Market Newsdesk

SANTA CLARA, Calif., July 26, 2026 (GLOBE NEWSWIRE) — Silvaco Group, Inc. (Nasdaq: SVCO) (“Silvaco”), a leading provider of TCAD, EDA software, and semiconductor IP solutions, and NVIDIA, a global leader in accelerated computing and AI, today announced a collaboration to advance next-generation digital twins for semiconductor design and manufacturing using NVIDIA accelerated computing and AI.

Silvaco is combining decades of physics-based modeling expertise with NVIDIA’s accelerated computing, CUDA-X™ libraries, PhysicsNeMo, Omniverse libraries, and Nemotron open models to help customers build, train, and deploy high-fidelity digital twins capable of predicting, optimizing, and validating complex semiconductor systems with unprecedented speed and accuracy.

Together, Silvaco’s physics-based simulation portfolio and NVIDIA accelerated computing and AI will help customers design, simulate and optimize increasingly complex semiconductor technologies.

Partnership Focus Areas

GPU-Accelerated Physics Simulation

Silvaco intends to use NVIDIA accelerated computing and CUDA-X™ libraries to accelerate its semiconductor device, process, photonics, and multiphysics simulation solutions, enabling dramatic reductions in simulation runtimes and increased design productivity. As an early proof point, Silvaco completed a fully scaled 3D FDTD simulation of a photonic edge coupler with 3.2 billion mesh nodes on 32 NVIDIA GPUs connected with NVLink in under four hours. The workload did not converge on CPUs, and the result achieved less than 0.15 dB difference between measurement and simulation.

AI-Driven Surrogate Modeling

Silvaco intends to leverage NVIDIA PhysicsNeMo to develop customizable AI surrogate models that complement high-fidelity physics simulation and accelerate exploration of design alternatives.

Digital Twin Visualization and Collaboration

Silvaco plans to connect its digital twin environment with NVIDIA Omniverse libraries™ and NVIDIA Cosmos™ to deliver collaborative, real-time visualization and simulation environments spanning semiconductor fabs, manufacturing systems, robotics platforms and infrastructure applications to provide interactive visualization and collaboration across semiconductor design and manufacturing workflows.

Scaled Engineering Workflows

Silvaco aims to establish cloud-native workflows that support design, testing, and validation across distributed teams and compute environments.

Delivering Measurable Customer Value

By combining the technologies, Silvaco expects to help customers:

• Reduce Simulation Cycles from Weeks to Days
  
  GPU-accelerated simulation and AI-driven modeling will enable faster design iterations and reduced time-to-market.
• Improve Accuracy and Insight
  
  High-fidelity digital twins will provide deeper visibility into system performance, enabling more precise validation and optimization.
• Scale Engineering and Collaboration
  
  Cloud-based visualization and AI-driven workflows will enable global teams to collaborate more efficiently and execute complex simulations at scale.

“The convergence of physics-based simulation, accelerated computing, and artificial intelligence is transforming design and manufacturing,” said Walden C. Rhines, President and Chief Executive Officer of Silvaco. “By combining Silvaco’s deep expertise in semiconductor and multiphysics digital twins with NVIDIA’s industry-leading computing and AI platforms, we can help customers model increasingly complex systems with greater speed, fidelity, and confidence. Together, we are positioning the industry for a future where AI-powered digital twins can fundamentally transform how semiconductor technologies are designed, validated, and optimized.”

“Digital twins are becoming essential tools for engineering and manufacturing innovation,” said Da Yang, senior director of product, semiconductor and EDA at NVIDIA. “By using NVIDIA AI, open models, libraries and accelerated computing, Silvaco is connecting high-fidelity simulation, helping customers move faster from modeling to insight across semiconductor design and manufacturing.”

The combination of Silvaco and NVIDIA solutions is expected to enable advanced digital twin applications including:

• Semiconductor process, device, packaging, and photonics simulation
• AI-assisted development of next-generation chips and advanced nodes
• Factory optimization and predictive manufacturing

This collaboration brings together Silvaco’s semiconductor modeling expertise with NVIDIA accelerated computing and AI to advance high-fidelity simulation, AI surrogate models, and digital twins across semiconductor design and manufacturing.

About Silvaco

Silvaco is a provider of AI-enabled TCAD and EDA solutions, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation. Silvaco’s solutions are used for semiconductor and photonics processes, devices, and systems development across display, power devices, automotive, memory, high-performance compute, foundries, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Brazil, China, Egypt, Japan, Korea, Singapore, Taiwan, and Vietnam. Learn more at silvaco.com.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended, that are intended to be covered by the “safe harbor” provisions of those sections. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business and can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are typically identified by the use of words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “estimate,” “potential,” “continue” and similar expressions, although not all forward-looking statements contain these words. These statements are based on the Company’s current expectations and assumptions and are subject to risks, uncertainties and other factors, including those described in the Company’s most recent Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission. These factors may cause actual results to differ materially from those expressed or implied by forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Media Contacts

Investor Relations:
[email protected] 

Media Relations:
[email protected] 

News Summary:

• NVIDIA expands NVIDIA Agent Toolkit with re-architected NVIDIA PhysicsNeMo libraries and updated NVIDIA CUDA-X libraries, enabling software developers to build autonomous AI engineers with AI physics skills, accelerated solvers and quantum chemistry capabilities.
• NVIDIA Nemotron 3 Ultra leads among open models in agentic register-transfer level coding with the ACE-RTL agent from NVIDIA Research, helping enterprises build customizable AI agents for chip design and verification.
• Cadence, Siemens, Synopsys and other industry leaders are using NVIDIA accelerated computing and agentic AI technologies to advance autonomous engineering workflows across chip design, verification, packaging and systems.

LONG BEACH, Calif., July 26, 2026 (GLOBE NEWSWIRE) — NVIDIA today announced an expansion of NVIDIA Agent Toolkit for engineering, now adding NVIDIA PhysicsNeMo™ and CUDA-X™ libraries as agent-ready tools and skills built to transform how the world designs and develops products.

Building the next generation of chips and systems requires teams to connect physics, simulation and performance analysis across increasingly complex design cycles. A new class of autonomous AI engineers is emerging to help take on that complexity — using specialized tools, running simulations and generating high-fidelity data to help scale chip design, verification, packaging and systems. 

Now included in NVIDIA Agent Toolkit, NVIDIA has re-architected PhysicsNeMo into a set of agent-friendly libraries and added new and updated CUDA-X libraries to support complex engineering work. PhysicsNeMo provides AI physics skills for training and deploying models, while CUDA-X libraries bring accelerated solvers and quantum chemistry capabilities into agentic engineering workflows.

“Engineering has reached an inflection point. AI can now work with tools of physics, simulation and design,” said Timothy Costa, vice president and general manager of computational engineering at NVIDIA. “With NVIDIA Agent Toolkit, developers can build agentic engineers that reason using physics, run complex simulations and generate high-fidelity data to become a new engine for innovation in chip and system design.”

