Latest news with #OTCID
Yahoo
4 days ago
- Business
- Yahoo
Brownies Marine Group Company Wide Update
Davie, FL, June 19, 2025 (GLOBE NEWSWIRE) -- Brownie's Marine Group, Inc. (OTCQB: BWMG), a leading developer, manufacturer and distributor of tankless dive equipment, best-in-class water scooters, and high-pressure air and industrial compressors in the marine industry, today announced results for the fiscal fourth quarter and twelve months ending December 31, 2024. Robert Carmichael, CEO of Brownie's Marine Group, Inc. stated, 'Although we are disappointed in the operating results, we are pleased with the product development and re-alignment of resources. 'Ongoing market challenges, a cautious retail and trade channel environment resulted in lower total sales and profitability than desired. We remain focused on our key strategic priorities and the changes necessary for near-term growth—investing in consumer-driven innovation, enhancing our go-to-market with novel solutions ethos, and improving operational efficiencies at the fundamental level,' said Robert Carmichael, Chairman and Chief Executive Officer. Fundamental Changes: Headquarters Facility: The Company relocated it south Florida headquarters from Pompano Beach to Davie, Florida just west of the Fort Lauderdale International Air and Sea Port. The 19,000+ Sq. Ft. facility is a free standing, corporate office and manufacturing facility. This climate-controlled facility supports efficient manufacturing, innovation, and future growth. The new layout includes abundant technical areas, vertical storage, and a welcoming product showcase entrance highlighting the BMG portfolio. Audit Firm, Trading and Reporting: To modernize financial reporting and increase transparency, Brownie's engaged Bush & Associates CPA (Henderson, NV) as its independent audit firm. The firm brings a technology-forward, quality-driven approach to audit and assurance services. Additionally, BMG has applied for its OTC Markets listing to be transitioned to the upcoming OTCID platform, expected to go live in July 2025. OTC Markets Group is introducing OTCID as a new tier that replaces Pink Current, offering clearer distinctions between companies that meet basic disclosure standards and those that do not. The transition marks a pivotal shift toward investor transparency and accountability. By joining the OTCID Market, we proudly support OTC Markets Group's mission to distinguish responsible companies that take ownership of their U.S. traded securities and meet elevated disclosure standards. OTCID will make it easier for investors, brokers, regulators, and issuers to identify companies that demonstrate compliance and accountability. The enhanced transparency and disclosure requirements of OTCID may drive positive shifts in investor confidence and behavior, benefiting shareholders in BWMG and the broader OTC market alike. Product News: BLU3: BLU3 continues to redefine recreational diving with its patented, battery-powered dive systems designed for accessibility, portability, and innovation. In 2024, the Company implemented key changes to improve product positioning, operational efficiency, and brand performance: Completed the phase-out of the Nemo model in favor of the more advanced Nomad Mini, streamlining the product line and improving overall manufacturing efficiency. Expanded into the pool and spa service industry through targeted marketing campaigns that highlight BLU3's unique utility for light underwater work and inspection. Reduced overhead expenses by strategically eliminating non-essential salaried roles in sales and marketing, aligning resources with core priorities. Implemented price adjustments across core products to support margin growth and maintain long-term profitability. Maintained a diverse marketing strategy through continued investment in boat shows, influencer collaborations, and a combination of paid and organic social media efforts. BLU3 remains a central growth driver for BMG and continues to explore new markets and applications for its ultra-portable dive technology. SeaNXT Elite: BLU3 completed its first full year as the exclusive distributor and service center for the SeaNXT Elite water scooter across North and South America and the non-French Caribbean. In 2024, the primary focus was on expanding the dealer and service network throughout these regions to establish a strong foundation for long-term growth. While several promising partnerships were explored, some efforts were paused due to market constraints, including restrictive dealer agreements imposed by competing brands that prohibit retailers from carrying alternative products. Despite this, SeaNXT continues to gain traction as a high-performance, service-friendly alternative in the luxury water toy