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Andy Cohen’s biggest gripe with CNN star and New Year’s Eve partner-in-crime Anderson Cooper? Cooper’s annual giggle fit. Cohen explained to People why the anchor’s unceasing laughter adds extra chaos throughout their annual special. “Well, [it’s] that I have to be the straight guy,” Cohen said. “Literally, he’s in a puddle of giggles for the last 90 minutes of the broadcast, and I’m the one that’s hitting all the commercial breaks.” Cohen said he turns “into Mr. CNN for the last 90 minutes” while Cooper becomes “Mr. Bravo.” “It’s a very funny role reversal,” the Bravo star said. The longtime friends have hosted the CNN event together since 2017 after former co-host Kathy Griffin was booted in the wake of backlash for posing with a mask depicting the severed head of Donald Trump. Cohen and Cooper have found themselves in various antics since then— some alcoholic , some not —leading to Cooper’s own frustrations with the Bravo host. Cooper joked on Cohen’s Watch What Happens Live earlier this month that he constantly worries about “who [Cohen’s] gonna insult and what the clean up on aisle 3 is gonna be in the morning.” Billionaire businessman Charles Dolan, who founded HBO and Cablevision and whose family owns Madison Square Garden and a number of New York City sports teams, died on Saturday—he was 98. Dolan created Cablevision Systems Corporation in 1973, merging several small Long Island cable TV systems, according to the New York Times . At the time, the company served just 1,500 customers. But when he sold it for $17.7 billion in 2015, it supplied cable TV to over three million households in the New York metropolitan area, the Times reported. He also launched HBO in the early ’70s—it was at the time a pioneering cable TV channel that offered feature-length movies with no commercials. After his death, Dolan’s family will continue to be a powerful and influential force in the worlds of media and sports. His son Patrick is the owner of Newsday , the Long Island-based newspaper he and Charles bought in 2016. The family also owns MSG in New York City and the professional sports teams that play there, the NHL’s Rangers and the NBA’s Knicks. All three entities are led by Dolan’s son James. Scouted selects products independently. If you purchase something from our posts, we may earn a small commission. Boxing Week sales are still in full swing, folks! As an avid J.Crew fan , I can honestly say that the brand’s discount-laden factory store (the brand’s online outlet) is a great way to get high-quality wardrobe staples without the big price tag. J.Crew Factory always offers discounts up to 40 percent off J.Crew, but for a limited time, you can unlock even more savings from already discounted items. Right now, J.Crew Factory is offering 70 percent off clearance items with the code SALE70 at checkout. Now’s the time to invest in evergreen staples like jeans and office-friendly blazers while they’re half off, or grab a few outwear essentials to round out your cold-weather lineup. The sale also includes tons of denim for just $50, pure cotton crewneck T-shirts for $20, and even new arrivals like NYE frocks and cashmere items. And the sale is not just for women; the gents’ and kids’ sections are equally full of additional savings. Tina Knowles sprang to her daughter Beyoncé’s defense after online trolls criticized her NFL halftime show performance on Christmas Day. Knowles clapped back at critics by reposting a message about her famous daughter on her Instagram on Friday. In the screenshot, user @iamkrisiman praised Beyoncé and wrote that “no matter how undeniably talented you are, people will always, ALWAYS, always have some negative ish to say.” Knowles cosigned the post in a lengthy caption. “It is mind-boggling to me that you would take your precious Christmas day and watch a performance of someone you hate and you don’t think has talent so that you can go talk ish about it later,” she wrote. “Obviously you are so obsessed with them, addicted to them, and secretly admire them,” she added. According to the New York Post, Knowles’ post came after some social media users called Beyoncé “overrated.” Fans and celebrities in the comments of Knowles’ response seemed to love her mama bear energy. “Period!!! Ms. T,” singer LeToya Luckett wrote. “All. Of. This!!!!!!” Oscar winner Octavia Spencer added. A post shared by Tina Knowles (@mstinaknowles) Elon Musk appeared to borrow a line from the 2008 film Tropic Thunder in an ongoing social media fight about H1B visas. Musk hit back against MAGA’s top players in a series of X posts, alleging that H1B visas are the reason why he, “and hundreds of other companies that made America strong,” are in the country. To a skeptical X user, Musk blasted: “Take a big step back and F--- YOURSELF in the face. I will go to war on this issue the likes of which you cannot possibly comprehend.” Although some were shocked by Musk’s sudden escalation—with former Trump strategist Steve Bannon calling him a “toddler”—others noticed that the disparaging remark was similar to a line in Tropic Thunder . Character Les Grossman, played by Tom Cruise, says in the film: “First, take a big step back, and literally, F--- YOUR OWN FACE ... I don’t know what kind of pan-pacific bulls--t power play you’re trying to pull here, but Asia, Jack, is my territory. So whatever you’re thinking, you’d better think again.” In response to Musk’s comment, the X user tweeted, “Bro was just memeing. I wouldn’t take it too seriously.” Nothing beats the classics pic.twitter.com/MRSdXifhH5 Scouted selects products independently. If you purchase something from our posts, we may earn a small commission. If you’re looking to revamp your at-home fitness lineup ahead of 2025 and don’t have hours to commit to exercising each day, allow us to introduce you to the CAROL Bike . The science-backed and AI-powered fitness bike is engineered to give you maximum results in the shortest time possible—and by the shortest time, we mean as little as five minutes. In fact, according to the brand, the CAROL bike is “proven to deliver double the health and fitness benefits in 90 percent less time compared to regular cardio.” Free Returns | Free Shipping Not only is it a huge time-saver, but the CAROL Bike is also designed to be personalized to the rider’s individual fitness levels, goals, and preferences, making the workouts easy to follow, time-efficient, and super effective. CAROL’s AI and Reduced Exertion HIIT (REHIT) technology optimizes the workout to your ability and fitness level, so every second matters. The personalized, optimal resistance levels are automatically adjusted as you work out—at exactly the right time—making the most efficient workouts easy to follow. “ CAROL Bike is designed to maximize training efficiency, with the shortest, most effective workouts, backed by science. And new rider-inspired features that give riders more flexibility to exercise their way,” says Ulrich Dempfle, CEO & Co-Founder at CAROL. You can try the CAROL Bike for yourself risk-free for 100 days, and the brand offers free shipping (7-10 business days) in the U.S. Charles Shyer, the writer-director best known for directing the 1991 Steve Martin comedy Father of the Bride has died at 83. According to Deadline, Shyer died Friday and no cause of death was given by his family in a statement. “His loss leaves an unfillable hole in our lives, but his legacy lives on through his children and the five decades of wonderful work he’s left behind. We honor the extraordinary life he led and know there will never be another quite like him,” his family told the outlet. In addition to directing, Shyer gained notoriety for his screenwriting and nabbed an Oscar nomination in 1981 for co-writing the Goldie Hawn-led military comedy Private Benjamin alongside Harvey Miller, and fellow writer-director Nancy Meyers. Meyers and Shyer married in 1980 before calling it quits in 1999. They share two daughters. Other notable films co-written by Shyer include Jumpin’ Jack Flash , The Parent Trap , and Baby Boom , which he also directed. His most recent credit behind the camera was co-writing and directing the 2023 Netflix Holiday film Best. Christmas. Ever. A Norwegian chess champion left mid-tournament after refusing to change his outfit for judges. Magnus Carlsen, a five-time World Chess Champion, was competing in New York’s FIDE World Rapid and Blitz Chess Championships on Friday when he was asked to change. According to The Telegraph , Carlsen was first fined $200 for breaking the wardrobe rule before being told he would have to leave if he didn’t change. “I said, ‘I’ll change tomorrow if that’s OK.’ I didn’t even realize it today, but they said, ‘Well you have to change now.’ At that point it became a bit of a matter of principle for me,” Carlsen told chess outlet Take Take Take in an interview. “Honestly, I am too old at this point to care too much. If this is what they want to do,” he added. As for why he wore the jeans in the first place, Carlsen said he had little time to change before the tournament as he was coming from a meeting. The grandmaster made light of the debacle on X where he tweeted a photo of the now notorious jeans. “OOTD,” he captioned the snap. OOTD pic.twitter.com/9reOP6zuJv Gossip Girl star Chanel Maya Banks , who made headlines last month after denying her family’s claims that she had gone missing, has filed a restraining order against her mother and cousin. The 36-year-old submitted the request in Los Angeles on Thursday, alleging her mom, Lutchmin Judy Kumar, and cousin, Danielle Singh have harassed her, TMZ reported. The actor also claimed that her mother and cousin were working to destroy her credibility. In October, Banks’ family reported her missing. She denied the claims in a post days later. Banks wrote in the restraining order filing that Kumar and Singh broke into her apartment in November while she was gone and attacked her husband. She also alleged that an Apple AirTag was put on her car to track her. After the attack, she alleged that her mother and cousin accused her husband of murder and said that Banks should be in a psychiatric hold. Sources told TMZ that they’re happy she is safe and are “moving on with their lives.” R&B singer Ne-Yo announced Friday that a popular professional boxer under his management has died at age 35. In a joint statement posted by the Grammy-winner and the boxer’s family, Ne-Yo, real name Shaffer Chimere Smith, announced “the passing of beloved son, brother, friend and boxing champion Paul Bamba, whose light and love touched countless lives.” Hailing from Puerto Rico, Bamba became one of the first boxing talents to sign to Ne-Yo’s management company in 2024. Bamba won all of his bouts in 2024 by knock out and recently claimed WBA’s secondary “gold” cruiserweight title after knocking out Rogelio Medina. “He was a fierce yet confident competitor with an unrelenting ambition to achieve greatness. But more than anything, he was a tremendous individual who inspired many with his exceptional drive and determination,” the statement added. Bamba was the No. 12 ranked contender by the WBA and seemed set on fighting in more high profile matches—challenging boxer Jake Paul to “holla at us” in one post. Paul shared his condolences on X, writing, “RIP Paul Bamba.” RIP Paul Bamba https://t.co/ovu7egrGHn Scouted selects products independently. If you purchase something from our posts, we may earn a small commission. 