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Stark Future Achieves Record Profitability for All-Electric Motorcycle Manufacturer

Stark Future Achieves Record Profitability for All-Electric Motorcycle Manufacturer

Yahoo14-05-2025
Stark Future Sets New Sales and Operations Records of €18.3M Revenue and €2.8M Positive EBITDA in Breakthrough Month of April 2025.
BARCELONA, Spain, May 14, 2025 /PRNewswire/ -- Stark Future, the global leader in high-performance electric motorcycles, has achieved a historic milestone by recording its highest-ever monthly revenue of €18.3 million while delivering a positive EBITDA of €2.8 million. This noteworthy result from Stark Future, the fastest-growing company in Spain, signifies an even greater moment for the viability and sustainability of the EV market.
"This achievement comes barely two years after Stark Future's first commercial sales, remarkably faster than incumbent EV leaders, and more resembling the growth rates of some of the world's most successful technology firms in history," said Anton Wass, CEO of Stark Future. "We have been steadily approaching this profitability event, driven by the popularity of the off-road VARG MX, but the phenomenal reception of the newly available Stark VARG EX, the company's groundbreaking street-legal Enduro model, has brought this landmark occasion."
In a period where the broader EV industry is facing headwinds, Stark Future's accomplishment represents positive news to markets and consumers alike. Comparatively, Tesla needed nearly 17 years to achieve sustained profitability, all while earning billions of dollars annually selling regulatory credits to other automakers. By contrast, Stark Future's operations are funded through motorcycle sales alone. Chinese manufacturer NIO has a similar product-driven revenue to Stark Future, yet it only reached positive EBITDA after eight years.
"Through deep technical vertical integration and focus on sourcing, we managed to develop game-changing technology at competitive costs, all while still manufacturing in Europe," Wass continued. "This result validates our disciplined approach and marks an important step toward consistent profitability."
Stark Future's primary ambition is to design, develop, and manufacture cutting-edge electric motorcycles to push boundaries of performance and set new standards for sustainability in the industry. This focus on sustainability, in both operational efficiency and materials, is widely credited for the firm's success. Looking to the future, Stark Future is focused on repeating the success it has found in the motocross and enduro segments, in much larger motorcycle categories.
"We will continue to innovate at the component level and in the greater model range so electric motorcycles in all categories can outperform traditional machines in every way," added Paul Soucy, Stark Future CTO.
Stark Future is well-positioned to continue scaling its impact and redefining the future of motorcycling. With a burgeoning global network of dealers at over 400 retail locations, expansions into over 50 countries, and recent developments for security and military applications, Stark Future's precipitous growth will continue to climb even higher.
About Stark Future:
Stark Future is on a mission to revolutionize the motorcycle industry by leading the shift toward sustainability and drastically reducing CO₂ and plastic pollution. Through cutting-edge design and unmatched performance, the brand aims to deliver timeless, beautiful electric motorcycles that surpass traditional technology in terms of performance and experience. Guided by a philosophy of innovation, quality, and user-focused simplicity, Stark Future combines bold ambition with a relentless pursuit of excellence. The brand's iconic gold logo symbolizes its full-circle approach to sustainability and its uncompromising drive to be number one.