category. Building brand trust remains a top priority, and BLU3 is uniquely positioned to lead this effort thanks to its experienced team, modern facilities, and the modular design of the SeaNXT Elite, which simplifies maintenance and supports long-term ownership value. Brownie's THIRD LUNG / Sea Lion: Since 1969 the 'THIRD LUNG' has been thought of as a simple gasoline powered air compressor on a float tube. The simplicity and long run time has satisfied an enduring audience of local Florida lobster hunters, salvors and shallow sport divers rugged enough to tolerate the dinosaur powered solution for over 5-decades. The next generation THIRD LUNG (Sea Lion) leverages our multi-patented battery-powered technology to deliver a diver sensitive-variable speed solution that is more appealing to a broader audience of resort divers and families with boats. The Sea Lion boost an 18-pound battery that provides up to 3-hours of dive time for 3-divers to depths up to 33-ft. The sluggish cadence of 2024 allowed Brownie's team to develop and heavily invest in multiple improvements that are now delivering better value to the consumer and significant margin enhancements for the company. SPARE AIR (Submersible Systems, Inc.): Submersible Systems, Inc. enjoyed one of the best years in the companies over 40-year history. SPARE AIR is a natural complement to the entire line of Brownie's and BLU3 innovations. As we recruit broader audiences to participate in tankless diving, the addition of a completely redundant air source for our products and other diving systems becomes self-evident. Distribution channels and new market opportunities are exposing more synergies across the brands as we cross-pollinate sales and customer service efforts. LIVE BLUE: Live Blue was launched in 2022 as a pilot program for guided tours, and entry-level dive coaching utilizing the innovative line of products from BLU3. Initially launched in conjunction with our acquisition of Gold Coast Scuba, LLC, a dive shop and scuba diving training center operating in Lauderdale-by-the-Sea, Florida. In late 2024, the company sold the inventory and SCUBA asset package known as Gold Coast Scuba to Adventure Seeker Company. Adventure Seeker Company Dba Gold Coast Scuba continues to operate as a dealer and strategic partner of BMG products and services for the Lauderdale-by-the-Sea area. Live Blue, Inc remains a wholly owned subsidiary of BMG. Robert M. Carmichael, President and Chairman of the Board added, 'One of our core missions is to support entry-level water exploration and promote long-term ocean stewardship. Through education and access, we aim not only to grow our customer base—but to foster the next generation of responsible marine enthusiasts.' About Brownie's Marine Group Brownie's Marine Group, Inc. owns a portfolio of companies focused on industrial breathing air and recreational diving technologies. Together, the Company designs, tests, manufactures, and distributes tankless dive systems, high-pressure breathing air systems, scuba products, and water safety devices across global markets. The Company operates four subsidiaries: Brownie's THIRD LUNG – Multi-person tankless dive systems ( BLU3, Inc. – Ultra-portable tankless dive systems ( and distributor of SeaNXT Elite water scooters ( LW Americas – High-pressure breathing air systems ( Submersible Systems, Inc. – Redundant air safety systems ( BMG operates from its Davie, Florida headquarters and a manufacturing and distribution facility in Huntington Beach, California. For more information, visit: Safe Harbor Statement This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading 'Risk Factors' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission (the 'SEC') on June 17th, 2025, and our other periodic and quarterly filings with the SEC. Source: Brownie's Marine Group, Information: (954) 462-5570robert@ in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
BluSky AI Inc. OTCID Designation
Salt Lake City, Utah , June 17, 2025 (GLOBE NEWSWIRE) -- – BluSky AI Inc. (OTC: BSAI), a next-generation developer of modular AI data center infrastructure, is pleased to announce that effective July 1, 2025, the company will be transitioning from the OTC Pink Sheets to the OTCID, a designation within the OTC Markets platform designed for entrepreneurial and growth-stage companies that meet higher reporting and compliance standards. This transition represents a significant milestone in BluSky AI's commitment to transparency, regulatory compliance, and broader market visibility. "This upgrade is an important step forward as we strengthen investor confidence and signal our commitment to long-term growth,' said Trent D'Ambrosio, CEO of BluSky AI. 