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BOCA RATON, Fla., Nov. 12, 2020 /PRNewswire/ — (Nasdaq: CELH) Celsius Holdings Inc., maker of the leading global fitness drink, CELSIUS®, today reported financial results for the three and nine month periods ended September 30, 2020.

2020 Third Quarter Highlights:

• Revenue of $36.8 million, up 80% from $20.4 million in the year ago quarter.
• North American revenue increased 60% to $26.9 million, up from $16.8 million in the year ago quarter
• Driven by continued strong double-digit growth in traditional channels of trade and expansion with world class retail and distribution partners as well as 111% growth in ecommerce sales, off-set by softness in sales from the Fitness channel (down 23% from the prior year) affected by the health crisis and the related adverse impact to the macro-economic environment
• International revenue increased 172% to $10.0 million, from $3.7 million in the year ago quarter
• Nordic revenues increased by 182% to $9.5 million due to consolidation of results from the acquisition of our Nordic partner in October of 2019
• Revenues from other International markets totaled $420,000 which included royalty revenues from China of $192,000 and $228,000 from all other international markets (e.g., Malaysia, Hong Kong, Australia, Caribbean, etc.)
• Gross profit of $17.5 million, up 103% from $8.6 million in the year ago quarter
• Gross profit margins total 47.6% (53.7% excluding outbound freight) of revenues
• Net Profit to common stockholders of approximately $4.8 million compared to $960,000 in the year ago quarter
• Non-GAAP Adjusted EBITDA* excluding one-time charges totaled a profit of approximately $6.9 million compared to $2.6 million in the year ago quarter

2020 Year-to-Date Highlights:

• Revenue of $95.1 million, up 86.3% from $51.0 million in the 2019 period
• North American revenue increased 57.4% to $67.1 million, up from $42.6 million in the 2019 period
• Driven by continued strong double-digit growth in traditional channels of trade and expansion with world class retail and distribution partners as well as a 141% growth in ecommerce sales, off-set by softness in sales from the Fitness channel (down 17% from the prior year) affected by the health crisis and the related adverse impact to the macro-economic environment
• International revenue increased 232% to $28.0 million, from $8.4 million in the 2019 period
• Nordic revenues increased by 251% to $26.8 million due to consolidation of revenues from the acquisition of our Nordic partner in October of 2019
• Revenues from other International markets totaled $1.2 million which included royalty revenues from China of $569,000 and $609,000 from all other international markets (e.g., Malaysia, Hong Kong, Australia, Caribbean, etc.)
• Gross profit of $43.6 million, up 105% from $21.2 million in the 2019 period
• Gross profit margins total 45.8% (52.6% excluding outbound freight) of revenues
• Net Profit to common stockholders of approximately $6.9 million compared to a net income to common stockholders of $11.1 million in the 2019 period, inclusive of a $12.1 million net gain recognized for the establishment of a note receivable related to the business model change in China in 2019
• Non-GAAP Adjusted EBITDA* excluding one-time charges totaled a profit of approximately $12.2 million compared to $3.4 million in the 2019 period

*     The Company reports financial results in accordance with accounting principles generally accepted in the United States (“GAAP”), but believes that disclosure of adjusted EBITDA, a non-GAAP financial measure, may provide additional insights into operating performance.

Other Highlights:

• Trend forward functional energy brand has gained momentum as CELSIUS® is growing faster than the category:
• Reported 44% growth, year to date (Last 52 Weeks Ending 10.04.2020, SHELF STABLE FUNCTIONAL BEVERAGE, SPINSscan Conventional Markets: TOTAL US – CONVENIENCE)
• Reported 63% growth, year to date (Last 52 Weeks Ending 10.04.2020, SHELF STABLE FUNCTIONAL BEVERAGE, SPINSscan Conventional Markets: Total U.S. -– MULO+Convenience+Natural Channels)
• CELSIUS® distribution in the United States exceeds 79,000 retail locations nationally
• Secured additional distribution agreements with partners in the Anheuser-Busch InBev, PepsiCo, Keurig Dr. Pepper and MillerCoors networks, further expanding availability to new regions as Celsius builds out its national distribution network which now includes over 147 regional direct store delivery (DSD) partners
• Transitioned Target & 7-Eleven over from wholesale to Big Geyser in NYC and sales volumes have more than doubled. Additional 1,200 Target stores were transitioned to DSD through September and October of 2020 with additional planned regions to transition to DSD through 2020 as well as select CVS regions
• Issuance of common stock pursuant to private placement.  On August 25, 2020 the Company issued 1,437,909 shares of its common stock and obtained approximately $22,000,000 of cash as part of a private placement.

Subsequent to Quarter End:

• Exclusive launch of Kiwi-Guava-Lime flavored, On-The-Go Powdered Sticks at 2,750 Walmart locations. In addition, the company expanded their Stevia line through Kroger at 1,100 locations nationwide
• On October 30, 2020, the Company remitted approximately $10 million as payment in-full of the bonds that were issued in connection with the October 2019 acquisition of Func Food. As a result, our Balance Sheet is now debt free.

“During the third quarter, Celsius continued to position the company for outpaced revenue growth through the build out of our national DSD distribution platform, new national retail accounts and first mover marketing initiatives.  Despite the material closure of locations in both our vending and health and fitness channels, which cumulatively represented approximately 23% of North American revenue in our 2019 third quarter, North American revenue growth accelerated 27%, from the 47% revenue growth recognized in the third quarter of 2019, to over 60% in the current quarter,” said John Fieldly, President and Chief Executive Officer.