NVIDIA Agent Toolkit Adds AI Physics and Accelerated Computing Skills for Engineering Agents

NVIDIA Agent Toolkit helps developers build specialized engineering AI assistants connected to domain-specific tools, models and data. With the addition of NVIDIA PhysicsNeMo and CUDA-X libraries, these agents can now use AI physics skills, accelerated solvers and quantum chemistry capabilities for chip, system and industrial engineering. 

Key capabilities include:

• AI physics skills: NVIDIA PhysicsNeMo libraries help agents train and deploy customizable AI physics models for complex design and simulation tasks, turning model architectures into callable tools for engineering workflows.
• Iterative sparse solvers: New NVIDIA cuISS (CUDA Iterative Sparse Solvers) library accelerates large sparse linear systems in physics-based and engineering simulations. Designed for flexibility and performance on GPUs, its modern, composable solvers and preconditioners help developers build scalable, production simulation engines for agentic engineering workflows. 
• Direct sparse solvers: NVIDIA cuDSS (CUDA Direct Sparse Solvers) accelerates large, complex sparse linear systems central to electronic design automation (EDA) and scientific simulation. It delivers high performance and numerical robustness for critical workloads like device, circuit and system simulations with scalability to multi-GPU and multi-node deployments in production environments.
• Quantum chemistry: NVIDIA cuEST (CUDA Electronic Structure Theory) brings high-accuracy quantum chemistry simulations to device-relevant scales, enabling density functional theory (DFT) and post-DFT methods to be integrated into production workflows at scale. cuEST brings production value to customers by supporting a wide range of modern functionals and making increasingly large ground-state and excited-state simulations manageable on NVIDIA GPUs.

NVIDIA Nemotron 3 Ultra Open Model Advances Agentic Coding for Chip Design

Chip design depends on specialized register-transfer level (RTL) coding, which demands high accuracy, deep domain expertise and flexibility over deployment. 

With ACE-RTL — an agent for designing hardware from NVIDIA Research — NVIDIA Nemotron™ 3 Ultra leads among open models in agentic RTL coding on the comprehensive verilog design problems benchmark across RTL coding tasks.

This represents how Nemotron 3 Ultra offers industry-leading accuracy and efficiency and can be post-trained on proprietary data — deployed locally or on premises — giving enterprises greater control, customization and data privacy as they build AI agents for chip design.

Developers can get started with Nemotron 3 Ultra using Cadence’s harness; Synopsys’ fully autonomous, long-running agents for design verification and analog and mixed-signal workflows; Siemens’ Questa One smart verification agentic toolkit; as well as on Hugging Face.

Software Leaders Build Autonomous AI Engineers With NVIDIA

Industrial engineering leaders are already using the new and expanded NVIDIA Agent Toolkit components to develop autonomous AI engineers.

Cadence is using NVIDIA Nemotron, accelerated computing and CUDA-X libraries with the recently launched Cadence AuraStack AI Super Agent and the Cadence Millennium M2000 platform to autonomously drive advanced packaging and printed circuit board (PCB) design from exploration through signoff, delivering up to 20x faster multiphysics performance. This joins Cadence’s complete portfolio of silicon design super agents which collectively cover the chip design workflow end to end, from architecture through manufacturing signoff.

In addition, the collaboration extends from agentic design to the underlying compute as Cadence’s portfolio of EDA and system design automation tools, including Cadence Jasper, a formal verification platform, is being optimized for the NVIDIA Vera CPU to help engineering teams validate advanced chip designs faster.

Synopsys is using the NVIDIA Agent Toolkit, NVIDIA NIM™ microservices, Nemotron open models, the NVIDIA NeMo™ Gym library and NVIDIA NemoClaw™ blueprints with Synopsys AgentEngineer to build secure, accelerated agentic workflows across chip and system design. Leveraging Ansys Icepak, Synopsys’ agentic workflow autonomously executes simulation setup, and pre- and post-processing for complex GPU cooling design optimization. Synopsys is developing NVIDIA cuISS use cases to accelerate simulation workloads.

The collaboration extends from agentic workflows to the underlying compute platform as Synopsys VCS, a high-performance functional verification solution used to simulate and validate complex chip designs before fabrication, is being optimized for the NVIDIA Vera CPU to help improve verification throughput.

Siemens is using NVIDIA NeMo Gym, Nemotron open models and CUDA-X libraries with the Siemens Fuse EDA AI Agent to orchestrate multi-tool and multi-agent workflows across semiconductor, 3D-IC, PCB and system design, from conception through signoff. In Siemens Solido Characterization Suite, these agentic AI workflows are delivering more than 10x faster library characterization while reducing token costs by more than 10x.

Samsung is using NVIDIA cuLitho and CUDA-X libraries to achieve up to 20x greater performance for computational lithography and applying NVIDIA PhysicsNeMo to perform chip-scale thermal-stress analysis with numerical solver-level accuracy across domains containing up to 10 billion cells.

ChipAgents is using NVIDIA Agent Toolkit to build domain-specific AI agents for chip design and verification. The team is fine-tuning NVIDIA Nemotron models for complex end-to-end semiconductor design and verification workflows including debug, formal verification, coverage and more.

Silvaco is using NVIDIA accelerated computing to scale high-accuracy 3D optical simulation in the Silvaco Victory Device. Running on 32 NVIDIA GPUs interconnected by NVIDIA NVLink™ technology, it completed a 3.2-billion-mesh-node photonic edge coupler simulation in under four hours, a workload beyond the practical limits of CPU-based simulation.

Keysight is harnessing NVIDIA cuDSS to accelerate electromagnetic simulations by up to 10x, while Samsung, Synopsys and TSMC are integrating NVIDIA cuEST into its GPU-accelerated pipeline to achieve up to a 50x speedup for key quantum-chemistry workloads.

Learn more by joining NVIDIA at DAC.

About NVIDIA

NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.

For further information, contact:

Paris Fox
Corporate Communications
NVIDIA Corporation
[email protected]

Certain statements in this press release including, but not limited to, statements as to: With NVIDIA Agent Toolkit, developers being able to build agentic engineers that reason using physics, run complex simulations and generate high-fidelity data to become a new engine for innovation in chip and system design; expectations with respect to growth, performance, availability, and benefits of NVIDIA’s products, services and technologies, and related trends and drivers; expectations with respect to NVIDIA’s third party arrangements, including with its collaborators and partners; expectations with respect to technology developments, and related trends and drivers; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

Many of the products and features described herein remain in various stages and will be offered on a when-and-if-available basis. The statements above are not intended to be, and should not be interpreted as a commitment, promise, or legal obligation, and the development, release, and timing of any features or functionalities described for our products is subject to change and remains at the sole discretion of NVIDIA. NVIDIA will have no liability for failure to deliver or delay in the delivery of any of the products, features or functions set forth herein.

