diff --git a/CHANGELOG.md b/CHANGELOG.md
index b761399ff..11686acf9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,30 @@
 # Changelog
 
+## [1.125.0](https://github.com/googleapis/java-pubsub/compare/v1.124.2...v1.125.0) (2023-09-12)
+
+
+### Features
+
+* Receipt modack ([#1540](https://github.com/googleapis/java-pubsub/issues/1540)) ([74d8da9](https://github.com/googleapis/java-pubsub/commit/74d8da97c42b672e3f9f26b9a535d6bac948a402))
+
+
+### Bug Fixes
+
+* Make retry policy back off more aggressively for RPCs that retry RESOURCE_EXHAUSTD ([#1704](https://github.com/googleapis/java-pubsub/issues/1704)) ([f61e7e0](https://github.com/googleapis/java-pubsub/commit/f61e7e0e2895a90e30ecf4dcbfa8c70022947d9e))
+
+
+### Dependencies
+
+* Update actions/checkout action to v4 ([#1712](https://github.com/googleapis/java-pubsub/issues/1712)) ([404c492](https://github.com/googleapis/java-pubsub/commit/404c492823306c1448c62383b9ea88cf9e43b970))
+* Update dependency com.google.cloud:google-cloud-core to v2.23.0 ([#1717](https://github.com/googleapis/java-pubsub/issues/1717)) ([929f778](https://github.com/googleapis/java-pubsub/commit/929f778e341aefe61206e55de828bf5a86e4efd3))
+* Update dependency com.google.cloud:google-cloud-shared-dependencies to v3.15.0 ([#1718](https://github.com/googleapis/java-pubsub/issues/1718)) ([0eeaa19](https://github.com/googleapis/java-pubsub/commit/0eeaa19a640513e80d595ca7c4016e26fc30871b))
+* Update dependency com.google.protobuf:protobuf-java-util to v3.24.3 ([#1698](https://github.com/googleapis/java-pubsub/issues/1698)) ([1157fbf](https://github.com/googleapis/java-pubsub/commit/1157fbff92204eae55bb24ad803f0b8e1336ac10))
+* Update dependency org.easymock:easymock to v5.2.0 ([#1711](https://github.com/googleapis/java-pubsub/issues/1711)) ([313f6dd](https://github.com/googleapis/java-pubsub/commit/313f6dd8b82fbc57df066615e285325969b6d2e4))
+* Update dependency org.graalvm.buildtools:junit-platform-native to v0.9.25 ([#1709](https://github.com/googleapis/java-pubsub/issues/1709)) ([1cc8a53](https://github.com/googleapis/java-pubsub/commit/1cc8a53a416acdd5f9cd4fc598f2f5f182a2ad44))
+* Update dependency org.graalvm.buildtools:junit-platform-native to v0.9.26 ([#1715](https://github.com/googleapis/java-pubsub/issues/1715)) ([f2cc75f](https://github.com/googleapis/java-pubsub/commit/f2cc75f960521e8be50cf354e00024d66fb8f7fb))
+* Update dependency org.graalvm.buildtools:native-maven-plugin to v0.9.25 ([#1710](https://github.com/googleapis/java-pubsub/issues/1710)) ([9764c3f](https://github.com/googleapis/java-pubsub/commit/9764c3f740cd726ad09cef82039561bd145fbe0c))
+* Update dependency org.graalvm.buildtools:native-maven-plugin to v0.9.26 ([#1716](https://github.com/googleapis/java-pubsub/issues/1716)) ([6c9e949](https://github.com/googleapis/java-pubsub/commit/6c9e9493ec7aeaa0711ad2155fa6a549937284df))
+
 ## [1.124.2](https://github.com/googleapis/java-pubsub/compare/v1.124.1...v1.124.2) (2023-08-15)
 
