Technology

Pure Storage Announces Third Quarter Fiscal 2025 Financial Results

Published

1 month ago

December 3, 2024

Awarded industry-first design win from a top-four hyperscaler

SANTA CLARA, Calif., Dec. 3, 2024 /PRNewswire/ — Today Pure Storage (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technologies and services, announced financial results for its third quarter fiscal year 2025 ended November 3, 2024.

“Pure Storage has achieved another industry first in our journey of data storage innovation with a transformational design win for our DirectFlash technology in a top-four hyperscaler,” said Pure Storage Chairman and CEO Charles Giancarlo. “This win is the vanguard for Pure Flash technology to become the standard for all hyperscaler online storage, providing unparalleled performance and scalability while also reducing operating costs and power consumption.”

Third Quarter Financial Highlights

Revenue $831.1 million, an increase of 9% year-over-yearSubscription services revenue $376.4 million, up 22% year-over-yearSubscription annual recurring revenue (ARR) $1.6 billion, up 22% year-over-yearRemaining performance obligations (RPO) $2.4 billion, up 16% year-over-yearGAAP gross margin 70.1%; non-GAAP gross margin 71.9%GAAP operating income $59.7 million; non-GAAP operating income $167.3 millionGAAP operating margin 7.2%; non-GAAP operating margin 20.1%Q3 operating cash flow $97.0 million; free cash flow $35.2 millionTotal cash, cash equivalents, and marketable securities $1.6 billionReturned approximately $182 million in the third quarter to stockholders through share repurchases of 3.6 million shares

“Our third quarter results exceeded our expectations on revenue and operating income, demonstrating the sustaining strength of our business models,” said Kevan Krysler, Pure Storage CFO. “We remain focused on driving both near-term results and long-term value creation through disciplined investments and innovation that position Pure as the leader in transforming the data storage landscape.”

Third Quarter Company Highlights

Leading the Hyperscale Opportunity: With its industry-first design win with a top-four hyperscaler, Pure Storage is extending its DirectFlash® technology into massive scale environments today dominated by hard disks. The unmatched capabilities of Pure’s DirectFlash® technology deliver new levels of innovation, performance, and scalability to an industry with demanding requirements, enabling hyperscalers to fully modernize their infrastructure, significantly improve operational efficiency, and dramatically free up scarce electrical power.

Pure Storage also deepened its collaboration with Kioxia, a global leader of NAND Flash technology, to develop cutting-edge technology and manufacturing capacity to address the growing need for high-performance, scalable storage infrastructure for tomorrow’s hyperscale environments.

Advancing Enterprise AI: Pure Storage expanded its ability to serve the world’s largest AI training environments with recent certification of FlashBlade//S500 with NVIDIA DGX SuperPOD, which optimizes performance, power, and space efficiency. Pure also entered into a strategic partnership with CoreWeave to better serve AI customers by making Pure Storage available as a standard option within the CoreWeave dedicated cloud environment. With its introduction of the new Pure Storage GenAI Pod, Pure Storage is providing a set of full-stack solutions which reduce the time, cost, and expertise required to deploy generative AI projects.

Delivering Platform Innovation: With the Pure Storage platform, Pure is driving the biggest shift in enterprise storage since Flash. Pure Storage will be delivering v2.0 of Pure Fusion™ in its fourth quarter, which will enable customers to create their own enterprise data cloud, opening their data storage environment like the hyperscalers operate theirs. During the quarter Pure Storage unveiled solutions enabling seamless VMware migrations to Microsoft Azure, delivering enterprise-scale flexibility. And the new Pure Storage FlashArray™ with AWS Outposts brings together Amazon Web Services and Pure’s enterprise-grade storage on AWS Outposts, giving customers the flexibility to run cloud services on an enterprise-grade storage platform within their own data centers.

