Market Newsdesk

NEW YORK, May 07, 2026 (GLOBE NEWSWIRE) — SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced that it was awarded the 2026 Urban Land Institute Award for Excellence in Development for One Madison Avenue under the “Office Development” category. Through its Awards for Excellence program, ULI New York honors outstanding development projects that exemplify leadership in shaping the built environment, delivering transformative impact in communities while showing that ambitious projects can meet tenant demand and set new marks for achievable rents.

“We are honored to again be recognized by the Urban Land Institute for One Madison Avenue, an innovative project that has raised the bar for adaptive reuse and set the standard for the modern workplace,” said Robert Schiffer, Executive Vice President of Development of SL Green. “SL Green’s unique approach to design and tenant experience has transformed the office landscape in New York, with One Madison and One Vanderbilt both now 100% leased and achieving some of the highest rents in their submarkets. We look forward to continuing this approach with 346 Madison, where we will once again shape the future of office development.”

One Madison Avenue, the reimagined office tower overlooking Madison Square Park designed by world-renowned architecture firm KPF, was recognized for its integration of design, sustainability, and adaptive reuse. Exemplifying the innovation needed to create 21st-century office spaces while preserving historical context, SL Green and KPF transformed the existing nine-story podium into a flexible Class-A office in support of a new 550,000 square foot tower above.

“One Madison Avenue was conceived as a dialogue between past and present, preserving the integrity of the existing structure while introducing a contemporary vision for the modern workplace,” said James von Klemperer, President of KPF. “We are proud to see the project recognized by ULI for its design excellence and contribution to the evolution of New York’s built environment. Our partnership with SL Green now boasts two fully-leased, award-winning towers.”

One Madison Avenue’s prominence reflects its position as the preeminent example of a future-forward workplace with elevated wellness-driven amenities. It includes state-of-the-art HVAC that circulates 100% fresh air, massive floor-to-ceiling windows offering abundant natural daylight, as well as Rockwell Group-designed amenities such as Le Jardin Sur Madison, a spectacular one-of-a-kind event space, rooftop garden designed by SMI Landscape Architecture, La Tête d’Or by Daniel, Chef Daniel Boulud’s latest upscale culinary offering, and The Commons, designed by Vocon, a 7,000 square foot tenant-only lounge. Its curated retail program features a 56,000 square foot Chelsea Piers Fitness together with a collection of high-quality, fast casual eateries.

The redevelopment retains 67% of the building’s original structure, significantly reducing embodied carbon while introducing a modern glass tower with optimized floorplates, increased ceiling heights, and more than an acre of landscaped terraces. The project is designed to achieve over a 60% reduction in energy use compared to baseline standards and complies with New York City’s 2030 building emissions targets under Local Law 97.

One Madison Avenue officially completed its redevelopment in December 2024 and is now 100% leased with a tenant roster that includes global technology, AI and financial services firms such as IBM, Franklin Templeton Companies, Palo Alto Networks, FanDuel Group, Sigma Computing and Harvey AI. The project’s success has also been reinforced by a recent $1.65 billion refinancing, underscoring strong institutional confidence and demand for the asset.

Company Profile


SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing the value of Manhattan commercial properties. As of March 31, 2026, SL Green held interests in 55 buildings totaling 30.8 million square feet, which included ownership interests in 29.4 million square feet and 1.4 million square feet securing debt and preferred equity investments, excluding fund investments, and managed 3 buildings totaling 0.8 million square feet owned by third parties.

PRESS CONTACT


[email protected]

SLG – GEN

FDA Pre-New Drug Application (NDA) meeting granted for QTORIN™ rapamycin for the treatment of microcystic lymphatic malformations, with meeting expected in second quarter of 2026; NDA submission on track for second half of 2026

Accelerating U.S. launch readiness for QTORIN™ rapamycin for microcystic lymphatic malformations; BEYONDmLM.com disease awareness campaign launched to educate, engage, and empower patients, caregivers, and healthcare professionals

Initiation of Phase 3 trial of QTORIN™ rapamycin for the treatment of cutaneous venous malformations planned for second half of 2026

Initiation of Phase 2 trial of QTORIN™ pitavastatin for the treatment of disseminated superficial actinic porokeratosis planned for second half of 2026

