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Achieves Strong Financial Performance; Continuing To Deliver Shareholder Value

VANCOUVER, BC / ACCESS Newswire / August 13, 2025 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(FSE:GV6) a long-standing silver producer in Mexico, announces its unaudited consolidated interim financial results for the second quarter of 2025. All amounts are in U.S. dollars unless stated otherwise.

“We are very pleased to report another quarter of strong financial performance for Avino,” said David Wolfin, President and CEO. “The second quarter of 2025 reflects the positive impact of improved mill availability and the operational discipline demonstrated by our team. Revenue and profitability were supported by higher-than-forecasted tonnes milled and continued improvements in plant efficiency. With two strong quarters behind us, we are firmly on track to meet our 2025 financial and operational targets. At La Preciosa, development and blasting activities continue to advance toward the Abundancia vein structure and we are progressing towards the milestone of bringing La Preciosa material into production. With solid financial results from the Avino Mine and continued progress at La Preciosa, we remain on track with our transformational growth strategy.”

Second Quarter 2025 Financial Highlights (compared to Q2 2024)

• Robust Revenues: Avino realized revenues of $21.8 million, representing a 47% increase from $14.8 million, primarily as a result of increased metal prices and consistent production. At the end of the quarter, there was $5.2 million in concentrate sales receivable converted to cash subsequent to quarter end.

• Quarterly Profits: Net income after taxes was $2.9 million, or $0.02 per share, an increase from $1.2 million, or $0.01 per share.

• Operating Margins Remain Elevated: Gross profit, or mine operating income, was $10.2 million and represented an increase of 118% from $4.8 million. The significant improvement was a result of meaningful unit cost reductions from economies of scale, with 36% higher tonnes milled. This is the third consecutive quarter of over $10 million in mine operating income reported.

• Strong EBITDA and Adjusted Earnings: The Company realized earnings before interest, taxes, depreciation and amortization, or EBITDA, of $7.4 million, up 118% from $3.4 million. Adjusted earnings³ was $8.8 million, or $0.06 per share, an increase of 103% from $4.3 million and $0.03 per share.

• Improved Costs per Ounce Metrics: Cash costs per silver equivalent payable ounce sold^1,2,3 was $15.11, and all-in sustaining cash costs per silver equivalent payable ounce sold^1,2,3 was $20.93, a reduction of 7% and 8%, respectively.

• Increased Working Capital from Cash Flow: The Company’s balance sheet continued to strengthen with working capital¹ increasing to $40.6 million, up $9.2 million, or 30% from $31.3 million at the end of Q1 2025, as a result of another quarter of cash generation. Cash provided by operating activities of $8.3 million or $0.06 per share. Prior to working capital movements, cash generated from operating activities was $6.3 million, or $0.04 per share.

• Index Inclusion in Q2 2025: Early July, Avino was included in the S&P/TSX Global Mining Index having been officially recognized as part of a global benchmark for the mining sector. In addition, as announced on May 1, 2025, Avino received inclusion into the Solactive Global Silver Miners Index, further solidifying Avino as an established silver producer with a growing production profile. Avino expects further index inclusion in the coming months which should provide additional liquidity and opportunities for increasing institutional ownership.

Operational and Financial Highlights

2nd Quarter Operating Highlights (Compared to Q2 2024)

• Silver Equivalent Production Increased 5%: Avino produced 645,602 silver equivalent ounces in Q2 2025, representing a 5% increase from Q2 of 2024. This increase was driven by significantly improved mill availability, with our highest quarterly mill throughput in history. This record throughput was partially offset by lower feed grades in all three metals (silver, gold and copper), as we moved through a lower grade section of the mine plan.

• Record Mill Throughput: In Q2 2025, Avino achieved 36% higher mill throughput versus Q2 2024, totalling a quarterly record of 190,987 tonnes of material. These throughput levels were a result of previous upgrades and automation enhancements made by our operations team, demonstrating significant improvements in mill availability.

• Gold Production Increased 17%: Q2 2025 production of 1,774 gold ounces represented a 17% increase compared to Q2 2024. This improved production resulted from the increased tonnes processed, alongside significant improvements in gold recoveries to 74% from 70% in Q2 of 2024.

• Copper Production Increased 12%: Avino produced 1.5 million pounds of copper in Q2 2025, a 12% increase compared to Q2 2024.

• Silver Production decreased 3%: Silver production for Q2 2025 was 283,619 ounces, representing a 3% decrease compared to Q2 2024.

La Preciosa Update

Blasting and construction of the relatively short 360 meter San Fernando main access decline is underway, and equipment mobilization has been swift, allowing development to advance on plan. The new jumbo drill is working on this ramp as it progresses toward intercepting the Gloria and Abundancia veins. Site services have been installed and an existing building has been renovated for site personnel. Recent photos showcasing the work at La Preciosa are available on the Avino website – click here to view them.

2025 Capital Expenditures

Capital expenditures for the first half of 2025, including lease and loan payments on equipment, were $6.9 million, compared to $4.4 million for the same period in 2024, on track for our capital expenditure guidance previously disclosed in our 2025 outlook news release.

ESG Initiatives

Avino follows the ESG Standards and the United Nations Sustainable Development goals. There are 17 Sustainable Development Goals (SDGs), which were developed as a call to action by all countries developed and developing in a global partnership.

