Connect with us

Technology

KLA Corporation Reports Fiscal 2024 Fourth Quarter Results and Full Year Results

Published

on

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.

View original content:https://www.prnewswire.com/news-releases/kla-corporation-reports-fiscal-2024-fourth-quarter-results-and-full-year-results-302205684.html

SOURCE KLA Corporation

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

NIX United Achieves AWS AI Competency After Rigorous Audit

Published

on

By

AI-enabled software development company NIX United has officially achieved the AWS AI Competency designation from Amazon Web Services (AWS). The recognition validates NIX’s proven expertise in architecting, securing, and deploying enterprise-grade artificial intelligence and machine learning solutions on AWS.

TAMPA, Fla., July 23, 2026 /PRNewswire-PRWeb/ — For enterprise organizations, the designation provides independent validation of NIX’s end-to-end AI capabilities across solution architecture, data security, governance, and operational excellence. It is based on successful production deployments, including a generative AI customer feedback analytics platform and an AI-powered medical education solution. The competency also provides eligible customers with access to AWS-validated frameworks, specialized technical resources, and AWS GenAI Innovation Funding programs.

“AI must be engineered for long-term production value,” said Artur Bakulin, Head of RnD and Innovation at NIX United. “Earning the AWS AI Competency reflects our commitment to building AI architectures grounded in verifiable return on investment.”

Moving Beyond AI Demos to Production Value

While AI adoption accelerates, organizations face a critical barrier: transitioning from impressive proofs of concept to production-grade applications. Building AI for the modern enterprise requires solving complex challenges around regulatory compliance and seamless system integration.

To earn the AWS AI Competency, NIX completed a comprehensive technical audit demonstrating its ability to deliver scalable AI solutions. The evaluation covered engineering practices, security controls, governance frameworks, and operational excellence, while highlighting NIX’s experience applying generative AI to complex business workflows.

Strategic Benefits for Enterprise Clients

“AI must be engineered for long-term production value,” said Artur Bakulin, Head of RnD and Innovation at NIX United. “Earning the AWS AI Competency reflects our commitment to building AI architectures grounded in verifiable return on investment.”

For NIX clients, this designation provides:

Reduced project risk through AWS-validated architectures that support data privacy, security, and regulatory compliance.Faster project execution with access to eligible AWS funding programs, including subsidized AI assessments, Proofs of Concept (PoCs), and AWS GenAI Innovation Funding.Long-term scalability with solutions engineered to move seamlessly from pilot projects to business-critical production environments.

Organizations exploring generative AI initiatives can work with NIX experts to evaluate their eligibility for the AWS GenAI Innovation Funding Program and identify opportunities to accelerate adoption.

Frequently Asked Questions

Q: What specific competency did NIX United achieve?

A: NIX achieved the AWS AI Competency, a formal designation by Amazon Web Services verifying a partner’s technical proficiency and robust customer success in delivering generative AI solutions.

Q: What criteria did AWS use to evaluate NIX United?

A: AWS conducted a comprehensive technical audit covering NIX’s solution architecture, security controls, governance frameworks, and delivery methodology.

Q: How can enterprise clients fund their AI initiatives with NIX United?

A: Through NIX’s status as an advanced AWS partner, eligible clients can access the AWS GenAI Innovation Funding Program to offset costs for AI assessments, proofs-of-concept, and full-scale implementations.

Media Contact

Yevheniia Kryvenko, NIX United, 1 7272563558, yevheniia.kryvenko@nixs.com, NIX United

View original content:https://www.prweb.com/releases/nix-united-achieves-aws-ai-competency-after-rigorous-audit-302831769.html

SOURCE NIX United

Continue Reading

Technology

Apollo and San Jose Earthquakes Announce Official Sleeve and Go-to-Market Partnership, Bringing the AI GTM System to Major League Soccer

Published

on

By

First-of-its-kind partnership to help Earthquakes capitalize on soccer’s surging popularity through AI-powered GTM transformation

SAN FRANCISCO, July 23, 2026 /PRNewswire/ — Apollo, the AI go-to-market system, announced today a multiyear Official Sleeve Partnership with Major League Soccer’s San Jose Earthquakes that entails becoming both the club’s Official Go-to-Market Partner and the first go-to-market (GTM) company to combine a professional sports sponsorship with a full-scale partnership for revenue operations transformation.