2025 is quickly approaching, and there’s no better way to celebrate the new year than with 2024’s cocktail du jour—the espresso martini. It’s the perfect way to toast 2025 with sophistication, flavor, and an energy boost. Think you can’t make the buzzy beverage at home because you’re not a bartender? Think again. You can create this beloved cocktail effortlessly with just a cocktail shaker, fresh espresso, vodka, coffee beans, and Mr Black Cold Brew Coffee Liqueur . It all starts in the land Down Under—Australia. Mr Black sources its ingredients, including 100 percent specialty-grade Arabica coffee, from local farmers and cooperatives. The liqueur is then slowly brewed with purified cold water to preserve its delicate, complex flavors. The result? A bittersweet masterpiece with bold flavor, balanced sweetness, and a lasting coffee kick. Its rich, coffee-forward taste is a crowd-pleaser, and the sleek bottle design adds a touch of elegance to any bar cart. Making an espresso martini is simple. Combine Mr Black , vodka, and freshly brewed espresso in a shaker. Add ice and shake vigorously until cold. Then, strain the mixture into a martini glass and finish with three coffee beans as a garnish. Skip the champagne toast this year and ensure you stay awake for the countdown to 2025 with a Mr Black espresso martini. Argentine-born British actress Olivia Hussey, known primarily for her role as Juliet in director Franco Zeffirelli’s 1968 film adaptation of William Shakespeare’s Romeo and Juliet , and as final girl Jess Bradford in the 1974 slasher Black Christmas , died Friday. She was 73. Friend and filmmaker Marc Huestis confirmed the news to the San Francisco Chronicle . A post on Hussey’s Instagram profile informed fans: “It is with profound sadness that we announce the passing of Olivia Hussey Eisley, who went peacefully at home surrounded by her loved ones. Olivia was a remarkable person whose warmth, wisdom, and pure kindness touched the lives of all who knew her.” Hussey was born in Buenos Aires to opera singer Andrés Osuna and Joy Hussey, a legal secretary from England. Hussey studied drama at London’s Italia Conti Academy, and was a professional actress by the time she was 13. She was 16 when she starred opposite Leonard Whiting in Romeo and Juliet —roles that earned each a Golden Globe for Most Promising Newcomer. Hussey later appeared in the films Death on the Nile, Virus, and the 1990 horror miniseries It , based on the Stephen King novel. A Democratic Florida state representative announced she is defecting from her party and joining the Republicans because the Democrats are too open to “extreme progressive voices.” Hillary Cassel, who is Jewish, said in a statement on X that she was “increasingly troubled by the Democratic Party’s failure to unequivocally support Israel” in its war with Hamas. “I’m constantly troubled by the inability of the current Democratic Party to relate to everyday Floridians,” she added. “I can no longer remain in a party that doesn’t represent my values. I know I won’t always agree on every detail with every Republican, but I do know that I will always have input, collaboration, and respect.” Cassel first won office in Florida’s 101st district in 2022, beating out her Republican opponent by seven points, according to Ballotpedia. She won re-election two months ago, running unopposed. Earlier this month, another Democrat in Florida’s house, Susan Valdes, announced that she would join the Republicans because she felt “ignored” by her party, according to the Tallahassee Democrat .PLAINS, Ga. (AP) — Newly married and sworn as a Naval officer, Jimmy Carter left his tiny hometown in 1946 hoping to climb the ranks and see the world. Less than a decade later, the death of his father and namesake, a merchant farmer and local politician who went by “Mr. Earl,” prompted the submariner and his wife, Rosalynn, to return to the rural life of Plains, Georgia, they thought they’d escaped. The lieutenant never would be an admiral. Instead, he became commander in chief. Years after his presidency ended in humbling defeat, he would add a Nobel Peace Prize, awarded not for his White House accomplishments but “for his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.” The life of James Earl Carter Jr., the 39th and longest-lived U.S. president, ended Sunday at the age of 100 where it began: Plains, the town of 600 that fueled his political rise, welcomed him after his fall and sustained him during 40 years of service that redefined what it means to be a former president. With the stubborn confidence of an engineer and an optimism rooted in his Baptist faith, Carter described his motivations in politics and beyond in the same way: an almost missionary zeal to solve problems and improve lives. Carter was raised amid racism, abject poverty and hard rural living — realities that shaped both his deliberate politics and emphasis on human rights. “He always felt a responsibility to help people,” said Jill Stuckey, a longtime friend of Carter's in Plains. “And when he couldn’t make change wherever he was, he decided he had to go higher.” Defying expectations Carter's path, a mix of happenstance and calculation , pitted moral imperatives against political pragmatism; and it defied typical labels of American politics, especially caricatures of one-term presidents as failures. “We shouldn’t judge presidents by how popular they are in their day. That's a very narrow way of assessing them," Carter biographer Jonathan Alter told the Associated Press. “We should judge them by how they changed the country and the world for the better. On that score, Jimmy Carter is not in the first rank of American presidents, but he stands up quite well.” Later in life, Carter conceded that many Americans, even those too young to remember his tenure, judged him ineffective for failing to contain inflation or interest rates, end the energy crisis or quickly bring home American hostages in Iran. He gained admirers instead for his work at The Carter Center — advocating globally for public health, human rights and democracy since 1982 — and the decades he and Rosalynn wore hardhats and swung hammers with Habitat for Humanity. Yet the common view that he was better after the Oval Office than in it annoyed Carter, and his allies relished him living long enough to see historians reassess his presidency. “He doesn’t quite fit in today’s terms” of a left-right, red-blue scoreboard, said U.S. Transportation Secretary Pete Buttigieg, who visited the former president multiple times during his own White House bid. At various points in his political career, Carter labeled himself “progressive” or “conservative” — sometimes both at once. His most ambitious health care bill failed — perhaps one of his biggest legislative disappointments — because it didn’t go far enough to suit liberals. Republicans, especially after his 1980 defeat, cast him as a left-wing cartoon. It would be easiest to classify Carter as a centrist, Buttigieg said, “but there’s also something radical about the depth of his commitment to looking after those who are left out of society and out of the economy.” ‘Country come to town’ Indeed, Carter’s legacy is stitched with complexities, contradictions and evolutions — personal and political. The self-styled peacemaker was a war-trained Naval Academy graduate who promised Democratic challenger Ted Kennedy that he’d “kick his ass.” But he campaigned with a call to treat everyone with “respect and compassion and with love.” Carter vowed to restore America’s virtue after the shame of Vietnam and Watergate, and his technocratic, good-government approach didn't suit Republicans who tagged government itself as the problem. It also sometimes put Carter at odds with fellow Democrats. The result still was a notable legislative record, with wins on the environment, education, and mental health care. He dramatically expanded federally protected lands, began deregulating air travel, railroads and trucking, and he put human rights at the center of U.S. foreign policy. As a fiscal hawk, Carter added a relative pittance to the national debt, unlike successors from both parties. Carter nonetheless struggled to make his achievements resonate with the electorate he charmed in 1976. Quoting Bob Dylan and grinning enthusiastically, he had promised voters he would “never tell a lie.” Once in Washington, though, he led like a joyless engineer, insisting his ideas would become reality and he'd be rewarded politically if only he could convince enough people with facts and logic. This served him well at Camp David, where he brokered peace between Israel’s Menachem Begin and Epypt’s Anwar Sadat, an experience that later sparked the idea of The Carter Center in Atlanta. Carter's tenacity helped the center grow to a global force that monitored elections across five continents, enabled his freelance diplomacy and sent public health experts across the developing world. The center’s wins were personal for Carter, who hoped to outlive the last Guinea worm parasite, and nearly did. As president, though, the approach fell short when he urged consumers beleaguered by energy costs to turn down their thermostats. Or when he tried to be the nation’s cheerleader, beseeching Americans to overcome a collective “crisis of confidence.” Republican Ronald Reagan exploited Carter's lecturing tone with a belittling quip in their lone 1980 debate. “There you go again,” the former Hollywood actor said in response to a wonky answer from the sitting president. “The Great Communicator” outpaced Carter in all but six states. Carter later suggested he “tried to do too much, too soon” and mused that he was incompatible with Washington culture: media figures, lobbyists and Georgetown social elites who looked down on the Georgians and their inner circle as “country come to town.” A ‘leader of conscience’ on race and class Carter carefully navigated divides on race and class on his way to the Oval Office. Born Oct. 1, 1924 , Carter was raised in the mostly Black community of Archery, just outside Plains, by a progressive mother and white supremacist father. Their home had no running water or electricity but the future president still grew up with the relative advantages of a locally prominent, land-owning family in a system of Jim Crow segregation. He wrote of President Franklin Roosevelt’s towering presence and his family’s Democratic Party roots, but his father soured on FDR, and Jimmy Carter never campaigned or governed as a New Deal liberal. He offered himself as a small-town peanut farmer with an understated style, carrying his own luggage, bunking with supporters during his first presidential campaign and always using his nickname. And he began his political career in a whites-only Democratic Party. As private citizens, he and Rosalynn supported integration as early as the 1950s and believed it inevitable. Carter refused to join the White Citizens Council in Plains and spoke out in his Baptist church against denying Black