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Kai Höss walks to the podium every Sunday at a small church in Germany to share a message of salvation and God’s grace and forgiveness. He’s the lead pastor at the Bible Church of Stuttgart, a non-denominational church that serves the English-speaking international community as well as U.S. service members and their families who are stationed in the area. He’s also the grandson of former Auschwitz Commandant Rudolf Höss, a Nazi official who oversaw the mass murder of an estimated 1.1 million people, the majority of them Jews, at the notorious extermination camp in southern Poland. Höss spoke with Fox News Digital from his home in Germany to share his thoughts on antisemitism today and how he reconciles his Christian faith with what his grandfather did nearly 80 years ago. He was raised in a non-Christian home with non-believing parents, but his Grandma Caroline was a believer who “understood Christ” and the Gospel. “I thought she was really weird,” Höss admitted. He graduated from school, trained as a chef, joined the military and then studied hotel tourism management. He worked abroad for roughly 20 years, spending most of his time with big-name hotel chains like Sheraton and Shangri-La. “I was a young urban professional full of myself, in love with myself, you know, Rolex, golden Amex, Mr. Cool, going to clubs, out every night. That was my life,” he said. It wasn’t until a medical operation went wrong that he turned his life around. He found a Bible in the hospital room, initially telling himself that he wasn’t going to read it, but continued book by book. He was saved in Singapore in 1989. “God saved a wretch like me, you know? And that’s what he does. And it never stops. His grace abounds,” Höss said. The father of four openly speaks about his family’s past and his salvation and goes to schools to share his story and speak out against antisemitism. Höss was in sixth or seventh grade when he discovered that Rudolf Höss was his grandfather, which left him feeling deeply ashamed. “I didn’t go around telling people, ‘Hey, you know, I’m the grandson of the greatest mass murderer in human history,'” he told Fox News Digital. “So, I just kept it quiet.” After he became a Christian, he felt compelled to share his grandfather’s dark legacy and share a message of forgiveness, grace and reconciliation. He shared his testimony at a U.S. military retreat in Germany, where he was embraced by a Jewish military officer whose family had been murdered in Auschwitz. “I started thinking, ‘How can I give something back? How can I do something to’ – I know I can’t make it undone. I can’t reverse history, but I thought, you know, I can do something. I can just love them and what I can do, I can proclaim the truth from God’s word to Christians,” Höss said. Through Jesus Christ, he believes God’s grace is able to redeem even the darkest past. When speaking to students in Germany, Höss addresses antisemitism by drawing connections between the past and the present, specifically referencing World War II, his grandfather’s role and the power of hate. He explains the concept of social Darwinism, which was used by the Nazis to justify their belief in racial superiority. He explains how Darwin’s theory of evolution was misapplied to humans, leading to the idea that certain races were “stronger” and more “superior” than others and thus had the right to dominate or eliminate “weaker” races. Höss emphasized that this false ideology fueled much of the hatred against Jews, along with other marginalized groups, during World War II. He connects his presentations to social media platforms today and how TikTok, for example, can be highly influential, especially with its short, emotionally charged clips. He warns students about the danger of being swayed by superficial or biased content, emphasizing the importance of thinking critically and not simply swallowing information “hook, line and sinker” without considering the deeper truths or questioning the narrative. “One of my friends called it TikTok mentality, TikTok brains, you know, you get these endorphins, you get these, you know, little hormone boosts every time you see a little clip. Boom, boom, boom, boom, boom. And then it gets so addictive, right? And people get filled with the wrong idea. They don’t look for deeper truth. They don’t analyze,” he told Fox News Digital. Höss reacted to anti-Israel protests that erupted on U.S. college campuses after Hamas’ Oct. 7 attack on southern Israel, noting how much of the support for violence on campuses comes from people acting emotionally, often without a full understanding of the historical and political complexities of the situation. Julia Wax, a Georgetown University law student, told “Fox & Friends” in the wake of Oct. 7 that college campuses are a “hostile environment” for Jewish students. “People are scared to go to class. You have to sit next to classmates who are posting antisemitic rhetoric, who are promoting rallies that spew antisemitic rhetoric. People are scared, and the universities are not doing their part, and they’re not stepping up, and they’re staying silent,” Wax said. Höss told Fox News Digital he hears people chanting “From the river to the sea,” but if you ask them what that river or sea is, “they have no idea.” “They want to be part of something. They feel good about it. They get the basic message, the narrative. They’ve never really questioned both sides of the coin, so they don’t really have the full information. They’re not really interested because, again, it’s emotional. It’s an emotional response.” He critiqued how people, driven by ideologies or emotional narratives, can turn hatred into action, leading to harm and violence against others. “We get infiltrated by ideas, ideologies, thoughts, emotions. And then we start going all for it. We go right out there, and we turn these thoughts into actions. And one of them is hatred and hatred turning into bloodshed. And that’s exactly what we see on the campuses. We see