Industry Recognition and Accolades

Leader for Fifth Consecutive Year in the 2024 Gartner ® Magic Quadrant ™ for Primary Storage Platforms Leader for Fourth Consecutive Year in the 2024 Gartner ® Magic Quadrant ™ for File and Object Storage Platforms Forbes Most Trusted Companies in America 2025 (Ranked #144)Fortune Best Places to Work in Technology 2024 (Ranked #14)

Fourth Quarter and FY25 Guidance

Q4FY25

Revenue

$867M

Revenue YoY Growth Rate

9.7 %

Non-GAAP Operating Income

$135M

Non-GAAP Operating Margin

15.6 %

FY25

Revenue

$3.15B

Revenue YoY Growth Rate

11.5 %

Non-GAAP Operating Income

$540M

Non-GAAP Operating Margin

17 %

These statements are forward-looking and actual results may differ materially. Refer to the Forward Looking Statements section below for information on the factors that could cause our actual results to differ materially from these statements. Pure has not reconciled its guidance for non-GAAP operating income and non-GAAP operating margin to their most directly comparable GAAP measures because certain items that impact these measures are not within Pure’s control and/or cannot be reasonably predicted. Accordingly, reconciliations of these non-GAAP financial measures guidance to the corresponding GAAP measures are not available without unreasonable effort.

Conference Call Information

Pure will host a teleconference to discuss the third quarter fiscal 2025 results at 2:00 pm PT today, December 3, 2024. A live audio broadcast of the conference call will be available on the Pure Storage Investor Relations website. Pure will also post its earnings presentation and prepared remarks to this website concurrent with this release.

A replay will be available following the call on the Pure Storage Investor Relations website or for two weeks at 1-800-770-2030 (or 1-647-362-9199 for international callers) with passcode 5667482.

Additionally, Pure is scheduled to participate at the following investor conferences:

Wells Fargo 8th Annual TMT Summit
Date: Wednesday, December 4, 2024
Time: 1:30 p.m. PT / 4:30 p.m. ET
Chief Technology Officer Rob Lee

27th Annual Needham Growth Conference
Date: Thursday, January 16, 2025
Time: 9:45 a.m. PT / 12:45 p.m. ET
Founder & Chief Visionary Officer John “Coz” Colgrove
Chief Financial Officer Kevan Krysler

The presentations will be webcast live and archived on Pure’s Investor Relations website at investor.purestorage.com.

—-

About Pure Storage

Pure Storage (NYSE: PSTG) delivers the industry’s most advanced data storage platform to store, manage, and protect the world’s data at any scale. With Pure Storage, organizations have ultimate simplicity and flexibility, saving time, money, and energy. From AI to archive, Pure Storage delivers a cloud experience with one unified Storage as-a-Service platform across on premises, cloud, and hosted environments. Our platform is built on our Evergreen architecture that evolves with your business – always getting newer and better with zero planned downtime, guaranteed. Our customers are actively increasing their capacity and processing power while significantly reducing their carbon and energy footprint. It’s easy to fall in love with Pure Storage, as evidenced by the highest Net Promoter Score in the industry. For more information, visit www.purestorage.com.

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Pure Storage, the Pure P Logo, Portworx, and the marks on the Pure Storage Trademark List are trademarks or registered trademarks of Pure Storage Inc. in the U.S. and/or other countries. The Trademark List can be found at purestorage.com/trademarks. Other names may be trademarks of their respective owners.

Forward Looking Statements

This press release contains forward-looking statements regarding our products, business and operations, including but not limited to our views relating to our opportunity with hyperscale and AI environments, our ability to meet hyperscalers’ performance and price requirements, our ability to meet the needs of hyperscalers for the entire spectrum of their online storage use cases, the timing and magnitude of large orders, including sales to hyperscalers, the timing and amount of revenue from hyperscaler licensing and support services, future period financial and business results, demand for our products and subscription services, including Evergreen//One, the relative sales mix between our subscription and consumption offerings and traditional capital expenditure sales, our technology and product strategy, specifically customer priorities around sustainability, the environmental and energy saving benefits to our customers of using our products, our ability to perform during current macro conditions and expand market share, our sustainability goals and benefits, the impact of inflation, economic or supply chain disruptions, our expectations regarding our product and technology differentiation, new customer acquisition, and other statements regarding our products, business, operations and results. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements.

Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption “Risk Factors” and elsewhere in our filings and reports with the U.S. Securities and Exchange Commission, which are available on our Investor Relations website at investor.purestorage.com and on the SEC website at www.sec.gov. Additional information is also set forth in our Annual Report on Form 10-K for the year ended February 4, 2024. All information provided in this release and in the attachments is as of December 3, 2024, and Pure undertakes no duty to update this information unless required by law.

