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It has been about a month since the last earnings report for Chubb (CB - Free Report) . Shares have added about 0.9% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Chubb due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

CB Q1 Earnings & Revenues Beat on Higher Underwriting Profit

Chubb Limited reported first-quarter 2026 core operating income of $6.82 per share, which outpaced the Zacks Consensus Estimate by 5.2%. The bottom line increased 85.2% year over year.

Total operating revenues improved 11.8% year over year to $15.3 billion. The top line beat the Zacks Consensus Estimate by 3%.
Chubb Limited’s strong performance was driven by strong growth in P&C underwriting income, investment income and life income. These results were further supported by lower catastrophe losses, leading to an improved combined ratio.

Quarter in Detail

Net premiums written improved 10.7% year over year to $14 billion in the quarter. Our estimate was $13.6 billion, while the Zacks Consensus Estimate was pegged at $13.5 billion.

Net investment income was $1.7 billion, up 9.5% year over year. The Zacks Consensus Estimate was pegged at $1.8 billion, and our estimate was $2 billion.

Property and casualty (P&C) underwriting income was $1.8 billion, reflecting a fourfold increase year over year. Global P&C underwriting income, excluding Agriculture, was $1.6 billion, up more than fourfold year over year.

Chubb Limited incurred pre-tax net catastrophe losses of $500 million, narrower than the year-ago quarter’s loss of $1.64 billion. The losses include $1.47 billion from the California wildfires.

The P&C combined ratio improved 1,170 basis points (bps) on a year-over-year basis to 84% in the quarter under review. The Zacks Consensus Estimate for the combined ratio was pegged at 83, while our estimate was 76.4.

Segmental Update

North America Commercial P&C Insurance: Net premiums written increased 2.3% year over year to $4.7 billion. Our estimate was $5 billion. The combined ratio deteriorated 190 bps to 84%. Our estimate was 72.6%.

North America Personal P&C Insurance: Net premiums written climbed 8.3% year over year to $1.7 billion. Our estimate was $1.7 billion. The combined ratio improved 7,550 bps to 84%. Our estimate was 125.6%.

North America Agricultural Insurance: Net premiums written increased 12.7% from the year-ago quarter to $311 million. Our estimate was $313.8 million. The combined ratio improved 3,000 bps to 37.5%. Our estimate was 74.3%.

Overseas General Insurance: Net premiums written jumped 14.4% year over year to $4.4 billion. Our estimate was $4.2 billion. The combined ratio deteriorated 20 bps to 83.6%. Our estimate was 75%.

Life Insurance: Net premiums written increased 33.1% year over year to $2.3 billion. Our estimate was $1.8 billion. The Life Insurance segment income was $316 million, up 8.5%.

Financial Update

The cash balance of $2.6 billion as of March 31, 2026, increased 6.6% from the 2025-end level. Total shareholders’ equity grew 0.2% from the level at 2025 end to $79.9 billion as of March 31, 2026. Book value per share, as of March 31, 2026, was $189.93, up 0.7% from the figure as of Dec. 31, 2025.

Core operating return on tangible equity expanded 760 bps year over year to 20.6%. Operating cash flow was $3.95 billion in the quarter under consideration, while adjusted operating cash flow was $3.80 billion.

Capital Deployment

In the quarter, Chubb Limited bought back shares worth $1.14 billion and paid $380 million in dividends.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in estimates review.

VGM ScoresAt this time, Chubb has a average Growth Score of C, a score with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of B on the value side, putting it in the second quintile for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Chubb has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerChubb belongs to the Zacks Insurance - Property and Casualty industry. Another stock from the same industry, Travelers (TRV - Free Report) , has gained 1.8% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.

Travelers reported revenues of $11.88 billion in the last reported quarter, representing a year-over-year change of +0%. EPS of $7.71 for the same period compares with $1.91 a year ago.

Travelers is expected to post earnings of $4.85 per share for the current quarter, representing a year-over-year change of -25.5%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.1%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Travelers. Also, the stock has a VGM Score of A.

Key Takeaways CB expands through acquisitions, including Liberty Mutual's insurance businesses in Thailand and Vietnam. Premium growth is supported by commercial P&C rate increases, new business and strong renewal retention. Strong capital and cash generation support dividend growth, buybacks and future growth investments. Chubb Limited (CB - Free Report) has been trading above its 200-day simple moving average (SMA), signaling a short-term bullish trend. Its share price, as of May 29, 2026, was $311.73, down 9.8% from its 52-week high of $345.67.

The 200-day SMA is a key indicator for traders and analysts to identify support and resistance levels. It is considered particularly important as this is the first marker of an uptrend or downtrend.

With a market capitalization of $120.90 billion, the average volume of shares traded in the last three months was 1.7 million.

CB is an OutperformerShares of Chubb have gained 4% in the past year, outperforming the industry’s decline of 7.6%.

Image Source: Zacks Investment Research

CB’s Expensive ValuationShares of Chubb Limited are trading at a premium compared with the Zacks Property and Casualty Insurance industry. Its forward price-to-book value of 1.51X is higher than the industry average of 1.34X.

Shares of The Travelers Companies, Inc. (TRV - Free Report) , W.R. Berkley Corporation (WRB - Free Report) and Kinsale Capital Group, Inc. (KNSL - Free Report) are trading at a multiple higher than the industry average.

CB’s Growth Projection EncouragesThe Zacks Consensus Estimate for Chubb Limited’s 2026 earnings per share indicates a year-over-year increase of 8.1%. The consensus estimate for revenues is pegged at $64.40 billion, implying a year-over-year improvement of 7.4%.

The consensus estimate for 2027 earnings per share and revenues indicates an increase of 7.6% and 4.9%, respectively, from the corresponding 2025 estimates.

Optimist Analyst Sentiment on CBOne of the 11 analysts covering the stock has raised estimates for 2026 and 2027 over the past 30 days. Thus, the Zacks Consensus Estimate for 2026 earnings has moved up 0.4% in the past 30 days, and for 2027, the same has moved north 0.6% in the same time frame.

Target Price Reflects Potential UpsideBased on short-term price targets offered by 24 analysts, the Zacks average price target is $349.42 per share. The average indicates a potential 10.5% upside from the last closing price.

Image Source: Zacks Investment Research

Impressive Earnings Surprise History of CBChubb Limited’s bottom line surpassed earnings estimates in each of the last four quarters, the average being 12.38%.

CB’s Favorable Return on CapitalReturn on equity in the trailing 12 months was 14.3%, better than the industry average of 7.4%. Return on equity, a profitability measure, reflects how effectively a company is utilizing its shareholders’ equity.

Also, return on invested capital (ROIC) has been increasing over the last few quarters amid capital investments made over the same time frame. This reflects CB’s efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 9.5%, better than the industry average of 5.9%.

Factors Benefiting CB StockChubb Limited remains focused on capitalizing on the potential of middle-market businesses (both domestic and international) as well as enhancing traditional core packages and specialty products for long-term growth. In its efforts to accelerate growth, Chubb Limited is also making strategic investments in various initiatives.

CB pursues strategic mergers and acquisitions to diversify its portfolio, add capabilities and synergies, and expand its geographic footprint. Recently, Chubb Limited agreed to acquire the insurance businesses of Liberty Mutual in Thailand and Vietnam. Acquisitions have also improved premium revenues. Premiums should also benefit from commercial P&C rate increases, new business and strong renewal retention. An impressive inorganic growth story helps to achieve a higher long-term return on equity.

Investment income should benefit from improved operating cash flow. Chubb Limited expects the Investment income run rate to continue to grow, as the company reinvests the cash flow at higher rates. Chubb Limited expects adjusted net investment income to be between $1.825 billion and $1.85 billion in the second quarter of 2026.

Chubb Limited has a strong capital position and sufficient cash-generation capabilities, which support wealth distribution to shareholders and growth initiatives.

Being a P&C insurer, CB is exposed to catastrophe events, which induce volatility in underwriting profitability and affect the combined ratio. Given the uncertainty surrounding the magnitude of cat loss, higher losses could drain earnings.

Also, Chubb Limited’s leverage and times interest earned compare unfavorably with the industry.

ConclusionChubb Limited’s market-leading position, compelling portfolio, strong renewal retention, positive rate increases, solid capital position and better return on capital pave the way for long-term growth.

The strong capital and liquidity position enable Chubb Limited to distribute wealth to its shareholders via share buybacks and dividend payouts. The company’s current dividend yield of 1.2% is better than the industry average of 0.2%. The recent 5.2% increase in dividends marks the 33rd straight year of dividend increase. Dividend has witnessed an eight-year (2018-2026) CAGR of 4.6%. This makes the stock an attractive pick for investors seeking a safe, steady cash flow.

However, given its premium valuation, we prefer to stay cautious on this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

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Stock to Watch: Chubb (CB - Free Report) Chubb Limited was formerly known as ACE Limited. ACE Limited after acquiring The Chubb Corp in Jan 2016 assumed the name of Chubb. Headquartered in Zurich, Switzerland, the company boasts being one of the world’s largest providers of property and casualty (P&C) insurance and reinsurance and largest publicly traded P&C insurer, based on market capitalization of $86 billion. Chubb has diversified through acquisitions into many specialty lines, including marine, medical risk, excess property, environmental and terrorism insurance and has local operations in 54 countries and territories. Chubb provides specialized insurance products such as personal accident, supplemental health and life insurance to individuals in select countries. Its reinsurance operations include both P&C and life companies.

CB is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 12.17; value investors should take notice.

11 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.33 to $26.80 per share. CB boasts an average earnings surprise of +12.4%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, CB should be on investors' short list.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Chubb (CB - Free Report) Chubb Limited was formerly known as ACE Limited. ACE Limited after acquiring The Chubb Corp in Jan 2016 assumed the name of Chubb. Headquartered in Zurich, Switzerland, the company boasts being one of the world’s largest providers of property and casualty (P&C) insurance and reinsurance and largest publicly traded P&C insurer, based on market capitalization of $86 billion. Chubb has diversified through acquisitions into many specialty lines, including marine, medical risk, excess property, environmental and terrorism insurance and has local operations in 54 countries and territories. Chubb provides specialized insurance products such as personal accident, supplemental health and life insurance to individuals in select countries. Its reinsurance operations include both P&C and life companies.

CB is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Momentum investors should take note of this Finance stock. CB has a Momentum Style Score of B, and shares are up 0.5% over the past four weeks.

For fiscal 2026, 11 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.32 to $26.80 per share. CB boasts an average earnings surprise of +12.4%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, CB should be on investors' short list.

Chubb (CB - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.

Over the past month, shares of this insurer have returned +1%, compared to the Zacks S&P 500 composite's no change. During this period, the Zacks Insurance - Property and Casualty industry, which Chubb falls in, has gained 1.8%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For the current quarter, Chubb is expected to post earnings of $6.56 per share, indicating a change of +6.8% from the year-ago quarter. The Zacks Consensus Estimate has changed -0% over the last 30 days.

The consensus earnings estimate of $26.8 for the current fiscal year indicates a year-over-year change of +8.1%. This estimate has changed +0.1% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $28.86 indicates a change of +7.7% from what Chubb is expected to report a year ago. Over the past month, the estimate has changed +0.3%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Chubb is rated Zacks Rank #3 (Hold).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

For Chubb, the consensus sales estimate for the current quarter of $15.89 billion indicates a year-over-year change of +7.3%. For the current and next fiscal years, $64.4 billion and $67.58 billion estimates indicate +7.4% and +4.9% changes, respectively.

Last Reported Results and Surprise HistoryChubb reported revenues of $15.3 billion in the last reported quarter, representing a year-over-year change of +11.9%. EPS of $6.82 for the same period compares with $3.68 a year ago.

Compared to the Zacks Consensus Estimate of $14.85 billion, the reported revenues represent a surprise of +2.97%. The EPS surprise was +5.25%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Chubb is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Chubb. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

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WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--LTC Properties Inc. (NYSE: LTC) (“LTC” or the “Company”) will release first quarter earnings on Wednesday, May 6, 2026 after market close.

LTC will conduct a conference call on Thursday, May 7, 2026 at 8:00 a.m. Pacific / 11:00 a.m. Eastern, to provide commentary on the performance and operating results for the quarter ended March 31, 2026.

Conference Call
Interested parties may access the live conference call via the following:

Conference Call Replay
A replay of the call will be available three hours after the live call and through May 21, 2026.

An audio replay of the conference call and the Company’s earnings release and supplemental information package for the current period will be available on the Company’s website at: https://ir.ltcreit.com/

About LTC Properties

LTC is a real estate investment trust (REIT) focused on seniors housing and health care properties, investing through SHOP, triple-net leases, joint ventures, and structured finance solutions. The Company’s portfolio includes nearly 190 properties throughout the United States. Based on gross real estate investments, approximately 67% of the Company’s assets are seniors housing communities with the remainder skilled nursing centers. Learn more at www.ltcreit.com.

Forward Looking Statements

This press release includes statements that are not purely historical and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company’s expectations, beliefs, intentions or strategies regarding the future. All statements other than historical facts contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties. All forward-looking statements included in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such forward-looking statements. Although the Company’s management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.

More News From LTC Properties Inc.

Back to Newsroom

Calgary, Alberta--(Newsfile Corp. - April 27, 2026) - Lotus Creek Exploration Inc. (TSXV: LTC) ("Lotus Creek" or the "Company") is pleased to provide the following first quarter operating results and operational update to shareholders. Lotus Creek's Interim Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended March 31, 2026 are available for review on Lotus Creek's website at www.lotuscreek.ca and on Lotus Creek's SEDAR+ profile at www.sedarplus.ca.

QUARTERLY HIGHLIGHTS

Adjusted funds from operations ("Adjusted FFO") for the first quarter of 2026 was $10.6 million as compared to $1.6 million for the first quarter of 2025 and $7.9 million for the previous quarter. Cash flows from operating activities for the first quarter of 2026 was $10.2 million compared to cash flows used in operating activities of $0.4 million for the first quarter of 2025 and cash flows from operating activities of $5.5 million for the previous quarter. See "Non-GAAP and Other Financial Measures" in this press release.Production for the first quarter of 2026 was 4,010 boe per day comprised of 2,274 bbl per day of crude oil, 896 bbl per day of NGLs and 5,040 mcf per day of natural gas. Production increased from the previous quarter of 3,391 boe per day due to the wells in Wilson Creek brought onstream in March 2026. During the first 30 days of production, the wells averaged over 1,340 boe per day, consisting of 725 bbl per day of crude oil, 360 bbl per day of NGLs, and 1,530 mcf per day of natural gas. The wells remain in the early stages of production, with two wells currently flowing and one well on pump, and the Company continues to monitor performance and optimize operations.During the first quarter of 2026, the Company drilled, completed, equipped and brought onstream 3.0 gross (2.9 net) light oil Belly River wells in Wilson Creek for an average cost of $4.1 million per well. Lotus Creek invested a total of $14.4 million of capital during the first quarter of 2026, which included the successful drilling activity in Wilson Creek, and the commissioning of a new treater in Wilson Creek which will become fully operational in the second quarter. The treater is expected to increase netback, with Wilson Creek volumes no longer needing to be trucked to a cleaning facility, but transported to a sales terminal and sold at a premium. The treater is expected to achieve payout in 2027.As at March 31, 2026, the Company had a net debt of $13.7 million and a net debt to quarterly funds from operations of 0.3 times. Subsequent to period end, the Company completed its borrowing base review, extending the maturity of its credit facilities with ATB Financial (the "Credit Facilities") to May 31, 2028. The Company is expected to have ample liquidity through its Credit Facilities. See "Non-GAAP and Other Financial Measures" in this press release.Subsequent to March 31, 2026, the Company sold its non-core assets located in Tableland, Saskatchewan (the "Tableland Assets") to an unrelated third party (the "Purchaser") for aggregate proceeds of $13.0 million (the "Transaction"). The Transaction was completed pursuant to an asset purchase and sale agreement between the Company and the Purchaser, which closed on April 22, 2026. The average production from the Tableland Assets in March 2026 comprised of approximately 300 boe per day (80% light crude oil), primarily from the Bakken and Torquay formation. The Company used the proceeds received from the Transaction to repay the debt outstanding under its Credit Facilities and strengthen the balance sheet of the Company.Lotus Creek generated a net loss of $4.4 million for the first quarter of 2026 compared to a net loss of $0.5 million for the first quarter of 2025 and net income of $2.6 million for the previous quarter. The net loss in the first quarter of 2026 was inclusive of a $9.2 million unrealized loss on outstanding risk management contracts. 2026 REVISED GUIDANCE AND EXPANDED CAPITAL BUDGET

The Board of Directors of the Company has approved an increase in the 2026 capital budget from $42.0 million to $50.0 million. The additional $8.0 million reinvested in the 2026 capital program will be focused on accelerating 2.0 gross (2.0 net) light oil Belly River wells in Wilson Creek. The Company plans to replace the production from the Tableland Asset disposition with added production from the expanded drilling program. As a result, the Company has revised its annual and fourth quarter of 2026 average production guidance upward due to the approved increase in the 2026 capital budget. The full-year 2026 budget advances a strategy of disciplined, profitable per-share growth while maintaining financial resilience in a volatile oil price environment. The Company intends to direct capital to its highest-value projects at Wilson Creek, ensuring a solid foundation to drive shareholder value. This strategy also further leverages the benefit of key foundational investments in 2025, including the 3D seismic program and the new Wilson Creek oil battery constructed in 2025.

