Technology
KLA Corporation Reports Fiscal 2024 Fourth Quarter Results and Full Year Results
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2 years agoon
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For the quarter, total revenues were $2.569 billion, at the upper end of the guidance range of $2.5 billion +/- $125 million;For the quarter, GAAP diluted EPS attributable to KLA was $6.18 and non-GAAP diluted EPS attributable to KLA was $6.60, each finishing above the midpoints of the respective guidance ranges;Cash flow from operating activities for the quarter and fiscal year was $892.6 million and $3.31 billion, respectively, and free cash flow was $831.9 million and $3.03 billion, respectively; andCapital returns for the quarter and fiscal year were $667.8 million and $2.51 billion, respectively.
MILPITAS, Calif., July 24, 2024 /PRNewswire/ — KLA Corporation (NASDAQ: KLAC) today announced financial and operating results for its fourth quarter and fiscal year ended June 30, 2024. KLA reported GAAP net income attributable to KLA of $836.4 million and GAAP diluted earnings per share (“EPS”) attributable to KLA of $6.18 on total revenues of $2.57 billion for the fourth quarter of fiscal year 2024. For the fiscal year ended June 30, 2024, KLA reported GAAP net income attributable to KLA of $2.76 billion and GAAP diluted EPS attributable to KLA of $20.28 on total revenues of $9.81 billion.
“KLA’s June quarter results exceeded expectations, including revenue, gross margin and EPS, which were all above their respective guidance midpoints, demonstrating the enduring power and differentiation of the KLA portfolio,” said Rick Wallace, President and CEO, KLA Corporation. “We are encouraged by the early signs of a strengthening market environment for our customers at the leading edge and are increasingly confident in our plan for steady improvement throughout the remainder of this calendar year and into 2025.”
GAAP Results
Q4 FY 2024
Q3 FY 2024
Q4 FY 2023
Total Revenues
$2,569 million
$2,360 million
$2,355 million
Net Income Attributable to KLA
$836 million
$602 million
$685 million
Net Income per Diluted Share Attributable to KLA
$6.18
$4.43
$4.97
Non-GAAP Results
Q4 FY 2024
Q3 FY 2024
Q4 FY 2023
Net Income Attributable to KLA
$893 million
$715 million
$743 million
Net Income per Diluted Share Attributable to KLA
$6.60
$5.26
$5.40
A reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements included in this release. KLA will discuss the results for its fiscal year 2024 fourth quarter and full year, along with its outlook, on a conference call today beginning at 2 p.m. PT. A webcast of the call will be available at: www.kla.com.
First Quarter Fiscal 2025 Guidance
The following details our guidance for the first quarter of fiscal 2025 ending in Sept.:
Total revenues is expected to be in a range of $2.75 billion +/- $150 millionGAAP gross margin is expected to be in a range of 59.9% +/- 1.0%Non-GAAP gross margin is expected to be in a range of 61.5% +/- 1.0%GAAP diluted EPS is expected to be in a range of $6.69 +/- $0.60Non-GAAP diluted EPS is expected to be in a range of $7.00 +/- $0.60
For additional details and assumptions underlying our guidance metrics, please see the company’s published Letter to Shareholders, Earnings Slide Presentation and Earnings Infographic on the KLA investor relations website. Such Letter to Shareholders, Earnings Slide Presentation and Earnings Infographic are not incorporated by reference into this earnings release.
About KLA:
KLA Corporation (“KLA”) develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging and printed circuit boards. In close collaboration with leading customers across the globe, our expert teams of physicists, engineers, data scientists and problem-solvers design solutions that move the world forward. Investors and others should note that KLA announces material financial information including SEC filings, press releases, public earnings calls and conference webcasts using an investor relations website (ir.kla.com). Additional information may be found at: www.kla.com.
