Technology
TriNet Announces Third Quarter 2024 Results
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7 hours agoon
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DUBLIN, Calif., Oct. 25, 2024 /PRNewswire/ — TriNet Group, Inc. (NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses, today announced financial results for the third quarter ended September 30, 2024. The third quarter highlights below include non-GAAP financial measures which are reconciled later in this release.
Third quarter highlights include:
Total revenues increased 1% to $1.2 billion as compared to the same period last year.Flat professional service revenues of $184 million as compared to the same period last year.Net income was $45 million, or $0.89 per diluted share, compared to net income of $94 million, or $1.63 per diluted share, in the same period last year.Adjusted Net Income was $59 million, or $1.17 per diluted share, compared to Adjusted Net Income of $109 million, or $1.91 per diluted share, in the same period last year.Adjusted EBITDA was $109 million, compared to Adjusted EBITDA of $172 million, in the same period last year.Average WSEs increased 7% as compared to the same period last year, to approximately 356,000 and includes approximately 20,000 PEO Platform Users.Average HRIS Users for the period was approximately 183,000.At September 30, 2024, TriNet had unrestricted cash and cash equivalents of $251 million, unrestricted investments of $195 million and total debt of $1.1 billion.
“Small businesses are navigating a challenging business climate, hiring very carefully, and dealing with healthcare cost inflation steeper than we have seen in several years,” said Mike Simonds, TriNet’s President and CEO. “TriNet is not immune from these conditions and higher healthcare costs adversely impacted our profitability in the quarter.”
Mr. Simonds continued, “Fortunately, our model allows us to quickly take action and align our pricing with healthcare cost trends. We repriced our largest cohort of healthcare fees on October 1, and we experienced strong customer retention. Following our January 1 renewal, we will have priced for the current elevated cost trends across more than two thirds of our PEO business. Our colleagues are extremely engaged, delivering strong service to our customers and record retention levels in 2024 despite the challenging environment. Nearly eight months into this role, I am excited by the opportunity in front of us to grow our business profitably in an increasingly focused, disciplined, and customer-centric fashion.”
Fourth Quarter and Full-Year 2024 Guidance
In addition to announcing our third quarter 2024 results, we provide our fourth quarter and full-year 2024 guidance. Non-GAAP financial measures are reconciled later in this release. Percentages reflect the increase or (decrease) from the prior year quarter and prior year end.
Q4 2024
Full Year 2024
Low
High
Low
High
Total Revenues
(1) %
2 %
1 %
2 %
Professional Service Revenues
(8) %
(5) %
— %
1 %
Insurance Cost Ratio
96.5 %
93.5 %
90.3 %
89.6 %
Diluted net income per share of common stock
$(0.19)
$0.31
$3.70
$4.20
Adjusted Net Income per share – diluted
$0.06
$0.57
$4.95
$5.45
Quarterly Report on Form 10-Q
We anticipate filing our Quarterly Report on Form 10-Q (“Form 10-Q”) for the nine months ended September 30, 2024 with the U.S. Securities and Exchange Commission (SEC) and making it available at http://www.trinet.com today, October 25, 2024. This press release should be read in conjunction with the Form 10-Q and the related Notes to Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in the Form 10-Q.
Earnings Conference Call and Audio Webcast
TriNet will host a conference call at 5:30 a.m. PT (8:30 a.m. ET) today to discuss its third quarter results for 2024 and provide fourth quarter and full-year financial guidance for 2024. TriNet encourages participants to pre-register for the conference call. Callers who pre-register will be given a unique PIN to gain immediate access to the call and bypass the live operator. To pre-register, go to: https://dpregister.com/sreg/10193255/fda58bcb7d. For those who would like to join the call but have not pre-registered, they can do so by dialing +1 (412) 317-5426 and requesting the “TriNet Conference Call.” The live webcast of the conference call can be accessed on the Investor Relations section of TriNet’s website at http://investor.trinet.com. Participants can pre-register for the webcast by going to: https://events.q4inc.com/attendee/366545303 A replay of the webcast will be available on this website for approximately one year. A telephonic replay will be available for two weeks following the conference call at +1 (412) 317-0088 conference ID: 1675204.
