Market Signal Briefing

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

SummaryAPi Group is rated a strong buy, leveraging regulatory-driven recurring revenue and emerging AI/data center infrastructure demand for robust, defensible growth.APG's valuation implies ~27% upside, with a probability-weighted intrinsic value of $44/share, not fully reflecting AI and data center expansion potential.The company's moat is built on mandatory safety inspections, high-margin service contracts, and efficient acquisition integration, driving margin expansion and predictable cash flow.Downside risks include project delays, competitive pricing pressure, and dilution from preferred equity, but APG's diversified model and strong FCF mitigate these concerns. N-sky/iStock via Getty Images

Investment Thesis The investment case for APi Group (APG) lies in its expanding exposure to data center and AI-related infrastructure, specifically fire suppression and life-safety retrofits within hyperscale and enterprise computation facilities.

The revenue mix shifting to ISM is visible

Analyst’s Disclosure:I/we have a beneficial long position in the shares of APG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The views expressed are my own, written in a personal capacity, and do not represent my employer. This article is for informational purposes only and is not investment advice nor a solicitation of any kind. No MNPI was used in the creation of this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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SummaryClass A shares of the Alger Mid Cap Focus Fund outperformed the Russell Midcap Growth Index during the third quarter of 2025.Robinhood Markets, Inc. (HOOD), Talen Energy Corp (TLN), and Astera Labs, Inc. (ALAB) were among the top contributors to performance.Wingstop, Inc. (WING), Constellation Software Inc.(CNSWF), and Axon Enterprise Inc (AXON) were among the top detractors from performance. PM Images/DigitalVision via Getty Images

The following segment was excerpted from the Alger Mid Cap Focus Fund Q3 2025 Commentary.

Portfolio Update Class A shares of the Alger Mid Cap Focus Fund outperformed the Russell Midcap Growth Index during

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HONG KONG , Nov. 3, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today published its Bitcoin production and mining operations update for October 2025. Bitcoin Mining Production and Mining Operations Update for October 2025 Metric October 2025 1 September 2025  1 Number of Bitcoin produced 602.6 616.6 Average number of Bitcoin produced per day 19.44 20.55 Total number of Bitcoin held 2 6412.6 5,810.0 Deployed hashrate 50 EH/s 50 EH/s Average operating hashrate 3 46.09  EH/s  44.85 EH/s 1.

HOUSTON--(BUSINESS WIRE)--Global energy services provider Expro (NYSE:XPRO) has successfully delivered the first deployment of its new ELITE Composition™ service for a major oil and gas operator in an exploration well in Cyprus. Launched earlier this year, the innovative service delivers laboratory-standard fluid measurements directly at the rig site within approximately eight hours. This is designed to enable faster, better-informed decision-making and reduce rig time. Traditionally, confirmin.

November 03, 2025 5:00 AM EST | Source: Tudor Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - November 3, 2025) - Tudor Gold Corp. (TSXV: TUD) (FSE: H56) (the "Company" or "Tudor") is pleased to announce the completion of the 2025 exploration program (the "Program") at its 80%-owned Treaty Creek Project, located in the heart of the Golden Triangle of Northwestern British Columbia.

Results from the fifth and final drillhole from the Program are reported below.

Drilling Highlights:

Hole GS-25-191-W1 intersected a northeastward extension of the 300 Horizon Zone ("300H"), linking mineralized intercepts within the 300H and 300 North Zone ("300N") along two potential SC-1 Zone structural corridors. Highlights of the mineralized intercepts:

1.37 g/t gold, 4.09 g/t silver and 0.01% copper (1.43 g/t gold equivalent ("AuEQ")) over 23.80 meters (m), including:

1.63 g/t gold, 4.89 g/t silver and 0.02% copper (1.70 g/t AuEQ) over 10.70m, and:

1.76 g/t gold, 1.74 g/t silver and 0.01% copper (1.80 g/t AuEQ) over 6.80m

1.88 g/t gold, 1.71 g/t silver and 0.01% copper (1.91 g/t AuEQ) over 5.90m

See Table 1 below for select drill results of hole GS-25-191-W1 accompanied by a plan map and cross section.

GS-25-191-W1 was targeted to demonstrate continuity between high-grade mineralization on a North-South axis between drillholes GS-25-190 and GS-25-191, as well as a Southwest-Northeast axis connecting the 300H and 300N mineralized domains. This drill hole further confirms a high grade intercept observed in GS-25-191 (4.12 g/t gold, 16.48 g/t silver, and 0.01% copper (4.30 g/t AuEQ) over 8.90m), stepping out 52m to the south intercepting 1.63 g/t gold, 4.89 g/t silver, and 0.02% copper (1.70 g/t AuEQ) over 10.70m. Additionally, a separate high-grade SC-1 like structure was intercepted lower in the hole, stepping out 75m to the north of several drillholes from 2022, providing continuity between 300H and 300N mineralized domains intercepting 1.88 g/t gold, 1.71 g/t silver, and 0.01% copper (1.91 g/t AuEQ) over 5.90m. Furthermore, a third unexpected intercept of 1.76 g/t gold, 1.74 g/t silver and 0.01% copper (1.80 g.t AuEQ) over 6.8m provides continuity to a previously unidentified additional SC-1 structure.

2025 Exploration Program

The 2025 Treaty Creek Exploration Program was designed to target gaps between the 300N and 300H Zones, as well as the recently discovered high-grade SC-1 Zone. The potential for additional high-grade SC-1 Zone-like structures was also targeted, with results confirming and expanding several high-grade corridors within and surrounding the 300N and 300H Zones.

Overall, drilling was successful in intersecting mineralization within and between these zones to confirm the higher-grade gold structures within the bulk-tonnage Mineral Resource at Treaty Creek. Ongoing reinterpretation of historic data is leading to the identification of further high-grade structural zones throughout the Goldstorm Deposit and will be included in an upcoming Mineral Resource estimate for Treaty Creek. The resource update will, in addition to updating the overall Mineral Resource, also provide sensitivity analysis of the tonnes and grade above 2 g/t gold. This analysis will provide Tudor with the ability to assess the potential for a higher-grade underground mine with a smaller footprint to kickstart gold production.

2025-2026 Plans for Treaty Creek

Preparation of an updated Mineral Resource estimate for Treaty Creek is underway, which will include the additional drilling from 2024 and 2025 exploration programs comprising approximately 15,000 meters of drill data. The updated block model used to estimate the 2025 Mineral Resource will be comprised of 5mx5mx5m blocks rather than the 10mx10mx10m blocks used to estimate the 2024 Mineral Resource estimate. The smaller block size will provide better resolution of the higher-grade gold mineralization. The updated Mineral Resource estimate is targeted to be completed in the fourth quarter of this year.

On receipt of the permit for the development of an underground ramp (see news release dated August 14, 2025 in respect of the filing of the permit application) to access the high-grade gold SC-1 Zone and the other zones, Tudor plans to collar the portal, and commence the excavation of, the underground ramp. Subject to receipt of all necessary permits, Tudor plans to commence the underground excavation in the third quarter of 2026.

Tudor is assessing opportunities for increasing the gold Mineral Resources at Treaty Creek in 2026 by drilling other known zones on the property. In particular, Tudor plans to follow up on drill hole PS-23-10 at the Perfectstorm Zone, which intersected 1.23 g/t gold, 3.43 g/t silver and 0.01% copper over 102.15 meters, including 1.80 g/t gold, 5.76 g/t silver and 0.02 % copper over 42.5 meters. Tudor expects to firm up exploration plans for 2026 over the winter.