Note Regarding Forward-Looking Statements:
Statements in this press release other than historical facts, such as statements pertaining to total revenues, GAAP and non-GAAP gross margin and GAAP and non-GAAP diluted EPS for the quarter ending Sept. 30, 2024, are forward-looking statements and are subject to the Safe Harbor provisions created by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current information and expectations and involve a number of risks and uncertainties. Actual results may differ materially from those projected in such statements due to various factors, including, but not limited to: our vulnerability to a weakening in the condition of the financial markets and the global economy; risks related to our international operations; evolving Bureau of Industry and Security of the U.S. Department of Commerce rules and regulations and their impact on our ability to sell products to and provide services to certain customers in China; costly intellectual property disputes that could result in our inability to sell or use the challenged technology; risks related to the legal, regulatory and tax environments in which we conduct our business; increasing attention to ESG matters and the resulting costs, risks and impact on our business; unexpected delays, difficulties and expenses in executing against our environmental, climate, diversity and inclusion or other ESG targets, goals and commitments; our ability to attract, retain and motivate key personnel; our vulnerability to disruptions and delays at our third party service providers; cybersecurity threats, cyber incidents affecting our and our business partners’ systems and networks; our inability to access critical information in a timely manner due to system failures; our ability to identify suitable acquisition targets and successfully integrate and manage acquired businesses; climate change, earthquake, flood or other natural catastrophic events, public health crises such as the COVID-19 pandemic or terrorism and the adverse impact on our business operations; the war between Ukraine and Russia, and the war between Israel and Hamas, and the significant military activity in that region; lack of insurance for losses and interruptions caused by terrorists and acts of war, and our self-insurance of certain risks including earthquake risk; risks related to fluctuations in foreign currency exchange rates; risks related to fluctuations in interest rates and the market values of our portfolio investments; risks related to tax and regulatory compliance audits; any change in taxation rules or practices and our effective tax rate; compliance costs with federal securities laws, rules, regulations, NASDAQ requirements, and evolving accounting standards and practices; ongoing changes in the technology industry, and the semiconductor industry in particular, including future growth rates, pricing trends in end-markets, or changes in customer capital spending patterns; our vulnerability to a highly concentrated customer base; the cyclicality of the industries in which we operate; our ability to timely develop new technologies and products that successfully address changes in the industry; risks related to artificial intelligence; our ability to maintain our technology advantage and protect proprietary rights; our ability to compete in the industry; availability and cost of the materials and parts used in the production of our products; our ability to operate our business in accordance with our business plan; risks related to our debt and leveraged capital structure; we may not be able to declare cash dividends at all or in any particular amount; liability to our customers under indemnification provisions if our products fail to operate properly or contain defects or our customers are sued by third parties due to our products; our government funding for R&D is subject to audit, and potential termination or penalties; we may incur significant restructuring charges or other asset impairment charges or inventory write offs; risks related to receivables factoring arrangements and compliance risk of certain settlement agreements with the government; and risks related to the Court of Chancery of the State of Delaware being the sole and exclusive forum for certain actions and proceedings. For other factors that may cause actual results to differ materially from those projected and anticipated in forward-looking statements in this press release, please refer to KLA’s Annual Report on Form 10-K for the year ended June 30, 2023, and other subsequent filings with the Securities and Exchange Commission (including, but not limited to, the risk factors described therein). KLA assumes no obligation to, and does not currently intend to, update these forward-looking statements.
KLA Corporation
Condensed Consolidated Unaudited Balance Sheets