Phase 2 LOTU trial of QTORIN™ rapamycin for clinically significant angiokeratomas initiated with topline results expected in second half of 2027

Completed upsized, oversubscribed equity financing of $230.0 million in February 2026; cash, cash equivalents and short-term investments of $261.9 million as of March 31, 2026

Company to host conference call at 8:30 a.m. ET today

WAYNE, Pa., May 07, 2026 (GLOBE NEWSWIRE) — Palvella Therapeutics, Inc. (Palvella or “the Company”) (Nasdaq: PVLA), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare skin diseases and vascular malformations for which there are no U.S. Food and Drug Administration (FDA)-approved therapies, today reported financial results for the first quarter ending March 31, 2026 and provided a corporate update.

“Following the positive Phase 3 SELVA topline results, we believe Palvella is on a clear path toward near-term NDA submission for QTORIN™ rapamycin in microcystic lymphatic malformations, with the potential for approval and U.S. commercial launch in the first half of 2027,” said Wes Kaupinen, Founder and Chief Executive Officer of Palvella. “Our $230.0 million financing with participation from high-quality new and existing investors meaningfully strengthens our balance sheet, which supports our plan for U.S. commercialization, and enables us to attract key talent as we prepare for a potential first-in-disease launch. At the same time, we continue to rapidly advance our pipeline beyond microcystic LMs, with the goal of expanding our QTORIN™-derived programs across six serious, rare skin diseases and vascular malformations by year-end.”

Recent Research and Development Highlights

QTORIN™ rapamycin for microcystic lymphatic malformations (microcystic LMs)

• Reported positive topline data from the Phase 3 SELVA study demonstrating statistically significant results across the primary and all pre-specified secondary endpoints.
• In collaboration with leading nonprofit and advocacy organizations, launched the “BEYOND mLM” disease awareness campaign and BEYONDmLM.com to educate and engage patients, caregivers, and healthcare professionals on microcystic lymphatic malformations.
• Announced publication in the Journal of Vascular Anomalies highlighting the distinct biology and significant unmet need in microcystic lymphatic malformations, supporting early intervention and reinforcing the scientific rationale for QTORIN™ rapamycin as a targeted therapeutic approach.
• Strengthened global intellectual property for QTORIN™ rapamycin with issuance of a European patent covering anhydrous topical compositions and methods of use, providing protection through 2038.
• Phase 3 SELVA study results to be presented at the International Society for the Study of Vascular Anomalies World Congress 2026 on May 20, 2026, marking the first presentation of these data at a major medical meeting.
• Pre-New Drug Application (NDA) meeting with the FDA granted; meeting expected in the second quarter of 2026.
• NDA submission remains on track for the second half of 2026.

QTORIN™ rapamycin for cutaneous venous malformations (cutaneous VMs)

• Phase 2 TOIVA study results to be presented at the International Society for the Study of Vascular Anomalies World Congress 2026 on May 20, 2026; additional data presentation planned at the 83rd Annual Meeting of the Society for Investigative Dermatology on May 12, 2026.
• Submitted application for FDA Breakthrough Therapy Designation in the second quarter of 2026.
• Phase 3 study initiation anticipated in the second half of 2026.

QTORIN™ rapamycin for clinically significant angiokeratomas

• Dosed first patients in the Phase 2 LOTU trial, a single-arm, baseline-controlled clinical trial of QTORIN™ rapamycin administered topically once daily for the treatment of clinically significant angiokeratomas.
• Topline results from LOTU are expected in the second half of 2027.

QTORIN™ pitavastatin for disseminated superficial actinic porokeratosis (DSAP)

• Presented qualitative insights at the 2026 American Academy of Dermatology Annual Meeting from ten in-depth interviews highlighting the significant burden of porokeratosis, a rare genetic skin disease with no FDA-approved therapies. These insights underscore its pre-cancerous nature and substantial physical, functional, and psychosocial impact, reinforcing the need for pathogenesis-directed therapies.
• Phase 2 trial initiation expected in the second half of 2026.

QTORIN™ rapamycin and QTORIN™ platform expansion

• Plan to announce the third product candidate from the QTORIN™ platform in a serious, rare disease with no FDA-approved therapies in the second half of 2026.
• Plan to announce the fourth clinical indication for QTORIN™ rapamycin in the second half of 2026. The expansion of QTORIN™ rapamycin into additional indications is supported by comprehensive publications which highlight the broad potential of rapamycin in several difficult-to-treat, mTOR-driven skin diseases while advocating for targeted, topical approaches suited to improve tolerability and safety.

