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Zoom Reports Financial Results for the First Quarter of Fiscal Year 2022

  • First quarter total revenue of $956.2 million, up 191% year over year
  • Number of customers contributing more than $100,000 in TTM revenue up 160% year over year
  • Approximately 497,000 customers with more than 10 employees, up 87% year over year

SAN JOSE, Calif., June 01, 2021 (GLOBE NEWSWIRE) — Zoom Video Communications, Inc. (NASDAQ: ZM) today announced financial results for the first fiscal quarter ended April 30, 2021.

“We kicked off the fiscal year with a very strong first quarter, posting 191% total year-over-year revenue growth combined with strong profitability and cash flow. Our steadfast commitment to empowering customers to work and learn from anywhere with our expansive, innovative, and frictionless video communications platform continued to drive our results. With this solid start, we are pleased to raise our total guidance range to $3.975 billion to $3.990 billion for the full fiscal year,” said Zoom founder and CEO, Eric S. Yuan. “We have also opened our technology portfolio to developers through our powerful video SDK and to businesses to expand their reach through Zoom Events. Work is no longer a place, it’s a space where Zoom serves to empower your teams to connect and bring their best ideas to life. We are energized to help lead the evolution to hybrid work that allows greater flexibility, productivity, and happiness to both in-person and virtual connections.”

First Quarter Fiscal Year 2022 Financial Highlights:

  • Revenue: Total revenue for the first quarter was $956.2 million, up 191% year over year.
  • Income from Operations and Operating Margin: GAAP income from operations for the first quarter was $226.3 million, up from $23.4 million in the first quarter of fiscal year 2021. After adjusting for stock-based compensation expense and related payroll taxes, acquisition-related expenses, and litigation settlements, net, non-GAAP income from operations for the first quarter was $400.9 million, up from $54.6 million in the first quarter of fiscal year 2021. For the first quarter, GAAP operating margin was 23.7% and non-GAAP operating margin was 41.9%.
  • Net Income and Net Income Per Share: GAAP net income attributable to common stockholders for the first quarter was $227.4 million, or $0.74 per share, up from $27.0 million, or $0.09 per share in the first quarter of fiscal year 2021.

    Non-GAAP net income for the quarter was $402.1 million, after adjusting for stock-based compensation expense and related payroll taxes, acquisition-related expenses, litigation settlements, net, and undistributed earnings attributable to participating securities. Non-GAAP net income per share was $1.32. In the first quarter of fiscal year 2021, non-GAAP net income was $58.3 million, or $0.20 per share.

  • Cash and Marketable Securities: Total cash, cash equivalents, and marketable securities, excluding restricted cash, as of April 30, 2021 was $4.7 billion.
  • Cash Flow: Net cash provided by operating activities was $533.3 million for the first quarter, compared to $259.0 million in the first quarter of fiscal year 2021. Free cash flow, which is net cash provided by operating activities less purchases of property and equipment, was $454.2 million, compared to $251.7 million in the first quarter of fiscal year 2021.

Customer Metrics: Drivers of total revenue included acquiring new customers and expanding across existing customers. At the end of the first quarter of fiscal year 2022, Zoom had:

  • Approximately 497,000 customers with more than 10 employees, up approximately 87% from the same quarter last fiscal year.
  • 1,999 customers contributing more than $100,000 in trailing 12 months revenue, up approximately 160% from the same quarter last fiscal year.
  • A trailing 12-month net dollar expansion rate in customers with more than 10 employees above 130% for the 12th consecutive quarter.

Financial Outlook: Zoom is providing the following guidance for its second quarter fiscal year 2022 and its full fiscal year 2022.

  • Second Quarter Fiscal Year 2022: Total revenue is expected to be between $985.0 million and $990.0 million and non-GAAP income from operations is expected to be between $355.0 million and $360.0 million. Non-GAAP diluted EPS is expected to be between $1.14 and $1.15 with approximately 311 million non-GAAP weighted average shares outstanding.
  • Full Fiscal Year 2022: Total revenue is expected to be between $3.975 billion and $3.990 billion. Non-GAAP income from operations is expected to be between $1.425 billion and $1.440 billion. Non-GAAP diluted EPS is expected to be between $4.56 and $4.61 with approximately 311 million non-GAAP weighted average shares outstanding.

Additional information on Zoom’s reported results, including a reconciliation of the non-GAAP results to their most comparable GAAP measures, is included in the financial tables below. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future, although it is important to note that these factors could be material to Zoom’s results computed in accordance with GAAP.

A supplemental financial presentation and other information can be accessed through Zoom’s investor relations website at investors.zoom.us.