'Over the past six months, we've made exceptional progress in scaling our operations, securing strategic partnerships, and advancing our financial and governance standards—all key drivers for enhanced market positioning." The past months have marked a period of rapid advancement for BluSky AI, including: Expansion of planned modular AI data center deployments Strategic infrastructure partnerships Launch of GPU-as-a-Service offerings for enterprise and research sectors Strengthened balance sheet and financial reporting procedures With its new OTCID status, BluSky AI will hopefully benefit from increased credibility with investors, greater access to capital markets, and improved trading transparency, positioning the company for continued momentum and growth. Trent D'AmbrosioCEO, BluSky AI About BluSky AI in Salt Lake City, Utah, BluSky AI Inc. delivers modular, rapidly deployable data center infrastructure purpose-built for artificial intelligence. These next generation scalable AI Factories provide speed-to-market, and energy optimization for entities requiring high-performance infrastructure to support machine learning workloads. BluSky AI empowers small, mid-sized, enterprise, and academic partners from start-up to scale-up to drive innovation without compromise. Forward-Looking Statements: This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements with respect to the potential impact for the Company. There can be no assurance statements will prove to be accurate and actual results and future events could differ materially from anticipated in such statements. BluSky AI Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
12-06-2025
- Business
- Hamilton Spectator
Hapbee Is Upgrading U.S. Listing to OTCID to Expand Investor Access and Increase Market Visibility
VANCOUVER, British Columbia, June 12, 2025 (GLOBE NEWSWIRE) — Hapbee Technologies Inc. (TSXV: HAPB | OTC: HAPBF) ('Hapbee' or the 'Company'), a leading wearable wellness technology company, is pleased to announce that its U.S. listing has been upgraded from the OTC Pink Sheets to the newly established OTCID (OTC International Designated) tier on the OTC Markets Group platform. The Company will continue to trade under the symbol HAPBF once the upgrade is complete - effective July 1, 2025. This uplisting reflects Hapbee's ongoing commitment to enhancing transparency, accessibility, and engagement with a broader and diversified group of U.S.-based retail and institutional investors aligned with Hapbee's market rollout plans and broader growth strategy. 'We are excited to advance our capital markets strategy with this upgrade to OTCID,' said Yona Shtern, CEO of Hapbee. 'As we continue to scale our wellness platform and partner ecosystem across North America and internationally, this move provides U.S. investors with improved visibility and access to Hapbee's shares in a more structured and enhanced trading environment.' The OTCID market tier, launched by OTC Markets in 2024, is specifically designed for established, international issuers that meet higher standards of disclosure and governance. OTCID-listed companies benefit from expanded investor outreach capabilities, better market quality, and enhanced corporate credibility in the U.S. capital markets. The Company's primary listing remains on the TSX Venture Exchange under the symbol HAPB. Update on Audited Financial Statements The Company also announces that the filing of its annual audited financial statements and MD&A for the year ended December 31, 2024 (the 'Financial Statements'), required pursuant to Parts 4 and 5 of National Instrument 51-102 Continuous Disclosure Obligations, remains delayed. For a detailed explanation of the reasons for the delay, please see the Company's news releases dated April 18 and May 15, 2025. The Auditor is in the process of finalizing its audit of the Financial Statements for review by the Company's audit committee. The Company is expecting to file the Financial Statements together with the Chief Executive Officer ('CEO') and Chief Financial Officer ('CFO') certifications (collectively, the 'Required Filings') within the next seven days. In any event, the Company does not anticipate any issue in completing and filing the Required Filings on or before June 30, 2025, and will continue providing updates on its progress. A Management Cease Trade Order ('MCTO') under National Policy 12-203 Management Cease Trade Orders ('NP 12-203') was issued by the British Columbia Securities Commission, as principal regulator for the Company, on May 1st, 2025. The MCTO restricts all trading by the Company's CEO and CFO in securities of the Company, whether direct or indirect. The issuance of the MCTO will not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until two business days after the Required Filings are filed or until it is revoked or