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Smith Micro Reports First Quarter 2026 Financial Results

Smith Micro Reports First Quarter 2026 Financial Results

PITTSBURGH–(BUSINESS WIRE)–
Smith Micro Software, Inc. (Nasdaq: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its first quarter ended March 31, 2026.

“During the first quarter, we continued to build on the organizational and operational changes implemented over the past year, and those efforts are beginning to show tangible results,” said Tim Huffmyer, President and Chief Executive Officer of Smith Micro. “Q1 reflected meaningful improvement across the business, as we increased focus, enhanced execution, and drove better operating discipline which resulted in increased revenue, increased gross margin, and decreased operating expenses as compared to the fourth quarter of 2025.”

“With strong customer engagement, expanding opportunities with both existing and prospective customers, and increased operating focus, we believe we are at an important inflection point,” Huffmyer continued. “As we move forward, our priority remains driving revenue growth, increasing operational leverage, and delivering sustainable profitability, supported by a growing pipeline and continued momentum throughout the remainder of 2026. With the new business under contract and expected to close in the near term, we anticipate topline growth in the second quarter.”

First Quarter 2026 Financial Results

Smith Micro reported revenue of $4.2 million for the quarter ended March 31, 2026, compared to $4.6 million reported in the quarter ended March 31, 2025.

Gross profit for the quarter ended March 31, 2026 was $3.3 million, compared to $3.4 million for the quarter ended March 31, 2025.

Gross profit as a percentage of revenue was 78.4% for the quarter ended March 31, 2026, compared to 72.8% for the quarter ended March 31, 2025.

GAAP net loss for the quarter ended March 31, 2026 was $3.9 million, or $0.15 loss per share, compared to GAAP net loss of $5.2 million, or $0.28 loss per share, for the quarter ended March 31, 2025.

Non-GAAP net loss for the quarter ended March 31, 2026 was $1.5 million, or $0.06 loss per share, compared to non-GAAP net loss of $2.9 million, or $0.16 loss per share, for the quarter ended March 31, 2025. Non-GAAP net loss excludes the items noted below under “Non-GAAP Measures.”

Total cash and cash equivalents as of March 31, 2026 were $1.7 million.

Non-GAAP Measures

To supplement our financial information presented in accordance with GAAP, the Company considers, and has included in this press release, the following non-GAAP financial measures and a non-GAAP reconciliation from the equivalent GAAP metric: non-GAAP net loss, non-GAAP gross profit, and non-GAAP basic and diluted loss per share in the presentation of financial results in this press release. Management believes these non-GAAP presentations may be more meaningful in analyzing the Company’s income generation and has therefore excluded the following items from GAAP earnings calculations: stock compensation, intangibles amortization, depreciation, fair value adjustments, and other items, which includes amortization of debt discount and financing issuance costs, executive transition costs, and costs associated with corporate actions.Additionally, since the Company currently has federal and state net operating loss carryforwards that can be utilized to reduce future cash payments for income taxes, these non-GAAP adjustments have not been tax effected, and the resulting income tax expense reflects actual taxes paid or accrued during each period. This presentation may be considered more indicative of the Company’s ongoing operational performance. The tables below labeled “Reconciliation of GAAP to Non-GAAP Results” present the differences between non-GAAP net loss and net loss on an absolute and per-share basis. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and the non-GAAP financial measures as reported by Smith Micro may not be comparable to similarly titled amounts reported by other companies.

Investor Conference Call

Smith Micro will hold an investor conference call today, April 29, 2026, at 4:30 p.m. ET, to discuss the Company’s first quarter 2026 financial results. To access the call, dial 1-844-701-1164; international participants can call 1-412-317-5492. A passcode is not required to join the call; ask the operator to be placed into the Smith Micro conference. Participants are asked to call the assigned number approximately 10 minutes before the conference call begins. An internet webcast is available at https://event.choruscall.com/mediaframe/webcast.html?webcastid=hhEqlYkv. In addition, the conference call will be available on the Smith Micro website in the Investor Relations section.

About Smith Micro Software, Inc.

Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless service providers around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, our solutions enrich today’s connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT devices. For more information, visit www.smithmicro.com.

Smith Micro and the Smith Micro logo are registered trademarks or trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective owners.

Forward-Looking Statements

Certain statements in this press release are, and certain statements on the related conference call may be, forward-looking statements regarding future events or results within the meaning of the Private Securities Litigation Reform Act, including statements related to our financial prospects, goals and other projections of our outlook or performance our cost reduction plans and other future business plans, and statements using such words as “expect,”“anticipate,” “believe,”“plan,”“intend,”“could,” “will” and other similar expressions. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Among the important factors that could cause or contribute to such differences are customer concentration, given that the majority of our sales currently depend on a few large customer relationships; our ability to establish and maintain strategic relationships with our customers and mobile device manufacturers, their ability to attract customers, and their willingness to promote our products; our ability and/or customers’ ability to distribute our mobile software applications to their end users through third party mobile software application stores, which we do not control; our dependency upon effective operation with operating systems, devices, networks and standards that we do not control and on our continued relationships with mobile operating system providers, device manufacturers and mobile software application stores; our ability to hire and retain key personnel; the possibility of security and privacy breaches in our systems and in the third-party software and/or systems that we use, damaging client relations and inhibiting our ability to grow; interruptions or delays in the services we provide from our data center and cloud hosting facilities; the existence of undetected software defects in our products and our failure to resolve detected defects in a timely manner; our ability to remain a going concern; our ability to raise additional capital and the risk of such capital not being available to us at commercially reasonable terms or at all; our ability to be profitable; current and potential future negative impacts from cost reduction efforts we have taken and may in the future undertake; unanticipated delays or obstacles in our development and release cycles; the degree to which competing business needs or resource constraints may affect our allocation of resources to planned projects; changes in our operating income due to shifts in our sales mix and variability in our operating expenses; adverse impact to our results of operations if we fail to realize the full value of our intangible assets; our current client concentration within the vertical wireless carrier market, and the potential impact to our business resulting from changes within this vertical market, or failure to penetrate new markets; rapid technological evolution and resulting changes in demand for our products from our key customers and their end users; intense competition in our industry and the core vertical markets in which we operate, and our ability to successfully compete; the risks inherent with international operations; the impact of evolving information security and data privacy laws on our business and industry; the impact of governmental regulations on our business and industry; our ability to protect our intellectual property and our ability to operate our business without infringing on the rights of others; and the risk of being delisted from Nasdaq if we continue to fail to meet any of its applicable listing requirements. These and other factors discussed in our filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management, and we do not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.

 

Smith Micro Software, Inc.