Avino has published it’s Inaugural Sustainability Report on the website, click here to view. This marks a major milestone in our journey toward greater accountability and responsible growth and it reflects our commitment to transparency, continuous improvement, and long-term value creation for all stakeholders.

Strategic projects in the communities that commenced during the second quarter include: Delivery of low cost water tanks and cisterns, a trench was formed to channel rainwater from the mine, a 5 hectare community reforestation has been approved, a total of 67 families in the communities received solar boilers at reduced cost, made possible through company-led facilitation of a subsidy program, and a donation was made to the Mining and History Museum in the City of Durango.

Mexican nationals account for 100% of our mine work force. Currently, we have approximately 483 direct jobs which includes the workers at the mine site and in our Durango offices.

The earnings should be read in conjunction with the Company’s Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the corresponding period, which can be viewed on the Company’s website at www.avino.com, or on SEDAR+ at www.sedarplus.ca or on EDGAR at www.sec.gov.

Qualified Person

Peter Latta, P. Eng, MBA, VP Technical Services, Avino, who is a qualified person within the context of National Instrument 43-101, has reviewed and approved the technical data in this news release.

Non-IFRS Accounting Standards Measures

The financial results in this news release include references to non-IFRS Accounting Standards measures. These measures are used by the Company to manage and evaluate the operating performance of the Company’s mining operations and are widely reported in the silver and gold mining industry as benchmarks for performance, but do not have standardized meanings prescribed by IFRS. For a reconciliation of non-GAAP and GAAP measures, please refer to the “Non-IFRS Accounting Standards Measures” section of the Company’s MD&A dated August 13, 2025 for the six months ended June 30, 2025, which is incorporated by reference within this news release and available on SEDAR+ at www.sedarplus.ca.

Conference Call and Webcast

The Company’s unaudited condensed consolidated interim financial statements for the Second Quarter 2025, will be released after the market closes on Wednesday, August 13, 2025.

A conference call to discuss the Company’s Q2 2025 operational and financial results will be held on Thursday, August 14, 2025, at 8:00 a.m. PT / 11:00 a.m. ET. To participate in the conference call or follow the webcast, please see the details below.

Shareholders, analysts, investors, and media are invited to join the webcast and conference call by logging in here Avino’s Q2 2025 Financial Results or by dialing the following numbers five to ten minutes prior to the start time.

Toll Free: 888-506-0062
International: +1 973-528-0011
Participant Access Code: 992730

Participants will be greeted by an operator and asked for the access code. If a caller does not have the code, they can reference the company name. Participants will have the opportunity to ask questions during the Q&A portion.

The conference call and webcast will be recorded, and the replay will be available on the Company’s website later that day.

About Avino

Avino is a silver producer from its wholly owned Avino Mine near Durango, Mexico. The Company’s silver, gold and copper production remains unhedged. The Company intends to maintain long term sustainable and profitable mining operations to reward shareholders and the community alike through our growth at the historic Avino Property and the strategic acquisition of the adjacent La Preciosa which was finalized in Q1 2022. Early in 2024, the pre-feasibility Study on the Oxide Tailings Project was completed. This study is a key milestone in our growth trajectory. As part of Avino’s commitment to adopting sustainable practices, we have been operating a dry-stack tailings facility for more than two years with excellent results. We are committed to managing all business activities in a safe, environmentally responsible, and cost-effective manner, while contributing to the well-being of the communities in which we operate. We encourage you to connect with us on X (formerly Twitter) at @Avino_ASM and on LinkedIn at Avino Silver & Gold Mines. To view the Avino Mine VRIFY tour, please click here.

For Further Information, Please Contact:

Investor Relations
Tel: 604-682-3701
Email: IR@avino.com

This news release contains “forward-looking information” and “forward-looking statements” (together, the “forward looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including the mineral resource estimate for the Company’s Avino Property, including La Preciosa, located near Durango in west-central Mexico (the “Avino Property”) with an effective date of October 16, 2023 and can be viewed within Avino’s latest technical report dated February 5, 2024 for the Pre-feasibility Study and references to to Measured, Indicated Resources, and Proven and Probable Mineral Reserves referred to in this press release. This information and these statements, referred to herein as “forward-looking statements” are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the estimated amount and grade of mineral reserves and mineral resources, including the cut-off grade; (ii) estimates of the capital costs of constructing mine facilities and bringing a mine into production, of operating the mine, of sustaining capital, of strip ratios and the duration of financing payback periods; (iii) the estimated amount of future production, both ore processed and metal recovered and recovery rates; (iv) estimates of operating costs, life of mine costs, net cash flow, net present value (NPV) and economic returns from an operating mine; and (v) the completion of the full Technical Report, including a Preliminary Economic Assessment, and its timing. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “envisages”, “assumes”, “intends”, “strategy”, “goals”, “objectives” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are made as of the date of this news release and the dates of technical reports, as applicable. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements.