Recent Corporate Highlights

• Closed an upsized and oversubscribed public offering of common stock generating $230.0 million in gross proceeds, including the full exercise of the underwriters’ option to purchase additional shares.
• Strengthened Palvella’s leadership team with the appointments of Jennifer McDonough, Senior Vice President of Market Access & Patient Services, who previously contributed to the successful launch of VYJUVEK® at Krystal Biotech, and Kent Taylor as Senior Vice President of Sales, who previously led U.S. commercialization efforts for ZORYVE® at Arcutis Biotherapeutics and supported the launch of OPZELURA® at Incyte.
• Expanded Palvella’s Board of Directors with the appointment of John D. Doux, M.D., M.B.A., a board-certified dermatologist and seasoned life sciences investor with deep expertise in rare skin diseases and biotechnology investing.

First Quarter 2026 Financial Results

• Cash, cash equivalents, and short-term investments as of March 31, 2026 were $261.9 million, which reflects net proceeds of $215.8 million from a February 2026 equity financing.
• Research and development expenses for the three months ended March 31, 2026 were $9.3 million, as compared to $4.1 million for the three months ended March 31, 2025. The increase was primarily due to increased spending for manufacturing activities and costs resulting from increased headcount and consulting services in 2026.
• General and administrative expenses for the three months ended March 31, 2026 were $5.5 million, as compared to $3.8 million for the three months ended March 31, 2025. The increase was primarily due to increased headcount in 2026, as well as increased professional services related to operating as a publicly-traded company.
• Net loss was $15.8 million, or $1.20 per basic and diluted share, for the three months ended March 31, 2026, as compared to net loss of $8.2 million, or $0.74 per basic and diluted share, for the three months ended March 31, 2025.
• Shares outstanding were 15,738,543 as of May 1, 2026, including 14,342,844 shares of common stock and 1,394,761 common share equivalents assuming conversion of outstanding pre-funded warrants.

Conference Call Details

Palvella will host a conference call and live audiovisual webcast to discuss the Company’s full year 2025 financial results and provide a corporate update at 8:30 a.m. ET today. To access the live webcast, including slides, please click here or visit the “Events & Presentations” section of Palvella’s website. To join the conference call by phone, dial 800-715-9871 (domestic) or +1 646-307-1963 (international) and provide Conference ID 9970701. Participants are encouraged to dial in approximately 15 minutes prior to the start of the call.

A replay of the webcast will be available approximately 2 hours after the conclusion of the call and archived for 90 days under the “Events & Presentations” section of the Company’s website at www.palvellatx.com.

About Palvella Therapeutics

Founded and led by rare disease biotech veterans, Palvella Therapeutics, Inc. (Nasdaq: PVLA) is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare skin diseases and vascular malformations for which there are no FDA-approved therapies. Palvella is developing a broad pipeline of product candidates based on its patented QTORIN™ platform, with an initial focus on serious, rare skin diseases and vascular malformations, many of which are lifelong in nature. Palvella’s lead product candidate, QTORIN™ 3.9% rapamycin anhydrous gel (QTORIN™ rapamycin), is currently being developed for the treatment of microcystic lymphatic malformations, cutaneous venous malformations, and clinically significant angiokeratomas. Palvella’s second product candidate, QTORIN™ pitavastatin, is currently being developed for the treatment of disseminated superficial actinic porokeratosis. For more information, please visit www.palvellatx.com or follow Palvella on LinkedIn or X (formerly known as Twitter).

QTORIN™ rapamycin and QTORIN™ pitavastatin are for investigational use only and neither has been approved by the FDA or by any other regulatory agency for any indication.

