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TAMPA, Fla. — A federal judge said Monday that he is not inclined to give prison time in the case against members of the St. Petersburg-based Uhuru Movement, who were convicted in September of conspiring to act as Russian agents. In a sentencing hearing Monday for Augustus C. Romain Jr., a former member of the Black activist group and one of the four convicted defendants, U.S. District Judge William Jung said their conduct ultimately amounted to the exercise of free speech. “Everything they did here was political speech,” Jung said. “I eminently disagree with all of it. These people spit on this flag that actually protects them.” The judge sentenced Romain, 38, to five years’ probation, declining the five-year prison sentence prosecutors had sought. He said he believed there had already been enough punishment in the case. The prosecutors did not comment on the judge’s sentence, but looks of disappointment crossed their faces as Jung explained his reasoning. Assistant U.S. Attorney Daniel Marcet emphasized that the defendants wanted to hurt America. “They went into this with their eyes wide open, knowing that the purpose was to help the Russian government harm the United States,” Marcet said. The judge, though, noted that despite their rhetoric, nothing the defendants did harmed anyone. “No one went and burned down the draft office,” he said. “No one was injured. No one was damaged.” Jung nevertheless commended the prosecution team for their skill in handling a difficult case. He said he believed the trial produced a fair result. At the same time, the judge said the law requires wide breadth be given to political speech “or it gets chilled.” “We have to go a long way to make sure we’re not punishing you for saying repulsive words,” he told Romain. Romain, who has been jailed for more than a year, showed no outward reaction to the decision. He will be able to walk free, though he faces unrelated criminal charges in Georgia, where he now lives. The government will be able to appeal the sentence. The three other defendants convicted in the case are scheduled for a separate sentencing hearing next week. They include Omali Yeshitela, the longtime leader of the Uhuru Movement and its umbrella organization, the African People’s Socialist Party, and Penny Hess and Jesse Nevel, leaders of the group’s white allies. The group has been a presence in St. Petersburg for decades. They’ve taken broad and radical stances, advocating for things like the release of all Black prisoners and the creation of a single Black socialist government. But they’ve also focused on local issues, pressing city officials on things like the construction of Tropicana Field in a predominantly Black area and demanding retribution after the 1996 police killing of TyRon Lewis. The four were convicted in a September trial on charges of conspiracy to act as agents of the Russian government without notifying the attorney general. A jury delivered not-guilty verdicts for the more serious charge of acting as Russian agents. The government accused the group of acting for seven years on behalf of the Russian government to spread propaganda and sow political discord in the U.S. Evidence showed the group communicated regularly with a Russian man, Aleksandr Ionov, who runs an organization called the Anti-Globalization Movement of Russia. Ionov, in turn, regularly reported on his activities to Russian intelligence agents. With funding from the Russian government, Ionov worked to develop relationships with American activists and separatist groups to exploit and enflame U.S. political divisions. The Uhurus became part of those efforts. The government presented evidence showing that Yeshitela and others worked at Ionov’s direction, organizing protests and featuring pro-Russian messaging and propaganda in their newspaper, The Burning Spear. Romain, who goes by the name Gazi Kodzo, left the Uhurus in 2018. He then started his own group in Atlanta, dubbed the Black Hammer, which continued to communicate with Ionov. As leader of the Black Hammer, Romain organized multiple demonstrations, including one outside Facebook’s California headquarters and another outside CNN’s headquarters in Atlanta. The demonstrations featured Russian flags and rhetoric parroting Russian and anti-American propaganda. Prosecutors said Romain recruited homeless people to participate in his demonstrations, which tended to be short-lived. At sentencing, the judge noted their ineffectiveness. “This was not the revolutionary army marching down the street,” he said. “This was four guys with a bullhorn and a puppy dog wrangling up people and protesting. It wasn’t quite the long march of Chairman Mao.” He added that though the Uhurus and their allies make statements condemning the U.S., “they would never find a country that’s any better.” “That’s what makes us so great,” he said. “You can say this stuff.” In a memo filed ahead of Romain’s sentencing, Marcet highlighted some of the more startling aspects of the defendants’ conduct. In particular, he noted that in 2015, the Russians offered to create a website for Yeshitela’s group to operate that would feature the pictures, names and addresses of police officers, judges and other public figures, to encourage harassment against them. Yehsitela “enthusiastically informed” the rest of the group about the proposal, Marcet wrote. Romain suggested the website be called “Pigs in Our Hood.” Despite the discussion, it appeared the Russian government never followed through on creating the website. Aside from the free speech issues, the judge voiced concern that the defendants did not know of the legal requirement that they were to register with the attorney general as foreign agents. In a written order denying a defense request to throw out the guilty verdicts, Jung wondered how they could conspire to violate a law of which they were not even aware. Still, he urged Romain to change his ways. He called him a “smart guy” with potential for a successful career. “You don’t have to do this,” he said. “You don’t have to keep getting in trouble.” He ordered Romain, as a condition of probation, to have no contact with anyone in any foreign government. “Please don’t think for a minute that anyone agrees with the substance of what you did,” the judge said. -------- ©2024 Tampa Bay Times. Visit at tampabay.com . Distributed by Tribune Content Agency, LLC.This is CNBC's live blog covering European markets. European markets are expected to open in negative territory Tuesday, retreating from yesterday's mostly positive trading session , as traders gear up for the latest U.S. inflation report this week. > 24/7 San Diego news stream: Watch NBC 7 free wherever you are The U.K.'s FTSE 100 index is expected to open 38 points lower at 8,315, Germany's DAX down 76 points at 20,274, France's CAC down 31 points at 7,454 and Italy's FTSE MIB down 139 points at 34,429, according to data from IG. There are no major earnings releases in Europe Tuesday. Data releases include final German inflation data for November. Traders are looking ahead to U.S. inflation data due Wednesday. The consumer price index data will likely influence how the Federal Reserve proceeds on interest rates at its Dec. 17-18 meeting. Economists polled by Dow Jones forecast that headline inflation rose 0.3% in November and 2.7% over the prior 12 months. U.S. stock futures hovered near the flatline on Monday evening, after both the S&P 500 and Nasdaq Composite pulled back from record highs in yesterday's trading session. Overnight in the Asia-Pacific region, China stocks rose Tuesday amid broader gains