Cautionary note to U.S. Investors concerning estimates of Mineral Reserves and Mineral Resources

All reserve and resource estimates reported by Avino were estimated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards. The U.S. Securities and Exchange Commission (“SEC”) now recognizes estimates of “measured mineral resources,” “indicated mineral resources” and “inferred mineral resources” and uses new definitions of “proven mineral reserves” and “probable mineral reserves” that are substantially similar to the corresponding CIM Definition Standards. However, the CIM Definition Standards differ from the requirements applicable to US domestic issuers. US investors are cautioned not to assume that any “measured mineral resources,” “indicated mineral resources,” or “inferred mineral resources” that the Issuer reports are or will be economically or legally mineable. Further, “inferred mineral resources” are that part of a mineral resource for which quantity and grade are estimated on the basis of limited geologic evidence and sampling. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Footnotes:

1. In Q2 2025, AgEq was calculated using metal prices of $33.64 per oz Ag, $3,280 per oz Au and $4.32 per lb Cu. In Q2 2024, AgEq was calculated using metals prices of $28.86 oz Ag, $2,331 oz Au and $4.43 lb Cu. For YTD 2025, AgEq was calculated using metal prices of $32.77 per oz Ag, $3,071 per oz Au and $4.28 per lb Cu. For YTD 2024, AgEq was calculated using metal prices of $26.11 oz Ag, $2,205 oz Au and $4.13 lb Cu. Calculated figures may not add up due to rounding.

2. “Silver equivalent payable ounces sold” for the purposes of cash costs and all-in sustaining costs consists of the sum of payable silver ounces, gold ounces and copper tonnes sold, before penalties, treatment charges, and refining charges, multiplied by the ratio of the average spot gold and copper prices to the average spot silver price for the corresponding period.

3. Non-IFRS Accounting Standard measure. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning under IFRS Accounting Standards and the calculation methods may differ from methods used by other companies with similar reported measures. See Non-IFRS Accounting Standards Measures section for further information and detailed reconciliations.

SOURCE: Avino Silver & Gold Mines Ltd.

View the original press release on ACCESS Newswire

JACKSONVILLE, FL / ACCESS Newswire / August 13, 2025 / GEE Group Inc. (NYSE American:JOB) together with its subsidiaries (collectively referred to as the “Company,” “GEE Group,” “our” or “we”), a provider of professional staffing services and human resource solutions, today announced consolidated results for the fiscal 2025 third quarter and year to date periods ended June 30, 2025. The Company’s contract and placement services are currently provided under its Professional Staffing Services operating division or segment. The operations and substantially all the assets of the Company’s former Industrial Staffing Services segment were sold during the quarter and are characterized as discontinued operations as of June 30, 2025 and excluded from the results of continuing operations reported below, unless otherwise stated. All amounts presented herein are consolidated or derived from consolidated amounts, and are rounded and represent approximations, accordingly.

Fiscal 2025 Third Quarter and YTD Continuing Operations Highlights

• On January 3, 2025, the Company acquired Hornet Staffing, Inc. Hornet provides staffing solutions to markets serving large scale, “blue chip” companies in the information technology, professional and customer service staffing verticals. The Company expects the Hornet acquisition to enhance its ability to compete more effectively and anticipate it helping to secure new business from Fortune 1000 and other large users of contingent and outsourced labor. Hornet’s workforce solutions include significant expertise in working with managed service providers (“MSP”) and vendor management systems (“VMS”) utilizing a highly efficient offshore recruiting team to fill job orders.

GEE Group Inc. will hold an investor webcast/conference call on Thursday, August 14, 2025 at 11a.m. EDT to review and discuss the fiscal 2025 third quarter and YTD results. The Company’s prepared remarks will be posted on its website www.geegroup.com prior to the call.

Investor Conference Call/Webcast Information:

The investor conference call will be webcast, and you should pre-register in advance for the event to view and/or listen via the internet by clicking on the link below to join the conference call/webcast from your laptop, tablet or mobile device. Audio will stream through your selected device, so be sure to have headphones or your volume turned up. Questions can be submitted via email after the prepared remarks are delivered with management responding real time. A full replay of the investor conference call/webcast will be available at the same link shortly after the conclusion of the live event.

Audience Event Link:

https://event.webcasts.com/starthere.jsp?ei=1730678&tp_key=e4fb7f9677

A confirmatory email will be sent to each registrant to acknowledge a successful registration.

Management Comments

Derek E. Dewan, Chairman and Chief Executive Officer of GEE Group, commented, “The Company delivered a resilient quarter and continues to adjust its business plan including targeting new revenue generating opportunities, aggressively implementing “AI” tools to maximize efficiency and accelerating the reduction of recurring expenses in a challenging and uncertain macroeconomic environment. The use of contingent labor and volume of full-time hires has lessened in fiscal 2024 and the first half of fiscal 2025, but appears to have stabilized somewhat as businesses are beginning to initiate new projects which presumably will lead to more job orders and full-time and contingent labor placements. We also believe that AI is fast becoming a disruptor in the staffing industry. Therefore, GEE Group has implemented and incorporated “AI” in its strategic plan internally to enhance its recruiting and sales efforts, and to provide its clients with the necessary human resources to implement and support their use of AI to create increased efficiency and profitability.”

Mr. Dewan added, “Our demand environment for the remainder of 2025 is expected to be somewhat volatile but we anticipate that it will gradually improve and the Company plans to increase its market share irrespective of overall growth in the staffing industry with an aggressive AI assisted sales process, increased use of offshore recruiting to maximize fill rates more efficiently and provide clients with more value added services including human resources (“HR”) consulting, information technology (“IT”) statement of work (“SOW”) project capability, resource process outsourcing (“RPO”) and other higher-end service offerings. We are tightly managing costs and continually evaluating GEE’s expenses and expect to further streamline our business and significantly reduce costs. The Company has a strong balance sheet with a current ratio of 4.2 and substantial liquidity resources, both in cash and borrowing capacity. GEE Group’s dedicated, tenured employees and select new hires continue to provide outstanding customer service and remain committed to growing our business.”

