Market Newsdesk

August 25, 2026 4:10 pm

nCino Reports Second Quarter Fiscal Year 2027 Financial Results

Total Revenues of $161.0M, up 8% year-over-year
Subscription Revenues of $143.5M, up 10% year-over-year
GAAP Operating Margin of 8%, up 1,500 basis points year-over-year
Non-GAAP Operating Margin of 25%, up 500 basis points year-over-year
nCino announces new $100 million stock repurchase authorization

WILMINGTON, N.C., Aug. 25, 2026 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), the platform for agentic AI banking, today announced financial results for the second quarter of fiscal year 2027, ended July 31, 2026, and that its Board of Directors has authorized a Stock Repurchase Program under which the Company may repurchase up to an additional $100 million of the Company’s outstanding common stock.

“We delivered an exceptional second quarter of fiscal 2027, once again exceeding all financial guidance. We are seeing many of our largest customers consolidating more of their most critical operations on nCino and expanding their commitments to include our market leading AI capabilities. The confidence behind those commitments reflects a simple reality: deploying AI in financial services demands deep domain context and expertise, and nCino is uniquely positioned to deliver it at scale globally,” said Sean Desmond, CEO at nCino.

“Following our execution of $300 million in stock repurchases since April 2025, nCino’s Board of Directors has authorized an additional $100 million stock repurchase program to provide continued flexibility to create stockholder value through repurchases of our common stock. This new authorization reflects continued confidence in our AI innovation and product strategy, market position, operational execution, and trajectory of free cash flow,” said Greg Orenstein, CFO at nCino.

Financial Highlights

Revenues: Total revenues for the second quarter of fiscal 2027 were $161.0 million, an 8% increase from $148.8 million in the second quarter of fiscal 2026. Subscription revenues for the second quarter of fiscal 2027 were $143.5 million, an increase of 10% from $130.8 million in the second quarter of fiscal 2026.
Income (Loss) from Operations: GAAP income (loss) from operations in the second quarter of fiscal 2027 was $13.6 million compared to $(9.3) million in the second quarter of fiscal 2026. Non-GAAP operating income in the second quarter of fiscal 2027 was $40.8 million compared to $30.0 million in the second quarter of fiscal 2026, an increase of 36%.
Cash: Cash, cash equivalents, and restricted cash were $83.6 million as of July 31, 2026, and $275.4 million was outstanding under the Company’s credit facility. Free cash flow in the second quarter of fiscal 2027 was $34.0 million compared to $12.6 million in the second quarter of fiscal 2026, an increase of 170%.

Recent Business Highlights

Renewed and Expanded with Four U.S. Enterprise Accounts: Completed multi-year renewals with four U.S. Enterprise customers collectively representing over $900 billion in assets. All four customers renewed ahead of schedule with expanded commitments to utilize nCino’s AI tools and functionality.
Signed a Development Finance Institution in Germany: Building on recently established momentum in the DACH region, signed a growth-focused development finance institution in Germany.
Expanded with Consumer Lending: Expanded a decade-long relationship with a U.S. regional bank customer to include Consumer Lending.
Landed with Commercial Onboarding and Account Opening: Signed a community bank in Iowa as a net-new customer for nCino’s Commercial Onboarding and Account Opening solution.
Signed Hachijuni Nagano Bank: A leading Japanese regional bank selected the nCino Platform to consolidate its consumer lending operations and integrate its proprietary AI credit-scoring engine – advancing the bank’s AI-driven lending strategy.
Expanded with Mortgage in Credit Unions: An Indiana-based credit union became our largest credit union customer for mortgage with an expanded commitment to continue efficiently scaling their mortgage business.

Stock Repurchase Programs

In the second quarter ended July 31, 2026, nCino repurchased approximately 4.2 million shares of the Company’s outstanding common stock in open market purchases, at an average price of $15.41 per share, for total consideration of approximately $65 million. Additionally, in the second quarter, the Company finalized the accelerated share repurchase program announced on March 31, 2026. Under that program, nCino repurchased approximately 6.0 million shares of the Company’s outstanding common stock, at an average price of $16.57 per share, for total consideration of $100 million.
nCino’s Board of Directors has authorized an additional $100 million share repurchase program. Under the repurchase program, the Company may make repurchases, from time to time, through open market purchases, block trades, in privately negotiated transactions, accelerated stock repurchase transactions, or by other means. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases under this authorization. The volume, price, timing, and manner of any repurchases will be determined at the Company’s discretion, subject to general market conditions, as well as the Company’s management of capital, general business conditions, other investment opportunities, regulatory requirements and other factors. The repurchase program does not obligate the Company to repurchase any specific amount of common stock, has no time limit, and may be modified, suspended, or discontinued at any time without notice at the discretion of nCino’s Board of Directors. The Company currently expects to fund the repurchase program from existing cash and cash equivalents, credit facility capacity and/or future cash flows.

Financial Outlook

nCino is providing guidance for its third quarter ending October 31, 2026, as follows:

Total revenues between $161.25 million and $163.25 million.
Subscription revenues between $143.25 million and $145.25 million.
Non-GAAP operating income between $42.0 million and $44.0 million.

nCino is providing guidance for its fiscal year 2027 ending January 31, 2027, as follows:

Total revenues between $644.0 million and $647.0 million.
Subscription revenues between $573.5 million and $576.5 million.
Non-GAAP operating income between $171.0 million and $174.0 million.
Free Cash Flow between $137.0 million and $142.0 million.
Annual Contract Value (ACV) at period end between $662.5 million and $667.5 million.

Conference Call

nCino will host a conference call at 4:30 p.m. ET today to discuss its financial results and outlook. The conference call will be available via live webcast and replay at the Investor Relations section of nCino’s website: https://investor.ncino.com/news-events/events-and-presentations.

About nCino

nCino (NASDAQ: NCNO) is the platform for agentic banking. With over 2,700 customers worldwide – including community banks, credit unions, independent mortgage banks, and the largest financial entities globally – nCino offers a trusted agentic platform purpose-built for financial services and regulated industries. By deploying AI agents alongside human teams, nCino’s dual workforce enables institutions to eliminate inefficiencies, sharpen decision-making and deliver better outcomes for the customers they serve. For more information, visit
www.ncino.com.
.
INVESTOR CONTACT
[email protected]

MEDIA CONTACT 
[email protected]

Forward-Looking Statements: This press release contains forward-looking statements about nCino’s financial and operating results, which include statements regarding nCino’s future performance, outlook, guidance, the benefits from the use of nCino’s solutions, our strategies, and general business conditions. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “aim,” “anticipates,” “believes,” “continues,” “could,” “estimates,” “expects,” “goal,” “intends,” “may,” “might,” “plans,”, “potential,” “predicts,” “projects,” “seeks,” “should,” “strive,” “will,” or “would” or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations and are not representations that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such statements, including, but not limited to risks associated with (i) variations between our actual operating results compared to our prior guidance and the expectations of securities analysts, investors and the financial community; (ii) adverse changes in the financial services industry, including as a result of customer consolidation or bank failures; (iii) adverse changes in economic, regulatory, or market conditions, including as a direct or indirect consequence of higher interest rates; (iv) our ability to successfully develop, offer and drive customer acceptance of AI-driven solutions for the banking industry; (v) breaches in our security measures or unauthorized access to our customers’ or their clients’ data; (vi) the accuracy of management’s assumptions and estimates; (vii) our ability to attract new customers and succeed in having current customers expand their use of our solutions, including in connection with our migration to an asset-based pricing model; (viii) competitive factors, including pricing pressures and migration to asset-based pricing, consolidation among competitors, entry of new competitors, the launch of new products and marketing initiatives by our competitors, and difficulty securing rights to access or integrate with third party products or data used by our customers; (ix) the rate of adoption of our newer solutions and the results of our efforts to sustain or expand the use and adoption of our more established solutions; (x) fluctuation of our results of operations, which may make period-to-period comparisons less meaningful; (xi) our ability to manage our growth effectively including expanding outside of the United States; (xii) adverse changes in our relationship with Salesforce; (xiii) repurchases of our common stock under our stock repurchase programs or the decision to terminate or suspend any repurchases; (xiv) risks associated with the acquisitions we have completed or may undertake; (xv) the loss of one or more customers, particularly any of our larger customers, or a reduction in the scope of our customers’ commitments, including the number of users for which they purchase access and use rights and the assets or activity on which their subscriptions are based number of users our customers purchase access and use rights for; (xvi) system unavailability, system performance problems, or loss of data due to disruptions or other problems with our computing infrastructure or the infrastructure we rely on that is operated by third parties; and (xvii) our ability to maintain our corporate culture and attract and retain highly skilled employees.; (xviii) our level of indebtedness, our ability to service or refinance amounts outstanding under our credit facility, restrictions imposed by the terms of that facility, and our ability to fund repurchases of our common stock from existing cash, credit facility capacity, or future cash flows; (xix) evolving laws, regulations, and supervisory expectations applicable to artificial intelligence, and our dependence on third-party artificial intelligence models, infrastructure, and data, including the accuracy, reliability, and explainability of AI-generated output relied upon by our customers in regulated activities; (xx) fluctuations in foreign currency exchange rates. Additional information concerning these and other risks and uncertainties is contained in the “Risk Factors” section of nCino’s most recent Annual Report on Form 10-K and in its subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, which are available at www.sec.gov and on nCino’s investor relations website.

nCino, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)

	January 31, 2026			July 31, 2026

Assets
Current assets
Cash and cash equivalents	$	88,374		$	83,290
Accounts receivable, net		166,540			122,365
Costs capitalized to obtain revenue contracts, current portion, net		17,211			16,935
Prepaid expenses and other current assets		21,378			20,311
Total current assets		293,503			242,901
Property and equipment, net		75,607			73,636
Operating lease right-of-use assets, net		12,687			11,627
Costs capitalized to obtain revenue contracts, noncurrent, net		30,735			29,870
Goodwill		1,077,947			1,075,770
Intangible assets, net		135,658			117,392
Investments		7,262			7,262
Long-term prepaid expenses and other assets		14,707			13,295
Total assets	$	1,648,106		$	1,571,753
Liabilities, redeemable non-controlling interest, and stockholders’ equity
Current liabilities
Accounts payable	$	14,521		$	14,840
Accrued expenses and other current liabilities		64,372			39,215
Deferred revenue, current portion		210,552			218,810
Debt, current portion, net		—			9,803
Financing obligations, current portion		818			393
Operating lease liabilities, current portion		4,229			3,695
Total current liabilities		294,492			286,756
Operating lease liabilities, noncurrent		9,748			9,001
Deferred income taxes, noncurrent		7,020			8,014
Deferred revenue, noncurrent		170			3,106
Debt, noncurrent, net		213,500			265,557
Financing obligations, noncurrent		50,400			50,178
Other long-term liabilities		4,124			3,905
Total liabilities		579,454			626,517
Commitments and contingencies
Redeemable non-controlling interest		12,737			15,404
Stockholders’ equity
Common stock		59			60
Treasury stock, at cost		(125,600	)		(301,916	)
Additional paid-in capital		1,550,187			1,584,093
Accumulated other comprehensive income		7,042			3,340
Accumulated deficit		(375,773	)		(355,745	)
Total stockholders’ equity		1,055,915			929,832
Total liabilities, redeemable non-controlling interest, and stockholders’ equity	$	1,648,106		$	1,571,753

nCino, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share data) (Unaudited)

	Three Months Ended July 31,						Six Months Ended July 31,
		2025			2026			2025			2026
Revenues
Subscription	$	130,752		$	143,462		$	256,340		$	284,391
Professional services and other		18,063			17,539			36,612			36,024
Total revenues		148,815			161,001			292,952			320,415
Cost of revenues
Subscription		37,992			39,927			74,117			79,171
Professional services and other		22,698			20,303			44,268			39,535
Total cost of revenues		60,690			60,230			118,385			118,706
Gross profit		88,125			100,771			174,567			201,709
Gross margin %		59	%		63	%		60	%		63	%
Operating expenses
Sales and marketing		37,265			36,948			70,236			70,673
Research and development		34,667			31,030			68,008			59,895
General and administrative		25,489			19,179			47,132			36,408
Total operating expenses		97,421			87,157			185,376			166,976
Income (loss) from operations		(9,296	)		13,614			(10,809	)		34,733
Non-operating income (expense)
Interest income		513			274			930			640
Interest expense		(4,444	)		(5,214	)		(8,894	)		(9,695	)
Other income (expense), net		717			(750	)		16,814			(1,083	)
Income (loss) before income taxes		(12,510	)		7,924			(1,959	)		24,595
Income tax provision		1,209			1,526			5,743			3,206
Net income (loss)		(13,719	)		6,398			(7,702	)		21,389
Net income (loss) attributable to redeemable non-controlling interest		(74	)		714			2			1,361
Adjustment attributable to redeemable non-controlling interest		1,612			603			1,991			1,306
Net income (loss) attributable to nCino, Inc.	$	(15,257	)	$	5,081		$	(9,695	)	$	18,722
Net income (loss) per share attributable to nCino, Inc.:
Basic	$	(0.13	)	$	0.05		$	(0.08	)	$	0.18
Diluted	$	(0.13	)	$	0.05		$	(0.08	)	$	0.18
Weighted average number of common shares outstanding:
Basic		115,256,497			104,885,480			114,657,339			104,350,762
Diluted		115,256,497			105,361,192			114,657,339			105,066,581

nCino, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited)