“Operationally, third-quarter results were an all-time record for the company, including record revenue both in North America and in the Nordics, gross profit, gross margins, operating income and cash flow from operations.  Moving through the fourth quarter and into 2021, the company expects a continuation of the accelerated DSD transition with our retail partners, further expansion into the underpenetrated convenience channel and new innovative flavors across expanded geographic markets.”

Third Quarter Ended September 30, 2020 Compared to Third Quarter Ended September 30, 2019

Revenue

For the three months ended September 30, 2020, revenue was approximately $36.8 million, an increase of $16.4 million or 80.4% from $20.4 million for the same quarter of 2019. The revenue increase of 80.4% was attributable to continued strong growth of 60.4% in North American revenues, reflecting double digit growth from existing accounts, new distribution and expanded distribution to major retailers. European revenue for the three months ended September 30, 2020 was $9.5 million, an increase of 182.3% from 2019 quarter revenue of $3.4 million. The 2020 results now reflect the full financial impact of consolidation of the results of operations of Func Food Group, Oyj (“Func Food”), our European distribution partner whom we acquired in October 2019. Asian revenues (which primarily consist of royalty revenues from our China licensee) for the three months ended September 30, 2020 amounted to $274,532 an increase of 40.8% from $194,982 in the 2019 quarter. Other international markets generated $145,415 of revenue during the third quarter of 2020, an increase of $57,015 when compared to $88,400 for the same quarter in the prior year. The total increase in revenue from the 2019 quarter to the 2020 quarter was primarily attributable to increases in sales volume, as opposed to increases in product pricing.

The following table sets forth the amount of revenues by segment and changes therein for the three months ended September 30, 2020 and 2019:

Gross profit

For the three months ended September 30, 2020, gross profit increased by approximately $8.9 million or 103.4% to $17.5 million, from $8.6 million for the same quarter in 2019. Gross profit margins for the three months ended September 30, 2020, were 47.6%, which compared favorably to 42.2% for the same quarter in 2019. The increase in gross profit is mainly related to increase in sales volume from the 2019 quarter to the 2020 quarter, as opposed to increases in product pricing.

Sales and marketing expenses

Sales and marketing expenses for the three months ended September 30, 2020 were approximately $8.3 million, an increase of approximately $3.3 million or 67.9% from approximately $4.9 million in the 2019 quarter. This increase reflects the impact of the consolidation of the operating results of Func Food following its October 2019 acquisition by the Company, which resulted in an increase in our marketing investments of 88.3% or $1.7 million from the 2019 quarter to the 2020 quarter. Similarly, all other sales and marketing expenses give effect to increases related to the consolidation of Func Food’s operations. Specifically, employee costs, which also includes investments in human resources to properly service our markets, increased to $2.3 million or 70.9% from the 2019 quarter to the 2020 quarter. Moreover, due to the increase in business volume from the 2019 quarter to the 2020 quarter, our support to distributors and investments in trade activities, our storage and distribution costs increased by $705,000 from the 2019 quarter to the 2020 quarter.

General and administrative expenses

General and administrative expenses for the three months ended September 30, 2020 were approximately $4.6 million, an increase of approximately $2.4 million or 107.7%, from $2.2 million for the three months ended September 30, 2019. This increase similarly reflects the impact of the consolidation of Func Food’s operations which were not present in the results for the 2019 quarter. As such, administrative expenses for the three months ended September 30, 2020 were $1.3 million, an increase of $865,700 or 181.9% from $475,797 for the prior year’s quarter. Employee costs for the three months ended September 30, 2020, reflected an increase of $360,307 or 63.0%, not only attributable to the consolidation of Func Food’s operations, but also reflecting additional investments in resources in order to properly support our higher business volume. All other increases for general and administrative expenses from the 2019 quarter to the 2020 quarter were approximately $1.1 million. These increases mostly resulted from higher stock option expense of $1.2 million and, additional depreciation and amortization of $15,000 which were partially offset by net decreases in all other administrative expense of $121,744.

Other income/(expense)

Total net other income for the three months ended on September 30, 2020 was $45,300, which compares favorably to other expenses of $543,000 for the same period in the prior year. The 2020 quarter results reflect a total favorable impact of $588,300 which includes $155,000 of lower amortization expenses, $143,000 gain related to foreign currency fluctuations, $407,600 gain on note receivable from China and net other miscellaneous expenses of $62,800 which were partially offset by higher net interest expenses of $54,500.

Net Income/(Loss)

As a result of the above, for the three months ended September 30, 2020, net income was $4.8 million or $0.07 per share based on a weighted average of 70,473,351 shares outstanding and dilutive earnings per share of $0.06 based on a fully-dilutive weighted average of 74,848,239 shares outstanding, which includes the dilutive impact of outstanding stock options to purchase 4,374,888 shares. In comparison, for the three months ended September 30, 2019, the Company had net income of approximately $961,042 or a $0.02 per share, based on a weighted average of 59,307,404 shares outstanding and a dilutive earnings per share of $0.03 based on a fully-dilutive weighted average of 62,532,510 shares outstanding.

Nine months ended September 30, 2020 Compared to Nine Months Ended September 30, 2019

Revenue

For the nine months ended September 30, 2020, revenue was approximately $95.1 million, an increase of $44.1 million or 86.3% from $51.0 million for the same period in 2019. The revenue increase of was attributable in large part to continued strong growth of 57.4% in North American revenues, reflecting double digit growth in both existing accounts, new distribution and expanded distribution to major retailers. European revenue was $26.8 million for the nine-months ended September 30, 2020, an increase of 251.0%, from to $7.6 million in revenue for the 2019 period. The 2020 results now reflect the full financial impact of the consolidation of the results of operations of Func Food. Asian revenues (which primarily consist of royalty revenues from our China licensee) for the nine months ended September 30, 2020 were $868,915 an increase of 38.1% from $629,028 for the 2019 period. Other international markets generated $308,706 of revenue during the nine months ended September 30, 2020 an increase of $149,586 from $159,120 for the same period in 2019. The total increase in revenue from the 2019 period to the 2020 period was primarily attributable to increases in sales volume, as opposed to increases in product pricing.

