HAMILTON, Bermuda, May 05, 2025 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE:SPNT) today announced results for its first quarter ended March 31, 2025 Combined ratio of 95.4% in the first quarter for Core business with underwriting income of $29 millionNet premiums written growth of 20%, outpacing gross premiums written growth of 12% in the quarter for Core business, with strong growth from Insurance & ServicesFirst quarter return on equity of 12.9%, within 12-15% ‘across the c ...

Core Insights - Inseego Corp. has appointed George Mulhern, a wireless technology executive, to its Board of Directors, enhancing its leadership with his extensive experience in the wireless sector [1][2][3] - Mulhern's previous role as Chairman and CEO of Cradlepoint saw him lead a transformation that increased revenue by approximately 20 times, culminating in a successful acquisition by Ericsson [1][2] - The board size has increased from five to six members with Mulhern classified as an independent director, indicating a strategic move to strengthen governance [3] Company Overview - Inseego Corp. is a leader in 5G Enterprise cloud WAN solutions, serving millions of end customers and thousands of enterprise and SMB customers across its 4G, 5G, and cloud platforms [4] - The company's 5G Edge Cloud integrates advanced 5G technology with cloud networking features and intelligent edge applications, aimed at enhancing business outcomes and operational visibility [4]

Core Viewpoint - Shoals Technologies Group, Inc. has signed a Memorandum of Understanding (MOU) with UGT Renewables to collaborate on up to 12 gigawatts (GW) of solar projects, aiming to enhance energy transition efforts in emerging markets [1][2]. Group 1: Collaboration Details - The collaboration focuses on innovative electrical balance of system (EBOS) solutions to support sustainable development in emerging markets [1][2]. - UGT Renewables has a pipeline of 12 GW of solar projects, and the partnership aims to deliver efficient EBOS solutions that require less skilled labor, thus facilitating low-cost electrification [2][3]. Group 2: Project Impact - The initial projects in Angola, with a combined capacity of 600 megawatts (MW), are expected to electrify 60% of the Angolan population and provide clean water to over 1.1 million people [3]. - These projects are financed by the EXIM Bank in the United States and are set to break ground in 2025 [3]. Group 3: Company Background - Shoals Technologies Group is recognized as a leader in the renewable energy industry, providing innovative EBOS solutions that enhance installation efficiency and system performance [4]. - UGT Renewables and its sister company, Sun Africa, are major players in international renewable energy generation and energy storage, with extensive projects under development globally [5].

Core Points - Vornado Realty Trust has completed a master lease with New York University for 1,076,000 square feet at 770 Broadway for a 70-year term [1] - NYU made a prepaid lease payment of $935 million and will pay approximately $9.3 million annually during the lease [1] - NYU has options to purchase the leased premises in 2055 and at the end of the lease in 2095 [1] Financial Implications - Vornado used part of the prepaid lease payment to repay a $700 million mortgage loan on the property [2] - Vornado retains a 92,000 square feet retail condominium leased to Wegmans [2] - The transaction indicates a significant cash inflow for Vornado, enhancing its financial position [2]

Core Insights - Palomar Holdings, Inc. reported a strong financial performance for the first quarter of 2025, with net income increasing to $42.9 million, or $1.57 per diluted share, compared to $26.4 million, or $1.04 per diluted share, in the same period of 2024 [1][7][32] - Adjusted net income rose significantly by 84.6% to $51.3 million, or $1.87 per diluted share, from $27.8 million, or $1.09 per diluted share, year-over-year [1][7][32] - The company achieved a gross written premium growth of 20.1%, totaling $442.2 million, driven by new products and a balanced mix of residential and commercial property products [4][40] Financial Performance - The adjusted combined ratio improved to 68.5% from 73.0% in the prior year, indicating better underwriting efficiency [6][32] - The total loss ratio decreased to 23.6% from 24.9% year-over-year, with a catastrophe loss ratio of -0.3% compared to 3.1% in the previous year [5][32] - Net earned premiums increased by 52.1% to $164.1 million from $107.9 million in the first quarter of 2024 [4][32] Underwriting and Investment Results - Underwriting income for the quarter was $44.1 million, up from $25.0 million in the same period last year, resulting in a combined ratio of 73.1% compared to 76.9% [6][32] - Net investment income surged by 69.1% to $12.1 million, attributed to higher yields on invested assets and increased average investment balances [7][32] Strategic Initiatives - The company is focused on executing its 2025 strategic imperatives, including the successful acquisition of Advanced AgProtection, which is expected to enhance its Crop franchise [3][11] - Palomar's same-store premium growth rate was reported at 37%, reflecting strong underlying momentum across its specialty products portfolio [3][11] Outlook - For the full year 2025, Palomar expects adjusted net income to range between $186 million and $200 million, an increase from the initial outlook of $180 million to $192 million [11]