Consolidated Balance Sheets

(in thousands except share and par value data)
 

 

 

March 31,

 

 

December 31,

 

 

 

2026

 

 

2025

 

 

 

(unaudited)

 

 

(audited)

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

1,742

 

 

$

1,494

 

Accounts receivable

 

 

2,902

 

 

 

1,817

 

Prepaid expenses and other current assets

 

 

1,321

 

 

 

1,218

 

Total current assets

 

 

5,965

 

 

 

4,529

 

Equipment and improvements, net

 

 

274

 

 

 

331

 

Right-of-use assets

 

 

1,741

 

 

 

1,119

 

Other assets

 

 

499

 

 

 

500

 

Intangible assets, net

 

 

17,315

 

 

 

18,492

 

Total assets

 

$

25,794

 

 

$

24,971

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

1,567

 

 

$

1,937

 

Accrued payroll and benefits

 

 

1,418

 

 

 

1,488

 

Current operating lease liabilities

 

 

722

 

 

 

914

 

Other current liabilities

 

 

649

 

 

 

773

 

Notes payable, net of discount

 

 

—

 

 

 

1,007

 

Total current liabilities

 

 

4,356

 

 

 

6,119

 

Non-current liabilities:

 

 

 

 

 

 

 

 

Warrant liabilities

 

 

41

 

 

 

45

 

Convertible notes payable

 

 

1,901

 

 

 

—

 

Operating lease liabilities

 

 

1,154

 

 

 

417

 

Total non-current liabilities

 

 

3,096

 

 

 

462

 

Commitments and contingencies

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

 

 

Common stock, par value $0.001 per share; 100,000,000 shares authorized; 25,609,766 and 25,798,092 shares issued and outstanding at 2026 and 2025, respectively

 

 

26

 

 

 

26

 

Additional paid-in capital

 

 

406,956

 

 

 

403,107

 

Accumulated comprehensive deficit

 

 

(388,640

)

 

 

(384,743

)

Total stockholders’ equity

 

 

18,342

 

 

 

18,390

 

Total liabilities and stockholders’ equity

 

$

25,794

 

 

$

24,971

 
 

Smith Micro Software, Inc.

Consolidated Statements of Operations

(in thousands except share data)
 

 

 

For the Three Months Ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

 

 

(unaudited)

 

 

(unaudited)

 

Revenues

 

$

4,221

 

 

$

4,621

 

Cost of revenues (including depreciation of $0 and $1 in the three months ended March 31, 2026 and 2025, respectively)

 

 

911

 

 

 

1,258

 

Gross profit

 

 

3,310

 

 

 

3,363

 

Operating expenses:

 

 

 

 

 

 

 

 

Selling and marketing

 

 

1,476

 

 

 

1,643

 

Research and development

 

 

1,848

 

 

 

2,857

 

General and administrative

 

 

2,113

 

 

 

2,724

 

Depreciation and amortization

 

 

1,246

 

 

 

1,349

 

Total operating expenses

 

 

6,683

 

 

 

8,573

 

Operating loss

 

 

(3,373

)

 

 

(5,210

)

Other income (expense):

 

 

 

 

 

 

 

 

Change in fair value of warrant liabilities

 

 

3

 

 

 

123

 

Interest expense, net

 

 

(526

)

 

 

(25

)

Other expense, net

 

 

(1

)

 

 

(65

)

Loss before provision for income tax

 

 

(3,897

)

 

 

(5,177

)

Provision for income tax expense

 

 

—

 

 

 

1

 

Net loss

 

$

(3,897

)

 

$

(5,178

)

 

 

 

 

 

 

 

 

 

Net loss per share – basic and diluted

 

 

 

 

 

 

 

 

Basic and diluted

 

$

(0.15

)

 

$

(0.28

)

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

Basic and diluted

 

 

25,695

 

 

 

18,216

 
 

Smith Micro Software, Inc.

Consolidated Statements of Cash Flows

(in thousands)
 

 

 

For the Three Months Ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

 

 

(unaudited)

 

 

(unaudited)

 

Operating activities:

 

 

 

 

 

 

 

 

Net loss

 

$

(3,897

)

 

$

(5,178

)

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

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

1,246

 

 

 

1,350

 

Non-cash lease expense

 

 

(78

)

 

 

52

 

Change in fair value of warrant liabilities

 

 

(3

)

 

 

(123

)

Amortization of debt discount and financing issuance costs

 

 

431

 

 

 

—

 

Provision for credit losses

 

 

—

 

 

 

103

 

Stock based compensation

 

 

586

 

 

 

1,088

 

Changes in operating accounts:

 

 

 

 

 

 

 

 

Accounts receivable

 

 

(1,085

)

 

 

2,381

 

Prepaid expenses and other assets

 

 

(103

)

 

 

33

 

Accounts payable, accrued, and other liabilities

 

 

(849

)

 

 

(308

)

Net cash used in operating activities

 

 

(3,752

)

 

 

(602

)

Investing activities:

 

 

 

 

 

 

 

 

Capital expenditures, net

 

 

(11

)

 

 

(4

)

Net cash used in investing activities

 

 

(11

)

 

 

(4

)

Financing activities:

 

 

 

 

 

 

 

 

Proceeds from convertible notes, notes payable and warrants offerings

 

 

4,000

 

 

 

—

 

Proceeds from financing arrangements

 

 

263

 

 

 

384

 

Repayments of financing arrangements

 

 

(252

)

 

 

(300

)

Other financing activities

 

 

—

 

 

 

2

 

Net cash provided by financing activities

 

 

4,011

 

 

 

86

 

Net increase (decrease) in cash and cash equivalents

 

 

248

 

 

 

(520

)

Cash and cash equivalents, beginning of period

 

 

1,494

 

 

 

2,808

 

Cash and cash equivalents, end of period

 

$

1,742

 

 

$

2,288

 

 

 

 

 

 

 

 

 

 

Supplemental disclosure of non-cash financing activities:

 

 

 

 

 

 

 

 

Issuance of convertible notes in settlement and prepayment of notes payable

 

$

1,889

 

 

$

—

 
 

Smith Micro Software, Inc.

Reconciliation of GAAP to Non-GAAP Results

(in thousands, except per share data) – unaudited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2026

 

GAAP

 

 

Stock

Compensation

 

 

Intangibles

Amortization

 

 

Depreciation

 

 

Fair Value

Adjustments

 

 

Other¹

 

 

Non-GAAP

 

Gross profit

 

$

3,310

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

3,310

 

Selling and marketing

 

 

1,476

 

 

 

(232

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(82

)

 

 

1,162

 

Research and development

 

 

1,848

 

 

 

(80

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,768

 

General and administrative

 

 

2,113

 

 

 

(274

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(45

)

 

 

1,794

 

Depreciation and amortization

 

 

1,246

 

 

 

—

 

 

 

(1,177

)

 

 

(69

)

 

 

—

 

 

 

—

 

 

 

—

 

Total operating expenses

 

$

6,683

 

 

$

(586

)

 

$

(1,177

)

 

$

(69

)

 

$

—

 

 

$

(127

)

 

$

4,724

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income before provision for income taxes

 

$

(3,897

)

 

$

586

 

 

$

1,177

 

 

$

69

 

 

$

(3

)

 

$

558

 

 

$

(1,510

)

Net loss

 

$

(3,897

)

 

$

586

 

 

$

1,177

 

 

$

69

 

 

$

(3

)

 

$

558

 

 

$

(1,510

)

(Loss) earnings per share: basic and diluted

 

$

(0.15

)

 

$

0.02

 

 

$

0.05

 

 

$

—

 

 

$

—

 

 

$

0.02

 

 

$

(0.06

)
 

Note: (Loss) earnings per share: basic and diluted – may be impacted by rounding to allow rows to calculate.