people access to worship services. “This is not my house; this is not your house,” he said in a churchwide meeting, reminding fellow parishioners their sanctuary belonged to God. Yet as the appointed chairman of Sumter County schools he never pushed to desegregate, thinking it impractical after the Supreme Court’s 1954 Brown v. Board decision. And while presidential candidate Carter would hail the 1965 Voting Rights Act, signed by fellow Democrat Lyndon Johnson when Carter was a state senator, there is no record of Carter publicly supporting it at the time. Carter overcame a ballot-stuffing opponent to win his legislative seat, then lost the 1966 governor's race to an arch-segregationist. He won four years later by avoiding explicit mentions of race and campaigning to the right of his rival, who he mocked as “Cufflinks Carl” — the insult of an ascendant politician who never saw himself as part the establishment. Carter’s rural and small-town coalition in 1970 would match any victorious Republican electoral map in 2024. Once elected, though, Carter shocked his white conservative supporters — and landed on the cover of Time magazine — by declaring that “the time for racial discrimination is over.” Before making the jump to Washington, Carter befriended the family of slain civil rights leader Martin Luther King Jr., whom he’d never sought out as he eyed the governor’s office. Carter lamented his foot-dragging on school integration as a “mistake.” But he also met, conspicuously, with Alabama's segregationist Gov. George Wallace to accept his primary rival's endorsement ahead of the 1976 Democratic convention. “He very shrewdly took advantage of his own Southerness,” said Amber Roessner, a University of Tennessee professor and expert on Carter’s campaigns. A coalition of Black voters and white moderate Democrats ultimately made Carter the last Democratic presidential nominee to sweep the Deep South. Then, just as he did in Georgia, he used his power in office to appoint more non-whites than all his predecessors had, combined. He once acknowledged “the secret shame” of white Americans who didn’t fight segregation. But he also told Alter that doing more would have sacrificed his political viability – and thus everything he accomplished in office and after. King's daughter, Bernice King, described Carter as wisely “strategic” in winning higher offices to enact change. “He was a leader of conscience,” she said in an interview. Rosalynn was Carter's closest advisor Rosalynn Carter, who died on Nov. 19 at the age of 96, was identified by both husband and wife as the “more political” of the pair; she sat in on Cabinet meetings and urged him to postpone certain priorities, like pressing the Senate to relinquish control of the Panama Canal. “Let that go until the second term,” she would sometimes say. The president, recalled her former aide Kathy Cade, retorted that he was “going to do what’s right” even if “it might cut short the time I have.” Rosalynn held firm, Cade said: “She’d remind him you have to win to govern.” Carter also was the first president to appoint multiple women as Cabinet officers. Yet by his own telling, his career sprouted from chauvinism in the Carters' early marriage: He did not consult Rosalynn when deciding to move back to Plains in 1953 or before launching his state Senate bid a decade later. Many years later, he called it “inconceivable” that he didn’t confer with the woman he described as his “full partner,” at home, in government and at The Carter Center. “We developed a partnership when we were working in the farm supply business, and it continued when Jimmy got involved in politics,” Rosalynn Carter told AP in 2021. So deep was their trust that when Carter remained tethered to the White House in 1980 as 52 Americans were held hostage in Tehran, it was Rosalynn who campaigned on her husband’s behalf. “I just loved it,” she said, despite the bitterness of defeat. Reevaluating his legacy Fair or not, the label of a disastrous presidency had leading Democrats keep their distance, at least publicly, for many years, but Carter managed to remain relevant, writing books and weighing in on societal challenges. He lamented widening wealth gaps and the influence of money in politics. He voted for democratic socialist Bernie Sanders over Hillary Clinton in 2016, and later declared that America had devolved from fully functioning democracy to “oligarchy.” Yet looking ahead to 2020, with Sanders running again, Carter warned Democrats not to “move to a very liberal program,” lest they help re-elect President Donald Trump. Carter scolded the Republican for his serial lies and threats to democracy, and chided the U.S. establishment for misunderstanding Trump’s populist appeal. He delighted in yearly convocations with Emory University freshmen, often asking them to guess how much he’d raised in his two general election campaigns. “Zero,” he’d gesture with a smile, explaining the public financing system candidates now avoid so they can raise billions. Carter still remained quite practical in partnering with wealthy corporations and foundations to advance Carter Center programs. Carter recognized that economic woes and the Iran crisis doomed his presidency, but offered no apologies for appointing Paul Volcker as the Federal Reserve chairman whose interest rate hikes would not curb inflation until Reagan's presidency. He was proud of getting all the hostages home without starting a shooting war, even though Tehran would not free them until Reagan's Inauguration Day. “Carter didn’t look at it” as a failure, Alter emphasized. “He said, ‘They came home safely.’ And that’s what he wanted.” Well into their 90s, the Carters greeted visitors at Plains’ Maranatha Baptist Church, where he taught Sunday School and where he will have his last funeral before being buried on family property alongside Rosalynn . Carter, who made the congregation’s collection plates in his woodworking shop, still garnered headlines there, calling for women’s rights within religious institutions, many of which, he said, “subjugate” women in church and society. Carter was not one to dwell on regrets. “I am at peace with the accomplishments, regret the unrealized goals and utilize my former political position to enhance everything we do,” he wrote around his 90th birthday. Pilgrimages to Plains The politician who had supposedly hated Washington politics also enjoyed hosting Democratic presidential contenders as public pilgrimages to Plains became advantageous again. Carter sat with Buttigieg for the final time March 1, 2020, hours before the Indiana mayor ended his campaign and endorsed eventual winner Joe Biden. “He asked me how I thought the campaign was going,” Buttigieg said, recalling that Carter flashed his signature grin and nodded along as the young candidate, born a year after Carter left office, “put the best face” on the walloping he endured the day before in South Carolina. Never breaking his smile, the 95-year-old host fired back, “I think you ought to drop out.” “So matter of fact,” Buttigieg said with a laugh. “It was somehow encouraging.” Carter had lived enough, won plenty and lost enough to take the long view. “He talked a lot about coming from nowhere,” Buttigieg said, not just to attain the presidency but to leverage “all of the instruments you have in life” and “make the world more peaceful.” In his farewell address as president, Carter said as much to the country that had embraced and rejected him. “The struggle for human rights overrides all differences of color, nation or language,” he declared. “Those who hunger for freedom, who thirst for human dignity and who suffer for the sake of justice — they are the patriots of this cause.” Carter pledged to remain engaged with and for them as he returned “home to the South where I was born and raised,” home to Plains, where that young lieutenant had indeed become “a fellow citizen of the world.” —- Bill Barrow, based in Atlanta, has covered national politics including multiple presidential campaigns for the AP since 2012.
Healthcare technology continues to advance each year, including IoT-assisted wearable sensor devices, AI, and blockchain, as well as improved medical diagnosis . Jeff Elton, CEO at ConcertAI has outlined several expert industry healthtech predictions around SaaS, real-world data and AI in evolving healthcare, precision medicine and clinical trials. AI will enhance life sciences through advanced Digital Twins and AI-designed drugs Elton explains how accuracy will be the turning point of AI, supported by LLMs over ambient AI. In particular, Elton states: “AI regulations in healthcare will be marked by highly differentiated approaches and AI adoption. Oncology-specific AI and LLM systems will work together across the entire lifecycle – from discovery to clinical trials.” With digital twins, Elton provides the advantages: “Twins will simulate early-phase clinical trials and will help identify the most beneficial and likely successful drugs in trials. Fully integrated patient-to-trial matching in provider workflows will cut time and costs for late-stage trials by 30 percent. All of this will lower costs and increase the success rates of pharmaceutical R&D processes.” These different programs will unify discovery, translational, and developmental processes Accuracy will be the turning point of AI, supported by LLMs over ambient AI. There will continue to be an increase in the integration of AI in daily workflows and decision-making as AI increases in accuracy and efficiency, opines Elton. The expert finds: “2025/2026 will see the enormous potential of AI as a ‘decision augmentation’ of expert humans. This will come from context-sensitive solutions, LLMs, that can align other LLMs to collect, analyse, and recommend options to clinical teams that are aligned to that specific decision and the unique characteristics of that patient. This needs to and will happen as there are not enough staff and specialists to provide the needed care.” AI regulations in healthcare will be marked by highly differentiated approaches and AI adoption. Elton believes AI regulation currently encourages responsible innovation and self-regulation, allowing space for new advancements. As examples, Elton provides: “Current Gen 1 solutions, often single-LLM-based, are expected to be short-lived and evolve into multi-model, highly tuned systems with domain-specific models and advanced prompt engineering. Most healthcare AI will be run on data locally, edge deployed, or done within secure, segregated clouds to ensure control, prevent misuse, and protect patient health data.” Elton concludes with: “Lastly, leading AI SaaS solutions will heavily publish performance metrics, certify against model drift, and provide transparent data flow and model disclosures. This would be the equivalent of certifying drug safety and manufacturing standards.” Oncology-specific AI and LLM systems will work together across the entire lifecycle – from discovery to clinical trials . As to the benefits from large language models (LLMs), Elton has formulated: “LLMs specific to oncology will allow for the consideration of Agents as “Interpretation Experts” with performance comparable to the highest-trained humans for 90%+ of patient decisions. There will be a new generation of multi-modal infrastructure with persistent data analysis occurring over the life of the clinical trial. Trial designs, patient matching, data collection, and real-time analysis will have AI enablement throughout the process.” AI2AI programs will unify discovery, translational, and developmental processes. This part of the process is one grounded in the future state. The first translational programs will be simulated at a mass scale and will give way to new scientific and AI-based engineering approaches. According to Elton: “This ensures that the notion of a “funnel” for clinical development is left behind.” Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news.Tim specializes in science, technology, environmental, business, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.Ruben Amorim issues storm warning after smooth start with Manchester UnitedManchester City caught a stray dig from Amazon Prime commentator Jon Champion on Boxing Day. The Premier League holders dropped yet more points with a 1-1 draw at home to Everton in the day's early kick-off. And Liverpool streaked further into the distance with a 3-1 win over Leicester City at Anfield in the day's late game. The Foxes have had a tough time of it lately, sacking Steve Cooper when they were outside the relegation zone and slipping into it since appointing Ruud van Nistelrooy. Normally, a home clash with City would be written off as an almost certain defeat. But Champion needled Pep Guardiola 's side by pointing out, with the final words of his Liverpool coverage, that they may be the perfect opponents for Leicester to end their three-game losing run. "They have work to do and their next game," he said. "Well, maybe it offers hope to them... it's Manchester City ." The Blues won their fourth consecutive league title last season and they were firmly in the title hunt during the opening weeks of the current campaign. But their fall from grace over the past two months has been spectacular. City had the lead against Everton thanks to Bernardo Silva's deflected first-half strike, before an exceptional Iliman Ndiaye finish drew the visitors level. Erling Haaland had a penalty to win it at the Etihad Stadium, but he placed his effort too close to Jordan Pickford, leaving Guardiola's men with one win in their last 13 games. They have also lost a staggering nine matches on that run, including heavy defeats against Tottenham and Sporting. Many feel that City are now out of the title race, with a 14-point gap between themselves and Liverpool , who have a game in hand. Guardiola has substantial credit in the bank thanks to his plethora of titles since landing in Manchester. And the former Barcelona boss has suggested that even Champions League qualification could be a bridge too far for his floundering players. "When I said before, people laughed," said Guardiola. "They said, 'qualifying for the Champions League is not a big success'. But I know it because it happens with clubs in this country. They were dominant for many years and after they were many years not qualifying for the Champions League. "The one team that has been in the Champions League for the past years has been Manchester City . Now we are at risk. Of course we are. Definitely." MORE TO FOLLOW We'll be bringing you the very latest updates, pictures and video on this breaking news story. For the latest news and breaking news visit: express.co.uk/sport/football . Stay up to date with all the big headlines, pictures, analysis, opinion and video on the stories that matter to you. Follow us on Twitter @dexpress_sport - the official Daily Express & Express.co.uk Twitter account - providing real news in real time. We're also on Facebook @dailyexpresssport - offering your must-see news, features, videos and pictures throughout the day to like, comment and share from the Daily Express, Sunday Express and Express.co.uk .
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec 9, 2024-- Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern business, today announced financial results for its fiscal third quarter ended October 31, 2024. Third Quarter Fiscal 2025 Financial Results: Revenue: Subscription revenue was $105.3 million, an increase of 7% year-over-year. Total revenue was $116.9 million, an increase of 6% year-over-year. GAAP Loss from Operations: GAAP loss from operations was $11.7 million, compared to a loss from operations of $8.8 million in the third quarter of fiscal 2024. Non-GAAP Income from Operations: Non-GAAP income from operations was $25.1 million, compared to non-GAAP income from operations of $16.0 million in the third quarter of fiscal 2024. GAAP Net Loss: GAAP net loss was $32.2 million, or 28% of revenue, compared to a net loss of $5.5 million, or 5% of revenue, in the third quarter of fiscal 2024. GAAP net loss per share was $0.21 based on 152.3 million weighted-average shares outstanding, compared to a net loss per share of $0.04 based on 141.5 million weighted-average shares outstanding in the third quarter of fiscal 2024. The GAAP net loss reflects increased costs associated with our proposed acquisition, including a debt redemption liability of $20.2 million as of October 31, 2024 associated with our obligation to repurchase a portion of our 2029 Notes pursuant to our proposed acquisition, and $9.8 million of legal, consulting, and other transaction related costs. Refer below for further information on the proposed acquisition. Non-GAAP Net Income: Non-GAAP net income was $24.8 million, compared to non-GAAP net income of $12.3 million in the third quarter of fiscal 2024. Non-GAAP net income per share was $0.16 based on 152.3 million weighted-average shares outstanding, compared to non-GAAP net income per share of $0.09 based on 141.5 million weighted-average shares outstanding in the third quarter of fiscal 2024. Cash Flow: Net cash provided by operating activities was $22.4 million, compared to net cash used in operating activities of $55.7 million in the third quarter of fiscal 2024. Adjusted Free Cash Flow: Adjusted free cash flow was $25.5 million compared to $12.7 million in the third quarter of fiscal 2024. Cash and Investments: Cash and cash equivalents and short-term investments were $558.5 million as of October 31, 2024. Descriptions of our non-GAAP financial measures are contained in the section titled "Explanation of Non-GAAP Financial Measures" below and reconciliations of GAAP and non-GAAP financial measures are contained in the tables below. Proposed Acquisition; Conference Call and Guidance On October 17, 2024, we announced that Zuora entered into a definitive agreement to be acquired by Silver Lake, the global leader in technology investing, in partnership with an affiliate of GIC Pte. Ltd. (“GIC”). The transaction is valued at $1.7 billion, with Silver Lake and GIC to acquire all outstanding shares of Zuora common stock for $10.00 per share in cash. The acquisition is expected to close in the first calendar quarter of 2024, subject to customary closing conditions and approvals, including the receipt of the required regulatory approvals. Upon completion of the transaction, Zuora will become a privately held company. Given the proposed acquisition of Zuora, we will not be holding a conference call or live webcast to discuss Zuora's third quarter of fiscal 2025 financial results, we will not be providing any forward looking guidance, and we are withdrawing all previously provided goals, outlook, and guidance. Key Operational and Financial Metrics: Customers with annual contract value (ACV) equal to or greater than $250,000 were 451, compared to 453 as of October 31, 2023. Dollar-based retention rate (DBRR) was 103%, compared to 108% as of October 31, 2023. Annual recurring revenue (ARR) was $419.9 million compared to $396.0 million as of October 31, 2023, representing ARR growth of 6%. Explanation of Key Operational and Financial Metrics: Annual Contract Value (ACV) . We define ACV as the subscription revenue we would contractually expect to recognize from a customer over the next twelve months, assuming no increases or reductions in their subscriptions. We define the number of customers at the end of any particular period as the number of parties or organizations that have entered into a distinct subscription contract with us and for which the term has not ended. Each party with whom we have entered into a distinct subscription contract is considered a unique customer, and in some cases, there may be more than one customer within a single organization. Dollar-based Retention Rate (DBRR) . We calculate DBRR as of a period end by starting with the sum of the ACV from all customers as of twelve months prior to such period end, or prior period ACV. We then calculate the sum of the ACV from these same customers as of the current period end, or current period ACV. Current period ACV includes any upsells and also reflects contraction or attrition over the trailing twelve months but excludes revenue from new customers added in the current period. We then divide the current period ACV by the prior period ACV to arrive at our dollar-based retention rate. Annual Recurring Revenue (ARR). ARR represents the annualized recurring value at the time of initial booking or contract modification for all active subscription contracts at the end of a reporting period. ARR excludes the value of non-recurring revenue such as professional services revenue as well as contracts with new customers with a term of less than one year. ARR 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. ARR growth is calculated by dividing the ARR as of a period end by the ARR for the corresponding period end of the prior fiscal year. Explanation of Non-GAAP Financial Measures: In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release and the accompanying tables contain non-GAAP financial measures including: non-GAAP cost of subscription revenue; non-GAAP subscription gross margin; non-GAAP cost of professional services revenue; non-GAAP professional services gross margin; non-GAAP gross profit; non-GAAP gross margin; non-GAAP income from operations; non-GAAP operating margin; non-GAAP net income; non-GAAP net income per share; and adjusted free cash flow. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. We use non-GAAP financial measures in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our Board of Directors concerning our financial performance. We believe these non-GAAP measures provide investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of our operating results. We also believe these non-GAAP measures are useful in evaluating our operating performance compared to that of other companies in our industry, as they generally eliminate the effects of certain items that may vary for different companies for reasons unrelated to overall operating performance. We exclude the following items from one or more of our non-GAAP financial measures: Stock-based compensation expense . We exclude stock-based compensation expense, which is a non-cash expense, because we believe that excluding this item provides meaningful supplemental information regarding operational performance. In particular, stock-based compensation expense is not comparable across companies given it is calculated using a variety of valuation methodologies and subjective assumptions. Amortization of acquired intangible assets . We exclude amortization of acquired intangible assets, which is a non-cash expense, because we do not believe it has a direct correlation to the operation of our business. Charitable contributions. We exclude expenses associated with charitable donations of our common stock. We believe that excluding these non-cash expenses allows investors to make more meaningful comparisons between our operating results and those of other companies. Shareholder matters . We exclude non-recurring charges and benefits, net of insurance recoveries, including litigation expenses, settlements and other legal, consulting and advisory fees, related to shareholder matters that are outside of the ordinary course of our business, including expenses related to a cooperation agreement. We believe these charges and benefits do not have a direct correlation to the operations of our business and may vary in size depending on the timing, results and resolution of such litigation, settlements, agreements or other shareholder matters. Asset impairment . We exclude non-cash charges for impairment of assets, including impairments related to internal-use software, office leases, and acquired intangible assets. Impairment charges can vary significantly in terms of amount and timing and we do not consider these charges indicative of our current or past operating performance. Moreover, we believe that excluding the effects of these charges allows investors to make more meaningful comparisons between our operating results and those of other companies. Change in fair value of debt derivative and warrant liabilities. We exclude fair value adjustments related to the debt derivative and warrant liabilities, which are non-cash gains or losses, as they can fluctuate significantly with changes in Zuora's stock price and market volatility, and do not reflect the underlying cash flows or operational results of the business. Acquisition-related expenses . We exclude acquisition-related expenses (including integration-related charges) that are not related to our ongoing operations. These expenses include gains or losses recognized on contingent consideration related to acquisitions, including costs associated with our proposed acquisition. We do not consider these transaction expenses as reflective of our core business or ongoing operating performance. Workforce reductions . We exclude charges related to workforce reduction plans, including severance, health care and related expenses. We believe these charges are not indicative of our continuing operations. Additionally, we disclose "adjusted free cash flow", which is a non-GAAP measure that includes adjustments to operating cash flows for cash impacts related to Shareholder matters and Acquisition-related expenses described above, and net purchases of property and equipment. We include the impact of net purchases of property and equipment in our adjusted free cash flow calculation because we consider these capital expenditures to be a necessary component of our ongoing operations. We believe this measure is meaningful to investors because management reviews cash flows generated from operations excluding such expenditures that are not related to our ongoing operations. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. The non-GAAP measures we use may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures. Forward-Looking Statements: This press release contains forward-looking statements that involve a number of risks and uncertainties. Words such as “believes,” “may,” “will,” “determine,” “estimates,” “potential,” “continues,” “anticipates,” “intends,” “expects,” “could,” “would,” “projects,” “plans,” “targets,” “strategy,” “likely,” and variations of such words and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this release include statements regarding the proposed acquisition of Zuora, including the expected timing of the closing of the acquisition, and expectations for Zuora following the completion of the acquisition. Forward-looking statements are based on management's expectations as of the date of this filing and are subject to a number of risks, uncertainties and assumptions, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our Form 10-Q filed with the Securities and Exchange Commission on August 29, 2024 as well as other documents that may be filed by us from time to time with the Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2024. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the possibility that the closing conditions to the proposed acquisition are not satisfied (or waived), including the risk that required approvals from Zuora’s stockholders for the proposed acquisition or required regulatory approvals to consummate the acquisition are not obtained in a timely manner (or at all); the outcome of the current complaint and any potential litigation relating to the proposed acquisition; uncertainties as to the timing of the consummation of the proposed acquisition; the ability of each party to consummate the proposed acquisition; our ability to attract new customers and retain and expand sales to existing customers; our ability to manage our future revenue and profitability plans effectively; adoption of monetization platform software and related solutions, as well as consumer adoption of products and services that are provided through such solutions; our ability to develop and release new products and services, or successful enhancements, new features and modifications; challenges related to growing our relationships with strategic partners; loss of key employees; our ability to compete in our markets; adverse impacts on our business and financial condition due to macroeconomic or market conditions; the impact of actions to improve operational efficiencies and operating costs; our history of net losses and ability to achieve or sustain profitability; market acceptance of our products; the success of our product development efforts; risks associated with currency exchange rate fluctuations; risks associated with our debt obligations; successful deployment of our solutions by customers after entering into a subscription agreement with us; the success of our sales and product initiatives; our security measures; our ability to adequately protect our intellectual property; interruptions or performance problems; litigation and other shareholder related costs; the anticipated benefits of acquisitions and ability to integrate operations and technology of any acquired company; geopolitical conflicts or destabilizing events; other business effects, including those related to industry, market, economic, political, regulatory and global health conditions and other risks and uncertainties. The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. Important Information and Where to Find It In connection with the proposed acquisition, Zuora has filed with the Securities and Exchange Commission (the “SEC”) a proxy statement in preliminary form on November 25, 2024, a definitive version of which will be mailed or otherwise provided to its stockholders. The Company and affiliates of the Company have jointly filed a transaction statement on Schedule 13E-3 (the Schedule 13E-3). Zuora may also file other documents with the SEC regarding the potential transaction. BEFORE MAKING ANY VOTING DECISION, ZUORA’S STOCKHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT AND THE SCHEDULE 13E-3 IN THEIR ENTIRETY AND ANY OTHER DOCUMENTS FILED WITH THE SEC AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS THERETO IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the proxy statement, the Schedule 13E-3 and other documents that Zuora files with the SEC from the SEC’s website at www.sec.gov and Zuora’s website at investor.zuora.com . In addition, the proxy statement, the Schedule 13E-3 and other documents filed by Zuora with the SEC (when available) may be obtained from Zuora free of charge by directing a request to Zuora’s Investor Relations at investorrelations@zuora.com . Participants in the Solicitation Zuora and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from Zuora’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed to be participants in the solicitation of the stockholders of Zuora in connection with the proposed transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise will be set forth in the proxy statement and Schedule 13E-3 and other materials to be filed with the SEC. You may also find additional information about Zuora’s directors and executive officers in Zuora’s proxy statement for its 2024 Annual Meeting of Stockholders, which was filed with the SEC on May 16, 2024 (the “Annual Meeting Proxy Statement”). To the extent holdings of securities by potential participants (or the identity of such participants) have changed since the information printed in the Annual Meeting Proxy Statement, such information has been or will be reflected in Zuora’s Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You can obtain free copies of these documents from Zuora using the contact information above. About Zuora, Inc. Zuora provides a leading monetization suite to build, run and grow a modern business through a dynamic mix of usage-based models, subscription bundles and everything in between. From pricing and packaging, to billing, payments and revenue accounting, Zuora’s flexible, modular software platform is designed to help companies evolve monetization strategies with customer demand. More than 1,000 customers around the world, including BMC Software, Box, Caterpillar, General Motors, The New York Times, Schneider Electric and Zoom use Zuora’s leading combination of technology and expertise to turn recurring relationships and recurring revenue into recurring growth. Zuora is headquartered in Silicon Valley with offices in the Americas, EMEA and APAC. To learn more, please visit zuora.com . © 2024 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, Subscription Economy Index, Zephr, and Subscription Experience Platform are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Zuora, Inc. or any aspect of this press release. SOURCE: ZUORA, INC. ZUORA, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in thousands, except per share data) (unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Revenue: Subscription $ 105,253 $ 98,048 $ 308,263 $ 283,232 Professional services 11,676 11,801 33,831 37,760 Total revenue 116,929 109,849 342,094 320,992 Cost of revenue: Subscription 1 23,954 20,378 67,207 62,304 Professional services 1 14,383 14,650 43,483 47,851 Total cost of revenue 38,337 35,028 110,690 110,155 Gross profit 78,592 74,821 231,404 210,837 Operating expenses: Research and development 1 26,833 27,504 76,853 79,428 Sales and marketing 1 36,597 40,245 108,579 124,488 General and administrative 1 26,880 15,893 71,351 54,160 Total operating expenses 90,310 83,642 256,783 258,076 Loss from operations (11,718 ) (8,821 ) (25,379 ) (47,239 ) Change in fair value of debt derivative and warrant liabilities (20,174 ) 6,997 (29,115 ) 2,241 Interest expense (7,045 ) (5,610 ) (20,781 ) (14,604 ) Interest