Table 1: Select Drill Results for 2025 Exploration Program

HoleCollar
CoordsDip/
AzimuthFrom
(m)To
(m)Interval
(m)Gold
(g/t)Silver
(g/t)Copper
(%)AuEQ(3)
(g/t)GS-25-188429024 mE
6273658 mN-62/283900.00954.0054.002.3116.980.072.57

Including900.00906.006.004.0799.860.455.64

and901.50903.001.505.90343.001.4511.16GS-25-189429024 mE 6273658 mN-71/293836.00845.009.002.450.940.012.48

882.50885.503.007.014.220.017.06

1130.001334.00204.000.654.780.481.29

1355.401365.6010.203.726.040.294.14

Including1357.501361.003.505.811.000.386.29GS-25-190428884 mE
6273677 mN-66/235857.50931.0073.501.703.460.011.75

including872.00910.0038.002.032.060.012.06

Including872.00880.008.002.583.010.012.62

and899.50910.0010.504.413.460.014.46GS-25-191428884 mE
6273677 mN-64/245776.50822.5046.001.7012.560.021.85

including782.00790.908.904.1216.480.014.30

and812.10819.507.401.9125.060.012.17GS-25-191-W1428884 mE
6273677 mN-64/245311.80335.6023.801.374.090.011.43

including311.80322.5010.701.634.890.021.70

441.00447.806.801.761.740.011.80

548.55554.455.901.881.710.011.91All assay values are uncut and intervals reflect drilled intercept lengths.HQ and NQ diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals.The following metal prices were used to calculate the Au Eq metal content: Gold $1850/oz, Ag: $21/oz, Cu: $3.75/lb. Calculations used the formula AuEQ = Au g/t + (Ag g/t*0.0100901) + (Cu ppm*0.0001236). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver.True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.

Plan Map of Drillhole GS-25-191-W1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4494/272911_3545806fd4d2ebbc_001full.jpg

Cross Section of Drillhole GS-25-191-W1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4494/272911_3545806fd4d2ebbc_002full.jpg

2025 Deposit Overview

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4494/272911_3545806fd4d2ebbc_003full.jpg

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's Senior Vice President of Exploration, Ken Konkin, P. Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

QA/QC

Diamond drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA Labs' Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.

About Treaty Creek

The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. The Goldstorm Deposit has an Indicated Mineral Resource of 21.66 million ounces gold grading 0.92 g/t, 2.87 billion pounds copper grading 0.18% and 128.73 million ounces silver grading 5.48 g/t and an Inferred Mineral Resource of 4.88 million ounces gold grading 1.01 g/t, 503.2 million pounds copper grading 0.15% and 28.97 million ounces silver grading 6.02 g/t, as disclosed in the "NI-43-101 Technical Report for the Treaty Creek Project", dated April 5, 2024 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc. The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the Deposit.

About Tudor Gold

Tudor Gold Corp. is a precious and base metals exploration and development company with claims in British Columbia's Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek Project (in which Tudor Gold has an 80% interest) borders Seabridge Gold Inc.'s KSM property to the southwest and borders Newmont Corporation's Brucejack Mine property to the southeast.

For further information, please visit the Company's website at www.tudor-gold.com or contact:

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

Cautionary Statements regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the Company's planned exploration activities will be completed in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

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 plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272911

Strong operating performance delivered double-digit growth on both the top and bottom lineRaising full year 2025 guidance and issuing full year 2026 guidanceAnnounces business combination with Husky Technologies, creating a $7.4 billion best-in-class, diversified compounder SOMERSET, N.J., Nov. 03, 2025 (GLOBE NEWSWIRE) -- CompoSecure, Inc. (NYSE: CMPO), a leader in metal payment cards, security, and authentication solutions, today announced its financial and operating results for the third quarter ended September 30, 2025. Concurrently, CompoSecure announced a business combination with Husky Technologies Limited (“Husky”), a market leading manufacturer of engineered equipment and aftermarket services, in a transaction that will value the combined business at approximately $7.4 billion.

Jon Wilk, President and CEO of CompoSecure, noted: “CompoSecure’s third quarter performance exceeded expectations across all key metrics, driven by strong customer demand, expansion of existing programs, new client wins, and significant operating improvements. The CompoSecure Operating System continues to serve as the foundation of our execution, enabling double-digit organic growth, gross margin expansion, and enhanced profitability. Arculus delivered another net positive quarter and continues to gain traction with banks and fintechs that are launching innovative card programs and seeking integrated security solutions. With sales momentum building and operating efficiency improving, we are raising our 2025 outlook and introducing guidance for 2026.”

Dave Cote, CompoSecure’s Executive Chairman, stated: “A year after our investment in CompoSecure, we are beginning to see results from the implementation of the Operating System and the focus on developing a high-performance culture. These efforts, and the related investments we initiated last year, are beginning to pay off. The business is performing well, but we are still early, and believe more in the future opportunity for CompoSecure than when we first invested.”

“In addition to the strong quarter at CompoSecure, we are delighted to announce the business combination with Husky. This is a business Tom and I have long admired, and it hits all the key criteria we look for in every investment – it holds a great position in a good industry, significant technology differentiation, organic and inorganic growth possibilities, and margin expansion potential. We are excited to begin working with the Husky team and believe the combined business is uniquely well positioned to deliver for investors.”

Husky will be run as a standalone business alongside CompoSecure and will continue to operate under its current management team.

“We believe this combination will create value and unlock new opportunities for Husky and its stakeholders,” said Platinum Equity Co-President Louis Samson. “We have great respect for David Cote’s leadership, share his conviction in this opportunity and are excited to roll more than $1 billion of equity into the deal. We have partnered with Dave, Tom Knott, and the team at Resolute before and look forward to working with them to create value again.”

Platinum Equity, Cote, and Knott brought Vertiv to market together in 2019.

Samson and Platinum Equity Managing Director Delara Zarrabi are expected to join the CompoSecure Board of Directors.

Transaction Terms

Under the terms of the transaction, CompoSecure will combine with Husky for an enterprise value of approximately $5 billion, representing approximately 11.2x 2026E Pro Forma Adjusted EBITDA of $445 million1. The combined entity2 will have a pro forma enterprise value of approximately $7.4 billion3, representing approximately 11.6x 2026E Pro Forma Net Adjusted EBITDA of approximately $635 million4.

The business combination is being funded through a private placement of approximately $2.0 billion and equity rollover of approximately $1.0 billion from Platinum Equity. Pro forma net LTM leverage is expected to be approximately 3.5x5 with the ability to naturally de-lever approximately 0.8x per year. The Husky subsidiary will enter into a management agreement with Resolute Holdings on substantially similar terms as the CompoSecure Management Agreement.

The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions, including regulatory approval. The transaction is expected to be 20%+ accretive to adjusted diluted earnings per share in the first full year post-closing.

______________________________
1 Net of management fees to Resolute Holdings.
2 CompoSecure, Inc. expected to be renamed prior to closing with CompoSecure and Husky expected to be separate reporting subsidiaries.
3 Enterprise value based on private placement price of $18.50 / share of CompoSecure common stock.
4 Non-GAAP Pro Forma Adjusted EBITDA net of management fees to Resolute Holdings.

Financial Results

As a result of the spin-off of Resolute Holdings Management, Inc. (“Resolute Holdings”) on February 28, 2025 and the execution of the management agreement with Resolute Holdings (the “Management Agreement”), CompoSecure is required to account for the operating results of its wholly owned operating subsidiary, CompoSecure Holdings, L.L.C. (“CompoSecure Holdings”), under the equity method in accordance with U.S. GAAP, effective February 28, 2025.

The GAAP results presented below for the third quarter of 2025 reflect the conversion to equity method accounting. For clarity of comparisons and to best reflect the financial results, the Company is also presenting the full third quarter on a consolidated basis consistent with historical presentation under the “Non-GAAP” heading.