1Other includes amortization of debt discount and financing issuance costs of approximately $431 and personnel and reorganization costs of approximately $126.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2025

 

GAAP

 

 

Stock

Compensation

 

 

Intangibles

Amortization

 

 

Depreciation

 

 

Fair Value

Adjustments

 

 

Other

 

 

Non-GAAP

 

Gross profit

 

$

3,363

 

 

$

—

 

 

$

—

 

 

$

1

 

 

$

—

 

 

$

—

 

 

$

3,364

 

Selling and marketing

 

 

1,643

 

 

 

(235

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,408

 

Research and development

 

 

2,857

 

 

 

(215

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,642

 

General and administrative

 

 

2,724

 

 

 

(638

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,086

 

Depreciation and amortization

 

 

1,349

 

 

 

—

 

 

 

(1,276

)

 

 

(73

)

 

 

—

 

 

 

—

 

 

 

—

 

Total operating expenses

 

$

8,573

 

 

$

(1,088

)

 

$

(1,276

)

 

$

(73

)

 

$

—

 

 

$

—

 

 

$

6,136

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income before provision for income taxes

 

$

(5,177

)

 

$

1,088

 

 

$

1,276

 

 

$

74

 

 

$

(123

)

 

$

—

 

 

$

(2,862

)

Net loss

 

$

(5,178

)

 

$

1,088

 

 

$

1,276

 

 

$

74

 

 

$

(123

)

 

$

—

 

 

$

(2,863

)

(Loss) earnings per share: basic and diluted

 

$

(0.28

)

 

$

0.06

 

 

$

0.07

 

 

$

—

 

 

$

(0.01

)

 

$

—

 

 

$

(0.16

)
 

Note: (Loss) earnings per share: basic and diluted – may be impacted by rounding to allow rows to calculate.

 

IR INQUIRIES:

Charles Messman

Investor Relations

412-837-5300

[email protected]

KEYWORDS: Pennsylvania United States North America

INDUSTRY KEYWORDS: Security IOT (Internet of Things) Technology Telecommunications Mobile/Wireless Software Networks

MEDIA:

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Tetra Tech Reports Strong Second Quarter 2026 Results and Raises Fiscal Year 2026 Guidance

Tetra Tech Reports Strong Second Quarter 2026 Results and Raises Fiscal Year 2026 Guidance

  • Revenue $1.22 billion; Net Revenue $1.05 billion
  • Operating Income $132 million; EBITDA $146 million
  • EPS $0.36; Adjusted EPS $0.34
  • Backlog $4.28 billion, up 8% sequentially
  • Raising FY26 Net Revenue and EPS guidance

PASADENA, Calif.–(BUSINESS WIRE)–
Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services in water, environment and sustainable infrastructure, today announced results for the second quarter ended March 29, 2026.

Revenue and revenue, net of subcontractor costs (net revenue)1, in the second quarter totaled $1.22 billion and $1.05 billion, respectively. Net revenue increased 8% Y/Y excluding USAID / DOS and disasters. Operating income was $132 million and EBITDA1 was $146 million; EBITDA margin was up 90 basis points Y/Y. EPS was $0.36 and adjusted EPS1 was $0.34. Backlog was $4.28 billion at the end of the second quarter, up 8% sequentially. Cash from operations was $165 million in the second quarter and $688 million over the trailing twelve months, resulting in a DSO of 58 days.

Recent Key Wins

  • $400 million multiple-award contract for consulting and engineering services for USACE Huntsville District
  • $100 million multiple-award contract for environmental services for U.S. Air Force
  • $99 million single-award contract for engineering and technical consulting services for U.S. Navy
  • $49 million multiple-award contract for engineering and technical consulting services for USACE Portland District
  • £18 million single-award contract for consulting services for Northern Ireland Water
  • $14 million task order contractfor technology consulting services for Defense Logistics Agency
  • Netherlands Water frameworkcontracts for engineering and technical consulting services
  • Port of Los Angeles master services agreement for environmental engineering services
  • United Utilities contract for WaterNet™ SaaS water network management solution services

Executive Management Comments

Roger Argus, Chief Executive Officer, commented, “We delivered a strong second quarter, driven by growth across our end markets in water, environment, and sustainable infrastructure. In U.S. federal, we saw increased orders from defense agencies related to new facilities and infrastructure modernization. Our high-end consulting services for providing water supplies and mitigating environmental impacts are increasingly critical to gaining community support for the establishment of data centers. Our international operations grew due to demand for front-end water and infrastructure consulting services. These positive trends led to backlog growth and improved revenue visibility for the remainder of the year, leading to our increased guidance for fiscal 2026.”

Steve Burdick, Chief Financial Officer, stated, “Tetra Tech has started off the first half of fiscal 2026 with the strongest cash flow generation on record with $238 million from operations. These exceptional cash flows have consequently provided better returns for shareholders through our stock buyback program, which has returned $100 million so far this year, and our cash dividend program. Our ability to consistently generate cash in excess of net income has allowed the Company to once again increase our quarterly cash dividends by an additional 11% over last year. Cash generated over the last twelve months of $688 million has allowed us to fund acquisitions, complete stock buybacks, and pay dividends, while deleveraging our net debt by more than 25% from this time last year.”

Quarterly Dividend and Share Repurchase Program

On April 27, 2026, Tetra Tech’s Board of Directors approved a quarterly dividend in the amount of $0.072 per share, an 11% increase year-over-year, payable on June 2, 2026, to stockholders of record as of May 14, 2026. This is the 44th consecutive double-digit increase in the Company’s quarterly dividend. In the second quarter of fiscal 2026, Tetra Tech repurchased $50 million of common stock. Additionally, as of March 29, 2026, the Company had $498 million remaining under its share repurchase program.

Six-Month Results

Revenue for the six-month period was $2.43 billion and net revenue was $2.09 billion. Net revenue increased 8% Y/Y excluding USAID / DOS and disasters. Operating income was $273 million, EPS was $0.76, and cash flow from operations was $238 million.

Business Outlook

The following statements are based on current expectations. These statements are forward-looking, and the actual results could differ materially. These statements do not include the potential impact of transactions that may be completed or developments that become evident after the date of this release. The Business Outlook section should be read in conjunction with the information on forward-looking statements at the end of this release.

For fiscal 2026, Tetra Tech is increasing the full year guidance for net revenue2 to range from $4.25 billion to $4.40 billion and adjusted EPS3 to range from $1.50 to $1.58. For the third quarter of fiscal 2026, Tetra Tech expects net revenue to range from $1.05 billion to $1.10 billion and EPS to range from $0.38 to $0.41.

Webcast

Investors will have the opportunity to access a live audio-visual webcast and supplemental financial information concerning the second quarter of fiscal 2026 results through a link posted on the Company’s website at tetratech.com on April 30, 2026, at 8:00 a.m. (PT).

____________________

1

Non-GAAP financial measures which the Company believes provide valuable perspectives on its business results. Refer to tables at the end of the release and Regulation G Information for reconciliations to the comparable GAAP metrics.

2

Reconciliation of the net revenue guidance to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict the magnitude and timing of all the components, including subcontractor costs, required to provide such reconciliation with sufficient precision.

