Akyso Therapeutics Expands Pipeline with New NIH Grant for Buprenorphine Implant Following Successful Phase 1a Trial of Naltrexone Implant
The iSTEP products represent disruptive ultra long acting formulations of both naltrexone and buprenorphine and with them Akyso Therapeutics is poised to capture a large portion of the $3B OUD treatment market in the US.
Share
Key Highlights:
Phase 1a trial demonstrated that the iSTEP-N® implant was well-tolerated with no serious adverse events or implant-related complications.
Sustained therapeutic plasma levels of naltrexone were observed for three months following a single implant.
Residual Naltrexone content of the implant after 3-months suggests potential for 12-month efficacy.
The iSTEP® platform utilizes a proprietary, fully bioabsorbable polymer system that does not require surgical removal.
A Phase 1b study in patients with OUD is planned for early 2026 and will include a comparison to Vivitrol®.
$15 million NIDA grant awarded for the development of a 6-12-month extended-release buprenorphine implant, iSTEP-B®.
'We are thrilled to share not only the success of our Phase 1a iSTEP-N® trial, but also the launch of our buprenorphine implant program with support from NIDA,' said Steven Cohen, MD, FACS, co-founder and co-CEO of Akyso Therapeutics. 'This expanded funding and validation from the NIH will allow us to pursue our dual-track approach to transforming OUD treatment with both naltrexone and buprenorphine.'
Naltrexone and buprenorphine formulations represent over 90 percent of treatment options for OUD in the United States. The iSTEP products represent disruptive ultra long acting formulations of both naltrexone and buprenorphine and with them Akyso Therapeutics is poised to capture a large portion of the $3B OUD treatment market in the US. The new buprenorphine implant project builds directly upon Akyso's iSTEP® platform. iSTEP-B® will use the same bioabsorbable, subcutaneous delivery system as iSTEP-N®, with the goal of delivering therapeutic buprenorphine levels continuously for more than six months. The company plans to follow a similar clinical development pathway, including formulation, CMC analytics, GLP toxicology, and human trials.
'Our goal is to offer patients long-acting, discreet treatments that reduce relapse risk during the most vulnerable stages of recovery,' said Jeffrey Benner, MD, co-founder and co-CEO. 'With iSTEP-N® entering patient trials and iSTEP-B® now funded for development, we are well-positioned to provide scalable, very long acting, implantable therapies for both opioid and alcohol use disorders.'
Akyso's iSTEP-N® program is supported in part by NIDA (UH3DA048338). A description of the Phase 1a trial is available on ClinicalTrials.gov under the identifier NCT06053197. The new iSTEP-B® buprenorphine program is supported by a separate $15 million federal grant (2025–2029).
For more information on Akyso Therapeutics or partnership opportunities, please contact:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
23 minutes ago
- Business Wire
Pitney Bowes Inc. Announces Proposed Offering of $200 Million of Convertible Senior Notes
STAMFORD, Conn.--(BUSINESS WIRE)--Pitney Bowes Inc. (NYSE:PBI) ('Pitney Bowes' or, the 'Company') today announced that it intends to offer, subject to market and other conditions, $200 million aggregate principal amount of its convertible senior notes due 2030 (the 'Convertible Notes') in a private placement under the Securities Act of 1933, as amended (the 'Securities Act'). The Company also intends to grant the initial purchasers of the Convertible Notes an option to purchase, within a 13-day period from, and including, the date on which the Convertible Notes are first issued, up to an additional $30 million aggregate principal amount of the Convertible Notes. The Company intends to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions described below. If the initial purchasers of the Convertible Notes exercise their option to purchase additional Convertible Notes, the Company expects to use a portion of the net proceeds from the sale of the additional Convertible Notes to enter into additional capped call transactions with the option counterparties described below. In addition, the Company expects to use up to $75 million of the net proceeds from the offering to repurchase shares of the Company's common stock concurrently with the pricing of the offering in privately negotiated transactions effected with or through one of the initial purchasers or its affiliate. The Company expects to use any remainder of the net proceeds from the offering for general corporate purposes and other strategic investments that align with the Company's capital strategy, which may include reinvestments in the Company's business, the repayment or refinancing of debt and other initiatives designed to reduce the Company's leverage or average borrowing cost. The Convertible Notes will be senior unsecured obligations of the Company and will be guaranteed fully, unconditionally, and jointly and severally by each of the Company's existing and future wholly owned U.S. subsidiaries that guarantees the Company's existing credit agreement, existing senior notes or any other series of capital markets debt with an aggregate principal amount outstanding in excess of $150.0 million. The Convertible Notes will mature on August 15, 2030, unless redeemed, repurchased or converted earlier. The initial conversion rate, interest rate, and certain other terms of the Convertible Notes will be determined by negotiations between the Company