Additional Information to Consider in Conjunction with the Press Release

The aforementioned Fiscal 2025 Third Quarter and YTD Highlights and Results should be read in conjunction with all of the financial and other information included in GEE Group’s most recent Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, as well as any applicable recent Current Reports on Forms 8-K and 8-K/A, Registration Statements and Amendments on Forms S-1 and S-3, and Information Statements on Schedules 14A and 14C, filed with the SEC. The discussion of financial results in this press release, and the information presented herein, include the use of non-GAAP financial measures. Schedules are attached hereto which reconcile the related financial items prescribed by accounting principles generally accepted in the United States (“GAAP” or “U.S. GAAP”) to the non-GAAP financial information. These non-GAAP financial measures are not a substitute for the comparable measures prescribed by GAAP as further discussed below in this press release. See “Use of Non-GAAP Financial Measures” and the reconciliations of Non-GAAP Financial Measures used in this press release with the Company’s corresponding financial measures presented in accordance with U.S. GAAP below.

Financial information provided in this press release also may consist of or refer to estimates, projected or pro forma financial information and certain assumptions that are considered forward looking statements, are predictive in nature and depend on future events, and any such predicted or projected financial or other results may not be realized nor are they guarantees of future performance. See “Forward-Looking Statements Safe Harbor” below which incorporates “Risk Factors” which may possibly have a negative effect on the Company’s business.

Use of Non-GAAP Financial Measures

The Company discloses certain non-GAAP financial measures in this press release, including adjusted net loss, EBITDA, adjusted EBITDA, and free cash flow. Management and the Board of Directors use and refer to these non-GAAP financial measures internally as a supplement to financial information presented in accordance with U.S. GAAP. Non-GAAP financial measures are used for purposes of evaluating operating performance, financial planning purposes, establishing operational and budgetary goals, compensation plans, analysis of debt service capacity, capital expenditure planning and determining working capital needs. The Company also believes that these non-GAAP financial measures are considered useful by investors.

Non-GAAP adjusted net loss is defined as net loss adjusted for non-cash stock compensation expenses, acquisition, integration, restructuring and other non-recurring expenses, capital market-related expenses, and gains or losses on extinguishment of debt or sale of assets. Non-GAAP EBITDA is defined as net loss before interest, taxes, depreciation and amortization. Non-GAAP adjusted EBITDA is defined as EBITDA, adjusted for the same items used to derive non-GAAP adjusted net loss. Non-GAAP free cash flow is defined as cash flows from operating activities, less capital expenditures.

Non-GAAP adjusted net loss, EBITDA, adjusted EBITDA, and free cash flow are not terms proscribed or defined by GAAP and, as a result, the Company’s measure of them may not be comparable to similarly titled measures used by other companies. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP financial measures discussed above should be considered in addition to, and not as substitutes for, nor as being superior to net loss reported in the consolidated statements of income, cash and cash flows reported in the consolidated statements of cash flows, or other measures of financial performance reflected in the Company’s consolidated financial statements prepared in accordance with U.S. GAAP included in Form 10-K and Form 10-Q for their respective periods filed with the SEC, which should be read and referred to in order to obtain a comprehensive and thorough understanding of the Company’s financial results. The reconciliations of net loss to non-GAAP adjusted net loss, net loss to non-GAAP EBITDA and non-GAAP adjusted EBITDA, and cash flows from operating activities to non-GAAP free cash flows referred to in the highlights or elsewhere in this press release are provided in the following schedules that also form a part of this press release.

Reconciliation of Net Loss from Continuing Operations to
Non-GAAP EBITDA and Adjusted EBITDA
Three Month Periods Ended June 30,
(In thousands)

Reconciliation of Net Loss from Continuing Operations to
Non-GAAP EBITDA and Adjusted EBITDA
Nine Month Periods Ended June 30,
(In thousands)

Reconciliation of Net Cash provided by (used in) Operating
Activities to Non-GAAP Free Cash Flow
Nine Month Periods Ended June 30,
(In thousands)

GEE GROUP INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
(Amounts in thousands except per share data)

GEE GROUP INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)

About GEE Group

GEE Group Inc. is a provider of specialized staffing solutions and is the successor to employment offices doing business since 1893. The Company provides professional staffing services and solutions in information technology, engineering, finance and accounting specialties through the names of Access Data Consulting, Agile Resources, Omni-One, and Paladin Consulting. Also, in the healthcare sector, GEE Group, through its Scribe Solutions brand, staffs medical scribes who assist physicians in emergency departments of hospitals and in medical practices by providing required documentation for patient care in connection with electronic medical records (EMR). The Company provides contract and direct hire professional staffing services through the following SNI brands: Accounting Now®, SNI Technology®, Legal Now®, SNI Financial®, Staffing Now®, SNI Energy®, and SNI Certes. On January 3, 2025, the Company acquired Hornet Staffing, Inc., which is now part of its professional contract services offerings.