3

The only adjustments in our guidance for EPS are to exclude the gain on business disposition and contingent consideration in the first six months of fiscal 2026.

Reconciliation of GAAP and Non-GAAP Items

In thousands (except EPS data)
 

 

Three Months Ended

Six Months Ended

 

March 29,

2026

March 30,

2025

March 29,

2026

March 30,

2025

 

 

 

 

 

Revenue

$

1,220,157

 

$

1,322,113

 

$

2,430,820

 

$

2,742,674

 

Subcontractor costs

 

(170,524

)

 

(218,408

)

 

(344,011

)

 

(441,639

)

Net revenue

$

1,049,633

 

$

1,103,705

 

$

2,086,809

 

$

2,301,035

 

 

 

 

 

 

Operating Income

$

131,523

 

$

39,603

 

$

272,517

 

$

62,129

 

Contingent consideration

 

(58

)

 

(1,931

)

 

(7,506

)

 

(2,297

)

Legal contingency

 

–

 

 

–

 

 

–

 

 

115,000

 

Goodwill impairment

 

–

 

 

92,416

 

 

–

 

 

92,416

 

Adjusted Operating Income

$

131,465

 

$

130,088

 

$

265,011

 

$

267,248

 

 

 

 

 

 

EPS

$

0.36

 

$

0.02

 

$

0.76

 

$

0.02

 

Contingent consideration

 

–

 

 

–

 

 

(0.02

)

 

–

 

Legal contingency

 

–

 

 

–

 

 

–

 

 

0.35

 

Goodwill impairment

 

–

 

 

0.31

 

 

–

 

 

0.31

 

Gain on divestiture

 

(0.02

)

 

–

 

 

(0.05

)

 

–

 

Adjusted EPS

$

0.34

 

$

0.33

 

$

0.69

 

$

0.68

 

About Tetra Tech

Tetra Tech is the leader in water, environment and sustainable infrastructure, providing high-end consulting and engineering services for projects worldwide. With more than 25,000 employees working together, Tetra Tech provides clear solutions to complex problems by Leading with Science® to address the entire water cycle, protect and restore the environment, and design sustainable and resilient infrastructure. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn and Facebook.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as “anticipate,” “expect,” “could,” “may,” “intend,” “plan” and “believe,” among others, generally identify forward-looking statements. These forward-looking statements are based on current expectations and beliefs of Tetra Tech’s management and currently available operating, financial, economic and other information, and are subject to a number of risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. A variety of factors, many of which are beyond our control, could cause actual future results or events to differ materially from those projected in the forward-looking statements in this release, including but not limited to: continuing worldwide political and economic uncertainties; the U.S. Administration’s potential changes to fiscal policies; the cyclicality in demand for our overall services; the fluctuation in demand for oil and gas, and mining services; risks related to international operations; concentration of revenues from U.S. government agencies and potential funding disruptions by these agencies; dependence on winning or renewing U.S. government contracts; the delay or unavailability of public funding on U.S. government contracts; the U.S. government’s right to modify, delay, curtail or terminate contracts at its convenience; compliance with government procurement laws and regulations; the impact of global pandemics; credit risks associated with certain clients in certain geographic areas or industries; acquisition strategy and integration risks; goodwill or other intangible asset impairment; the failure to comply with worldwide anti-bribery laws; the failure to comply with domestic and international export laws; the failure to properly manage projects; the loss of key personnel or the inability to attract and retain qualified personnel; the ability of our employees to obtain government granted eligibility; the use of estimates and assumptions in the preparation of financial statements; the ability to maintain adequate workforce utilization; the use of the percentage-of-completion method of accounting; the inability to accurately estimate and control contract costs; the failure to adequately recover on our claims for additional contract costs; the failure to win or renew contracts with private and public sector clients; growth strategy management; backlog cancellation and adjustments; risks relating to cyber security breaches; the failure of partners to perform on joint projects; the failure of subcontractors to satisfy their obligations; requirements to pay liquidated damages based on contract performance; the adoption of new legal requirements; changes in resource management, environmental or infrastructure industry laws, regulations or programs; changes in bank and capital markets and the access to capital; credit agreement covenants; industry competition; liability related to legal proceedings, investigations, and disputes; the availability of third-party insurance coverage; the ability to obtain adequate bonding; employee, agent, or partner misconduct; employee risks related to international travel; safety programs; conflict of interest issues; liabilities relating to reports and opinions; liabilities relating to environmental laws and regulations; force majeure events; protection of intellectual property rights; stock price volatility; the ability to impede a business combination based on Delaware law and charter documents; and other risks and uncertainties as may be described in Tetra Tech’s periodic filings with the Securities and Exchange Commission, including those described in the “Risk Factors” section of Tetra Tech’s Annual Report on Form 10-K for the fiscal year ended September 28, 2025. Readers should not place undue reliance on forward-looking statements since such information speaks only as of the date of this release. Tetra Tech does not intend to update forward-looking statements and expressly disclaims any obligation to do so.

Non-GAAP Financial Measures

To supplement the financial results presented in accordance with generally accepted accounting principles in the United States (“GAAP”), we present certain non-GAAP financial measures within the meaning of Regulation G under the Securities Exchange Act of 1934, as amended. We provide these non-GAAP financial measures because we believe they provide a valuable perspective on our financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, GAAP measures. In addition, other companies may define non-GAAP measures differently which limits the ability of investors to compare non-GAAP measures of Tetra Tech to those used by our peer companies. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures isset forth above in this release.

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

KEYWORDS: California United States North America Canada

INDUSTRY KEYWORDS: Environment Technology Construction & Property Consulting Engineering Telecommunications Professional Services Sustainability Manufacturing Other Construction & Property

MEDIA:

Posted on

Everspin Reports Unaudited First Quarter 2026 Financial Results

Everspin Reports Unaudited First Quarter 2026 Financial Results

CHANDLER, Ariz.–(BUSINESS WIRE)–
Everspin Technologies, Inc. (NASDAQ: MRAM), the world’s leading developer and manufacturer of magnetoresistive random access memory (MRAM) persistent memory solutions, today announced preliminary unaudited financial results for the first quarter ended March 31, 2026.

“Our first quarter results were driven by strength in Industrial Automation, Transportation, and Data Center applications,” said Sanjeev Aggarwal, President and Chief Executive Officer. “Additionally, we have started to see a recovery in customer demand especially in Japan as inventory levels have been worked down. We are also very excited to announce a new $40 million contract with a US prime contractor to provide State of the Art (SOTA) MRAM process technology capabilities and engineering services for United States Defense Industrial Base customers.”

First Quarter 2026 Results

  • Total revenue of $14.9 million, compared to $13.1 million in the first quarter of 2025.

  • MRAM product sales, which include both Toggle and STT-MRAM revenue, of $14.1 million, compared to $11.0 million in the first quarter of 2025.

  • Licensing, royalty, patent, and other revenue of $0.8 million, compared to $2.1 million in the first quarter of 2025.

  • Gross margin of 52.7%, compared to 51.4% in the first quarter of 2025.

  • GAAP operating expenses of $10.6 million, compared to $8.7 million in the first quarter of 2025.

  • Interest and Other income, net of $2.4 million, compared to $0.8 million in the first quarter of 2025.