and the initial purchasers. Prior to May 15, 2030, the Convertible Notes will be convertible only upon satisfaction of certain conditions and during certain periods, and, thereafter, will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The Company will settle conversions of the Convertible Notes by paying cash up to the aggregate principal amount of the Convertible Notes to be converted and delivering shares of its common stock in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the Convertible Notes being converted. The Company may not redeem the Convertible Notes prior to August 21, 2028. The Company may redeem for cash all or any portion of the Convertible Notes, at its option, on or after August 21, 2028, if the last reported sale price of the Company's common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. In connection with the pricing of the Convertible Notes, the Company expects to enter into privately negotiated capped call transactions with one or more of the initial purchasers of the Convertible Notes or their respective affiliates and/or other financial institutions (the 'option counterparties'). The capped call transactions are expected generally to reduce potential dilution to the Company's common stock upon any conversion of notes, with such reduction subject to a cap. In connection with establishing their initial hedges of the capped call transactions, the Company expects the option counterparties or their respective affiliates to purchase shares of the Company's common stock and/or enter into various derivative transactions with respect to the Company's common stock concurrently with or shortly after the pricing of the Convertible Notes. This activity could increase (or reduce the size of any decrease in) the market price of the Company's common stock or the Convertible Notes at that time. In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to the Company's common stock and/or purchasing or selling shares of the Company's common stock or other securities of the Company in secondary market transactions following the pricing of the Convertible Notes and prior to the maturity of the Convertible Notes (and are likely to do so on each exercise date for the capped call transactions or following any termination of any portion of the capped call transactions in connection with any repurchase, redemption or early conversion of the Convertible Notes). This activity could also cause or avoid an increase or a decrease in the market price of the Company's common stock or the Convertible Notes, which could affect a noteholder's ability to convert the Convertible Notes and, to the extent the activity occurs following conversion or during any observation period related to a conversion of Convertible Notes, it could affect the amount and value of the consideration that a noteholder will receive upon conversion of its Convertible Notes. In connection with the concurrent share repurchase described above, the Company expects to repurchase shares of its common stock sold short by initial investors in the offering in privately negotiated transactions effected with or through one of the initial purchasers or its affiliate at a purchase price per share equal to the last reported sale price per share of the Company's common stock on the pricing date of the offering. These repurchases could increase (or reduce the size of any decrease in) the market price of the Company's common stock or the Convertible Notes. This activity could affect the market price of the Company's common stock prior to, concurrently with or shortly after the pricing of the Convertible Notes, and could result in a higher effective conversion price for the Convertible Notes. The offering is being made to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Any offers of the Convertible Notes will be made only by means of a private offering memorandum. None of the Convertible Notes, the related guarantees or any shares of the common stock issuable upon conversion of the Convertible Notes have been or are expected to be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. No assurance can be made that the offering of the Convertible Notes will be completed on its anticipated terms, or at all. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Convertible Notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. About Pitney Bowes Pitney Bowes (NYSE: PBI) is a technology-driven products and services company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world – including more than 90 percent of the Fortune 500. Small businesses to large enterprises, and government entities rely on Pitney Bowes to reduce the complexity of sending mail and parcels. For the latest news, corporate announcements, and financial results, visit For additional information, visit Pitney Bowes at Forward-Looking Statements This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning the timing and completion of the offering of the Convertible Notes, the concurrent share repurchase and the capped call transactions and the anticipated use of proceeds from the offering. Words such as 'estimate,' 'believe,' 'expect,' 'anticipate,' 'intend' and similar expressions may identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors, including financial community perceptions of the Company and its business, operations, financial condition and the industries in which it operates and the other factors as more fully outlined in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and other reports filed with the Securities and Exchange Commission during 2025.