Table 1

2026 Previous Fiscal Guidance 2026 Revised Fiscal GuidanceQ1 2026
YTD ActualsAnnual production (boe/d)3,600 - 4,000 3,800 - 4,2004,010Q4 average production (boe/d)3,800 - 4,200 4,800 - 5,200NACapital and abandonment expenditures ($ millions)42.0 50.014.4Crude oil and NGLs weighting (%)77 7679Natural gas weighting (%)23 2421The following table summarizes selected highlights for the three months ended March 31, 2026:

Three months ended(Cdn$ thousands, except per share, share and per boe amounts)Mar 31, 2026Mar 31, 2025 (2)Dec 31, 2025FINANCIAL

Adjusted funds from operations (1)10,6131,6197,920 Per weighted average basic share 0.270.070.20Cash flows from (used in) operating activities10,159(443)5,526 Per weighted average basic share 0.25(0.02)0.14Net (loss) income(4,352)(489)2,638 Per weighted average basic share (0.11)(0.02)0.07Net (debt) surplus (1)(13,657)12,192(9,848)Weighted average shares, basic (thousands) 40,02624,44440,000Shares outstanding, end of period (thousands) 40,10540,00040,000

CAPITAL

Exploration and evaluation expenditures1699,292415Property, plant and equipment expenditures14,23829410,117Decommissioning liabilities settled19-676Total capital and abandonment expenditures14,4269,58611,208Net acquisitions (3)-58,435-

OPERATING

Production

Crude oil (bbl/d)2,2749452,055 Natural gas liquids (bbl/d)896252634 Natural gas (mcf/d)5,0402,6094,213 Total (boe/d)4,0101,6323,391

Average realized prices

Crude oil ($/bbl)93.9289.8274.88 Natural gas liquids ($/bbl)26.2143.2126.74 Natural gas ($/mcf)1.812.232.20

Netback and selected financial results ($/boe)

Petroleum and natural gas sales61.4062.2753.11 Royalties(6.95)(9.07)(4.81) Operating expenses(17.44)(23.92)(16.12) Transportation expenses(0.82)(1.87)(0.70) Operating netback (1)36.1927.4131.48 Realized settled risk management (loss) gain(2.55)-1.03 General and administrative(3.47)(9.24)(6.23) Interest income-0.780.02 Interest and financing charges(0.76)(0.91)(0.91) Adjusted funds from operations (1)29.4118.0425.39 Cash flows from (used in) operating activities28.15(4.94)17.71(1) Adjusted funds from operations, net (debt) surplus and operating netback do not have any standardized meanings under Canadian generally accepted accounting principles ("GAAP") and therefore may not be comparable to similar measures presented by other entities. For additional information related to these measures, including a reconciliation to the nearest GAAP measures, where applicable, see "Non-GAAP and Other Financial Measures".
(2) The commercial operations of Lotus Creek for the first quarter of 2025 are between February 5, 2025 and March 31, 2025.
(3) Net of decommissioning liabilities on date of acquisition.

ABOUT LOTUS CREEK
Lotus Creek is a Canadian exploration and production company with oil production and exploration assets in Central Alberta and Cold Lake, Alberta. On February 5, 2025, Lotus Creek, Gear Energy Ltd. and a third-party closed the previously announced transformative plan of arrangement and the Company commenced commercial operations on close of the plan of arrangement.

Our objective is to be the fastest growing, fully funded, public junior oil and gas company in Canada. We will measure shareholder value creation by profitable growth in earnings, cashflow, production and producing reserves per debt adjusted share.

Key Attributes
✓       High-quality, light sweet oil production base with long life reserves
✓       Material upside in the Wilson Creek assets with strong economics and capital efficiencies
✓       Multiple stacked oil reservoir zones, with open hole, multi-lateral and multi-stage fractured horizontal locations
✓       Well capitalized business model positioned to substantially grow in the coming years

Forward-looking Information and Statements
This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "strategy" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this press release contains forward-looking information and statements pertaining to the following: the new treater in Wilson Creek will become fully operational in the second quarter of 2026 and is expected to improve the Company's netback; the Company's expectation of having ample liquidity through its Credit Facilities; the Company's further revised 2026 budget and guidance including with forecast average production for the full year and fourth quarter (and the expected commodity weightings) and the forecast amount of capital and abandonment expenditures; expected details and timing of capital expenditures in 2026; the intention of the Company to replace the production from the disposition of the Tableland Assets with added production from the expanded drilling program; the expectation that the full-year 2026 budget advances our strategy of disciplined, profitable per-share growth while maintaining financial resilience in a volatile oil price environment; the Company's intention to direct capital to our highest-value projects at Wilson Creek, ensuring a solid foundation to drive shareholder value; the expectation that our strategy further leverages the benefit of key foundational investments in 2025, including the 3D seismic program and the new Wilson Creek oil battery constructed in 2025; . Lotus Creek's objective to be the fastest growing, fully funded, public junior oil and gas company in Canada; that the Company will measure shareholder value creation by profitable growth in cashflow, production and producing reserves per debt adjusted share; our expectation that the Company has a high-quality, light sweet oil production base with long life reserves; the expectation that we have material upside in the Wilson Creek assets with strong economics and capital efficiencies; expectations that our assets include multiple stacked oil reservoir zones, with open hole, multi-lateral and multi-stage fractured horizontal locations; and the Company's expectation that its well capitalized business model positions the Company to substantially grow in the coming years.

The forward-looking information and statements contained in this press release reflect several material factors and expectations and assumptions of Lotus Creek including, without limitation: that Lotus Creek will continue to conduct its operations in a manner consistent with past operations; the duration and impact of tariffs (or other retaliatory trade measures) imposed by Canada or the U.S. (or other countries) on exports and/or imports into and out of such countries; that the upcoming 2026 United States - Mexico - Canada Agreement ("USMCA") review does not significantly impact the ability or costs of Canadian oil and gas companies to export their products into the United States or have other negative to the Canadian economy and/or the Company's business; the ability of the Company to receive all necessary regulatory approvals without significant adverse conditions; the general continuance of current industry conditions; the continuance of existing (and in certain circumstances, the implementation of proposed) tax, royalty and regulatory regimes; that well results will meet expectations; the accuracy of the estimates of Lotus Creek's reserves and resource volumes; certain commodity price and other cost assumptions; and the continued availability of adequate debt and equity financing and funds from operations to fund its planned expenditures. Lotus Creek believes the material factors, expectations and assumptions reflected in the forward-looking information and statements are reasonable, but no assurance can be given that these factors, expectations and assumptions will prove to be correct.

To the extent that any forward-looking information contained herein may be considered a financial outlook, such information has been included to provide readers with an understanding of management's assumptions used for budgeting and developing future plans and readers are cautioned that the information may not be appropriate for other purposes. The forward-looking information and statements included in this press release are not guarantees of future performance and should not be unduly relied upon. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements including, without limitation: the risks and impacts of tariffs (or other retaliatory trade measures) imposed by Canada or the U.S. (or other countries) on exports and/or imports into and out of such countries; the failure to receive any regulatory approvals required for the Company's operations; the impacts of the ongoing United States, Israel and Iran war (and other Middle-East conflicts (including the recent attacks by the U.S. and Israel on Iran and Iranian retaliation), Russia-Ukraine war (and any associated sanctions) and United States interventions in Venezuela on the global economy and on the oil and gas industry in Canada and elsewhere; the impacts of the upcoming USMCA on the ability of Canadian oil and gas companies to export their products into the United States, the Canadian economy and/or the Company's business; the impacts of inflation and supply chain issues; pandemics, political events, natural disasters and terrorism; changes in commodity prices; changes in the demand for or supply of Lotus Creek's products; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans of Lotus Creek or by third party operators of Lotus Creek's properties, increased debt levels or debt service requirements; inability to obtain debt or equity financing as necessary to fund operations, capital expenditures and any potential acquisitions; any ability for Lotus Creek to repay any of its indebtedness when due; inaccurate estimation of Lotus Creek's oil and gas reserve and resource volumes; limited, unfavorable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time to time in Lotus Creek's public documents including risk factors set out in the Company's annual information form for the year ended December 31, 2025, which is available on SEDAR+ at www.sedarplus.ca.

This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about Lotus Creek's prospective results of operations including, without limitation, forecast annual and fourth quarter average production and capital and abandonment expenditures, which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on FOFI. Lotus Creek's actual results, performance or achievement could differ materially from those expressed in, or implied by, these FOFI, or if any of them do so, what benefits Lotus Creek will derive therefrom. Lotus Creek has included the FOFI in order to provide readers with a more complete perspective on Lotus Creek's future operations and such information may not be appropriate for other purposes.

The forward-looking information and statements and FOFI contained in this press release speak only as of the date of this press release, and Lotus Creek does not assume any obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable laws.

Non-GAAP and Other Financial Measures
This press release includes references to non-GAAP and other financial measures that Lotus Creek uses to analyze financial performance. These specified financial measures include non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures, and are not defined by International Financial Reporting Standards ("IFRS") Accounting Standards and are therefore referred to as non-GAAP and other financial measures. Management believes that the non-GAAP and other financial measures used by the Company are key performance measures for Lotus Creek and provide investors with information that is commonly used by other oil and gas companies. These key performance indicators and benchmarks as presented do not have any standardized meaning prescribed by IFRS Accounting Standards and therefore may not be comparable with the calculation of similar measures for other entities. These non-GAAP and other financial measures should not be considered an alternative to or more meaningful than their most directly comparable financial measure presented in the financial statements, as an indication of the Company's performance. Descriptions of the non-GAAP and other financial measures used by the Company as well as reconciliations to the most directly comparable GAAP measure for the three months ended March 31, 2026 and year ended December 31, 2025, where applicable, are provided below.

Adjusted Funds from Operations
Adjusted funds from (used in) operations is a non-GAAP financial measure defined as cash flows from (used in) operating activities before changes in non-cash operating working capital and decommissioning liabilities settled and adding back transaction costs, if any. Transaction costs, which primarily include legal fees and other related acquisition costs, are excluded to provide a measure representing cash flows generated by the Company's routine business operations. Lotus Creek evaluates its financial performance primarily on adjusted funds from operations and considers it a key measure for management and investors as it demonstrates the Company's ability to generate the adjusted funds from operations necessary to fund its capital program, settle decommissioning liabilities and repay debt.

Reconciliation of cash flows from (used in) operating activities to adjusted funds from operations:

($ thousands)Three months ended
Mar 31, 2026Mar 31, 2025Dec 31, 2025Cash flows from (used in) operating activities10,159(443)5,526Decommissioning liabilities settled19-676Change in non-cash operating working capital4281,4151,677Add back: transaction costs764741Adjusted funds from operations10,6131,6197,920Adjusted Funds from Operations per BOE
Adjusted funds from operations per boe is a non-GAAP ratio calculated as adjusted funds from operations, as defined and reconciled to cash flows from (used in) operating activities above, divided by sales production for the period. Lotus Creek considers this a useful non-GAAP ratio for management and investors as it evaluates financial performance on a per boe level, which enables better comparison to other oil and gas companies in demonstrating its ability to generate the adjusted funds from operations necessary to fund its capital program, settle decommissioning liabilities and repay debt

Adjusted Funds from Operations per Weighted Average Basic Share
Adjusted funds from operations per weighted average basic share is a non-GAAP ratio calculated as adjusted funds from operations, as defined and reconciled to cash flows from (used in) operating activities above, divided by the weighted average basic share amount. Lotus Creek considers this non-GAAP ratio a useful measure for management and investors as it demonstrates its ability to generate the adjusted funds from operations, on a per weighted average basic share basis, necessary to fund its capital program, settle decommissioning liabilities and repay debt.

Net (Debt) Surplus
Net (debt) surplus is a capital management measure defined as debt less current working capital items (excluding debt, risk management contracts, and decommissioning liabilities). Lotus Creek believes net (debt) surplus provides management and investors with a measure that is a key indicator of its leverage and strength of its balance sheet. Changes in net (debt) surplus are primarily a result of adjusted funds from operations, capital and abandonment expenditures and equity issuances.

Reconciliation of debt to net (debt) surplus:

Capital structure and liquidity
($ thousands) Mar 31, 2026Dec 31, 2025Debt(9,050)(6,921)Working capital deficit (1) (4,607)(2,927)Net debt (13,657)(9,848)(1) Current assets less current liabilities, excluding risk management contracts and decommissioning liabilities.

Net Debt to Quarterly Annualized Adjusted Funds from Operations
Net debt to quarterly annualized adjusted funds from operations is a non-GAAP ratio and is defined as net debt, as defined and reconciled to debt above, divided by the annualized adjusted funds from operations, as defined and reconciled to cash flows from operating activities above, for the most recently completed quarter. Lotus Creek uses net debt to quarterly annualized adjusted funds from operations to analyze financial and operating performance. Lotus Creek considers this a key measure for management and investors as it demonstrates the Company's ability to pay off its debt and take on new debt, if necessary, using the most recent quarter's results. When the Company is in a net surplus position, the Company's net debt to annualized adjusted funds from operations is not applicable.

Operating Netback
Operating netbacks are non-GAAP ratios calculated based on the amount of revenues received on a per unit of production basis after royalties and operating costs. Management considers operating netback to be a key measure of operating performance and profitability on a per unit basis of production. Management believes that operating netback provides investors with information that is commonly used by other oil and gas companies. The measurement on a per boe basis assists management and investors with evaluating operating performance on a comparable basis.

Per BOE Figures
This press release represents various results on a per boe basis, including adjusted funds from operations, cash flows (used in) from operating activities, petroleum and natural gas sales, royalties, operating costs, transportation costs, general and administrative, interest income and interest and financing charges. These supplementary financial measures are determined by dividing the applicable financial figure as prescribed under IFRS by the Company's total sales volumes for the respective period.

Barrels of Oil Equivalent
Disclosure provided herein in respect of BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of six Mcf to one Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Additionally, given that the value ratio based on the current price of crude oil, as compared to natural gas, is significantly different from the energy equivalency of 6:1; utilizing a conversion ratio of 6:1 may be misleading as an indication of value.

Initial Production Rates
References in this press release to initial production ("IP") rates, other short-term production rates or initial performance measures relating to new wells are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will commence production and decline thereafter and are not indicative of long-term performance or of ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for the Company. Accordingly, the Company cautions that such short-term rates should be considered to be preliminary.

Oil & Gas Matters
References to heavy oil, light and medium oil, natural gas liquids and natural gas in this press release refer to the heavy crude oil, light crude oil and medium crude oil, natural gas liquids and conventional natural gas, respectively, product types as defined in National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294469

Source: Lotus Creek Exploration Inc.

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LTC Properties (LTC) gets its prior hold rating reaffirmed, and agreeing with the latest neutral consensus this week. Key strengths are macro demand for senior and skilled nursing facilities, as well as a trend of portfolio growth that could drive upside. This REIT pays a monthly dividend which could be an income idea, but has not proven itself as a steady growth idea.

LTC Properties (LTC - Free Report) came out with quarterly funds from operations (FFO) of $0.69 per share, missing the Zacks Consensus Estimate of $0.72 per share. This compares to FFO of $0.65 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of -4.17%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.68 per share when it actually produced FFO of $0.7, delivering a surprise of +2.94%.

Over the last four quarters, the company has surpassed consensus FFO estimates three times.

LTC, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $26.34 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 19.4%. This compares to year-ago revenues of $31.44 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

LTC shares have added about 11.1% since the beginning of the year versus the S&P 500's gain of 6%.

What's Next for LTC?While LTC has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for LTC was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.72 on $35.14 million in revenues for the coming quarter and $2.80 on $138.65 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Outfront Media (OUT - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.

This billboard, transit and digital display advertising company is expected to post quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of +100%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Outfront Media's revenues are expected to be $419.85 million, up 7.5% from the year-ago quarter.

LTC Properties, Inc. (LTC) Q1 2026 Earnings Call Transcript

If you are looking for two grand a month and you have capital, you’re likely past at least your fifties. Dividend stocks like Realty Income (NYSE:O | O Price Prediction), LTC Properties (NYSE:LTC), and Diversified Royalty (OTCMKTS:BEVFF) are your best bets, and each of them will serve a different purpose for your portfolio.

If I were to build a $2,000-a-month dividend portfolio today, I would start with a minimum of $480k. That looks like a lot, but that’s where a 5% yield fetches you $2,000 a month. If you don’t have that amount, you can look into covered-call ETFs with very high yields, but I do not think they’re worth going for unless you are over 70. 

If your dividend portfolio is giving you a better yield than some long-term Treasuries, while giving you “exposure” to the market, there’s always a big catch involved. You shouldn’t touch anything with a double-digit yield unless you really know what that catch is.

But without further ado, let’s look into the stocks that can realistically replace or double what you get from Social Security.

Realty Income (O) Fun fact: out of all the Dividend Aristocrat stocks out there, only five of them yield above 5%. And out of those five, only one pays monthly, and that’s Realty Income. That’s why this REIT stock is called The Monthly Dividend Company. It has been paying rising monthly dividends for decades, and I’d argue it’s safer than many mainstream dividend ETFs on its own.

But how come?

Realty Income looks scary if you went through 2008 and you automatically view all real estate investments as risky. In 2026, that’s no longer the case. These companies have learned a lot since then and have weathered the fast-paced interest rate hikes since 2022, and have kept gushing cash.

