Hamilton Accies fans' chief 'fears administration' over tax and wages issues
The club have been handed a season-long transfer embargo and fined £7,500 after admitting to three counts of failing to notify the SPFL it had been in default of its tax obligations to HMRC.
Accies Supporters' Association chairman David Equi is worried that should the club fail to properly pay players on July 31, the club could be placed into administration, and reckons only a mystery investor can rescue them.
He said: 'How can they blame turmoil in the last two years for the problems – they've been running it for two years, that's their responsibility.
'These are all recent offences and as far as I'm aware the most serious offence at the SFA and SPFL is not notifying them of tax breaches – doing that three times is serial incompetence.
'The wages are due on July 31, and if they can't pay them, that will be the club gone, they will be straight into administration.
'I think administration is an incredibly serious threat, and I think we're unlikely to last the season.
READ MORE: Hamilton Accies admit 'serious weaknesses in our finance and administration' following player ban
READ MORE: Accies' fans group lashes out at 'alarming managerial and operational failures' after transfer ban
'I'm very worried about this – we could end up completely out the league forever, in the near future.
'I'm massively concerned, and we as a supporters' group have heard there are other things in the pipeline from the SPFL as well.
'I really fear administration. We're always told there's investment round the corner, new directors coming on, but we've been hearing this for a while.
'The only way round it is if a mystery investor comes in immediately. We're not ruling that out, but if you were an investor, would you touch them?'
ASA have organised a peaceful protest outside Broadwood ahead of the club's League One curtain-raiser at home to Montrose on August 2.
Mr Equi said: 'I'm Accies through and through, I've been going for 50-odd years, and I know loads of people who have stopped going, because they're sickened of it.
'There are plenty of people who are going to Broadwood on August 2, who are not going in to the game.
'As fans, they treat us with total disdain, and we feel really strongly about it.'
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Kneat Announces Record Revenue for Second Quarter 2025
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Q2 2025 Highlights Total revenues increased 32% to $15.4 million in the second quarter of 2025, compared to $11.7 million for the second quarter of 2024. SaaS revenue for the second quarter of 2025 grew 31% to $14.1 million, versus $10.8 million for the second quarter of 2024. Second-quarter 2025 gross profit was $11.6 million, up 34% from $8.7 million in gross profit for the second quarter of 2024. Gross margin in the second quarter of 2025 was 75%, compared to 74% for the second quarter of 2024. EBITDA1 in the second quarter of 2025 was $3.8 million, compared with $0.5 million for the second quarter of 2024. Adjusted EBITDA1 in the second quarter of 2025 was $0.4 million, compared with $1.6 million for the second quarter of 2024. Net loss for the second quarter of 2025 was $0.4 million, compared with a net loss of $3.1 million for the second quarter of 2024. Total ARR1, which includes SaaS license and recurring maintenance fees, was $64.8 million at June 30, 2025, an increase of 43% from $45.4 million at June 30, 2024. [1] ARR is a supplementary measure. EBITDA and Adjusted EBITDA are non-IFRS measures and are not recognized, defined or standardized measures under IFRS. These measures are defined in the 'Supplementary and Non-IFRS Measures' section of this news release. First Half of 2025 Financial Highlights Total revenues for the six-month period ended June 30, 2025 increased 34% to $30.2 million, compared to $22.4 million for the comparable six-month period in 2024. SaaS revenue grew 36% to $28.0 million for the six months ended June 30, 2025, versus $20.6 million for the comparable period in 2024. Gross profit was $22.6 million, up 36% from $16.6 million in gross profit for the first half of 2024. Gross margin for the first half of 2025 was 75%, compared to 74% for the first half of 2024. EBITDA1 for the first half of 2025 was $9.7 million, compared with $0.0 million for the first half of 2024. Adjusted EBITDA1 for the first half of 2025 was $2.7 million, compared with $2.2 million for the first half of 2024. Net income for the first half of 2025 was $1.8 million, compared with ($6.4) million for the first half of 2024. Recent Business Highlights In April 2025, Kneat announced that it signed a Services Agreement with a multinational producer of generic pharmaceuticals. The Company, which operates more than a dozen manufacturing facilities around the world and employs more than 20,000 people, will initially use Kneat to digitize its drawing management process. In early May 2025, Kneat saw record attendance at VALIDATE, its annual event convening validation and quality professionals from around the world. 