© 2026 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, CUDA-X, NemoClaw, Nemotron, NVIDIA NeMo, NVIDIA NIM, NVLink and PhysicsNeMo are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability and specifications are subject to change without notice.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8cc7fd5d-80e0-4960-9176-41e04d3909a0

ROCKVILLE, Md. and SUZHOU, China, July 26, 2026 (GLOBE NEWSWIRE) — Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855), a global, commercial-stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel therapies to address unmet medical needs in cancer, today announced that its Chairman and Chief Executive Officer, Dr. Dajun Yang, has been named to The Medicine Maker Power List 2026, ranking No. 3 among the Top 10 in the Small Molecules category. Published annually, the Power List recognizes global leaders across small molecules, biopharma and advanced therapies. Nominated by industry peers worldwide and selected by a panel of expert judges, the Power List celebrates individuals whose work continues to advance drug discovery, manufacturing innovation and patient access to innovative medicines. The 2026 edition honors 60 distinguished leaders from across the global pharmaceutical industry.

The Medicine Maker is a leading international publication serving the global pharmaceutical industry, covering the full spectrum from drug discovery and CMC development to industrialization and commercialization. Since its launch, the annual Power List has featured industry leaders, renowned scientists and other distinguished figures from across the global pharmaceutical industry whose work continues to advance pharmaceutical innovation and has become an important benchmark of leadership and industry impact.

Dr. Dajun Yang
’
s Profile in The Medicine Maker
’
s Power List 2026
:

“Dajun co-founded Ascentage Pharma in 2009 and has spent more than 30 years working in oncology, apoptosis pathways, and innovative drug development. Under his leadership, Ascentage has advanced a pipeline of small molecule cancer therapies with global first- and best-in-class potential, including olverembatinib, the first third-generation BCR-ABL tyrosine kinase inhibitor approved in China.

In July 2025, Ascentage secured approval in China for lisaftoclax in chronic lymphocytic leukemia and small lymphocytic lymphoma, making it only the second Bcl-2 inhibitor approved anywhere in the world since venetoclax in 2016.

Dajun is now leading several global Phase III programs, including studies of olverembatinib and lisaftoclax across hematologic cancers and solid tumors, while also advancing newer approaches such as targeted protein degradation.”

For more than three decades, Dr. Yang has remained committed to advancing global innovation in oncology drug development with a focus on addressing significant unmet medical needs. Under his leadership, Ascentage Pharma has successfully commercialized two innovative therapies, olverembatinib and lisaftoclax, both of which filled important gaps in clinical treatment. The Company is currently advancing multiple global registrational Phase III clinical studies, four of which have been cleared by both the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). Notably, lisaftoclax is currently the only Bcl-2 inhibitor being evaluated in a global registrational Phase III study for patients with higher-risk myelodysplastic syndromes (MDS), with the potential to address a longstanding unmet clinical need in this setting.

Under Dr. Yang’s leadership, the Company has also completed one of the largest business development transactions involving an innovative small molecule company in China. Following its listing on the Hong Kong Stock Exchange in October 2019 and its Nasdaq listing in January 2025, Ascentage Pharma became the first biopharmaceutical company to achieve dual primary listings by listing first in Hong Kong and subsequently in the United States.

Dr. Dajun Yang stated: “I am honored to be included in The Medicine Maker Power List 2026. This recognition is not only a personal honor, but also a recognition of the Ascentage Pharma team’s longstanding dedication to global innovation in small molecule drug discovery. Developing innovative medicines is a long-term endeavor. We will continue to address unmet medical needs worldwide by advancing our apoptosis-targeted innovation pipeline, accelerating our global development efforts, and bringing more innovative medicines to patients around the world.”

* Olverembatinib and lisaftoclax are currently under investigation and have not yet been approved by
the US FDA.

About Ascentage Pharma

Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) (“Ascentage Pharma” or the “Company”) is a global, commercial stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel, differentiated therapies to address unmet medical needs in cancer. The Company has built a rich pipeline of innovative drug products and candidates that include inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53, next-generation kinase inhibitors, and protein degraders.

The Company’s first approved product, olverembatinib, is the first novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with CML in chronic phase (CML-CP) with T315I mutations, CML in accelerated phase (CML-AP) with T315I mutations, and CML-CP that is resistant or intolerant to first and second-generation TKIs. It is covered by the China National Reimbursement Drug List (NRDL). Ascentage Pharma is currently conducting an FDA- and EMA-cleared registrational Phase III trial, called POLARIS-2, of olverembatinib for CML, as well as an FDA- and EMA-cleared registrational Phase III trials for patients with newly diagnosed Ph+ ALL, called POLARIS-1, and SDH-deficient GIST patients, called POLARIS-3.

The Company’s second approved product, lisaftoclax, is a novel Bcl-2 inhibitor for the treatment of various hematologic malignancies. Lisaftoclax has been approved by China’s National Medical Products Administration (NMPA) for the treatment of adult patients with chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) who have previously received at least one systemic therapy including Bruton’s tyrosine kinase (BTK) inhibitors. The Company is currently conducting four global registrational Phase III trials: the FDA- and EMA- cleared GLORA study of lisaftoclax in combination with BTK inhibitors in patients with CLL/SLL previously treated with BTK inhibitors for more than 12 months with suboptimal response; the GLORA-2 study in patients with newly diagnosed CLL/SLL; the GLORA-3 study in newly diagnosed, elderly and unfit patients with AML; and the FDA- and EMA-cleared GLORA-4 study in patients with newly diagnosed higher risk MDS.

Leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships and other relationships with numerous leading biotechnology and pharmaceutical companies, such as Takeda, AstraZeneca, Merck, Pfizer, and Innovent, in addition to research and development relationships with leading research institutions, such as Dana-Farber Cancer Institute, Mayo Clinic, National Cancer Institute and the University of Michigan. For more information, visit https://ascentage.com/

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release may be forward-looking statements, including statements that express Ascentage Pharma’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition. These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma’s filings with the SEC, including those set forth in the sections titled “Risk factors” and “Cautionary note regarding forward-looking statements” in its Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 29, 2026, the sections headed “Forward-looking Statements” and “Risks Factors” in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited where the Company’s ordinary shares are listed it has made or it makes from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this presentation do not constitute profit forecast by the Company’s management.

As a result of these factors, you should not rely on these forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are based on Ascentage Pharma’s current expectations and beliefs concerning future developments and their potential effects and speak only as of the date of such statements. Ascentage Pharma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information:

Stella Yang
Ascentage Pharma
[email protected]
+1 (301) 792-6286

Second-quarter highlights

• Orders of
  $10.5 billion
  , including
  $7.1 billion
  of IET orders.
• RPO of
  $40.1 billion
  , including record IET RPO of
  $37.1 billion
  .
• Revenue of
  $6.7 billion
  .
• Attributable net income of
  $681 million
  .
• GAAP diluted EPS of
  $0.68
  and adjusted diluted EPS* of
  $0.64
  .
• Adjusted EBITDA* of
  $1,231 million
  .
• Cash flows from operating activities of
  $1,345 million
  and free cash flow* of
  $1,109 million
  .

HOUSTON and LONDON, July 26, 2026 (GLOBE NEWSWIRE) — Baker Hughes Company (Nasdaq: BKR) (“Baker Hughes” or the “Company”) announced results today for the second quarter of 2026.