Realty Income in particular has some of the strongest characteristics because its tenants are mostly retail businesses that themselves are quite defensive. These tenants miss payments once in a blue moon, and occupancy remains high regardless of the broader economic environment. In 2008, Realty Income still had a 97% occupancy rate.

O stock yields over 5%, pays monthly, and I’d argue has 30%-plus upside within the next two years as interest rates eventually come down.

LTC Properties (LTC) Before you ask, yes, this is another REIT. If you are looking for monthly dividend stocks that yield high and are reliable, most of the options you will find are REITs. However, real estate companies aren’t a monolith, and it’s fine to have a good chunk of your dividend portfolio invested in them if you know what the underlying business is doing.

For LTC Properties, it is a business that invests in senior housing and healthcare properties. If you look at the long-term megatrends, it’s clear why it’s worth investing here because senior housing is heading into a critical shortage due to demographic issues, and the issues keep piling on.

Experts say there will be a shortage of 550,000 to over 600,000 units by 2030. I believe the coming decades are going to be very fruitful for this company as senior housing supply tightens and margins rise. And it should tighten much faster than most other real estate sectors, as not many people are paying attention to the impending nursing home crunch.

You get a 5.96% monthly dividend yield to get exposure to this under-the-radar sector.

Diversified Royalty (BEVFF) There are very few options outside of real estate that can give you a high monthly yield through just one dividend stock, that too reliably. BEVFF is among the strongest options right now, though the catch is that it is a smaller business. If you’re willing to dip your toes into a <$1 billion company in exchange for solid upside potential and monthly yields, I’d look into BEVFF stock.

This is a multi-royalty company that acquires “predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors”. In short, it invests in safer cash flow streams and then returns that cash back to you in the form of dividends, plus some capital gains.

And the business has a very good track record in the past decade.

It has taken some hits during downturns, but BEVFF has managed to climb back out every time. You get a 6.6% yield.

Of the $33 million in operating cash flow over the past 12 months, it put $28 million into dividends and $1 million into stock-based compensation. I’d expect the dividend growth rate to be ~5% annually going forward, which is in line with earnings growth expectations. It’s tight, but again, you’re unlikely to find a safer dividend stock with a higher monthly yield.

Calgary, Alberta--(Newsfile Corp. - May 25, 2026) - Lotus Creek Exploration Inc. (TSXV: LTC) ("Lotus Creek" or the "Company") is pleased to announce that the April Operational Update to Shareholders has been posted to the Company's website and can be accessed via the following link: April Operational Update FOR FURTHER INFORMATION ABOUT LOTUS CREEK PLEASE CONTACT: Kevin Johnson Mitchell Harris President & CEO VP Finance & CFO 403-538-8435 403-444-1465 Email: [email protected]   Website: www.lotuscreek.ca       To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298718

LTC Expands SHOP Platform with $54 Million Acquisition and Welcomes MorningStar Senior Living to SHOP LTC Properties, Inc. (NYSE: LTC) (“LTC” or the “Company”), a real estate investment trust that invests in seniors housing and health care properties, today announced a $54 million SHOP acquisition and the addition of MorningStar Senior Living, the eleventh SHOP operator and ninth new to LTC since launching SHOP in May 2025.

Acquisition Highlights

Property: $54 million acquisition of a 104-unit assisted living and memory care community in Phoenix, Arizona. Operator: The community will continue to be managed by MorningStar Senior Living, an operator new to LTC. Financial Summary: 6.75% cap rate; expected unlevered IRR in the low-to mid-teens. Funding: Revolving line of credit and future proceeds from previously disclosed sales and loan payoffs. Proforma SHOP Portfolio Composition:

LTC’s SHOP focus is on expanding its roster of strong operators to support mutual growth and accelerate the Company’s organic growth profile by acquiring SHOP assets. The following proforma data is as of March 31, 2026 and includes $63 million of acquisitions and $22 million of total sales and payoffs completed to date in the second quarter of 2026.

SHOP Acquisitions: $524 million since the Company’s SHOP launch in May 2025; $171 million year-to-date in 2026. SHOP as % of Annualized Net Operating Income (“NOI”): 28%; expected to grow to 40% by year-end at the $600 million midpoint of LTC’s acquisition guidance. SHOP as % of Gross Investment: 32% up from 0% at May 2025; expected to grow to 45% by year-end at the $600 million midpoint of LTC’s acquisition guidance. Average Age of SHOP Properties: under 10 years. SHOP Operators: Eleven, nine new to LTC since SHOP launched in May 2025. Skilled Nursing as % of Gross Investment: 31% down from 46% at year-end 2024. Accelerating Growth Continues

“This acquisition continues our momentum as we move closer to our $600 million midpoint investment guidance for 2026, and we are excited to add MorningStar Senior Living as one of our SHOP operators. Successful partnerships are built on deep relationships, which is the case here and for all of our operator partners. Since our platform launch, we have partnered with eleven SHOP operating partners, nine new to LTC,” said Michael Bowden, LTC’s Senior Vice President, Investments. “We continue to build our acquisition pipeline with a healthy volume of potential SHOP acquisitions, supporting our strategy to position LTC for higher intrinsic growth."

"Partnering with LTC marks an exciting new chapter for MorningStar Senior Living. We appreciate LTC’s strategic approach to SHOP and their reputation for building enduring operator relationships. With LTC's capital behind us, we are well-positioned to accelerate our growth and deliver exceptional lifestyle experiences for our residents," said Jamie Ranzen, President and Chief Investment Officer, MorningStar Senior Living.

About LTC

LTC is a real estate investment trust (REIT) focused on seniors housing and health care properties, principally investing through SHOP, as well as triple-net leases, and joint ventures. The Company’s portfolio includes nearly 190 properties throughout the United States. Based on gross real estate investments, approximately 68% of the Company’s assets are seniors housing communities with the remainder skilled nursing centers. Learn more at www.ltcreit.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, adopted pursuant to the Private Securities Litigation Reform Act of 1995. Statements that are not purely historical may be forward-looking. You can identify some of the forward-looking statements by their use of forward-looking words, such as “believes,” “expects,” “may,” “will,” “could,” “would,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates” or “anticipates,” or the negative of those words or similar words. Examples of forward-looking statements include statements regarding 2026 investment guidance, expected SHOP acquisitions, portfolio composition targets, SHOP and NOI growth expectations, unlevered IRR expectations, future funding sources, and other statements regarding future strategy. Forward-looking statements involve inherent risks and uncertainties regarding events, conditions and financial trends that may affect the Company’s future plans of operation, business strategy, results of operations and financial position. A number of important factors could cause actual results to differ materially from those included within or contemplated by such forward-looking statements, including, but not limited to, operational and legal risks and liabilities under the Company’s new SHOP segment; the Company’s dependence on the ability of its third-party independent operators to successfully manage and operate the Company’s SHOP communities; the Company’s dependence on its operators for revenue and cash flow; operational and legal risks and liabilities under the Company’s new SHOP segment; government regulation of the health care industry; changes in federal, state, or local laws limiting REIT investments in the health care sector; federal and state health care cost containment measures including reductions in reimbursement from third-party payors such as Medicare and Medicaid; required regulatory approvals for operation of health care facilities; a failure to comply with applicable law or regulations for the operation of health care facilities; the adequacy of insurance coverage maintained by the Company’s operators; the Company’s reliance on a few major operators; the Company’s ability to find suitable replacement operators for its SHOP communities; the Company’s ability to renew leases or enter into favorable terms of renewals or new leases; the impact of inflation; operator financial or legal difficulties; the sufficiency of collateral securing mortgage loans; an impairment of the Company’s real estate investments; the relative illiquidity of the Company’s real estate investments; the Company’s ability to develop and complete construction projects; the Company’s ability to invest cash proceeds for health care properties; a failure to qualify as a REIT; the Company’s ability to grow if access to capital is limited; and a failure to maintain or increase the Company’s dividend. For a discussion of these and other factors that could cause actual results to differ from those contemplated in the forward-looking statements, please see the discussion under “Risk Factors” contained in the Company’s Annual Report on Form 10‑K for the fiscal year ended December 31, 2025, the Company’s subsequent Quarterly Reports on Form 10‑Q, and the Company’s publicly available filings with the Securities and Exchange Commission. The Company does not undertake any responsibility to update or revise any of these factors or to announce publicly any revisions to forward-looking statements, whether as a result of new information, future events or otherwise. Although the Company’s management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260602943691/en/

A healthcare REIT specializing in senior housing and skilled nursing saw a notable insider make his fifth share purchase over the past 13 months.

David M. Boitano, Executive Vice President and Chief Investment Officer of LTC Properties (LTC +0.03%), reported the purchase of 10,000 shares in multiple open-market transactions on June 4, 2026, according to a SEC Form 4 filing. The executive spent $348,000 in the market to make his acquisition.

Transaction summaryMetricValueShares traded10,000Transaction value$348,000Post-transaction shares (direct)46,160Post-transaction value (direct ownership)~$1.61 millionTransaction value based on SEC Form 4 weighted average purchase price ($34.77); post-transaction value based on June 4, 2026 market close ($34.77).

Key questionsHow does this purchase compare to Boitano's historical transaction pattern?
Since May 2025, Boitano has made five purchases LTC shares, indicating a consistent approach to increasing his direct equity exposure at regular intervals.What proportion of Boitano's holdings does this transaction represent?
The 10,000-share addition increased his direct holdings by about 28%, bringing his position to 46,160 shares and reflecting a stepwise build in ownership.Did the transaction involve indirect holdings or derivative securities?
No; all shares were acquired directly, with no involvement of trusts, family entities, or options, and Boitano maintains no indirect or derivative holdings post-transaction.What is the context of this purchase relative to market performance?
LTC Properties’ shares have appreciated 6.3% over the past twelve months as of June 4, 2026, suggesting that Boitano’s purchase followed a period of moderate share price appreciation.Company overviewMetricValueRevenue (TTM)$309.37 millionNet income (TTM)$120.89 millionDividend yield6.76%1-year price change6.30%* 1-year performance calculated using June 4th, 2026 as the reference date.

Company snapshotOffers investments in senior housing and skilled nursing facilities, generating revenue primarily through rent and interest income from a diversified portfolio of 181 healthcare properties across 27 U.S. states.Operates as a healthcare-focused REIT, utilizing sale-leaseback transactions, mortgage loans, joint ventures, and structured finance to monetize and expand its real estate assets.Serves senior housing operators and skilled nursing facility providers, partnering with 29 operating companies to meet the needs of the aging U.S. population.LTC Properties, Inc. maintains an approximate equilibrium in its portfolio, with roughly 50% allocated to senior housing facilities and the remaining 50% to skilled nursing properties, utilizing varied investment methods including sale-leaseback transactions, mortgage financing, joint ventures, and structured finance arrangements.

LTC collaborates with 29 distinct operating partners and employs a variety of investment methods, including sale-leaseback transactions and joint ventures, across its 181 investments in 27 U.S. states.

What this transaction means for investorsThere are multiple reasons an executive would sell shares in his or her company. They include having to raise money for taxes, other unrelated personal expenses, or possible bearishness in his company’s prospects.

There is only one reason an insider buys stock: they believe the shares will go up.

Boitano joined LTC as chief investment officer and executive vice president in April 2025. Since joining the company, he has periodically purchased shares to build his current 46,160-share position, worth roughly $1.7 million at current prices.

Before he joined LTC, Boitano had spent most of his career at Ventas, Inc. (VTR +0.85%), another senior housing firm. The commitment of personal capital by an executive deeply familiar with the industry signals strong confidence in the future of LTC.

Although LTC shares are up a modest 10% or so since Boitano joined, as a key figure in the company’s SHOP strategy to dramatically expand its presence in senior housing, the latest purchase should be taken as a bullish sign by investors.

Robot Consulting (NASDAQ: LAWR - Get Free Report) and Xperi (NYSE: XPER - Get Free Report) are both small-cap services companies, but which is the better business? We will contrast the two companies based on the strength of their risk, analyst recommendations, institutional ownership, valuation, profitability, earnings and dividends. Analyst Ratings This is a summary of current

New features enable premium subscribers to access unprecedented daypart-level station ranking detail, reported in near real-time as DTS AutoStage surpasses 16 million vehicles globally

LAS VEGAS--(BUSINESS WIRE)--Xperi Inc. (NYSE: XPER) today announced the launch of DTS AutoStage Broadcaster Portal Premium, a new standard in radio intelligence that advances the company’s existing broadcaster portal to provide radio stations with the most comprehensive and timely listening analytics available on the market. The new premium tier features go live on April 16 and will be demonstrated in Xperi’s booth (#C2259) at the NAB Show Las Vegas, April 18-22.

Built on the DTS AutoStage platform — now integrated into more than 16 million vehicles globally, with an average of six hours of listening data per month in markets where cars are tuning into AM/FM radio, generating more than 34 million hours of listening data per month in the U.S. alone — the DTS AutoStage Broadcaster Portal Premium gives subscribing radio stations access, for the first time, to competitive station rankings by daypart (delivered in near real-time) as well as expanded music charts, which are exportable.

“We knew when we first launched the DTS AutoStage Broadcaster Portal that we were capturing lightning in a bottle by providing radio stations with a level of visibility into their audience that had not previously existed,” said Joe D’Angelo, senior vice president of commercial strategy and partnerships, Xperi. “As we talked to broadcasters across the country, we worked to advance the portal to bring them exactly the kind of granular, actionable intelligence they needed. The result is our new premium tier, which for the first time in our industry, enables broadcasters of every size — from major-market leaders to local community stations — to see where their stations rank in their markets and neighboring markets, at any hour of the day!”

Originally launched in 2023, the DTS AutoStage Broadcaster Portal analyzes over 12 billion pieces of data monthly and is currently used by thousands of stations across the U.S., generating metrics that enable radio stations to compete more effectively and expand their audiences in the digital age. Market samples are significant, from the biggest markets to the smallest. For example, vehicle coverage in NYC is 247,000, Cleveland: 46,312, Birmingham, AL: 19,211, Jackson, MS:7,117, and market #302 — Kokomo, IN, is 1,464 as of the beginning of April.

“Sixty-six percent of U.S. adults listen to AM/FM radio daily, making radio one of the most powerful forces in media — and most of that listening is done in the car, with only the tiniest slice of that audience represented in traditional listening analytics,” continued D’Angelo. “Our DTS AutoStage Broadcaster Portal Premium opens up a much wider window into listener behavior, one that telescopes right into where audiences are listening, when they are listening, how long they are listening, and the content they enjoy most — delivering that intelligence with unprecedented speed and scope for smarter programming, decisions, stronger audience connections and new opportunities for monetization.”

The scope of the DTS AutoStage platform, which delivers a unified digital entertainment solution for passenger vehicles, enables the premium tier to set a new industry audience measurement standard. Today, DTS AutoStage spans 13 major automotive brands, including Mercedes-Benz, Maybach, Hyundai, Genesis, Kia, BMW, MINI, Ford, Lincoln, Nissan, Infiniti, Tesla and Audi. Its global vehicle footprint has grown 300% since 2024, achieving a scale that delivers audience listening analytics across 302 distinct U.S. markets, including those that previously had little or no measurement capabilities. With $17 billion in annual broadcast radio ad revenue at stake, the Broadcaster Portal Premium arms radio station sales teams with data tools to pursue advertising opportunities beyond their traditional footprint. By gaining visibility into how their stations perform in adjacent markets where their signal carries, they can identify and quantify spillover listening and turn it into incremental revenue.

New DTS AutoStage Broadcaster Portal Premium capabilities include:

Station rankings with daypart granularity: For the first time in the radio industry, broadcasters can see exactly where their station ranks in its local market and in adjacent markets broken down by daypart: overnight, morning drive, midday, afternoon drive and evening. Near real-time data — by day, week, month and quarter: Instead of waiting months for delayed reports, Premium subscribers can watch patterns evolve near-real time and use them to shape everything from programming to promotions — trending their data by day, week, month or quarter — enabling broadcasters to respond to seasonal spikes, live events or schedule changes while it still matters. Expanded music charts — top 100 songs: Premium subscribers gain access to weekly top 100 song rankings by total listening sessions, with spins, average sessions per spin and week-over-week chart movement. Full data export: Every report in the Premium tier — market share, daypart activity, music charts, ranking position — can be exported and downloaded for use in advertiser presentations and sales materials. Enhanced combined listening heatmaps across expanded markets: Premium subscribers can view listening heatmaps with all broadcast frequencies — FM, HD and translators — combined into one unified view, as well as weekly and monthly heatmap views. Existing Broadcaster Portal features include quarterly listening data provided at the station level by time of day, market, and geography in their core markets and beyond, and including hourly flow, geographic heat maps and more, including the number of vehicles that are utilized for listening reporting, with market sample sizes updated daily.

The DTS AutoStage Broadcaster Portal Premium is available to all radio stations broadcasting in analog and digital. For more information about DTS AutoStage, visit dts.com/autostage. To sign up for the DTS AutoStage Broadcaster Portal Premium, visit https://onboarding.connectedrad.io/.

About Xperi Inc.

Xperi invents, develops, and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands (DTS®, HD Radio™, TiVo®), are integrated into consumer devices and media platforms worldwide, powering smart devices, connected cars and entertainment experiences, including IMAX® Enhanced, a certification and licensing program operated by IMAX Corporation and DTS, Inc. Xperi has created a unified ecosystem that reaches highly engaged consumers, driving increased value for partners, customers and consumers.

About DTS, Inc.

