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University Wafer, Inc. Expands Leadership in Compound Semiconductor Substrates, Serving Global Research Demands

University Wafer, Inc. Expands Leadership in Compound Semiconductor Substrates, Serving Global Research Demands

BOSTON, MA, UNITED STATES, March 12, 2025 / EINPresswire.com / -- University Wafer, Inc., a leading supplier of semiconductor substrates and services, proudly announces the expansion of its extensive range and expertise in compound semiconductor substrates. Amid growing global challenges in sourcing critical materials like gallium and indium due to geopolitical tensions, export restrictions, and fluctuating market availability, University Wafer, Inc. has proactively secured robust supply chains, ensuring uninterrupted availability for customers worldwide.
With decades of industry experience and unmatched technical expertise, University Wafer continues to support cutting-edge research and development across diverse fields, including optoelectronics, telecommunications, power electronics, and photonics.
Compound semiconductors, formed by combining elements from different groups of the periodic table, exhibit unique electrical, optical, and thermal characteristics distinct from traditional silicon substrates. These materials offer significantly higher electron mobility, direct bandgap properties, and superior thermal stability, making them ideal for advanced technological applications.
University Wafer specializes in providing an extensive range of compound semiconductor substrates, including Gallium Arsenide (GaAs), Indium Phosphide (InP), Gallium Nitride (GaN), Silicon Carbide (SiC), Cadmium Telluride (CdTe), Zinc Selenide (ZnSe), and more. Recognizing the difficulties faced by many organizations in securing gallium and indium, University Wafer leverages established global partnerships and diversified sourcing strategies to ensure a stable supply. The company's expert team offers tailored guidance and technical assistance to help customers select substrates tailored to their specific project requirements.
'We are committed to empowering our clients' innovation by providing not only a vast selection of substrates but also reliable access to materials like gallium and indium, which have become increasingly challenging to source,' says Christian Baker, Founder/CEO University Wafer . 'Our robust supply chain strategies and longstanding global relationships enable us to consistently meet customer needs despite external market disruptions.'
University Wafer's GaAs substrates are integral to the rapidly growing field of RF and microwave electronics, crucial for telecommunications, radar, and satellite communication technologies. Their low defect densities and excellent electron mobility support efficient, high-frequency operations, making them critical for 5G technology deployment and beyond.
Similarly, University Wafer offers high-quality GaN substrates, which are revolutionizing power electronics and LED technology, delivering high efficiency, reliability, and performance in power management applications, including electric vehicles, renewable energy, and LED lighting.
In the realm of III-V substrates, Indium Phosphide (InP) provided by University Wafer is essential for fiber-optic communications and high-speed electronics. With bandwidth demand continuously rising, InP substrates empower industries to achieve faster, more efficient data transmission, vital for next-generation internet infrastructure and 5G technology.
Complementing their III-V product line, University Wafer's inventory of II-VI compound substrates, such as Cadmium Telluride (CdTe), Zinc Selenide (ZnSe), and Mercury Cadmium Telluride (HgCdTe), addresses specialized optical and sensing applications. CdTe substrates are notably utilized in advanced solar cells, providing superior efficiency and lower manufacturing costs compared to traditional silicon-based photovoltaics.
Zinc Selenide (ZnSe) and Zinc Sulfide (ZnS) substrates from University Wafer are crucial in infrared optics and laser systems, supporting industries such as defense, aerospace, and industrial laser applications. Meanwhile, HgCdTe substrates continue to dominate infrared imaging and night vision technologies, supporting defense and aerospace missions globally.
The rise of Silicon Carbide (SiC) as a superior substrate for high-power and high-temperature electronic devices has made it a cornerstone offering from University Wafer. SiC substrates deliver enhanced performance, reliability, and thermal conductivity, key in power electronic devices like electric vehicle charging infrastructure, power inverters, and renewable energy systems.
Beyond offering diverse substrates, University Wafer sets itself apart through comprehensive expertise, assisting clients with technical guidance on selecting substrates best suited to their unique applications. By leveraging decades of experience and extensive technical knowledge, the company supports clients throughout the process, from substrate selection to post-sales technical advice.
'Our deep industry expertise allows us to provide informed recommendations and technical support to our clients,' says Mr. Baker. 'We ensure researchers, developers, and manufacturers have the right substrates, enabling innovation and accelerating the development cycle.'
University Wafer's efficient quoting and streamlined procurement process ensures rapid delivery worldwide, meeting tight deadlines critical to R&D projects and industrial production schedules. With thousands of standard and custom substrates in stock, the company is prepared to fulfill even niche or highly specialized requests.
UniversityWafer, Inc. prides itself on being responsive, knowledgeable, and reliable partners to our global customer base. Our reputation is built on our ability to deliver hard-to-find substrates quickly, maintaining our customers' competitive edge in the fast-paced technology market.
In addition to standard offerings, University Wafer provides customized substrates tailored to precise specifications, including variations in doping levels, crystal orientation, thickness, and surface treatments. Their deep expertise in semiconductor materials positions them as a trusted advisor and partner in complex semiconductor projects.
As technological advancements continue, compound semiconductor substrates from University Wafer play an increasingly critical role across emerging sectors, such as quantum computing, biomedical sensors, and next-generation optoelectronics. Their commitment to excellence, customer-focused service, and technical depth ensures sustained leadership in the semiconductor industry.
UniversityWafer, Inc.'s mission has always been clear: support innovation by providing high-quality, reliable semiconductor substrates and unmatched expertise. As technology evolves and sourcing becomes more complex, we continuously expand and refine our inventory and capabilities, ensuring University Wafer remains a pivotal resource for groundbreaking semiconductor research and manufacturing worldwide.
For further information, to request a quote, or to discuss specific semiconductor substrate requirements, please visit University Wafer, Inc. online at universitywafers.com.
About University Wafer, Inc.
University Wafer, Inc. is a leading supplier of semiconductor wafers and substrates globally, serving academia, industry, and research institutions. Renowned for its extensive product selection, technical expertise, and superior customer support, the company continues to facilitate cutting-edge innovations across various semiconductor applications.
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UniversityWafer, Inc.
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Cactus Announces Second Quarter 2025 Results
Cactus Announces Second Quarter 2025 Results