Key Performance Metric

Subscription ARR is a key business metric that refers to total annualized contract value of all active subscription agreements on the last day of the quarter, plus on-demand revenue for the quarter multiplied by four.

Non-GAAP Financial Measures

To supplement our unaudited condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, Pure uses the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, and free cash flow.

We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses such as stock-based compensation expense, payments to former shareholders of acquired companies, payroll tax expense related to stock-based activities, amortization of debt issuance costs related to debt, and amortization of intangible assets acquired from acquisitions that may not be indicative of our ongoing core business operating results. Pure believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and planning, forecasting, and analyzing future periods. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP, and our non-GAAP measures may be different from non-GAAP measures used by other companies.

For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned “Reconciliations of non-GAAP results of operations to the nearest comparable GAAP measures” and “Reconciliation from net cash provided by operating activities to free cash flow,” included at the end of this release.

PURE STORAGE, INC.

Condensed Consolidated Balance Sheets

(in thousands, unaudited)

At the End of

Third Quarter of
Fiscal 2025

Fiscal 2024

Assets

Current assets:

Cash and cash equivalents

$ 894,569

$ 702,536

Marketable securities

753,960

828,557

Accounts receivable, net of allowance of $956 and $1,060

578,224

662,179

Inventory

41,571

42,663

Deferred commissions, current

86,839

88,712

Prepaid expenses and other current assets

204,485

173,407

Total current assets

2,559,648

2,498,054

Property and equipment, net

431,353

352,604

Operating lease right-of-use-assets

157,574

129,942

Deferred commissions, non-current

210,671

215,620

Intangible assets, net

23,039

33,012

Goodwill

361,427

Restricted cash

11,249

9,595

Other assets, non-current

99,504

55,506

Total assets

$ 3,854,465

$ 3,655,760

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$ 102,021

$ 82,757

Accrued compensation and benefits

155,652

250,257

Accrued expenses and other liabilities

141,846

135,755

Operating lease liabilities, current

47,941

44,668

Deferred revenue, current

897,174

852,247

Debt, current

100,000

—

Total current liabilities

1,444,634

1,365,684

Long-term debt

—

100,000

Operating lease liabilities, non-current

146,390

123,201

Deferred revenue, non-current

784,282

742,275

Other liabilities, non-current

68,573

54,506

Total liabilities

2,443,879

2,385,666

Stockholders’ equity:

Common stock and additional paid-in capital

2,821,010

2,749,627

Accumulated other comprehensive income (loss)

1,023

(3,782)

Accumulated deficit

(1,411,447)

(1,475,751)

Total stockholders’ equity

1,410,586

1,270,094

Total liabilities and stockholders’ equity

$ 3,854,465

$ 3,655,760

PURE STORAGE, INC.

Condensed Consolidated Statements of Operations

(in thousands, except per share data, unaudited)

Third Quarter of Fiscal

First Three Quarters of Fiscal

2025

2024

2025

2024

Revenue:

Product

$ 454,735

$ 453,277

$ 1,204,714

$ 1,161,978

Subscription services

376,337

309,561

1,083,608

878,838

Total revenue

831,072

762,838

2,288,322

2,040,816

Cost of revenue:

Product (1)

154,970

126,770

385,446

343,588

Subscription services (1)

93,180

83,321

284,168

244,541

Total cost of revenue

248,150

210,091

669,614

588,129

Gross profit

582,922

552,747

1,618,708

1,452,687

Operating expenses:

Research and development (1)

200,086

182,100

589,396

549,923

Sales and marketing (1)

255,830

231,707

757,069

696,885

General and administrative (1)

67,319

64,729

213,551

192,944

Restructuring and impairment (2)

—

15,901

16,766

Total operating expenses

523,235

478,536

1,575,917

1,456,518

Income (loss) from operations

59,687

74,211

42,791

(3,831)

Other income (expense), net

17,156

5,184

50,684

23,619

Income before provision for income taxes

76,843

79,395

93,475

19,788

Income tax provision

13,204

9,006

29,171

23,915

Net income (loss)