people are willing to go out for this idea and do bad things. I mean, [they] don’t realize that this Jewish person there is just, you know, a normal person like they themselves,” Höss said. “He’s made of flesh and blood, right? He’s a student. He’s just a normal person. And here I hate someone because of something a government did somewhere on the other side of the planet, you know? And is everything that happened right? Perhaps not, you know, in that whole conflict there,” he added, referring to the Israel-Hamas war. “I hope they’re going to come to a point now where this whole thing sort of slows down and people can help.” Höss and his father traveled to Auschwitz three years ago when they were filming the HBO documentary “The Commandant’s Shadow.” They met with Holocaust survivor Anita Lasker-Wallfisch in her home and came to terms with Rudolf Höss’ murderous past. “We pray for her,” he added. “And I feel so privileged and thankful, humbled that we were allowed to go there and my dad and I and just see her and spend time with her. A person that had suffered so much under my grandfather’s cruel, cruel system in that concentration camp.” Höss has plans to speak at a synagogue in Freiburg, Germany, in January as part of the commemoration services for the 80th anniversary of Auschwitz’s liberation. “[It’s] an amazing opportunity to speak up and to be part of something like that,” he told Fox News Digital.
No, the president cannot change Social SecurityNovember 26, 2024 This article has been reviewed according to Science X's editorial process and policies . Editors have highlightedthe following attributes while ensuring the content's credibility: fact-checked peer-reviewed publication trusted source proofread by Andy Tomaswick, Universe Today Getting a mission to the point of officially being accepted for launch is an ordeal. However, even when they aren't selected for implementation, their ideas, and in some cases, their technologies, can live on in other missions. That was the case for the Oversize Kite-craft for Exploration and AstroNautics in the Outer Solar system (OKEANOS) project, originally planned as a Japanese Aerospace Exploration Agency (JAXA) mission. Despite not receiving funding to complete its entire mission, the project team released a paper that details the original plan for the mission, and some of those plans were incorporated into other missions that are still under development. OKEANOS sought to build on JAXA's success in returning samples from asteroids to Earth. Its most well-known mission in that regard was Hayabusa-2, which returned samples from the asteroid Ryugu in 2020 and has been the subject of dozens of scientific papers since. Ryugu is a near-Earth asteroid, which means its origins in the solar system are dramatically different from those of other asteroids farther out from the sun, which is where OKEANOS came in. The original plan for OKEANOS was to launch a sample return mission to one of the Jupiter Trojan asteroids that sit in the Lagrange points in front of and behind Jupiter and its orbital path. Scientists believe these asteroids originated outside of Neptune's orbit in the Kuiper belt but were brought closer to the sun due to gravitational fluctuations caused by the migration of the gas giant planets. Since they would hold clues to the early solar system , astronomers are interested in their composition, and some space exploration enthusiasts are interested in the materials they hold for in-situ resource utilization purposes. But so far, no missions have visited them yet. That is about to change, though, with Lucy, a NASA mission that launched in 2021 to visit them. However, Lucy will simply do remote observations and lacks the equipment to sample them directly, let alone return a sample back to Earth. The project team had hoped OKEANOS would do just that. Several novel technologies would be used to enable OKEANOS' scientific objectives. One of the most interesting was a combination solar sail and ion drive known as a solar power sail. A solar power sail combines the solar pushing power of a solar sail with flexible photovoltaic solar collectors that can collect a significant amount of energy while deployed in a sail-like configuration. JAXA has also successfully tested a similar system with its IKAROS mission, demonstrating the technology in 2010. Since solar sails have tiny thrust out near Jupiter, OKEANOS relies entirely on an ion engine and simply deploys its "sails" to deploy the solar panels that collect energy to power the ion drive. But once it reached its destination, it would utilize its second interesting technology—a lander. The two main asteroid sample return missions—OSIRIS-REx and Hayabusa-2—directly touched down on the surface of their respective asteroids. However, there have been deployed landers that have at least attempted to land on an asteroid before—Philae, the lander that accompanied ESA's Rosetta mission, is probably the most famous. But never before has a mission attempted to land a lander, collect a sample, and return it to a "mothership" that would then transport that sample back to Earth. Doing so out at the Trojan asteroids would add a new difficulty level of having significant communications lag time, making it difficult to troubleshoot any problems with the mission. Discover the latest in science, tech, and space with over 100,000 subscribers who rely on Phys.org for daily insights. Sign up for our free newsletter and get updates on breakthroughs, innovations, and research that matter— daily or weekly . Given JAXA's track record, it seemed likely that they could pull off that technical challenge . However, the mission was never fully funded due to a "cost issue," according to the paper. JAXA selected a project known as LiteBIRD to study the cosmic microwave background as its large-class mission for this decade instead. Despite that, the technical details of some of the instrumentation have been described in other papers, and the project team feels confident that future asteroid sample return missions will adopt at least some of them. We'll be sure to see more of those in the future as interest grows in understanding the roots of our solar system and how we might utilize the readily available resources on asteroids. Details were published in 2023 in the journal Acta Astronautica . Journal information: Acta Astronautica Provided by Universe TodayWalmart’s DEI rollback signals profound shift in the wake of Trump election victory
