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CCB Securities Investigation: Coastal Financial Securities Fraud Investigation is Pending – Contact BFA Law if You Lost Money after the 43% Stock Drop

BFA Law is investigating whether Coastal Financial Corporation committed securities fraud relating to statements concerning the financial performance and credit quality of its banking as a service segment, including the company’s CCBX partner relationships

NEW YORK, Aug. 12, 2026 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Coastal Financial Corp. (NASDAQ:CCB) for potential securities fraud after its significant stock drop.

If you invested in Coastal Financial securities, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/coastal-financial-class-action-lawsuit.

Key Details of the Coastal Financial ($CCB) Class Action Investigation:

  • Investigation Overview: Securities fraud investigation relating to the company’s statements concerning the credit quality and financial condition of Coastal Financial’s CCBX partner relationships and banking as a service segment
  • Stock Decline: July 30, 2026 – 43.5% Stock Drop
  • Action: Contact BFA Law to discuss your rights

Why is Coastal Financial Being Investigated for Securities Fraud?

Coastal Financial is a bank holding company based in Everett, Washington. The company provides banking as a service to digital financial service providers, companies, and brands that want to provide financial services to their customers through the bank’s CCBX segment.

BFA is investigating whether Coastal Financial misled investors about the financial performance and credit quality of its banking as a service segment, including the company’s CCBX partner relationships.

Why did Coastal Financial’s Stock Drop?

On July 30, 2026, Coastal Financial reported its Q2 2026 financial results. The company revealed a quarterly net loss of $42.1 million, or $(2.76) per diluted common share, compared to net income of $12 million, or $0.78 per diluted common share, the prior year. Coastal Financial stated that its net loss was driven by a $68.8 million credit expense related to an unnamed CCBX partner relationship.

This news caused the price of Coastal Financial stock to decline $30.75 per share, or 43.5%, from a closing price of $70.66 per share on July 29, 2026, to $39.91 per share on July 30, 2026.

Click here for more information:

https://www.bfalaw.com/cases/coastal-financial-class-action-lawsuit

.

What Can You Do?

If you invested in Coastal Financial securities, you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:


https://www.bfalaw.com/cases/coastal-financial-class-action-lawsuit

Or contact:

Adam McCall
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters.

Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm, with clients noting: “[t]here is no better service provider in the practice area,” “[t]he interest of the client is always front and center,” and “[t]here isn’t a better firm in this space.” One testimonial described the firm as “nimble and entrepreneurial,” with a “relentless focus on adding value for clients.”

Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.


https://www.bfalaw.com/cases/coastal-financial-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.



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Valens Semiconductor Reports Strong Second Quarter 2026 Results and Raises Full-Year Revenue Guidance

PR Newswire

  • Delivered Q2 2026 revenue of $18.1 million, exceeding the top end of our guidance
  • Q2 2026 gross margin: 61.5% GAAP; 64.3% non-GAAP
  • Cash, cash equivalents and short-term deposits as of June 30, 2026: $83.4 million
  • Increased full-year 2026 revenue guidance to between $78.0 million and $81.0 million

HOD HASHARON, Israel, Aug. 12, 2026 /PRNewswire/ — Valens Semiconductor Ltd. (NYSE: VLN), a leader in high-performance connectivity chipsets that enable reliable, long-reach video transmission across the world’s most demanding applications, today reported financial results for the second quarter ended June 30, 2026.

“We are pleased with our performance in the second quarter, where we exceeded our guidance and delivered revenue of $18.1 million,” said Yoram Salinger, CEO of Valens Semiconductor. “This quarter demonstrates continued customer demand and highlights the strength of our execution across the business. Our Audio-Video segment remains the established foundation of the company, while our Automotive ADAS design win programs continue to advance toward production and long-term revenue generation. At the same time, our technology leadership, validated by strong customer adoption, is increasingly translating into tangible commercial opportunities, and positioning us for future growth. Together, these achievements contributed to our confidence in the continuation of this business traction and supported our decision to raise guidance for the year 2026.”

Valens Semiconductor Logo


Q2 2026 Business Highlights:

  • Barco selected HDBaseT chipsets to power its new ClickShare USB-C Extension over CAT kit.
  • Participated at the InfoComm trade show, showcasing the VS3000 and the VS6320 chipsets, expanding engagements, and generating new sales opportunities.
  • Introduced a new reference design offering for USB3 and 4K video extension tailored to the needs of our leading ODM customers, driving millions of dollars in bookings.
  • Advanced all four Automotive design-win programs toward production, with revenue expected to ramp up in 2027.
  • Welcoming Karine Pinto-Flomenboim as the new Chief Financial Officer, effective August 9th, 2026, and Dean Martin as the new Head of Automotive Business Unit, effective on September 1st, 2026.


Q2 2026 Financial Highlights:

  • Q2 2026 revenue reached $18.1 million, exceeding our guidance of $17.2-$17.6 million, compared to $16.9 million in Q1 2026 and $17.1 million in Q2 2025.
    • Q2 2026 Cross-Industry Business (“CIB”) revenue accounted for approximately 70% of total revenue at $13.1 million compared to $11.0 million in Q1 2026 and $12.8 million in Q2 2025.
    • Q2 2026 Automotive revenue accounted for approximately 30% of total revenue at $5.0 million, compared to $5.9 million in Q1 2026 and $4.3 million in Q2 2025.
  • Q2 2026 GAAP gross margin was 61.5% (non-GAAP gross margin was 64.3%), in line with our guidance. This is compared to a GAAP gross margin of 62.2% for Q1 2026 and 63.5% for Q2 2025 (non-GAAP gross margin of 65.2% in Q1 2026 and 67.2% in Q2 2025). On a segment basis, Q2 gross margin from CIB was 69.2% and gross margin from Automotive was 41.5%. This compares to a Q1 2026 gross margin of 70.8% and 46.2%, respectively, and a Q2 2025 gross margin of 67.8% and 50.5%, respectively. The decrease in Q2 automotive gross margin compared to Q1 2026 was due to additional testing facility expenses incurred to prioritize and support production requirements.
  • Q2 2026 GAAP net loss amounted to $(8.1) million, compared to a net loss of $(8.3) million in Q1 2026 and a net loss of $(7.2) million in Q2 2025.
  • Q2 2026 adjusted EBITDA was a loss of $(4.2) million, lower than the guidance range of a $(4.9)-$(4.4) million adjusted EBITDA loss. This compares to an adjusted EBITDA loss of $(5.5) million in Q1 2026 and an adjusted EBITDA loss of $(4.0) million in Q2 2025.
  • Cash, cash equivalents and short-term deposits as of June 30, 2026, were $83.4 million. This compares to cash, cash equivalents and short-term deposits of $86.1 million as of March 31, 2026 and to cash, cash equivalents and short-term deposits of $92.6 million as of December 31, 2025.


Financial Outlook for Q3 2026 and Raised Full-Year Guidance

For Q3 2026, Valens Semiconductor expects revenue to range between $21.3 million and $21.7 million, gross margin to range between 60.0% and 62.0%, and adjusted EBITDA loss to range between $(3.4) million and $(2.8) million.

Based on its strong first-half 2026 performance and improved visibility for the remainder of the year, Valens has raised its full-year 2026 revenue guidance to between $78.0 million and $81.0 million, an increase of approximately 13% (midpoint of the guidance) compared to the annual revenue of 2025.

Disclaimer: Valens Semiconductor does not provide GAAP net profit (loss) guidance as certain elements of net profit (loss), including share-based compensation expenses and warrant valuations, are not predictable due to the high variability and difficulty of making accurate forecasts. Adjusted EBITDA is a non-GAAP measure. See the tables below for additional information regarding this and other non-GAAP metrics used in this release.


Conference Call Information

Valens will host a conference call and webinar at 8:30 a.m. Eastern Time to discuss its operational and financial results followed by a question-and-answer session for the investment community. Investors are invited to attend by registering in advance here. A replay of the webinar will also be available shortly after the call in the Investors section of Valens’ website for 90 days. If you wish to dial in, please use the following options: USA & Canada (Toll-Free): (888) 715-9871; United States (New York): (646) 307-1963; United Kingdom (Toll-Free): +44.800.260.6466; United Kingdom (London): +44.20.3481.4247; Israel (Tel Aviv): +972 3 376 1144; Conference ID: 1504681.


NYSE Rule 203.01 Annual Financial Report Announcement

Pursuant to Rule 203.01 of the New York Stock Exchange Manual, Valens Semiconductor Ltd. hereby announces to holders of its ordinary shares that its Annual Report on Form 20-F for 2025 (including its full year 2025 audited financial statements), filed with the U.S. Securities and Exchange Commission on February 25, 2026, is available in the investor relations section of its website at https://investors.valens.com/financials/secfilings/default.aspx. While the company encourages the sustainable approach of downloading and reading the report online, hard copies of the 2025 Annual Report will be provided free of charge, upon request, as follows: Valens Semiconductor Ltd., 8 Hanagar St. POB 7152, Hod Hasharon 4501309, Israel, or by emailing: [email protected].


Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are subject to a number of risks and uncertainties, including the cyclicality of the semiconductor industry; the effect of inflation and a rising interest rate environment on our customers and industry; the ability of our customers to absorb inventory; competition in the semiconductor industry, and the failure to introduce new technologies and products in a timely manner to compete successfully against competitors; if Valens fails to adjust its supply chain volume due to changing market conditions or fails to estimate its customers’ demand; disruptions in relationships with any one of Valens’ key customers or suppliers; any difficulty selling Valens’ products if customers do not design its products into their product offerings; our ability to effectively manage, invest in, grow, and retain our sales force, research and development capabilities, marketing team and other key personnel; our ability to timely adjust product prices to customers following price increase by the supply chain; our ability to adjust our inventory level due to reduction in demand due to inventory buffers accrued by customers; our expectations regarding the outcome of any future litigation in which we are named as a party; our ability to adequately protect and defend our intellectual property and other proprietary rights; risks related to our use of AI technologies; our ability to successfully integrate or otherwise achieve anticipated benefits from acquired businesses; the market price and trading volume of the Valens ordinary shares may be volatile and could decline significantly; further deterioration of macroeconomic conditions due to ongoing global political and economic uncertainty; political, economic, governmental and tax consequences, as well as geopolitical tensions, associated with our incorporation and location in Israel; and those factors discussed in Valens’ Form 20-F filed with the SEC on February 25, 2026 under the heading “Risk Factors,” and other documents of Valens filed, or to be filed, with the SEC. Except as required by law, we undertake no obligations to make any revisions to the forward-looking statements contained in this press release or to update them to reflect events or circumstances occurring after the date of this press release, whether as a result of new information, future developments or otherwise.


About Valens Semiconductor

Valens Semiconductor (NYSE: VLN) is a leading provider of high-performance connectivity chipsets that enable reliable, long-reach data transmission across the world’s most demanding applications. Valens’ chipsets are integrated into countless devices from leading customers, powering state-of-the-art audio-video installations, next-generation videoconferencing, Advanced Driver Assistance Systems and Software Defined Vehicles. Valens is a pioneer in connectivity technologies and a key contributor to leading industry standards, including HDBaseT® and MIPI A-PHY. For more information, visit www.valens.com

 


VALENS SEMICONDUCTOR LTD.


SUMMARY OF FINANCIAL RESULTS


(U.S. Dollars in thousands, except per share amounts)


Three Months Ended

June 30,

 


Six Months Ended 

June 30,


2026


2025


2026


2025

Revenues

18,105

17,059

34,964

33,887

Gross Profit

11,139

10,835

21,626

21,417

Gross Margin

61.5 %

63.5 %

61.9 %

63.2 %

Net Loss

(8,052)

(7,184)

(16,342)

(15,492)

Working Capital[1]

88,919

105,998

88,919

105,998

Cash, Cash Equivalents and Short-Term Deposits[2]

83,431

102,721

83,431

102,721

Net Cash Used in Operating Activities

(3,486)

(211)

(8,978)

(7,761)



Non-GAAP Financial Data

Non-GAAP Gross Margin[3]

64.3 %

67.2 %

64.8 %

67.0 %

Adjusted EBITDA Loss[4]

(4,227)

(4,016)

(9,693)

(8,362)

 

Non-GAAP Earnings Loss Per Share (in U.S. Dollars)[5] 

$(0.04)

$(0.04)

$(0.09)

$(0.07)

 


VALENS SEMICONDUCTOR LTD.


CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS


(U.S. Dollars in thousands, except share and per share amounts)

 

 


Three Months Ended     


June 30,

 


Six Months Ended  


June 30, 


2026


2025


2026


2025


REVENUES

18,105

17,059

34,964

33,887


COST OF REVENUES

(6,966)

(6,224)

(13,338)

(12,470)


GROSS PROFIT

 

11,139

 

10,835

 

21,626

 

21,417


OPERATING EXPENSES:

Research and development expenses

(10,076)

(10,198)

(20,370)

(20,788)

Sales and marketing expenses 

(5,011)

(5,166)

(10,407)

(10,773)

 

General and administrative expenses

 

(3,998)

 

(3,697)

 

(8,015)

 

(7,364)

 

Change in earnout liability

 

–

837

 

282

 

663


TOTAL OPERATING EXPENSES

 

(19,085)

 

(18,224)

 

(38,510)

 

(38,262)


OPERATING LOSS

(7,946)

(7,389)

(16,884)

(16,845)

Financial income (expenses), net

(79)

225

594

1,463


LOSS BEFORE INCOME TAXES

(8,025)

(7,164)

(16,290)

(15,382)


INCOME TAXES

(29)

(21)

(56)

(114)


LOSS AFTER INCOME TAXES

(8,054)

(7,185)

(16,346)

(15,496)

Equity in earnings of investee

2

1

4

4


NET LOSS


(8,052)


(7,184)


(16,342)


(15,492)

 


EARNINGS PER SHARE DATA:

 


BASIC AND DILUTED NET LOSS PER ORDINARY SHARE[6] (in
U.S. Dollars)


$(0.08)


$(0.07)


$(0.15)


$(0.15)


WEIGHTED AVERAGE NUMBER OF SHARES AND VESTED
RSUS USED IN COMPUTING NET LOSS PER ORDINARY
SHARE


107,236,802


103,551,779

 


106,142,089

 


104,403,869


Other comprehensive income (loss):


Change in unrealized gain (loss) on cash flow hedges


352


1,276


(12)


734


TOTAL COMPREHENSIVE LOSS


(7,700)


(5,908)


(16,354)


(14,758)

 


VALENS SEMICONDUCTOR LTD.


CONDENSED CONSOLIDATED BALANCE SHEETS


(U.S. Dollars in thousands)

 


ASSETS


June 30, 2026


December 31, 2025

 CURRENT ASSETS

Cash and cash equivalents

42,557

27,863

    Short-term deposits

40,874

64,733

Restricted Short-term deposit

1,120

1,132

    Trade accounts receivable

8,867

9,971

    Prepaid expenses and other current assets

4,106

4,842

    Inventories

12,513

10,117


TOTAL CURRENT ASSETS


110,037


118,658

 


LONG-TERM ASSETS

    Property and equipment, net

2,514

2,901

    Operating lease right-of-use assets

6,251

6,901

    Intangible assets

3,291

3,762

    Goodwill

1,847

1,847

    Other assets

686

632


TOTAL LONG-TERM ASSETS


14,589


16,043

 


TOTAL ASSETS


124,626


134,701

 


LIABILITIES AND SHAREHOLDERS’ EQUITY

 


TOTAL CURRENT LIABILITIES


21,118


22,934

 


LONG-TERM LIABILITIES

    Non-current operating leases liabilities

6,348

6,717

    Other long-term liabilities

106

67


TOTAL LONG-TERM LIABILITIES


6,454


6,784

 


TOTAL LIABILITIES


27,572


29,718


TOTAL SHAREHOLDERS’ EQUITY


97,054


104,983


TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY


124,626


134,701

 


VALENS SEMICONDUCTOR LTD.


CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


(U.S. Dollars in thousands)


Six Months Ended 

June 30,


2026


2025


CASH FLOW FROM OPERATING ACTIVITIES:


    Net loss for the period

(16,342)

(15,492)


    Adjustments to reconcile net loss to net cash used in operating activities:

    Income and expense items not involving cash flows:

Depreciation and amortization

1,227

1,528

Stock-based compensation 

6,246

7,941

Exchange rate differences

931

159

                  Realized and unrealized loss (gain) on non-designated derivative instruments

3

617

Interest on short-term deposits

91

771

Change in earnout liability

(282)

(663)

Reduction in the carrying amount of ROU assets

682

692

Equity in earnings of investee, net of dividend received

(4)

1


    Changes in operating assets and liabilities: 

Trade accounts receivable 

1,092

(382)

Prepaid expenses and other current assets

758

878

Inventories

(2,396)

(1,460)

Other assets 

(8)

(96)

Current Liabilities

(234)

(1,864)

Change in operating lease liabilities

(781)

(403)

Other long-term liabilities

39

12


    Net cash used in operating activities 


(8,978)


(7,761)

 


CASH FLOWS FROM INVESTING ACTIVITIES:

    Investment in short-term deposits

(19,162)

(52,505)

    Maturities of short-term deposits 

44,062

91,835

    Purchase of property and equipment

(302)

(537)

Derivative instruments of non-designated hedges

(3)

(672)


    Net cash provided by investing activities


24,595


38,121

 


CASH FLOWS FROM FINANCING ACTIVITIES:

Repurchase of Ordinary Shares

–

(19,761)

Earnout payment

(1,962)

–

    Exercise of stock options

2,179

385


    Net cash provided by (used in) financing activities


217


(19,376)


    Effect of exchange rate changes on cash and cash equivalents

(20)

182


INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED DEPOSIT

15,814

11,166


CASH AND CASH EQUIVALENTS AND RESTRICTED DEPOSIT AT THE BEGINNING OF THE
PERIOD

27,863

35,423


CASH AND CASH EQUIVALENTS AND RESTRICTED DEPOSIT AT THE END OF THE PERIOD


43,677


46,589


SUPPLEMENTAL CASH FLOW INFORMATION:

Cash and cash equivalent

42,557

46,589

Restricted Deposit

1,120

–

Total cash, cash equivalent and restricted deposit

43,677

46,589


SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:

Trade accounts payable on account of property and equipment

67

194

Operating lease liabilities arising from obtaining operating right-of-use assets and lease
modifications

 

32

 

494

 


VALENS SEMICONDUCTOR LTD.


RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES


(U.S. Dollars in thousands)

The following table provides a reconciliation of Net loss to Adjusted EBITDA, a non-GAAP measure. Adjusted EBITDA is defined as Net profit (loss) before financial income (expense), net, income taxes, equity in earnings of investee and depreciation and amortization, further adjusted to exclude share-based compensation and change in fair value of earnout liability, which may vary from period-to-period. We caution investors that amounts presented in accordance with our definition of Adjusted EBITDA may not be comparable to similar measures disclosed by other issuers, because not all issuers calculate Adjusted EBITDA in the same manner. Adjusted EBITDA should not be considered as an alternative to Net loss or any other performance measures derived in accordance with GAAP or as an alternative to cash flows from operating activities as a measure of our liquidity.

 

Although we provide guidance for Adjusted EBITDA, we are not able to provide guidance for projected Net profit (loss), the most directly comparable GAAP measures. Certain elements of Net profit (loss), including share-based compensation expenses and warrant valuations, are not predictable due to the high variability and difficulty of making accurate forecasts. As a result, it is impractical for us to provide guidance on Net profit (loss) or to reconcile our Adjusted EBITDA guidance without unreasonable efforts. Consequently, no disclosure of projected Net profit (loss) is included. For the same reasons, we are unable to address the probable significance of the unavailable information.


Three Months Ended


June 30,


Six Months Ended


June 30,


2026


2025


2026


2025


Net Loss


(8,052)


(7,184)

 


(16,342)


(15,492)


Adjusted to exclude the following:

Change in earnout liability

 

–

(837)

 

(282)

 

(663)

Financial expenses (income), net

 

79

 

(225)

 

 

(594)

 

 

(1,463)

Income taxes

 

29

 

21

 

 

56

 

 

114

Equity in earnings of investee

 

(2)

 

(1)

 

 

(4)

 

 

(4)

Certain batch production incident income

 

–

 

(323)

 

–

 

(323)

Depreciation and amortization

 

609

 

758

 

 

1,227

 

 

1,528

Stock-based compensation expenses

 


3,110

 


3,775

 

 


6,246

 

 


7,941


Adjusted EBITDA Loss

 


(4,227)

 


(4,016)

 


(9,693)

 

 


(8,362)

 


VALENS SEMICONDUCTOR LTD.


RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES


(U.S. Dollars in thousands, except per share amounts)

The following tables provide a calculation of the GAAP Loss per share and reconciliation to Non-GAAP Loss per share.


Three Months Ended


June 30,


Six Months Ended


June 30,


 GAAP Loss per Share


2026


2025


2026


2025


GAAP Net Loss used for computing Loss per Share


(8,052)


(7,184)

 


(16,342)

 


(15,492)

 



Earnings Per Share Data:


GAAP Loss per Share (in U.S. Dollars)


$(0.08)


$(0.07)

 


$(0.15)

 


$(0.15)


Weighted average number of shares and vested RSUs
used in computing net loss per ordinary share


107,236,802


103,551,779


106,142,089


104,403,869

 

 


Three Months Ended


June 30,

 

 


Six Months Ended
 June 30,



Non-GAAP Loss per Share




[7]


2026


2025


2026


2025

GAAP Net Loss

(8,052)

(7,184)

 

(16,342)

 

(15,492)

Adjusted to exclude the following:

 

Stock based compensation

3,110

3,775

 

6,246

 

7,941

Depreciation and amortization

609

758

1,227

 

1,528

Certain batch production incident income

–

(323)

–

(323)

Change in earnout liability

–

(837)

 

(282)

 

(663)


Total Non-GAAP Loss used for computing Loss per
Share


(4,333)


(3,811)

 


(9,151)

 


(7,009)

 



Earnings Per Share Data:


Non-GAAP Loss per Share (in U.S. Dollars)


$(0.04)


$(0.04)

 


$(0.09)

 


$(0.07)


Weighted average number of shares and vested RSUs
used in computing net loss per ordinary share


107,236,802


103,551,779


106,142,089


104,403,869

 


[1]
 Working Capital is calculated as Total Current Assets, less Total Current Liabilities, as of the last day of the period.
[2] As of the last day of the period.
[3] GAAP Gross Profit excluding share-based compensation and depreciation expenses, divided by revenue. For the three months ended June 30, 2026, and 2025, share-based compensation and depreciation & amortization expenses were $507 thousand and $630 thousand, respectively. For the six months ended June 30, 2026, and 2025, share-based compensation and depreciation expenses were $1,015 thousand and $1,280 thousand, respectively.
[4]Adjusted EBITDA is defined as Net profit (loss) before financial income (expense), net, income taxes, equity in earnings of investee and depreciation and amortization, further adjusted to exclude share-based compensation and change in fair value earnout liability, which may vary from period-to-period, and certainbatch production incident income. We caution investors that amounts presented in accordance with our definition of Adjusted EBITDA may not be comparable to similar measures disclosed by other issuers, because not all issuers calculate Adjusted EBITDA in the same manner. Adjusted EBITDA should not be considered as an alternative to Net loss or any other performance measures derived in accordance with GAAP or as an alternative to cash flows from operating activities as a measure of our liquidity. Please refer to the appendix at the end of this press release for a reconciliation to the most directly comparable measure in accordance with GAAP.
[5] See reconciliation of GAAP to non-GAAP financial measures.
[6] See note 5. 
[7]The company calculates its non-GAAP Loss per Share as GAAP Net Loss adjusted to exclude the following: Stock based compensation, depreciationand amortization, and the change in fair value of Forfeiture Share and earnout liability, divided by the weighted average number of shares used in calculation of net loss per share.


For more information, please contact:

Investor Contact:
Michal Ben Ari: [email protected]

Media Contact:
Yoni Dayan: [email protected]

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SOURCE Valens Semiconductor

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VIAVI Introduces Industry’s First Channel Emulator for 6G and Wi-Fi 7/8

PR Newswire

New Vertex 6.0 recreates real-world wireless conditions in the lab for complex cellular, Wi-Fi, military and aerospace RF technologies

CHANDLER, Ariz., Aug. 12, 2026 /PRNewswire/ — VIAVI Solutions Inc. (VIAVI) (NASDAQ: VIAV) has announced the latest, enhanced version of the Vertex channel emulation platform. With 400 MHz instantaneous bandwidth and support for carrier frequencies up to 23.6 GHz, Vertex 6.0 is the industry’s first channel emulator designed for next generation 6G and Wi‑Fi 7/8 testing, natively supporting newly defined 6G waveform requirements and surpassing Wi‑Fi 7/8 bandwidth requirements.

Vertex 6.0

Vertex 6.0 extends VIAVI’s wireless portfolio by bringing real-world RF propagation into the lab, complementing the industry-leading TM500 network emulation platform and TeraVM application and security validation solutions. It is the first Vertex upgrade following VIAVI’s acquisition of Spirent Communications plc’s high-speed Ethernet, network security and channel emulation testing business.