$ 63,639

$ 70,389

$ 64,304

$ (4,127)

Net income (loss) per share attributable to common stockholders, basic

$ 0.19

$ 0.22

$ 0.20

$ (0.01)

Net income (loss) per share attributable to common stockholders, diluted

$ 0.19

$ 0.21

$ 0.19

$ (0.01)

Weighted-average shares used in computing net income (loss) per share
attributable to common stockholders, basic

327,675

314,153

325,530

309,842

Weighted-average shares used in computing net income (loss) per share
attributable to common stockholders, diluted

340,564

330,255

341,490

309,842

(1) Includes stock-based compensation expense as follows:

Cost of revenue — product

$ 3,216

$ 1,443

$ 9,443

$ 7,056

Cost of revenue — subscription services

7,800

6,849

24,632

19,347

Research and development

49,227

43,908

150,390

126,225

Sales and marketing

24,393

19,209

72,330

55,883

General and administrative

16,436

16,557

62,161

46,732

Total stock-based compensation expense

$ 101,072

$ 87,966

$ 318,956

$ 255,243

(2) Includes expenses for severance and termination benefits related to workforce realignment and lease impairment and abandonment charges associated with cease-use of
our former corporate headquarters.

PURE STORAGE, INC.

Condensed Consolidated Statements of Cash Flows

(in thousands, unaudited)

Third Quarter of Fiscal

First Three Quarters of Fiscal

2025

2024

2025

2024

Cash flows from operating activities

Net income (loss)

$ 63,639

$ 70,389

$ 64,304

$ (4,127)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization

29,272

31,647

99,099

91,560

Stock-based compensation expense

101,072

87,966

318,956

255,243

Noncash portion of lease impairment and abandonment

—

3,270

16,766

Other

2,381

(2,815)

5,107

(5,844)

Changes in operating assets and liabilities:

Accounts receivable, net

(161,723)

(111,190)

83,998

(23,959)

Inventory

5,071

818

(1,590)

5,278

Deferred commissions

669

(9,501)

6,822

(19,061)

Prepaid expenses and other assets

(40,008)

20,044

(67,014)

19,686

Operating lease right-of-use assets

9,383

7,634

25,911

27,269

Accounts payable

33,755

7,533

20,597

33,844

Accrued compensation and other liabilities

7,781

4,767

(70,951)

(52,757)

Operating lease liabilities

(12,096)

(8,324)

(30,353)

(21,457)

Deferred revenue

57,797

59,464

86,934

110,856

Net cash provided by operating activities

96,993

158,432

545,090

433,297

Cash flows from investing activities

Purchases of property and equipment (1)

(61,788)

(45,062)

(170,641)

(151,591)

Purchases of marketable securities and other

(43,632)

(105,108)

(314,083)

(351,725)

Sales of marketable securities

12,817

3,747

61,241

52,495

Maturities of marketable securities

131,994

109,196

329,978

495,899

Net cash provided by (used in) investing activities

39,391

(37,227)

(93,505)

45,078

Cash flows from financing activities

Proceeds from exercise of stock options

3,426

3,056

21,194

32,904

Proceeds from issuance of common stock under employee stock purchase plan

26,408

23,870

51,736

45,089

Proceeds from borrowings

—

6,890

—

106,890

Principal payments on borrowings and finance lease obligations

(1,786)

(7,515)

(5,721)

(584,582)

Tax withholding on vesting of equity awards

(54,905)

(4,755)

(141,591)

(16,582)

Repurchases of common stock

(181,999)

(22,460)

(181,999)

(114,341)

Net cash used in financing activities

(208,856)

(914)

(256,381)

(530,622)

Net increase (decrease) in cash, cash equivalents and restricted cash

(72,472)

120,291

195,204

(52,247)

Cash, cash equivalents and restricted cash, beginning of period

979,807

418,860

712,131

591,398

Cash, cash equivalents and restricted cash, end of period

$ 907,335

$ 539,151

$ 907,335

$ 539,151

(1) Includes capitalized internal-use software costs of $6.0 million and $5.1 million for the third quarter of fiscal 2025 and 2024 and $15.8 million and $15.7 million for the first three quarters of fiscal 2025 and 2024.