	Six Months Ended July 31,
		2025			2026
Cash flows from operating activities
Net income (loss) attributable to nCino, Inc.	$	(9,695	)	$	18,722
Net income and adjustment attributable to redeemable non-controlling interest		1,993			2,667
Net income (loss)		(7,702	)		21,389
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		21,407			20,139
Non-cash operating lease costs		2,273			1,818
Amortization of costs capitalized to obtain revenue contracts		7,230			9,276
Amortization of debt issuance costs		144			209
Stock-based compensation		34,430			31,906
Change in fair value of contingent consideration		300			300
Deferred income taxes		4,003			1,329
Provision for bad debt		153			193
Net foreign currency losses (gains)		(14,018	)		238
Gains on investments		(1,652	)		—
Loss on disposal of long-lived assets		463			91
Change in operating assets and liabilities:
Accounts receivable		51,837			42,920
Costs capitalized to obtain revenue contracts		(6,639	)		(8,357	)
Prepaid expenses and other assets		1,629			1,600
Accounts payable		660			336
Accrued expenses and other liabilities		(16,368	)		(17,942	)
Deferred revenue		(3,411	)		11,996
Operating lease liabilities		(2,606	)		(2,019	)
Other long term liabilities		(77	)		182
Net cash provided by operating activities		72,056			115,604
Cash flows from investing activities
Acquisition of business, net of cash acquired		(50,263	)		—
Purchases of property and equipment		(6,866	)		(809	)
Sale of investment		3,684			—
Net cash used in investing activities		(53,445	)		(809	)
Cash flows from financing activities
Repurchases of common stock		(60,598	)		(175,659	)
Proceeds from borrowings on revolving credit facility		102,500			15,000
Payments on revolving credit facility		(65,000	)		(150,000	)
Proceeds from term loan, net of debt issuance costs		—			199,294
Payments on term loan		—			(2,500	)
Exercise of stock options		1,294			1,162
Stock issuance under the employee stock purchase plan		2,444			2,145
Principal payments on financing obligations		(824	)		(647	)
Payment of contingent consideration		—			(8,100	)
Net cash used in financing activities		(20,184	)		(119,305	)
Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash		3,529			(571	)
Net increase (decrease) in cash, cash equivalents, and restricted cash		1,956			(5,081	)
Cash, cash equivalents, and restricted cash, beginning of period		121,267			88,685
Cash, cash equivalents, and restricted cash, end of period	$	123,223		$	83,604


	Six Months Ended July 31,
		2025			2026
Reconciliation of cash, cash equivalents, and restricted cash, end of period:
Cash and cash equivalents	$	122,935		$	83,290
Restricted cash included in prepaid expenses and other current assets		132			314
Restricted cash included in long-term prepaid expenses and other assets		156			—
Total cash, cash equivalents, and restricted cash, end of period	$	123,223		$	83,604

Non-GAAP Financial Measures

In nCino’s public disclosures, nCino has provided non-GAAP measures, which are measurements of financial performance that have not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. In addition to its GAAP measures, nCino uses these non-GAAP financial measures internally for budgeting and resource allocation purposes and in analyzing our financial results. For the reasons set forth below, nCino believes that excluding the following items provides information that is helpful in understanding our operating results, evaluating our future prospects, comparing our financial results across accounting periods, and comparing our financial results to our peers, many of which provide similar non-GAAP financial measures.

Amortization of Purchased Intangibles. nCino incurs amortization expense for purchased intangible assets in connection with certain mergers and acquisitions. Because these costs have already been incurred, cannot be recovered, are non-cash, and are affected by the inherent subjective nature of purchase price allocations, nCino excludes these expenses for our internal management reporting processes. nCino’s management also finds it useful to exclude these charges when assessing the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Although nCino excludes amortization expense for purchased intangibles from these non-GAAP measures, management believes it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation.
Stock-Based Compensation Expenses. nCino excludes stock-based compensation expenses primarily because they are non-cash expenses that nCino excludes from our internal management reporting processes. nCino’s management also finds it useful to exclude these expenses when they assess the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Moreover, because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use, nCino believes excluding stock-based compensation expenses allows investors to make meaningful comparisons between our recurring core business operating results and those of other companies.
Transaction-Related Expenses. nCino excludes expenses related to mergers and acquisitions or divestitures as they limit comparability of operating results with prior periods. Transaction-related expenses include but are not limited to, costs incurred from third-party professional services firms, change in fair value of contingent consideration, and one-time integration activities. We believe these costs are non-recurring in nature and outside the ordinary course of business.
Litigation Expenses. nCino excludes fees and expenses related to litigation expenses incurred from legal matters outside the ordinary course of our business as we believe their exclusion from non-GAAP operating expenses will facilitate a more meaningful explanation of operating results and comparisons with prior period results.
Restructuring Costs. nCino excludes costs incurred related to bespoke restructuring plans and other one-time costs, if any, that are fundamentally different in strategic nature and frequency from ongoing initiatives. We believe excluding these costs facilitates a more consistent comparison of operating performance over time.

There are limitations to using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures provided by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by nCino’s management about which items are adjusted to calculate its non-GAAP financial measures. nCino compensates for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in its public disclosures. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. nCino encourages investors and others to review our financial information in its entirety, not to rely on any single financial measure to evaluate our business, and to view our non-GAAP financial measures in conjunction with the most directly comparable GAAP financial measures. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables below.

nCino, Inc. RECONCILIATION OF GAAP TO NON-GAAP MEASURES (In thousands, except share and per share data) (Unaudited)

	Three Months Ended July 31,						Six Months Ended July 31,
		2025			2026			2025			2026
GAAP total revenues	$	148,815		$	161,001		$	292,952		$	320,415

GAAP cost of subscription revenues	$	37,992		$	39,927		$	74,117		$	79,171
Amortization expense – developed technology		(5,115	)		(5,112	)		(10,190	)		(10,225	)
Stock-based compensation		(830	)		(697	)		(1,494	)		(1,352	)
Restructuring charges		(496	)		—			(496	)		—
Non-GAAP cost of subscription revenues	$	31,551		$	34,118		$	61,937		$	67,594

GAAP cost of professional services and other revenues	$	22,698		$	20,303		$	44,268		$	39,535
Amortization expense – other		(83	)		—			(165	)		—
Stock-based compensation		(3,315	)		(3,276	)		(6,069	)		(5,900	)
Restructuring charges		(722	)		—			(722	)		—
Non-GAAP cost of professional services and other revenues	$	18,578		$	17,027		$	37,312		$	33,635

GAAP gross profit	$	88,125		$	100,771		$	174,567		$	201,709
Amortization expense – developed technology		5,115			5,112			10,190			10,225
Amortization expense – other		83			—			165			—
Stock-based compensation		4,145			3,973			7,563			7,252
Restructuring charges		1,218			—			1,218			—
Non-GAAP gross profit	$	98,686		$	109,856		$	193,703		$	219,186

The following table sets forth reconciling items as a percentage of total revenue for the periods presented.¹
GAAP gross margin %		59	%		63	%		60	%		63	%
Amortization expense – developed technology		3			3			3			3
Stock-based compensation		3			2			3			2
Restructuring charges		1			—			—			—
Non-GAAP gross margin %		66	%		68	%		66	%		68	%

GAAP sales & marketing expense	$	37,265		$	36,948		$	70,236		$	70,673
Amortization expense – customer relationships		(3,631	)		(3,641	)		(7,211	)		(7,284	)
Amortization expense – trade name		(384	)		—			(808	)		(9	)
Amortization expense – other		(28	)		(28	)		(56	)		(56	)
Stock-based compensation		(3,746	)		(4,097	)		(6,674	)		(7,258	)
Transaction-related expenses		—			—			(335	)		—
Restructuring charges		(1,383	)		—			(1,383	)		—
Non-GAAP sales & marketing expense	$	28,093		$	29,182		$	53,769		$	56,066

GAAP research & development expense	$	34,667		$	31,030		$	68,008		$	59,895
Stock-based compensation		(3,685	)		(4,262	)		(7,800	)		(7,331	)
Transaction-related expenses		(366	)		(264	)		(456	)		(622	)
Restructuring charges		(4,026	)		—			(4,026	)		—
Non-GAAP research & development expense	$	26,590		$	26,504		$	55,726		$	51,942

GAAP general & administrative expense	$	25,489		$	19,179		$	47,132		$	36,408
Stock-based compensation		(7,040	)		(5,670	)		(12,393	)		(10,065	)
Transaction-related expenses		(1,018	)		(169	)		(1,933	)		(506	)
Restructuring charges		(3,438	)		—			(3,438	)		—
Non-GAAP general & administrative expense	$	13,993		$	13,340		$	29,368		$	25,837

GAAP income (loss) from operations	$	(9,296	)	$	13,614		$	(10,809	)	$	34,733
Amortization of intangible assets		9,241			8,781			18,430			17,574
Stock-based compensation		18,616			18,002			34,430			31,906
Transaction-related expenses		1,384			433			2,724			1,128
Restructuring charges		10,065			—			10,065			—
Non-GAAP operating income	$	30,010		$	40,830		$	54,840		$	85,341

The following table sets forth reconciling items as a percentage of total revenue for the periods presented.¹
GAAP operating margin %		(6	)%		8	%		(4	)%		11	%
Amortization of intangible assets		6			5			6			5
Stock-based compensation		13			11			12			10
Transaction-related expenses		1			—			1			—
Restructuring charges		7			—			3			—
Non-GAAP operating margin %		20	%		25	%		19	%		27	%

Free cash flow
Net cash provided by operating activities	$	17,736		$	34,199		$	72,056		$	115,604
Purchases of property and equipment		(5,148	)		(195	)		(6,866	)		(809	)
Free cash flow	$	12,588		$	34,004		$	65,190		$	114,795
Principal payments on financing obligations²		(414	)		(326	)		(824	)		(647	)
Free cash flow less principal payments on financing obligations	$	12,174		$	33,678		$	64,366		$	114,148

¹Columns may not foot due to rounding.
²These amounts represent the non-interest component of payments towards financing obligations for facilities.

August 25, 2026 4:10 pm

Pega to Present at Upcoming Investor Conference

Pega to Present at Upcoming Investor Conference

WALTHAM, Mass.–(BUSINESS WIRE)–Pegasystems Inc. (NASDAQ: PEGA), the enterprise AI software company for mission-critical work, today announced that Ken Stillwell, COO and CFO, will be presenting at the following upcoming investor conference:

Citi 2026 Global TMT Conference

(https://kvgo.com/2026-global-tmt-conference/pegasystems-sep-2026).

Ken Stillwell will host an in-person Pega presentation, scheduled for Tuesday, September 8, 2026, at 1:55 p.m. EDT (10:55 a.m. PDT) in New York, NY.

An archive of the presentation will be available from the Investors page of Pega’s website for a limited time.

About Pega

Pega delivers the platform to reimagine, run, and evolve the processes and decisions an enterprise can’t afford to get wrong. We combine AI with proven architecture to keep mission-critical operations governed, scalable, and continuously adaptable. Since 1983, the world’s largest organizations have trusted Pega to turn transformation ambition into durable results. Learn more at pega.com.

All trademarks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260825424153/en/

Press Contact:

Ilena Ryan

Director of PR

[email protected]

617-866-6722

Investor Contact:

Peter Welburn

VP, Corporate Development & Investor Relations

[email protected]

617-498-8968

KEYWORDS: New York Massachusetts United States North America

INDUSTRY KEYWORDS: Other Manufacturing Technology Professional Services Manufacturing Software Internet Data Management Other Professional Services Artificial Intelligence

MEDIA:

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August 25, 2026 4:10 pm

Electromed Announces CEO’s Planned Retirement

Electromed Announces CEO’s Planned Retirement

NEW PRAGUE, Minn.–(BUSINESS WIRE)–
Electromed, Inc. (NYSE American: ELMD), a leader in innovative airway clearance technologies, today announced that Jim Cunniff expects to retire as President and Chief Executive Officer, on or about April 2, 2027. Upon his retirement, he will resign from the Company’s Board of Directors. The Board of Directors intends to conduct a national search for Electromed’s next President and Chief Executive Officer and has engaged an executive search firm to assist in the process.