Available in field-replaceable RF modules that integrate seamlessly into an existing 6U Vertex chassis, Vertex 6.0 builds on the 5G FR1/FR2 capabilities of the previous generation and now includes emulation for complex cellular, Wi-Fi, military and aerospace RF technologies. Combined with the VIAVI FR3 MIMO converter and raytracing with Integrated Sensing and Communication (ISAC), the platform acts as a digital twin for RF propagation for use cases including FR3, Wi-Fi 7, AI-RAN and ISAC.

“As wireless technologies become more complex, late-stage issues can present significant risks. Engineers need test environments that can accurately replicate real-world conditions and validate performance from the earliest stages of development,” said Ian Langley, Senior Vice President, Wireless, Security and Applications Business Unit, VIAVI. “Vertex has been the platform of choice for the world’s leading chipset, device and network equipment manufacturers for over a decade, and Vertex 6.0 brings the next leap in capabilities that address the requirements of complex cellular, Wi-Fi and other specialized topologies.”

Each 6U Vertex chassis supports 36 RF ports, 256 digital links and up to 1.6 GHz of bandwidth. For cellular technologies, the platform supports FR3 bands with up to 1 GHz of bandwidth to meet the increased requirements of 6G networks. This includes multiuser (MU) MIMO with phase alignment and support for both TDD and FDD modes.

For Wi-Fi 7/8, it includes native support for 320 MHz and 4096 QAM, supporting 2×2 up to 8×8 configurations. The channel emulator also includes a wide range of modes for land-to-land, land-to-air and air-to-air transmissions, including for anechoic and reverberation OTA chambers, as well as for NTN (LEO, MEO and GEO), mesh, drone and ISAC networks.

About VIAVI
VIAVI (NASDAQ: VIAV) is a global leader in test and measurement and optical technologies. Our test and measurement and resilient position, navigation and timing solutions enable and secure critical infrastructure ranging from data center ecosystems and communication networks to military, aerospace, railway and first responder communications. In addition, we develop and advance technologies used in high-volume optical applications across anti-counterfeiting, consumer electronics, aerospace, industrial and automotive end markets.

Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn and YouTube.

Media Inquiries:
Grand Bridges
Emma Jenkins 
[email protected]
+1 415 800 4529

VIAVI Solutions

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SOURCE VIAVI Solutions

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Bio-Techne Declares Dividend

PR Newswire

MINNEAPOLIS, Aug. 12, 2026 /PRNewswire/ — Bio-Techne Corporation (NASDAQ: TECH) announced that its Board of Directors has decided to pay a dividend of $0.08 per share for the quarter ended June 30, 2026. The quarterly dividend will be payable August 28, 2026, to all common shareholders of record on August 17, 2026. Future cash dividends will be considered by the Board of Directors on a quarterly basis.

Bio–Techne Corporation (NASDAQ: TECH) is a global life sciences company headquartered in Minnesota, celebrating 50 years of empowering scientific and diagnostic communities to reach better answers. The company provides high–quality reagents, analytical instruments, and precision diagnostics. Its portfolio is organized into three customer–focused brands: R&D Systems™, Bio–Techne Spatial™, and Bio–Techne Diagnostics™, reflecting the scientific journey from discovery to translational research to clinical decision–making. Bio–Techne operates in 34 locations worldwide and employs approximately 3,000 people. In fiscal year 2026, the company generated over $1.2 billion in net sales. Its more than 500,000 products are used globally by academic researchers, biopharmaceutical and biotechnology companies, and clinical diagnostic laboratories. For more information on Bio-Techne and its brands, please visit www.bio-techne.com or follow the company on social media at LinkedIn, X, or YouTube. 

Forward Looking Statements:
Our press releases may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements involve risks and uncertainties that may affect the actual results of operations. Forward looking statements in this press release include statements regarding potential future repurchase of Bio-Techne common stock. The following important factors, among others, have affected and, in the future, could affect the Company’s actual results and future share price: the effect of new branding and marketing initiatives, the integration of new businesses and leadership, the introduction and acceptance of new products, the funding and focus of the types of research by the Company’s customers, the impact of the growing number of producers of biotechnology research products and related price competition, general economic conditions, customer site closures or supply chain issues, the impact of currency exchange rate fluctuations, and the costs and results of research and product development efforts of the Company and of companies in which the Company has invested or with which it has formed strategic relationships.

For additional information concerning such factors, see the section titled “Risk Factors” in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements we make in our press releases due to new information or future events. Investors are cautioned not to place undue emphasis on these statements.

Contact: 

David Clair, Vice President, Investor Relations


[email protected]

612-656-4416

Bio-Techne

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ITURAN PRESENTS SECOND QUARTER 2026 RESULTS

PR Newswire


Record revenue of $104.8 million, up 21%, with subscription revenue up 25% year-over-year;


EBITDA up 24% to a record $28.5 million

AZOUR, Israel, Aug. 12, 2026 /PRNewswire/ — Ituran Location and Control Ltd. (NASDAQ: ITRN) today announced its consolidated financial results for the second quarter, ended June 30, 2026.

Ituran Logo

Highlights of the Second Quarter of 2026

  • Added 41,000 net subscribers in the quarter, bringing the total subscriber base to 2,711,000.
  • Record quarterly revenue of $104.8 million, a 21% increase year-over-year.
  • Net income of $17.3 million, a 29% increase year-over-year.
  • EBITDA grew to $28.5 million, a 24% increase year-over-year.
  • Record quarterly cash flow from operations of $32.2 million;
  • The Board declared a quarterly dividend of $10 million, or $0.50 per share.

Management Comment

Eyal Sheratzky, Co-CEO of Ituran said, “The second quarter was an excellent quarter for Ituran. Revenue reached a record $104.8 million, a 21% increase year-over-year with our recurring subscription revenue growing by 25% year-over-year. Furthermore, our operating income, EBITDA and net income each grew faster than our revenue, demonstrating the operating leverage in our business model.”

Mr. Sheratzky continued, “Our growth remains broad-based across Israel and Latin America, supported by our OEM partnerships and by newer segments. Alongside the core business, our growth initiatives continue to mature. IturanMob, our car rental solution, has expanded into the United States and was recognized during the quarter with a Global Tech Insider award, our Credit Carbon initiative continues to advance, and our Big Data capabilities are gaining commercial traction. We remain confident in our ability to deliver continued growth and profitability throughout 2026.”

Second Quarter 2026 Results

Revenues for the quarter were a record $104.8 million, a 21% increase compared with $86.8 million in the second quarter of last year.

76% of revenues were from location-based service subscription fees, and 24% were from product revenues.

Revenues from subscription fees for the quarter were $79.8 million, an increase of 25% over the second quarter of last year.

The subscriber base expanded to 2,711,000 by the end of June 2026, marking a quarterly net increase of 41,000 and a year-over-year increase of 163,000.

Subscriber growth in the quarter continued to be driven by organic demand across our core stolen vehicle recovery and telematics businesses in Israel and Latin America, together with the ongoing contribution from our OEM programs.

Product revenues for the quarter were $25.0 million, an 8% increase year-over-year.

Gross profit for the quarter was $53.4 million (50.9% of revenues), a 24% increase compared with $42.9 million (49.5% of revenues) in the second quarter of last year.

Gross margin on subscription revenues improved to 58.8%, compared to 57.9% in Q2 last year. The gross margin on product revenues was 25.7%, compared to 26.0% last year. The variance in the product gross margin between quarters was due to the change in the product mix sold.

Operating income for the quarter was $23.8 million (22.7% of revenues), representing a 30% increase compared to $18.3 million (21.1% of revenues) in Q2 last year.

EBITDA for the quarter was $28.5 million (27.2% of revenues), up 24% from $22.9 million (26.4% of revenues) in the second quarter of last year.

Finance expenses for the quarter were $1.3 million, similar to finance expenses of $1.3 million in the second quarter of last year. The high level of financial expenses in the quarter was primarily due to the strength of the Israeli Shekel against the US Dollar, which lowered the value of US Dollar linked deposits held in Israel.

Net income for the second quarter of 2026 was $17.3 million (16.5% of revenues), or diluted earnings per share of $0.88, an increase of 29% compared to $13.5 million (15.5% of revenues), or $0.68 per diluted share, in the second quarter of last year.

Cash flow from operations for the quarter was $32.2 million.

On the balance sheet, as of June 30, 2026, the Company had net cash, including marketable securities, of $103.7 million, which includes no debt. This is compared with net cash, including marketable securities, of $107.6 million, as of year-end last year.

Dividend

The Board of Directors declared a dividend of $10 million for the quarter, or $0.50 per share. The current dividend takes into account the Company’s continuing strong profitability, ongoing positive cash flow, and strong balance sheet.

Buy Back

During the quarter $3.0 million in shares were purchased under the Company’s share buy-back program. The total remaining authorization is approximately $10 million. Share repurchases will be funded by available cash and will be made in accordance with SEC Rule 10b-18.

Conference Call Information

The Company will also be hosting a video conference call via the Zoom platform later today, Wednesday, August 12, 2026 at 9am Eastern Time and 4pm Israel Time.

On the call, management will review and discuss the results and will be available to answer investor questions.

To participate in the Zoom call, please register at the following link:
https://us06web.zoom.us/webinar/register/WN_mE4jXN-IS0ufW5K5ZyeaUg

For those unable to listen to the live call, a replay of the call will be available from the day after the call in the investor relations section of Ituran’s website.

Certain statements in this press release are “forward-looking statements” within the meaning of the Securities Act of 1933, as amended. These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to, but not limited to, changes in global political, economic, business, competitive, market and regulatory factors. Forward-looking statements are not guarantees of future performance, and involve risks, uncertainties and assumptions that may cause our actual results to differ materially from the expectations that we describe in our forward-looking statements. We disclaim any obligation to update forward-looking statements, even if our assumptions and projections change, except where applicable law may otherwise require us to do so.

About Ituran

Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management and control services for vehicles, cargo and personal security for the retail, insurance, financing industries and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel Aviv-based DRIVE startup incubator to promote the development of smart mobility technology.

Ituran’s subscriber base has been growing significantly since the Company’s inception to over 2.7 million subscribers using its location-based services with a market-leading position in Israel and Latin America. Established in 1995, Ituran has approximately 2,800 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Colombia, India, Canada and the United States.

For more information, please visit Ituran’s website, at: www.ituran.com.

Logo: https://mma.prnewswire.com/media/1972820/Ituran_logo.jpg

Company Contact

Udi Mizrahi
[email protected] 
Deputy CEO & VP Finance, Ituran
(Israel) +972 3 557 1348 

International Investor Relations 

Ehud Helft 
[email protected] 
EK Global Investor Relations
(US) +1 212 378 8040

 

 

 


ITURAN LOCATION AND CONTROL LTD.


CONDENSED CONSOLIDATED BALANCE SHEETS


US dollars


June 30,


December 31,


(In thousands)


2026


2025


(unaudited)


Current assets

 

Cash and cash equivalents

103,700

107,551

Investments in marketable securities

3

3

Accounts receivable (net of provision for credit loss)

66,527

58,517

Other current assets

53,027

48,360

Inventories

24,974

23,213

248,231

237,644


Long-term investments and other assets

Investments in affiliated companies

503

517

Investments in other companies

1,874

1,542

Other non-current assets

5,695

5,413

Deferred income taxes

18,489

15,684

Funds in respect of employee rights upon retirement

33,027

28,480

59,588

51,636


Property and equipment, net

42,915

39,386


Operating lease right-of-use assets, net

8,004

8,878


Intangible assets, net

9,563

8,839


Goodwill 

40,119

39,831


Total assets


408,420


386,214

 

 

 


ITURAN LOCATION AND CONTROL LTD.


CONDENSED CONSOLIDATED BALANCE SHEETS (cont.)


US dollars


June 30,


December 31,


(In thousands)


2026


2025


(unaudited)


Current liabilities

 

Accounts payable 

25,725

19,082

Deferred revenues

29,427

27,206

Other current liabilities

67,211

57,817

122,363

104,105


Long-term liabilities

Liability for employee rights upon retirement

39,839

35,080

Deferred income taxes

751

531

Deferred revenues

14,513

14,876

Operating lease liabilities, non-current

4,156

4,745

Other non-current liabilities

1,259

2,391

60,518

57,623


Stockholders’ equity

218,372

217,564


Non-controlling interests

7,167

6,922


Total equity

225,539

224,486


Total liabilities and equity


408,420


386,214

 

 

 


ITURAN LOCATION AND CONTROL LTD.

