New Solution Combines Multi-Channel Reach, AI-Powered Orchestration, and Complete Audit Trail to Close the Enterprise Communication Gap for the 70% of Workers Without a Desk
CAMPBELL, Calif.--(BUSINESS WIRE)--8x8, Inc. (NASDAQ: EGHT), a leading global business communications platform provider, has introduced 8x8 Resolve, a mobile-first critical communications and incident management solution purpose-built to reach deskless and distributed workers. The solution addresses a persistent gap that many traditional enterprise communication tools have struggled to solve: reliably notifying, tracking, and coordinating the warehouse staff, retail associates, field technicians, and healthcare aides who, according to a report from The Josh Bersin Company, make up an estimated 70% of the global workforce and who are typically the last to know when something goes wrong.
8x8 Resolve delivers alerts simultaneously across SMS, voice, WhatsApp, and the 8x8 Work mobile app, with no corporate email address, device, or app login required. When a critical event occurs, the solution is designed to automatically escalate across channels until each recipient acknowledges. Every event automatically generates a detailed, exportable communication log, giving incident responders, crisis management teams, HR, BCDR, compliance, and every stakeholder involved a complete, auditable record of every interaction. And when the dust settles, that same log becomes an invaluable resource for post-incident review and operational improvement.
The gap most tools miss
When a critical event strikes, a system outage, a safety incident, a building evacuation, most operations and incident managers discover that their communication stack fails them at exactly the wrong moment. Email rarely reaches the floor. Most messaging apps are built for desk workers. Manual call trees break down under pressure. Consumer WhatsApp groups offer limited audit trail capability and limited corporate oversight.
The workers most affected, those without a company-issued device or corporate identity in IT systems, are effectively unreachable through standard enterprise tools. 8x8 Resolve is designed specifically to reach these corporate digital orphans.
"We’ve spent decades over-tooling the C-suite while leaving the frontline to rot in a mess of manual call trees and ignored emails. In a world of infinite noise, messaging is one of the most effective things that actually moves the needle. By the time an email is read, the crisis has already evolved," said Dave Michels, Principal Analyst and Founder at TalkingPointz. "8x8 Resolve stops treating the deskless workforce like an afterthought, using the channels they actually check, SMS, and WhatsApp, to turn chaotic disruptions into orchestrated, audited responses."
How 8x8 Resolve works
8x8 Resolve covers the full incident lifecycle: detection, notification, acknowledgment, escalation, and resolution, in a single solution.
Broad employee reach: Alerts can go simultaneously across SMS, voice, WhatsApp, and the 8x8 Work mobile app. Workers without a corporate email address, company device, or app login can be reached on the phone they already carry. Automated escalation: When a message goes unread, 8x8 Resolve is designed to cascade to the next channel until acknowledgment is confirmed. Set it up once: Workflows trigger automatically via webhook or schedule, and recipient lists stay current through native sync with Microsoft Entra ID, Google Workspace, Okta, and Workday, no manual maintenance required. Employees as incident sensors: Conversational AI lets employees report incidents via SMS or WhatsApp. Structured data is captured without a separate app, form, or training. Exportable communication log: Every event automatically captures a full record of who was notified, on which channel, and when they responded, giving incident responders, crisis management teams, HR, BCDR, and compliance stakeholders a ready-made audit trail that eliminates post-incident reconstruction and supports operational review. Built for resilience: 8x8 Resolve operates independently of corporate email and is designed to remain available when other primary systems go down. Who it’s for
8x8 Resolve is built for incident and operations managers, IT leaders, and business continuity, safety, and compliance teams at mid-market and enterprise organizations, across healthcare, retail, education, utilities, logistics, and manufacturing. In regulated industries, documented notification trails aren't optional, and many current tools may not fully meet that requirement. “Despite an increase in enterprise risk management (ERM) ownership of business continuity management (BCM), rising from 23% in 2020 to 29% in 2025, an alarming 62% of heads of ERM admit that their current BCM plans fail to adequately prepare their organizations for potential disruptions," according to the Gartner® 2025 Resource Guide to Effective Business Continuity Management report1.
"Too many critical events still end with someone asking who got the message and who didn't,” said Hunter Middleton, Chief Product Officer at 8x8, Inc. “8x8 Resolve answers that question before it's asked. It is designed to reach every employee on whatever channel they are reachable on, escalates automatically until acknowledgment is confirmed, and produces a complete record of every step. From first alert to confirmed resolution, in one platform. For businesses with distributed or deskless workforces, that's the difference between managing an incident and being managed by one."
Availability
8x8 Resolve is available now for select 8x8 customers. Organizations that have struggled to reach deskless workers during a critical event or that face compliance obligations around documented emergency notification, are encouraged to reach out to their account manager or visit https://www.8x8.com/products/resolve.
8x8, Inc. is committed to the responsible use of artificial intelligence and the protection of customer data. The 8x8 Platform for CX is developed and operated in accordance with established security standards, applicable compliance frameworks, and internal governance policies, including privacy-by-design principles that safeguard personal data on the 8x8 platform. Full details are available at trust.8x8.com.
[1] Gartner Resource Guide to Effective Business Continuity Management, Enterprise Risk Management Research Team, 11 September 2025. GARTNER is a trademark of Gartner, Inc. and/or its affiliates.
About 8x8, Inc.
8x8, Inc. (NASDAQ: EGHT) connects people and organizations through seamless communication on one of the industry's most integrated platforms for Customer Experience – combining Contact Center, Unified Communications, and CPaaS solutions. The 8x8® Platform for CX integrates AI to enable personalized customer journeys, drive operational excellence and insights, and facilitate team collaboration. As a business communications leader, the company helps customer experience and IT leaders around the world become the heartbeat of their organizations, empowering them to unlock the potential of every interaction. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X, and Facebook.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected capabilities and availability of 8x8 Resolve. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. For a discussion of these risks and uncertainties, please refer to 8x8’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 8x8 assumes no obligation to update any forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.
Copyright 2026 8x8, Inc. 8x8, 8x8 Resolve, 8x8 Work, and 8x8 Platform for CX and associated brand assets are trademarks or registered trademarks of 8x8, Inc. All rights reserved.
All third-party trademarks are the property of their respective owners.
From the Executive Suite to the Frontline Account Manager. Powered by 8x8's Native Conversational Data Foundation. Now in Early Availability.
CAMPBELL, Calif.--(BUSINESS WIRE)--8x8, Inc. (NASDAQ: EGHT), a leading global business communications platform provider, introduced 8x8 Pulse, a conversational intelligence solution built on a different architectural premise: that intelligence should live where conversations happen, not in another layer of integrations bolted on top. 8x8 Pulse turns the conversations a business already generates into a working source of truth teams can act on, from the executive suite to the account manager. It runs on 8x8's native conversational data foundation, which ingests, governs, structures, and contextualizes business conversations so they can be trusted and used safely at enterprise scale.
Most of what a business actually knows about its customers and its operations lives in conversations the CRM and other traditional systems of record were not primarily designed to capture. What gets said in those conversations, and in the internal exchanges around them, carries the commitments, risks, and signals that influence decisions every day. That information has historically stayed scattered across recordings, transcripts, inboxes, and tickets, and the tools built to surface it tend to add integration overhead rather than serve it.
Inside many organizations, the CRO is managing forecast confidence on the basis of what someone remembered to log. The customer success leader is running Monday's team meeting largely on gut feel. The product leader is reconstructing the roadmap by stitching together voice-of-customer one chat thread at a time. The account manager is hunting for context before calls that may already exist somewhere in the system. Relationship context walks out the door when an account owner leaves.
8x8's conversational data foundation is built to change that pattern. It captures the conversations a business already has, including sales calls, customer success reviews, support escalations, executive briefings, partner check-ins, emails, internal chats, and support tickets, and pairs that signal with telemetry, CRM data, and financial context from across the business. Communication data flows natively from the 8x8 ecosystem and beyond, with governance, audit, and rights management built into the foundation itself. Answers trace back to the source conversations they came from, and identity is resolved across the systems a business already runs. 8x8 Pulse uses that foundation to surface the actual substance of what customers are saying, from product feedback to competitive intelligence to renewal signal, ready to be put to work. Anyone, from the CRO to the account manager, can ask in natural language and see exactly which conversation the answer came from.
“You don't search your own memory, the right thing just surfaces when you need it,” said Hunter Middleton, Chief Product Officer at 8x8, Inc. “Companies never had that. They had recordings nobody replays and knowledge that might walk out the door. 8x8 Pulse gives organizations a more human kind of memory: shared, in context, and traceable to the source. We can do this because we were there when the conversation happened, the calls, the meetings, the contact center interactions. We capture it at the source, governed from the first word. Every new conversation connects to the ones before it, the way memories link in your head. You can't bolt that on. You have to be there."
8x8 Pulse meets users in the way that fits their workflow. As a standalone solution, it serves as a dedicated workspace for leaders mining patterns across their business. As an assistant inside Salesforce, the Chrome browser, and 8x8 Work, it brings the same insight into the tools customers already use. As an email digest, it notifies users when key signals surface.
The gap 8x8 Pulse is built to close is measurable. According to Metrigy's Customer Experience Optimization: 2025-26 research study, not having or acting on customer feedback leads to a decline in customer service. At companies with worsening customer service, 32.1% of CX leaders admit they're not doing anything at all or not enough with customer feedback, even as analytics capabilities rank among the top transformation priorities for more than half of companies surveyed.
"CX leaders have more data than ever and less ability to act on it than they need," said Beth Schultz, VP of Research and Principal Analyst at Metrigy. "Complex layered architecture is a problem. With every additional intelligence layer comes integration lag, and by the time the signal surfaces, the conversation is often over. Placing the intelligence where the conversation is, as 8x8 does with Pulse, means fewer handoffs between interaction and insight. That makes for a meaningful architectural difference."
Availability
8x8 Pulse is in early availability for select 8x8 customers. For more details, contact an Account Manager or Customer Success Manager.
8x8, Inc. is committed to the responsible use of artificial intelligence and the protection of customer data. The 8x8 Platform for CX is developed and operated in accordance with established security standards, applicable compliance frameworks, and internal governance policies, including privacy-by-design principles that safeguard personal data on the 8x8 platform. Full details are available at trust.8x8.com.
About 8x8, Inc.
8x8, Inc. (NASDAQ: EGHT) connects people and organizations through seamless communication on one of the industry's most integrated platforms for Customer Experience – combining Contact Center, Unified Communications, and CPaaS solutions. The 8x8® Platform for CX integrates AI to enable personalized customer journeys, drive operational excellence and insights, and facilitate team collaboration. As a business communications leader, the company helps customer experience and IT leaders around the world become the heartbeat of their organizations, empowering them to unlock the potential of every interaction. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X, and Facebook.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected capabilities and availability of 8x8 Pulse, including anticipated customer benefits, the expected benefits of the conversational data foundation, and future product expansions. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. For a discussion of these risks and uncertainties, please refer to 8x8’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 8x8 assumes no obligation to update any forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.
Copyright 2026 8x8, Inc. 8x8, 8x8 Pulse, and associated brand assets are trademarks or registered trademarks of 8x8, Inc. All rights reserved. All third-party trademarks are the property of their respective owners.
8x8, Inc. (NASDAQ: EGHT), a leading global business communications platform provider, introduced 8x8 Pulse, a conversational intelligence solution built on a different architectural premise: that intelligence should live where conversations happen, not in another layer of integrations bolted on top. 8x8 Pulse turns the conversations a business already generates into a working source of truth teams can act on, from the executive suite to the account manager. It runs on 8x8's native conversational data foundation, which ingests, governs, structures, and contextualizes business conversations so they can be trusted and used safely at enterprise scale.
Most of what a business actually knows about its customers and its operations lives in conversations the CRM and other traditional systems of record were not primarily designed to capture. What gets said in those conversations, and in the internal exchanges around them, carries the commitments, risks, and signals that influence decisions every day. That information has historically stayed scattered across recordings, transcripts, inboxes, and tickets, and the tools built to surface it tend to add integration overhead rather than serve it.
Inside many organizations, the CRO is managing forecast confidence on the basis of what someone remembered to log. The customer success leader is running Monday's team meeting largely on gut feel. The product leader is reconstructing the roadmap by stitching together voice-of-customer one chat thread at a time. The account manager is hunting for context before calls that may already exist somewhere in the system. Relationship context walks out the door when an account owner leaves.
8x8's conversational data foundation is built to change that pattern. It captures the conversations a business already has, including sales calls, customer success reviews, support escalations, executive briefings, partner check-ins, emails, internal chats, and support tickets, and pairs that signal with telemetry, CRM data, and financial context from across the business. Communication data flows natively from the 8x8 ecosystem and beyond, with governance, audit, and rights management built into the foundation itself. Answers trace back to the source conversations they came from, and identity is resolved across the systems a business already runs. 8x8 Pulse uses that foundation to surface the actual substance of what customers are saying, from product feedback to competitive intelligence to renewal signal, ready to be put to work. Anyone, from the CRO to the account manager, can ask in natural language and see exactly which conversation the answer came from.
“You don't search your own memory, the right thing just surfaces when you need it,” said Hunter Middleton, Chief Product Officer at 8x8, Inc. “Companies never had that. They had recordings nobody replays and knowledge that might walk out the door. 8x8 Pulse gives organizations a more human kind of memory: shared, in context, and traceable to the source. We can do this because we were there when the conversation happened, the calls, the meetings, the contact center interactions. We capture it at the source, governed from the first word. Every new conversation connects to the ones before it, the way memories link in your head. You can't bolt that on. You have to be there."
8x8 Pulse meets users in the way that fits their workflow. As a standalone solution, it serves as a dedicated workspace for leaders mining patterns across their business. As an assistant inside Salesforce, the Chrome browser, and 8x8 Work, it brings the same insight into the tools customers already use. As an email digest, it notifies users when key signals surface.
The gap 8x8 Pulse is built to close is measurable. According to Metrigy's Customer Experience Optimization: 2025-26 research study, not having or acting on customer feedback leads to a decline in customer service. At companies with worsening customer service, 32.1% of CX leaders admit they're not doing anything at all or not enough with customer feedback, even as analytics capabilities rank among the top transformation priorities for more than half of companies surveyed.
"CX leaders have more data than ever and less ability to act on it than they need," said Beth Schultz, VP of Research and Principal Analyst at Metrigy. "Complex layered architecture is a problem. With every additional intelligence layer comes integration lag, and by the time the signal surfaces, the conversation is often over. Placing the intelligence where the conversation is, as 8x8 does with Pulse, means fewer handoffs between interaction and insight. That makes for a meaningful architectural difference."
Availability
8x8 Pulse is in early availability for select 8x8 customers. For more details, contact an Account Manager or Customer Success Manager.
8x8, Inc. is committed to the responsible use of artificial intelligence and the protection of customer data. The 8x8 Platform for CX is developed and operated in accordance with established security standards, applicable compliance frameworks, and internal governance policies, including privacy-by-design principles that safeguard personal data on the 8x8 platform. Full details are available at trust.8x8.com.
About 8x8, Inc.
8x8, Inc. (NASDAQ: EGHT) connects people and organizations through seamless communication on one of the industry's most integrated platforms for Customer Experience – combining Contact Center, Unified Communications, and CPaaS solutions. The 8x8® Platform for CX integrates AI to enable personalized customer journeys, drive operational excellence and insights, and facilitate team collaboration. As a business communications leader, the company helps customer experience and IT leaders around the world become the heartbeat of their organizations, empowering them to unlock the potential of every interaction. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X, and Facebook.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected capabilities and availability of 8x8 Pulse, including anticipated customer benefits, the expected benefits of the conversational data foundation, and future product expansions. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. For a discussion of these risks and uncertainties, please refer to 8x8’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 8x8 assumes no obligation to update any forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.
Copyright 2026 8x8, Inc. 8x8, 8x8 Pulse, and associated brand assets are trademarks or registered trademarks of 8x8, Inc. All rights reserved. All third-party trademarks are the property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260603379786/en/
8x8 Announces 8x8 Resolve, a Critical Communications Solution Built for the Deskless Workforce 8x8, Inc. (NASDAQ: EGHT), a leading global business communications platform provider, has introduced 8x8 Resolve, a mobile-first critical communications and incident management solution purpose-built to reach deskless and distributed workers. The solution addresses a persistent gap that many traditional enterprise communication tools have struggled to solve: reliably notifying, tracking, and coordinating the warehouse staff, retail associates, field technicians, and healthcare aides who, according to a report from The Josh Bersin Company, make up an estimated 70% of the global workforce and who are typically the last to know when something goes wrong.
8x8 Resolve delivers alerts simultaneously across SMS, voice, WhatsApp, and the 8x8 Work mobile app, with no corporate email address, device, or app login required. When a critical event occurs, the solution is designed to automatically escalate across channels until each recipient acknowledges. Every event automatically generates a detailed, exportable communication log, giving incident responders, crisis management teams, HR, BCDR, compliance, and every stakeholder involved a complete, auditable record of every interaction. And when the dust settles, that same log becomes an invaluable resource for post-incident review and operational improvement.
The gap most tools miss
When a critical event strikes, a system outage, a safety incident, a building evacuation, most operations and incident managers discover that their communication stack fails them at exactly the wrong moment. Email rarely reaches the floor. Most messaging apps are built for desk workers. Manual call trees break down under pressure. Consumer WhatsApp groups offer limited audit trail capability and limited corporate oversight.
The workers most affected, those without a company-issued device or corporate identity in IT systems, are effectively unreachable through standard enterprise tools. 8x8 Resolve is designed specifically to reach these corporate digital orphans.
"We’ve spent decades over-tooling the C-suite while leaving the frontline to rot in a mess of manual call trees and ignored emails. In a world of infinite noise, messaging is one of the most effective things that actually moves the needle. By the time an email is read, the crisis has already evolved," said Dave Michels, Principal Analyst and Founder at TalkingPointz. "8x8 Resolve stops treating the deskless workforce like an afterthought, using the channels they actually check, SMS, and WhatsApp, to turn chaotic disruptions into orchestrated, audited responses."
How 8x8 Resolve works
8x8 Resolve covers the full incident lifecycle: detection, notification, acknowledgment, escalation, and resolution, in a single solution.
Broad employee reach: Alerts can go simultaneously across SMS, voice, WhatsApp, and the 8x8 Work mobile app. Workers without a corporate email address, company device, or app login can be reached on the phone they already carry. Automated escalation: When a message goes unread, 8x8 Resolve is designed to cascade to the next channel until acknowledgment is confirmed. Set it up once: Workflows trigger automatically via webhook or schedule, and recipient lists stay current through native sync with Microsoft Entra ID, Google Workspace, Okta, and Workday, no manual maintenance required. Employees as incident sensors: Conversational AI lets employees report incidents via SMS or WhatsApp. Structured data is captured without a separate app, form, or training. Exportable communication log: Every event automatically captures a full record of who was notified, on which channel, and when they responded, giving incident responders, crisis management teams, HR, BCDR, and compliance stakeholders a ready-made audit trail that eliminates post-incident reconstruction and supports operational review. Built for resilience: 8x8 Resolve operates independently of corporate email and is designed to remain available when other primary systems go down. Who it’s for
8x8 Resolve is built for incident and operations managers, IT leaders, and business continuity, safety, and compliance teams at mid-market and enterprise organizations, across healthcare, retail, education, utilities, logistics, and manufacturing. In regulated industries, documented notification trails aren't optional, and many current tools may not fully meet that requirement. “Despite an increase in enterprise risk management (ERM) ownership of business continuity management (BCM), rising from 23% in 2020 to 29% in 2025, an alarming 62% of heads of ERM admit that their current BCM plans fail to adequately prepare their organizations for potential disruptions," according to the Gartner® 2025 Resource Guide to Effective Business Continuity Management report1.
"Too many critical events still end with someone asking who got the message and who didn't,” said Hunter Middleton, Chief Product Officer at 8x8, Inc. “8x8 Resolve answers that question before it's asked. It is designed to reach every employee on whatever channel they are reachable on, escalates automatically until acknowledgment is confirmed, and produces a complete record of every step. From first alert to confirmed resolution, in one platform. For businesses with distributed or deskless workforces, that's the difference between managing an incident and being managed by one."