The following table sets forth the amount of revenues by category and changes therein for the nine months ended September 30, 2020 and 2019: 

Gross profit

For the nine months ended September 30, 2020, gross profit increased by approximately $22.3 million or 105.3% to $43.5 million, from $21.2 million for the same period in 2019. Gross profit margins increased to 45.8% for the nine months ended September 30, 2020 from 41.6% for the same period in 2019. The increase in gross profit dollars and gross profit margins is mainly related to increases in volume, as opposed to increases in product pricing.

Sales and marketing expenses

Sales and marketing expenses for the nine months ended September 30, 2020 were approximately $23.6 million, an increase of approximately $9.5 million or 67.8% from approximately $14.1 million for the same period in 2019. This increase reflects the impact of the consolidation of the operating results of Func Food following its October 2019 acquisition by the Company. As a result, our marketing investments increased by 77.4% or $4.2 million from the 2019 period to the 2020 period. Similarly, all other sales and marketing expenses give effect to increases related to the consolidation of Func Food’s operations. Specifically, employee costs for the 2020 period, which also includes investments in human resources to properly service our markets, increased by $3.6 million or 87.9% from the 2019 period. Moreover, due to the increase in business volume, our support to distributors, investments in trade activities and storage and distribution costs increased by $1.7 million from the 2019 period to the 2020 period.

General and administrative expenses

General and administrative expenses for the nine months ended September 30, 2020 were approximately $12.5 million, an increase of $5.3 million or 71.9%, from $7.2 million for the nine months ended September 30, 2019. This increase similarly reflects the impact of the consolidation of Func Food’s operations which were not present in the results for the 2019 period. As such, administrative expenses reflected an increase of $2.6 million, which included an increase of $221,000 in our bad debt reserve, to cover potential collectability risks associated with the COVID-19 pandemic. Employee costs for the nine months ended September 30, 2020, reflect an increase of $1.1 million or 58.9%, not only attributable to the consolidation of Func Food’s operations, but also additional investments in resources in order to properly support our higher business volume. All other increases for general and administrative expenses from the 2019 period to the 2020 period were $1.4 million. These increases mostly resulted from higher stock option expense of $1.3 million, depreciation and amortization of $34,000 and net increases in all other administrative expenses of $59,000.

Other Income/(expense)

Total net other expense for the nine months ended on September 30, 2020 was $590,000, which reflects a variance of $11.9 million when compared to net total other income of $11.3 million for the same period in the prior year. The variance of $11.9 million is mainly related to the recognition of a gain of $12.1 million pertaining to a note receivable from our Chinese licensee. The note receivable is the part of an agreement executed with our China distributor, related to the restructuring of our business relationship to a royalty-based model, which requires the repayment, over a five-year period, pursuant to an unsecured, interest-bearing note, of the investment the Company made in the China market during 2017 and 2018.

Net Income

As a result of all of the above, for the nine months ended September 30, 2020, the Company had a net income of $6.9 million or $0.10 per share based on a weighted average of 70,184,071 shares outstanding and $0.09 per share based on a weighted average of 73,524,209 shares outstanding, which includes the dilutive impact of outstanding stock options to purchase 3,340,138 shares. In comparison, for the nine months ended September 30, 2019 there was net income of $11.1 million or $0.19 per share based on a weighted average of 58,023,685 shares outstanding, and after adding back interest expense on convertible notes of $348,493 and the amortization on discount on notes payable of $707,286, a diluted net income of $12.2 million or $0.20 per share based on a weighted average of 62,050,032 shares outstanding, which includes the dilutive impact of the stock options of 1,223,700 shares and the dilutive effect of the convertible notes of 2,802,647 shares.

Liquidity and Capital Resources

As of September 30, 2020, and December 31, 2019, we had cash of approximately $52.2 million and $23.1 million, respectively, and working capital of approximately $62.2 million and $24.8 million, respectively. Cash provided in operations during the nine months ended September 30, 2020 was approximately $3.8 million and cash used in operations was approximately $966,000 for the nine-month period ended September 30, 2019, mainly reflecting investments in inventory, pre-payments and deposits and increase in accounts receivable.

Conference Call

Management will host a conference call today, Thursday, November 12, 2020 at 10:00 a.m. ET to discuss the results with the investment community.

To participate in the conference call, please call one of the following telephone numbers at least 10 minutes before the start of the call:

Participant Dial-In Numbers:

Toll Free: 877-709-8150
Toll/International: 201-689-8354

The conference may also be accessed by going to: https://hd.choruscall.com/InComm/?callme=true&passcode=13668240&h=true&info=company&r=true&B=6 for the live audio webcast of the call, which will subsequently be available for replay.

Disclosures can be found on the Company’s online disclosure portal at: https://www.celsiusholdingsinc.com/sec-filings/.

About Celsius Holdings, Inc.