  • GAAP net loss of $0.3 million, or $(0.01) per diluted share, compared to net loss of $1.2 million, or $(0.05) per diluted share, in the first quarter of 2025.

  • Non-GAAP net income of $2.6 million, or $0.11 per diluted share, compared to non-GAAP net income of $0.4 million, or $0.02 per diluted share, in the first quarter of 2025.

  • Cash and cash equivalents as of March 31, 2026, totaled $40.5 million.

“We are pleased with our first quarter results, which came in at the high end of our expectations, driven by increasing product revenue. Our balance sheet remains strong, providing us with the necessary capital to execute our recently signed Foundry Services Agreement with Microchip, as well as continuing to invest in product development to deliver on our roadmap and enabling the Company to address opportunities that will drive future growth. We continue to prioritize strong operational execution and prudent expense management,” said Bill Cooper, Everspin’s Chief Financial Officer.

Business Outlook

For the second quarter of 2026, Everspin expects total revenue in a range of $15.5 million to $16.5 million and GAAP net loss per share to be between ($0.12) and $(0.07). Non-GAAP net income per diluted share is anticipated to be between $0.00 and $0.03. This guidance excludes any impact from the new sub-contractor agreement announced today.

A reconciliation of non-GAAP guidance measures to corresponding GAAP guidance measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future. Stock-based compensation-related charges are impacted by the timing of employee stock transactions, the future fair market value of Everspin’s common stock, and Everspin’s future hiring and retention needs, all of which are difficult to predict and subject to constant change. These factors could be material to Everspin’s results computed in accordance with GAAP. This outlook is dependent on Everspin’s current expectations, which may be impacted by, among other things, evolving external conditions, such as public health-related events or outbreaks, local safety guidelines, worsening impacts due to supply chain constraints or interruptions, including general market and semiconductor industry volatility, and the other risk factors described in Everspin’s filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, its Quarterly Reports on Form 10-Q filed with the SEC during 2026, as well as in its subsequent filings with the SEC.

Use of Non-GAAP Financial Measures

Everspin supplements the reporting of its financial information determined under generally accepted accounting principles in the United States of America (GAAP) with Non-GAAP financial measures including gross profit, gross margin, operating expenses, operating income (loss), operating margin, net income (loss), and EPS which are defined as the GAAP financial measures excluding the effect of stock-based compensation and litigation costs. Everspin’s GAAP tax rate is effectively zero due to NOL carryforwards, thus a Non-GAAP tax rate is not included as a Non-GAAP financial measure.

Everspin’s management and board of directors use these non-GAAP measures to understand and evaluate its operating performance and trends, to prepare and approve its annual budget and to develop short-term and long-term operating and financing plans. Accordingly, Everspin believes that these non-GAAP measures provide useful information for investors in understanding and evaluating its operating results in the same manner as its management and board of directors. These non-GAAP financial measures should be considered in addition to, not as superior to, or as a substitute for, financial measures reported in accordance with GAAP. Moreover, other companies may define these non-GAAP measures differently, which limits the usefulness of this measure for comparisons with such other companies. Everspin encourages investors to review its financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. Please see the tables included at the end of this release for the reconciliation of GAAP to non-GAAP results.

Conference Call

Everspin will host a conference call for analysts and investors on Wednesday, April 29, 2026, at 5:00 p.m. Eastern Time.

Dial-in details: To access the call by phone, please go to this link and you will be provided with dial-in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

The live webcast of the call will be accessible on Everspin’s website at investor.everspin.com. Approximately two hours after the conclusion of the live event, an archived webcast of the conference call will be accessible from the Investor Relations section of Everspin’s website for twelve months.

About Everspin Technologies

Everspin Technologies, Inc. is the world’s leading provider of magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s most robust, highest-performance non-volatile memory for industrial IoT, data centers and other mission-critical applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit www.everspin.com. NASDAQ: MRAM.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding future results that involve risks and uncertainties that could cause actual results or events to differ materially from the expectations disclosed in the forward-looking statements, including, but not limited to the statements made under the caption “Business Outlook.” Forward-looking statements are identified by words such as “expects” or similar expressions. These include, but are not limited to, Everspin’s future financial performance, including the outlook for second quarter 2026 results. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the risks set forth under the caption “Risk Factors” in Everspin’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 4, 2026, and its Quarterly Reports on Form 10-Q filed with the SEC during 2026, as well as in its subsequent filings with the SEC. Any forward-looking statements made by Everspin in this press release speak only as of the date on which they are made and subsequent events may cause these expectations to change. Everspin disclaims any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.

 

EVERSPIN TECHNOLOGIES, INC.

Condensed Balance Sheets

(In thousands, except share and per share amounts)

(Unaudited)
 

 

March 31,

2026

 

December 31,

2025

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

40,494

 

 

$

44,450

 

Accounts receivable, net

 

10,164

 

 

 

8,101

 

Inventory

 

11,255

 

 

 

10,734

 

Prepaid expenses and other current assets

 

1,811

 

 

 

1,877

 

Total current assets

 

63,724

 

 

 

65,162

 

Property and equipment, net

 

14,925

 

 

 

14,140

 

Intangible assets, net

 

1,272

 

 

 

1,714

 

Right-of-use assets

 

2,918

 

 

 

3,251

 

Other assets

 

352

 

 

 

342

 

Total assets

$

83,191

 

 

$

84,609

 

 

 

 

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

3,510

 

 

$

5,180

 

Accrued liabilities

 

4,531

 

 

 

3,651

 

Lease liabilities, current portion

 

1,399

 

 

 

1,381

 

Contract obligations

 

291

 

 

 

1,472

 

Software liabilities, current portion

 

1,329

 

 

 

1,769

 

Total current liabilities

 

11,060

 

 

 

13,453

 

Lease liabilities, net of current portion

 

1,599

 

 

 

1,956

 

Software liabilities, net of current portion

 

16

 

 

 

15

 

Long-term income tax liability

 

271

 

 

 

268

 

Total liabilities

$

12,946

 

 

$

15,692

 

Commitments and contingencies (Note 5)

 

 

 

Stockholders’ equity:

 

 

 

Preferred stock, $0.0001 par value per share; 5,000,000 shares authorized; no shares issued and outstanding as of March 31, 2026 and December 31, 2025

 

—

 

 

 

—

 

Common stock, $0.0001 par value per share; 100,000,000 shares authorized; 23,320,978 and 22,977,797 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively

 

2

 

 

 

2

 

Additional paid-in capital

 

207,996

 

 

 

206,370

 

Accumulated deficit

 

(137,753

)

 

 

(137,455

)

Total stockholders’ equity

 

70,245

 

 

 

68,917

 

Total liabilities and stockholders’ equity

$

83,191

 

 

$

84,609

 
 

EVERSPIN TECHNOLOGIES, INC.