among other regional markets. Money Report Travel is finally back — and an era of huge growth is upon us Luigi Mangione charged with murder of UnitedHealthcare CEO Brian Thompson, court record shows — CNBC's Brian Evans contributed to this market summary CNBC Pro: Deutsche Bank names its UK “top pick” stocks with compounding growth potential — and one has more than 50% upside Deutsche Bank has named seven London-listed companies in the business services sector as its top investment picks for 2025, highlighting shares with strong growth potential and defensive characteristics in an uncertain market environment. One of the stocks has the potential to rise by more than 50% over the next 12 months, the bank said. CNBC Pro subscribers can read more here. — Ganesh Rao European markets: Here are the opening calls European markets are expected to open in negative territory Tuesday. The U.K.'s FTSE 100 index is expected to open 38 points lower at 8,315, Germany's DAX down 76 points at 20,274, France's CAC down 31 points at 7,454 and Italy's FTSE MIB down 139 points at 34,429, according to data from IG. There are no major earnings releases in Europe Tuesday. Data releases include final German inflation data for November. — Holly Ellyatt Also on CNBC Stocks making the biggest moves after hours: Oracle, C3.ai and more Stock futures are little changed after S&P 500, Nasdaq Composite retreat from records Why investing in midcaps may be the way to go in 2025
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DETROIT — Another home of a University of Michigan leader was vandalized, including the spray-painting of a vehicle with a pro-Palestinian slogan, a regent said Monday. UM Regent Jordan Acker said his Huntington Woods home and vehicle were both vandalized early Monday. Someone threw a mason jar through one of his home's windows and spray-painted the words "Divest and Free Palestine" on an SUV, said Acker, who is Jewish. "My first thought when I heard the glass breaking is that one of my daughters had gone downstairs to get something to drink and dropped it," he said. "It was very loud and it sounded like dishes breaking. "It was only about 30 seconds later when the police arrived that I came down and realized what had happened." Acker said he later found out a neighbor called the police after seeing a couple of people running away from the house. Authorities found fragments of a glass jar inside the house along with a foul-smelling liquid as well as a second jar outside of the home, he said. Acker called the upside-down red triangle the vandals also painted on the vehicle along with the graffiti particularly disturbing and upsetting. He considers the incident a threat against his family. "That symbol has been used by Hamas to mean something is a legitimate military target," the regent said. "This is a threat. This was not a protest. This is terrorism." The incident comes about six months after vandals targeted Acker's Southfield law office. They spray-painted the words "Free Palestine" and "Divest Now" on the building. The law firm said the attack was being investigated as a hate crime. Acker said the incident at his office remains under investigation and no arrests have been made. Officials for the University of Michigan issued a statement Monday on X calling the vandalism of Acker's house "a clear act of anti-Semitic intimidation." "The University of Michigan condemns these criminal acts in the strongest possible terms," the school said. "They are abhorrent, and unfortunately, just the latest in a number of incidents where individuals have been harassed because of their work on behalf of the university. This is unacceptable and will not be tolerated. We call on our community to come together in solidarity and to firmly reject all forms of bigotry and violence." The university has been embroiled in debate and protests about Hamas' attack on Israel on Oct. 7, 2023 and Israel's counterattack, prompting a war that continues to this day. University events have been disrupted by demonstrators, an encampment was built on campus for a month before being dismantled by police, and regents and other university leaders have been targeted with protests and vandalism. The incident comes about two months after graffiti was spray-painted on the homes of UM President Santa Ono and Erik Lundberg, UM's chief investment officer. The vandalism was done on the first anniversary of the Oct. 7 attack on Israel by the militant group Hamas, which runs Gaza. It also followed months of demonstrations and disruptions by UM students and their supporters, who demand the university divest from its portfolio any holdings linked to Israel since the country's counter-attack on Hamas in Gaza — which has killed more than 44,000 Palestinians in Gaza, according to the Hamas-run Palestinian Health Ministry. The messages at Ono's home were spray-painted in red on his house and sidewalk. They included "Coward," "Divest now," along with upside-down triangles and "intifada," an Arabic word meaning uprising or resistance. Similar words were spray painted at Lundberg's home, including "complicit" and "intifada." Officials decry vandalism Mark Bernstein, vice chair of the university's Board of Regents, decried the vandalism in a statement to The Detroit News. Bernstein, who is president and managing partner of the Sam Bernstein Law Firm PLLC, was first elected to the Board of Regents in 2012 and re-elected in 2020. “The repeated targeting of my colleague, a Jewish elected official, and his family, is conduct that demands condemnation and aggressive criminal prosecution," he said. "This act reveals the dangerous antisemitism at the core of this radical movement that has adopted terrorist symbols in their repugnant rhetoric." Others also condemned the attack on Monday. U.S. Rep. and U.S. Senator-elect Elissa Slotkin, D-Holly, categorized the act as criminal. "This makes three attacks on University of Michigan Regent Jordan Acker’s home and office in just over six months," she said in a statement. "This is targeted hate meant to intimidate and threaten him and his family, and law enforcement has a responsibility to move quickly to connect the dots and do something about it. This is not activism or free speech on behalf of a cause — indeed this criminal activity undercuts the very cause they purport to care about." U.S. Rep. Haley Stevens, D-Birmingham, called the incident sickening. "Jordan Acker is a dedicated public servant and he and his family should be safe in their own home," she said in a post on X. "I am sickened by the anti-Semitic attack on his home last night. Vandalism, violence, and bigotry have no place in America. Enough. Our Jewish brothers and sisters deserve to live in security and peace." Also on X, former U.S. Rep. Peter Meijer, R-Grand Rapids Township, decried what he called "another disgusting antisemitic attack" on Acker. "Political leaders in Michigan must take this vile behavior seriously — vandalism and harassment is reprehensible enough, but left unchecked threatens to escalate into physical violence," he wrote. Acker details what happened Acker, an attorney who has been on the board since 2019, also posted about the incident on his Instagram page on Monday. "In the very early hours of this morning, while my wife, my three young daughters and I were asleep in our beds, we were awakened by the sound of two heavy thrown through the front window of our house," he said in his post. "While my eldest daughter ran into our room, frightened by the sound of breaking glass, I ran downstairs, saw the broken window, and then ran outside to find my wife’s car had been graffitied by