Forward-Looking Statements

This press release contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended (Securities Act)). These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Palvella, as well as assumptions made by, and information currently available to, the management of Palvella. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Statements that are not historical facts are forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the expected timing of the presentation of data from clinical trials, Palvella’s clinical development plans and related anticipated development milestones, Palvella’s plans to pursue Breakthrough Therapy Designation, Palvella’s plans to meet with regulatory authorities, Palvella’s expectations regarding the benefits of orphan drug designation and potential benefit of orphan drug exclusivity for QTORIN™ rapamycin for the treatment of microcystic lymphatic malformations, Palvella’s cash, financial resources and expected runway, Palvella’s expectations regarding its programs, including QTORIN™ rapamycin and QTORIN™ pitavastatin, and its research-stage opportunities, including its expected therapeutic potential and market opportunity. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the ability to raise additional capital to finance operations; the ability to advance product candidates through preclinical and clinical development; the ability to obtain regulatory approval for, and ultimately commercialize, Palvella’s product candidates, including QTORIN™ rapamycin and QTORIN™ pitavastatin; the outcome of early clinical trials for Palvella’s product candidates, including the ability of those trials to satisfy relevant governmental or regulatory requirements; the fact that data and results from clinical studies may not necessarily be indicative of future results; Palvella’s limited experience in designing clinical trials and lack of experience in conducting clinical trials; Palvella’s limited experience in commercial manufacturing; the ability to identify and pivot to other programs, product candidates, or indications that may be more profitable or successful than Palvella’s current product candidates; the substantial competition Palvella faces in discovering, developing, or commercializing products; the negative impacts of global events on operations, including ongoing and planned clinical trials and ongoing and planned preclinical studies; the ability to attract, hire, and retain skilled executive officers and employees; the ability of Palvella to protect its intellectual property and proprietary technologies; reliance on third parties, contract manufacturers, and contract research organizations; and the risks and uncertainties described in the filings made by Palvella with the Securities and Exchange Commission (SEC), including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the SEC and available at www.sec.gov. The events and circumstances reflected in our forward-looking statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties that Palvella may face. Except as required by applicable law, Palvella does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. This press release contains hyperlinks to information that is not deemed to be incorporated by reference into this press release.

Contact Information

Investors

Wesley H. Kaupinen
Founder and CEO, Palvella Therapeutics
[email protected]

Media
Marcy Nanus
Managing Partner, Trilon Advisors LLC
[email protected]     

PALVELLA THERAPEUTICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share amounts)

PALVELLA THERAPEUTICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION

(in thousands)

NEW YORK, May 07, 2026 (GLOBE NEWSWIRE) — QuasarEdge Acquisition Corporation (NYSE: QRED, “QuasarEdge”), a Cayman Islands exempted company formed as a special purpose acquisition company, today announced that it has entered into a non-binding letter of intent (“LOI”) with Robseek Intelligence Inc. (“Robseek”) to pursue a potential business combination.

Robseek is an infrastructure platform company building a “device + data + AI + service” ecosystem that transforms from smart device distribution into an AI-driven physical world entry network, starting from the Middle East with its NOVA AI advertising platform and ALIF AI smartphones and smart-devices to capture recurring long-term value through data assets and intelligent distribution efficiency.

QuasarEdge believes the proposed transaction with Robseek may present a unique and potentially extraordinary opportunity for its shareholders.

Under the preliminary, non-binding terms, the parties are exploring a potential share-for-share exchange in which QuasarEdge would acquire 100% of the issued and outstanding equity of Robseek. While the structure remains subject to further negotiation and due diligence, the LOI contemplates an exchange ratio of one QuasarEdge share for each Robseek ordinary share, which would imply the issuance of up to approximately 100 million QuasarEdge shares, based on a preliminary assumed value of $10.00 per share. Such valuation is for illustrative purposes only and remains subject to adjustment based on final structuring, due diligence, and definitive documentation.

The proposed transaction is expected to be subject to customary closing conditions, including regulatory approvals, shareholder approvals, and the availability of financing.

“This letter of intent represents an important first step in our strategy to bring this AI-driven infrastructure platform company to the public markets,” said Qi Gong, Chief Executive Officer of QuasarEdge.

“We are very pleased to enter into this non-binding LOI with QuasarEdge as we pursue a public market; We look forward to working closely with QuasarEdge to evaluate this opportunity.” said Meng Tang, Chief Executive Officer of Robseek.

The transaction remains subject to, among other things, execution of definitive agreements, completion of due diligence, approval of the boards and shareholders of the respective parties (if applicable), and regulatory and other customary conditions.

