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Day: May 10, 2023

Alta Equipment Group Announces strong First Quarter 2023 Financial Results and Increases Adjusted EBITDA Guidance for 2023

First Quarter Financial Highlights: (comparisons are year over year)Total revenues increased 26.8% year over year to $420.7 million Construction and Material Handling revenue of $233.1 million and $164.8 million, respectively Introduced separate reporting segment, Master Distribution, with revenue of $26.7 million New and Used Equipment sales grew 44.9% to $219.6 million Product Support revenue increased 26.6% year over year with Parts Sales increasing to $68.4 million and Service Revenue increasing to $60.2 million Net income of $0.2 million available to common stockholders compared to a loss of $(2.0) million in 2022 Basic and diluted net income per share of $0.01 for 2023 compared to $(0.06) loss in 2022 Adjusted basic and diluted net income per share* of $0.04 for 2023 compared to a loss of $(0.02) in 2022 Adjusted EBITDA* grew...

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HF Foods Reports First Quarter 2023 Financial Results

First Quarter Net Revenue up 6% to $293.9 Million Plan in Place to Reduce Cost Structure and Continue Focus on Improving Operations LAS VEGAS, May 10, 2023 (GLOBE NEWSWIRE) — HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods”, “HF Group” or the “Company”), reported financial results for the first quarter ended March 31, 2023. First Quarter 2023 Financial ResultsNet revenue increased 6% to $293.9 million compared to $278.2 million in the prior year. Gross profit decreased 1% to $50.2 million, or 17.1% gross profit margin compared to $50.7 million, or 18.2% gross profit margin in the prior year. Net (loss) income decreased 285% to a net loss of $5.8 million compared to net income of $3.1 million in the prior year. Adjusted EBITDA decreased 71% to $5.3 million...

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Generation Bio Reports Business Highlights and First Quarter 2023 Financial Results

Company entered into strategic collaboration with Moderna to use Generation Bio’s proprietary non-viral genetic medicine delivery system for two liver disease programs and to co-develop novel targeting for immune cells Factor VIII expression data in non-human primates for wholly-owned hemophilia A program expected in 2023 First quarter 2023 cash balance of $288.6 million expected to fund operations into 2025; additional $47.5 million from Moderna collaboration received in second quarter 2023 CAMBRIDGE, Mass., May 10, 2023 (GLOBE NEWSWIRE) — Generation Bio Co. (Nasdaq: GBIO), a biotechnology company innovating genetic medicines for people living with rare and prevalent diseases, reported business highlights and first quarter 2023 financial results. “This year, we are focused on demonstrating proof-of-concept in non-human primates...

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Nephros Announces Results for Quarter Ended March 31, 2023

First-Quarter Net Revenue of $3.7 Million;Achieves Positive Cash Flow Months Earlier than Forecast SOUTH ORANGE, NJ, May 10, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – Nephros, Inc. (Nasdaq: NEPH), a leading water technology company providing filtration solutions to the medical and commercial markets, today announced financial results for the first quarter ended March 31, 2023. Financial Highlights*Net revenue from continuing operations of $3.7 million, an increase of 71% Net loss from continuing operations of $0.3 million, compared to $1.6 million. Adjusted EBITDA from continuing operations of $0.1 million, compared to ($1.2 million)*Stated performance is relative to same period prior year (first quarter of 2022) “We are very pleased to report record net quarterly revenue and positive cash flow, both significant milestones...

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NeoGames Announces First Quarter 2023 Results

First Quarter Revenues and Share of NPI Revenues Interest total $64.3 million, up 187% year-over-year LUXEMBOURG, May 10, 2023 (GLOBE NEWSWIRE) — NeoGames S.A. (Nasdaq: NGMS) (“NeoGames” or the “Company”), a technology-driven provider of end-to-end iLottery and iGaming solutions, announced today financial results for the first quarter ended March 31, 2023. Moti Malul, Chief Executive Officer of NeoGames, said: “We are pleased to have carried the momentum we exited 2022 with, into the start of 2023 as we took steps to further solidify our position as the global leader in iLottery, sports betting and iGaming solutions. Toward this end, we were proud to be recognized by EGR North America as the lottery supplier of the year, as well as with the Gold distinction for ‘Best New Game’, beating other pure gaming companies with...