 
diff --git a/google-cloud-pubsub-bom/pom.xml b/google-cloud-pubsub-bom/pom.xml
index ec9b46072..37f5bae47 100644
--- a/google-cloud-pubsub-bom/pom.xml
+++ b/google-cloud-pubsub-bom/pom.xml
@@ -3,7 +3,7 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-pubsub-bom</artifactId>
-  <version>1.124.3-SNAPSHOT</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+  <version>1.125.0</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   <packaging>pom</packaging>
   <parent>
     <groupId>com.google.cloud</groupId>
@@ -52,17 +52,17 @@
       <dependency>
         <groupId>com.google.cloud</groupId>
         <artifactId>google-cloud-pubsub</artifactId>
-        <version>1.124.3-SNAPSHOT</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+        <version>1.125.0</version><!-- {x-version-update:google-cloud-pubsub:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>grpc-google-cloud-pubsub-v1</artifactId>
-        <version>1.106.3-SNAPSHOT</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
+        <version>1.107.0</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>proto-google-cloud-pubsub-v1</artifactId>
-        <version>1.106.3-SNAPSHOT</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
+        <version>1.107.0</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
       </dependency>
     </dependencies>
   </dependencyManagement>
diff --git a/google-cloud-pubsub/pom.xml b/google-cloud-pubsub/pom.xml
index 8d0da9db5..e308f0dfa 100644
--- a/google-cloud-pubsub/pom.xml
+++ b/google-cloud-pubsub/pom.xml
@@ -3,7 +3,7 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-pubsub</artifactId>
-  <version>1.124.3-SNAPSHOT</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+  <version>1.125.0</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   <packaging>jar</packaging>
   <name>Google Cloud Pub/Sub</name>
   <url>https://github.com/googleapis/java-pubsub</url>
@@ -11,7 +11,7 @@
   <parent>
     <groupId>com.google.cloud</groupId>
     <artifactId>google-cloud-pubsub-parent</artifactId>
-    <version>1.124.3-SNAPSHOT</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+    <version>1.125.0</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   </parent>
   <properties>
     <site.installationModule>google-cloud-pubsub</site.installationModule>
diff --git a/grpc-google-cloud-pubsub-v1/pom.xml b/grpc-google-cloud-pubsub-v1/pom.xml
index 22d8cdc6f..ce51936f3 100644
--- a/grpc-google-cloud-pubsub-v1/pom.xml
+++ b/grpc-google-cloud-pubsub-v1/pom.xml
@@ -4,13 +4,13 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.api.grpc</groupId>
   <artifactId>grpc-google-cloud-pubsub-v1</artifactId>
-  <version>1.106.3-SNAPSHOT</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
+  <version>1.107.0</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
   <name>grpc-google-cloud-pubsub-v1</name>
   <description>GRPC library for grpc-google-cloud-pubsub-v1</description>
   <parent>
     <groupId>com.google.cloud</groupId>
     <artifactId>google-cloud-pubsub-parent</artifactId>
-    <version>1.124.3-SNAPSHOT</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+    <version>1.125.0</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   </parent>
   <dependencies>
     <dependency>
diff --git a/pom.xml b/pom.xml
index 85a97916e..5c4497186 100644
--- a/pom.xml
+++ b/pom.xml
@@ -4,7 +4,7 @@
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-pubsub-parent</artifactId>
   <packaging>pom</packaging>
-  <version>1.124.3-SNAPSHOT</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+  <version>1.125.0</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   <name>Google Cloud Pub/Sub Parent</name>
   <url>https://github.com/googleapis/java-pubsub</url>
   <description>
@@ -69,17 +69,17 @@
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>proto-google-cloud-pubsub-v1</artifactId>
-        <version>1.106.3-SNAPSHOT</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
+        <version>1.107.0</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>grpc-google-cloud-pubsub-v1</artifactId>
-        <version>1.106.3-SNAPSHOT</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
+        <version>1.107.0</version><!-- {x-version-update:grpc-google-cloud-pubsub-v1:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.cloud</groupId>
         <artifactId>google-cloud-pubsub</artifactId>
-        <version>1.124.3-SNAPSHOT</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+        <version>1.125.0</version><!-- {x-version-update:google-cloud-pubsub:current} -->
       </dependency>
 
       <!-- Test dependencies -->
diff --git a/proto-google-cloud-pubsub-v1/pom.xml b/proto-google-cloud-pubsub-v1/pom.xml
index bea53cafb..150aa919a 100644
--- a/proto-google-cloud-pubsub-v1/pom.xml
+++ b/proto-google-cloud-pubsub-v1/pom.xml
@@ -4,13 +4,13 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.api.grpc</groupId>
   <artifactId>proto-google-cloud-pubsub-v1</artifactId>
-  <version>1.106.3-SNAPSHOT</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
+  <version>1.107.0</version><!-- {x-version-update:proto-google-cloud-pubsub-v1:current} -->
   <name>proto-google-cloud-pubsub-v1</name>
   <description>PROTO library for proto-google-cloud-pubsub-v1</description>
   <parent>
     <groupId>com.google.cloud</groupId>
     <artifactId>google-cloud-pubsub-parent</artifactId>
-    <version>1.124.3-SNAPSHOT</version><!-- {x-version-update:google-cloud-pubsub:current} -->
+    <version>1.125.0</version><!-- {x-version-update:google-cloud-pubsub:current} -->
   </parent>
   <dependencies>
     <dependency>
diff --git a/samples/snapshot/pom.xml b/samples/snapshot/pom.xml
index b6e26590e..b48c6e257 100644
--- a/samples/snapshot/pom.xml
+++ b/samples/snapshot/pom.xml
@@ -43,7 +43,7 @@
     <dependency>
       <groupId>com.google.cloud</groupId>
       <artifactId>google-cloud-pubsub</artifactId>
-      <version>1.124.3-SNAPSHOT</version>
+      <version>1.125.0</version>
     </dependency>
     <!-- {x-version-update-end} -->
 
diff --git a/versions.txt b/versions.txt
index 152bce34e..669c03e38 100644
--- a/versions.txt
+++ b/versions.txt
@@ -1,6 +1,6 @@
 # Format:
 # module:released-version:current-version
 
-google-cloud-pubsub:1.124.2:1.124.3-SNAPSHOT
-grpc-google-cloud-pubsub-v1:1.106.2:1.106.3-SNAPSHOT
-proto-google-cloud-pubsub-v1:1.106.2:1.106.3-SNAPSHOT
+google-cloud-pubsub:1.125.0:1.125.0
+grpc-google-cloud-pubsub-v1:1.107.0:1.107.0
+proto-google-cloud-pubsub-v1:1.107.0:1.107.0