Endura Technologies Appoints New CEO, and Strategic Board Members to Accelerate Growth of System-on-Chip Power Delivery Pioneer

Endura Technologies a pioneer in advanced power delivery solutions for System on Chip (SoC) applications, announces a significant transformation in its leadership team, positioning the company for accelerated growth and innovation in the dynamically evolving SoC power delivery landscape. Michael Sanie a seasoned leader in go-to-market and business strategy, and a veteran of the semiconductor industry, joins as Chief Executive Officer. Faraj Aalaei former CEO and Chairman of Aquantia Corporation and Centillium Communications, two semiconductor companies he built through successful Initial Public Offerings (IPO), steps in as the new Chairman of the Board of Directors. Additionally, Benny Malek a visionary in technology leadership, is named as a new member of the Board.

Sanie most recently served as Senior Vice President and chief marketing executive at Synopsys (NASDAQ: SNPS). Sanie brings a rich background in executive leadership, market strategy, business development, and product management, demonstrating a consistent trajectory of transforming market challenges into strategic opportunities. His appointment as CEO is expected to elevate Endura Technologies' go-to-market and growth.

Aalaei, the founding General Partner at Candou Ventures, is a seasoned serial entrepreneur and has led multiple companies through successful IPOs and major acquisitions. His insights and experience in nurturing technology ventures will be invaluable in steering Endura Technologies' strategic direction.

Malek is the former CEO of Wavious, as well as a seasoned executive in semiconductor technology with prior executive roles including significant tenures, as Vice President of Engineering at Qualcomm (NASDAQ: QCOM) and Chief Scientist at RapidBridge. Malek offers a strategic vision that will greatly drive the company's technology leadership and market adoption objectives.

"We are thrilled to welcome Michael, Faraj, and Benny to Endura Technologies. Their collective experience and leadership are invaluable assets as we navigate the dynamic and exciting landscape of SoC power delivery," said Dr. Massih Tayebi , Founding Partner and Chairman at Bridgewest Group, Endura Technologies' founding investment team. "With their guidance, we are poised to redefine and lead the next generation in performance, scalability, and efficiency in power delivery for SoC applications across diverse markets."

"The semiconductor industry is undergoing a critical transformation, particularly in SoC power delivery. The conventional methods struggle to meet modern application requirements," said Sanie. "It's a pivotal and exciting time to join Endura Technologies. Our talented team, armed with extensive experience, a track record of numerous innovations, and unique technology, is well-positioned to revolutionize SoC power management paradigms, addressing current and future market demands."

Endura Technologies maintains its strong leadership foundation as Dr. Hassan Ihs, co-founder and Chief Technology Officer; Keith DeHaven , Vice President of Engineering; and John Rowland , Vice President of Manufacturing, remain fully committed to their roles, ensuring continued excellence and innovation in their respective functions. In addition, in line with its growth in operations and market momentum, the company has relocated its San Diego office to a more expansive state-of-the-art facility.

SoC Power Delivery Redefined

The insatiable demand for more computing and storage performance has given rise to massively scaled semiconductor server solutions. One of the fundamental challenges for building server networks at scale is to power these devices efficiently. As such, the SoC power delivery landscape is undergoing a radical transformation across virtually all market segments. In the server segment, for example, this shift is predominantly driven by the escalating power needs of AI accelerators, prompting a complete overhaul in power delivery methods. These methods are being re-engineered from the rack level down to the SoC level, optimizing performance, scalability, and efficiency over a broad spectrum of switching frequencies, current loads, voltage ranges, and silicon manufacturing processes.

Similarly, in the automotive segment, the prominent rise of ADAS (Advanced Driver Assistance Systems) and autonomous driving technologies coupled with energy demands of electric vehicles are reshaping automotive SoC power delivery, shifting focus on cost, efficiency, and scalability of power delivery across frequency, noise, and voltage options. As such, conventional general-purpose PMICs (Power Management Integrated Circuits) are being disrupted, paving the way for advanced SoCs to pair with application-specific power delivery ICs, chiplets, and in-package structures.