 
3Q 2025
  
3Q 2024
   GAAP   Non-GAAP    GAAP    Non-GAAP  Net Sales ($ in millions)$—  $120.9 1 $107.1 2 $107.1 1,2Gross Profit ($ in millions)$—  $71.3 1 $55.4 2 $55.4 1,2Gross Margin (%) —   59.0% 1  51.7% 2  51.7% 1,2Pro-Forma Adjusted EBITDA ($ in millions)    $47.7 1      $36.6 1,3EPS/Adjusted EPS - Diluted$(1.58) $0.29 1 $(1.10)  $0.23 1Cash and Cash Equivalents ($ in millions)$127.4  $224.6 1,2,4
$52.7 2,5 $52.7 2,5Short-Term Investments ($ in millions)$—  $40.7 4,7  —    —  Total Debt ($ in millions)    $190.0 4,6      $330.0 5,6                    1Refers to a Consolidated Non-GAAP measure. 2For 3Q24, Net Sales, Gross Profit, Gross Margin and Cash and Cash Equivalents are identical on a GAAP and non-GAAP basis, because such measures have historically been shown on a consolidated basis. As of September 30, 2025, $97.2 million of cash was held at CompoSecure Holdings, and not included in the GAAP results. 3Pro Forma Adjusted EBITDA includes $3.7 million and $3.4 million management fee expense in 3Q25 and 3Q24, respectively. It was included as a pro forma adjustment to 3Q24 to allow for comparability across periods. 4As of September 30, 2025. 5As of September 30, 2024. 6Non-GAAP Total Debt is comprised entirely of debt at Holdings. 7Investment in U.S. Treasury bills as of September 30, 2025.

Operating Results – Q3 2025 Financial Highlights (vs. Q3 2024)

Non-GAAP Net Sales increased 13% to $120.9 million, during the third quarter of 2025 compared to $107.1 million during the third quarter of 2024, driven by strong domestic demand and new program wins across both traditional banks and fintechs.Non-GAAP Gross Profit increased to $71.3 million or 59.0% gross margin, compared to $55.4 million, or 51.7% gross margin, in the third quarter of 2024. The gross margin expansion reflects continued efficiency gains driven by the CompoSecure Operating System.GAAP Net Loss was ($174.7) million compared to GAAP net loss of ($85.5) million in the year-ago period. The net loss was driven by non-cash items relating to the revaluation of warrant and earnout liabilities.GAAP Earnings Per Share attributable to Class A common shareholders was ($1.58) (Basic) and ($1.58) (Diluted) compared to ($1.10) (Basic) and ($1.10) (Diluted) for the year-ago period. Non-GAAP Adjusted Net Income was $34.0 million compared to $24.3 million in the year-ago period.Non-GAAP Adjusted Earnings Per Share was $0.31 (Basic) and $0.29 (Diluted) compared to $0.27 (Basic) and $0.23 (Diluted) in the year-ago period. Non-GAAP Pro Forma Adjusted EBITDA increased 30% to $47.7 million compared to $36.6 million in the year-ago period, due primarily to strong organic sales growth and continued margin expansion. _________________________
5 On a pro forma basis at closing assuming management fees charged historically to Husky.

Financial Condition

GAAP Financial Condition: At September 30, 2025, CompoSecure had $127.4 million of cash and cash equivalents. The Company's liquidity needs are expected to be met with funding from the operations of CompoSecure Holdings.Non-GAAP Financial Condition: At September 30, 2025, CompoSecure had $265.3 million of cash and short term investments, and $190.0 million of total debt for total net cash of $75.3 million. This compares to cash and cash equivalents of $52.7 million and total debt of $330.0 million at September 30, 2024 for total net debt of $277.3 million. The increase in cash was primarily driven by $154.4 million in proceeds from warrant exercises as well as operating free cash flow. Additional Highlights

Numerous high-profile programs include: Citi Strata Elite, Chime, Itau, Bank of America (Alaska Airlines), BMO Escape, Iberia, Uphold, and Gemini XRP, among othersAppointed new Chief Financial Officer — Mary HoltPartnered with N.exchange to enhance the Arculus Cold Storage Wallet with Smart Order Router for better-priced crypto swapsTransferred Class A Common Stock to the New York Stock Exchange (NYSE)Repurchased approximately 648,000 shares for $12.2 million, reflecting an average purchase price of $18.89 per shareHolders exercised 18.8 million warrants for approximately $149.5 million in cash 2025 and 2026 Financial Outlook

CompoSecure raised guidance for the full year and now expects total Non-GAAP Net Sales of approximately $463 million and Non-GAAP Pro Forma Adjusted EBITDA of approximately $165-170 million.

CompoSecure also announced financial guidance for fiscal year 2026, expecting total Non-GAAP Net Sales of approximately $510 million, up 10% year-over-year, and Non-GAAP Pro Forma Adjusted EBITDA of approximately $190 million, up 12-15% year-over-year, reflecting continued confidence in its growth strategy and operational execution.

This guidance does not include any impact from the announced acquisition of Husky.

Note: Guidance for Pro Forma Adjusted EBITDA includes the payment of the Resolute Holdings management fee.

Third Quarter 2025 Earnings Conference Call

CompoSecure’s management team will discuss the Company’s results during a conference call on Monday, November 3, 2025, starting at 8:00 a.m. Eastern Time. The call will contain forward-looking statements and other material information regarding CompoSecure’s financial and operating results. A live webcast and replay of the conference call will be available for interested parties to listen to by going to the Investor Relations section of the Company’s website at https://ir.composecure.com/news-events/events.

Date: Monday, November 3, 2025
Time: 8:00 a.m. Eastern time
Dial-in registration link: (646) 307-1963; Participant Code: 6594374
Live webcast registration link: here

If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.

Advisors

Morgan Stanley & Co. LLC acted as financial advisor to CompoSecure on the transaction and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to CompoSecure. Goldman Sachs acted as exclusive financial advisor and Latham & Watkins LLP served as legal counsel to Husky Technologies.

About CompoSecure

Founded in 2000, CompoSecure (NYSE: CMPO) is a technology partner to market leaders, fintechs and consumers enabling trust for millions of people around the globe. The Company combines elegance, simplicity and security to deliver exceptional experiences and peace of mind in the physical and digital world. CompoSecure’s innovative payment card technology and metal cards with Arculus security and authentication capabilities deliver unique, premium branded experiences, enable people to access and use their financial and digital assets, and ensure trust at the point of a transaction. For more information, please visit CompoSecure.com and GetArculus.com.

About Husky Technologies

Founded in 1953, Husky is a leading global supplier of engineered equipment and aftermarket services. The company’s products are used to manufacture a wide range of plastic products, including beverage and food containers, medical devices and consumer electronic parts. Husky provides comprehensive and integrated systems solutions that are comprised of injection molding machines, molds, hot runners, controllers, and auxiliaries. Husky has more than 30 locations globally, supporting customers in over 140 countries. Husky’s manufacturing facilities are located in Canada, the United States, China, India, Luxembourg, and Switzerland. For more information, please visit Husky.co.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management. Although CompoSecure believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, CompoSecure cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning CompoSecure’s possible or assumed future actions, business strategies, events, results of operations, demand, the implementation of the CompoSecure Operating System and guidance for 2025 and 2026 are forward-looking statements. In some instances, these statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “outlook” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements which speak only as of the date hereof. You should understand that the following important factors, among others, could affect CompoSecure’s future results and could cause those results or other outcomes to differ materially from those expressed or implied in CompoSecure’s forward-looking statements: the ability of CompoSecure to grow and manage growth profitably, maintain relationships with customers, compete within its industry and retain its key employees; the possibility that CompoSecure may be adversely impacted by other global economic, business, competitive and/or other factors, including tariffs; the outcome of any legal proceedings that may be instituted against CompoSecure or others; future exchange and interest rates; changes in our accounting and/or financial presentation; and other risks and uncertainties, including those under “Risk Factors” in filings that have been made or will be made with the Securities and Exchange Commission. CompoSecure undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Use of Non-GAAP Financial Measures