Since 1993, DTS has been dedicated to making the world sound better. Through its pioneering audio solutions for mobile devices, home theater systems, cinema and beyond, DTS provides incredibly high-quality, immersive and engaging audio experiences to listeners everywhere. For more information, please visit www.dts.com.

©2026 Xperi Inc. All Rights Reserved. Xperi, TiVo, DTS, HD Radio and their respective logos are trademark(s) or registered trademark(s) of Xperi Inc. or its subsidiaries in the United States and other countries. IMAX is a registered trademark of IMAX Corporation. All other trademarks and content are the property of their respective owners.

XPER – P

SAN JOSE, Calif.--(BUSINESS WIRE)--Xperi Inc. (NYSE: XPER) (the “Company” or “Xperi”), a media and entertainment technology company that invents, develops, and delivers technologies that enable extraordinary experiences, today announced first quarter 2026 financial results for the period ended March 31, 2026.

“We are beginning to see the inflection in our monetization strategy as our Media Platform revenue grew 45% when compared to the first quarter of 2025. During the quarter, we made significant improvements to our ad products by enhancing targeting and measurement, further growing the TiVo One ad platform footprint, and expanding partnerships that, collectively, are expected to accelerate advertising monetization,” said Jon Kirchner, chief executive officer of Xperi. “The results of the quarter clearly demonstrate the progress we are making on our strategic growth plan. We remain on track for our 2026 goals and reaffirm our financial guidance for the year.”

Financial Highlights

GAAP ($ millions, except per share data)

Q1 FY26

Q1 FY25

Revenue

$114.2

$114.0

GAAP operating income (loss)

$2.2

($16.4)

GAAP net loss

($7.8)

($18.4)

GAAP diluted net loss per share

($0.17)

($0.41)

Non-GAAP* ($ millions, except per share data)

Q1 FY26

Q1 FY25

Revenue

$114.2

$114.0

Non-GAAP operating income

$19.1

$10.0

Non-GAAP net income

$11.0

$7.4

Non-GAAP diluted earnings per share

$0.23

$0.16

Non-GAAP adjusted EBITDA

$25.3

$16.4

Non-GAAP adjusted EBITDA Margin

22.1%

14.4%

Recent Key Operating Achievements

Media Platform

Continued growth in footprint, product enhancements, and expanded advertising partnerships are expected to accelerate advertising monetization revenue

Media Platform revenue grew 45 percent on a year-over-year basis. TiVo One Monthly Active Users more than doubled year-over-year to 5.5 million. Completed integrations with U.S. and European advertising partners to improve data signals while enabling Connected TV inventory for targeted advertising and measurement. These integrations validate TiVo One’s unique audience and incremental reach in the programmatic marketplace. Signed a multi-year partnership agreement with Samba TV, adding industry-leading intelligence and measurement capabilities to enhance the value of TiVo One’s Connected TV inventory for ad buyers. Average Revenue Per User (ARPU) for TiVo One for the trailing 12 months ending March 31, 2026 was $7.10. Connected Car

Continued growth in the Connected Car platform footprint as well as new automotive OEM programs are expected to accelerate monetization

AutoStage footprint expanded by over 45 percent year-over-year, reaching over 16 million vehicles across 13 automotive brands. Launched the AutoStage Broadcast Portal, a subscription service that we believe delivers unprecedented visibility and insights into audience behavior and listening metrics across 300 U.S. radio markets. Signed multi-year HD Radio renewal agreements with two major Asian Tier 1 suppliers and launched HD Radio in new models, including from Audi, Honda, Mercedes, and Toyota. Pay TV

Continued double-digit subscriber growth in video-over-broadband along with key design wins demonstrate partner commitment to the TiVo platform

IPTV subscriber households increased by 19% year-over-year, reaching 3.28 million at quarter end. Introduced new IPTV service offerings designed to drive long-term ARPU growth including a Programmatic Dynamic Ad Insertion solution and our native Digital Rights Management (DRM) solution. Delivered an innovative 4K sports experience with multi-view capability to IPTV households for the Winter Olympics and Super Bowl. Expanded our set-top box partnership with Kaon and executed a multi-year discovery agreement with DirecTV. Consumer Electronics

Continued trend of securing long-term renewals with commitments to our technology

Renewed DTS decoder and post-processing contracts with leading TV brands, including Vizio, Xiaomi, TCL, and a major U.S. retailer. Entered into multi-year partnership with Tencent Music for DTS:X encoding of its music catalog, offering immersive audio as a premium feature to Tencent/QQ Music subscribers. Financial Outlook

The Company reiterates its outlook for 2026 as follows:

Category Outlook

Revenue

$440M to $470M

Adjusted EBITDA Margin1,2

17% to 19%

Operating Cash Flow

$15M to $25M

Capital Expenditures3

$15M to $20M

Non-GAAP Tax Expense2

~$20M

Basic and Fully Diluted Share Count

48M to 49M

Stock-based Compensation

~$31M

Conference Call Information

The Company will hold its first quarter 2026 earnings conference call at 2:00 PM Pacific Time (5:00 PM Eastern Time) on Wednesday, May 6, 2026. To access the call toll-free, please dial 1-888-596-4144, otherwise dial 1-646-968-2525. The conference ID is 5483252. All participants should dial in 15 minutes prior to the start of the call using the conference ID listed above. Alternatively, the call can be accessed via the following webcast link: Xperi Q1 2026 Earnings Call.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding: expectations regarding our future results of operations and financial position, margin expansion and overall growth, including, without limitation, 2026 goals, expectations regarding cash flow, revenue growth and Adjusted EBITDA Margin growth, improved profitability, long term shareholder value, objectives for future operations, and ongoing strategies and operating initiatives, including, without limitation, our cost management focus and monetization goals, timing, and expectations, including, without limitation, expectations regarding monetization revenue, growth in the Media Platform business, including through product enhancements and advertising partnership expectations, monetization in Connected Car, AutoStage footprint growth and strategy, ARPU growth, and other objectives. These forward-looking statements are based on information available to the Company as of the date hereof, as well as the Company’s current expectations, assumptions, estimates and projections that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the words “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “target,” “goal,” and similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under the captions “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025, as updated in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026 to be filed with the Securities and Exchange Commission (the “SEC”), and our other filings with the SEC from time to time. Any forward-looking statements speak only as of the date of this press release and are based on information available to the Company as of the date of this press release, and the Company does not assume any obligation to, and does not intend to, publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

About Xperi Inc.

Xperi invents, develops, and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands (DTS®, HD Radio™, TiVo®) are integrated into consumer devices and media platforms worldwide, powering smart devices, connected cars and entertainment experiences, including IMAX® Enhanced, a certification and licensing program operated by IMAX Corporation and DTS, Inc. Xperi has created a unified ecosystem that reaches highly engaged consumers, driving increased value for partners, customers and consumers.

©2026 Xperi Inc. All Rights Reserved. Xperi, TiVo, DTS, HD Radio and their respective logos are trademark(s) or registered trademark(s) of Xperi Inc. or its subsidiaries in the United States and other countries. IMAX is a registered trademark of IMAX Corporation. All other trademarks and content are the property of their respective owners.

Definition for TiVo One Monthly Active User

Xperi defines a “TiVo One Monthly Active User” as a unique device that has connected to the TiVo video service, which includes the TiVo One advertising platform, at least once within the last 30 days. The TiVo One advertising platform integrates with the device’s operating system on certain “Powered by TiVo” devices, including smart TVs and video-over-broadband products.

Calculation of Average Revenue Per User for TiVo One

Average Revenue Per User (ARPU) for TiVo One is calculated by dividing monetization revenue within Media Platform for the trailing four quarters by the average number of TiVo One Monthly Active Users during that same period. Monetization revenue includes all advertising and data monetization revenue from the TiVo One platform and from other parts of our Media Platform business. This metric helps investors and management measure how effectively the Company monetizes its user base through advertising and data on its platforms.

Non-GAAP Financial Measures

In addition to disclosing financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company’s press release contains non-GAAP financial measures, including Non-GAAP Operating Income/(Loss), Non-GAAP Net Income/(Loss), Non-GAAP Net Income/(Loss) Per Share, Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted EBITDA Margin, Free Cash Flow, and Non-GAAP Tax Expense.

Non-GAAP Operating Income/(Loss) is defined as GAAP Operating Income/(Loss), less the impact of stock-based compensation; amortization of intangible assets; transaction, integration and restructuring costs; severance and retention costs; and other items not indicative of our ongoing operating performance.

Non-GAAP Net Income/(Loss) is defined as GAAP Net Income/(Loss) excluding the impact of stock-based compensation; amortization of intangible assets; transaction, integration and restructuring costs; severance and retention costs; and other items not indicative of our ongoing operating performance; and related tax effects for each adjustment.

Non-GAAP Net Income/(Loss) Per Share is defined as Non-GAAP Income/(Loss) divided by Non-GAAP weighted average shares outstanding - diluted.

Non-GAAP Adjusted EBITDA is defined as GAAP Net Income/(Loss), less the impact of interest expense; provision for income taxes; stock-based compensation; depreciation expense; amortization of intangible assets; amortization of capitalized cloud computing costs; transaction, integration and restructuring costs; severance and retention costs; and other items not indicative of our ongoing operating performance.

Non-GAAP Adjusted EBITDA Margin is defined as Non-GAAP Adjusted EBITDA divided by total revenue.

Free Cash Flow is defined as net cash from operating activities, less cash investments for capitalized internal-use software and purchases of property and equipment.

Non-GAAP Tax Expense is defined as the GAAP provision for income taxes, adjusted to reflect the net direct and indirect income tax effects of the various non-GAAP pretax adjustments.

Management believes that the non-GAAP measures used in this press release provide investors with important perspectives into the Company’s ongoing business and financial performance and provide a better understanding of our core operating results reflecting our normal business operations. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. Our use of non-GAAP financial measures has certain limitations in that the non-GAAP financial measures we use may not be directly comparable to those reported by other companies. For example, the terms used in this press release, such as adjusted EBITDA, do not have a standardized meaning. Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of our performance in relation to other companies. We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures in the tables attached hereto. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. All financial data is presented on a GAAP basis except where the Company indicates its presentation is on a non-GAAP basis.

Set forth below are reconciliations of the Company’s reported GAAP to non-GAAP financial measures.

XPER-E

XPERI INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

  Three Months Ended March 31,

2026

2025

Revenue

$

114,206

$

114,033

Operating expenses:

Cost of revenue, excluding depreciation and amortization of intangible assets

30,880

29,599

Research and development

27,083

39,549

Selling, general and administrative

41,787

48,698

Depreciation expense

4,261

2,905

Amortization expense

8,044

9,722

Total operating expenses

112,055

130,473

Operating income (loss)

2,151

(16,440

)

Interest and other income, net

819

2,295

Interest expense - debt

(678

)

(732

)

Income (loss) before taxes

2,292

(14,877

)

Provision for income taxes

10,118

3,489

Net loss

(7,826

)

(18,366

)

Net loss per share - basic and diluted

$

(0.17

)

$

(0.41

)

Weighted-average number of shares used in computing net loss per share - basic and diluted

47,352

44,773

XPERI INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(unaudited)

  March 31, 2026

December 31, 2025

ASSETS

Current assets:

Cash and cash equivalents

$

70,422

$

96,824

Accounts receivable, net

59,898

56,838

Unbilled contracts receivable, net

89,909

78,320

Prepaid expenses and other current assets

28,685

23,631

Deferred consideration from divestiture

11,999

11,880

Total current assets

260,913

267,493

Note receivable, noncurrent

32,474

31,928

Deferred consideration from divestiture, noncurrent

8,351

8,015

Unbilled contracts receivable, noncurrent

73,578

67,417

Property and equipment, net

51,471

51,926

Operating lease right-of-use assets

24,459

27,557

Intangible assets, net

120,838

128,882

Deferred tax assets

6,591

5,281

Other noncurrent assets

28,271

27,330

Total assets

$

606,946

$

615,829

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$

12,604

$

12,352

Accrued liabilities

82,355

82,160

Deferred revenue

15,404

16,137

Total current liabilities

110,363

110,649

Long-term debt

40,000

40,000

Deferred revenue, noncurrent

13,665

15,072

Operating lease liabilities, noncurrent

19,586

21,487

Deferred tax liabilities

1,428

1,428

Other noncurrent liabilities

13,895

13,118

Total liabilities

198,937

201,754

Stockholders' equity:

Common stock

48

47

Additional paid-in capital

1,317,836

1,314,249

Accumulated other comprehensive loss

(6,266

)

(4,438

)

Accumulated deficit

(903,609

)

(895,783

)

Total stockholders' equity

408,009

414,075

Total liabilities and stockholders' equity

$

606,946

$

615,829

XPERI INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

  Three Months Ended March 31,

2026

2025

Cash flows from operating activities:

Net loss

$

(7,826

)

$

(18,366

)

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

Amortization of intangible assets

8,044

9,722

Stock-based compensation expense

7,836

12,102

Depreciation of property and equipment

4,261

2,905

Accrued interest income from note receivable

(546

)

(569

)

Accretion of discount from deferred consideration from divestitures

(455

)

(400

)

Deferred income taxes

(1,310

)

(99

)

Other

148

830

Changes in operating assets and liabilities:

Accounts receivable

(2,908

)

233

Unbilled contracts receivable

(17,750

)

(7,366

)

Prepaid expenses and other assets

(6,098

)

(4,197

)

Accounts payable

1,023

(2,653

)

Accrued and other liabilities

(294

)

(12,417

)

Deferred revenue

(2,140

)

(1,983

)

Net cash used in operating activities

(18,015

)

(22,258

)

Cash flows from investing activities:

Purchases of property and equipment

(1,105

)

(1,066

)

Capitalized internal-use software

(3,729

)

(3,127

)

Purchases of intangible assets

—

(14

)

Net cash used in investing activities

(4,834

)

(4,207

)

Cash flows from financing activities:

Repayment of short-term debt

—

(50,000

)

Withholding taxes related to net share settlement of equity awards

(3,553

)

(5,288

)

Payment of debt issuance costs

—

(823

)

Proceeds from long-term debt

—

40,000

Net cash used in financing activities

(3,553

)

(16,111

)

Net decrease in cash and cash equivalents

(26,402

)

(42,576

)

Cash and cash equivalents at beginning of period

96,824

130,564

Cash and cash equivalents at end of period

$

70,422

$

87,988

XPERI INC.

GAAP TO NON-GAAP RECONCILIATIONS

(in thousands, except per share amounts)

(unaudited)

  Three Months Ended March 31,

2026

2025

Reconciliation of net (loss) income:

GAAP net loss

$

(7,826

)

$

(18,366

)

Adjustments to GAAP net loss:

Stock-based compensation(1)

7,836

12,102

Amortization of intangible assets

8,044

9,722

Transaction, integration and restructuring related costs:

Transaction, integration and restructuring costs(2)

285

(54

)

Severance and retention(3)

780

4,644

Income tax adjustment(4)

1,912

(623

)

Non-GAAP net income

$

11,031

$

7,425

(1) Stock-based compensation included in above line items:

Cost of revenue, excluding depreciation and amortization of intangible assets

$

656

$

1,044

Research and development

$

2,263

$

4,423

Selling, general and administrative

$

4,917

$

6,635

(2) Transaction, integration and restructuring costs included in above line items:

Selling, general and administrative

$

285

$

(63

)

Interest and other income, net

$

—

$

9

(3) Severance and retention included in above line items:

Cost of revenue, excluding depreciation and amortization of intangible assets

$

154

$

225

Research and development

$

592

$

2,716

Selling, general and administrative

$

34

$

1,703

(4) The provision for income taxes is adjusted to reflect the net direct and indirect income tax effects of the various non-GAAP pretax adjustments.

Reconciliation of net (loss) income per share:

GAAP diluted net loss per share

$

(0.17

)

$

(0.41

)

Adjustments to GAAP net loss per share:

Stock-based compensation

0.17

0.27

Amortization of intangible assets

0.17

0.22

Transaction, integration and restructuring related costs

0.02

0.10

Income tax adjustment

0.04

(0.01

)

Difference in shares used in calculation

—

(0.01

)

Non-GAAP diluted net income per share

$

0.23

$

0.16

GAAP weighted-average number of shares - basic and diluted

47,352

44,773

Non-GAAP weighted-average number of shares - diluted

47,894

45,719

XPERI INC.

GAAP TO NON-GAAP RECONCILIATIONS

(in thousands)

(unaudited)

  Three Months Ended March 31,

2026

2025

GAAP operating income (loss)

$

2,151

$

(16,440

)

Adjustments to GAAP operating loss:

Stock-based compensation

7,836

12,102

Amortization of intangible assets

8,044

9,722

Transaction, integration and restructuring related costs:

Transaction, integration and restructuring costs

285

(63

)

Severance and retention

780

4,644

Non-GAAP operating income

$

19,096

$

9,965

XPERI INC.