Zoom Video Earnings Call

Zoom will host a Zoom Video Webinar for investors on June 1, 2021 at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss the company’s financial results and business highlights. Investors are invited to join the Zoom Video Webinar by visiting: https://investors.zoom.us/

About Zoom

Zoom is for you. We help you express ideas, connect to others, and build toward a future limited only by your imagination. Our frictionless communications platform is the only one that started with video as its foundation, and we have set the standard for innovation ever since. That is why we are an intuitive, scalable, and secure choice for large enterprises, small businesses, and individuals alike. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Visit zoom.com and follow @zoom.

Forward-Looking Statements

This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial outlook for the second quarter of fiscal year 2022 and full fiscal year 2022, Zoom’s growth strategy and business aspirations to lead the evolution to hybrid work. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements, including: declines in new customers and hosts, renewals or upgrades, difficulties in evaluating our prospects and future results of operations given our limited operating history, competition from other providers of communications platforms, continued uncertainty regarding the extent and duration of the impact of COVID-19 and the responses of government and private industry thereto, including the potential effect on our user growth rate once the impact of the COVID-19 pandemic tapers, particularly as a vaccine becomes widely available, and users return to work or school or are otherwise no longer subject to shelter-in-place mandates, as well as the impact of COVID-19 on the overall economic environment, any or all of which will have an impact on demand for remote work solutions for businesses as well as overall distributed, face-to-face interactions and collaboration using Zoom, delays or outages in services from our co-located data centers, and failures in internet infrastructure or interference with broadband access which could cause current or potential users to believe that our systems are unreliable. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our most recent filings with the Securities and Exchange Commission (the “SEC”), including our annual report on Form 10-K for the fiscal year ended January 31, 2021. Forward-looking statements speak only as of the date the statements are made and are based on information available to Zoom at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Zoom assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.

Non-GAAP Financial Measures

Zoom has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Zoom uses these non-GAAP financial measures internally in analyzing its financial results and believes that use of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing Zoom’s financial results with other companies in its industry, many of which present similar non-GAAP financial measures.

Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with Zoom’s condensed consolidated financial statements prepared in accordance with GAAP. A reconciliation of Zoom’s historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review the reconciliation.

Non-GAAP Income From Operations and Non-GAAP Operating Margins. Zoom defines non-GAAP income from operations as income from operations excluding stock-based compensation expense and related payroll taxes, expenses related to charitable donation of common stock, acquisition-related expenses, and litigation settlements, net. Zoom excludes stock-based compensation expense and expenses related to charitable donation of common stock because they are non-cash in nature and excluding these expenses provides meaningful supplemental information regarding Zoom’s operational performance and allows investors the ability to make more meaningful comparisons between Zoom’s operating results and those of other companies. Zoom excludes the amount of employer payroll taxes related to employee stock plans, which is a cash expense, in order for investors to see the full effect that excluding stock-based compensation expense had on Zoom’s operating results. In particular, this expense is dependent on the price of our common stock and other factors that are beyond our control and do not correlate to the operation of the business. Zoom views acquisition-related expenses when applicable, such as amortization of acquired intangible assets, transaction costs, and acquisition-related retention payments that are directly related to business combinations as events that are not necessarily reflective of operational performance during a period. Zoom excludes significant litigation settlements, net of amounts covered by insurance, that we deem not to be in the ordinary course of our business. In particular, Zoom believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods which may or may not include such expenses and assist in the comparison with the results of other companies in the industry.

Non-GAAP Net Income and Non-GAAP Net Income Per Share, Basic and Diluted. Zoom defines non-GAAP net income and non-GAAP net income per share, basic and diluted, as GAAP net income attributable to common stockholders and GAAP net income per share attributable to common stockholders, basic and diluted, respectively, adjusted to exclude stock-based compensation expense and related payroll taxes, expenses related to charitable donation of common stock, acquisition-related expenses, litigation settlements, net, and undistributed earnings attributable to participating securities. Zoom excludes undistributed earnings attributable to participating securities because they are considered by management to be outside of Zoom’s core operating results, and excluding them provides investors and management with greater visibility to the underlying performance of Zoom’s business operations, facilitates comparison of its results with other periods and may also facilitate comparison with the results of other companies in the industry.

In order to calculate non-GAAP net income per share, basic and diluted, Zoom uses a non-GAAP weighted-average share count. Zoom defines non-GAAP weighted-average shares used to compute non-GAAP net income per share, basic and diluted, as GAAP weighted average shares used to compute net income per share attributable to common stockholders, basic and diluted, adjusted to reflect the common stock issued in connection with the IPO, including the concurrent private placement, that are outstanding as of the end of the period as if they were outstanding as of the beginning of the period for comparability.