Reconciliations of non-GAAP results of operations to the nearest comparable GAAP measures

The following table presents non-GAAP gross margins by revenue source before certain items (in thousands except percentages, unaudited):

Third Quarter of Fiscal 2025

Third Quarter of Fiscal 2024

GAAP

results

GAAP

gross

margin (a)

Adjustment

Non-

GAAP

results

Non-

GAAP

gross

margin (b)

GAAP

results

GAAP

gross

margin (a)

Adjustment

Non-

GAAP

results

Non-

GAAP

gross

margin (b)

$ 3,216

(c)

$ 1,443

(c)

103

(d)

3,306

(e)

3,306

(e)

Gross
profit —
product

$ 299,765

65.9 %

$ 6,625

$ 306,390

67.4 %

$ 326,507

72.0 %

$ 4,824

$ 331,331

73.1 %

$ 7,800

(c)

$ 6,849

(c)

368

(d)

329

(d)

Gross
profit —
subscription
services

$ 283,157

75.2 %

$ 8,168

$ 291,325

77.4 %

$ 226,240

73.1 %

$ 7,178

$ 233,418

75.4 %

$ 11,016

(c)

$ 8,292

(c)

471

(d)

404

(d)

3,306

(e)

3,306

(e)

Total gross profit

$ 582,922

70.1 %

$ 14,793

$ 597,715

71.9 %

$ 552,747

72.5 %

$ 12,002

$ 564,749

74.0 %

(a) GAAP gross margin is defined as GAAP gross profit divided by revenue.

(b) Non-GAAP gross margin is defined as non-GAAP gross profit divided by revenue.

(d) To eliminate payroll tax expense related to stock-based activities.

(e) To eliminate amortization expense of acquired intangible assets.

The following table presents certain non-GAAP consolidated results before certain items (in thousands, except per share amounts and percentages, unaudited):

Third Quarter of Fiscal 2025

Third Quarter of Fiscal 2024

GAAP

results

GAAP

operating

margin (a)

Adjustment

Non-

GAAP

results

Non-

GAAP

operating

margin (b)

GAAP

results

GAAP

operating

margin (a)

Adjustment

Non-

GAAP

results

Non-

GAAP

operating

margin (b)

$ 101,072

(c)

$ 87,966

(c)

—

580

(d)

2,991

(e)

2,604

(e)

3,536

(f)

3,718

(f)

Operating income

$ 59,687

7.2 %

$ 107,599

$ 167,286

20.1 %

$ 74,211

9.7 %

$ 94,868

$ 169,079

22.2 %

$ 101,072

(c)

$ 87,966

(c)

—

580

(d)

2,991

(e)

2,604

(e)

3,536

(f)

3,718

(f)

154

(g)

153

(g)

Net income

$ 63,639

$ 107,753

$ 171,392

$ 70,389

$ 95,021

$ 165,410

Net income per share — diluted

$ 0.19

$ 0.50

$ 0.21

$ 0.50

Weighted-average shares used in per share calculation — diluted

340,564

—

340,564

330,255

—

330,255

(a) GAAP operating margin is defined as GAAP operating income divided by revenue.

(b) Non-GAAP operating margin is defined as non-GAAP operating income divided by revenue.

(d) To eliminate payments to former shareholders of acquired company.

(e) To eliminate payroll tax expense related to stock-based activities.

(f) To eliminate amortization expense of acquired intangible assets.

(g) To eliminate amortization expense of debt issuance costs related to our debt.

Reconciliation from net cash provided by operating activities to free cash flow (in thousands except percentages, unaudited):

Third Quarter of Fiscal

2025

2024

Net cash provided by operating activities

$ 96,993

$ 158,432

Less: purchases of property and equipment (1)

(61,788)

(45,062)

Free cash flow (non-GAAP)

$ 35,205

$ 113,370

(1) Includes capitalized internal-use software costs of $6.0 million and $5.1 million for the third quarter of fiscal 2025 and 2024.