Condensed Statements of Operations and Comprehensive Income (Loss)

(In thousands, except share and per share amounts)

(Unaudited)
 

 

Three Months Ended March 31,

 

 

2026

 

 

 

2025

 

Product sales

$

14,100

 

 

$

11,026

 

Licensing, royalty, patent, engineering services and other revenue

 

772

 

 

 

2,112

 

Total revenue

 

14,872

 

 

 

13,138

 

Cost of product sales

 

6,955

 

 

 

6,029

 

Cost of licensing, royalty, patent, engineering services and other revenue

 

74

 

 

 

356

 

Total cost of sales

 

7,029

 

 

 

6,385

 

Gross profit

 

7,843

 

 

 

6,753

 

Operating expenses:

 

 

 

Research and development

 

3,605

 

 

 

3,356

 

General and administrative

 

5,061

 

 

 

3,838

 

Sales and marketing

 

1,893

 

 

 

1,491

 

Total operating expenses

 

10,559

 

 

 

8,685

 

Loss from operations

 

(2,716

)

 

 

(1,932

)

Interest income

 

317

 

 

 

408

 

Other income, net

 

2,106

 

 

 

388

 

Net loss before income taxes

 

(293

)

 

 

(1,136

)

Income tax expense

 

(3

)

 

 

(30

)

Net loss and comprehensive loss

$

(296

)

 

$

(1,166

)

Net loss per common share:

 

 

 

Basic

$

(0.01

)

 

$

(0.05

)

Diluted

$

(0.01

)

 

$

(0.05

)

Weighted average shares of common stock outstanding:

 

 

 

Basic

 

23,137,815

 

 

 

22,188,114

 

Diluted

 

23,137,815

 

 

 

22,188,114

 
 

EVERSPIN TECHNOLOGIES, INC.

Condensed Statements of Cash Flows

(In thousands)

(Unaudited)
 

 

Three Months Ended March 31,

 

 

2026

 

 

 

2025

 

Cash flows from operating activities

 

 

 

Net loss

$

(296

)

 

$

(1,166

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

Depreciation and amortization

 

699

 

 

 

846

 

Stock-based compensation

 

1,300

 

 

 

1,577

 

Changes in operating assets and liabilities:

 

 

 

Accounts receivable

 

(2,063

)

 

 

(843

)

Inventory

 

(521

)

 

 

(1,881

)

Prepaid expenses and other current assets

 

66

 

 

 

235

 

Other assets

 

30

 

 

 

(56

)

Accounts payable

 

1,575

 

 

 

1,066

 

Accrued liabilities

 

948

 

 

 

(103

)

Deferred revenue

 

—

 

 

 

1,062

 

Contract obligations

 

(1,181

)

 

 

564

 

Lease liabilities, net

 

10

 

 

 

15

 

Long-term income tax liability

 

3

 

 

 

124

 

Net cash provided by operating activities

 

570

 

 

 

1,440

 

Cash flows from investing activities

 

 

 

Purchases of property and equipment

 

(4,355

)

 

 

(913

)

Purchases of intangible assets

 

(479

)

 

 

(478

)

Net cash used in investing activities

 

(4,834

)

 

 

(1,391

)

Cash flows from financing activities

 

 

 

Payments on finance leases

 

(16

)

 

 

(17

)

Proceeds from exercise of stock options and purchase of shares in employee stock purchase plan

 

324

 

 

 

29

 

Net cash provided by financing activities

 

308

 

 

 

12

 

Net (decrease) increase in cash and cash equivalents

 

(3,956

)

 

 

61

 

Cash and cash equivalents at beginning of period

 

44,450

 

 

 

42,097

 

Cash and cash equivalents at end of period

$

40,494

 

 

$

42,158

 

Supplementary cash flow information:

 

 

 

Operating cash flows paid for operating leases

$

357

 

 

$

353

 

Financing cash flows paid for finance leases

$

16

 

 

$

17

 

Non-cash investing and financing activities:

 

 

 

Purchases of property and equipment in accounts payable and accrued liabilities

$

485

 

 

$

230

 
 

EVERSPIN TECHNOLOGIES, INC.

Supplemental Quarterly Financial Results

(In thousands, except per share amounts)

(Unaudited)
 

 

GAAP Financial Results

 

Three months ended

March 31,

 

 

 

Three months ended

December 31,

2025

 

 

 

2026

 

2025

 

Y/Y

 

 

Q/Q

Revenue

$

14,872

 

 

$

13,138

 

 

13

%

 

$

14,803

 

 

—

%

Gross Profit

$

7,843

 

 

$

6,753

 

 

16

%

 

$

7,515

 

 

4

%

Gross Margin

 

52.7

%

 

 

51.4

%

 

Up 1.3 ppts

 

 

50.8

%

 

Up 1.9 ppts

 

 

 

 

 

 

 

 

 

 

Operating Expenses

$

10,559

 

 

$

8,685

 

 

22

%

 

$

8,585

 

 

23

%

Operating Loss

$

(2,716

)

 

$

(1,932

)

 

(41

)%

 

$

(1,070

)

 

(154

)%

Operating Margin

 

(18.3

)%

 

 

(14.7

)%

 

Down 3.6 ppts

 

 

(7.2

)%

 

Down 11.1 ppts

 

 

 

 

 

 

 

 

 

 

Interest and Other Income

$

2,423

 

 

$

796

 

 

204

%

 

$

2,394

 

 

1

%

Net (Loss) Income

$

(296

)

 

$

(1,166

)

 

75

%

 

$

1,196

 

 

(125

)%

Diluted Earnings Per Share

$

(0.01

)

 

$

(0.05

)

 

76

%

 

$

0.05

 

 

(126

)%

 

Non-GAAP Financial Results

 

Three months ended

March 31,

 

 

 

Three months ended

December 31,

2025

 

 

 

2026

 

2025

 

Y/Y

 

 

Q/Q

Revenue

$

14,872

 

 

$

13,138

 

 

13

%

 

$

14,803

 

 

—

%

Gross Profit

$

7,984

 

 

$

6,939

 

 

15

%

 

$

7,672

 

 

4

%

Gross Margin

 

53.7

%

 

 

52.8

%

 

Up 0.9 ppts

 

 

51.8

%

 

Up 1.9 ppts

 

 

 

 

 

 

 

 

 

 

Operating Expenses

$

7,771

 

 

$

7,294

 

 

7

%

 

$

7,369

 

 

5

%

Operating Income (Loss)

$

213

 

 

$

(355

)

 

160

%

 

$

303

 

 

(30

)%

Operating Margin

 

1.4

%

 

 

(2.7

)%

 

Up 4.1 ppts

 

 

2.0

%

 

Down 0.6 ppts

 

 

 

 

 

 

 

 

 

 

Interest and Other Income

$

2,423

 

 

$

796

 

 

204

%

 

$

2,394

 

 

1

%

Net Income

$

2,633

 

 

$

411

 

 

541

%

 

$

2,569

 

 

2

%

Diluted Earnings Per Share

$

0.11

 

 

$

0.02

 

 

450

%

 

$

0.11

 

 

—

%
 

EVERSPIN TECHNOLOGIES, INC.