Free Cash Flow. Zoom defines free cash flow as GAAP net cash provided by operating activities less purchases of property and equipment. Zoom considers free cash flow to be a liquidity measure that provides useful information to management and investors regarding net cash provided by operating activities and cash used for investments in property and equipment required to maintain and grow the business.

Customer Metrics

Zoom defines a customer as a separate and distinct buying entity, which can be a single paid host or an organization of any size (including a distinct unit of an organization) that has multiple paid hosts.

Zoom calculates net dollar expansion rate as of a period end by starting with the annual recurring revenue (“ARR”) from all customers with more than 10 employees as of 12 months prior (“Prior Period ARR”). Zoom defines ARR as the annualized revenue run rate of subscription agreements from all customers at a point in time. We then calculate the ARR from these customers as of the current period end (“Current Period ARR”), which includes any upsells, contraction, and attrition. Zoom divides the Current Period ARR by the Prior Period ARR to arrive at the net dollar expansion rate. For the trailing 12 months calculation, Zoom takes an average of the net dollar expansion rate over the trailing 12 months.

Press Relations

Colleen Rodriguez
Global Public Relations Lead for Zoom
press@zoom.us

Investor Relations

Tom McCallum
Head of Investor Relations for Zoom
investors@zoom.us

Zoom Video Communications, Inc.
Condensed Consolidated Balance Sheets
(Unaudited, in thousands)

As of
April 30,
2021		 January 31,
2021
Assets
Current assets:
Cash and cash equivalents $ 1,557,270 $ 2,240,303
Marketable securities 3,132,309 2,004,410
Accounts receivable, net 366,346 294,703
Deferred contract acquisition costs, current 148,645 136,630
Prepaid expenses and other current assets 136,326 116,819
Total current assets 5,340,896 4,792,865
Deferred contract acquisition costs, noncurrent 155,295 157,262
Property and equipment, net 192,410 149,924
Operating lease right-of-use assets 93,780 97,649
Goodwill 24,340 24,340
Other assets, noncurrent 81,890 75,953
Total assets $ 5,888,611 $ 5,297,993
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable $ 8,324 $ 8,664
Accrued expenses and other current liabilities 450,678 393,018
Deferred revenue, current 1,069,334 858,284
Total current liabilities 1,528,336 1,259,966
Deferred revenue, noncurrent 25,089 25,211
Operating lease liabilities, noncurrent 86,433 90,415
Other liabilities, noncurrent 56,020 61,634
Total liabilities 1,695,878 1,437,226
Stockholders’ equity:
Preferred stock — —
Common stock 293 292
Additional paid-in capital 3,292,241 3,187,168
Accumulated other comprehensive income 200 839
Retained earnings 899,999 672,468
Total stockholders’ equity 4,192,733 3,860,767
Total liabilities and stockholders’ equity $ 5,888,611 $ 5,297,993

Note: The amount of unbilled accounts receivable included within accounts receivable, net on the condensed consolidated balance sheets was $28.8 million and $24.6 million as of April 30, 2021 and January 31, 2021, respectively.

Zoom Video Communications, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except share and per share amounts)

Three Months Ended April 30,
2021 2020
Revenue $ 956,237 $ 328,167
Cost of revenue 264,994 103,707
Gross profit 691,243 224,460
Operating expenses:
Research and development 65,175 26,389
Sales and marketing 245,667 121,556
General and administrative 154,089 53,130
Total operating expenses 464,931 201,075
Income from operations 226,312 23,385
Interest income and other, net 2,619 5,790
Income before provision for income taxes 228,931 29,175
Provision for income taxes 1,400 2,100
Net income 227,531 27,075
Undistributed earnings attributable to participating securities (148 ) (39 )
Net income attributable to common stockholders $ 227,383 $ 27,036
Net income per share attributable to common stockholders:
Basic $ 0.77 $ 0.10
Diluted $ 0.74 $ 0.09
Weighted-average shares used in computing net income per share attributable to common stockholders:
Basic 293,794,778 279,891,111
Diluted 305,412,419 295,184,958

Zoom Video Communications, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited, in thousands)