Availability
8x8 Resolve is available now for select 8x8 customers. Organizations that have struggled to reach deskless workers during a critical event or that face compliance obligations around documented emergency notification, are encouraged to reach out to their account manager or visit https://www.8x8.com/products/resolve.
8x8, Inc. is committed to the responsible use of artificial intelligence and the protection of customer data. The 8x8 Platform for CX is developed and operated in accordance with established security standards, applicable compliance frameworks, and internal governance policies, including privacy-by-design principles that safeguard personal data on the 8x8 platform. Full details are available at trust.8x8.com.
[1] Gartner Resource Guide to Effective Business Continuity Management, Enterprise Risk Management Research Team, 11 September 2025. GARTNER is a trademark of Gartner, Inc. and/or its affiliates.
About 8x8, Inc.
8x8, Inc. (NASDAQ: EGHT) connects people and organizations through seamless communication on one of the industry's most integrated platforms for Customer Experience – combining Contact Center, Unified Communications, and CPaaS solutions. The 8x8® Platform for CX integrates AI to enable personalized customer journeys, drive operational excellence and insights, and facilitate team collaboration. As a business communications leader, the company helps customer experience and IT leaders around the world become the heartbeat of their organizations, empowering them to unlock the potential of every interaction. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X, and Facebook.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected capabilities and availability of 8x8 Resolve. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. For a discussion of these risks and uncertainties, please refer to 8x8’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 8x8 assumes no obligation to update any forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.
Copyright 2026 8x8, Inc. 8x8, 8x8 Resolve, 8x8 Work, and 8x8 Platform for CX and associated brand assets are trademarks or registered trademarks of 8x8, Inc. All rights reserved.
All third-party trademarks are the property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260603488922/en/
Competing against Google, Adobe, and JBL, The Power of You claimed the top AI prize by leading with people over product
CAMPBELL, Calif.--(BUSINESS WIRE)--8x8, Inc. (NASDAQ: EGHT) won Gold in the AI category at The Drum Awards for Marketing Americas for its "The Power of You" brand campaign. The award was presented June 4, 2026, and marks the eighth industry recognition for the campaign since its August 2025 launch – and one of the highest honors in global marketing. 8x8 won the Gold in a category that included finalists Google, JBL, Adobe, and others.
Prior recognitions include Platinum honors from the Pinnacle Marketing & Comms Award, AVA Digital Awards, and MarCom Award, along with Gold, Winner, and Award of Distinction recognitions across the Muse Creative Awards, Hermes Creative Awards, IAC Awards, and Communicator Awards.
In a category where many vendors lead with product features and AI roadmaps, the IT leaders, contact center managers, and CX professionals actually accountable for outcomes had never been the protagonist. The Power of You is 8x8’s answer to that gap, putting real 8x8 customers at the center, using cinematic visuals and generative AI production to bring their work to life at a scale that wasn't previously possible in B2B marketing.
In December 2025, The Power of You reached its clearest proof point. 8x8 brought Genelle Chamberlain, a Service Desk Manager at PrimeSource and Dimora Brands, to Times Square, where her film ran on one of the world's largest screens in front of approximately 220,000 daily visitors. Her husband was there. Members from her Brooklyn office came out to watch. She cried tears of joy.
"This is another strong signal that what we're building at 8x8 is genuinely unique,” said Bruno Bertini, Chief Marketing Officer at 8x8, Inc. “Our brand is built on a real purpose. Putting the spotlight on the leaders who actually do the work, and using modern AI to tell their stories through cinematic scenes. The Power of You is the connective tissue of our strategy. It connects our customers, our partners, our employees, and our analysts around a brand that's actively supporting our company’s transformation and growth."
The campaign was developed in partnership with the creative agency Optimism BH. More can be found at 8x8.com/thepowerofyou.
About 8x8, Inc.
8x8, Inc. (NASDAQ: EGHT) connects people and organizations through seamless communication on one of the industry's most integrated platforms for Customer Experience – combining Contact Center, Unified Communications, and CPaaS solutions. The 8x8® Platform for CX integrates AI to enable personalized customer journeys, drive operational excellence and insights, and facilitate team collaboration. As a business communications leader, the company helps customer experience and IT leaders around the world become the heartbeat of their organizations, empowering them to unlock the potential of every interaction. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X, and Facebook.
Copyright 2026 8x8, Inc. 8x8 and associated brand assets are trademarks of 8x8, Inc. All rights reserved.
8x8, Inc. (NASDAQ: EGHT) won Gold in the AI category at The Drum Awards for Marketing Americas for its "The Power of You" brand campaign. The award was presented June 4, 2026, and marks the eighth industry recognition for the campaign since its August 2025 launch – and one of the highest honors in global marketing. 8x8 won the Gold in a category that included finalists Google, JBL, Adobe, and others.
Prior recognitions include Platinum honors from the Pinnacle Marketing & Comms Award, AVA Digital Awards, and MarCom Award, along with Gold, Winner, and Award of Distinction recognitions across the Muse Creative Awards, Hermes Creative Awards, IAC Awards, and Communicator Awards.
In a category where many vendors lead with product features and AI roadmaps, the IT leaders, contact center managers, and CX professionals actually accountable for outcomes had never been the protagonist. The Power of You is 8x8’s answer to that gap, putting real 8x8 customers at the center, using cinematic visuals and generative AI production to bring their work to life at a scale that wasn't previously possible in B2B marketing.
In December 2025, The Power of You reached its clearest proof point. 8x8 brought Genelle Chamberlain, a Service Desk Manager at PrimeSource and Dimora Brands, to Times Square, where her film ran on one of the world's largest screens in front of approximately 220,000 daily visitors. Her husband was there. Members from her Brooklyn office came out to watch. She cried tears of joy.
"This is another strong signal that what we're building at 8x8 is genuinely unique,” said Bruno Bertini, Chief Marketing Officer at 8x8, Inc. “Our brand is built on a real purpose. Putting the spotlight on the leaders who actually do the work, and using modern AI to tell their stories through cinematic scenes. The Power of You is the connective tissue of our strategy. It connects our customers, our partners, our employees, and our analysts around a brand that's actively supporting our company’s transformation and growth."
The campaign was developed in partnership with the creative agency Optimism BH. More can be found at 8x8.com/thepowerofyou.
About 8x8, Inc.
8x8, Inc. (NASDAQ: EGHT) connects people and organizations through seamless communication on one of the industry's most integrated platforms for Customer Experience – combining Contact Center, Unified Communications, and CPaaS solutions. The 8x8® Platform for CX integrates AI to enable personalized customer journeys, drive operational excellence and insights, and facilitate team collaboration. As a business communications leader, the company helps customer experience and IT leaders around the world become the heartbeat of their organizations, empowering them to unlock the potential of every interaction. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X, and Facebook.
Copyright 2026 8x8, Inc. 8x8 and associated brand assets are trademarks of 8x8, Inc. All rights reserved.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260609949255/en/
AI-Powered Automatic Quality Evaluations Extend 8x8’s Integrated Workforce Engagement Management Strategy Across the 8x8 Platform for CX
CAMPBELL, Calif.--(BUSINESS WIRE)--8x8, Inc. (NASDAQ: EGHT), a leading global business communications platform provider, has seen nearly 3x growth in its workforce management customer base since its early availability announcement of 8x8 Workforce Management (WFM), offered at no additional cost. As organizations replace fragmented, bolt-on workforce tools with capabilities built directly into the 8x8 Platform for CX, the momentum reflects a broader shift in how contact center leaders are thinking about workforce management.
With AI interactions growing triple digits year-over-year, according to 8x8’s Q4 FY26 data, contact centers are increasingly choosing the 8x8 Platform for CX not just to handle customer interactions, but to manage, develop, and optimize the teams behind them — driving adoption of 8x8 WFM, available at no additional cost to 8x8 Contact Center customers, and the newly launched automatic evaluations for 8x8 Quality Management.
"Standalone WFM tools were built for the largest, most complex contact centers in the world – and that left organizations with the hundred-seat operations on the sidelines, making do with spreadsheets and gut instinct,” said Hunter Middleton, Chief Product Officer at 8x8, Inc. “That's the gap we're closing. When workforce management is embedded directly in the platform contact center teams are already running, there's no six-figure implementation project, no IT backlog, no second vendor to manage. The hundred-seat contact center has always deserved enterprise-grade WFM — they just never had a version built for them, until now."
WFM adoption hits nearly 3x growth, driven by supervisor self-activation
Between November 2025 and the end of Q4 FY26, 8x8 WFM customer growth across the 8x8 installed base has increased by more than 170%, with adoption concentrated in deployments of 101–250 and 250+ agents. Unlike legacy WFM tools that require months of implementation, IT involvement, and upfront investment, 8x8 WFM can be activated by contact center supervisors themselves typically in minutes, with no IT admin required, and with instant access to up to 12 months of data.
The operational impact is immediate: supervisors gain real-time visibility into staffing gaps and demand patterns, enabling closer alignment between agent schedules and customer volume, reduced wait times, and more time spent coaching rather than firefighting. What once required coordination across IT, operations, and finance teams can now be done independently by the people closest to the customer experience.
For organizations implementing 8x8 WFM, feedback in early evaluation reflects that directly.
“Prior to 8x8 Workforce Management implementation our supervisors were relying on spreadsheets and guesses on how to schedule their staff,” said Genelle Chamberlain, IT Manager at PrimeSource and Dimora Brands. “Oftentimes calls would come in with no one available to answer. But now leaders gain the insight to forecast demand, optimize schedules, and ensure every shift has the right amount of coverage. Call abandonment has dropped and customer satisfaction has soared. The agents don't feel overwhelmed and frustrated and we are staffed to the needs of the business.” “As we pilot the 8x8 WFM tool, we are excited about several promising features,” said Hunain Kalim, Process Support Lead at Oxford University Press. “By feeding directly from live 8x8 queues and contacts, it has the potential to streamline the entire resource planning process across hundreds of queues and multiple teams.” AI-powered quality management: from sampling to 100% coverage
Extending the WFM momentum, 8x8 has also launched 8x8 Quality Management with automatic evaluations, which automatically scores 100% of eligible interactions using AI, complementing manual processes that typically review only a small fraction of calls. Every score is grounded in the actual call transcript, with answer-reference mapping that cites directly from the conversation, giving agents clear visibility into how evaluations were reached and making coaching conversations more objective and productive.
Because 8x8 Quality Management is built on the same unified data foundation as the broader 8x8 Platform for CX, quality insights are connected to the full customer journey, not isolated in a standalone tool. With this in mind, 8x8 Quality Management with automatic evaluations not only saves time by removing unnecessary manual evaluations but also provides a scalable, unified data foundation where insights previously kept siloed can be used for other applications, like smarter routing, in the future.
"The barrier to WFM adoption for SMBs has never been awareness – it's been cost and complexity,” said Layne Haaksma, Senior Research Analyst at Metrigy. “By including core WFM at no charge while offering advanced AI-driven capabilities as optional add-ons, 8x8 creates a natural growth path that aligns with how SMBs actually buy. Our research backs it up: 58.3% of SMBs expect automated scheduling and forecasting to come standard with their platform according to Metrigy’s Workforce Engagement Management 2025-26 global research study. The market was already moving in this direction; 8x8 is leading the charge for its customers."
Together, 8x8 WFM and 8x8 Quality Management represent core components of an integrated Workforce Engagement Management (WEM) strategy that organizations can activate within their existing 8x8 Contact Center subscription without new vendors, complex integrations or IT-led projects typically required for standalone WEM tools.
To learn more, visit 8x8.com/solutions/optimize-your-workforce or explore the 8x8 WFM product tour.
About 8x8, Inc.
8x8, Inc. (NASDAQ: EGHT) connects people and organizations through seamless communication on one of the industry's most integrated platforms for Customer Experience – combining Contact Center, Unified Communications, and CPaaS solutions. The 8x8® Platform for CX integrates AI to enable personalized customer journeys, drive operational excellence and insights, and facilitate team collaboration. As a business communications leader, the company helps customer experience and IT leaders around the world become the heartbeat of their organizations, empowering them to unlock the potential of every interaction. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X, and Facebook.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the continued growth and adoption of 8x8 Workforce Management (WFM); the expected capabilities, availability, and benefits of 8x8 Quality Management with automatic evaluations and other AI-powered features; anticipated customer benefits and deployment outcomes; the advantages of an integrated Workforce Engagement Management (WEM) strategy delivered on the 8x8 Platform for CX; and 8x8’s strategic plans for further developing and integrating workforce, quality, and AI capabilities. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by these statements. For a discussion of these risks and uncertainties, please refer to 8x8’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 8x8 assumes no obligation to update any forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.
Copyright 2026 8x8, Inc. 8x8 and associated brand assets are trademarks of 8x8, Inc. All rights reserved.
Real-Time Voice Translation, Selectable AI Models Across Claude, Gemini, Grok, and ChatGPT, One-click Connectors to More Than Fifteen Enterprise Apps Among the Latest 8x8 AI Studio Capabilities Delivered Since Launch
CAMPBELL, Calif.--(BUSINESS WIRE)--8x8, Inc. (NASDAQ: EGHT), a leading global business communications platform provider, continues its rapid expansion of 8x8 AI Studio capabilities since its launch earlier this year, including the addition of multi-LLM model selection, one-click system connectors, voice-driven agent building, and IVR conversion. With its most recent addition, live simultaneous voice translation, 8x8 AI Studio now lets agents and customers speak their own language in real time, across 13 languages, without switching channels, adding interpreters, or interrupting the conversation. It’s now in early availability for customers.
The experience is designed to be immediate and unobtrusive. When a customer speaks in French, Spanish, or Japanese, for example, the agent hears the customer's original voice softened beneath a real-time AI-generated translation in their own language — no lag, no relay interpreter, no separate call. The same works in reverse. Both parties speak naturally and the conversation simply works.
When a customer contacts support in a language the agent doesn't speak, the typical outcomes are a transfer, a callback, or a dropped interaction. Live translation in 8x8 AI Studio changes that. The agent stays on the call, the customer doesn't repeat themselves, and the interaction resolves instead of escalating.
Live translation runs directly within the 8x8 AI Studio voice agent and advisor experience — with no third-party interpretation service to connect and no workflow changes required. Translation is handled automatically when a language mismatch is detected. The full interaction — original speech and translated output — is captured in the call record and the live advisor interface. Supervisors reviewing sessions see both, so quality assurance does not depend on guesswork about what was said.
Live translation builds on the AI model improvements already in 8x8 AI Studio — specifically the more accurate transcription of accented and non-native speech introduced with the recent addition of OpenAI's GPT-Realtime-2. That accuracy is what makes the experience more reliable across languages, not just common ones.
Since launch, 8x8 AI Studio has delivered several capabilities that change how organizations build, deploy, and run AI agents in production, such as:
Every agent runs on the right model for the job across both voice and text channels, because Claude, Gemini, Grok, and ChatGPT are all selectable per agent with no platform change required to switch. Agents take action inside the systems customers already run, with one-click connectors to HubSpot, Slack, Stripe, Atlassian, Twilio, GitHub, Asana, Figma, Intercom, Dropbox, and ClickUp available out of the box, no integration project required. Businesses move off legacy phone-tree IVRs without rebuilding from scratch, because the Builder reads existing 8x8 auto-attendants and converts them into AI Studio call flows it can then improve. Agents are built and edited by speaking instead of typing, because the Builder transcribes push-to-talk dictation, cleans up filler and self-corrections, and drops the text in for review before anything is sent. Customers reach an agent right on the website by voice or text, can share an image when words are not enough, and get connected to a live agent the moment they need one, all from a single embeddable widget. “I’ve spent much of my life living abroad, and I know from experience how isolating a language barrier can be,” said Emil Ivov, VP of Product for Video Platform and Services at 8x8, Inc. “As an international student in France, even simple tasks like contacting a service provider or calling customer support could feel overwhelming. Those challenges still affect millions of people every day. With real-time translation in 8x8 AI Studio, we’re helping organizations communicate with customers in their preferred language, making support more accessible, more natural, and more human.”
Live voice translation in 8x8 AI Studio is available now for customers in early availability. For more information, visit docs.8x8.studio or contact your 8x8 account team.
8x8, Inc. is committed to the responsible use of artificial intelligence and the protection of customer data. The 8x8 Platform for CX is developed and operated in accordance with established security standards, applicable compliance frameworks, and internal governance policies, including privacy-by-design principles that safeguard personal data on the 8x8 platform. Full details are available at trust.8x8.com.
About 8x8, Inc.
8x8, Inc. (NASDAQ: EGHT) connects people and organizations through seamless communication on one of the industry's most integrated platforms for Customer Experience – combining Contact Center, Unified Communications, and CPaaS solutions. The 8x8® Platform for CX integrates AI to enable personalized customer journeys, drive operational excellence and insights, and facilitate team collaboration. As a business communications leader, the company helps customer experience and IT leaders around the world become the heartbeat of their organizations, empowering them to unlock the potential of every interaction. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X, and Facebook.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected capabilities and availability of real-time AI translation features on the 8x8 Platform for CX, anticipated customer benefits and deployment outcomes across 13 languages, the advantages of multi-LLM AI architecture and integrations with HubSpot, Slack, and Stripe, and expected enhancements to customer experience and contact center performance. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. For a discussion of these risks and uncertainties, please refer to 8x8's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 8x8 assumes no obligation to update any forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.
Copyright 2026 8x8, Inc. 8x8 and associated brand assets are trademarks of 8x8, Inc. All rights reserved.
8x8 AI Studio Delivers Wave of New Capabilities as Platform Expansion Accelerates 8x8, Inc. (NASDAQ: EGHT), a leading global business communications platform provider, continues its rapid expansion of 8x8 AI Studio capabilities since its launch earlier this year, including the addition of multi-LLM model selection, one-click system connectors, voice-driven agent building, and IVR conversion. With its most recent addition, live simultaneous voice translation, 8x8 AI Studio now lets agents and customers speak their own language in real time, across 13 languages, without switching channels, adding interpreters, or interrupting the conversation. It’s now in early availability for customers.
The experience is designed to be immediate and unobtrusive. When a customer speaks in French, Spanish, or Japanese, for example, the agent hears the customer's original voice softened beneath a real-time AI-generated translation in their own language — no lag, no relay interpreter, no separate call. The same works in reverse. Both parties speak naturally and the conversation simply works.
When a customer contacts support in a language the agent doesn't speak, the typical outcomes are a transfer, a callback, or a dropped interaction. Live translation in 8x8 AI Studio changes that. The agent stays on the call, the customer doesn't repeat themselves, and the interaction resolves instead of escalating.
Live translation runs directly within the 8x8 AI Studio voice agent and advisor experience — with no third-party interpretation service to connect and no workflow changes required. Translation is handled automatically when a language mismatch is detected. The full interaction — original speech and translated output — is captured in the call record and the live advisor interface. Supervisors reviewing sessions see both, so quality assurance does not depend on guesswork about what was said.
Live translation builds on the AI model improvements already in 8x8 AI Studio — specifically the more accurate transcription of accented and non-native speech introduced with the recent addition of OpenAI's GPT-Realtime-2. That accuracy is what makes the experience more reliable across languages, not just common ones.
Since launch, 8x8 AI Studio has delivered several capabilities that change how organizations build, deploy, and run AI agents in production, such as:
Every agent runs on the right model for the job across both voice and text channels, because Claude, Gemini, Grok, and ChatGPT are all selectable per agent with no platform change required to switch. Agents take action inside the systems customers already run, with one-click connectors to HubSpot, Slack, Stripe, Atlassian, Twilio, GitHub, Asana, Figma, Intercom, Dropbox, and ClickUp available out of the box, no integration project required. Businesses move off legacy phone-tree IVRs without rebuilding from scratch, because the Builder reads existing 8x8 auto-attendants and converts them into AI Studio call flows it can then improve. Agents are built and edited by speaking instead of typing, because the Builder transcribes push-to-talk dictation, cleans up filler and self-corrections, and drops the text in for review before anything is sent. Customers reach an agent right on the website by voice or text, can share an image when words are not enough, and get connected to a live agent the moment they need one, all from a single embeddable widget. “I’ve spent much of my life living abroad, and I know from experience how isolating a language barrier can be,” said Emil Ivov, VP of Product for Video Platform and Services at 8x8, Inc. “As an international student in France, even simple tasks like contacting a service provider or calling customer support could feel overwhelming. Those challenges still affect millions of people every day. With real-time translation in 8x8 AI Studio, we’re helping organizations communicate with customers in their preferred language, making support more accessible, more natural, and more human.”