Important Note Regarding the LOI

The LOI is non-binding and there can be no assurance whatsoever that a definitive agreement will be executed or that the proposed transaction will be completed on the terms described, or at all.

About Robseek Intelligence Inc.

Robseek is an infrastructure platform company building a “device + data + AI + service” ecosystem that transforms from smart device distribution into an AI-driven physical world entry network, starting from the Middle East with its NOVA AI advertising platform and ALIF AI smartphones and smart-devices to capture recurring long-term value through data assets and intelligent distribution efficiency.

About QuasarEdge Acquisition Corporation

QuasarEdge Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. QuasarEdge is not limited to any particular industry or geographic region in identifying prospective targets.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. These statements relate to, among other things, the proposed business combination, future operations, and performance. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties that could cause actual results to differ materially. No assurance can be given that the parties will enter into a definitive agreement or that the proposed transaction will be consummated as described, or at all. QuasarEdge disclaims any obligation to update or revise any forward-looking statements to reflect events or circumstances that occur after the date of this release.

Contact

Qi Gong

Chief Executive Officer

Email: [email protected]

Tel: (212) 612-1400

HOLLISTON, Mass., May 07, 2026 (GLOBE NEWSWIRE) — Harvard Bioscience, Inc. (Nasdaq: HBIO) today announced Chief Executive Officer, John Duke and Chief Financial Officer, Mark Frost’s participation in the following upcoming investor events.

Sidoti Micro Cap Conference


Location: Virtual
Date: Thursday, May 21, 2026
Fireside Chat Presentation: 11:30 AM ET

Benchmark (StoneX) Healthcare House Call Virtual Conference


Location: Virtual
Date: Thursday, May 28, 2026

A live webcast of the Sidoti fireside chat will be made available on Harvard Bioscience’s Investor Relations website. An archived replay of the webcast will be available following the event.

About Harvard Bioscience 

Harvard Bioscience, Inc. is a leading developer, manufacturer and seller of technologies, products and services that enable fundamental advances in life science applications, including research, pharmaceutical and therapy discovery, bio-production and preclinical testing for pharmaceutical and therapy development. Our customers range from renowned academic institutions and government laboratories to the world’s leading pharmaceutical, biotechnology and contract research organizations. With operations in the United States, Europe, and China, we sell through a combination of direct and distribution channels to customers around the world.

For more information, please visit our website at www.harvardbioscience.com.

Company Contact:

Mark Frost
Chief Financial Officer
(508) 893-3120
[email protected]

WILMINGTON, N.C. and CAMROSE, Alberta, May 07, 2026 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), the platform for agentic banking, today announced Vision Credit Union has selected nCino for Commercial Lending, Banking Advisor and Automated Spreading. With agricultural and commercial loans making up almost 70% of its portfolio, Vision needed a more intelligent way to manage its lending operations, one that could automate manual, paper-heavy workflows, and surface the intelligence its team needs to move faster and create a more seamless experience for members.

The Credit Union is uniquely positioned to serve its community with branches and staff embedded throughout Alberta. Vision’s agricultural specialists work directly alongside farming families within their communities to form the deep, trusted relationships that define member loyalty. To protect and deepen those relationships, Vision turned to nCino to equip their teams with better insights and spend more time focused on meaningful conversations with members, enriching their experience every step of the way.

“Our staff are at the heart of what we do at Vision. They’re in the communities, on the farms, having conversations with our members,” said Dan Hautzinger, Chief Executive Officer at Vision Credit Union. “We want to give our teams the tools they need to spend less time on administrative work and more time building the relationships that make us who we are. We’re excited about what we can accomplish with nCino.”

The nCino Commercial Lending Solution will replace existing workflows, supporting the full lending lifecycle—from application through credit decisioning and booking—creating a more seamless borrowing journey for Vision’s members and enabling greater efficiency for staff. Banking Advisor will bring AI-powered intelligence directly into lenders’ workflows, surfacing relevant recommendations and insights at the point of decision. Automated Spreading will streamline the analysis of financial statements, providing Vision’s agricultural specialists with faster access to accurate, actionable data.

“There’s a version of banking that’s all spreadsheets and credit memos, and there’s a version where your lender knows your operation, your family, and your five-year plan,” said Danny Coale, Senior Vice President for Enterprise Banking North America at nCino. “Vision has always been the latter and we’re proud to give their team the technology to keep it that way.”