Core Insights - SI-BONE, Inc. reported strong financial results for Q1 2025, with significant revenue growth and improved profitability metrics [3][4][7]. Financial Performance - Worldwide revenue reached $47.3 million, a 24.9% increase from $37.9 million in Q1 2024 [4][9]. - U.S. revenue was $44.8 million, reflecting a 26.6% increase from $35.4 million in the same period last year [4][9]. - Gross profit was $37.7 million, up 26.2% from $29.9 million in Q1 2024, with a gross margin of 79.7%, an improvement of 80 basis points [5][9]. - Operating expenses increased by 7.8% to $45.2 million, driven by higher commercial activity and R&D investments [6][9]. - Operating loss improved by 37.9% to $7.5 million, while net loss decreased by 40.0% to $6.5 million, or $0.15 per diluted share [7][9]. - Adjusted EBITDA was positive at $0.5 million, a significant improvement from an adjusted EBITDA loss of $4.0 million in Q1 2024 [8][9]. Operational Highlights - The company added over 300 active U.S. physicians in the quarter, totaling over 1,400, representing a 27.3% growth [9]. - The strong underlying procedure demand and the rollout of new products contributed to revenue growth [4][9]. Guidance and Outlook - SI-BONE updated its 2025 revenue guidance to a range of $193.5 million to $197.5 million, implying year-over-year growth of approximately 16% to 18% [10][11]. - The company expects a gross margin of 78% for the full year and anticipates operating expenses to grow at around 10% [10][11].

Group 1 - Vimeo released its first quarter 2025 shareholder letter on its investor relations website [1] - A live stream video conference will be held today at 5:00 p.m. Eastern Time to discuss the first quarter results [1] - The live stream will include forward-looking information relevant to investors [1] Group 2 - Vimeo is recognized as the world's most innovative video experience platform [2] - The company serves millions of users, including creative storytellers and large global teams [2] - Vimeo's videos receive billions of views each month [2]

TORONTO, May 05, 2025 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) today announced the release of its 2024 annual report (“Annual Report”) which provides insight and transparency on key business, operating and financial accomplishments, as well as sustainability performance aligned with recognized global reporting standards. “2024 was a year of notable achievements for Hudbay across all our operations, projects and corporate activities. These achievements, built on w ...

Core Insights - Castle Biosciences, Inc. reported a 21% increase in Q1 2025 revenue to $88 million compared to Q1 2024 [1] - The company raised its full-year 2025 revenue guidance to $287-297 million from the previous range of $280-295 million [1][6] - The total test reports for core revenue drivers increased by 33% over Q1 2024 [1] Financial Performance - Revenues for Q1 2025 were $88 million, up from $73 million in Q1 2024, representing a 21% increase [4] - Adjusted revenues, excluding prior period adjustments, were $87.2 million, a 22% increase from $71.3 million in the same period last year [4] - The gross margin was 49%, while the adjusted gross margin remained at 81% [4] - The net loss for Q1 2025 was $25.8 million, compared to a net loss of $2.5 million in Q1 2024 [4][8] Operational Highlights - The company delivered 24,402 total test reports in Q1 2025, a 17% increase from 20,888 in Q1 2024 [4] - DecisionDx-Melanoma surpassed 200,000 test orders since its launch, indicating strong demand and clinical value [3][9] - The company decided to discontinue the IDgenetix test offering effective May 2025 [4][12] Cash Position - As of March 31, 2025, the company's cash, cash equivalents, and marketable investment securities totaled $275.2 million [5] Future Outlook - The company anticipates total revenue in 2025 to be between $287-297 million, reflecting confidence in continued growth [6] - Castle Biosciences is focused on expanding its proprietary test portfolio and enhancing patient outcomes [4][22]

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today reported monthly volumes for April 2025 on its Investor Relations website. A data sheet showing this information can be found at: http://ir.nasdaq.com/financials/volume-statistics. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We ...