“Baker Hughes delivered another strong quarter, reflecting the breadth of our portfolio and continued momentum across data center, gas infrastructure, and upstream markets. Disciplined execution and our ability to effectively navigate ongoing Middle East challenges contributed to Adjusted EBITDA exceeding the high end of our guidance range. Looking ahead, favorable underlying fundamentals support our confidence in achieving the midpoint of our full-year guidance as we continue to manage through the Middle East uncertainty.”

“IET delivered another exceptional quarter of orders, with record bookings doubling year-over-year to $7.1 billion and backlog increasing 19% to a new all-time high. The strength was driven by robust demand across Power Systems and LNG, with particularly strong momentum in power generation. Given broadening customer demand, a growing pipeline across industrial and energy infrastructure markets, and our decision to further expand capacity, we are raising our full-year IET order guidance and increasing our Horizon 2⁽¹⁾ IET orders outlook to more than $45 billion.”

“OFSE delivered an impressive quarter, with EBITDA exceeding the high end of our guidance range despite a complex operating environment. Increased activity and higher product shipments late in the quarter in the Middle East, along with solid performance in North America land and Latin America, drove the upside and demonstrated the resilience and durability of our portfolio despite higher inflationary costs.”

“Our second-quarter performance further reinforces confidence in Baker Hughes’ strategic direction. Energy security and rising power demand are driving investment across both energy and industrial value chains, and our expanding portfolio is increasingly aligned with the most attractive growth opportunities across our core end markets.”

“The successful closing of the Chart acquisition marks a major milestone in our evolution as a leading industrialized energy solutions company. Chart enhances our capabilities in thermal management, air and gas handling, compression and lifecycle services, while expanding our reach across attractive core and adjacent markets. The addition of Chart further advances our portfolio, broadens our growth opportunities, and enhances our ability to create long-term value for customers and shareholders. We are pleased to welcome Chart’s employees to Baker Hughes and look forward to their contributions as part of our team,” concluded Simonelli.

^(
1
)
<sub>Horizon 2 represents 2026-2028.


* Non-GAAP measure. See reconciliations in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.”</sub>

	Three Months Ended							Variance
(in millions except per share amounts)	June 30, 2026		March 31, 2026		June 30, 2025			Sequential		Year-over-year
Orders	$	10,501	$	8,159	$	7,032		29	%	49	%
Revenue		6,742		6,587		6,910		2	%	(2	%)
Net income attributable to Baker Hughes		681		930		701		(27	%)	(3	%)
Adjusted net income attributable to Baker Hughes*		640		573		623		12	%	3	%
Adjusted EBITDA*		1,231		1,158		1,212		6	%	2	%
Diluted earnings per share (EPS)		0.68		0.93		0.71		(27	%)	(3	%)
Adjusted diluted EPS*		0.64		0.58		0.63		12	%	2	%
Cash flow from operating activities		1,345		500		510		F		F
Free cash flow*		1,109		210		239		F		F

<sub>* Non-GAAP measure. See reconciliations in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.”



Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers.



“F” is used in the above table when variance is above 100%. Additionally, “U” is used when variance is below (100)%.</sub>

Quarter Highlights

Executing our portfolio management strategy

• Announced the sale of Waygate Technologies to Hexagon, in an all-cash transaction for approximately $1.45 billion, before customary closing adjustments.
• In July, completed the previously announced purchase of Chart Industries, Inc. (NYSE: GTLS) in an all-cash transaction. The acquisition enhances Baker Hughes’ portfolio with highly complementary technologies and expands exposure to attractive industrial and energy markets, while increasing the Company’s installed base and recurring aftermarket opportunities.

Key awards and technology achievements

Leveraging enterprise-wide capabilities

• Advanced large-scale geothermal development in North America through a commercial agreement with Mantle Reach Power, a dedicated geothermal development company backed by EnCap Energy Transition Fund III. With the goal to install up to 500 megawatts of power in the next five years, the Company will act as an integrated subsurface solution provider, and Mantle Reach Power will lead project development, ownership and financing.

Industrial & Energy Technology

Industrial & Energy Technology (“IET”) secured important awards and agreements across diverse end markets and capabilities.

• Received a major Venture Global award to provide six liquefied natural gas (LNG) blocks, for a total of 12 liquefaction modules. Each block is based on two single mixed-refrigerant (SMR) liquefaction modules and related compression trains featuring Baker Hughes’ advanced centrifugal compressor technology, as well as cold boxes, air coolers and integrated control systems, building on the successful track record of delivering critical energy infrastructure in Louisiana.
• Secured substantial awards from Cheniere and Bechtel that highlight Baker Hughes’ full-lifecycle LNG capabilities, including liquefaction equipment for Sabine Pass Train 7, as well as a boil-off gas re-liquefaction unit and fleet-wide gas turbine upgrades across the facility. The awards are expected to support approximately 6 MTPA of additional LNG production capacity.
• Strengthened its position in floating LNG through a significant award from Golar to supply four PGT25 gas turbine-driven refrigerant compressor trains for a 3.5 MTPA floating LNG facility, marking the fourth Golar vessel to utilize Baker Hughes’ liquefaction solutions.
• Extended a significant, multi-year services agreement with Nigeria LNG to enhance the reliability and efficiency of the project’s critical Train 7 turbomachinery equipment.
• Received a major award from Dynamis Power Solutions, including 76 NovaLT™16 gas turbines, for approximately 1.3 GW of capacity for its hypermobile power solutions for a wide range of data center and oil & gas applications in North America.
• Signed a multi-year strategic agreement with Kodiak Gas Services, including an initial major award supporting 1 GW of power generation capacity and a broader framework providing a pathway for up to 1.8 GW over time. The initial order leverages Baker Hughes’ NovaLT™16, Frame 5 and BRUSH™ Power Generation generator technologies to meet accelerating power demand from data centers and energy infrastructure projects across North America.
• Awarded significant order to enable improved recovery, sustained production levels, and extension of field life in a mature offshore field in the Middle East. The scope includes nine electric motor-driven compressor trains for gas injection, gas lift, and boosting applications.
• Received a significant award from Saipem Nasser Saeed Al-Hajri Contracting Company (SNSH), a JV between Saipem and NSH in KSA, following a Novation Agreement with Aramco. The contract covers the supply of compression solutions for Aramco’s Uthmaniyah conventional gas wells, supporting production optimization and enhanced recovery to extend the life of the field. The scope includes five electric motor-driven centrifugal compressor trains, together with associated balance-of-plant and auxiliary systems.
• Continued expanding IET’s presence into new markets, securing RINA certification for its fuel-flexible NovaLT™16 for maritime propulsion applications, specifically to operate on natural gas and up to 100% hydrogen to support maritime decarbonization.
• Grew digital solutions globally across a mix of software, hardware and services awards, leveraging the Company’s Cordant™ Solutions portfolio to deploy asset performance software, analytics, and monitoring technologies through agreements with SINOPEC, Petrobras, and KNPC (formerly KIPIC) to enhance asset visibility and optimize operational performance. In addition, the Company secured a multi-year preferred supplier agreement with a global OEM to include vibration, sensing, condition monitoring, asset health software and services ─ supporting broader deployment across both new build and retrofit projects while driving greater standardization of asset protection and monitoring technologies.