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In June 2025, Kneat announced that it signed a multi-year Master Services Agreement with a leading global healthcare technology company. The Company, which employs over 50,000 people and manufactures in more than a dozen countries worldwide, will use the Kneat Gx platform initially to digitize its Commissioning, Qualification and Validation workflows for facilities, equipment and computer systems at several lead manufacturing sites. Also in June 2025, Kneat announced the retirement of its CFO Hugh Kavanagh. The role will be filled by Dave O'Reilly, who joined Kneat in July. Dave served most recently as CFO of Ekco, a leading European managed security service provider, which he helped scale from startup to a business with $200 million in annual revenue. Prior to his time at Ekco he led the international finance function for a $4 billion-SaaS business, Consensus Cloud Solutions/Ziff Davis Inc., formerly J2 Global. In July, Kneat launched Kneat Gx 9.5, which advances the data management capabilities of our platform. New features include greater management and control over discrete datasets; deeper functionality for defining, regulating and tracing datasets to align with risk-based validation; and more advanced filtering and visibility for Requirements, Risks and Test evidence, critical pillars of effective and efficient validation. These features enable users to save time by leveraging data across more projects than ever before; empowering risk-based validation processes such as Computer Software Assurance; and exerting greater control over traceability that adapts to any workflow. 'Kneat's long history of solid execution is extended with the results reported today. I look forward to continuing the disciplined financial stewardship that precedes me in this role, and with it, Kneat's continuous scaling of the value we deliver to the Life Sciences industry." - Dave O'Reilly, Chief Financial Officer of Kneat. Quarterly Conference Call Eddie Ryan, Chief Executive Officer of Kneat and Dave O' Reilly, Chief Financial Officer of Kneat, along with outgoing Chief Financial Officer, Hugh Kavanagh, will host a conference call to discuss Kneat's second-quarter results and hold a Q&A for analysts and investors via webcast on Wednesday, August 6, 2025, at 9:00 a.m. ET. Interested parties can register for the live webcast via the following link: Register Here. About Kneat Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show up to 40% reduction in documentation cycle times, up to 20% faster speed to market, and a higher compliance standard. For more information visit Supplementary and Non-IFRS Financial Measures The Company uses supplementary financial measures as key performance indicators in its MD&A and other communications. Management uses both IFRS measures and supplementary, non-IFRS financial measures as key performance indicators when planning, monitoring and evaluating the Company's performance. Annual Recurring Revenue ('ARR') Kneat management use ARR to evaluate and assess the Company's performance, identify trends affecting its business, formulate financial projections and make financial decisions. The Company believes that ARR is a useful metric for investors as it provides a measure of the value of the recurring revenue at a point in time (end date of the relevant quarter). ARR is based on signed agreements and indicates the level of recurring revenue that the Company would anticipate reporting in a 12-month period based on the full annual SaaS and maintenance fees for existing customers. In specific circumstances, the Company may utilize pricing incentives for limited contract periods. These incentives are not included in the calculation of ARR. ARR is used by Kneat to assess the expected recurring revenues from the customers that are live on the Kneat Gx platform at the end of the period. ARR is calculated using the licenses delivered to customers at the period end, multiplied by the expected