Firefly Aerospace's 'Blue Ghost' mission to the moon readies for launchHronsky scores 13 as Duquesne defeats Old Dominion 67-54
BOSTON--(BUSINESS WIRE)--Dec 10, 2024-- Skillsoft Corp. (NYSE: SKIL) (“Skillsoft” or the “Company”), a leading platform for transformative learning experiences, today announced its financial results for the third quarter of fiscal 2025 ended October 31, 2024. “Our fiscal third quarter financial results demonstrate our first step in executing our transformation strategy,” said Ron Hovsepian, Skillsoft’s Executive Chair and Chief Executive Officer. “The operationalization of our strategy is showing the first signs of business and financial improvement for our shareholders and customers.” “I am pleased with our financial results for the quarter, which are highlighted by strong revenue execution, improved profitability, and positive free cash flow,” said Rich Walker, Skillsoft’s Chief Financial Officer. “Our third quarter performance, coupled with momentum from our transformation execution, gives us confidence to raise and tighten our FY25 revenue guidance range, while reaffirming our adjusted EBITDA outlook.” The following table reflects Skillsoft’s updated financial outlook for the fiscal year ending January 31, 2025, based on current market conditions, expectations, and assumptions: GAAP Revenue $520 million – $530 million Adjusted EBITDA $105 million – $110 million (1) Growth calculated relative to the comparable prior year period unless otherwise noted. (2) See “Non-GAAP Financial Measures and Key Performance Metrics” below for the definitions of our key operational and non-GAAP metrics and how they are calculated and more information regarding the fact that the Company is unable to reconcile forward-looking non-GAAP measures without unreasonable efforts. We have provided at the back of this release reconciliations of our historical non-GAAP financial measures to the comparable GAAP measures. Skillsoft will host a conference call and webcast today at 5:00 p.m. Eastern Time to discuss its financial results. To access the call, dial (877) 413‐9278 from the United States and Canada or (215) 268‐9914 from international locations. The live event can be accessed from the Investor Relations section of Skillsoft’s website at . A replay will be available for six months. Skillsoft delivers transformative learning experiences that propel organizations and people to grow together. The Company partners with enterprise organizations and serves a global community of learners to prepare today’s employees for tomorrow’s economy. With Skillsoft, customers gain access to blended, multimodal learning experiences that do more than build skills, they grow a more capable, adaptive, and engaged workforce. Through a portfolio of high-quality content, an AI-enabled platform that is personalized and connected to customer needs, and a broad ecosystem of partners, Skillsoft drives continuous growth and performance for employees and their organizations by overcoming critical skills gaps, unlocking human potential, and transforming the workforce. Learn more at . The Company has organized its business into two segments (or Business Units): Talent Development Solutions (formerly referred to as Content & Platform) and Global Knowledge (formerly referred to as Instructor-Led Training). We track the non-GAAP financial measures and key performance metrics that we believe are key financial measures of our success. Non-GAAP measures and key performance metrics are frequently used by securities analysts, investors, and other interested parties in their evaluation of companies comparable to us, many of which present non-GAAP measures and key performance metrics when reporting their results. These measures can be useful in evaluating our performance against our peer companies because we believe the measures provide users with valuable insight into key components of U.S. GAAP financial disclosures. For example, a company with higher U.S. GAAP net income may not be as appealing to investors if its net income is more heavily comprised of gains on asset sales. Likewise, excluding the effects of interest income and expense moderates the impact of a company’s capital structure on its performance. However, non-GAAP measures and key performance metrics have limitations as analytical tools. Because not all companies use identical calculations, our presentation of non-GAAP financial measures and key performance metrics may not be comparable to other similarly titled measures of other companies. They are not presentations made in accordance with U.S. GAAP, are not measures of financial condition or liquidity, and should not be considered as an alternative to profit or loss for the period determined in accordance with U.S. GAAP or operating cash flows determined in accordance with U.S. GAAP. As a result, these performance measures should not be considered in isolation from, or as a substitute analysis for, results of operations as determined in accordance with U.S. GAAP. We have provided at the back of this press release reconciliations of our historical non-GAAP financial measures to the comparable GAAP measures. We do not reconcile our forward-looking non-GAAP financial measures to the corresponding U.S. GAAP measures, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible; and because not all of the information necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure is available to us without unreasonable efforts. For the same reasons, we are unable to address the probable significance of the unavailable information. We provide non-GAAP