Constellation Energy zvýšila celoroční výhled upraveného zisku na 11,50 až 12,50 USD na akcii po silném druhém čtvrtletí. Firma zároveň oznámila další dlouhodobé smlouvy na 920 megawattů.
Constellation Energy (CEG -1.52%) reached $412.70 within the past year. As of this writing, shares go for about $274 -- roughly a third below that record. My prediction: shares take the record back before 2030.
The climb that prediction requires is steep but, arguably, not wild. From about $274, returning to $412.70 by the end of 2029 works out to about 13% compound annual appreciation over the next three and a half years.
For scale, Constellation's net income across the trailing 12 months comes to $3.5 billion, on revenue of $31.3 billion. Constellation is also a company whose growth over the rest of the decade is spelled out in advance to an unusual degree.
Earnings growth alone could cover that, if the current trajectory holds.
Image source: Getty Images.
Earnings are climbing fastConstellation, the largest private-sector power producer in the world, earned $9.39 per share on a non-GAAP (adjusted) operating basis in 2025. This month, alongside second-quarter results, management raised its full-year 2026 guidance to a range of $11.50 to $12.50 per share. The $12 midpoint sits 28% above last year's figure.
The second quarter itself ran ahead of that pace. Adjusted operating earnings came in at $2.55 per share, up 34% year over year from $1.91. The company credited the addition of Calpine and favorable market and portfolio conditions.
Worth noting: the adjusted figure is the one guidance runs on, and it sets aside items the company treats as outside its operations. On a GAAP (generally accepted accounting principles) basis, second-quarter earnings were $1.42 per share, down from $2.67 a year earlier, largely on such items. And the operating trend is the one doing the climbing.
In other words, the guidance raise wasn't a rounding tweak. It reflects a business earning meaningfully more than it did a year ago, with half the year still to go.
Demand with signatures on itWhat makes the growth unusual for a power producer, I'd argue, is how much of it is already contracted, and with whom. The buyers include some of the biggest technology companies in the world.
The Crane Clean Energy Center, the Pennsylvania nuclear plant Constellation is restarting under a 20-year power purchase agreement with Microsoft, is expected to return 835 megawatts to the grid in 2027. Two regulatory approvals arrived in recent months. The Nuclear Regulatory Commission approved a fuel license amendment allowing the plant to receive new fuel, and a federal waiver cleared the way for the transfer of existing grid-connection rights to the site.
Meta Platforms, meanwhile, signed its own 20-year agreement in 2025, taking 1,121 megawatts from the Clinton plant in Illinois starting in June 2027 -- a deal that also supports the plant's relicensing and a 30-megawatt boost to its output.
And alongside the latest results, Constellation reported another 920 megawatts of newly signed long-term power purchase agreements, with terms of 15 to 20 years starting between 2029 and 2032.
Each of those contracts starts on a dated schedule. That is what makes the next few years of growth more visible than a power producer's growth usually is.
Today's Change
(
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Current Price
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277.77
The path back: 13% a yearAt about $274, shares trade at about 23 times the midpoint of this year's guidance. Hold the stock's valuation multiple steady, and reaching $412.70 by the end of 2029 requires about $18 of adjusted earnings per share that year. Getting to $18 from this year's $12 midpoint takes about 14% annual growth -- roughly half the rate management just guided to for 2026.
Between Crane's 835 megawatts arriving in 2027, Meta's contract starting the same year, and the new agreements phasing in from 2029, the growth drivers with dates on them stretch across the exact window the prediction covers.
Sure, the market could pay less per dollar of earnings than it does today. Shares have traded between $228.63 and $412.70 over the past year, so the market has already repriced this company sharply in both directions. And the adjusted results lean partly on market conditions that helped this quarter and may reverse. But the prediction doesn't need the price-to-earnings ratio to expand, and it doesn't need a single new contract to be signed. It needs the company to keep growing at about half this year's pace.
My prediction stands. With those contracts in place and the required rate running below the pace management is already delivering, I expect Constellation to be back at its record before 2030.
Spoluzakladatel a CTO JFrog Yoav Landman prodal 45 000 akcií za zhruba 4,1 milionu USD v rámci předem daného plánu 10b5-1. Po transakci mu zůstává přímo 5 448 338 akcií.
Co-founder and Chief Technology Officer Yoav Landman sold 45,000 ordinary shares of JFrog Ltd. (FROG -1.59%) on August 13, 2026, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value~$4.1 millionShares sold (direct)45,000Post-transaction shares (directly held)5,448,338Post-transaction value$518.41 millionTransaction value based on SEC Form 4 weighted average sale price ($90.86); post-transaction value based on August 13, 2026 market close ($95.15).
Key questionsWhat was the underlying driver of this disposition?
The transaction was executed under a Rule 10b5-1 trading plan established on September 1, 2025, which allows insiders to set up a predetermined schedule for selling shares to avoid concerns about trading on non-public information.How significant is the remaining equity position?
Yoav Landman continues to hold ~5.4 million shares directly, and the insider also holds derivative securities. The current transaction represents a minor adjustment to the total position, impacting less than 1% of the insider's direct holdings.What is the company's recent financial and market performance?
As of the August 13, 2026 transaction date, the stock had achieved a 127% one-year return. The company reported trailing twelve-month revenue of $600.0 million and a net loss of -$44.1 million.Company OverviewMetricValueShare Price (as of market close 2026-08-14)$96.17Market Capitalization$11.6 billionRevenue (TTM)$600.0 millionNet Income (TTM)-$44.1 millionCompany SnapshotJFrog delivers a comprehensive DevOps platform featuring JFrog Artifactory, a flexible package repository for storing and managing software packages at scale, alongside JFrog Pipelines, a robust continuous integration and continuous delivery (CI/CD) engine that enables organizations to automate and optimize their software development workflows.The company operates on a subscription-based SaaS model, generating revenue through tiered licensing of its DevOps platform solutions, with customers paying based on usage levels, deployment scale, and feature access across its integrated suite of development and delivery tools.JFrog serves a diverse customer base spanning technology companies, enterprises, and development teams across the United States and globally, targeting organizations of all sizes that require sophisticated software package management and continuous delivery capabilities to accelerate their development cycles.JFrog Ltd. is a market-leading DevOps platform provider with approximately 1,800 employees and a market cap of $11.6 billion, demonstrating significant investor confidence in the software development automation market. The company has achieved substantial revenue scale of $600 million on a trailing 12-month basis while maintaining a strategic focus on expanding its integrated platform capabilities and market penetration within the enterprise DevOps segment.
JFrog's competitive advantage derives from its comprehensive, unified platform approach that consolidates critical DevOps functions -- package management, CI/CD automation, and delivery orchestration -- reducing complexity and integration costs for enterprise customers.
What this transaction means for investorsJFrog co-founder and CTO Yoav Landman's Aug. 13 sale of 45,000 company shares for $90.86 came after the stock had skyrocketed to a 52-week high of $99.22 in July. Even so, his disposition was a non-discretionary transaction conducted under a Rule 10b5-1 trading plan.
This, combined with Landman's massive remaining stake of 5.4 million directly held shares, which ensures his continued alignment with shareholder interests, suggests the sale is not a cause for investor concern.
JFrog shares experienced a dramatic reversal from a 52-week low of $34.05 reached in February thanks to outstanding business performance. The stock had fallen on fears the software-as-a-service sector would be hurt by the rise of artificial intelligence.
Instead, JFrog delivered 29% year-over-year revenue growth to $163.8 million in the second quarter, validating that its business remains robust. The company expects Q3 sales to rise between $164 million and $166 million, representing solid growth from the prior year's $136.9 million.
This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Starting at approximately 2026-08-24 23:00 (UTC), Binance will suspend the deposits and withdrawals of token(s) on the Conflux Network (CFX) network to support its network upgrade and hard fork to ensure the best user experience. The network upgrade and hard fork will take place at approximately 2026-08-25 00:00 (UTC). Please note: The trading of token(s) on the aforementioned network will not be impacted.Binance will handle all technical requirements involved for all users.Deposits and withdrawals for token(s) on the aforementioned network will be reopened once the upgraded network is deemed to be stable. No further announcement will be posted.There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. For more information, please refer to the announcement from the project team. Thank you for your support! Binance Team 2026-08-18
Equinor v rámci třetí tranše programu zpětného odkupu mezi 10. a 13. srpnem koupil 597 632 vlastních akcií za průměrnou cenu 384,3668 NOK za kus. Celkem už v této tranši vykoupil 2 207 004 akcií.
Please see below information about transactions made under the third tranche of the 2026 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).
Date on which the buy-back tranche was announced: 22 July 2026.
The duration of the buy-back tranche: 23 July to no later than 26 October 2026.
Further information on the tranche can be found in the stock market announcement on its commencement dated 22 July 2026, available here: https://newsweb.oslobors.no/message/678529
From 10 August to 13 August 2026, Equinor ASA has purchased a total of 597,632 own shares at an average price of NOK 384.3668 per share.
Overview of transactions:
DateTrading venueAggregated daily volume (number of shares)Daily weighted average share price (NOK)Total daily transaction value (NOK) 10 AugustOSE151,723377.509357,276,843.52 CEUX TQEX 11 AugustOSE148,909391.521958,301,134.61 CEUX TQEX 12 AugustOSE149,000387.605557,753,219.50 CEUX TQEX 13 AugustOSE148,000380.937056,378,676.00 CEUX TQEX Total for the periodOSE597,632384.3668229,709,873.63 CEUX TQEX Previously disclosed buy-backs under the trancheOSE1,609,372380.7320612,739,345.67CEUX TQEX Total1,609,372380.7320612,739,345.67 Total buy-backs under the tranche (accumulated)OSE2,207,004381.7162842,449,219.30CEUX TQEX Total2,207,004381.7162842,449,219.30 Following completion of the above transactions, Equinor ASA owns a total of 16,462,779 own shares, corresponding to 0.69% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 5,741,979 own shares, corresponding to 0.24% of the share capital).
This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Appendix: A overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.
Bitmine Immersion Technologies oznámila, že drží 5,82 milionu ETH, což představuje 4,8 % celkové nabídky, a že její celkové krypto, hotovostní a obchodovatelné cenné papíry plus „moonshots“ činí 11,4 miliardy USD.
Bitmine owns 4.8% of the total ETH coin supply of 120.7 million
Bitmine is 96% of the way to the 'Alchemy of 5%' in just 14 months
In July, ETH outperformed Nasdaq 100 by 2,500 basis points, the largest since July 2025, reflective of the strengthening fundamentals of crypto
Bitmine repurchased 1.7 million shares of common stock in the past week, and has repurchased over 20.8 million shares cumulatively since July 2026 under its previously announced $4 billion share repurchase program
Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026
Bitmine's Series A Preferred Stock is trading on the NYSE under the symbol BMNP
Bitmine has 5,067,309 staked ETH, representing $9.6 billion at $1,893 per ETH. MAVAN (Made in America VAlidator Network) is a premier Ethereum staking destination for BMNR and institutional investors
Bitmine owns $73 million of Eightco (NASDAQ: ORBS), now one of the only publicly listed equities in the world to provide investors indirect exposure to OpenAI
Bitmine Crypto + Total Cash Holdings & Marketable Securities + "Moonshots" total $11.4 billion, including 5.82 million ETH tokens, total cash & marketable securities of $78 million, and other crypto holdings
Bitmine remains supported by a premier group of institutional investors including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas "Tom" Lee to support Bitmine's goal of acquiring 5% of ETH
, /PRNewswire/ -- (NYSE: BMNR) Bitmine Immersion Technologies, Inc. ("Bitmine" or the "Company") a Bitcoin and Ethereum Network company with a focus on the accumulation of crypto for long term investment, today announced Bitmine crypto + total cash & marketable securities + "moonshots" holdings totaling $11.4 billion.
Bitmine Weekly Update
ETH/BTC ratio: Moving above a 1-year downtrend
ETH/BTC ratio: Future tailwinds of Tokenization and AI
STAKING: BMNR now staking over 5 million ETH as of August 16, 2026
As of August 16, 2026 at 9:30pm ET, the Company's crypto holdings are comprised of 5,815,164 ETH at $1,893 per ETH (per CoinbaseNASDAQ: COIN), 210 Bitcoin (BTC), $180 million stake in Beast Industries, $73 million stake in Eightco Holdings (NASDAQ: ORBS) ("moonshots") and total cash & marketable securities of $78 million. Bitmine's ETH holdings are 4.8% of the ETH supply (of 120.7 million ETH).
"We are encouraged to see the ETH/BTC ratio at 0.02994 and rising. This ratio has moved above the long-term downtrend in place over the last few years and is a sign, in our view, that markets are beginning to see materialization of tokenization and agentic-AI applications, which should benefit Ethereum," stated Thomas "Tom" Lee, Chairman of Bitmine. "We expect easing financial conditions to be a tailwind for crypto."
"This ETH/BTC ratio has moved up during crypto bull cycles, driven by increasing use of Ethereum relative to bitcoin. These prior cycles were fueled by ICOs (2017-2018), NFTs (2020-2021), and stablecoins (2025). In this upcoming crypto cycle, we see the ETH/BTC ratio rising, driven by Wall Street tokenizing on the blockchain and by agentic-AI using blockchains," continued Lee.
"We continue to view Bitmine's common shares as undervalued and the Company repurchased 1.7 million shares during the past week, bringing total common equity repurchases to over 20.8 million common shares since the start of July. This buyback remains the largest ever executed by any Ethereum, Bitcoin or crypto DAT (Digital Asset Treasury)," continued Lee. Since July 1, 2026, Bitmine has repurchased 20.8 million shares of common stock under the previously authorized $4 billion share repurchase program.
"Over the past week, we acquired 9,926 ETH. Bitmine has bought ETH every week since the inception of the ETH Treasury Strategy on June 30, 2025 about 14 months ago," stated Lee.
On July 16, 2026, Bitmine released the latest Chairman's Message (link here) for July 2026. The title of the Message is "ETH is the cure for the Uncanny Valley of Wealth."
Earlier in 2026, Bitmine launched MAVAN (the Made in America VAlidator Network), the institutional-grade staking platform. While MAVAN was originally developed to support Bitmine's own Ethereum treasury, MAVAN intends to expand to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure. A portion of Bitmine's ETH is already staked on the MAVAN platform.
As of August 16, 2026, Bitmine total staked ETH stands at 5,067,309 ($9.6 billion at $1,893 per ETH). "Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine's ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $287 million on an annualized basis (using 2.61% 7-day BMNR yield)," stated Lee.
"Annualized staking revenues are now projected at $250 million. And this 5.1 million ETH is 87% of the 5.82 million ETH held by Bitmine. Bitmine's own staking operations generated a 7-day yield of 2.61% (annualized)," continued Lee.
Bitmine's crypto holdings reign as the #1 Ethereum treasury and #2 global treasury, behind Strategy Inc., which reportedly owns 840,447 BTC valued at approximately $58 billion. Bitmine remains the largest ETH treasury in the world.