(In thousands)
June 30, 2024
June 30, 2023
ASSETS
Current assets:
Cash and cash equivalents
$ 1,977,129
$ 1,927,865
Marketable securities
2,526,866
1,315,294
Accounts receivable, net
1,833,041
1,753,361
Inventories
3,034,781
2,876,784
Other current assets
659,327
498,728
Total current assets
10,031,144
8,372,032
Land, property and equipment, net
1,109,968
1,031,841
Goodwill, net
2,015,726
2,278,820
Deferred income taxes
915,241
816,899
Purchased intangibles, net
668,764
935,303
Other non-current assets
692,723
637,462
Total assets
$ 15,433,566
$ 14,072,357
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$ 359,487
$ 371,026
Deferred system revenue
985,856
651,720
Deferred service revenue
501,926
416,606
Current portion of long-term debt
749,936
—
Other current liabilities
2,063,569
2,303,490
Total current liabilities
4,660,774
3,742,842
Long-term debt
5,880,199
5,890,736
Deferred tax liabilities
486,690
529,287
Deferred service revenue
294,460
176,681
Other non-current liabilities
743,115
813,058
Total liabilities
12,065,238
11,152,604
Stockholders’ equity:
Common stock and capital in excess of par value
2,280,133
2,107,663
Retained earnings
1,137,270
848,431
Accumulated other comprehensive loss
(49,075)
(36,341)
Total stockholders’ equity
3,368,328
2,919,753
Total liabilities and stockholders’ equity
$ 15,433,566
$ 14,072,357
KLA Corporation
Condensed Consolidated Unaudited Statements of Operations
Three Months Ended June 30,
Twelve Months Ended June 30,
(In thousands, except per share amounts)
2024
2023
2024
2023
Revenues:
Product
$ 1,954,837
$ 1,816,524
$ 7,482,679
$ 8,379,025
Service
613,898
538,613
2,329,568
2,117,031
Total revenues
2,568,735
2,355,137
9,812,247
10,496,056
Costs and expenses:
Costs of revenues
1,010,551
962,949
3,928,073
4,218,307
Research and development
325,759
317,110
1,278,981
1,296,727
Selling, general and administrative
255,106
250,857
969,509
986,326
Impairment of goodwill and purchased intangible assets
—
—
289,474
—
Interest expense
82,836
73,491
311,253
296,940
Loss on extinguishment of debt
—
—
—
13,286
Other expense (income), net
(50,560)
(24,776)
(155,075)
(104,720)
Income before income taxes
945,043
775,506
3,190,032
3,789,190
Provision for income taxes
108,597
90,852
428,136
401,839
Net income
836,446
684,654
2,761,896
3,387,351
Less: Net income attributable to non-controlling interest
—
—
—
74
Net income attributable to KLA
$ 836,446
$ 684,654
$ 2,761,896
$ 3,387,277
Net income per share attributable to KLA:
Basic
$ 6.22
$ 5.00
$ 20.41
$ 24.28
Diluted
$ 6.18
$ 4.97
$ 20.28
$ 24.15
Weighted-average number of shares:
Basic
134,462
136,873
135,345
139,483
Diluted
135,342
137,654
136,187
140,235
KLA Corporation
Condensed Consolidated Unaudited Statements of Cash Flows
Three Months Ended June 30,
(In thousands)
2024
2023
Cash flows from operating activities:
Net income
$ 836,446
$ 684,654
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
101,001
104,813
Unrealized foreign exchange loss and other
4,214
17,602
Asset impairment charges
11,307
—
Stock-based compensation expense
58,621
49,907
Deferred income taxes
(30,634)
23,567
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions:
Accounts receivable
(221,958)
105,096
Inventories
(32,843)
(144,654)
Other assets
(65,884)
(90,591)
Accounts payable
24,177
(105,844)
Deferred system revenue
(8,613)
117,928
Deferred service revenue
74,096
52,672
Other liabilities
142,685
143,965
Net cash provided by operating activities
892,615
959,115
Cash flows from investing activities:
Capital expenditures
(60,745)
(78,683)
Purchases of available-for-sale securities
(602,081)
(481,096)
Proceeds from sale of available-for-sale securities
36,816
50,079
Proceeds from maturity of available-for-sale securities
488,779
434,819
Purchases of trading securities
(21,635)
(18,852)
Proceeds from sale of trading securities
18,644
19,249
Proceeds from other investments
1,430
—
Net cash used in investing activities
(138,792)
(74,484)
Cash flows from financing activities:
Issuance of common stock
96,501
90,939
Common stock repurchases
(470,266)
(388,825)
Payment of dividends to stockholders
(197,521)
(179,510)
Tax withholding payments related to vested and released restricted stock units
(47,508)
(21,102)
Payment of contingent consideration payable
(67)
(12,823)
Net cash used in financing activities
(618,861)
(511,321)
Effect of exchange rate changes on cash and cash equivalents
(6,000)
(13,958)
Net increase in cash and cash equivalents
128,962
359,352
Cash and cash equivalents at beginning of period
1,848,167
1,568,513
Cash and cash equivalents at end of period
$ 1,977,129
$ 1,927,865
Supplemental cash flow disclosures:
Income taxes paid, net
$ 65,553
$ 43,858
Interest paid
$ 25,171
$ 25,049
Non-cash activities:
Contingent consideration payable – financing activities
$ —
$ (29)