Live voice translation in 8x8 AI Studio is available now for customers in early availability. For more information, visit docs.8x8.studio or contact your 8x8 account team.
8x8, Inc. is committed to the responsible use of artificial intelligence and the protection of customer data. The 8x8 Platform for CX is developed and operated in accordance with established security standards, applicable compliance frameworks, and internal governance policies, including privacy-by-design principles that safeguard personal data on the 8x8 platform. Full details are available at trust.8x8.com.
About 8x8, Inc.
8x8, Inc. (NASDAQ: EGHT) connects people and organizations through seamless communication on one of the industry's most integrated platforms for Customer Experience – combining Contact Center, Unified Communications, and CPaaS solutions. The 8x8® Platform for CX integrates AI to enable personalized customer journeys, drive operational excellence and insights, and facilitate team collaboration. As a business communications leader, the company helps customer experience and IT leaders around the world become the heartbeat of their organizations, empowering them to unlock the potential of every interaction. For additional information, visit www.8x8.com, or follow 8x8 on LinkedIn, X, and Facebook.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected capabilities and availability of real-time AI translation features on the 8x8 Platform for CX, anticipated customer benefits and deployment outcomes across 13 languages, the advantages of multi-LLM AI architecture and integrations with HubSpot, Slack, and Stripe, and expected enhancements to customer experience and contact center performance. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. For a discussion of these risks and uncertainties, please refer to 8x8's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 8x8 assumes no obligation to update any forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.
Copyright 2026 8x8, Inc. 8x8 and associated brand assets are trademarks of 8x8, Inc. All rights reserved.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260611971199/en/
Bank of Nova Scotia (BNS - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Bank of Nova Scotia basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Bank of Nova Scotia imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for Bank of Nova ScotiaThis bank is expected to earn $6.05 per share for the fiscal year ending October 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for Bank of Nova Scotia. Over the past three months, the Zacks Consensus Estimate for the company has increased 4.9%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Bank of Nova Scotia to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.
Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
Based in Toronto, Bank of Nova Scotia (BNS - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 4.04%. The bank is paying out a dividend of $0.79 per share at the moment, with a dividend yield of 4.13% compared to the Banks - Foreign industry's yield of 2.76% and the S&P 500's yield of 1.43%.
Looking at dividend growth, the company's current annualized dividend of $3.16 is up 2.9% from last year. Over the last 5 years, Bank of Nova Scotia has increased its dividend 3 times on a year-over-year basis for an average annual increase of 2.35%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Bank of Nova Scotia's current payout ratio is 60%, meaning it paid out 60% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, BNS expects solid earnings growth. The Zacks Consensus Estimate for 2026 is $6.05 per share, with earnings expected to increase 19.57% from the year ago period.
Investors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. However, not all companies offer a quarterly payout.
For instance, it's a rare occurrence when a tech start-up or big growth business offers its shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that BNS is not only an attractive dividend play, but also represents a compelling investment opportunity with a Zacks Rank of #2 (Buy).
On May 08, 2026, we delve into the DCF analysis for Bank of Nova Scotia BNS , a financial institution that has shown notable price performance over the past year, with a 63.7% increase. The stock's current price stands at $78.09, and its market capitalization is approximately $96.28 billion.
DCF Earnings-based intrinsic value of $48.88 vs price of $78.09 (margin of safety: -17.3%) DCF FCF-based intrinsic value of $95.53 vs price of $78.09 (second opinion: modestly undervalued) GF Score™ of 78/100 indicates a reliable assessment of the DCF inputs What Is BNS Worth? DCF Earnings-Based Model The DCF earnings-based model for Bank of Nova Scotia utilizes a two-stage approach to estimate intrinsic value. In the first stage, we project earnings growth over the next ten years at a rate of 1.4% per year. This growth is then discounted at a rate of 11%, which combines the risk-free rate and equity risk premium. The second stage accounts for a terminal growth rate of 4% for the subsequent ten years, also discounted at 11%. This methodology provides a structured way to evaluate the future cash flows of the company.
Parameter Value Current EPS (TTM, excl. non-recurring) $5.33 10-Year Growth Rate 1.4% 10-Year Treasury Rate 4.33% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% Below is a summary of the calculation for the intrinsic value:
Stage Description Value Growth Stage (Years 1-10) EPS growing at 1.4%, discounted at 11% $33.53 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $15.35 Intrinsic Value Growth + Terminal $48.88 The current price of $78.09 compared to the intrinsic value of $66.57 indicates that the stock is fair valued, with a margin of safety of -17.3%. It's important to note that GuruFocus uses EPS excluding non-recurring items, as research shows stock prices correlate more closely with earnings than with free cash flow. For further details, you can visit the BNS DCF Calculator.
What Does the Free Cash Flow DCF Say? The free cash flow (FCF) based intrinsic value for Bank of Nova Scotia is calculated at $95.53. This valuation contrasts with the earnings-based model, which suggests a lower intrinsic value of $48.88. The FCF model indicates that the stock is modestly undervalued, with an 18.3% margin of safety, providing a second opinion that supports the notion of potential upside in the stock price.
How Does GF Value™ Compare to the DCF Models? The GF Value™ for Bank of Nova Scotia is calculated at $58.84, offering a third perspective on the stock's valuation. GF Value™ is GuruFocus' proprietary measure derived from historical trading multiples, past business growth, and future performance estimates. When comparing all three models, the DCF earnings-based model suggests the stock is fairly valued, while the FCF model indicates it is modestly undervalued, and the GF Value™ suggests it is overvalued. For more information, visit the GF Value™ page.
What Does BNS's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns based on backtested data from 2006 to 2021. Below is a summary of BNS's GF Score™ metrics:
Metric Rating GF Score™ 78/100 Financial Strength 3/10 Profitability 6/10 Growth 7/10 Valuation 5/10 Momentum 10/10 With a predictability rank of 2/5 stars, this indicates that the DCF model may be less reliable for this stock. For more insights, visit the BNS stock page.
Key Assumptions and Limitations It is essential to recognize that DCF models are highly sensitive to the assumptions made regarding growth rates and discount rates. Stocks with low predictability ratings, such as BNS, tend to produce less reliable DCF estimates. Additionally, the terminal growth rate of 4% is a simplifying assumption that may not reflect future market conditions accurately.
What This Means for Investors In synthesizing the three valuation models—DCF earnings, DCF FCF, and GF Value™—the overall verdict for Bank of Nova Scotia is that the stock is fairly valued based on the earnings-based DCF analysis, while the FCF model suggests it is modestly undervalued. The GF Value™ indicates it is overvalued. This mixed assessment highlights the importance of considering multiple valuation perspectives. For the full DCF analysis, visit the BNS DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.
Frequently Asked Questions What is BNS's intrinsic value based on DCF?
Answer: earnings-based $66.57, FCF-based $95.53
Is BNS overvalued or undervalued?
Answer: The earnings-based DCF suggests fair valued, while the FCF model indicates modestly undervalued; GF Value™ suggests overvalued.
How reliable is the DCF model for BNS?
Answer: The predictability rank of 2/5 indicates that the DCF model may be less reliable for this stock.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Bank of Nova Scotia (BNS - Free Report) , which belongs to the Zacks Banks - Foreign industry.
This bank has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 4.37%.
For the last reported quarter, Bank of Nova Scotia came out with earnings of $1.48 per share versus the Zacks Consensus Estimate of $1.42 per share, representing a surprise of 4.23%. For the previous quarter, the company was expected to post earnings of $1.33 per share and it actually produced earnings of $1.39 per share, delivering a surprise of 4.51%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Bank of Nova Scotia. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Bank of Nova Scotia has an Earnings ESP of +2.32% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on May 27, 2026.
When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
On May 19, 2026, we delve into the DCF analysis for Bank of Nova Scotia BNS , a major player in the financial sector. The stock has shown a notable price performance, with a year-to-date increase of 7.2% and a remarkable 57.6% rise over the past year.
DCF Earnings-based intrinsic value of $48.88 vs current price of $77.26 (margin of safety: -16.1%) DCF FCF-based intrinsic value of $95.53 vs current price (second opinion: modestly undervalued with 19.1% margin of safety) GF Score™ of 71/100 indicates a moderate reliability of the DCF inputs What Is BNS Worth? DCF Earnings-Based Model The DCF earnings-based model for Bank of Nova Scotia employs a two-stage approach. In the first stage, we project earnings growth over the next ten years, followed by a terminal phase where growth stabilizes. The assumptions for this model are as follows:
Parameter Value Current EPS (TTM, excl. non-recurring) $5.33 10-Year Growth Rate 1.4% 10-Year Treasury Rate 4.33% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% In the growth phase (Years 1-10), the EPS is expected to grow at a rate of 1.4% per year and is discounted at a rate of 11%. The calculated value for this stage is $33.53 per share. In the terminal phase (Years 11-20), the growth rate slows to a terminal rate of 4%, also discounted at 11%, yielding a value of $15.35 per share.
Stage Description Value Growth Stage (Years 1-10) EPS growing at 1.4%, discounted at 11% $33.53 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $15.35 Intrinsic Value Growth + Terminal $48.88 Comparing the current price of $77.26 to the intrinsic value of $66.57 indicates that the stock is fairly valued, with a margin of safety of -16.1%. It is important to note that GuruFocus uses EPS excluding non-recurring items, as research shows stock prices correlate more closely with earnings than free cash flow. For further details, visit the BNS DCF Calculator.
What Does the Free Cash Flow DCF Say? The free cash flow (FCF)-based intrinsic value for Bank of Nova Scotia is calculated at $95.53. This value stands in contrast to the earnings-based intrinsic value of $48.88. The FCF model suggests that the stock is modestly undervalued, with a margin of safety of 19.1%, indicating a more favorable outlook compared to the earnings-based model.
How Does GF Value™ Compare to the DCF Models? The GF Value™ of Bank of Nova Scotia is assessed at $58.84, providing a third perspective on valuation. GF Value™ is GuruFocus' proprietary measure calculated from historical trading multiples, past business growth, and future performance estimates. When we compare all three models, the earnings-based DCF suggests fair valuation, the FCF-based model indicates modest undervaluation, and the GF Value™ suggests the stock is overvalued. For more insights, visit the GF Value™ page.
What Does BNS's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021).
Metric Rating GF Score™ 71/100 Financial Strength 2/10 Profitability 6/10 Growth 6/10 Valuation 5/10 Momentum 10/10 The predictability rank for BNS is 2/5 stars, indicating that the DCF model may be less reliable for this stock. For more information, visit the BNS stock page.
Key Assumptions and Limitations It is essential to recognize that DCF models are highly sensitive to growth rate and discount rate assumptions. Stocks with low predictability ratings, such as BNS, produce less reliable DCF estimates. The terminal growth rate of 4% is a simplifying assumption that may not reflect future economic conditions accurately.
What This Means for Investors In synthesizing the three valuation models—the DCF earnings-based model, the DCF FCF model, and the GF Value™—we find a mixed consensus. The earnings-based model suggests fair valuation, while the FCF model indicates modest undervaluation, and the GF Value™ suggests overvaluation. Overall, the stock appears to be fairly valued. For the full DCF analysis, visit the BNS DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.
Frequently Asked Questions What is BNS's intrinsic value based on DCF?
Answer: earnings-based $66.57, FCF-based $95.53
Is BNS overvalued or undervalued?
Answer: The DCF earnings model suggests fair valuation, while the FCF model indicates modest undervaluation.
How reliable is the DCF model for BNS?
Answer: The predictability rank is 2/5, indicating less reliability in the DCF estimates.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
Based in Toronto, Bank of Nova Scotia (BNS - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 7.79%. The bank is currently shelling out a dividend of $0.79 per share, with a dividend yield of 3.98%. This compares to the Banks - Foreign industry's yield of 2.8% and the S&P 500's yield of 1.42%.
Looking at dividend growth, the company's current annualized dividend of $3.16 is up 2.9% from last year. Over the last 5 years, Bank of Nova Scotia has increased its dividend 3 times on a year-over-year basis for an average annual increase of 2.35%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Bank of Nova Scotia's current payout ratio is 60%, meaning it paid out 60% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, BNS expects solid earnings growth. The Zacks Consensus Estimate for 2026 is $6.03 per share, with earnings expected to increase 19.17% from the year ago period.
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. But, not every company offers a quarterly payout.
For instance, it's a rare occurrence when a tech start-up or big growth business offers its shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, BNS is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).
TORONTO, May 26, 2026 (GLOBE NEWSWIRE) -- Beginning today, Canadians can earn, redeem and save with Scene+, Scotiabank, and Tangerine at over 1,400 Shell Canada stations (Shell) from coast to coast. With the addition of fuel, Scene+ now brings one of Canadians’ most frequent purchases into its growing rewards ecosystem - giving more than 15 million Scene+ members new ways to earn and redeem on the purchases that shape their daily lives.
With Shell joining the program nationwide, Scene+ now spans more of the categories Canadians use most often, from groceries and fuel to dining, entertainment, banking, home improvement, travel and online shopping. Members can also combine Scene+ rewards with accelerated earn rates from eligible Scotiabank and Tangerine cards, Shell Go+ perks, and instant fuel savings at participating Shell locations.
“Our expansion to Shell locations across the country is a milestone moment for Scene+ and our members,” said Tracey Pearce, President, Scene+. “The loyalty landscape is dynamic, and we are continuing to lead by staying relentlessly focused on what our members tell us they want. With Shell, we are bringing rewards into one of Canada’s most frequent spending categories, making every stop an opportunity to unlock more value.”
The national rollout follows a successful launch in Alberta earlier this year that helped inform the broader expansion and demonstrated member interest in instant savings through a competitive fuel offer of up to 10 cents per litre in value for Scotiabank and Tangerine cardholders*, along with additional perks through the Shell App.
“Building on our Alberta launch earlier this year, and as part of our planned rollout, Scene+ is now available at Shell stations across Canada, making it easier for customers to earn and redeem rewards as part of their everyday routine,” said Kent Martin, General Manager, Shell Canada Mobility and Convenience. “By bringing Scene+ to more than 1,400 Shell-branded locations nationwide, we’re focused on adding practical value and convenience—whether customers are fueling up or stopping by for everyday needs.”
At the core of the Scene+ program today is a simple value equation: for most redemptions, 1,000 Scene+ points equals $10 in value.** With Shell now part of the program, members can earn and redeem across even more purchases, including eligible fuel, car wash, and in-store convenience purchases.
“Our clients want rewards that fit seamlessly into their everyday lives and deliver value faster,” said Simona Salter, Executive Vice President, Cards, Loyalty, Payments and Client Experience at Scotiabank. “With accelerated earning and faster redemption, Scotiabank’s payment cards turn everyday spending – including fuel – into meaningful moments of value, reinforcing our role at the centre of our clients’ lives.”
“Tangerine clients are looking for more intuitive ways to get more from their everyday spending,” said Gaurav Singh, Senior Vice President, Client Solutions at Tangerine. “With fuel now part of the Scene+ program, they can earn and redeem in more places they already go — turning routine purchases into real value over time.”
By bringing fuel into Scene+, Scotiabank, Tangerine, and Shell are helping Canadians make rewards integrated into everyday life.
About Scene+
Scene+ is a leading loyalty program, intentionally curated to meet the needs of its members by making everyday more rewarding. The program is co-owned by Scotiabank, Empire Company Limited and Cineplex Inc., and offers its more than 15 million members the opportunity to earn points in a wide variety of ways, in a manner that suits their buying habits and lifestyle. Through its relationship with Scotiabank and Tangerine, Scene+ members have an opportunity to fully unlock the value of Scene+ membership and accelerate their points-earning potential with credit or debit cards that give members access to a whole new level of rewards and value. Participating Empire Company Limited’s family of brands including Sobeys, IGA, Safeway, Foodland, FreshCo, and Voilà; participating Cineplex Inc. venues include Cineplex Theatres, The Rec Room, and Playdium. For the full list of partners participating in the program and for more info, go to sceneplus.ca.
About Shell
Shell is a global group of energy companies employing around 96,000 people across more than 70 countries. We have activities ranging from oil and gas exploration and production to the marketing of fuels and lubricants, and research and development. Shell Canada, a subsidiary of Shell plc, has operated in Canada for over 100 years and currently employs more than 3,000 people nationwide.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at January 31, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.
About Tangerine Bank
Tangerine is one of Canada’s leading digital banks, empowering over two million clients with the momentum to move their financial lives forward. From everyday saving, spending, borrowing, and wealth-building, Tangerine’s products are designed to help meet the unique needs of Canadians. Tangerine’s commitment to putting clients first has earned the bank recognition as the #1 Bank in Canada by Forbes in 2025 and 2026*** and the most awarded midsize Bank by the J.D. Power Canada Retail Banking Satisfaction Study for 14 consecutive years as of 2025****. Tangerine Bank was launched as ING DIRECT Canada in 1997. In 2012, Tangerine was acquired by Scotiabank and operates independently as a wholly owned subsidiary. Tangerine is a registered trademark of The Bank of Nova Scotia, used under license. For more information, visit www.tangerine.ca or connect with us on social on Instagram, LinkedIn, or TikTok.
* At participating Shell locations only. Certain assumptions, conditions and limits apply. Actual value may be lower. Visit FuelAndSave.com for full details.
** Based on standard redemptions; lower values may apply to select gift cards and certain credit redemptions. For more information visit www.sceneplus.ca/rewards.
*** Visit forbes.com/lists/worlds-best-banks/ for more info about the award methodology and banks included in the ranking.
****Tangerine has won more awards than any other brand among midsize banks in the J.D. Power Canada Retail Banking Satisfaction Studies from 2006-2025. Visit jdpower.com/awards for more information.
All amounts are in Canadian dollars and are based on our unaudited Interim Condensed Consolidated Financial Statements for the quarter ended April 30, 2026 and related notes prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), unless otherwise noted. Our complete Second Quarter 2026 Report to Shareholders, including our unaudited interim financial statements for the period ended April 30, 2026, can also be found on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the SEC's website at www.sec.gov. Supplementary Financial Information is also available, together with the Second Quarter 2026 Report to Shareholders on the Investor Relations page at www.scotiabank.com.
Second Quarter 2026 Highlights on a Reported Basis
(versus Q2 2025)
Second Quarter 2026 Highlights on an Adjusted Basis(1)
(versus Q2 2025)
Net income of $2,632 million, compared to $2,032 million Earnings per share (diluted) of $2.00, compared to $1.48 Return on equity(2) (ROE) of 13.1%, compared to 10.1% Net income of $2,652 million, compared to $2,072 million Earnings per share (diluted) of $2.02, compared to $1.52 Return on equity of 13.2%, compared to 10.4% , /CNW/ - The Bank of Nova Scotia ("Scotiabank") (TSX: BNS) (NYSE: BNS) reported second quarter net income of $2,632 million compared to $2,032 million in the same period last year. Diluted earnings per share (EPS) were $2.00, compared to $1.48 in the same period a year ago.
Adjusted net income(1) for the second quarter was $2,652 million and adjusted diluted EPS(1) was $2.02, up from $1.52 last year. Adjusted return on equity(1) was 13.2% compared to 10.4% a year ago.
"The Bank delivered another strong quarter as we continue to execute on our strategy, with strong revenue growth coupled with expanding margins and another quarter of positive operating leverage," said Scott Thomson, President and CEO of Scotiabank. "The Bank remains on track to achieve its financial objectives for fiscal 2026 and its 14%+ ROE objective in fiscal 2027. Our focus on evolving our business mix drove strong fee income and wealth management revenues, along with sequential Canadian commercial and small business loan growth."