Bitmine management believes the GENIUS Act and the Securities and Exchange Commission's (SEC) Project Crypto are as transformational to financial services in 2026 as the US action on August 15, 1971, which ended the Bretton Woods system and took the U.S. dollar off the gold standard 55 years ago. This 1971 event was the catalyst for the modernization of Wall Street, creating the iconic Wall Street titans and financial and payment rails of today. These proved to be better investments than gold.
The Chairman's message can be found here:
https://www.Bitminetech.io/chairmans-message
The Fiscal Full Year 2025 Earnings presentation and corporate presentation can be found here: https://Bitminetech.io/investor-relations/
To stay informed, please sign up at: https://Bitminetech.io/contact-us/
About Bitmine
Bitmine Immersion Technologies, Inc. (NYSE: BMNR), together with its subsidiaries ("Bitmine" or the "Company"), is a blockchain technology infrastructure company operating across institutional digital asset staking and validation services, bitcoin mining, and strategic digital asset management. As the world's leading Ethereum Treasury company, it implements an innovative digital asset strategy for institutional investors and public market participants. The Company provides institutional-grade staking and validation infrastructure—through which it earns staking rewards and validation income—alongside bitcoin mining activities. Bitmine holds digital assets strategically, generating yield on those holdings to support liquidity and capital formation. Since 2025, the Company has expanded its blockchain infrastructure capabilities, including developing and deploying MAVAN, its institutional staking and validation platform. The Company's activities further include investments in early-stage blockchain opportunities ("moonshot" investments) and ancillary mining, hosting, and consulting services.
For additional details, follow on X:
https://x.com/bitmnr
https://x.com/fundstrat
Forward Looking Statements
This press release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include all statements that are not purely historical and can generally be identified by terms such as "expects," "projects," "intends," "plans," "believes," "anticipates," "estimates," "forecasts," "targets," "goals," "may," "will," "would," "could," "should," "view," "see," or similar expressions, or the negative of such terms, or other comparable terminology. This press release specifically contains forward-looking statements regarding, among other things: (i) the Company's goal of acquiring 5% of the total ETH supply (the "Alchemy of 5%" initiative) and statements regarding its progress toward this goal; (ii) the Company's digital asset accumulation and treasury strategy, including statements regarding continued weekly ETH acquisitions and the Company's status as the largest ETH treasury in the world; (iii) the Company's staking operations, including projected annualized ETH staking rewards of approximately $287 million (assuming Bitmine's ETH is fully staked by MAVAN and its staking partners at scale), current projected annualized staking revenues of approximately $250 million, and the 7-day yield of 2.61% (annualized); (iv) MAVAN's intended expansion to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure; (v) the Company's $4 billion share repurchase program, including statements regarding the execution, size, and potential accretive value of such program; (vi) management's views regarding the valuation of the Company's common shares and the characterization of such shares as "undervalued"; (vii) expectations regarding the relationship between ETH performance versus Bitcoin or the Nasdaq 100, including statements that ETH outperformed the Nasdaq 100 by 2,500 basis points in July 2026 as "reflective of the strengthening fundamentals of crypto"; (viii) management's expectation that easing financial conditions will be "a tailwind for crypto"; (ix) statements and expectations regarding the ETH/BTC ratio, including that markets are "beginning to see materialization of tokenization and agentic-AI applications, which should benefit Ethereum," and that the ETH/BTC ratio will rise in the upcoming crypto cycle driven by Wall Street tokenization and agentic-AI using blockchains; (x) management's belief that the GENIUS Act and SEC Project Crypto are "as transformational to financial services" as the end of the Bretton Woods system in 1971; (xi) statements regarding the Company's investment in Eightco Holdings (NASDAQ: ORBS) as providing indirect exposure to OpenAI; and (xii) the future growth, advancement, and strategic direction of the Company's Ethereum treasury strategy, blockchain infrastructure capabilities, and MAVAN staking platform.
These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could cause or contribute to such differences include, but are not limited to: the extreme volatility and unpredictability of digital asset prices, including ETH and Bitcoin, and the speculative nature of digital asset investments; changes in market conditions affecting the trading price of the Company's common stock and Series A Preferred Stock; the Company's ability to successfully execute its digital asset acquisition strategy and achieve its ETH accumulation targets, including the "Alchemy of 5%" goal; the Company's ability to finance its business operations, Ethereum treasury operations, MAVAN expansion, and share repurchase activities; operational, security, and technological risks associated with the Company's staking and validation operations, including network failures, slashing events, cybersecurity breaches, and protocol changes; competition in the digital asset treasury, staking, and mining industries; the Company's dependence on key personnel, including executive leadership; regulatory developments affecting digital assets, blockchain technology, and staking activities in the United States and globally, including the ultimate enactment, implementation, and interpretation of the GENIUS Act and other pending legislation and regulatory initiatives; actions by the SEC, CFTC, and other regulatory bodies affecting digital assets and related businesses; risks related to the Company's investments in early-stage blockchain opportunities ("moonshot" investments), including the investment in Eightco Holdings and any indirect exposure to OpenAI; macroeconomic factors, including inflation, interest rates, Federal Reserve monetary policy, labor market conditions, and general economic conditions affecting investor sentiment toward digital assets; the accuracy of management's expectations regarding the ETH/BTC ratio and the impact of tokenization and agentic-AI applications on Ethereum; the unpredictability of cryptocurrency market cycles and the accuracy of expectations regarding future crypto cycles; changes to the Ethereum protocol, including staking mechanics, validator requirements, and reward structures; risks related to AI systems and their potential impact on cryptocurrency markets and blockchain technology; the performance of third-party service providers, exchanges, custodians, and staking partners; risks related to the concentration of the Company's assets in digital currencies, particularly Ethereum; and the other risk factors described in the Company's filings with the SEC.
The forward-looking statements contained in this press release are based on information available to management as of the date of this release and reflect management's current expectations, estimates, forecasts, projections, views, and beliefs concerning future events and circumstances. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including those described above and in the Risk Factors section of the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025 filed with the SEC on November 21, 2025, the Company's Quarterly Reports on Form 10-Q, and the Company's other filings with the SEC, as amended or updated from time to time. Copies of these filings are available on the SEC's website at www.sec.gov and on the Company's website at https://Bitminetech.io/investor-relations/. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Bitmine expressly disclaims any obligation or undertaking to update, revise, or supplement any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statements are based, except as required by applicable law or regulation.
TV Host Jim Cramer has backed ride-hailing giant Uber Technologies Inc. (NYSE:UBER) on Monday, calling it a good long-term stock.
Jim Cramer Says Buy Uber on Lightning RoundOn CNBC’s “Mad Money Lightning Round” show, Cramer shared bullish sentiments on Uber, saying that it was “one great long-term stock” and that he would not be “backing away” from the company’s stock. “The answer is, I am a buyer of Uber,” Cramer said on the show.
Uber Backs Drone DeliveriesThe recommendation comes as Uber recently announced a partnership with drone delivery company Zipline to expand autonomous food delivery across the U.S. using drones on the Uber Eats platform. Following the announcement, the companies have said they are targeting 1 million drone deliveries per day.
Uber’s Robotaxi ExpansionOn the self-driving front, the company has ramped up its Robotaxi efforts, with Uber recently announcing it will expand its offering of self-driving cabs into the Japanese market later this year. The company signed an operational partnership with Japanese fleet operator Hinomaru Kotsu Co. Ltd. to oversee the autonomous fleet operations in Tokyo.
Read Next
Uber also shared that it plans to deploy over 2,000 Pony AI Inc. (NASDAQ:PONY) Robotaxis across multiple European markets following its existing collaboration in the Croatian capital of Zagreb.
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Meanwhile, Co-founder and former Uber CEO Travis Kalanick recently shared that he had no regrets about the company’s failed bid to acquire Lyft Inc. (NASDAQ:LYFT) in 2014. The billionaire cited cultural differences between the two companies as one of the reasons why a deal could not be made.
Price Action: Uber shares dropped 0.12% to $74.90 during overnight trading on Monday.
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Bitmine Immersion Technologies uvedla, že drží 5 815 164 ETH a její celková kryptoaktiva, hotovost a likvidní cenné papíry mají hodnotu 11,4 miliardy dolarů. Firma také za uplynulý týden odkoupila zpět 1,7 milionu akcií.
Bitmine bezit 4,8% van het totale ETH-aanbod van 120,7 miljoen
Bitmine heeft in slechts 14 maanden 96% van het doel van de 'Alchemy of 5%' bereikt
In juli presteerde ETH 2.500 basispunten beter dan de Nasdaq 100, het grootste verschil sinds juli 2025, wat wijst op de steeds sterker wordende fundamentele basis van crypto
Bitmine heeft de afgelopen week 1,7 miljoen gewone aandelen teruggekocht en heeft sinds juli 2026 in totaal meer dan 20,8 miljoen aandelen teruggekocht via het eerder aangekondigde aandeleninkoopprogramma van 4 miljard dollar.
Bitmine werd op 26 juni 2026 opgenomen in de Russell 1000 Large-cap Index
De preferente aandelen van serie A van Bitmine worden op de NYSE verhandeld onder het symbool BMNP
Bitmine heeft 5.067.309 gestakete ETH, wat een waarde vertegenwoordigt van 9,6 miljard dollar bij een koers van 1.893 dollar per ETH. MAVAN (Made in America VAlidator Network) is een toonaangevend Ethereum-stakingplatform voor BMNR en institutionele beleggers
Bitmine bezit voor 73 miljoen dollar aan Eightco-aandelen (NASDAQ: ORBS), nu een van de weinige beursgenoteerde ondernemingen wereldwijd die beleggers indirecte blootstelling aan OpenAI bieden
De totale waarde van de cryptobezittingen, liquide middelen, verhandelbare effecten en 'moonshot'-investeringen van Bitmine bedraagt 11,4 miljard dollar, waaronder 5,82 miljoen ETH-tokens, in totaal 78 miljoen dollar aan liquide middelen en verhandelbare effecten, en andere cryptobezittingen
Bitmine wordt ondersteund door een vooraanstaande groep institutionele beleggers, waaronder Cathie Wood van ARK, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital en privébelegger Thomas 'Tom' Lee, bij zijn doel om 5% van alle ETH te verwerven
, /PRNewswire/ -- (NYSE: BMNR) Bitmine Immersion Technologies, Inc. ('Bitmine' of de 'onderneming'), een Bitcoin- en Ethereum-netwerkonderneming met een focus op het opbouwen van cryptobezittingen voor langetermijninvesteringen, maakte vandaag bekend dat de totale waarde van zijn cryptobezittingen, liquide middelen en verhandelbare effecten, en 'moonshot'-investeringen 11,4 miljard dollar bedraagt.
Bitmine Weekly Update
ETH/BTC ratio: Moving above a 1-year downtrend
ETH/BTC ratio: Future tailwinds of Tokenization and AI
STAKING: BMNR now staking over 5 million ETH as of August 16, 2026
Op 16 augustus 2026 om 21.30 uur (ET) bestaan de crypto-holdings van de onderneming uit 5.815.164 ETH tegen een koers van 1.893 dollar per ETH (via CoinbaseNASDAQ: COIN), 210 Bitcoin (BTC), een belang van 180 miljoen dollar in Beast Industries, een belang van 73 miljoen dollar in Eightco Holdings (NASDAQ: ORBS) ('moonshots') en een totaal aan liquide middelen en verhandelbare effecten van 78 miljoen dollar. De ETH-bezittingen van Bitmine vertegenwoordigen 4,8% van het totale ETH-aanbod van 120,7 miljoen ETH.
"We zijn verheugd om te zien dat de ETH/BTC-ratio 0,02994 is en stijgt. Deze ratio is gestegen boven de neerwaarste trend op lange termijn over de laatste jaren en is volgens ons een teken dat markten de materialisatie van tokenisatie en agentic-AI applicaties beginnen te zien, wat tot voordeel zou moeten strekken voor Ethereum", aldus Thomas 'Tom' Lee, voorzitter van Bitmine. "We verwachten dat versoepelende financiële omstandigheden een rugwind zullen zijn voor crypto."
"Deze ETH/BTC-ratio is gestegen tijdens "crypto bull"-cycli, aangedreveven door hoger gebruik van Ethereum ten opzichte van bitcoin. Deze vorige cycli werden aangespoord door ICO's (2017-2018), NFT's (2020-2021), en stablecoins (2025). In de komende crypto-cyclus zien we de ETH/BTC-ratio stijgen, aangedreven door tokeniseren van Wall Street op de blockchain en door agentic-AI die blockchains gebruikt", vervolgde Lee.
"We blijven van mening dat de gewone aandelen van Bitmine ondergewaardeerd zijn en het bedrijf heeft de afgelopen week 1,7 miljoen aandelen teruggekocht, waardoor het totale aantal teruggekochte gewone aandelen sinds begin juli op meer dan 20,8 miljoen komt. Dit blijft de grootste aandeleninkoop ooit door een Ethereum-, Bitcoin- of andere crypto-DAT (Digital Asset Treasury)", vervolgde Lee. Sinds 1 juli 2026 heeft Bitmine 20,8 miljoen gewone aandelen teruggekocht in het kader van het eerder goedgekeurde aandeleninkoopprogramma van 4 miljard dollar.
"In de afgelopen week hebben we 9.926 ETH aangekocht. Bitmine heeft sinds de start van de ETH-treasurystrategie op 30 juni 2025, ongeveer 14 maanden geleden, elke week ETH gekocht", aldus Lee.
Op 16 juli 2026 heeft Bitmine de meest recente boodschap van de bestuursvoorzitter voor juli 2026 gepubliceerd (link hier). De titel van de boodschap luidt: "ETH is de remedie voor de Uncanny Valley of Wealth".
Eerder in 2026 lanceerde Bitmine MAVAN (het Made in America VAlidator Network), een stakingplatform van institutioneel niveau. Hoewel MAVAN oorspronkelijk werd ontwikkeld ter ondersteuning van Bitmine's eigen Ethereum-treasury, is MAVAN van plan het platform uit te breiden om ook institutionele beleggers, custodians en ecosysteempartners die op zoek zijn naar stakinginfrastructuur van topklasse van dienst te zijn. Een deel van Bitmine's ETH is al gestaket op het MAVAN-platform.
Op 16 augustus 2026 bedroeg het totale aantal door Bitmine gestakete ETH 5.067.309 (9,6 miljard dollar bij een koers van 1.893 dollar per ETH). "Bitmine heeft meer ETH gestaket dan enige andere partij ter wereld. Op volle schaal, wanneer alle ETH van Bitmine via MAVAN en zijn stakingpartners is gestaket, zullen de ETH-stakingbeloningen naar verwachting 287 miljoen dollar op jaarbasis bedragen (uitgaande van een zevendaags BMNR-rendement van 2,61%)", aldus Lee.