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.

About Vision Credit Union

Vision Credit Union Ltd. is a community credit union with over 38,000 members across Alberta. Over the past 76 years, Vision has evolved from a single branch in Camrose with assets of $178 to become the province’s second-largest credit union, with assets exceeding $2.6 billion and branches in 24 rural Alberta communities. Learn more about Vision Credit Union at www.visioncu.ca

Media Contact 
Riley Keyzer 
[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 “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” 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 a representation 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 including, but not limited to risks associated with (i) adverse changes in the financial services industry, including as a result of customer consolidation or bank failures; (ii) adverse changes in economic, regulatory, or market conditions, including as a direct or indirect consequence of higher interest rates; (iii) risks associated with acquisitions we undertake, (iv) breaches in our security measures or unauthorized access to our customers’ or their clients’ data; (v) the accuracy of management’s assumptions and estimates; (vi) our ability to attract new customers and succeed in having current customers expand their use of our solution, including in connection with our migration to an asset-based pricing model; (vii) 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; (viii) 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; (ix) fluctuation of our results of operations, which may make period-to-period comparisons less meaningful; (x) our ability to manage our growth effectively including expanding outside of the United States; (xi) adverse changes in our relationship with Salesforce; (xii) our ability to successfully acquire new companies and/or integrate acquisitions into our existing organization; (xiii) the loss of one or more customers, particularly any of our larger customers, or a reduction in the number of users our customers purchase access and use rights for; (xiv) 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; (xv) our ability to maintain our corporate culture and attract and retain highly skilled employees; and (xvi) the outcome and impact of legal proceedings and related fees and expenses. 

LOWELL, Mass., May 07, 2026 (GLOBE NEWSWIRE) — MACOM Technology Solutions Holdings, Inc. (“MACOM”) (Nasdaq: MTSI), a leading supplier of semiconductor products, today announced its financial results for its fiscal second quarter ended April 3, 2026.

Second
Quarter Fiscal Year
2026
GAAP Results

• Revenue was $289.0 million, an increase of 22.5%, compared to $235.9 million in the previous year fiscal second quarter and an increase of 6.4% compared to $271.6 million in the prior fiscal quarter;
• Gross margin was 56.9%, compared to 55.2% in the previous year fiscal second quarter and 55.9% in the prior fiscal quarter;
• Income from operations was $50.8 million, or 17.6% of revenue, compared to income from operations of $34.9 million, or 14.8% of revenue, in the previous year fiscal second quarter and income from operations of $43.3 million, or 15.9% of revenue, in the prior fiscal quarter; and
• Net income was $46.3 million, or $0.60 per diluted share, compared to net income of $31.7 million, or $0.42 per diluted share, in the previous year fiscal second quarter, and net income of $48.8 million, or $0.64 per diluted share, in the prior fiscal quarter.

Second
Quarter Fiscal Year
2026
Adjusted Non-GAAP Results

• Adjusted gross margin was 58.5%, compared to 57.5% in the previous year fiscal second quarter and 57.6% in the prior fiscal quarter;
• Adjusted income from operations was $80.5 million, or 27.8% of revenue, compared to adjusted income from operations of $59.8 million, or 25.4% of revenue, in the previous year fiscal second quarter and adjusted income from operations of $74.0 million, or 27.2% of revenue, in the prior fiscal quarter; and
• Adjusted net income was $84.3 million, or $1.09 per diluted share, compared to adjusted net income of $64.3 million, or $0.85 per diluted share, in the previous year fiscal second quarter and adjusted net income of $78.2 million, or $1.02 per diluted share, in the prior fiscal quarter.

Management Commentary

“We are pleased with our first half fiscal year results and look forward to strong revenue growth and profitability in the second half,” said Stephen G. Daly, President and Chief Executive Officer, MACOM.

Business Outlook

For the fiscal third quarter ending July 3, 2026, MACOM expects revenue to be in the range of $331 million to $339 million. Adjusted gross margin is expected to be between 59.0% and 60.0%, and adjusted earnings per diluted share is expected to be between $1.31 and $1.37 utilizing an anticipated non-GAAP income tax rate of 3% and 78.5 million fully diluted shares outstanding.