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Portland General Electric Announces Second Quarter 2025 Results
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For the same reasons, management is unable to address the probable significance of unavailable information. PGE's reconciliation of non-GAAP earnings for the quarter ended June 30, 2025 is below. Non-GAAP Earnings Reconciliation for the quarter ended June 30, 2025 (Dollars in millions, except EPS) Net Income Diluted EPS GAAP as reported for the quarter ended June 30, 2025 $ 62 $ 0.56 Exclusion of business transformation and optimization expenses 15 0.14 Tax effect (1) (4) (0.04) Non-GAAP as reported for the quarter ended June 30, 2025 $ 73 $ 0.66 (1) Tax effects were determined based on the Company's full-year blended federal and state statutory rate. About Portland General Electric Company Portland General Electric (NYSE: POR) is an integrated energy company that generates, transmits and distributes electricity to over 950,000 customers serving an area of 1.9 million Oregonians. Since 1889, Portland General Electric (PGE) has been powering social progress, delivering safe, affordable, reliable and increasingly clean electricity while working to transform energy systems to meet evolving customer needs. PGE customers have set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. PGE was ranked the No. 1 utility in the 2024 Forrester U.S. Customer Experience Index and is committed to reducing emissions from its retail power supply by 80% by 2030 and 100% by 2040. In 2024, PGE employees, retirees and the PGE Foundation donated $5.5 million and volunteered nearly 23,000 hours to more than 480 nonprofit organizations. For more information visit Safe Harbor Statement Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent our estimates and assumptions as of the date of this report. The Company assumes no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. Forward-looking statements include statements regarding the Company's full-year earnings guidance (including assumptions and expectations regarding annual retail deliveries, average hydro conditions, wind generation, normal thermal plant operations, operating and maintenance expense and depreciation and amortization expense) as well as other statements containing words such as "anticipates," "assumptions," "based on," "believes," "conditioned upon," "considers," "could," "estimates," "expects," "expected," "forecast," "goals," "intends," "needs," "plans," "predicts," "projects," "promises," "seeks," "should," "subject to," "targets," "will continue," "will likely result," or similar expressions. Investors are cautioned that any such forward-looking statements are subject to risks and uncertainties, including, without limitation: the timing or outcome of various legal and regulatory actions; governmental policies, executive orders, legislative action, and regulatory audits, investigations and actions with respect to allowed rates of return, financings, electricity pricing and price structures, acquisition and disposal of facilities and other assets, construction and operation of plant facilities, transmission of electricity, recovery of power costs, operating expenses, deferrals, timely recovery of costs, and capital investments, energy trading activities, and current or prospective wholesale and retail competition; changing customer expectations and choices that may reduce demand for electricity; the sale of excess energy during periods of low demand or low wholesale market prices; impaired financial stability of vendors and service providers and elevated levels of uncollectible customer accounts; uncertainties associated with energy demand to new data centers, including the concentration of data centers, and the ability to obtain regulatory approvals, environmental, and other permits to construct new facilities in a timely manner; operational risks relating to the Company's generation and battery storage facilities, including hydro conditions, wind conditions, disruption of transmission and distribution, disruption of fuel supply, and unscheduled plant outages, which may result in unanticipated operating, maintenance and repair costs, as well as replacement power costs; delays in the supply chain and increased supply costs, including the application of trade tariffs, available tax credits, failure to complete capital projects on schedule or within budget, failure of counterparties to perform under agreement, or the abandonment of capital projects, which could result in the Company's inability to recover project costs, or impact our competitive position, market share, revenues and project margins in material ways; default or nonperformance of counterparties from whom PGE purchases capacity or energy, which require the purchase of replacement power and renewable attributes at increased costs; complications arising from PGE's jointly-owned plant, including ownership changes, regulatory outcomes or operational failures; changes in, and compliance with, and general uncertainty surrounding environmental laws and