Dividends payable – financing activities
$ 1,953
$ 2,047
Unsettled common stock repurchase – financing activities
$ 5,500
$ 11,000
Accrued purchase of land, property and equipment – investing activities
$ 13,849
$ 18,445
KLA Corporation
Segment Information (Unaudited)
The following is a summary of results for each of our three reportable segments and reconciliation to total revenues for the indicated periods:
Three Months Ended June 30,
Twelve Months Ended June 30,
(In thousands)
2024
2023
2024
2023
Revenues:
Semiconductor Process Control
$ 2,307,994
$ 2,097,479
$ 8,733,556
$ 9,324,190
Specialty Semiconductor Process
121,268
129,008
528,701
543,398
PCB and Component Inspection
140,017
128,977
552,491
631,604
Total revenues for reportable segments
2,569,279
2,355,464
9,814,748
10,499,192
Corporate allocations and effects of changes in foreign exchange rates
(544)
(327)
(2,501)
(3,136)
Total revenues
$ 2,568,735
$ 2,355,137
$ 9,812,247
$ 10,496,056
KLA Corporation
Condensed Consolidated Unaudited Supplemental Information
Reconciliation of GAAP Net Income to Non-GAAP Net Income
Three Months Ended
Twelve Months Ended
(In thousands, except per share amounts)
June 30, 2024
March 31, 2024
June 30, 2023
June 30, 2024
June 30, 2023
GAAP net income attributable to KLA
$ 836,446
$ 601,541
$ 684,654
$ 2,761,896
$ 3,387,277
Adjustments to reconcile GAAP net income to non-GAAP net income:
Acquisition-related charges
a
58,777
58,573
64,564
239,901
271,563
Restructuring, severance and other charges
b
17,721
2,042
8,135
21,033
22,035
Impairment of goodwill and purchased intangible assets
c
—
70,474
—
289,474
—
Loss on extinguishment of debt
d
—
—
—
—
13,286
Income tax effect of non-GAAP adjustments
e
(23,227)
(19,879)
(20,892)
(86,311)
(90,409)
Discrete tax items
f
3,092
2,386
6,203
7,630
(46,074)
Non-GAAP net income attributable to KLA
$ 892,809
$ 715,137
$ 742,664
$ 3,233,623
$ 3,557,678
GAAP net income per diluted share attributable to KLA
$ 6.18
$ 4.43
$ 4.97
$ 20.28
$ 24.15
Non-GAAP net income per diluted share attributable to KLA
$ 6.60
$ 5.26
$ 5.40
$ 23.74
$ 25.37
Shares used in diluted net income per share calculation
135,342
135,856
137,654
136,187
140,235
Pre-tax Impact of GAAP to Non-GAAP Adjustments Included in Condensed Consolidated Unaudited Statements of Operations
(In thousands)
Acquisition-Related
Charges
Restructuring,
Severance and
Other Charges
Goodwill
Impairment
Total Pre-tax GAAP to
Non-GAAP
Adjustments
Three Months Ended June 30, 2024
Costs of revenues
$ 45,937
$ 2,240
$ —
$ 48,177
Research and development
—
2,230
—
2,230
Selling, general and administrative
12,840
13,251
—
26,091
Total in three months ended June 30, 2024
$ 58,777
$ 17,721
$ —
$ 76,498
Three Months Ended March 31, 2024
Costs of revenues
$ 44,839
$ 805
$ —
$ 45,644
Research and development
867
922
—
1,789
Selling, general and administrative
12,867
315
—
13,182
Impairment of goodwill
—
—
70,474
70,474
Total in three months ended March 31, 2024
$ 58,573
$ 2,042
$ 70,474
$ 131,089
Three Months Ended June 30, 2023
Costs of revenues
$ 45,437
$ 2,570
$ —
$ 48,007
Research and development
—
2,727
—
2,727
Selling, general and administrative
19,127
2,838
—
21,965
Total in three months ended June 30, 2023
$ 64,564
$ 8,135
$ —
$ 72,699
Free Cash Flow Reconciliation
Three Months Ended June 30,
Twelve Months Ended June 30,
(In thousands)
2024
2023
2024
2023
Net cash provided by operating activities
$ 892,615
$ 959,115
$ 3,308,575
$ 3,669,805
Capital expenditures
(60,745)
(78,683)
(277,384)
(341,591)
Free cash flow
$ 831,870
$ 880,432
$ 3,031,191
$ 3,328,214
Capital Returns Calculation
Three Months Ended June 30,
Twelve Months Ended June 30,
(In thousands)
2024
2023
2024
2023
Payments of dividends to stockholders
$ 197,521
$ 179,510
$ 773,041
$ 732,556
Common stock repurchases
470,266
388,825
1,735,746
1,311,864
Capital returns
$ 667,787
$ 568,335
$ 2,508,787
$ 2,044,420
First Quarter Fiscal 2025 Guidance
Reconciliation of GAAP Diluted EPS to Non-GAAP Diluted EPS
Three Months Ending Sept. 30, 2024
(In millions, except per share amounts)
Low
High
GAAP net income per diluted share
$6.09
$7.29
Acquisition-related charges
a
0.40
0.40
Restructuring, severance and other charges
b
0.05
0.05
Income tax effect of non-GAAP adjustments
e
(0.14)
(0.14)
Non-GAAP net income per diluted share
$6.40
$7.60
Shares used in net income per diluted share calculation
135.0
135.0
Reconciliation of GAAP Gross Margin to Non-GAAP Gross Margin
Three Months Ending Sept. 30, 2024
Low
High
GAAP gross margin
58.9 %
60.9 %
Acquisition-related charges
a
1.5 %
1.5 %
Restructuring, severance and other charges
b
0.1 %
0.1 %
Non-GAAP gross margin
60.5 %
62.5 %
The non-GAAP and supplemental information provided in this press release is a supplement to, and not a substitute for, KLA’s financial results presented in accordance with United States GAAP.