 


CONDENSED CONSOLIDATED STATEMENTS OF INCOME


US dollars


Six months period
ended June 30,


Three months period
ended June 30,


(in thousands, except per share data)


2026


2025


2026


2025

 


Revenues:

Telematics services


(unaudited)

 


(unaudited)

 

155,224

125,936

79,824

63,756

Telematics products

52,230

47,312

24,964

23,037

207,454

173,248

104,788

86,793

 


Cost of revenues:

Telematics services

63,949

52,734

32,887

26,835

Telematics products

40,711

35,574

18,551

17,037

104,660

88,308

51,438

43,872

 

 

Gross profit

102,794

84,940

53,350

42,921

Research and development expenses

10,555

9,920

5,538

5,058

Selling and marketing expenses

10,754

8,634

5,521

4,375

General and administrative expenses

35,848

29,369

18,533

15,131

Other expenses (income), net

(180)

27

–

21

Operating income

45,817

36,990

23,758

18,336

Financing expenses, net

(740)

(782)

(1,327)

(1,328)

Income before income tax

45,077

36,208

22,431

17,008

Income tax expenses

(10,159)

(7,329)

(4,592)

(3,263)

Share in profit (losses) of affiliated companies, net

(59)

(18)

(14)

16

Net income for the period

34,859

28,861

17,825

13,761

Less: net income attributable to non-controlling interest

(758)

(816)

(498)

(308)

Net income attributable to the company

34,101

28,045

17,327

13,453

Basic and diluted earnings per share attributable to
     Company’s stockholders

1.72

1.41

0.88

0.67

Basic and diluted weighted average number of shares
     outstanding (in thousands

19,802

19,894

19,773

19,894

 

 

 


ITURAN LOCATION AND CONTROL LTD.


CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


US dollars


Six months period
ended June 30,


Three months period
ended June 30,


(in thousands)


2026


2025


2026


2025


(unaudited)


(unaudited)


Cash flows from operating activities

Net income for the period

34,859

28,861

17,825

13,761


Adjustments to reconcile net income to net cash from operating
    activities:

Depreciation and amortization

9,299

9,230

4,652

4,602

Loss in respect of trading marketable securities and other investments

–

8

–

–

Increase in liability for employee rights upon retirement

2,343

1,622

1,235

591

Share in losses (profit) of affiliated companies, net

59

18

14

(16)

Deferred income taxes

(2,255)

(387)

(1,042)

(302)

Capital loss on sale of property and equipment, net

124

89

180

58

Decrease (increase) in accounts receivable

(4,638)

(7,691)

4,233

(1,127)

Decrease in other current and non-current assets

188

4,800

1,706

4,822

Decrease (increase) in inventories

(655)

(58)

(3,160)

72

Increase (decrease) in accounts payable

5,477

(124)

3,173

(393)

Increase (decrease) in deferred revenues

833

1,354

(996)

607

Increase (decrease) in other current and non-current liabilities

4,834

163

4,399

(249)

Net cash provided by operating activities

50,468

37,885

32,219

22,426


Cash flows from investment activities

Increase in funds in respect of employee rights upon retirement,
     net of withdrawals

(2,476)

(852)

(1,324)

(560)

Capital expenditures

(11,937)

(11,874)

(6,634)

(5,264)

Investments in affiliated and other companies, net

(172)

(110)

(124)

(106)

Repayment of (investment in) long-term deposit

(123)

(23)

(109)

61

Proceeds from sale of property and equipment

717

454

424

154

Net cash used in investment activities

(13,991)

(12,405)

(7,767)

(5,715)


Cash flows from financing activities

Short term credit from banking institutions, net

–

(114)

–

–

Acquisition of company shares

(3,579)

–

(3,048)

–

Dividend paid

(39,761)

(17,705)

(29,840)

(9,947)

Dividend paid to non-controlling interests

(1,913)

(1,677)

–

–

Net cash used in financing activities

(45,253)

(19,496)

(32,888)

(9,947)

Effect of exchange rate changes on cash and cash equivalents

4,925

5,394

4,167

6,288

Net change in cash and cash equivalents

(3,851)

11,378

(4,269)

13,052

Balance of cash and cash equivalents at beginning of period

107,551

77,357

107,969

75,683

Balance of cash and cash equivalents at end of period

103,700

88,735

103,700

88,735

 


Supplementary information on financing activities not involving cash flows:

 In May 2026, the Company declared a dividend in an amount of US$10 million. The dividend was paid in July 2026.

 

 

 

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SOURCE Ituran Location and Control Ltd.

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Lockheed Martin, Verizon, Keysight, ODC and Astris AI Demonstrate Technology for Public Airspace Protection with NVIDIA Technology

PR Newswire

NetSense™ system combines 5G, commercial technology and AI to detect Unmanned Aerial Systems

BETHESDA, Md., Aug. 12, 2026 /PRNewswire/ — Lockheed Martin (NYSE: LMT), in collaboration with Verizon, NVIDIA, Keysight Technologies, ODC and Astris AI, recently showcased how commercial off-the-shelf (COTS) technologies can make detecting and tracking unmanned aircraft systems (UAS) more accessible, faster to deploy, and easier to scale for public and critical infrastructure protection. 

NetSense™ system combines AI, 5G and commercial tech to detect Unmanned Aerial Systems during a July demonstration in the Miami area.

In a July demonstration in the Miami area, the NetSense™ Airspace Awareness-as-a-Service™ system demonstrated an AI-enabled system capable of identifying, tracking and monitoring UAS utilizing existing 5G networks.

The technology has broad commercial applications across critical infrastructure, large-scale events at stadiums, utilities like power plants, and the everyday places people depend on, like schools, hospitals and airports. City, state and federal government customers can also gain proactive monitoring and alerts from the NetSense solution. 

THE BIG PICTURE 

As drones become more affordable, capable and widely available, the need for persistent, intelligent airspace awareness to protect the public grows. By leveraging existing technology, the NetSense solution can help protect people and critical infrastructure across a wide range of environments.

The successful live demonstration took place in a critical, high-traffic, urban area important for American protection, showcasing NetSense’s components, capabilities, and UAS detection and alert systems in real-time. Leveraging an existing Verizon 5G network spectrum, ODC’s AI-native Radio Access Network (RAN) software, NVIDIA’s AI Aerial platform, and Keysight’s advanced radio frequency (RF) simulation platform, NetSense detected and alerted the team to the presence of drones and maintained track custody through the flight.

HOW IT WORKS 

The NetSense solution combines Lockheed Martin’s warning and tracking systems, which work together using AI to read RF disturbances, predict and track a UAS’s flight path and automatically send real-time alerts.  

The NetSense solution revolutionizes airspace awareness through:

  • AI-native sensing: Uses NVIDIA AI Aerial to analyze RF signal disturbances in real time and feed them to Lockheed Martin’s NetSense algorithms.
  • Speed and agility: Can be procured and deployed faster than traditional or custom-built systems leveraging COTS.
  • Innovation and cost-effectiveness: The competitive commercial market can drive down costs and foster innovation.
  • Integration potential: Open architecture commercial systems let new interceptors and technologies be added to existing platforms without the need for entirely new hardware.
  • Scalability: The solution can grow from protecting a single critical site to supporting a mobile command and control system for larger operations.
  • Open architecture design: Makes continuous enhancements of the offering possible, including deployment of existing Lockheed Martin capabilities for improved data interpretation and target classification.

The demonstration proved the NetSense system can sense UAS without changing existing cellular radio deployments. This approach means at-scale, cost-effective sensing is available without recapitalization of cellular infrastructure, ahead of the timeline for 6G Integrated Sensing and Communication (ISAC). 

The NetSense system and its algorithms are also complementary to 6G ISAC and can enhance those systems when they are available. The NetSense system currently leverages Verizon’s 5G network spectrum, with a roadmap toward broader deployment across 5G and future 6G networks.

NEXT STEPS 

The NetSense system will be delivered as a subscription that interfaces with customer’s existing security operations. Pilot deployments are planned for the second half of 2026 and early 2027, with commercial general availability planned for 2027. Early deployments will be limited to select customers that urgently need the capability. Interested organizations can contact Astris AI, Lockheed Martin’s wholly owned subsidiary: https://astrisai.com/request-a-briefing.

 EXPERT PERSPECTIVES 

“As drones become more affordable and accessible, airspace awareness technology needs to evolve rapidly to outpace potential threats. That’s why we developed the NetSense solution,” said Sarah Hiza, senior vice president, Technology and Strategic Innovation at Lockheed Martin. “By working within the established 5G network spectrum, we’re able to collaborate with the commercial technology industry and deploy a solution that’s ready at the time of need.”

“By applying AI to the RF signal measurement data already traversing our 5G infrastructure, we can effectively turn our network into an intelligent sensing platform,” said Anil Guntupali, senior vice president of Technology and Product Development at Verizon. “By collaborating with Lockheed Martin to apply intelligence to our existing 5G spectrum, we’re proving that the most complex security problems often have an answer embedded in the network.”

“The NetSense system demonstrates how AI can transform existing telecommunications infrastructure into a real-time sensing platform,” said Ronnie Vasishta, senior vice president of telecoms at NVIDIA. “NVIDIA AI Aerial and AI-RAN turn existing 5G infrastructure into an AI-powered sensing platform, bringing the power of AI and accelerated computing to the network edge, so RF signal disturbances can be analyzed instantaneously, enabling faster detection, more accurate classification and immediate alerts for public safety and critical infrastructure protection.”

“By providing RF modeling, simulation, digital twin, emulation and test capabilities across the full engineering workflow, we are helping customers prove out feasibility, reduce complexity, and bring mission-critical technologies to market faster,” said Kailash Narayanan, senior vice president of Communications Solutions Group, Keysight.” This collaboration reflects Keysight’s commitment to enabling the next generation of defense innovation with trusted design, simulation, emulation, and test solutions.”

“This strategic collaboration marks a decisive milestone in the evolution of joint Counter-UAS and layered homeland air defense for low-flying objects,” said Shaygan Kheradpir, chairman of the ODC board of directors. “By leveraging our AI-Native, Zero Trust AI-RAN platform, ODC enables true Integrated Sensing and Communications (ISAC) via a standards-compliant commercial architecture — turning everyday mobile network infrastructure into an intelligent, wide-area sensor fabric that detects, tracks and identifies low-altitude threats at the forward edge via applications such as NetSense.”

About Lockheed Martin

Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to keep those we serve ahead of ready. More information at www.lockheedmartin.com.  

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $138.2 billion in 2025. Verizon’s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores. 

About Keysight

At Keysight (NYSE: KEYS), we inspire and empower innovators to bring world-changing technologies to life. As an S&P 500 company, we’re delivering market-leading design, emulation, and test solutions to help engineers develop and deploy faster, with less risk, throughout the entire product life cycle. We’re a global innovation partner enabling customers in communications, industrial automation, aerospace and defense, automotive, semiconductor, and general electronics markets to accelerate innovation to connect and secure the world. Learn more at Keysight Newsroom and www.keysight.com.

About ODC

ODC is a leader in AI-Native Radio Access Network (“AI-RAN”) technology and the architect of the U.S.-based Odyssey software platform. By integrating advanced AI sensing and inference into the RAN, ODC enables telecommunications providers to unlock new revenue streams and mission-critical capabilities across the industrial, commercial, and public sectors. More information at www.orandevco.com. 

About Astris AI

Astris AI, a subsidiary of Lockheed Martin, is committed to enabling the adoption of AI solutions across the U.S. defense industrial base and other industries seeking high assurance solutions. Astris AI provides customers access to foundational AI tools, processes and talent to enable the deployment of secure AI solutions at scale, ensuring they stay ahead of rapid technological advancements. Astris AI is part of the Lockheed Martin Evolve portfolio, an organization that creates and scales new commercial and non-traditional businesses to bolster the defense industrial base. Astris AI is the commercial home of NetSense™ Airspace Awareness-as-a-Service™. Visit AstrisAI.com to learn more.

Lockheed Martin Logo. (PRNewsFoto/Lockheed Martin)

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Bio-Techne Releases Fourth Quarter Fiscal 2026 Results

PR Newswire

MINNEAPOLIS, Aug. 12, 2026 /PRNewswire/ — Bio-Techne Corporation (NASDAQ: TECH) today reported its financial results for the fourth quarter ending June 30, 2026.

Fourth Quarter FY2026 Highlights

  • Fourth quarter organic revenue increased by 3% (1% reported) to $321.2 million. Full year organic and reported revenue remained flat at $1.2 billion.
  • GAAP EPS increased to $0.35 from $(0.11) one year ago. Delivered adjusted EPS was $0.52, down from $0.53 one year ago. Full year GAAP EPS increased to $1.16 versus $0.46 one year ago. Full year adjusted EPS was $1.93, up from $1.92 one year ago.
  • As previously announced on June 25, 2026, Bio-Techne entered into an agreement to be acquired by Merck KGaA, Darmstadt, Germany for $73 per share in cash, representing a total enterprise value of approximately $11.3 billion.

“Bio-Techne ended fiscal 2026 with improved performance and solid execution across the business, reflecting the value our differentiated solutions bring across biopharma, research and diagnostic workflows,” said Kim Kelderman, President and Chief Executive Officer of Bio-Techne. “We continue to make progress toward completing Bio-Techne’s acquisition by Merck KGaA, Darmstadt, Germany, and look forward to the opportunities this transaction is expected to create for our customers and employees.”