As soccer continues its unprecedented rise in popularity across the United States, with MLS seeing a 62% year-over-year increase in viewership to kick off the 2026 season, the unique partnership positions the Earthquakes to modernize their GTM, accelerate revenue and capitalize on the sport’s expanding global audience.

In the partnership, Apollo will serve as both a brand sponsor with its logo featured prominently on the right sleeve of the Earthquakes’ jersey, and as a technology partner, powering the club’s GTM strategy. The club will deploy Apollo’s system across key revenue-generating functions, including group ticket sales, sponsorship pipeline management, inbound lead routing and season ticket renewals, creating a modern GTM system designed to drive fan engagement and commercial growth.

“We see this partnership as a natural extension of Apollo’s mission to make world-class go-to-market accessible to everyone by bringing it to the world’s most popular game,” said Matt Curl, CEO of Apollo. “Soccer is entering an incredible growth phase in the U.S., creating a once-in-a-generation opportunity for clubs to deepen fan relationships and accelerate commercial growth. Every professional sports team is running a revenue business focused on finding customers, engaging fans, growing sponsorships and driving renewals. By bringing together data, intelligence and execution into one system, we’re helping the Earthquakes build a modern commercial operation that will become a model for the future of sports.”  

The partnership reflects Apollo’s broader vision that every organization can benefit from its AI GTM system. With the rise in soccer’s popularity, clubs face increasing pressure to convert fan interest into lasting relationships, ticket sales, sponsorships and recurring revenue. While sports organizations have historically relied on fragmented tools across ticketing, sponsorship sales, CRM and marketing, Apollo brings those workflows together into one connected system to help organizations capitalize on this moment.

For the Earthquakes, that means:

Modernizing group ticket sales workflowsImproving inbound lead managementGrowing sponsorship pipelineStreamlining season ticket renewal campaignsGiving sales and marketing teams a unified system

“While excitement around soccer continues to grow across the country, we’re investing in the technology and systems that will help us better engage our supporters and continue growing our commercial business,” said Earthquakes President Jared Shawlee. “I started my career in sales and have never seen the kind of technology that Apollo provides. This will transform our approach to sales and marketing by giving us one system to connect data, automate workflows and create a more connected experience for Quakes fans throughout their journey with the club.”

“We are excited to roll out the Apollo AI GTM system to revenue teams across our organization,” added Earthquakes Chief Strategy Officer Ian Anderson. “Apollo is at the forefront of AI-powered GTM and the Quakes are committed to being ahead of the technology curve for our industry.”

The Earthquakes become Apollo’s first official sports partner, laying the foundation for a broader strategy to bring modern GTM technology to sports organizations worldwide. Apollo plans to use the partnership as a blueprint for working with hundreds of professional sports organizations facing similar revenue and commercial challenges.

“This is just the beginning,” added Curl. “Professional sports organizations have the same GTM challenges as fast-growing businesses. We’re excited to demonstrate what’s possible when data, intelligence, and execution come together in a single system to help teams build stronger relationships with fans, partners, and customers.”

The partnership will officially debut ahead of the Earthquakes’ annual California Clasico match on Saturday, July 25, against the LA Galaxy at Stanford Stadium, with Apollo and the club jointly celebrating the launch through customer events, social activations and in-stadium experiences.

About Apollo
Apollo is the AI GTM System that uniquely combines data, intelligence, and execution in one loop helping every business find and win their next customer. Trusted by millions of users and over 600,000 companies worldwide, Apollo combines one of the industry’s largest B2B contact databases with a purpose built GTM intelligence engine and a full execution stack, in an all-in-one system. Learn more at apollo.io.