To supplement our Condensed Consolidated Financial Statements presented in accordance with GAAP, we provide certain non-GAAP financial information, which is adjusted from results based on GAAP to exclude certain gains, costs and expenses, as well as other supplemental information. The non-GAAP and supplemental information is provided to enhance the user’s overall understanding of our operating performance and our prospects in the future. Specifically, we believe that the non-GAAP information, including non-GAAP net income attributable to KLA, non-GAAP net income per diluted share attributable to KLA, non-GAAP gross margin and free cash flow, provides useful measures to both management and investors regarding financial and business trends relating to our financial performance by excluding certain costs and expenses that we believe are not indicative of our core operating results to help investors compare our operating performances with our results in prior periods as well as with the performance of other companies. The non-GAAP information is among the budgeting and planning tools that management uses for future forecasting. However, because there are no standardized or generally accepted definitions for most non-GAAP financial metrics, definitions of non-GAAP financial metrics are inherently subject to significant discretion (for example, determining which costs and expenses to exclude when calculating such a metric). As a result, non-GAAP financial metrics may be defined very differently from company to company, or even from period to period within the same company, which can potentially limit the usefulness of such information to an investor. The presentation of non-GAAP and supplemental information is not meant to be considered in isolation or as a substitute for results prepared and presented in accordance with United States GAAP. The following are descriptions of the adjustments made to reconcile GAAP net income attributable to KLA to non-GAAP net income attributable to KLA:
a.
Acquisition-related charges primarily include amortization of intangible assets, transaction costs associated with our acquisitions and dispositions, as well as intangible asset impairment charges. Although we exclude the effect of amortization of all acquired intangible assets from these non-GAAP financial measures, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase price accounting arising from acquisitions, and such amortization of intangible assets related to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Investors should note that the use of these intangible assets contributed to our revenues earned during the periods presented and are expected to contribute to our future period revenues as well.
b.
Restructuring, severance and other charges primarily include costs associated with employee severance including associated acceleration of recognition of certain stock-based and other compensation expenses, gains and losses from exiting non-core businesses, write downs of certain right of use assets and fixed assets that were abandoned and adjustments related to non-controlling interest. Restructuring, severance and other charges in the twelve months ended June 30, 2023 include a gain on the sale of Orbograph, Ltd. (“Orbograph”), which was sold in the first quarter of fiscal 2023, partially offset by certain transaction bonuses triggered by the sale of Orbograph.
c.
Impairment of goodwill and purchased intangible assets included non-cash expense recognized in the three months ended March 31, 2024 and Dec. 31, 2023, following the downward revision of financial outlook for the PCB and Display reporting units in the second quarter of fiscal 2024 and the subsequent decision to exit the Company’s Display business that was based on many factors, including the cancellation of a significant new technology project by a major customer, in the third quarter of fiscal 2024. Management believes that it is appropriate to exclude these impairment charges as they are not indicative of ongoing operating results and therefore limit comparability. Management also believes excluding this item helps investors compare our operating performance with our results in prior periods as well as with the performance of other companies.
d.
Loss on extinguishment of debt during the twelve months ended June 30, 2023 included a pre-tax loss on early extinguishment of the $500 million 4.650% Senior Notes due in Nov. 2024.
e.
Income tax effect of non-GAAP adjustments includes the income tax effects of the excluded items noted above.
f.