"De stakinginkomsten op jaarbasis worden nu geraamd op 250 miljoen dollar. Deze 5,1 miljoen ETH vertegenwoordigen 87% van de 5,82 miljoen ETH die Bitmine aanhoudt. De eigen stakingactiviteiten van Bitmine realiseerden een rendement over 7 dagen van 2,61% (op jaarbasis)", vervolgde Lee.
De cryptobezittingen van Bitmine maken het bedrijf tot de grootste Ethereum-treasury en de op één na grootste treasury ter wereld, na Strategy Inc., dat naar verluidt 840.447 BTC bezit met een waarde van ongeveer 58 miljard dollar. Bitmine blijft de grootste ETH-treasury ter wereld.
Het management van Bitmine is van mening dat de GENIUS Act en Project Crypto van de Amerikaanse Securities and Exchange Commission (SEC) in 2026 net zo ingrijpend zijn voor de financiële dienstverlening als het besluit van de Verenigde Staten van 15 augustus 1971, waarmee 55 jaar geleden een einde werd gemaakt aan het Bretton Woods-systeem en de koppeling van de Amerikaanse dollar aan goud werd losgelaten. Deze gebeurtenis in 1971 vormde de katalysator voor de modernisering van Wall Street en leidde tot het ontstaan van de huidige toonaangevende spelers op Wall Street en de huidige financiële en betalingsinfrastructuur. Deze bleken uiteindelijk betere investeringen dan goud.
Het bericht van de bestuursvoorzitter vindt u hier:
https://www.Bitminetech.io/chairmans-message
De resultatenpresentatie voor het volledige boekjaar 2025 en de ondernemingspresentatie vindt u hier: https://Bitminetech.io/investor-relations/
Om op de hoogte te blijven, kunt u zich aanmelden via: https://Bitminetech.io/contact-us/
Over Bitmine
Bitmine Immersion Technologies, Inc. (NYSE: BMNR), samen met zijn dochterondernemingen ('Bitmine' of de 'onderneming') vormen een onderneming voor blockchaintechnologie-infrastructuur die actief is op het gebied van institutionele staking- en validatiediensten voor digitale activa, en strategisch beheer van digitale assets. Als 's werelds toonaangevende onderneming op het gebied van Ethereum-treasury's hanteert Bitmine een innovatieve strategie voor digitale activa, gericht op institutionele beleggers en deelnemers aan de openbare kapitaalmarkten. De onderneming biedt staking- en validatie-infrastructuur van institutionele kwaliteit, waarmee ze stakingbeloningen en inkomsten uit validatie genereert, en houdt zich daarnaast bezig met bitcoinmining. Bitmine houdt digitale activa strategisch aan en genereert rendement op die activa ter ondersteuning van de liquiditeit en kapitaalvorming. Sinds 2025 heeft de onderneming haar capaciteiten op het gebied van blockchaininfrastructuur uitgebreid, waaronder de ontwikkeling en implementatie van MAVAN, haar institutionele platform voor staking en validatie. De activiteiten van de onderneming omvatten verder investeringen in veelbelovende blockchainprojecten in een vroege fase ('moonshot'-investeringen), evenals aanvullende diensten op het gebied van mining, hosting en consultancy.
Volg voor aanvullende informatie op X:
https://x.com/bitmnr
https://x.com/fundstrat
Toekomstgerichte verklaringen
Dit persbericht bevat verklaringen die kunnen worden aangemerkt als 'toekomstgerichte verklaringen' in de zin van de Private Securities Litigation Reform Act van 1995, zoals gewijzigd. Toekomstgerichte verklaringen omvatten alle verklaringen die niet uitsluitend historisch van aard zijn en die over het algemeen kunnen worden herkend aan termen zoals 'verwacht', 'raamt', 'is van plan', 'plant', 'gelooft', 'anticipeert', 'schat', 'voorspelt', 'streeft naar', 'doelstellingen', 'kan', 'zal', 'zou', 'zou kunnen', 'zou moeten', 'beschouwen', 'zien, of soortgelijke uitdrukkingen, of de ontkenning van dergelijke termen, of andere vergelijkbare terminologie. Dit persbericht bevat specifiek toekomstgerichte verklaringen met betrekking tot onder meer: (i) de doelstelling van het bedrijf om 5% van de totale ETH-aanbod te verwerven (het initiatief 'Alchemy of 5%') en verklaringen over de voortgang richting deze doelstelling; (ii) de accumulatie van digitale activa en de treasurystrategie van het bedrijf, waaronder verklaringen over de voortzetting van wekelijkse ETH-aankopen en de status van het bedrijf als de grootste ETH-treasury ter wereld; (iii) de stakingactiviteiten van het bedrijf, waaronder verwachte geannualiseerde ETH-stakingbeloningen van ongeveer 287 miljoen dollar (ervan uitgaande dat de ETH van Bitmine volledig wordt gestaket door MAVAN en zijn stakingpartners op volle schaal), de huidige verwachte geannualiseerde stakinginkomsten van ongeveer 250 miljoen dollar en het rendement over 7 dagen van 2,61% (geannualiseerd; (iv) de beoogde uitbreiding van MAVAN om institutionele beleggers, custodians en ecosysteempartners te bedienen die op zoek zijn naar stakinginfrastructuur van topniveau; (v) het aandeleninkoopprogramma van het bedrijf ter waarde van 4 miljard dollar, waaronder verklaringen over de uitvoering, omvang en mogelijke waardeverhogende impact van een dergelijk programma; (vi) de opvattingen van het management over de waardering van de gewone aandelen van de onderneming en de karakterisering van deze aandelen als "ondergewaardeerd"; (vii) verwachtingen inzake de relatie tussen de prestaties van ETH ten opzichte van Bitcoin of de Nasdaq 100, waaronder verklaringen dat ETH beter presteerde dan de Nasdaq 100 met 2.500 basispunten in juli 2026 als "wat wijst op de steeds sterker wordende fundamentele basis van crypto"; (viii) de verwachting van het management dat versoepelende financiële omstandigheden "een rugwind zullen zijn voor crypto"; (ix) verklaringen en verwachtingen over de ETH/BTC-ratio, waaronder dat markten "de materialisatie van tokenisatie en agentic-AI applicaties beginnen te zien, wat tot voordeel zou moeten strekken voor Ethereum" en dat de ETH/BTC-ratio zal stijgen in de komende crypto-cyclus aangedreven door tokenisering van Wall Street en agentic-AI die blockchains gebruiken; (x) de overtuiging van het management dat de GENIUS Act en SEC Project Crypto "een even transformerende impact hebben op financiële diensten" als het einde van het Bretton Woods systeem in 1971; (xi) verklaringen over de investering van de onderneming in Eightco Holdings (NASDAQ: ORBS) als een investering die indirecte blootstelling aan OpenAI biedt; en (xi) de toekomstige groei, ontwikkeling en strategische richting van de Ethereum-treasurystrategie, de blockchaininfrastructuurcapaciteiten en het MAVAN-stakingplatform van de onderneming.
Deze toekomstgerichte verklaringen brengen aanzienlijke risico's en onzekerheden met zich mee die ertoe kunnen leiden dat de werkelijke resultaten wezenlijk afwijken van de resultaten die hierin worden uitgedrukt of geïmpliceerd. Factoren die dergelijke verschillen kunnen veroorzaken of daaraan kunnen bijdragen, omvatten onder meer, maar zijn niet beperkt tot: de extreme volatiliteit en onvoorspelbaarheid van prijzen van digitale activa, waaronder ETH en Bitcoin en de speculatieve aard van investeringen in digitale activa; veranderingen in marktomstandigheden die van invloed zijn op de handelsprijs van de gewone aandelen en preferente aandelen van serie A van het bedrijf; het vermogen van het bedrijf om zijn strategie voor de verwerving van digitale activa succesvol uit te voeren en zijn doelstellingen voor de opbouw van ETH-bezittingen te behalen, waaronder de doelstelling "Alchemie van 5%"; het vermogen van het bedrijf om zijn bedrijfsactiviteiten, Ethereum-treasuryactiviteiten, de uitbreiding van MAVAN en aandeleninkoopactiviteiten te financieren; operationele, beveiligings- en technologische risico's verbonden aan de staking- en validatieactiviteiten van het bedrijf, waaronder netwerkstoringen, cyberbeveiligingsinbreuken en protocolwijzigingen; concurrentie in de sectoren van digitale-activatreasury's, staking en mining; de afhankelijkheid van het bedrijf van belangrijke medewerkers, waaronder de leidinggevenden; regelgevende ontwikkelingen die van invloed zijn op digitale activa, blockchaintechnologie en stakingactiviteiten in de Verenigde Staten en wereldwijd, waaronder de uiteindelijke goedkeuring, implementatie en interpretatie van de GENIUS Act, CLARITY Act en andere aanhangige wetgeving en regelgevende initiatieven; acties van de SEC, CFTC en andere toezichthoudende instanties die van invloed zijn op digitale activa en aanverwante activiteiten; risico's verbonden aan de investeringen van het bedrijf in blockchainmogelijkheden in een vroeg stadium ('moonshot'-investeringen), waaronder de investering in Eightco Holdings; macro-economische factoren, waaronder inflatie, rentetarieven, het monetaire beleid van de Federal Reserve en algemene economische omstandigheden die van invloed zijn op het beleggerssentiment ten aanzien van digitale activa; de nauwkeurigheid van de verwachtingen van het management over de ETH/BTC-ratio en de impact van tokenisatie en agentic-AI applicaties op Ethereum; de onvoorspelbaarheid van cryptomarktcycli en de nauwkeurigheid van verwachtingen over toekomstige crypto-cycli; wijzigingen in het Ethereum-protocol, waaronder stakingmechanismen, vereisten voor validators en beloningsstructuren; risico's verbonden aan AI-systemen en hun mogelijke impact op cryptomarkten en blockchaintechnologie; de prestaties van externe dienstverleners, beurzen en custodians; risico's verbonden aan de concentratie van de activa van het bedrijf in digitale valuta's, voornamelijk Ethereum; en de overige risicofactoren beschreven in de documenten die het bedrijf bij de SEC heeft ingediend.
De toekomstgerichte verklaringen in dit persbericht zijn gebaseerd op informatie waarover het management beschikte op de datum van dit persbericht en weerspiegelen de huidige verwachtingen, ramingen, prognoses, meningen en overtuigingen van het management met betrekking tot toekomstige gebeurtenissen en omstandigheden. De werkelijke resultaten kunnen wezenlijk afwijken van de resultaten die in toekomstgerichte verklaringen worden uitgedrukt of geïmpliceerd op basis van een aantal factoren, waaronder de hierboven beschreven factoren en de factoren die zijn beschreven in het gedeelte Risicofactoren van het jaarverslag van het bedrijf op formulier 10-K voor het boekjaar dat eindigde op 30 september 2025, ingediend bij de SEC op 21 november 2025, de kwartaalverslagen van het bedrijf op formulier 10-Q en de overige documenten die het bedrijf bij de SEC heeft ingediend, zoals deze van tijd tot tijd worden gewijzigd of bijgewerkt. Kopieën van deze documenten zijn beschikbaar op de website van de SEC via [www.sec.gov] en op de website van het bedrijf via https://Bitminetech.io/investor-relations/. Het bedrijf waarschuwt lezers om niet overmatig te vertrouwen op dergelijke toekomstgerichte verklaringen, die alleen gelden op de datum waarop ze worden gedaan. Bitmine wijst uitdrukkelijk elke verplichting of toezegging af om toekomstgerichte verklaringen bij te werken, te herzien of aan te vullen om rekening te houden met wijzigingen in zijn verwachtingen of wijzigingen in gebeurtenissen, omstandigheden of situaties waarop dergelijke verklaringen zijn gebaseerd, behalve indien dit wordt vereist door toepasselijke wet- of regelgeving.
TransMedics uvedla, že její program pro transplantace ledvin by mohl oslovit téměř 30 000 ročních zákroků a podpořit dlouhodobý růst tržeb nad 2 miliardy USD. Firma zároveň potvrdila roční výhled tržeb 737 až 757 milionů USD.
Mid-Cap Marvels: 3 Stocks That Crushed Sales Estimates in MayTransMedics Group NASDAQ: TMDX outlined its growth strategy at Canaccord Genuity’s 46th Annual Global Growth Conference, highlighting investments in kidney transplantation, European expansion, next-generation technology and broader adoption in heart and lung transplantation.
Waleed Hassanein, TransMedics’ president, CEO and founder, said the company has built a vertically integrated organ transplantation platform intended to increase the availability of donor organs and improve transplant outcomes. The platform includes its Organ Care System, or OCS, the National OCS Program procurement network, dedicated air and ground logistics, the NOP Connect digital platform, and donor and recipient screening services.
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3 Medical Technology Stocks Outperforming in 2025Hassanein said TransMedics operates from 20 U.S. hubs, owns and operates 22 aircraft dedicated to organ transplant missions, and employs about 50 procurement surgeons and staff as well as more than 250 clinical coordinators and specialists.
The company said it has averaged 86% compound annual revenue growth over the last three years, is profitable and generates free cash flow. It ended its most recent quarter with more than $472 million on its balance sheet and reiterated annual revenue guidance of $737 million to $757 million, representing growth of 22% to 25%.
Margin Outlook and Kidney Investment 3 High-Growth Stocks Traders Love and Investors Should WatchDuring the fireside chat, Hassanein and Chief Financial Officer Gerardo Hernandez addressed investor questions surrounding the company’s profitability targets and increased investment spending.
Hernandez said TransMedics continues to expect to reach, or approach, a 30% adjusted operating margin by 2028 or when it reaches 10,000 transplants. He said the company’s 2026 operating-margin guidance of 12.5% to 14% incorporates planned spending for the year, with incremental investment in the OCS kidney program accounting for much of the step-up in expenses.
For 2027, Hernandez said operating expenses are expected to rise by roughly the low teens, rather than at the higher rate seen in 2026. He said the company expects an acceleration in growth and improvement in operating margin next year.
Kidney transplantation is among TransMedics’ principal growth initiatives. Hassanein said there were approximately 21,000 deceased-donor kidney transplants in the U.S. last year, while nearly 10,000 kidneys were discarded because of extended preservation time. He said the company believes its kidney program could address close to 30,000 annual procedures.
Hassanein said the kidney opportunity is supported by potential savings for the Centers for Medicare & Medicaid Services. He cited an estimated $10.5 billion annual cost for maintaining roughly 100,000 patients on the national kidney waiting list, along with an estimated $150 million to $250 million in annual costs related to delayed graft function following transplantation.
He said OCS kidney pricing could be in the range of $40,000 to $45,000 plus logistics costs, rather than the price levels associated with some of the company’s existing organ programs. According to Hassanein, the company expects kidney-related costs to be reimbursable as organ acquisition costs, with CMS serving as the payer.