Forward-Looking Statements Safe Harbor

In addition to historical information, this press release contains statements relating to possible future events and/or the Company’s future results (including results of business operations, certain projections, future financial condition, pro forma financial information, and business trends and prospects) that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, (the “Exchange Act”), and the Private Securities Litigation Reform Act of 1995 and are subject to the “safe harbor” created by those sections. The statements made in this press release that are not historical facts are forward-looking statements that are predictive in nature and depend upon or refer to future events. These forward-looking statements include, without limitation, anticipated cash flow generation and expected shareholder benefits. Such forward-looking statements often contain, or are prefaced by, words such as “will”, “may,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “pro forma”, “estimates,” “aims,” “believes,” “hopes,” “potential,” “intends,” “suggests,” “appears,” “seeks,” or variations of such words or similar words and expressions of future tense. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and, consequently, as a result of a number of factors, the Company’s actual results could differ materially from those expressed or implied by such forward-looking statements. The international pandemic, the “Novel Coronavirus” (“COVID-19”), negatively impacted and disrupted the Company’s business operations and had a significant negative impact on the global economy and employment in general, resulting in, among other things, a lack of demand for the Company’s services. This was exacerbated by government and client directed “quarantines”, “remote working”, “shut-downs” and “social distancing”. Some of these outcomes or by-products of the pandemic have persisted in one form or another since and there is no assurance that conditions will ever fully return to their former pre-pandemic status quo. These and certain other factors that might cause the Company’s actual results to differ materially from those in the forward-looking statements include, without limitation: (i) the loss, default or bankruptcy of one or more customers; (ii) changes in general, regional, national or international economic conditions; (iii) an act of war or terrorism, industrial accidents, or cyber security breach that disrupts business; (iv) changes in the law and regulations; (v) the effect of liabilities and other claims asserted against the Company including the failure to repay indebtedness or comply with lender covenants including the lack of liquidity to support business operations and the inability to refinance debt, failure to obtain necessary financing or the inability to access the capital markets and/or obtain alternative sources of capital; (vi) changes in the size and nature of the Company’s competition; (vii) the loss of one or more key executives; (viii) increased credit risk from customers; (ix) the Company’s failure to grow internally or by acquisition or the failure to successfully integrate acquisitions; (x) the Company’s failure to improve operating margins and realize cost efficiencies and economies of scale; (xi) the Company’s failure to attract, hire and retain quality recruiters, account managers and salesmen; (xii) the Company’s failure to recruit qualified candidates to place at customers for contract or full-time hire; (xiii) the adverse impact of geopolitical events, government mandates, natural disasters or health crises, force majeure occurrences, future global pandemics such as COVID-19 or other harmful viral or non-viral rapidly spreading diseases and such other factors as set forth under the heading “Forward-Looking Statements” in the Company’s annual reports on Form 10-K, its quarterly reports on Form 10-Q and in the Company’s other filings with the Securities and Exchange Commission (SEC). More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company is under no obligation to (and expressly disclaims any such obligation to) and does not intend to publicly update, revise, or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Contact:

GEE Group Inc.
Kim Thorpe
630.954.0400
invest@geegroup.com

SOURCE: GEE Group Inc.

View the original press release on ACCESS Newswire

Revenue increased 67% y/y to $17.1M with Positive Adjusted EBITDA¹ for Ninth Consecutive Quarter

Adjusted EBITDA¹ increased 387% y/y to $2.9M or 17% of revenue

Net Profit for the quarter of $0.9M and EPS of $0.02

Reaffirms Fiscal 2025 Revenue Guidance Exceeding $60M, Driven by Strong Order Pipeline

TORONTO, ONTARIO / ACCESS Newswire / August 13, 2025 / Electrovaya Inc. (“Electrovaya” or the “Company”) (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today reported its financial results for the third quarter of the fiscal year ending September 30, 2025 (“Q3 2025”). All dollar amounts are in U.S. dollars unless otherwise noted.

Financial Highlights:

• Revenue for Q3 2025 was $17.1 million, compared to $10.3 million in Q3 2024, an increase of 67%. Year to date revenue was $43.3 million compared to $33.0 million in the prior year, an increase of 31%

• Gross margin was 30.8% in Q3 2025. Battery system margins remained strong at 30.9% for the quarter.

• Adjusted EBITDA¹ was $2.9 million or 17% of revenue with growth of 387% year over year.

• Net profit for the quarter was $0.9 million, compared to a net loss in the prior year of $0.3 million. Year to date net profit was $1.3 million compared to a net loss of $1.4 million in the prior year.

• Earnings per share for the quarter was $0.02.

Key Operational and Strategic Highlights – Q3 2025

• Continued Growth from OEM Partners and Leading End-Customers: Electrovaya maintained strong momentum with its key OEM partners and end customers in the material handling sector. In Q3, the Company secured more than $21 million in orders, bringing total orders to over $66 million in the nine months ending June 30th 2025. The Company continues to expand its robust sales pipeline, leveraging long-standing relationships with major OEMs and top-tier end customers.

• Expanded Manufacturing Capacity and Output: To meet growing demand, Electrovaya implemented a second production shift at its Mississauga facility in mid-June and commenced assembly operations in Jamestown, NY in May. These initiatives will increase output for material handling battery systems and support the launch of new products for additional vertical markets

• Infinity Technology Advancements: The Company continued to enhance its Infinity product line, achieving UL certification for more than 400 battery systems equipped with its latest high-capacity lithium-ion cells. New models feature improved ergonomics and AI-enabled capabilities, further strengthening Electrovaya’s competitive edge.

