Latest news with #Solution
Yahoo
12-06-2025
- Business
- Yahoo
Solution Financial Reports Q2 2025 Financial Results
Vancouver, British Columbia--(Newsfile Corp. - June 12, 2025) - Solution Financial Inc. (TSX: SFI) (the "Company"), a leading provider of luxury and ultra luxury asset leasing in Canada, today announced its financial results for the second quarter ending April 30, 2025. Earnings Highlights for the Quarter: Net income for the quarter was $5,668 compared to a net loss of $29,046 in the comparative quarter in 2024. Adjusted net income(1) increased to $58,192 compared to Adjusted net income of $28,856 in the comparative quarter. Revenue increased to $2,710,162 compared to $2,233,770 in the comparative quarter. Total leasing portfolio remained relatively unchanged at $30,123,209 during the quarter. Operational Highlights for the Quarter: The Company returned to modest profitability Enhanced local program compliance materials Further streamlining of client quoting platform and automation "The second quarter was an encouraging step forward for us," said Bryan Pang, CEO of Solution Financial Inc. "We returned to profitability and posted over 20% year-over-year revenue growth, reflecting that demand for our luxury leasing solutions remains strong despite ongoing economic uncertainty. We also made meaningful progress on key initiatives—upgrading our quoting platform, expanding automation, and bolstering compliance frameworks across all our active regions. These operational improvements are supporting greater scale and efficiency across our business. As we look ahead, we remain focused on disciplined execution and long-term value creation through technology investment, risk-adjusted growth, and strategic relationship development." Financial Results Solution is reporting net income of $5,668 for the quarter ending April 30, 2025. This compares to a net loss of $29,046 per share for the quarter ending April 30, 2024. Adjusted net income, which is more reflective of actual cash earnings, for the quarter ending April 30, 2025, was $58,192(1) or $0.0007 per share compared to $28,856 or $0.0003 per share for the quarter ending April 30, 2024. Adjusted net income excludes the non-cash accretion expense related to right of use assets of $30,330, income tax provision of $7,350, amortization of $26,485, and provision for credit losses of $3,059. Lease Portfolio At April 30, 2025, Solution had 355 vehicles in its lease portfolio, a net increase of 3 vehicles over the quarter to bring the total lease portfolio value to $30.1 million. At April 30, 2025 the average remaining lease term for the portfolio was 1.95 years, weighted by net book value for each vehicle. At April 30, 2025, Solutions' 355 leases were generating annualized gross rental and lease cash flows of approximately $7.8 million. About Solution Solution Financial commenced operations in 2004 and specializes in sourcing and leasing luxury and exotic vehicles, yachts and other high value assets. Solution works with a select group of luxury automotive and marine dealerships providing lending solutions to clients who prefer more flexible leasing options than those traditionally offered by banks and other lease providers. Typical customers include new immigrants, business owners and international students who tend to upgrade their vehicles more frequently than traditional lease agreements allow. Solution Financial provides a unique leasing experience whereby it partners with its clients to help source limited edition and difficult to acquire vehicles as well as providing white glove services to clients for insuring, maintaining, upgrading, and reselling their vehicles. Note 1- Non-IFRS Financial Metrics Solution provides all financial information in accordance with International Financial Reporting Standards ("IFRS"). To supplement our consolidated financial statements presented in accordance with IFRS, we are also providing with this press release, certain non-IFRS financial measures, including Adjusted Net Income. In calculating these non-IFRS financial measures, we have excluded certain transactions that are not necessarily indicative of our ongoing operations or do not impact cash flows. These measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. These measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. Cautionary Statement Regarding Forward-Looking Statements This press release contains "forward-looking information" as defined under applicable Canadian securities laws. This information includes, but is not limited to, statements concerning our objectives, our strategies to achieve those objectives, as well as statements made with respect to management's beliefs, plans, estimates, projections and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Although forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with this forward-looking information. Certain statements included in this press release may be considered a "financial outlook" for purposes of applicable Canadian securities laws, and as such the financial outlook may not be appropriate for purposes other than this press release. The forward-looking information contained in this press release is made as of the date of this press release and should not be relied upon as representing Solution's views as of any date subsequent to the date of this press release. Except as required by applicable law, management and Solution's Board of Directors undertake no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise. For further information, please contact Sean Hodgins at (778) 318-1514. ON BEHALF OF THE BOARD (signed) "Bryan Pang"Bryan PangPresident, CEO and Director Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit Error 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
Cision Canada
12-06-2025
- Business
- Cision Canada
Converge Technology Solutions Named 2025 Large Solution Provider Partner of the Year by Arctic Wolf
TALLAHASSEE, Fla., June 12, 2025 /CNW/ - Converge Technology Solutions Corp., now Pellera Technologies, is pleased to announce it has been named Arctic Wolf Large Solution Provider (LSP) Partner of the Year for 2025. This recognition highlights the company's exceptional leadership in cybersecurity, outstanding service delivery, and commitment to helping mutual customers drive innovation and achieve stronger security outcomes. This is Converge's second year as LSP Partner of the Year, also having taken home the award in 2024. The Arctic Wolf Partner of the Year Awards recognize elite partners who have demonstrated outstanding leadership in helping organizations improve their security operations through Arctic Wolf's portfolio of solutions. Now in their eighth year, the honors celebrate top-performing companies that have shown excellence in security practice, executive alignment, revenue growth, and service. "This year's award winners represent the very best of the Arctic Wolf partner community," said Will Briggs, Senior Vice President, Global Channels, Arctic Wolf. "Each of these organizations has demonstrated exceptional commitment to our shared mission to end cyber risk, helping customers navigate an increasingly complex threat landscape with confidence and resilience. We're proud to recognize their achievements and celebrate the critical role they play in driving meaningful security outcomes." "We're thrilled to be named Arctic Wolf's 2025 Large Solution Provider Partner of the Year for the second year running," said Greg Berard, Chief Executive Officer of Pellera Technologies, formerly Converge Technology Solutions. "Our collaboration with Arctic Wolf has consistently driven powerful security outcomes for our clients, and this recognition reflects the impact of our shared commitment. By integrating Arctic Wolf's cutting-edge, evolving platform with our delivery capabilities, we've successfully expanded beyond a traditional reseller motion to offer managed services (MSP) on top of our traditional solutions. As we move into our future as Pellera, we're poised to further redefine cybersecurity standards as we continue investing in innovation and leveraging trusted partnerships like this one." As organizations worldwide face an increasingly complex threat landscape and a persistent cybersecurity talent shortage, over 10,000 organizations globally now rely on the Arctic Wolf Aurora Platform to help end cyber risk. Built on an open-XDR architecture and powered by Alpha AI™ technologies, the Aurora Platform is designed to deliver positive security outcomes at scale. Each week, it ingests, parses, enriches, and analyzes over eight trillion security events—transforming overwhelming volumes of data into an average of just one actionable alert per customer per day. About Converge Converge Technology Solutions Corp., now Pellera Technologies, is reimagining the way businesses think about IT—a vision driven by people, for people. Since 2017, we've focused on delivering outcomes-driven solutions that tackle human-centered challenges. As a services-led, software-enabled, IT & Cloud Solutions provider, we combine deep expertise, local connections, and global resources to deliver industry-leading solutions. Through advanced analytics, artificial intelligence (AI), cloud platforms, cybersecurity, digital infrastructure, and workplace transformation, we empower businesses across industries to innovate, streamline operations, and achieve meaningful results. Our AIM (Advise, Implement, Manage) methodology ensures solutions are tailored to our customers' specific needs, aligning with existing systems to drive success without complexity. Discover IT reimagined with Converge—where innovation meets people. Learn more at