Mr. Cunniff has served as the Company’s President and Chief Executive Officer and as a member of its Board of Directors since 2023. During his tenure, he has strengthened Electromed’s position as a leader in HFCWO airway clearance technology, has delivered consistent double-digit net revenues growth and significant operating margin expansion, which has led to improved shareholder value.

“It has been an honor to lead Electromed over the last three years. Our company just delivered its 15th consecutive quarter of year-over-year revenue and profit growth, has a talented and successful leadership team, and is well positioned for continued success. I look forward to working with the board and management team over the coming months to identify an exemplary leader for our business and help ensure a successful transition.”

“On behalf of the board, I would like to thank Jim for his positive impact on our business, the patients we serve, and our shareholders during his tenure as CEO and a member of our board,” said Kathleen Skarvan, Chair of the Board of Directors. “The board is committed to selecting a world-class successor, and we are grateful to have his continued leadership and guidance throughout this transition process.”

About Electromed, Inc.

Electromed, Inc. manufactures, markets, and sells products that provide airway clearance therapy, including the SmartVest® Airway Clearance System, to patients with compromised pulmonary function. It is headquartered in New Prague, Minnesota, and was founded in 1992. Further information about Electromed can be found at www.smartvest.com.

Cautionary Statements

Certain statements in this press release, including the timing and outcomes of potential executive transitions, constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as “expect,”“will,” and similar expressions, including the negative of these terms, but they are not the exclusive means of identifying such statements. Forward-looking statements cannot be guaranteed, and actual results may vary materially due to the uncertainties and risks, known or unknown, associated with such statements. Examples of risks and uncertainties for the company include, but are not limited to, our ability to obtain reimbursement from Medicare, Medicaid, or private insurance payers for our products; component or raw material shortages, changes to lead times or significant price increases, inflationary trends in electronic components, and uncertainty related to trade regulations (including, but not limited to, changes to tariffs); adverse changes to state and federal health care regulations; our ability to maintain regulatory compliance and to gain future regulatory approvals and clearances; entry of new competitors including new drug or pharmaceutical discoveries; adverse economic and business conditions or intense competition; wage and component price inflation; rising energy costs and geopolitical conflict; technical problems with our research and products; the risks associated with cyberattacks, data breaches, computer viruses and other similar security threats; changes affecting the medical device industry; our ability to develop new sales channels for our products such as the hospital or homecare distributor channels; adverse international health care regulation impacting current international business; our ability to renew our line of credit or obtain additional credit as necessary; and our ability to protect and expand our intellectual property portfolio,as well as other factors we may describe from time to time in the company’s reports filed with the Securities and Exchange Commission (including the company’s most recent Annual Report on Form 10-K, as amended from time to time, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K). Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions investors should take into account when making investment decisions. Shareholders and other readers should not place undue reliance on “forward-looking statements,” as such statements speak only as of the date of this press release. We undertake no obligation to update them in light of new information or future events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260825428484/en/

Brad Nagel, Chief Financial Officer

(952) 758-9299

[email protected]

Mike Cavanaugh, Investor Relations

ICR Westwicke

(617) 877-9641

[email protected]

KEYWORDS: Minnesota United States North America

INDUSTRY KEYWORDS: Medical Devices Other Health Health Physical Therapy Medical Supplies

MEDIA:

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Posted on August 25, 2026 4:10 pm
Liftoff to Present at the Goldman Sachs Communacopia + Technology Conference 2026

REDWOOD CITY, Calif., Aug. 25, 2026 (GLOBE NEWSWIRE) — Liftoff Mobile, Inc. (“Liftoff”) (NASDAQ: LFTO), a global leader in performance marketing and monetization solutions for the app economy, today announced that Jeremy Bondy, Chief Executive Officer, will present at the Goldman Sachs Communacopia + Technology Conference on Tuesday, September 8th, 2026 at 4:45pm ET (1:45pm PT) in San Francisco.

A replay of the event will be accessible on the Company’s Investor Relations website at https://investors.liftoff.ai under the News & Events section.

About Liftoff

Liftoff (NASDAQ: LFTO) is a leading growth and monetization engine built for the mobile app economy. Its AI-powered platform, Cortex®, unifies marketing, creative, and monetization to deliver measurable performance at scale across the app lifecycle. Liftoff enables advertisers to unlock profitable user growth while helping app publishers maximize revenue with advanced ad monetization technology. Founded in 2012 and headquartered in Redwood City, California, Liftoff supports a diverse, global customer base across gaming, consumer, and emerging app categories.

Contacts

Investor Relations

Jenn Kettnich
[email protected]

Media Relations

Laura Wilkinson
[email protected]

Posted on August 25, 2026 4:10 pm
Box Reports Second Quarter Fiscal 2027 Financial Results

Box Reports Second Quarter Fiscal 2027 Financial Results

Revenue of $321.1 million, up 9%, or 11% on a constant currency basis

Remaining Performance Obligations of $1.7 billion, up 15%, or 17% on a constant currency basis

GAAP Operating Margin of 10.2% and Non-GAAP Operating Margin 29.4%

GAAP Net Income Per Share of $0.09 and Non-GAAP Net Income Per Share of $0.40

REDWOOD CITY, Calif.–(BUSINESS WIRE)–
Box, Inc. (NYSE:BOX), the leading Intelligent Content Management (“ICM”) platform, today announced preliminary financial results for the second quarter of fiscal year 2027, which ended July 31, 2026.

“Box delivered exceptional second quarter results, continuing our strong momentum accelerated by the rapid adoption of Enterprise Advanced,” said Aaron Levie, co-founder and CEO of Box. “As enterprises deploy AI agents that require secure, well-governed unstructured data for critical context, Box is uniquely positioned as the model-neutral platform of choice. Instead of fragmenting workflows across multiple systems, our customers get a singular platform with enterprise-grade security and control where they can seamlessly connect their content to the world’s leading AI models with Box and third-party agents. We are incredibly excited about our product momentum and the massive opportunity ahead.”

“Q2 results demonstrate strong execution, with revenue, billings, and operating margin all exceeding our expectations,” said Dylan Smith, co-founder and CFO of Box. “Net retention rate improved to 106%, and Enterprise Advanced continues to be a key driver of growth, with revenue in constant currency accelerating for a fifth quarter in a row. We believe Box’s Intelligent Content Management platform positions us well to deliver durable, long-term growth as enterprises increasingly look to us to securely power AI with context from their content.”

Fiscal Second Quarter Financial Highlights

All comparisons are against the prior year comparable quarter

Record revenue of $321.1 million, up 9%, or 11% on a constant currency basis.

Remaining performance obligations (“RPO”) of $1.7 billion, up 15%, or 17% on a constant currency basis. Short-term RPO of $904.7 million, up 11%, or 14% on a constant currency basis. Long-term RPO of $787.0 million, up 18%, or 22% on a constant currency basis.

Billings of $309.5 million, up 17%, or 16% on a constant currency basis.

Record GAAP gross profit of $254.0 million, or 79.1% of revenue, up from $232.5 million, or 79.1% of revenue.

Record non-GAAP gross profit of $260.7 million, or 81.2% of revenue, up from $239.2 million, or 81.4% of revenue.

Record GAAP operating income of $32.6 million, or 10.2% of revenue, up from $20.6 million, or 7.0% of revenue.

Record non-GAAP operating income of $94.5 million, or 29.4% of revenue, up from $84.0 million, or 28.6% of revenue.

GAAP diluted earnings per share (“EPS”) of $0.09, compared to $0.05, impacted by $0.04 from unfavorable foreign currency exchange rates.

Non-GAAP diluted EPS of $0.40, compared to $0.33, impacted by $0.04 from unfavorable foreign currency exchange rates.

Net cash provided by operating activities of $70.8 million, up 54%.

Non-GAAP free cash flow of $59.7 million, up 67%.

Growth on a constant currency basis and impact from foreign exchange is determined by comparing current period reported results with the current results calculated using the equivalent rates in the prior period, excluding the effect of hedging.

For more information on the non-GAAP financial measures and key metrics discussed in this press release, please see the section titled, “About Non-GAAP Financial Measures and Other Key Metrics,” and the reconciliations of non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures at the end of this press release.

Recent Business Highlights

Delivered wins or expansions with leading organizations across a variety of industries, including Automotive (Toyota Motor Corporation), Consumer Packaged Goods (Hasbro and The North Face), Financial Services (Piper Sandler Companies and Citizens Business Bank), Legal (McDermott Will & Schulte and Wilson Sonsini), Life Sciences (Argenx and Novartis), Public Sector (California Department of Justice and Federal Communications Commission), and Technology (Red Hat and Siemens).

Announced new security capabilities designed to give organizations greater control over AI agents working with enterprise content, including new agent guardrails, third-party agent activity oversight, prompt injection detection, agent classification-based access policies, and more.

Announced the expansion of Box Zones, adding new Zones in Switzerland, Israel, and Singapore, while enhancing France and Canada Zones with additional in-region compute capabilities.

Released new Admin AI Insights to help optimize customer AI usage and enable clear, thoughtful planning that makes AI predictable.

Served as an early launch partner and announced support for Anthropic’s Opus 5, Opus 4.8, Claude Sonnet 5 & Claude Fable 5; Google’s Gemini 3.7 Flash, 3.5 Flash, and 3.5 Flash-Lite; OpenAI’s GPT-5.6; and Meta’s Muse Spark 1.1.

Announced new MCP integrations with Anthropic’s Claude for Legal, Databricks, Figma’s Design Agent, Harvey, IBM’s Watsonx Orchestrate Agent Catalog, Notion Custom Agents, Slack’s Slackbot, and SpaceXAI’s Grok.

Joined the Open Secure AI Alliance alongside NVIDIA and a broad coalition of industry leaders, as part of an initiative built on the Linux Foundation and OpenSSF community.

Update on Share Repurchase Plan

In the second quarter of fiscal year 2027, Box repurchased 2.6 million shares for approximately $66 million. As of July 31, 2026, approximately $378 million of buyback capacity was remaining under Box’s current share repurchase plan. Box remains committed to opportunistically returning capital to its shareholders through an ongoing stock repurchase program.

Outlook

Approximately 35% of Box’s revenue is generated outside of the U.S., of which approximately 70% is in Japanese Yen. The following guidance includes the expected impact of FX headwinds, assuming present foreign currency exchange rates.

All forward-looking non-GAAP financial measures contained in this section titled “Outlook” exclude estimates for stock-based compensation expense, acquired intangible assets amortization, and as applicable, other special items. Box has provided a reconciliation of GAAP to non-GAAP net income per share and operating margin guidance at the end of this press release.

Q3 FY27 Guidance

Revenue is expected to be approximately $329 million, up 9% year-over-year, or 11% on a constant currency basis. This includes an expected headwind of approximately 170 basis points due to FX.

GAAP operating margin is expected to be approximately 10.0% and non-GAAP operating margin is expected to be approximately 28.0%. This includes an expected headwind of approximately 80 basis points due to FX.

GAAP net income per share attributable to common stockholders is expected to be approximately $0.12. This includes an expected headwind of approximately $0.02 due to FX.

Non-GAAP diluted net income per share attributable to common stockholders is expected to be approximately $0.39. This includes an expected headwind of approximately $0.02 due to FX.

Weighted-average diluted shares outstanding are expected to be approximately 142 million.

Full Year FY27

Revenue is expected to be approximately $1.290 billion, up 10% year-over-year, or 11% on a constant currency basis. This includes an expected headwind of approximately 100 basis points due to FX.

GAAP operating margin is expected to be approximately 9.5% and non-GAAP operating margin is expected to be approximately 28.0%. This includes an expected headwind of approximately 80 basis points due to FX.

GAAP net income per share attributable to common stockholders is expected to be approximately $0.38. GAAP EPS guidance includes an expected headwind of $0.09 due to FX, which is $0.01 higher than prior expectations, and an expected headwind of $0.02 due to an increase in expected weighted-average diluted shares outstanding.

Non-GAAP diluted net income per share attributable to common stockholders is expected to be approximately $1.54. Non-GAAP EPS guidance includes an expected headwind of $0.09 due to FX, which is $0.01 higher than prior expectations, and an expected headwind of $0.02 due to an increase in expected weighted-average diluted shares outstanding.

Weighted-average diluted shares outstanding are expected to be approximately 141 million.

Webcast and Conference Call Information

Box’s management team will host a conference call today beginning at 2:00 p.m. (PT) / 5:00 p.m. (ET) to discuss Box’s financial results, business highlights and future outlook. A live audio webcast of this call will be available through Box’s Investor Relations website at www.boxinvestorrelations.com for a period of 90 days after the date of the call. Prepared remarks will be available on the Box Investor Relations website after the call ends.

The conference call can be accessed by registering online at https://events.q4inc.com/attendee/428395900 at which time registrants will receive dial-in information as well as a conference ID.