Oilfield Services & Equipment

Oilfield Services & Equipment (“OFSE”) secured strategic orders and agreements across key product lines and geographies.

• Expanded the Company’s Norwegian presence and relationship with Equinor, strengthening North Sea capabilities. The Company inaugurated a new subsea manufacturing facility in Dusavik and announced two significant contract extensions for integrated drilling and well services solutions, as well as wireline intervention services.
• Secured a major contract extension and expansion with Petrobras for integrated well construction solutions across Brazil’s Santos Basin. The agreement builds on a 2024 well construction services award, further expanding the scope and impact of Baker Hughes’ integrated drilling solutions in the region.
• Signed significant contracts for wireline services with Oil and Natural Gas Corporation of India, to provide up to 46 advanced wireline units and integrated drill stem testing kits that will help improve reservoir insight, optimize production and support more efficient field development in offshore and onshore oil & gas fields.
• Secured a key milestone award for Leucipa™, marking its first deployment outside of the oil & gas sector. By integrating Baker Hughes’ ESP technology with the Leucipa™ digital optimization platform, the solution will support a geothermal and lithium extraction development in Europe through real-time monitoring, operational insights and performance optimization.
• Signed a strategic collaboration agreement with Helmerich & Payne, Inc. to support geothermal exploration and development in the United States. The companies will provide customers earlier access to dedicated rig capacity, reducing execution risk and allowing greater efficiency to move from project evaluation to development.
• Received a substantial subsea production systems contract from Azule Energy to support ultra-deepwater, greenfield development offshore Angola. Baker Hughes will manufacture and supply horizontal tree systems to enable safe, reliable and efficient production.
• Won a significant contract from McDermott to deliver integrated subsea systems for a natural gas development project offshore Brunei Darussalam. The scope includes six trees, controls, services, and subsea wellheads.

Consolidated Financial Results

Revenue for the quarter was $6,742 million, an increase of $155 million, or 2% sequentially, and down $168 million, or 2% year-over-year. The decrease in revenue year-over-year was mainly driven by the impact of the Precision Sensors & Instrumentation (“PSI”) and Surface Pressure Control (“SPC”) dispositions.

The Company’s total book-to-bill ratio in the second quarter of 2026 was 1.6; the IET book-to-bill ratio was 2.2.

Net income, as determined in accordance with generally accepted accounting principles in the United States (“GAAP”) for the second quarter of 2026, was $681 million. Net income decreased $249 million, or 27% sequentially, and decreased $20 million, or 3% year-over-year.

Adjusted net income (a non-GAAP financial measure) for the second quarter of 2026 was $640 million, which excludes adjustments totaling $41 million. A list of the adjusting items and associated reconciliation from GAAP has been provided in Table 1b in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.” Adjusted net income for the second quarter of 2026 was up $67 million, or 12% sequentially, and up $17 million, or 3% year-over-year.

Depreciation and amortization for the second quarter of 2026 was $333 million.

Adjusted EBITDA (a non-GAAP financial measure) for the second quarter of 2026 was $1,231 million, which excludes adjustments totaling $60 million. See Table 1a in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.” Adjusted EBITDA for the second quarter was up $73 million, or 6% sequentially, and up $19 million, or 2% year-over-year.

The sequential increase in adjusted net income and Adjusted EBITDA was primarily driven by higher volume, price, productivity, FX, and cost-out initiatives, partially offset by inflation.

The year-over-year increase in adjusted net income and Adjusted EBITDA was primarily driven by productivity, price, cost-out initiatives, and FX, partially offset by inflation, lower volume, change in business mix, and the PSI and SPC dispositions.

Other Financial Items

Remaining Performance Obligations (“RPO”) in the second quarter of 2026 ended at $40.1 billion, an increase of $4.0 billion from the first quarter of 2026. OFSE RPO was $3.0 billion, remained flat sequentially, while IET RPO was $37.1 billion, up $4.0 billion sequentially. Within IET RPO, Gas Technology Equipment and Gas Technology Services were $15.0 billion and $16.7 billion, respectively.

Income tax expense in the second quarter of 2026 was $210 million.

Other (income) expense, net in the second quarter of 2026 was $(104) million, primarily related to a net gain of $125 million from the change in fair value of equity securities, partially offset by transaction related costs of $30 million incurred in connection with business disposals and acquisitions, and $24 million working capital adjustments related to business dispositions.

GAAP diluted earnings per share was $0.68 for the second quarter of 2026. Adjusted diluted earnings per share (a non-GAAP financial measure) was $0.64. Excluded from adjusted diluted earnings per share were all items listed in Table 1b in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.”

Cash flow from operating activities was $1,345 million for the second quarter of 2026. Free cash flow (a non-GAAP financial measure) for the quarter was $1,109 million. A reconciliation from GAAP has been provided in Table 1c in the section titled “Reconciliation of GAAP to non-GAAP Financial Measures.”

Capital expenditures, net of proceeds from disposal of assets, were $236 million for the second quarter of 2026, of which $135 million was for OFSE and $85 million was for IET.

Results by Reporting Segment

The following segment discussions and variance explanations are intended to reflect management’s view of the relevant comparisons of financial results on a sequential or year-over-year basis, depending on the business dynamics of the reporting segments.

Oilfield Services & Equipment

(in millions)	Three Months Ended										Variance
Segment results	June 30, 2026			March 31, 2026			June 30, 2025				Sequential		Year-over-year
Orders	$	3,413		$	3,272		$	3,503			4	%	(3	%)
Revenue	$	3,451		$	3,237		$	3,617			7	%	(5	%)
EBITDA	$	605		$	565		$	677			7	%	(11	%)
EBITDA margin		17.5	%		17.4	%		18.7	%		0.1pts		-1.2pts

(in millions)	Three Months Ended							Variance
Revenue by Product Line	June 30, 2026		March 31, 2026		June 30, 2025			Sequential		Year-over-year
Well Construction	$	899	$	843	$	921		7	%	(2	%)
Completions, Intervention, and Measurements		944		883		935		7	%	1	%
Production Solutions		930		898		968		4	%	(4	%)
Subsea & Surface Pressure Systems		678		613		793		11	%	(14	%)
Total Revenue	$	3,451	$	3,237	$	3,617		7	%	(5	%)

(in millions)	Three Months Ended							Variance
Revenue by Geographic Region	June 30, 2026		March 31, 2026		June 30, 2025			Sequential		Year-over-year
North America	$	933	$	927	$	928		1	%	1	%
Latin America		732		600		639		22	%	15	%
Europe/CIS/Sub-Saharan Africa		568		558		653		2	%	(13	%)
Middle East/Asia		1,218		1,152		1,398		6	%	(13	%)
Total Revenue	$	3,451	$	3,237	$	3,617		7	%	(5	%)
North America	$	933	$	927	$	928		1	%	1	%
International	$	2,518	$	2,310	$	2,689		9	%	(6	%)

<sub>EBITDA excludes depreciation and amortization of
$266 million
,
$278 million
, and
$233 million
for the
three months ended
June 30, 2026
,
March 31, 2026
, and
June 30, 2025
, respectively. EBITDA margin is defined as EBITDA divided by revenue.