• Development of New Products for Emerging Verticals: Electrovaya is leveraging its industry-leading Infinity technology to expand into a broader range of high-growth applications, including:

  • Robots and Autonomous Vehicles: The Company has introduced multiple battery system products for new robotic vehicle platforms across three distinct OEM customers. Applications range from material handling to surveillance systems. This initiative is part of a major product development program aimed at capturing share in the rapidly growing robotics market.

  • Airport Ground Equipment: Recently, Electrovaya launched products targeting the airport ground support segment and plans to showcase these solutions at the upcoming GSE Expo in Las Vegas this September.

  • Class 8 Trucks: As one of the largest potential markets for electrification, this segment represents a significant growth opportunity. Electrovaya has entered into a partnership with Janus Electric Holdings Limited, an Australian pioneer in heavy-vehicle electrification. The Company is developing custom high-voltage battery systems for a unique battery-swapping application in both U.S. and Australian markets.

  • Construction and Mining Equipment: Through its partnership with Sumitomo Corporation Power and Mobility, Electrovaya is pursuing opportunities with multiple Japan-based OEMs in these sectors.

  • Defense Applications: The Company continues to expand its collaboration with a global defense contractor on various electrification projects. With its superior safety and cycle life advantages, combined with upcoming U.S.-based lithium-ion battery manufacturing, Electrovaya is positioned to target the defense sector on a larger scale in the near term.

• Jamestown Cell Manufacturing Update: The Company remains on track for start of cell manufacturing in mid calendar year 2026. Output from the Jamestown facility will remain eligible for 45X under the OBBB Act (2025).

Management Commentary:

“Our Q3 FY2025 results reflect the strong momentum we’ve built, with continued growth in both revenue and profitability, while advancing our industry-leading Infinity technology into a broader range of applications,” said Dr. Raj DasGupta, Electrovaya’s CEO. “The market is increasingly recognizing the exceptional advantages of our innovations. Electrovaya’s unique lithium-ion technology delivers the ideal solution for the most demanding equipment in the world. With the rise of AI and rapid expansion across sectors like e-commerce and robotics, we are well-positioned to provide superior battery solutions that power these high-growth industries.”

“FY Q3 2025 quarter was our ninth consecutive quarter of positive adjusted EBITDA¹ and also our second consecutive quarterly net profit. Margins remained robust at above 30%, a trend that we expect to continue and strengthen over time.,” stated John Gibson, Electrovaya’s CFO. “Our second shift at our Mississauga operations, combined with the start up of assembly operations in Jamestown will continue to support increased manufacturing output as we complete our fiscal year and prepare for FY2026. We are confident in our ability to exceed $60 million in revenue for FY 2025 while advancing profitability and scaling operations.”

Positive Financial Outlook & Fiscal 2025 Guidance:

The Company anticipates strong growth into FY 2025 with estimated revenues to exceed $60 million driven by renewed demand from the Company’s largest end users of material handling batteries. This guidance considers its existing purchase orders, along with anticipated orders in its pipeline from key end users and customers. This guidance also takes into consideration a percentage of anticipated revenue that may be deferred to FY 2026 (please see Forward Looking Statements for further clarification).

Selected Financial Information for the quarters ended June 30, 2025 and 2024:

Results of Operations

(Expressed in thousands of U.S. dollars)

Adjusted EBITDA¹

(Expressed in thousands of U.S. dollars)

¹ Non-IFRS Measure: Adjusted EBITDA is defined as income/(loss) from operations, plus stock-based compensation costs and depreciation and amortization costs. Adjusted EBITDA does not have a standardized meaning under IFRS. Therefore it is unlikely to be comparable to similar measures presented by other issuers. Management believes that certain investors and analysts use adjusted EBITDA to measure the performance of the business and is an accepted measure of financial performance in our industry. It is not a measure of financial performance under IFRS, and may not be defined and calculated in the same manner by other companies and should not be considered in isolation or as an alternative to IFRS measures. The most directly comparable measure to Adjusted EBITDA calculated in accordance with IFRS is income (loss) from operations.

Summary Financial Position

(Expressed in thousands of U.S. dollars)

The Company’s complete Financial Statements and Management Discussion and Analysis for the quarter and nine months ended June 30, 2025 are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov, as well as on the Company’s website at www.electrovaya.com.

Conference Call details:

• Date: Wednesday, August 13, 2025

• Time: 5:00 pm. Eastern Time (ET)

• Toll Free: 888-506-0062

• International: 973-528-0011

• Participant Access Code: 264442

• Webcast link: https://www.webcaster4.com/Webcast/Page/2975/52770

To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call.

For those unable to participate in the conference call, a replay will be available for two weeks beginning on August 13, 2025 through August 27, 2025. To access the replay, the dial-in number is 877-481-4010 and 919-882-2331. The replay passcode is 52770.

Investor and Media Contact:

Jason Roy
VP, Corporate Development and Investor Relations
Electrovaya Inc.
jroy@electrovaya.com / 905-855-4618

About Electrovaya Inc.