Due to the spin-off of Resolute Holdings Management, Inc. and the resulting shift to equity method accounting under GAAP beginning February 28, 2025, CompoSecure is presenting a broader set of Non-GAAP measures, including an Adjusted Statement of Operations (Unaudited), an Adjusted Balance Sheet (Unaudited) to provide investors with financial information that we believe allows for greater comparability with our historical financial presentation and better represents the underlying performance of the standalone business across reporting periods. This press release also includes certain Non-GAAP financial measures that are not prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and that may be different from Non-GAAP financial measures used by other companies. CompoSecure believes Non-GAAP Net Sales, Non-GAAP Gross Profit, Non-GAAP Gross Margin, EBITDA, Adjusted EBITDA, Non-GAAP Pro Forma Adjusted EBITDA, Non-GAAP Pro Forma Adjusted EBITDA Margin, Non-GAAP Adjusted Net Income, Non-GAAP Adjusted EPS (Basic and Diluted), Non-GAAP Adjusted Net Income, Non-GAAP Cash, Non-GAAP Net Debt, Non-GAAP Net Debt Leverage Ratio and Free Cash Flow, and related measures are useful to investors in evaluating CompoSecure’s financial performance. Specifically, we believe EBITDA, Adjusted EBITDA, Non-GAAP Adjusted EPS (Basic and Diluted) Non-GAAP Pro Forma Adjusted EBITDA, and Non-GAAP Pro Forma Adjusted EBITDA Margin provide valuable insight into operational efficiency independent of capital structure and tax environment; Non-GAAP Net Sales, Non-GAAP Gross Profit, Non-GAAP Gross Margin, Non-GAAP Cash, Non-GAAP Net Debt, Non-GAAP Net Debt Leverage Ratio and Free Cash Flow offer investors a clearer view of ongoing profitability by excluding non-recurring and non-operational items; and related measures provide greater comparability with CompoSecure’s historical results, following the change in accounting presentation required as a result of the spin-off of Resolute Holdings. CompoSecure uses these Non-GAAP measures internally to establish forecasts, budgets and operational goals to manage and monitor its business, as well as evaluate its underlying historical performance and/or measure incentive compensation. We believe that these Non-GAAP financial measures depict the true performance of the business by encompassing only relevant and controllable events, enabling CompoSecure to evaluate and plan more effectively for the future. These Non-GAAP measures should not be considered as measures of financial performance under U.S. GAAP, and the items excluded from these measures are significant components in understanding and assessing CompoSecure’s financial performance. Accordingly, these key business metrics have limitations as an analytical tool. They should not be considered as an alternative to net income or any other performance measures derived in accordance with U.S. GAAP or as an alternative to cash flows from operating activities as a measure of CompoSecure’s liquidity. These Non-GAAP measures may be different from similarly titled Non-GAAP measures used by other companies. Additionally, CompoSecure’s debt agreements contain covenants based on variations of these measures for purposes of determining debt covenant compliance. CompoSecure believes that investors should have access to the same set of tools that its management uses in analyzing operating results. Please refer to the tables below for the reconciliation of GAAP measures to these Non-GAAP measures. Due to the forward-looking nature of the financial guidance included above, the charges excluded from the forward-looking Non-GAAP financial measures including Non-GAAP Net Sales, Non-GAAP Pro Forma Adjusted EBITDA (including year-over-year growth and multiples), including with respect to depreciation, amortization, interest, and taxes that would be required to reconcile the Non-GAAP financial measures to GAAP measures are inherently uncertain or difficult to predict, so it is not feasible to provide accurate forecasted Non-GAAP reconciliations without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included, and no reconciliation of the forward-looking Non-GAAP financial measures is included.

CompoSecure Corporate Contact
Anthony Piniella
Head of Communications, CompoSecure
(917) 208-7724
[email protected]

CompoSecure Investor Relations Contact
Sean Mansouri, CFA
Elevate IR
(720) 330-2829
[email protected]

Husky Technologies Corporate Contact
[email protected]

Balance Sheet
($ in thousands, except per share amounts)
(unaudited)  GAAP Non-GAAP GAAP September 30,
2025 September 30,
2025 December 31,
2024ASSETS     CURRENT ASSETS     Cash and cash equivalents$127,362 $224,593 $77,461 Short-term investments —  40,667  — Accounts receivable —  64,172  47,449 Inventories, net —  43,746  44,833 Prepaid expenses and other current assets 4,665  7,540  4,159 Total current assets 132,027  380,718  173,902       Property and equipment, net and right of use assets —  28,196  28,852 Deferred tax asset 289,152  289,152  264,815 Other assets —  4,715  6,349 Equity method investment 84,296  —  — Total assets$505, 475 $702,781 $473,918       LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)     CURRENT LIABILITIES     Accounts payable 1,518  14,075  11,544 Accrued expenses 40,841  81,873  25,711 Current portion of long-term debt —  15,000  11,250 Other current liabilities 16,103  18,235  27,817 Total current liabilities 58,462  129,183  76,322       Long-term debt, net of deferred financing costs —  173,431  184,389 Warrant liability 41,427  41,427  104,231 Lease liabilities – operating leases —  6,634  3,888 Tax receivable agreement liability 253,117  253,117  248,534 Total liabilities 353,006  603,792  617,364       Shareholders' equity (deficit) 152,469  98,989  (143,446)Total liabilities and shareholder's equity (deficit)$505,475 $702,781 $473,918 
Note: The non-GAAP balance sheet represents a consolidation of the Company’s results with those of CompoSecure Holdings, for consistency with prior consolidated presentation.

Statements of Operations
Three Months Ended September 30, 2025 and 2024
($ in thousands, except per share amounts)
(unaudited) GAAP to Non-GAAP Operating ResultsThree Months Ended September 30, 2025Three Months
Ended
September
30, 2024 GAAPEquity Method AdjustmentsNon-GAAPNon-GAAP As ReportedElimination of
Equity Method
InvestmentAddition of
HoldingsAs AdjustedAs ReportedNet sales$— $— $120,865 $120,865 $107,135 Cost of sales —  —  49,538  49,538  51,727 Gross profit —  —  71,327  71,327  55,408 Operating expenses:     Selling, general and administrative expenses 9,939   29,610  39,549  26,316 Income from operations (9,939) —  41,717  31,778  29,092       Other (expense) income:     Revaluation of warrant liability (117,267)   (117,267) (74,418)Revaluation of earnout consideration liability (57,610)   (57,610) (34,530)Change in fair value of derivative liability —    —  544 Interest expense —   (3,371) (3,371) (6,303)Interest income 287   1,458  1,745  1,167 Loss on extinguishment of debt    —  (148)Amortization of deferred financing costs —   (167) (167) (249)Total other (expense) income, net (174,590) —  (2,080) (176,670) (113,937)Income before income taxes (184,529) —  39,637  (144,892) (84,845)Income tax expense (29,804)   (29,804) (629)Earnings in CompoSecure Holdings L.L.C equity method investment 39,637  (39,637)  —  — Net (loss) income$(174,696)$(39,637)$39,637 $(174,696)$(85,474)      Add:     Depreciation and amortization    2,288  2,331 Income tax (benefit) expense    29,804  629 Interest expense, net (1)    1,793  5,533 EBITDA   $(140,811)$(76,981)      All other changes     Stock-based compensation    5,882  5,634 Mark to market adjustments (2)    174,877  108,404 Add back incurred Management Fees    3,698  — Debt refinance costs    —  225 Resolute transactions costs    —  2,726 Additional earnout costs    4,967  — Transaction costs    2,806  — All other changes   $192,230 $116,989       Adjusted EBITDA   $51,419 $40,008 Add back expenses incurred on behalf of Resolute Holdings prior to Spin-Off    —  Pro Forma full quarter Management Fee    (3,698) (3,379)Pro Forma Adjusted EBITDA   $47,721 $36,629  Note: The Non-GAAP columns represent a consolidation of the Company’s results with those of CompoSecure Holdings, for consistency with prior period presentation. 1Includes amortization of deferred financing costs for the three months ended September 30, 2025 and 2024, respectively. 2Includes changes in fair value of warrant liability, derivative liabilities and earnout consideration liability for the three months ended September 30, 2025 and 2024, respectively.