About TriNet
TriNet provides small and medium-size businesses (SMBs) with full-service industry-specific HR solutions, providing both professional employer organization (PEO) and human resources information system (HRIS) services. TriNet offers access to human capital expertise, benefits, risk mitigation, compliance, payroll, and R&D tax credit services, all enabled by industry-leading technology. TriNet’s suite of products also includes services and software-based solutions to help streamline workflows by connecting HR, benefits, employee engagement, payroll and time & attendance. Rooted in more than 30 years of supporting entrepreneurs and adapting to the ever-changing modern workplace, TriNet empowers SMBs to focus on what matters most – growing their business and enabling their people For more information, please visit TriNet.com or follow us on Facebook, LinkedIn and Instagram.
Use of Non-GAAP Financial Measures
Reconciliations of non-GAAP financial measures to TriNet’s financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section titled “Non-GAAP Financial Measures.”
Forward-Looking Statements
This press release contains, and statements made during the above referenced conference call will contain, statements that are not historical in nature, are predictive in nature, or that depend upon or refer to future events or conditions or otherwise contain forward-looking statements within the meaning of Section 21 of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including, among other things, TriNet’s expectations and assumptions regarding: TriNet’s financial guidance for the fourth quarter and full-year 2024 and the underlying assumptions, the value to customers and shareholders of TriNet’s product offerings, TriNet’s financial performance and long-term growth, and the extent, length and growth impact of current economic uncertainty. Forward-looking statements are often identified by the use of words such as, but not limited to, “ability,” “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “guidance,” “impact,” “intend,” “may,” “plan,” “predict,” “project,” “seek,” “should,” “strategy,” “target,” “value,” “will,” “would” and similar expressions or variations. Examples of forward-looking statements include, among others, TriNet’s expectations regarding our ability to continue to have our value proposition resonate at required pricing levels; ability to manage our expenses diligently; and our ability to meet our forecasted retention goals. These statements are not guarantees of future performance but are based on management’s expectations as of the date hereof and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from our current expectations and any past or future results, performance or achievements. Investors are cautioned not to place undue reliance upon any forward-looking statements.
Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include: our ability to manage unexpected changes in workers’ compensation and health insurance claims and costs by WSEs; our ability to mitigate the unique business risks we face as a co-employer; the effects of volatility in the financial and economic environment on the businesses that make up our client base; loss of clients for reasons beyond our control and the short-term contracts we typically use with our clients; the impact of regional or industry-specific economic and health factors on our operations; the impact of failures or limitations in the business systems and centers we rely upon; the impact of discontinuing our discretionary credits on our business and client loyalty and retention; changes in our insurance coverage or our relationships with key insurance carriers; our ability to improve our services and technology to satisfy client and regulatory expectations; our ability to effectively integrate businesses we have acquired or may acquire in the future; our ability to effectively manage and improve our operational effectiveness and resiliency; our ability to attract and retain qualified personnel; the effects of increased competition and our ability to compete effectively; the impact on our business of cyber-attacks, breaches, disclosures and other data-related incidents; our ability to protect against and remediate cyber-attacks, breaches, disclosures and other data-related incidents, whether intentional or inadvertent and whether attributable to us or our service providers; our ability to comply with evolving data privacy and security laws; our ability to manage changes in, uncertainty regarding, or adverse application of the complex laws and regulations that govern our business; changing laws and regulations governing health insurance and employee benefits; our ability to be recognized as an employer of worksite employees and for our benefits plans to satisfy all requirements under federal and state regulations; changes in the laws and regulations that govern what it means to be an employer, employee or independent contractor; the impact of new and changing laws regarding remote work; our ability to comply with the licensing requirements that govern our solutions; the outcome of existing and future legal and tax proceedings; fluctuation in our results of operations and stock price due to factors outside of our control; our ability to comply with the restrictions of our credit facility and meet our debt obligations; and the impact of concentrated ownership in our stock by Atairos and other large stockholders; and our ability to manage risks associated with our international operations. Any of these factors could cause our actual results to differ materially from our anticipated results.