Celsius Holdings, Inc. (Nasdaq: CELH), is a global company with a proprietary, clinically proven formula for its master brand CELSIUS® and all its sub-brands. A lifestyle fitness drink and a pioneer in the rapidly growing performance energy sector, CELSIUS® has five beverage lines that each offer proprietary, functional, healthy-energy formulas clinically-proven to offer significant health benefits to its users. The five lines include, CELSIUS® Originals, CELSIUS HEAT™, CELSIUS® BCAA +Energy,  CELSIUS® On-the-Go, and CELSIUS® Sweetened with Stevia. CELSIUS® has zero sugar, no preservatives, no aspartame, no high fructose corn syrup, and is non-GMO, with no artificial flavors or colors. The CELSIUS® line of products is Certified Kosher and Vegan. CELSIUS® is also soy and gluten-free and contains very little sodium. CELSIUS® is backed by six university studies that were published in peer-reviewed journals validating the unique benefits CELSIUS® provides. CELSIUS® is sold nationally at Target, CVS, Walmart, GNC, Vitamin Shoppe, 7-Eleven, Dick’s Sporting Goods, The Fresh Market, Sprouts and other key regional retailers such as HEB, Publix, Winn-Dixie, Harris Teeter, Shaw’s and Food Lion. It is also available on Amazon, at fitness clubs and in select micro-markets across the country. For more information, please visit http://www.celsiusholdingsinc.com.

Forward-Looking Statements
 
This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Celsius Holdings’ future results of operations and/or financial position, or state other forward-looking information. In some cases, you can identify these statements by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” “would,” or similar words. You should not rely on forward-looking statements since Celsius Holdings’ actual results may differ materially from those indicated by forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: general economic and business conditions; our business strategy for expanding our presence in our industry; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations affecting our business; and other risks and uncertainties discussed in the reports Celsius Holdings has filed previously with the Securities and Exchange Commission. Celsius Holdings does not intend to and undertakes no duty to update the information contained in this press release.

— Tables Follow —

 

 

 

 

 

 

 

*The Company reports financial results in accordance with accounting principles generally accepted in the United States (“GAAP”), but believe that disclosure of adjusted EBITDA, a non-GAAP financial measure, may provide users with additional insights into operating performance.

Investor Relations:
Cameron Donahue
(651) 653-1854
[email protected]

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SOURCE Celsius Holdings, Inc.

MELROSE PARK, Ill., Nov. 12, 2020 /PRNewswire/ — Greenhouse Group will open a 5,040 square foot dispensary located at 1413 W North Ave, Melrose Park, IL 60160, with pre-order available on November 11th and doors to open on November 12th, 2020. A ribbon cutting ceremony in partnership with the Melrose Park Chamber of Commerce is scheduled for 9:00 a.m. on opening day.

“We are thrilled to extend our presence in Illinois with this Melrose Park location, connecting the community to safe and effective cannabis products through our unparalleled expertise,” says Mitch Kahn, CEO. “At Greenhouse, we are committed to educating each community we serve on the benefits of cannabis. In addition to providing high-quality and innovative products, we are proud to provide an in-dispensary experience that is inclusive and welcoming to people from all walks of life.”

Located on a main thoroughfare across from Winston Plaza Mall, Greenhouse has a home-grown, welcoming vibe that promotes inclusivity, inviting customers to experience the space as their new home for adult-use cannabis in Illinois.

The open-plan space was deliberately configured to offer a premium, curated customer experience, with a large focus on educational displays throughout the space. The interior will include a consultation zone dedicated to in-depth consultations with trained product specialists, and will have six point of sale stations with social distancing parameters put in place.

The Melrose Park location has filled 33 new jobs, with a focus on inclusive hiring that will drive equitable, diverse growth opportunities within the cannabis industry.

Hours of operation for Greenhouse Melrose Park are Monday-Saturday 9:00 a.m.- 8:00 p.m. and Sunday 10:00 a.m.- 6:00 p.m. Available products will include flower, vapes, extracts/oils, topicals, concentrates, and edibles.

Curaleaf Holdings, Inc. closed on its acquisition of Grassroots on July 23. In connection with that acquisition, Greenhouse Melrose Park will come under the Curaleaf umbrella and branding pending final regulatory approval.

For more information on Greenhouse, visit the company‘s website.

High res imagery available HERE

For press inquiries: [email protected]

About Greenhouse Group
The Greenhouse Group is committed to building lasting change in their native state of Illinois, serving both medical and recreational customers. It‘s where passionate product specialists know and serve people from all walks of life, connecting communities to safe, hand-selected, locally-grown products and services. Founded in 2014, Greenhouse operates seven locations: Deerfield, Litchfield, Mokena, Morris, Northbrook, Skokie and their newest addition in Melrose Park, IL. Greenhouse is rooted in raising the standards within cannabis and within the communities they serve. Greenhouse is your home for cannabis. For more information, visit https://www.greenhouseil.com.

About Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”) is a leading U.S. provider of consumer products in cannabis, with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a vertically integrated, high-growth cannabis operator known for quality, expertise and reliability, the company and its brands, including Curaleaf and Select provide industry-leading service, product selection and accessibility across the medical and adult-use markets. Curaleaf currently operates in 23 states with 95 dispensaries, 23 cultivation sites and over 30 processing sites, and employs over 3,000 team members across the United States. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information please visit www.curaleaf.com. 

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SOURCE Greenhouse

TINTON FALLS, N.J., Nov. 12, 2020 /PRNewswire/ — Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced that CRN^®, a brand of The Channel Company, has presented the company with a 2020 CRN Tech Innovator Award. Commvault was recognized for its new Commvault HyperScale X solution, which claimed top honors in the Data Management category, as well as its Metallic Backup & Recovery solution, which was named a finalist in the Cloud Data Protection/Disaster Recovery category.

This annual award program honors innovative vendors in the IT channel across 49 technology categories, in key areas ranging from cloud to security to storage to networking. CRN editors assessed hundreds of vendor products along multiple criteria, including uniqueness, key capabilities, technological competency, and addressing customer needs.