Three Months Ended April 30,
2021 2020
Cash flows from operating activities:
Net income $ 227,531 $ 27,075
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense 98,969 28,777
Amortization of deferred contract acquisition costs 37,766 16,287
Charitable donation of common stock — 1,000
Provision for accounts receivable allowances 4,055 3,868
Depreciation and amortization 10,663 5,339
Non-cash operating lease cost 4,274 2,248
Other 5,866 (1,421 )
Changes in operating assets and liabilities:
Accounts receivable (75,665 ) (142,501 )
Prepaid expenses and other assets (29,975 ) (49,080 )
Deferred contract acquisition costs (47,813 ) (124,854 )
Accounts payable 1,592 1,756
Accrued expenses and other liabilities 88,656 167,322
Deferred revenue 210,896 322,862
Operating lease liabilities, net (3,513 ) 287
Net cash provided by operating activities 533,302 258,965
Cash flows from investing activities:
Purchases of marketable securities (1,425,451 ) (207,546 )
Maturities of marketable securities 291,047 137,014
Sales of marketable securities — 26,613
Purchases of property and equipment (79,074 ) (7,272 )
Purchase of equity investment — (8,000 )
Purchase of convertible promissory note (6,500 ) (5,000 )
Purchase of intangible assets — (162 )
Other — 1,319
Net cash used in investing activities (1,219,978 ) (63,034 )
Cash flows from financing activities:
Proceeds from employee equity transactions (remitted) to be remitted to employees and tax authorities, net (9,984 ) 218,540
Proceeds from exercise of stock options 3,368 9,586
Other 337 —
Net cash (used in) provided by financing activities (6,279 ) 228,126
Net (decrease) increase in cash, cash equivalents, and restricted cash (692,955 ) 424,057
Cash, cash equivalents, and restricted cash – beginning of period 2,293,116 334,082
Cash, cash equivalents, and restricted cash – end of period $ 1,600,161 $ 758,139

Zoom Video Communications, Inc.
Reconciliation of GAAP to Non-GAAP Measures
(Unaudited, in thousands, except share and per share amounts)

Three Months Ended April 30,
2021 2020
GAAP income from operations $ 226,312 $ 23,385
Add:
Stock-based compensation expense and related payroll taxes 104,375 30,246
Litigation settlements, net 66,916 —
Acquisition-related expenses 3,284 —
Charitable donation of common stock — 1,000
Non-GAAP income from operations $ 400,887 $ 54,631
GAAP net income attributable to common stockholders $ 227,383 $ 27,036
Add:
Stock-based compensation expense and related payroll taxes 104,375 30,246
Litigation settlements, net 66,916 —
Acquisition-related expenses 3,284 —
Charitable donation of common stock — 1,000
Undistributed earnings attributable to participating securities 148 39
Non-GAAP net income $ 402,106 $ 58,321
Net income per share – basic and diluted:
GAAP net income per share – basic $ 0.77 $ 0.10
Non-GAAP net income per share – basic $ 1.37 $ 0.21
GAAP net income per share – diluted $ 0.74 $ 0.09
Non-GAAP net income per share – diluted $ 1.32 $ 0.20
GAAP and non-GAAP weighted-average shares used to compute net income per share – basic 293,794,778 279,891,111
GAAP and non-GAAP weighted-average shares used to compute net income per share – diluted 305,412,419 295,184,958
Net cash provided by operating activities $ 533,302 $ 258,965
Less:
Purchases of property and equipment (79,074 ) (7,272 )
Free cash flow (non-GAAP) $ 454,228 $ 251,693
Net cash used in investing activities $ (1,219,978 ) $ (63,034 )
Net cash (used in) provided by financing activities $ (6,279 ) $ 228,126

 

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A new chapter powered by a global coalition: SNOMED International releases its 2020 Annual Report

London, UK, June 01, 2021 (GLOBE NEWSWIRE) — 2020 has been a year like no other in the world’s recent history. The COVID-19 pandemic has impacted the health and well-being of a global community, and, in doing so, has necessitated shifts in the way the world conducts business, engages with colleagues, and, at a personal level, connects with family and friends. The continued dedication and service of healthcare providers globally, despite the new demands placed on them as a result of the pandemic, cannot be overstated.

SNOMED International’s 2020 Annual Report, “A new chapter powered by a global coalition,” demonstrates the vast breadth of progress made possible by the will of a growing and committed community. The start of the year was marked by the delivery of necessary COVID-19 terminology to equip healthcare systems globally in their management of the pandemic, an activity which continued steadily throughout the year. Further, 2020 marked the first year of a new five-year strategy, the focus of which tackled many imperatives for the organization’s product and services enhancement and innovation.

The organization continued to strengthen its connections with Members through refreshed statements of the value SNOMED CT delivers to its complement of stakeholders, further underlining the case for investment in SNOMED CT — a product uniquely positioned to support innovation in medicine with artificial intelligence and personalized medicine playing an increasingly prevalent role in safe and informed care delivery.

As SNOMED International continues to satisfy the mission and vision that guide its new strategy, the organization is energized by the desire for innovation and commitment to excellence observed from Members, governance bodies and the SNOMED CT Community of Practice.