“F” is used in the above table when variance is above 100%. Additionally, “U” is used when variance is below (100)%.</sub>

OFSE orders of $3,413 million for the second quarter of 2026 increased by $141 million, or 4% sequentially. Subsea and Surface Pressure Systems orders were $667 million, up $17 million, or 3% sequentially, and down $31 million, or 4% year-over-year.

OFSE revenue of $3,451 million for the second quarter of 2026 was up $214 million, or 7% sequentially, and down $166 million, or 5% year-over-year. The year-over-year decrease was driven mainly by the impact of the SPC disposition and disruptions in the Middle East, offset by the benefit of FX in Latin America.

North America revenue was $933 million, up $5 million, or 1% sequentially. International revenue was $2,518 million, up $208 million, or 9% sequentially, with an increase in Latin America, Middle East/Asia, and Europe/CIS/Sub-Saharan Africa.

Segment EBITDA for the second quarter of 2026 was $605 million, an increase of $40 million, or 7% sequentially. The sequential increase in EBITDA was a result of higher volume, price, cost-out initiatives, and FX, partially offset by inflation, productivity, and a change in business mix.

Industrial & Energy Technology

(in millions)	Three Months Ended										Variance
Segment results	June 30, 2026			March 31, 2026			June 30, 2025				Sequential		Year-over-year
Orders	$	7,088		$	4,887		$	3,530			45	%	F
Revenue	$	3,291		$	3,350		$	3,293			(2	%)	—	%
EBITDA	$	678		$	678		$	585			—	%	16	%
EBITDA margin		20.6	%		20.2	%		17.8	%		0.3pts		2.8pts

(in millions)	Three Months Ended							Variance
Orders by Product Line	June 30, 2026		March 31, 2026		June 30, 2025			Sequential		Year-over-year
Gas Technology Equipment	$	4,913	$	1,824	$	781		F		F
Gas Technology Services		1,314		973		986		35	%	33	%
Total Gas Technology		6,227		2,797		1,767		F		F
Industrial Products		533		604		513		(12	%)	4	%
Industrial Solutions		274		229		327		20	%	(16	%)
Total Industrial Technology		807		833		839		(3	%)	(4	%)
Climate Technology Solutions		54		1,257		923		(96	%)	(94	%)
Total Orders	$	7,088	$	4,887	$	3,530		45	%	F

(in millions)	Three Months Ended							Variance
Revenue by Product Line	June 30, 2026		March 31, 2026		June 30, 2025			Sequential		Year-over-year
Gas Technology Equipment	$	1,524	$	1,665	$	1,624		(9	%)	(6	%)
Gas Technology Services		831		791		752		5	%	11	%
Total Gas Technology		2,355		2,456		2,377		(4	%)	(1	%)
Industrial Products		549		491		488		12	%	13	%
Industrial Solutions		182		185		273		(2	%)	(33	%)
Total Industrial Technology		731		676		761		8	%	(4	%)
Climate Technology Solutions		205		218		156		(6	%)	31	%
Total Revenue	$	3,291	$	3,350	$	3,293		(2	%)	—	%

<sub>EBITDA excludes depreciation and amortization of
$60 million
,
$69 million
, and
$56 million
for the
three months ended
June 30, 2026
,
March 31, 2026
, and
June 30, 2025
, respectively. EBITDA margin is defined as EBITDA divided by revenue.



“F” is used in the above table when variance is above 100%. Additionally, “U” is used when variance is below (100)%.</sub>

IET orders of $7,088 million for the second quarter of 2026 increased by $3,558 million, or 101% year-over-year. The increase was driven by continued strength in Gas Technology Equipment and Gas Technology Services.

IET revenue of $3,291 million for the second quarter of 2026 remained flat year-over-year, with decreases in Gas Technology Equipment and Industrial Solutions driven by the PSI disposition, offset by increases in all other product lines.

Segment EBITDA for the quarter was $678 million, an increase of $93 million, or 16% year-over-year. The year-over-year increase in segment EBITDA was driven by price, productivity, cost-out initiatives, and FX, partially offset by lower volume and inflation.

Reconciliation of GAAP to non-GAAP Financial Measures

Management provides non-GAAP financial measures because it believes such measures are widely accepted financial indicators used by investors and analysts to analyze and compare companies on the basis of operating performance (including adjusted EBITDA; adjusted net income attributable to Baker Hughes; and adjusted diluted earnings per share) and liquidity (free cash flow) and that these measures may be used by investors to make informed investment decisions. Management believes that the exclusion of certain identified items from several key operating performance measures enables us to evaluate our operations more effectively, to identify underlying trends in the business, and to establish operational goals for certain management compensation purposes. Management also believes that free cash flow is an important supplemental measure of our cash performance but should not be considered as a measure of residual cash flow available for discretionary purposes, or as an alternative to cash flow from operating activities presented in accordance with GAAP.

Table 1a. Reconciliation of Net Income Attributable to Baker Hughes to Adjusted EBITDA and Segment EBITDA

	Three Months Ended
(in millions)	June 30, 2026			March 31, 2026			June 30, 2025
Net income attributable to Baker Hughes (GAAP)	$	681		$	930		$	701
Net income attributable to noncontrolling interests		1			8			10
Provision for income taxes		210			336			256
Interest expense, net		66			86			54
Depreciation & amortization		333			354			293
Restructuring		11			37			—
Inventory impairment		—			2			—
Gain (loss) on business dispositions(1)		24			(721	)		—
Change in fair value of equity securities(1)		(125	)		50			(119	)
Transaction related costs(1)		30			28			—
Other charges and credits(1)					48			17
Adjusted EBITDA (non-GAAP)		1,231			1,158			1,212
Corporate costs		82			74			78
Other (income) / expense not allocated to segments		(30	)		11			(28	)
Total Segment EBITDA (non-GAAP)	$	1,283		$	1,243		$	1,262
OFSE		605			565			677
IET		678			678			585

⁽¹⁾   
_{The gain on business dispositions, change in fair value of equity securities, transaction related costs, and other charges and credits are reported in “Other (income) expense, net” on the condensed consolidated statements of income (loss).}

Table 1a reconciles net income attributable to Baker Hughes, which is the most directly comparable financial result determined in accordance with GAAP, to adjusted EBITDA and Segment EBITDA. Adjusted EBITDA and Segment EBITDA exclude the impact of certain identified items.