GAAP TO NON-GAAP RECONCILIATIONS

(in thousands)

(unaudited)

  Three Months Ended March 31,

2026

2025

GAAP net loss

$

(7,826

)

$

(18,366

)

Adjustments to GAAP net loss:

Interest expense

856

897

Provision for income taxes

10,118

3,489

Stock-based compensation

7,836

12,102

Depreciation expense

4,261

2,905

Amortization of intangible assets

8,044

9,722

Amortization of capitalized cloud computing costs

908

1,084

Transaction, integration and restructuring related costs:

Transaction, integration and restructuring costs

285

(54

)

Severance and retention

780

4,644

Non-GAAP Adjusted EBITDA

$

25,262

$

16,423

Non-GAAP Adjusted EBITDA Margin(1)

22.1

%

14.4

%

Computation of free cash flow:

Net cash used in operating activities

$

(18,015

)

$

(22,258

)

Adjustments:

Capitalized internal-use software

(3,729

)

(3,127

)

Purchases of property and equipment

(1,105

)

(1,066

)

Non-GAAP free cash flow

$

(22,849

)

$

(26,451

)

Xperi Inc. (XPER) Q1 2026 Earnings Call Transcript

Households returned to 10+ video services while daily viewing surpassed five hours, marking the highest engagement levels since 2021

SAN JOSE, Calif.--(BUSINESS WIRE)--TiVo, a wholly owned subsidiary of Xperi Inc. (NYSE: XPER), today released its Q4 2025 Video Trends Report, which reinforces that video serves as a historically resilient, high-priority category, even as the entertainment landscape grows increasingly fragmented and competitive.

The report finds that even amid economic pressures that could impact discretionary entertainment spending, consumers continue to prioritize home entertainment, watching more video daily than at any time since 2021. In Q4 2025, engagement continued to climb, with households returning to more than 10 video services on average following a brief decline last year, daily viewing surpassing five hours and monthly entertainment spending rising to $161, reflecting year-over-year growth after a post-pandemic dip. The findings reinforce that video serves as a historically resilient, high-priority category, even as the entertainment landscape grows increasingly fragmented and competitive.

As entertainment ecosystems continue to expand, viewing preferences themselves remain relatively stable. About half of respondents prefer streaming services to release an entire season at once, compared to roughly 20% who favor a weekly episode rollout, emphasizing a continued demand for convenience and flexible viewing experiences.

“Consumers are watching more video than ever before, but they’re enjoying that content across an increasingly fragmented mix of platforms and services,” said Geir Skaaden, chief products and services officer at Xperi. “As the entertainment ecosystem continues to expand, helping viewers easily discover and access the content they want has become more important than ever. For advertisers and platforms alike, delivering simple, seamless viewing experiences will be critical to reaching audiences and keeping them engaged.”

As viewing time rises, discovery friction grows

While viewing continues to expand across platforms, content discovery remains a growing challenge. As households manage more services, viewers are navigating a complex content ecosystem, with 40% of consumers checking two to three different apps before deciding what to watch. Additionally, discovery is shifting beyond the platforms themselves with word of mouth (49%) and social media (40%) most often influencing viewers. This reliance on external inputs, combined with increased fragmentation, is making content discovery less efficient and more frustrating for viewers.

Local content stays on top

Looking at consumed content, local programming accounts for nearly 30% of total viewing time, an increase of approximately five percentage points year-over-year. Sports also remain a key driver of engagement, with nearly 60% of sports viewers relying on pay TV as their primary source. Live and local content continue to anchor viewing behavior in a notably fragmented environment.

“The number of viewing options available to consumers continues to grow, but what is most notable is how audiences are responding to that expansion,” said TVREV’s co-founder and lead analyst, Alan Wolk. “Consumers are becoming more selective about where they spend their time and money, and entertainment services remain a priority. Live sports and local programming serve as important anchors, while the broader market is shifting toward simpler, more value-conscious viewing choices. The industry is entering a phase where effective curation and discovery matter just as much as scale.”

While viewing expands, simplicity becomes essential

The report reflects a video ecosystem defined by expanding choice, stronger engagement and increased complexity. Consumers are watching more content across more services, but they are also placing greater value on simplicity, convenience and efficient discovery. For content providers, distributors and advertisers, the findings underscore a growing opportunity to improve how viewers navigate and connect with content in an increasingly crowded marketplace.

Additional TiVo Video Trends Report highlights:

Ad-supported growth: More than half of consumers (54%) now use ad-supported subscription tiers, while AVOD/FAST adoption rose to 70% in Q4 2025, up five percentage points year-over-year. AVOD and FAST services now account for 13% of total viewing time. FAST audiences are watching more: The average FAST user now watches 7.5 channels, up more than two channels year-over-year. Pluto TV, Tubi, Roku Channel and Amazon Prime Video remain the leading FAST destinations. Discovery extends beyond apps: Smart TV home screens are becoming increasingly important gateways for content discovery and advertising, with owners spending 57% of their non-viewing time on the home screen. Consumers are prioritizing value: More than 35% of consumers routinely reassess subscriptions and viewing choices to balance cost, access and content availability. Fragmentation fuels discovery challenges: As the number of services grows, 40% of consumers report checking multiple apps before deciding what to watch. Find more information from the latest Q4 2025 Video Trends Report here.

Methodology

Since 2012, TiVo has surveyed consumers to uncover key trends relevant to TV providers, digital publishers, advertisers and consumer electronics manufacturers. The latest TiVo Video Trends Report surveyed 4,493 adults 18 and older living in the U.S. and Canada during the fourth quarter of 2025. In addition to identifying and analyzing key trends in viewing habits, the TiVo Video Trends Report provides insight into consumer opinions regarding subscription video on demand (SVOD), transactional video on demand (TVOD) and advertising-based video on demand (AVOD) providers, emerging technologies, connected devices, over-the-top (OTT) apps and content discovery features, including personalized recommendations and search.

About TiVo

TiVo brings entertainment together, making it easy to find, watch and enjoy. We serve up the best movies, shows and videos from across live TV, on-demand, streaming services and countless apps, helping people watch on their terms. For studios, networks and advertisers, TiVo targets passionate viewers to increase engagement across all screens. TiVo is a wholly owned subsidiary of Xperi Inc. Learn more at tivo.com.

About Xperi Inc.

Xperi invents, develops and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands (DTS®, HD Radio™, TiVo®), are integrated into consumer devices and media platforms worldwide, powering smart devices, connected cars and entertainment experiences, including IMAX® Enhanced, a certification and licensing program operated by IMAX Corporation and DTS, Inc. Xperi has created a unified ecosystem that reaches highly engaged consumers, driving increased value for partners, customers and consumers.

©2026 Xperi Inc. All Rights Reserved. Xperi, TiVo, DTS, HD Radio and their respective logos are trademark(s) or registered trademark(s) of Xperi Inc. or its subsidiaries in the United States and other countries. IMAX is a registered trademark of IMAX Corporation. All other trademarks and content are the property of their respective owners.

XPER – P

-Full Year 2025 Revenue reached RMB13.6 billion, up 3.8% year-over-year-

-Full Year 2025 International Transaction Volume reached RMB14.0 billion, up 38.6% year-over-year-

- Full Year International Revenues reached RMB3.3 billion, up 32.0% year-over-year and representing 24.6% of total net revenues-

, /PRNewswire/ -- FinVolution Group ("FinVolution" or the "Company") (NYSE: FINV), a leading fintech platform across China and international markets, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025.

For the Three Months
Ended/As of

YoY

Change

For the Full
Year Ended /
As of December
31,

YoY

Change

December 31, 
2024

December
31, 2025

2024

2025

Total Transaction Volume (RMB in
billions)1          

56.9

42.8

-24.8 %

206.2

200.3

-2.9 %

Transaction Volume (China's Mainland)2

54.0

38.7

-28.3 %

196.1

186.3

-5.0 %

Transaction Volume (International)3

2.9

4.1

41.4 %

10.1

14.0

38.6 %

Total Outstanding Loan Balance (RMB in
billions)

71.5

70.9

-0.8 %

71.5

70.9

-0.8 %

Outstanding Loan Balance (China's Mainland)4  

69.8

68.3

-2.1 %

69.8

68.3

-2.1 %

Outstanding Loan Balance (International)5

1.7

2.6

52.9 %

1.7

2.6

52.9 %

Fourth Quarter 2025 China Market Operational Highlights

Cumulative registered users6 reached 187.4 million as of December 31, 2025, an increase of 8.6% compared with December 31, 2024. Cumulative borrowers7 reached 29.0 million as of December 31, 2025, an increase of 8.2% compared with December 31, 2024. Number of unique borrowers8 for the fourth quarter of 2025 was 1.5 million, a decrease of 28.6% compared with the same period of 2024. Transaction volume2 was RMB38.7 billion for the fourth quarter of 2025, a decrease of 28.3% compared with the same period of 2024. Transaction volume facilitated for repeat individual borrowers9 for the fourth quarter of 2025 was RMB30.8 billion, a decrease of 34.0% compared with the same period of 2024. Outstanding loan balance4 was RMB68.3 billion as of December 31, 2025, a decrease of 2.1% compared with December 31, 2024. Average loan size10 was RMB12,877 for the fourth quarter of 2025, compared with RMB11,466 for the same period of 2024. Average loan tenure11 was 8.2 months for the fourth quarter of 2025, compared with 8.0 months for the same period of 2024. 90 day+ delinquency ratio12 was 2.85% as of December 31, 2025. Fourth Quarter 2025 International Market Operational Highlights

Cumulative registered users13 reached 52.1 million as of December 31, 2025, an increase of 45.9% compared with December 31, 2024. Cumulative borrowers14 for the international markets reached 11.7 million as of December 31, 2025, an increase of 67.1% compared with December 31, 2024. Number of unique borrowers15 for the fourth quarter of 2025 was 3.8 million, an increase of 133.8% compared with the same period of 2024. Number of new borrowers16 for the fourth quarter of 2025 was 1.6 million, an increase of 117.3% compared with the same period of 2024. Transaction volume3 reached RMB4.1 billion for the fourth quarter of 2025, an increase of 41.4% compared with the same period of 2024. Outstanding loan balance5 reached RMB2.6 billion as of December 31, 2025, an increase of 52.9% compared with December 31, 2024. International business revenue was RMB950.9 million (US$136.0 million) for the fourth quarter of 2025, an increase of 28.6% compared with the same period of 2024, representing 31.4% of total revenue for the fourth quarter of 2025. Fourth Quarter 2025 Financial Highlights

Net revenue was RMB3,023.9 million (US$432.4 million) for the fourth quarter of 2025, compared with RMB3,456.7 million for the same period of 2024. Net profit was RMB415.5 million (US$59.4 million) for the fourth quarter of 2025, compared with RMB680.8 million for the same period of 2024. Non-GAAP adjusted operating income,17 which excludes share-based compensation expenses before tax, was RMB519.8 million (US$74.3 million) for the fourth quarter of 2025, compared with RMB822.0 million for the same period of 2024. Diluted net profit per American depositary share ("ADS") was RMB1.63 (US$0.23) and diluted net profit per share was RMB0.33 (US$0.05) for the fourth quarter of 2025, compared with RMB2.61 and RMB0.52 for the same period of 2024, respectively. Non-GAAP diluted net profit per ADS was RMB1.77 (US$0.25) and non-GAAP diluted net profit per share was RMB0.35 (US$0.05) for the fourth quarter of 2025, compared with RMB2.74 and RMB0.55 for the same period of 2024, respectively. Each ADS of the Company represents five Class A ordinary shares of the Company. ________________________________________________________________

1 Represents the total transaction volume facilitated in China's Mainland and the international markets on the Company's platforms during the period presented.

2 Represents our transaction volume facilitated in China's Mainland during the period presented. During the fourth quarter, RMB19.0 billion was facilitated under the capital-light model, for which the Company does not bear principal risk.

3 Represents our transaction volume facilitated in markets outside China's Mainland during the period presented. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, for the period after its acquisition.

4 Outstanding loan balance (China's Mainland) as of any date refers to the balance of outstanding loans in China's Mainland market excluding loans delinquent for more than 180 days from such date. As of December 31, 2025, RMB37.8 billion was facilitated under the capital-light model, for which the Company does not bear principal risk.

5 Outstanding loan balance (international) as of any date refers to the balance of outstanding loans in the international markets excluding loans delinquent for more than 30 days from such date. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, as of December 31, 2025, covering both pre- and post-acquisition periods.

6 On a cumulative basis, the total number of users in China's Mainland market registered on the Company's platform as of December 31, 2025.

7 On a cumulative basis, the total number of borrowers in China's Mainland market registered on the Company's platform as of December 31, 2025.

8 Represents the total number of borrowers in China's Mainland who successfully borrowed on the Company's platform during the period presented.

9 Represents the transaction volume facilitated for repeat borrowers in China's Mainland who successfully completed a transaction on the Company's platform during the period presented.

10 Represents the average loan size on the Company's platform in China's Mainland during the period presented.

11 Represents the average loan tenor on the Company's platform in China's Mainland during the period presented.

12 "90 day+ delinquency ratio" refers to the outstanding principal balance of loans, excluding loans facilitated under the capital-light model, that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of loans, excluding loans facilitated under the capital-light model on the Company's platform as of a specific date. Loans that originated outside China's Mainland are not included in the calculation.

13 On a cumulative basis, the total number of users registered on the Company's platforms outside China's Mainland market, as of December 31, 2025. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, as of December 31, 2025, covering both pre- and post-acquisition periods.

14 On a cumulative basis, the total number of borrowers on the Company's platforms outside China's Mainland market, as of December 31, 2025. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, as of December 31, 2025, covering both pre- and post-acquisition periods.

15 Represents the total number of borrowers outside China's Mainland who successfully borrowed on the Company platforms during the period presented. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, for the period after its acquisition.

16 Represents the total number of new borrowers outside China's Mainland whose transactions were facilitated on the Company's platforms during the period presented. These operating data include those of Fundo Loans Pty Ltd, an Australian company acquired in October 2025, for the period after its acquisition.

17 Please refer to "UNAUDITED Reconciliation of GAAP and Non-GAAP Results" for reconciliation between GAAP and Non-GAAP adjusted operating income.

Mr. Tiezheng Li, Vice Chairman and Chief Executive Officer of FinVolution, commented, "In 2025, we proudly celebrated FinVolution's 18th anniversary, marking a milestone in our evolution from a passionate Chinese fintech pioneer to a regional platform expanding responsible credit access across Asia and beyond. Despite a challenging macro and regulatory environment in China, we delivered resilient full-year results, with Group revenue of RMB13.6 billion, up 3.8% year over year, and net profit rising 6.6% to RMB2.5 billion. Our effective 'Local Excellence, Global Outlook' strategy drove international revenue to a record 31.4% contribution in the fourth quarter, highlighted by full-year profitability in Indonesia and the Philippines.

"We also made a strategic entry into our first developed market, Australia, employing the regulatory maturity and consumer-first mindset we have developed in China alongside our successful experience scaling in Southeast Asia. Going forward, our resilient risk management, ongoing AI innovation investments, and responsible growth will ensure prudent management of our China business while continue to accelerate sustainable international expansion. As we build on our international momentum, we remain committed to delivering growth and enduring value for our users, partners, and shareholders through disciplined execution," concluded Mr. Li.

Mr. Jiayuan Xu, Chief Financial Officer of FinVolution, continued, "In the fourth quarter, we navigated a complex environment, prioritizing portfolio quality in China while sustaining strong growth internationally. Group net revenue was RMB3.0 billion and net income was RMB415.5 million, reflecting the near-term impact of tighter underwriting in China, offset by a 28.6% year-over-year increase in international revenues. We also recorded robust international transaction volume growth of 41.4% year over year to RMB4.1 billion and unique borrowers up 133.8% to 3.8 million, underscoring the resilience of our diversified model and our ability to adapt quickly in a dynamic landscape.

"Meanwhile, we continued to deliver meaningful shareholder returns, executing US$107.2 million in full-year buybacks, including a record US$40.7 million in the fourth quarter, and increasing our dividend per ADS by 10.5% to US$0.306, totaling approximately US$74.5 million for 2025. Our Chairman and senior management team recently invested an additional US$1.9 million of their own capital, reflecting strong internal confidence in our valuation and long-term prospects. We will continue to advance our strategy with a clear emphasis on execution quality and portfolio resilience, balancing growth and risk management to drive sustainable returns and value creation," concluded Mr. Xu.

Fourth Quarter 2025 Financial Results

Net revenue for the fourth quarter of 2025 was RMB3,023.9 million (US$432.4 million), compared with RMB3,456.7 million for the same period of 2024. This decrease was primarily due to decreases in loan facilitation service fees, post-facilitation service fees and guarantee income, partially offset by increases in net interest income and other revenue.

Loan facilitation service fees were RMB848.9 million (US$121.4 million) for the fourth quarter of 2025, compared with RMB1,344.8 million for the same period of 2024. The decrease was primarily due to decreases in the transaction volume and average rate of transaction service fees in the China market, partially offset by the increase in transaction volume in international markets.

Post-facilitation service fees were RMB392.8 million (US$56.2 million) for the fourth quarter of 2025, compared with RMB460.5 million for the same period of 2024. This decrease was primarily due to the rolling impact of deferred transaction fees. 

Guarantee income was RMB948.5 million (US$135.6 million) for the fourth quarter of 2025, compared with RMB1,205.5 million for the same period of 2024. This decrease was primarily due to the decrease in risk-bearing loans in the China market, as well as the rolling impact of deferred guarantee income. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment. 

Net interest income was RMB471.9 million (US$67.5 million) for the fourth quarter of 2025, compared with RMB217.9 million for the same period of 2024. This increase mainly resulted from the increase in the average outstanding loan balances of on-balance sheet loans in both China and the international markets, partially offset by the decrease in interest yield in the China market.

Other revenue was RMB361.8 million (US$51.7 million) for the fourth quarter of 2025, compared with RMB228.0 million for the same period of 2024. This increase was primarily due to the increase in the contributions from other revenue streams including other value-added services.