Business Wire

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  • Business Wire

Cactus Announces Second Quarter 2025 Results

HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) ('Cactus' or the 'Company') today announced financial and operating results for the second quarter of 2025. Second Quarter Highlights Revenue of $273.6 million and operating income of $60.8 million; Net income of $49.0 million and diluted earnings per Class A share of $0.59; Adjusted net income (1) of $53.2 million and diluted earnings per share, as adjusted (1) of $0.66; Net income margin of 17.9% and adjusted net income margin (1) of 19.5%; Adjusted EBITDA (2) and Adjusted EBITDA margin (2) of $86.7 million and 31.7%, respectively; Cash flow from operations of $82.8 million; Cash and cash equivalents of $405.2 million, with no bank debt outstanding as of June 30, 2025; Signed an agreement to acquire a 65% majority interest in Baker Hughes' Surface Pressure Control business; and In July 2025, the Board of Directors approved an 8% increase in the dividend to $0.14 per Class A share per quarter and declared a quarterly dividend of that amount. Financial Summary Three Months Ended June 30, March 31, June 30, 2025 2025 2024 (in thousands) Revenues $ 273,575 $ 280,319 $ 290,389 Operating income (3) $ 60,805 $ 68,612 $ 79,819 Operating income margin 22.2 % 24.5 % 27.5 % Net income $ 49,047 $ 54,105 $ 63,059 Net income margin 17.9 % 19.3 % 21.7 % Adjusted net income (1) $ 53,249 $ 58,816 $ 65,192 Adjusted net income margin (1) 19.5 % 21.0 % 22.4 % Adjusted EBITDA (2) $ 86,677 $ 93,841 $ 103,637 Adjusted EBITDA margin (2) 31.7 % 33.5 % 35.7 % Expand (1) Adjusted net income, Adjusted net income margin and diluted earnings per share, as adjusted are non-GAAP financial measures. These figures assume Cactus, Inc. held all units in its operating subsidiary at the beginning of the period. Additional information regarding non-GAAP financial measures, including the definitions of these measures and the reconciliation of GAAP to non-GAAP financial measures are in the Supplemental Information tables. (2) Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. See the definitions of these measures and the reconciliation of GAAP to non-GAAP financial measures in the Supplemental Information tables. (3) Operating income reflects certain expenses related to the FlexSteel acquisition, including expenses related to the remeasurement of the earn-out liability associated with the FlexSteel acquisition and intangible amortization expenses related to purchase price accounting. See the reconciliation of GAAP to non-GAAP financial measures in the Supplemental Information tables for further details. Expand Scott Bender, CEO and Chairman of the Board of Cactus, commented, 'Our second quarter performance highlights the benefits of portfolio diversification achieved through the FlexSteel acquisition, as cash flows and revenues remained resilient despite falling U.S. land activity levels. Spoolable Technologies revenues increased and margins exceeded expectations on improved manufacturing efficiency in the quarter. Pressure Control revenues declined more than expected, largely driven by lower frac equipment rental, while our product sales outperformed the quarter-over-quarter decline in the average U.S. land rig count reflecting our market share strength. Pressure Control margins were unfavorably impacted by tariffs as we exited the second quarter, particularly given the unexpected doubling of the Section 232 tariff announced and implemented in the quarter.' 'In the third quarter of 2025, we anticipate that the U.S. land rig count will continue to decline, although we believe that the majority of the reductions for 2025 are behind us provided commodity prices remain relatively stable near today's levels. We expect revenues to be down modestly in both segments, following the lower average domestic activity levels.' Mr. Bender concluded, 'The second quarter was transformational for Cactus as we announced the agreement to acquire a 65% majority interest in Baker Hughes' Surface Pressure Control business. Our integration planning work is progressing smoothly, and I am particularly pleased with the customer response to our Joint Venture announcement. Adjusting to lower North American activity levels and tariff uncertainties that have negatively impacted margins, we have recently taken action to right-size our organization to align with expectations for the second half of the year. The current softness in the North American market and the ongoing tariff uncertainty emphasized the strategic rationale for our planned acquisition of the Surface Pressure Control business of Baker Hughes, which will provide Cactus with a broader geographic footprint and further revenue diversification.' Segment Performance We report two business segments, Pressure Control and Spoolable Technologies. Corporate and other expenses not directly attributable to either segment are presented separately as Corporate and Other expenses. Pressure Control Second quarter 2025 Pressure Control revenue decreased $10.5 million, or 5.5%, sequentially, primarily due to lower rental revenues and lower sales of wellhead and production related equipment resulting from reduced