Box has used, and intends to continue to use, its Investor Relations website (www.box.com/investors), as well as certain X accounts (@box and @levie), as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Information on or that can be accessed through Box’s Investor Relations website, these X accounts, or that is contained in any website to which a hyperlink is provided herein is not part of this press release, and the inclusion of Box’s Investor Relations website address, these X accounts, and any hyperlinks are only inactive textual references.

This press release, the financial tables, as well as other supplemental information including the reconciliations of non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures, are also available on Box’s Investor Relations website. Box also provides investor information, including news and commentary about Box’s business and financial performance, Box’s filings with the Securities and Exchange Commission, notices of investor events and Box’s press and earnings releases, on Box’s Investor Relations website.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions, including statements regarding Box’s expectations regarding its growth and profitability, the size of its market opportunity, its investments in go-to-market programs, the demand for its products, the potential of AI and its impact on Box, the timing of recent and planned product introductions, enhancements and integrations, the short- and long-term success, market adoption and retention, capabilities, and benefits of such product introductions and enhancements, the success of strategic partnerships and acquisitions, the impact of macroeconomic conditions on its business, its ability to grow and scale its business and drive operating efficiencies, the impact of fluctuations in foreign currency exchange rates on its future results, its net retention rate, its ability to achieve revenue targets and billings expectations, its revenue and billings growth rates, its ability to expand operating margins, its long-term financial targets, its ability to maintain profitability on a quarterly or ongoing basis, its free cash flow, its ability to continue to grow unrecognized revenue and remaining performance obligations, its revenue, billings, GAAP and non-GAAP gross margins, GAAP and non-GAAP net income per share, GAAP and non-GAAP operating margins, the related components of GAAP and non-GAAP net income per share, weighted-average outstanding share count expectations for Box’s fiscal third quarter and full fiscal year 2027 in the section titled “Outlook” above, equity burn rate, any potential repurchase of its common stock, whether, when, in what amount and by what method any such repurchase would be consummated, and the share price of any such repurchase. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: (1) adverse changes in general economic or market conditions, including those caused by changes in tariffs, sanctions, international treaties, export/import laws and other trade restrictions, the Russia-Ukraine conflict and the ongoing conflicts in the Middle East, inflation, and fluctuations in foreign currency exchange rates; (2) delays or reductions in information technology spending; (3) factors related to Box’s highly competitive market, including but not limited to pricing pressures, industry consolidation, entry of new competitors and new applications and marketing initiatives by Box’s current or future competitors; (4) the development of the intelligent content management market; (5) the risk that Box’s customers do not renew their subscriptions, expand their use of Box’s services, or adopt new products offered by Box on a timely basis, or at all; (6) Box’s ability to provide timely and successful enhancements, integrations, new features and modifications to its platform and services; (7) actual or perceived security vulnerabilities in Box’s services or any breaches of Box’s security controls; (8) Box’s ability to realize the expected benefits of its third-party partnerships; and (9) Box’s ability to successfully integrate acquired businesses and achieve the expected benefits from those acquisitions. In addition, the preliminary financial results set forth in this release are estimates based on information currently available to Box. While Box believes these estimates are meaningful, they could differ from the actual amounts that Box ultimately reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2026. Box assumes no obligations and does not intend to update these estimates prior to filing its Form 10-Q for the fiscal quarter ended July 31, 2026.

Additional information on potential factors that could affect Box’s financial results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings Box makes with the Securities and Exchange Commission from time to time, including the Quarterly Report on Form 10-Q filed for the fiscal quarter ended April 30, 2026. These documents are available on the SEC Filings section of Box’s Investor Relations website located at www.boxinvestorrelations.com. Box does not assume any obligation to update the forward-looking statements contained in this press release to reflect events that occur or circumstances that exist after the date on which they were made.

About Non-GAAP Financial Measures and Other Key Metrics

To supplement Box’s consolidated financial statements, which are prepared and presented in accordance with GAAP, Box provides investors with certain non-GAAP financial measures and other key metrics, including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income attributable to common stockholders, non-GAAP net income per share attributable to common stockholders, billings, remaining performance obligations, non-GAAP free cash flow and free cash flow margin. The presentation of these non-GAAP financial measures and key metrics is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures and key metrics, please see the reconciliation of these non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures at the end of this press release.

Box uses these non-GAAP financial measures and key metrics for financial and operational decision-making (including for purposes of determining variable compensation of members of management and other employees) and as a means to evaluate period-to-period comparisons. Box’s management believes that these non-GAAP financial measures and key metrics provide meaningful supplemental information regarding Box’s performance by excluding certain expenses that may not be indicative of Box’s recurring core business operating results. Box believes that both management and investors benefit from referring to these non-GAAP financial measures and key metrics in assessing Box’s performance and when planning, forecasting, and analyzing future periods. These non-GAAP financial measures and key metrics also facilitate management’s internal comparisons to Box’s historical performance as well as comparisons to Box’s competitors’ operating results. Box believes these non-GAAP financial measures and key metrics are useful to investors both because they (1) allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) are used by Box’s institutional investors and the analyst community to help them analyze the health of Box’s business.

A limitation of non-GAAP financial measures and key metrics is that they do not have uniform definitions. Further, Box’s definitions will likely differ from the definitions used by other companies, including peer companies, and therefore comparability may be limited. Thus, Box’s non-GAAP financial measures and key metrics should be considered in addition to, and not as a substitute for, or in isolation from, measures prepared in accordance with GAAP. Additionally, in the case of stock-based compensation expense, if Box did not pay a portion of compensation in the form of stock-based compensation expense, the cash salary expense included in cost of revenue and operating expenses would be higher, which would affect Box’s cash position. The accompanying tables have more details on the reconciliations of non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures.

Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income attributable to common stockholders, and non-GAAP net income per share attributable to common stockholders. Box defines these non-GAAP financial measures as the respective GAAP measures, excluding expenses related to stock-based compensation (“SBC”), acquired intangible assets amortization, and as applicable, other special items. Although SBC is an important aspect of the compensation of Box’s employees and executives, determining the fair value of certain of the stock-based instruments Box utilizes estimation and the expense recorded may bear little resemblance to the actual value realized upon the vesting or future exercise of the related stock-based awards. Management believes it is useful to exclude SBC in order to better understand the long-term performance of Box’s core business and to facilitate comparison of Box’s results to those of peer companies. Management also views amortization of acquired intangible assets, such as the amortization of the cost associated with an acquired company’s developed technology and trade names, as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are continually evaluated for impairment, amortization of the cost of purchased intangibles is a static expense that is not typically affected by operations during any particular period. Box excludes the following expenses as they are considered by management to be special items outside of Box’s core operating results: (1) expenses related to certain litigation, (2) expenses associated with a non-recurring workforce reorganization, consisting primarily of severance and other personnel-related costs, and (3) expenses related to acquisitions. In addition to these expenses, Box excludes the following items to calculate non-GAAP net income attributable to common stockholders: (1) amortization of debt issuance costs, (2) induced conversion of convertible notes, (3) the income tax benefit from the release of a valuation allowance on deferred tax assets, (4) non-recurring benefits of federal research and development (“R&D”) credits carryforwards and related uncertain tax positions, (5) the income tax effects of non-GAAP adjustments, and (6) undistributed earnings attributable to preferred stockholders. Non-GAAP gross margin and non-GAAP operating margin are defined as non-GAAP gross profit and non-GAAP operating income as a percentage of revenue, respectively. Non-GAAP net income per share attributable to common stockholders is defined as non-GAAP net income attributable to common stockholders divided by the weighted-average outstanding shares.

Billings. Billings reflect, in any particular period, (1) sales to new customers, plus (2) subscription renewals and (3) expansion within existing customers, and represent amounts invoiced for all products and professional services. Box calculates billings for a period by adding changes in deferred revenue and contract assets in that period to revenue. Box believes that billings help investors better understand sales activity for a particular period, which is not necessarily reflected in revenue as a result of the fact that Box recognizes subscription revenue ratably over the subscription term. Box considers billings a significant performance measure. Box monitors billings to manage the business, make planning decisions, evaluate performance and allocate resources. Box believes that billings offers valuable supplemental information regarding the performance of the business and helps investors better understand the sales volumes and performance of the business. Although Box considers billings to be a significant performance measure, Box does not consider it to be a non-GAAP financial measure because it is calculated using exclusively revenue, deferred revenue, and contract assets, all of which are financial measures calculated in accordance with GAAP.

Remaining performance obligations. Remaining performance obligations (“RPO”) represent, at a point in time, contracted revenue that has not yet been recognized. RPO consists of deferred revenue and backlog. Backlog is defined as non-cancellable contracts deemed certain to be invoiced and recognized as revenue in future periods. Future invoicing is determined to be certain when we have an executed non-cancellable contract or a significant penalty that is due upon cancellation. Short-term RPO consists of the portion that is expected to be recognized within the next 12 months. While Box believes RPO is a leading indicator of revenue as it represents sales activity not yet recognized in revenue, it is not necessarily indicative of future revenue growth as it is influenced by several factors, including seasonality, contract renewal timing, average contract terms and foreign currency exchange rates. Box monitors RPO to manage the business and evaluate performance. Box considers RPO to be a significant performance measure. Box does not consider RPO to be a non-GAAP financial measure because it is calculated in accordance with GAAP, specifically under ASC Topic 606.

Non-GAAP free cash flow and free cash flow margin. Box defines non-GAAP free cash flow as cash flows from operating activities less net capital expenditures (purchases of property and equipment less proceeds from sales of property and equipment), principal payments of finance lease liabilities, capitalized software development costs, and other items that did not or are not expected to require cash settlement and that management considers to be outside of Box’s core business. Free cash flow margin is calculated as non-GAAP free cash flow divided by revenue. Box specifically identifies adjusting items in the reconciliation of GAAP to non-GAAP financial measures. Box considers non-GAAP free cash flow to be a profitability and liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can possibly be used for investing in Box’s business and strengthening its balance sheet, but it is not intended to represent the residual cash flow available for discretionary expenditures. The presentation of non-GAAP free cash flow is also not meant to be considered in isolation or as an alternative to cash flows from operating activities as a measure of liquidity.

About Box

Box (NYSE:BOX) is the leader in Intelligent Content Management. Our platform enables organizations to fuel collaboration, manage the entire content lifecycle, secure critical content, and transform business workflows with enterprise AI. Founded in 2005, Box simplifies work for leading global organizations, including JLL, Morgan Stanley, and Nationwide. Box is headquartered in Redwood City, CA, with offices across the United States, Europe, and Asia. Visit box.com to learn more. And visit box.org to learn more about how Box empowers nonprofits to fulfill their missions.

BOX, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In Thousands)

(Unaudited)

July 31,

January 31,

2026

2026

ASSETS

Current assets:

Cash and cash equivalents

$

342,870

$

375,130

Short-term investments

101,266

102,932

Accounts receivable, net

213,682

325,136

Deferred commissions

44,465

46,102

Other current assets

55,587

41,973

Total current assets

757,870

891,273

Operating lease right-of-use assets, net

100,679

97,626

Goodwill

81,042

82,290

Deferred tax assets

268,144

283,997

Intangible assets, net

103,323

94,311

Other assets, non-current

93,176

96,563

Total assets

$

1,404,234

$

1,546,060

LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT

Current liabilities:

Accounts payable, accrued expenses and other current liabilities

$

84,848

$

96,983

Accrued compensation and benefits

41,388

57,791

Deferred revenue

589,540

647,893

Total current liabilities

715,776

802,667

Debt, net, non-current

452,212

451,011

Operating lease liabilities, non-current

73,146

76,970

Other liabilities, non-current

16,825

18,314

Total liabilities

1,257,959

1,348,962

Series A convertible preferred stock

497,421

496,376

Stockholders’ deficit:

Common stock

14

14

Additional paid-in capital

464,281

547,610

Accumulated other comprehensive loss

(5,628

)

(142

)

Accumulated deficit

(809,813

)

(846,760

)

Total stockholders’ deficit

(351,146

)

(299,278

)

Total liabilities, convertible preferred stock and stockholders’ deficit

$

1,404,234

$

1,546,060

BOX, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In Thousands, Except Per Share Data)

(Unaudited)

Three Months Ended

Six Months Ended

July 31,

July 31,

2026

2025

2026

2025

Revenue

$

321,147

$

293,999

$

627,088

$

570,271

Cost of revenue (1)

67,182

61,522

129,917

122,195

Gross profit

253,965

232,477

497,171

448,076

Operating expenses:

Research and development (1)

78,403

71,717

154,316

144,018

Sales and marketing (1)

106,719

102,198

208,589

201,297

General and administrative (1)

36,208

37,984

74,189

75,845

Total operating expenses

221,330

211,899

437,094

421,160

Income from operations

32,635

20,578

60,077

26,916

Interest income

2,814

6,715

5,800

13,413

Interest expense

(2,404

)

(2,680

)

(4,805

)

(5,376

)

Other (expense) income, net

(1,189

)