and other income (expense), net 6,505 2,272 19,988 13,639 Loss before income taxes (32,432 ) (5,162 ) (55,287 ) (45,963 ) Income tax (benefit) provision (226 ) 340 (2,152 ) 1,396 Net loss (32,206 ) (5,502 ) (53,135 ) (47,359 ) Comprehensive loss: Foreign currency translation adjustment 462 (696 ) 386 (1,383 ) Unrealized gain (loss) on available-for-sale securities 248 (18 ) 63 494 Comprehensive loss $ (31,496 ) $ (6,216 ) $ (52,686 ) $ (48,248 ) Net loss per share, basic and diluted $ (0.21 ) $ (0.04 ) $ (0.36 ) $ (0.34 ) Weighted-average shares outstanding used in calculating net loss per share, basic and diluted 152,263 141,488 149,457 138,789 (1) Stock-based compensation expense was recorded in the following cost and expense categories: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cost of subscription revenue $ 2,331 $ 2,350 $ 6,291 $ 6,889 Cost of professional services revenue 2,598 2,747 7,359 8,997 Research and development 7,697 7,165 21,680 20,661 Sales and marketing 7,613 8,191 20,609 24,857 General and administrative 4,694 5,648 13,163 16,569 Total stock-based compensation expense $ 24,933 $ 26,101 $ 69,102 $ 77,973 ZUORA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) October 31, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 277,615 $ 256,065 Short-term investments 280,909 258,120 Accounts receivable, net 82,414 124,602 Deferred commissions, current portion 15,995 15,870 Prepaid expenses and other current assets 25,183 23,261 Total current assets 682,116 677,918 Property and equipment, net 27,403 25,961 Operating lease right-of-use assets 20,591 22,462 Purchased intangibles, net 23,146 10,082 Deferred commissions, net of current portion 24,941 27,250 Goodwill 73,903 56,657 Other assets 4,972 3,506 Total assets $ 857,072 $ 823,836 Liabilities and stockholders’ equity Current liabilities: Accounts payable $ 761 $ 3,161 Accrued expenses and other current liabilities 45,167 32,157 Accrued employee liabilities 29,860 37,722 Deferred revenue, current portion 177,436 199,615 Operating lease liabilities, current portion 7,030 6,760 Total current liabilities 260,254 279,415 Long-term debt 368,348 359,525 Deferred revenue, net of current portion 860 2,802 Operating lease liabilities, net of current portion 32,573 37,100 Deferred tax liabilities 4,066 3,725 Other long-term liabilities 6,781 7,582 Total liabilities 672,882 690,149 Stockholders’ equity: Class A common stock 15 14 Class B common stock 1 1 Additional paid-in capital 1,067,329 964,141 Accumulated other comprehensive loss (410 ) (859 ) Accumulated deficit (882,745 ) (829,610 ) Total stockholders’ equity 184,190 133,687 Total liabilities and stockholders’ equity $ 857,072 $ 823,836 ZUORA, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Nine Months Ended October 31, 2024 2023 Cash flows from operating activities: Net loss $ (53,135 ) $ (47,359 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation, amortization and accretion 14,715 13,684 Stock-based compensation 69,102 77,973 Provision for credit losses 2,117 457 Amortization of deferred commissions 13,946 14,415 Reduction in carrying amount of right-of-use assets 3,470 4,876 Change in fair value of debt derivative and warrant liabilities 29,115 (2,241 ) Other (2,418 ) 2,630 Changes in operating assets and liabilities: Accounts receivable 40,149 12,476 Prepaid expenses and other assets (2,657 ) 878 Deferred commissions (12,107 ) (12,013 ) Accounts payable (2,529 ) (634 ) Accrued expenses and other liabilities 6,843 (82,904 ) Accrued employee liabilities (7,986 ) 509 Deferred revenue (24,439 ) (7,461 ) Operating lease liabilities (7,476 ) (10,962 ) Net cash provided by (used in) operating activities 66,710 (35,676 ) Cash flows from investing activities: Purchases of property and equipment (9,252 ) (6,913 ) Purchases of short-term investments (240,093 ) (66,665 ) Maturities of short-term investments 222,279 175,128 Cash paid for acquisition, net of cash acquired (24,786 ) (4,524 ) Net cash (used in) provided by investing activities (51,852 ) 97,026 Cash flows from financing activities: Proceeds from issuance of common stock upon exercise of stock options 3,372 1,000 Proceeds from issuance of common stock under employee stock purchase plan 4,481 4,765 Payment for taxes related to net share settlement of stock options (1,547 ) — Proceeds from issuance of convertible senior notes, net of issuance costs — 145,861 Net cash provided by financing activities 6,306 151,626 Effect of exchange rates on cash and cash equivalents 386 (1,383 ) Net increase in cash and cash equivalents 21,550 211,593 Cash and cash equivalents, beginning of period 256,065 203,239 Cash and cash equivalents, end of period $ 277,615 $ 414,832 ZUORA, INC. RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (in thousands, except percentages) (unaudited) Subscription Gross Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of cost of subscription revenue: GAAP cost of subscription revenue $ 23,954 $ 20,378 $ 67,207 $ 62,304 Less: Stock-based compensation (2,331 ) (2,350 ) (6,291 ) (6,889 ) Amortization of acquired intangibles (1,164 ) (607 ) (2,706 ) (2,083 ) Workforce reductions (228 ) — (796 ) (38 ) Acquisition-related expenses (12 ) — (103 ) — Asset impairment — (439 ) — (439 ) Shareholder matters — — (20 ) — Non-GAAP cost of subscription revenue $ 20,219 $ 16,982 $ 57,291 $ 52,855 GAAP subscription gross margin 77 % 79 % 78 % 78 % Non-GAAP subscription gross margin 81 % 83 % 81 % 81 % Professional Services Gross Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of cost of professional services revenue: GAAP cost of professional services revenue $ 14,383 $ 14,650 $ 43,483 $ 47,851 Less: Stock-based compensation (2,598 ) (2,747 ) (7,359 ) (8,997 ) Acquisition-related expenses (22 ) — (22 ) — Shareholder matters — — (28 ) — Workforce reductions — — (5 ) (46 ) Non-GAAP cost of professional services revenue $ 11,763 $ 11,903 $ 36,069 $ 38,808 GAAP professional services gross margin (23 )% (24 )% (29 )% (27 )% Non-GAAP professional services gross margin (1 )% (1 )% (7 )% (3 )% ZUORA, INC. RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (CONTINUED) (in thousands, except percentages) (unaudited) Total Gross Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of gross profit: GAAP gross profit $ 78,592 $ 74,821 $ 231,404 $ 210,837 Add: Stock-based compensation 4,929 5,097 13,650 15,886 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 228 — 801 84 Acquisition-related expenses 34 — 125 — Asset impairment — 439 — 439 Shareholder matters — — 48 — Non-GAAP gross profit $ 84,947 $ 80,964 $ 248,734 $ 229,329 GAAP gross margin 67 % 68 % 68 % 66 % Non-GAAP gross margin 73 % 74 % 73 % 71 % Operating (Loss) Income and Operating Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of (loss) income from operations: GAAP loss from operations $ (11,718 ) $ (8,821 ) $ (25,379 ) $ (47,239 ) Add: Stock-based compensation 24,933 26,101 69,102 77,973 Acquisition-related expenses 10,299 19 17,100 211 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 241 — 1,518 265 Shareholder matters 181 (3,508 ) 4,240 (3,265 ) Asset impairment — 1,592 — 1,592 Non-GAAP income from operations $ 25,100 $ 15,990 $ 69,287 $ 31,620 GAAP operating margin (10 )% (8 )% (7 )% (15 )% Non-GAAP operating margin 21 % 15 % 20 % 10 % ZUORA, INC. RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (CONTINUED) (in thousands, except per share data) (unaudited) Net (Loss) Income and Net (Loss) Income Per Share Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of net (loss) income: GAAP net loss $ (32,206 ) $ (5,502 ) $ (53,135 ) $ (47,359 ) Add: Stock-based compensation 24,933 26,101 69,102 77,973 Change in fair value of debt derivative and warrant liabilities 20,174 (6,997 ) 29,115 (2,241 ) Acquisition-related expenses 10,299 19 17,100 211 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 241 — 1,518 265 Shareholder matters 181 (3,508 ) 4,240 (3,265 ) Asset impairment — 1,592 — 1,592 Non-GAAP net income $ 24,786 $ 12,312 $ 70,646 $ 29,259 GAAP net loss per share, basic and diluted 1 $ (0.21 ) $ (0.04 ) $ (0.36 ) $ (0.34 ) Non-GAAP net income per share, basic and diluted 1 $ 0.16 $ 0.09 $ 0.47 $ 0.21 (1) For the three months ended October 31, 2024 and 2023, GAAP and Non-GAAP net (loss) income per share are calculated based upon 152.3 million and 141.5 million basic and diluted weighted-average shares of common stock, respectively. For the nine months ended October 31, 2024 and 2023, GAAP and Non-GAAP net (loss) income per share are calculated based upon 149.5 million and 138.8 million basic and diluted weighted-average shares of common stock, respectively. Adjusted Free Cash Flow Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of adjusted free cash flow: Net cash provided by (used in) operating activities (GAAP) $ 22,408 $ (55,657 ) $ 66,710 $ (35,676 ) Add: Acquisition-related expenses 5,587 28 7,300 135 Shareholder matters 824 71,377 4,379 72,130 Less: Purchases of property and equipment (3,330 ) (3,075 ) (9,252 ) (6,913 ) Adjusted free cash flow (non-GAAP) $ 25,489 $ 12,673 $ 69,137 $ 29,676 Net cash provided by (used in) investing activities (GAAP) $ 18,999 $ 2,005 $ (51,852 ) $ 97,026 Net cash (used in) provided by financing activities (GAAP) $ (1,295 ) $ 145,899 $ 6,306 $ 151,626 View source version on businesswire.com : https://www.businesswire.com/news/home/20241209614914/en/ CONTACT: Investor Relations Contact: Luana Wolk investorrelations@zuora.com 650-419-1377Media Relations Contact: Margaret Juhnke press@zuora.com 619-609-3919 KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE PAYMENTS ACCOUNTING PROFESSIONAL SERVICES TECHNOLOGY ELECTRONIC COMMERCE FINTECH OTHER TECHNOLOGY SOURCE: Zuora, Inc. Copyright Business Wire 2024. PUB: 12/09/2024 04:10 PM/DISC: 12/09/2024 04:08 PM http://www.businesswire.com/news/home/20241209614914/en