International Expansion and Aviation Strategy TransMedics also discussed its expansion into Europe, including its acquisition of PAD Aviation. Hassanein said the company acquired PAD primarily to obtain the operating license needed to bid on European transplant-logistics tenders, rather than to operate it as a traditional charter business.
“PAD is only acquiring a license so we can bid on tens of millions of EUR tenders,” Hassanein said.
He said PAD has six leased aircraft and does not own aircraft. TransMedics does not plan to make substantial capital investments in aircraft until it sees sufficient demand and tender awards, he said. The company expects PAD to have a small, temporary near-term effect on profit and loss results and plans to discuss its financial performance in more detail during its third-quarter call.
Hassanein said the goal is to transition PAD into a transplant-focused logistics business within the TransMedics Aviation group.
OCS Adoption, Regulatory Studies and OPO Opportunity The company identified further heart and lung adoption as another growth opportunity. Hassanein said TransMedics is pursuing access to more than 5,200 to 5,400 annual U.S. heart and lung cases through both the OCS platform and CHOPS, a lower-priced cold-preservation technology.
On the status of CHOPS, Hassanein said a competitor’s decision not to compare its technology against OCS led TransMedics to revise the planned study. The company now expects to conduct a 600-patient study using its own platform, including 200 CHOPS cases and 400 OCS cases.
Hassanein also addressed questions about the potential for TransMedics to obtain an organ procurement organization, or OPO, license. He said the decision rests with CMS and the Health Resources and Services Administration and that the company is not relying on an OPO designation in its operating plans.
If TransMedics does not receive an OPO license, “nothing changes,” Hassanein said, adding that the company would continue its existing strategy. If selected, he said the company believes its integrated procurement, preservation and logistics platform could help make more organs available to patients.
Finally, Hassanein said the company saw no increase in “dry runs” during the second quarter and that such cases had no impact on its quarterly revenue or performance. He described dry runs as donor cases that do not ultimately materialize.
Management said its strategic investments are intended to support a path toward a multibillion-dollar revenue base, with Hassanein citing a long-term opportunity of more than $2 billion in revenue.
About TransMedics Group (NASDAQ:TMDX)TransMedics Group, Inc is a medical device company headquartered in Andover, Massachusetts, that specializes in advanced organ preservation and transport systems for transplantation. The company's flagship technology, the Organ Care System (OCS), maintains donor organs in a near-physiologic, warm, beating state during transportation, with the aim of extending preservation times and improving post‐transplant outcomes. TransMedics' solutions address a critical need in transplantation by reducing ischemic injury and expanding the donor organ pool.
TransMedics currently markets two commercially available OCS platforms.
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Bloom Energy uvedla, že vidí potenciál pro 25 gigawattů nasazení, což by při současné ekonomice znamenalo tržby v řádu desítek miliard USD. Firma zároveň zvýšila celoroční výhled tržeb na 3,9 až 4,2 miliardy USD.
Bloom Energy (BE +0.96%) recently said that it has visibility on 25 gigawatts of deployments, which is the kind of line that makes you stop and do the math (and consider an investment). On the second-quarter earnings call, management laid out the scandium and capacity story in a way that stuck with many investors.
K.R. Sridhar, Bloom's CEO, said:
The three takeaways for you all as investors to understand are the following: there is enough scandium on the planet that can be recovered economically viably to power of the planet. That is what's available on the planet. We have visibility currently based on what we are working for 25 gigawatts of like deployments. And we are not dependent on China.
This is a strong statement that Bloom believes it can scale up solid-oxide fuel cell deployments to tens of gigawatts without hitting resource or supply chain constraints for scandium, a chemical element that improves fuel cell performance.
Image source: Getty Images.
Great numbers recently The recent numbers back up that confidence. The company just reported record second-quarter revenue of $1.065 billion, its first billion-dollar quarter, with sales up 166% year over year and 42% sequentially. Product revenue reached $935 million, up 215% from a year earlier, driven mainly by orders from artificial intelligence (AI) data centers and other large power users.
Adjusted earnings jumped to $0.78 per share, nearly double the consensus estimate, and the company raised full-year 2026 guidance to ranges of $3.9 billion to $4.2 billion in revenue, $800 million to $900 million of operating income, earnings per share (EPS) of $2.55 to $2.85, and a gross margin of around 34%.
Bloom's earlier guidance and capacity plans help translate that into a rough value per gigawatt. In the first quarter, management said its current manufacturing footprint will allow it to deliver 5 gigawatts of product annually and raised 2026 revenue guidance into the mid-$3 billion range before this latest bump.
Put those pieces together, and a reasonable estimate is that each gigawatt of commercial product capacity supports $700 million to $800 million of annual revenue at the current mix, with gross margins in the mid-30% range and rising operating leverage. If Bloom can ultimately deploy 25 gigawatts of systems over a decade or so, you are talking about a cumulative revenue opportunity in the tens of billions of dollars, not counting service income and upgrades. That is before you factor in the 2.8-gigawatt master agreement with Oracle and the expansion of the deal with Brookfield from $5 billion to $25 billion for on-site data center power.
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AI power demand considerations The link between AI power demand and electricity is direct: Bloom's solid-oxide fuel cells convert natural gas or hydrogen to electricity at high efficiency. Its systems sit in data centers, deliver multi-megawatt blocks of always-on power within months rather than years, and avoid the transmission constraints utilities face when serving new AI campuses. In its AI-focused commentary, management describes a vast addressable market where every new cluster that needs fast, resilient, lower-carbon power is a candidate for on-site fuel cell arrays, either instead of or alongside a hookup to the local grid.
That is where the utility angle comes in. AI data centers will still rely heavily on the grid for baseload and backup power. Analysts now talk about U.S. AI power demand rising from single-digit gigawatts to well north of 100 gigawatts in little more than a decade.
Right now, Wall Street spends most of its AI time on the chips and the models. Micron, Nvidia, and others deserve that attention, but the power layer is just as important. Bloom's 25-gigawatt visibility is one piece of that power story. The utilities that will feed the grid side of those same loads are another.
So, if the company can ultimately deploy 25 gigawatts of systems at something like today's economics, it is looking at a revenue opportunity that easily runs into the tens of billions of dollars over the life of those assets. That makes Bloom Energy a compelling investment choice right now.
Universal Health Services dokončila akvizici Talkspace, čímž vytvořila první plné kontinuum behaviorální péče v USA. Spojuje virtuální platformu s nemocnicemi a ambulantní sítí.
Creates nation's first full continuum of behavioral healthcare services, supporting people across every stage of their mental health journey
, /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) today announced the successful completion of its acquisition of Talkspace, Inc. (NASDAQ: TALK), bringing together one of the nation's largest providers of healthcare services with a leading virtual behavioral health platform to redefine how mental healthcare is accessed and delivered.
Talkspace's virtual care platform complements UHS' extensive network of affiliated behavioral health facilities, acute care hospitals and outpatient locations, creating an end-to-end behavioral health ecosystem that connects care across settings and levels of need*.
By making transitions between levels of care more seamless – from virtual support, counseling, therapy and psychiatry to outpatient programs, to crisis intervention, inpatient treatment and specialized care – the combined offerings position the organization moving forward to support patients throughout their mental health journey.
"We're at an inflection point in how mental healthcare is delivered," said Marc D. Miller, President and CEO of UHS. "People deserve a system that is easy to navigate, connected across care settings and built around their evolving needs. The addition of Talkspace expands our ability to connect people with care when, where and how they need it most. And we are strengthening the connection between behavioral and physical health for overall wellbeing."
Talkspace serves individuals across all 50 states, Washington, D.C., and Puerto Rico through a network of approximately 6,000 licensed providers whose services are currently available to more than 200 million people through health insurance plans, employers, employee assistance programs, schools and government organizations. Talkspace also offers self-pay options.
Talkspace recently introduced Tee, its AI-powered, purpose-built mental health guide developed to meet HIPAA privacy standards and provide subscribers with real-time support and feedback. Tee can assist individuals between appointments or as a standalone supportive companion.
"Joining UHS allows us to accelerate the mission that has guided Talkspace from the beginning: making high-quality mental healthcare more accessible to more people," said Jon R. Cohen, M.D., CEO of Talkspace. "Together, we're excited to create a nationwide network of care that brings virtual, outpatient and inpatient care together to better support patients, clinicians and communities."
As demand for behavioral health services continues to grow, the combined organization is positioned to offer patients greater flexibility and choice while improving care coordination across settings. The integrated model also strengthens support for employers, health plans and community partners seeking scalable, evidence-based mental healthcare solutions.
The transaction was originally announced on March 9, 2026, and has now received all necessary regulatory approvals and satisfied customary closing conditions. The companies will begin working together immediately to thoughtfully integrate capabilities while ensuring uninterrupted service for patients, providers and partners.
* Treating practitioners are individually licensed and exercise independent professional judgment in diagnosing and treating patients consistent with their training, scope of practice, and licensure.
About UHS
Headquartered in King of Prussia, PA, Universal Health Services, Inc. (NYSE: UHS) is one of the nation's largest and most respected providers of hospital and healthcare services, with annual revenues of approximately $17.4 billion during 2025. Through its subsidiaries, UHS employs more than 101,500 individuals and operates 30 inpatient acute care facilities, more than 380 inpatient behavioral health facilities and approximately 170 outpatient and other facilities across 40 states, Washington, D.C., Puerto Rico, Ireland and the United Kingdom. Through its subsidiaries, UHS also offers an insurance offering, a physician network and various related services in the United States.
Since our founding in 1979, UHS has grown steadily into a premier Fortune 500® corporation perennially recognized by multiple esteemed national rating entities. Our strategy includes investing in talented staff, facilities, technology and innovation across broad care continuums to deliver favorable patient outcomes and contribute to the overall health and wellbeing of the patients we are privileged to serve. A wholly-owned subsidiary of UHS also acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE: UHT). For additional information, please visit www.uhs.com.
About Talkspace, a Universal Health Services, Inc. Subsidiary
Talkspace, a Universal Health Services, Inc. subsidiary, is a leading virtual behavioral healthcare provider committed to helping people lead healthier, happier lives through access to high-quality mental healthcare. Through its subsidiaries and affiliates, Talkspace offers a comprehensive suite of mental health services – including therapy for individuals, teens, and couples as well as psychiatry and medication management. Among its offerings is Tee, a standalone, clinician-informed AI mental health guide available to those 18+ for 24/7 behavioral support.
With Talkspace's core therapy offerings, members are matched with one of thousands of affiliated licensed therapists within days and can engage in live video, audio, or chat sessions, and/or unlimited asynchronous text messaging sessions.
Forward-Looking Statements
This press release contains "forward-looking" statements based on UHS and/or Talkspace's management expectations. Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in UHS and Talkspace's respective filings with the Securities and Exchange Commission (the "SEC") (as set forth in Item 1A-Risk Factors, and Item 7-Forward-Looking Statements and Risk Factors, in UHS' Annual Report on Form 10-K for the year ended December 31, 2025 and Item 2-Forward-Looking Statements and Risk Factors in UHS' Quarterly Report on Form 10-Q for the period ended June, 30, 2026, and Item 1A, Risk Factors in Talkspace's Annual Report on Form 10-K for the year ended December 31, 2025 and Item 2-Forward-Looking Statements in Talkspace' Quarterly Report on Form 10-Q for the period ended June, 30, 2026), may cause the results to differ materially from those anticipated in the forward-looking statements. These statements are subject to risks and uncertainties and therefore actual results may differ materially. Those risks and uncertainties include: the occurrence of any event, challenges, disruptions and costs of integrating the business and achieving anticipated synergies, or that such synergies will take longer to realize than expected; failure to retain key employees of Talkspace; failure to retain a significant portion of Talkspace's providers or relationships with payors, risks that the merger and other transactions contemplated by the merger disrupt current plans and operations that may harm the businesses or divert management's attention from ongoing business operations; the amount of any costs, fees, expenses, impairments and charges related to the merger including costs and use of capital related to financing the merger; and uncertainty as to the effects of the merger on the market price of UHS. Readers should not place undue reliance on such forward-looking statements which reflect UHS and/or Talkspace's management's view only as of the date hereof. UHS undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Reliance Worldwide Corporation uzavřela s Brookfield Capital Partners dohodu o postupu po nevyžádané nabídce na převzetí za 4,75 AUD za akcii v hotovosti. Nabídka oceňuje RWC zhruba na 4,1 miliardy AUD.
Heath Sharp - CEO, MD & Director
Andrew Johnson - Executive VP & Chief Financial Officer
Conference Call Participants
Ramoun Lazar - Jefferies LLC, Research Division
Samuel Seow - Citigroup Inc., Research Division
Brook Campbell-Crawford - Barrenjoey Markets Pty Limited, Research Division
Peter Steyn - Macquarie Research
Harry Saunders - E&P, Research Division
Lee Power - JPMorgan Chase & Co, Research Division
Keith Chau - MST Financial Services Pty Limited, Research Division
Daniel Sykes - Jarden Limited, Research Division
Nathan Reilly - UBS Investment Bank, Research Division
Presentation
Operator
Thank you for standing by, and welcome to the Reliance Worldwide Corporation Full Year Earnings Call. [Operator Instructions]
I would now like to hand the conference over to Heath Sharp, CEO. Please go ahead.
Heath Sharp
CEO, MD & Director
Good morning, everyone. Welcome to RWC's Financial Year 2026 Results Call. This is Heath Sharp, and I'm joined here in Sydney by Andrew Johnson, our CFO.
This morning, we released our full year results material. But before we turn to the results, I want to deal with our second announcement this morning. So let's start on Slide 3 of our presentation.
RWC has entered into a process deed with Brookfield Capital Partners on August 17. This relates to Brookfield's unsolicited nonbinding indicative proposal to acquire RWC for AUD 4.75 cash per share. The proposal follows earlier approaches from Brookfield at $4.15, $4.25 and $4.50 per share, which the board considered insufficient.
Following a period of engagement including providing Brookfield with nonpublic information over an approximately 8-week period, Brookfield submitted its current $4.75 proposal. The proposal values RWC at an enterprise value of approximately AUD 4.1 billion. This represents an FY '26 EV-to-EBITDA multiple of 12.9x on a pre-AASB 16 basis. This is at the upper end of
Today, money moves faster than ever before, especially with stablecoins — digital assets designed to maintain stable value against, in most cases, a backing asset. Over roughly the past decade, stablecoins backed by US dollars (and equivalents) have taken center stage among other fiat-pegged stablecoins, benefiting from more liquidity, transaction volume, and opportunities for stress testing. Stablecoins pegged to other local currencies, like euros, in comparison have broadly experienced a slower adoption curve and shallower liquidity.
For years, users looking to transact in euro-pegged stablecoins often had to use dollar stablecoins to on/offramp or as intermediary assets when trading, accept shallower euro-denominated onchain liquidity, or rely on bridges that weren’t built for long-term trust. What’s been missing for institutions, enterprises, and builders are euro-pegged digital assets that people can actually use day to day: easy to access, widely supported, and consistently redeemable at par.