SNOMED International is proud of its collective achievements in 2020 and looks forward to sharing them with the global SNOMED CT community. Read SNOMED International’s 2020 Annual Report and contact info@snomed.org with inquiries.

About SNOMED International

SNOMED International is a not-for-profit organization that owns and develops SNOMED CT, the world’s most comprehensive healthcare terminology product. We play an essential role in improving the health of humankind by determining standards for a codified language that represents groups of clinical terms. This enables healthcare information to be exchanged globally for the benefit of patients and other stakeholders. A Member oriented organization, we are committed to the rigorous evolution of our products and services, to deliver continuous innovation for the global healthcare community. SNOMED International is the trading name of the International Health Terminology Standards Development

Kelly Kuru
SNOMED International
comms@snomed.org
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BAND Royalty Is Changing the NFT Landscape

NEW YORK, June 01, 2021 (GLOBE NEWSWIRE) — via InvestorWire — BAND Royalty today announces its placement in an editorial published by NetworkNewsWire (“NNW”), one of 50+ trusted brands within the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities.

To view the full publication, “NFTs Flipping the Script, Bringing Value Back to Music Artists,” please visit: https://nnw.fm/dvON4

Currently retail investors can only get exposure to the music industry by buying stock in a public music label, investing in funds that buy/sell music royalties, or via websites that auction royalty rights, often well into the six-figure dollar range. In what many perceive as a ground-floor opportunity, BAND Royalty is changing the landscape and making it accessible for retail investors to participate by owning NFTs.

After a private sale of music NFTs that generated almost $1 million, BAND launched its own NFT sales platform on its website, creating the first music NFT-only platform this month. The company opened up access to the first series of 3,000 BAND NFTs on its platform, staggering the release based on rarity. The company’s plan is to keep the NFT count tight, much like other popular NFT projects such as CryptoPunks and Hashmasks, both of which have had secondary market sales in the millions of dollars. The long-term intention is to have a maximum of 12,000 BAND NFTs across four different series to be released over the next 18 months.

About BAND Royalty

BAND Royalty lets music lovers and fans take their enjoyment of music to the next level by offering blockchain-secured BAND NFTs that enable holders to earn crypto from some of the world’s most popular songs. This unique opportunity allows individuals to share in income streams each time a song in the BAND music catalog is performed. The name BAND is derived from the initials of its co-founders, blockchain experts Barnaby Andersun (BA) + Noble Drakoln (ND).

To learn more about the company, visit https://BandRoyalty.com

NOTE TO INVESTORS: The latest news and updates relating to BAND are available in the company’s newsroom at https://ibn.fm/BAND

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness.

NNW is where news, content and information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

For more information please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

NetworkNewsWire is part of the InvestorBrandNetwork

 

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ST, RAMSEM open first African sorting lab

NAVASOTA, Texas, May 28, 2021 (GLOBE NEWSWIRE) — Global livestock semen sorting leader and innovator Sexing Technologies® (ST) has partnered with pioneering livestock artificial insemination company RAMSEM to establish Africa’s first semen sorting lab. The lab is at RAMSEM’s facility near Bloemfontein, South Africa.

The lab will produce fresh and frozen sex-sorted semen from sheep, goats and cattle. ST’s sex sorting method separates X chromosome (female) bearing sperm from Y chromosome (male) bearing sperm through a process called flow cytometry. This provides customers with semen that is more than 90 percent accurate for the desired gender and achieves conception rates comparable to conventional (unsorted) semen used for artificial insemination.

RAMSEM is a globally renowned leader in sheep and goat reproductive services, most notably the semen freezing and laparoscopic artificial insemination (A.I.) techniques introduced to South Africa in 1985 by Dr. Johan Steyn, one of the company’s founders. Since its founding, RAMSEM has expanded its service offerings to include embryo transfer (ET) and exporting sheep genetics worldwide. Dr. Johan Steyn remains on staff as head of the company’s laparoscopic A.I. and ET programs

“Ramsem is privileged to partner with Sexing Technologies, the most reputable name in the business of semen sorting services,” says Dr. Fanie Steyn, RAMSEM Managing Director and son of Dr. Johan Steyn. “This partnership introduced semen sorting to the African continent and is set to revolutionize the breeding industry for Southern African cattle, sheep and goats. ST’s cutting edge research and development work has resulted in its flagship sorted semen product, SexedULTRA, which is already producing results comparable to conventional fresh semen laparoscopic A.I. in South Africa.

“This partnership truly embodies RAMSEM’s motto that ‘experience plus technology equals results!’” Dr. Fanie Steyn adds.