financial measures that we believe will be achieved, however we cannot accurately predict all of the components of the non-GAAP calculations and the U.S. GAAP measures may be materially different than the non-GAAP measures. We disclose the below non-GAAP financial measures and key performance metrics in this press release because we believe these non-GAAP financial measures and key performance metrics provide meaningful supplemental information. “ ” - For existing customers at the beginning of a given period, DRR represents subscription renewals, upgrades, churn, and downgrades in such period divided by the beginning total renewable base for such customers for such period. Renewals reflect customers who renew their subscription, inclusive of auto-renewals for multi-year contracts, while churn reflects customers who choose to not renew their subscription. Upgrades include orders from customers that purchase additional licenses or content (e.g., a new Leadership and Business module), while downgrades reflect customers electing to decrease the number of licenses or reduce the size of their content package. Upgrades and downgrades also reflect changes in pricing. We use our DRR to measure the long-term value of customer contracts as well as our ability to retain and expand the revenue generated from our existing customers. - Adjusted net income (loss) is defined as GAAP net income (loss) excluding non-cash items, discrete and event-specific costs that do not represent normal, recurring, cash operating expenses necessary for our business operations, and certain accounting income and/or expenses that management believes are necessary to enhance the comparability and are useful in assessing our operating performance, include the following (including the related tax effects): - Adjusted EBITDA is defined as adjusted net income (loss) excluding interest expense or income, benefit from or provision for income taxes, depreciation and amortization expense. – Adjusted operating expenses are defined as GAAP costs of revenues, content and software development, selling and marketing, and general and administrative expenses, excluding depreciation expense, long-term incentive compensation expense, system migration costs, transformation costs, and other non-cash charges, as applicable. – Adjusted gross margin is defined as GAAP revenue less GAAP cost of revenues, excluding long-term incentive compensation expense and depreciation expense, divided by GAAP revenue for the same period. – Adjusted contribution margin is defined as GAAP revenue less adjusted operating expenses, divided by GAAP revenue for the same period. – Free cash flow is defined as GAAP net cash provided by (used in) operating activities less purchases of property and equipment and internally developed software. – Adjusted free cash flow (levered) is defined as free cash flow plus the cash impact for adjusted EBITDA excluded charges. – Free cash flow conversion is defined as free cash flow divided by adjusted EBITDA for the same period. – Net leverage is defined as current maturities of long-term debt, plus borrowings under accounts receivable facility, plus long-term debt, less cash and equivalents and restricted cash, divided by adjusted EBITDA for the preceding twelve-month period. Certain amounts reported in prior years have been reclassified to conform to the presentation in the current year. These reclassifications had no effect on total assets, total liabilities, total stockholders' equity, or net income (loss) for the prior year. This document includes statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws. All statements, other than statements of historical facts, that address activities, events or developments that we expect or anticipate may occur in the future, including such things as our outlook (including revenue, non-GAAP EBITDA, and free cash flow), our product development and planning, our sales pipeline, future capital expenditures, share repurchases, financial results, the impact of regulatory changes, existing and evolving business strategies and acquisitions and dispositions, demand for our services, competitive strengths, the benefits of new initiatives, growth of our business and operations, and our ability to successfully implement our plans, strategies, objectives, expectations and intentions are forward-looking statements. Also, when we use words such as “may”, “will”, “would”, “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “project”, “forecast”, “seek”, “outlook”, “target”, “goal”, “probably”, or similar expressions, we are making forward-looking statements. Such statements are based upon the current beliefs and expectations of Skillsoft’s management and are subject to significant risks and uncertainties. All forward-looking disclosure is speculative by its nature, and we caution you against unduly relying on these forward-looking statements. Factors that could cause or contribute to such differences include those described under “Part I - Item 1A. Risk Factors” in our Form 10‐K for the fiscal year ended January 31, 2024. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements included in our other periodic filings with the Securities and Exchange Commission. The forward-looking statements contained in this document represent our estimates only as of the date of this filing and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update these forward-looking statements in the future, we specifically disclaim any obligation to do so, whether to reflect actual results, changes in assumptions, changes in other factors affecting such forward-looking statements, or otherwise. Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included in this document, our inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved. Annualized, pro forma, projected and estimated numbers are used for illustrative purposes only, are not forecasts and may not reflect actual results. Additionally, statements as to market share, industry data and our market position are based on the most current data available to us and our estimates regarding market position or other industry data included in this document or otherwise discussed by us involve risks and uncertainties and are subject to change based on various factors, including as set forth above. (in thousands, except number of shares and per share amounts) Current assets: Cash and cash equivalents $ 97,921 $ 136,308 Restricted cash 3,881 10,215 Accounts receivable, net of allowance for credit losses of approximately $558 and $562 as of October 31, 2024 and January 31, 2024, respectively 102,498 185,638 Prepaid expenses and other current assets 55,834 53,170 Total current assets 260,134 385,331 Property and equipment, net 3,543 6,639 Goodwill 317,071 317,071 Intangible assets, net 456,692 539,293 Right of use assets 5,054 8,044 Other assets 11,037 17,256 Total assets $ 1,053,531 $ 1,273,634 Current liabilities: Current maturities of long-term debt $ 6,404 $ 6,404 Borrowings under accounts receivable facility 10,009 44,980 Accounts payable 21,159 14,512 Accrued compensation 28,325 31,774 Accrued expenses and other current liabilities 22,370 29,939 Lease liabilities 2,088 3,049 Deferred revenue 203,646 282,570 Total current liabilities 294,001 413,228 Long-term debt 574,312 577,487 Deferred tax liabilities 44,099 52,148 Long-term lease liabilities 6,839 9,251 Deferred revenue - non-current 1,823 2,402 Other long-term liabilities 11,977 13,531 Total long-term liabilities 639,050 654,819 Commitments and contingencies Shareholders’ equity: Shareholders’ common stock - Class A common shares, $0.0001 par value: 18,750,000 shares authorized and 8,576,683 shares issued and 8,276,906 shares outstanding at October 31, 2024, and 8,380,436 shares issued and 8,080,659 shares outstanding at January 31, 2024 1 1 Additional paid-in capital 1,559,547 1,551,005 Accumulated equity (deficit) (1,412,279 ) (1,321,478 ) Treasury stock, at cost - 299,777 shares as of October 31, 2024 and January 31, 2024 (10,891 ) (10,891 ) Accumulated other comprehensive income (loss) (15,898 ) (13,050 ) Total shareholders’ equity 120,480 205,587 Total liabilities and shareholders’ equity $ 1,053,531 $ 1,273,634 (in thousands, except per share amounts) Revenues: Total revenues $ 137,225 $ 138,956 $ 397,241 $ 415,697 Operating expenses: Costs of revenues 34,312 36,407 101,254 114,698 Content and software development 14,937 16,126 45,436 51,024 Selling and marketing 39,615 43,983 122,591 130,321 General and administrative 21,686 22,308 66,390 72,689 Amortization of intangible assets 31,826 38,620 95,197 116,086 Acquisition and integration related costs 931 510 3,349 2,838 Restructuring 3,095 873 15,361 8,592 Total operating expenses 146,402 158,827 449,578 496,248 Operating income (loss) (9,177 ) (19,871 ) (52,337 ) (80,551 ) Other income (expense), net (538 ) 19 1,261 (1,290 ) Fair value adjustment of warrants — 1,105 — 4,750 Fair value adjustment of interest rate swaps (822 ) 3,981 418 11,186 Interest income 924 1,060 2,897 2,576 Interest expense (15,845 ) (16,492 ) (48,538 ) (48,683 ) Income (loss) before provision for (benefit from) income taxes (25,458 ) (30,198 ) (96,299 ) (112,012 ) Provision for (benefit from) income taxes (1,859 ) (2,462 ) (5,498 ) (8,735 ) Income (loss) from continuing operations (23,599 ) (27,736 ) (90,801 ) (103,277 ) Gain (loss) on sale of business — — — (682 ) Net income (loss) $ (23,599 ) $ (27,736 ) $ (90,801 ) $ (103,959 ) Net income (loss) per share: Basic and diluted - continuing operations $ (2.86 ) $ (3.45 ) $ (11.11 ) $ (12.84 ) Basic and diluted - discontinued operations — — — (0.08 ) Basic and diluted $ (2.86 ) $ (3.45 ) $ (11.11 ) $ (12.92 ) Weighted average common shares outstanding: Basic and diluted 8,239,564 8,047,497 8,170,344 8,043,712 (in thousands) Cash flows from operating activities: Net income (loss) $ (90,801 ) $ (103,959 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of intangible assets 95,197 116,086 Stock-based compensation 9,985 22,917 Depreciation 2,404 2,629 Non-cash interest expense 1,628 1,546 Non-cash property, equipment, software and lease impairment charges 2,495 4,265 Provision for credit loss expense (recovery) (4 ) 205 (Gain) loss on sale of business — 682 Provision for (benefit from) deferred income taxes – non-cash (8,080 ) (10,270 ) Fair value adjustment of warrants — (4,750 ) Fair value adjustment of interest rate swaps (418 ) (11,186 ) Change in assets and liabilities: Accounts receivable 82,877 70,645 Prepaid expenses and other assets, including long-term 4,258 2,726 Right-of-use assets 1,632 2,184 Accounts payable 6,693 (3,283 ) Accrued expenses and other liabilities, including long-term (12,819 ) (20,820 ) Lease liabilities (3,387 ) (3,048 ) Deferred revenues (79,446 ) (75,250 ) Net cash provided by (used in) operating activities 12,214 (8,681 ) Cash flows from investing activities: Purchase of property and equipment (820 ) (3,753 ) Proceeds from sale of property and equipment 10 — Internally developed software - capitalized costs (13,018 ) (8,055 ) Sale of SumTotal, net of cash transferred — (5,137 ) Net cash provided by (used in) investing activities (13,828 ) (16,945 ) Cash flows from financing activities: Shares repurchased for tax withholding upon vesting of restricted stock-based awards (1,052 ) (1,441 ) Payments to acquire treasury stock — (8,046 ) Proceeds from (payments on) accounts receivable facility (34,971 ) 793 Principal payments on term loans (4,803 ) (4,803 ) Net cash provided by (used in) financing activities (40,826 ) (13,497 ) Effect of exchange rate changes on cash and cash equivalents (2,281 ) (1,674 ) Net increase (decrease) in cash, cash equivalents and restricted cash (44,721 ) (40,797 ) Cash, cash equivalents and restricted cash, beginning of period 146,523 177,556 Cash, cash equivalents and restricted cash, end of period $ 101,802 $ 136,759 Supplemental disclosure of cash flow information: Cash and cash equivalents $ 97,921 $ 129,806 Restricted cash 3,881 6,953 Cash, cash equivalents and restricted cash, end of period $ 101,802 $ 136,759 (in thousands, unaudited) Talent Development Solutions $ 102,998 $ 101,132 $ 302,725 $ 302,893 Global Knowledge 34,227 37,824 94,516 112,804 $ $ $ $ $ $ $ $ Acquisition and integration related costs 931 510 3,349 2,838 Restructuring 3,095 873 15,361 8,592 Transformation costs 164 1,053 1,351 2,503 System migration costs — 510 118 1,580 Long-term incentive compensation expenses 4,099 7,962 10,438 22,917 Executive exit costs — — 3,326 — Fair value adjustment of warrants — (1,105 ) — (4,750 ) Fair value adjustment of interest rate swaps 822 (3,981 ) (418 ) (11,186 ) Foreign currency impact 524 (181 ) (1,297 ) 1,513 Gain (loss) on sale of business — — — 682 Tax impact of adjustments (1,057 ) (602 ) (3,349 ) (2,921 ) Interest expense, net 14,921 15,432 45,641 46,107 Expense (benefit from) income taxes, excluding tax impacts above (802 ) (1,860 ) (2,149 ) (5,814 ) Depreciation 1,000 266 2,404 2,629 Amortization of intangible assets 31,826 38,620 95,197 116,086 $ $ $ $ Weighted average common shares outstanding: Basic and diluted 8,239,564 8,047,497 8,170,344 8,043,712 Basic and diluted per share information: Net income (loss), as reported $ (2.86 ) $ (3.45 ) $ (11.11 ) (12.92 ) Adjusted net income (loss) from continuing operations $ (1.82 ) $ (2.82 ) $ (7.58 ) $ (10.22 ) Interest expense, net 10.9 % 11.1 % 11.5 % 11.1 % Expense (benefit from) income taxes, excluding tax impacts above (0.6 )% (1.3 )% (0.5 )% (1.4 )% Depreciation 0.7 % 0.2 % 0.6 % 0.6 % Amortization of intangible assets 23.2 % 27.8 % 23.9 % 27.9 % (in thousands, unaudited) Operating expenses: GAAP costs of revenues $ 34,312 $ 36,407 $ 101,254 $ 114,698 Depreciation (91 ) (80 ) (315 ) (413 ) Long-term incentive compensation expenses (201 ) (128 ) (499 ) (463 ) Adjusted costs of revenues 34,020 36,199 100,440 113,822 GAAP content and software development 14,937 16,126 45,436 51,024 Depreciation (74 ) 22 (218 ) (169 ) Long-term incentive compensation expenses (857 ) (1,575 ) (3,061 ) (5,350 ) System migration — (510 ) (118 ) (1,580 ) Adjusted content and software development 14,006 14,063 42,039 43,925 GAAP selling and marketing 39,615 43,983 122,591 130,321 Depreciation (161 ) (160 ) (531 ) (839 ) Long-term incentive compensation expenses (1,595 ) (1,421 ) (3,648 ) (2,435 ) Transformation — (9 ) (213 ) (251 ) Adjusted selling and marketing 37,859 42,393 118,199 126,796 GAAP general and administrative 21,686 22,308 66,390 72,689 Depreciation (674 ) (48 ) (1,340 ) (1,208 ) Long-term incentive compensation expenses (1,446 ) (4,838 ) (3,230 ) (14,669 ) Transformation (179 ) (882 ) (1,192 ) (2,475 ) Executive exit costs — — (3,326 ) — Adjusted general and administrative 19,387 16,540 57,302 54,337 Total GAAP operating expenses 110,550 118,824 335,671 368,732 Depreciation (1,000 ) (266 ) (2,404 ) (2,629 ) Long-term incentive compensation expenses (4,099 ) (7,962 ) (10,438 ) (22,917 ) System migration — (510 ) (118 ) (1,580 ) Transformation (1) (179 ) (891 ) (1,405 ) (2,726 ) Executive exit costs — — (3,326 ) — Adjusted total operating expenses $ 105,272 $ 109,195 $ 317,980 $ 338,880 (1) This line item does not agree to the amounts reflected on preceding table due to certain transformation expenses not being reflected in GAAP operating expenses. (in thousands) Net cash provided by (used in) operating activities $ 8,717 $ (10,666 ) $ 12,214 $ (8,681 ) Purchase of property and equipment, net (411 ) (347 ) (810 ) (3,753 ) Internally developed software - capitalized costs (4,222 ) (2,104 ) (13,018 ) (8,055 ) Total free cash flow Cash impact for adjusted EBITDA excluded charges 10,089 2,306 17,187 10,098 Adjusted free cash flow (levered) $ $ $ $ ) View source version on : CONTACT: Investors: Ross Collins or Stephen Poe : Cameron Martin KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: TECHNOLOGY SECURITY OTHER TECHNOLOGY SOFTWARE INTERNET CONTINUING TRAINING DATA MANAGEMENT EDUCATION SOURCE: Skillsoft Corp. Copyright Business Wire 2024. PUB: 12/10/2024 04:05 PM/DISC: 12/10/2024 04:04 PMThrough its Smarter Asset Management program, Diversified Energy Company is able to more efficiently produce from its wells and midstream assets, all while ensuring less emissions and improving asset health. Paul Espenan, DEC’s Senior Vice President of Environmental Health, Safety and Regulatory, said that Smarter Asset Management is all about efficient production while reducing emissions, and that’s being done at the company in a variety of ways. For one, he said, the company performs “strategic upgrades” to certain wells, especially those that are under-appreciated, as Diversified does not produce new wells as most producers, but instead acquire and optimize existing energy assets. “What we see a lot of times when we acquire these assets is that others don’t have the appreciation of them that we do in terms of what the opportunity is,” Espenan said. “It’s not necessarily part of their core business, but it is our core business. We have a way of evaluating things that perhaps they overlook or had no intention of even looking at.” DEC Senior Vice President of Upstream Operations and Well Retirement Todd Tetrick said that some operators who owned wells before they were acquired by DEC “lost focus” on operating these wells efficiently, but with the wells now under Diversified Energy’s care, they’re seeing new life. Tetrick continued, “Well pressures and fluid production change throughout the life cycle of the well, and the wells can be very sensitive and require adjustment of the lift mechanisms.” “You can go through the last seven or eight years of Diversified owning these assets and see that we have returned to service literally thousands of wells that our predecessor companies were not producing.” Regardless of if they’re new or mature wells, Tetrick said that a lot goes into efficient oil and gas operations. He said that a key metric in measuring efficient production is “lift cost”, or cost incurred by the company during the production operations of the oil and gas wells. “We can become more efficient by focusing on the expense