Conference Call

In light of the announced transaction with Merck KGaA, Darmstadt, Germany, Bio-Techne is no longer holding investor conference calls for quarterly results.

Fourth Quarter Fiscal 2026

Revenue

Net sales for the fourth quarter increased 1% to $321.2 million. Organic growth increased 3% compared to the prior year. Non-recurring prior year revenue from a business held-for-sale had an unfavorable impact of 2% and foreign currency exchange did not have a material impact.

GAAP Earnings Results

GAAP EPS was $0.35 per diluted share versus $(0.11) in the same quarter last year. GAAP operating income for the fourth quarter of fiscal 2026 was $74.3 million compared to an operating loss of $23.9 million in the fourth quarter of fiscal 2025. GAAP operating margin was 23.1% compared to (7.5)% in the fourth quarter of fiscal 2025. Current quarter GAAP operating margin was favorably impacted by a non-recurring impairment charge in the prior year.

Non-GAAP Earnings Results

Adjusted EPS decreased to $0.52 per diluted share compared to $0.53 in the same quarter last year. Adjusted operating income increased to $103.4 million in the fourth quarter of fiscal 2026 compared to $101.3 million in the fourth quarter of fiscal 2025. Adjusted operating margin was 32.2% for the fourth quarter of fiscal 2026 compared to 32.0% in the fourth quarter of fiscal 2025. Adjusted operating margin was favorably impacted by profitability initiatives and the Exosome Diagnostics divestiture, partially offset by unfavorable product mix.

Full Year Fiscal 2026

Revenue

Net sales for the full year fiscal 2026 remained flat from the prior year at $1.2 billion. Organic revenue remained flat from the prior year. Foreign currency exchange had a favorable impact of 2% and a business held-for-sale had an unfavorable impact of 2%.

GAAP Earnings Results

GAAP EPS was $1.16 per diluted share, compared to $0.46 last fiscal year. GAAP operating income for full year fiscal 2026 increased 146% to $251.9 million, compared to $102.3 million in the full year fiscal 2025. GAAP operating margin was 20.7% compared to 8.4% in the full year fiscal 2025. GAAP operating margin was favorably impacted by a non-recurring impairment charge in the prior year, a non-recurring arbitration award in the prior year, and a recovery of assets held-for-sale.

Non-GAAP Earnings Results

Adjusted EPS increased to $1.93 per diluted share, compared to $1.92 last fiscal year. Adjusted operating income for fiscal 2026 increased 1% to $386.1 million, compared to $383.6 million for fiscal 2025. Adjusted operating margin was favorably impacted by profitability initiatives and the Exosome Diagnostics divestiture.

Segment Results

Management uses adjusted operating results to monitor and evaluate performance of the Company’s business segments, as highlighted below.

Protein Sciences Segment

The Company’s Protein Sciences segment is one of the world’s leading suppliers of specialized proteins such as cytokines and growth factors, immunoassays, antibodies and reagents, to the biopharma and academic research communities. Additionally, the segment provides an array of platforms essential in various areas of protein analysis. The Protein Sciences segment’s fourth quarter fiscal 2026 net sales were $231.2 million, an increase of 2% from $226.5 million in the fourth quarter of fiscal 2025. As of December 31, 2023, a business within the Protein Sciences segment met the criteria as held-for-sale; this held-for-sale business has been excluded from the segment’s operating results for both periods presented. Organic revenue increased 1% for the fourth quarter of fiscal 2026, with foreign currency exchange having a favorable impact of 1%. The Protein Sciences segment’s operating margin decreased to 42.0% in the fourth quarter of fiscal 2026 compared to 43.6% in the fourth quarter of fiscal 2025. The segment’s operating margin decreased primarily due to unfavorable volume and product mix.

Protein Sciences segment’s full year fiscal 2026 net sales were $874.6 million, an increase of 1% from $870.2 million for full year fiscal 2025. Organic revenue for the segment decreased 1% for the fiscal year, with foreign currency exchange having a favorable impact of 2%. Protein Sciences segment’s operating margin was 41.1% in fiscal 2026 compared to 42.6% in fiscal 2025. The segment’s operating margin was impacted by unfavorable volume and product mix.

Diagnostics and Spatial Biology Segment

The Company’s Diagnostics and Spatial Biology segment develops and provides spatial biology products, carrier screening and oncology kits. The Diagnostics and Spatial Biology segment also provides blood chemistry and blood gas quality controls, hematology instrument controls, immunoassays and other bulk and custom reagents for the in vitro diagnostic market. The Diagnostics and Spatial Biology segment’s fourth quarter fiscal 2026 net sales remained flat at $90.1 million, as compared to $89.7 million in the fourth quarter of fiscal 2025. As of June 30, 2025, a business within the Diagnostics and Spatial Biology segment met the criteria as held-for-sale; this held-for-sale business has been excluded from the segment’s fiscal 2026 operating results. Organic revenue increased 8% for the fourth quarter of fiscal 2026, with foreign exchange not having a material impact. The held-for-sale business had an unfavorable impact of 8%. The Diagnostics and Spatial Biology segment’s operating margin increased to 11.2% in the fourth quarter of fiscal 2026 compared to 6.0% in the fourth quarter of fiscal 2025. The segment’s operating margin was favorably impacted by the Exosome Diagnostics divestiture, favorable volume growth, and ongoing profitability initiatives.

The Diagnostics and Spatial Biology segment’s full year fiscal 2026 net sales were $336.4 million, a decrease of 3% from $346.3 million for the full year fiscal 2025. Organic growth for the segment was 4%, with foreign currency exchange having a favorable impact of 1%. A business held-for-sale had an unfavorable impact of 8%. The Diagnostics and Spatial Biology segment’s operating margin was 11.2% in fiscal 2026 compared to 6.2% in fiscal 2025. The segment’s operating margin was impacted by the divestiture of Exosome Diagnostics, favorable volume growth, and ongoing profitability initiatives.

About Bio-Techne

Bio‑Techne Corporation (NASDAQ: TECH) is a global life sciences company headquartered in Minnesota, celebrating 50 years of empowering scientific and diagnostic communities to reach better answers. The company provides high‑quality reagents, analytical instruments, and precision diagnostics.  Its portfolio is organized into three customer‑focused brands: R&D Systems™, Bio‑Techne Spatial™, and Bio‑Techne Diagnostics™, reflecting the scientific journey from discovery to translational research to clinical decision‑making. Bio‑Techne operates in 34 locations worldwide and employs approximately 3,000 people. In fiscal year 2026, the company generated over $1.2 billion in net sales.  Its more than 500,000 products are used globally by academic researchers, biopharmaceutical and biotechnology companies, and clinical diagnostic laboratories. For more information on Bio-Techne and its brands, please visit www.bio-techne.com or follow the company on social media at LinkedIn, X, or YouTube. 

Forward Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These statements use words and variations of words, such as “will,” “plan,” “continue,” “believe,” “outlook,” “expect,” and “predict.” These statements are made as of the date of this press release, are based on current expectations of future events, and thus are inherently subject to a number of risks and uncertainties, many of which involve factors or circumstances beyond the Company’s control. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the Company’s expectations and projections. These risks, uncertainties, and other factors include, without limitation: the effect of new branding and marketing initiatives, the integration of new businesses and leadership, the introduction and acceptance of new products, the funding and focus of the types of research by the Company’s customers, the impact of the growing number of producers of biotechnology research products and related price competition, general economic conditions, the impact of currency exchange rate fluctuations, and the costs and results of research and product development efforts of the Company and of companies in which the Company has invested or with which it has formed strategic relationships.

For additional information concerning these risks, uncertainties, and other factors, see the section titled “Risk Factors” in the Company’s most recent annual report on Form 10-K as filed with the Securities and Exchange Commission. We undertake and we expressly disclaim any obligation to update or revise any forward-looking statements due to new information, changed assumptions, or future events, except as required by law. Investors are cautioned not to place undue reliance on forward-looking statements.

Non-GAAP Financial Measures:

The Company’s financial statements are prepared in accordance with accounting principles generally accepted in the U.S. (GAAP). This press release contains financial measures that have not been calculated in accordance with GAAP. These non-GAAP measures include:

  • Organic revenue and organic revenue growth
  • Adjusted gross margin
  • Earnings before interest, taxes, depreciation, and amortization (EBITDA)
  • Adjusted EBITDA
  • Adjusted operating income
  • Adjusted operating margin
  • Adjusted tax rate
  • Adjusted net earnings
  • Adjusted diluted earnings per share

These non-GAAP measures should not be considered in isolation or as a substitute for any measure derived in accordance with GAAP and may also be inconsistent with similar measures presented by other companies. Reconciliations of these measures to the applicable most closely comparable GAAP measures, and reasons for the Company’s use of these measures, are presented in the attached pages.

Contact:

David Clair, Vice President, Investor Relations


[email protected]

612-656-4416

 

BIO-TECHNE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(In thousands, except per share data)

(Unaudited)


Quarter Ended


Year Ended


June 30, 


June 30, 


2026


2025


2026


2025

Net sales

$

321,191

$

316,964

$

1,215,039

$

1,219,635

Cost of sales

109,797

118,152

415,968

429,363

Gross margin

211,394

198,812

799,071

790,272

Operating expenses:

Selling, general and administrative

113,172

196,640

452,415

588,521

Research and development

23,945

26,032

94,766

99,496

Total operating expenses

137,117

222,672

547,181

688,017

Operating income

74,277

(23,860)

251,890

102,255

Other income (expense)

(3,596)

1,001

(11,210)

(3,792)

Earnings before income taxes

70,681

(22,859)

240,680

98,463

Income taxes

16,059

(5,182)

58,818

25,063

Net earnings

$

54,622

$

(17,677)

$

181,862

$

73,400

Earnings per share:

Basic

$

0.35

$

(0.11)

$

1.17

$

0.47

Diluted

$

0.35

$

(0.11)

$

1.16

$

0.46

Weighted average common shares outstanding:

Basic

156,090

154,913

155,963

157,521

Diluted

157,025

155,757

157,009

159,717

 

BIO-TECHNE CORPORATION

RECONCILIATION OF ADJUSTED GROSS MARGIN AND ADJUSTED GROSS MARGIN PERCENTAGE

(In thousands)

(Unaudited)


Quarter Ended


Year Ended


June 30, 


June 30, 


2026


2025


2026


2025

Total consolidated net sales

$

321,191

$

316,964

$

1,215,039

$

1,219,635

Business held-for-sale(1)

—

—

5,439

4,152

Revenue from recurring operations

$

321,191

$

316,964

$

1,209,600

$

1,215,483

Gross margin – GAAP

$

211,394

$

198,812

$

799,071

$

790,272

Gross margin percentage – GAAP

65.8

%

62.7

%

65.8

%

64.8

%

Identified adjustments:

Costs recognized upon sale of acquired inventory

$

—

$

197

$

—

$

751

Amortization of intangibles

9,422

10,569

37,799

44,035

Stock-based compensation, inclusive of employer taxes

282

288

1,534

1,298

Restructuring and restructuring-related costs

1,049

12,141

5,805

20,094

Impact of business held-for-sale(1)

—

—

(2,581)

(147)

Adjusted gross margin

$

222,147

$

222,007

$

841,628

$

856,303

Adjusted gross margin percentage(2)

69.2

%

70.0

%

69.6

%

70.4

%

(1)

June 30, 2025 amounts relate to the Protein Sciences segment business that met the held-for-sale criteria on December 31, 2023.
June 30, 2026 amounts relate to the Diagnostics and Spatial Biology segment business that met the held-for-sale criteria on June
30, 2025.

(2)

Adjusted gross margin percentage excludes both revenue and gross margin of the businesses that met the held-for-sale criteria
during the respective periods.

 

BIO-TECHNE CORPORATION

RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA

(In thousands)

(Unaudited)


Quarter Ended


Year Ended


June 30, 


June 30, 


2026


2025


2026


2025

Net earnings

$

54,622

$

(17,677)

$

181,862

$

73,400

Net interest expense (income)

750

1,593

5,405

4,623

Depreciation and amortization

24,169

27,111

97,359

109,903

Income taxes

16,059

(5,182)

58,818

25,063

EBITDA

95,600

5,845

343,444

212,989

Amortization of Wilson Wolf intangible assets

2,490

2,490

9,959

9,959

Acquisition related expenses and other

1,782

4,010

8,570

13,489

Certain litigation charges

143

1,220

5,513

41,827

Stock-based compensation, inclusive of employer taxes

5,375

4,653

42,637

42,158

Restructuring and restructuring-related costs

6,858

13,205

21,059

28,231

Investment loss and other non-operating loss

3,695

—

5,009

—

Impairment (Recovery) of assets held-for-sale

—

84,157

(6,789)

80,503

Impact of business held-for-sale(1)

—

—

2,573

479

Adjusted EBITDA

$

115,943

$

115,580

$

431,975

$

429,635

(1)

June 30, 2025 amounts relate to the Protein Sciences segment business that met the held-for-sale criteria on December 31, 2023.
June 30, 2026 amounts relate to the Diagnostics and Spatial Biology segment business that met the held-for-sale criteria on June
30, 2025.