Further information on risks that could affect TriNet’s results is included in our filings with the SEC, including under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on our investor relations website at http://investor.trinet.com and on the SEC website at www.sec.gov. Copies of these filings are also available by contacting TriNet Corporation’s Investor Relations Department at (510) 875-7201. Except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements in this press release, and any forward-looking statements in this press release speak only as of the date of this press release. In addition, we do not assume any obligation, and do not intend, to update any of our forward-looking statements, except as required by law.
Contacts:
Investors:
Media:
Alex Bauer
Renee Brotherton
TriNet
TriNet
(510) 875-7201
(925) 965-8441
Key Financial and Operating Metrics
We regularly review certain key financial and operating metrics to evaluate growth trends, measure our performance and make strategic decisions. These key financial and operating metrics may change over time. Our key financial and operating metrics for the periods presented were as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
(in millions, except per share and Operating Metrics data)
2024
2023
% Change
2024
2023
% Change
Income Statement Data:
Total revenues
$ 1,237
$ 1,222
1
%
$ 3,727
$ 3,677
1
%
Operating income
58
116
(50)
261
382
(32)
Net income
45
94
(52)
196
308
(36)
Diluted net income per share of common stock
0.89
1.63
(45)
3.87
5.20
(26)
Non-GAAP measures (1):
Adjusted EBITDA
109
172
(37)
425
557
(24)
Adjusted Net income
59
109
(46)
247
365
(32)
Operating Metrics:
Insurance Cost Ratio
90 %
84 %
6
%
88 %
83 %
5
Average WSEs (2)
355,948
333,286
7
351,856
329,257
7
%
Total WSEs at period end (2)
356,137
335,741
6
356,137
335,741
6
Average HRIS Users (3)
183,410
210,863
(13)
189,929
219,058
(13)
(1)
Refer to Non-GAAP measures definitions and reconciliations from GAAP measures under the heading “Non-GAAP Financial Measures”.
(2)
Total WSEs and Average WSEs include incremental WSEs that were charged a platform user access fee and incremental additional service recipients. These were identified as a result of our ongoing effort to ensure that our billing practices best match the expectations of our customers. Please refer to Management Discussion & Analysis in our 2024 10-Q.
(in millions)
September 30,
2024
December 31,
2023
%
Change
Balance Sheet Data:
Working capital
165
115
43
%
Total assets
3,729
3,693
1
Debt
1,068
1,093
(2)
Total stockholders’ equity
129
78
65
Nine Months Ended September 30,
(in millions)
2024
2023
%
Change
Cash Flow Data:
Net cash used in operating activities
$ (276)
$ (43)
542
%
Net cash used in investing activities
(25)
(57)
(56)
Net cash used in financing activities
(217)
(523)
(59)
Non-GAAP measure (1):
Corporate Operating Cash Flows
$ 213
$ 386
(45)
(1)
Refer to Non-GAAP measures definitions and reconciliations from GAAP measures under the heading “Non-GAAP Financial Measures”.
TRINET GROUP, INC.
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in millions except per share data)
2024
2023
2024
2023
Professional service revenues
$ 184
$ 185
$ 584
$ 567
Insurance service revenues
1,053
1,037
3,143
3,110
Total revenues
1,237
1,222
3,727
3,677
Insurance costs
949
874
2,772
2,594
Cost of providing services
74
74
228
231
Sales and marketing
74
75
218
214
General and administrative
46
51
140
154
Systems development and programming
17
15
52
49
Depreciation and amortization of intangible assets
19
17
56
53
Total costs and operating expenses
1,179
1,106
3,466
3,295
Operating income
58
116
261
382
Other income (expense):
Interest expense, bank fees and other
(15)
(10)
(47)
(23)
Interest income
15
18
49
57
Income before provision for income taxes
58
124
263
416
Income taxes
13
30
67
108
Net income
$ 45
$ 94
$ 196
$ 308
Other comprehensive income (loss), net of income taxes
7
(2)
4
(3)
Comprehensive income
$ 52
$ 92
$ 200
$ 305
Net income per share:
Basic
$ 0.90
$ 1.65
$ 3.91
$ 5.23
Diluted
$ 0.89
$ 1.63
$ 3.87
$ 5.20
Weighted average shares:
Basic
50
57
50
59
Diluted
50
58
51
59
TRINET GROUP, INC.