HyperScale X, the latest generation of Commvault’s integrated scale-out data management solutions, utilizes software-defined storage technology from Hedvig, which Commvault acquired in 2019. HyperScale X features major functionality improvements over previous versions of HyperScale, delivering companies an intuitive and easy to deploy scale-out appliance with unmatched scalability, security, and resiliency.

“CRN’s Tech Innovator Awards celebrate technology vendors that empower end users and promote business growth for solution providers with pioneering, purpose-built solutions,” said Blaine Raddon, CEO of The Channel Company. “Congratulations to each of this year’s CRN Tech Innovator Award winners! We are honored to recognize these best-in-class vendors that are powering IT transformation and innovation.”

“We are thrilled for HyperScale X to be named a leading data management solution by CRN,” said Mercer Rowe, Vice President, Global Partner Organization, Commvault. “With this solution, our partners gain a powerful tool to support customers’ needs to accelerate their digital transformation journey. Hyperscale X is an intuitive, easy to deploy appliance that offers customers unmatched scalability, security and resiliency as they move to hybrid cloud, container, and virtualized environments. Delivering a modern architecture, including software-defined storage technology, artificial intelligence and machine learning, HyperScale X allows customers to get up and running quickly and grow as their needs demand, all while keeping their data secure and available.”

“Commvault HyperScale X is the scale-out data protection appliance our customers need, especially as their data resides in a lot of places and requires protection, which can be hard in rapidly growing organizations with evolving IT demands,” said Murray Granger, EVP of Sales at Veristor Systems Inc. “HyperScale X easily solves that problem, offering optimized scalability to grow on-premises and in the cloud, along with trusted security and resiliency, including built-in ransomware protection. Ransomware is and continues to be a huge threat to all companies, and the fact that it’s top of mind for Commvault’s portfolio is a key part of why our customers love Commvault. HyperScale X is a compelling offering in a crowded market, and we’re excited to be a Commvault partner.”

The Tech Innovator Awards will be featured in the December issue of CRN and can be viewed online at crn.com/techinnovators.

About Commvault
Commvault is a worldwide leader in delivering data readiness, enabling customers to intelligently manage data with solutions that store, protect, optimize and use data. Commvault software automates mind-numbing IT tasks and makes data work harder for customers— so they can gain invaluable insights for their businesses. Commvault solutions work across cloud and on-premises environments, leveraging the digital tools and procedures already in use. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. Visit Commvault.com or follow us at @Commvault.

About Metallic™
Metallic™, A Commvault venture, was established to bring next-generation software-as-a-service (SaaS) data protection to the market, delivering Commvault’s powerful core technology simply through the cloud. Together with its partners, Metallic offers a growing portfolio of SaaS backup and recovery solutions to help today’s companies keep their data protected, compliant and safe from deletion, corruption and attack. Metallic operates as a division of Commvault and can be found at http://www.metallic.io.

About The Channel Company
The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education, and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers and end users. Backed by more than 30 years of unequalled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace. 
thechannelcompany.com 

Safe Harbor Statement: Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.

©1999-2020 Commvault Systems, Inc. All rights reserved. Commvault, Commvault and logo, the “C hexagon” logo, Commvault Systems, Commvault HyperScale, ScaleProtect, Commvault OnePass, Unified Data Management, Quick Recovery, QR, CommNet, GridStor, Vault Tracker, InnerVault, Quick Snap, QSnap, IntelliSnap, Recovery Director, CommServe, CommCell, APSS, Commvault Edge, Commvault GO, Commvault Advantage, Commvault Complete, Commvault Activate, Commvault Orchestrate, Commvault Command Center, Hedvig, Universal Data Plane, the “Cube” logo, Metallic, the “M Wave” logo, and CommValue are trademarks or registered trademarks of Commvault Systems, Inc. All other third party brands, products, service names, trademarks, or registered service marks are the property of and used to identify the products or services of their respective owners. All specifications are subject to change without notice.

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SOURCE Commvault

SAN FRANCISCO, Nov. 12, 2020 /PRNewswire/ — Loop Commerce, a leading provider of Gift Experience Management (GXM) solutions, today released new research on corporate gift giving. The research found that 54% of companies plan to increase their investment in corporate gift giving over the next two years amid a transformation in workplace dynamics. Companies are committed to more gift giving and value ease-of-use and quality gifting but continue to resort to less imaginative gifts that can leave recipients cold.

The research, commissioned by Loop Commerce, found several other challenges to traditional corporate gifting by departments such as human resources, marketing, event management, sales and customer service. Corporate gifters are finding it difficult to make gifts more meaningful than things like gift cards. Also, at times, many recipients, including employees, customers and clients, may be unenthusiastic about the experience of receiving a gift via email is unenthusiastic for many recipients, including employees, customers and clients.

Knowing the difficulties with receiving a personalized gift from employers, nearly 70% of employees say they prefer gift cards while 55% seek a gift of travel or experiences over merchandise. If employees are unable to receive a personalized gift aligned to their interests, they desire the freedom to choose how they want to utilize a gift and its associated cash value.

“The reality is both companies and employees want the same things – quality, personalized gifting that is easy to use. Companies want to spend more and select useful gifts aligned to employee interests, but when needing to do it at scale, they’re opting for the most convenient option that employees still want – gift cards,” said Jennifer Muller, Chief Marketing Officer, Loop Commerce, a Synchrony solution. “If companies are already spending $50–$150 per gift and intend to increase their investment in gift giving, gift experience management technology can more easily eliminate the guesswork and provide quality, personalized gift experiences regardless of quantity.”