Consolidated Statements of Cash Flows(in thousands) (unaudited)       Nine Months Ended September 30,  2025   2025   2024  As reported Non GAAP As reportedCASH FLOWS FROM OPERATING ACTIVITIES:     Net loss$(179,329) $(179,329) $(34,804)Adjustments to reconcile net (loss) income to net cash provided by operating activities    Depreciation and amortization 1,623   6,902   6,932 Stock-based compensation expense 4,223   16,788   15,269 Earnings in equity method investment (93,390)  -   - Cash receipts from Holdings 21,659   -   - Loss on extinguishment of debt -   -   148 Non-cash interest -   (667)  - Amortization of deferred finance costs 74   464   958 Revaluation of earnout consideration liability 57,101   57,101   34,060 Revaluation of warrant liability 152,782   152,782   76,211 Change in fair value of derivative liability -   -   (425)Deferred tax expense (1,837)  (1,837)  (3,510)Changes in assets and liabilities 28,201   39,713   600 Net cash (used in) provided by operating activities (8,893)  91,917   95,439       CASH FLOWS FROM INVESTING ACTIVITIES:     Purchase of property and equipment -   (2,951)  (4,782)Purchase of treasury bills -   (40,000)  - Holdings cash deconsolidated as a result of the Management Agreement (50,303)  -   - Resolute Holdings cash deconsolidated as a result of the Spin-Off (10,000)  -   - Capitalized software expenditures (387)  (1,235)  (729)Net cash used in investing activities (60,690)  (44,186)  (5,511)      CASH FLOWS FROM FINANCING ACTIVITIES:     Proceeds from employee stock purchase plan and exercise of options 121   871   2,895 Payments for taxes related to net share settlement of equity awards (18,011)  (21,336)  (8,482)Payment of term loan -   (7,500)  (10,333)Payment of tax receivable agreement liability (4,735)  (4,735)  (1,303)Purchase of treasury shares (12,247)  (12,247)  - Deferred finance costs related to debt modification -   -   (1,889)Contribution to Resolute Holdings -   (10,008)  - Distributions to non-controlling interest -   -   (34,863)Special distribution to non-controlling interest -   -   (15,573)Dividend to Class A shareholders -   -   (8,922)Proceeds from the exercise of warrants 154,356   154,356   - Net cash used in financing activities 119,484   99,401   (78,470)Net (decrease) increase in cash and cash equivalents 49,901 - 147,132   11,458 Cash and cash equivalents, beginning of period 77,461   77,461   41,216 Cash and cash equivalents, end of period$127,362  $224,593  $52,674   -     Supplementary disclosure of cash flow information     Cash paid for interest$2,164  $9,876  $16,987 Cash paid for income taxes$16,770  $16,770  $3,420 Supplemental disclosure of non-cash financing activity:     Operating lease ROU assets exchanged for lease liabilities$4,224  $4,224  $- Revaluation of derivative asset - interest rate swap$(502) $2,136  $(2,422)Non-cash portion of warrant exercise$(215,586) $(215,586) $- Settlement of earnout phase two$(77,634) $(77,634) $- Contribution to Holdings for share-based compensation$12,565  $-  $- Holdings net liabilities, excluding cash and cash equivalent, deconsolidated as a result of Management Agreement$(98,508) $(98,508) $- Resolute Holdings net liabilities, excluding cash and cash equivalent, deconsolidated as a result of Spin-Off$(1,542) $-  $-        Note: The Non-GAAP September 30, 2025 statement of cash flows represents a consolidation of the Company’s results with those of CompoSecure Holdings, for consistency with prior consolidated presentation.

Earnings Per Share
Non-GAAP Reconciliation  Basic Three Months Ended September 30, Nine Months Ended September 30,  2025  2024   2025  2024 (in thousands, except per share data)     Net loss$(174,696)$(85,474) $(179,329)$(34,804)Add: Provision for income taxes 29,804  629   55,046  51 Add: Mark-to-market adjustments (1) 174,877  108,404   209,883  109,846 Add: Stock-based compensation 5,882  5,634   16,788  15,269 Less: Pro forma Management Fees —  (3,379)  (2,045) (9,906)Add: Additional earnout costs 4,967  —   4,967  — Add: Transaction costs 2,806  —   2,806  — Add: Secondary offering transaction costs —  —   —  586 Add: Debt refinance costs —  225   —  225 Add: Resolute transactions costs —  2,726   —  2,726 Add: Spin-Off costs —  —   5,452  — Adjusted net income before tax 43,640  28,765   113,568  83,993 Income tax expense (2) 9,649  6,248   25,110  18,243 Adjusted net income 33,991  22,517   88,458  65,750       Common shares outstanding used in computing net income per share, basic:     Class A and Class B common shares (3) 110,265  82,222   105,280  81,303 Adjusted net income per share – basic$0.31 $0.27  $0.84 $0.81              Diluted Three Months Ended September 30, Nine Months Ended September 30,  2025  2024   2025  2024 (in thousands, except per share data)     Adjusted net income 33,991  22,517   88,458  65,750 Add: Interest on Exchangeable Notes net of tax (5) —  1,781   —  5,343 Adjusted net income used in computing net income per share, diluted 33,991  24,298   88,458  71,093       Common shares outstanding used in computing earnings per share, diluted: 110,265  82,222   105,280  81,303 Warrants (4) 1,746  8,094   1,393  8,094 Exchangeable Notes (5) —  13,000   —  13,000 Equity awards 5,070  3,544   4,114  2,915 Total shares outstanding used in computing adjusted earnings per share – diluted 117,081  106,860   110,787  105,312 Adjusted net income per share – diluted$0.29 $0.23  $0.80 $0.68 
1) Includes the changes in fair value of warrant liability, make-whole provision of Exchangeable Notes and earnout consideration liability.

2) Reflects current and deferred income tax expenses. For the three and nine months ended September 30, 2024 it was calculated using the Company's blended tax rate as if the Company did not have any non-controlling interest associated with its historical Up-C structure. For the three and nine months ended September 30, 2025, it was calculated by applying the Company's assumed tax rate.

3) Assumes both Class A and Class B shares participate in earnings and are outstanding at the end of the period. There were no Class B shares outstanding as of September 30, 2025.

4) Assumes treasury stock method. Valuation of $17.30 and $13.99 for the three and nine months ended September 30, 2025, respectively, and $18.00 for the three and nine months ended September 30, 2024.

5) The Exchangeable Notes were included through the application of the "if-converted" method. Interest related to the Exchangeable Notes, net of tax was excluded from net income. No Exchangeable Notes were outstanding during the three and nine months ended September 30, 2025.

November 03, 2025 5:00 AM EST | Source: Universal Digital Inc.
Vancouver, British Columbia--(Newsfile Corp. - November 3, 2025) - Universal Digital Inc. (CSE: LFG) (FSE: 8R20) (OTCQB: LFGMF) (the "Company") is pleased to announce the Company has closed the first tranche (the "First Tranche") of the previously announced private placement of senior secured convertible debentures (the "Convertible Debentures") and common share purchase warrants (the "Warrants") with Helena Global Investment Opportunities 1 Ltd. ("Helena"). The Company issued $3,336,364 of principal amount of Convertible Debentures and 834,091 Warrants in the First Tranche.

The Company is also pleased to announce that it and Helena have amended the subscription agreement (the "Subscription Agreement") for the Convertible Debenture financing such that the minimum conversion price for the Convertible Debentures has been raised from $0.05 to $0.30.