varied. The Company confirms that it intends to satisfy the provisions of the 'alternative information guidelines' described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release for so long as it remains in default of the requirement to make the Required Filings. The Company has not taken any steps towards any insolvency proceeding, and the Company has no material information relating to its affairs that has not been generally disclosed. About Hapbee About Hapbee Technologies Inc. Hapbee is a digital wellness company that helps people optimize how they feel, sleep, and perform. Powered by ultra-low radio frequency energy (ulRFE®), Hapbee's wearable devices deliver safe, low-energy biostreams designed to promote desired wellness states such as focus, relaxation, and improved sleep — without the need for ingestibles. The Company's growing product ecosystem includes the Hapbee Mobile App, Smart Sleep Pad, Neckband and Immersive Mattress Topper, used by wellness enthusiasts, high-performance athletes, and health professionals around the world. To learn more, visit . Forward-Looking Statements Certain statements included in this news release constitute forward-looking information or statements (collectively, 'forward-looking statements'), including those identified by the expressions 'anticipate', 'believe', 'plan', 'estimate', 'expect', 'intend', 'may', 'should' and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward-looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties, and other factors. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements and information are based on numerous assumptions regarding the Company's ability to meet its planned product marketing and development initiatives and the Company's ability to achieve its e-commerce rollout and full-scale commercial launch as anticipated. Factors that could cause the actual results to differ materially from those in the forward-looking statements include, delays in design, production, manufacturing, development or releases of signal blends, collection of data from customer use, or the Company may not be able to achieve its targets as anticipated or at all; changes in legislation and regulations; increase in operating costs; equipment failures; failure of counterparties to perform their contractual obligations; litigation; the loss of key directors, employees, advisors or consultants and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These risks, uncertainties and assumptions could cause actual events or results to differ materially from those projected in any forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements. Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Renmark Financial Communications Inc. Bettina Filippone: bfilippone@ Tel: (416) 644-2020 or (514) 939-3989
Yahoo
12-05-2025
- Business
- Yahoo
AITX Supports New OTCID Market Structure, Embraces Higher Standards
Company Aligns with Upcoming OTCID Market, Reinforcing Its Commitment to Transparency, Growth, and Investor Confidence Detroit, Michigan--(Newsfile Corp. - May 12, 2025) - Artificial Intelligence Technology Solutions, Inc., (OTC Pink: AITX) (the "Company"), a global leader in AI-driven security and productivity solutions, today affirmed its support for the July 2025 launch of the OTCID Market. Designed to elevate disclosure and reporting requirements for companies on the over-the-counter markets, the OTCID Market offers a long-anticipated advancement in transparency and structure. AITX views the transition as a significant and necessary improvement for issuers and investors alike, and it has already completed the application process to participate under the new designation. To view an enhanced version of this graphic, please visit: The upcoming launch of the OTCID Market represents a welcomed evolution in over-the-counter trading. For years, the Pink Open Market has served as a wide entry point for public companies, but its reputation has been shaped by inconsistent disclosure practices and minimal oversight. The introduction of OTCID creates a modern framework that distinguishes companies committed to rigorous financial reporting, investor transparency, and operational accountability. As OTC Markets advances this new tier, it signals a stronger commitment to information integrity, something long requested by serious investors. "This shift is timely, and it aligns perfectly with the direction we've already been heading," said Steve Reinharz, CEO of AITX. "We believe the market will reward transparency, discipline, and forward momentum, and OTCID is a meaningful platform for companies like ours that are building for long-term growth and eventual uplisting. AITX welcomes the higher standard and the opportunity to further demonstrate our progress to the