piece, the production or both,” Tetrick said. “We can decrease our lift costs per unit. That’s the whole goal, to produce our wells efficiently, safely and from an environmentally sustainable perspective.” The environmental impact of oil and gas producing is hugely important to Diversified Energy, and a central tenet of Smarter Asset Management. Espenan said that more than two years ago, the company made what others in the oil and gas industry considered an “odd” decision by equipping every well tender with a handheld device that detects methane leaks. Despite what others thought of the plan, Espenan said it has put DEC ahead of the curve when it comes to detecting and limiting emissions. “In 2023, on a facility basis, we were able to attain a 98% leak-free status,” Espenan said. “We did about 246,000 individual inspections in 2023, and by making those leaks rare, we not only put that gas back in the pipe to sell it, but also reduced our emissions. In 2023, we announced that we hit our emissions goal for 2030 seven years ahead of schedule, and the biggest change was making leaks very rare.” Aside from eliminating emissions at wells, Espenan said that DEC has utilized technology from Bridger Photonics to detect methane emissions from the air by using LiDAR, noting that the company has flown over 22,000 miles of its gathering system and 21,000 miles of production facilities to similarly find and eliminate leaks. Additionally, Espenan said that the company is working with a company called Xplorobot, which is developing an entirely new system to detect methane leaks that, he predicted, will overtake the current common method of finding emissions like DVD overtook VHS. “(Their technology) is going to leapfrog over what has been traditionally called optic gas imaging, which uses a camera, to laser-based imaging,” Espenan said. He added that there are federal regulations about to go into effect that will require oil and gas companies to do things to limit emissions that Diversified Energy has been doing for years voluntarily, and he added that a good deal of what DEC does in the future will still be beyond what’s required by regulators. While environmental impact is a huge part of Smarter Asset Management, so, too, is improving the company’s social impact. Tetrick said that taking into account the hundreds of employees that Diversified Energy Company has across its service area, there is a lot of money going into local economies. Espenan said that whatever DEC can do to improve the communities in which it operates, it wants to do so. “We live, work and participate in the communities around us, and we care what the community has to say about us,” Espenan said. “It’s also, in terms of the outreach we perform, charitable or organizational. We care about our reputation and we want to be that good neighbor, so we’re doing a great deal to reduce our impact and emissions and run our operations in a certain way, because we care about the impact to the public. “Our sustainability report in 2022 won an award mostly because of transparency. We talk in great detail about the things we do in the community. The impact we make financially is a big part of that.”
DULUTH — Friends and colleagues took to social media to remember Mary Murphy upon the news of her death on Wednesday, Dec. 25. Murphy was the longest-serving female legislator and second-longest-serving member of the Minnesota House. Murphy died at the age of 85 on Christmas Day, just days after suffering a stroke . ADVERTISEMENT House Speaker Melissa Hortman (DFL-Fridley) announced Murphy’s death in a post on Facebook, which read: “She was a wonderful state representative and human being. So many people will miss her, and remember her and her accomplishments fondly.” “Mary was in so many ways ahead of her time and was often the only woman at the table in northern Minnesota,” U.S. Sen. Amy Klobuchar said in a statement. “That’s changed now thanks to her trailblazing legacy.” Murphy was first elected to serve House District 14B from 1977-1982 and went on to serve District 8A from 1983-2002, District 6B from 2003-2012 and District 3B from 2013-2022. In 2022, Murphy lost the District 3B race against Republican Natalie Zeleznikar by a mere 33 votes. Zeleznikar, who retained the seat in the 2024 election, expressed condolences in a Facebook post, writing: “Mary worked hard for northern Minnesota, a place she called home her entire lifetime. Her dedication, service and hard work can be witnessed in multiple projects across the communities she served. I was honored to know her, and work with her on senior care issues during my nursing home administrator years.” A Hermantown High School graduate, Murphy earned a bachelor's degree in history and economics from the College of St. Scholastica and attended graduate school at multiple universities. Before retiring from the classroom in 1997, Murphy also served as a history and social studies teacher at Central High School in Duluth for more than three decades, a career Klobuchar cited in her tribute. ADVERTISEMENT “As a former teacher, she was a strong advocate for improving education for our children and she also fought to protect victims of domestic violence and stalking,” Klobuchar’s statement said. Murphy had championed programs like Head Start and DARE, as well as initiated legislation to fund statewide juvenile correction facilities. Last January, St. Louis County commissioners honored Murphy by renaming the Environmental Trust Fund in her honor. Having worked alongside Murphy during the redistricting process in 2010, Deputy Mayor of St. Paul Jaime Tincher commented: “Mary didn’t raise her voice, she didn’t engage in political sparring. Instead, she led with the quiet power of earned trust and deep credibility. Her effectiveness was rooted in the respect she had built over decades of service, and her ability to bring people together in ways that made them feel heard and valued, no matter their political affiliation.” During Murphy’s time in the House, she chaired multiple