The Convertible Debentures have a one-year term from the date hereof (the "Term"). The Convertible Debentures are convertible into common shares of the Company (the "Common Shares") at Helena's option at anytime during the Term at a conversion price per Common Share equal to 100% of the closing price of the Common Shares on the Canadian Securities Exchange (the "CSE") on the trading day immediately preceding the submission of a conversion notice, subject to a minimum price equal to $0.30. The Convertible Debentures bear interest at a rate of 17.5% per annum, with interest for the Term paid by the Company in cash on closing of the First Tranche. The Convertible Debentures are secured pursuant to the terms of a security agreement (the "Security Agreement") securing all Bitcoin presently owned by the Company, as well as the Purchased Bitcoin (as defined herein) subsequently acquired. The Company has also paid to Helena a facilitation fee equal to $100,000 on the closing of the First Tranche.

Each Warrant issued in the First Tranche entitles Helena to purchase one Common Share until October 31, 2028 at an exercise price of $0.637.

The conversion of Convertible Debentures by Helena, the exercise of any Warrants and the subscription for any further Convertible Debentures, are restricted if such subscription, conversion or exercise would cause Helena, together with any affiliate thereof, to beneficially own in excess of 9.9% of the number of Common Shares outstanding immediately after giving effect to such conversion. In no event shall any issuance by the Company of Convertible Debentures, Warrants or Common Shares underlying either the Convertible Debentures or Warrants be effective or enforceable if such issuance would result in Helena and/or any person acting on combination or concert with Helena becoming a new Control Person (as such term is defined in the policies of the CSE) or otherwise holding enough Common Shares to Materially Affect Control (as such term is defined in the policies of the CSE) of the Company, without first obtaining approval of the holders of Common Shares in accordance with the policies of the CSE or any other exchange upon which the Common Shares were listed or trading.

Pursuant to the Subscription Agreement, the Company is required to use 80% of the net proceeds from each Tranche for the purchase of Bitcoin (the "Purchased Bitcoin") and the remaining 20% of the net proceeds from each Tranche may be used for general working capital purposes. The Purchased Bitcoin, together with the Bitcoin currently owned by the Company, will be held in a custodial account and secured pursuant to the Security Agreement.

Joseph Gunnar & Co., LLC acted as the sole placement agent in connection with the Private Placement.

Helena is an "accredited investor" as such term is defined in National Instrument 45-106 - Prospectus Exemptions. All securities issued in connection with the Private Placement are subject to a statutory hold period of four months and one day from each closing date in accordance with applicable securities legislation.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available.

About Universal Digital Inc.

Universal Digital Inc. is a Canadian investment company focused on digital assets, businesses and private and publicly listed entities that are involved in high-growth industries, with a particular focus on blockchain, cryptocurrencies and cryptocurrency technologies. The Company aims to provide shareholders with long-term capital growth through a diversified investment approach, and to participate in the transformation of global finance through the integration of digital asset strategies.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements

This news release includes statements containing certain "forward‐looking information" within the meaning of applicable securities law ("forward‐looking statements"). Forward-looking statements in this release include, but are not limited to, statements with respect to the size of the completion of any further, or all anticipated tranches on the terms described herein or at all; and the Company's anticipated use of proceeds from the Private Placement. Forward‐looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "should", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward‐looking statements throughout this news release. Forward‐looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties (including market conditions) and other factors that could cause actual events or results to differ materially from those projected in the forward‐looking statements, including those risk factors described in the Company's most recent Annual Information Form filed with Canadian securities regulators and available on the Company's issuer profile on SEDAR+ at www.sedarplus.ca. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR PUBLICATION, RELEASE OR DISSEMINATION IN THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272908

HomePersonal FinanceReal EstateRealtor.comRealtor.comThe tech titan has homes in San Francisco, Silicon Valley and Hawaii.Published: Nov. 3, 2025 at 5:02 a.m. ET

Nvidia CEO Jensen Huang is celebrating a significant milestone in the chipmaker’s history—after it became the first company in the world to reach a valuation of $5 trillion.

The jaw-dropping display of wealth marks a dominant turning point for the tech industry, which has seen unprecedented growth in recent months amid an artificial intelligence boom, a movement led in large part by Nvidia NVDA and its influential leader.

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Dash (DASH) has surged over 65% this week, hitting a three-year high after its listing on the Aster decentralized exchange.Analysts see further upside, setting price targets over $100, supported by strong bullish sentiment and renewed privacy coin interest.The broader privacy coin sector is up 186.8% in 2025, with DASH joining Zcash and others as key leaders of the year’s top-performing category.Dash (DASH), a privacy-focused cryptocurrency, has surged more than 65% over the past week, reaching a three-year high yesterday.

As investor interest in privacy coins grows, analysts have issued bullish price targets for DASH, with many projecting further upside potential above $100.

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Why Is DASH’s Price Surging?According to BeInCrypto Markets data, DASH, the fourth-largest privacy coin by market capitalization, has maintained an upward trend over the past month despite broader market challenges. During this period, the token’s value has increased by approximately 190%.

On November 2, DASH reached $96.9, marking its highest level since May 2022. The move followed DASH’s listing on Aster, a decentralized perpetual exchange. The platform launched DASH perpetual trading with up to 5x leverage.

Typically, a new exchange listing boosts a token’s visibility and liquidity, often driving short-term price gains and increased trading activity. Nonetheless, DASH experienced a modest correction soon after.

Dash (DASH) Price Performance. Source: BeInCrypto MarketsAt the time of writing, the altcoin was trading at $84.9, representing a nearly 15% increase over the past 24 hours. The rise has landed DASH among the top daily gainers on CoinGecko.

DASH Price Prediction: Why Analysts Think The Coin Can Reach $100 Notably, community sentiment toward DASH remains positive, with 82% of traders expressing a bullish outlook on the token. This optimism is also reflected in price forecasts, as many traders expect DASH to surpass the $100 level.

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Analysts had earlier pointed to $71.64 as a key resistance level for DASH. Since the token has already crossed this threshold, it could clear the way for a potential continuation toward the next psychological targets around $100 and beyond.

“A daily close above $71.64 can start a big breakout. First goal around $100, next goal near $130,” an analyst projected.

BREAKDOWN: $DASH – THE $71.64 CATALYST

Our chart shows the clear path: The final Manipulation move is designed to make you sell.

The real breakout signal is a clean daily close above $71.64. That's the that unlocks the Expansion phase to three digits.

Accumulation Target:… pic.twitter.com/WptIiwC9TP

— NekoZ (@NekozTek) November 1, 2025
Another analyst projects DASH to trade between $100 and $140 in the near term, noting that sustained interest in privacy-focused cryptocurrencies could push the token as high as $250.

“DASH has shown that privacy doesn’t end with ZCASH. The month started with a 100% move on the altcoin. They’re pumping it on expectations similar to what happened with ZEC,” ACXtrades added.

Meanwhile, DASH’s rally is part of a broader momentum in privacy-focused cryptocurrencies. Privacy coins have been the best-performing sector in the cryptocurrency market in 2025.

According to the latest data from Artemis, the sector has gained 186.8% this year, even outpacing Bitcoin and Ethereum.

Crypto Market Sector Performance. Source: ArtemisThis momentum has been led by major tokens, such as Zcash (ZEC), which recently crossed the $400 price level before falling back. While the outlook for privacy coins remains strong, it remains to be seen whether this rally will continue or fade away like other short-lived crypto narratives.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

The affected funds include 6,850 osETH, 6,590 WETH, and 4,260 wstETH, blockchain data analyzed by CoinDesk showed.Updated Nov 3, 2025, 8:17 a.m. Published Nov 3, 2025, 8:17 a.m.

Balancer, a decentralized finance (DeFi) protocol with over $750 million in value locked, appears to have been hit by another major exploit, with on-chain data showing roughly $70.9 million in digital assets drained to a new wallet.

The affected funds include 6,850 osETH, 6,590 WETH, and 4,260 wstETH, blockchain data analyzed by CoinDesk showed.
The exploiter’s address has already begun consolidating assets, raising concerns about potential laundering through decentralized mixers or cross-chain bridges.