Canadian Banking generated earnings of $935 million, up 53% compared to the prior year, driven by double-digit pre-tax, pre-provision earnings(3) growth and lower performing provision for credit losses. The business grew day-to-day and savings deposits and delivered another quarter of solid positive operating leverage, in line with its strategic objectives.
International Banking generated earnings of $736 million, up 3% year-over-year, driven by continued margin expansion and positive operating leverage as the business maintains its focus on expense discipline. ROE remained stable at 16%.
Global Wealth Management delivered earnings of $476 million, up 19% year-over year driven by strong revenue growth from higher mutual fund fees, brokerage revenues, and net interest income. The business continued to deliver strong retail mutual fund sales through our branches, while assets under management(2) grew 18% year-over-year to $450 billion.
Global Banking and Markets reported earnings of $457 million, up 11% year-over-year. Results were driven by strong performance in our capital markets business, partly offset by higher expenses to support future business growth.
The Bank reported a Common Equity Tier 1 (CET1) capital ratio(4) of 13.3% and declared a dividend of $1.14, representing a 4% increase.
______________________________________
(1)
Refer to Non-GAAP Measures section starting on page 5.
(2)
Refer to page 57 of the Management's Discussion & Analysis in the Bank's Second Quarter 2026 Report to Shareholders, available on www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto.
(3)
Pre-tax, pre-provision (PTPP) earnings are calculated as revenue net of non-interest expenses. This is a non-GAAP measure. PTPP earnings do not have a standardized meaning under GAAP and may not be comparable to similar measures disclosed by other financial institutions. The Bank uses PTPP earnings to assess its ability to generate earnings growth excluding the impact of credit losses and income taxes. The Bank believes that certain non-GAAP measures provide readers with a better understanding of how management assesses performance.
(4)
The regulatory capital ratios are based on Basel III requirements as determined in accordance with OSFI Guideline - Capital Adequacy Requirements.
Financial Highlights
Reported Results
For the three months ended
For the six months ended
April 30
January 31
April 30
April 30
April 30
(Unaudited) ($ millions)
2026
2026
2025
2026
2025
Operating results
Net interest income
$
5,521
$
5,582
$
5,270
$
11,103
$
10,443
Non-interest income
4,316
4,064
3,810
8,380
8,009
Total revenue
$
9,837
$
9,646
$
9,080
$
19,483
$
18,452
Provision for credit losses
1,217
1,176
1,398
2,393
2,560
Non-interest expenses
5,189
5,299
5,110
10,488
11,601
Income tax expense
799
872
540
1,671
1,266
Net income
$
2,632
$
2,299
$
2,032
$
4,931
$
3,025
Net income attributable to non-controlling interests in subsidiaries
37
12
56
49
(98)
Net income attributable to equity holders of the Bank
$
2,595
$
2,287
$
1,976
$
4,882
$
3,123
Preferred shareholders and other equity instrument holders
127
132
135
259
257
Common shareholders
$
2,468
$
2,155
$
1,841
$
4,623
$
2,866
Earnings per common share (in dollars)
Basic
$
2.01
$
1.75
$
1.48
$
3.75
$
2.30
Diluted
$
2.00
$
1.73
$
1.48
$
3.73
$
2.15
Business Segment Review
Canadian Banking
Q2 2026 vs Q2 2025
Net income attributable to equity holders was $935 million compared to $613 million, an increase of 53%. The increase was driven primarily by higher revenues and lower provision for credit losses on performing loans, partly offset by higher non-interest expenses.
Q2 2026 vs Q1 2026
Net income attributable to equity holders was $935 million compared to $960 million, a decrease of 3%. The decrease was driven primarily by lower net interest income impacted by three fewer days in the quarter.
Year-to-date Q2 2026 vs Year-to-date Q2 2025
Net income attributable to equity holders was $1,895 million compared to $1,526 million, an increase of 24%. The increase was driven primarily by higher revenues and lower provision for credit losses on performing loans, partly offset by higher non-interest expenses.
International Banking
Q2 2026 vs Q2 2025
Net income attributable to equity holders was $701 million compared to $676 million, an increase of $25 million or 4%. The increase was driven primarily by lower non-interest expenses, lower income taxes and the positive impact of foreign currency translation. This was partly offset by lower net interest income, lower non-interest income and higher provision for credit losses.
Q2 2026 vs Q1 2026
Net income attributable to equity holders was $701 million compared to $717 million, a decrease of $16 million or 2%. The decrease was driven primarily by higher provision for credit losses, lower net interest income and lower non-interest income. This was partly offset by lower non-interest expenses and lower income taxes.
Year-to-date Q2 2026 vs Year-to-date Q2 2025
Net income attributable to equity holders was $1,418 million compared to $1,327 million, an increase of $91 million or 7%. The increase was driven primarily by lower non-interest expenses, lower provision for credit losses and the positive impact of foreign currency translation. This was partly offset by lower net interest income and lower non-interest income.
Financial Performance on a Constant Dollar Basis
The discussion below on the results of operations is on a constant dollar basis. Under the constant dollar basis, prior period amounts are recalculated using current period average foreign currency rates, which is a non-GAAP financial measure (refer to Non-GAAP Measures starting on page 5). The Bank believes that constant dollar is useful for readers in assessing ongoing business performance without the impact of foreign currency translation and is used by management to assess the performance of the business segment. Ratios are on a reported basis.
Q2 2026 vs Q2 2025
Net income attributable to equity holders was $701 million compared to $691 million, an increase of $10 million or 1%. The increase was driven primarily by lower non-interest expenses and lower income taxes. This was partly offset by lower net interest income, lower non-interest income and higher provision for credit losses.
Q2 2026 vs Q1 2026
Net income attributable to equity holders was $701 million compared to $718 million, a decrease of $17 million or 2%. The decrease was driven primarily by lower net-interest income, lower non-interest income and higher provision for credit losses. This was partly offset by lower non-interest expenses and lower income taxes.
Year-to-date Q2 2026 vs Year-to-date Q2 2025
Net income attributable to equity holders was $1,418 million compared to $1,373 million, an increase of $45 million or 3%. The increase was driven primarily by lower non-interest expenses and lower provision for credit losses, partly offset by lower net interest income and lower non-interest income.
Global Wealth Management
Q2 2026 vs Q2 2025
Net income attributable to equity holders was $474 million compared to $399 million, an increase of 19%. The increase was driven primarily by higher mutual fund fees, brokerage revenues and net interest income across the Canadian wealth business. This was partly offset by higher volume-related non-interest expenses.
Q2 2026 vs Q1 2026
Net income attributable to equity holders was $474 million compared to $481 million, a decrease of 2%. The decrease was driven primarily by lower mutual fund fees and brokerage revenues due to the impact of three fewer days in the quarter, partly offset by lower non-interest expenses.
Year-to-date Q2 2026 vs Year-to-date Q2 2025
Net income attributable to equity holders was $955 million compared to $806 million, an increase of 18%. The increase was driven primarily by higher mutual fund fees, brokerage revenues, and net interest income reflecting strong volume growth in deposits and loans as well as improved margins, partly offset by higher volume-related non-interest expenses.
Global Banking and Markets
Q2 2026 vs Q2 2025
Net income attributable to equity holders was $457 million compared to $413 million, an increase of $44 million or 11%. The increase was driven primarily by higher non-interest income and higher net interest income. This was partly offset by higher non-interest expenses and the negative impact of foreign currency translation.
Q2 2026 vs Q1 2026
Net income attributable to equity holders was $457 million compared to $545 million, a decrease of $88 million or 16%. The decrease was driven primarily by lower non-interest income and lower net interest income, partly offset by lower non-interest expenses and lower provision for credit losses.
Year-to-date Q2 2026 vs Year-to-date Q2 2025
Net income attributable to equity holders was $1,002 million compared to $930 million, an increase of $72 million or 8%. The increase was driven primarily by higher non-interest income, higher net interest income and lower income tax expense. This was partly offset by higher non-interest expenses, higher provision for credit losses, and the negative impact of foreign currency translation.
Other
Q2 2026 vs Q2 2025
Net income attributable to equity holders was $28 million compared to a loss of $125 million, an increase of $153 million. Included in prior year non-interest expenses is an impairment loss of $26 million related to the announced sale of the banking operations in Colombia, Costa Rica and Panama. Adjusted net income attributable to equity holders was $35 million compared to a loss of $80 million, an increase of $115 million. The increase was due primarily to higher non-interest income from investment gains and higher revenue from associated corporations primarily related to the KeyCorp investment, as well as higher net interest income due to lower funding costs.
Q2 2026 vs Q1 2026
Net income attributable to equity holders was $28 million compared to a loss of $416 million, an increase of $444 million. Included in prior quarter non-interest income is a loss of $423 million recognized upon the completion of the sale of the banking operations in Colombia, Costa Rica and Panama. Adjusted net income attributable to equity holders was $35 million compared to a loss of $41 million, an increase of $76 million. The increase was due primarily to higher non-interest income from investment gains and higher net interest income due to lower funding costs, partly offset by higher non-interest expenses.
Year-to-date Q2 2026 vs Year-to-date Q2 2025
Net loss attributable to equity holders was $388 million compared to a loss of $1,466 million. Included in current year non-interest income is a loss of $423 million recognized upon the completion of the sale of the banking operations in Colombia, Costa Rica and Panama. Included in prior year non-interest expenses is an impairment loss of $1,388 million related to the announced sale of these operations. Adjusted net loss attributable to equity holders was $6 million compared to a loss of $257 million last year. The lower loss was driven primarily by higher net interest income due to lower funding costs, higher non-interest income from investment gains and higher revenue from associated corporations, primarily related to the KeyCorp investment. This was partly offset by higher non-interest expenses.
Credit risk
Provision for credit losses
Q2 2026 vs Q2 2025
The provision for credit losses was $1,217 million compared to $1,398 million, a decrease of $181 million. The provision for credit losses ratio decreased by nine basis point to 66 basis points.
The provision for credit losses on performing loans was $88 million compared to $346 million, a decrease of $258 million. The provision this quarter was due primarily to the impact of the unfavourable macroeconomic outlook impacting the Canadian Banking portfolios, as well as credit migration in the International commercial portfolio. Last year, the Bank substantially increased its provision for credit losses on performing loans to reflect the uncertainty related to U.S. tariffs due to the deterioration in macroeconomic indicators, mainly impacting the Canadian retail and commercial portfolios.
The provision for credit losses on impaired loans was $1,129 million compared to $1,052 million, an increase of $77 million. The provision for credit losses ratio on impaired loans was 61 basis points, an increase of four basis points. The increase was due primarily to higher formations in Canadian Banking and in the International corporate portfolios, mainly related to one account.
Q2 2026 vs Q1 2026
The provision for credit losses was $1,217 million compared to $1,176 million, an increase of $41 million. The provision for credit losses ratio increased by five basis points to 66 basis points.
The provision for credit losses on performing loans was $88 million compared to $73 million, an increase of $15 million. The provision this quarter was due primarily to the unfavourable macroeconomic outlook impacting the Canadian Banking portfolios, as well as credit migration in the International commercial portfolio.
The provision for credit losses on impaired loans was $1,129 million compared to $1,103 million, an increase of $26 million. The provision for credit losses ratio on impaired loans was 61 basis points, an increase of three basis points. The increase was due primarily to higher formations in the International corporate portfolio.
Year-to-date Q2 2026 vs Year-to-date Q2 2025
The provision for credit losses was $2,393 million compared to $2,560 million. The provision for credit losses ratio decreased by five basis points to 63 basis points.
Provision for credit losses on performing loans was $161 million, compared to $444 million. The provision this period was driven by credit migration in the Canadian and International portfolios, as well as retail portfolio growth mainly in Chile and Mexico. This was partly offset by a more favourable macroeconomic outlook impacting the International commercial portfolio. The prior period reflected the impact of the uncertainty related to U.S. tariffs, mainly impacting Canadian Banking.
The provision for credit losses on impaired loans was $2,232 million compared to $2,116 million, an increase of $116 million. The provision for credit losses ratio on impaired loans was 59 basis points, an increase of three basis points. The increase in provision this year was due to higher formations in Canadian Banking and corporate portfolios.
Allowance for credit losses
The total allowance for credit losses as at April 30, 2026 was $7,344 million compared to $7,185 million in the prior quarter. The allowance for credit losses ratio was 96 basis points, an increase of two basis points. The allowance for credit losses for loans was $7,150 million compared to $7,002 million in the prior quarter, an increase of $148 million. The increase in allowance for impaired loans was due primarily to higher provisions in the International corporate portfolio, due mainly to one account. This was partly offset by the impact of foreign currency translation of $65 million.
The allowance for credit losses on performing loans was higher at $4,742 million compared to $4,715 million last quarter. The allowance for performing loans ratio was 64 basis points, unchanged from last quarter. The increase was due primarily to the unfavourable macroeconomic outlook in Canadian Banking portfolios, as well as credit migration in the International commercial portfolio. This was partly offset by the impact of foreign currency translation of $38 million.
The allowance for credit losses on impaired loans was higher at $2,408 million compared to $2,287 million last quarter. The allowance for impaired loans ratio was 32 basis points, an increase of two basis points. The increase was due primarily to higher provisions in the International corporate portfolio, due mainly to one account. This was partly offset by the impact of foreign currency translation of $27 million.
Impaired loans
Gross impaired loans as at April 30, 2026 were $7,608 million compared to $7,248 million last quarter. The increase was due primarily to new formations in the International corporate portfolio, due mainly to one account, partly offset by the impact of foreign currency translation. The gross impaired loan ratio increased four basis points to 99 basis points.
Net impaired loans in Canadian Banking were $1,860 million, an increase of $100 million from last quarter, due primarily to higher commercial formations. Net impaired loans in International Banking were $3,079 million, an increase of $157 million from last quarter, due mainly to one account. Net impaired loans in Global Banking and Markets were $187 million, a decrease of $34 million from last quarter due to write-offs. Net impaired loans in Global Wealth Management were $74 million, an increase of $16 million from last quarter. Net impaired loans as a percentage of loans and acceptances increased three basis points to 0.68%.
Capital Ratios
The Bank's CET1 capital ratio(1) was 13.3% as at April 30, 2026, unchanged from the prior quarter. The favourable impact of earnings less dividends and organic reduction in RWA were largely offset by RWA increases from model and methodology updates, unfavourable changes in accumulated other comprehensive income, and share repurchases.
The Bank's Tier 1 capital(1) and Total capital ratios(1) were 15.4% and 17% respectively, as at April 30, 2026, unchanged from the prior quarter, as both Tier 1 and Tier 2 capital, and RWA were in line with the prior quarter.
The Leverage ratio(1) was 4.3% as at April 30, 2026, a decrease of 10 basis points from prior quarter, primarily from higher leverage exposures.
As at April 30, 2026, the CET1, Tier 1, Total capital, and Leverage ratios were well above OSFI's minimum capital ratios. The TLAC(1) and TLAC Leverage ratios(1) were 28.6% and 8% respectively, well above OSFI's minimum requirements.
______________________________________
(1)
The regulatory ratios and measures are calculated in accordance with the Office of the Superintendent of Financial Institutions (OSFI) Guidelines on Capital Adequacy Requirements, Total Loss Absorbing Capacity and Leverage Requirements.
Non-GAAP Measures
The Bank uses a number of financial measures and ratios to assess its performance, as well as the performance of its operating segments. Some of these financial measures and ratios are presented on a non-GAAP basis and are not calculated in accordance with Generally Accepted Accounting Principles (GAAP), which are based on International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), are not defined by GAAP, do not have standardized meanings and therefore might not be comparable to similar financial measures and ratios disclosed by other issuers. The Bank believes that non-GAAP measures and ratios are useful as they provide readers with a better understanding of how management assesses performance. These non-GAAP measures and ratios are used throughout this report and defined below.
Adjusted results and diluted earnings per share
The following tables present a reconciliation of GAAP reported financial results to non-GAAP adjusted financial results. Management considers both reported and adjusted results and measures useful in assessing underlying ongoing business performance. Adjusted results and measures remove certain specified items from revenue, non-interest expenses, income taxes and non-controlling interests. Presenting results on both a reported basis and adjusted basis allows readers to assess the impact of certain items on results for the periods presented, and to better assess results and trends excluding those items that may not be reflective of ongoing business performance.
Reconciliation of reported and adjusted results
For the three months ended
For the six months ended
April 30
January 31
April 30
April 30
April 30
($ millions)
2026
2026
2025
2026
2025
Reported Results
Net interest income
$
5,521
$
5,582
$
5,270
$
11,103
$
10,443
Non-interest income
4,316
4,064
3,810
8,380
8,009
Total revenue
9,837
9,646
9,080
19,483
18,452
Provision for credit losses
1,217
1,176
1,398
2,393
2,560
Non-interest expenses
5,189
5,299
5,110
10,488
11,601
Income before taxes
3,431
3,171
2,572
6,602
4,291
Income tax expense
799
872
540
1,671
1,266
Net income
$
2,632
$
2,299
$
2,032
$
4,931
$
3,025
Net income attributable to non-controlling interests in subsidiaries (NCI)
37
12
56
49
(98)
Net income attributable to equity holders
2,595
2,287
1,976
4,882
3,123
Net income attributable to preferred shareholders and other equity
instrument holders
127
132
135
259
257
Net income attributable to common shareholders
$
2,468
$
2,155
$
1,841
$
4,623
$
2,866
Adjustments
Adjusting items impacting non-interest income and total revenue (Pre-tax)
(a) Divestitures and wind-down of operations
$
–
$
423
$
9
$
423
$
9
(b) Amortization of acquisition-related intangible assets
8
8
9
16
9
Total non-interest income and total revenue adjusting items (Pre-tax)
(b) Amortization of acquisition-related intangible assets
18
15
17
33
35
Total non-interest expense adjusting items (Pre-tax)
18
26
43
44
1,423
Total impact of adjusting items on net income before taxes
26
457
61
483
1,441
Impact of adjusting items on income tax expense
(a) Divestitures and wind-down of operations
–
(57)
(15)
(57)
(22)
(b) Amortization of acquisition-related intangible assets
(6)
(4)
(6)
(10)
(10)
Total impact of adjusting items on income tax expense
(6)
(61)
(21)
(67)
(32)
Total impact of adjusting items on net income
$
20
$
396
$
40
$
416
$
1,409
Impact of adjusting items on NCI
–
(10)
16
(10)
(175)
Total impact of adjusting items on net income attributable to equity
holders
$
20
$
386
$
56
$
406
$
1,234
Adjusted Results
Net interest income
$
5,521
$
5,582
$
5,270
$
11,103
$
10,443
Non-interest income
4,324
4,495
3,828
8,819
8,027
Total revenue
9,845
10,077
9,098
19,922
18,470
Provision for credit losses
1,217
1,176
1,398
2,393
2,560
Non-interest expenses
5,171
5,273
5,067
10,444
10,178
Income before taxes
3,457
3,628
2,633
7,085
5,732
Income tax expense
805
933
561
1,738
1,298
Net income
$
2,652
$
2,695
$
2,072
$
5,347
$
4,434
Net income attributable to NCI
37
22
40
59
77
Net income attributable to equity holders
2,615
2,673
2,032
5,288
4,357
Net income attributable to preferred shareholders and other equity
instrument holders
127
132
135
259
257
Net income attributable to common shareholders
$
2,488
$
2,541
$
1,897
$
5,029
$
4,100
The Bank's quarterly financial results were adjusted for the following items. These amounts were recorded in the Other operating segment, unless otherwise noted.
a) Divestitures and wind-down of operations
In Q1 2026, the Bank recognized a loss of $434 million ($377 million after-tax) upon the completion of the sale of its banking operations in Colombia, Costa Rica and Panama. The loss primarily represents the release of cumulative foreign currency translation losses, inclusive of hedges. In the prior fiscal year, the Bank recognized a total impairment loss of $1,422 million in non-interest expense and a credit of $45 million in non-interest income (collectively $1,342 million after-tax), of which $1,362 million ($1,355 million after-tax) was recognized in Q1 2025, as the operations that were a part of this transaction were designated as held for sale. The changes subsequent to Q1 2025 represented changes in the carrying value of net assets being sold and fair value of shares received less costs to sell, as well as changes in foreign currency. For further details, please refer to Note 19 of the condensed interim consolidated financial statements in the Q2 2026 Quarterly Report to Shareholders.