Conference
Call

MACOM will host a conference call on Thursday, May 7, 2026, at 8:30 a.m. Eastern Time to discuss its fiscal second quarter 2026 financial results and business outlook. Investors and analysts may visit MACOM’s Investor Relations website at https://ir.macom.com/events-webcasts to register for a user-specific access code for the live call or to access the live webcast. A replay of the call will be available within 24 hours and remain accessible by all interested parties for approximately 90 days.

About MACOM

MACOM designs and manufactures high-performance semiconductor products for the Industrial and Defense, Data Center and Telecommunications industries. MACOM services over 6,000 customers annually with a broad product portfolio that incorporates RF, Microwave, Analog and Mixed Signal and Optical semiconductor technologies. MACOM has achieved certification to the IATF16949 automotive standard, the AS9100D aerospace standard, the ISO9001 international quality standard and the ISO14001 environmental management standard. MACOM operates facilities across the United States, Europe, Asia and is headquartered in Lowell, Massachusetts.

Special Note Regarding Forward-Looking Statements

This press release and the associated earnings call contains forward-looking statements. These forward-looking statements include, among others, statements about MACOM’s strategic plans, priorities and long-term growth drivers, our ability to execute our long-term strategy, strengthen our position and drive market share gains and growth, our ability to develop new products and differentiated solutions, achieve market acceptance of those products and solutions and better address certain markets, expand our capabilities and extend our product offerings, including through our fabrication facility execution and continued improvements, our team’s capabilities and technologies and expansion and growth thereof and any potential financial benefits derived by and financial impact to MACOM therefrom, strength and competitiveness of new product introductions and technology portfolio expansion, including the anticipated rate of new product introductions and technology licensing and transfer activities, anticipated demand for our products, including backlog levels and book-to-bill trends, MACOM’s profitability, revenue targets, gross margin and operating margin improvements, end-market-specific revenue growth expectations, prospects and growth opportunities in our three primary markets, including the anticipated timing of production programs and associated revenues, the potential impact to our business of an economic downturn or recession, anticipated financial and business performance improvements, expectations regarding cash flow from operations and capital expenditures, our anticipated non-GAAP income tax rate and the expected impact of recent tax legislation thereon, MACOM’s strategic investment and other plans, including investments and agreements intended to further strengthen our supply chain and support our revenue growth objectives, negotiation and finalization of a definitive agreement with, and receipt of, funding from the Federal and State governments, the estimated financial results for our 2026 fiscal third quarter and the stated business outlook and future results of operations.

These forward-looking statements reflect MACOM’s current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those indicated by the forward-looking statements, including statements regarding our business outlook, strategic plans and priorities, expectations, anticipated drivers of future revenue growth, our plans for use of our cash and cash equivalents and short-term investments, interest rate and foreign currency risks, our ability to meet working capital requirements, estimates and objectives for future operations, our future results of operations and our financial position; and those other factors described in “Risk Factors” in MACOM’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the SEC. These forward-looking statements speak only as of the date of this press release, and MACOM undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Discussion Regarding the Use of Historical and Forward-Looking Non-GAAP Financial Measures

In addition to United States Generally Accepted Accounting Principles (“GAAP”) reporting, MACOM provides investors with financial measures that have not been calculated in accordance with GAAP, such as: non-GAAP gross profit and gross margin, non-GAAP operating expenses, non-GAAP income from operations and operating margin, non-GAAP EBITDA, non-GAAP net income, non-GAAP diluted earnings per share, non-GAAP diluted shares, non-GAAP income tax rate and non-GAAP interest income. In this release or elsewhere, we may alternatively refer to such non-GAAP measures as “adjusted” measures. This non-GAAP information excludes the effect, where applicable, of intangible amortization expense, share-based compensation expense, non-cash interest, net, acquisition and integration related costs, loss on debt extinguishment, and the tax effect of each non-GAAP adjustment.

Management believes these excluded items are not reflective of our underlying performance and uses these non-GAAP financial measures to: evaluate our ongoing operating performance and compare it against prior periods, make operating decisions, forecast future periods, evaluate potential acquisitions, compare our operating performance against peer companies and assess certain compensation programs. We believe this non-GAAP financial information provides additional insight into our ongoing performance and have therefore chosen to provide this information to investors to help them evaluate the results of our ongoing operations and enable more meaningful period-to-period comparisons. These non-GAAP measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.