STORY CONTINUES BELOW

Balancer’s BAL token has slumped over 5% since its Monday peak, CoinGecko data shows.

The team has not yet issued an official statement, though this marks the third known security breach for the project after incidents in 2021 and 2023 that collectively cost millions.

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The long-awaited XRP spot exchange-traded fund (ETF) may finally be nearing approval. According to Nate Geraci, President of NovaDius and a leading ETF analyst, the first spot XRP ETF could debut within the next two weeks, signaling a major milestone for Ripple and the broader crypto market.

Balancer suffered a reported exploit resulting in losses of over $110 million.Initial stolen assets include 6,587 WETH, 6,851 osETH, and 4,260 wstETH.The incident marks another major breach for Balancer, following a $238,000 theft in 2023, raising renewed security concerns.Decentralized exchange and liquidity protocol Balancer has reportedly fallen victim to a major security breach, with losses exceeding $110 million in digital assets. On-chain data indicates that the attack remains ongoing.

This exploit highlights ongoing vulnerabilities in DeFi infrastructure, despite increasing regulatory scrutiny and enhanced security efforts across the sector.

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Balancer Exploit Drains Over $110 Million as Attack ContinuesAccording to data shared by Lookonchain on X (formerly Twitter), the attackers transferred roughly 6,587 WETH, worth around $24.46 million, 6,851 osETH, valued at nearly $26.86 million, and 4,260 wstETH, worth approximately $19.27 million, from Balancer to a new wallet.

Hackers Transferring Assets From Balancer. Source: X/LookonchainThe attack hasn’t stopped yet. Lookonchain reports that losses from the Balancer exploit have already exceeded $110 million.

“Absolutely insane — the total stolen funds from the Balancer exploit have now surged to $116.6 million,” Lookonchain added.

This isn’t the first time the network has faced such an incident. In 2023, bad actors managed to steal around $238,000 worth of crypto assets from the protocol. The Balancer team has not yet issued an official statement regarding the incident.

This is a developing story.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

A stark line in the sand has emerged for Dogecoin. Market analyst Ali Martinez (X: @ali_charts) argues that the meme-coin’s near-term trajectory is binary around the $0.18 handle, pairing a channel-based price map with an on-chain URPD readout that concentrates risk directly below. His warning is unambiguous: “Dogecoin fate could hinge on $0.18. If it fails, $0.07 might be next.”

Dogecoin Needs To Bounce Now
Martinez published a one-day chart on November 1 depicting DOGE oscillating inside an ascending channel and presently testing its lower boundary. The chart print shows Binance’s perpetual pair near $0.187 at the time of capture, with a dotted path that either springs from this “buy-the-dip” zone toward the channel’s midline near $0.26 and ultimately the upper rail around $0.33, or, if the support snaps, ejects into a materially lower range.

He summarized the bullish path succinctly in a separate post attached to the same chart: “$0.18 looks like a strong buy-the-dip zone for Dogecoin before a potential run toward $0.26 or $0.33.” Pressed by a user on what had changed, Martinez replied: “Nothing has changed. On both posts everything depends on the $0.18 support level.”

Dogecoin price analysis | Source: X @ali_charts
On-Chain Data Confirms Critical Situation
The technical map is reinforced by on-chain positioning. Martinez shared a Glassnode UTXO Realized Price Distribution (URPD) for DOGE partitioned by the all-time-high epoch. URPD bins supply by the last on-chain transaction price, highlighting cost-basis clusters that often function as support and resistance when those cohorts are confronted with drawdowns or break-evens.

The histogram Martinez posted features a conspicuous bulge around $0.073, labeled at 28,278,554,566.513 DOGE (18.66%), and a secondary local node centered near $0.17741885, labeled at 5,040,878,150.654 DOGE (3.33%). Moreover, the chart exposes a heavy 36+ billion DOGE cluster across $0.18–$0.21 — a critical zone that price has already broken below, adding pressure to the downside.

Dogecoin URPD | Source: X @ali_charts
The implication is straightforward: there is a visible pocket of realized-price liquidity at roughly $0.18 that might catch price on first test; but should that shelf fail, the next dense cohort sits far lower, near seven cents, where nearly a fifth of supply last changed hands.

This pairing of a technical threshold with an on-chain vacuum is what underpins Martinez’s either-or framing. The channel study delineates $0.18 as structural support on the daily timeframe; the URPD shows why the downside air pocket could be deep if sellers force capitulation below that level.

Conversely, a defense of $0.18 would align with his mapped rebound toward the channel’s median near $0.26, with stretch potential to the upper boundary around $0.33 if momentum persists. In Martinez’s words, “everything depends on the $0.18 support level.”

At press time, DOGE traded at $0.173.

DOGE breaks below multi-year uptrend line, 1-week chart | Source: DOGEUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

DeFi protocol Balancer appears to have been exploited, with over $70 million in ether derivatives moved out of its vaults, per onchain data.

The launch marks one of the first large-scale, MiCA-compliant euro stablecoin rollouts backed by major financial institutions. With support from Deutsche Bank and asset manager DWS, EURAU aims to bridge traditional banking with the growing world of decentralized finance.

Nothing wakes up traders like red across every chart. Today, the crypto market saw its total capitalization plunge 3.2% to $3.6 trillion. This is with an eye-watering $400 million in crypto liquidations in 24 hours. Bitcoin led the charge downwards, dipping below $107,500 and forcing out over 162,000 long traders, while Ethereum posted almost as heavy losses. Savvy traders turned to stablecoins and Bitcoin for safety.

Wondering what caused the crypto market to go down? As always in crypto, there’s never just one reason. 

Top Reasons Behind the LiquidationsWhales and Technicals Fuel the CascadesLarge holders didn’t hesitate. One whale alone moved 13,000 BTC worth $1.48 billion onto exchanges. Then, futures open interest on Ethereum sank by 5.2%. It became a classic liquidation spiral, where falling prices triggered stop losses and even more selling. 

Successively, the market cap broke critical support at $3.74 trillion and the 30-day simple moving average. This is while the RSI at 40.88 still left room for more selling, barely above truly oversold.

Altcoins Face the Brunt of LiquidationAltcoins fared the worst, which is evident in the crypto liquidations heatmap by CoinGlass. The entire top 50 fell 4% in a day, Bitcoin’s dominance spiked to 60%, and popular tokens like Uniswap and DOGE plunged even further. Ethereum liquidations totaled $112.8 million, just outpacing Bitcoin’s $96.9 million. Solana, ASTER, and DOGE joined the rout, while fear took over social media timelines.

Fed’s Dovish Pause Meets Market FearJust days after the Federal Reserve’s October rate hike, Powell walked back hopes for another December cut. That spurred the dollar higher, hitting crypto hard. Markets value lower rates and easier money, so any hint of tighter policy scares off risk-takers fast. Treasury Secretary Scott Bessent also signaled limited room for more easing. The odds of another cut dropped to 69%, and the dominoes fell fast in crypto trading rooms.

ETF Outflows Compound WeaknessMeanwhile, U.S. Bitcoin spot ETFs saw $1.15 billion yanked out last week, especially from industry leaders like BlackRock, ARK Invest, and Fidelity. That kind of pullback signals big investors stepping aside, and warns retail traders about potential further downside. When BTC lost support under $110,000, it was clear the pros were bracing for the worst.

What Do Analysts Have to Say?“Over $231.7 million in long positions has vanished in 4 hours. Even with US stock futures opening strong, crypto is just free-falling.”

–Cas Abbé

FAQsWhat triggered the latest crypto liquidations?

It was the perfect storm: Fed policy signals, huge ETF withdrawals, and whale moves sparked cascading liquidations as buyers vanished and prices plummeted.

Which tokens were hit hardest?

Ethereum and Bitcoin topped the liquidation charts, but Uniswap and DOGE lost the most in percentage terms, showing traders avoided riskier altcoin bets.

Is more downside possible from here?