customer retention rate of 100% and multiplied by the full agreed annual SaaS license or maintenance fee. Since many of the customer contracts are in currencies other than the Canadian dollar, the Canadian dollar equivalent is calculated using the related period end exchange rate multiplied by the contracted currency amount. Earnings before Interest, Taxes, Depreciation and Amortization ('EBITDA') EBITDA is calculated as net income (loss) attributable to excluding interest income (expense), provision for income taxes, depreciation and amortization. We provide and use this non-IFRS measure of our operating performance to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures and to inform financial comparisons with other companies. A reconciliation of EBITDA to IFRS financial measures is provided in the financial statements accompanying this press release. Adjusted Earnings before Interest, Taxes, Depreciation and Amortization ('Adjusted EBITDA') Adjusted EBITDA is calculated as net income (loss) attributable to excluding interest income (expense), provision for income taxes, depreciation and amortization, foreign exchange gain and stock-based compensation expense. We provide and use this non-IFRS measure of our operating performance to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures and to inform financial comparisons with other companies. A reconciliation of Adjusted EBITDA to IFRS financial measures is provided in the financial statements accompanying this press release. Cautionary and Forward-Looking Statements Except for the statements of historical fact contained herein, certain information presented constitutes 'forward-looking information' within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, the relationship between Kneat and the customer, Kneat's business development activities, the use and implementation timelines of Kneat's software within the customer's validation processes, the ability and intent of the customer to scale the use of Kneat's software within the customer's organization, our ability to win business from new customers and expand business from existing customers, our expected use of the net proceeds from the IPF Facility and the public equity financing completed in both February and October 2024 and the anticipated effects thereof on the business and operations of the company, and the compliance of Kneat's platform under regulatory audit and inspection. These and other assumptions, risks and uncertainties may cause Kneat's actual results, performance, achievements and developments to differ materially from the results, performance, achievements or developments expressed or implied by forward-looking statements. Material risks and uncertainties relating to our business are described under the headings 'Cautionary Note Regarding Forward-Looking Statements and Information' and 'Risk Factors' in our MD&A dated August 5, 2025, under the heading 'Risk Factors' in our Annual Information Form dated February 26, 2025 and in our other public documents filed with Canadian securities regulatory authorities, which are available at Forward-looking statements are provided to help readers understand management's expectations as at the date of this release and may not be suitable for other purposes. Readers are cautioned not to place undue reliance on forward-looking statements. Kneat assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investor's own risk. For further information: Katie Keita, Kneat Investor RelationsP: + 1-902-450-2660E: Condensed Interim Consolidated Statements of Income/(Loss) and Comprehensive Loss Three-monthperiod ended June 30, 2025 Three-monthperiod ended June 30, 2024 Six-monthperiod ended June 30, 2025 Six-monthperiod ended June 30, 2024 $ $ $ $ Revenue 15,405,109 11,675,734 30,152,750 22,442,735 Cost of revenue (3,777,809 ) (2,982,094 ) (7,600,954 ) (5,816,109 ) Gross profit 11,627,300 8,693,640 22,551,796 16,626,626 Expenses Research and development (5,702,497 ) (4,761,889 ) (10,401,162 ) (8,807,437 ) Sales and marketing (6,129,942 ) (4,368,485 ) (11,246,419 ) (8,400,169 ) General and administrative (3,792,405 ) (2,194,999 ) (6,304,034 ) (4,300,588 ) Operating loss (3,997,544 ) (2,631,733 ) (5,399,819 ) (4,881,568 ) Finance expense (877,545 ) (870,905 ) (1,766,090 ) (1,738,356 ) Interest income 151,053 172,999 349,692 208,075 Foreign exchange gain 4,429,193 258,049 8,691,793 19,286 (Loss) income before income taxes (294,843 ) (3,071,590 ) 1,875,576 (6,392,563 ) Income tax expense (84,299 ) (28,553 ) (108,729 ) (44,440 ) Net (loss) income for the period (379,142 ) (3,100,143 ) 1,766,847 (6,437,003 ) Other comprehensive loss Foreign currency translation adjustment to presentation currency (1,833,771 ) (234,170 ) (3,832,292 ) (43,276 ) Comprehensive loss for the period (2,212,913 ) (3,334,313 ) (2,065,445 ) (6,480,279 ) (Loss)/Earnings per share - Basic and diluted (0.00 ) (0.04 ) 0.02 (0.08 ) Weighted-average number of common shares outstanding: Basic 94,728,598 85,581,420 94,469,559 83,293,224 Diluted 94,728,598 85,581,420 97,985,267 83,293,224 Reconciliation: Net (loss) income for the period (379,142 ) (3,100,143 ) 1,766,847 (6,437,003 ) Finance expense 877,545 870,905 1,766,090 1,738,356 Interest income (151,053 ) (172,999 ) (349,692 ) (208,075 ) Income tax expense 84,299 28,553 108,729 44,440 Depreciation charge 181,718 190,394 358,719 381,615 Amortization of intangible assets charge 3,155,635 2,688,851 6,002,381 4,523,062 EBITDA 3,769,002 505,561 9,653,074 42,395 Adjustments to EBITDA Foreign exchange gain (4,429,193 ) (258,049 ) (8,691,793 ) (19,286 ) Stock based compensation 1,090,175 1,338,990 1,787,193 2,151,163 Adjusted EBITDA 429,984 1,586,502 2,748,474 2,174,272 Condensed Interim Consolidated Statements of Financial Position June 30,2025 December 31, 2024 $ $ Assets Current assets Cash 66,771,997 58,889,572 Amounts receivable 11,176,423 18,377,009 Prepayments 1,861,908 1,870,095 79,810,328 79,136,676 Non-current assets Amounts receivable 4,798,361 2,368,006 Property and equipment 8,057,345 6,782,179 Intangible asset 41,999,419 36,290,869 Total Assets 134,665,453 124,577,730 Liabilities Current liabilities Accounts payable and accrued liabilities 11,071,328 8,580,104 Contract liabilities 26,550,906 21,631,416 Loan payable 6,012,075 4,116,723 Lease liabilities 401,739 434,096 44,036,048 34,762,339 Non-current liabilities Contract liabilities 3,063 33,393 Loan payable and accrued interest 17,338,181 19,038,203 Lease liabilities 6,911,364 5,671,952 Total Liabilities 68,288,656 59,505,887 Equity Shareholders' equity 66,376,797 65,071,843 Total Liabilities and Equity 134,665,453 124,577, Condensed Interim Consolidated Statement of Cash Flows Six-monthperiod ended June 30, 2025 Six-monthperiod ended June 30, 2024 Operating activities $ $ Net income (loss) for the period 1,766,847 (6,437,003 ) Charges to income (loss) not involving cash: Depreciation of property and equipment 358,719 381,615 Share-based compensation 1,787,193 2,151,163 Interest expense 1,672,870 1,738,356 Tax expense 108,729 44,440 Amortization of the intangible asset 6,002,381 4,523,062 Amortization of loan issuance costs 93,220 76,194 Foreign exchange gain (8,691,793 ) (19,286 ) (Decrease)/increase in non-current contract liabilities (31,359 ) 38,241 Net change in non-cash operating working capital related to operations 12,481,190 7,533,596 Net cash provided by operating activities 15,547,997 10,030,378 Financing activities Proceeds received from public equity financing - 20,000,110 Share issuance costs associated with public equity financing - (1,626,257 ) Payment of principal and interest on loans payable (3,154,648 ) (1,232,889 ) Proceeds from the exercise of stock options 989,061 1,051,787 Repayment of lease liabilities (394,650 ) (364,423 ) Net cash (used in)/provided by financing activities (2,560,237 ) 17,828,328 Investing activities Additions to the intangible asset (10,599,886 ) (9,675,371 ) Additions to property and equipment (96,462 ) (50,397 ) Collection of research and development tax credits 1,887,789 2,336,619 Net cash used in investing activities (8,808,559 ) (7,389,149 ) Effects of exchange rates on cash 3,703,224 170,762 Net change in cash during the period 7,882,425 20,640,319 Cash – Beginning of period 58,889,572 15,252,526 Cash – End of period 66,771,997 35,892,845 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Cboe Global Markets Reports Trading Volume for July 2025