Business Upturn
11-06-2025
- Business
- Business Upturn
FiberStar Selects Incognito Software Systems to Optimize Fiber Network and Enhance Wi-Fi Service Quality
VANCOUVER, British Columbia: PT. Mega Akses Persada (FiberStar), a leading fiber operator in Indonesia, has announced its partnership with Incognito Software Systems, a leading global provider of broadband service orchestration, device management, and network intelligence OSS solutions, to deploy its Digital Experience (DX) Solution to streamline multi-vendor device management and optimize Wi-Fi service quality. With Incognito's solution, FiberStar can take advantage of market-leading TR-069 and Wi-Fi management capabilities to enhance key customer journeys, such as service activation, performance management, and issue resolution. With a focus on designing, building, and operating high-quality, open-access fiber infrastructure that enables enterprise customers and communication service providers to offer triple-play services across 200 cities in Indonesia, FiberStar required a robust device management solution capable of supporting end-to-end provisioning and monitoring of Optical Network Terminals (ONTs) across its network while maintaining visibility of in-home Wi-Fi performance. Thanks to the flexible architecture and standards-based approach of Incognito's solution, the deployment was completed swiftly in just a matter of weeks, allowing FiberStar to quickly enhance its service delivery. Incognito's DX Solution equips FiberStar with real-time visibility into in-home Wi-Fi performance, enabling remote diagnostics, proactive troubleshooting, and seamless configuration updates across multi-vendor devices. This ensures optimized connectivity, reduced service disruptions, and faster resolution of Wi-Fi issues, leading to improved customer satisfaction and trust. Key features of the solution include: Standards-based TR-069 device management and provisioning that is network access agnostic and vendor-neutral; Centrally managed device configurations, including firmware updates, reboots, and parameter changes, to streamline operational processes; Advanced service quality management to validate connection quality, perform automated network-wide monitoring, and conduct individual device diagnostics; Real-time alerts and reporting to provide deeper insights into network performance and long-term trends. 'At FiberStar, we are committed to delivering top-tier fiber services to customers across Indonesia,' says Sugiharto Darmakusuma, President Director at FiberStar. 'By selecting Incognito's proven carrier-grade solution, we can improve operational efficiencies while continuing to meet the growing demands of the Indonesian IT market and exceed customer expectations.' To support this project, Incognito worked with PT Multipolar Technology Tbk to ensure a seamless deployment of the DX Solution for FiberStar. Multipolar Technology played a key role in understanding the networking requirements, facilitating stakeholder collaboration, and ensuring a smooth implementation that enhances FiberStar's service offerings. 'Through our collaboration with Incognito, Multipolar Technology has provided FiberStar with a best-in-class and telco standard device management solution (FTTH multi-vendor ONT management) empowering them to deliver exceptional connectivity experiences,' said Yugi Edison, Director Account Management Telco and Public Sector at Multipolar Technology. 'We are excited to continue this collaboration with FiberStar to foster innovation throughout the region.' 'Incognito is proud to be a key enabler of FiberStar's network growth goals,' said Gary Knee, CEO of Incognito. 'The swift deployment of our DX Solution provides network-wide visibility and control over FiberStar's fiber network devices, helping cut costs, reduce demands on operational teams, and improving the quality of experience of all subscribers.' About Incognito Software Systems Inc. Incognito Software Systems Inc. provides service orchestration software and services that help digital service providers manage the next-generation broadband experience. Founded 30 years ago, Incognito has over 200 customers worldwide, including America Movil, Cox, Digicel, Globe, and Orange, leveraging its solutions to fast-track the introduction of innovative broadband services over fiber and 5G fixed wireless access technologies, while delivering a great customer experience. Incognito Software Systems is a Lumine Group company (TSXV: LMN). Visit or follow us on LinkedIn and X (Twitter). View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Business Wire
11-06-2025
- Business