RAMSEM also works to help conserve Africa’s wildlife. The company is providing semen freezing services to ARK Biotech for preservation of African Buffalo, Rhinoceros and Lion genetics. With the opening of the lab, RAMSEM will expand its partnership with ARK Biotech to include semen sorting and invitro fertilization services.

-30-

Sexing Technologies® is the world leader and innovator and leader in livestock semen sex-sorting technology.

Attachment

Francisco Bobadilla
Sexing Technologies
936-870-3960
francisco.bobadilla@stgen.com

 

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Results of the COLCORONA study published in The Lancet Respiratory Medicine

Colchicine could be considered as a treatment for non-hospitalized patients diagnosed with COVID-19 by PCR test and at risk of complications

MONTREAL, May 28, 2021 (GLOBE NEWSWIRE) — The Montreal Heart Institute (MHI) announces that the COLCORONA study results are published in The Lancet Respiratory Medicine. The article, which is entitled Colchicine for community-treated patients with COVID-19 (COLCORONA): a phase 3, randomised, double-blinded, adaptive, placebo-controlled, multicentre trial, concludes that, given the lack of oral therapies available to prevent COVID-19 complications among non-hospitalized patients and the observed benefit of colchicine in patients with a PCR-confirmed diagnosis of COVID-19, this anti-inflammatory drug could be considered as a treatment for those at risk of complications.

“Given the current pandemic, while awaiting collective immunity through vaccination around the world, the need for treatments to prevent COVID-19 complications among patients who contract the disease remains”, said Dr. Jean-Claude Tardif, Director of the MHI Research Centre, Professor at the Faculty of Medicine of the Université de Montréal and Principal Investigator of COLCORONA. “Our study showed that colchicine could be used to reduce the risk of complications for some patients with COVID-19.”

Colchicine is an inexpensive and readily available anti-inflammatory drug. Orally administered, it is currently prescribed to treat gout, Familial Mediterranean Fever and pericarditis. The COLCORONA study assessed colchicine’s potential to reduce the risk of COVID-19-related complications in outpatients over 40 years of age with at least one risk factor for disease progression.

The study’s primary efficacy endpoint was the composite of death or hospitalization in patients with COVID-19. Of the 4,488 patients enrolled, including those without a PCR-confirmed diagnosis, the primary endpoint occurred in 4.7% of patients in the colchicine group and 5.8% of those in the placebo group, a non-statistically significant result. For the 4,159 patients with a PCR-based diagnosis of COVID-19, the primary endpoint occurred in 4.6% of patients in the colchicine group and 6.0% of patients in the placebo group, a statistically significant result. Serious adverse events were reported in 4.9% of patients in the colchicine group and 6.3% of those in the placebo group. Notwithstanding these results, it is recommended that studies such as this one be replicated in non-hospitalized patients with a PCR-confirmed diagnosis of COVID-19. Full study results are available here: http://www.thelancet.com/journals/lanres/article/PIIS2213-2600(21)00222-8/fulltext.

“The COLCORONA study expands on our knowledge of the role of oral, cheap and widely available repurposed drugs such as colchicine to treat people early on to prevent serious complications of COVID-19 and can help practitioners and their patients make informed treatment decisions,” said Yves Rosenberg, M.D., M.P.H., chief of the Atherothrombosis and Coronary Artery Disease Branch at the National Heart, Lung, and Blood Institute, part of the United States National Institutes of Health.

COLCORONA (NCT04322682) is a randomized, double-blinded, placebo-controlled, home-based clinical trial. It was conducted in Canada, the United States, Europe, South America, and South Africa. The study included 4,488 non-hospitalized patients over 40 years of age with COVID-19 at the time of inclusion, with at least one identified risk factor for COVID-19 complications (e.g., diabetes, hypertension, known respiratory disease, obesity). Patients were randomized to receive colchicine (0.5 mg twice daily for three days and once daily after) or placebo for 30 days.

The Montreal Health Innovation Coordinating Centre (MHICC) at the MHI coordinated COLCORONA, which was funded by the Quebec government, the National Heart, Lung, and Blood Institute of the U.S. National Institutes of Health (NIH), Montreal philanthropist Sophie Desmarais, and the COVID-19 Therapeutics Accelerator, an initiative launched by the Bill & Melinda Gates Foundation, Wellcome and Mastercard. Montreal-based CGI, Dacima and Pharmascience were also collaborators in the study.