anti-Semitic vandals." He added in the post: "This is the third time that I — and now my family — have been the target of these Klan-like tactics. We all need to call out this cowardly act attacking my family and my home for what it truly is — terrorism. And like we always do in this great nation when we’re confronted with terrorism — I will not let fear win. All this does is harden my resolve to continue to do the right thing for the University and the Michigan voters who elected me." He concluded the post with: "I call upon members of the Michigan community to publicly repudiate this vile anti-Semitic intimidation and to offer full support to law enforcement to root out these bigots so they see the consequences for their actions." Acker said he won't disclose what safety measures he will take to protect his family and himself following Monday's incident. "These messages, whether they're left at my office or my home, are intended to intimidate a Jewish elected official," he said. "But I am not going to be intimidated by them." Acker said he calls on every elected official in Michigan, whether they're on the political right or the left, to publicly condemn this sort of behavior. "It's not enough to condemn privately," he said. "We have to say publicly this is not acceptable no matter where you stand on the issue of Israel and Palestine. He said he would like to see the U.S. Attorney's Office in Detroit and the FBI become involved in the investigation into the attack. "It's pretty obvious this is a civil rights violation and I wish the U.S. Attorney's Office would take it seriously," Acker said. The regent also urges people on UM's campus who know who the vandals are and where they are to come forward to stop incidents like this from happening again. In mid-May, pro-Palestinian protesters delivered a list of demands to the homes of the eight regents. They also "decorated" the front lawn of then UM Board of Regents Chair Sarah Hubbard's home with "scenes of genocide in Palestine" along with a taped list of demands for divestment from Israel on the door of her home. At the time, Acker wrote on X that "around 4:40 a.m., a masked intruder came to the door of my family's home with a list of demands, including defunding the police." "My three daughters were asleep in their beds, and thankfully unaware of what transpired," Acker wrote. "This form of protest is not peaceful. Public officials should not be subject to this sort of intimidating conduct, and this behavior is unacceptable from any Michigan community member, especially one led by someone who called for the death of people they disagree with." -------- ©2024 www.detroitnews.com . Visit at detroitnews.com . Distributed by Tribune Content Agency, LLC.CARLSBAD, Calif.--(BUSINESS WIRE)--Nov 21, 2024-- Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced the first closing of its previously announced registered direct offering for the purchase and sale of up to an aggregate of 39,473,688 of Lineage’s common shares and accompanying warrants (the “common warrants”) to purchase an aggregate of up to 39,473,688 of Lineage’s common shares at a combined purchase price of $0.76 per common share and accompanying common warrant. Lineage issued an aggregate of 31,578,951 common shares and common warrants to purchase up to 31,578,951 common shares to certain healthcare focused institutional investors in the first closing. Each common warrant will be exercisable for one common share at an exercise price of $0.91 per common share and will be exercisable commencing six months following their date of issuance and will expire on the earlier of (a) the three-year anniversary of the initial exercise date, and (b) the 90th day following the date of the public disclosure of the intent to advance OpRegen ® (also known as RG6501) into a multi-center phase 2 or 3 clinical trial which includes a control or comparator arm, or if the date of such public disclosure occurs prior to the initial exercise date of the common warrants, the 90th day following the initial exercise date. H.C. Wainwright & Co. served as the exclusive placement agent for the offering. The offering of the securities to Broadwood Partners, L.P. (“Broadwood”), an affiliate of Neal Bradsher, a member of Lineage’s board of directors, is expected to close upon obtaining shareholder approval to satisfy applicable NYSE American rules and to the satisfaction of customary closing conditions. The common warrants that may be issued to Broadwood pursuant to the definitive purchase agreement entered into between Lineage and Broadwood will not be exercisable until the later of (i) their date of issuance, which will be the date shareholder approval is obtained, and (ii) the six-month anniversary of the date of issuance of the common warrants to the unaffiliated institutional investors in the offering. Lineage received $24 million in aggregate gross proceeds in the first closing of the offering, which was with respect to the investments by the unaffiliated institutional investors, and expects to receive approximately $6 million in additional gross proceeds from the offering with respect to the investment by Broadwood, in each case, before deducting the placement agent’s fees and other offering expenses payable by Lineage. The potential additional gross proceeds to Lineage from the common warrants, if fully exercised on a cash basis, will be approximately $36 million. No assurance can be given that Lineage will obtain the shareholder approval required to satisfy applicable NYSE American rules in order to sell the securities in the offering to Broadwood or that any of the common warrants will be exercised. Lineage currently plans to use the net proceeds from the offering for working capital and general corporate purposes, including research and development expenses and capital expenditures. The securities described above were offered and sold by Lineage in a registered direct offering pursuant to a “shelf” registration statement on Form S-3 (File No. 333-277758) filed with the Securities and Exchange Commission (the “SEC”) on March 7, 2024, and which was declared effective by the SEC on May 14, 2024. The offering of the securities in the registered direct offering was made only by means of a base prospectus and a prospectus supplement that forms a part of the effective registration statement. A final prospectus supplement and the accompanying base prospectus relating to the offering were filed with the SEC and are available on the SEC’s website at www.sec.gov . Electronic copies of the final prospectus supplement and the accompanying base prospectus may also be obtained from H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com . This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Lineage Cell Therapeutics, Inc. Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel, “off-the-shelf,” cell therapies to address unmet medical needs. Lineage’s programs are based on its proprietary cell-based technology platform and associated development and manufacturing capabilities. From this platform, Lineage designs, develops, manufactures, and tests specialized human cells with anatomical and physiological functions similar or identical to cells found naturally in the human body. These cells are created by applying directed differentiation protocols to established, well-characterized, and self-renewing pluripotent cell lines. These protocols generate cells with characteristics associated with specific and desired developmental lineages. Cells derived from such lineages are transplanted into patients in an effort to replace or support cells that are absent or dysfunctional due to degenerative disease, aging, or traumatic injury, and to restore or augment the patient’s functional activity. Lineage’s neuroscience focused pipeline currently includes: (i) OpRegen, a retinal pigment epithelial cell therapy in Phase 2a development under a worldwide collaboration with Roche and Genentech, a member of the Roche Group, for the treatment of geographic atrophy secondary to age-related macular degeneration; (ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a development for the treatment of spinal cord injuries; (iii) ReSonanceTM (ANP1), an auditory neuronal progenitor cell therapy for the potential treatment of auditory neuropathy; (iv) PNC1, a photoreceptor neural cell therapy for the potential treatment of vision loss due to photoreceptor dysfunction or damage; and (v) RND1, a novel hypoimmune induced pluripotent stem cell line being developed in collaboration with Factor Bioscience Limited. For more information, please visit www.lineagecell.com or follow the company on X/Twitter @LineageCell . Forward-Looking Statements Lineage cautions you that all statements, other than statements of historical fact, in this press release, are forward-looking statements. Forward-looking statements, in some cases, can be identified by terms such as “believe,” “aim,” “may,” “will,” “estimate,” “continue,” “anticipate,” “design,” “intend,” “expect,” “could,” “can,” “plan,” “potential,” “predict,” “seek,” “should,” “would,” “contemplate,” “project,” “target,” “tend to,” or the negative version of these words and similar expressions. Lineage’s forward-looking statements are based upon its current expectations and beliefs and involve assumptions that may never materialize or may prove to be incorrect. Such statements include, but are not limited to, statements relating to the closing of the offering of the securities to Broadwood, the total potential amount and use of proceeds from the offering, the exercise of the common warrants in cash prior to their expiration and the exercise of the common warrants upon the achievements of such milestone events or otherwise prior to their expiration. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the risks that the offering may not close due to the failure to satisfy the applicable closing conditions, including, with respect to the offering of securities to Broadwood, obtaining shareholder approval to satisfy applicable NYSE American rules, and that the common warrants may not be exercised or, if exercised, the exercise price may not be paid in cash, and those risks and uncertainties inherent in Lineage’s business and other risks discussed in Lineage’s filings with the SEC. Further information regarding these and other risks is included under the heading “Risk Factors” in Lineage’s periodic reports with the SEC, including Lineage’s most recent Annual Report on Form 10-K filed with the SEC and its other subsequent reports, which are available from the SEC’s website. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Lineage undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. View source version on businesswire.com : https://www.businesswire.com/news/home/20241121738269/en/ CONTACT: Lineage Cell Therapeutics, Inc. IR Ioana C. Hone (ir@lineagecell.com) (442) 287-8963Russo Partners – Media Relations Nic Johnson or David Schull (Nic.johnson@russopartnersllc.com) (David.schull@russopartnersllc.com) (212) 845-4242 KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: HEALTH NEUROLOGY GENETICS CLINICAL TRIALS PHARMACEUTICAL BIOTECHNOLOGY SOURCE: Lineage Cell Therapeutics, Inc. Copyright Business Wire 2024. PUB: 11/21/2024 05:00 PM/DISC: 11/21/2024 05:02 PM http://www.businesswire.com/news/home/20241121738269/en
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No. 2 Auburn not taking Monmouth lightly'Jimmy who?' The US president 1970s America really neededCHICAGO — If the life and times of Chicago Alderman Daniel Solis a decade ago were pitched as the plot of a daytime soap opera, it might be rejected as too fantastical. Sexual trysts at massage parlors, procuring erectile dysfunction pills from friends, an affair with his Chinese translator, a bag of cash handed over at a hotel in Beijing, a breakup with his wife, and near financial ruin — all playing out over a period of several years when Solis was chair of the City Council’s powerful Zoning Committee. Solis’ complicated back story began to emerge Monday in the corruption trial of former House Speaker Michael Madigan, where Solis, who agreed to become an FBI mole in 2016 after being confronted with some of the salacious details, is the prosecution’s key witness. So far, Solis has walked the jury through many of the allegations contained in a bombshell FBI search warrant affidavit that was inadvertently made public in 2019, including Solis’ involvement with a number of Chicago political power players. Among them: Solis’ sister, Democratic political consultant Patti Solis Doyle, who he said offered to split a $100,000 payment with him from the developer of the Nobu Hotel, who needed Solis’ help with zoning, according to Solis’ testimony. “She said she could split it with me,” Solis said. “I told her I couldn’t do it. It would be illegal.” Solis testified he also received $200,000 for referring his sister to another friend, Brian Hynes, who wanted her on board with his company Vendor Assistance Program, which made tens of millions of dollars buying up unpaid bills from the state and then collecting the late fees. Solis also testified about other friends, such as Juan Gaytan, the influential head of Monterrey Security, showering him with perks like flights and hotels in Las Vegas and tickets to Bulls and Bears games that Solis never declared on any ethics reports. “I made a mistake,” Solis said when asked why he accepted the favors. “I thought they were my friends and I was wrong.” Solis, 71, the former 25th Ward alderman, took the witness stand late last week to begin what will be a fascinating dive into one of the biggest public corruption cases in Chicago’s sordid history. His testimony — which could stretch well into December — will include clandestine video recordings Solis made in face-to-face meetings with Madigan, where the longtime House leader and head of the state Democratic Party allegedly used his official influence to shake down developers for business for his private tax appeal law firm. When a prosecution witness has a checkered past like Solis, prosecutors frequently ask about the alleged wrongdoing early in their testimony. “Fronting” the information strategically aims to take the sting out of it, rather than let defense attorneys seize on it during cross-examination. But rarely does a witness come with quite so much baggage. Solis testified that Roberto Caldero, a college buddy of his who became a lobbyist and consultant, would call Solis for help when his clients had problems with the city’s red tape. At the same time, Caldero connected Solis with free tabs of Viagra and – to the obvious amusement of at least one juror – erotic massages. “Why didn’t you just get a prescription?” Assistant U.S. Attorney Diane MacArthur asked. “It was more convenient and quicker than contacting my doctor,” Solis said. “Why was it, do you think, Mr. Caldero was willing to do those things for you?” MacArthur asked. “He wanted to influence me in his requests,” Solis said. The back-scratching continued, he said: Solis got a loan from a bank that needed help with expressway signage; his son’s graduation party was hosted and paid for by developer Fred Latsko; he got a six-figure off-the-books loan from a businessman who wanted Solis’s help connecting him