Table 1b. Reconciliation of Net Income Attributable to Baker Hughes to Adjusted Net Income Attributable to Baker Hughes

	Three Months Ended
(in millions, except per share amounts)	June 30, 2026			March 31, 2026			June 30, 2025
Net income attributable to Baker Hughes (GAAP)	$	681		$	930		$	701
Restructuring		11			37			—
Inventory impairment		—			2			—
(Gain) loss on business dispositions		24			(721	)		—
Change in fair value of equity securities		(125	)		50			(119	)
Transaction related costs(1)		30			72			—
Other adjustments		—			48			17
Tax adjustments		19			155			24
Total adjustments, net of income tax		(41	)		(357	)		(78	)
Less: adjustments attributable to noncontrolling interests		—			—			—
Adjustments attributable to Baker Hughes		(41	)		(357	)		(78	)
Adjusted net income attributable to Baker Hughes (non-GAAP)	$	640		$	573		$	623
Denominator:
Weighted-average shares of Class A common stock outstanding diluted		997			996			991
Earnings per share – diluted (GAAP)	$	0.68		$	0.93		$	0.71
Total adjustments per share, net of income tax		(0.04	)		(0.35	)		(0.08	)
Adjusted earnings per share – diluted (non-GAAP)	$	0.64		$	0.58		$	0.63

⁽¹⁾   
_{For the period ending March 31, 2026, transaction related costs included $43 million of interest expense fees related to the Bridge Facility.}

Table 1b reconciles net income attributable to Baker Hughes, which is the most directly comparable financial result determined in accordance with GAAP, to adjusted net income attributable to Baker Hughes. Adjusted net income attributable to Baker Hughes excludes the impact of certain identified items.

Table 1c. Reconciliation of Net Cash Flows from Operating Activities to Free Cash Flow

	Three Months Ended
(in millions)	June 30, 2026			March 31, 2026			June 30, 2025
Net cash flows from operating activities (GAAP)	$	1,345		$	500		$	510
Add: cash used for capital expenditures, net of proceeds from disposal of assets		(236	)		(290	)		(271	)
Free cash flow (non-GAAP)	$	1,109		$	210		$	239

Table 1c reconciles net cash flows from operating activities, which is the most directly comparable financial result determined in accordance with GAAP, to free cash flow. Free cash flow is defined as net cash flows from operating activities less expenditures for capital assets plus proceeds from disposal of assets.

Financial Tables (GAAP)
Condensed Consolidated Statements of Income
(Unaudited)
	Three Months Ended June 30,						Six Months Ended June 30,
(In millions, except per share amounts)		2026			2025			2026			2025
Revenue	$	6,742		$	6,910		$	13,329		$	13,337
Costs and expenses:
Cost of revenue		5,165			5,295			10,246			10,247
Selling, general and administrative		569			567			1,131			1,144
Research and development costs		143			161			277			307
Restructuring		11			—			50			—
Other (income) expense, net		(104	)		(134	)		(691	)		6
Interest expense, net		66			54			151			105
Income before income taxes		892			967			2,165			1,528
Provision for income taxes		(210	)		(256	)		(545	)		(408	)
Net income		682			711			1,620			1,120
Less: Net income attributable to noncontrolling interests		1			10			9			17
Net income attributable to Baker Hughes Company	$	681		$	701		$	1,611		$	1,103
Per share amounts:
Basic income per Class A common stock	$	0.69		$	0.71		$	1.63		$	1.11
Diluted income per Class A common stock	$	0.68		$	0.71		$	1.62		$	1.11
Weighted average shares:
Class A basic		992			988			991			990
Class A diluted		997			991			996			995
Cash dividend per Class A common stock	$	0.23		$	0.23		$	0.46		$	0.46

Condensed Consolidated Statements of Financial Position
(Unaudited)
(In millions)	June 30, 2026		December 31, 2025
ASSETS
Current Assets:
Cash and cash equivalents	$	15,727	$	3,715
Current receivables, net		6,654		6,641
Inventories, net		4,961		4,954
All other current assets		3,241		3,518
Total current assets		30,583		18,828
Property, plant and equipment, less accumulated depreciation		5,540		5,326
Goodwill		5,566		6,068
Other intangible assets, net		3,997		4,097
Contract and other deferred assets		1,947		1,620
All other assets		4,987		4,942
Total assets	$	52,620	$	40,881
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable	$	4,509	$	4,579
Short-term debt		774		689
Progress collections and deferred income		6,598		5,904
All other current liabilities		2,718		2,705
Total current liabilities		14,599		13,877
Long-term debt		15,479		5,398
Liabilities for pensions and other postretirement benefits		959		1,066
All other liabilities		1,499		1,530
Equity		20,084		19,010
Total liabilities and equity	$	52,620	$	40,881
Outstanding Baker Hughes Company shares:
Class A common stock		992		987

Condensed Consolidated Statements of Cash Flows
(Unaudited)
	Three Months Ended June 30,			Six Months Ended June 30,
(In millions)		2026			2026			2025
Cash flows from operating activities:
Net income	$	682		$	1,620		$	1,120
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization		333			687			579
Stock-based compensation cost		57			102			102
Change in fair value of equity securities		(125	)		(75	)		21
(Gain) loss on business dispositions		24			(697	)		—
(Benefit) provision for deferred income taxes		(166	)		58			(17	)
Working capital		523			350			98
Other operating items, net		17			(200	)		(684	)
Net cash flows provided by operating activities		1,345			1,845			1,219
Cash flows from investing activities:
Expenditures for capital assets		(300	)		(636	)		(601	)
Proceeds from disposal of assets		64			110			74
Proceeds from business dispositions		—			1,381			—
Other investing items, net		72			19			(69	)
Net cash flows provided by (used in) investing activities		(164	)		874			(596	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		—			9,885			—
Dividends paid		(228	)		(456	)		(456	)
Repurchase of Class A common stock		—			—			(384	)
Other financing items, net		(8	)		(142	)		(105	)
Net cash flows provided by (used in) financing activities		(236	)		9,287			(945	)
Effect of currency exchange rate changes on cash and cash equivalents		18			6			45
(Decrease) increase in cash and cash equivalents		963			12,012			(277	)
Cash and cash equivalents, beginning of period		14,764			3,715			3,364
Cash and cash equivalents, end of period	$	15,727		$	15,727		$	3,087
Supplemental cash flows disclosures:
Income taxes paid, net of refunds	$	193		$	381		$	418
Interest paid	$	181		$	237		$	148

Supplemental Financial Information

Supplemental financial information can be found on the Company’s website at: investors.bakerhughes.com in the Financial Information section under Quarterly Results.

Conference Call and Webcast

The Company has scheduled an investor conference call to discuss management’s outlook and the results reported in today’s earnings announcement. The call will begin at 9:30 a.m. Eastern time, 8:30 a.m. Central time on Monday, July 27, 2026, the content of which is not part of this earnings release. The conference call will be broadcast live via a webcast and can be accessed by visiting the Events and Presentations page on the Company’s website at: investors.bakerhughes.com. An archived version of the webcast will be available on the website for one month following the webcast.

Forward-Looking Statements

This news release (and oral statements made regarding the subjects of this release) may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, (each a “forward-looking statement”). Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “would,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue,” “target,” “goal” or other similar words or expressions. There are many risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. These forward-looking statements are also affected by the risk factors described in the Company’s annual report on Form 10-K for the annual period ended December 31, 2025 and those set forth from time to time in other filings with the Securities and Exchange Commission (“SEC”). The documents are available through the Company’s website at: https://investors.bakerhughes.com or through the SEC’s Electronic Data Gathering and Analysis Retrieval system at: www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statement, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

Our expectations regarding our business outlook and business plans; the business plans of our customers; oil and natural gas market conditions; cost and availability of resources; economic, legal and regulatory conditions, and other matters are only our forecasts regarding these matters.