In Q2 2025, the Bank completed the sale of CrediScotia Financiera S.A. (CrediScotia), a wholly-owned consumer finance subsidiary in Peru, to Banco Santander S.A. (Espana). The Bank recognized an additional loss of $9 million in non-interest income – other upon closing.
b) Amortization of acquisition-related intangible assets
These costs relate to the amortization of intangible assets recognized upon the acquisition of businesses, excluding software. The costs are recorded in non-interest expenses – depreciation and amortization for the Canadian Banking, International Banking and Global Wealth Management operating segments, and non-interest income – net income from investments in associated corporations for the Other operating segment.
Reconciliation of reported and adjusted diluted earnings per share
For the three months ended
For the six months ended
April 30
January 31
April 30
April 30
April 30
($ millions)
2026
2026
2025
2026
2025
Reported Results
Net income attributable to common shareholders
$
2,468
$
2,155
$
1,841
$
4,623
$
2,866
Dilutive impact of share-based payment options and others
–
(9)
–
(9)
(180)
Net income attributable to common shareholders (diluted)
$
2,468
$
2,146
$
1,841
$
4,614
$
2,686
Weighted average number of diluted common shares outstanding (millions)
1,232
1,238
1,246
1,236
1,250
Diluted earnings per common share (in dollars)
$
2.00
$
1.73
$
1.48
$
3.73
$
2.15
Adjusted Results
Net income attributable to common shareholders
$
2,468
$
2,155
$
1,841
$
4,623
$
2,866
Impact of adjusting items on net income attributable to common
shareholders(1)
20
386
56
406
1,234
Adjusted net income attributable to common shareholders
$
2,488
$
2,541
$
1,897
$
5,029
$
4,100
Dilutive impact of share-based payment options and others
–
1
1
1
(6)
Adjusted net income attributable to common shareholders (diluted)
$
2,488
$
2,542
$
1,898
$
5,030
$
4,094
Weighted average number of diluted common shares outstanding (millions)
1,232
1,238
1,250
1,236
1,250
Adjusted diluted earnings per common share (in dollars)
$
2.02
$
2.05
$
1.52
$
4.07
$
3.28
Impact of adjustments on diluted earnings per share (in dollars)
$
0.02
$
0.32
$
0.04
$
0.34
$
1.13
(1) Refer to table on page 6.
Reconciliation of reported and adjusted results by business line
For the three months ended April 30, 2026(1)
Global
Global
Canadian
International
Wealth
Banking and
($ millions)
Banking
Banking
Management
Markets
Other
Total
Reported net income (loss)
$
935
$
736
$
476
$
457
$
28
$
2,632
Net income attributable to non-controlling interests in
subsidiaries (NCI)
–
35
2
–
–
37
Reported net income attributable to equity holders
935
701
474
457
28
2,595
Reported net income attributable to preferred
shareholders and other equity instrument holders
–
–
–
–
127
127
Reported net income attributable to common shareholders
$
935
$
701
$
474
$
457
$
(99)
$
2,468
Adjustments:
Adjusting items impacting non-interest income and
total revenue (Pre-tax)
Amortization of acquisition-related intangible assets
Amortization of acquisition-related intangible assets
2
15
18
–
–
35
Total non-interest expenses adjustments (Pre-tax)
2
15
18
–
1,388
1,423
Total impact of adjusting items on net income before taxes
2
15
18
–
1,406
1,441
Impact of adjusting items on income tax expense
(1)
(4)
(5)
–
(22)
(32)
Total impact of adjusting items on net income
1
11
13
–
1,384
1,409
Impact of adjusting items on NCI
–
–
–
–
(175)
(175)
Total impact of adjusting items on net income attributable
to equity holders
1
11
13
–
1,209
1,234
Adjusted net income (loss)
$
1,527
$
1,411
$
823
$
929
$
(256)
$
4,434
Adjusted net income attributable to equity holders
$
1,527
$
1,338
$
819
$
930
$
(257)
$
4,357
Adjusted net income attributable to common shareholders
$
1,527
$
1,338
$
819
$
930
$
(514)
$
4,100
(1) Refer to Business Segment Review section of the Bank's Q2 2026 Quarterly Report to Shareholders.
Reconciliation of International Banking's reported and constant dollar results
International Banking business segment results are analyzed on a constant dollar basis which is a non-GAAP measure. Under the constant dollar basis, prior period amounts are recalculated using current period average foreign currency rates. The following table presents the reconciliation between reported and constant dollar results for International Banking for prior periods. The Bank believes that constant dollar is useful for readers to understand business performance without the impact of foreign currency translation and is used by management to assess the performance of the business segment.
For the three months ended
For the six months ended
($ millions)
January 31, 2026
April 30, 2025
April 30, 2025
Foreign
Constant
Foreign
Constant
Foreign
Constant
Reported
exchange
dollar
Reported
exchange
dollar
Reported
exchange
dollar
Net interest income
$
2,146
$
(7)
$
2,153
$
2,179
$
(83)
$
2,262
$
4,348
$
(193)
$
4,541
Non-interest income
815
–
815
780
(27)
807
1,641
(76)
1,717
Total revenue
2,961
(7)
2,968
2,959
(110)
3,069
5,989
(269)
6,258
Provision for credit losses
536
(3)
539
550
(29)
579
1,152
(74)
1,226
Non-interest expenses
1,460
(4)
1,464
1,523
(61)
1,584
3,076
(140)
3,216
Income before taxes
965
–
965
886
(20)
906
1,761
(55)
1,816
Income tax expense
228
1
227
172
(5)
177
361
(12)
373
Net income
$
737
$
(1)
$
738
$
714
$
(15)
$
729
$
1,400
$
(43)
$
1,443
Net income attributable to non-controlling
interests in subsidiaries (NCI)
$
20
$
–
$
20
$
38
$
–
$
38
$
73
$
3
$
70
Net income attributable to equity holders of the Bank
$
717
$
(1)
$
718
$
676
$
(15)
$
691
$
1,327
$
(46)
$
1,373
Other measures
Average assets ($ billions)
$
219
$
–
$
219
$
229
$
(6)
$
235
$
229
$
(7)
$
236
Average liabilities ($ billions)
$
172
$
–
$
172
$
177
$
(7)
$
184
$
176
$
(7)
$
183
Return on equity
Return on equity is a profitability measure that presents the net income attributable to common shareholders (annualized) as a percentage of average common shareholders' equity.
Adjusted return on equity is a non-GAAP ratio which represents adjusted net income attributable to common shareholders (annualized) as a percentage of average common shareholders' equity.
Adjusted return on equity for the operating segments is calculated as a ratio of adjusted net income attributable to common shareholders of the operating segment and the capital attributed. This is a non-GAAP ratio.
For the three months ended April 30, 2026
Global
Global
Canadian
International
Wealth
Banking and
($ millions)
Banking
Banking
Management
Markets
Other
Total
Reported
Net income attributable to common shareholders
$
935
$
701
$
474
$
457
$
(99)
$
2,468
Total average common equity(1)
21,515
17,987
10,840
15,179
11,915
77,436
Return on equity
17.8 %
16.0 %
17.9 %
12.4 %
nm(2)
13.1 %
Adjusted(3)
Net income attributable to common shareholders
$
935
$
708
$
480
$
457
$
(92)
$
2,488
Return on equity
17.8 %
16.1 %
18.2 %
12.4 %
nm(2)
13.2 %
(1) Average amounts calculated using methods intended to approximate the daily average balances for the period.
(2) Not meaningful.
(3) Refer to Table on page 6.
For the three months ended January 31, 2026
For the three months ended April 30, 2025
Global
Global
Global
Global
Canadian
International
Wealth
Banking and
Canadian
International
Wealth
Banking and
($ millions)
Banking
Banking
Management
Markets
Other
Total
Banking
Banking
Management
Markets
Other
Total
Reported
Net income
attributable
to common
shareholders
$
960
$
717
$
481
$
545
$
(548)
$
2,155
$
613
$
676
$
399
$
413
$
(260)
$
1,841
Total average
common
equity(1)
21,090
17,836
10,810
15,121
12,431
77,288
20,893
18,087
10,332
14,970
10,343
74,625
Return on equity
18.1 %
16.0 %
17.7 %
14.3 %
nm(2)
11.1 %
12.0 %
15.3 %
15.8 %
11.3 %
nm(2)
10.1 %
Adjusted(3)
Net income
attributable
to common
shareholders
$
960
$
721
$
488
$
545
$
(173)
$
2,541
$
613
$
681
$
405
$
413
$
(215)
$
1,897
Return on equity
18.1 %
16.1 %
17.9 %
14.3 %
nm(2)
13.0 %
12.0 %
15.5 %
16.1 %
11.3 %
nm(2)
10.4 %
(1) Average amounts calculated using methods intended to approximate the daily average balances for the period.
(2) Not meaningful.
(3) Refer to Table on page 6.
For the six months ended April 30, 2026
For the six months ended April 30, 2025
Global
Global
Global
Global
Canadian
International
Wealth
Banking and
Canadian
International
Wealth
Banking and
($ millions)
Banking
Banking
Management
Markets
Other
Total
Banking
Banking
Management
Markets
Other
Total
Reported
Net income
attributable
to common
shareholders
$
1,895
$
1,418
$
955
$
1,002
$
(647)
$
4,623
$
1,526
$
1,327
$
806
$
930
$
(1,723)
$
2,866
Total average
common
equity(1)
21,299
17,910
10,824
15,150
12,083
77,266
21,271
18,140
10,257
15,169
9,443
74,280
Return on equity
17.9 %
16.0 %
17.8 %
13.3 %
nm(2)
12.1 %
14.5 %
14.8 %
15.8 %
12.4 %
nm(2)
7.8 %
Adjusted(3)
Net income
attributable
to common
shareholders
$
1,895
$
1,429
$
968
$
1,002
$
(265)
$
5,029
$
1,527
$
1,338
$
819
$
930
$
(514)
$
4,100
Return on equity
17.9 %
16.1 %
18.0 %
13.3 %
nm(2)
13.1 %
14.5 %
14.9 %
16.1 %
12.4 %
nm(2)
11.1 %
(1) Average amounts calculated using methods intended to approximate the daily average balances for the period.
(2) Not meaningful.
(3) Refer to table on page 6.
Forward-looking statements
From time to time, our public communications include oral or written forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission (SEC), or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2025 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "aim," "achieve," "foresee," "forecast," "anticipate," "intend," "estimate," "outlook," "seek," "schedule," "plan," "goal," "strive," "target," "project," "commit," "objective," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would," "might," "can" and "could" and positive and negative variations thereof.
By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved.
We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements.
The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate and globally; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates, including relating to the care and control of information, and other risks arising from the Bank's use of third parties; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; geopolitical risk (including policies and other changes related to, or affecting, economic or trade matters, including tariffs, countermeasures, tariff mitigation policies and tax-related risks); changes to our credit ratings; the possible effects on our business and the global economy of war, conflicts or terrorist actions and unforeseen consequences arising from such actions; technological changes, including open banking and the use of data and artificial intelligence in our business, and technology resiliency; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services, and the extent to which products or services previously sold by the Bank require the Bank to incur liabilities or absorb losses not contemplated at their origination; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; anti-money laundering; disruptions or attacks (including cyberattacks) on the Bank's information technology, internet connectivity, network accessibility, or other voice or data communications systems or services, which may result in data breaches, unauthorized access to sensitive information, denial of service and potential incidents of identity theft; increased competition in the geographic and business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; environmental, social and governance risks, including climate-related risk, our ability to implement various sustainability-related initiatives (both internally and with our clients and other stakeholders) under expected time frames, and our ability to scale our sustainable-finance products and services; the occurrence of natural and unnatural catastrophic events and claims resulting from such events, including disruptions to public infrastructure, such as transportation, communications, power or water supply; inflationary pressures; global supply-chain disruptions; Canadian housing and household indebtedness; the emergence or continuation of widespread health emergencies or pandemics, including their impact on the local, national or global economies, financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward-looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 2025 Annual Report, as may be updated by quarterly reports.
Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2025 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" and "2026 Priorities" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events.
Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf.
Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the SEC's website at www.sec.gov.
Shareholders Information
Dividend and Share Purchase Plan
Scotiabank's Shareholder Dividend and Share Purchase Plan allows common and preferred shareholders to purchase additional common shares by reinvesting their cash dividend without incurring brokerage or administrative fees. As well, eligible shareholders may invest up to $20,000 each fiscal year to purchase additional common shares of the Bank. All administrative costs of the plan are paid by the Bank. For more information on participation in the plan, please contact the transfer agent.
Website
For information relating to Scotiabank and its services, visit us at our website: www.scotiabank.com.
Conference Call and Web Broadcast
The quarterly results conference call will take place on May 27, 2026, at 7:15 am ET and is expected to last approximately one hour. Interested parties are invited to access the call live, in listen-only mode, by telephone at 647-557-5524, or toll-free at 1-888-440-4083 using ID 1863444# (please call shortly before 7:15 am ET). In addition, an audio webcast, with accompanying slide presentation, may be accessed via the Investor Relations page at www.scotiabank.com/investorrelations.
Following discussion of the results by Scotiabank executives, there will be a question and answer session. A telephone replay of the conference call will be available from May 27, 2026, to June 3, 2026, by calling 647-362-9199 or toll-free at 1-800-770-2030 and entering the access code 1863444#.
Shareholders:
For enquiries related to changes in share registration or address, dividend information, lost share certificates, estate transfers, or to advise of duplicate mailings, please contact the Bank's transfer agent:
Computershare Trust Company of Canada
320 Bay Street, 14th Floor
Toronto, Ontario, Canada M5H 4A6
Telephone: 1-877-982-8767
E-mail: [email protected]
Street Courier/Address:
C/O: Shareholder Services
150 Royall Street
Canton, MA, USA 02021
Mailing Address:
PO Box 43078
Providence, RI, USA 02940-3006
For other shareholder enquiries, please contact the Corporate Secretary's Department:
Scotiabank
40 Temperance Street
Toronto, Ontario, Canada M5H 0B4
Telephone: (416) 866-3672
E-mail: [email protected]
Rapport trimestriel disponible en français
Le rapport trimestriel et les états financiers de la Banque sont publiés en français et en anglais et distribués aux actionnaires dans la version de leur choix. Si vous préférez que la documentation vous concernant vous soit adressée en français, veuillez en informer Relations avec les investisseurs, La Banque de Nouvelle-Écosse, 40, rue Temperance, Toronto (Ontario), Canada M5H 0B4, en joignant, si possible, l'étiquette d'adresse, afin que nous puissions prendre note du changement.
, /CNW/ - Scotiabank today announced a dividend of $1.14 per share, an increase of $0.04 per share on the outstanding common shares of the Bank. This dividend is payable on July 29, 2026, to shareholders of record at the close of business on July 7, 2026:
Common Shares
Dividend No. 628 of $1.14 per share; an increase of 4 cents Holders may elect to receive their dividends in common shares of the Bank in lieu of cash dividends, in accordance with the Bank's Shareholder Dividend and Share Purchase Plan (the "Plan"). Under the Plan, the Bank determines whether the additional common shares will be purchased on the open market or issued by the Bank from treasury.
As previously announced, until such time as the Bank elects otherwise, the Bank has discontinued the issuance of common shares from treasury under the Plan. Purchases of common shares under the Plan will be made by Computershare Trust Company of Canada, as agent under the Plan, in the secondary market in accordance with the provisions of the Plan. All brokerage commissions or service charges in connection with such purchases will be paid by the Bank.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at April 30, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.
SOURCE Scotiabank
For further information: Meny Grauman, Investor Relations, Scotiabank, [email protected]; Rebecca Hoang, Investor Relations, Scotiabank, [email protected]
Bank of Nova Scotia bumped up its dividend as it logged a lift in fiscal second-quarter profit on the back of a lower credit-loss provision and growth across its segments.
Bank of Nova Scotia NYSE: BNS reported stronger second-quarter fiscal 2026 results, with management pointing to revenue growth, expense discipline and rising returns across several business lines while also acknowledging a more uncertain credit backdrop.
President and Chief Executive Officer Scott Thomson said adjusted earnings were CAD 2.7 billion, or CAD 2.02 per share. Pre-tax, pre-provision earnings rose 16% year-over-year, while return on equity was 13.2%. Thomson said the bank remains on track to reach a return on equity above 14% in fiscal 2027, one year ahead of its investor day target.
The bank’s common equity tier 1 ratio stood at 13.3% after repurchasing 6.4 million shares during the quarter. Scotiabank also announced a quarterly dividend increase of CAD 0.04 per share. Thomson said the bank has returned CAD 7.5 billion to shareholders through dividends and buybacks over the past 12 months.
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Canadian Banking Momentum Builds Thomson said Canadian Banking continued to improve, with pre-tax, pre-provision earnings up 13% from a year earlier. The business posted a fourth consecutive quarter of margin expansion and continued growth in fee income, supported by wealth management, credit cards and insurance.
Chief Financial Officer Raj Viswanathan said Canadian Banking earnings were CAD 935 million, up 53% year-over-year, supported by pre-tax, pre-provision growth and lower performing provisions for credit losses. Loans rose 3% year-over-year, with mortgage growth of 4%, while commercial and small business loans grew 1%. Day-to-day and savings deposits increased 3%, though overall deposits declined 3%, largely due to term deposits.
Thomson said the bank is retaining more than 90% of retail GIC maturities despite industry-wide pressure and deposit competition. Some balances are staying in Canadian Banking, while others are moving into retail mutual funds, where net sales rose significantly from the prior year.
Management also highlighted the launch of the Scotia High Interest Savings Account, described by Thomson as a relationship-based account that offers tiered regular interest rates based on eligible total relationship balances across Scotiabank accounts.
Wealth, International and Markets Units Contribute to Growth Global Wealth Management earnings were CAD 474 million, up 19% year-over-year, according to Viswanathan. Spot assets under management and assets under administration rose 18% and 15%, respectively, from market appreciation and higher net sales. Thomson said net sales for the quarter reached CAD 4.7 billion, four times the level in the same quarter last year, marking the seventh consecutive quarter of positive net flows.
Thomson said Canadian Wealth Management is benefiting from stronger connectivity with Canadian Banking. Total closed referrals were CAD 9 billion year-to-date, while closed referrals between commercial banking and wealth doubled from the first half of last year to CAD 2.8 billion.
In International Banking, Thomson said pre-tax, pre-provision earnings rose 12% year-over-year, helped by 7% revenue growth. Mexico was highlighted as a strong performer, with revenue up 8% and earnings up 25% year-over-year. Viswanathan said International Banking earnings were CAD 701 million, up 3% year-over-year on a constant-dollar basis and excluding divested operations.
Global Banking and Markets earnings were CAD 457 million, up 11% from a year earlier. Revenue increased 9%, driven by a 25% rise in capital markets revenue. Thomson said the deal pipeline remains strong and that the third quarter had started with “a number of marquee transactions” announced in recent weeks.
Credit Costs Remain Elevated Chief Risk Officer Shannon McGinnis said the macroeconomic environment remains uncertain, citing geopolitical developments, elevated energy costs, trade pressures and inflation. All-bank provisions for credit losses were CAD 1.2 billion, or 66 basis points, up five basis points from the prior quarter. Impaired provisions were CAD 1.1 billion, or 61 basis points.
McGinnis said the increase was driven mainly by one corporate account in International Banking, representing about seven basis points of all-bank impaired provisions. She said the account reflected company-specific factors rather than broader macroeconomic or trade-related pressure.
The bank’s allowance for credit losses rose to CAD 7.3 billion, or 96 basis points, up two basis points quarter-over-quarter. Gross impaired loans increased four basis points to 99 basis points, mainly due to the single International Banking corporate account and higher formations in Canadian commercial.
McGinnis said Scotiabank now expects impaired provisions to settle in the mid-50-basis-point range for the remainder of 2026. She told analysts that while this is slightly elevated compared with the bank’s earlier outlook, management still expects credit losses to moderate from first-half levels, though more gradually than previously anticipated.