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Portman Ridge Finance Corporation Announces First Quarter 2023 Financial Results

Reports Strong Performance with Higher Total Investment Income, Core Investment Income and Net Investment Income Quarter-over-Quarter, While Also Continuing Share Repurchase Program in the First Quarter of 2023 Increases Quarterly Distribution to $0.69 Per Share in the Second Quarter of 2023, Marking the Third Consecutive Quarter of an Increased Stockholder Distribution NEW YORK, May 10, 2023 (GLOBE NEWSWIRE) — Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”) announced today its financial results for the first quarter ended March 31, 2023. First Quarter 2023 HighlightsTotal investment income for the first quarter of 2023 was $20.3 million, an increase of $1.7 million as compared to $18.6 million for the fourth quarter of 2022 and an increase of $3.4 million as compared to $16.9 million for...

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INNOVATE Corp. Announces First Quarter 2023 Results

– Infrastructure: DBM Global delivered first quarter revenue of $311.7 million –– Life Sciences: R2 Technologies receives expanded FDA clearances –– Spectrum: Broadcasting’s station revenues increased in the first quarter – NEW YORK, May 10, 2023 (GLOBE NEWSWIRE) — INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE) announced today its consolidated results for the first quarter. Financial Summary(in millions, except per share amounts) Three Months Ended March 31,    2023       2022     Increase / (Decrease)Revenue $ 317.9     $ 412.8       (23.0 )%Net loss attributable to common stockholders $ (10.2 )   $ (13.6 )     25.0 %Diluted loss per share – Net loss attributable to common stockholders $ (0.13 )   $ (0.18 )     27.8 %Total Adjusted EBITDA(1) $ 4.9     $ 11.5       (57.4 )%                       (1)...

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Vintage Wine Estates Reports Nine Month Fiscal 2023 Results

Revenue in the first nine months of fiscal 2023 increased 3% to $225 million driven by acquisitions Business simplification and operational improvement plan beginning to yield results Second quarter fiscal 2023 non-cash impairment charges of $139.1 million and third quarter fiscal 2023 inventory adjustment of $10.1 million impacted profitability Evaluating operational footprint and cost structure to further reduce costsINCLINE VILLAGE, Nev., May 10, 2023 (GLOBE NEWSWIRE) — Vintage Wine Estates, Inc. (Nasdaq: VWE and VWEWW) (“VWE” or the “Company”), one of the top wine producers in the U.S. with an industry leading direct-to-customer platform, today reported its fiscal 2023 year-to-date financial results for the first nine months of fiscal 2023 including its fiscal third quarter ended March 31, 2023, fiscal second quarter ended...

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Motus GI Reports First Quarter 2023 Financial Results and Provides Corporate Update

  ■ Oral presentation at the Digestive Disease Week 2023 featured positive clinical data showing a reduction of 33% in incomplete bowel prep (IBP)in just six months after implementation of the Pure-Vu® system at the Minneapolis VA Medical Center       ■ The Company is advancing its development of Pure-Vu EVS Gastro, designed for Upper GI bleeding procedures – an area of high unmet patient need – and expects submission of the 510(k) to the FDA for this new product line and its next generation Lower GI platform in Q4 2023       ■ The Company continues its exploration process to target strategic and financing alternatives aimed at accelerating commercialization of the Pure-Vu System and maximizing stockholder valueFORT LAUDERDALE, Fla., May 10, 2023 (GLOBE NEWSWIRE) — Motus GI Holdings, Inc. (NASDAQ:...

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Beyond Meat(R) Reports First Quarter 2023 Financial Results

EL SEGUNDO, Calif., May 10, 2023 (GLOBE NEWSWIRE) — Beyond Meat, Inc. (NASDAQ: BYND) (“Beyond Meat” or “the Company”), a leader in plant-based meat, today reported financial results for its first quarter ended April 1, 2023. First Quarter 2023 Financial Highlights1Net revenues were $92.2 million, a decrease of 15.7% year-over-year. Gross profit was $6.2 million, or gross margin of 6.7% of net revenues, compared to gross profit of $0.2 million, or gross margin of 0.2% of net revenues, in the year-ago period.Gross profit and gross margin were positively impacted by reduced manufacturing costs excluding depreciation, decreased logistics costs and, to a lesser extent, lower materials costs per pound, partially offset by lower net revenues per pound and higher inventory reserves, which increased costs per pound. Gross profit and...

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