According to the research, three out of four companies are currently curating corporate gifts and offering multiple gift options for employees without any assistance from solution providers. This approach has not produced ideal outcomes. One out of every five corporate gift givers (21%) have received complaints from employees about their gifts. During the holidays, over half of employees (53%) receiving gifts have found it has been a hit or miss every year.

Shipping continues to be a significant factor influencing companies’ gifting decision making, and forty-four percent of companies who seek a quick fix for large gift giving are turning to online retailers. Most of these e-commerce sites are not designed for gifting at scale, forcing the corporate gifter to deal with cumbersome and repetitive processes.

Additionally, the increase in online shopping is already stressing shipping companies as orders pile up due to the pandemic. And, consumers accustomed to free next-day receipt of their purchases, are now finding that “next day” may mean “next week” as shipments are delayed. As the holidays approach this is likely to get worse. Corporate gift givers can use a gift experience management solution to digitally purchase and send personalized gifts via personalized email or texts in minutes and provide the recipient the flexibility to choose their preferred size, color and shipping address before the gift ships. 

Research Methodology: Synchrony and Loop Commerce partnered with market research and strategy firm Chadwick Martin Bailey who surveyed approximately 300 B2B decision makers in roles such as Customer Service, Human Resources, Marketing, Procurement, and Sales. The company also surveyed 300 consumers across industries. Each cohort represents a mix of industries and company sizes. Both surveys were conducted between August 20 and September 8, 2020.

About Loop Commerce
GiftNow, from Loop Commerce, a Synchrony solution, is a holistic Gift Experience Management (GXM) solution that takes the friction out of gifting. With GiftNow’s purpose-built GXM platform, gifters can send personalized digital gifts and gift cards in seconds and recipients can exchange or modify their items before they ship, benefiting gift givers, recipients, corporate gifting programs, and retailers. GiftNow is used by premium specialty and department retailers across the United States.

For more information, please visit: www.giftnow.com.

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company. We deliver a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. Synchrony enables our partners to grow sales and loyalty with consumers. We are one of the largest issuers of private label credit cards in the United States; we also offer co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, and healthcare providers.

Synchrony is changing what’s possible through our digital capabilities, deep industry expertise, actionable data insights, frictionless customer experience and customized financing solutions.

For more information, visit synchrony.com and Twitter: @synchrony.

Media Contact:
Kevin Payne
[email protected]

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SOURCE Synchrony

SHANGHAI, Nov. 12, 2020 /PRNewswire/ — Boqii Holding Limited (“Boqii” or the “Company”) (NYSE: BQ), a leading pet-focused platform in China, today announced that the Company generated RMB244.5 million ( ~ US37.0 million) in gross merchandise volume (GMV) ^[1]during 11-day sales campaign from November 1 to 11.

Mr. Hao Liang, Boqii’s Founder, Chairman and Chief Executive Officer commented: “The strong results in this year’s shopping festival demonstrate the growing demand and increasing brand awareness for Boqii itself. As China’s leading pet-focused platform, Boqii has been dedicating itself to improving life quality for pets and pet owners, by providing premium, safe and reliable products. We are committed to continuously optimizing our platform and bringing more high-quality pet products to better serve our users and brand owners.” 

2020 Singles Day Global Shopping Festival Highlights (From November 1 to November 11)^[2]

• Total GMV of RMB244.5 million (~US$37.0 million), representing an increase of 39.97% compared to the same period in 2019.
• Over 336 brands participating in the festival.
• Added 101 new popular brands compared to last year, including Natural Balance, Nutrience and Halo.
• 104 brands surpassed sales from last year’s festival, with 62 brands doubling their sales compared to sales recorded from last year’s festival, including Nutram Number, Wanpy, GO!, IRIS and Bayer Advocate.

About Boqii Holding Limited

Boqii Holding Limited (NYSE: BQ) is China’s leading pet-focused platform. We are the leading destination for pet products and supplies in China with our broad selection of high-quality products including global leading brands, local emerging brands, and our own private labels, offered at competitive prices. Our online sales platforms, including Boqii Mall and our flagship stores on third-party e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized shopping experience. Our Boqii Community also provides an informative and interactive content platform for users to share their knowledge and love for pets.

Exchange Rate

This press release contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.6070 to US$1.00, the central parity rate announced by the People’s Bank of China on November 11, 2019.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding such risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: [email protected]

The Blueshirt Group
Ms. Susie Wang
Email: [email protected]

In the United States:

The Blueshirt Group
Ms. Julia Qian
Email: [email protected]

 

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SOURCE Boqii Holding Limited

NEW YORK, Nov. 12, 2020 /PRNewswire/ — InvestorsObserver issues critical PriceWatch Alerts for MRNA, ACCO, TOPS, JD, and XPEV.

To see how InvestorsObserver’s proprietary scoring system rates these stocks, view the InvestorsObserver’s PriceWatch Alert by selecting the corresponding link.

• MRNA: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=MRNA&prnumber=111220201 
• ACCO: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=ACCO&prnumber=111220201 
• TOPS: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=TOPS&prnumber=111220201 
• JD: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=JD&prnumber=111220201 
• XPEV: https://www.investorsobserver.com/lp/pr-stocks-lp-2/?stocksymbol=XPEV&prnumber=111220201 

(Note: You may have to copy this link into your browser then press the [ENTER] key.)

InvestorsObserver’s PriceWatch Alerts are based on our proprietary scoring methodology. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. Each of those scores is then combined into an overall score that determines a stock’s overall suitability for investment.