with Emanuel. But the most dramatic revelations came from Solis’s testimony about his time in China. Solis visited China and Taiwan multiple times from 2005 to 2013, mostly in his capacity as a public official, to understand the 2008 Olympic Games’ effect on Beijing when Chicago was considering its Olympic bid, for example, or to learn about Chinese culture in order to better support Chinatown, Solis said. Shortly after a trip in 2009, Solis – who was married – began an affair with his translator, Bing Tie. He said Tie introduced him to developer Lumeng Li, who was interested in projects in Chinatown. Tie and Solis accompanied Li on a tour of his properties in different Chinese cities. At one point, he was in a Shanghai hotel room with Tie and Li. On the bed, Solis saw a briefcase full of Chinese cash, he said. It was $10,000, Solis said based on what Tie told him. “I think (Li) was giving it to me to influence me in the work he was trying to do in the States,” Solis testified. Tie took the suitcase off the bed and used the money to buy furniture for the condo Solis was renting from her, he testified. “She gave me her receipts for everything,” he said. Solis’s marriage began to fall apart in 2010 after his wife learned of his affair, Solis testified. They were separated for a few years, during which time Solis paid his wife’s rent and his son’s private school tuition as well as his own expenses, Solis testified. The house he and his wife shared had been foreclosed on, putting his credit in the gutter, he said. By 2013 he was getting calls from bill collectors, one of whom he lied to and said he was out of a job, he testified. “I was exasperated,” he said. “I think I was about to go into a meeting.” Madigan, 82, of Chicago, who served for decades as speaker of the Illinois House before stepping down in 2021, faces racketeering charges alleging he ran his state and political operations like a criminal enterprise. He is charged alongside Michael McClain, 77, a former ComEd contract lobbyist from downstate Quincy, who for years was one of Madigan’s closest confidants. Both men have pleaded not guilty and denied wrongdoing. Solis’ testimony is the culmination of a saga that began nearly eight and a half years ago, when FBI agents confronted him at his home in June 2016 and showed him evidence they’d gathered of his own misdeeds. The feds had been prepared that day to raid Solis’ City Hall offices. Instead, he flipped, offering what prosecutors have described as “singular” cooperation that helped bring down not only Madigan, but another Chicago political giant in former Alderman Edward M. Burke. Lawyers for Madigan and McClain, meanwhile, will have plenty of ammunition to bring to what is expected to be a lengthy and grueling cross-examination. Unlike in last year’s trial of Burke, in which Solis was called as a defense witness, he’ll be subjected to a much broader line of questioning this time around, with the defense probing not only Solis’ unprecedented deferred-prosecution deal, but also episodes from the FBI’s investigation into his own misdeeds that could prove personally embarrassing. In his opening statement to the jury last month, Madigan attorney Tom Breen painted Solis as a “BS-er” with “a decrepit personal and professional life,” someone who lied to cut a sweetheart deal with the feds that not only will keep him out of prison, but also help him maintain a fat city pension. Earlier Monday, jurors got their first look at a secretly recorded video of the then-powerful House speaker soliciting business for his law firm from the developer of a Chinatown hotel project. “We’re not looking for a quick killing here,” Madigan said near the end of the August 2014 meeting, which was recorded on a hidden camera by developer See Wong, who was cooperating with the FBI. “We’re interested in a long term relationship.” Before the video was played, Solis testified he’d arranged the meeting at Madigan’s request. At the time, Solis was not cooperating. In fact, the meeting took place nearly two years before the FBI confronted him with evidence of his own wrongdoing, leading to Solis’ decision to go undercover himself. The charges against Madigan do not allege anything illegal occurred during the 2014 meeting. But a state-owned parcel of land discussed by Madigan and the developers would later become a key focus of prosecutors, who allege Madigan used it as a way to squeeze the developer for business. In the video, which was taken more than a decade ago, a much younger looking Madigan came into the office carrying a bottle of water and shook Wong’s hand. Also in the room was Vincent “Bud” Getzendanner, Madigan’s law partner. The developer, Kin Chong, who spoke only Chinese, was mainly off screen. Madigan’s face appeared intermittently as he made small talk about Chicago’s Chinatown and how it compared to others on the West Coast. After a few minutes, Solis came in with two assistants and some coffees. They then got down to brass tacks, with Madigan explaining his firm and what they do. “We do quite a few hotels and, uh, we have a little different approach to representation on hotels than the other law firms that do the work,” Madigan said. “And, and Bud can explain background, but it does make a difference in terms of the results that you get from the assessor.” After Madigan’s partner gave a lengthy spiel about the firm’s approach to reducing property taxes, talk turned to a the Chinatown parking lot along the Red Line on Wentworth Avenue. Solis told the jury he was not expecting the parking lot to come up. In the recording, Solis jumped in and explained that the parking lot was part of a corridor of land once owned by Tony Rezko — the longtime influence peddler who was convicted of corruption as part of Operation Board Games, the federal investigation that took down Gov. Rod Blagojevich. “Oh yeah,” Madigan said when Solis brought up Rezko. After Wong spreads a map on the table, Madigan appeared to study it. “Is this owned by the state?” the speaker asked at one point. “The parking lot? Yes,” Solis said. “What, what about that vacant land?” Madigan asked. “This is east of the CTA. This is Clark Street.” The conversation then turned back to the hotel project, which was a proposed Best Western with about 60 rooms. After a lot of talk about how much Madigan’s firm might save them in taxes, Solis jumped in again. “There is no better firm than this firm in terms of doing real estate taxes in the state,” Solis said. “I think that’s not only my opinion, it’s across (the board).” After making his comment about a “quick killing,” Madigan also extolled the virtues of his firm. “And in terms of the quality of representation in terms of this law firm we don’t take a second seat to anybody,” he said. As the meeting broke up, Wong said the developer wanted to take a picture with the speaker. The video showed Madigan standing together with the others on the screen of Wong’s cell phone as he took the photo. After Madigan left, Wong and Solis walked to the elevators of the Madigan & Getzendanner offices on North LaSalle Street. Wong told the alderman that Chong would “love to give the business to Mr. Speaker” but the zoning change was critical. “If he works with the speaker, he will get anything he needs for that hotel,” Solis said. “And he’s gonna benefit from being with the Speaker.” Before they parted, Solis told Wong, “I like your shoes.” After the video concluded, Solis testified that the zoning change requested by the developers passed his committee. But the Best Western ever never built, he said. ©2024 Chicago Tribune. Visit at chicagotribune.com . Distributed by Tribune Content Agency, LLC.