That’s what EURC is built to be. And it’s why EURC has now surpassed €400 million in circulation, a milestone for euro liquidity in the onchain economy.
Over the past year, EURC’s supply increased by more than 100%, as the market moved from experimentation to real usage across exchanges, payment flows, and institutional workflows that demand reliability and compliance. EURC is now the most widely distributed and widely used euro stablecoin, supported across major blockchains, exchanges, and payment networks. It’s also built to evolve and grow with demand for digital asset use cases — like settlement, FX, and treasury use cases — that demand compliance, auditability, and 24/7 reliability. The result is a euro-pegged stablecoin with distribution, utility, and reliability that’s gaining ground through ongoing performance as the leading euro stablecoin.
Expanding liquidity across the ecosystemEURC launched on Ethereum in June of 2022, bringing Circle’s fully reserved stablecoin model to euro-denominated markets. Starting in 2023, EURC expanded natively across major blockchains, including Avalanche, Stellar, Solana, and Base — strategically aligning with ecosystems where liquidity and developer activity were strong.
By the end of 2024, EURC was live on five chains and had grown to approximately €80 million in circulation. That number more than doubled in the first half of 2025 and continued climbing throughout the year.
Distribution also scaled through centralized venues. EURC was listed on major exchanges including Bitpanda, Bitstamp, Bybit, Coinbase, and Kraken. This exchange support deepened liquidity for both EURC/EUR and EURC/USD trading pairs, reducing euro-to-dollar conversion friction and establishing EURC as a top-tier euro stablecoin.
Integrating into the financial stackDistribution may drive awareness but utility drives retention. EURC’s growth accelerated as it became embedded into real financial workflows, where speed, transparency, and reliability matter.
Multiple leading onramp and offramp providers like Mercuryo, MoonPay, Ramp, and Transak enabled users to access digital assets directly with euros. This bypassed the inefficiency of intermediary dollar conversions.
EURC also became integrated into institutional custody and settlement platforms, including Cobo, Copper, and Fireblocks. These integrations, particularly following the rollout of the Markets in Crypto-Assets (MiCA) regulation, enabled regulated firms to use EURC for treasury, settlement, and payments.
In 2024 and 2025, Visa and Mastercard both expanded their respective euro stablecoin settlement capabilities to include EURC. This unlocked real-world use cases for cross-border payments, card-linked flows, and euro-native settlement.
Together, these integrations helped translate EURC’s promise into tangible value: faster reconciliation, around-the-clock liquidity access, and programmable money infrastructure that meets enterprise requirements.
Operating transparently EURC’s continued growth is also closely tied to rising regulatory clarity and Circle’s operational discipline.
In December of 2024, MiCA became fully applicable across the EU, establishing requirements for euro stablecoins around reserve backing, governance, disclosures, and redemption rights. MiCA didn’t necessarily create inherent demand for euro stablecoins, but it cleared the path for serious institutional and enterprise adoption.
Circle designed EURC to operate as an e-money token (EMT) under MiCA — issued by Circle’s e-money institution in France, supervised by the ACPR, and held to a full-reserve standard. Reserve assets are fully segregated from Circle’s corporate funds and attested monthly by independent third parties. Since launch, authorized users with Circle Mint accounts have maintained the ability to redeem EURC 1:1 for euros directly via Circle Mint, while others can do so on secondary markets like crypto exchanges. This combination of regulatory alignment and operational transparency helped unlock institutional confidence in 2025, shifting EURC from a promising product to a trusted tool.
EURC in context: A category taking shapeStablecoins have become a core component of the onchain economy, with total global supply approximately $300 billion as of January 1, 2026. While dollar stablecoins continue to dominate in absolute terms, euro stablecoins are now the second-largest segment. The euro stablecoin market grew from approximately €400 million as of June 1, 2025 to roughly €650 million by June 1, 2026. Within this growing category, EURC remained the leading euro-denominated stablecoin — playing a key role in euro stablecoin circulation, infrastructure support, and regulatory readiness.
EURC’s market share reflects years of groundwork: multichain expansion, deep exchange liquidity, and close alignment with institutional and policy expectations.
The opportunity is still massive Despite this momentum, the addressable market remains largely untapped. Euro-area M2 supply exceeded €16 trillion as of late 2025, while euro stablecoins represent just a fraction of a percent.
The structural advantages of stablecoins (e.g., real-time settlement, programmability, and lower operational friction) map directly to financial use cases already core to European commerce. As infrastructure matures and regulation provides guardrails, the path is clearing for broader enterprise and institutional participation.
Learn more about EURC and how to build with euro-denominated programmable money on Circle’s EURC page.
EURC is issued by regulated affiliates of Circle. See Circle’s list of regulatory authorizations.
Goldman Sachs zvýšil krátkodobý výhled kurzu USD/BRL na 5,20 za tři měsíce a na 5,10 za šest měsíců kvůli rostoucímu politickému riziku před volbami v Brazílii. Cíl na 12 měsíců ponechal na 5,00.
Goldman Sachs has raised its three and six month USD/BRL exchange rate forecasts, placing election risk ahead of a later high-carry recovery. Goldman Sachs has raised its near-term USD/BRL forecasts as Brazil's election begins to command a larger risk premium.
The bank now projects the US Dollar to Brazilian Real exchange rate at 5.20 in three months, 5.10 in six months and 5.00 in 12 months.
Only the near-term forecasts moved “Our new USD/BRL forecasts are 5.20, 5.10, 5.00 in 3-, 6- and 12-months,” Goldman said.
The previous sequence was 4.90, 5.00 and 5.00, so the bank has raised the three- and six-month figures while leaving the 12-month destination unchanged.
With spot near 5.19 when the note was prepared, the revision chiefly removes the near-term Real appreciation that Goldman had previously expected.
That is not a wholesale bearish turn on the Real.
The revised profile implies modest BRL weakness during the first leg, followed by appreciation as USD/BRL declines from 5.20 to 5.00.
Goldman links the adjustment to the return of political risk as Brazil approaches its election.
The Real could still rally tactically, but the bank expects the exchange rate to respond both to changing probabilities for the candidates and to what each result could mean for the public finances.
“While BRL could tactically rally here, we think it will be difficult for USD/BRL to trade below 5.00, unless there is more clarity on fiscal consolidation post-election,” the report said.
The 5.00 level is both the 12-month destination and the threshold Goldman doubts can break without fiscal consolidation.
The forecast also sits inside a broader low-volatility environment in which carry has been a powerful source of returns.
Goldman expects high-carry currencies to continue outperforming once the immediate political premium fades, which explains why the medium-term trajectory slopes lower even after the near-term forecast revisions.
But the bank is explicit that the election can disrupt that sequence.
“Different election outcomes could push BRL away from this path over the medium-term,” it warned.
Timing defines the call: election uncertainty comes first and carry support later.
A 5.20 three-month forecast is not a call for uninterrupted Dollar strength, and a 5.00 12-month forecast is not a promise that fiscal concerns disappear.
Without clearer fiscal consolidation after the election, Goldman sees little room for USD/BRL to remain below 5.00.
Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.
Gentherm plánuje fúzi s Modine Performance Technologies, kterou chce uzavřít na začátku 4. čtvrtletí. Kombinovaná firma by měla mít zhruba 2,6 miliardy USD tržeb a méně než 70 % expozice na lehká vozidla.
Modine’s $4B AI Coup Freezes Out the CompetitionGentherm NASDAQ: THRM outlined plans to diversify beyond light-vehicle thermal comfort products, expand margins and complete its combination with Modine Performance Technologies, which management expects to close in early fourth quarter.
Speaking at a JPMorgan event, President and CEO Bill Presley described Gentherm as a $1.5 billion provider of thermal and precision flow-management technologies. The company’s core platforms include air-moving devices, pneumatic systems, valve systems and thermal technologies. Its current revenue mix is 97% automotive and 3% medical, but management said it is pursuing growth in medical, home and office furnishings, commercial vehicles, off-highway equipment and power generation.
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Gentherm sells products such as heated and cooled seats, heated steering wheels, lumbar and massage systems, surgical warming blankets, warming pads and fluid-warming devices. Presley said the company supplies more than 50 automakers and holds about 50% of its core automotive market.
Modine transaction targets broader markets Management said the planned combination with Modine Performance Technologies represents a major step in shifting Gentherm’s end-market mix. Modine Performance Technologies produces heat exchangers used in commercial vehicles, off-highway equipment and power-generation applications.
Presley said the combined company would have approximately $2.6 billion in revenue on day one, EBITDA margins above 12%, and less than 70% exposure to light vehicles. Gentherm has set a goal of reaching $3.5 billion in revenue and more than $500 million in EBITDA by 2030.
The company expects the deal to create cross-selling opportunities, including an estimated $100 million of additional revenue by 2030. More than half of that opportunity is expected to come from Gentherm’s valve business, Presley said. The products can be used alongside Modine’s heat exchangers, while Modine’s operations could provide Gentherm access to new customers and markets.
India was highlighted as one potential benefit. Presley said Modine has manufacturing capacity and commercial teams in the country, enabling Gentherm to pursue opportunities involving two-wheelers, cooling products, valves and fans.
Chief Financial Officer and Treasurer Jon Douyard said the transaction is structured as a Reverse Morris Trust. Gentherm announced the deal in January, has received regulatory approvals and has secured $800 million in committed financing, he said. The company plans to hold its shareholder vote on Sept. 10 and remains on track for an early-fourth-quarter closing, subject to remaining items including an Internal Revenue Service ruling.
Automotive growth supported by take rates and new launches Douyard said Gentherm delivered a strong first half, driven by production launches, broad-based revenue growth and operational improvements. China, North America and Europe all contributed to growth, while pneumatic lumbar and massage products were a leading contributor.
Management characterized the year as “U-shaped” from a margin perspective. Gentherm saw strong first-quarter results, followed by a second-quarter step-down tied to inflationary pressures and inventory adjustments associated with its manufacturing footprint transitions. The company raised its guidance following its earnings report, Douyard said.
For 2027, Gentherm has projected revenue growth of 10% from the midpoint of its previously issued guidance, based on awarded business and program visibility. Management expects lumbar and massage systems to remain among its fastest-growing product categories.
Gentherm estimates climate-controlled seats currently reach about 50% of seats and could reach 70% by 2030. Pneumatic systems, which replace mechanical and electromechanical lumbar solutions with air bladders and valves, have about a 15% take rate and could double by 2030, according to Douyard.
In China, the company expects long-term growth of mid- to potentially high-single digits above the market. Douyard said Gentherm has tailored its products and operations for local requirements and is selectively partnering with Chinese automakers where it sees durable opportunities. He added that Chinese automakers expanding into Europe could turn to Gentherm because it already has a European footprint.
Home, office and medical initiatives advance Presley said Gentherm’s home and office business moved from initial work in June of last year to production by December using the same technologies and equipment used for automotive applications. The company initially won business with KUKA Home Furnishings and has since added four other original equipment manufacturers, though those customers have not yet been publicly named.
Management said it is comfortable targeting $100 million in home and office revenue by 2028, supported by applications in sofas, recliners, love seats, mattresses and office furniture. Presley said the business is utilizing open manufacturing capacity and has not required additional capital investment.
In medical, Gentherm plans to begin generating revenue this month from ThermAffyx, a warming and patient-positioning system designed for robotic surgery. Presley said the company combined automotive heated-seat technology with a high-density foam fixation pad and controller to address patient hypothermia during procedures.
The product was soft-launched in April at the Association of periOperative Registered Nurses event in New Orleans. Presley said 60 people signed up for training, 50 enrolled in a trial period, and Gentherm has secured contracts with group purchasing organizations.
Douyard also discussed Gentherm’s acquisition of IME, a patient thermal-management business expected to generate $17 million to $18 million of annual revenue with EBITDA margins above 20%. Gentherm expects its combined medical business, currently about $50 million, to exceed $100 million and approach $150 million by 2030.
Margin expansion plan Gentherm is pursuing more than 300 basis points of margin expansion over the next five years. Douyard cited manufacturing footprint consolidation, improved pricing and contract terms, higher volumes, and a larger contribution from home, office and medical products as primary drivers.
The company expects both legacy Gentherm and Modine Performance Technologies to move from EBITDA margins of roughly 12% to more than 15% by the end of the decade. Presley said Gentherm intends to use expected cash generation for strategic investments, acquisitions and shareholder returns.
About Gentherm (NASDAQ:THRM)Gentherm Incorporated NASDAQ: THRM is a global developer and supplier of advanced thermal management technologies for automotive, specialty vehicle, medical, consumer and industrial markets. The company's core focus lies in delivering integrated heating and cooling systems designed to enhance energy efficiency, comfort and safety across a wide range of applications. Gentherm's product portfolio includes seat thermal systems, heated and ventilated seating surfaces, steering wheel heaters, battery thermal management solutions, and climate systems for electric vehicles.
In the automotive sector, Gentherm partners with leading original equipment manufacturers to engineer and manufacture high-performance thermal solutions that meet stringent industry demands for reduced weight, lower energy consumption and improved passenger comfort.
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Uber podle COO Andrewa Macdonalda naráží na „inovátorskému dilematu“: jeho velikost zpomaluje rozvoj nových byznysů. Firma přitom dál sází na autonomní vozidla a doručování drony.
Uber COO Andrew Macdonald said large companies with new ideas move more slowly than startups as employees get "fat" on the resources. Zed Jameson/Bloomberg via Getty Image At the top, it's hard to know where else to go.
In an interview on Harry Stebbings' 20VC podcast published on Monday, Andrew Macdonald, Uber's chief operating officer and president, said that finding new businesses can be challenging when the company's core business is already so large.
Call it the "classic innovator's dilemma," he said.
"The thing you've already built is so big that it just swallows up your organizational capacity to do anything else," Macdonald said. "And even if you're able to stand up other businesses, it's impossible for those businesses to get the resourcing, attention, distribution, marketing dollars, engineering capacity — whatever it is, it just gets swallowed up by the hole."
Macdonald said Uber is close to $250 billion in gross bookings on an annualized basis. At that scale, he said, a new product would need a plausible path to becoming a multibillion-dollar business before it's compelling enough for the company.
"It just actually constrains your thinking a little bit," Macdonald said.
Uber is operating at a formidable scale. The company reported $58 billion in gross bookings in its most recent quarter and $14.2 billion in revenue. Uber said the platform averaged 208 million monthly active platform consumers.
The company is still making big bets.
Autonomous vehicles, Macdonald said, are now Uber's "largest single area of investment." The company has partnered with a slew of robotaxi platforms, including Alphabet's Waymo, and launched Uber Autonomous Solutions earlier this year — a suite of services aimed at helping AV companies commercialize their tech. The Financial Times estimated in an April report that the company has committed more than $10 billion to investments in AV companies and spending on robotaxi fleets.
On Monday, Uber also unveiled a partnership with drone-delivery startup Zipline to allow Uber Eats customers to receive drone deliveries starting later this year. The companies said they were targeting one million daily drone deliveries by the end of 2029.