About San Jose Earthquakes
The San Jose Earthquakes, one of Major League Soccer’s original teams, are the epicenter for soccer in Northern California, playing at the highest professional level in the United States. The club won MLS Cups in 2001 and 2003 and took home Supporters’ Shields in 2005 and 2012. The Earthquakes are based out of PayPal Park, an 18,000-seat soccer-specific stadium that opened in 2015 and is the first cloud-enabled venue in MLS. The organization was originally founded in 1974 in the North American Soccer League, and in 2024, celebrated its 50th anniversary of positively impacting communities around Northern California. The club’s nonprofit arm, the Quakes Foundation, focuses on health and fitness initiatives for local underserved youth and fighting food insecurity. For more information about the Earthquakes, visit sjearthquakes.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/apollo-and-san-jose-earthquakes-announce-official-sleeve-and-go-to-market-partnership-bringing-the-ai-gtm-system-to-major-league-soccer-302832676.html

SOURCE Apollo.io

Continue Reading

Technology

CIQ Arms Federal Agencies and Contractors with Kernel-Level Detection and BOD 26-04-Compliant Remediation

Published

on

By

RLC Pro Hardened and Ascender Pro together give federal teams kernel exploitation detection as it happens and CVE remediation before it wipes out an entire fleet

RENO, Nev., July 23, 2026 /PRNewswire/ — CIQ, the founding commercial sponsor of Rocky Linux, today announced the launch of an RLC Pro Hardened and Ascender Pro deployment that gives federal agencies real-time kernel exploit detection, audit-ready compliance, and automated remediation in a single deployment. The pairing gives federal teams a stronger position inside the three-day remediation window Binding Operational Directive (BOD) 26-04 sets for the highest-risk vulnerabilities on federal systems.

On June 10, 2026, CISA issued BOD 26-04, and the three-day clock starts when a flaw enters the Known Exploited Vulnerabilities (KEV) catalog, not when a patch ships. For the most dangerous vulnerabilities, the exploit often arrives before the patch does, leaving agencies with a compliance deadline and no fix to apply yet. Non-compliance penalties can include a range of administrative consequences, including greater regulatory oversight and asset disconnection.

RLC Pro Hardened, CIQ’s federal-ready Enterprise Linux distribution, answers that gap. It is the first Enterprise Linux distribution to ship runtime kernel exploitation detection enabled and supported by default, giving agencies a record of what happened during the window before a fix shipped. CIQ delivered that capability well before BOD 26-04 put federal agencies on a three-day clock.

“A single critical vulnerability can impact an entire federal fleet before it’s even confirmed as a CVE,” said Gregory Kurtzer, founder and CEO of CIQ. “RLC Pro Hardened’s LKRG catches the exploit behavior at the kernel the moment it happens, patch or no patch. Once remediation is required, Ascender Pro orchestrates it across the entire fleet and proves it happened, system by system. Agencies get both sides covered without rebuilding their infrastructure.”

RLC Pro Hardened ships with Linux Kernel Runtime Guard (LKRG), which validates kernel integrity continuously and records kernel-level exploitation as it happens. The distribution also arrives audit-ready, with FIPS 140-3 validated cryptography and CIQ-engineered lockdown playbooks for DISA STIG, CIS and NIST 800-171.

Ascender Pro adds Reaqt, an event-driven engine that watches fleet logs, matches them against rule sets, and fires the right Ansible playbook automatically. Across a fleet, that closes issues faster than manual, ticket-driven review.

More About BOD 26-04

BOD 26-04 replaced the severity-score deadlines of BOD 22-01 and BOD 19-02 with a risk model. It scores each vulnerability on four factors: public exposure, presence in the KEV catalog, exploit automation and technical impact. A vulnerability that meets all four carries a three-calendar-day remediation deadline, the shortest CISA has set in a Binding Operational Directive. Agency remediation policies must support the directive by August 7, 2026.

About CIQ

CIQ is the founding support and services partner for Rocky Linux and a leading provider of enterprise Linux infrastructure. CIQ delivers commercially supported Linux offerings, high-performance computing solutions and AI infrastructure to enterprises, government agencies, research institutions and supercomputing centers worldwide. CIQ’s products include the Rocky Linux from CIQ (RLC Pro) family of operating systems, Ascender Pro for IT automation, Fuzzball job-based container orchestration, Warewulf cluster provisioning and Apptainer, the leading container system for high-performance computing. For more information, visit ciq.com.

MEDIA CONTACT:
Cristin Connelly
Cathey Communications for CIQ
cristin@cathey.co

View original content to download multimedia:https://www.prnewswire.com/news-releases/ciq-arms-federal-agencies-and-contractors-with-kernel-level-detection-and-bod-26-04-compliant-remediation-302833327.html

SOURCE CIQ

Continue Reading

Trending