C3.ai Stock Rallies After Q2 Results, 'Seventh Consecutive Quarter Of Accelerating Revenue Growth'A probate court has ruled against in a petition to change the terms of his succession plan to ensure that his eldest son Lachlan remains in charge of his conservative media empire after his death, , citing a sealed document. A Nevada commissioner on Saturday found that Murdoch acted in “bad faith” in attempting to change the terms of the irrevocable family trust — the instrument through which he controls News Corp. and Fox, according to the report. As currently constructed, the trust gives equal voting shares to his four eldest children. Although Lachlan is currently chair of News Corp., he could be stripped of his title by his siblings, largely seen as more politically moderate and have banded together to oppose revisions to the trust. Edmund J. Gorman Jr. concluded that the legal maneuver initiated by Murdoch is a “carefully crafted charade” to cement Lachlan’s control. He ruled against Murdoch that maintaining Fox as a conservative political media force by ensuring that Lachlan’s brothers and sisters won’t be able to wrest control of the company from him and moderate its coverage is in the best interest of all of the media juggernaut’s beneficiaries. Lawyers for Murdoch and James, Elisabeth and Prudence didn’t immediately respond to requests for comment. Adam Streisand, representing Murdoch, told the that an appeal is planned. The case now moves to a district court, which will decide whether to accept a recommended resolution by the commissioner. More litigation could follow. A two-week saga in a Nevada court, which kept the proceedings and filings under seal, examined proposed changes to the trust. It was revealed that Lachlan initiated plans to change the trust when he began to suspect that James, who’s no longer with the company, was planning to oust him after their father’s death. He allegedly introduced the plan last year at a special meeting of the trust. “Today is about Dad’s wishes and confirming all of our support for him and for his wishes,” he wrote in a text message to Elisabeth the day of the meeting, reported the . “It shouldn’t be difficult or controversial. Love you, Lachlan.” To solidify Lachlan as his successor, Murdoch had to prove that the changes are being implemented in good faith, with the purpose of benefiting all of the trust’s members. James, who at one point was seen as the heir apparent to his father’s media empire but lost a power struggle to his brother, has taken aim at his family’s business. He stepped down from the News Corp. board in 2020 due to “disagreements over certain editorial content published by the company’s news outlets.” He could have been alluding to Fox’s coverage that the election was stolen, which has led to at least three against the board, plus a $787.5 million payout to Dominion Voting Systems. Voting technology company Smartmatic continues to pursue a $2.7 billion defamation lawsuit against the network. THR Newsletters Sign up for THR news straight to your inbox every day More from The Hollywood Reporter'My husband was told to call the family to prepare to say goodbye'
“The View” co-hosts got into another tense political discussion while disagreeing over the validity of President-elect Donald Trump’s new pick for attorney general during Friday’s episode. The co-hosts –– Joy Behar, Sara Haines, Ana Navarro, Sunny Hostin and Alyssa Farah Griffin –– were discussing Trump picking Pam Bondi after Matt Gaetz withdrew amid his controversial sexual misconduct allegations. While Haines, Navarro and Griffin were thankful for the change, Hostin argued that Bondi was just as “dangerous” as Gaetz. “I believe she’s a dangerous pick as well, because she supported Trump’s false election claims,” Hostin said, referring to Trump’s refusal to accept his 2020 presidential defeat . “She was involved in the effort to overturn the results, and so that is now the person that is going to be our chief law enforcer?” Behar, 82, and Navarro, 52, quickly interrupted, and Navarro defended Bondi’s record and joked, “What’s a little election denialism between friends? Everything in life is relative!” Hostin, 56, appeared stunned and quipped, “Election denialism is a very big deal, Ana.” “We got to take the wins where we can find them, folks,” Griffin, 35, chimed in, while also adding that Bondi is “also qualified” for the role. Navarro piped up again and asked if she was allowed to “continue saying” her opinion on Bondi being a better choice than Gaetz. “One at a time!” Behar said and clapped, while the rest of the four women continued to talk at the same time. Hostin got the floor next and reminded her co-hosts that they cannot “minimize some of the things” Bondi has done, when she is “supposed to be the people’s attorney.” Haines, 47, began talking before Hostin finished her thoughts and said, “Agree, but I would still take her over Matt Gaetz!” “You can take her over Matt Gaetz, but can’t minimize denying an election,” Hostin argued, to which Haines denied “minimizing” those claims. Griffin then the chance to speak and pointed out that Gaetz had “dreadful character flaws” while also being “deeply unqualified” –– unlike Bondi. “She’s been the Florida attorney general, she’s been a prosecutor, she is going to get confirmed by the senate [and] republicans really like her,” Griffin said. However, Hostin was still adamant to make her point and reiterated that Bondi is an “election denier.” “I know, but no one’s going to be perfect under Donald Trump,” Griffin replied. Behar –– who acted as the moderator with Whoopi Goldberg out –– once again urged the ladies to stop interrupting each other and shouted, “One at a time!” Navarro and Hostin continued to go back and forth for a few more seconds before Behar interjected one final time. The tense argument came just two days after Hostin and Griffin got into a heated debate over school voucher tax credits. Hostin and Griffin spoke over each other several times and made it hard to understand their points, so Goldberg, 69, jumped in and scholed them. “There’s no last thing being said here right now,” Goldberg said before cutting to commercial. “No one can hear what anyone’s saying.”Reports: Bill Belichick interviews for North Carolina job(CNN) — After recent burglaries at homes of professional athletes – including Kansas City Chiefs stars Patrick Mahomes and Travis Kelce – the NFL has issued a security bulletin to teams and the players union warning that “organized and skilled groups” are increasingly targeting players’ residences for such crimes. The memo, issued Wednesday and obtained by CNN, warns that players across multiple sports leagues are being targeted. Perpetrators “appear to exploit team schedules to target athletes’ homes on game days,” and appear to be using public records, social media, media reports and surveillance to gather information on their targets, it says. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.BELLEVUE, Wash.