CONSOLIDATED BALANCE SHEETS (Unaudited)
September 30,
December 31,
(in millions, except share and per share data)
2024
2023
ASSETS
Current assets:
Cash and cash equivalents
$ 251
$ 287
Investments
50
65
Restricted cash, cash equivalents and investments
780
1,269
Accounts receivable, net
15
18
Unbilled revenue, net
511
447
Prepaid expenses, net
64
67
Other payroll assets
883
381
Other current assets
51
44
Total current assets
2,605
2,578
Restricted cash, cash equivalents and investments, noncurrent
153
158
Investments, noncurrent
145
143
Property and equipment, net
14
17
Operating lease right-of-use asset
30
24
Goodwill
462
462
Software and other intangible assets, net
179
172
Other assets
141
139
Total assets
$ 3,729
$ 3,693
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable and other current liabilities
$ 82
$ 87
Revolving credit agreement borrowings
75
109
Client deposits and other client liabilities
39
65
Accrued wages
566
515
Accrued health insurance costs, net
193
175
Accrued workers’ compensation costs, net
44
50
Payroll tax liabilities and other payroll withholdings
1,420
1,438
Operating lease liabilities
15
14
Insurance premiums and other payables
6
10
Total current liabilities
2,440
2,463
Long-term debt, noncurrent
993
984
Accrued workers’ compensation costs, noncurrent, net
107
120
Deferred taxes
18
13
Operating lease liabilities, noncurrent
30
30
Other non current liabilities
12
5
Total liabilities
3,600
3,615
Stockholders’ equity:
Preferred stock
—
—
Common stock and additional paid-in capital
1,037
976
Accumulated deficit
(910)
(896)
Accumulated other comprehensive loss
2
(2)
Total stockholders’ equity
129
78
Total liabilities & stockholders’ equity
$ 3,729
$ 3,693
TRINET GROUP, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
Nine Months Ended
September 30,
(in millions)
2024
2023
Operating activities
Net income
$ 196
$ 308
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization of intangible assets
56
53
Amortization of deferred costs
32
31
Amortization of ROU asset, lease modification, impairment, and abandonment
4
5
Deferred income taxes
3
—
Stock based compensation
53
43
Other
3
1
Changes in operating assets and liabilities:
Accounts receivable, net
2
(4)
Unbilled revenue, net
(64)
(29)
Prepaid expenses, net
3
(4)
Other assets
(44)
(44)
Other payroll assets
(502)
(104)
Accounts payable and other liabilities
(13)
9
Client deposits and other client liabilities
(27)
(33)
Accrued wages
52
21
Accrued health insurance costs, net
18
9
Accrued workers’ compensation costs, net
(19)
(9)
Payroll taxes payable and other payroll withholdings
(18)
(283)
Operating lease liabilities
(11)
(13)
Net cash used in operating activities
(276)
(43)
Investing activities
Purchases of marketable securities
(161)
(226)
Proceeds from sale and maturity of marketable securities
196
223
Acquisitions of property and equipment and software
(60)
(54)
Net cash used in investing activities
(25)
(57)
Financing activities
Repurchase of common stock
(155)
(1,109)
Proceeds from issuance of common stock
6
9
Proceeds from revolving credit agreement borrowings
—
695
Revolver repayment
—
(495)
Proceeds from issuance of 2031 Notes
—
400
Awards effectively repurchased for required employee withholding taxes
(18)
(14)
Payment of long-term financing fees and debt issuance costs
—
(9)
Repayment of revolving credit agreement borrowings
(25)
—
Dividends paid
(25)
—
Net cash used in financing activities
(217)
(523)
Net change in cash and cash equivalents, unrestricted and restricted
(518)
(623)
Cash and cash equivalents, unrestricted and restricted:
Beginning of period
1,466
1,537
End of period
$ 948
$ 914
Supplemental disclosures of cash flow information
Interest paid
$ 55
$ 21
Income taxes paid, net
$ 67
$ 89
Supplemental schedule of noncash investing and financing activities
Cash dividend declared, but not yet paid
$ 12
$ —
Payable for purchase of property and equipment
$ 2
$ 2
Non-GAAP Financial Measures
In addition to the selected financial measures presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP), we monitor other non-GAAP financial measures that we use to manage our business, to make planning decisions, to allocate resources and to use as performance measures in our executive compensation plan. These key financial measures provide an additional view of our operational performance over the long term and provide information that we use to maintain and grow our business.