 

BIO-TECHNE CORPORATION

RECONCILIATION OF ADJUSTED OPERATING INCOME AND ADJUSTED OPERATING MARGIN PERCENTAGE

(In thousands)

(Unaudited)


Quarter Ended


Year Ended


June 30, 


June 30, 


2026


2025


2026


2025

Total consolidated net sales

$

321,191

$

316,964

$

1,215,039

$

1,219,635

Business held-for-sale(1)

—

—

5,439

4,152

Revenue from recurring operations

$

321,191

$

316,964

$

1,209,600

$

1,215,483

Operating income – GAAP

$

74,277

$

(23,860)

$

251,890

$

102,255

Operating income percentage – GAAP

23.1

%

(7.5)

%

20.7

%

8.4

%

Identified adjustments:

Amortization of intangibles

15,070

18,185

61,181

75,321

Acquisition related expenses and other

1,636

3,767

7,986

12,815

Certain litigation charges

143

1,220

5,513

41,827

Stock-based compensation, inclusive of employer taxes

5,375

4,653

42,637

42,158

Restructuring and restructuring-related costs

6,858

13,205

21,059

28,231

Impairment (Recovery) of assets held-for-sale

—

84,157

(6,789)

80,503

Impact of business held-for-sale(1)

—

—

2,573

479

Adjusted operating income

$

103,359

$

101,327

$

386,050

$

383,589

Adjusted operating margin percentage(2)

32.2

%

32.0

%

31.9

%

31.6

%

(1)

June 30, 2025 amounts relate to the Protein Sciences segment business that met the held-for-sale criteria on December 31, 2023.
June 30, 2026 amounts relate to the Diagnostics and Spatial Biology segment business that met the held-for-sale criteria on June
30, 2025.

(2)

Adjusted operating margin percentage excludes both revenue and operating margin for the businesses that met the held-for-sale
criteria during the respective periods.

 

BIO-TECHNE CORPORATION

RECONCILIATION OF NON-GAAP ADJUSTED TAX RATE

(In percentages)

(Unaudited)


Quarter Ended


Year Ended


June 30, 


June 30, 


2026


2025


2026


2025

GAAP effective tax rate

22.7

%

22.7

%

24.4

%

25.5

%

Discrete items

(0.7)

13.9

1.3

0.8

Annual forecast update

3.7

(10.3)

—

—

Long-term GAAP tax rate

25.7

%

26.3

%

25.7

%

26.3

%

Rate impact items

Stock based compensation

(1.1)

%

(0.9)

%

(2.0)

%

(3.1)

%

Other

(2.3)

(3.9)

(1.4)

(1.7)

Total rate impact items

(3.4)

%

(4.8)

%

(3.4)

%

(4.8)

%

Non-GAAP adjusted tax rate

22.3

%

21.5

%

22.3

%

21.5

%

 

BIO-TECHNE CORPORATION

RECONCILIATION OF ADJUSTED NET EARNINGS AND ADJUSTED EARNINGS PER SHARE

(In thousands, except per share data)

(Unaudited)


Quarter Ended


Year Ended


June 30, 


June 30, 


2026


2025


2026


2025

Net earnings before taxes – GAAP

$

70,681

$

(22,859)

$

240,680

$

98,463

Identified adjustments:

Amortization of intangibles

15,070

18,185

61,181

75,321

Amortization of Wilson Wolf intangible assets

2,490

2,490

9,959

9,959

Acquisition related expenses and other

1,782

4,010

8,570

13,489

Certain litigation charges

143

1,220

5,513

41,827

Stock-based compensation, inclusive of employer taxes

5,375

4,653

42,637

42,158

Restructuring and restructuring-related costs

6,858

13,205

21,059

28,231

Investment loss and other non-operating loss

3,695

—

5,009

—

Impairment (Recovery) of assets held-for-sale

—

84,157

(6,789)

80,503

Impact of business held-for-sale(1)

—

—

2,573

479

Net earnings before taxes – Adjusted

$

106,094

$

105,061

$

390,392

$

390,430

Non-GAAP tax rate

22.3

%

21.5

%

22.3

%

21.5

%

Non-GAAP tax expense

$

23,658

$

22,589

$

87,057

$

83,973

Non-GAAP adjusted net earnings

$

82,436

$

82,472

$

303,335

$

306,457

Earnings per share – diluted – Adjusted

$

0.52

$

0.53

$

1.93

$

1.92

(1)

June 30, 2025 amounts relate to the Protein Sciences segment business that met the held-for-sale criteria on December 31, 2023.
June 30, 2026 amounts relate to the Diagnostics and Spatial Biology segment business that met the held-for-sale criteria on June
30, 2025.

 

BIO-TECHNE CORPORATION

SEGMENT REVENUE

(In thousands)

(Unaudited)


Quarter Ended


Year Ended


June 30, 


June 30, 


2026


2025


2026


2025

Protein Sciences segment revenue

$

231,194

$

226,472

$

874,620

$

870,245

Diagnostics and Spatial Biology segment revenue

90,141

89,705

336,365

346,263

Other revenue(1)

—

—

5,439

4,152

lntersegment revenue

(144)

787

(1,385)

(1,025)

Consolidated revenue

$

321,191

$

316,964

$

1,215,039

$

1,219,635

(1)


June 30, 2025 amounts relate to the Protein Sciences segment business that met the held-for-sale criteria on December 31, 2023.
June 30, 2026 amounts relate to the Diagnostics and Spatial Biology segment business that met the held-for-sale criteria on June

30, 2025.

 

BIO-TECHNE CORPORATION

SEGMENT OPERATING INCOME

(In thousands)

(Unaudited)


Quarter Ended


Year Ended


June 30, 


June 30, 


2026


2025


2026


2025

Protein Sciences segment operating income

$

97,073

$

98,790

$

359,401

$

370,353

Diagnostics and Spatial Biology segment operating income

10,069

5,384

37,698

21,324

Segment operating income

107,142

104,174

397,099

391,677

Corporate general, selling, and administrative

(3,783)

(2,847)

(11,049)

(8,088)

Adjusted operating income

103,359

101,327

386,050

383,589

Amortization of intangibles

(15,070)

(18,185)

(61,181)

(75,321)

Acquisition related expenses and other

(1,636)

(3,767)

(7,986)

(12,815)

Certain litigation charges

(143)

(1,220)

(5,513)

(41,827)

Stock-based compensation, inclusive of employer taxes

(5,375)

(4,653)

(42,637)

(42,158)

Restructuring and restructuring-related costs

(6,858)

(13,205)

(21,059)

(28,231)

(Impairment) Recovery of assets held-for-sale

—

(84,157)

6,789

(80,503)

Impact of business held-for-sale(1)

—

—

(2,573)

(479)

Operating income

$

74,277

$

(23,860)

$

251,890

$

102,255

(1)

June 30, 2025 amounts relate to the Protein Sciences segment business that met the held-for-sale criteria on December 31, 2023.
June 30, 2026 amounts relate to the Diagnostics and Spatial Biology segment business that met the held-for-sale criteria on June
30, 2025.

 

BIO-TECHNE CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

June 30,

June 30,

2026

2025


ASSETS

Cash and equivalents

$

264,712

$

162,186

Accounts receivable, net

216,585

206,876

Inventories

195,744

189,446

Current assets held-for-sale

—

12,332

Other current assets

67,360

37,460

Total current assets

744,401

608,300

Property and equipment, net

231,836

245,719

Right of use assets

67,333

73,399

Goodwill and intangible assets, net

1,278,820

1,346,534

Other assets

264,336

283,916

Total assets

$

2,586,726

$

2,557,868


LIABILITIES AND STOCKHOLDERS’
EQUITY

Accounts payable and accrued expenses

$

105,075

$

116,765

Contract liabilities

36,072

32,571

Income taxes payable

3,593

10,770

Operating lease liabilities – current

14,935

14,098

Other current liabilities

4,025

1,645

Total current liabilities

163,700

175,849

Deferred income taxes

19,308

6,169

Long-term debt obligations

200,000

346,000

Operating lease liabilities

74,152

83,960

Other long-term liabilities

21,345

27,082

Stockholders’ equity

2,108,221

1,918,808

Total liabilities and stockholders’ equity

$

2,586,726

$

2,557,868

 

BIO-TECHNE CORPORATION

CONDENSED CONSOLIDATED CASH FLOWS

(In thousands)

(Unaudited)


Year Ended


June 30, 


2026


2025

CASH FLOWS FROM OPERATING ACTIVITIES

Net earnings

$

181,862

$

73,400

Adjustments to reconcile net earnings to net cash provided by operating activities

Depreciation and amortization

97,359

109,903

Costs recognized on sale of acquired inventory

—

751

Deferred income taxes

13,196

(51,107)

Stock-based compensation expense

41,365

40,833

(Gain) Loss on equity method investment

(887)

(938)

Asset impairment restructuring

3,914

21,312

Recovery of assets held-for-sale

(6,789)

80,503

Other operating activities

(37,947)

12,899

Net cash provided by (used in) operating activities

292,073

287,556

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds from sale of available-for-sale investments

—

1,085

Additions to property and equipment

(28,850)

(31,006)

Distributions from Wilson Wolf

6,043

7,291

Investment in Spear Bio

—

(15,000)

Proceeds from sale of assets held-for-sale

4,617

2,447

Net cash provided by (used in) investing activities

(18,190)

(35,183)

CASH FLOWS FROM FINANCING ACTIVITIES

Cash dividends

(49,916)

(50,391)

Proceeds from stock option exercises

80,618

51,739

Long-term debt activity, net

(146,000)

27,000

Repurchases of common stock

(41,675)

(275,731)

Taxes paid on RSUs and net share settlements

(12,141)

(6,522)

Net cash provided by (used in) financing activities

(169,114)

(253,905)

Effect of exchange rate changes on cash and cash equivalents

(2,243)

11,927

Net increase (decrease) in cash and cash equivalents

102,526

10,395

Cash and cash equivalents at beginning of period

162,186

151,791

Cash and cash equivalents at end of period

$

264,712

$

162,186

Use of Non-GAAP Financial Measures:

This press release contains financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. (GAAP). We provide these measures as additional information regarding our operating results. We use these non-GAAP measures internally to evaluate our performance and in making financial and operational decisions, including with respect to incentive compensation. We believe that our presentation of these measures provides investors with greater transparency with respect to our results of operations and that these measures are useful for period-to-period comparison of results. Investors are encouraged to review the reconciliations of non-GAAP financial measures used in this press release to their most directly comparable GAAP financial measures as provided with the financial statements attached to this press release.

Our non-GAAP financial measure of organic revenue and organic revenue growth represent revenue growth excluding revenue from acquisitions within the preceding 12 months, the impact of foreign currency, as well as the impact of businesses held-for-sale. Excluding these measures provides more useful period-to-period comparison of revenue results as it excludes the impact of foreign currency exchange rates, which can vary significantly from period to period, and revenue from acquisitions that would not be included in the comparable prior period. Revenues from businesses held-for-sale are excluded from our organic revenue calculation starting on the date they become held-for-sale as those revenues will not be comparative in future periods.

Our non-GAAP financial measures for adjusted gross margin, adjusted operating margin, adjusted EBITDA, and adjusted net earnings, in total and on a per share basis, exclude stock-based compensation, which is inclusive of the employer portion of payroll taxes on those stock awards, the costs recognized upon the sale of acquired inventory, amortization of acquisition intangibles, and restructuring and restructuring-related costs. Stock-based compensation is excluded from non-GAAP adjusted net earnings because of the nature of this charge, specifically the varying available valuation methodologies, subjective assumptions, variety of award types, and unpredictability of amount and timing of employer related tax obligations. The Company excludes amortization of purchased intangible assets, purchase accounting adjustments, including costs recognized upon the sale of acquired inventory, and other non-recurring items including gains or losses on goodwill and long-lived asset impairment charges, and one-time assessments from this measure because they occur as a result of specific events, and are not reflective of our internal investments, the costs of developing, producing, supporting and selling our products, and the other ongoing costs to support our operating structure. Costs related to restructuring and restructuring-related activities, including reducing overhead and consolidating facilities, are excluded because we believe they are not indicative of our normal operating costs. Additionally, these amounts can vary significantly from period to period based on current activity. The Company also excludes revenue and expense attributable to businesses held-for-sale in the calculation of our non-GAAP financial measures.