- Business Wire
FiberStar Selects Incognito Software Systems to Optimize Fiber Network and Enhance Wi-Fi Service Quality
VANCOUVER, British Columbia--(BUSINESS WIRE)--PT. Mega Akses Persada (FiberStar), a leading fiber operator in Indonesia, has announced its partnership with Incognito Software Systems, a leading global provider of broadband service orchestration, device management, and network intelligence OSS solutions, to deploy its Digital Experience (DX) Solution to streamline multi-vendor device management and optimize Wi-Fi service quality. With Incognito's solution, FiberStar can take advantage of market-leading TR-069 and Wi-Fi management capabilities to enhance key customer journeys, such as service activation, performance management, and issue resolution. The swift deployment of Incognito's DX Solution provides network-wide visibility and control over FiberStar's fiber network devices, helping cut costs, reduce demands on operational teams, and improve the quality of experience of all subscribers. Share With a focus on designing, building, and operating high-quality, open-access fiber infrastructure that enables enterprise customers and communication service providers to offer triple-play services across 200 cities in Indonesia, FiberStar required a robust device management solution capable of supporting end-to-end provisioning and monitoring of Optical Network Terminals (ONTs) across its network while maintaining visibility of in-home Wi-Fi performance. Thanks to the flexible architecture and standards-based approach of Incognito's solution, the deployment was completed swiftly in just a matter of weeks, allowing FiberStar to quickly enhance its service delivery. Incognito's DX Solution equips FiberStar with real-time visibility into in-home Wi-Fi performance, enabling remote diagnostics, proactive troubleshooting, and seamless configuration updates across multi-vendor devices. This ensures optimized connectivity, reduced service disruptions, and faster resolution of Wi-Fi issues, leading to improved customer satisfaction and trust. Key features of the solution include: Standards-based TR-069 device management and provisioning that is network access agnostic and vendor-neutral; Centrally managed device configurations, including firmware updates, reboots, and parameter changes, to streamline operational processes; Advanced service quality management to validate connection quality, perform automated network-wide monitoring, and conduct individual device diagnostics; Real-time alerts and reporting to provide deeper insights into network performance and long-term trends. 'At FiberStar, we are committed to delivering top-tier fiber services to customers across Indonesia,' says Sugiharto Darmakusuma, President Director at FiberStar. 'By selecting Incognito's proven carrier-grade solution, we can improve operational efficiencies while continuing to meet the growing demands of the Indonesian IT market and exceed customer expectations.' To support this project, Incognito worked with PT Multipolar Technology Tbk to ensure a seamless deployment of the DX Solution for FiberStar. Multipolar Technology played a key role in understanding the networking requirements, facilitating stakeholder collaboration, and ensuring a smooth implementation that enhances FiberStar's service offerings. 'Through our collaboration with Incognito, Multipolar Technology has provided FiberStar with a best-in-class and telco standard device management solution (FTTH multi-vendor ONT management) empowering them to deliver exceptional connectivity experiences,' said Yugi Edison, Director Account Management Telco and Public Sector at Multipolar Technology. 'We are excited to continue this collaboration with FiberStar to foster innovation throughout the region.' 'Incognito is proud to be a key enabler of FiberStar's network growth goals,' said Gary Knee, CEO of Incognito. 'The swift deployment of our DX Solution provides network-wide visibility and control over FiberStar's fiber network devices, helping cut costs, reduce demands on operational teams, and improving the quality of experience of all subscribers.' About Incognito Software Systems Inc. Incognito Software Systems Inc. provides service orchestration software and services that help digital service providers manage the next-generation broadband experience. Founded 30 years ago, Incognito has over 200 customers worldwide, including America Movil, Cox, Digicel, Globe, and Orange, leveraging its solutions to fast-track the introduction of innovative broadband services over fiber and 5G fixed wireless access technologies, while delivering a great customer experience. Incognito Software Systems is a Lumine Group company (TSXV: LMN). Visit or follow us on LinkedIn and X (Twitter).