Electrovaya Inc. (NASDAQ:ELVA)(TSX:ELVA) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. The Company has extensive IP and designs, develops and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. Electrovaya has two operating sites in Canada and a 52-acre site with a 135,000 square foot manufacturing facility in Jamestown New York state for its planned gigafactory. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements that relate to, among other things, revenue growth and revenue guidance of approximately $60 million in FY 2025, other financial projections, including projected sales, cost of sales, gross margin, working capital, cash flow, and overheads anticipated in FY 2025, the expected timing of deliveries of pre-production battery modules in Japan, anticipated cash needs and the Company’s requirements for additional financing, purchase orders, mass production schedules, funding from EXIM and the ability to satisfy the conditions to drawing on any facility entered into with EXIM,, use of proceeds of the EXIM facility,, ability to deliver to customer requirements. Forward-looking statements can generally, but not always, be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “possible”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective” and “continue” (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors and assumptions are applied in making forward looking statements, and actual results may differ materially from those expressed or implied in such statements. In making the forward-looking statements included in this news release, the Company has made various material assumptions, including but not limited to assumptions with respect to the Company’s customers deploying its products in accordance with communicated intentions, the Company’s customers completing new distribution centres in accordance with communicated expectations, intentions and plans, anticipated new orders in FY 2025 based on customers’ historical patterns and additional demand communicated to the Company and its partners, but not yet provided as a purchase order together with the Company’s current firm purchase order backlog totaling approximately $80 million, a discount of approximately 25% used in the revenue modeling applied to the overall expected order pipeline to account for potential delays in customer orders, expected decreases in input and material costs combined with stable selling prices in FY 2025, delivery of ordered products on a basis consistent with past deliveries, and that the Company’s customer counterparties will meet their production and demand growth targets, ]the Company’s ability to successfully execute its plans and intentions, including with respect to the entry into new business segments and servicing existing customers, the availability to obtain financing on reasonable commercial terms, including any EXIM facility. Factors that could cause actual results to differ materially from expectations include but are not limited to customers not placing orders roughly in accordance with historical ordering patterns and communicated intentions, macroeconomic effects on the Company and its business, and on the lithium battery industry generally, not being able to obtain financing on reasonable commercial terms or at all, including not being able to satisfy any condition of drawdowns under any EXIM facility if entered into, that the Company’s products will not perform as expected, supply and demand fundamentals for lithium-ion batteries, the risk of interest rate increases, persistent inflation in the United States and Canada and other macroeconomic challenges, the political, economic, and regulatory and business stability of, or otherwise affecting, the jurisdictions in which the Company operates, including new tariff regimes. There have been indications from the United States government of potential tariffs on Canada, Mexico and other countries, which if enacted would have a material impact on the Company. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company’s Annual Information Form for the year ended September 30, 2024 under “Risk Factors”, and in the Company’s most recent annual and interim Management’s Discussion and Analysis under “Qualitative And Quantitative Disclosures about Risk and Uncertainties” as well as in other public disclosure documents filed with Canadian securities regulatory authorities and filed or furnished with the SEC. The Company does not undertake any obligation to update publicly or to revise any of the forward looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.

Revenue guidance for FY2025 described herein constitutes future‐oriented financial information and financial outlooks (collectively, “FOFI“), and generally, is, without limitation, based on the assumptions and subject to the risks set out above under “Forward‐Looking Statements”. Although management believes such assumptions to be reasonable, a number of such assumptions are beyond the Company’s control and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. FOFI is provided for the purpose of providing information about management’s current expectations and plans relating to the Company’s future performance, and may not be appropriate for other purposes.

The FOFI does not purport to present the Company’s financial condition in accordance with IFRS, and it is expected that there may be differences between audited results and preliminary results, and the differences may be material. The inclusion of the FOFI in this news release disclosure should not be regarded as an indication that the Company considers the FOFI to be a reliable prediction of future events, and the FOFI should not be relied upon as such.

SOURCE: Electrovaya, Inc.

View the original press release on ACCESS Newswire

BETHLEHEM, PA / ACCESS Newswire / August 13, 2025 / Buzzi Unicem USA, a prominent U.S. cement manufacturer and subsidiary of Buzzi S.p.A is partnering with UptimeAI, a leading provider of AI-powered operational excellence solutions, to deploy an artificial intelligence-based program aimed at transforming asset reliability and operational performance at its Festus, MO plant.

The collaboration began with a pilot deployment of AI Expert, UptimeAI’s flagship platform, to gain deeper insights into operational parameters and their correlation, asset performance, prediction of equipment failures and reduction of maintenance costs. Powered by advanced AI and machine learning algorithms trained on more than 1,000 failure modes, AI Expert is expected to enable predictive diagnostics and informed decision-making. Its two primary core modules, “AI Expert: Generative AI” and “AI Expert: Reliability and Process,” aim to streamline operational parameters, root cause analysis, support continuous improvement and enhance knowledge management across plant operations.

The platform emulates the reasoning of experienced engineers by combining historical data, real-time operating conditions, and institutional knowledge to detect issues early to recommend targeted corrective actions.

“Unlike generic deviation detectors, our platform acts as a virtual process and reliability engineer,” Jagadish Gattu, founder and chief executive officer of UptimeAI, said. “AI Expert is purpose-built for complex industrial operations like we see at Buzzi Unicem USA to learn from plant-specific data with a comprehensive view approach mimicking the reasoning of seasoned engineers, to bridge the gap between human expertise and scalable AI.”

“Partnering with UptimeAI reflects our commitment to continuously improving reliability and performance,” Antonio Buzzi, president and chief executive officer of Buzzi Unicem USA, said. “This initiative supports our core value of continuous evolution. We pursue excellence, embrace innovation and face change with courage to achieve lasting, sustainable results. We expect UptimeAI’s platform to provide deep operational insight, to equip our teams with smart decisions and, most importantly, to support and share critical plant operational knowledge across our organization.”