About the Montreal Heart Institute 
Founded in 1954, the Montreal Heart Institute constantly aims for the highest standards of excellence in the cardiovascular field through its leadership in clinical and basic research, ultra-specialized care, professional training, and prevention. It houses the largest cardiology research center in Canada, the largest cardiovascular prevention center in the country, and the largest cardiovascular genetics center in Canada. The Institute is affiliated with the Université de Montréal and has more than 2,000 employees, including 245 doctors and more than 85 researchers. icm-mhi.org

About the Montreal Health Innovations Coordinating Center (MHICC) 
The Montreal Health Innovations Coordinating Center (MHICC) is a leading academic clinical research organization and an integral part of the Montreal Heart Institute (MHI). The MHICC possesses an established network of collaborators in over 4,500 clinical sites in more than 35 countries. It has specific expertise in precision medicine, low-cost high-quality clinical trials, and drug repurposing. mhicc.org

About Pharmascience
Founded in 1983, Pharmascience Inc. is the largest pharmaceutical employer in Quebec. With its head office located in Montreal and its 1,500 employees, Pharmascience Inc. is a private pharmaceutical company with deep roots in Canada, and whose global reach spans across more than 60 countries. Ranked 47th among the top 100 Canadian investors in Research and Development (R&D), thanks to $49,5 million investment in 2018, Pharmascience Inc. is one of the largest manufacturer of generic drugs in the country. pharmascience.com

About CGI
Founded in 1976, CGI is one of the world’s largest information technology (IT) and management consulting firms. From hundreds of locations around the world, CGI offers a complete portfolio of services and solutions: strategic IT and management consulting services, systems integration services, intellectual property solutions as well as IT and business process management services in delegated mode. cgi.com/canada

About Dacima
Founded in 2006, Dacima Software Inc. is a leading innovator in Electronic Data Capture (EDC) software for clinical research. Dacima’s EDC software, Dacima Clinical Suite, is a fully feature EDC software application with integrated modules for patient randomization (IWRS), supply management, ePRO, eDiary, medical coding and eConsent. Dacima’s flexible and highly configurable EDC platforms allow for the design of all types of study designs including clinical trials, patient registries, observational studies and web surveys through an intuitive user-friendly web interface. dacimasoftware.com

About the COVID-19 Therapeutics Accelerator
The Therapeutics Accelerator is an initiative launched by the Bill & Melinda Gates Foundation, Wellcome, and Mastercard with support from public and philanthropic donors to speed up the response to the COVID-19 pandemic by identifying, assessing, developing, and scaling up treatments. Its partners are committed to equitable access, including making products available and affordable in low-resource settings. www.therapeuticsaccelerator.org

Relations médias :
Camille Turbide
Camille.turbide@gmail.com
+ 1 514 755-5354

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Taconic Biosciences Launches TruIMPORT™ Importation Solution

Rodent Models Originating in China Can Be Imported Into Virtually Any Academic Vivarium Without Quarantine

RENSSELAER, N.Y., May 27, 2021 (GLOBE NEWSWIRE) — Taconic Biosciences, a global leader in providing drug discovery animal model solutions, announces a significant enhancement to the Taconic-Cyagen Model Generation Alliance allowing seamless importation of new genetically engineered models originating in China under the TruIMPORT™ umbrella.

Researchers at non-profit institutions play a critical role in drug discovery; however, outsourcing animal model generation can be cost prohibitive or a logistical challenge. Hurdles in accessing animal model resources can impede important research. Potential solutions to this problem have traditionally come with trade-offs. Depending on the country of origin, cost effective options can require a lengthy quarantine of the animals or additional breeding to ensure animals meet the required health standards for entry into the institution’s animal facility. These additional steps can cost the researcher both time and money.

Originally launched in 2018, the Taconic-Cyagen Model Generation Alliance (the Alliance) for academic and non-profit researchers leverages the talents of two industry-leading companies to create a solution uniquely tailored for non-profit research institutions. Taconic Biosciences has over 65 years of rodent model experience and Cyagen Biosciences is a China-based leader in model generation efficiency and a competitive cost structure. Since its inception, the Alliance has become a recognized leader in providing model generation services to academics and non-profit researchers. TruIMPORT™ represents an important evolution in this service offering. It allows animal models from China to be imported into United States and European animal facilities while complying with existing vivarium requirements. Providing a set of choices, TruIMPORT™ allows customers to access efficient model generation with several pricing options depending on desired delivery timeline, health standard, and cohort size.

“Our main goal is to solve problems for our customers,” shared Dr. John Couse, vice president of scientific services for Taconic. “While the Alliance has provided efficient model generation for years, importation concerns were a barrier for many customers. By creating multiple options under the TruIMPORT™ umbrella, customers can now import rodent models from China without quarantine regardless of the requirements of their vivarium.”