Endura Technologies is leading this transformation by providing end-to-end SoC power delivery solutions, integrating their revolutionary, patented architectures, test silicon, design IP, design services, passive technology (inductors, capacitors, etc.) partnerships, and silicon manufacturing relationships.

For more details on Endura Technologies, visit www.enduratechnologies.com .

Contact:
Press Relations
pressrelations@enduratechnologies.com

About Endura Technologies
Endura Technologies' innovative end-to-end power delivery solution, with its patented architecture, enables intelligent power paradigms with the performance, scalability, flexibility, and efficiency required by today's advanced SoCs and systems. Endura Technologies provides customers full turnkey power management solutions tailored to the unique demands of high-performance servers and automotive electronic systems.

About Bridgewest Group
Bridgewest Group is an innovative and privately held global investment firm with over $3B in private capital. Founded in 1999, the global firm has earned a long-standing reputation for creating and scaling transformational businesses to achieve outsized success. Bridgewest Group leverages its expertise and global eco-community in key sectors where it can have the greatest impact including Life Sciences, Software, Semiconductor and Artificial Intelligence/Deep Tech. Customized financial investment services and diverse real estate holdings augment equity assets and support portfolio companies as they grow. Bridgewest Group is based in the US, with investments primarily in the US, Europe , China , and Australasia.

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SOURCE Endura Technologies

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YDreams Global Opens Exhibition Featuring Gaming YouTubers With LG Electronics Inc as a Significant Sponsor

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The playground is themed after the iconic emoji’s universe and visitors will pay an affordable fee to gain access.
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About YDreams Global
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More Information:
Daniel Japiassu
Director and Chief Executive Officer
hey@ydreamsglobal.com | www.ydreamsglobal.com | www.youtube.com/ydreamsglobal
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Click here to connect with YDreams Global Interactive Technologies Inc. (TSXV:YD) for an Investor Presentation.

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Counsel for Plaintiffs:	Counsel for Defendants:

Craig W. Smith ROBBINS LLP 5060 Shoreham Place, Suite 300 San Diego, CA 92122 Telephone: (619) 525-3990 csmith@robbinsllp.com	James N. Kramer Orrick, Herrington & Sutcliffe LLP 405 Howard Street San Francisco, CA 94105 Telephone: (415) 773-5900 jkramer@orrick.com

David C. Katz Weiss Law 305 Broadway, 7th Floor New York, NY 10007 Telephone: (212) 682-3025 dkatz@weisslawllp.com

Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts)

	Three Months Ended				Six Months Ended
	March 30, 2024		April 1, 2023		March 30, 2024		April 1, 2023
Net sales:
Products	$	66,886	$	73,929	$	163,344	$	170,317
Services		23,867		20,907		46,984		41,673
Total net sales ⁽¹⁾		90,753		94,836		210,328		211,990
Cost of sales:
Products		42,424		46,795		100,864		107,560
Services		6,058		6,065		12,338		12,122
Total cost of sales		48,482		52,860		113,202		119,682
Gross margin		42,271		41,976		97,126		92,308

Operating expenses:
Research and development		7,903		7,457		15,599		15,166
Selling, general and administrative		6,468		6,201		13,254		12,808
Total operating expenses		14,371		13,658		28,853		27,974

Operating income		27,900		28,318		68,273		64,334
Other income/(expense), net		158		64		108		(329	)
Income before provision for income taxes		28,058		28,382		68,381		64,005
Provision for income taxes		4,422		4,222		10,829		9,847
Net income	$	23,636	$	24,160	$	57,552	$	54,158

Earnings per share:
Basic	$	1.53	$	1.53	$	3.72	$	3.42
Diluted	$	1.53	$	1.52	$	3.71	$	3.41
Shares used in computing earnings per share:
Basic		15,405,856		15,787,154		15,457,810		15,839,939
Diluted		15,464,709		15,847,050		15,520,675		15,901,384