Supplemental Reconciliations of GAAP Results to Non-GAAP Financial Measures

(In thousands)

(Unaudited)
 

 

Three Months Ended

 

March 31,

 

December 31,

2025

 

2026

 

2025

 

 

Gross

Profit

 

Gross

Margin

 

Gross

Profit

 

Gross

Margin

 

Gross

Profit

 

Gross

Margin

GAAP

$

7,843

 

52.7

%

 

$

6,753

 

51.4

%

 

$

7,515

 

50.8

%

Stock-Based Compensation, COGS

 

141

 

 

 

 

186

 

 

 

 

157

 

 

Non-GAAP

$

7,984

 

53.7

%

 

$

6,939

 

52.8

%

 

$

7,672

 

51.8

%

 

Operating

Expenses

 

As a %

of Revenue

 

Operating

Expenses

 

As a %

of Revenue

 

Operating

Expenses

 

As a %

of Revenue

GAAP

$

10,559

 

 

71.0

%

 

$

8,685

 

 

66.1

%

 

$

8,585

 

 

58.0

%

Stock-Based Compensation, R&D

 

(350

)

 

 

 

 

(497

)

 

 

 

 

(397

)

 

 

Stock-Based Compensation, SG&A

 

(809

)

 

 

 

 

(894

)

 

 

 

 

(819

)

 

 

Litigation Costs

 

(1,629

)

 

 

 

 

—

 

 

 

 

 

—

 

 

 

Non-GAAP

$

7,771

 

 

52.3

%

 

$

7,294

 

 

55.5

%

 

$

7,369

 

 

49.8

%

 

Operating

Income (Loss)

 

Operating

Margin

 

Operating

Income (Loss)

 

Operating

Margin

 

Operating

Income (Loss)

 

Operating

Margin

GAAP

$

(2,716

)

 

(18.3

)%

 

$

(1,932

)

 

(14.7

)%

 

$

(1,070

)

 

(7.2

)%

Stock-Based Compensation

 

1,300

 

 

 

 

 

1,577

 

 

 

 

 

1,373

 

 

 

Litigation Costs

 

1,629

 

 

 

 

 

—

 

 

 

 

 

—

 

 

 

Non-GAAP

$

213

 

 

1.4

%

 

$

(355

)

 

(2.7

)%

 

$

303

 

 

2.0

%

 

Net

Income (Loss)

 

Earnings

Per Share

 

Net

Income (Loss)

 

Earnings

Per Share

 

Net

Income (Loss)

 

Earnings

Per Share

GAAP

$

(296

)

 

$

(0.01

)

 

$

(1,166

)

 

$

(0.05

)

 

$

1,196

 

$

0.05

Stock-Based Compensation

 

1,300

 

 

$

0.05

 

 

 

1,577

 

 

$

0.07

 

 

 

1,373

 

$

0.06

Litigation Costs

 

1,629

 

 

$

0.07

 

 

 

—

 

 

$

—

 

 

 

—

 

$

—

Non-GAAP

$

2,633

 

 

$

0.11

 

 

$

411

 

 

$

0.02

 

 

$

2,569

 

$

0.11

 

Investor Relations:

Monica Gould

The Blueshirt Group

T: 212-871-3927

[email protected]

KEYWORDS: Arizona United States North America

INDUSTRY KEYWORDS: Technology Hardware Semiconductor Data Management

MEDIA:

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Qualcomm Earnings Release Available on Company’s Investor Relations Website

Qualcomm Earnings Release Available on Company’s Investor Relations Website

SAN DIEGO–(BUSINESS WIRE)–
Qualcomm Incorporated (NASDAQ: QCOM) today announced the Company’s financial results for its second quarter of fiscal 2026 through an earnings release that is available on the Qualcomm Investor Relations website at https://investor.qualcomm.com/financial-information. The earnings release will also be furnished to the Securities and Exchange Commission (SEC) on a Form 8-K and will be available on the SEC website at http://www.sec.gov.

As previously announced, Qualcomm will host a conference call to discuss its second quarter fiscal 2026 results which will be broadcast live on April 29, 2026, beginning at 1:45 p.m. Pacific Time (PT) at https://investor.qualcomm.com/news-events/investor-events/default.aspx. An audio replay will be available at https://investor.qualcomm.com/news-events/investor-events/default.aspx and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use reservation number 13759551.

Our Investor Relations website at https://investor.qualcomm.com contains a significant amount of information about us, including financial and other information for investors, and it is possible that this information could be deemed to be material information. Accordingly, investors and others interested in Qualcomm should review the information posted on our website in addition to following our press releases, SEC filings and public conference calls and webcasts.

About Qualcomm

Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Building on our 40 years of technology leadership in creating era-defining breakthroughs, we deliver a broad portfolio of solutions built with our leading-edge AI, high-performance, low-power computing, and unrivaled connectivity. Our Snapdragon® platforms power extraordinary consumer experiences, and our Qualcomm Dragonwing™ products empower businesses and industries to scale to new heights. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress.

Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patents are licensed by Qualcomm Incorporated. For more information, visit www.qualcomm.com.

Qualcomm Contact:

Brett Simpson, Investor Relations

Phone: 1-858-658-4813

Email: [email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Semiconductor Technology Software Networks Artificial Intelligence Internet Hardware

MEDIA:

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Lattice Wins BIG 2026 AI Excellence Award

Lattice Wins BIG 2026 AI Excellence Award

HILLSBORO, Ore.–(BUSINESS WIRE)–Lattice Semiconductor (NASDAQ: LSCC), the low power programmable leader, today announced it was named a 2026 AI Excellence Award winner by Business Intelligence Group. Lattice was recognized for its Edge AI solution developed in collaboration with NVIDIA, which delivers a flexible, full-stack platform for real-time data acquisition and processing. The solution combines the Lattice CertusPro™-NX Sensor to Ethernet Bridge Board with the NVIDIA Holoscan Sensor Bridge.

“As edge AI systems grow in complexity, developers need solutions that can reliably connect high-bandwidth sensors to accelerated compute while remaining flexible and power efficient,” said Raemin Wang, Vice President, Segment Marketing, Lattice Semiconductor. “This recognition underscores how Lattice is enabling customers with a scalable sensor bridge solution that simplifies system integration, accelerates development, and helps bring real-time intelligent edge applications to market with greater confidence and speed.”

“Lattice Semiconductor isn’t just talking about AI, they are building with it,” said Russ Fordyce, Chief Recognition Officer at the Business Intelligence Group. “The Lattice Edge AI Solution demonstrates measurable impact by enabling edge AI systems to act, adapt, and deliver at scale.”

For more information about the Lattice Edge AI solution enabled by NVIDIA Holoscan Sensor Bridge, visit the product webpage. To explore Lattice’s industry-leading FPGA edge AI solutions, please visit the Lattice Edge AI Solutions webpage.

About Lattice Semiconductor

Lattice Semiconductor (NASDAQ: LSCC) is the low power programmable leader. We solve customer problems across the network, from the Edge to the Cloud, in the growing Communications, Computing, Industrial, Automotive, and Consumer markets. Our technology, long-standing relationships, and commitment to world-class support let our customers quickly and easily unleash their innovation to create a smart, secure, and connected world.

For more information about Lattice, please visit www.latticesemi.com. You can also follow us via LinkedIn, X, Facebook, YouTube, WeChat, or Weibo.

Lattice Semiconductor Corporation, Lattice Semiconductor (& design), and specific product designations are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries. The use of the word “partner” does not imply a legal partnership between Lattice and any other entity.

GENERAL NOTICE: Other product names used in this publication are for identification purposes only and may be trademarks of their respective holders.