The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation from, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with GAAP.
Non-GAAP Measure
Definition
How We Use The Measure
Adjusted EBITDA
• Net income, excluding the effects of:
– income tax provision,
– interest expense, bank fees and other,
– depreciation,
– amortization of intangible assets,
– stock based compensation expense,
– amortization of cloud computing arrangements, and
– transaction and integration costs.
• Provides period-to-period comparisons on a consistent basis and an understanding as to how our management evaluates the effectiveness of our business strategies by excluding certain non-recurring costs, which include transaction and integration costs, as well as certain non-cash charges such as depreciation and amortization, and stock-based compensation and certain impairment charges recognized based on the estimated fair values. We believe these charges are either not directly resulting from our core operations or not indicative of our ongoing operations.
• Enhances comparisons to the prior period and, accordingly, facilitates the development of future projections and earnings growth prospects.
• Provides a measure, among others, used in the determination of incentive compensation for management.
• We also sometimes refer to Adjusted EBITDA margin, which is the ratio of Adjusted EBITDA to total revenues.
Adjusted Net Income
• Net income, excluding the effects of:
– effective income tax rate (1),
– stock based compensation,
– amortization of intangible assets, net,
– non-cash interest expense,
– transaction and integration costs, and
– the income tax effect (at our effective tax rate (1) of these pre-tax adjustments.
• Provides information to our stockholders and board of directors to understand how our management evaluates our business, to monitor and evaluate our operating results, and analyze profitability of our ongoing operations and trends on a consistent basis by excluding certain non-cash charges.
Corporate Operating Cash Flows
• Net cash provided by (used in) operating activities, excluding the effects of:
– Assets associated with WSEs and TriNet Trust (accounts receivable, unbilled revenue, prepaid expenses, other payroll assets and other current assets) and
– Liabilities associated with WSEs and TriNet Trust (client deposits and other client liabilities, accrued wages, payroll tax liabilities and other payroll withholdings, accrued health insurance costs, accrued workers’ compensation costs, insurance premiums and other payables, and other current liabilities).
• Provides information that our stockholders and management can use to evaluate our cash flows from operations independent of the current assets and liabilities associated with our WSEs and TriNet Trust.
• Enhances comparisons to prior periods and, accordingly, used as a liquidity measure to manage liquidity between corporate and WSE and TriNet Trust related activities, and to help determine and plan our cash flow and capital strategies.
(1)
Non-GAAP effective tax rate is 25.6% for the third quarters and full years of 2024 and 2023, which excludes the income tax impact from stock-based compensation, changes in uncertain tax positions, and nonrecurring benefits or expenses from federal legislative changes.
(2)
Non-cash interest expense represents amortization and write-off of our debt issuance costs and loss on a terminated derivative.