investment community." AITX has consistently exceeded the disclosure benchmarks associated with the Pink Current tier by filing detailed periodic reports with the Securities and Exchange Commission (SEC). These filings go beyond basic OTC requirements, providing investors with audited financials, executive compensation details, management discussion and analysis, and other material disclosures. By maintaining this standard since 2019, AITX has demonstrated a disciplined and transparent approach to public company operations, well in line with the expectations anticipated under the new OTCID structure. "We view OTCID as another step that affirms our direction, transparency, and discipline. Our path to NASDAQ requires progress at every level, and we welcome frameworks that support that momentum," concluded Reinharz. As the OTCID Market prepares to launch, AITX stands ready to meet its elevated standards. The Company views this transition as a pivotal step toward broader market recognition and enhanced investor confidence. By aligning with OTCID's commitment to transparency and accountability, AITX reinforces its dedication to long-term growth and value creation for its shareholders. AITX, through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the nearly $50 billion (US) security and guarding services industry1 through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide cost savings to businesses of between 35%-80% when compared to the industry's existing and costly manned security guarding and monitoring model. RAD delivers these tremendous cost savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are developed in-house. The Company's operations and internal controls have been validated through successful completion of its SOC 2 Type 2 audit, reinforcing the Company's credibility with enterprise and government clients who require strict data protection and security compliance. RAD has a prospective sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each Fortune 500 client has the potential of making numerous reorders over time. AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX's RAD, RAD-R, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staff and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit and or follow Steve Reinharz on Twitter @SteveReinharz. CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTSThe information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence Technology Solutions, Inc. (the "Company"). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. There is no guarantee that the Company will achieve a NASDAQ listing. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company's future revenues, results of operations, or stock price. ### Steve Reinharz949-636-7060@SteveReinharz 1 To view the source version of this press release, please visit
Yahoo
07-05-2025
- Business
- Yahoo
OTC Markets Group Reports First Quarter 2025 Financial Results Delivering Revenue and Operating Income Growth
'Our first quarter results highlighted the value of our diversified revenue streams and synergistic business lines,' said Antonia Georgieva, Chief Financial Officer . 'OTC Link revenues increased, supported by higher trading volume, with price increases and subscriber growth driving Market Data Licensing revenue growth. Our Corporate Services business saw sales improve but experienced a small decline in revenues due to a lower number of companies across our markets. We remain focused on our key initiatives and on driving growth in users and usage of our products.' 'During the first quarter of 2025, we remained focused on overnight trading and the launch of the OTCID Basic Market,' said R. Cromwell Coulson, President and Chief Executive Officer . 'We continued to certify and connect subscribers to MOON ATS TM and OTC Overnight TM , and open distribution channels for our overnight data feeds. We are in constant communication with issuers, advisors, investors and our broker-dealer community as we move towards the July 1 st OTCID launch date. We believe these key initiatives will increase the value of our regulated trading platforms for broker-dealers and improve the quality of our markets for investors.' NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced its financial results for the first quarter of 2025. OTC Markets Group announced that in July 2025, it will launch OTCID TM – a Basic Reporting Market for companies that meet a minimal current information standard and provide a management certification. The Pink Current Market will cease to exist Approximately 56,000 average daily trades during the quarter versus approximately 34,000 during the prior year period 116 subscribers to OTC Link ECN as of March 31, 2025, up 4 versus March 31, 2024 Total cash returned to shareholders