The TruIMPORT™ portfolio consists of three importation options: RapidRELAY™, RapidCHECK™, and RapidEXPANSION™. Customers can compare product specifications here to determine which represents the right combination of timeline, health standards, and deliverables to meet their needs.

About Taconic Biosciences, Inc.

Taconic Biosciences is a fully-licensed, global leader in genetically engineered rodent models and services. Founded in 1952, Taconic provides the best animal solutions so that customers can acquire, custom-generate, breed, precondition, test, and distribute valuable research models worldwide. Specialists in genetically engineered mouse and rat models, microbiome, immuno-oncology mouse models, and integrated model generation and colony management services, Taconic operates three service laboratories and six breeding facilities in the U.S. and Europe, maintains distributor relationships in Asia and has global shipping capabilities to provide animal models almost anywhere in the world.

About Cyagen Biosciences, Inc.

Cyagen Biosciences is a leading provider of comprehensive genetically engineered rodent model services. Cyagen utilizes a highly efficient process, including its proprietary AI technology, to design and deliver novel genetically engineered models with precision and competitive pricing. The Cyagen Transgenic Animal Center (CTAC) in China is a state-of-the-art, specific-pathogen free (SPF) barrier facility, which is both AAALAC accredited and OLAW assured. Cyagen has additional locations in the United States, Japan, and China. Since Cyagen’s founding in 2005, we have delivered over 78,400 animal models to researchers worldwide and have been cited in over 4,700 publications.

Media Contact:

Kelly Owen Grover

Director of Marketing Communications

518-478-6095

kelly.grover@taconic.com

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GMAC Welcomes Top Latin American Business School as Its Newest Member

EGADE Business School brings diversity and prestige to the Council

RESTON, Va., May 27, 2021 (GLOBE NEWSWIRE) — The Graduate Management Admission Council™ (GMAC™) today announced that EGADE Business School at Tecnológico de Monterrey has become the Council’s latest member. Located in Mexico, the EGADE Business School is selected for its world-class programs and international recognition in and beyond Latin America, adding great representation of the region to the global association that constitutes 229 top business schools around the world.

“EGADE Business School at Tecnológico de Monterrey has built a globally recognized reputation as the leading Latin American business education institution, committed to empowering entrepreneurial leaders who create shared value and transform society,” said Dr. Osmar Zavaleta, interim dean of EGADE Business School. “EGADE is committed to the exchange of ideas and best practices with our global peers and GMAC membership provides a valuable platform for enhancing that exchange other GMAC member schools”.

“The pandemic has taught us to be innovative and adaptive in a disruptive environment of an interconnected world,” said Sangeet Chowfla, president and CEO of GMAC. “We value the global vision and holistic approach that EGADE Business School brings and look forward to their contributions to the advancement of graduate management education.”

EGADE Business Schools is among a select group of institutions internationally to hold the “triple-crown” of excellence from the three leading global accreditation systems for business education quality assessment and continuous improvement: Association to Advance Collegiate Schools of Business (AACSB), Association of MBAs (AMBA), and EFMD Quality Improvement System (EQUIS). For the fourth consecutive year in 2021, EGADE Business School topped the Quacquarelli Symonds (QS) ranking in Mexico and Latin America for its Full-Time MBA in Innovation & Entrepreneurship and Master in Finance programs and appears for the first time as the regional leader for its recently introduced Masters in Management.

To be considered for membership in GMAC, a school must maintain a selective admissions process; offer a master’s program in business administration, management subjects or equivalent; and demonstrate support of GMAC’s mission through the use of its products and services.

About GMAC™

The Graduate Management Admission Council™ (GMAC™) is a mission-driven association of leading graduate business schools worldwide. Founded in 1953, GMAC creates solutions and experiences that enable business schools and candidates to better discover, evaluate, and connect with each other.

GMAC™ provides world-class research, industry conferences, recruiting tools, and assessments for the graduate management education industry, as well as tools, resources, events, and services that help guide candidates through their higher education journey. Owned and administered by GMAC, the Graduate Management Admission Test™ (GMAT™) exam is the most widely used graduate business school assessment.

GMAC™ also owns and administers the NMAT by GMAC™ (NMAT™) exam and the Executive Assessment (EA). More than 7 million candidates on their business master’s or MBA journey visited GMAC’s mba.com last year to explore business school options, prepare and register for exams, and get advice on the admissions process. BusinessBecause and The MBA Tour are subsidiaries of GMAC™, a global organization with offices in China, India, the United Kingdom, and the United States.

To learn more about our work, please visit www.gmac.com

Media Contact:

Teresa Hsu
Sr. Manager, Media Relations
202-390-4180 (mobile)
thsu@gmac.com