Management Discusses Margins, Capital and Outlook Viswanathan said the bank’s net interest margin benefited from higher business-line margins and lower funding costs. All-bank net interest income rose 10% year-over-year, while non-interest income increased 17%, driven by higher wealth management revenue, investment gains and income from associated corporations. Expenses rose 7%, including a 9% increase in technology spending to CAD 1.4 billion.
In response to analyst questions, Viswanathan said International Banking’s net interest margin of 476 basis points was a high point for the segment, aided by lower funding costs in Latin America, benefits in Chile and a resilient Caribbean franchise. He said he expected the margin to be in the 465-to-470-basis-point range for the third and fourth quarters.
Thomson said Scotiabank’s capital deployment priorities remain organic growth, share buybacks and strategic tuck-in acquisitions. He said management expects buybacks to remain consistent, citing the valuation gap between Scotiabank and peers. He also said potential tuck-in deals could support areas such as the bank’s mortgage capital markets business or wealth capabilities, but described possible transactions as relatively small, in the range of CAD 200 million to CAD 400 million rather than billions.
Thomson also expressed optimism about Canada’s outlook, pointing to the benefits of higher oil prices for an oil-exporting economy, fiscal stimulus, a shift in tone from international investors and the importance of the Canada-U.S.-Mexico trading bloc. However, management continued to flag uncertainty from inflation, trade dynamics and consumer pressure across the bank’s markets.
About Bank of Nova Scotia NYSE: BNSBank of Nova Scotia, commonly known as Scotiabank, is a Canadian multinational banking and financial services company founded in 1832 and headquartered in Toronto, Ontario. It is one of Canada's largest banks and provides a broad range of financial services to retail, commercial, corporate and institutional clients. The bank combines a domestic Canadian franchise with an extensive international presence to serve customers across multiple markets.
Scotiabank's core activities include personal and commercial banking, wealth management, corporate and investment banking, capital markets, and global transaction banking.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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BMO Financial Group (TSX:BMO), Bank of Nova Scotia (TSX:BNS) and National Bank of Canada (TSX:NA) all topped analyst expectations in their second-quarter results, with each bank raising its quarterly dividend. BMO posted the most dramatic profit surge of the three, with net income climbing 34% year-over-year to $2.63 billion, or $3.53 per diluted share, for the quarter ended April 30.
The Bank of Nova Scotia delivered strong Q2 results, with EPS up 12 cents and ROE improving to 13.1%. BNS saw robust non-interest income growth, particularly in wealth management and capital markets, offsetting flat net interest income acceleration. Provisions declined, and CET1 remains strong at 13.3%, but concentration risk surfaced with a single-client impaired loan increase.
, /CNW/ - Scotiabank (BNS: TO) today announced that it has entered into a definitive agreement to acquire Maple Financial Holdings, Inc. (parent company to MapleMark Bank). MapleMark Bank is a U.S. commercial bank with operations primarily in Dallas, Texas.
Scotiabank "Our acquisition of MapleMark Bank allows Scotiabank to offer FDIC deposit insurance to our clients, which is important for our Mortgage Capital Markets business and our deposit growth strategy. MapleMark Bank is a well-run bank primarily operating in Dallas, Texas and further supports our strategic focus within the North American corridor," said Travis Machen, CEO and Group Head, Global Banking and Markets, Scotiabank.
The transaction is subject to customary closing conditions and receipt of regulatory approvals and is not expected to have a material impact on Scotiabank's earnings or CET1 ratio.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at April 30, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.
ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT
In connection with the transaction, The Bank of Nova Scotia (BNS) intends to file a registration statement on Form F-4 with the SEC. The registration statement will constitute a prospectus of BNS. The definitive prospectus will be sent to the shareholders of Maple Financial Holdings, Inc. (Maple). In addition, shareholders of Maple will receive an information statement / proxy and other relevant materials in connection with the proposed transaction in accordance with applicable state law. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM F-4 AND PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM F-4 WHEN THEY BECOME AVAILABLE, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION OR INCORPORATED BY REFERENCE INTO THE REGISTRATION STATEMENT ON FORM F-4, AS WELL AS ANY OTHER DOCUMENTATION RECEIVED IN CONNECTION WITH THE TRANSACTION, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION REGARDING BNS, MAPLE, THE TRANSACTION AND RELATED MATTERS. Shareholders will be able to obtain a free copy of the definitive prospectus, as well as other filings containing information BNS and Maple, without charge, at the SEC's website (http://www.sec.gov [sec.gov]). Copies of the prospectus and the filings with the SEC that will be incorporated by reference in the prospectus can also be obtained, without charge, by directing a request to The Bank of Nova Scotia, 40 Temperance Street Toronto, Ontario, Canada M5H 0B4, Attention: Investor Relations, 416-775-0798 or to Maple Financial Holdings, Inc., 4143 Maple Avenue, Suite 100 Dallas, TX 75219, (972) 698-5760.
Before making any voting or investment decision, investors and security holders are urged to read carefully the entire registration statement and other related information when they become available, including any amendments thereto, because they will contain important information about the proposed Transaction. Free copies of these documents may be obtained as described above.
BNS, Maple and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Maple in connection with the Transaction. Information regarding the directors and executive officers of each of BNS and Maple is set forth in the F-4 and prospectus, as well as other related documents, to be filed or provided by BNS and/or Maple.
NO OFFER OR SOLICITATION
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Forward-looking Statements From time to time, our public communications include oral or written forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission (SEC), or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2025 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "aim," "achieve," "foresee," "forecast," "anticipate," "intend," "estimate," "outlook," "seek," "schedule," "plan," "goal," "strive," "target," "project," "commit," "objective," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would," "might," "can" and "could" and positive and negative variations thereof. By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate and globally; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates, including relating to the care and control of information, and other risks arising from the Bank's use of third parties; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; geopolitical risk (including policies and other changes related to, or affecting, economic or trade matters, including tariffs, countermeasures, tariff mitigation policies and tax-related risks); changes to our credit ratings; the possible effects on our business and the global economy of war, conflicts or terrorist actions and unforeseen consequences arising from such actions; technological changes, including open banking and the use of data and artificial intelligence in our business, and technology resiliency; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services, and the extent to which products or services previously sold by the Bank require the Bank to incur liabilities or absorb losses not contemplated at their origination; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; anti-money laundering; disruptions or attacks (including cyberattacks) on the Bank's information technology, internet connectivity, network accessibility, or other voice or data communications systems or services, which may result in data breaches, unauthorized access to sensitive information, denial of service and potential incidents of identity theft; increased competition in the geographic and business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; environmental, social and governance risks, including climate-related risk, our ability to implement various sustainability-related initiatives (both internally and with our clients and other stakeholders) under expected time frames, and our ability to scale our sustainable-finance products and services; the occurrence of natural and unnatural catastrophic events and claims resulting from such events, including disruptions to public infrastructure, such as transportation, communications, power or water supply; inflationary pressures; global supply-chain disruptions; Canadian housing and household indebtedness; the emergence or continuation of widespread health emergencies or pandemics, including their impact on the local, national or global economies, financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward-looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 2025 Annual Report, as may be updated by quarterly reports. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2025 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" and "2026 Priorities" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the SEC's website at www.sec.gov.
, /PRNewswire/ - Scotiabank (BNS: TO) today announced that it has entered into a definitive agreement to acquire Maple Financial Holdings, Inc. (parent company to MapleMark Bank). MapleMark Bank is a U.S. commercial bank with operations primarily in Dallas, Texas.
Scotiabank "Our acquisition of MapleMark Bank allows Scotiabank to offer FDIC deposit insurance to our clients, which is important for our Mortgage Capital Markets business and our deposit growth strategy. MapleMark Bank is a well-run bank primarily operating in Dallas, Texas and further supports our strategic focus within the North American corridor," said Travis Machen, CEO and Group Head, Global Banking and Markets, Scotiabank.
The transaction is subject to customary closing conditions and receipt of regulatory approvals and is not expected to have a material impact on Scotiabank's earnings or CET1 ratio.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products, and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.5 trillion (as at April 30, 2026), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.
ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT
In connection with the transaction, The Bank of Nova Scotia (BNS) intends to file a registration statement on Form F-4 with the SEC. The registration statement will constitute a prospectus of BNS. The definitive prospectus will be sent to the shareholders of Maple Financial Holdings, Inc. (Maple). In addition, shareholders of Maple will receive an information statement / proxy and other relevant materials in connection with the proposed transaction in accordance with applicable state law. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM F-4 AND PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM F-4 WHEN THEY BECOME AVAILABLE, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION OR INCORPORATED BY REFERENCE INTO THE REGISTRATION STATEMENT ON FORM F-4, AS WELL AS ANY OTHER DOCUMENTATION RECEIVED IN CONNECTION WITH THE TRANSACTION, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION REGARDING BNS, MAPLE, THE TRANSACTION AND RELATED MATTERS. Shareholders will be able to obtain a free copy of the definitive prospectus, as well as other filings containing information BNS and Maple, without charge, at the SEC's website (http://www.sec.gov [sec.gov]). Copies of the prospectus and the filings with the SEC that will be incorporated by reference in the prospectus can also be obtained, without charge, by directing a request to The Bank of Nova Scotia, 40 Temperance Street Toronto, Ontario, Canada M5H 0B4, Attention: Investor Relations, 416-775-0798 or to Maple Financial Holdings, Inc., 4143 Maple Avenue, Suite 100 Dallas, TX 75219, (972) 698-5760.
Before making any voting or investment decision, investors and security holders are urged to read carefully the entire registration statement and other related information when they become available, including any amendments thereto, because they will contain important information about the proposed Transaction. Free copies of these documents may be obtained as described above.
BNS, Maple and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Maple in connection with the Transaction. Information regarding the directors and executive officers of each of BNS and Maple is set forth in the F-4 and prospectus, as well as other related documents, to be filed or provided by BNS and/or Maple.
NO OFFER OR SOLICITATION
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Forward-looking Statements From time to time, our public communications include oral or written forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission (SEC), or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2025 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "aim," "achieve," "foresee," "forecast," "anticipate," "intend," "estimate," "outlook," "seek," "schedule," "plan," "goal," "strive," "target," "project," "commit," "objective," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would," "might," "can" and "could" and positive and negative variations thereof. By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate and globally; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates, including relating to the care and control of information, and other risks arising from the Bank's use of third parties; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; geopolitical risk (including policies and other changes related to, or affecting, economic or trade matters, including tariffs, countermeasures, tariff mitigation policies and tax-related risks); changes to our credit ratings; the possible effects on our business and the global economy of war, conflicts or terrorist actions and unforeseen consequences arising from such actions; technological changes, including open banking and the use of data and artificial intelligence in our business, and technology resiliency; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services, and the extent to which products or services previously sold by the Bank require the Bank to incur liabilities or absorb losses not contemplated at their origination; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; anti-money laundering; disruptions or attacks (including cyberattacks) on the Bank's information technology, internet connectivity, network accessibility, or other voice or data communications systems or services, which may result in data breaches, unauthorized access to sensitive information, denial of service and potential incidents of identity theft; increased competition in the geographic and business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; environmental, social and governance risks, including climate-related risk, our ability to implement various sustainability-related initiatives (both internally and with our clients and other stakeholders) under expected time frames, and our ability to scale our sustainable-finance products and services; the occurrence of natural and unnatural catastrophic events and claims resulting from such events, including disruptions to public infrastructure, such as transportation, communications, power or water supply; inflationary pressures; global supply-chain disruptions; Canadian housing and household indebtedness; the emergence or continuation of widespread health emergencies or pandemics, including their impact on the local, national or global economies, financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward-looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 2025 Annual Report, as may be updated by quarterly reports. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2025 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" and "2026 Priorities" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the SEC's website at www.sec.gov.
Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
Based in Toronto, Bank of Nova Scotia (BNS - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 9.32%. Currently paying a dividend of $0.79 per share, the company has a dividend yield of 3.93%. In comparison, the Banks - Foreign industry's yield is 2.74%, while the S&P 500's yield is 1.45%.
Looking at dividend growth, the company's current annualized dividend of $3.16 is up 2.9% from last year. Over the last 5 years, Bank of Nova Scotia has increased its dividend 3 times on a year-over-year basis for an average annual increase of 2.35%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Bank of Nova Scotia's current payout ratio is 55%, meaning it paid out 55% of its trailing 12-month EPS as dividend.
Earnings growth looks solid for BNS for this fiscal year. The Zacks Consensus Estimate for 2026 is $6.05 per share, with earnings expected to increase 19.57% from the year ago period.
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. But, not every company offers a quarterly payout.
Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, BNS is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).
Scotiabank demonstrates robust fundamentals, with prudent loan management, diversified assets, and strong liquidity supporting resilience amid macroeconomic volatility. BNS's Q2 2026 net interest income rose 5% YoY, benefiting from falling interest expenses and stable loan volumes, despite an 8.4% YoY decline in interest income. Loan-to-deposit ratio remains conservative at 78%, with commercial and secured loans dominating, mitigating credit risk and supporting high credit quality.
Dividend-paying stocks are the perfect option for a busy investor. They are usually reliable, stable stocks you don't need to worry about. You just buy some shares, set up a dividend reinvestment plan (DRIP), and let your money compound into a passive cash stream over years or even decades.
And there are three dividend stocks on my radar that invesotrs should consider adding to their portfolio: Vici Properties (VICI +1.50%), PepsiCo (PEP +0.28%), and T.Rowe Price Group (TROW +1.23%).
Image source: Getty Images.
Buy the ticket, take the ride Up first is the gambling-focused real estate investment trust (REIT) Vici Properties. Honestly, what article about dividend stocks would be complete without a REIT? They're required to pay out 90% of their taxable income to shareholders in the form of a dividend.
Vici owns 61 casinos (including some of the most iconic spots on the Vegas Strip like Caesar's Palace and the MGM Grand) and rents them out to casino operators and entertainment companies across the country and one Canadian province. It also owns 39 nongambling entertainment properties and four golf courses.
The company has a 100% occupancy rate, which helped it grow its revenue 3.5% to $1 billion for Q1 2026. Off the back of that, it grew its adjusted funds from operation (AFFO) 5.7%. And it pays 90% of that income back to shareholders in a dividend that yields 6.19% at current prices.
Vici is one bet you'll likely want to place and let ride for a long time to come.
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I'll have a Pepsi, actually I don't know where you fall on the eternal Coca-Cola versus Pepsi debate. Full disclosure: My favorite soda is Mexican Coke. But when it comes to what I want in my portfolio versus what I want with my lunch, Pepsi wins hands down.
Pepsi has a 4.1% yield at current prices to Coca-Cola's 2.79%. Now, Pepsi is the riskier dividend with its payout ratio sitting at 89.3% to Coca-Cola's 64.78%, but neither of the stocks is particularly risky -- especially not after seeing their Q1 2026 results.
For Q1 2026, Pepsi grew its net revenue 8.5% over Q1 2025, and its earnings per share (EPS) shot up 27%. The company also grew its net profit margin from 8.83% at the end of 2025 to 9.21% at the end of Q1 2026.
Now, it must be noted that while both companies have a high debt load. Pepsi's is much higher than Coca-Cola's at 2.45 compared to 1.23. However, both stocks are blue chips, and I don't think they will have problems paying their debts.
So, all other things being relatively equal, I would go for the higher yield of Pepsi's dividend even though I'll be ordering a Coke with my sandwich.
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High finance, high yield Finally, let's talk about T. Rowe Price, which has been providing financial services to its home city of Baltimore and beyond since 1937. It also pays a dividend that yields 4.9% at current prices, and the company has grown it every year for the past four decades.
If the company keeps that streak alive (and given that its payout ratio is sitting at a nice and low 54.77% right now, I see no reason why it shouldn't be able to), then it should achieve Dividend King status come its 100th birthday in 2037. Dividend Kings are companies that have increased their payouts for 50 consecutive years or more.
In T. Rowe Price's most recent reported quarter (Q1 2026), its revenue grew 5.3% over Q1 2025 to $1.85 billion, and its earnings per share for the quarter grew 3.7% over the same period.
It also maintains a net profit margin of 29.53% and a very healthy balance sheet, with a total debt-to-equity ratio of 0.04.
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T. Rowe Price offers a steadily growing dividend you really don't need to worry about. The company's finances are rock solid and are likely to remain so for the foreseeable future.
Combine all three stocks, and you have the beginnings of a solid dividend portfolio.
VICI Properties' shares look like they are trading at a discounted valuation relative to its historical trading level and attractive dividend yield. While I'm long a position already, I've been writing put options lately to generate some additional 'income' nearly every month this year. This can provide an attractive alternative to income-focused investors combined with or in place of buying shares outright today.
It has been about a month since the last earnings report for VICI Properties Inc. (VICI - Free Report) . Shares have lost about 3% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is VICI Properties due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
VICI Properties' Q1 AFFO Meets Estimates, Revenues Rise Y/YVICI Properties reported first-quarter 2026 AFFO per share of 61 cents, in line with the Zacks Consensus Estimate. The figure increased 5.2% from the prior-year quarter. Total revenues came in at $1.02 billion, up 3.5% year over year, but missed the consensus mark by just 0.1%.
The quarter featured steady rent-led growth and active capital deployment. Management also raised its full-year 2026 outlook for AFFO per share, reinforcing confidence in the company’s partner-driven investment strategy.
VICI Properties’ Results Reflect Higher Lease-Led GrowthVICI Properties’ top line benefited from higher income from lease financing receivables, loans and securities, which rose to $452 million from $426.5 million in the year-ago quarter. Income from sales-type leases also increased to $536.7 million from $528.6 million.
Other income edged down to $18.9 million from $19.5 million a year ago. Golf revenues rose to $11 million from $9.6 million, providing a modest offset to the decline in other income.
VICI Properties Gains From Credit Loss Allowance SwingProfitability in the quarter was heavily influenced by credit loss. The change in allowance for credit losses was a $118.8 million benefit versus a $187 million expense in the prior-year quarter, which meaningfully lifted reported earnings power.
VICI Properties Expands Deals With PartnersVICI Properties continued to deepen relationships with existing and new counterparties. During the quarter, it provided a $1.5 billion mezzanine loan as part of the construction financing for the One Beverly Hills development, with an initial funding of $650 million.
The company also announced a pending acquisition of a Canadian casino portfolio in Alberta for CAD$200.6 million (about US$144.4 million at the time of announcement), with the assets to be added to the existing PURE master lease.
Subsequent to quarter-end, VICI Properties entered into a new lease for MGM Northfield Park with an affiliate of funds managed by Clairvest, adding a new tenant and resetting rent streams around the MGM master lease structure.
VICI Properties' Balance Sheet Remains Liquid After Heavy InvestingVICI Properties ended the quarter with $480.2 million in cash and cash equivalents. Liquidity remained substantial, at $3.1 billion supported by cash, estimated forward sale equity proceeds and revolving credit facility capacity.
Subsequent to quarter-end, VICI Properties physically settled the remaining 7.75 million shares under its forward sale agreement for approximately $242.1 million in net proceeds, adding further flexibility as it pursues announced transactions and future partner-led opportunities.
VICI Properties Raises 2026 AFFO Outlook After Solid StartVICI Properties raised full-year 2026 AFFO per share guidance to $2.44-$2.47 compared to the prior guided range of $2.42-$2.45.
How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in estimates revision.
VGM ScoresCurrently, VICI Properties has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. Following the exact same course, the stock was allocated a score of C on the value side, putting it in the middle 20% for value investors.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, VICI Properties has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerVICI Properties belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, American Tower (AMT - Free Report) , has gained 2.2% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.
American Tower reported revenues of $2.74 billion in the last reported quarter, representing a year-over-year change of +6.8%. EPS of $1.84 for the same period compares with $2.75 a year ago.
For the current quarter, American Tower is expected to post earnings of $2.69 per share, indicating a change of +3.5% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.3% over the last 30 days.