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SOURCE Pure Storage

Technology

Docking Drawer to Revolutionize Appliance Garage Safety at KBIS 2025

Published

9 minutes ago

January 11, 2025

Docking Drawer, the leader in in-drawer outlet solutions, is set to showcase its newly configured Safety Interlock Outlets for appliance garages at the Kitchen & Bath Industry Show (KBIS) in Las Vegas this February 2025.

SAN RAMON, Calif., Jan. 11, 2025 /PRNewswire-PRWeb/ — Docking Drawer’s Unwavering Dedication to Safety

“At Docking Drawer, we’re not just creating products; we’re setting new standards for safety and functionality.”

When it comes to safety, no one in the industry matches the focus and innovation of Docking Drawer. Their Safety Interlock Outlets for appliance garages bring a unique, forward-thinking solution to an often-overlooked area in kitchen design. These safety outlets automatically de-energize an appliance garage power source when the cabinet door is closed, ensuring that appliances are safely powered off when contained inside the cabinet.

Docking Drawer is also the only company dedicated to creating in-cabinet electrical solutions that meet the strict code requirements of the Canadian marketplace. Their Safety Interlock Outlets are designed to make in-cabinet electricity compliant in Canada while offering consumers in all regions an additional layer of safety for in-cabinet power.

Advanced Limit Switch Technology

Docking Drawer’s Safety Interlock Outlets for appliance garages utilize an advanced Limit Switch system, designed to work seamlessly with power outlets concealed by a cabinet door. This intuitive feature detects when the cabinet door is closed, instantly cutting power to the connected outlet and all powered appliances.

Now Compatible with Any Appliance Garage Door

An updated Limit Switch feature now offers different switch options to accommodate all appliance garage door types, including traditional cabinet doors, pocket door setups, and more. The newly designed Limit Switch now offers two functions to choose from:

Power Off When Limit Switch is Depressed: This state is ideal for traditional cabinet doors, where closing the door depresses the switch to cut power safely.Power On When Limit Switch is Depressed: This state is perfect for pocket doors, where the door being pushed back upon opening activates the switch, turning the power on.

Customizable Connectivity

The flexibility of Docking Drawer’s solutions also allows for connecting multiple limit switches to a single safety outlet or vice versa, offering customization options to adapt to the unique demands of any project.

“At Docking Drawer, we’re not just creating products; we’re setting new standards for safety and functionality,” states Scott Dickey, founder of Docking Drawer. “Our Safety Interlock Outlets represent the culmination of our dedication to innovation and empowering homeowners and professionals with safer, more organized spaces—even beyond the kitchen and bathroom.”

Join Us at KBIS 2025

Don’t miss the opportunity to experience the future of kitchen safety. Visit Docking Drawer at KBIS 2025 in Las Vegas this February to see firsthand how their Safety Interlock Outlets are revolutionizing appliance garage safety.

About Docking Drawer:

Founded in 2014, Docking Drawer offers a full array of ETL Listed electrical solutions. From our core in-drawer outlets developed specifically for use inside the drawer to our family of safety interlock outlets which add peace of mind to in-cabinet electrical setups, our products are designed to create more organized, functional and safer spaces.

Media Contact

Paul Hostelley, Docking Drawer, 1 530-362-5055, paul@dockingdrawer.com, dockingdrawer.com

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SOURCE Docking Drawer

Technology

More than 85 Governments to Gather in Riyadh to Lead Global Action on Minerals at Fourth Future Minerals Forum

Published

1 hour ago

January 11, 2025

RIYADH, Saudi Arabia, Jan. 11, 2025 /PRNewswire/ — Over 85 governments from key mineral-producing and consumer nations, including 16 countries from the leading G20 economies, and 50 ministers and 13 vice ministers – have confirmed they will join the 2025 FMF Ministerial Roundtable on January 14, 2025.

The Ministerial Roundtable, a multi-stakeholder, government-led initiative, is the traditional opener of FMF, spurring international action to increase investment in mineral supply and build capacity in the Super Region of Africa, Western and Central Asia, and other supply regions. It is set to be the largest and most senior gathering of mineral resources officials in the world

Discussion will cover progress made over the past year on the three Ministerial Roundtable initiatives:

Development of an International Critical Minerals FrameworkEstablishment of Centers of Excellence to build capacity in sustainability (Morocco), talent development (South Africa), and technology innovation (Saudi Arabia).Advancements in Certification Systems to ensure responsible mineral sourcing.