activity levels in the quarter. Operating income decreased $12.0 million, or 22.1%, sequentially, with margins declining 510 basis points due to tariff impacts to product margins and increased legal expenses and reserves recognized in connection with litigation claims. Adjusted Segment EBITDA decreased $11.7 million, or 18.0%, sequentially, with Adjusted Segment EBITDA margins decreasing 450 basis points. Spoolable Technologies Second quarter 2025 Spoolable Technologies revenues increased $3.6 million, or 3.9%, sequentially, due to higher customer activity levels in the seasonally stronger second quarter. Operating income improved $4.2 million, or 17.5%, sequentially, on higher volume, while margins increased 340 basis points on higher operating leverage. Adjusted Segment EBITDA was higher by $4.4 million, or 13.2%, sequentially, with Adjusted Segment EBITDA margins improving 320 basis points. Corporate and Other Expenses Second quarter 2025 Corporate and Other expenses were flat sequentially. Second quarter Corporate and Other expenses contained $3.5 million of transaction-related expenses related to the announced plan to acquire a majority interest in Baker Hughes' Surface Pressure Control business, flat from the first quarter. Liquidity, Capital Expenditures and Other As of June 30, 2025, the Company had $405.2 million of cash and cash equivalents, no bank debt outstanding, and $222.6 million of availability on our revolving credit facility. Operating cash flow was $82.8 million for the second quarter of 2025. During the second quarter, the Company made dividend payments and associated distributions of $10.4 million. Net capital expenditures were $11.1 million during the second quarter of 2025. For the full year 2025, the Company now expects net capital expenditures to be in the range of $40 to $45 million, inclusive of capital directed towards supply chain diversification efforts and efficiency improvements in the Baytown manufacturing facility. We are continuing to evaluate our capital spending program for the year given lower market activity levels. As of June 30, 2025, Cactus had 68,574,875 shares of Class A common stock outstanding (representing 85.9% of the total voting power) and 11,259,495 shares of Class B common stock outstanding (representing 14.1% of the total voting power). Quarterly Dividend The Board of Directors has approved a quarterly cash dividend of $0.14 per share of Class A common stock with payment to occur on September 18, 2025 to holders of record of Class A common stock at the close of business on August 29, 2025. A corresponding distribution of up to $0.14 per CC Unit has also been approved for holders of CC Units of Cactus Companies, LLC. Conference Call Details The Company will host a conference call to discuss financial and operational results tomorrow, Thursday July 31, 2025 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). The call will be webcast on Cactus' website at Please access the webcast for the call at least 10 minutes ahead of the start time to ensure a proper connection. Analysts and institutional investors may click here to pre-register for the conference call. An archived webcast of the conference call will be available on the Company's website shortly after the end of the call. About Cactus, Inc. Cactus designs, manufactures, sells or rents a range of highly engineered pressure control and spoolable pipe technologies. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers' wells. In addition, it provides field services for its products and rental items to assist with the installation, maintenance and handling of the equipment. Cactus operates service centers throughout North America and Australia, while also providing equipment and services in select international markets. Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release and oral statements made regarding the matters addressed in this release constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Cactus' control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology including 'may,' 'believe,' 'expect,' 'intend,' 'anticipate,' 'plan,' 'should,' 'estimate,' 'continue,' 'potential,' 'will,' 'hope,' 'opportunity,' or other similar words and include the Company's expectation of future performance contained herein. These statements discuss future expectations, contain projections of results of operations or of financial condition, or state other 'forward-looking' information. You are cautioned not to place undue reliance on any forward-looking statements, which can be affected by assumptions used or by risks or uncertainties. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other factors noted in the Company's Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q and the other documents that the Company files with the Securities and Exchange Commission. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any forward-looking statement. Cactus disclaims any duty to update and does not intend to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. (1) Represents the elimination of inter-segment revenue for sales from our Pressure Control segment to our Spoolable Technologies segment. (2) Dilution for the three months ended June 30, 2025, June 30, 2024, and the six months ended June 30, 2025, excludes 11.3, 13.4 and 11.4 million shares of Class B common stock, respectively, as the effect would be antidilutive. Dilution for the six months ended June 30, 2024 includes an additional $24.9 million of pre-tax income attributable to non-controlling interest adjusted for a corporate effective tax rate of 26.0% and 13.7 million weighted average shares of Class B common stock plus the effect of dilutive securities. Expand Cactus, Inc. Condensed Consolidated Balance Sheets (unaudited) June 30, December 31, 2025 2024 (in thousands) Assets Current assets Cash and cash equivalents $ 405,177 $ 342,843 Accounts receivable, net 207,283 191,627 Inventories 246,420 226,796 Prepaid expenses and other current assets 14,471 13,422 Total current assets 873,351 774,688 Property and equipment, net 349,161 346,008 Operating lease right-of-use assets, net 22,117 24,094 Intangible assets, net 155,998 163,991 Goodwill 203,028 203,028 Deferred tax asset, net 207,106 219,003 Investment in unconsolidated affiliates 5,773 — Other noncurrent assets 7,995 8,516 Total assets $ 1,824,529 $ 1,739,328 Liabilities and Equity Current liabilities Accounts payable $ 83,142 $ 72,001 Accrued expenses and other current liabilities 64,128 75,416 Current portion of liability related to tax receivable agreement 20,297 20,297 Finance lease obligations, current portion 7,354 7,024 Operating lease liabilities, current portion 5,042 4,086 Total current liabilities 179,963 178,824 Deferred tax liability, net 2,197 2,868 Liability related to tax receivable agreement, net of current portion 259,732 258,376 Finance lease obligations, net of current portion 11,681 10,528 Operating lease liabilities, net of current portion 17,944 20,078 Other noncurrent liabilities 4,475 4,475 Total liabilities 475,992 475,149 Equity 1,348,537 1,264,179 Total liabilities and equity $ 1,824,529 $ 1,739,328 Expand Cactus, Inc. Condensed Consolidated Statements of Cash Flows (unaudited) Six Months Ended June 30, 2025 2024 (in thousands) Cash flows from operating activities Net income $ 103,152 $ 112,874 Reconciliation of net income to net cash provided by operating activities Depreciation and amortization 31,564 30,047 Deferred financing cost amortization 559 560 Stock-based compensation 12,371 10,373 Provision for expected credit losses 300 589 Inventory obsolescence 902 3,035 Gain on disposal of assets (389 ) (1,674 ) Deferred income taxes 12,775 7,915 Change in fair value of earn-out liability — 16,180 Changes in operating assets and liabilities: Accounts receivable (15,715 ) (358 ) Inventories (20,253 ) (4,340 ) Prepaid expenses and other assets (1,009 ) 429 Accounts payable 11,175 (8,577 ) Accrued expenses and other liabilities (11,052 ) 12,442 Payments pursuant to tax receivable agreement — (15,277 ) Net cash provided by operating activities 124,380 164,218 Cash flows from investing activities Investment in unconsolidated affiliate (6,000 ) — Capital expenditures and other (22,168 ) (17,371 ) Proceeds from sales of assets 1,661 3,317 Net cash used in investing activities (26,507 ) (14,054 ) Cash flows from financing activities Payments on finance leases (3,940 ) (3,954 ) Dividends paid to Class A common stock shareholders (18,153 ) (16,135 ) Distributions to members (8,743 ) (8,617 ) Repurchases of shares (5,710 ) (8,489 ) Net cash used in financing activities (36,546 ) (37,195 ) Effect of exchange rate changes on cash and cash equivalents 1,007 (258 ) Net increase in cash and cash equivalents 62,334 112,711 Cash and cash equivalents Beginning of period 342,843 133,792 End of period $ 405,177 $ 246,503 Expand Cactus, Inc. – Supplemental Information Reconciliation of GAAP to non-GAAP Financial Measures Adjusted net income, diluted earnings per share, as adjusted and adjusted net income margin (unaudited) Adjusted net income, diluted earnings per share, as adjusted and adjusted net income margin are not measures of net income as determined by GAAP but they are supplemental non-GAAP financial measures that are used by management and external users of the Company's consolidated financial statements. Cactus defines adjusted net income as net income assuming Cactus, Inc. held all units in its operating subsidiary at the beginning of the period, with the resulting additional income tax expense related to the incremental income attributable to Cactus, Inc. Adjusted net income also includes certain other adjustments described below. Cactus defines diluted earnings per share, as adjusted as Adjusted net income divided by weighted average shares outstanding, as adjusted. Cactus defines Adjusted net income margin as Adjusted net income divided by total revenue. The Company believes this supplemental information is useful for evaluating performance period over period. (1) Represents non-routine charges related to severance benefits. (2) Reflects transaction fees and expenses recorded in connection with the announced acquisition of a majority interest in Baker Hughes' Surface Pressure Control business. (3) Reflects amortization expense associated with the step-up in intangible value due to purchase price accounting. (4) Represents adjustments for the remeasurement of the earn-out liability associated with the