American Tower has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
VICI Properties has stable cash flows, disciplined growth, and an undervalued 9.6x forward P/FFO multiple. VICI's 100% triple-net lease structure, 100% occupancy, and strong tenant guarantees underpin resilient income and a well-covered 6.4% dividend yield. Recent accretive acquisitions and self-funded investments drive 4.5% AFFO/share growth, supported by a conservative 5.0x net debt/EBITDA balance sheet.
The Dividend Harvesting Portfolio achieved a 42.41% return on invested capital, now yielding $3,037 in forward annualized dividends (7.78% yield, 11.08% yield on cost). I continue to add to rate-sensitive assets like Realty Income (O) and QQQI, expecting a favorable rate environment and market upside toward S&P 8,000 in 2026. Portfolio diversification remains a priority, with individual equities at 40.12% and a focus on increasing energy sector exposure for future growth.
VICI Properties provides a market-beating payout that's reasonably safe and steadily growing. The net lease REIT's trifecta of growth catalysts still paves the way to reliable +3% annual AFFO per share growth. VICI Properties' net leverage ratio is at the low end of its targeted range, making it financially stable.
NEW YORK--(BUSINESS WIRE)--VICI Properties Inc. (NYSE: VICI) (“VICI Properties”) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.45 per share of common stock for the period from April 1, 2026 to June 30, 2026. The dividend will be payable on July 9, 2026 to stockholders of record as of the close of business on June 18, 2026.
VICI declares a quarterly cash dividend of $0.45 per share of common stock
Share About VICI Properties
VICI Properties Inc. is an S&P 500® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 100 experiential assets across a geographically diverse portfolio consisting of 61 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 130 million square feet and features over 66,000 hotel rooms and over 700 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading operators in other experiential sectors, including Cabot, Cain, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield, Kalahari Resorts and Lucky Strike Entertainment. VICI Properties also owns four championship golf courses and approximately 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties’ goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators. For additional information, please visit www.viciproperties.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “assumes,” “believes,” “estimates,” “expects,” “guidance,” “intends,” “plans,” “projects,” “will,” and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond VICI’s control and could materially affect actual results, performance, or achievements. Important risk factors that may affect VICI’s business, results of operations and financial position are detailed from time to time in VICI’s filings with the Securities and Exchange Commission. VICI does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.
VICI Properties Inc. (VICI - Free Report) ended the recent trading session at $27.86, demonstrating a +2.39% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 2.65%. Elsewhere, the Dow lost 1.35%, while the tech-heavy Nasdaq lost 4.18%.
The stock of company has fallen by 5.49% in the past month, lagging the Finance sector's gain of 2.8% and the S&P 500's gain of 5.47%.
The investment community will be closely monitoring the performance of VICI Properties Inc. in its forthcoming earnings report. The company is predicted to post an EPS of $0.62, indicating a 3.33% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.04 billion, up 3.62% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.46 per share and revenue of $4.18 billion, indicating changes of +3.36% and +4.29%, respectively, compared to the previous year.
Any recent changes to analyst estimates for VICI Properties Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.05% rise in the Zacks Consensus EPS estimate. VICI Properties Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, VICI Properties Inc. is holding a Forward P/E ratio of 11.06. Its industry sports an average Forward P/E of 12.68, so one might conclude that VICI Properties Inc. is trading at a discount comparatively.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 96, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
The Fed has already quietly delivered 75 basis points of cuts between late September and mid-December 2025, taking the funds rate from 4.5% to 3.75%, and Goldman Sachs Asset Management is now telling clients the Fed may cut rates twice more in 2026. The 10-year is still sitting at 4.49%, which means dividend equities have not yet re-rated for the lower-rate world that is already underway. When that gap closes, the names below get paid first.
1. AGNC Investment (NASDAQ: AGNC): The Surprise Front-Runner Nobody on dividend Twitter is leading with a mortgage REIT, which is precisely why AGNC Investment (NASDAQ:AGNC | AGNC Price Prediction) belongs at the top. AGNC borrows short and owns long-duration Agency mortgage-backed securities. When the Fed cuts the funds rate, AGNC’s repo funding costs fall almost immediately, while the coupons on its existing MBS portfolio do not. That is the cleanest, most mechanical rate-cut trade on this list.
The early evidence is already showing up in the numbers. AGNC’s repo rate declined to 3.79% from 4.13%, and net spread plus dollar roll income rose to $0.42/share from $0.35, with the net interest spread widening 25 basis points to 2.06%. The stock is up 30.9% over the past year while still paying a 14.2% dividend yield via a $0.12 monthly distribution that has held steady for 18+ consecutive months.
The catch: Q1 2026 produced a net loss of $0.17/share when Middle East geopolitics widened MBS spreads in March. That dip is the entry point most income investors will miss. The bigger names ahead are not paying yields anywhere near this.
2. Realty Income (NYSE: O): The Heavyweight Already Moving Realty Income (NYSE:O) is the obvious name, the one every income investor already knows. It owns 15,000+ free-standing single-tenant properties on triple-net leases. When the 10-year yield falls, Realty Income’s cap-rate spreads widen, acquisitions get more accretive, and the stock re-rates because its 5%-plus dividend yield suddenly looks even more attractive against Treasuries.
Management is already pressing the accelerator. Q1 2026 revenue hit $1.55B with AFFO of $1.13/share, up 6.6% year over year, and the company raised 2026 investment volume guidance to $9.5B from $8.0B while bumping AFFO guidance to $4.41–$4.44/share. The monthly payout sits at $0.2705, the 114th consecutive quarterly increase.
Shares are up 8% year-to-date, but the analyst target of $68.15 implies further upside as yields compress. The next name carries 30 times Realty Income’s market cap and is wired directly into the AI buildout.
3. NextEra Energy (NYSE: NEE): Utility Bond Proxy with a Growth Engine NextEra Energy (NYSE:NEE) is the rare utility that trades like a growth stock because it owns both Florida Power & Light and the largest renewables development arm in the country. Utilities are textbook duration plays: regulated cash flows, capital-intensive balance sheets, dividend yields benchmarked against the 10-year. Lower rates expand multiples and reduce the cost of the company’s enormous capex program.
And that capex program is enormous. FPL’s 2026 capex is guided to $12B–$13B, with up to $100B in investment through 2032; NEER added a record 4 GW in Q1 including 1.3 GW of battery storage, with a backlog of roughly 33 GW; and the U.S. Department of Commerce selected NextEra to build 9.5 GW of gas-fired generation in Texas and Pennsylvania under the US-Japan trade deal. Management is guiding to 8%+ adjusted EPS CAGR through 2032 with ~10% dividend growth through 2026.
I’ve been watching NEE for years and the setup right now is unusual: shares are down 11% over the past month on Dominion acquisition noise, but the analyst consensus target sits at $98.55. Reddit’s dividend community has been steady on it: a bullish sentiment score of 72 in r/dividendinvesting. The #4 name is the one whose entire balance sheet is built on cheap debt.
4. American Tower (NYSE: AMT): The Leveraged Re-Rating Trade American Tower (NYSE:AMT) is the most rate-sensitive name in the large-cap REIT universe because it carries $37.3B in total debt against net leverage of 4.9x. Cell towers and data centers are the physical layer of every AI workload running today; lower rates drop AMT’s refinancing costs and lift the present value of decades of escalator-driven tower rents. That’s a double-barreled tailwind.
The operating business is already accelerating. Q1 2026 revenue grew 6.8% to $2.74B and EPS hit $1.84, beating expectations. International is on fire: Europe +22.4%, Latin America +20.3%, Data Centers +18.4% to $289M. Management raised 2026 AFFO guidance to $10.90–$11.07/share.
Shares have already started moving, up 12% year-to-date and 9% in the past month, with the analyst target at $216.14. The #5 slot is the smallest market cap on this list, and arguably the most overlooked.
5. VICI Properties (NYSE: VICI): The Punchline VICI Properties (NYSE:VICI) owns Caesars Palace, the Venetian, MGM Grand, and 90 other experiential real estate properties on 40-year weighted average leases at 100% occupancy. Every one of those leases has CPI-linked escalators baked in. So when rates fall and inflation runs warm, as Core PCE hitting 129.63 in April 2026, the highest point in the 12-month dataset, VICI’s rent stream is one of the few that grows with inflation while its discount rate falls. That is the punchline.
The math is unusually clean here. 2026 AFFO guidance is $2.59B–$2.63B ($2.42–$2.45/diluted share), the dividend was just raised 4.0% to $0.45/quarter, the 8th consecutive annual increase since the 2018 IPO, and a $1.16B sale-leaseback of 7 Golden Entertainment casinos is closing mid-2026 at a 7.5% cap rate. The yield sits at 6.54% against a forward P/E of 10x.
Here’s what makes VICI the payoff: the stock is down 8% over the past year and 4% in the past month while every other name on this list has rallied. The analyst target is $34.17 against a current price near $27. Reddit’s dividend community shows a bullish 68 sentiment score, but mainstream coverage is non-existent. That gap closes when the 10-year breaks lower.
The Setup The Fed has already cut 75 bps, inflation is still above target, and the 10-year hasn’t gotten the memo. That’s the dislocation. AGNC offers the most direct mechanical payoff, Realty Income and NextEra are the heavyweights that always work, American Tower is the leveraged re-rating, and VICI is the contrarian setup hiding in plain sight. The window between "rates cut" and "yields fall" is where this money gets made, and it doesn’t stay open forever.
The Dividend Harvesting Portfolio demonstrated resilience, declining only 1.18% versus the S&P 500's 2.6% drop, with a current yield of 7.87%. Recent market volatility is viewed as a buying opportunity, with capital allocated to VICI Properties and PIMCO Dynamic Income Fund to enhance forward income. VICI offers a 6.46% yield and unique real estate exposure, while PDI trades near 52-week lows with a 15.76% yield and robust distribution history.
In the latest trading session, VICI Properties Inc. (VICI - Free Report) closed at $28.09, marking a -1.13% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.75%. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 2.54%.
Shares of the company have appreciated by 0.71% over the course of the past month, outperforming the Finance sector's gain of 0.12%, and the S&P 500's loss of 1.63%.
Analysts and investors alike will be keeping a close eye on the performance of VICI Properties Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.62, reflecting a 3.33% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.04 billion, showing a 3.62% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.46 per share and revenue of $4.18 billion, which would represent changes of +3.36% and +4.29%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for VICI Properties Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. VICI Properties Inc. currently has a Zacks Rank of #3 (Hold).
Looking at valuation, VICI Properties Inc. is presently trading at a Forward P/E ratio of 11.55. This represents a discount compared to its industry average Forward P/E of 13.35.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Marqeta, Inc. (NASDAQ: MQ) breached their fiduciary duties to shareholders.
If you currently own Marqeta stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected]. Our firm would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
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Donor Advised Charitable Giving Inc. purchased a new position in shares of Marqeta, Inc. (NASDAQ:MQ – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 264,729 shares of the company’s stock, valued at approximately $1,257,000. Marqeta comprises about 0.0% of Donor Advised Charitable Giving Inc.’s holdings, making the stock its 17th largest holding. Donor Advised Charitable Giving Inc. owned 0.06% of Marqeta at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of MQ. Quarry LP bought a new stake in shares of Marqeta during the third quarter worth approximately $26,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Marqeta during the third quarter worth approximately $55,000. AQR Capital Management LLC bought a new stake in Marqeta in the first quarter valued at about $57,000. Campbell & CO Investment Adviser LLC acquired a new position in Marqeta in the third quarter valued at about $60,000. Finally, Prelude Capital Management LLC acquired a new position in Marqeta in the third quarter valued at about $62,000. 78.64% of the stock is owned by institutional investors.
Analyst Ratings Changes Several equities analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on Marqeta in a research note on Tuesday, February 17th. They issued an “overweight” rating and a $6.00 target price on the stock. Mizuho reissued a “neutral” rating and issued a $4.50 target price (down from $8.00) on shares of Marqeta in a research note on Thursday, January 8th. Wolfe Research lowered Marqeta from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Morgan Stanley lowered their target price on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Marqeta in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $5.14.
Check Out Our Latest Report on MQ
Insider Buying and Selling at Marqeta In related news, Director Judson C. Linville purchased 25,570 shares of Marqeta stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $3.93 per share, for a total transaction of $100,490.10. Following the completion of the acquisition, the director directly owned 104,220 shares of the company’s stock, valued at $409,584.60. This represents a 32.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.61% of the stock is owned by company insiders.
Marqeta Stock Down 3.3% Shares of MQ stock opened at $3.85 on Friday. Marqeta, Inc. has a 12-month low of $3.70 and a 12-month high of $7.04. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -128.33 and a beta of 1.39. The firm has a fifty day moving average of $4.05 and a 200-day moving average of $4.52.
Marqeta (NASDAQ:MQ – Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.01. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. The company had revenue of $172.11 million during the quarter, compared to analyst estimates of $167.05 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The firm’s revenue was up 26.7% on a year-over-year basis. Research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current year.
Marqeta Company Profile (Free Report)
Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.
Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.
Read More Five stocks we like better than Marqeta Want to see what other hedge funds are holding MQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marqeta, Inc. (NASDAQ:MQ – Free Report).
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NEW YORK, April 16, 2026 /PRNewswire/ -- Purcell & Lefkowitz LLP announces that it is investigating Marqeta, Inc. (NASDAQ: MQ) on behalf of the company's shareholders. The investigation seeks to determine whether Marqeta's directors breached their fiduciary duties in connection with recent corporate actions.
If you are a shareholder of Marqeta and are interested in obtaining additional information about your rights and options, please visit us at: https://pjlfirm.com/marqeta-inc/
You may also contact Robert H. Lefkowitz, Esq. either via email at [email protected] or by telephone at 212-725-1000. One of our attorneys will personally speak with you about the case at no cost or obligation.
Purcell & Lefkowitz LLP is a law firm exclusively committed to representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty and other types of corporate misconduct. For more information about the firm and its attorneys, please visit https://pjlfirm.com. Attorney advertising. Prior results do not guarantee a similar outcome.
New York, New York--(Newsfile Corp. - April 23, 2026) - Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Marqeta, Inc. (NASDAQ: MQ) breached their fiduciary duties to shareholders.
According to a federal securities lawsuit, Insiders at Marqeta caused the company to misrepresent or fail to disclose that: (1) Marqeta understated the regulatory challenges affecting its business outlook; (2) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024; and (3) as a result, public statements were materially false and/or misleading at relevant times.
If you currently own MQ and purchased prior to February 28, 2024 please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Why Your Participation Matters:
As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™
NEW YORK, April 23, 2026 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Marqeta, Inc. (NASDAQ: MQ) breached their fiduciary duties to shareholders.
According to a federal securities lawsuit, Insiders at Marqeta caused the company to misrepresent or fail to disclose that: (1) Marqeta understated the regulatory challenges affecting its business outlook; (2) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024; and (3) as a result, public statements were materially false and/or misleading at relevant times.
If you currently own MQ and purchased prior to February 28, 2024 please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Why Your Participation Matters:
As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™
, /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Marqeta, Inc. (NASDAQ: MQ) breached their fiduciary duties to shareholders.
According to a federal securities lawsuit, Insiders at Marqeta caused the company to misrepresent or fail to disclose that: (1) Marqeta understated the regulatory challenges affecting its business outlook; (2) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024; and (3) as a result, public statements were materially false and/or misleading at relevant times.
If you currently own MQ and purchased prior to February 28, 2024 please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Why Your Participation Matters:
As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™
Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.
Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Marqeta, Inc. (NASDAQ: MQ) breached their fiduciary duties to shareholders.
If you currently own Marqeta stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].
Why Your Participation Matters:
Shareholder involvement can help improve a company's policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Halper Sadeh LLC
One World Trade Center
85th Floor
New York, NY 10007
Daniel Sadeh, Esq.
Zachary Halper, Esq.
(212) 763-0060
[email protected]
[email protected]
https://www.halpersadeh.com
The global modern card issuer reported Total Processing Volume growth of 33% and Gross Profit growth of 19% in the first quarter of 2026.
OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, Inc. (NASDAQ: MQ), the global modern card issuing platform, today reported financial results for the first quarter ended March 31, 2026.
The Company reported Total Processing Volume (TPV) of $112 billion, representing a year-over-year increase of 33%. Marqeta reported Net Revenue of $166 million and Gross Profit of $118 million, both growing 19% year-over-year. GAAP Net Income for the quarter was $8 million and Adjusted EBITDA was $33 million.
“Our first quarter results demonstrate the power of our platform at scale as we delivered on our promise of achieving GAAP Net Income profitability, a testament to our strong growth and disciplined execution,” said Mike Milotich, CEO of Marqeta. “As a modern card issuer capable of delivering a continuum of products and innovative solutions across multiple use cases and geographies, Marqeta is uniquely positioned to enable growth and engagement for our customers.”
Marqeta highlighted several recent business updates that demonstrate its current business momentum, including:
Long-standing expense management customer Ramp is utilizing Marqeta’s platform to expand its corporate solution into Australia, Japan, Singapore, Brazil and Mexico, with further geographic expansion planned for later in the year. Marqeta is enabling this rapid expansion through a single integration, allowing Ramp to issue virtual and physical cards with customized spend limits globally without the complexity of multiple localized systems. Marqeta enabled Sezzle's expansion of its offering by launching a virtual card in Canada. This expansion allows Sezzle’s Canadian consumers to access the same flexibility and smooth checkout experience available in the U.S. at any Canadian retailer accepting contactless payments. Marqeta signed a new customer that provides an automated financial assistant to help consumers manage their financial lives. This customer selected Marqeta to migrate its existing U.S. secured credit card portfolio, wanting a partner who is at the forefront of enabling innovation and could support its global expansion plans. This solution will be one of the early adopters of the issuer-managed Mastercard One Credential, allowing consumers to toggle between secured credit and installments on a single card for greater flexibility. Marqeta deepened its relationship with a rapidly growing embedded finance brand by launching a new credit builder card alongside their established debit program on Marqeta’s platform. This product is designed to help consumers establish and strengthen their credit profiles through daily spending, highlighting the option value for our customers delivering multiple products from a single platform. Operating Highlights
In thousands, except percentages and per share data, unless otherwise noted. % change is calculated over the comparable prior-year period (unaudited)
Three Months Ended March 31,
%
Change
2026
2025
Financial metrics:
Net Revenue
$
165,798
$
139,073
19%
Gross Profit
$
117,592
$
98,679
19%
Gross Margin
71
%
71
%
—%
Total Operating Expenses
$
115,498
$
117,217
(1%)
Net Income (Loss)
$
7,834
$
(8,260
)
nm
Net Income (Loss) Margin
5
%
(6
%)
11 ppts
Net Income (Loss) Per Share - Basic
$
0.02
$
(0.02
)
nm
Net Income (Loss) Per Share - Diluted
$
0.02
$
(0.02
)
nm
Key operating metric and Non-GAAP financial measures:
Total Processing Volume (TPV)
(in millions) 1
$
112,360
$
84,472
33%
Adjusted EBITDA 2
$
33,338
$
20,081
66%
Adjusted EBITDA Margin 2
20
%
14
%
6 ppts
Adjusted Operating Expenses 2
$
84,254
$
78,598
7%
1 TPV represents the total dollar amount of payments processed through our platform, net of returns and chargebacks. We believe that TPV is a key indicator of the market adoption of our platform, growth of our brand, growth of our customers' businesses and scale of our business.
2 See "Information Regarding Non-GAAP Measures" for definitions of Adjusted EBITDA, Adjusted EBITDA margin, and Adjusted operating expenses and the reconciliations of the net income (loss) to Adjusted EBITDA, and of the total operating expenses to Adjusted operating expenses.
nm - Not meaningful
First Quarter 2026 Financial Results:
Total Processing Volume increased by 33% year-over-year, from $84 billion in the first quarter of 2025 to $112 billion for the quarter ended March 31, 2026.
Net Revenue of $166 million increased by $27 million, or 19%, year-over-year, primarily driven by higher volumes, partially offset by unfavorable mix due to faster growth of card programs where we provide processing services with minimal or no program management.
Gross Profit increased by 19% year-over-year to $118 million from $99 million in the first quarter of 2025. The increase in Gross Profit was largely driven by our TPV growth, net of 1.5 percentage points of headwind due to the revised accounting policy for estimating and recognizing Card Network Incentives. Gross Margin was 71% in the first quarter of 2026.