Discrete tax items in the twelve months ended June 30, 2024 included a one-time tax benefit resulting from changes made to our international structure to better align ownership of certain intellectual property rights with how our business operates. Discrete tax items in all periods presented included a tax impact relating to the amortization of the aforementioned tax benefit or similar tax benefits recorded in other periods. Discrete tax items in the twelve months ended June 30, 2023 also include the following: an adjustment of the net benefit of the Orbotech Ltd. 2012 to 2018 Israel tax audit settlement, for which the net benefit includes the liability on the audit settlement less reductions in unrecognized tax positions and deferred tax assets and liabilities; a tax expense of $19.8 million from an internal restructuring; and a tax impact from the sale of Orbograph.
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SOURCE KLA Corporation
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Workday Government is a wholly owned subsidiary of Workday, the enterprise AI platform for HR, finance, and IT. Workday Government is dedicated to serving the U.S. government by unifying HR and finance on one intelligent platform with AI at the core, empowering agencies at every level with the clarity, confidence, and insights they need to adapt quickly, make better decisions, and deliver on their missions. Workday Government supports a range of agencies across the civilian, defense, and intelligence communities. For more information about Workday Government, visit workday.com/federal. For more information about Workday visit workday.com.
Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday’s plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission (“SEC”), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law.
Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.
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SOURCE Workday Inc.
Technology
Ontinue Wins Gold Stevie® Award for Advancing the Future of Managed Security Operations
Published
2 minutes agoon
July 23, 2026By
Recognition Honors the Innovation Behind Ontinue’s Agentic SOC, Where AI Agents And Expert Cyber Defenders Work Together to Deliver Autonomous, Governed Security Operations
ZURICH, July 23, 2026 /PRNewswire/ — Ontinue, a leading MXDR partner providing nonstop managed security operations through its Agentic SOC, today announced it received a Gold Stevie® for Technology Excellence Award, recognizing the innovation behind its ION MXDR platform and Agentic SOC. The award was presented in the New Product of the Year – Information Technology (Cybersecurity) category, honoring Ontinue’s continued advancement of AI-powered security operations.
Ontinue was recognized for pioneering the Agentic SOC, a new operating model that treats security decision-making itself as software: governed, measurable, and built to scale with attackers who now operate at machine speed. Rather than layering AI onto existing workflows, Ontinue re-engineered its ION MXDR platform around a multi-agent architecture, with specialized agents spanning threat hunting, investigation, response, and posture hardening, that reason over each customer’s accumulated context and progressively take on more decision-making as trust is earned, while Ontinue’s Cyber Defenders retain governance and accountability throughout.
Ontinue defines an Agentic SOC as a security operations model in which software agents progressively assume responsibility for security decisions and actions, under continuous human governance, using accumulated context, policy, and learned behavior. In December 2024, this model went live in production for every ION MXDR customer, extending autonomous investigation to Tier 2-level incidents for the first time in the industry. The result is a platform that acts less like a tool and more like a team.
Ontinue’s Agentic SOC, by the numbers:
Autonomously investigates incidents within minutesCuts mean time to investigate by 50 percentResolves 99.5 percent of incidents without customer involvementDrives median response time for high-severity incidents under nine minutesPre-approves 97 percent of response actions, based on trust earned directly from customers
For Ontinue’s customers, that translates directly into business outcomes, such has stronger Secure Scores, security teams freed from alert fatigue, and hundreds of analyst hours returned to work that actually moves the business forward.
“The cybersecurity industry doesn’t need more AI features, it needs a fundamentally better way to operate security,” said Moritz Mann, Chief Executive Officer at Ontinue. “This recognition validates the work our teams have done over the past two years to transform AI from an assistant into a trusted operational capability. It’s recognition of an operating model that is already delivering measurable outcomes for customers every day.”
“We congratulate all of the winners in the third annual Stevie® Awards for Technology Excellence for their outstanding achievements,” said Stevie Awards President Maggie Miller. “Their innovations are helping shape the future of technology across every industry, and we look forward to celebrating their success on October 28.”
The Stevie Awards for Technology Excellence celebrate the remarkable accomplishments of individuals, teams, and organizations shaping the future of technology across all industry sectors. More than 700 nominations from organizations of all sizes in 37 nations and territories were submitted this year for consideration in a wide range of tech-related categories. More than 180 professionals worldwide participated in the judging process to select this year’s honorees.
