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Cellebrite DI Ltd. (NASDAQ:CLBT), a global leader in digital intelligence solutions, announced today that its Annual General Meeting of Shareholders is scheduled for September 17, 2024. The meeting will take place at the company's headquarters in Petah Tikva, Israel, at 4:00 p.m. local time.
The announcement, made through a 6-K filing with the Securities and Exchange Commission (SEC), included the provision of a Notice and Proxy Statement detailing the agenda for the meeting. Shareholders will be able to vote on various proposals outlined in the document. Additionally, a Proxy Card was furnished, allowing shareholders the option to vote without being present.
Cellebrite, known for its services in the prepackaged software industry, is inviting its shareholders to participate in the decision-making process on matters that will be disclosed in the Notice and Proxy Statement. The specifics of these proposals have yet to be made public but will be available for review by shareholders to inform their vote.
The formal communication to the SEC indicates that Cellebrite is proceeding with its annual schedule of shareholder meetings, as dictated by corporate bylaws and securities regulations. Shareholders are encouraged to review the forthcoming materials to prepare for the Annual General Meeting, where they will have the opportunity to influence the company's future direction.
In other recent news, Open Lending Corporation met its Q2 2024 targets, overcoming challenges along the way. The company reported total revenues of $26.7 million and an adjusted EBITDA of $9.9 million, even after making a $6.7 million profit share adjustment due to higher delinquencies and defaults from 2021 and 2022 loan vintages. Open Lending also certified nearly 29,000 loans, marking a 3% sequential growth from the first quarter.
Despite these challenges, the company remains positive about future delinquency rates and the recovery of the automotive industry. Open Lending's recent developments include signing 13 new credit union customers in Q2 and adding Securian Financial Group as an insurance partner. The company's projections for Q3 2024 include total certified loans between 25,000 to 28,000, total revenue between $28 million to $31 million, and adjusted EBITDA between $11 million to $14 million.
However, Open Lending faces potential obstacles such as high interest rates, an improving inflationary environment, constrained credit union lending demand, and recent credit tightening actions. Despite a slight decline in certification volume, Open Lending maintains a consistent growth in certified loans and has a positive outlook on delinquency rates.
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