--(BUSINESS WIRE)--Dec 5, 2024-- Smartsheet Inc. (NYSE: SMAR), the AI enhanced enterprise grade work management platform, today announced financial results for its third fiscal quarter ended October 31, 2024. The section titled "Use of Non-GAAP Financial Measures" below contains a description of the non-GAAP financial measures with a reconciliation between GAAP and non-GAAP information. The section titled "Definitions of Key Business Metrics" contains definitions of certain non-financial metrics provided within this press release. In a separate press release issued on September 24, 2024, we announced that we have entered into a definitive agreement ("Merger Agreement"), to be acquired by Blackstone and Vista Equity Partners. A copy of the press release and supplemental materials can be found on the "Investors" page of our website at and on the Securities and Exchange Commission, or the SEC, website at . Additional details and information about the terms and conditions of the Merger Agreement and the transactions contemplated by the Merger Agreement are available in the Current Report on Form 8-K filed with the SEC on September 24, 2024. Given the announced transaction, we will not be hosting an earnings conference call nor providing financial guidance in conjunction with this press release. For further detail and discussion of our financial performance, please refer to our third quarter 2025 Form 10-Q for the quarter ended October 31, 2024, filed today with the SEC. To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, as described below, to understand and evaluate our core operating performance. These non-GAAP financial measures, which may be different than similarly titled measures used by other companies, are presented to enhance investors’ overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of the non-GAAP financial measures to such GAAP measures can be found in the accompanying financial statements included with this press release. We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects, and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We are presenting these non-GAAP financial metrics to assist investors in seeing our financial performance through the eyes of management, and because we believe that these measures provide an additional tool for investors to use in comparing our core financial performance over multiple periods with other companies in our industry. We define non-GAAP operating income as GAAP operating loss excluding share-based compensation expense, amortization of acquisition-related intangible assets, one-time costs associated with mergers and acquisitions, lease restructuring costs, and litigation expenses and settlements related to matters that are outside the ordinary course of our business, as applicable. We define non-GAAP net income as GAAP net income (loss) excluding non-recurring income tax adjustments associated with mergers and acquisitions and the same exclusions that are used to derive non-GAAP operating income. We define basic non-GAAP net income per share as non-GAAP net income divided by weighted-average shares outstanding ("WASO"). We define diluted non-GAAP net income per share as non-GAAP net income divided by diluted WASO. Diluted WASO includes the impact of potentially dilutive securities, which include stock options, restricted share units, performance share units, and shares subject to our 2018 employee stock purchase plan. There are a number of limitations related to the use of these non-GAAP measures as compared to GAAP operating loss and net income (loss), including that the non-GAAP measures exclude share-based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense in our business and an important part of our compensation strategy. We use the non-GAAP financial measure of free cash flow, which is defined as GAAP net cash flows from operating activities, reduced by cash used for purchases of property and equipment (inclusive of spend on internal-use software) and principal payments on finance lease obligations. We believe free cash flow is an important liquidity measure of the cash that is available, after capital expenditures and operational expenses, for investment in our business, share repurchases, and potential acquisitions. Free cash flow is useful to investors as a liquidity measure because it measures our ability to generate excess cash beyond what is required for our operations. Once our business needs and obligations are met, cash can be used to maintain a strong balance sheet and invest in future growth. There are a number of limitations related to the use of free cash flow as compared to net cash from operating activities, including that free cash flow includes capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made. We define annualized recurring revenue, or ARR, as the annualized recurring value of all active subscription contracts at the end of a reporting period. We exclude the value of non-recurring revenue streams, such as our professional services revenue, that are recognized at a point in time. We use ARR as one of our operating measures to assess the strength of the Company’s subscription services. ARR is a performance metric and should be viewed independently of revenue and deferred revenue, and is not intended to be a substitute for, or combined with, any of these items. Both multi-year contracts and contracts with terms less than one year are annualized by dividing the total committed contract value by the number of months in the subscription term and then multiplying by 12. Annualizing contracts with terms less than one year results in amounts being included in our ARR calculation that are in excess of the total contract value for those contracts at the end of the reporting period. The value of subscription contracts that are sold through third-party resellers, wherein we do not have visibility into the pricing provided, is based on the list price. We use average ARR per domain-based customer to measure customer commitment to our platform and sales force productivity. We define average ARR per domain-based customer as total outstanding ARR for domain-based subscriptions as of the end of the reporting period divided by the number of domain-based customers as of the same date. We define domain-based customers as organizations with a unique email domain name. We calculate dollar-based net retention rate as of a period end by starting with the ARR from the cohort of all customers as of the 12 months prior to such period end (“Prior Period ARR”). We then calculate the ARR from these same customers as of the current period end (“Current Period ARR”). Current Period ARR includes any upsells and is net of contraction or attrition over the trailing 12 months, but excludes subscription revenue from new customers in the current period. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the dollar-based net retention rate. Any ARR obtained through merger and acquisition transactions does not affect the dollar-based net retention rate until one year from the date on which the transaction closed. The dollar-based net retention rate is used by us to evaluate the long-term value of our customer relationships and is driven by our ability to retain and expand the subscription revenue generated from our existing customers. Smartsheet (NYSE: SMAR) is the modern enterprise work management platform trusted by millions of people at companies across the globe, including over 85% of the 2024 Fortune 500 companies. The category pioneer and market leader, Smartsheet delivers powerful solutions fueling performance and driving the next wave of innovation. Visit to learn more. Smartsheet announces material information to its investors using SEC filings, press releases, public conference calls, and on its investor relations page of the company’s website at . Subscription $ 273,703 $ 232,470 $ 786,328 $ 659,993 Professional services 13,168 13,448 39,939 41,396 Total revenue 286,871 245,918 826,267 701,389 Subscription 41,445 34,258 115,216 101,009 Professional services 12,291 12,780 36,693 38,948 Total cost of revenue 53,736 47,038 151,909 139,957 Gross profit 233,135 198,880 674,358 561,432 Research and development 63,477 58,257 189,514 172,805 Sales and marketing 127,854 137,920 383,315 382,685 