The partnership includes a "strategic investment" in Zipline by Uber.
Macdonald said on the podcast that the company tries to incubate fledgling ideas through a program called "Growth Bets," in which Uber dedicates employees to new projects rather than having people manage existing businesses simultaneously.
Even then, Macdonald said big companies throwing a ton of money at new projects often move more slowly than startups, as people get "fat on the resources."
The upside for Uber, he said, is that if a new idea works, the company can put it in front of more than 200 million people.
Not a bad head start.
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Stoke Therapeutics uvedla, že studie fáze III EMPEROR pro zorevunersen u Dravetova syndromu má 162 pacientů, nad cílem 150, a dosud žádné výpadky. Primárním cílem je snížení záchvatů ve 28. týdnu.
Stoke Therapeutics NASDAQ: STOK said its Phase III EMPEROR study of zorevunersen for Dravet syndrome has enrolled 162 patients, exceeding its target enrollment of 150, with no patient discontinuations reported to date.
Speaking at a Canaccord Genuity event, Chief Executive Officer Ian Smith said the sham-controlled trial is evaluating zorevunersen in patients who are already receiving stable background anti-seizure medications. The study’s primary endpoint is seizure reduction at week 28, while secondary assessments at week 52 include measures of cognition and behavior.
Smith said 145 of the 162 enrolled patients have passed week eight, approximately 80 have reached week 24, and 60 have completed the week-28 primary endpoint. Patients receive two 70-milligram doses by week eight, followed by two 45-milligram doses during the 52-week study period, according to Smith.
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Trial Design and Retention The company had incorporated a 15% discontinuation assumption into the trial design, partly because the control arm includes a sham lumbar puncture procedure. Smith said the absence of dropouts so far reflects both trial execution and the drug’s tolerability profile, while noting that some patient retention may also relate to the availability of an open-label extension in which participants can receive treatment after the controlled portion of the trial.
“The drug must be well-tolerated to date. Otherwise, we would have seen dropouts related to the drug,” Smith said. He added that Stoke remains blinded to the trial data.
Stoke expects to provide another update on the EMPEROR study toward the end of the third quarter, Smith said.
Measuring Effects Beyond Seizures Smith said the U.S. Food and Drug Administration granted breakthrough therapy designation for zorevunersen for the treatment of Dravet syndrome, based on data involving both seizure reductions and outcomes from the Vineland adaptive behavior assessments in earlier studies and an open-label extension.
While EMPEROR’s primary endpoint focuses on seizures, the study is also designed to assess cognitive and behavioral changes through the Vineland-3 assessment. Smith said the measures include receptive and expressive communication, motor skills, interpersonal skills and social functioning.
The trial is powered around the receptive communication endpoint, with Stoke seeking a two- to three-point treatment benefit versus natural history, Smith said. He said natural-history data suggest that patients generally do not gain function over time.
Smith said prior long-term open-label data showed continued gains in cognitive and behavioral measures over four years, in addition to seizure reduction. He described examples of children progressing from non-verbal to verbal or becoming more ambulatory, though these outcomes were discussed in the context of the company’s prior data rather than results from the ongoing Phase III trial.
On seizure reduction, Smith said the Phase III study was powered for a roughly 40% to 45% treatment difference. In prior Phase I/II studies and the open-label extension, he said patients in the higher-dose group experienced seizure reductions of 70% to 80% while receiving zorevunersen on top of standard anti-seizure therapies.
Jason Hoitt, Stoke’s chief patient officer, said persistent seizures remain the primary unmet need cited by caregivers and physicians treating Dravet syndrome, followed by quality-of-life and neurocognitive concerns. He added that seizure reduction is also an important consideration for payers.
Regulatory Submission Plans Smith said Stoke anticipates beginning a rolling New Drug Application submission in the first quarter of 2027, pending discussion with the FDA at a planned pre-NDA meeting. The company expects to complete the submission in the third quarter of 2027 after completion of the EMPEROR trial.
The company plans to submit chemistry, manufacturing and controls information first, followed by preclinical materials and then clinical data, Smith said. He said Stoke intends to discuss inclusion of its long-term open-label data in the eventual product label as part of its pre-NDA discussions with regulators.
Hoitt said the company has conducted payer research on the potential value proposition for zorevunersen. According to Hoitt, payers indicated that long-term safety and efficacy data would be among the most compelling evidence for a chronic treatment if the therapy reaches approval.
Additional Programs and Biogen Partnership Beyond Dravet syndrome, Stoke is developing a treatment for autosomal dominant optic atrophy, or ADOA, a genetic disease associated with progressive vision loss. Smith said the company’s Phase I/II OSPREY study is a single-dose, dose-escalation study targeting the OPA1 gene.
The study will assess potential changes in vision using low-contrast visual acuity and fluorescent fundus autofluorescence measures. Smith said Stoke expects potential efficacy data from the third and fourth cohorts in the first half of 2027. If the results support further development, the company expects to discuss a potential registrational study with the FDA.
Smith also discussed Stoke’s partnership with Biogen for territories outside North America. He said the collaboration, which has been in place for roughly 18 months, was designed to expand the company’s capabilities beyond North America and cited Biogen’s experience with antisense oligonucleotide therapies, manufacturing and international commercial footprint.
About Stoke Therapeutics (NASDAQ:STOK)Stoke Therapeutics, headquartered in Bedford, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing genetic medicines to upregulate protein production for the treatment of rare neuromuscular and neurological disorders. Founded in 2014, the company applies its proprietary Targeted Augmentation of Nuclear Gene Output (TANGO™) platform to design antisense oligonucleotides that selectively modulate RNA splicing and enhance expression of functional proteins.
The company's lead program, STK-001, is an antisense oligonucleotide therapy designed to increase production of the sodium channel protein SCN1A and is currently in clinical development for Dravet syndrome, a severe childhood-onset epilepsy.
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Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Palantir ve 2. čtvrtletí zvýšily tržby o 93 % na 1,94 miliardy USD a zvýšil výhled na fiskální rok 2026. Microsoft překonal očekávání, když tržby segmentu Intelligent Cloud vzrostly o 32 % na 39,3 miliardy USD.
The Q2 earnings season continues to wind down, which has overall shown immense strength with outsized growth. There have been several standout releases during the Q2 earnings cycle, including those from Palantir (PLTR - Free Report) and Microsoft (MSFT - Free Report) .
Palantir Earnings
Palantir’s overall revenue surged by 93% YoY to $1.94 billion, yet again reflecting another acceleration relative to recent periods. Huge top-line growth has been led by rock-solid demand, with Palantir closing $3.4 billion of total contract value throughout the period, jumping 49% YoY.
U.S. results came in notably strong, with U.S. commercial and government revenue climbing by 149% and 90%, respectively. Higher-value deals are also continuing to flow in at a rapid pace, with PLTR closing 73 deals worth at least $10 million throughout the period.
The company lifted its guidance across many metrics, now expecting FY26 revenue in a band of $8.150 - $8.158 billion, reflective of 82% YoY growth. U.S. commercial demand is also expected to remain red-hot, with PLTR upping the guidance to reflect 134% YoY growth.
Microsoft Earnings
Microsoft posted a double-beat relative to our consensus expectations, with sales growing by 18% YoY alongside 23% YoY growth in earnings. Most importantly, the mega-cap heavyweight delivered favorable Intelligent Cloud results, a key benchmark the market has consistently scrutinized amid the billions it’s been investing in AI infrastructure.
Microsoft’s Intelligent Cloud results include Azure, its cloud computing platform that provides AI computing power to businesses. Intelligent Cloud revenue came in at $39.3 billion, beating our consensus estimate handily and growing 32% YoY. The growth rate here is mightily important from a sentiment standpoint, showing an acceleration relative to recent periods.
Atlassian uvedl, že cloudový růst táhnou upgrady na Teamwork Collection a vyšší využití Rovo AI. Subscription ARR ve čtvrtletí vzrostl meziročně o 23 %.
MarketBeat Week in Review – 08/10 - 08/14Atlassian NASDAQ: TEAM said its cloud business momentum continued through the fourth quarter of fiscal 2026, supported by customer upgrades, cross-selling activity and expanding paid seats across both software development and non-technical teams.
Speaking at a KeyBanc conference, Martin Lam, Atlassian’s head of investor relations, said cloud outperformance was driven by upgrades to the company’s Teamwork Collection and cross-sell activity into its Service Collection. Customers upgrading to Teamwork Collection receive 10 times the number of Rovo AI credits, which Lam said has become a primary driver of adoption.
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Atlassian Just Pulled Off the Software Comeback Wall Street Wanted“Customers are upgrading for that additional AI capability,” Lam said, adding that the company also saw continued seat expansion in Jira and Confluence.
Seat Growth Extends Beyond Developers Lam said the company’s seat expansion spanned both software developers and knowledge workers, including teams in human resources, marketing, legal and finance. Atlassian previously disclosed that roughly two-thirds of Jira users and about 70% of Confluence users are knowledge workers or non-software developers.
Atlassian’s AI Pivot Is Starting to Challenge Wall Street’s Bear CaseHe said artificial intelligence is lowering the cost of software development and enabling more businesses to develop digital products and services. However, the resulting growth in work also increases the need for coordination across organizations, Lam said.
Atlassian’s platform is designed to help companies manage, track and plan work across teams, according to Lam. He pointed to the Teamwork Graph, a contextual layer within the platform that connects information, workflows, tools and people.
Lam said the Teamwork Graph can improve AI results by providing context from products including Jira and Confluence. He said Atlassian has found the technology delivers 48% more efficient token usage and 44% better results, as it reduces the need for AI systems to search broadly across an organization without contextual relationships.
Profitability Focus Shifts Toward GAAP Metrics On margins, Lam said Atlassian is increasingly focused on GAAP operating margins as part of its effort to deliver “durable, profitable growth.” The company reported GAAP profitability in the fourth quarter and guided for fiscal 2027 GAAP operating margin of 4.5%, compared with approximately flat GAAP operating margin at the end of fiscal 2026.
Lam said non-GAAP comparisons are affected by several accounting and compensation-related factors. The end of life for Atlassian’s data center product created changes under ASC 606 revenue recognition rules, producing about a four-point benefit to fiscal 2026 non-GAAP operating margin because more subscription revenue was recognized upfront.
For fiscal 2027, the company expects a roughly three-point non-GAAP margin headwind from changing compensation mix between cash and equity for certain employees and roles. Excluding those factors, Lam said non-GAAP operating margins would increase.
Subscription ARR Introduced to Address Migration Noise Atlassian introduced subscription annual recurring revenue as a measure intended to provide a clearer view of its subscription business during the transition away from data center offerings and toward cloud services.
The company reported 23% year-over-year subscription ARR growth in the quarter and initially guided for subscription ARR to grow 18% year-over-year by the end of fiscal 2027. Lam said the measure includes both cloud and data center subscriptions and helps reduce the accounting and timing effects associated with customer migrations.
He cautioned that quarterly ARR performance can vary as Atlassian changes data center pricing, sales compensation structures and partner alignments to support its cloud migration. The company had previously cited customer purchasing that shifted from the fourth quarter into the third quarter following data center pricing changes.
AI Monetization and Enterprise Expansion Lam said Teamwork Collection is currently Atlassian’s main AI monetization vehicle because it gives customers a larger, more predictable pool of Rovo credits at a higher price per user. The company plans to begin enforcing Rovo credit limits during the year, while usage- or consumption-based pricing could become more significant over time.
According to Lam, customers adopting Rovo are growing ARR at twice the rate of customers that do not use the AI offering. Atlassian also has more than 1 million monthly active users of its MCP server and Teamwork Graph command-line interface, which allow third-party AI agents to access Atlassian’s platform. Users of those tools are creating four times as many Jira work items and Confluence pages, Lam said, while growing ARR at twice the rate of non-users.
Service Collection surpassed $1 billion in ARR during the third quarter and was growing more than 30% year over year at that time, Lam said. Growth accelerated in the fourth quarter as customers expanded deployments beyond IT workflows. More than 60% of Service Collection use cases are outside IT, he said, while Rovo agentic automations in the offering increased threefold over a six-month period.
Lam also highlighted Atlassian’s enterprise opportunity. The company has about 400 quota-carrying enterprise sales representatives and 350,000 customers, with many initial customer deployments beginning in relatively small teams before expanding across the organization. He said remaining performance obligations grew 44% year over year, while the cohort of customers spending more than $3 million annually grew more than 50%.
About Atlassian (NASDAQ:TEAM)Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.
Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.
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Bitwise a Grayscale koupily HYPE za zhruba 2,8 milionu USD během posledního týdne. Hyperliquid od víkendových minim vzrostl o více než 16 % díky silné poptávce po ETF.
Bitwise and Grayscale have emerged as leading buyers of HYPE, purchasing a combined $2.8 million worth of the token over the past week. Their activity follows a period of significant price recovery for Hyperliquid, after the asset experienced several days trading in negative territory.
ETF holdings and market resilienceArkham Intelligence reported that despite heightened market volatility and a stretch of lackluster price action, Hyperliquid ETF investors refrained from selling their HYPE holdings throughout the week. Instead, these funds either maintained or increased their positions, standing apart from other crypto funds that saw net outflows during the same period.
Analysts pointed to this unwavering demand from institutional investors as a key driver behind the recent recovery in HYPE’s price. From its weekend lows, Hyperliquid advanced by more than 16%, suggesting a robust rebound tied to ongoing ETF interest.
Data indicated that no sales of HYPE occurred from any Hyperliquid ETF over the week, while other crypto funds experienced noticeable outflows. The sustained holding or accumulation among institutional participants signals a strong confidence in the asset’s potential.
Institutional activity supports price actionBitwise and Grayscale’s involvement was particularly notable, as the two investment firms together acquired roughly $2.8 million in HYPE during this market recovery. Their purchases further reinforced the positive momentum, providing additional support to the price rebound.
According to market observers, renewed institutional interest has amplified demand for HYPE and contributed to its climb from depressed levels. Market participants are now monitoring whether this pattern will persist, with some analysts suggesting that continuous ETF buying could signal further upside potential for the token.
Analysts believe that sustained ETF demand, especially from major institutions, may indicate the beginning of a new upward trend for HYPE if current buying patterns continue.
Efficiency in a volatile environmentAs HYPE responds to institutional activity and market swings, investors increasingly seek streamlined tools to navigate crypto markets efficiently. In a landscape where a sudden Fed decision or an unanticipated altcoin listing can spark instant volatility, managing multiple apps for tracking data often leads to missed opportunities. Many traders now turn to privacy-first platforms such as CryptoAppsy, which consolidates real-time charts, trade alerts, coin-specific news, and macroeconomic data onto a single interface without requiring account creation.