Reconciliation of GAAP to Non-GAAP Measures
The table below presents a reconciliation of net income to Adjusted EBITDA:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in millions)
2024
2023
2024
2023
Net income
$ 45
$ 94
$ 196
$ 308
Provision for income taxes
13
30
67
108
Stock based compensation
15
15
53
43
Interest expense, bank fees and other
15
10
47
23
Depreciation and amortization of intangible assets
19
17
56
53
Amortization of cloud computing arrangements
2
3
6
7
Transaction and integration costs
—
3
—
15
Adjusted EBITDA
$ 109
$ 172
$ 425
$ 557
Adjusted EBITDA Margin
8.8 %
14.1 %
11.4 %
15.1 %
The table below presents a reconciliation of net income to Adjusted Net Income and Adjusted Net Income per share – diluted:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in millions, except per share data)
2024
2023
2024
2023
Net income
$ 45
$ 94
$ 196
$ 308
Effective income tax rate adjustment
(2)
(2)
—
1
Stock based compensation
15
15
53
43
Amortization of intangible assets
5
5
14
16
Non-cash interest expense
1
—
2
1
Transaction and integration costs
—
3
—
15
Income tax impact of pre-tax adjustments
(5)
(6)
(18)
(19)
Adjusted Net Income
$ 59
$ 109
$ 247
$ 365
GAAP weighted average shares of common stock – diluted
50
58
51
59
Adjusted Net Income per share – diluted
$ 1.17
$ 1.91
$ 4.88
$ 6.16
The table below presents a reconciliation of net cash provided by operating activities to Corporate Operating Cash flows:
Nine Months Ended
September 30,
(in millions)
2024
2023
Net cash used in operating activities
$ (276)
$ (43)
Less: Change in WSE & TriNet Trust related other current assets
(548)
(134)
Less: Change in WSE & TriNet Trust related current liabilities
59
(295)
Net cash used in operating activities – WSE & TriNet Trust
$ (489)
$ (429)
Net cash provided by operating activities – Corporate
$ 213
$ 386
Reconciliation of GAAP to Non-GAAP Measures for the fourth quarter and full-year 2024 guidance.
Low and high percentages represent increases (decreases) from the same periods in the previous year.
The table below presents a reconciliation of net income to Adjusted Net Income and Adjusted Net Income per share – diluted:
Q4 2023
Q4 2024 Guidance
FY 2023
Year 2024 Guidance
(in millions, except per share data)
Actual
Low
High
Actual
Low
High
Net income
$67
(114) %
(77) %
$375
(50) %
(44) %
Effective income tax rate adjustment
(3)
(73)
(59)
(2)
(28)
(3)
Stock based compensation
16
(17)
(12)
59
11
13
Amortization of intangible assets
5
1
1
20
(5)
(5)
Non-cash interest expense
1
(100)
(100)
2
(20)
(20)
Transaction and integration costs
2
(100)
(100)
17
(100)
(100)
Income tax impact of pre-tax adjustments
(6)
(24)
(20)
(25)
(12)
(11)
Adjusted Net Income
$82
(96) %
(65) %
$446
(44) %
(38) %
GAAP weighted average shares of common stock – diluted
51
57
Adjusted Net Income per share – diluted
$1.60
$0.06
$0.57
$7.81
$4.95
$5.45
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SOURCE TriNet Group, Inc.
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“As a Howard alum, this project was personal for me,” says UPROXX’s Head of Video Production, Steve Vasquez Jr. “It gave me the opportunity to showcase the creativity and standard of excellence I put into my work.”
“Halftime” chronicles the creative journey following Just Blaze, Chancellor Mills, Director of Bands at Howard University, and The Showtime Marching Band leading up to the performance. It spotlights the artistry and cultural significance of HBCU marching bands and showcases Howard’s rich musical legacy. Providing educational opportunities for students, UPROXX Studios collaborated with Chadwick A. Boseman College of Fine Arts, onboarding interns for hands-on experience in media production and event coordination. This partnership underscores State Farm and UPROXX’s commitment to fostering community while investing in the future of HBCU students.
“Halftime” premieres on YouTube at www.youtube.com/@uproxxlife starting October 25. For more information visit www.uproxx.com.
About UPROXX Studios:
UPROXX Studios offers insights from authentic creative minds and operates on a massive, popular scale. It is a brand solutions studio shaped by visionaries who both imagine what culture could be and actively create it, connecting brands with talent, cultural arenas, and audiences. Its network UPROXX, HipHopDX, Dime Magazine, and partnership with Warner Music, collaborates with cultural innovators to cultivate niche audiences through original editorial and video content.