Origination, servicing expenses and other costs of revenue were RMB847.3 million (US$121.2 million) for the fourth quarter of 2025, compared with RMB664.0 million for the same period of 2024. This increase was primarily driven by the increase in employee expenditures and higher loan collection expenses in both China and the international markets.

Sales and marketing expenses were RMB512.4 million (US$73.3 million) for the fourth quarter of 2025, compared with RMB531.5 million for the same period of 2024. This decrease was primarily due to improved efficiency and decreased investment in marketing activities in China.

Research and development expenses were RMB142.6 million (US$20.4 million) for the fourth quarter of 2025, compared with RMB126.3 million for the same period of 2024. This increase was primarily due to increased investments in technology development.        

General and administrative expenses were RMB124.5 million (US$17.8 million) for the fourth quarter of 2025, compared with RMB112.6 million for the same period of 2024, primarily due to higher professional service fees in the international market.

Provision for accounts receivable and contract assets was RMB106.4 million (US$15.2 million) for the fourth quarter of 2025, compared with RMB95.1 million for the same period of 2024. The increase was primarily due to increased transaction volume of off-balance sheet loans in the international market, partially offset by decrease in volume of off-balance sheet loans in the China market. 

Provision for loans receivable was RMB261.7 million (US$37.4 million) for the fourth quarter of 2025, compared with RMB64.3 million for the same period of 2024. This increase was primarily due to the increase in the outstanding loan balance of on-balance sheet loans in both China and the international markets.

Credit losses for quality assurance commitment were RMB546.4 million (US$78.1 million) for the fourth quarter of 2025, compared with RMB1,075.0 million for the same period of 2024. The decrease was primarily due to the decrease in risk-bearing loans in the China market.

Operating profit was RMB482.7 million (US$69.0 million) for the fourth quarter of 2025, compared with RMB787.9 million for the same period of 2024.

Non-GAAP adjusted operating income, which excludes share-based compensation expenses before tax, was RMB519.8 million (US$74.3 million) for the fourth quarter of 2025, compared with RMB822.0 million for the same period of 2024.

Other income was RMB20.8 million (US$3.0 million) for the fourth quarter of 2025, compared with RMB25.9 million for the same period of 2024. The decrease was mainly due to lower gains from a reduction in investment products.

Income tax expense was RMB87.9 million (US$12.6 million) for the fourth quarter of 2025, compared with RMB133.1 million for the same period of 2024. This decrease was mainly due to the decrease in pre-tax profit.

Net profit was RMB415.5 million (US$59.4 million) for the fourth quarter of 2025, compared with RMB680.8 million for the same period of 2024.

Net profit attributable to ordinary shareholders of the Company was RMB424.7 million (US$60.7 million) for the fourth quarter of 2025, compared with RMB680.7 million for the same period of 2024.

Diluted net profit per ADS was RMB1.63 (US$0.23) and diluted net profit per share was RMB0.33 (US$0.05) for the fourth quarter of 2025, compared with RMB2.61 and RMB0.52 for the same period of 2024, respectively.

Non-GAAP diluted net profit per ADS was RMB1.77 (US$0.25) and non-GAAP diluted net profit per share was RMB0.35 (US$0.05) for the fourth quarter of 2025, compared with RMB2.74 and RMB0.55 for the same period of 2024, respectively. Each ADS represents five Class A ordinary shares of the Company.

As of December 31, 2025, the Company had cash and cash equivalents of RMB 4,285.1 million (US$612.8 million) and short-term investments, mainly in wealth management products and term deposits, of RMB3,015.2 million (US$431.2 million).

The following chart shows the historical cumulative 30-day plus past due delinquency rates by loan origination vintage for loan products facilitated through the Company's platform in China's Mainland as of December 31, 2025. Loans facilitated under the capital-light model, for which the Company does not bear principal risk, are excluded from the chart.

Click here to view the chart.

Fiscal Year 2025 Financial Results

Net revenue for 2025 was RMB13,569.5 million (US$ 1,940.4 million), compared with RMB13,065.8 million in 2024. This increase was primarily due to increases in loan facilitation service fees, net interest income and other revenue, partially offset by decreases in guarantee income and post-facilitation service fees.

Loan facilitation service fees were RMB5,176.5 million (US$740.2 million) for 2025, compared with RMB4,694.4 million in 2024. The increase was primarily due to increases in transaction volume and average rate of transaction service fees in the international markets, partially offset by the decreases in transaction volume and average rate of transaction service fees in the China market.

Post-facilitation service fees were RMB1,629.8 million (US$233.1 million) for 2025, compared with RMB1,740.2 million in 2024. This decrease was primarily due to the rolling impact of deferred transaction fees. 

Guarantee income was RMB4,124.9 million (US$589.9 million) for 2025, compared with RMB5,085.3 million in 2024. This decrease was primarily due to the decrease in risk-bearing loans in the China market, partially offset by an increase in such loans in international markets, as well as the rolling impact of deferred guarantee income. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment. 

Net interest income was RMB1,336.5 million (US$191.1 million) for 2025, compared with RMB853.8 million in 2024. This increase mainly resulted from the increase in the average outstanding loan balances of on-balance sheet loans in both China and the international markets.

Other revenue was RMB1,301.9 million (US$186.2 million) for 2025, compared with RMB692.1 million in 2024. This increase was primarily due to the increase in the contributions from other revenue streams including other value-added services.

Origination, servicing expenses and other costs of revenue were RMB2,900.1 million (US$414.7 million) for 2025, compared with RMB2,381.8 million in 2024. This increase was primarily driven by higher facilitation costs in both China and international markets.

Sales and marketing expenses were RMB2,200.5 million (US$314.7 million) for 2025, compared with RMB2,014.3 million in 2024 as a result of our more proactive customer acquisition efforts focusing on quality borrowers in both China and the international markets.

Research and development expenses were RMB536.6 million (US$76.7 million) for 2025, compared with RMB496.7 million in 2024. This increase was primarily due to increased investments in technology development.

General and administrative expenses were RMB442.1 million (US$63.2 million) for 2025, compared with RMB413.5 million in 2024, primarily due to increases in rents and renovation expenses, professional service fees and miscellaneous administrative expenses.

Provision for accounts receivable and contract assets was RMB426.0 million (US$60.9 million) for 2025, compared with RMB317.0 million in 2024. The increase was primarily due to increased transaction volume of off-balance sheet loans in the international market. 

Provision for loans receivable was RMB637.7 million (US$91.2 million) for 2025, compared with RMB320.0 million in 2024. This increase was primarily due to the increase in the outstanding loan balance of on-balance sheet loans in both China and the international markets.

Credit losses for quality assurance commitment were RMB3,462.4 million (US$495.1 million) for 2025, compared with RMB4,587.3 million in 2024. The decrease was primarily due to the decrease in risk-bearing loans in the China market, partially offset by the increase in risk-bearing loans in the international markets.

Impairment of goodwill and intangible assets was RMB50.7 million (US$7.2 million) for 2025, compared with nil for the same period of 2024. The increase was primarily due to an impairment of goodwill related to a certain micro-lending company acquired by the Group in 2017, following a performance review during the year.

Operating profit was RMB2,913.3 million (US$416.6 million) for 2025, compared with RMB2,535.1 million in 2024.

Non-GAAP adjusted operating income, which excludes share-based compensation expenses before tax, was RMB3,062.3 million (US$437.9 million) for 2025, compared with RMB2,679.2 million in 2024.

Other income was RMB188.1 million (US$26.9 million) for 2025, compared with RMB310.1 million in 2024. The decrease was mainly due to lower gains from a reduction in investment products, reduced income from investments, and the reduction in government subsidies.

Income tax expense was RMB556.2 million (US$79.5 million) for 2025, compared with RMB457.4 million in 2024. This increase was mainly due to the increase in pre-tax profit and the increase in effective tax rate.

Net profit was RMB2,545.2 million (US$364.0 million) for 2025, compared with RMB2,387.8 million in 2024.

Net profit attributable to ordinary shareholders of the Company was RMB2,542.4 million (US$363.6 million) for 2025, compared with RMB2,383.1 million in 2024.

Shares Repurchase Update and Management Purchase

For the full year of 2025, the Company deployed approximately US$107.2 million to repurchase its own Class A ordinary shares in the form of ADSs. These repurchases included US$60.7 million worth of ADSs that were repurchased concurrently with the offering of convertible senior notes in June. As of December 31, 2025, in combination with the Company's historical and existing share repurchase programs, the Company had cumulatively repurchased its own Class A ordinary shares in the form of ADSs with a total aggregate value of approximately US$477.3 million since 2018.

In December 2025, Chairman of the Board Mr. Shaofeng Gu and other senior management of the Company, purchased in their personal capacity approximately 0.37 million of the Company's ADS, with a total aggregate value of approximately US$1.9 million, independently of the Company's share repurchase programs. The share purchases by senior management reflect strong conviction in the Company's resilient business model, solid fundamentals, and accelerating international expansion. We believe these strengths, supported by the current valuation, position the Company well to execute its "Local Excellence, Global Outlook" strategy and deliver sustainable value to all stakeholders.

Business Outlook

Through prudent navigation of a complex environment, the Company delivered solid results in 2025. As a result of the near-term uncertainties introduced by recent regulatory changes in China, the Company expects its full-year 2026 total revenue guidance to be in the range of approximately RMB11.5 billion to RMB12.9 billion, representing a year-over-year decline of approximately 5% to 15%.

The above forecast is based on the current market conditions and reflects the Company's current preliminary views and expectations on market and operational conditions and the regulatory and operating environment, as well as customers' and institutional partners' demands, all of which are subject to change.

Conference Call

The Company's management will host an earnings conference call at 8:30 PM U.S. Eastern Time on March 16, 2026 (8:30 AM Beijing/Hong Kong Time on March 17, 2026).

Dial-in details for the earnings conference call are as follows:

United States (toll free):

+1-888-346-8982

Canada (toll free):

+1-855-669-9657

International:

+1-412-902-4272

Hong Kong, China (toll free):

800-905-945

Mainland, China:

400-120-1203

Participants should dial in at least five minutes before the scheduled start time and ask to be connected to the call for "FinVolution Group".

Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.finvgroup.com.

A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until March 23, 2026, by dialing the following telephone numbers:

United States / Canada (toll free):                

+1-855-669-9658

International:

+1-412-317-0088

Replay Access Code:

9046716

About FinVolution Group

FinVolution Group is a leading fintech platform with strong brand recognition across China and international markets, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company's platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2025, the Company had 239.6 million cumulative registered users across China and international markets.

For more information, please visit https://ir.finvgroup.com

Use of Non-GAAP Financial Measures

We use non-GAAP adjusted operating income, non-GAAP operating margin, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS which are non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes. We believe that these non-GAAP financial measures help identify underlying trends in our business by excluding the impact of share-based compensation expenses and expected discretionary measures. We believe that non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

Non-GAAP adjusted operating income, non-GAAP operating margin, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tool, and when assessing our operating performance, cash flows or our liquidity, investors should not consider it in isolation, or as a substitute for net income, cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review our financial information in its entirety and not rely on a single financial measure.

For more information on this non-GAAP financial measure, please see the table captioned "Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.9931 to US$1.00, the rate in effect as of December 31, 2025 as certified for customs purposes by the Federal Reserve Bank of New York.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company's marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Capital Markets
Yam Cheng
Tel: +86 (21) 8030-3200 Ext. 8601
E-mail: [email protected] 

Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: [email protected]   

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share data, or otherwise noted)

As of December 31,

As of December 31,

2024

2025

RMB

RMB

USD

Assets

Cash and cash equivalents

4,672,772

4,285,121

612,764

Restricted cash

2,074,300

1,912,850

273,534

Short-term investments

2,832,382

3,015,226

431,172

Investments

1,173,003

1,141,816

163,278

Quality assurance receivable, net of credit loss allowance for
quality assurance receivable of RMB426,949 and RMB
581,475 as of December 31, 2024 and December 31, 2025,
respectively

1,639,591

1,315,184

188,069

Intangible assets

137,298

270,246

38,645

Property, equipment and software, net

623,792

641,316

91,707

Loans receivable, net of credit loss allowance for loans
receivable of RMB226,467 and RMB 544,905 as of
December 31, 2024 and December 31, 2025,
respectively

4,157,621

6,471,619

925,429

Accounts receivable and contract assets, net of credit loss
allowance for accounts receivable and contract assets of
RMB290,267 and RMB 340,816 as of December 31, 2024
and December 31, 2025, respectively

2,405,880

2,028,585

290,084

Deferred tax assets

2,513,865

2,992,071

427,860

Right of use assets

36,826

52,020

7,439

Prepaid expenses and other assets

1,289,380

1,207,791

172,712

Goodwill

50,411

79,759

11,405

Total assets

23,607,121

25,413,604

3,634,098

Liabilities and Shareholders' Equity

Deferred guarantee income

1,515,950

1,119,004

160,015

Liability from quality assurance commitment

2,964,116

2,574,842

368,198

Payroll and welfare payable

290,389

361,188

51,649

Taxes payable

705,928

177,064

25,320

Short-term borrowings

5,594

170,408

24,368

Funds payable to investors of consolidated trusts

796,122

778,531

111,328

Contract liability

10,185

226

32

Deferred tax liabilities

491,213

786,556

112,476

Accrued expenses and other liabilities

1,245,184

1,448,231

207,094

Leasing liabilities

28,765

44,711

6,394

Convertible senior notes

-

1,019,266

145,753

Long-term borrowings

-

89,590

12,811

Total liabilities

8,053,446

8,569,617

1,225,438

Commitments and contingencies

FinVolution Group Shareholders' equity

Ordinary shares

103

103

15

Additional paid-in capital

5,815,437

5,908,586

844,917

Treasury stock

(1,765,542)

(2,465,259)

(352,527)

Statutory reserves

852,723

1,042,312

149,049

Accumulated other comprehensive income

92,626

13,027

1,863

Retained Earnings

10,208,717

12,051,332

1,723,318

Total FinVolution Group shareholders' equity

15,204,064

16,550,101

2,366,635

Non-controlling interest

349,611

293,886

42,025

Total shareholders' equity

15,553,675

16,843,987

2,408,660

Total liabilities and shareholders' equity

23,607,121

25,413,604

3,634,098

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended December 31,

For the Year Ended December 31,

2024

2025

2024

2025

RMB

RMB

USD

RMB

RMB

USD

Operating revenue:

Loan facilitation service fees

1,344,799

848,943

121,397

4,694,380

5,176,457

740,224

Post-facilitation service fees

460,465

392,756

56,163

1,740,241

1,629,777

233,055

Guarantee income

1,205,502

948,461

135,628

5,085,296

4,124,934

589,858

        Net interest income

217,927

471,922

67,484

853,779

1,336,459

191,111

Other Revenue

227,999

361,802

51,737

692,128

1,301,856

186,163

Net revenue

3,456,692

3,023,884

432,409

13,065,824

13,569,483

1,940,411

Operating expenses:

       Origination, servicing expenses and other cost of
revenue

(663,982)

(847,318)

(121,165)

(2,381,839)

(2,900,149)

(414,716)

Sales and marketing expenses

(531,530)

(512,448)

(73,279)

(2,014,254)

(2,200,543)

(314,673)

Research and development expenses

(126,257)

(142,573)

(20,388)

(496,740)

(536,617)

(76,735)

General and administrative expenses

(112,570)

(124,454)

(17,797)

(413,548)

(442,148)

(63,226)

Provision for accounts receivable and contract
assets

(95,132)

(106,405)

(15,216)

(317,049)

(425,966)

(60,912)

Provision for loans receivable

(64,346)

(261,657)

(37,416)

(320,013)

(637,700)

(91,190)

Credit losses for quality assurance commitment

(1,074,955)

(546,374)

(78,130)

(4,587,254)

(3,462,384)

(495,114)

Impairment of goodwill and intangible assets

-

-

-

-

(50,676)

(7,247)

Total operating expenses

(2,668,772)

(2,541,229)

(363,391)

(10,530,697)

(10,656,183)

(1,523,813)

Operating profit

787,920

482,655

69,018

2,535,127

2,913,300

416,598

Other income, net

25,945

20,776

2,971

310,123

188,145

26,904

Profit before income tax expense

813,865

503,431

71,989

2,845,250

3,101,445

443,502

Income tax expenses

(133,110)

(87,904)

(12,570)

(457,405)

(556,243)

(79,542)

Net profit

680,755

415,527

59,419

2,387,845

2,545,202

363,960

          Less: Net profit/(loss) attributable to non-
controlling interest shareholders

50

(9,186)

(1,314)

4,699

2,797

400

Net profit attributable to FinVolution Group

680,705

424,713

60,733

2,383,146

2,542,405

363,560

          Foreign currency translation adjustment, net of
nil tax

28,205

(18,371)

(2,627)

12,620

(79,599)

(11,383)

Total comprehensive income attributable

to FinVolution Group

708,910

406,342

58,106

2,395,766

2,462,806

352,177

Weighted average number of ordinary shares used
      in computing net income per share

Basic

1,266,235,809

1,240,449,252

1,240,449,252

1,287,853,207

1,259,849,521

1,259,849,521

Diluted

1,303,393,465

1,328,365,218

1,328,365,218

1,320,229,492

1,334,237,985

1,334,237,985

Net profit per share attributable to FinVolution
      Group's ordinary shareholders