policies, including those related to threatened and endangered species, fish, and wildfire; future laws, regulations, and proceedings that could increase the Company's costs of operating its thermal generating plants, or affect the operations of such plants by imposing requirements for additional emissions controls or significant emissions fees or taxes, particularly with respect to coal-fired generating facilities, in order to mitigate carbon dioxide, mercury, and other gas emissions; volatility in wholesale power and natural gas prices including but not limited to volatility caused by macroeconomic and international issues and capital market conditions, that could require PGE to post additional collateral or issue additional letters of credit pursuant to power and natural gas purchase agreements; changes in the availability and price of wholesale power and fuels; changes in customer growth, or demographic patterns, including changes in load resulting in future transmission constraints, in PGE's service territory; changes in capital and credit market conditions, including volatility of equity markets as well as changes in PGE's credit ratings and outlook on such credit ratings, reductions in demand for investment-grade commercial paper or interest rates, which could affect the access to and availability or cost of capital and result in delay or cancellation of capital projects or execution of the Company's strategic plan as currently envisioned; trade tariffs, inflation and volatility in interest rates; the impacts of changes in the tax code, including tax rates, minimum tax rates, adjustments made to deferred tax assets and liabilities, and changes impacting the availability of and ability to transfer renewable tax credits; risks and uncertainties related to current or future All-Source RFP projects; the effects of climate change, whether global or local in nature; unseasonable or severe weather conditions, wildfires, and other natural phenomena and natural disasters that could result in operational disruptions, unanticipated restoration costs, third party liability or that may affect energy costs or consumption; the effectiveness of PGE's risk management policies and procedures; ignitions caused by PGE assets or PGE's ability to effectively implement a Public Safety Power Shutoffs (PSPS) and de-energize its system in the event of heightened wildfire risk or implement effective system hardening programs; impacts from the lack of legislation limiting wildfire-related liability or providing a wildfire relief fund; cybersecurity attacks, data security breaches, physical attacks and security breaches, or other malicious acts against the Company or against Company vendors, which could disrupt operations, require significant expenditures, or result in the release of confidential customer, vendor, employee, or Company information; reputational damage from negative publicity, protests, fines, penalties and other negative consequences resulting in regulatory and/or legal actions; employee workforce factors, including potential strikes, work stoppages, transitions in senior management, and the ability to recruit and retain key employees and other talent and turnover due to macroeconomic trends physical attacks upon company employees; widespread health emergencies or outbreaks of infectious diseases, which may affect our financial position, results of operations and cash flows; failure to achieve the Company's greenhouse gas emission goals or being perceived to have either failed to act responsibly with respect to the environment or effectively responded to legislative requirements concerning greenhouse gas emission reductions; social attitudes regarding the electric utility and power industries; political and economic conditions; acts of war, terrorism or civil disruption; changes in financial or regulatory accounting principles or policies imposed by governing bodies; new federal, state, and local laws that could have adverse effects on operating results; risks and uncertainties related to generation and transmission projects, including, but not limited to, regulatory processes, transmission capabilities, system interconnections, permitting and construction delays, legislative uncertainty, inflationary impacts, supply costs and supply chain constraints; and trade tariffs and related market volatility and supply chain disruptions that could increase PGE's operating costs, impair PGE's ability to complete capital projects, and impede access to capital markets. As a result, actual results may differ materially from those projected in the forward-looking statements. Risks and uncertainties to which the Company are subject are further discussed in the reports that the Company has filed with the United States Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, and on the Company's website, Investors should not rely unduly on any forward-looking statements. Media Contact: Investor Contact: Drew Hanson Nick White Corporate Communications Investor Relations Phone: 503-464-2067 Phone: 503-464-8073 PORSource: Portland General Company PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Dollars in millions, except per share amounts) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025202420252024 Revenues:Revenues, net $ 798$ 761$ 1,730$ 1,701 Alternative revenue programs, net of amortization 9(3)5(14) Total revenues 8077581,7351,687 Operating expenses:Purchased power and fuel 294275662680 Generation, transmission and distribution 114107224206 Administrative and other 9697192192 Depreciation and amortization 139122279243 Taxes other than income taxes 46419288 Total operating expenses 6896421,4491,409 Income from operations 118116286278 Interest expense, net 5752113103 Other income:Allowance for equity funds used during construction 661111 Miscellaneous income, net 791215 Other income, net 13152326 Income before income tax expense 7479196201 Income tax expense 1273420 Net income 6272162181 Other comprehensive income ———1 Net income and Comprehensive income $ 62$ 72$ 162$ 182 Weighted-average common shares outstanding (in thousands):Basic 109,522103,034109,473102,167 Diluted 109,765103,232109,725102,338 Earnings per share: Basic $ 0.56$ 0.69$ 1.48$ 1.77 Diluted $ 0.56$ 0.69$ 1.47$ 1.77 PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) (Unaudited) June 30, 2025December 31, 2024 ASSETSCurrent assets:Cash and cash equivalents $ 56$ 12 Accounts receivable, net 397456 Inventories 123114 Regulatory assets—current 188205 Other current assets 126238 Total current assets 8901,025 Electric utility plant, net 10,64510,345 Regulatory assets—noncurrent 581632 Nuclear decommissioning trust 4230 Non-qualified benefit plan trust 3534 Other noncurrent assets 488478 Total assets $ 12,681$ 12,544 PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS, continued (Dollars in millions) (Unaudited) June 30, 2025December 31, 2024 LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities:Accounts payable $ 267$ 365 Liabilities from price risk management activities—current 112147 Current portion of long-term debt 68170 Current portion of finance lease obligation 2727 Accrued expenses and other current liabilities 439410 Total current liabilities 9131,119 Long-term debt, net of current portion 4,6634,354 Regulatory liabilities—noncurrent 1,4201,440 Deferred income taxes 606564 Deferred investment tax credits 6561 Unfunded status of pension and postretirement plans 133140 Liabilities from price risk management activities—noncurrent 4372 Asset retirement obligations 293292 Non-qualified benefit plan liabilities 7174 Finance lease obligations, net of current portion 270276 Other noncurrent liabilities 352358 Total liabilities 8,8298,750 Commitments and contingenciesShareholders' Equity:Preferred stock, no par value, 30,000,000 shares authorized; none issued and outstanding as of June 30, 2025 and December 31, 2024 —— Common stock, no par value, 160,000,000 shares authorized; 109,561,888 and 109,342,251 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 2,1272,118 Accumulated other comprehensive loss (4)(4) Retained earnings 1,7291,680 Total shareholders' equity 3,8523,794 Total liabilities and shareholders' equity $ 12,681$ 12,544 PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) Six Months Ended June 30, 20252024 Cash flows from operating activities:Net income $ 162$ 181 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization 279243 Deferred income taxes 2527 Allowance for equity funds used during construction (11)(11) Alternative revenue programs (5)14 Regulatory assets (3)(118) Regulatory liabilities (16)(10) Tax credit sales 1313 Other non-cash income and expenses, net 4942 Changes in working capital:Accounts receivable, net 5216 Inventories (9)(4) Margin deposits 8537 Accounts payable and accrued liabilities (35)(34) Other working capital items, net 226 Other, net (41)(38) Net cash provided by operating activities 567364 PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, continued (In millions) (Unaudited) Six Months Ended June 30, 20252024 Cash flows from investing activities:Capital expenditures $ (596)$ (623) Sales of Nuclear decommissioning trust securities 1— Purchases of Nuclear decommissioning trust securities (3)(4) Other, net (11)(12) Net cash used in investing activities (609)(639) Cash flows from financing activities:Proceeds from issuance of common stock —78 Proceeds from issuance of long-term debt 310450 Payments on long-term debt (102)— Maturities of commercial paper, net —(146) Dividends paid (109)(96) Other (13)(10) Net cash provided by financing activities 86276 Change in cash and cash equivalents 441 Cash and cash equivalents, beginning of period 125 Cash and cash equivalents, end of period $ 56$ 6 Supplemental cash flow information is as follows:Cash paid for interest, net of amounts capitalized $ 94$ 81 Cash received for income taxes, net (3)(10) PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES SUPPLEMENTAL OPERATING STATISTICS (Unaudited) Six Months Ended June 30, 20252024 Revenues (dollars in millions):Retail:Residential $ 74043 %$ 72243 % Commercial 4762744627 Industrial 2551520612 Direct Access 191151 Subtotal Retail 1,490861,38983 Alternative