FlexSteel acquisition. (5) Represents the increase or decrease in tax expense as though Cactus, Inc. owned 100% of its operating subsidiary at the beginning of the period, calculated as the difference in tax expense recorded during each period and what would have been recorded, adjusted for pre-tax items listed above, based on a corporate effective tax rate of 25% on income before income taxes for the three months ended June 30, 2025 and March 31, 2025, and 26.0% for the three months ended June 30, 2024. (6) Reflects 68.5, 68.2, and 66.1 million weighted average shares of basic Class A common stock outstanding and 11.3, 11.4 and 13.4 million additional shares for the three months ended June 30, 2025, March 31, 2025, and June 30, 2024, respectively, as if the weighted average shares of Class B common stock were exchanged and cancelled for Class A common stock at the beginning of the period, plus the effect of dilutive securities. Expand Cactus, Inc. – Supplemental Information Reconciliation of GAAP to non-GAAP Financial Measures EBITDA, Adjusted EBITDA and Adjusted EBITDA margin (unaudited) EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are not measures of net income as determined by GAAP but are supplemental non-GAAP financial measures that are used by management and external users of the Company's consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. Cactus defines EBITDA as net income excluding net interest, income tax and depreciation and amortization. Cactus defines Adjusted EBITDA as EBITDA excluding the other items outlined below. Cactus management believes EBITDA and Adjusted EBITDA are useful because they allow management to more effectively evaluate the Company's operating performance and compare the results of its operations from period to period without regard to financing methods or capital structure, or other items that impact comparability of financial results from period to period. EBITDA and Adjusted EBITDA should not be considered as alternatives to, or more meaningful than, net income or any other measure as determined in accordance with GAAP. The Company's computations of EBITDA and Adjusted EBITDA may not be comparable to other similarly titled measures of other companies. Cactus defines Adjusted EBITDA margin as Adjusted EBITDA divided by total revenue. Cactus presents this supplemental information because it believes it provides useful information regarding the factors and trends affecting the Company's business. Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, 2025 2025 2024 2025 2024 (in thousands) Net income $ 49,047 $ 54,105 $ 63,059 $ 103,152 $ 112,874 Interest income, net (2,518 ) (2,325 ) (1,405 ) (4,843 ) (2,094 ) Income tax expense 14,276 16,832 18,165 31,108 31,589 Depreciation and amortization 15,886 15,678 15,001 31,564 30,047 EBITDA 76,691 84,290 94,820 160,981 172,416 Severance expenses (1) 177 — — 177 — Transaction related expenses (2) 3,502 3,487 — 6,989 — Remeasurement loss on earn-out liability (3) — — 2,876 — 16,180 Stock-based compensation 6,307 6,064 5,941 12,371 10,373 Adjusted EBITDA $ 86,677 $ 93,841 $ 103,637 $ 180,518 $ 198,969 Revenue $ 273,575 $ 280,319 $ 290,389 $ 553,894 $ 564,512 Net income margin 17.9 % 19.3 % 21.7 % 18.6 % 20.0 % Adjusted EBITDA margin 31.7 % 33.5 % 35.7 % 32.6 % 35.2 % Expand (1) Represents non-routine charges related to severance benefits. (2) Reflects transaction fees and expenses recorded in connection with the announced acquisition of a majority interest in Baker Hughes' Surface Pressure Control business. (3) Represents adjustments for the remeasurement of the earn-out liability associated with the FlexSteel acquisition. Expand Cactus, Inc. – Supplemental Information Reconciliation of GAAP to non-GAAP Financial Measures Adjusted Segment EBITDA and Adjusted Segment EBITDA margin (unaudited) Adjusted Segment EBITDA and Adjusted Segment EBITDA margin are not measures of net income as determined by GAAP but are supplemental non-GAAP financial measures that are used by management and external users of the Company's consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. Cactus defines Adjusted Segment EBITDA as segment operating income excluding depreciation and amortization and the other items outlined below, in each case, that are attributable to the segment. Cactus management believes Adjusted Segment EBITDA is useful because it allows management to more effectively evaluate the Company's segment operating performance and compare the results of its segment operations from period to period without regard to financing methods or capital structure, or other items that impact comparability of financial results from period to period. Adjusted Segment EBITDA should not be considered as an alternative to, or more meaningful than, net income or any other measure as determined in accordance with GAAP. The Company's computations of Adjusted Segment EBITDA may not be comparable to other similarly titled measures of other companies. Cactus defines Adjusted Segment EBITDA margin as Adjusted Segment EBITDA divided by total segment revenue. Cactus presents this supplemental information because it believes it provides useful information regarding the factors and trends affecting the Company's business.