A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. We have not provided a reconciliation with respect to any forward-looking non-GAAP financial data presented because we do not have and cannot reliably estimate certain key inputs required to calculate the most comparable GAAP financial data, such as future acquisition costs, the possibility and impact of any litigation costs, changes in our GAAP effective tax rate and impairment charges. We believe these unknown inputs are likely to have a significant impact on any estimate of the comparable GAAP financial data.

Investors are cautioned against placing undue reliance on non-GAAP financial measures and are urged to review and consider carefully the adjustments made by management to the most directly comparable GAAP financial measures. Non-GAAP financial measures may have limited value as analytical tools because they may exclude certain expenses that some investors consider important in evaluating our operating performance or ongoing business performance. Further, non-GAAP financial measures may have limited value for purposes of drawing comparisons between companies because different companies may calculate similarly titled non-GAAP financial measures in different ways because non-GAAP measures are not based on any comprehensive set of accounting rules or principles.

Additional information and management’s assessment regarding why certain items are excluded from our non-GAAP measures are summarized below:

Amortization Expense – is related to acquired intangible assets which are based upon valuation methodologies and are generally amortized over the expected life of the intangible asset at the time of acquisition, which may result in amortization amounts that vary over time. This non-cash expense is not considered by management in making operating decisions.

Share-Based Compensation Expense – includes share-based compensation expense for awards that are equity and liability classified on our balance sheet and the related employer tax expense at vesting. Share-based compensation expense is partially outside of our control due to factors such as stock price volatility and interest rates, which may be unrelated to our operating performance during the period in which the expense is incurred. It is an expense based upon valuation methodologies and assumptions that vary over time, and the amount of the expense can vary significantly between companies. Share-based compensation expense amounts are not considered by management in making operating decisions.

Non-cash Interest, Net – includes amounts associated with the amortization of certain fees associated with the establishment or amendment of our convertible notes that are being amortized over the life of the agreements. We believe these amounts are non-cash in nature, are not correlated to future business operations and do not reflect our ongoing operations.

Acquisition and Integration Related Costs – includes items such as professional fees, employee severance and other costs incurred in connection with acquisitions and integration specific activities which are not expected to have a continuing contribution to operations and the amortization of the fair market step-up value of acquired inventory and fixed assets. We believe the exclusion of these items is useful in providing management a basis to evaluate ongoing operating activities and strategic decision making.

Loss on Debt Extinguishment – includes loss on exchange of our convertible notes. This fiscal year 2025 loss is primarily non-cash and we do not believe this amount is reflective of our ongoing operations.

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ax Effect of N
on-GAAP Adjustments – includes adjustments to arrive at an estimate of our non-GAAP income tax rate associated with our non-GAAP income over a period of time. We determine our non-GAAP income tax rate using applicable rates in taxing jurisdictions and assessing certain factors including our historical and forecast earnings by jurisdiction, discrete items, cash taxes paid in relation to our non-GAAP net income before income taxes and our ability to realize tax assets. We generally assess this non-GAAP income tax rate quarterly and have utilized 3% for our first two fiscal quarters of fiscal year 2026 and for our fiscal year 2025. Our historical effective income tax rate under GAAP has varied significantly from our non-GAAP income tax rate due primarily to income taxed in foreign jurisdictions at generally lower tax rates, research and development tax credits and acquisition expenses. We believe it is beneficial for management to review our non-GAAP income tax rate on a consistent basis over periods of time. Items such as those noted above may have a significant impact on our GAAP income tax expense and associated effective tax rate over time.

Adjusted EBITDA – is a calculation that adds depreciation expense to our adjusted income from operations. Management reviews and utilizes this measure for operational analysis purposes. We believe competitors and others in the financial industry also utilize this measure for analysis purposes.

Incremental Shares – is the number of potential shares of common stock issuable upon the exercise of stock options, restricted stock, restricted stock units and conversion of convertible debt which were not included in the calculation of our GAAP diluted shares. We believe competitors and others in the financial industry utilize this non-GAAP measure for analysis purposes.

Company Contact:

MACOM Technology Solutions Holdings, Inc.
Stephen Ferranti
Senior Vice President, Corporate Development and Investor Relations
P: 978-656-2977
E: [email protected]