Basic

0.54

0.34

0.05

1.85

2.02

0.29

Diluted

0.52

0.33

0.05

1.81

1.92

0.27

Net profit per ADS attributable to FinVolution
      Group's ordinary shareholders (one ADS
      equal five ordinary shares)

Basic

2.69

1.71

0.24

9.25

10.09

1.44

Diluted

2.61

1.63

0.23

9.03

9.59

1.37

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 (All amounts in thousands, except share data, or otherwise noted)

Three Months Ended December 31,

Year Ended December 31,

2024

2025

2024

2025

RMB

RMB

USD

RMB

RMB

USD

Net cash provided by operating
activities

419,707

464,913

66,482

2,893,160

1,867,600

267,064

Net cash used in investing
activities

(737,991)

(330,241)

(47,222)

(2,295,816)

(2,183,697)

(312,263)

Net cash provided by/(used in)
financing activities

127,539

(530,864)

(75,912)

(622,715)

(194,696)

(27,841)

Effect of exchange rate changes
on cash and cash equivalents

5,407

(13,185)

(1,888)

3,053

(38,308)

(5,480)

Net decrease in cash, cash
equivalent and restricted cash

(185,338)

(409,377)

(58,540)

(22,318)

(549,101)

(78,520)

Cash, cash equivalent and
restricted cash at beginning of
period

6,932,410

6,607,348

944,838

6,769,390

6,747,072

964,818

Cash, cash equivalent and
restricted cash at end of period

6,747,072

6,197,971

886,298

6,747,072

6,197,971

886,298

FinVolution Group

UNAUDITED Reconciliation of GAAP and Non-GAAP Results

 (All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended December 31,

For the Year Ended December 31,

2024

2025

2024

2025

RMB

RMB

USD

RMB

RMB

USD

Net Revenues

3,456,692

3,023,884

432,409

13,065,824

13,569,483

1,940,411

Less: total operating expenses

(2,668,772)

(2,541,229)

(363,391)

(10,530,697)

(10,656,183)

(1,523,813)

Operating Income

787,920

482,655

69,018

2,535,127

2,913,300

416,598

Add: share-based compensation expenses

34,064

37,183

5,317

144,052

149,045

21,313

Non-GAAP adjusted operating income

821,984

519,838

74,335

2,679,179

3,062,345

437,911

Operating Margin

22.8 %

16.0 %

16.0 %

19.4 %

21.5 %

21.5 %

Non-GAAP operating margin

23.8 %

17.2 %

17.2 %

20.5 %

22.6 %

22.6 %

Non-GAAP adjusted operating income

821,984

519,838

74,335

2,679,179

3,062,345

437,911

Add: other income, net

25,945

20,776

2,971

310,123

188,145

26,904

Less: income tax expenses

(133,110)

(87,904)

(12,570)

(457,405)

(556,243)

(79,542)

Non-GAAP net profit

714,819

452,710

64,736

2,531,897

2,694,247

385,273

Net profit/(loss) attributable to non-controlling interest

shareholders

50

(9,186)

(1,314)

4,699

2,797

400

Non-GAAP net profit attributable to FinVolution Group

714,769

461,896

66,050

2,527,198

2,691,450

384,873

Weighted average number of ordinary
shares used in computing net income
per share

Basic

1,266,235,809

1,240,449,252

1,240,449,252

1,287,853,207

1,259,849,521

1,259,849,521

Diluted

1,303,393,465

1,328,365,218

1,328,365,218

1,320,229,492

1,334,237,985

1,334,237,985

Non-GAAP net profit per share
attributable to FinVolution Group's
ordinary shareholders

Basic

0.56

0.37

0.05

1.96

2.14

0.31

Diluted

0.55

0.35

0.05

1.91

2.03

0.29

Non-GAAP net profit per ADS
attributable to    FinVolution Group's
ordinary shareholders (one ADS equal
five ordinary shares)

Basic

2.82

1.86

0.27

9.81

10.68

1.53

Diluted

2.74

1.77

0.25

9.57

10.15

1.44

SOURCE FinVolution Group

FinVolution Group (FINV) Q4 2025 Earnings Call Transcript

Shares of PPDAI Group Inc. Sponsored ADR (NYSE: FINV - Get Free Report) hit a new 52-week low on Thursday. The stock traded as low as $4.59 and last traded at $4.6210, with a volume of 141343 shares. The stock had previously closed at $4.74. Wall Street Analyst Weigh In Separately, Weiss Ratings reiterated a

, /PRNewswire/ -- FinVolution Group ("FinVolution," or the "Company") (NYSE: FINV), a leading fintech platform across China and international markets, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission (the "SEC") on April 29, 2026.

The annual report on Form 20-F can be accessed on the SEC's website at http://www.sec.gov and on the Company's investor relations website at http://ir.finvgroup.com. The Company will also provide a hard copy of the annual report containing its audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request.

About FinVolution Group

FinVolution Group is a leading fintech platform with strong brand recognition across China and international markets, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company's platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2025, the Company had 239.6 million cumulative registered users across China and international markets.

For more information, please visit: http://ir.finvgroup.com.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Capital Markets
Yam Cheng
Tel: +86 (21) 8030-3200 Ext. 8601
E-mail: [email protected] 

Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: [email protected] 

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

SOURCE FinVolution Group

-Earnings Call Scheduled for 8:30 p.m. ET on May 25, 2026-

, /PRNewswire/ -- FinVolution Group ("FinVolution", or the "Company") (NYSE: FINV), a leading fintech platform across China and international markets, today announced that it will report its first quarter 2026 unaudited financial results, on Monday, May 25, 2026.

The Company's management will host an earnings conference call at 8:30 PM U.S. Eastern Time on May 25, 2026 (8:30 AM Beijing/Hong Kong Time on May 26, 2026).

Participants should complete online registration using the link provided below at least 15 minutes before the scheduled start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.

Participant Online Registration:
https://register-conf.media-server.com/register/BIf9feb90f9176441083910b143e67c48d

Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.finvgroup.com.

About FinVolution Group

FinVolution Group is a leading fintech platform with strong brand recognition across China and international markets, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company's platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2025, the Company had 239.6 million cumulative registered users across China and international markets.

For more information, please visit https://ir.finvgroup.com.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Capital Markets
Yam Cheng
Tel: +86 (21) 8030-3200 Ext. 8601
E-mail: [email protected]

Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: [email protected]  

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

SOURCE FinVolution Group

, /PRNewswire/ -- FinVolution Group ("FinVolution" or the "Company") (NYSE: FINV), a leading fintech platform across China and overseas markets, today announced its unaudited financial results for the first quarter ended March 31, 2026.

For the Three Months Ended/As of

YoY

Change

March 31, 2025

March 31, 2026

Total Transaction Volume (RMB in billions)1

52.1

42.6

-18.2 %

- Chinese Mainland2

49.1

38.5

-21.6 %

- Overseas Markets3

3.0

4.1

36.7 %

Total Outstanding Loan Balance (RMB in billions)

74.1

67.7

-8.6 %

- Chinese Mainland4

72.2

65.1

-9.8 %

- Overseas Markets5

1.9

2.6

36.8 %

First Quarter 2026 Highlights

Chinese Mainland Market

Cumulative registered users reached 190.0 million as of March 31, 2026, an increase of 7.2% compared with March 31, 2025. Cumulative borrowers reached 29.6 million as of March 31, 2026, an increase of 8.4% compared with March 31, 2025. Number of unique borrowers6 for the first quarter of 2026 was 1.7 million, a decrease of 22.7% compared with the same period of 2025. Transaction volume2 was RMB38.5 billion for the first quarter of 2026, a decrease of 21.6% compared with the same period of 2025. Transaction volume facilitated for repeat individual borrowers7 for the first quarter of 2026 was RMB31.4 billion, a decrease of 26.3% compared with the same period of 2025. Outstanding loan balance4 was RMB65.1 billion as of March 31, 2026, a decrease of 9.8% compared with March 31, 2025. Average loan size was RMB12,098 for the first quarter of 2026, compared with RMB10,494 for the same period of 2025. Average loan tenure was 8.5 months for the first quarter of 2026, compared with 8.2 months for the same period of 2025. 90 day+ delinquency ratio8 was 3.11% as of March 31, 2026. Net revenue9 was RMB2,216.1 million (US$321.3 million) for the first quarter of 2026, compared with RMB2,770.2 million for the same period of 2025. U.S. GAAP operating profit10 was RMB598.7 million (US$86.8 million) for the first quarter of 2026, compared with RMB913.1 million for the same period of 2025. Non-GAAP adjusted EBITDA11, which excludes depreciation and amortization and share-based compensation expenses from operating profit, was RMB614.9 million (US$89.1 million) for the first quarter of 2026, compared with RMB930.1 million for the same period of 2025. Overseas Markets

Cumulative registered users reached 56.5 million as of March 31, 2026, an increase of 45.2% compared with March 31, 2025. Cumulative borrowers reached 13.4 million as of March 31, 2026, an increase of 76.3% compared with March 31, 2025. Number of unique borrowers12 for the first quarter of 2026 was 4.5 million, an increase of 155.4% compared with the same period of 2025. Number of new borrowers13 for the first quarter of 2026 was 1.7 million, an increase of 160.0% compared with the same period of 2025. Transaction volume3 reached RMB4.1 billion for the first quarter of 2026, an increase of 36.7% compared with the same period of 2025. Outstanding loan balance5 reached RMB2.6 billion as of March 31, 2026, an increase of 36.8% compared with March 31, 2025. Net revenue14 was RMB948.9 million (US$137.6 million) for the first quarter of 2026, an increase of 34.5% compared with the same period of 2025, representing 29.6% of total revenue for the first quarter of 2026. U.S. GAAP operating profit10 was RMB45.8 million (US$6.6 million) for the first quarter of 2026, compared with RMB24.4 million for the same period of 2025. Non-GAAP adjusted EBITDA11, which excludes depreciation and amortization and share-based compensation expenses from operating profit, was RMB47.5 million (US$6.9 million) for the first quarter of 2026, compared with RMB25.5 million for the same period of 2025. Group Financial Highlights

Net revenue was RMB3,210.1 million (US$465.4 million) for the first quarter of 2026, compared with RMB3,481.0 million for the same period of 2025. Net profit was RMB421.1 million (US$61.0 million) for the first quarter of 2026, compared with RMB737.6 million for the same period of 2025. U.S. GAAP operating profit was RMB546.8 million (US$79.3 million) for the first quarter of 2026, compared with RMB883.2 million for the same period of 2025. Non-GAAP adjusted operating profit15, which excludes share-based compensation expenses before tax, was RMB585.0 million (US$84.8 million) for the first quarter of 2026, compared with RMB917.9 million for the same period of 2025. Diluted net profit per American depositary share ("ADS") was RMB1.65 (US$0.24) and diluted net profit per share was RMB0.33 (US$0.05) for the first quarter of 2026, compared with RMB2.84 and RMB0.57 for the same period of 2025, respectively. Non-GAAP diluted net profit per ADS was RMB1.80 (US$0.26) and non-GAAP diluted net profit per share was RMB0.36 (US$0.05) for the first quarter of 2026, compared with RMB2.97 and RMB0.59 for the same period of 2025, respectively. Each ADS of the Company represents five Class A ordinary shares of the Company. ________________________________________________________________

1 Represents the total transaction volume facilitated in the Chinese Mainland and overseas markets on the Company's platform during the period presented.

2 Represents our transaction volume facilitated in the Chinese Mainland during the period presented. During the first quarter, RMB15.5 billion was facilitated under the capital-light model, for which the Company does not bear principal risk.

3 Represents our transaction volume facilitated in Indonesia, the Philippines and Australia during the period presented.

4 Outstanding loan balance as of any date refers to the balance of outstanding loans in the Chinese Mainland market excluding loans delinquent for more than 180 days from such date. As of March 31, 2026, RMB35.0 billion was facilitated under the capital-light model, for which the Company does not bear principal risk.

5 Outstanding loan balance as of any date refers to the balance of outstanding loans in Indonesia, the Philippines and Australia excluding loans delinquent for more than 30 days from such date. 

6 Represents the total number of borrowers in the Chinese Mainland who successfully borrowed on the Company's platform during the period presented.

7 Represents the transaction volume facilitated for borrowers who had historically completed a transaction on the Company's platform in the Chinese Mainland during the period presented.

8 "90 day+ delinquency ratio" refers to the outstanding principal balance of loans, excluding loans facilitated under the capital-light model, that were 90 to 179 calendar days past due as a percentage of the total outstanding principal balance of loans, excluding loans facilitated under the capital-light model on the Company's platform as of a specific date. Loans that originated outside the Chinese Mainland are not included in the calculation.

9 Represents revenue from the Chinese Mainland. Prior period segment results from the Chinese Mainland have been recast to conform to the current period presentation. Please refer to the "Selected Segment Information" tables at the end of this release for a breakdown by segment for the periods presented.

10 Please refer to the "Selected Segment Information" tables at the end of this release for reconciliation between Operating Segment Profit/(Loss) and GAAP operating profit.

11 Please refer to the "Selected Segment Information" tables at the end of this release for reconciliation between GAAP operating profit and Non-GAAP adjusted EBITDA.

12 Represents the total number of borrowers in Indonesia, the Philippines and Australia who successfully borrowed on the Company's platforms during the period presented.

13 Represents the total number of new borrowers in Indonesia, the Philippines and Australia whose transactions were facilitated on the Company's platforms during the period presented.

14 Represents revenue from overseas markets outside the Chinese Mainland, namely Indonesia, the Philippines, and Australia. Prior period segment results from overseas markets have been recast to conform to the current period presentation. Please refer to "Selected Segment Information" for a breakdown by segment for the periods presented.

15 Please refer to "UNAUDITED Reconciliation of GAAP and Non-GAAP Results" for reconciliation between GAAP and Non-GAAP adjusted operating profit.

Mr. Tiezheng Li, Vice Chairman and Chief Executive Officer of FinVolution, commented, "In the first quarter, we delivered continued growth in our overseas business and a resilient performance in the Chinese Mainland segment against an evolving regulatory backdrop, demonstrating the strength of our two-engine model. Beginning this quarter, we are reporting our overseas business as a separate reportable segment, reflecting our strategic trajectory and the earnings power of our diversified business.

"In our Chinese Mainland segment, we executed with discipline, acquiring approximately 0.6 million new borrowers while prioritizing asset quality, customer quality and unit economics. The segment remained stable and profitable, reinforcing its role as the anchor of our operating cash flow.

"Our Overseas Markets segment delivered robust year-over-year revenue growth, contributing 29.6% of our total first quarter revenue. Our 'Local Excellence, Global Outlook+' strategy of transferring proven risk management and operational capabilities across regions drove strong year-over-year loan volume growth and more than doubled our unique overseas borrowers, underscoring our accelerating global traction.

"Looking ahead, we will continue to manage our China business prudently while expanding our overseas platform with deeper integration into the local ecosystems. Supported by strong technology advantages and a healthy balance sheet, we are well-positioned to continue creating durable value for customers and delivering sustainable financial returns for our stakeholders," concluded Mr. Li.

Mr. Jiayuan Xu, Chief Financial Officer of FinVolution, continued, "Total net revenues for the first quarter were RMB3.2 billion, up 6.2% sequentially. Early signs of credit recovery in our Chinese Mainland business supported a recovery in loan origination volume to RMB38.5 billion, driving a 6.9% sequential increase in Chinese Mainland net revenue to RMB2.2 billion. In our overseas markets, revenue grew 34.5% year over year to RMB948.9 million, and operating profit reached RMB45.8 million, up 87.7% year over year, highlighting our overseas platform's scalability and growing operating leverage.

"Meanwhile, we continued to return capital to our shareholders, executing share repurchases totaling US$39.4 million in the first quarter alongside our 8th annual dividend of US$0.306 per ADS in May, a 10.5% increase year over year. We reiterate our full-year 2026 revenue guidance of approximately RMB11.5 billion to RMB12.9 billion, which reflects the expected near-term impact of China's regulatory environment. We remain confident in the resilience of our model and committed to long-term value creation," concluded Mr. Xu.

First Quarter 2026 Financial Results

Net revenue for the first quarter of 2026 was RMB3,210.1 million (US$465.4 million), compared with RMB3,481.0 million for the same period of 2025. This decrease was primarily due to decreases in loan facilitation service fees, post-facilitation service fees and guarantee income, partially offset by increases in net interest income and other revenue.

Loan facilitation service fees were RMB1,181.3 million (US$171.3 million) for the first quarter of 2026, compared with RMB1,477.8 million for the same period of 2025. The decrease was primarily due to decreases in the transaction volume and average rate of transaction service fees in the Chinese Mainland market, partially offset by the increase in transaction volume in overseas markets.

Post-facilitation service fees were RMB348.3 million (US$50.5 million) for the first quarter of 2026, compared with RMB380.6 million for the same period of 2025. This decrease was primarily due to the rolling impact of deferred transaction fees. 

Guarantee income was RMB886.1 million (US$128.5 million) for the first quarter of 2026, compared with RMB1,099.5 million for the same period of 2025. This decrease was primarily due to the decrease in risk-bearing loans in the Chinese Mainland market, as well as the rolling impact of deferred guarantee income. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment. 

Net interest income was RMB484.7 million (US$70.3 million) for the first quarter of 2026, compared with RMB241.6 million for the same period of 2025. This increase mainly resulted from the increase in the average outstanding loan balances of on-balance sheet loans in both the Chinese Mainland and overseas markets, partially offset by the decrease in interest yield in the Chinese Mainland market.