(872

)

(1,707

)

1,932

Income before income taxes

31,856

23,741

59,365

36,885

Provision for income taxes

12,635

10,296

22,418

15,246

Net income

$

19,221

$

13,445

$

36,947

$

21,639

Accretion and dividend on series A convertible preferred stock

(4,314

)

(4,312

)

(8,544

)

(8,540

)

Undistributed earnings attributable to preferred stockholders

(1,773

)

(1,036

)

(3,358

)

(1,488

)

Net income attributable to common stockholders

$

13,134

$

8,097

$

25,045

$

11,611

Net income per share attributable to common stockholders

Basic

$

0.10

$

0.06

$

0.18

$

0.08

Diluted

$

0.09

$

0.05

$

0.18

$

0.08

Weighted-average shares used to compute net income per share attributable to common stockholders

Basic

137,379

144,896

138,250

144,669

Diluted

139,719

151,102

139,914

150,369

(1) Includes stock-based compensation expense as follows:

Three Months Ended

Six Months Ended

July 31,

July 31,

2026

2025

2026

2025

Cost of revenue

$

6,453

$

5,666

$

12,393

$

10,498

Research and development

21,972

21,380

41,346

40,186

Sales and marketing

20,179

19,679

38,810

37,546

General and administrative

12,759

14,033

25,127

27,422

Total stock-based compensation

$

61,363

$

60,758

$

117,676

$

115,652

BOX, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands)

(Unaudited)

Three Months Ended

Six Months Ended

July 31,

July 31,

2026

2025

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$

19,221

$

13,445

$

36,947

$

21,639

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

Depreciation and amortization

9,926

7,730

19,187

14,626

Stock-based compensation expense

61,363

60,758

117,676

115,652

Amortization of deferred commissions

13,547

13,366

27,091

26,685

Deferred income taxes

6,644

6,990

14,137

9,519

Other

1,653

(3,368

)

3,094

(8,111

)

Changes in operating assets and liabilities:

Accounts receivable, net

(21,166

)

(14,575

)

109,691

105,779

Deferred commissions

(16,747

)

(12,790

)

(26,753

)

(21,358

)

Operating lease right-of-use assets, net

5,886

4,944

11,363

10,600

Other assets

(4,118

)

(4,004

)

(16,228

)

(7,765

)

Accounts payable, accrued expenses and other liabilities

11,369

(1,054

)

(16,172

)

(15,563

)

Operating lease liabilities

(7,748

)

(6,229

)

(14,415

)

(12,516

)

Deferred revenue

(8,985

)

(19,249

)

(54,582

)

(66,164

)

Net cash provided by operating activities

70,845

45,964

211,036

173,023

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of short-term investments

(23,743

)

(19,118

)

(50,906

)

(52,437

)

Maturities of short-term investments

20,820

20,550

52,945

52,200

Purchases of property and equipment, net of sale proceeds

(121

)

(1,863

)

(1,394

)

(2,174

)

Capitalized software costs

(10,985

)

(8,079

)

(20,822

)

(16,490

)

Net cash used in investing activities

(14,029

)

(8,510

)

(20,177

)

(18,901

)

CASH FLOWS FROM FINANCING ACTIVITIES:

Repurchases of common stock

(69,255

)

(39,924

)

(185,662

)

(89,583

)

Payments of dividends to preferred stockholders

(3,750

)

(3,750

)

(7,500

)

(7,500

)

Proceeds from issuances of common stock under employee stock purchase plan

—

—

15,883

16,654

Employee payroll taxes paid for net settlement of stock awards

(16,431

)

(22,553

)

(36,845

)

(47,343

)

Other

(1,150

)

951

(2,292

)

720

Net cash used in financing activities

(90,586

)

(65,276

)

(216,416

)

(127,052

)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

(2,293

)

(3,904

)

(6,841

)

6,373

Net (decrease) increase in cash, cash equivalents, and restricted cash

(36,063

)

(31,726

)

(32,398

)

33,443

Cash, cash equivalents, and restricted cash, beginning of period

380,353

691,279

376,688

626,110

Cash, cash equivalents, and restricted cash, end of period

$

344,290

$

659,553

$

344,290

$

659,553

BOX, INC.

RECONCILIATION OF GAAP TO NON-GAAP DATA

(In Thousands, Except Per Share Data and Percentages)

(Unaudited)

Three Months Ended

Six Months Ended

July 31,

July 31,

2026

2025

2026

2025

GAAP gross profit and gross margin

$

253,965

79.1

%

$

232,477

79.1

%

$

497,171

79.3

%

$

448,076

78.6

%

Stock-based compensation

6,453

2.0

5,666

2.0

12,393

2.0

10,498

1.8

Acquired intangible assets amortization

303

0.1

993

0.3

606

0.1

1,987

0.3

Workforce reorganization

—

—

45

—

—

—

939

0.2

Non-GAAP gross profit and gross margin

$

260,721

81.2

%

$

239,181

81.4

%

$

510,170

81.4

%

$

461,500

80.9

%

GAAP operating income and operating margin

$

32,635

10.2

%

$

20,578

7.0

%

$

60,077

9.6

%

$

26,916

4.7

%

Stock-based compensation

61,363

19.1

60,758

20.7

117,676

18.8

115,652

20.3

Acquired intangible assets amortization

303

0.1

993

0.3

606

0.1

1,987

0.4

Acquisition-related expenses

—

—

270

0.1

—

—

270

0.1

Expenses related to litigation

212

—

334

0.1

545

0.1

755

0.1

Workforce reorganization

—

—

1,052

0.4

272

—

8,175

1.4

Non-GAAP operating income and operating margin

$

94,513

29.4

%

$

83,985

28.6

%

$

179,176

28.6

%

$

153,755

27.0

%

GAAP net income and net income per share attributable to common stockholders, diluted

$

13,134

$

0.09

$

8,097

$

0.05

$

25,045

$

0.18

$

11,611

$

0.08

Stock-based compensation

61,363

0.44

60,758

0.40

117,676

0.84

115,652

0.77

Acquired intangible assets amortization

303

—

993

0.01

606

—

1,987

0.01

Acquisition-related expenses

—

—

270

—

—

—

270

—

Expenses related to litigation

212

—

334

—

545

—

755

0.01

Workforce reorganization

—

—

1,052

0.01

272

—

8,175

0.05

Amortization of debt issuance costs

615

0.01

888

0.01

1,227

0.01

1,779

0.01

Income tax effects of non-GAAP adjustments (1)

(14,239

)

(0.10

)

(17,231

)

(0.11

)

(27,390

)

(0.19

)

(34,470

)

(0.23

)

Undistributed earnings attributable to preferred stockholders

(5,738

)

(0.04

)

(5,339

)

(0.04

)

(10,990

)

(0.08

)

(10,694

)

(0.07

)

Non-GAAP net income and net income per share attributable to common stockholders, diluted

$

55,650

$

0.40

$

49,822

$

0.33

$

106,991

$

0.76

$

95,065

$

0.63

Weighted-average shares used to compute net income per share attributable to common stockholders, diluted

139,719

151,102

139,914

150,369

GAAP net cash provided by operating activities

$

70,845

$

45,964

$

211,036

$

173,023

Purchases of property and equipment, net of sale proceeds

(121

)

(1,863

)

(1,394

)

(2,174

)

Capitalized software costs

(10,985

)

(8,381

)

(22,155

)

(16,792

)

Non-GAAP free cash flow

$

59,739

$

35,720

$

187,487

$

154,057

GAAP net cash used in investing activities

$

(14,029

)

$

(8,510

)

$

(20,177

)

$

(18,901

)

GAAP net cash used in financing activities

$

(90,586

)

$

(65,276

)

$

(216,416

)

$

(127,052

)

(1)

For the three and six months ended July 31, 2025, the non-GAAP tax provision used a long-term projected tax rate of 26.8%. For the three and six months ended July 31, 2026, the non-GAAP tax provision uses a long-term projected tax rate of 25%, which reflects currently available information and could be subject to change.

BOX, INC.

RECONCILIATION OF GAAP REVENUE TO BILLINGS

(In Thousands)

(Unaudited)

Three Months Ended

Six Months Ended

July 31,

July 31,

2026

2025

2026

2025

GAAP revenue

$

321,147

$

293,999

$

627,088

$

570,271

Deferred revenue, end of period

595,814

547,263

595,814

547,263

Less: deferred revenue, beginning of period

(605,944

)

(574,119

)

(656,697

)

(608,600

)

Contract assets, beginning of period

6,255

3,662

6,479

4,160

Less: contract assets, end of period

(7,766

)

(5,931

)

(7,766

)

(5,931

)

Billings

$

309,506

$

264,874

$

564,918

$

507,163

BOX, INC.

RECONCILIATION OF GAAP TO NON-GAAP NET INCOME PER SHARE GUIDANCE

(In Thousands, Except Per Share Data)

(Unaudited)

Three Months Ended

Fiscal Year Ended

October 31, 2026

January 31, 2027

GAAP net income per share attributable to common stockholders, diluted

$

0.12

$

0.38

Stock-based compensation

0.41

1.68

Acquired intangible asset amortization

—

0.01

Amortization of debt issuance costs

—

0.02

Other (1)

0.01

0.02

Income tax effects of non-GAAP adjustments (2)

(0.11

)

(0.41

)

Undistributed earnings attributable to preferred stockholders

(0.04

)

(0.16

)

Non-GAAP net income per share attributable to common stockholders, diluted

$

0.39

$

1.54

Weighted-average shares, diluted

142,000

141,000

(1)

Other includes expenses related to litigation and workforce reorganization.

(2)

Non-GAAP tax provision uses a long-term projected tax rate of 25%, which reflects currently available information and could be subject to change.

BOX, INC.

RECONCILIATION OF GAAP TO NON-GAAP OPERATING MARGIN GUIDANCE

(Unaudited)

Three Months Ended

Fiscal Year Ended

October 31, 2026

January 31, 2027

GAAP operating margin

10.0

%

9.5

%

Stock-based compensation

17.5

18.5

Other (1)

0.5

—

Non-GAAP operating margin

28.0

%

28.0

%

(1)

Other includes acquired intangible assets amortization, expenses related to litigation, and workforce reorganization.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260824340222/en/

Investors:

Cynthia Hiponia and Stefany Flegal

[email protected]

Media:

Sheridan Hoover

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Security Data Management Technology Artificial Intelligence Software

MEDIA:

Logo

Posted on August 25, 2026 4:09 pm
Zoom Communications Reports Financial Results for the Second Quarter of Fiscal Year 2027

Second

quarter total revenue of

$1,277.2 million

, up

4.9%

year over year as reported and

4.7%

in constant currency

Second

quarter Enterprise revenue of

$787.5 million

, up

7.8%

year over year

Second quarter GAAP operating margin of 24.6% and non-GAAP operating margin of 40.0%

Trailing 12-month net dollar expansion rate for Enterprise customers increased to

99%

from

98%

as of the same quarter last fiscal year

Repurchased approximately 3.7 million shares of common stock in second quarter, bringing the total shares repurchased under the current plan to 44.2 million

Number of customers contributing more than $100,000 in trailing 12 months revenue up

8.2%

year over year

SAN JOSE, Calif., Aug. 25, 2026 (GLOBE NEWSWIRE) — Zoom Communications, Inc. (NASDAQ: ZM), today announced financial results for the second fiscal quarter ended July 31, 2026.

“FY27 continues to progress well, reflecting focused execution against our three priorities and clear Enterprise business momentum. Total revenue grew 4.9% year over year, anchored by 7.8% growth in Enterprise revenue, its strongest growth rate in three years,” said Eric S. Yuan, Zoom’s founder and CEO. “Our AI-first Customer Experience portfolio continues to scale, delivering high-double-digit ARR expansion, driven in part by strong adoption of Zoom Virtual Agent, whose customer count increased 256% year over year. With innovations including ZoomMate, My Notes, AI Productivity Suite, ZVA Receptionist, and Workvivo HQ Agent, and acquisitions like Common Room and BrightHire, we are embedding AI into the flow of work across collaboration, customer experience, revenue orchestration, recruiting, and employee experience. The breadth of that AI adoption reflects how Zoom is differentiating as a system of action for modern work, moving enterprise operations from conversation to completion.”

Second
Quarter Fiscal Year
2027
Financial Highlights:

Revenue: Total revenue for the second quarter was $1,277.2 million, up 4.9% year over year. Adjusting for foreign currency impact, revenue in constant currency was $1,274.5 million, up 4.7% year over year. Enterprise revenue was $787.5 million, up 7.8% year over year, and Online revenue was $489.7 million, up 0.6% year over year.