About State Farm:
For over 100 years, the mission of State Farm has been to help people manage the risks of everyday life, recover from the unexpected and realize their dreams. State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its more than 19,400 agents and 67,000 employees serve over 91 million policies and accounts.
View original content to download multimedia:https://www.prnewswire.com/news-releases/uproxx-studios-and-state-farm-present-halftime-series-featuring-just-blaze-and-howard-universitys-showtime-marching-band-302287558.html
SOURCE UPROXX
Technology
Access Healthcare Showcases Innovative RCM Solutions at the 2024 AHIMA Conference
Published
55 mins agoon
October 25, 2024By
DALLAS, Oct. 25, 2024 /PRNewswire/ — Access Healthcare, a global leader in revenue cycle management (RCM) services, will attend the AHIMA Conference from Sunday, October 27, through Tuesday, October 29, in Salt Lake City, Utah. As a premier provider of modern RCM solutions, Access Healthcare addresses critical industry challenges, including rising denial rates, escalating costs, and a shortage of skilled labor. The company is dedicated to transforming the healthcare landscape with innovative technologies designed to enhance the efficiency and effectiveness of revenue cycle operations.
Attendees are invited to visit Access Healthcare at booth #1426, where their team will be available to discuss cutting-edge RCM technologies tailored for hospitals, health systems, and physician groups. Participants will also have the opportunity to learn about Access Healthcare’s recent transformation of a client’s clinical documentation and coding processes, along with strategies for overcoming coding challenges in inpatient/outpatient settings within a major integrated health system.
“This event will provide an opportunity to showcase how our 3,500+ expert medical coders and CDI professionals, assisted by our technology-driven global delivery model, are helping thousands of healthcare organizations achieve their high-quality patient care goals and improve overall financial efficiency,” said Kumar Shwetabh, President and Chief Growth Officer of Access Healthcare.
Access Healthcare continues to lead the way in managing the business of healthcare, ensuring that providers can focus on their patients. Known for investing deeply in developing AI-driven solutions to improve the quality and pace of service delivery, the global organization has distinguished itself as a trusted partner for healthcare organizations by providing end-to-end revenue cycle solutions that boost financial performance, address workforce challenges, and optimize operations.
Join us at the AHIMA Conference to discover how our innovative approaches can help transform your organization’s revenue cycle processes.
For more information, please visit www.accesshealthcare.com
About Access Healthcare
Access Healthcare is a leading provider of revenue cycle management services, specializing in medical billing, coding, and accounts receivable management. With a global presence and a commitment to innovation, Access Healthcare delivers efficient, leading-edge solutions to healthcare organizations. Learn more at Access Healthcare.
View original content to download multimedia:https://www.prnewswire.com/news-releases/access-healthcare-showcases-innovative-rcm-solutions-at-the-2024-ahima-conference-302287560.html
SOURCE Access Healthcare
Technology
CTEK Charging: The Power Behind a Successful Show
Published
56 mins agoon
October 25, 2024By
Tips for a Successful SEMA Show
CHICAGO, Oct. 25, 2024 /PRNewswire/ — The SEMA Show is one of the most anticipated automotive events of the year, where the world’s top builders, manufacturers, and enthusiasts come together to showcase the latest innovations in the industry. With hundreds of cars on display for days, one crucial but often overlooked element is effective battery management. A dead battery or unreliable power can bring even the most stunning vehicle to a halt.
SEMA is an opportunity to present your vehicle at its best, and with so much riding on a successful presentation, proper battery management is essential. CTEK‘s range of smart chargers and monitoring tools provide a reliable solution for exhibitors, ensuring vehicles are charged, protected, and ready to showcase. Whether it’s for high-performance cars, classic restorations, or cutting-edge electric vehicles, keeping vehicles in optimal condition is key to success. CTEK, the leading global brand in vehicle charging technology, has emerged as an essential partner for ensuring vehicles remain charged and ready throughout the show.