Details about the Stevie Awards for Technology Excellence and the list of 2026 Stevie winners are available at http://Tech.StevieAwards.com.
About Ontinue
As a leading provider of AI-powered managed security operations, Ontinue is on a mission to give every organization the freedom to focus on what they do best; by making nonstop security excellence accessible, not just aspirational. By combining advanced AI with deep human expertise, Ontinue delivers managed security operations that are tailored to each organization’s unique environment, operational needs, and risk profile.
Ontinue’s ION SecOps Platform integrates AI-driven insights, automation, and real-time collaboration to continuously prevent, detect, and respond to threats. With deep expertise in Microsoft security technologies, Ontinue helps customers maximize the value of their existing investments while achieving stronger, more scalable security outcomes.
Continuous protection. AI-powered Nonstop SecOps. That’s Ontinue.
About the Stevie Awards
Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, the Stevie Awards for Technology Excellence and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
CONTACT: Alison Raymond, araymond@ontinue.com
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SOURCE Ontinue
Technology
New Harris Poll and Ruth AI Study: 81% of Americans Would Let an AI Agent Handle Part of Their Job Search
Published
2 minutes agoon
July 23, 2026By
Nearly half would let AI negotiate their salary, while 76% have never heard that AI can provide biased career guidance
SAN FRANCISCO, July 23, 2026 /PRNewswire/ — Artificial intelligence has become a mainstream source of career and financial advice for American workers, according to a national survey of 2,131 U.S. adults conducted by The Harris Poll in collaboration with Ruth AI, the AI career strategist built for women.
The full study, The Trust Gap, is available at https://ruthapp.ai/research and has already drawn coverage from Fast Company.
Nearly half of Americans (45%) have used an AI platform such as ChatGPT, Claude, or Gemini for career or work-related advice. That rises to 66% of Millennials and 63% of Gen Z. One in three U.S. adults has used AI for advice about money at work, including salary, raises, bonuses, or negotiating pay.
Americans are also increasingly willing to let AI act on their behalf. Eighty-one percent would be comfortable having an AI agent handle at least one part of a job search, climbing to 90% of Millennials. A majority would let AI search for jobs (67%), conduct pre-interview research (67%), update their resume (65%), or apply for jobs outright (55%). Nearly half would let AI negotiate their benefits (49%) or salary (47%).
Yet awareness of the technology’s documented limitations remains low. Three in four Americans (76%) had never heard that independent research has found AI can produce biased career and salary guidance. Seventy-two percent agree that AI can sound confident even when its advice turns out to be wrong.
“Americans are handing AI some of the most consequential decisions of their working lives, from the job search to the salary ask, while most have never heard that the guidance can carry bias,” said Valerie Chapman, founder and CEO of Ruth AI. “We are delegating faster than we are asking questions. The responsibility now falls on the people building AI to earn the trust users are already giving it.”
About the Survey
The survey was conducted online within the United States by The Harris Poll from June 11-13, 2026, among a nationally representative sample of 2,131 U.S. adults, including 420 Gen Z adults, 620 Millennials, 519 Gen X adults, and 572 Baby Boomers. Data were weighted to the U.S. general adult population. Some questions were asked only of respondents who had used AI for the relevant purpose. References to research on biased AI guidance refer to external academic research (Sorokovikova, Chizhov, Eremenko & Yamshchikov, 2025; arXiv:2506.10491) and are not findings measured by this survey.
About The Harris Poll Thought Leadership Practice
Building on more than 60 years of experience pulsing societal opinion, The Harris Poll Thought Leadership Practice designs research that is credible, creative, and culturally relevant, driving thought leadership and uncovering trends for today’s biggest brands.
About Ruth AI
Ruth AI is an AI career strategist built for women, on a mission to close the $1.6 trillion gender wage gap. Based in San Francisco, Ruth AI is building a suite of AI agents that help women build personal brands, negotiate their worth, and launch their businesses. Learn more at https://ruthapp.ai.
Media Contact
Valerie Chapman
Founder and CEO, Ruth AI
419380@email4pr.com
786-375-1110
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SOURCE Ruth AI
Workday Adaptive Planning Achieves FedRAMP Moderate Authorization to Support Federal Workforce and Budget Planning
Ontinue Wins Gold Stevie® Award for Advancing the Future of Managed Security Operations
New Harris Poll and Ruth AI Study: 81% of Americans Would Let an AI Agent Handle Part of Their Job Search
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