Business Wire
23 minutes ago
- Business Wire
Arista Networks, Inc. Reports Second Quarter 2025 Financial Results
SANTA CLARA, Calif.--(BUSINESS WIRE)--Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client-to-cloud networking for large AI, data center, campus, and routing environments, today announced financial results for its second quarter ended June 30, 2025. Second Quarter Financial Highlights 'Arista is well-positioned in data-driven AI networking, from client to cloud," said Jayshree Ullal, Chairperson and CEO of Arista Networks. 'Our customers are decisively standardizing on our best of breed platform to bring transformational innovation and impact to their technology endeavors.' Revenue of $2.205 billion, an increase of 10.0% compared to the first quarter of 2025, and an increase of 30.4% from the second quarter of 2024. GAAP gross margin of 65.2%, compared to GAAP gross margin of 63.7% in the first quarter of 2025 and 64.9% in the second quarter of 2024. Non-GAAP gross margin of 65.6%, compared to non-GAAP gross margin of 64.1% in the first quarter of 2025 and 65.4% in the second quarter of 2024. GAAP net income of $888.8 million, or $0.70 per diluted share, compared to GAAP net income of $665.4 million, or $0.52 per diluted share in the second quarter of 2024. Non-GAAP net income of $923.5 million, or $0.73 per diluted share, compared to non-GAAP net income of $672.6 million, or $0.53 per diluted share in the second quarter of 2024. Commenting on the company's financial results, Chantelle Breithaupt, Arista's CFO, said, "Non-GAAP operating income crossed $1 billion for the first time at Arista, highlighting the strength of our business model and the momentum of customer demand across our portfolio. Our ability to scale efficiently while maintaining financial discipline continues to deliver value for our shareholders." Upcoming Analyst Day Arista Networks will host its Analyst Day on Thursday, September 11, 2025, beginning at 3:00 PM PT (6:00 PM ET). Interested participants can register through the Investor Relations section of the Arista website at Company Highlights Arista Networks Expands AI-Driven Campus and Branch Networking Offerings – Arista introduced several AI-driven enterprise products that deliver an expanded set of switching, Wi-Fi 7 access point, and WAN capabilities. Arista Networks Acquired the VeloCloud® SD-WAN Portfolio from Broadcom – VeloCloud expands choice and performance for Arista customers, enabling global WAN services to interconnect data centers and distributed campus/branch offices, while complementing Arista's existing CloudEOS® routing stack and high-end 7000-series WAN routers. Arista Networks Recognized in the Visionaries Quadrant of the 2025 Gartner® Magic Quadrant™ for Enterprise Wired and Wireless LAN Infrastructure published on 25 June 2025 - Gartner positioned Arista Networks as the vendor with the highest Ability to Execute in the Visionaries Quadrant in the report. Arista Expands Commitment to India for Enterprise Networking and AI Innovation – The 'Make in India' initiative drives domestic manufacturing of key campus and data center switches as well as Wi-Fi 7 access points. Arista Networks appointed Todd Nightingale as President and Chief Operating Officer - Mr. Nightingale previously served as the Chief Executive Officer and member of the Board of Directors of Fastly, Inc., and before that as the Executive Vice President and General Manager of Enterprise Networking and Cloud at Cisco Systems, Inc. Financial Outlook For the third quarter of 2025, we expect: Revenue of approximately $2.25 billion Non-GAAP gross margin of approximately 64%; and Non-GAAP operating margin of approximately 47%. Guidance for non-GAAP financial measures excludes certain items, including stock-based compensation expense, intangible asset amortization, and potential non-recurring charges or benefits. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort because these exclusions can be uncertain or difficult to predict, including stock-based compensation expense, which is impacted by the timing of employee stock transactions, the company's future hiring and retention needs and the future fair market value of the company's common stock. The actual amount of these exclusions will have a significant impact on the company's GAAP gross margin and GAAP operating margin. Prepared Materials and Conference Call Information Arista's executives will discuss the second quarter 2025 financial results on a conference call today at 1:30 PM Pacific Time. To listen to the call via telephone, dial (888) 330-2502 in the United States or +1 (240) 789-2713 from international locations. The Conference ID is 5655862. The financial results conference call will also be available via live webcast on Arista's investor relations website at Shortly after the conclusion of the conference call, a replay of the audio webcast will be available on Arista's investor relations website. Forward-Looking Statements This press release contains 'forward-looking statements' regarding our future performance, including but not limited to quotations from management, statements in the section entitled 'Financial Outlook,' such as estimates regarding revenue, non-GAAP gross margin, and non-GAAP operating margin for the third quarter of 2025, statements regarding Arista's products, innovation and ability to succeed in data-driven AI networking. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ materially from those anticipated in or implied by the forward-looking statements including but not limited to risks associated with: escalated or escalating U.S. tariffs and countermeasures and retaliatory actions taken by affected countries; enhanced import/export restrictions, such as enhanced export controls the U.S. has adopted targeting trade with China, as well as countermeasures taken by affected countries; large purchases by a limited number of customers who represent a substantial portion of our revenue; adverse economic and geopolitical conditions and conflicts, continuing uncertain economic conditions or reduced information technology and network infrastructure spending; the impact of sole or limited sources of supply, supply shortages and extended lead times or supply changes; volatility in our revenue and revenue growth rates; variations in our results of operations; the rapid evolution of the networking market; failure to successfully carry out new products and service offerings and expand into adjacent markets; variability in our gross margins; intense competition and industry consolidation; expansion of our international sales and operations; investments in or acquisitions of other businesses, products or technologies; seasonality and industry cyclicality; fluctuations in currency exchange rates; failure to raise additional capital on favorable terms; our inability to attract new large customers or sell additional products and services to our existing customers; inability to grow sales of switches which generate most of our product revenue; large customers requiring more favorable terms; inability to increase market awareness or acceptance of our new products and services; decreases in the sales prices of our products and services; long and unpredictable sales cycles; inability to offer high quality support and services; declines in maintenance renewals by customers; product quality problems, defects, errors or vulnerabilities in our products; failure to anticipate technological shifts; the complexity of managing the supply of our products and product components; our reliance upon a predominant merchant silicon vendor; our dependence on third-party manufacturers to build our products; assertions by third parties of intellectual property rights infringement, misappropriation or other violations; failure or inability to protect or assert our intellectual property rights; cybersecurity incidents and breaches of our cybersecurity systems, or other security or privacy breaches or incidents; failure to comply with government law and regulations; issues in the development and use of artificial intelligence, combined with an uncertain regulatory environment; future decisions to reduce or discontinue repurchasing our common stock pursuant to our stock repurchase programs; and other future events. Additional risks and uncertainties that could affect us can be found in our most recent filings with the Securities and Exchange Commission, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q. You can locate these reports through our website at and on the SEC's website at All forward-looking statements in this press release are based on information available to the company as of the date hereof, and we disclaim any obligation to publicly update or revise any forward-looking statement to reflect events that occur or circumstances that exist after the date on which they were made. Non-GAAP Financial Measures This press release and accompanying table contain certain non-GAAP financial measures, including