 

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SOURCE InvestorsObserver

SAN RAFAEL, Calif., Nov. 12, 2020 /PRNewswire/ — BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced that management will participate in three upcoming virtual conferences.  An audio webcast of the presentations will be available live. You can access the webcast at: https://investors.biomarin.com/. An archived version of the remarks will also be available through the Company’s website for a limited time following the conference.

About BioMarin

BioMarin is a global biotechnology company that develops and commercializes innovative therapies for people with serious and life-threatening rare disorders. The company’s portfolio consists of six commercialized products and multiple clinical and pre-clinical product candidates. 

For additional information, please visit www.biomarin.com. Information on BioMarin’s website is not incorporated by reference into this press release.

 

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SOURCE BioMarin Pharmaceutical Inc.

SOUTH SAN FRANCISCO, Calif., Nov. 12, 2020 /PRNewswire/ — VistaGen Therapeutics (NASDAQ: VTGN), a biopharmaceutical company developing new generation medicines for anxiety, depression and other central nervous system (CNS) disorders, today announced new in vitro electrophysiology data demonstrating that the mechanism of action of PH94B, the intranasal neuroactive steroid the Company is preparing for Phase 3 development as a potential acute rapid-onset treatment of anxiety in adults with social anxiety disorder, does not involve direct activation of GABA-A receptors, in distinct contrast to the mechanism of action of benzodiazepines (“benzos”), which act as direct positive modulators of GABA-A receptors.

“We are very pleased with the results of these studies that suggest PH94B’s mechanism of action may not have benzodiazepine-like side effects, such as sedation and cognitive impairment, or abuse liability,” stated Shawn K. Singh, Chief Executive Officer of VistaGen. “While benzodiazepines provide relief for many Americans struggling with anxiety, their extremely risky safety profile does not lend itself to long term use. The mechanism of action contributes to the safety profile. As we have seen in Phase 2 clinical studies, while PH94B is able to produce rapid-onset benzo-like, anti-anxiety effects, this study demonstrates that PH94B does not have a benzo-like mechanism of action. As we approach Phase 3 development of PH94B, especially given the FDA’s recent public announcement about safety concerns associated with benzo use, these new data make us even more excited about PH94B’s potential to change lives without the risky side effects and safety concerns of benzos.”

Recently, the U.S. Food and Drug Administration (FDA) released a Drug Safety Communication (DSC) detailing the risks associated with use of benzodiazepines, a class of drugs commonly prescribed for treatment of anxiety disorders and other conditions. According to the FDA communication, 92 million benzodiazepine prescriptions were filled in 2019. The FDA’s DSC detailed safety concerns regarding the serious risks of abuse, addiction, physical dependence, and withdrawal reactions linked to long-term use of benzodiazepines, and the FDA announced that it is requiring an updated Boxed Warning, the FDA’s most prominent type of safety warning, for all benzodiazepine medications.

“We thought it was important to conduct a study to help differentiate the mechanism of action of PH94B from that of benzodiazepines, therefore, we contracted with EuroFins Discovery to determine whether PH94B has positive modulatory effects on GABA receptors using in vitro patch clamp electrophysiology,” noted Mark A. Smith, M.D., Ph.D., Chief Medical Officer of VistaGen. “Benzodiazepines such as alprazolam and diazepam mediate their anti-anxiety effects by acting as positive modulators at GABA receptors to make them more responsive to GABA and thereby increase inhibitory neuronal activity in the brain. PH94B had no agonist or antagonist effects on GABA receptors. While PH94B may regulate endogenous GABA circuits in the brain, it does not appear to directly bind to or modulate GABA receptors at concentrations <10mM, which differentiates its mechanism of action from benzodiazepines.”

These studies are significant because they indicate that PH94B has no relevant benzodiazepine-like activity. With widespread anxiety-provoking stressors related to the COVID-19 pandemic, civil unrest, election results, the economy, and distance learning during 2020, the number of individuals facing anxiety disorders is rising and a safer treatment alternative to benzodiazepines is imperative. PH94B may have the potential to displace benzodiazepines and become the safer alternative in the drug treatment paradigm for anxiety disorders.

About PH94B
PH94B is an innovative odorless synthetic neuroactive steroid nasal spray with therapeutic potential in a wide range of mental health disorders involving anxiety or phobia. Self-administered in microgram-level doses, PH94B produces rapid onset (within approximately 15 minutes) anti-anxiety effects and does not require systemic uptake and distribution to generate these effects.

VistaGen is currently preparing PH94B for pivotal Phase 3 development as a potential acute treatment of anxiety in adults with Social Anxiety Disorder (SAD).  The FDA has granted Fast Track designation for development of PH94B for this indication, believed to be the first such designation by the FDA for a drug candidate for SAD.

With its rapid-onset pharmacology, lack of systemic exposure and sedation, and its excellent safety profile in all studies to date, we believe PH94B has potential to provide a safe alternative to benzodiazepines and other pharmacological alternatives in the drug treatment paradigm for anxiety disorders. View more background information on SAD and a video on PH94B’s mechanism of action.

About VistaGen
VistaGen Therapeutics is a clinical-stage biopharmaceutical company developing and commercializing differentiated new generation medicines that go beyond the current standard of care for anxiety, depression and other CNS disorders. Each of VistaGen’s three drug candidates has a differentiated mechanism of action, an exceptional safety profile in all studies to date, and therapeutic potential in multiple CNS markets. For more information, please visit www.vistagen.com and connect with VistaGen on Twitter, LinkedIn and Facebook.