At this year’s event, several prominent auto specialists have chosen CTEK to guarantee their vehicles perform at their best. Kevin McDonnell, Director of Operations at Boden Autohaus, highlighted the critical role CTEK plays in maintaining their vehicles: “We want to make sure everything is kept in tip-top shape. So that’s why we’ve chosen CTEK.”
CTEK’s range of chargers ensures that vehicles are not only fully powered but also protected from any potential damage caused by improper charging. The brand’s state-of-the-art technology extends battery life and optimizes performance, making it the go-to choice for top-tier auto professionals.
Rob Lindsey, owner of RJ Fab, shared his appreciation for CTEK’s reliability: “Thanks CTEK Charging for keeping us charged up!”
CTEK, the global leader in battery charging solutions, is sharing essential tips to ensure your vehicle stays powered up and ready to impress throughout the show like the pros.
Charge Before Arrival It’s crucial to start the SEMA show with a fully charged battery. Before transporting your vehicle to the event, make sure it’s fully charged using a reliable charger. CTEK’s smart chargers, like the CT5 TIME TO GO or the MXS 5.0, provide safe, efficient charging and ensure your battery is in prime condition before the event begins.
Maintain Charge During the Show With vehicles often sitting idle during shows, the risk of battery drain is high. To avoid embarrassment and ensure your car is ready at all times, use a maintenance charger like the CTEK MXS 5.0 during the event. These smart chargers are designed to deliver a steady charge without overloading or damaging your battery, keeping it at optimal levels throughout the show.
Monitor Battery Health It’s easy to get caught up in the excitement of SEMA, but battery health should remain a priority. CTEKs PRO25S or MXS 5.0 also allow you to monitor your vehicle’s battery status in real-time. This way, you can detect potential issues early and avoid any last-minute hiccups.
Avoid Quick-Fix Charging Solutions While it might be tempting to rely on quick charging solutions, these can do more harm than good. Always use smart chargers that automatically adjust to the needs of your battery, ensuring a safe and gradual charge. CTEK’s technology is specifically designed to extend battery life and prevent overcharging, ensuring your vehicle is always ready to perform.
Protect Against Power Interruptions Unexpected power loss can be a major issue during large events like SEMA. To safeguard your vehicle, use a CTEK PRO25S to ensure your battery receives continuous power even during high-demand situations. This is especially important if your vehicle relies on complex electronics or if you’re frequently showcasing features that consume energy.
From high-demand environments like auto shows to everyday garage use, CTEK is committed to providing industry-leading charging solutions that ensure your vehicle’s battery health is maintained to the highest standard. With the confidence that their cars will stay powered and protected, professionals like McDonnell and Lindsey can focus on what matters most: delivering an unforgettable experience to show attendees.
For more information about CTEK’s participation in the SEMA Show 2024, please visit www.CTEK.com.
About CTEK
• Established in Dalarna, Sweden, CTEK is the leading global brand in vehicle charging solutions.
• CTEK offers products ranging from 12V and 24V battery chargers to charging solutions for electrical vehicles. CTEK’s E-mobility solutions range from individual EV chargers to larger corporate and commercial installations with multiple charging stations, that require load balancing and integrate seamlessly with monitoring and payment equipment.
• CTEK’s products are sold via a carefully selected network of global distributors and retailers: as original equipment; supplied to more than 50 of the world’s leading vehicle manufacturers; and through charge point operators, property owners and other organizations/individuals providing EV charging infrastructure.
• CTEK takes pride in its unique culture based on a passion for innovation and a deep commitment to supporting the transition to a greener mobility, by adhering to industry leading ESG standards.
Press Contact:
Michelle Suzuki
310-930-6655
View original content to download multimedia:https://www.prnewswire.com/news-releases/ctek-charging-the-power-behind-a-successful-show-302287399.html
SOURCE CTEK
UPROXX STUDIOS AND STATE FARM PRESENT “HALFTIME” SERIES FEATURING JUST BLAZE AND HOWARD UNIVERSITY’S SHOWTIME MARCHING BAND
Access Healthcare Showcases Innovative RCM Solutions at the 2024 AHIMA Conference
CTEK Charging: The Power Behind a Successful Show
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