Net Income of $8 million in the quarter, compared to a Net Loss of $8 million in the same period in the prior year, resulted in a year-over-year improvement of $16 million. Net income margin was 5% in the quarter, an increase of 11 percentage points versus last year.
Adjusted EBITDA was $33 million in the first quarter of 2026, an increase of $13 million year-over-year. Adjusted EBITDA margin was 20% in the first quarter of 2026, an increase of 6 percentage points versus last year.
Financial Guidance
The following summarizes Marqeta's guidance for the second quarter of 2026 and full year of 2026:
Second Quarter 2026
Fiscal Year 2026
Net Revenue Growth
14 - 16%
12 - 14%
Gross Profit Growth
14 - 16%
10 - 12%
Adjusted EBITDA Growth (1)
10 - 12%
Mid-to-high 20s
(1) Adjusted EBITDA Growth represents the year-over-year percentage change in Adjusted EBITDA. See "Information Regarding Non-GAAP Measures" for the definition of Adjusted EBITDA Margin and for information regarding non-availability of a forward reconciliation.
Conference Call
Marqeta will host a live conference call today at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). To join the call, please dial-in 10 minutes in advance: toll-free at 1-877-407-4018 or direct at 1-201-689-8471. The conference call will also be available live via webcast online at http://investors.marqeta.com.
The telephone replay dial-in numbers are 1-844-512-2921 and 1-412-317-6671 and will be available until May 19, 2026, 8:59 p.m. Pacific time (11:59 p.m. Eastern time). The confirmation code for the replay is 13759382.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements relating to Marqeta’s quarterly and annual guidance; statements regarding Marqeta’s profitability; statements regarding Marqeta’s customers, their growth, and their plans to onboard Marqeta's offerings; statements regarding Marqeta's new product introductions and product capabilities; statements regarding Marqeta's ability to enable growth for its customers; and statements made by Marqeta’s Chief Executive Officer. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: the risk that Marqeta is unable to maintain profitability; the risk that Marqeta is unable to further attract, retain, diversify, and expand its customer base; the risk that Marqeta is unable to drive increased profitable transactions on its platform; the risk that consumers and customers will not perceive the benefits of Marqeta’s products, including credit card issuing; the risk that Marqeta's platform does not operate as intended resulting in system outages; the risk that Marqeta will not be able to achieve the cost structure that Marqeta currently expects; the risk that Marqeta’s solutions will not achieve the expected market acceptance; the risk that competition could reduce expected demand for Marqeta’s services, including credit card issuing; the risk that changes in the regulatory landscape could adversely affect Marqeta's operations and revenues; the risk that Marqeta may be unable to maintain relationships with Issuing Banks and Card Networks; the risk that Marqeta is not able to identify, close and recognize the anticipated benefits of any acquisition; the risk that Marqeta is unable to successfully integrate any acquisition, to businesses and related operations; the risk of general economic conditions in either domestic or international markets, including inflation and recessionary fears, conditions resulting from geopolitical uncertainty and instability or war; and the risk that Marqeta may be subject to additional risks due to its international business activities. Detailed information about these risks and other factors that could potentially affect Marqeta’s business, financial condition, and results of operations are included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent Quarterly Reports, as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com.
The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.
Disclosure Information
Investors and others should note that Marqeta announces material financial information to its investors using its investor relations website, SEC filings, press releases, public conference calls and webcasts. Marqeta also uses social media to communicate with its customers and the public about Marqeta, its products and services, and other matters relating to its business and market. It is possible that the information Marqeta posts on social media could be deemed to be material information. Therefore, Marqeta encourages investors, the media, and others interested in Marqeta to review the information we post on social media channels including the Marqeta X feed (@Marqeta), the Marqeta Instagram page (@lifeatmarqeta), the Marqeta Facebook page, and the Marqeta LinkedIn page. These social media channels may be updated from time to time.
Use of Non-GAAP Financial Measures
Reconciliations of non-GAAP financial measures to the most directly comparable financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section of the tables titled "Information Regarding Non-GAAP Financial Measures".
About Marqeta, Inc.
Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $400 billion in annual payments volume in 2025. Marqeta is certified to operate in more than 40 countries worldwide and counting. Visit www.marqeta.com to learn more.
Marqeta® is a registered trademark of Marqeta, Inc.
Marqeta, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
Three Months Ended March 31,
2026
2025
Net Revenue
$
165,798
$
139,073
Costs of Revenue
48,206
40,394
Gross Profit
117,592
98,679
Operating Expenses:
Compensation and benefits
78,018
86,050
Technology
18,090
14,811
Depreciation and amortization
8,854
5,331
Professional services
4,631
5,695
Occupancy
1,179
917
Marketing and advertising
1,160
469
Other operating expenses
3,566
3,944
Total Operating Expenses
115,498
117,217
Income (Loss) from operations
2,094
(18,538
)
Other income, net
5,933
10,513
Income (Loss) before income tax expense
8,027
(8,025
)
Income tax expense
193
235
Net Income (Loss)
$
7,834
$
(8,260
)
Net income (loss) per share attributable to Class A and Class B common stockholders
Basic
$
0.02
$
(0.02
)
Diluted
$
0.02
$
(0.02
)
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders
Basic
428,602
501,222
Diluted
433,571
501,222
Marqeta, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
March 31,
2026
December 31,
2025
(unaudited)
Assets
Current assets:
Cash and cash equivalents
$
674,790
$
709,443
Restricted cash
280,398
307,593
Short-term investments
37,267
62,483
Accounts receivable, net
45,893
41,422
Network incentives receivable
79,869
61,059
Settlements receivable, net
32,455
18,037
Prepaid expenses and other current assets
37,746
35,278
Total current assets
1,188,418
1,235,315
Property and equipment, net
63,919
59,910
Operating lease right-of-use assets, net
7,506
8,275
Intangible assets, net
48,406
51,388
Goodwill
153,962
154,706
Other assets
14,502
15,439
Total assets
$
1,476,713
$
1,525,033
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
$
789
$
1,847
Revenue share payable
260,144
224,526
Funds payable and amounts due to customers
280,298
306,891
Accrued expenses and other current liabilities
179,905
215,793
Total current liabilities
721,136
749,057
Operating lease liabilities, net of current portion
4,803
5,535
Other liabilities
8,492
8,484
Total liabilities
734,431
763,076
Stockholders' equity:
Common stock
43
43
Additional paid-in capital
1,546,548
1,572,238
Accumulated other comprehensive (loss) income
(310
)
1,509
Accumulated deficit
(803,999
)
(811,833
)
Total stockholders’ equity
742,282
761,957
Total liabilities and stockholders' equity
$
1,476,713
$
1,525,033
Marqeta, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
Three Months Ended March 31,
2026
2025
Cash flows from operating activities:
Net income (loss)
$
7,834
$
(8,260
)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization
8,854
5,331
Share-based compensation expense
20,017
25,915
Non-cash operating leases expense
769
535
Accretion of discount on short-term investments
(34
)
(396
)
Other
(671
)
364
Changes in operating assets and liabilities:
Accounts receivable
(4,631
)
1,312
Network incentives receivable
(18,810
)
1,836
Settlements receivable
(14,418
)
1,795
Prepaid expenses and other assets
(1,531
)
(2,543
)
Accounts payable
(1,058
)
1,023
Revenue share payable
35,618
16,016
Accrued expenses and other liabilities
(34,115
)
(31,837
)
Operating lease liabilities
(1,191
)
(1,104
)
Net cash (used in) provided by operating activities
(3,367
)
9,987
Cash flows from investing activities:
Maturities of short-term investments
25,134
22,186
Capitalization of internal-use software
(7,798
)
(6,059
)
Purchases of property and equipment
(1,279
)
(1,266
)
Net cash provided by investing activities
16,057
14,861
Cash flows from financing activities:
Repurchase of common stock
(39,207
)
(111,310
)
Change in funds payable and amounts due to customers
(26,593
)
—
Taxes paid related to net share settlement of restricted stock units
(8,789
)
(7,101
)
Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options
51
1,444
Net cash used in financing activities
(74,538
)
(116,967
)
Net decrease in cash, cash equivalents, and restricted cash
(61,848
)
(92,119
)
Cash, cash equivalents, and restricted cash- Beginning of period
1,017,931
931,516
Cash, cash equivalents, and restricted cash - End of period
$
956,083
$
839,397
Marqeta, Inc.
Financial and Operating Highlights
(in thousands, except per share data or as noted)
(unaudited)
First Quarter 2026
Fourth Quarter 2025
Third Quarter 2025
Second Quarter 2025
First Quarter 2025
Year over Year Change Q1'26 vs Q1'25
Operating performance:
Net Revenue
$
165,798
$
172,113
$
163,306
$
150,392
$
139,073
19%
Costs of Revenue
48,206
52,138
48,749
46,331
40,394
19%
Gross Profit
117,592
119,975
114,557
104,061
98,679
19%
Gross Margin
71
%
70
%
70
%
69
%
71
%
— ppts
Operating Expenses:
Compensation and benefits
78,018
88,089
84,871
81,409
86,050
(9%)
Technology
18,090
17,150
16,942
16,102
14,811
22%
Depreciation and amortization
8,854
8,160
7,019
6,653
5,331
66%
Professional services
4,631
6,447
5,518
4,219
5,695
(19%)
Occupancy
1,179
948
1,058
843
917
29%
Marketing and advertising
1,160
2,998
895
711
469
147%
Other operating expenses
3,566
4,477
8,624
3,352
3,944
(10%)
Total Operating Expenses
115,498
128,269
124,927
113,289
117,217
(1%)
Income (loss) from Operations
2,094
(8,294
)
(10,370
)
(9,228
)
(18,538
)
111%
Other income, net
5,933
6,557
7,244
8,787
10,513
(44%)
Income (Loss) before income tax expense
8,027
(1,737
)
(3,126
)
(441
)
(8,025
)
nm
Income tax expense
193
(343
)
498
206
235
(18%)
Net Income (Loss)
$
7,834
$
(1,394
)
$
(3,624
)
$
(647
)
$
(8,260
)
nm
Income (Loss) per share - basic
$
0.02
$
0.00
$
(0.01
)
$
0.00
$
(0.02
)
nm
Income (Loss) per share - diluted
$
0.02
$
0.00
$
(0.01
)
$
0.00
$
(0.02
)
nm
TPV (in millions)
$
112,360
$
108,694
$
97,962
$
91,386
$
84,472
33%
Adjusted EBITDA
$
33,338
$
30,677
$
30,310
$
28,509
$
20,081
66%
Adjusted EBITDA margin
20
%
18
%
19
%
19
%
14
%
6 ppts
Financial condition:
Cash and cash equivalents
$
674,790
$
709,443
$
747,248
$
732,722
$
830,897
(19%)
Restricted cash (1)
$
281,292
$
308,488
$
235,413
$
8,500
$
8,500
nm
Short-term investments
$
37,267
$
62,483
$
83,212
$
88,865
$
157,540
(76%)
Total assets
$
1,476,713
$
1,525,033
$
1,488,430
$
1,214,590
$
1,349,627
9%
Total liabilities
$
734,431
$
763,076
$
649,201
$
371,157
$
362,367
103%
Stockholders' equity
$
742,282
$
761,957
$
839,229
$
843,433
$
987,260
(25%)
(1) Restricted cash as of March 31, 2026, December 31, 2025 and September 30, 2025, consists primarily of customer funds held by TransactPay in segregated accounts in connection with its program management activities for card and e-money wallet programs amounting to $280.3 million, $306.9 million and $233.9 million, respectively.
ppts = percentage points
nm - not meaningful
Information Regarding Non-GAAP Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), this press release contains certain non-GAAP financial measures. Marqeta considers Adjusted EBITDA, Adjusted EBITDA Growth, Adjusted EBITDA Margin, Adjusted EBITDA Margin based on Gross Profit, Net Income (Loss) Margin based on Gross Profit, and Adjusted operating expenses as supplemental measures of the Company’s performance that are not required by, nor presented in accordance with GAAP.
We define Adjusted EBITDA as net income (loss) adjusted, as applicable, to exclude depreciation and amortization; share-based compensation expense; payroll tax related to share-based compensation; restructuring and other one-time costs; non-recurring litigation expense; acquisition-related expenses which consist of due diligence costs, transaction costs and integration costs related to potential or successful acquisitions, and cash and non-cash postcombination compensation expenses; income tax expense (benefit); and other income (expense), net, which primarily consists of interest income from our short-term investments and cash deposits, and realized foreign currency gains and losses. We believe that Adjusted EBITDA is an important measure of operating performance because it allows management and our board of directors to evaluate and compare our core operating results, including our operating efficiencies, from period to period. Additionally, we utilize Adjusted EBITDA as an input into our calculation of our annual employee bonus plans and performance-based restricted stock units.
Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by net revenue. Adjusted EBITDA Margin based on Gross Profit is calculated as Adjusted EBITDA divided by Gross Profit, and Net Income (Loss) Margin based on Gross Profit is calculated as Net Income (Loss) divided by Gross Profit. Adjusted EBITDA growth represents the year-over-year percentage change in Adjusted EBITDA. These measures are used by management and our board of directors to evaluate our operating efficiency.
We define Adjusted operating expenses as total operating expenses adjusted, as applicable, to exclude depreciation and amortization; share-based compensation expense; payroll tax related to share-based compensation; restructuring and other one-time costs; non-recurring litigation expense; and acquisition-related expenses which consist of due diligence costs, transaction costs and integration costs related to potential or successful acquisitions, and cash and non-cash postcombination compensation expenses. We believe that Adjusted operating expenses is an important measure of operating performance because it allows management and our board of directors to evaluate and compare our core operating results, including our operating efficiencies, from period to period.
Adjusted EBITDA, Adjusted EBITDA Growth, Adjusted EBITDA Margin, Adjusted EBITDA Margin based on Gross Profit, Net Income (Loss) Margin based on Gross Profit, and Adjusted operating expenses should not be considered in isolation, or construed as an alternative to net loss, or any other performance measures derived in accordance with GAAP, or as an alternative to cash flow from operating activities or as a measure of the Company's liquidity. In addition, other companies may calculate Adjusted EBITDA differently than Marqeta does, which limits its usefulness in comparing Marqeta’s financial results with those of other companies.
The following table shows Marqeta's GAAP results reconciled to non-GAAP results included in this release:
Three Months Ended March 31,
2026
2025
GAAP Net Revenue
$
165,798
$
139,073
GAAP Gross Profit
$
117,592
$
98,679
GAAP Net Income (Loss)
$
7,834
$
(8,260
)
GAAP Net Income (Loss) Margin - % of Net Revenue
5
%
(6
)%
GAAP Net Income (Loss) Margin - % of Gross Profit
7
%
(8
)%
GAAP Total Operating Expenses
$
115,498
$
117,217
Net Income (Loss)
$
7,834
$
(8,260
)
Share-based compensation expense
20,017
25,915
Depreciation and amortization expense
8,854
5,331
Restructuring and other one-time costs(1)
841
2,358
Payroll tax expense related to share-based compensation
820
777
Acquisition-related expenses(2)
712
4,238
Other income, net
(5,933
)
(10,513
)
Income tax expense
193
235
Adjusted EBITDA
$
33,338
$
20,081
Adjusted EBITDA Margin - % of Net Revenue
20
%
14
%
Adjusted EBITDA Margin - % of Gross Profit
28
%
20
%
GAAP Total Operating Expenses
$
115,498
$
117,217
Share-based compensation expense
(20,017
)
(25,915
)
Depreciation and amortization expense
(8,854
)
(5,331
)
Restructuring and other one-time costs(1)
(841
)
(2,358
)
Payroll tax expense related to share-based compensation
(820
)
(777
)
Acquisition-related expenses(2)
(712
)
(4,238
)
Adjusted Operating Expenses
$
84,254
$
78,598
(1) Restructuring and other one-time costs include the costs related to the CEO transition and one-time retention bonuses provided to other key employees. These bonuses have service requirements and are expensed over the requisite service period.
(2) Acquisition-related expenses, including transaction costs, integration costs, and cash and non-cash postcombination compensation expenses, are excluded from Adjusted EBITDA. These expenses are specific to a discrete transaction and do not reflect our ongoing core operations or the recurring expenses required to sustain and operate our business.
A reconciliation of Adjusted EBITDA Growth to the comparable GAAP measure for the second quarter and full year of 2026 is not available due to the challenges and impracticability with estimating some of the items as such items cannot be reasonably predicted and could be significant. Because of those challenges, reconciliations of such forward-looking non-GAAP financial measures are not available without unreasonable effort.
Marqeta (MQ - Free Report) reported $165.8 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 19.2%. EPS of $0.02 for the same period compares to -$0.02 a year ago.
The reported revenue represents a surprise of +0.93% over the Zacks Consensus Estimate of $164.28 million. With the consensus EPS estimate being $0, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Marqeta performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Processing Volume (TPV): $112.36 billion compared to the $111.5 billion average estimate based on two analysts.Revenues- Total platform services, net: $156.23 million versus $156.31 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +18.5% change.Revenues- Other services: $9.57 million compared to the $8.13 million average estimate based on two analysts. The reported number represents a change of +32.9% year over year.View all Key Company Metrics for Marqeta here>>>
Shares of Marqeta have returned +13% over the past month versus the Zacks S&P 500 composite's +9.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Marqeta says embedded finance demand is expanding beyond debit into credit and BNPL.
Card issuing growth was tied to multinational expansion and flexible credential programs.
Marqeta posted GAAP profit as BNPL and expense management volumes climbed.
As embedded finance providers race to move beyond standalone debit cards, Marqeta’s latest earnings on May 5 showed how card issuing platforms are being asked to support a broader mix of lending, buy now, pay later (BNPL) and credit-building products on a global scale.
CEO Mike Milotich said on the company’s earnings call that “multinational card issuers are becoming more and more common as card growth shifts from local banks to FinTechs and enterprises looking to support their customers in many geographies.”
Milotich added that embedded finance providers are looking for “an integrated continuum of products that span debit and credit,” allowing them to serve consumers and small businesses through different stages of their financial lives.
The comments came as Marqeta reported first-quarter total processing volume (TPV) growth of 33% year over year to $112 billion, with lending and BNPL activity remaining among the company’s fastest-growing categories.
Milotich repeatedly emphasized during the call that the market for card issuing is changing from a world centered on either debit or revolving credit into one where issuers want programmable combinations of debit, BNPL, secured credit and installments tied together under a single credential.
“There’s really this continuum where you could start with someone in debit, and then you could start to give them some transaction-based lending,” Milotich said during the analyst Q&A. “With the Flexible Credential, now you could do that on the same card.”
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Card Programs Expand Executives pointed to multinational expansion as another major driver of growth for card issuing programs.
Milotich said 12 of Marqeta’s top 15 customers now use its platform in more than one country, while six customers operate across at least five countries.
Analysts pressed management on whether demand for secured credit and flexible credential programs is broadening across the industry.
“We’re seeing more and more demand,” Milotich said. “If you’re a FinTech or you’re an embedded finance company, you want to be able to serve the entire spectrum of your customer base.”
The company also discussed emerging stablecoin-linked card programs, which management said could allow consumers to spend local fiat currencies from stablecoin balances through traditional card credentials. Larger financial institutions are beginning to explore modernization efforts using virtual card and embedded lending capabilities without fully replacing existing infrastructure.
Profitability Milestone CFO Patti Kangwankij said the company’s financial results reflected both continued growth in lending programs and tighter operational discipline.
“Most notably, we achieved GAAP profitability in the quarter with net income of $8 million,” she said.
Kangwankij said lending, including BNPL, continued growing at “nearly 60%” year over year, while expense management volumes remained above 40% growth.
Executives also said non-Block processing volumes continue to grow more than twice as fast as Block-related volumes, helping diversify Marqeta’s customer concentration.
Despite concerns about consumer spending and macroeconomic conditions, management said it has not yet seen major changes.
“We are not currently seeing any notable shift in spend or consumer behavior,” Kangwankij said while reiterating the company’s full-year revenue and gross profit guidance. Shares were down 3% in after hours trading on Tuesday.