If Bitcoin breaks below $106,000, analysts say the market could face another $6 billion in forced liquidations. Until then, fear rules the sentiment.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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4 minutes ago

Balancer may have suffered a $70 million DeFi exploit, as millions in staked Ether were transferred to a new wallet, reigniting concerns over protocol security.

39

Decentralized exchange (DEX) and automated market maker (AMM) Balancer may have suffered a new exploit after about $70 million worth of digital assets were transferred to a freshly created wallet.

Onchain data shows that the decentralized finance (DeFi) protocol saw around $70.9 million worth of liquid staked Ether (ETH) tokens transferred to a fresh wallet across three transactions, according to Etherscan logs.

The transfers included 6,850 StakeWise Staked ETH (OSETH), 6,590 Wrapped Ether (WETH) and 4,260 Lido wstETH (wSTETH), crypto intelligence platform Nansen said in a Monday X post.

While Balancer has yet to confirm the breach, the millions flowing into the fresh cryptocurrency wallet signal that the transfers occurred due to a security breach.

Source: NansenBlockchain security firm Cyvers estimated that up to $84 million in suspicious transactions across multiple chains related to Balancer was involved, it wrote in a Monday X post.

Two months ago, Balancer suffered a domain name system (DNS) attack on its front end website, the protocol announced on Sept. 20. Hackers redirected the website’s users to a phishing website associated with malicious smart contracts aiming to steal user funds.

About $238,000 worth of digital assets were stolen during the phishing attack, according to blockchain sleuth ZachXBT.

Source: ZachXBTEarlier in August, Balancer also suffered a nearly $1 million stalecoin exploit, a week after the protocol disclosed a “critical vulnerability” related to some liquidity pools. 

Magazine: Coinbase hack shows the law probably won’t protect you — Here’s why

Balancer, a leading decentralized finance (DeFi) protocol with more than $750 million in total value locked (TVL), has reportedly suffered another major security breach. On-chain data reveals that approximately $70.9 million worth of digital assets were drained from the platform, with the attack primarily targeting Balancer’s Version 2 (V2) protocol.

According to blockchain data analyzed by CoinDesk, the stolen funds include roughly 6,850 osETH, 6,590 WETH, and 4,260 wstETH. The exploiter’s wallet has already begun consolidating assets, sparking fears of potential laundering through decentralized mixers or cross-chain bridges — a common tactic used in previous crypto exploits to obscure transaction trails.

Following the incident, Balancer’s native token, BAL, dropped by over 5% from its recent weekly peak, according to CoinGecko data. The Balancer team has yet to release an official statement addressing the breach, leaving users and investors on edge.

This marks the third significant exploit in Balancer’s history, following earlier security incidents in 2021 and 2023 that resulted in multimillion-dollar losses. The recurrence of such breaches raises serious questions about DeFi security and the challenges of maintaining protocol integrity in an increasingly sophisticated threat landscape.

DeFi platforms like Balancer are often targeted due to their complex smart contracts and large liquidity pools, making them prime opportunities for attackers. The recent exploit underscores the urgent need for stronger risk management, continuous auditing, and better security mechanisms across the DeFi ecosystem to protect investors and maintain trust in decentralized financial systems.

As investigations continue, the crypto community is watching closely to see how Balancer responds — and whether lessons from past incidents will finally lead to more resilient security measures.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

10h05 ▪
4
min read ▪ by
Eddy S.

Summarize this article with:

XRP has just recorded a sharp 100% increase in new users in a few days. Why such a sudden enthusiasm? Between activity records and price questions, discover what’s behind this boom and what it means for the future of this crypto.

In brief

XRP recorded a record 100% increase in new users, with 9,900 accounts created and over 1 billion transactions in 24 hours.
Possible causes of the XRP surge include institutional tests, a return of retail investors, and a strengthened network effect.
Despite intense activity on Ripple, XRP’s price remains stable around 2.52 dollars, raising the question of the sustainability of this growth.

Crypto: a spectacular increase of new XRP users
On October 30, 2025, the XRP network recorded nearly 9,900 new accounts in a single day, a monthly record. Despite the unlocking of 1 billion XRP on October 31, the activity peak continued on November 1, when the number of payments between accounts exceeded one million! With a total crypto transaction volume reaching 1.2 billion XRP. These figures mark a sudden and massive adoption, far beyond usual trends.

Moreover, XRP displays a 24-hour transaction volume of 2.29 billion dollars on November 2, up 5.04%, with a fully diluted market capitalization (FDV) of 248.7 billion dollars. With 99.98 billion XRP in circulation out of a maximum of 100 billion, and 60.1 billion currently circulating, these figures highlight growing liquidity and adoption.

XRP figures
This 100% increase in XRP new users and transaction volume suggests that new crypto investors are not just registering but actively using the network. A dynamic that contrasts with previous periods, where activity was more moderate. These data raise a question: is this growth sustainable or just a temporary peak?

What are the possible causes of the activity peak on the XRP network?
Several hypotheses could explain this activity explosion. Some analysts mention institutional tests conducted by banks and financial actors in anticipation of regulatory clarification. Ripple, with its cross-border payment solutions, could attract new institutional partners, thus boosting XRP adoption.

Another avenue is the return of retail investors, after months of XRP’s relative underperformance compared to other cryptos. Finally, the network effect plays a key role: the more users increase, the more attractive the network becomes, creating a virtuous circle. Recent announcements from Ripple, such as new partnerships or technological improvements, could also explain this dynamic.

What impact on XRP price and what challenges for the future?
Despite this massive adoption, XRP’s price remains moderate around 2.52 dollars. The 100 and 200-day moving averages, located between 2.70 and 2.80 dollars, show an encouraging technical structure, but the price struggles to break these resistance levels. A breakout above could propel XRP to 3.00 dollars. However, failure would expose the crypto to a decline towards 2.35 dollars.

The main challenge for Ripple (XRP) will be to turn this activity peak into sustainable growth. User retention and liquidity inflow will be decisive. Favorable regulatory clarity could also play a key role by reassuring institutions and investors. Without this, this rise may be just a flash in the pan.

The explosion of activity on the XRP network opens intriguing prospects, but its future will depend on its ability to maintain this momentum. The coming months will be crucial to know if Ripple (XRP) can capitalize on this massive adoption. And you, do you think this growth is sustainable or just a passing crypto phenomenon?

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Eddy S.

The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

The city of Amravati, in the state of Maharashtra, is launching a blockchain initiative with Polygon to move government records onchain. The project will start by tokenizing land titles, property documents, tax data, and citizen certificates.

David Cote's firm CompoSecure is buying the molding-equipment specialist from Platinum Equity.

, /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Savara Inc. ("Savara" or "the Company") (NASDAQ: SVRA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between March 7, 2024, and May 23, 2025, inclusive (the "Class Period"), are encouraged to contact the firm before November 10, 2025.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Savara's BLA for MOLBREEVI failed to provide the FDA with adequate information on chemistry, controls, and manufacturing. The Company's BLA was unlikely to be approved by the agency in its current form. The delays caused by the Company's insufficient BLA were likely to require it to raise additional capital. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Savara, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

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, /PRNewswire/ -- The DJS Law Group  reminds investors of a class action lawsuit against Fly-E Group, Inc. ("Fly-E " or "the Company") (NASDAQ: FLYE ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Shareholders who purchased shares of FLYE during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.

CLASS PERIOD:  July 15, 2025 to August 14, 2025

DEADLINE: November 7, 2025

CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. The revenue goals shared by Fly-E had no basis in reality when compared to its actual performance. The Company was overly optimistic in its ability to reduce costs and achieve attractive pricing from suppliers. Based on these facts, Fly-E's public statements were false and materially misleading throughout the class period.

If you are a shareholder who suffered a loss, contact us to participate .

NEXT STEPS FOR SHAREHOLDERS : Once you register as a shareholder who purchased shares during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. There is no cost or obligation to you to participate in this case.

WHY DJS LAW GROUP?  DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.

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