revenue programs, net of amortization 5—(14)(1) Other accrued revenues, net 1015— Total retail revenues 1,505871,38082 Wholesale revenues 1881127516 Other operating revenues 422322 Total revenues $ 1,735100 %$ 1,687100 % Energy deliveries (MWhs in thousands):Retail:Residential 3,79725 %3,85126 % Commercial 3,178203,17621 Industrial 2,814182,39016 Subtotal 9,789639,41763 Direct access:Commercial 26422472 Industrial 95668476 Subtotal 1,22081,0948 Total retail energy deliveries 11,0097110,51171 Wholesale energy deliveries 4,418294,28329 Total energy deliveries 15,427100 %14,794100 % Average number of retail customers:Residential 838,51688 %826,29788 % Commercial 114,21112113,22312 Industrial 217—206— Direct access 659—505— Total 953,603100 %940,231100 % PORTLAND GENERAL ELECTRIC COMPANY AND SUBSIDIARIES SUPPLEMENTAL OPERATING STATISTICS, continued (Unaudited) Six Months Ended June 30, 20252024 Sources of energy (MWhs in thousands):Generation:Thermal:Natural gas 5,39637 %4,66932 % Coal 82767815 Total thermal 6,223435,45037 Hydro 77057385 Wind 1,465101,53811 Total generation 8,458587,72653 Purchased power:Hydro 3,772263,41524 Wind 59147215 Solar 59344973 Natural Gas ——941 Waste, Wood, and Landfill Gas 54—851 Source not specified 1,17081,84613 Total purchased power 6,180426,65847 Total system load 14,638100 %14,384100 % Less: wholesale sales (4,418)(4,283) Retail load requirement 10,22010,101 The following table indicates the number of heating and cooling degree-days for the three and six months ended June 30, 2025 and 2024, along with 15-year averages based on weather data provided by the National Weather Service, as measured at Portland International Airport:Heating Degree-daysCooling Degree-days20252024Avg.20252024Avg. First Quarter 1,7721,7551,8194—— April 248310360——3 May 160192179142325 June 564567888581 Second Quarter 464547606102108109 Year-to-date 2,2362,3022,425106108109 (Decrease) from the 15-year average (8) %(5) %(3) %(1) % View original content: SOURCE Portland General Company Sign in to access your portfolio

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New York Times

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  • New York Times

Remember the TikTok Ban? Does Anyone?

Few noticed when President Trump postponed the deadline to enforce a statutory ban on TikTok, the Chinese-owned video-sharing app used by almost half of all Americans, for the third time. Even allowing for the torrent of other news, it's astonishing how so little attention is being paid to what just months ago was deemed so serious a national security risk that both Democrats and Republicans demanded immediate and unprecedented action by adopting the ban. Even more bizarrely, the risk — even if overhyped — hasn't diminished. It has only grown as our relations with the People's Republic of China become even more adversarial. The TikTok saga is in many ways a microcosm of our erratic and unprincipled approach to the varied challenges presented by Chinese technology. We awaken to risks of a particular technology only after it has been widely adopted. The few laws we have to address Chinese threats target only specific apps or equipment, depend on discretionary action by the executive branch or are so broad that they have limited effect. On top of all of that, they are often thwarted or delayed by judicial challenges anyway. Politicians eschew even partial solutions for fear that any compromise might look weak to voters. It seems that as our exposure to invasive and risky Chinese technology expands, our paralysis to do anything about it deepens. Launched in 2016, TikTok became the web's fastest-growing app ever, with an astonishingly effective algorithm that showed users precisely the videos that they wanted (or perhaps didn't realize they wanted). Almost two billion people use it around the world (though it's banned in China itself), 170 million of them in the United States. That includes almost 65 percent of American teenagers. Like most social media platforms, it collects vast amounts of data about its users. Mr. Trump tried to ban TikTok during his first term, fearing that it could be used to spread Chinese disinformation and that its owner, the Chinese company ByteDance, might be required to turn over details about American users to its government. After courts blocked his attempt, the Biden administration sought a compromise in which an American board would oversee TikTok's operations in the United States and user data would be kept in Oracle's U.S.-based computers. Although the entire arrangement was to be subject to extensive audit and government oversight, the Biden administration — worried that China might still evade the restrictions and fearful that Republicans would accuse it of accommodating China — abandoned the proposal. In the charged atmosphere of the presidential campaign, no party wanted to look weak on China, so both Republicans and Democrats rushed to enact a ban without seriously investigating whether a better solution existed. Want all of The Times? Subscribe.

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