MEDIA CONTACT:

Sophia Hong

Lattice Semiconductor

503-268-8786

[email protected]

INVESTOR CONTACT:

Rick Muscha

Lattice Semiconductor

408-826-6000

[email protected]

KEYWORDS: Oregon United States North America

INDUSTRY KEYWORDS: Semiconductor Technology Software Networks Artificial Intelligence Hardware

MEDIA:

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Vornado Declares Quarterly Dividends On Preferred Shares

NEW YORK, April 29, 2026 (GLOBE NEWSWIRE) —

Vornado Realty Trust (NYSE:VNO) announced today that its Board of Trustees has declared the following quarterly preferred dividends:

  Series A Convertible $ .8125000 per share
  Series L Cumulative Redeemable $ .3375000 per share
  Series M Cumulative Redeemable $ .3281250 per share
  Series N Cumulative Redeemable $ .3281250 per share
  Series O Cumulative Redeemable $ .2781250 per share
         

In each case, dividends are payable on July 1, 2026 to shareholders of record on June 15, 2026.

Vornado Realty Trust is a fully-integrated equity real estate investment trust.


CONTACT

Thomas J. Sanelli

(212) 894-7000

Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “would,” “may” or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see “Risk Factors” in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2025. Currently, some of the factors are interest rate fluctuations and effects of inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general.



Posted on

Kuehn Law Encourages Investors of BellRing Brands, Inc. to Contact Law Firm

NEW YORK, April 29, 2026 (GLOBE NEWSWIRE) — Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of BellRing Brands, Inc. (NYSE: BRBR) breached their fiduciary duties to shareholders.

According to a federal securities lawsuit, Insiders at BellRing Brands caused the company to misrepresent or fail to disclose that BellRing’s reported sales were materially attributable to temporary inventory stockpiling by several of its key customers, which concealed the erosion of the Company’s market share as competition intensified. Contrary to repeated representations, the strong sales results did not reflect increased end-consumer demand or brand momentum. Instead, customers accumulated excess inventory as a safeguard against product shortages that had previously constrained BellRing’s supply.

If you currently own BRBR and purchased prior to November 19, 2024 please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients.Shareholders should contact the firm immediately as there may be limited time to enforce your rights. 

Why Your Participation Matters:

As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™

For additional information, please visit Shareholder Derivative Litigation – Kuehn Law.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
[email protected]
(833) 672-0814



Posted on

City Holding Company Shareholders Elect B. Scott Raynes to Board of Directors

City Holding Company Shareholders Elect B. Scott Raynes to Board of Directors

CHARLESTON, W.Va.–(BUSINESS WIRE)–
The shareholders of City Holding Company, the “Company” (NASDAQ: CHCO), have elected B. Scott Raynes to its Board of Directors as a Class II director to serve for a term of two-years at its Annual Meeting of Shareholders held on April 29, 2026. This increases the number of directors of the Company from 11 to 12.

Raynes received a Bachelor of Arts degree from West Virginia Institute of Technology, a Master’s Degree in Higher Education and Counseling from Morehead State University, and an MBA with a Healthcare specialization from West Virginia University.

Raynes is currently President and CEO of Marshall Health Network, which includes three hospitals and a large physician group affiliated with the Marshall University Joan C. Edwards School of Medicine.

Prior to returning to West Virginia, Raynes served as President and CEO of Southeast Georgia Health System in Brunswick/St. Simons Island, Georgia (January 2022–February 2025). He previously served as President of Baptist Hospitals, Inc. in Pensacola, Florida (August 2013–December 2022), and as President and CEO of NorthCrest Medical Center/NorthCrest Health System in Springfield, Tennessee (February 2005–August 2013).

Earlier in his career, Raynes was President and CEO of Preston Memorial Hospital in Kingwood, West Virginia (2002–2005); Regional Vice President and CEO of HealthSouth Corporation in Huntington, West Virginia (1999–2002); and Chief Operating Officer of Montgomery General Health System in Montgomery, West Virginia (1996–1999).

Raynes currently serves as a member of the Board of Directors for the WV Chamber of Commerce, a board member of the Huntington Area Development Corp., and a board member of the Mason County Development Authority.

“We are thrilled to have Scott Raynes join our Board of Directors,” said Dallas Kayser, Chairman of the Board of City Holding Company. “He has extensive leadership experience in large organizations similar to City National Bank, a strong West Virginia pedigree, and runs one of the largest employers in the Huntington MSA which is City’s largest single customer base. We believe Scott’s background will complement the expertise of City’s current Board.”

City Holding Company is a $6.8 billion bank holding Company headquartered in Charleston, WV. City Holding Company is the parent company of City National Bank of West Virginia. City National operates 96 branches across West Virginia, Kentucky, Virginia and Ohio.

Charles R. Hageboeck, Chief Executive Officer and President

(304) 769-1102

KEYWORDS: West Virginia United States North America

INDUSTRY KEYWORDS: Personal Finance Finance Banking Professional Services Other Professional Services

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Kuehn Law Encourages Investors of Bath and Body Works, Inc. to Contact Law Firm

NEW YORK, April 29, 2026 (GLOBE NEWSWIRE) — Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Bath and Body Works, Inc. (NYSE: BBWI) breached their fiduciary duties to shareholders.

According to a federal securities lawsuit, Insiders at Bath and Body Works caused the company to misrepresent or fail to disclose that (1) the Company’s strategy of pursuing “adjacencies, collaborations and promotions” was not growing the customer base and/or delivering the level of growth in net sales touted; (2) the Company’s strategy of “adjacencies, collaborations and promotions” faltered, the Company relied on brand collaborations “to carry quarters” and obfuscate otherwise weak underlying financial results; and (3) as a result, the Company was unlikely to meet its own previously issued financial guidance.  

If you currently own BBWI and purchased prior to June 4, 2024 please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814.  Kuehn Law pays all case costs and does not charge its investor clients.Shareholders should contact the firm immediately as there may be limited time to enforce your rights.  

Why Your Participation Matters:

As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™  

For additional information, please visit Shareholder Derivative Litigation – Kuehn Law.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
[email protected]
(833) 672-0814



Posted on

Kuehn Law Encourages Investors of Vistagen Therapeutics, Inc. to Contact Law Firm

NEW YORK, April 29, 2026 (GLOBE NEWSWIRE) — Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Vistagen Therapeutics, Inc. (NASDAQ: VTGN) breached their fiduciary duties to shareholders.

According to a federal securities lawsuit, Insiders at Vistagen Therapeutics caused the company to misrepresent or fail to disclose the risk of failure inherent in public speaking challenge-based Social Anxiety Disorder clinical trials. Specifically, that from its own Phase 2 experience and published clinical research that public speaking challenge endpoints often exhibit elevated placebo responses, site variability and measurement noise, yet they continued to tout modifications made to the Phase 3 trial and presenting PALISADE-3 as likely to succeed.

If you currently own VTGN and purchased prior to April 01, 2024 please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients.Shareholders should contact the firm immediately as there may be limited time to enforce your rights.

Why Your Participation Matters:

As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™

For additional information, please visit Shareholder Derivative Litigation – Kuehn Law.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
[email protected]
(833) 672-0814