during the quarter of $5.1 million, comprised of dividends of $2.2 million and repurchases of common stock of $2.9 million Net income of $6.0 million, up 1% versus the prior year period, and quarterly diluted GAAP EPS of $0.50, up 2% Operating income of $7.3 million for the quarter, up 9% versus the prior year period Gross revenues of $30.4 million for the quarter, up 10% versus the prior year period Story Continues First Quarter 2025 compared to First Quarter 2024 Financial Highlights Three Months Ended March 31, (in thousands, except shares and per share data) 2025 2024 % change $ change OTC Link $ 6,563 $ 5,397 22 % 1,166 Market data licensing 12,783 11,088 15 % 1,695 Corporate services 11,080 11,172 (1 %) ( 92 ) Gross Revenues 30,426 27,657 10 % 2,769 Net revenues 29,432 26,817 10 % 2,615 Revenues less transaction-based expenses 27,057 25,309 7 % 1,748 Operating expenses 19,783 18,610 6 % 1,173 Income from operations 7,274 6,699 9 % 575 Operating profit margin 24.7 % 25.0 % Income before provision for income taxes 7,424 6,874 8 % 550 Net income $ 6,040 $ 5,984 1 % 56 Diluted earnings per share $ 0.50 $ 0.49 2 % Adjusted diluted earnings per share $ 0.81 $ 0.76 7 % Weighted-average shares outstanding, diluted 11,834,071 11,863,089 - Gross revenues of $30.4 million, up 10% over the prior year quarter. Revenues less transaction-based expenses up 7%. OTC Link revenues up 22%. Transaction-based revenues from OTC Link ECN and OTC Link NQB up 46% due to a higher volume of shares traded on those platforms. Contributing to the overall increase in OTC Link revenues were an increase in certain connectivity revenue due to growth in the number of connection licenses and higher QAP service revenue related to the higher volume of trading activity. Market Data Licensing revenues up 15%. Redistributor-based revenues increased 19%, with professional user revenues increasing 20%, and non-professional user revenues increasing 45% quarter over quarter. Revenues from direct sold licenses increased 22% primarily due to price increases and growth in subscribers as well as certain one-time revenue recognized during the quarter. Revenues from data and compliance solutions declined slightly at 1%, with lower revenue from EDGAR Online partially offset by increases in revenues from data services and our Blue Sky data product. Corporate Services revenues down 1%. Revenues from our OTCQB market declined 2%, reflecting a lower number of companies on the OTCQB market, offsetting price increases effective from the beginning of the year. Revenues from our OTCQX market and our Disclosure & News Service ® ('DNS') product increased 1% and 2%, respectively, in each case due to price increases offsetting a lower number of companies on the OTCQX markets or subscribing to DNS. Operating expenses increased 6%. The increase was primarily driven by a 3% increase in compensation and benefits, 33% increase in professional and consulting fees, and 34% increase in general, administrative and other, primarily due to higher bad debt. Operating income increased 9% and net income increased 1%, to $7.3 million and $6.0 million, respectively. Adjusted EBITDA, which excludes non-cash stock-based compensation expense, increased 7% to $9.8 million, or $0.81 per adjusted diluted share. Dividend Declaration – Quarterly Cash Dividend OTC Markets Group announced today that its Board of Directors authorized and approved a quarterly cash dividend of $0.18 per share of Class A Common Stock. The quarterly cash dividend is payable on June 18, 2025, to stockholders of record on June 4, 2025. The ex-dividend date is June 4, 2025. Stock Buyback Program The Company is authorized to purchase shares from time to time on the open market, from employees and consultants, and through block trades, in compliance with applicable law. During the first quarter of 2025, the Company purchased 55,522 shares at an average price of $52.8575 per share. On March 11, 2025, the Board of Directors refreshed the Company's stock repurchase program, giving the Company authorization to repurchase up to 300,000 shares of the Company's Class A Common Stock. Non-GAAP Financial Measures In addition to disclosing results prepared in accordance with GAAP, the Company also discloses certain non-GAAP results of operations, including adjusted EBITDA and adjusted diluted earnings per share that either exclude or include amounts that are described in the reconciliation table of GAAP to non-GAAP information provided at the end of this release. Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results but are provided to improve overall understanding of the Company's current financial performance. Management believes that this non-GAAP information is useful to both management and investors regarding certain additional financial and business trends related to the operating results. Management uses this non-GAAP information, along with GAAP information, in evaluating its historical operating performance. First Quarter 2025 Conference Call The Company will host a conference call and webcast on Thursday, May 8, 2025, at 8:30 a.m. Eastern Time, during which management will discuss the financial results in further detail. The call and webcast may be accessed as follows: Webcast: The conference webcast and management presentation can be accessed at the following link (replay available until May 7, 2026): Live Call: Participants intending to ask a question during the live call and Q&A session should also register in advance at: Upon registration, participants will receive a dial-in number along with a unique PIN number that can be used to access the live call. Live call participants may also select a 'Call Me' option. The Quarterly Report, earnings release, transcript of the earnings call, and management presentation will also be available in the Investor Relations section of the corporate website at About OTC Markets Group Inc. OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets. OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit Investor Contact: Antonia Georgieva Chief Financial Officer Phone: (212) 220-2215 Email: ir@ Media Contact: OTC Markets Group Inc. Phone: (212) 896-4428 Email: media@ OTC MARKETS GROUP INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands, except share and per share information) Three Months Ended March 31, 2025 2024 OTC Link $ 6,563 $ 5,397 Market data licensing 12,783 11,088 Corporate services 11,080 11,172 Gross revenues 30,426 27,657 Redistribution fees and rebates (994 ) (840 ) Net revenues 29,432 26,817 Transaction-based expenses (2,375 ) (1,508 ) Revenues less transaction-based expenses 27,057 25,309 Operating expenses Compensation and benefits 12,906 12,522 IT Infrastructure and information services 2,715 2,699 Professional and consulting fees 1,956 1,466 Marketing and advertising 343 263 Occupancy costs 638 585 Depreciation and amortization 660 653 General, administrative and other 565 422 Total operating expenses 19,783 18,610 Income from operations 7,274 6,699 Other income Other income 150 175 Income before provision for income taxes 7,424 6,874 Provision for income taxes 1,384 890 Net Income $ 6,040 $ 5,984 Earnings per share Basic $ 0.50 $ 0.50 Diluted $ 0.50 $ 0.49 Basic weighted average shares outstanding 11,756,815 11,705,383 Diluted weighted average shares outstanding 11,834,071 11,863,089 Non-GAAP Reconciliation Three Months Ended March 31, 2025 2024 Net Income $ 6,040 $ 5,984 Excluding: Interest expense (income) (149 ) (175 ) Provision for income taxes 1,384 890 Depreciation and amortization 660 653 Stock-based compensation expense 1,881 1,826 Adjusted EBITDA $ 9,816 $ 9,178 Adjusted diluted earnings per share $ 0.81 $ 0.76 Note: We use non-GAAP financial measures of operating performance. Non-GAAP measures do not replace and are not superior to the presentation of our GAAP financial results, but are provided to improve overall understanding of the Company's current financial performance. OTC MARKETS GROUP INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share information) March 31, December 31, 2025 2024 Assets Current assets Cash and cash equivalents $ 29,016 $ 34,522 Short-term investments 3,871 4,513 Accounts receivable, net of allowance for credit losses of $462 and $326 9,268 8,097 Prepaid income taxes 430 244 Prepaid expenses and other current assets 2,771 2,237 Total current assets 45,356 49,613 Property and equipment, net 6,697 7,096 Operating lease right-of-use assets 10,597 10,951 Deferred tax assets, net 10,573 10,120 Goodwill 3,984 3,984 Intangible assets, net 6,684 6,829 Long-term restricted cash 1,606 1,606 Other assets 553 543 Total Assets $ 86,050 $ 90,742 Liabilities and stockholders' equity Current liabilities Accounts payable $ 854 $ 1,175 Income taxes payable 1,457 54 Accrued expenses and other current liabilities 7,388 13,425 Deferred revenue 27,001 29,084 Total current liabilities 36,700 43,738 Income tax reserve 962 927 Operating lease liabilities 9,964 10,360 Total Liabilities 47,626 55,025 Commitments and contingencies Stockholders' equity Common stock - par value $0.01 per share Class A - 17,000,000 authorized, 12,904,727 issued, 12,013,295 outstanding at March 31, 2025; 12,815,075 issued, 11,979,165 outstanding at December 31, 2024 129 128 Additional paid-in capital 36,889 35,127 Retained earnings 27,078 23,200 Treasury stock - 891,432 shares at March 31, 2025 and 835,910 shares at December 31, 2024 (25,672 ) (22,738 ) Total Stockholders' Equity 38,424 35,717 Total Liabilities and Stockholders' Equity $ 86,050 $ 90,742