Forward Looking Statements

Various statements in this release are “forward-looking statements” concerning VistaGen’s future expectations, plans and prospects, including the potential for successful Phase 3 development of PH94B. These forward-looking statements are neither promises nor guarantees of future performance, and are subject to a variety of risks and uncertainties which could cause actual results to differ materially from those contemplated in these forward-looking statements, including the risks that: development and approval of PH94B may not be achieved in any market; the FDA may decide that the results of the Company’s PH94B Phase 3 clinical program are not sufficient for regulatory approval for acute treatment of anxiety in adult patients with SAD or any other anxiety-related disorder; development of PH94B may not be successful in any indication; success in nonclinical studies or in earlier-stage clinical trials may not be repeated or observed in future studies which may not support further development or be sufficient to gain regulatory approval to market PH94B; adverse events may be encountered at any stage of development that negatively impact further development. Other risks and uncertainties include, but are not limited to, issues related to: adverse healthcare reforms and changes of laws and regulations; general industry and market conditions; manufacturing and marketing risks, which may include, but are not limited to, unavailability of or delays in delivery of raw materials for manufacture of PH94B; inadequate and/or untimely supply of PH94B to meet demand; entry of competitive products; and other technical and unexpected hurdles in the development, manufacture and commercialization of PH94B, as well as those risks more fully discussed in the section entitled “Risk Factors” in VistaGen’s most recent Annual Report on Form 10-K for the year ended March 31, 2020, as well as discussions of potential risks, uncertainties, and other important factors in either company’s other filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

 

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SOURCE VistaGen Therapeutics

CLEVELAND, Nov. 12, 2020 /PRNewswire/ — KeyCorp (NYSE: KEY) will announce fourth quarter 2020 earnings on Thursday, January 21, 2021, before the market opens. A conference call will be held at 10:00 a.m. ET to review financial results, strategy and outlook.

The live audio webcast of the conference call and presentation materials will be available at www.key.com/ir.  If you are unable to join the live conference call, or wish to hear a re-broadcast, access www.key.com/ir and select Quarterly Earnings Results.

KeyCorp’s roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $170.5 billion at September 30, 2020. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of over 1,000 branches and approximately 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com. KeyBank is Member FDIC.

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SOURCE KeyCorp

HOLMDEL, N.J., Nov. 12, 2020 /PRNewswire/ — Vonage (Nasdaq: VG), a global leader in cloud communications helping businesses accelerate their digital transformation, has announced a strategic reseller partnership of Vonage Contact Center with Evolutio, a leading provider of cloud-based services across Spain. 

This agreement reinforces Evolutio’s position as a leading independent cloud-based service provider in the region. Partnering with Vonage enables Evolutio to seamlessly sell, deploy, and implement contact centers that meet today’s critical need for organisations of all sizes to ensure business continuity across functions, and to seamlessly enable agents to work from anywhere – in an office, at home, or even mobile.

“Evolutio is pleased to announce this partnership with Vonage,” said Jacinto Cavestany, CEO at Evolutio. “Adding the award-winning Vonage Contact Center into our portfolio will help our customers to accelerate their digital transformation by providing enormous flexibility and ensuring business continuity. We are sure our knowledge, reach and assets throughout Spain and the surrounding markets are the perfect match for making it all possible.”

The partnership with Vonage will allow Evolutio to continue selling, implementing and servicing all of its current and future customers by offering them the Vonage Contact Center deeply integrated into Salesforce CRM and ServiceNow CSM solutions. This provides businesses with the ability to innovate the way they engage with their customers in real time, anywhere in the world, through their preferred channels.

“It is critical for organizations of all sizes to ensure business continuity, seamlessly enable remote delivery of services, and provide differentiated customer experiences,” said Rodolpho Cardenuto, President, Vonage Applications Group. “The ability to enable this kind of connection and innovation is the value Vonage brings, and we’re excited to partner with Evolutio to offer the Vonage Contact Center to businesses throughout Spain and make it easy for businesses to build the personalised, integrated, immediate and intuitive communication experiences that today’s customers expect.”

Vonage Contact Center integrates all communications channels without expensive, disruptive hardware changes and plugs straight into a business’s CRM platform, allowing agents to benefit from immediate access to a caller’s history of interactions, minimize wait times and improve the caller experience. As a flexible, scalable cloud solution, agents can log into the Vonage Contact Center wherever they are, effectively boosting the organization’s response to any increase in demand, while Vonage’s real-time dashboards provide a wealth of real-time and historical data.

To find out more about Vonage, visit www.vonage.com. To find out more about Evolutio, visit www.evolutio.com.

About Evolutio
Evolutio is an expert enabler of cloud services. The company works for some of the most relevant global and local organisations of the Spanish market. Its goal is to foster the agility, flexibility and innovation capacity of its customers, helping them to optimise their business value and making their digital transformation possible. The company is headquartered in Madrid, Spain, and its assets include: more than 5,600 km of deployed networks, 3 data centers and more than 6,200 virtual machines, 270 security certifications, 1,000 highly qualified experts and over 30 years of experience in the field. For more information, visit evolutio.com

About Vonage



Vonage
, (Nasdaq:VG) a global cloud communications leader, helps businesses accelerate their digital transformation. Vonage’s Communications Platform is fully programmable and allows for the integration of Video, Voice, Chat, Messaging and Verification into existing products, workflows and systems. Vonage’s fully programmable unified communications and contact center applications are built from the Vonage platform and enable companies to transform how they communicate and operate from the office or anywhere, providing enormous flexibility and ensuring business continuity.

Vonage Holdings Corp. is headquartered in New Jersey, with offices throughout the United States, Europe, Israel, Australia and Asia. To follow Vonage on Twitter, please visit www.twitter.com/vonage. To become a fan on Facebook, go to facebook.com/vonage. To subscribe on YouTube, visit youtube.com/vonage.

 

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SOURCE Vonage