The Company’s non-GAAP adjusted operating margin, adjusted EBITDA, and adjusted net earnings, in total and on a per share basis, also excludes acquisition related expenses inclusive of the changes in fair value of contingent consideration, and other non-recurring items including certain costs related to goodwill and long-lived asset impairments, and gains. We also exclude certain litigation charges which are facts and circumstances specific including costs to resolve litigation and legal settlement (gains and losses). In some cases, these costs may be a result of litigation matters at acquired companies that were not probable, inestimable, or unresolved at the time of acquisition.

The Company’s non-GAAP adjusted EBITDA and adjusted net earnings, in total and on a per share basis, also excludes gains and losses from investments, as they are not part of our day-to-day operating decisions (excluding our equity method investment in Wilson Wolf as it is certain to be acquired in the future) and certain adjustments to income tax expense. Additionally, gains and losses from investments that are either isolated or cannot be expected to occur again with any predictability are excluded. The Company independently calculates a non-GAAP adjusted tax rate to be applied to the identified non-GAAP adjustments considering the impact of discrete items on these adjustments and the jurisdictional mix of the adjustments. In addition, the tax impact of other discrete and non-recurring charges which impact our reported GAAP tax rate are adjusted from net earnings. We believe these tax items can significantly affect the period-over-period assessment of operating results and not necessarily reflect costs and/or income associated with historical trends and future results.

Bio-Techne

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/bio-techne-releases-fourth-quarter-fiscal-2026-results-302849060.html

SOURCE Bio-Techne Corporation

Posted on

Einride and DAF Partner to Accelerate Scale-up of Autonomous Electric Freight

An important step towards large-scale commercialization of SAE Level 4 trucks

STOCKHOLM and EINDHOVEN, The Netherlands, Aug. 12, 2026 (GLOBE NEWSWIRE) — Einride AB, a technology company driving the shift to cost-efficient autonomous and electric freight, and DAF Trucks, a leader in truck manufacturing, today announced a joint initiative to integrate Einride’s autonomous driving system, Einride Driver, into DAF’s premium vehicle platform.

The collaboration marks a significant step toward the large-scale commercialization of SAE Level 4 autonomous electric freight transportation in response to industry challenges such as driver shortages and rising operating costs.

Level 4 refers to a high level of driving automation in which the vehicle can independently perform repetitive driving tasks under predefined conditions, without any need for human intervention. In this way, available drivers can focus on activities in logistic operations where their expertise and judgement add the most value.

Integration of technology and electric truck platform

As a first step, Einride and DAF, together with experts from the Dutch independent research institute for applied science and innovation, TNO, will collaborate on defining and testing the integration of Einride’s autonomous drive system within DAF’s ‘International Truck of the Year 2026’ electric truck platform. This includes establishing the required interfaces to enable safe and scalable autonomous operations.

With the assistance of TNO, Einride and DAF are working closely with type approval authorities to ensure the platform is compliant for future expansion onto public roads. Initial tests and validation of key interfaces will be conducted during 2026, followed in 2027 by the integration and commissioning of Einride’s autonomous driving software, with all subsequent interface validation and functional testing performed on a DAF truck.

Automated driving strategy

This initiative builds on PACCAR’s automated driving activities, where significant experience has already been gained through the North American Autonomous Vehicle Platform (AVP) program. In parallel, PACCAR is advancing developments within the broader autonomous trucking ecosystem in collaboration with emerging full stack technology providers. This reflects the rapid evolution of scalable, software defined autonomy solutions for heavy duty transport. Insights from these programs provide additional opportunities to accelerate the development of autonomous capabilities within the DAF platform.

“By leveraging DAF’s decades of manufacturing excellence and market strength, we can expedite the global scale-up of Einride’s autonomous technology,” said Henrik Green, Chief Technology Officer at Einride. “This collaboration validates our vehicle-agnostic approach to autonomy and brings us one step closer to deploying safe, scalable Level 4 autonomy at commercial scale.”

“This collaboration is a testament to DAF’s commitment to innovation and future-proofing the logistics sector,” said Jeroen van den Oetelaar, DAF Trucks’ Chief Engineer and member of the board. “By combining our premium truck platform with leading autonomous technology, we are actively shaping a more efficient, safer, and sustainable freight ecosystem.”

Complete Electric Range

DAF offers a complete series of electric trucks, ranging from a 12-tonne XB Electric for city distribution to the XG and XG+ Electric for longer haul applications. The XG Electric and XG+ Electric share their DNA with the XD and XF Electric trucks, jointly voted ‘International Truck of the Year 2026’ for their high efficiency, smooth drivelines and excellent driver comfort.

About Einride

Founded in Stockholm in 2016, Einride is a technology leader driving the transition to sustainable, cost-efficient autonomous and electric freight operations. The company’s platform integrates AI-powered freight intelligence, proprietary autonomous technology, and one of the world’s largest electric heavy-duty fleets. Einride serves a global customer base across North America, Europe, and the Middle East through a dual business model encompassing Freight-Capacity-as-a-Service (FCaaS) and a Software-as-a-Service (SaaS) platform.

About DAF Trucks N.V

DAF Trucks N.V. — a subsidiary of PACCAR Inc, a global technology company that designs and manufactures light, medium and heavy-duty trucks. DAF provides a full range of tractor units and vocational trucks, offering the right vehicle for every transport application. DAF is also a leading provider of services, including MultiSupport repair and maintenance contracts, financial services from PACCAR Financial and a first-class parts delivery service from PACCAR Parts.

Investor & Media Contacts

Einride
Christina Zander
Head of Communications Einride
[email protected], [email protected]

DAF Trucks N.V.
Corporate Communications Department
Rutger Kerstiens, +31 40 214 2874
www.daf.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/89b0152d-a3c1-4d59-b2bd-96217ef5d55b



Posted on

Nova Minerals Provides an Update on Its 2026 Field Season Activities

Anchorage, Alaska, Aug. 12, 2026 (GLOBE NEWSWIRE) — Nova Minerals Corp (“Nova Minerals” or the “Company”) (NYSE American: NVA | ASX: NVA) is pleased to provide an update on its 2026 field season activities at its Estelle Gold and Critical Minerals Project (“Estelle” or the “Project”) in Alaska.

Highlights

  • Three Drill Rigs Currently Operating: The Company currently has three diamond drill rigs operating onsite, conducting drilling 24 hours a day, seven days a week throughout the Alaskan summer.
  • Bulk Sampling and Drilling at the Styx Prospect: Two diamond drill holes have now been completed from a newly constructed drill pad on the eastern side of Styx to test the down-dip extent of the 1 m-thick quartz-stibnite vein. In parallel, more than 50 tons of stibnite-rich material has been transported to camp for processing through the Whiskey Bravo ore sorter. This ore sorted coarse concentrate will provide initial feed material for the Port MacKenzie antimony pilot plant.
  • RPM Drilling Ongoing: Several drill pads have been established along the ridgeline and in the eastern valley to test more than 3 km of strike at RPM. Drilling conducted at RPM so far this year has resulted in several newly discovered mineralized instrusives, and we eagerly await the assay results from these holes. Furthermore, at RPM Valley, several pads have been established to support infill and expansion of the existing resource.
  • Stibium Drilling Ongoing: Due to difficult drilling conditions encountered from the top of the ridge, a new pad was established on the south face of Stibium lower down on the slope and 200m closer to the target zone. Drilling is ongoing.
  • Further Train Drilling Completed: Two additional exploratory drill holes have been completed from a newly established pad at Train to test the depth and extent of outcropping mineralized quartz-arsenopyrite-chalcopyrite veining. Previous surface sampling returned high-grade gold assays of up to 128 g/t Au, providing a strong target for follow-up drilling.
  • Permitting Progress: A detailed plan of operations for the antimony project has been submitted to the Alaska Dept of Natural Resources for final review and approval. Civil, wetlands and cultural resource surveys have also been completed along the Korbel and RPM trails, supporting the permitting process for approximately 30 miles of additional access trails.
  • Antimony Trisulfide Production: Military-grade antimony trisulfide and antimony metal have been successfully produced at laboratory scale using a proprietary hydrometallurgical processing method. Samples have been submitted for independent analysis.
  • Infrastructure Work Ongoing: Gravel quarrying activities are continuing, supported by the new machinery mobilized to site via the snow road this season. Construction of the Stibium trail has progressed to mile 6 and the first half mile of road sub-base has been laid, while the runway extension is also well underway.
  • Plant Equipment Nearing Delivery: Over 40 containers of process equipment are in transit and being consolidated in Seattle ahead of a scheduled late-August barge shipment to Port MacKenzie, Alaska. Plant construction is expected to commence in 2026.
  • Geologic Reconnaissance Ongoing
    : Geologic mapping and sampling have been ongoing with a detailed focus at RPM and Train. Property scale sampling is underway to provide more coverage over the ~200 sq mile Estelle Gold and Critical Minerals Project claim block.
  • Geophysics: A ZTEM (Z-Axis Tipper Electromagnetic) survey has been flown across the entire claim block. The data is currently under evaluation and will help refine targeting for drilling and reconnaissance, with the potential to unlock further discoveries.
  • Board and Management Site Visits: Independent Directors Avi Gellar and Dovi Berger visited the Estelle Project site late last month. Independent Chairman Richard Beazley, Executive Director Craig Bentley and Nova CFO Ashlie Thorburn are currently in Alaska visiting the site and meeting with State and other government officials.

Nova CEO, Mr Christopher Gerteisen, commented:

“This field season is the clearest evidence yet that Estelle is moving from exploration into execution. With three rigs running around the clock, permitting advancing across our mine plans and processing facilities, and mill equipment already in transit, every workstream is converging toward Estelle’ first antimony production.

“We are converting years of exploration success into a near-term, funded path to production for antimony while also progressing Estelle’s Gold Project, one of the world’s largest undeveloped gold resources.

“Having successfully produced military-grade antimony trisulfide and antimony metal at laboratory scale, we are taking tangible steps toward securing a domestic supply of antimony for the United States, positioning Nova at the centre of America’s critical minerals strategy.”




Figure 1.

Estelle property map with 2026 field season progress highlighted






Figure 2.

Stibium drilling






Figure 3.

Gravel quarrying for the Stibium trail, airstrip expansion and ore sorter site






Figure 4.

RPM ridge drilling






Figure 5.

Large Caribou class aircraft landing at the Whiskey Bravo airstrip






Figure 6.

New pad being built at the bottom of the ridge at RPM

 


Figure 7.

Nova CEO, Christopher Gerteisen, and Independent Chairman, Richard Beazley examining some of the stibnite rich material brought down from the Styx prospect

About Nova Minerals Corp

Nova Minerals Corp is advancing one of the world’s largest undeveloped gold deposits into production and securing a US domestic supply of the critical mineral antimony. The Company is focused on the exploration and development of the Estelle Gold and Critical Minerals Project, located in Alaska, a tier-one mining jurisdiction.

Estelle hosts two defined multi-million-ounce gold resources, and more than 20 prospects distributed along a 35-kilometre mineralized trend, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world’s largest gold mines and discoveries including, Kinross Gold Corporation’s Fort Knox Gold Mine. In parallel, Nova is advancing its critical minerals strategy, fully-funded by a US$43.4 million U.S. Department of War award to develop a domestic antimony supply chain, targeted for production in 2027.

Further discussion and analysis of the Estelle Project is available through the interactive Vrify 3D animations, presentations, and videos, all available on the Company’s website www.novamineralscorp.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical fact, contained in this press release are forward-looking statements and that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Corp’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Corp undertakes no duty to update such information except as required under applicable law.

For further information:

Nova Minerals:  Media: Investor Relations:
Craig Bentley Jenna Shinderman Dave Gentry, CEO
Director Sodali & Co RedChip Companies, Inc.
Ph: 1-720-550-4223 Ph: 1-631-918-4047 Ph: 1-407-644-4256
E: [email protected] E: [email protected] E: [email protected]

Attachments



Posted on

Liquidia Corporation Reports Second Quarter 2026 Financial Results

  • YUTREPIA® (treprostinil) inhalation powder net product sales of approximately $170.4 million in the second quarter of 2026, up 31% from the first quarter of 2026
  • Approximately 5,900 unique patient prescriptions and more than 5,000 patients treated between launch in June 2025 and July 31, 2026
  • Recorded fourth consecutive quarter of increasing profitability, with net income of $74.7 million, adjusted EBITDA of $96.3 million and an increase in cash and cash equivalents of $61.4 million compared to the first quarter of 2026
  • Progressing 10 clinical studies supporting YUTREPIA and L606 across known and new indications for inhaled treprostinil

MORRISVILLE, N.C., Aug. 12, 2026 (GLOBE NEWSWIRE) — Liquidia Corporation (NASDAQ: LQDA), a biopharmaceutical company driven by science and compassion to revolutionize care for patients with challenging respiratory and vascular diseases, today reported financial results for the second quarter ended June 30, 2026. The company will also host a webcast at 8:30 a.m. ET on August 12, 2026, to discuss its financial results and provide a corporate update.