Income from Operations and Operating Margin: GAAP income from operations for the second quarter was $314.3 million, compared to GAAP income from operations of $321.7 million in the second quarter of fiscal year 2026. Non-GAAP income from operations, which adjusts for stock-based compensation expense and related payroll taxes, acquisition-related expenses, and litigation settlements, net, was $510.3 million for the second quarter, compared to non-GAAP income from operations of $503.2 million in the second quarter of fiscal year 2026. For the second quarter, GAAP operating margin was 24.6% and non-GAAP operating margin was 40.0%.

Net Income and Diluted Net Income Per Share: GAAP net income for the second quarter was $1,542.4 million, or $5.15 per share, compared to GAAP net income of $358.6 million, or $1.16 per share, in the second quarter of fiscal year 2026. Non-GAAP net income for the second quarter, which adjusts for stock-based compensation expense and related payroll taxes, gains on strategic investments, net, acquisition-related expenses, litigation settlements, net, and the tax effects on non-GAAP adjustments, was $464.0 million, or $1.55 per share. In the second quarter of fiscal year 2026, non-GAAP net income was $471.3 million, or $1.53 per share.

Cash and Marketable Securities: Total cash, cash equivalents, and marketable securities, excluding restricted cash, as of July 31, 2026 was $7.2 billion.

Cash Flow: Net cash provided by operating activities was $494.8 million for the second quarter, compared to $515.9 million in the second quarter of fiscal year 2026. Free cash flow, which is net cash provided by operating activities less purchases of property and equipment, was $472.4 million, compared to $508.0 million in the second quarter of fiscal year 2026.

Customer Metrics: Drivers of total revenue included acquiring new customers. At the end of the second quarter of fiscal year 2027:

The number of customers contributing more than $100,000 in trailing 12 months revenue was 4,625, up 8.2% from the same quarter last fiscal year.

The trailing 12-month net dollar expansion rate for Enterprise customers was 99%, up from 98% as of the same quarter last fiscal year.

Online average monthly churn was 2.9%, consistent with the same quarter last fiscal year.

Online customers with at least 16 months of continual service represented 75.6% of total Online MRR, up 70 bps year over year.

Financial Outlook: Zoom is providing the following guidance for its third quarter of fiscal year 2027 and updating its guidance for full fiscal year 2027.

Third Quarter Fiscal Year 2027: Total revenue is expected to be between $1.275 billion and $1.280 billion and revenue in constant currency is expected to be between $1.275 billion and $1.280 billion. Non-GAAP income from operations is expected to be between $510.0 million and $515.0 million. Non-GAAP diluted EPS is expected to be between $1.46 and $1.48 with approximately 301 million weighted average shares outstanding.

Full Fiscal Year 2027: Total revenue is expected to be between $5.085 billion and $5.095 billion and revenue in constant currency is expected to be between $5.071 billion and $5.081 billion. Non-GAAP income from operations is expected to be between $2.065 billion and $2.075 billion. Non-GAAP diluted EPS is expected to be between $6.08 and $6.12 with approximately 301 million weighted average shares outstanding. Full fiscal year free cash flow is expected to be between $1.780 billion and $1.820 billion.

The EPS and share count figures do not include the impact from approximately $1.3 billion of authorized share repurchase remaining as of July 31, 2026.

Additional information on Zoom’s reported results, including a reconciliation of the non-GAAP results to their most comparable GAAP measures, is included in the financial tables below. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future, although it is important to note that these factors could be material to Zoom’s results computed in accordance with GAAP.

A supplemental financial presentation and other information can be accessed through Zoom’s investor relations website at investors.zoom.com.

Zoom Video Earnings Call

Zoom will host a Zoom Video Webinar for investors on August 25, 2026 at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss the company’s financial results, business highlights and financial outlook. Investors are invited to join the Zoom Video Webinar by visiting: https://investors.zoom.com/

About Zoom

Zoom (NASDAQ:ZM) is a system of action for modern work, turning live collaboration into completed results. From entrepreneurs to global enterprises, customers choose Zoom to seamlessly collaborate, communicate, and drive outcomes across meetings, phone, contact center, and more — all with the built-in assistance of Zoom AI. Founded in 2011, Zoom is headquartered in San Jose, CA. For more information, visit zoom.com.

Forward-Looking Statements

This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Zoom’s financial outlook for the third quarter of fiscal year 2027 and full fiscal year 2027, Zoom’s market position, opportunities, and growth strategy, product initiatives, including future product and feature releases, and go-to-market motions and the expected benefits resulting from the same, market trends, and Zoom’s stock repurchase program. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements, including: declines in new customers, renewals or upgrades, or decline in demand for our platform, difficulties in evaluating our prospects and future results of operations given our continuing growth in scale, complexity and scope, the pace of development, adoption, or performance of our AI capabilities, competition from other providers of communications platforms, the effect of macroeconomic conditions on our business, including geopolitical tensions, tariffs and escalating trade tensions, interest rate fluctuations, inflationary pressures and market and foreign currency exchange rate volatility, lengthened sales cycles with large organizations, delays or outages in services from our co-located data centers, failures in internet infrastructure or interference with broadband access, compromised security measures, including ours and those of the third parties upon which we rely, and global security concerns and their potential impact on regional and global economies and supply chains. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our most recent filings with the Securities and Exchange Commission (the “SEC”), including our quarterly report on Form 10-Q for the fiscal quarter ended April 30, 2026. Forward-looking statements speak only as of the date the statements are made and are based on information available to Zoom at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Zoom assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.

Non-GAAP Financial Measures

Zoom has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Zoom uses these non-GAAP financial measures internally in analyzing its financial results and believes that use of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing Zoom’s financial results with other companies in its industry, many of which present similar non-GAAP financial measures.

Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with Zoom’s condensed consolidated financial statements prepared in accordance with GAAP. A reconciliation of Zoom’s historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review the reconciliation.

Non-GAAP Income from Operations and Non-GAAP Operating Margin. Zoom defines non-GAAP income from operations as income from operations excluding stock-based compensation expense and related payroll taxes, acquisition-related expenses, and litigation settlements, net. Zoom excludes stock-based compensation expense because it is non-cash in nature and excluding this expense provides meaningful supplemental information regarding Zoom’s operational performance and allows investors the ability to make more meaningful comparisons between Zoom’s operating results and those of other companies. Zoom excludes the amount of employer payroll taxes related to employee stock plans, which is a cash expense, in order for investors to see the full effect that excluding stock-based compensation expense had on Zoom’s operating results. In particular, this expense is dependent on the price of our common stock and other factors that are beyond our control and do not correlate to the operation of the business. Zoom views acquisition-related expenses when applicable, such as amortization of acquired intangible assets, transaction costs, and acquisition-related retention payments that are directly related to business combinations as events that are not necessarily reflective of operational performance during a period. Zoom excludes significant litigation settlements, net of amounts covered by insurance, that we deem not to be in the ordinary course of our business. In fact, Zoom believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods that may or may not include such expenses and assist in the comparison with the results of other companies in the industry. Zoom defines non-GAAP operating margin as non-GAAP income from operations divided by GAAP revenue.

Non-GAAP Net Income and Non-GAAP Net Income Per Share, Basic and Diluted. Zoom defines non-GAAP net income as GAAP net income adjusted to exclude stock-based compensation expense and related payroll taxes, acquisition-related expenses, gains/losses on strategic investments, net, litigation settlements, net, and the tax effects of all non-GAAP adjustments. Zoom excludes these items because they are considered by management to be outside of Zoom’s core operating results. These adjustments are intended to provide investors and management with greater visibility to the underlying performance of Zoom’s business operations, facilitate comparison of its results with other periods, and may also facilitate comparison with the results of other companies in the industry. Zoom defines non-GAAP net income per share, basic and diluted, as non-GAAP net income divided by the number of shares outstanding, basic and diluted, calculated in accordance with GAAP.

Free Cash Flow and Free Cash Flow Margin. Zoom defines free cash flow as GAAP net cash provided by operating activities less purchases of property and equipment. Zoom considers free cash flow to be a liquidity measure that provides useful information to management and investors regarding net cash provided by operating activities and cash used for investments in property and equipment required to maintain and grow the business. Zoom defines free cash flow margin as free cash flow divided by GAAP revenue.

Revenue in Constant Currency. Zoom defines revenue in constant currency as GAAP revenue adjusted for revenue reported in currencies other than United States dollars as if they were converted into United States dollars using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the respective periods. Zoom provides revenue in constant currency information as a framework for assessing how Zoom’s underlying businesses performed period to period, excluding the effects of foreign currency fluctuations.

Customer Metrics

Zoom defines a customer as a separate and distinct buying entity, which can be a single paid user or an organization of any size (including a distinct unit of an organization) that has multiple users. Zoom defines Enterprise customers as distinct business units that have been engaged by either our direct sales team, resellers, or strategic partners. All other customers that subscribe to our services directly through our website are referred to as Online customers.

Zoom calculates net dollar expansion rate as of a period end by starting with the annual recurring revenue (“ARR”) from Enterprise customers as of 12 months prior (“Prior Period ARR”). Zoom defines ARR as the annualized revenue run rate of subscription agreements from all customers at a point in time. Zoom calculates ARR by taking the monthly recurring revenue (“MRR”) and multiplying it by 12. MRR is defined as the recurring revenue run-rate of subscription agreements from all Enterprise customers for the last month of the period, including revenue from monthly subscribers who have not provided any indication that they intend to cancel their subscriptions. Zoom then calculates the ARR from these Enterprise customers as of the current period end (“Current Period ARR”), which includes any upsells, contraction, and attrition. Zoom divides the Current Period ARR by the Prior Period ARR to arrive at the net dollar expansion rate. For the trailing 12 months calculation, Zoom takes an average of the net dollar expansion rate over the trailing 12 months.

Zoom calculates online average monthly churn by starting with the Online customer MRR as of the beginning of the applicable quarter (“Entry MRR”). Zoom defines Entry MRR as the recurring revenue run-rate of subscription agreements from all Online customers except for subscriptions that Zoom recorded as churn in a previous quarter based on the customers’ earlier indication to us of their intention to cancel that subscription. Zoom then determines the MRR related to customers who canceled or downgraded their subscription or notified us of that intention during the applicable quarter (“Applicable Quarter MRR Churn”) and divides the Applicable Quarter MRR Churn by the applicable quarter Entry MRR to arrive at the MRR churn rate for Online Customers for the applicable quarter. Zoom then divides that amount by three to calculate the online average monthly churn.

Public Relations

Karen Modlin
Head of Corporate Communications
[email protected]

Investor Relations

Charles Eveslage
Head of Investor Relations
[email protected]

Zoom Communications, Inc.
Condensed Consolidated Balance Sheets
(In thousands)

As of

July 31,

2026 January 31,

2026

Assets (unaudited)

Current assets:

Cash and cash equivalents $ 931,992 $ 1,272,877

Marketable securities 6,317,729 6,544,031

Accounts receivable, net 532,958 497,339

Deferred contract acquisition costs, current 139,034 108,856

Prepaid expenses and other current assets 193,688 234,856

Total current assets 8,115,401 8,657,959

Deferred contract acquisition costs, noncurrent 264,361 215,533

Property and equipment, net 254,705 264,525

Operating lease right-of-use assets 56,402 52,423

Strategic investments 3,785,876 1,578,611

Goodwill 599,181 400,392

Deferred tax assets 328,894 646,640

Other assets, noncurrent 180,576 144,333

Total assets $ 13,585,396 $ 11,960,416

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable $ 14,364 $ 6,268

Accrued expenses and other current liabilities 557,561 581,773

Deferred revenue, current 1,549,428 1,411,149

Total current liabilities 2,121,353 1,999,190

Deferred revenue, noncurrent 12,735 13,195

Operating lease liabilities, noncurrent 33,340 30,710

Other liabilities, noncurrent 114,357 109,063

Total liabilities 2,281,785 2,152,158

Stockholders’ equity:

Common stock 292 295

Additional paid-in capital 3,666,536 4,099,753

Accumulated other comprehensive income (31,005 ) 8,544

Retained earnings 7,667,788 5,699,666

Total stockholders’ equity 11,303,611 9,808,258

Total liabilities and stockholders’ equity $ 13,585,396 $ 11,960,416

Note: The amount of unbilled accounts receivable included within accounts receivable, net on the condensed consolidated balance sheets was $88.4 million and $84.9 million as of July 31, 2026 and January 31, 2026, respectively.