HYPE continues to trade with bullish momentum as ETF interest remains high and institutional accumulation drives optimism for further gains.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Hyperliquid Policy Center a Douro Labs vyzvaly SEC ke zrušení 20 let starého pravidla Rule 611 pro on-chain trhy. Současně chtějí principy best execution přizpůsobené blockchainu.
Two organizations deeply embedded in the Hyperliquid ecosystem have told the SEC to ditch a 20-year-old equity trading rule and start thinking about what “best execution” actually means when trades settle on a blockchain instead of the NYSE.
The Hyperliquid Policy Center (HPC) and Douro Labs submitted a joint comment letter on August 17 backing the SEC’s June 11 proposal to rescind Rule 611 of Regulation NMS. The rule, originally adopted in 2005, requires trading venues to route orders to whichever exchange displays the best price, a concept known as the “trade-through” rule. Both organizations argue the rule is a relic of an era when stock exchanges were the only game in town.
What Rule 611 does and why crypto wants it gone Rule 611 was designed to protect investors by ensuring their orders got the National Best Bid and Offer (NBBO) price across all registered exchanges. In practice, it means a broker can’t execute your trade at a worse price if a better one exists somewhere else in the system. Onchain markets don’t operate like centralized exchanges. There’s no consolidated quote system, no closing bell, and no neat hierarchy of registered venues. Trading happens 24/7 across permissionless protocols where liquidity can appear and vanish within a single block.
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The SEC itself acknowledged in its June proposal that the trade-through rule “complicates execution and increases costs.” The proposal would also impact related provisions governing locked and crossed market prohibitions under Regulation NMS.
Best execution, but make it onchain Repealing Rule 611 is only half of what HPC and Douro Labs are asking for. The other half is principles-based best-execution guidance designed specifically for onchain markets. Onchain trading introduces complications that didn’t exist when those rules were written. Network fees (gas costs) eat into execution quality. Maximal extractable value, or MEV, lets validators and sophisticated actors reorder transactions to profit at a trader’s expense. And because many decentralized venues don’t display conventional quotes, there’s no obvious benchmark to measure “best” against.
Douro Labs, which is closely associated with the Pyth Network oracle, previously submitted comments to the SEC on February 20, proposing that execution certainty, privacy, and total costs should all factor into the assessment of best execution. The joint letter extends that thinking, suggesting that independent, transparent pricing feeds could replace conventional market quotes as the relevant benchmark for onchain venues.
Who’s behind the push HPC launched on February 18 in Washington, D.C., funded by a $28 million donation in HYPE tokens. Its stated mission is to influence regulatory frameworks for decentralized markets, with a particular focus on onchain perpetual derivatives, the product category where Hyperliquid has built its reputation.
Douro Labs brings a complementary angle. As the team behind the Pyth Network, it has a direct interest in how regulators treat onchain data feeds. If the SEC eventually requires some form of best-execution reporting for decentralized venues, the infrastructure that provides those reference prices becomes critical plumbing, not unlike the role that SIP (Securities Information Processor) feeds play in traditional equities today.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
World Liberty Financial spojila USD1 s platformou WorldClaw, která nabízí přibližně 90 AI modelů, z nichž 43 pochází od čínských firem. Některé z nich čelí omezením a kontrole amerických úřadů kvůli národní bezpečnosti.
WorldClaw collaboration integrates World Liberty’s USD1 stablecoin with AI model marketplace. Nearly half of WorldClaw’s 90 available AI models originate from Chinese technology companies. Multiple Chinese developers on the platform face Pentagon designations and Commerce Department restrictions. World Liberty, with 38% Trump family ownership, generates revenue from USD1 adoption. Partnership creates tension between commercial AI access and US national security policies. A new partnership between World Liberty Financial and WorldClaw, an artificial intelligence aggregator based in Hong Kong, has thrust the Trump-connected cryptocurrency venture into the center of ongoing debates about Chinese technology access. The collaboration enables customers to pay for Chinese and American AI models using World Liberty’s USD1 stablecoin, creating questions about compliance with evolving security frameworks.
USD1 Stablecoin Integration Powers WorldClaw Services The Hong Kong-based WorldClaw platform aggregates approximately 90 different artificial intelligence models for commercial use. According to Reuters analysis, nearly half—43 models specifically—were created by Chinese technology firms such as Alibaba, Baidu, Z.ai, DeepSeek, and Moonshot. American tech giants also contribute models to the platform’s offerings.
World Liberty generates income when users conduct transactions with USD1, as the stablecoin earns returns on the reserve assets backing its one-dollar peg. These reserves typically consist of US Treasury bonds and similar dollar-denominated financial instruments. The Trump family maintains a significant 38% equity position in World Liberty Financial, directly benefiting from cryptocurrency-related revenues.
While WorldClaw operates independently from the Trump family’s crypto enterprise, connections exist through personnel and promotion. Ryan Fang, World Liberty’s growth executive, provides advisory services to WorldClaw focused on USD1 integration and global expansion. Additionally, Donald Trump Jr. and Eric Trump have actively publicized WorldClaw across their social media platforms.
Pentagon and Commerce Department Restrictions Target Model Providers Multiple Chinese technology companies accessible through WorldClaw’s platform currently face official United States government restrictions or enhanced scrutiny. The Department of Defense has formally identified both Alibaba and Baidu as entities with connections to China’s military apparatus. Separately, the Commerce Department added Z.ai to its entity list, citing national security risks.
Federal authorities have additionally accused DeepSeek and Moonshot of unauthorized appropriation of proprietary technology from American artificial intelligence developers. Chinese corporate representatives and government officials have disputed these allegations regarding military ties and technology transfer practices. Nevertheless, the formal restrictions against certain companies remain active.
WorldClaw’s provision of these Chinese AI models appears legally permissible under current regulations, even for American customers. Yet the association with World Liberty Financial creates an apparent contradiction with broader Washington policy objectives targeting sensitive Chinese technology sectors. The current administration has emphasized strategic competition with China specifically in artificial intelligence, semiconductor manufacturing, and emerging technologies.
Cryptocurrency Payment Integration Expands AI Model Distribution WorldClaw’s infrastructure includes WorldRouter, a unified interface enabling customers to access diverse artificial intelligence models through a single service portal. Company statements indicate the platform serves over 10,000 active users while processing millions of computational requests. Future development plans include AI agent functionality capable of autonomous task completion, from email management to restaurant ordering.
Customers selecting USD1 as their payment method create a direct commercial link between the AI marketplace and World Liberty’s stablecoin ecosystem. This integration potentially amplifies USD1 transaction volume while diversifying the stablecoin’s application beyond conventional cryptocurrency exchange activities. Reuters reporting did not identify specific revenue-sharing arrangements or financial terms governing the World Liberty-WorldClaw partnership.
The collaboration consequently positions World Liberty Financial at the intersection of cryptocurrency commerce, international AI model distribution, and ongoing policy disputes regarding Chinese technology access. While no existing statutes prohibit this business arrangement, and WorldClaw characterizes its model aggregation as standard technology practice, the partnership inevitably situates World Liberty within contentious discussions balancing commercial innovation, national security imperatives, and geopolitical technology competition.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
Galaxy Research uvádí, že při hacku Coldcard bylo ztraceno více než 115 milionů USD v bitcoinech. Firma mluvila s více než 200 oběťmi a odhaduje, že škody mohou přesáhnout 130 milionů USD.
New data from Galaxy Research shows that $115 million in bitcoin has been lost in the Coldcard theft.
Writing on X Sunday, Galaxy Research said that it had spoken with over 200 victims to support them and gather intelligence on the attackers.
The figures are based on the price of bitcoin at the time of the attack.
Coldcard losses have exceeded $115M (based on the price when coins were stolen)
Galaxy Research has spoken with 200+ victims to support them and gather intelligence on the attackers
This thread contains additional charts and info 👇 pic.twitter.com/H2K141mugF
— Galaxy Research (@glxyresearch) August 16, 2026 Hackers started taking bitcoin stored using Coinkite’s popular Coldcard hardware wallet on July 31.
Canadian company Coinkite said that a firmware bug in Coldcard Mk3 devices — starting with version 4.0.1 in March 2021 — caused seed generation to fall back to a weak software Pseudorandom Number Generator instead of the hardware true random number generator, allowing hackers to essentially guess investor seedphrases.
The number has slowly risen as the criminals have targeted more recent devices while Coinkite and other Bitcoiners have urged Coldcard users to immediately move their funds.
Galaxy Research last week said that it estimates at least 15 separate attackers were exploiting the bug independently.
Previous research from Galaxy found that the typical stolen coin had sat untouched for 3.5 years, and a striking 88% of pilfered funds were at least a year old.
The firm is still confirming how much is stolen, and has said that total losses could exceed $130 million.
Since the attack, cautious investors have been moving their coins to other storage solutions — including exchanges.
Coinkite said in a statement this week that the bug in its software “silently went unnoticed” and “its potential impact grew with every release” of its products.
Days after the first hack, the company urged investors to update their software or move their funds off the popular hardware wallet.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
JD Vance na konferenci Bitcoin 2025 v Las Vegas 28. května 2025 řekl, že USA by měly Bitcoin podporovat, ne se od něj odvracet. Administrativa už zřídila Strategickou bitcoinovou rezervu a přestává prodávat zabavené BTC.
Vice President JD Vance took the stage at Bitcoin 2025 in Las Vegas on May 28 and made the administration’s position about as clear as it gets: the US government should be leaning into Bitcoin, not away from it.
His reasoning centered on a familiar adversary. “If the communist Republic of China is leaning away from Bitcoin, then maybe the United States ought to be leaning into Bitcoin,” Vance told the conference crowd, framing the world’s largest cryptocurrency as both a strategic asset and a geopolitical chess piece.
From seizures to strategy Vance’s remarks build on a policy foundation the Trump administration laid earlier this year when the president signed an executive order on March 6, 2025, establishing a Strategic Bitcoin Reserve alongside a US Digital Asset Stockpile.
The core idea behind the reserve is straightforward: stop selling seized Bitcoin and start treating it like a long-term national asset. The US government is the largest state holder of Bitcoin in the world, having accumulated hundreds of thousands of BTC through law enforcement seizures over the years. Previous administrations routinely auctioned off those holdings. The current approach flips that playbook entirely.
Vance’s speech highlighted what he sees as Bitcoin’s key attributes: scarcity and security.
Skin in the game The vice president isn’t just talking his book. He’s also holding one. Financial disclosures reveal that Vance personally owns Bitcoin valued between $250,001 and $500,000. That puts him among the most crypto-exposed officials in the administration’s history, and it makes his advocacy less abstract than it might otherwise seem.
Whether you view that as a conflict of interest or proof of conviction probably depends on your priors. Either way, it’s worth noting that the person making the case for government Bitcoin accumulation stands to benefit personally from the policies he’s promoting.
The broader crypto landscape Approximately 50 million Americans now own Bitcoin, representing roughly 15% of the US population. Vance’s appearance at Bitcoin 2025 was as much a political signal as a policy statement. Last year, then-candidate Trump made headlines with his own Bitcoin 2024 appearance.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Embodied AI Meets Decentralized LiquidityRavn Robotics has officially launched its $RAVN token on @Ripple's $XRP Ledger, bringing a new category of real-world asset to the network: embodied AI software built for autonomous machines. The company's focus sits squarely at the intelligence layer,
The $RAVN token is structured as more than a standard utility instrument. meaning holders gain exposure to the company's performance through a blockchain-native format rather than conventional equity channels. The launch integrates AI-driven perception and real-time coordination capabilities for autonomous drones and unmanned systems directly into the $XRP ecosystem.
A Growing Ledger for Real-World AssetsThe Ravn launch arrives as the XRP Ledger cements its position as a leading venue for tokenized real-world assets. Institutional momentum has been building steadily, with
On the infrastructure side, Ripple has also been expanding its builder ecosystem:
Ravn Robotics represents a less conventional entry into this space, pairing the physical-world utility of autonomous systems with on-chain liquidity. Whether the model gains traction will depend on how the market values tokenized access to an early-stage robotics and AI company. But the launch signals a broadening of the asset types finding a home on the XRP Ledger, well beyond traditional finance.
Sources
Dexlocate: RAVN XRP Token Overview
24/7 Wall St.: XRP Ledger Tokenizes $3 Billion in Real-World Assets
Ripple: Supporting Innovation on the XRP Ledger in 2026
Fake World Assets uvádí FWAir, launchpad pro nové NFT kolekce financované komunitou v ETH. Když kolekce dosáhne cíle, vstoupí přímo do FWA poolu; jinak se podporovatelům vrátí peníze.
Fake World Assets (@token_works), the Ethereum-based NFT gacha protocol that briefly ranked as the network's largest gas consumer in late July, is expanding into new territory with a launchpad feature called FWAir, designed to bring entirely new NFT collections onto the platform.
Under the model, creators set a price per NFT and supporters back each one with that amount of $ETH. Collections that reach their funding target launch directly into the FWA pool, while backers receive refunds if the target is missed.
A protocol with momentum behind itThe announcement comes after a rapid rise for the underlying protocol.
Artist onboarding and first launch Artist onboarding will begin through a direct approval process, keeping early access selective as the team tests the new format.
FWAir marks a meaningful shift for the protocol. Rather than relying solely on existing NFT holders depositing assets into the pool, it opens a path for new collections to enter the ecosystem from day one, funded by the community rather than through a traditional mint.
, but the FWAir launchpad gives TokenWorks a new growth lever as it looks to deepen the range of assets available in the pool.
Sources:
Bitcoin Ethereum News: Fake World Assets Opens Its Gacha Pool to New NFT Collections
CoinTelegraph: How Fake World Assets Became Crypto's Latest Craze
The Defiant: NFT Gacha Protocol Fake World Assets Trails Only Sky in Ethereum Daily Revenue
Velryba stáhla z Krakenu 5 300 ETH za 9,98 milionu USD a staking Etherea vystoupal nad 41 milionů ETH, což dál omezuje nabídku na trhu. ETH se zároveň drží kolem 1 901 USD a trh sleduje rezistenci 1 950 USD.
The supply of Ethereum [ETH] was reduced when a whale removed 5,300 ETH valued at $9.98 million from Kraken. The transaction prolonged the accumulation activity of the wallet while shifting another large ETH position off an exchange.
Historically, such withdrawals decrease ready exchange balances whenever holders keep their assets out of trading platforms. Notably, the 9.98 million transfer was consistent with a larger demand signal and not a single transfer.
However, the withdrawals alone did not ensure an immediate price reaction since the accumulated ETH might be inactive over a long period of time.
Spot buyers reinforce the demand argument Spot Taker CVD had turned buyer-dominant after spending some time in the neutral territory throughout the three-month period, further strengthening Ethereum’s accumulation narrative. Buyer dominance meant that takers had crossed the spread more aggressively to buy ETH than sellers had to leave.
Importantly, this activity was complementary to the whale withdrawal since both measures were directed towards demand, rather than exchange-side distribution.