⁽¹⁾ Net sales by reportable segment:
Americas	$	37,273	$	37,784	$	87,703	$	87,062
Europe		24,123		23,945		54,520		51,626
Greater China		16,372		17,812		37,191		41,717
Japan		6,262		7,176		14,029		13,931
Rest of Asia Pacific		6,723		8,119		16,885		17,654
Total net sales	$	90,753	$	94,836	$	210,328	$	211,990

⁽¹⁾ Net sales by category:
iPhone	$	45,963	$	51,334	$	115,665	$	117,109
Mac		7,451		7,168		15,231		14,903
iPad		5,559		6,670		12,582		16,066
Wearables, Home and Accessories		7,913		8,757		19,866		22,239
Services		23,867		20,907		46,984		41,673
Total net sales	$	90,753	$	94,836	$	210,328	$	211,990

Apple Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par value)

	March 30, 2024			September 30, 2023
ASSETS:
Current assets:
Cash and cash equivalents	$	32,695		$	29,965
Marketable securities		34,455			31,590
Accounts receivable, net		21,837			29,508
Vendor non-trade receivables		19,313			31,477
Inventories		6,232			6,331
Other current assets		13,884			14,695
Total current assets		128,416			143,566

Non-current assets:
Marketable securities		95,187			100,544
Property, plant and equipment, net		43,546			43,715
Other non-current assets		70,262			64,758
Total non-current assets		208,995			209,017
Total assets	$	337,411		$	352,583

LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
Accounts payable	$	45,753		$	62,611
Other current liabilities		57,298			58,829
Deferred revenue		8,012			8,061
Commercial paper		1,997			5,985
Term debt		10,762			9,822
Total current liabilities		123,822			145,308

Non-current liabilities:
Term debt		91,831			95,281
Other non-current liabilities		47,564			49,848
Total non-current liabilities		139,395			145,129
Total liabilities		263,217			290,437

Commitments and contingencies

Shareholders' equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively		78,815			73,812
Retained earnings/(Accumulated deficit)		4,339			(214	)
Accumulated other comprehensive loss		(8,960	)		(11,452	)
Total shareholders' equity		74,194			62,146
Total liabilities and shareholders' equity	$	337,411		$	352,583

Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Six Months Ended
	March 30, 2024			April 1, 2023
Cash, cash equivalents and restricted cash, beginning balances	$	30,737		$	24,977

Operating activities:
Net income		57,552			54,158
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization		5,684			5,814
Share-based compensation expense		5,961			5,591
Other		(1,971	)		(1,732	)
Changes in operating assets and liabilities:
Accounts receivable, net		7,727			9,596
Vendor non-trade receivables		12,164			14,785
Inventories		53			(2,548	)
Other current and non-current assets		(4,438	)		(4,092	)
Accounts payable		(16,710	)		(20,764	)
Other current and non-current liabilities		(3,437	)		1,757
Cash generated by operating activities		62,585			62,565

Investing activities:
Purchases of marketable securities		(25,042	)		(11,197	)
Proceeds from maturities of marketable securities		27,462			17,124
Proceeds from sales of marketable securities		4,314			1,897
Payments for acquisition of property, plant and equipment		(4,388	)		(6,703	)
Other		(729	)		(247	)
Cash generated by investing activities		1,617			874

Financing activities:
Payments for taxes related to net share settlement of equity awards		(2,875	)		(2,734	)
Payments for dividends and dividend equivalents		(7,535	)		(7,418	)
Repurchases of common stock		(43,344	)		(39,069	)
Repayments of term debt		(3,150	)		(3,651	)
Repayments of commercial paper, net		(3,982	)		(7,960	)
Other		(132	)		(455	)
Cash used in financing activities		(61,018	)		(61,287	)

Increase in cash, cash equivalents and restricted cash		3,184			2,152
Cash, cash equivalents and restricted cash, ending balances	$	33,921		$	27,129

Supplemental cash flow disclosure:
Cash paid for income taxes, net	$	14,531		$	4,894


Dated: May 3, 2024	By Order of the Court United States District Court Northern District of California, Oakland Division

Endura Technologies Appoints New CEO, and Strategic Board Members to Accelerate Growth of System-on-Chip Power Delivery Pioneer

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