General and administrative 45,155 38,153 124,489 109,654 Total operating expenses 236,486 234,330 697,318 665,144 Loss from operations (3,351 ) (35,450 ) (22,960 ) (103,712 ) Interest income 8,272 6,976 24,934 18,040 Other income (expense), net 47 (790 ) (593 ) (1,381 ) Income (loss) before income tax provision 4,968 (29,264 ) 1,381 (87,053 ) Income tax provision 3,644 3,164 1,057 8,602 Net income (loss) $ 1,324 $ (32,428 ) $ 324 $ (95,655 ) Net income (loss) per share, basic $ 0.01 $ (0.24 ) $ 0.00 $ (0.71 ) Net income (loss) per share, diluted $ 0.01 $ (0.24 ) $ 0.00 $ (0.71 ) Weighted-average shares outstanding used to compute net income (loss) per share, basic 139,007 135,189 138,287 133,868 Weighted-average shares outstanding used to compute net income (loss) per share, diluted 142,668 135,189 141,306 133,868 Share-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands, unaudited): Cost of subscription revenue $ 2,983 $ 3,164 $ 9,055 $ 9,980 Cost of professional services revenue 1,485 1,777 4,734 5,602 Research and development 17,763 17,220 54,036 52,263 Sales and marketing 14,453 17,462 45,472 55,505 General and administrative 9,151 10,024 29,827 30,099 Total share-based compensation expense $ 45,835 $ 49,647 $ 143,124 $ 153,449 Current assets: Cash and cash equivalents $ 454,281 $ 282,094 Short-term investments 306,640 346,701 Accounts receivable, net of allowances of $5,335 and $6,560, respectively 200,436 238,708 Prepaid expenses and other current assets 69,840 64,366 Total current assets 1,031,197 931,869 Restricted cash 18 19 Deferred commissions 156,724 148,867 Property and equipment, net 39,139 42,362 Operating lease right-of-use assets 29,693 39,480 Intangible assets, net 20,635 27,960 Goodwill 141,477 141,477 Other long-term assets 4,408 5,445 Total assets $ 1,423,291 $ 1,337,479 Current liabilities: Accounts payable $ 1,128 $ 2,937 Accrued compensation and related benefits 74,840 77,453 Other accrued liabilities 37,309 30,534 Operating lease liabilities, current 15,288 16,040 Finance lease liabilities, current 255 216 Deferred revenue 556,320 568,670 Total current liabilities 685,140 695,850 Operating lease liabilities, non-current 23,936 33,100 Finance lease liabilities, non-current 279 455 Deferred revenue, non-current 4,095 1,785 Other long-term liabilities 696 434 Total liabilities 714,146 731,624 Shareholders’ equity: Preferred stock, no par value; 10,000,000 shares authorized, no shares issued or outstanding as of October 31, 2024 and January 31, 2024 — — Class A common stock, no par value; 500,000,000 shares authorized, 139,302,943 shares issued and outstanding as of October 31, 2024; 500,000,000 shares authorized, 136,884,011 shares issued and outstanding as of January 31, 2024 — — Class B common stock, no par value; 500,000,000 shares authorized, no shares issued and outstanding as of October 31, 2024 and January 31, 2024 — — Additional paid-in capital 1,621,429 1,468,805 Accumulated other comprehensive income (loss) 196 (146 ) Accumulated deficit (912,480 ) (862,804 ) Total shareholders’ equity 709,145 605,855 Total liabilities and shareholders’ equity $ 1,423,291 $ 1,337,479 Net income (loss) $ 324 $ (95,655 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Share-based compensation expense 143,124 153,449 Depreciation and amortization 21,121 20,008 Net amortization of premiums (discounts) on investments (6,059 ) (8,746 ) Amortization of deferred commission costs 50,328 38,439 Unrealized foreign currency (gain) loss (577 ) 684 Non-cash operating lease costs 7,513 9,450 Impairment of long-lived assets 3,237 1,448 Other, net 5,495 3,089 Changes in operating assets and liabilities: Accounts receivable 33,770 16,541 Prepaid expenses and other current assets (5,576 ) 1,060 Other long-term assets (1,039 ) (1,401 ) Accounts payable (1,665 ) (997 ) Other accrued liabilities 6,656 4,100 Accrued compensation and related benefits (5,483 ) 2,021 Deferred commissions (58,185 ) (58,705 ) Deferred revenue (9,952 ) 25,439 Other long-term liabilities 262 278 Operating lease liabilities (10,544 ) (12,326 ) Net cash provided by operating activities 172,750 98,176 Purchases of short-term investments (235,421 ) (375,387 ) Maturities of short-term investments 281,965 281,900 Purchases of property and equipment (1,437 ) (2,097 ) Proceeds from sale of property and equipment 53 28 Capitalized internal-use software development costs (6,549 ) (7,850 ) Net cash provided by (used in) investing activities 38,611 (103,406 ) Proceeds from exercise of stock options 10,957 1,330 Taxes paid related to net share settlement of restricted stock units (14,896 ) (1,644 ) Proceeds from contributions to Employee Stock Purchase Plan 14,403 15,664 Principal payments of finance leases (141 ) — Repurchases of Class A Common Stock and related costs (50,000 ) — Net cash provided by (used in) financing activities (39,677 ) 15,350 Effects of changes in foreign currency exchange rates on cash, cash equivalents, and restricted cash 379 (248 ) Net increase in cash, cash equivalents, and restricted cash 172,063 9,872 Cash, cash equivalents, and restricted cash at beginning of period 282,442 223,757 Cash, cash equivalents, and restricted cash at end of period $ 454,505 $ 233,629 Cash paid for interest $ 43 $ — Cash paid for income tax 7,655 9,471 Accrued purchases of property and equipment, including internal-use software 1,081 1,264 Share-based compensation expense capitalized in internal-use software development costs 2,355 3,283 Right-of-use assets obtained in exchange for new operating lease liabilities 558 1,684 Right-of-use asset reductions related to operating leases 2,832 4,451 Purchases of fixed assets under finance leases — 693 Loss from operations $ (3,351 ) $ (35,450 ) $ (22,960 ) $ (103,712 ) Add: Share-based compensation expense (1) 46,842 50,170 145,511 154,919 Amortization of acquisition-related intangible assets (2) 2,308 2,701 7,320 8,117 Lease restructuring costs (3) 40 1,934 3,359 2,051 One-time acquisition costs 10,525 — 10,525 — Non-GAAP operating income $ 56,364 $ 19,355 $ 143,755 $ 61,375 Operating margin (1 )% (14 )% (3 )% (15 )% Non-GAAP operating margin 20 % 8 % 17 % 9 % Net income (loss) $ 1,324 $ (32,428 ) $ 324 $ (95,655 ) Add: Share-based compensation expense (1) 46,842 50,170 145,511 154,919 Amortization of acquisition-related intangible assets (2) 2,308 2,701 7,320 8,117 Lease restructuring costs (3) 40 2,142 3,359 2,258 One-time acquisition costs 10,525 — 10,525 — Non-GAAP net income $ 61,039 $ 22,585 $ 167,039 $ 69,639 Non-GAAP net income per share, basic $ 0.44 $ 0.17 $ 1.21 $ 0.52 Non-GAAP net income per share, diluted $ 0.43 $ 0.16 $ 1.18 $ 0.51 Weighted-average shares outstanding; basic 139,007 135,189 138,287 133,868 Effect of dilutive securities: Shares subject to outstanding common stock awards 3,661 3,232 3,019 3,653 Weighted-average common shares outstanding; diluted 142,668 138,421 141,306 137,521 Net cash provided by operating activities $ 63,528 $ 15,146 $ 172,750 $ 98,176 Less: Purchases of property and equipment (414 ) (702 ) (1,437 ) (2,097 ) Capitalized internal-use software development costs (1,232 ) (3,035 ) (6,549 ) (7,850 ) Principal payments of finance leases (89 ) — (141 ) — Free cash flow $ 61,793 $ 11,409 $ 164,623 $ 88,229 View source version on : CONTACT: Smartsheet Inc. Investor Relations Contact Aaron Turner Contact Lisa Henthorn KEYWORD: WASHINGTON UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE DATA ANALYTICS FINANCE ARTIFICIAL INTELLIGENCE DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY FINTECH SOURCE: Smartsheet Copyright Business Wire 2024. PUB: 12/05/2024 04:07 PM/DISC: 12/05/2024 04:06 PM