Zoom Communications, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except share and per share amounts)

Three Months Ended July 31, Six Months Ended July 31,

2026
2025
2026
2025

Revenue $ 1,277,217 $ 1,217,227 $ 2,516,223 $ 2,391,942

Cost of revenue 291,722 273,165 566,009 551,567

Gross profit 985,495 944,062 1,950,214 1,840,375

Operating expenses:

Research and development 242,497 206,447 470,423 411,863

Sales and marketing 330,521 338,995 660,571 685,965

General and administrative 98,161 76,885 194,431 179,220

Total operating expenses 671,179 622,327 1,325,425 1,277,048

Income from operations 314,316 321,735 624,789 563,327

Gains on strategic investments, net 1,614,203 45,056 1,766,500 31,437

Other income, net 66,448 81,371 135,298 169,163

Income before provision for income taxes 1,994,967 448,162 2,526,587 763,927

Provision for income taxes 452,522 89,570 558,465 150,732

Net income 1,542,445 358,592 1,968,122 613,195

Net income per share:

Basic $ 5.27 $ 1.19 $ 6.70 $ 2.02

Diluted $ 5.15 $ 1.16 $ 6.56 $ 1.97

Weighted-average shares used in computing net income per share:

Basic 292,879,238 301,779,114 293,688,378 303,354,835

Diluted 299,746,342 308,224,372 300,021,287 310,515,069

Zoom Communications, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited, in thousands)

Three Months Ended July 31, Six Months Ended July 31,

2026 2025 2026 2025

Cash flows from operating activities:

Net income $ 1,542,445 $ 358,592 $ 1,968,122 $ 613,195

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

Stock-based compensation expense 179,784 188,699 358,737 390,268

Amortization of deferred contract acquisition costs 55,640 70,006 107,155 139,563

Depreciation and amortization 32,331 32,163 65,112 67,479

Deferred income taxes 318,171 (28,581 ) 341,465 (53,271 )

Gains on strategic investments, net (1,614,203 ) (45,056 ) (1,766,500 ) (31,437 )

Provision for accounts receivable allowances 2,300 4,265 5,326 10,120

Unrealized foreign exchange losses (gains) 2,337 (913 ) 3,001 (8,539 )

Non-cash operating lease cost 6,164 6,386 12,048 12,494

Amortization of discount/premium on marketable securities (4,964 ) (8,790 ) (6,257 ) (21,635 )

Other (6,363 ) (330 ) 987 3,812

Changes in operating assets and liabilities:

Accounts receivable (64,940 ) (36,093 ) (40,250 ) (23,608 )

Prepaid expenses and other assets 42,790 15,453 45,906 3,160

Deferred contract acquisition costs (99,420 ) (81,404 ) (186,162 ) (129,552 )

Accounts payable (4,379 ) (2,458 ) 5,948 4,794

Accrued expenses and other liabilities 53,788 (1,602 ) (13,960 ) (81,985 )

Deferred revenue 60,169 52,874 129,774 125,015

Operating lease liabilities, net (6,899 ) (7,271 ) (14,091 ) (14,672 )

Net cash provided by operating activities 494,751 515,940 1,016,361 1,005,201

Cash flows from investing activities:

Purchases of marketable securities (3,315,905 ) (1,092,019 ) (4,488,122 ) (2,227,043 )

Maturities of marketable securities 380,476 1,054,802 1,238,601 2,088,081

Sales of marketable securities 3,428,694 10,000 3,428,694 12,525

Purchases of property and equipment (22,353 ) (7,966 ) (43,466 ) (33,876 )

Purchases of strategic investments (295,379 ) (27,495 ) (441,074 ) (27,495 )

Proceeds from strategic investments 125 2,505 309 2,505

Cash paid for acquisition, net of cash acquired (248,655 ) — (248,655 ) —

Purchases of intangible assets (524 ) (500 ) (524 ) (500 )

Net cash used in investing activities (73,521 ) (60,673 ) (554,237 ) (185,803 )

Cash flows from financing activities:

Proceeds from exercise of stock options 1,048 421 1,552 1,375

Proceeds from issuance of common stock for employee stock purchase plan 40,892 36,057 40,892 36,057

Proceeds from employee equity transactions (remitted) to be remitted to employees and tax authorities, net (22,952 ) (10,773 ) 6,285 (2,083 )

Cash paid for repurchases of common stock, including excise taxes (360,506 ) (465,263 ) (722,189 ) (883,284 )

Taxes paid related to net share settlement of equity awards (59,593 ) (55,304 ) (121,761 ) (137,457 )

Net cash used in financing activities (401,111 ) (494,862 ) (795,221 ) (985,392 )

Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2,450 ) 1,422 (2,136 ) 13,276

Net increase (decrease) in cash, cash equivalents, and restricted cash 17,669 (38,173 ) (335,233 ) (152,718 )

Cash, cash equivalents, and restricted cash – beginning of period 930,879 1,246,872 1,283,781 1,361,417

Cash, cash equivalents, and restricted cash – end of period $ 948,548 $ 1,208,699 $ 948,548 $ 1,208,699

Zoom Communications, Inc.

Reconciliation of GAAP to Non-GAAP Measures

(Unaudited, in thousands, except share and per share amounts)

Three Months Ended July 31, Six Months Ended July 31,

2026 2025 2026 2025

GAAP income from operations $ 314,316 $ 321,735 $ 624,789 $ 563,327

Add:

Stock-based compensation expense and related payroll taxes 186,663 195,782 375,835 412,512

Litigation settlements, net — (18,000 ) — (18,000 )

Acquisition-related expenses 9,298 3,709 18,372 12,713

Non-GAAP income from operations $ 510,277 $ 503,226 $ 1,018,996 $ 970,552

GAAP operating margin 24.6 % 26.4 % 24.8 % 23.6 %

Non-GAAP operating margin 40.0 % 41.3 % 40.5 % 40.6 %

GAAP net income $ 1,542,445 $ 358,592 $ 1,968,122 $ 613,195

Add:

Stock-based compensation expense and related payroll taxes 186,663 195,782 375,835 412,512

Litigation settlements, net — (18,000 ) — (18,000 )

Gains on strategic investments, net (1,614,203 ) (45,056 ) (1,766,500 ) (31,437 )

Acquisition-related expenses 9,298 3,709 18,372 12,713

Tax effects on non-GAAP adjustments 339,811 (23,708 ) 333,225 (69,371 )

Non-GAAP net income $ 464,014 $ 471,319 $ 929,054 $ 919,612

Net income per share – basic and diluted:

GAAP net income per share – basic $ 5.27 $ 1.19 $ 6.70 $ 2.02

Non-GAAP net income per share – basic $ 1.58 $ 1.56 $ 3.16 $ 3.03

GAAP net income per share – diluted $ 5.15 $ 1.16 $ 6.56 $ 1.97

Non-GAAP net income per share – diluted $ 1.55 $ 1.53 $ 3.10 $ 2.96

GAAP and non-GAAP weighted-average shares used to compute net income per share – basic 292,879,238 301,779,114 293,688,378 303,354,835

GAAP and non-GAAP weighted-average shares used to compute net income per share – diluted 299,746,342 308,224,372 300,021,287 310,515,069

Net cash provided by operating activities $ 494,751 $ 515,940 $ 1,016,361 $ 1,005,201

Less: Purchases of property and equipment (22,353 ) (7,966 ) (43,466 ) (33,876 )

Free cash flow (non-GAAP) $ 472,398 $ 507,974 $ 972,895 $ 971,325

Net cash used in investing activities $ (73,521 ) $ (60,673 ) $ (554,237 ) $ (185,803 )

Net cash used in financing activities $ (401,111 ) $ (494,862 ) $ (795,221 ) $ (985,392 )

Operating cash flow margin (GAAP) 38.7 % 42.4 % 40.4 % 42.0 %

Free cash flow margin (non-GAAP) 37.0 % 41.7 % 38.7 % 40.6 %

Three Months Ended July 31, Six Months Ended July 31,

2026 2026

Revenue YoY Revenue Growth (%) Revenue YoY Revenue Growth (%)

GAAP revenue $ 1,277,217 4.9 % $ 2,516,223 5.2 %

Add: Constant currency impact (2,751 ) (0.2 )% (12,936 ) (0.5 )%

Revenue in constant currency (non-GAAP) $ 1,274,466 4.7 % $ 2,503,287 4.7 %

Posted on August 25, 2026 4:09 pm
Electromed, Inc. Announces Record Fiscal 2026 Fourth Quarter and Full Year Financial Results

Electromed, Inc. Announces Record Fiscal 2026 Fourth Quarter and Full Year Financial Results

Strong homecare revenue growth and expanded operating leverage drive record operating income in Fiscal 2026

NEW PRAGUE, Minn.–(BUSINESS WIRE)–
Electromed, Inc. (“Electromed”) (NYSE American: ELMD), a leader in innovative airway clearance technologies, today announced financial results for the three months (“Q4 FY 2026”) and full year ended June 30, 2026 (“FY 2026”).

Q4 FY 2026 Company Highlights

Net revenue increased 11.6% to a record $19.4 million in Q4 FY 2026, from $17.4 million in the fourth quarter of the prior fiscal year.

Operating income increased 25.8% over the prior year to a record $3.8 million, or 19.7% of net revenues.

Net income increased 54.3% to a record $3.4 million, or $0.39 per diluted share, compared to $2.2 million, or $0.25 per diluted share, in the fourth quarter of the prior fiscal year.

FY 2026 Company Highlights

Net revenue increased 15.3% to a record $73.8 million in FY 2026, from $64.0 million in the prior fiscal year.

Operating income increased 43.7% over the prior year to a record $13.9 million, or 18.8% of net revenues.

Net income was $11.3 million, or $1.30 per diluted share, compared to $7.5 million, or $0.85 per diluted share, in the prior fiscal year.

Cash provided by operations totaled $9.7 million in FY 2026, compared to $11.4 million in the prior fiscal year.

Electromed repurchased $3.9 million of its common stock throughout FY 2026.

“Fiscal 2026 was another exceptional year for Electromed, as the company generated record revenues and profits. The fourth fiscal quarter marked our 15th consecutive quarter of year-over-year revenue and profit growth. Also, our operating margin increased more than 370 basis points over FY 2025, which demonstrates our continued success in driving operational leverage,” said Jim Cunniff, Electromed’s President and Chief Executive Officer. “Our strong financial performance, combined with strategic investments in our sales force, systems, and bronchiectasis market development initiatives, positions us to capitalize on the opportunity to serve the approximately 800,000 diagnosed bronchiectasis patients who could benefit from our SmartVest® therapy. Our robust balance sheet with $20.5 million in cash, and recognition as one of Minnesota’s fastest-growing public companies has Electromed well-positioned for durable, long-term growth and value creation for our investors.”

Q4 FY 2026 Results

All amounts below are for the three months ended June 30, 2026, and compare to the three months ended June 30, 2025.

Net revenues grew 11.6% to $19.4 million from $17.4 million.

Revenue in our direct homecare business increased 15.2% to $17.7 million from $15.4 million. The increase in revenue was primarily due to an increase in direct sales representatives, increased sales representative productivity, and higher net revenues per approval.

Gross profit increased to $15.3 million or 78.7% of net revenues from $13.6 million or 78.3% of net revenues. The increase in gross profit and gross margin was primarily due to increased revenue and higher net revenue per device.

Selling, general and administrative (“SG&A”) expenses were $11.1 million, representing an increase of $0.8 million or 8.3%. The increase in the current period was primarily due to the increased salaries and incentive compensation related to the higher average number of personnel in the sales, sales support, marketing, and reimbursement teams to process higher patient referrals.

Operating income was $3.8 million or 19.7% of net revenues, compared to $3.0 million, or 17.5% of net revenues. This increase in operating income was primarily due to increases in revenue and gross profit.

Net income increased by 54.3% to $3.4 million, or $0.39 per diluted share, compared to $2.2 million, or $0.25 per diluted share.

FY 2026 Summary

All amounts below are for the year ended June 30, 2026 (“fiscal 2026”) and compare to the fiscal year ended June 30, 2025 (“fiscal 2025”).

Net revenues for fiscal 2026 grew by 15.3% to a record $73.8 million, from $64.0 million in fiscal 2025.

Revenue in our direct homecare market increased year-over-year by 16.3% to $66.6 million, from $57.3 million. The increase in revenue was due to an increase in direct sales representatives, increased sales representative productivity, and higher net revenues per approval. For the year ended June 30, 2026, we averaged 58 homecare field sales representatives. The homecare revenue per weighted average direct sales representative was $1,145,000, exceeding Electromed’s target range for the year of $1,000,000 to $1,100,000.

Revenue in our non-homecare business grew to $7.2 million in fiscal 2026, an increase of $0.5 million, or 6.7%, from $6.7 million in fiscal 2025. The increase was primarily due to increased distributor and hospital revenue.

Gross profit increased to $57.9 million, or 78.5% of net revenues in fiscal 2026, from $50.0 million, or 78.1% of net revenues, in fiscal 2025. The increase in gross profit and gross margin was primarily due to increased revenue and higher net revenue per device.

Selling, general and administrative (“SG&A”) expenses were $42.7 million in fiscal 2026, representing an increase of $3.4 million or 8.7% from $39.3 million in fiscal 2025. The increase was primarily due to increased salaries and incentive compensation related to the higher average number of personnel in the sales, sales support, marketing, and reimbursement teams to process more patient referrals.