non-GAAP gross profit, non-GAAP gross margin, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, and non-GAAP diluted net income per share. These non-GAAP financial measures exclude stock-based compensation expense, intangible asset amortization, (gains)/losses on strategic investments, and the income tax effect of these non-GAAP exclusions. In addition, non-GAAP financial measures exclude net tax benefits associated with stock-based awards, which include excess tax benefits and other discrete indirect effects of such awards. The company uses these non-GAAP financial measures internally in analyzing its financial results and believes that these non-GAAP financial measures are useful to investors as an additional tool to evaluate ongoing operating results and trends. In addition, these measures are the primary indicators management uses as a basis for its planning and forecasting for future periods. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for the comparable GAAP financial measures. Non-GAAP financial measures are subject to limitations and should be read only in conjunction with the company's consolidated financial statements prepared in accordance with GAAP. Non-GAAP financial measures do not have any standardized meaning and are, therefore, unlikely to be comparable to similarly titled measures presented by other companies. A description of these non-GAAP financial measures and a reconciliation of the company's non-GAAP financial measures to their most directly comparable GAAP measures have been provided in the financial statement tables included in this press release, and investors are encouraged to review the reconciliation. Gartner®, Magic Quadrant™ for Enterprise Wired and Wireless LAN Infrastructure, Mike Leibovitz et al., 25 June 2025 GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. The Gartner content described herein (the 'Gartner Content') represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this Earnings Press Release), and the opinions expressed in the Gartner Content are subject to change without notice. About Arista Networks Arista Networks is an industry leader in data-driven, client-to-cloud networking for large AI, data center, campus, and routing environments. Its award-winning platforms deliver availability, agility, automation, analytics, and security through an advanced network operating stack. For more information, visit ARISTA, CloudVision, and Etherlink are among the registered and unregistered trademarks of Arista Networks, Inc. in jurisdictions around the world. Other company names or product names may be trademarks of their respective owners. Additional information and resources can be found at ARISTA NETWORKS, INC. Reconciliation of Selected GAAP to Non-GAAP Financial Measures (Unaudited, in millions, except percentages and per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP gross profit $ 1,438.6 $ 1,097.2 $ 2,714.7 $ 2,098.6 GAAP gross margin 65.2 % 64.9 % 64.5 % 64.3 % Stock-based compensation expense 5.8 4.0 11.3 7.4 Intangible asset amortization 2.6 4.2 5.8 8.4 Non-GAAP gross profit $ 1,447.0 $ 1,105.4 $ 2,731.8 $ 2,114.4 Non-GAAP gross margin 65.6 % 65.4 % 64.9 % 64.8 % GAAP income from operations $ 986.2 $ 699.6 $ 1,845.0 $ 1,359.7 GAAP operating margin 44.7 % 41.4 % 43.8 % 41.7 % Stock-based compensation expense 85.2 79.3 178.2 156.5 Intangible asset amortization 5.0 6.7 10.6 13.4 Non-GAAP income from operations $ 1,076.4 $ 785.6 $ 2,033.8 $ 1,529.6 Non-GAAP operating margin 48.8 % 46.5 % 48.3 % 46.9 % GAAP net income $ 888.8 $ 665.4 $ 1,702.6 $ 1,303.1 Stock-based compensation expense 85.2 79.3 178.2 156.5 Intangible asset amortization 5.0 6.7 10.6 13.4 (Gains)/losses on strategic investments (5.4 ) — (10.9 ) — Tax benefits on stock-based awards (41.6 ) (64.6 ) (107.7 ) (135.3 ) Income tax effect on non-GAAP exclusions (8.5 ) (14.2 ) (23.1 ) (27.3 ) Non-GAAP net income $ 923.5 $ 672.6 $ 1,749.7 $ 1,310.4 GAAP diluted net income per share (1) $ 0.70 $ 0.52 $ 1.34 $ 1.02 Non-GAAP adjustments to net income (1) 0.03 0.01 0.03 — Non-GAAP diluted net income per share (1) $ 0.73 $ 0.53 $ 1.37 $ 1.02 Weighted-average shares used in computing diluted net income per share (1) 1,271.2 1,279.7 1,275.2 1,279.6 Summary of Stock-Based Compensation Expense: Cost of revenue $ 5.8 $ 4.0 $ 11.3 $ 7.4 Research and development 53.2 50.7 110.2 94.5 Sales and marketing 18.8 16.8 38.7 35.7 General and administrative 7.4 7.8 18.0 18.9 Total $ 85.2 $ 79.3 $ 178.2 $ 156.5 (1) Prior period