Fossil Group, Inc. Announces Date for Second Quarter 2025 Earnings Release and Conference Call
Fossil Group, Inc. Announces Date for Second Quarter 2025 Earnings Release and Conference Call

Yahoo

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Fossil Group, Inc. Announces Date for Second Quarter 2025 Earnings Release and Conference Call

RICHARDSON, Texas, July 30, 2025 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) announced today that it will report second quarter 2025 financial results after market close on Wednesday, August 13, 2025, followed by a conference call to discuss the results at 5:00 p.m. ET the same day. The call can be accessed live on the Company's investor relations website at and will also be archived for replay. About Fossil Group, Inc. Fossil Group, Inc. is a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of owned and licensed brands, our offerings include watches, jewelry, handbags, small leather goods, belts and sunglasses. We are committed to delivering the best in design and innovation across our owned brands, Fossil, Michele, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, Emporio Armani, kate spade new york, Michael Kors, Skechers and Tory Burch. We bring each brand story to life through an extensive distribution network across numerous geographies, categories, and channels. Certain press release and SEC filing information concerning the Company is also available at Investor Relations Contact: Christine Greany The Blueshirt Group (858) 722-7815 christine@

Aurora Begins Driverless Operations at Night and Opens Phoenix Terminal
Aurora Begins Driverless Operations at Night and Opens Phoenix Terminal