These forward-looking statements, including forecasts, may be substantially different from actual results, which are affected by many risks, along with the following risk factors and the timing of any of these risk factors:

• Economic and political conditions – the impact of worldwide economic conditions; the impact of inflation and interest rates; the impact of tariffs, including the potential for significant increases in tariffs and changes in global trade policy that could affect supply chain costs, pricing, and customer demand; the effect that declines in credit availability may have on worldwide economic growth and demand for hydrocarbons; foreign currency exchange fluctuations and changes in the capital markets in locations where we operate; and the impact of government disruptions and sanctions.
• Orders and RPO – our ability to execute on orders and RPO in accordance with agreed specifications, terms and conditions and convert those orders and RPO to revenue and cash.
• Oil and gas market conditions – the level of petroleum industry exploration, development and production expenditures; the price of, volatility in pricing of, and the demand for crude oil and natural gas; drilling activity; drilling permits for and regulation of the shelf and the deepwater drilling; excess productive capacity; crude and product inventories; LNG supply and demand; seasonal and other adverse weather conditions that affect the demand for energy; severe weather conditions, such as tornadoes and hurricanes, that affect exploration and production activities; Organization of Petroleum Exporting Countries (“OPEC”) policy and the adherence by OPEC nations to their OPEC production quotas.
• Terrorism and geopolitical risks – war, military action, terrorist activities or extended periods of international conflict, particularly involving any petroleum-producing or consuming regions, including Russia and Ukraine; and the recent conflict in the Middle East and the associated impact to the Strait of Hormuz; labor disruptions, civil unrest or security conditions where we operate; potentially burdensome taxation; expropriation of assets by governmental action; cybersecurity risks and cyber incidents or attacks; epidemic outbreaks.

About Baker Hughes:

Baker Hughes (Nasdaq: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Investor Relations

Chase Mulvehill
+1 346-297-2561
[email protected]

Media Relations

Adrienne M. Lynch
+1 713-906-8407
[email protected]

HOUSTON and LONDON, July 26, 2026 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR) announced today that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.23 per share of Class A common stock payable on Aug. 17, 2026, to holders of record on Aug. 7, 2026.

Baker Hughes expects to fund its quarterly cash dividend from cash generated from operations.

About Baker Hughes:

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Investor Relations

Chase Mulvehill
+1 346-297-2561
[email protected]

Media Relations

Adrienne M. Lynch
+1 713-906-8407
[email protected]

ALISO VIEJO, Calif., July 26, 2026 (GLOBE NEWSWIRE) — RxSight, Inc. (NASDAQ: RXST) today announced that on July 24, 2026, RxSight granted inducement stock options to purchase a total of 571,286 shares of RxSight’s common stock and inducement restricted stock units (RSUs) covering a total of 2,312,138 shares of RxSight’s common stock to Aziz Mottiwala, RxSight’s new President and Chief Executive Officer in connection with his commencement of employment with RxSight.

The inducement stock options have an exercise price of $5.19 per share, which is equal to the closing price of a share of RxSight common stock on the grant date, and shall vest as follows: 25% of the shares subject to such inducement stock option shall vest on the one year anniversary of July 24, 2026, and one forty-eighth (1/48th) of the shares subject to such inducement stock option shall vest monthly thereafter.

The inducement RSU award shall vest as follows: 20% of the shares subject to the inducement RSU award shall vest on the one year anniversary of July 24, 2026, 20% of the shares subject to the inducement RSU award shall vest on the two-year anniversary of such date, and 60% of the shares subject to the inducement RSU award shall vest on the three-year anniversary of such date.

Each inducement award is subject to the terms of the RxSight, Inc. 2026 Inducement Equity Incentive Plan and related forms of agreements, and were granted as inducements material to Mr. Mottiwala to enter into employment with RxSight in accordance with Nasdaq Listing Rule 5635(c)(4).

About RxSight, Inc.

RxSight, Inc. is an ophthalmic medical device company dedicated to providing high-quality customized vision to patients following cataract surgery. The RxSight Light Adjustable Lens system, comprised of the RxSight Light Adjustable Lens (LAL/LAL+, collectively the “LAL”), RxSight Light Delivery Device (LDD) and accessories, is the first and only commercially available intraocular lens (IOL) technology that can be adjusted after surgery, enabling doctors to customize and deliver high-quality vision to patients after cataract surgery. Additional information about RxSight can be found at www.rxsight.com.

Investor Relations Contact:

Oliver Moravcevic
VP, Investor Relations
[email protected]

Hong Kong, July 26, 2026 (GLOBE NEWSWIRE) — Everbright Digital Holding Limited (NASDAQ: EDHL) (“Company” or “Everbright”), an integrated marketing solutions provider headquartered in Hong Kong, today announced the pricing of its public offering (“Offering”) for the purchase and sale of 4,293,000 of the Company’s ordinary shares, par value US$0.00064 per share (the “Ordinary Shares”). Each Ordinary Share will be sold at an offering price of $1.88 per share. The gross proceeds to the Company from the Offering are expected to be approximately $8.07 million, before deducting placement agent fees and other Offering expenses payable by the Company

WestPark Capital, Inc. is the sole placement agent for the Offering. The Offering is expected to close on or about July 28, 2026, subject to customary closing conditions.

The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

Ortoli Rosenstadt LLP is acting as counsel to the Company, and Sheppard, Mullin, Richter & Hampton LLP is acting as counsel to the placement agent, in connection with the Offering.

The Ordinary Shares are being offered pursuant to a registration statement on Form F-1, as amended (File No. 333-297089) (the “Registration Statement”), which was initially filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 14, 2026, and declared effective by the SEC on July 23, 2026. The Offering is being made only by means of a prospectus which is a part of the Registration Statement. A preliminary prospectus relating to the Offering has been filed with the SEC. Copies of the final prospectus relating to the Offering, when available, may be obtained from WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, California 90067. In addition, a copy of the final prospectus, when available, can also be obtained via the SEC’s website at http://www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Everbright Digital Holding Limited

Everbright Digital Holding Limited is an integrated marketing solutions provider headquartered in Hong Kong. The Company conducts all operations in Hong Kong through its operating subsidiary, Hong Kong United Metaverse Limited. The Company is an integrated marketing solutions provider in Hong Kong that is deeply involved in the metaverse and related technologies, providing one-stop digital marketing services to support businesses through every stage of their development, including metaverse stimulation, virtual reality (VR) and augmented reality (AR) design and creation, creative event planning and management, IP character creation and social media marketing.

For more information, please visit the Company’s website: https://umeta.hk/.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are statements other than historical facts. When the Company and its management uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, statements regarding the expected trading of the Company’s shares of common stock on the Nasdaq Capital Market, the closing of the Offering and the intended use of proceeds. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the Company’s registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at 

http://www.sec.gov

. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For investor and media inquiries, please contact:

Everbright Digital Holding Limited

Leung Chun Yip, CEO

Email: [email protected]