His Excellency Khalid Al-Mudaifer, the Vice-Minister for Mining Affairs of Saudi Arabia’s Ministry of Industry and Mineral Resources, emphasizes that, “The meeting is an important step towards achieving sustainable development in the minerals sector globally. It is an ideal platform for delivering solutions, developing legislation on best practices in the field of sustainable mining, and exploring ways to invest in mining projects to achieve economic and social development in producing countries.”

Joining him are high-profile leaders, including ministers from supplier and financing like Brazil, South Africa, DRC, India, Egypt, Italy, Nigeria, Qatar, Pakistan, Kazakhstan, Uzbekistan, Malaysia, Thailand, Morocco, Indonesia, France, USA and the United Kingdom, discussing opportunities for global cooperation.

“This year, discussions will seek to enhance collaboration between governments, industry, and communities to drive more investment in minerals, and development through value addition in supplier countries. We want to support the pressing need for sustainable mining practices, resilient supply chains, and value-driven partnerships in the minerals industry.”

Importantly, the outcomes of the Ministerial Roundtable are not confined to the event itself but form an ongoing, year-round program. Regional Coordination Groups will continue to drive the implementation of key initiatives.

“FMF is emerging as the largest global hub for minerals collaboration and action – no other platform brings together government ministers and senior industry leaders at this scale.” Al-Mudaifer concluded.

SOURCE Future Minerals Forum

Technology

LANDI Global Unveils Flagship Cx20: Elevating business efficiency and customer experience with a next-generation Windows-powered terminal

Published

2 hours ago

January 11, 2025

SINGAPORE, Jan. 11, 2025 /PRNewswire/ — LANDI Global proudly announces the launch of the Cx20 terminal, our flagship next-generation smart Windows Desktop POS.

Engineered for businesses that seek advanced technology and refined design, the Cx20 delivers top-tier performance with seamless compatibility. This powerful Desktop POS empowers users to handle even the most challenging tasks with confidence, making it ideal for demanding environments.

Innovation driven by market needs

The Cx20 is designed to meet the growing global demand for Windows-based Desktop POS.

With a large Windows-installed base still in use and the end of support for Windows 10, many businesses are seeking an easy migration path to Windows 11-compatible POS solutions. The Cx20 integrates seamlessly with existing Windows-based applications and back-end systems, ensuring minimal disruption and maximum compatibility.

Build for Business Demand

The Cx20 is built to meet the demands of businesses with its powerful performance, robust connectivity, and user-friendly design.

Equipped with advanced industrial control chips, running on Windows 11 IoT LTSC, the Cx20 benefits from Microsoft’s long-term support of up to 10 years+, delivering consistent performance for high-demand workloads and efficient multitasking.

Connectivity is seamless, with Wi-Fi 6e and 1000M Ethernet support, ensuring constant, reliable connectivity essential for uninterrupted business operations.

Its 15.6″ IPS with 1920×1080 resolution, multi-touch display ensures crystal-clear visuals and an intuitive user experience.

Outstanding performance and customer benefit

The Cx20 is powered by a Hexa-core Intel® i3-1215U processor, reaching speeds up to 4.4GHz. With compatibility for Windows 11 IoT, it excels at handling high-demand workloads and multitasking, making it the ideal POS solution for businesses.

Memory options range from 8GB + 256GB as a base, ensuring versatility to meet various operational needs while maintaining a seamless experience for complex tasks. The Cx20 is equipped with an integrated 80mm thermal printer featuring auto-cutter technology, ensuring efficient printing, and LANDI’s patented auto-recovery technology automatically resolves paper jams for uninterrupted service.

Distinct competitive advantages

The Cx20 stands out with its perfect blend of cutting-edge design and high-performance functionality.

Equipped with the latest Intel® processors and generous memory options, it delivers smooth operation and efficient multitasking, making it ideal for demanding retail and hospitality environments.

Cx20 features an ultra-slim triangular base for added stability and a sleek profile. With a body thickness of 4mm and a screen thickness of 8mm, it combines state-of-the-art technology.

Visit LANDI Global for more information!

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SOURCE LANDI Global