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Average Daily Trading Volume (ADV) by Month Year-To-Date Jul 2025 Jul 2024 % Chg Jun 2025 % Chg Jul 2025 Jul 2024 % Chg Multiply-listed options (contracts, k) 12,215 11,145 9.6 % 11,836 3.2 % 12,886 10,642 21.1 % Index options (contracts, k) 4,469 4,140 8.0 % 4,639 -3.7 % 4,688 4,065 15.3 % Futures (contracts, k)1 178 267 -33.3 % 185 -3.8 % 226 242 -6.3 % U.S. Equities - On-Exchange (matched shares, mn) 1,790 1,280 39.9 % 1,780 0.6 % 1,785 1,404 27.2 % U.S. Equities - Off-Exchange (matched shares, mn) 141 76 84.8 % 123 14.4 % 113 78 45.2 % Canadian Equities (matched shares, k) 150,096 122,608 22.4 % 146,058 2.8 % 154,298 144,633 6.7 % European Equities (€, mn) 12,490 9,229 35.3 % 11,811 5.7 % 13,560 9,665 40.3 % Cboe Clear Europe Cleared Trades (k) 122,973 105,831 16.2 % 110,623 11.2 % 935,981 699,176 33.9 % Cboe Clear Europe Net Settlements (k) 1,236 1,022 20.9 % 1,090 13.4 % 7,726 6,311 22.4 % Australian Equities (AUD, mn) 870 771 12.8 % 951 -8.5 % 884 764 15.7 % Global FX ($, mn) 48,514 45,586 6.4 % 51,222 -5.3 % 53,135 46,340 14.7 % 1 In the second quarter of 2025, Digital futures products were transitioned to Cboe Futures Exchange. Futures metrics prior to the second quarter of 2025 exclude Digital futures products. July 2025 Trading Volume Highlights U.S. Options Cboe's S&P 500 Index (SPX) and Mini-SPX Index (XSP) options set monthly volume records in zero-days-to-expiry (0DTE) trading, with 0DTE ADVs of 2.2 million and 60 thousand contracts, respectively. SPX options recorded its third most active trading day of all time on July 31 with 4.8 million contracts traded. European Equities Cboe Europe Equities hit record market shares in July for both overall trading (26.6%) and continuous trading (34.7%). About Cboe Global MarketsCboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit Cboe Media ContactsCboe Analyst Contact Angela Tu Tim CaveKenneth Hill, CFA +1-917-985-1496 +44 (0) 7593-506-719+1-312-786-7559 atu@ tcave@ CBOE-V Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor's®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners. Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor's or Cboe and neither Standard & Poor's nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners. Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein. Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation. Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release. There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. View original content to download multimedia: SOURCE Cboe Global Markets, Inc.
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GM Says Nurburgring Lap Times Still Matter. Here's Why It's Right
The latest car news, reviews, and features. Shocking nobody, GM has gone on record this week saying that Nürburgring lap times still matter. When you're spending millions of dollars on something, that says plenty on its own. But if you're paying somebody as talented as Bob Sorakanich to do your talking for you, you might as well let the man cook. I won't rehash his points here; they're precisely what you'd expect from a company that is locked in an expensive development battle with a cross-town rival. And say what you will about the current state of the automotive industry, but this game of lap time leapfrog is a breath of fresh air in an industry that is facing what amounts to a crisis of passion. But there's hope on that front, even if it comes in unusual forms. So long as there are engineers who want to be the best at what they do, that hunger will always manifest itself. We don't need the 'Ring to keep the automakers passionate. We need it to keep them honest . Ford Say what you will about what 'Ring-focused development has done to the modern luxury car. No, really. You're right. For the vast majority of cars developed at least in part at what amounts to Germany's least efficient toll road, the lap time itself is entirely irrelevant. If anything, many automakers are trying to stretch their time on track in an effort to learn as much as possible about the real-world performance of the cars they're testing. Save for a precious few, the countless prototypes we see testing somewhere in or around the facility will never grace its record board. And many things we now take for granted are a product of the 'Ring, its green hills rising like a high-performance tide, lifting the collective expectations of buyers who have been trained that newer must be bigger, faster, and more expensive. It's a mixed bag, I'll readily admit. I hate putting new summer tires on 20- and 21-inch wheels just as much as you do. But in an information climate where corporations are being empowered to set narratives as they see fit, the 'Ring remains a reliable anchor point. Words are cheaper than they've ever been; paying Bob to say Chevy believes in the 'Ring costs a lot less than actually taking a car there to prove it, that's for sure. So, as long as automakers remain willing to put their money where their mouth is, I say hell yes, 'Ring times still matter. And you should too. Got a tip on an automaker putting its money where their mouth is? Hit us up at tips@ .