committees, including the judiciary finance, ethics, energy, and state government and veterans affairs committees. “As chair of bonding and later the Ways and Means Committee, she demonstrated an unwavering dedication to institutional support, always willing to offer her wisdom and advice on how best to approach the financial needs of our zoos,” State Rep. John Huot (DFL-Rosemount) posted on Facebook. “Mary was a remarkable legislator and a compassionate friend and mentor to many,” State Rep. Jay Xiong (DFL-St. Paul) said in a Facebook post. “Her unwavering commitment to her community and tireless advocacy for those in need have left an indelible mark on our state. Mary's legacy will continue to inspire us all as we strive to uphold the values she championed.” ADVERTISEMENT Murphy left a legacy of advocacy for women’s rights, health care, criminal justice, and labor and advocacy issues. Gov. Tim Walz spoke of Murphy as a “true champion for the Northland” in his post on Facebook and said “Gwen (his wife) and I are sending our love to her family.”MINNEAPOLIS (AP) — Minnesota Vikings coach Kevin O’Connell’s stirring locker room tribute to his team last week at Seattle was respectfully interrupted by seven-year veteran right tackle Brian O’Neill, who flipped the script on the game ball awards by tossing one to the boss in honor of his second 13-win season in three years. The Vikings have obliterated even the most optimistic of external predictions for this transitional season, taking a sparkling 13-2 record into their matchup against the Green Bay Packers that has made O’Connell the current favorite for the NFL Coach of the Year award. “It’s a credit to who he is as a person, as a coach and as a leader,” tight end T.J. Hockenson said. “We’re very fortunate to be able to play under him.” The Vikings can not only win the NFC North for a second time in three seasons, but get the No. 1 seed with a first-round bye and home-field advantage throughout the NFC tournament if they beat both the Packers at home on Sunday and the Detroit Lions on the road next week. Don’t expect the Vikings to ponder that possibility, though, as tantalizing as it would be. “It can be a very tired cliché to talk about going 1-0 until you’ve systematically built your entire operation daily of just trying to do that every single day,” O’Connell said after Minnesota’s eighth consecutive victory . “These guys, it’s not a cliché at that point. It becomes part of your football foundation and the makeup of your locker room, of your leadership, your coaching staff.” The Packers could be forgiven for being less than impressed by the impact O’Connell has made, for a reason beyond simply him coaching their biggest rival. Green Bay enjoyed even better out-of-the-gate success under coach Matt LaFleur, who was hired in 2019 and won 13 regular-season games in each of his first three years. Though they’re in third place at 11-4, two games behind the Lions and the Vikings, the Packers too have secured a place in the playoffs even if they can’t win their loaded division. They’ll likely be the visiting team as long as they’re alive this postseason. “I think that just all of us going against one another, it’s forced you to be at your best every week,” LaFleur said. “You can’t afford a slip-up, just to keep up with everybody.” The road team has won each of the past three matchups in this series. The Packers are 0-4 against the teams with the top three records in the NFC: Detroit, Minnesota and Philadelphia. “We’ve got to be able to go win these games against the really good teams in the league and set ourselves up for the situation we’ll be in for the playoffs,” quarterback Jordan Love said. Aaron Jones rushed for 93 yards on 22 carries for Minnesota in a 31-29 victory at Green Bay on Sept. 29. Released by the Packers for salary cap relief in favor of their premier free agency addition, the three-plus-years-younger Josh Jacobs, Jones just hit the 1,000-yard mark last week and can’t hide from the significance of facing his former team. “They respect you because they were on your team or they’ve seen the work that you put in, but you want to gain their respect in another way from playing against them, like, ‘Man, this dude is really as good as I thought he was,’” Jones said. Jacobs, for his part, is fourth in the NFL entering Week 17 with 1,216 rushing yards for the most by a Packers player in a season since Ryan Grant (1,253) in 2009. The earlier matchup this season featured seven combined turnovers, four by the Packers and three by the Vikings. Both of these teams are among the NFL’s best in the turnover department, with Green Bay at a plus-12 margin and Minnesota at a plus-10. The Packers have allowed a total of three sacks and have committed just two turnovers over their past five games. The Vikings are eagerly anticipating the return of second-year linebacker Ivan Pace, the sparkplug who has missed four games on injured reserve with a hamstring strain. They’ll be cautious with him and the tricky nature of that injury, but getting Pace back in the middle of the action with fellow linebacker Blake Cashman would be a big boost to the play-calling options for defensive coordinator Brian Flores. “He flies around. When he blitzes, he’s as impactful as anybody, and when you can really get him and Cash out there at the same time, they both can really play to their strengths,” O’Connell said. “They’re both really good blitzers. Cash is phenomenal in coverage and reading the quarterback, and when you can kind of pair those guys together, run and pass, that’s when we’re at our best.” Brayden Narveson missed both of his field-goal attempts for Green Bay, from 37 and 49 yards, in the two-point decision at Lambeau Field in Week 4. The Packers released Narveson a couple of weeks later in favor of 11-year veteran Brandon McManus, who has gone 16 of 17 on field-goal tries including game-winners as time expired against Houston and Jacksonville. AP NFL: https://apnews.com/hub/NFL
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