Yahoo
02-06-2025
- Business
- Yahoo
A Theory Says We Can't Find Advanced Aliens Because They're Not Trying to Be Found
The Fermi Paradox ponders an endlessly fascinating question: If so many worlds exist in the universe, why haven't we detected any sign of extraterrestrial life? A possible reason, called the 'Sustainability Solution,' argues that the search for technosignatures necessitates a particular human bias, suggesting that rapid growth is the only means of society expansion. A new paper reexamining this solution suggests that many societies may face collapse due to the unsustainable aspect of an ever-expanding species, and so many of its technologies could be indistinguishable from nature itself. For more than 40 years, the Search for Extraterrestrial Intelligence (SETI) organization has turned its gaze toward the cosmos in search for an answer to one of humanity's greatest questions: Are we alone? Often taking the form of the 'Fermi paradox'—a 75-year-old thought experiment that explores why there are so many worlds, yet seemingly no alien civilizations—this grand question has inspired a lot of possible solutions. Maybe life is much rarer than we imagine? Maybe it's incredibly difficult to evolve into a modern civilization like ours? Or maybe aliens are speaking in a language we simply don't understand. However, there's one possible solution that eerily speaks to our current moment. Known as the 'Sustainability Solution,' this idea posits that endless economic growth may simply be impossible to sustain, so alien societies either adapt by creating sustainable civilization in harmony with their host planet, or they simply die out. First proposed by Pennsylvania State University scientists Jacob Haqq-Misra and Seth Baum in 2009, the 'Sustainability Solution' suggests that if aliens do exist, they likely wouldn't create the technosignatures we often attribute to advanced civilizations, such as Dyson Spheres or interstellar spacecraft. Instead, these structures (part of the 'technosphere') would blend with the natural world, making them difficult to distinguish. In a new study uploaded to the preprint server arXiv, New York University researcher and philosopher Lukáš Likavčan revitalizes this solution to the Fermi paradox as a lens through which to view humanity's own development. The paper re-conceptualizes technology, history, and sustainability on a planetary scale. 'The ecological limits constrain the topology of viable planetary histories to those evolutionary trajectories where the technosphere successfully folds back into the biosphere,' Likavčan wrote. 'The major result of this reconceptualization is the problematization of the analytical import of technosphere as a category denoting some new geological layer—it seems to be more of a transitory armature of the biosphere's evolution and less of an emerging permanent layer.' Humans play a strange, transitory role in this conceptualization. Of course, being primates, we are of the biosphere. But our creations—at least, as argued by this theory—become part of the theoretically detectable technosphere (whether this region is a permanent fixture or a temporary arm of the biosphere is up for debate). Drawing on a sample size of one (i.e. human civilization), it's easy to think that progress will continue unabated until we become masters of our own Solar System and beyond. However, as Haqq-Mistra and Baum originally stated in 2009, this 'Sustainability Solution' questions the assumption of the unimpeded exponential growth of such civilizations. 'It is still possible that slower-growth ETI civilizations exist but have not expanded rapidly enough to be easily detectable by the searches humans have yet made,' the original authors wrote. 'It is also possible that faster-growth ETI civilizations previously expanded throughout the galaxy but could not sustain this state, collapsing in a way that whatever artifacts they might have left have also remained undetected.' Additionally, Likavčan's idea of 'folding back into the biosphere,' means that advanced civilizations might instead create technologies that are essentially biological in nature in order to remain in balance with their finite resources. To support this point, Likavčan quotes Canadian sci-fi author Karl Schroeder, who wrote that 'any sufficiently advanced technology is indistinguishable from nature,' itself a reformulation of sci-fi Arthur C. Clarke's famous words that compared technology to magic. This could also explain why we haven't found civilizations while looking for technosignatures alone. Magic or no, the nature of the Fermi paradox makes it a 'we won't know until we know' kind of question. But the exploration of possible solutions can also provide a valuable lens through which to value our own society, its future perils, and how we might—against all odds—survive long enough to one day solve this perplexing question. You Might Also Like The Do's and Don'ts of Using Painter's Tape The Best Portable BBQ Grills for Cooking Anywhere Can a Smart Watch Prolong Your Life?