Dr. Roger Jeffs, Liquidia’s Chief Executive Officer, said: “We are pleased by the sustained adoption of YUTREPIA as the inhaled prostacyclin of choice. The inhaled category has grown almost 40% since launch, and YUTREPIA has captured an ever-increasing share of that growth. We are building on that momentum by strengthening the clinical evidence for YUTREPIA in PAH and PH-ILD patients transitioning from other therapies, and advancing studies in new indications that may broaden its impact. Having reset the bar for tolerability and dose flexibility with YUTREPIA, we are excited to have begun site activation and enrollment in Re-Spire, our pivotal study for L606, which we believe can raise that bar even further, beyond any therapy currently available or in development.”

YUTREPIA Commercial Launch Highlights (as of July 31, 2026)

  • Received approximately 5,900 unique patient prescriptions since launch in June 2025
  • Started more than 5,000 patients on treatment since launch in June 2025
  • Prescription-to-start conversion remained strong above the 85% level as previously reported
  • Increased total number of prescribers to more than 1,100 since launch, of which more than 30% have prescribed YUTREPIA to at least 5 patients

Second Quarter 2026 Financial Results

YUTREPIA sales led to the company’s fourth consecutive quarter of increasing profitability with net income of $74.7 million and positive non-GAAP adjusted EBITDA of $96.3 million in the second quarter of 2026.

Cash and cash equivalents totaled $284.2 million as of June 30, 2026, compared to $190.7 million as of December 31, 2025.

Product sales, net, were $170.4 million for the three months ended June 30, 2026, compared to $6.5 million for the three months ended June 30, 2025. We began shipping YUTREPIA to our customers in the United States in June 2025, following receipt of full FDA approval for YUTREPIA on May 23, 2025. The increase of $163.9 million was due to higher volume of YUTREPIA sales.

Service revenue, net, was $1.3 million for the three months ended June 30, 2026, compared to $2.3 million for the three months ended June 30, 2025. Service revenue, net was related to the promotion agreement with Sandoz, Inc. pursuant to which we share profits from the sale of Treprostinil Injection in the United States. The decrease of $1.0 million was primarily due to the impact of unfavorable gross-to-net adjustments.

Cost of product sales was $10.8 million for the three months ended June 30, 2026, compared to $0.2 million for the three months ended June 30, 2025. Cost of product sales is related to sales of YUTREPIA. The increase of $10.6 million was primarily due to higher volume of YUTREPIA sales.

Research and development expenses were $17.2 million for the three months ended June 30, 2026, compared to $6.0 million for the three months ended June 30, 2025. The increase of $11.2 million or 185% was primarily due to a $7.0 million increase in expenses for our L606 program, a $2.0 million increase in expenses related to our YUTREPIA research and development activities, a $0.9 million increase in personnel expenses driven by higher headcount, and a $1.0 million L606 development milestone recognized during the second quarter of 2026.

Selling, general and administrative expenses were $57.4 million for the three months ended June 30, 2026, compared to $38.8 million for the three months ended June 30, 2025. The increase of $18.6 million or 48% was primarily due to a $10.0 million increase in personnel expenses and a $3.1 million increase in stock-based compensation driven by higher headcount, and an $8.6 million increase in commercial and consulting expenses to support the commercialization of YUTREPIA. These increases were partially offset by a $5.5 million decrease in legal fees related to our ongoing YUTREPIA-related litigation.

Total other expenses, net was $3.8 million for the three months ended June 30, 2026, compared to $4.1 million for the three months ended June 30, 2025. The decrease of $0.3 million was primarily attributable to higher money market balances offset by higher borrowings under our revenue interest financing agreement with HealthCare Royalty Partners IV, L.P.

Income tax expense was $7.0 million for the three months ended June 30, 2026. We did not recognize any income tax expense during the three months ended June 30, 2025.

Net income for the three months ended June 30, 2026, was $74.7 million, or $0.84 per basic and $0.74 per diluted share, as compared to a net loss of $41.6 million, or $0.49 per basic and diluted share, for the three months ended June 30, 2025.

Webcast Information

Liquidia will host a live webcast at 8:30 a.m. Eastern Time on August 12, 2026, to discuss the second quarter 2026 financial results and corporate update. The webcast will be available on Liquidia’s website at https://liquidia.com/investors/events-and-presentations. A rebroadcast of the event will be available and archived for a period of one year at the same location.

About YUTREPIA® (treprostinil) Inhalation Powder

YUTREPIA is an inhaled dry-powder formulation of treprostinil delivered through a convenient, low-effort, palm-sized device. YUTREPIA is indicated for the treatment of PAH and PH-ILD to improve exercise ability. YUTREPIA was designed using Liquidia’s PRINT® technology, which enables the development of drug particles that are precise and uniform in size, shape and composition, and that are engineered for enhanced deposition in the lung following oral inhalation. YUTREPIA was previously referred to as LIQ861 in investigational studies.

About L606 (liposomal treprostinil inhalation suspension)
L606 is an investigational, extended-release formulation of treprostinil administered twice daily with a next-generation nebulizer. The L606 suspension uses a proprietary liposomal formulation to encapsulate treprostinil which can be released slowly at a controlled rate into the lung, enhancing drug exposure over an extended period of time. L606 is currently being evaluated in an open-label study in the United States for treatment of PAH and PH-ILD and is the subject of Re-Spire, a global pivotal placebo-controlled efficacy study for the treatment of PH-ILD.

About Treprostinil Injection
Treprostinil Injection is the first-to-file, fully substitutable generic treprostinil for parenteral administration. Treprostinil Injection contains the same active ingredient, same strengths, same dosage form and same inactive ingredients as Remodulin® (treprostinil) and is offered to patients and physicians with the same level of service and support, but at a lower price than the branded drug. Liquidia PAH promotes the appropriate use of Treprostinil Injection for the treatment of PAH in the United States in partnership with its commercial partner, Sandoz, who holds the Abbreviated New Drug Application (ANDA) with the FDA.

About Pulmonary Arterial Hypertension (PAH)

PAH is a rare, chronic, progressive disease caused by hardening and narrowing of the pulmonary arteries that can lead to right heart failure and eventually death. Currently, an estimated 45,000 patients are diagnosed and treated in the United States. There is currently no cure for PAH, so the goals of existing treatments are to alleviate symptoms, maintain or improve functional class, delay disease progression and improve quality of life.

About Pulmonary Hypertension Associated with Interstitial Lung Disease (PH-ILD)

PH-ILD includes a diverse collection of up to 150 different pulmonary diseases, including interstitial pulmonary fibrosis, chronic hypersensitivity pneumonitis, connective tissue disease-related ILD, and chronic pulmonary fibrosis with emphysema (CPFE) among others. Any level of PH in ILD patients is associated with poor 3-year survival. A current estimate of PH-ILD prevalence in the United States is greater than 60,000 patients, though actual prevalence in many of these underlying ILD diseases is not yet known due to factors including underdiagnosis and lack of approved treatments until March 2021 when inhaled treprostinil was first approved for this indication.

About Liquidia Corporation

Liquidia Corporation is a biopharmaceutical company driven by science and compassion to revolutionize care for patients with challenging respiratory and vascular diseases through precise, innovative therapies and applications of its proprietary PRINT® technology. PRINT enabled the development of YUTREPIA® (treprostinil) inhalation powder for the treatment of PAH and PH-ILD. The company is also developing L606, an investigational extended-release formulation of treprostinil administered twice daily with a next-generation nebulizer, and currently markets generic Treprostinil Injection for the treatment of PAH. To learn more about Liquidia, please visit www.liquidia.com.

Abbreviations
1. PAH: pulmonary arterial hypertension. 2. PH-ILD: pulmonary hypertension associated with interstitial lung disease.

Remodulin® is a registered mark of United Therapeutics Corporation.

Cautionary Statements Regarding Forward-Looking Statements

This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical facts, including statements regarding our future results of operations and financial position, our strategic and financial initiatives, our business strategy and plans and our objectives for future operations, are forward-looking statements.

Forward-looking statements, including statements regarding clinical trials, clinical studies and other clinical work (including the funding therefor, anticipated patient enrollment, safety data, study data, trial outcomes, timing or associated costs), regulatory applications and related submission contents and timelines, the timelines or outcomes related to patent litigation with United Therapeutics in the U.S. District Court for the District of Delaware and U.S. District Court for the Middle District of North Carolina, or other litigation between Liquidia and United Therapeutics or others, including rehearings or appeals of decisions in any such proceedings, the issuance of patents by the USPTO and our ability to execute on our strategic or financial initiatives, our estimates regarding future expenses, capital requirements and needs for additional financing, and potential revenue and profitability of YUTREPIA involve significant risks and uncertainties and actual results could differ materially from those expressed or implied herein. Our ability to maintain YUTREPIA’s approval and to continue commercialization of YUTREPIA remain subject to ongoing litigation in which United Therapeutics is seeking injunctive relief, which could block our ability to continue to sell YUTREPIA for one or both of PAH and PH-ILD. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks discussed in our filings with the SEC, as well as a number of uncertainties and assumptions. Moreover, we operate in a very competitive and rapidly changing environment and our industry has inherent risks. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that these goals will be achieved, and we undertake no duty to update our goals or to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

Use of Non-GAAP Financial Information
This press release and the accompanying tables include U.S. Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. For a description of such non-GAAP financial measures, including the reasons for using such measures, and reconciliations of such non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with GAAP, please see the section entitled “About Non-GAAP Financial Information” below.

Contact Information

Investors:

Jason Adair
Chief Business Officer
919.328.4350
[email protected]

Media:
[email protected]

Liquidia Corporation
Select Consolidated Balance Sheet Data
(in thousands)

  June 30,     December 31,  
  2026     2025  
Cash and cash equivalents $ 284,181     $ 190,680  
Total assets $ 521,918     $ 327,934  
Total liabilities $ 326,804     $ 283,186  
Accumulated deficit $ (498,729 )   $ (626,313 )
Total stockholders’ equity $ 195,114     $ 44,748  
           





Liquidia Corporation
Consolidated Statements of Operations and Comprehensive Income (Loss)
(unaudited)

(in thousands, except share and per share amounts)

  Three Months Ended June 30,
  2026
   2025
Revenues:          
Product sales, net $ 170,382     $ 6,517  
Service revenue, net   1,297       2,320  
Total revenue   171,679       8,837  
Costs and expenses:          
Cost of product sales   10,759       205  
Cost of service revenue   791       1,292  
Research and development   17,184       6,021  
Selling, general and administrative   57,428       38,824  
Total costs and expenses   86,162       46,342  
Income (loss) from operations   85,517       (37,505 )
Other income (expense):          
Interest income   2,476       1,584  
Interest expense   (6,296 )     (5,658 )
Total other expense, net   (3,820 )     (4,074 )
Income (loss) before income taxes   81,697       (41,579 )
Income tax expense   6,975       —  
Net income (loss) and comprehensive income (loss) $ 74,722     $ (41,579 )
Net income (loss) per common share, basic $ 0.84     $ (0.49 )
Net income (loss) per common share, diluted $ 0.74     $ (0.49 )
Weighted average common shares outstanding, basic   88,887,744       85,588,108  
Weighted average common shares outstanding, diluted   101,397,028       85,588,108  



About Non-GAAP Financial Information

To supplement our financial results presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP), this press release includes certain non-GAAP financial measures, such as Adjusted EBITDA. We believe the use of such non-GAAP financial measures provides investors with additional insight into our operational performance. While we compute non-GAAP financial measures using a consistent method from quarter to quarter and year to year, we may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures.

Adjusted EBITDA is a non-GAAP measure that represents net income for the period before the impact of interest income, interest expense, other income and expense, income taxes, depreciation and amortization, and certain items that impact comparison of the performance of our business either period-over-period or with other businesses.

Adjusted EBITDA should not be considered in isolation or as a substitute to net income or any other measure of financial performance calculated and presented in accordance with GAAP. Our calculation of Adjusted EBITDA may not be comparable to similarly titled measures of other companies because other companies may not calculate them in the same manner as we calculate these measures.

For a reconciliation of such non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with GAAP, please see the table titled “Reconciliation of Non-GAAP Financial Information” below.

Liquidia Corporation

Reconciliation of Non-
GAAP Financial
Information

Reconciliation of Net Income (Loss) to Adjusted EBITDA

(unaudited)

(in thousands)

  Three Months Ended
  June 30,
  2026
Net income $ 74,722
Interest expense, net   3,820
Income tax expense   6,975
Depreciation and amortization   400
EBITDA $ 85,917
Stock-based compensation   10,370
Adjusted EBITDA $ 96,287