Operating income was $13.9 million or 18.8% of net revenues in fiscal 2026, compared to $9.7 million, or 15.1% of net revenues in fiscal 2025. This increase in operating income was primarily due to increases in net revenues and gross profit.

Net income for fiscal 2026 was $11.3 million, or $1.30 per diluted share, compared to $7.5 million, or $0.85 per diluted share in fiscal 2025.

As of June 30, 2026, Electromed had $20.5 million in cash, $29.8 million in accounts receivable and no debt, achieving working capital of $45.1 million and total shareholders’ equity of $54.0 million. The cash balance reflects an increase of $5.2 million for the twelve months ended June 30, 2026, compared to a decrease in cash of $0.8 million in the twelve months ended June 30, 2025. The increase in cash for the twelve months ended June 30, 2026, was driven primarily by positive operating cash flow of $9.7 million, partially offset by share repurchases of $3.9 million of Electromed common stock.

Conference Call and Webcast Information

The conference call with members of Electromed management will be held at 5:00 p.m. Eastern Time on Tuesday, August 25, 2026.

Interested parties may participate in the call by dialing (877) 407-3982 (Domestic) or (201) 493-6780 (International).

The live conference call webcast will be accessible in the Investor Relations section of Electromed’s website and directly via the following link: https://viavid.webcasts.com/starthere.jsp?ei=1770216&tp_key=c0342b57c3

For those who cannot listen to the live broadcast, a replay will be available by dialing (844) 512-2921 (Domestic) or (412) 317-6671 (International) and referencing the replay pin number 13761827. Additionally, an online replay will be available for at least one year in the Investor Relations section of Electromed’s web site at: https://investors.smartvest.com/events-and-presentations/default.aspx

About Electromed, Inc.

Electromed, Inc. manufactures, markets, and sells products that provide airway clearance therapy, including the SmartVest® Airway Clearance System, to patients with compromised pulmonary function. It is headquartered in New Prague, Minnesota, and was founded in 1992. Further information about Electromed can be found at www.smartvest.com.

Cautionary Statements

Certain statements in this press release constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as “continue,” “expect,” “may,” “plan,” “potential,” “should,” “will,” and similar expressions, including the negative of these terms, but they are not the exclusive means of identifying such statements. Forward-looking statements cannot be guaranteed, and actual results may vary materially due to the uncertainties and risks, known or unknown, associated with such statements. Examples of risks and uncertainties for Electromed include, but are not limited to, our ability to obtain reimbursement from Medicare, Medicaid, or private insurance payers for our products; component or raw material shortages, changes to lead times or significant price increases, inflationary trends in electronic components, and uncertainty related to trade regulations (including, but not limited to, changes to tariffs); adverse changes to state and federal health care regulations; our ability to maintain regulatory compliance and to gain future regulatory approvals and clearances; entry of new competitors including new drug or pharmaceutical discoveries; adverse economic and business conditions or intense competition; wage and component price inflation; rising energy costs and geopolitical conflict; technical problems with our research and products; the risks associated with cyberattacks, data breaches, computer viruses and other similar security threats; changes affecting the medical device industry; our ability to develop new sales channels for our products such as the hospital or homecare distributor channels; adverse international health care regulation impacting current international business; our ability to renew our line of credit or obtain additional credit as necessary; and our ability to protect and expand our intellectual property portfolio, as well as other factors we may describe from time to time in Electromed’s reports filed with the Securities and Exchange Commission (including Electromed’s most recent Annual Report on Form 10-K, as amended from time to time, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K). Investors should not consider any list of such factors to be an exhaustive statement of all the risks, uncertainties or potentially inaccurate assumptions investors should take into account when making investment decisions. Shareholders and other readers should not place undue reliance on “forward-looking statements,” as such statements speak only as of the date of this press release. We undertake no obligation to update them in light of new information or future events.

Electromed, Inc.

Condensed Balance Sheets

As of June 30,

2026

2025

Assets

Current Assets

Cash and cash equivalents

$

20,450,000

$

15,287,000

Accounts receivable (net of allowances for credit losses of $45,000)

29,805,000

24,660,000

Contract assets

1,094,000

1,036,000

Inventories

3,681,000

3,299,000

Prepaid expenses and other current assets

1,170,000

392,000

Income tax receivable

1,168,000

408,000

Total current assets

57,368,000

45,082,000

Property and equipment, net

5,214,000

4,714,000

Finite-life intangible assets, net

379,000

371,000

Other assets

1,270,000

1,173,000

Deferred income taxes

2,036,000

2,462,000

Total assets

$

66,267,000

$

53,802,000

Liabilities and Shareholders’ Equity

Current Liabilities

Accounts payable

$

2,643,000

$

2,667,000

Accrued compensation

6,071,000

5,079,000

Warranty reserve

1,899,000

1,645,000

Other accrued liabilities

1,609,000

1,077,000

Total current liabilities

12,222,000

10,468,000

Other long-term liabilities

66,000

125,000

Total liabilities

12,288,000

10,593,000

Shareholders’ Equity

Common stock, $0.01 par value per share, 13,000,000 shares authorized; 8,366,163 and 8,349,176 shares issued and outstanding, as of June 30, 2026, and June 30, 2025, respectively

84,000

83,000

Additional paid-in capital

25,331,000

21,941,000

Retained earnings

28,564,000

21,185,000

Total shareholders’ equity

53,979,000

43,209,000

Total liabilities and shareholders’ equity

$

66,267,000

$

53,802,000

Electromed, Inc.

Condensed Statements of Operations

Three Months Ended

Year Ended

June 30,

June 30,

2026

2025

2026

2025

(Unaudited)

(Unaudited)

Net revenues

$

19,417,000

$

17,393,000

$

73,776,000

$

64,000,000

Cost of revenues

4,133,000

3,769,000

15,833,000

14,029,000

Gross profit

15,284,000

13,624,000

57,943,000

49,971,000

Operating expenses

Selling, general and administrative

11,131,000

10,282,000

42,748,000

39,315,000

Research and development

328,000

302,000

1,314,000

996,000

Total operating expenses

11,459,000

10,584,000

44,062,000

40,311,000

Operating income

3,825,000

3,040,000

13,881,000

9,660,000

Interest income, net

136,000

135,000

479,000

624,000

Net income before income taxes

3,961,000

3,175,000

14,360,000

10,284,000

Income tax expense

560,000

971,000

3,059,000

2,747,000

Net income

$

3,401,000

$

2,204,000

$

11,301,000

$

7,537,000

Income per share:

Basic

$

0.41

$

0.26

$

1.37

$

0.89

Diluted

$

0.39

$

0.25

$

1.30

$

0.85

Weighted-average common shares outstanding:

Basic

8,258,440

8,334,821

8,266,071

8,454,100

Diluted

8,734,188

8,718,900

8,688,563

8,914,421

Electromed, Inc.

Condensed Statements of Cash Flows

Years Ended June 30,

2026

2025

Cash Flows from Operating Activities

Net income

$

11,301,000

$

7,537,000

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

Depreciation

868,000

1,039,000

Impairment of intangible assets

—

212,000

Amortization

208,000

133,000

Share-based compensation expense

2,722,000

3,059,000

Deferred income taxes

426,000

(310,000

)

Changes in operating assets and liabilities:

Accounts receivable

(5,145,000

)

(1,327,000

)

Contract assets

(58,000

)

(317,000

)

Inventories

(517,000

)

175,000

Prepaid expenses and other assets

(1,024,000

)

(959,000

)

Income tax receivable, net

(760,000

)

(685,000

)

Accounts payable and accrued liabilities

652,000

1,650,000

Accrued compensation

992,000

1,186,000

Net cash provided by operating activities

9,665,000

11,393,000

Cash Flows from Investing Activities

Expenditures for property and equipment

(1,252,000

)

(262,000

)

Expenditures for finite-life intangible assets

(48,000

)

(44,000

)

Net cash used for investing activities

(1,300,000

)

(306,000

)

Cash Flows from Financing Activities

Issuance of common stock upon exercise of options

965,000

398,000

Taxes paid on net share settlement of stock awards

(249,000

)

(2,278,000

)

Repurchase of common stock

(3,918,000

)

(10,000,000

)

Net cash used for financing activities

(3,202,000

)

(11,880,000

)

Net increase (decrease) in cash

5,163,000

(793,000

)

Cash and cash equivalents

Beginning of period

15,287,000

16,080,000

End of period

$

20,450,000

$

15,287,000

View source version on businesswire.com: https://www.businesswire.com/news/home/20260825250618/en/

Brad Nagel, Chief Financial Officer

(952) 758-9299

[email protected]

Mike Cavanaugh, Investor Relations

ICR Healthcare

(617) 877-9641

[email protected]

KEYWORDS: Minnesota United States North America

INDUSTRY KEYWORDS: Medical Devices Hospitals FDA Clinical Trials Health Technology Practice Management Biotechnology Physical Therapy General Health Health

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Posted on August 25, 2026 4:09 pm
NextNav to Participate in HC Wainwright Global Investor Conference

NextNav to Participate in HC Wainwright Global Investor Conference

RESTON, Va.–(BUSINESS WIRE)–
NextNav Inc. (Nasdaq: NN), a leader in next-generation terrestrial Positioning, Navigation, and Timing (PNT) and 3D geolocation solutions, today announced that Chief Financial Officer, Tim Gray, will participate in the HC Wainwright Global Investor Conference on September 14, 2026.

To schedule a meeting with NextNav, please reach out to your H.C. Wainwrightrepresentative.

About NextNav

NextNav Inc. (Nasdaq: NN) is a leader in next-generation 3D Positioning, Navigation, and Timing (PNT) solutions. As the nation’s largest license holder in a spectrum band expressly designated for terrestrial positioning services, NextNav is uniquely positioned to enable a widescale terrestrial complement and backup to GPS. Leveraging licensed low-band spectrum and the global 5G ecosystem, NextNav is focused on delivering an accurate, reliable, and resilient 3D PNT solution to protect national security, public safety, and the economy. Learn more at www.nextnav.com.

For more information, please visit https://nextnav.com/ or follow NextNav on X at https://x.com/NextNav or LinkedIn at https://www.linkedin.com/company/nextnav/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260825564966/en/

Investor Contact:

[email protected]

Media Contact:

[email protected]

KEYWORDS: Virginia United States North America

INDUSTRY KEYWORDS: Technology Satellite Mobile/Wireless Software 5G Networks

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Posted on August 25, 2026 4:08 pm
Upstart Co-founder and CEO to Participate in Fireside Chat at the Goldman Sachs Communacopia and Technology Conference 2026

Upstart Co-founder and CEO to Participate in Fireside Chat at the Goldman Sachs Communacopia and Technology Conference 2026

BURLINGAME, Calif.–(BUSINESS WIRE)–
Upstart Holdings, Inc. (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, today announced that Paul Gu, Co-founder and CEO, will participate in a fireside chat at the Goldman Sachs Communacopia and Technology Conference on Tuesday, September 8, at 11:30 am PT (2:30 pm ET).

A live audio webcast of the event will be available on Upstart’s investor relations website at ir.upstart.com. A replay of the webcast will be available for a limited period of time following the event.

About Upstart

Upstart (NASDAQ: UPST) is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive loans, home equity lines of credit, and Upstart’s new Cash Line product, a revolving line of credit. Upstart is based in Burlingame, California.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260825087809/en/

Investors

Sonya Banerjee

[email protected]

Press

Eric Smith

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Professional Services Technology Software Finance Artificial Intelligence Internet Banking

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Posted on August 25, 2026 4:08 pm
Zeta Global to Participate in Upcoming Investor Conferences

Zeta Global to Participate in Upcoming Investor Conferences

NEW YORK–(BUSINESS WIRE)–
Zeta Global (NYSE: ZETA), the intelligent AI infrastructure company, today announced that it is scheduled to participate in the following investor conferences:

Date

Conference

September 8

Goldman Sachs Communacopia + Technology Conference*

September 9

Citi 2026 Global TMT Conference*

*Live webcast and replay of this presentation will be accessible on Zeta’s Investor Relations website at investors.zetaglobal.com where it will remain available for 1 year.

About Zeta

Zeta Global (NYSE: ZETA) is the intelligent AI infrastructure company helping enterprises transform proprietary data into enterprise intelligence. The Zeta Data Cloud and Athena by Zeta™ connect proprietary enterprise knowledge with advanced AI to enable better decisions, more effective customer engagement, and stronger business outcomes. With one of the industry’s largest proprietary data assets, Zeta helps organizations accelerate AI transformation and build durable competitive advantage. Founded in 2007 by David A. Steinberg and John Sculley, Zeta is headquartered in New York City with offices worldwide. Learn more at www.zetaglobal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260825730114/en/

Investor Relations

Trey Campbell

[email protected]

Press

Krystina Puleo

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Software Mobile/Wireless Internet Professional Services Technology Artificial Intelligence Publishing Data Analytics Marketing Advertising Communications Finance

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