Business Wire

time23 minutes ago

  • Business Wire

Aurora Begins Driverless Operations at Night and Opens Phoenix Terminal

PITTSBURGH--(BUSINESS WIRE)--Aurora Innovation, Inc. (NASDAQ: AUR), the leader in self-driving trucks, today announced a significant expansion of its commercial operations, including surpassing 20,000 driverless miles at the end of June, recently growing its driverless fleet to three trucks, beginning driverless commercial operations at night, and opening its Phoenix terminal. Aurora has expanded driverless operations on the Dallas-to-Houston lane to now include nighttime driving. Share 'Efficiency, uptime, and reliability are important for our customers, and Aurora is showing we can deliver,' said Chris Urmson, co-founder and CEO of Aurora. 'Just three months after launch, we're running driverless operations day and night and we've expanded our terminal network to Phoenix. Our rapid progress is beginning to unlock the full value of self-driving trucks for our customers, which has the potential to transform the trillion-dollar trucking industry.' Delivering Increased Value with Day and Night Commercial Operations Aurora has expanded driverless operations on the Dallas-to-Houston lane to now include nighttime driving. This capability more than doubles truck utilization potential, significantly shortening delivery times on long-haul routes and creating a path to profitability for autonomous trucking. Autonomous trucks can also make roads safer. Due to low visibility and driver fatigue, a disproportionate 37% of fatal crashes involving large trucks occur at night. The Aurora Driver reliably sees and understands the world around it day and night without ever getting tired. Powered by Aurora's proprietary, long-range FirstLight Lidar, the Aurora Driver can detect objects in the dark more than 450 meters away, identifying pedestrians, vehicles, and debris up to 11-seconds sooner than a traditional driver. Aurora Opens Phoenix Terminal Aurora's new terminal in Phoenix opened in June and exemplifies an infrastructure-light approach that resembles how Aurora plans to integrate with future customer endpoints. This evolution optimizes for speed to market and enables Aurora's plan to deliver freight directly to customer endpoints. Fort Worth to Phoenix is nearly half the distance of the busy Atlanta to Los Angeles freight corridor, taking more than 15 hours to complete. Self-driving trucks can halve transit times, especially on long routes that exceed the 11-hour driving limit for human drivers. Aurora is currently making autonomous hauls on this lane for Hirschbach and Werner. To further build on its commitment to industry-leading transparency, Aurora launched Aurora Driver Live, a publicly available livestream of its self-driving truck operations. The livestream demonstrates the safety, reliability, and growing maturity of the Aurora Driver, offering a first-of-its-kind glimpse into the future of freight transportation. Aurora Announces Second Quarter 2025 Results Today the company also announced its second quarter 2025 results, including additional liquidity which the company expects to fund operations into Q2 2027. Aurora's shareholder letter and financial results are available on its investor relations website at The company will host a business review conference call today, July 30, at 5:00 p.m. ET. The conference call will be webcast on Aurora's investor relations website and an accompanying presentation has also been posted to the website. A replay will be accessible for 30 days following the call. About Aurora Aurora (Nasdaq: AUR) is delivering the benefits of self-driving technology safely, quickly, and broadly to make transportation safer, increasingly accessible, and more reliable and efficient than ever before. The Aurora Driver is a self-driving system designed to operate multiple vehicle types, from freight-hauling trucks to ride-hailing passenger vehicles, and underpins Aurora's driver as a service products for trucking and ride-hailing. Aurora is working with industry leaders across the transportation ecosystem, including Continental, FedEx, Hirschbach, NVIDIA, PACCAR, Ryder, Schneider, Toyota, Uber, Uber Freight, Volvo Trucks, Volvo Autonomous Solutions, and Werner. To learn more, visit Cautionary Statement Regarding Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the federal securities laws. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, the prospects of the development, manufacturing, scaling and commercialization, and realization of the potential benefits, of the Aurora Driver and FirstLight Lidar, and related services and technology, the relationships and anticipated benefits with customers and partners, and the anticipated impact of our product on the freight industry and economy. These statements are based on management's current assumptions and are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. For factors that could cause actual results to differ materially from the forward-looking statements in this press release, please see the risks and uncertainties identified under the heading 'Risk Factors' section of Aurora Innovation, Inc.'s ('Aurora') Annual Report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the 'SEC') on February 14, 2025, and other documents filed by Aurora from time to time with the SEC, which are accessible on the SEC website at Additional information will also be set forth in Aurora's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. Aurora undertakes no obligation to update forward-looking statements to reflect future events or circumstances.

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