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By BILL BARROW, Associated Press PLAINS, Ga. (AP) — Newly married and sworn as a Naval officer, Jimmy Carter left his tiny hometown in 1946 hoping to climb the ranks and see the world. Less than a decade later, the death of his father and namesake, a merchant farmer and local politician who went by “Mr. Earl,” prompted the submariner and his wife, Rosalynn, to return to the rural life of Plains, Georgia, they thought they’d escaped. The lieutenant never would be an admiral. Instead, he became commander in chief. Years after his presidency ended in humbling defeat, he would add a Nobel Peace Prize, awarded not for his White House accomplishments but “for his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.” The life of James Earl Carter Jr., the 39th and longest-lived U.S. president, ended Sunday at the age of 100 where it began: Plains, the town of 600 that fueled his political rise, welcomed him after his fall and sustained him during 40 years of service that redefined what it means to be a former president. With the stubborn confidence of an engineer and an optimism rooted in his Baptist faith, Carter described his motivations in politics and beyond in the same way: an almost missionary zeal to solve problems and improve lives. Carter was raised amid racism, abject poverty and hard rural living — realities that shaped both his deliberate politics and emphasis on human rights. “He always felt a responsibility to help people,” said Jill Stuckey, a longtime friend of Carter’s in Plains. “And when he couldn’t make change wherever he was, he decided he had to go higher.” Carter’s path, a mix of happenstance and calculation , pitted moral imperatives against political pragmatism; and it defied typical labels of American politics, especially caricatures of one-term presidents as failures. “We shouldn’t judge presidents by how popular they are in their day. That’s a very narrow way of assessing them,” Carter biographer Jonathan Alter told the Associated Press. “We should judge them by how they changed the country and the world for the better. On that score, Jimmy Carter is not in the first rank of American presidents, but he stands up quite well.” Later in life, Carter conceded that many Americans, even those too young to remember his tenure, judged him ineffective for failing to contain inflation or interest rates, end the energy crisis or quickly bring home American hostages in Iran. He gained admirers instead for his work at The Carter Center — advocating globally for public health, human rights and democracy since 1982 — and the decades he and Rosalynn wore hardhats and swung hammers with Habitat for Humanity. Yet the common view that he was better after the Oval Office than in it annoyed Carter, and his allies relished him living long enough to see historians reassess his presidency. “He doesn’t quite fit in today’s terms” of a left-right, red-blue scoreboard, said U.S. Transportation Secretary Pete Buttigieg, who visited the former president multiple times during his own White House bid. At various points in his political career, Carter labeled himself “progressive” or “conservative” — sometimes both at once. His most ambitious health care bill failed — perhaps one of his biggest legislative disappointments — because it didn’t go far enough to suit liberals. Republicans, especially after his 1980 defeat, cast him as a left-wing cartoon. It would be easiest to classify Carter as a centrist, Buttigieg said, “but there’s also something radical about the depth of his commitment to looking after those who are left out of society and out of the economy.” Indeed, Carter’s legacy is stitched with complexities, contradictions and evolutions — personal and political. The self-styled peacemaker was a war-trained Naval Academy graduate who promised Democratic challenger Ted Kennedy that he’d “kick his ass.” But he campaigned with a call to treat everyone with “respect and compassion and with love.” Carter vowed to restore America’s virtue after the shame of Vietnam and Watergate, and his technocratic, good-government approach didn’t suit Republicans who tagged government itself as the problem. It also sometimes put Carter at odds with fellow Democrats. The result still was a notable legislative record, with wins on the environment, education, and mental health care. He dramatically expanded federally protected lands, began deregulating air travel, railroads and trucking, and he put human rights at the center of U.S. foreign policy. As a fiscal hawk, Carter added a relative pittance to the national debt, unlike successors from both parties. Carter nonetheless struggled to make his achievements resonate with the electorate he charmed in 1976. Quoting Bob Dylan and grinning enthusiastically, he had promised voters he would “never tell a lie.” Once in Washington, though, he led like a joyless engineer, insisting his ideas would become reality and he’d be rewarded politically if only he could convince enough people with facts and logic. This served him well at Camp David, where he brokered peace between Israel’s Menachem Begin and Epypt’s Anwar Sadat, an experience that later sparked the idea of The Carter Center in Atlanta. Carter’s tenacity helped the center grow to a global force that monitored elections across five continents, enabled his freelance diplomacy and sent public health experts across the developing world. The center’s wins were personal for Carter, who hoped to outlive the last Guinea worm parasite, and nearly did. As president, though, the approach fell short when he urged consumers beleaguered by energy costs to turn down their thermostats. Or when he tried to be the nation’s cheerleader, beseeching Americans to overcome a collective “crisis of confidence.” Republican Ronald Reagan exploited Carter’s lecturing tone with a belittling quip in their lone 1980 debate. “There you go again,” the former Hollywood actor said in response to a wonky answer from the sitting president. “The Great Communicator” outpaced Carter in all but six states. Carter later suggested he “tried to do too much, too soon” and mused that he was incompatible with Washington culture: media figures, lobbyists and Georgetown social elites who looked down on the Georgians and their inner circle as “country come to town.” Carter carefully navigated divides on race and class on his way to the Oval Office. Born Oct. 1, 1924 , Carter was raised in the mostly Black community of Archery, just outside Plains, by a progressive mother and white supremacist father. Their home had no running water or electricity but the future president still grew up with the relative advantages of a locally prominent, land-owning family in a system of Jim Crow segregation. He wrote of President Franklin Roosevelt’s towering presence and his family’s Democratic Party roots, but his father soured on FDR, and Jimmy Carter never campaigned or governed as a New Deal liberal. He offered himself as a small-town peanut farmer with an understated style, carrying his own luggage, bunking with supporters during his first presidential campaign and always using his nickname. And he began his political career in a whites-only Democratic Party. As private citizens, he and Rosalynn supported integration as early as the 1950s and believed it inevitable. Carter refused to join the White Citizens Council in Plains and spoke out in his Baptist church against denying Black people access to worship services. “This is not my house; this is not your house,” he said in a churchwide meeting, reminding fellow parishioners their sanctuary belonged to God. Yet as the appointed chairman of Sumter County schools he never pushed to desegregate, thinking it impractical after the Supreme Court’s 1954 Brown v. Board decision. And while presidential candidate Carter would hail the 1965 Voting Rights Act, signed by fellow Democrat Lyndon Johnson when Carter was a state senator, there is no record of Carter publicly supporting it at the time. Carter overcame a ballot-stuffing opponent to win his legislative seat, then lost the 1966 governor’s race to an arch-segregationist. He won four years later by avoiding explicit mentions of race and campaigning to the right of his rival, who he mocked as “Cufflinks Carl” — the insult of an ascendant politician who never saw himself as part the establishment. Carter’s rural and small-town coalition in 1970 would match any victorious Republican electoral map in 2024. Once elected, though, Carter shocked his white conservative supporters — and landed on the cover of Time magazine — by declaring that “the time for racial discrimination is over.” Before making the jump to Washington, Carter befriended the family of slain civil rights leader Martin Luther King Jr., whom he’d never sought out as he eyed the governor’s office. Carter lamented his foot-dragging on school integration as a “mistake.” But he also met, conspicuously, with Alabama’s segregationist Gov. George Wallace to accept his primary rival’s endorsement ahead of the 1976 Democratic convention. “He very shrewdly took advantage of his own Southerness,” said Amber Roessner, a University of Tennessee professor and expert on Carter’s campaigns. A coalition of Black voters and white moderate Democrats ultimately made Carter the last Democratic presidential nominee to sweep the Deep South. Then, just as he did in Georgia, he used his power in office to appoint more non-whites than all his predecessors had, combined. He once acknowledged “the secret shame” of white Americans who didn’t fight segregation. But he also told Alter that doing more would have sacrificed his political viability – and thus everything he accomplished in office and after. King’s daughter, Bernice King, described Carter as wisely “strategic” in winning higher offices to enact change. “He was a leader of conscience,” she said in an interview. Rosalynn Carter, who died on Nov. 19 at the age of 96, was identified by both husband and wife as the “more political” of the pair; she sat in on Cabinet meetings and urged him to postpone certain priorities, like pressing the Senate to relinquish control of the Panama Canal. “Let that go until the second term,” she would sometimes say. The president, recalled her former aide Kathy Cade, retorted that he was “going to do what’s right” even if “it might cut short the time I have.” Rosalynn held firm, Cade said: “She’d remind him you have to win to govern.” Carter also was the first president to appoint multiple women as Cabinet officers. Yet by his own telling, his career sprouted from chauvinism in the Carters’ early marriage: He did not consult Rosalynn when deciding to move back to Plains in 1953 or before launching his state Senate bid a decade later. Many years later, he called it “inconceivable” that he didn’t confer with the woman he described as his “full partner,” at home, in government and at The Carter Center. “We developed a partnership when we were working in the farm supply business, and it continued when Jimmy got involved in politics,” Rosalynn Carter told AP in 2021. So deep was their trust that when Carter remained tethered to the White House in 1980 as 52 Americans were held hostage in Tehran, it was Rosalynn who campaigned on her husband’s behalf. “I just loved it,” she said, despite the bitterness of defeat. Fair or not, the label of a disastrous presidency had leading Democrats keep their distance, at least publicly, for many years, but Carter managed to remain relevant, writing books and weighing in on societal challenges. He lamented widening wealth gaps and the influence of money in politics. He voted for democratic socialist Bernie Sanders over Hillary Clinton in 2016, and later declared that America had devolved from fully functioning democracy to “oligarchy.” Yet looking ahead to 2020, with Sanders running again, Carter warned Democrats not to “move to a very liberal program,” lest they help re-elect President Donald Trump. Carter scolded the Republican for his serial lies and threats to democracy, and chided the U.S. establishment for misunderstanding Trump’s populist appeal. He delighted in yearly convocations with Emory University freshmen, often asking them to guess how much he’d raised in his two general election campaigns. “Zero,” he’d gesture with a smile, explaining the public financing system candidates now avoid so they can raise billions. Carter still remained quite practical in partnering with wealthy corporations and foundations to advance Carter Center programs. Carter recognized that economic woes and the Iran crisis doomed his presidency, but offered no apologies for appointing Paul Volcker as the Federal Reserve chairman whose interest rate hikes would not curb inflation until Reagan’s presidency. He was proud of getting all the hostages home without starting a shooting war, even though Tehran would not free them until Reagan’s Inauguration Day. “Carter didn’t look at it” as a failure, Alter emphasized. “He said, ‘They came home safely.’ And that’s what he wanted.” Well into their 90s, the Carters greeted visitors at Plains’ Maranatha Baptist Church, where he taught Sunday School and where he will have his last funeral before being buried on family property alongside Rosalynn . Carter, who made the congregation’s collection plates in his woodworking shop, still garnered headlines there, calling for women’s rights within religious institutions, many of which, he said, “subjugate” women in church and society. Carter was not one to dwell on regrets. “I am at peace with the accomplishments, regret the unrealized goals and utilize my former political position to enhance everything we do,” he wrote around his 90th birthday. The politician who had supposedly hated Washington politics also enjoyed hosting Democratic presidential contenders as public pilgrimages to Plains became advantageous again. Carter sat with Buttigieg for the final time March 1, 2020, hours before the Indiana mayor ended his campaign and endorsed eventual winner Joe Biden. “He asked me how I thought the campaign was going,” Buttigieg said, recalling that Carter flashed his signature grin and nodded along as the young candidate, born a year after Carter left office, “put the best face” on the walloping he endured the day before in South Carolina. Never breaking his smile, the 95-year-old host fired back, “I think you ought to drop out.” “So matter of fact,” Buttigieg said with a laugh. “It was somehow encouraging.” Carter had lived enough, won plenty and lost enough to take the long view. “He talked a lot about coming from nowhere,” Buttigieg said, not just to attain the presidency but to leverage “all of the instruments you have in life” and “make the world more peaceful.” In his farewell address as president, Carter said as much to the country that had embraced and rejected him. “The struggle for human rights overrides all differences of color, nation or language,” he declared. “Those who hunger for freedom, who thirst for human dignity and who suffer for the sake of justice — they are the patriots of this cause.” Carter pledged to remain engaged with and for them as he returned “home to the South where I was born and raised,” home to Plains, where that young lieutenant had indeed become “a fellow citizen of the world.” —- Bill Barrow, based in Atlanta, has covered national politics including multiple presidential campaigns for the AP since 2012.
NoneMinisters warned of cuts as ‘every pound’ of spending to face reviewCobre hits new copper mineralisation 7.5 kilometres along strike from Comet Prospect at Ngami in BotswanaThe 26-year-old man charged in last week’s killing of UnitedHealthcare’s CEO appeared in a Pennsylvania courtroom on Tuesday, where he was denied bail and his lawyer said he'd fight extradition to New York City, where the attack happened. Luigi Nicholas Mangione was arrested Monday in last Wednesday's attack on Brian Thompson after they say a worker at a McDonald’s in Altoona, Pennsylvania, alerted authorities to a customer who resembled the suspected gunman. When arrested, Mangione had on him a gun that investigators believe was used in the attack and writings expressing anger at corporate America, police said. As Mangione arrived at the courthouse Tuesday, he struggled with officers and shouted something that was partly unintelligible but referred to an “insult to the intelligence of the American people.” Mangione is being held on Pennsylvania charges of possession of an unlicensed firearm, forgery and providing false identification to police. Manhattan prosecutors have charged him with five counts, including murder, criminal possession of a weapon and criminal possession of a forged instrument. Here are some of the latest developments: Wearing an orange jumpsuit, Mangione mostly stared straight ahead during the hearing, occasionally consulting papers, rocking in his chair, or looking back at the gallery. At one point, he began to speak to respond to the court discussion but was quieted by his lawyer. Judge David Consiglio denied bail to Mangione, whose attorney, Thomas Dickey, told the court that his client did not agree to extradition and wants a hearing on the matter. Blair County (Pennsylvania) District Attorney Peter Weeks said that although Mangione's fighting extradition will create “extra hoops” for law enforcement to jump through, it won’t be a substantial barrier to sending him to New York. In addition to a three-page, handwritten document that suggests he harbored “ill will toward corporate America,” NYPD Chief of Detectives Joseph Kenny said Monday that Mangione also had a ghost gun, a type of weapon that can be assembled at home and is difficult to trace. Officers questioned Mangione, who was acting suspiciously and carrying multiple fraudulent IDs, as well as a U.S. passport, New York Police Commissioner Jessica Tisch said. Officers also found a sound suppressor, or silencer, “consistent with the weapon used in the murder,” she said. He had clothing and a mask similar to those worn by the shooter and a fraudulent New Jersey ID matching one the suspect used to check into a New York City hostel before the shooting, the commissioner said. Kenny said Mangione was born and raised in Maryland, has ties to San Francisco and that his last known address is in Honolulu. Mangione, who was valedictorian of his Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a university spokesman told The Associated Press on Monday. Mangione comes from a prominent Maryland family. His grandfather Nick Mangione, who died in 2008, was a successful real estate developer. One of his best-known projects was Turf Valley Resort, a sprawling luxury retreat and conference center outside Baltimore that he purchased in 1978. Mangione likely was motivated by his anger with what he called “parasitic” health insurance companies and a disdain with corporate greed, said a law enforcement bulletin obtained by The Associated Press. He wrote that the U.S. has the most expensive healthcare system in the world and that the profits of major corporations continue to rise while “our life expectancy” does not, according to the bulletin, which was based on a review of the suspect’s hand-written notes and social media postings. The defendant appeared to view the targeted killing of the UnitedHealthcare CEO as a symbolic takedown and may have been inspired by “Unabomber” Ted Kaczynski, whom he called a “political revolutionary,” the document said. Police said the person who killed Thompson left a hostel on Manhattan's Upper West Side at 5:41 a.m. on Wednesday. Eleven minutes later, he was seen on surveillance video walking back and forth in front of the New York Hilton Midtown, wearing a distinctive backpack. At 6:44 a.m., he shot Thompson at a side entrance to the hotel, fled on foot, then climbed aboard a bicycle and within four minutes had entered Central Park, according to police. Another security camera recorded the gunman leaving the park near the American Museum of Natural History at 6:56 a.m. still on the bicycle but without the backpack, police said. After getting in a taxi, he headed north to a bus terminal near the George Washington Bridge, arriving at around 7:30 a.m. From there, the trail of video evidence runs cold. Police have not located video of the suspect exiting the building, leading them to believe he likely took a bus out of town. Police said they are still investigating the path the suspect took to Pennsylvania. “This just happened this morning," Kenny said. "We’ll be working, backtracking his steps from New York to Altoona, Pennsylvania,” Kenny said. Associated Press reporters Lea Skene, Matt O'Brien, Sean Murphy and Cedar Attanasio contributed to this report.
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Indian cricket star Nitish Kumar Reddy's dad meets the legendary Sunil Gavaskar at the MCG - and you won't believe what happens nextManchester City caught a stray dig from Amazon Prime commentator Jon Champion on Boxing Day. The Premier League holders dropped yet more points with a 1-1 draw at home to Everton in the day's early kick-off. And Liverpool streaked further into the distance with a 3-1 win over Leicester City at Anfield in the day's late game. The Foxes have had a tough time of it lately, sacking Steve Cooper when they were outside the relegation zone and slipping into it since appointing Ruud van Nistelrooy. Normally, a home clash with City would be written off as an almost certain defeat. But Champion needled Pep Guardiola 's side by pointing out, with the final words of his Liverpool coverage, that they may be the perfect opponents for Leicester to end their three-game losing run. "They have work to do and their next game," he said. "Well, maybe it offers hope to them... it's Manchester City ." The Blues won their fourth consecutive league title last season and they were firmly in the title hunt during the opening weeks of the current campaign. But their fall from grace over the past two months has been spectacular. City had the lead against Everton thanks to Bernardo Silva's deflected first-half strike, before an exceptional Iliman Ndiaye finish drew the visitors level. Erling Haaland had a penalty to win it at the Etihad Stadium, but he placed his effort too close to Jordan Pickford, leaving Guardiola's men with one win in their last 13 games. They have also lost a staggering nine matches on that run, including heavy defeats against Tottenham and Sporting. Many feel that City are now out of the title race, with a 14-point gap between themselves and Liverpool , who have a game in hand. Guardiola has substantial credit in the bank thanks to his plethora of titles since landing in Manchester. And the former Barcelona boss has suggested that even Champions League qualification could be a bridge too far for his floundering players. "When I said before, people laughed," said Guardiola. "They said, 'qualifying for the Champions League is not a big success'. But I know it because it happens with clubs in this country. They were dominant for many years and after they were many years not qualifying for the Champions League. "The one team that has been in the Champions League for the past years has been Manchester City . Now we are at risk. Of course we are. Definitely." MORE TO FOLLOW We'll be bringing you the very latest updates, pictures and video on this breaking news story. For the latest news and breaking news visit: express.co.uk/sport/football . Stay up to date with all the big headlines, pictures, analysis, opinion and video on the stories that matter to you. Follow us on Twitter @dexpress_sport - the official Daily Express & Express.co.uk Twitter account - providing real news in real time. We're also on Facebook @dailyexpresssport - offering your must-see news, features, videos and pictures throughout the day to like, comment and share from the Daily Express, Sunday Express and Express.co.uk .