This partnership reflects the companies’ shared commitment to driving innovation and advancing sustainable operations. As the cement industry faces increasing pressure to reduce unplanned downtime and lower its carbon footprint, AI-powered solutions are rapidly emerging as a strategic lever for competitiveness and long-term resilience.

About Buzzi Unicem USA

Buzzi Unicem USA Inc., part of the global Buzzi Unicem Group, is a leading cement manufacturer headquartered in Bethlehem, Pa. The company operates eight full-cycle cement plants and 36 cement terminals across the U.S., delivering high-quality materials and advancing innovation in construction. Learn more at: www.buzziunicemusa.com

About UptimeAI

UptimeAI is a San Francisco-based provider of AI-based operational excellence solutions for heavy industries. Its proprietary “AI Expert” platform enables organizations to improve asset reliability, efficiency, and sustainability by replicating the knowledge of top engineers at scale. UptimeAI is trusted by Global industry leaders in cement, power, oil and gas, and chemicals.
More at: www.uptimeai.com | Contact: info@uptimeai.com

Contact Information:

Marina Oliveira
Vice President of Marketing
marina.oliveira@uptimeai.com

Jenna L. Eckel
Communications Manager, Buzzi Unicem USA
jenna.eckel@buzziunicemusa.com

SOURCE: Uptime AI Inc.

View the original press release on ACCESS Newswire

RENO, NV / ACCESS Newswire / August 13, 2025 / Pershing Resources Company, Inc., (OTC PINK:PSGR) is pleased to announce that Pamela Laudenslager, (Pam), has joined the Company’s Advisory Board, effective immediately. In her role as a member of the Advisory Board, Ms. Laudenslager will be advising the Company regarding marketing, financing and, social media presence.

Ms. Laudenslager is the Managing Partner of Hemisphere Two Group LLC, a New York-based consulting/advisory group focusing on business planning and strategy as well as project funding while cultivating strategic partnerships. She is also a partner in Future Food Frontiers Pty., an innovative Australian aggrotech business that is currently being rolled out globally.

Ms. Laudenslager’s is an experienced marketing executive who’s career has spanned senior executive positions in marketing, sales and communications for several Fortune 500 companies involved in Broadway, entertainment, publishing, media, and cosmetics. Pam began her career after graduating college by serving on the White House Advance Team under President Gerald Ford. Upon completion of government service in the Ford administration, she became a Director for Avon Products in NYC. After distinguishing herself at Avon, she was tapped to become Senior Vice President with Estee Lauder. Pam has also held a position as the publisher for “The American Benefactor,” a magazine dedicated to philanthropy. As an entrepreneur, Pam co-founded Three Roads Media Partners, LLC, and was CEO of Center Stage Capital, Inc., a Broadway production company, which garnered her two Tony Awards.

Pam is deeply committed to philanthropic and civic leadership. She serves as President of her New York City co‑op, on the Board of Directors of Land of Friends Care Group and serves on the Board of Directors of the Neurology Trauma Research Foundation. Her philanthropic and leadership roles include board and trustee positions at BideaWee, Animal Rescue, NYC, Green Mountain College, New York Blood Center, and Sheltering Arms Children’s Services (NY). She holds an Associate of Arts degree from Green Mountain College and a Bachelor of Arts from Cedar Crest College.

Joel Adams, Chief Operating Officer of Pershing Resources, stated, “We are very pleased to welcome Pam to our team. Her experience and judgment as an entrepreneur, in fundraising, as well as, marketing and corporate development of early-stage companies will be invaluable as we move forward.”

Additional information on Ms. Laudenslager’s career is available on the Company’s website at: https://www.pershingpm.com/about/advisory-board.

To receive information on Pershing Resources, sign up for email news alerts at: http://ir.pershingpm.com/.

Forward-Looking Statements

The information contained in this press release, as well as the information on the Company’s website, is provided solely for the reader’s general knowledge. Such information is not intended to be a comprehensive review of all matters pertaining to the Company. Certain statements included herein, and, on the Company’s, website, constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current knowledge, assumptions, judgment, and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, these forward-looking statements are based on the beliefs of, assumptions made by, and information currently available to the Company’s management. When used in this press release and on the Company’s website, words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,” “plan,” “possibility,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, and/or achievements of the Company or of the mining industry, in general, to be materially different from future results, performance and/or achievements expressed or implied by those forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties related to fluctuations in gold, silver, copper and other precious and base metals commodity prices; uncertainties relating to interpretation of drill results and the geology of the Company’s properties; uncertainty of estimates of capital and operating costs; the need for cooperation of government agencies in the development of the Company’s mineral projects; the need to obtain additional financing to develop the Company’s mineral projects, the possibility of delay in development programs or in construction projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; the risks associated with the pandemic caused by the novel coronavirus known as COVID-19 and its variants; the risks associated with the continuing conflict between the Ukraine and Russia; and other risks and uncertainties affecting the Company’s business operations and financial condition.

All forward-looking statements are expressly qualified in their entirety by this cautionary notice. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. The Company has no obligation, and expressly disclaims any obligation, to update, revise or correct any of the forward-looking statements, whether because of new information or future events.

CONTACT:

Pershing Resources Company, Inc.
200 South Virginia Street, 8th Floor
Reno, NV 89501
Phone: 775-398-3124
Email: info.psgr@pershingpm.com

SOURCE: Pershing Resources Company, Inc.

View the original press release on ACCESS Newswire