Other revenue was RMB309.7 million (US$44.9 million) for the first quarter of 2026, compared with RMB281.5 million for the same period of 2025. This increase was primarily due to the increase in the contributions from other revenue streams, including other value-added services.

Origination, servicing expenses and other costs of revenue were RMB745.2 million (US$108.0 million) for the first quarter of 2026, compared with RMB620.5 million for the same period of 2025. This increase was primarily driven by the increase in employee expenditures and higher loan collection expenses in both the Chinese Mainland and overseas markets.

Sales and marketing expenses were RMB492.4 million (US$71.4 million) for the first quarter of 2026, compared with RMB529.7 million for the same period of 2025. This decrease was primarily due to improved efficiency and decreased investment in marketing activities in the Chinese Mainland market.

Research and development expenses were RMB125.5 million (US$18.2 million) for the first quarter of 2026, compared with RMB126.0 million for the same period of 2025. This decrease was primarily due to efficiency improvements in technology development.

General and administrative expenses were RMB113.8 million (US$16.5 million) for the first quarter of 2026, compared with RMB106.9 million for the same period of 2025, primarily due to an increase in office expenses.

Provision for accounts receivable and contract assets was RMB111.5 million (US$16.2 million) for the first quarter of 2026, compared with RMB117.7 million for the same period of 2025. The decrease was primarily due to decreased transaction volume of off-balance sheet loans in the Chinese Mainland market, partially offset by the increase in volume of off-balance sheet loans in overseas markets. 

Provision for loans receivable was RMB218.1 million (US$31.6 million) for the first quarter of 2026, compared with RMB85.4 million for the same period of 2025. This increase was primarily due to the increase in the outstanding loan balance of on-balance sheet loans in the Chinese Mainland and overseas markets.

Credit losses for quality assurance commitment were RMB856.6 million (US$124.2 million) for the first quarter of 2026, compared with RMB1,011.6 million for the same period of 2025. The decrease was primarily due to the decrease in risk-bearing loans in the Chinese Mainland market.

Operating profit was RMB546.8 million (US$79.3 million) for the first quarter of 2026, compared with RMB883.2 million for the same period of 2025.

Non-GAAP adjusted operating profit, which excludes share-based compensation expenses before tax, was RMB585.0 million (US$84.8 million) for the first quarter of 2026, compared with RMB917.9 million for the same period of 2025.

Other income/(expenses) was an expense of RMB15.5 million (US$2.3 million) for the first quarter of 2026, compared with income of RMB9.0 million for the same period of 2025. The decrease was mainly due to foreign exchange losses.

Income tax expense was RMB93.1 million (US$13.5 million) for the first quarter of 2026, compared with RMB153.9 million for the same period of 2025. This decrease was mainly due to the decrease in pre-tax profit.

Net profit was RMB421.1 million (US$61.0 million) for the first quarter of 2026, compared with RMB737.6 million for the same period of 2025.

Net profit attributable to ordinary shareholders of the Company was RMB415.1 million (US$60.2 million) for the first quarter of 2026, compared with RMB746.4 million for the same period of 2025.

Diluted net profit per ADS was RMB1.65 (US$0.24) and diluted net profit per share was RMB0.33 (US$0.05) for the first quarter of 2026, compared with RMB2.84 and RMB0.57 for the same period of 2025, respectively.

Non-GAAP diluted net profit per ADS was RMB1.80 (US$0.26) and non-GAAP diluted net profit per share was RMB0.36 (US$0.05) for the first quarter of 2026, compared with RMB2.97 and RMB0.59 for the same period of 2025, respectively. Each ADS represents five Class A ordinary shares of the Company.

As of March 31, 2026, the Company had cash and cash equivalents of RMB4,687.8 million (US$679.6 million) and short-term investments, mainly in wealth management products and term deposits, of RMB2,643.8 million (US$383.3 million).

The following chart shows the historical cumulative 30-day plus past due delinquency rates by loan origination vintage for loan products facilitated through the Company's platform in the Chinese Mainland as of March 31, 2026. Loans facilitated under the capital-light model, for which the Company does not bear principal risk, are excluded from the chart.

 Click here to view the chart.

Shares Repurchase Update

For the first quarter of 2026, the Company deployed approximately US$39.4 million to repurchase its own Class A ordinary shares in the form of ADSs. As of March 31, 2026, in combination with the Company's historical and existing share repurchase programs, the Company had cumulatively repurchased its own Class A ordinary shares in the form of ADSs with a total aggregate value of approximately US$516.7 million since 2018.

Business Outlook

Strong execution of the Company's 'Local Excellence, Global Outlook+' Strategy drove a resilient first quarter performance despite domestic macro headwinds and seasonal softness. The Company reiterates its full-year 2026 total revenue guidance to be in the range of approximately RMB11.5 billion to RMB12.9 billion.

The above forecast is based on the current market conditions and reflects the Company's current preliminary views and expectations on market and operational conditions and the regulatory and operating environment, as well as customers' and institutional partners' demands, all of which are subject to change.

Conference Call

The Company's management will host an earnings conference call at 8:30 PM U.S. Eastern Time on May 25, 2026 (8:30 AM Beijing/Hong Kong Time on May 26, 2026).

Participants should complete online registration using the link provided below at least 15 minutes before the scheduled start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.

Participant Online Registration:
https://register-conf.media-server.com/register/BIf9feb90f9176441083910b143e67c48d

Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.finvgroup.com.

About FinVolution Group 

FinVolution Group is a leading fintech platform with strong brand recognition across China and overseas markets, connecting borrowers of the young generation with financial institutions. Established in 2007, the Company is a pioneer in China's online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company's platforms, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of March 31, 2026, the Company had 246.5 million cumulative registered users across China and overseas markets.

For more information, please visit https://ir.finvgroup.com

Use of Non-GAAP Financial Measures

We use non-GAAP adjusted operating profit, non-GAAP operating margin, non-GAAP adjusted EBITDA, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS which are non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes. We believe that these non-GAAP financial measures help identify underlying trends in our business by excluding the impact of share-based compensation expenses and expected discretionary measures. We believe that non-GAAP financial measures provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

Non-GAAP adjusted operating profit, non-GAAP operating margin, non-GAAP adjusted EBITDA, non-GAAP net profit, non-GAAP net profit attributable to FinVolution Group, and non-GAAP basic and diluted net profit per share and per ADS are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tool, and when assessing our operating performance, cash flows or our liquidity, investors should not consider it in isolation, or as a substitute for net income, cash flows provided by operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review our financial information in its entirety and not rely on a single financial measure.

For more information on this non-GAAP financial measure, please see the table captioned "Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.8980 to US$1.00, the rate in effect as of March 31, 2026 as certified for customs purposes by the Federal Reserve Bank of New York.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company's marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Capital Markets
Yam Cheng
Tel: +86 (21) 8030-3200 Ext. 8601
E-mail: [email protected] 

Piacente Financial Communications
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: [email protected]   

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share data, or otherwise noted)

As of December 31,

As of March 31,

2025

2026

RMB

RMB

USD

Assets

Cash and cash equivalents

4,285,121

4,687,773

679,584

Restricted cash

1,912,850

1,862,880

270,061

Short-term investments

3,015,226

2,643,817

383,273

Investments

1,141,816

1,142,087

165,568

Quality assurance receivable, net of credit loss allowance for
  quality assurance receivable of RMB581,475 and RMB616,214
  as of December 31, 2025 and March 31, 2026, respectively  

1,315,184

1,376,678

199,576

Intangible assets

270,246

270,246

39,177

Property, equipment and software, net

641,316

625,456

90,672

Loans receivable, net of credit loss allowance for loans receivable
  of RMB544,905 and RMB572,937 as of December 31, 2025 and
  March 31, 2026, respectively

6,471,619

6,963,186

1,009,450

Accounts receivable and contract assets, net of credit loss
  allowance for accounts receivable and contract assets of
  RMB340,816 and RMB349,157 as of December 31, 2025 and
  March 31, 2026, respectively 

2,028,585

1,599,215

231,838

Deferred tax assets

2,992,071

3,219,281

466,698

Right of use assets

52,020

50,340

7,298

Prepaid expenses and other assets

1,207,791

1,168,487

169,395

Goodwill

79,759

79,759

11,563

Total assets

25,413,604

25,689,205

3,724,153

Deferred guarantee income

1,119,004

1,130,264

163,854

Liability from quality assurance commitment

2,574,842

2,374,176

344,183

Payroll and welfare payable

361,188

186,742

27,072

Taxes payable

177,064

428,808

62,164

Short-term borrowings

170,408

192,101

27,849

Funds payable to investors of consolidated trusts

778,531

974,768

141,312

Contract liability

226

-

-

Deferred tax liabilities

786,556

787,615

114,180

Accrued expenses and other liabilities

1,448,231

1,380,470

200,126

Leasing liabilities

44,711

44,760

6,489

Dividends payable

-

506,708

73,457

Convertible senior notes

1,019,266

1,005,162

145,718

Long-term borrowings

89,590

132,118

19,153

Total liabilities

8,569,617

9,143,692

1,325,557

Commitments and contingencies

FinVolution Group Shareholders' equity

Ordinary shares

103

103

15

Additional paid-in capital

5,908,586

5,942,443

861,473

Treasury stock

(2,465,259)

(2,736,995)

(396,781)

Statutory reserves

1,042,312

1,042,312

151,104

Accumulated other comprehensive income

13,027

38,083

5,521

Retained Earnings

12,051,332

11,959,686

1,733,790

Total FinVolution Group shareholders' equity

16,550,101

16,245,632

2,355,122

Non-controlling interest

293,886

299,881

43,474

Total shareholders' equity

16,843,987

16,545,513

2,398,596

Total liabilities and shareholders' equity

25,413,604

25,689,205

3,724,153

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended March 31,

2025

2026

RMB

RMB

USD

Operating revenue:

Loan facilitation service fees

1,477,798

1,181,314

171,255

Post-facilitation service fees

380,614

348,343

50,499

Guarantee income

1,099,514

886,069

128,453

        Net interest income

241,614

484,681

70,264

Other revenue

281,501

309,655

44,890

Net revenue

3,481,041

3,210,062

465,361

Operating expenses:

       Origination, servicing expenses and other costs of revenue

(620,465)

(745,172)

(108,027)

Sales and marketing expenses

(529,703)

(492,447)

(71,390)

Research and development expenses

(126,041)

(125,459)

(18,188)

General and administrative expenses

(106,894)

(113,843)

(16,504)

Provision for accounts receivable and contract assets

(117,718)

(111,514)

(16,166)

Provision for loans receivable

(85,414)

(218,148)

(31,625)

Credit losses for quality assurance commitment

(1,011,615)

(856,637)

(124,186)

Total operating expenses

(2,597,850)

(2,663,220)

(386,086)

Operating profit

883,191

546,842

79,275

Interest expenses

(652)

(17,147)

(2,486)

Other income/(expenses), net

9,033

(15,521)

(2,250)

Profit before income tax expense

891,572

514,174

74,539

Income tax expenses

(153,931)

(93,117)

(13,499)

Net profit

737,641

421,057

61,040

Less: Net (loss)/profit attributable to non-controlling interest shareholders

(8,765)

5,995

869

Net profit attributable to FinVolution Group

746,406

415,062

60,171

Foreign currency translation adjustment, net of nil tax

(16,273)

25,056

3,632

Total comprehensive income attributable to FinVolution Group

730,133

440,118

63,803

Weighted average number of ordinary shares used in computing net profit per share

Basic

1,265,759,932

1,194,294,986

1,194,294,986

Diluted

1,315,948,116

1,283,838,301

1,283,838,301

Net profit per share attributable to FinVolution Group's ordinary shareholders

Basic

0.59

0.35

0.05

Diluted

0.57

0.33

0.05

Net profit per ADS attributable to FinVolution Group's ordinary shareholders (one ADS equals five ordinary shares)

Basic

2.95

1.74

0.25

Diluted

2.84

1.65

0.24

FinVolution Group

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(All amounts in thousands, except share data, or otherwise noted)

Three Months Ended March 31,

2025

2026

RMB

RMB

USD

Net cash provided by operating activities

522,335

225,990

32,760

Net cash provided by investing activities

365,196

146,022

21,168

Net cash (used in)/provided by financing activities

(198,331)

9,418

1,366

Effect of exchange rate changes on cash and cash equivalents

(11,265)

(28,748)

(4,166)

Net increase in cash, cash equivalents and restricted cash

677,935

352,682

51,128

Cash, cash equivalents and restricted cash at beginning of period

6,747,072

6,197,971

898,517

Cash, cash equivalents and restricted cash at end of period

7,425,007

6,550,653

949,645

FinVolution Group

UNAUDITED Reconciliation of GAAP and Non-GAAP Results

(All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended March 31,

2025

2026

RMB

RMB

USD

Net Revenue

3,481,041

3,210,062

465,361

Less: total operating expenses

(2,597,850)

(2,663,220)

(386,086)

Operating Profit

883,191

546,842

79,275

Add: share-based compensation expenses

34,679

38,173

5,534

Non-GAAP adjusted operating profit

917,870

585,015

84,809

Operating Margin

25.4 %

17.0 %

17.0 %

Non-GAAP operating margin

26.4 %

18.2 %

18.2 %

Non-GAAP adjusted operating profit

917,870

585,015

84,809

Less: interest expenses

(652)

(17,147)

(2,486)

Add: other income/(expenses), net

9,033

(15,521)

(2,250)

Less: income tax expenses

(153,931)

(93,117)

(13,499)

Non-GAAP net profit

772,320

459,230

66,574

Less: Net (loss)/profit attributable to non-controlling interest shareholders

(8,765)

5,995

869

Non-GAAP net profit attributable to FinVolution Group

781,085

453,235

65,705

Weighted average number of ordinary shares used in computing net profit per share

Basic

1,265,759,932

1,194,294,986

1,194,294,986

Diluted

1,315,948,116

1,283,838,301

1,283,838,301

Non-GAAP net profit per share attributable to FinVolution Group's ordinary shareholders

Basic

0.62

0.38

0.06

Diluted

0.59

0.36

0.05

Non-GAAP net profit per ADS attributable to FinVolution Group's ordinary shareholders (one ADS equals
five ordinary shares)

Basic

3.09

1.90

0.28

Diluted

2.97

1.80

0.26

FinVolution Group

Selected Segment Information 

(All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended March 31, 2026

Chinese Mainland

Overseas Markets(1)

Others(2)

Elimination

Total

RMB

RMB

RMB

RMB

RMB

Net Revenue

2,216,096

948,946

50,148

(5,128)

3,210,062

Less(3): Operating Expenses (4)

(1,617,349)

(903,196)

(88,761)

5,128

(2,604,178)

Operating Segment Profit/(Loss)

598,747

45,750

(38,613)

-

605,884

Less: Unallocated expenses(5)

(59,042)

Operating profit

546,842

For the Three Months Ended March 31, 2025

Chinese Mainland

Overseas Markets(1)

Others(2)

Elimination

Total

RMB

RMB

RMB

RMB

RMB

Net Revenue

2,770,160

705,343

8,250

(2,712)

3,481,041

Less(3): Operating Expenses (4)

(1,857,018)

(680,964)

(27,901)

2,712

(2,563,171)

Operating Segment Profit/(Loss)

913,142

24,379

(19,651)

-

917,870

Less: Unallocated expenses(5)

(34,679)

Operating profit

883,191

Notes:

(1): "Overseas Markets" includes Indonesia, the Philippines and Australia.

(2): "Others" includes a combination of multiple business activities that each does not meet the quantitative thresholds to qualify as reportable segments.

(3): The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(4): "Operating Expenses" includes Origination, servicing expenses and other costs of revenue, Sales and marketing expenses, General and
administrative expenses, Research and development expenses, Credit losses for quality assurance commitment, Provision for loans receivable and Provision
for accounts receivable and contract assets.

(5): Unallocated expenses are mainly related to share-based compensation, impairment of goodwill of prior acquisitions, and other miscellaneous items that
are not allocated to segments. These expenses are excluded from segment results as they are not reviewed by the CODM as part of segment performance.

FinVolution Group

Selected Segment Information

(All amounts in thousands, except share data, or otherwise noted)

For the Three Months Ended March 31, 2026

Chinese Mainland

Overseas Markets

Others

Unallocated expenses

Total

RMB

RMB

RMB

RMB

RMB

Operating profit

598,747

45,750

(38,613)

(59,042)

546,842

Add: Depreciation and amortization

16,180

1,785

116

-

18,081

Add: Share-based compensation expenses

-

-

-

38,173

38,173

Non-GAAP Adjusted EBITDA

614,927

47,535

(38,497)

(20,869)

603,096

For the Three Months Ended March 31, 2025

Chinese Mainland

Overseas Markets

Others

Unallocated expenses

Total

RMB

RMB

RMB

RMB

RMB

Operating profit

913,142

24,379

(19,651)

(34,679)

883,191

Add: Depreciation and amortization

16,919

1,104

11

-

18,034

Add: Share-based compensation expenses

-

-

-

34,679

34,679

Non-GAAP Adjusted EBITDA

930,061

25,483

(19,640)

-

935,904

Note:

"Non-GAAP Adjusted EBITDA" represents operating profit (loss) plus (a) depreciation and amortization expenses and (b) share-based compensation expenses.

SOURCE FinVolution Group