results have been adjusted to reflect the four-for-one stock split effected in December 2024. Expand ARISTA NETWORKS, INC. Condensed Consolidated Balance Sheets (Unaudited, in millions) December 31, 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 2,225.5 $ 2,762.4 Marketable securities 6,618.9 5,541.1 Accounts receivable 1,623.6 1,140.5 Inventories 2,059.1 1,834.6 Prepaid expenses and other current assets 976.4 632.3 Total current assets 13,503.5 11,910.9 Property and equipment, net 152.3 98.8 Goodwill 416.5 268.5 Deferred tax assets 1,802.5 1,440.4 Other assets 659.4 325.3 TOTAL ASSETS $ 16,534.2 $ 14,043.9 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 543.9 $ 381.1 Accrued liabilities 380.7 435.3 Deferred revenue 2,787.6 1,727.3 Other current liabilities 339.2 188.5 Total current liabilities 4,051.4 2,732.2 Deferred revenue, non-current 1,274.1 1,064.1 Other long-term liabilities 307.1 252.8 TOTAL LIABILITIES 5,632.6 4,049.1 STOCKHOLDERS' EQUITY: Common stock 0.1 0.1 Additional paid-in capital 2,635.6 2,465.4 Retained earnings 8,262.1 7,542.5 Accumulated other comprehensive income (loss) 3.8 (13.2 ) TOTAL STOCKHOLDERS' EQUITY 10,901.6 9,994.8 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 16,534.2 $ 14,043.9 Expand ARISTA NETWORKS, INC. Condensed Consolidated Statements of Cash Flows (Unaudited, in millions) Six Months Ended June 30, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 1,702.6 $ 1,303.1 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization and other 26.6 31.1 Stock-based compensation 178.2 156.5 Deferred income taxes (337.9 ) (228.5 ) Other (21.0 ) (18.5 ) Changes in operating assets and liabilities: Accounts receivable, net (483.1 ) (202.2 ) Inventories (224.5 ) 91.4 Other assets (403.2 ) (92.6 ) Accounts payable 160.0 (136.2 ) Deferred revenue 1,141.4 612.6 Income taxes, net 152.4 74.1 Other liabilities (49.7 ) (88.0 ) Net cash provided by operating activities 1,841.8 1,502.8 CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from maturities of marketable securities 1,651.2 952.6 Proceeds from sale of marketable securities 15.9 36.8 Purchases of marketable securities (2,705.7 ) (1,749.3 ) Purchases of property and equipment (52.4 ) (12.6 ) Cash paid for business combinations, net of cash acquired (300.0 ) — Other — (1.0 ) Net cash used in investing activities (1,391.0 ) (773.5 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock under equity plans 31.3 34.5 Tax withholding paid on behalf of employees for net share settlement (39.3 ) (36.0 ) Repurchases of common stock (983.0 ) (234.7 ) Net cash used in financing activities (991.0 ) (236.2 ) Effect of exchange rate changes 3.3 (2.7 ) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (536.9 ) 490.4 CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 2,763.8 1,939.5 CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period $ 2,226.9 $ 2,429.9 Expand
Business Wire
23 minutes ago
- Business Wire
Kemper Announces $500 Million Share Repurchase Authorization and Quarterly Dividend
CHICAGO--(BUSINESS WIRE)-- Kemper Corporation (NYSE: KMPR) announced today that its Board of Directors has approved a new share repurchase authorization, under which the Company can repurchase up to $500 million of its common stock. Repurchases may be made from time to time at the Company's discretion, subject to market conditions and other factors. In addition, Kemper also announced that its Board of Directors has declared a quarterly dividend of $0.32 per share. The dividend is payable on September 2, 2025, to Kemper's shareholders of record as of August 18, 2025. 'We remain committed to a disciplined capital strategy that balances both near- and long-term value creation,' said Joseph P. Lacher, Jr., President and CEO. 'The new share repurchase authorization and our continuing dividend demonstrate the strength of Kemper's financial position and our confidence in the underlying performance of the business.' About Kemper The Kemper family of companies is one of the nation's leading specialized insurers. With approximately $13 billion in assets, Kemper is improving the world of insurance by providing affordable and easy-to-use personalized solutions to individuals, families and businesses through its Kemper Auto and Kemper Life brands. Kemper serves over 4.7 million policies, is represented by approximately 24,000 agents and brokers, and has approximately 7,500 associates dedicated to meeting the ever-changing needs of its customers. Learn more about Kemper.