Exchange withdrawals usually limit tradable holdings, as aggressive purchases by takers compete with liquidity already available in the spot markets. Therefore, continued buyer dominance could amplify the effect of shrinking accessible supply during stronger trading periods.
However, the market still needed sufficient demand to take in sellers close to established resistance. Prolonged taker control would definitely enhance the likelihood of accumulation translating into significant price growth.
Source: CryptoQuant Record staking constrains the ETH supply Ethereum’s staking total climbed beyond 41 million ETH, reaching a record while absorbing more than one-third of Ethereum’s circulating supply. The staking data placed the share of staked ETH around 33.8%, following a persistent climb throughout July.
In contrast to normal wallet accumulation, staking directly pledged large amounts of holdings towards network participation as opposed to direct market trading. Therefore, the staking surge introduced structural weight to the supply terms produced by huge withdrawals of exchanges.
Meanwhile, whale accumulation added another source of reduced exchange accessibility. These forces did not necessarily lead to an increase in prices, as the demand still dictated the impact of scarcity on valuation.
Source: ValidatorQueue Will buyers finally break Ethereum above 1,950? At the time of analysis, Ethereum [ETH] was trading at approximately $1,901 following several attempts to consolidate in the 1,850-1,950 range.
Price was close to the upper half of the range, with buyers being closer to resistance than the bottom. Notably, +DI reached 25.18, exceeding the 16.54 -DI reading and giving buyers the directional advantage as of writing.
However, ADX was close to 18.50, which means that directional strength was not strong enough to have a convincing trend expansion. Besides, RSI provided another positive indication at 54.59, which is above its 52.79 average and neutral zone.
Ultimately, the underlying supply dynamics are increasingly having an impact on this technical structure. The fact that whales are pulling out of exchanges and adding to staking contracts indicates a constrained circulating supply.
The condition may increase upside moves in case demand remains strong. In a case where this supply squeeze is coupled with a confirmed breakout above 1,950, price discovery may occur at a faster pace than the current momentum readings suggest.
Eventually, the likelihood of Ethereum challenging the 2,100-2,200 area will increase. On the other hand, should whale distribution return or inflows revert to exchanges, the increased supply may limit upside efforts and support the current range, postponing any significant breakout.
Source: TradingView Final Summary Whale withdrawals and record staking continue reducing ETH available across the liquid market. Buyer-dominant taker activity could strengthen ETH’s chances of breaking above $1,950.
Cardano odhalilo dvoufázový plán hard forku Dijkstra na roky 2026 až 2027; první fáze má ve 4. čtvrtletí 2026 připravit mainnet a přinést verzi protokolu 12. ADA mezitím kleslo o 1,03 % na 0,1745 USD.
Cardano price dropped 1.03% to $0.175 following the unveiling of Cardano’s planned two-stage Dijkstra upgrade for 2026.
Bitcoin price was trading above $64,000, and Ethereum was holding above $1,900. XRP price held near $1. Now the focus is on the timeline, features, testing program, and network benefits of the upgrade for users worldwide.
Cardano has unveiled a phased hard fork roadmap for the upcoming Dijkstra Era. The first phase aims to complete the code and prepare the chain for mainnet in the Q4 of 2026. This upgrade aims to upgrade Cardano to protocol version 12.
Ouroboros Linear Leios, Nested Transactions, and the Script Context in PlutusV4 are some of these planned features. The upgrade will also introduce block structures and protocol settings to enable Ouroboros Peras.
This second phase will be completed in the second quarter of 2027.It will trigger Ouroboros Peras via another hard fork during the Dijkstra Era.
Cardano 公布 Dijkstra Era 分阶段硬分叉路线图，第一阶段计划于 2026 年第四季度完成代码并进入主网准备，升级至协议版本 12，重点上线 Ouroboros Linear Leios、Nested Transactions、PlutusV4 Script Context 等功能，并提前加入 Peras 所需的区块结构和协议参数；第二阶段计划于 2027…
— 吴说区块链 (@wublockchain12) August 16, 2026
Peras aims to improve Cardano’s transaction finality by confirming completed transactions more quickly. This may facilitate quicker settlement over applications on the network.
The announced dates, however, are development milestones, not actual mainnet launch dates. Before each upgrade, at least Preview and Pre-production network testing are required.
The changes need to be approved by the cardano governance bodies before being activated. For approval, the DReps, the stake pool operators and the Constitutional Committee must be involved.
Cardano Test After Derivatives Volume Jumps 89.88% Trading volume on ADA increased by 89.88% to $388.36 million during the period under consideration, while derivatives trading volume surged by 151.19% to $15.56 million.
However, open interest declined 1.76% to $451.31 million, suggesting traders closed some existing leveraged positions.
Source: Coinglass data The figures reflect an enhancing short-term involvement, whereas no similarly high number of outstanding derivatives contracts have been created.
The increased volume could be an indication of the renewed interest of the market, whereas the declining open interest indicates the prudence of the derivatives traders.
Whether rising activity brings in new positions and fosters further market momentum will decide Cardano’s next step.
Cardano Price Tests Key Support but Will ADA Rebound? As of the writing, the ADA price traded at $0.1745 after falling 0.46% on the four-hour timeframe. Cardano’s market structure was forced into continued weakness as the short-term price action of the token fell short of $0.18.
Momentum was in oversold levels with the Relative Strength Index at 34.38. The positioning is bearish, which implies that pressure could start to ease at current levels over time.
The Chaikin Money Flow indicator rose to 0.19, indicating positive capital flow into Cardano.
The future Cardano price outlook must first reclaim $0.18 to weaken the immediate bearish outlook. If it breaks out, then the way to $0.19 could be open, where that level has been a big support. Further momentum above $0.19 would place the $0.20 resistance level within reach.
Source: ADA/USDT tradingview On the other hand, a rejection below $0.18 may push ADA to the $0.1650 support level. That zone could be lost before the psychological zone of $0.15 comes into play.
Stellar RWA Value Hits All-Time HighReal-world asset (RWA) value on the Stellar (@StellarOrg) network reached $3.22 billion, according to rwa.xyz tracking data, marking the highest level ever recorded on the platform. The figure represents an 8.4% gain over the prior 30 days, continuing a run that has seen the network hit three separate billion-dollar milestones in a single calendar year.
@Spiko_finance leads all platforms on the network at $1.5 billion in tokenized assets. It is followed by Franklin Templeton (@FTDA_US), @Ondo, and Realiz.
Stablecoin Growth Outpaces RWA MetricsWhile RWA figures hit a new record, stablecoin activity on Stellar is expanding even faster. Stablecoin market cap rose 57.6% to $503.5 million over the same 30-day window, and monthly transfer volume climbed 21.7% to $6.6 billion.
RWA transfer activity cooled compared to the prior month, even as the number of holders approached 19,000, pointing to a broadening holder base even as short-term transaction volumes moderated.
Sources:
Stellar Development Foundation: Q2 2026 Network Report
Crypto Briefing: Stellar Network RWA Market Cap Surpasses $3B
Sentora Research: Stellar, The Blockchain Wall Street Was Quietly Waiting For
Zebec uvedl, že jeho firemní mzdová platforma na Stellar získala za dva měsíce devět firemních účtů a dosahuje ročního tempa zhruba 4 miliony USD ve výplatách v USDC. Spuštění na Stellar bylo oznámeno v březnu 2026.
Early traction builds on Stellar rails@Zebec_HQ says its enterprise payroll product on @StellarOrg has signed up nine business accounts within two months of launch, generating an annualized run-rate of roughly $4 million in $USDC payroll. The figures offer an early read on real-world demand for on-chain payroll infrastructure at a time when stablecoin adoption in corporate payments is accelerating.
Zebec's enterprise dashboard is designed for HR managers overseeing large, distributed teams, letting employers stream salaries and contractor payments in stablecoins directly into workers' digital wallets. The Stellar deployment, announced in March 2026, marked Zebec's first expansion beyond the Solana blockchain, where its streaming payroll infrastructure was originally built.
Stellar's architecture suits the use case. Transaction costs on the network run below one cent, and the network processes more than 250,000 USDC transactions daily, providing the liquidity base needed for high-frequency payroll operations.
Ecosystem add-ons broaden reachZebec has been layering on integrations since launch. A MoneyGram offramp gives workers cash-out access through MoneyGram's global agent network. Privy wallet infrastructure handles onboarding, while Tangem hardware wallet support adds a physical self-custody option for employees. Euro-denominated payouts are available through AllUnity's EURAU stablecoin, expanding the product beyond dollar-only settlement. Zebec Cards support for onramping and treasury management is flagged as the next item on the roadmap.
The additions reflect a broader pattern in enterprise stablecoin payroll, where coverage of local fiat offramps and wallet flexibility often determine whether a product gains traction in non-US markets. Zebec has positioned itself as Stellar's designated payroll infrastructure provider, with @StellarOrg selecting the firm in that role as part of a wider push to attract institutional use to the network.
Sources:
Zebec: Enterprise Payroll on Stellar launch post
Crypto Economy: Zebec launches enterprise payroll on Stellar
Edgen: Stellar taps Zebec for USDC payroll
Brookfield Capital Partners zvýšil nabídku na převzetí Reliance Worldwide na hodnotu podniku A$4,1 miliardy, tedy A$4,75 za akcii v hotovosti. Reliance s Brookfieldem podepsala procesní dohodu.
Australia's Reliance Worldwide Corporation (RWC.AX) said on Tuesday that Brookfield Capital Partners LLC had sweetened its offer to buy the plumbing solutions company for an enterprise value of A$4.1 billion ($2.91 billion).
Under the proposed deal, Brookfield would acquire all outstanding ordinary shares of Reliance for A$4.75 apiece in cash, implying an equity valuation of A$3.55 billion for the Australian firm. Reliance said Brookfield had made a series of unsolicited, non-binding, indicative offers in April and May at A$4.15, A$4.25 and A$4.50 a share, all in cash.
Reliance also said it has signed a process deed with Brookfield to move the proposal forward. Under the agreement, Reliance cannot solicit or discuss competing offers and does not have to share information with other potential bidders during a four-week period from August 17 to September 15.
If a scheme implementation deed is entered between the two parties, it would give Reliance 30 days to seek and negotiate potentially better offers from others.
Reliance has appointed Goldman Sachs and Oaktower Partnership as financial advisers for the proposal.
SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification and fraud prevention, announced the appointment of Aaron Seyler as Mitek’s Chief Revenue Officer to lead Mitek’s go-to-market organization, effective as of his start date, August 17, 2026.
Mr. Seyler joins Mitek from Vonage, an Ericsson company, where he led a global go-to-market organization across 17 countries. In his role as Chief Revenue Officer there, he scaled an API-based enterprise software business through a global partner and channel ecosystem, a motion similar to Mitek’s delivery of its identity and fraud capabilities into customer onboarding, authentication, and transaction workflows. Prior to Vonage, he led the go-to-market function at Telesign, a digital fraud and identity protection company, where he helped scale revenue from approximately $200 million to more than $600 million and led its expansion into international markets.
“We are pleased to welcome Aaron to Mitek. Unifying our go-to-market functions under a single CRO creates greater alignment and accountability for growth. Aaron has a strong track record of driving revenue growth at global enterprise software businesses, including in digital identity and fraud, and we believe he is the right leader to drive the next phase of our growth,” said Edward H. West, Chief Executive Officer of Mitek.
"I have spent my career scaling enterprise revenue for software platform businesses, including in digital fraud and identity, and what stands out about Mitek is the trust it has earned with many of the world's largest institutions, the banks and enterprises where protecting identity and assets is mission critical. That trust, together with the technology, data, and services ecosystem beneath it, is difficult to build and difficult to replicate. I am excited to bring our go-to-market teams together and, alongside our partners, help more of these institutions put Mitek's capabilities to work against the growing threat of digital and AI-driven fraud," said Aaron Seyler, Chief Revenue Officer of Mitek.
In connection with Mr. Seyler’s appointment as the Company’s Chief Revenue Officer, the Human Capital Committee of the Company’s Board of Directors approved, effective as of his start date, employment inducement awards in the form of performance-based vesting restricted stock units (“PSUs”) and service-based vesting restricted stock units (“RSUs”), with an aggregate grant date fair value of approximately $2,500,000.
The awards consist of (i) 67,459 PSUs which may vest, if at all, following the completion of the three-year performance period based on the Company’s relative total shareholder return performance measured against the Russell 2000 Index, with up to an additional 67,459 PSUs eligible to vest for above-target performance, and (ii) 67,459 RSUs that vest in four equal annual installments beginning on the first anniversary of the grant date. In each case, vesting of the PSUs and RSUs is subject to Mr. Seyler’s continued employment through the applicable vesting date, subject to earlier vesting provisions in connection with a change in control and certain qualifying terminations of employment.
The PSUs and RSUs were granted as inducement awards material to Mr. Seyler’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4). The awards were granted outside of, and the shares subject to the awards were not drawn from the share reserve under, the Company’s Second Amended and Restated 2020 Incentive Plan (the “Plan”), but are subject to terms and conditions substantially similar to those applicable to awards granted under the Plan.
About Mitek Systems, Inc.
Mitek Systems protects what’s real across digital interactions in a world of evolving threats. Mitek helps businesses verify identities, prevent fraud before it happens, and deliver secure, seamless digital experiences in the face of rapidly advancing AI-generated threats. From account opening to authentication and deposit, Mitek’s technology safeguards critical digital interactions. More than 7,000 organizations rely on Mitek to protect their most important customer connections and stay ahead of emerging risks. Learn more at www.miteksystems.com. [(MITK-F)]
Follow Mitek on LinkedIn and YouTube, and read Mitek’s latest blog posts here.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Mr. Seyler’s expected contributions, the Company’s go-to-market strategy and next phase of growth, and the potential vesting of the PSUs and RSUs. These statements are based on the Company’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including the risks described in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update them except as required by law.
Dime Commercial Bank spustila specializovanou skupinu pro dostupné bydlení, která bude financovat výstavbu i zachování dostupného a workforce bydlení. Vede ji Michael Camoia.
HAUPPAUGE, N.Y., Aug. 17, 2026 (GLOBE NEWSWIRE) -- Dime Commercial Bank today announced its entry into the affordable housing space with the launch of a dedicated group that will serve developers that are building or preserving affordable and workforce housing.
The launch of the Affordable Housing Group is part of Dime’s growth plan to expand specialized commercial banking verticals and drive organic growth through targeted talent acquisition and market expansion.
The group will be led by Michael Camoia, who joins Dime as Senior Vice President, Head of Affordable Housing. Mr. Camoia recently served as Senior Vice President, Director of Community Development and Community Reinvestment Act Finance at BankUnited.
The new vertical will focus on:
Pre-development, construction, and permanent financing for affordable and workforce housing developers, including supportive housing.Tax Credit Equity Investment — Direct equity investments in Low-Income Housing Tax Credit (LIHTC) transactions supporting multifamily, mixed-use, and mixed-income developments.Collaborating with state housing finance agencies, and local CDFIs to expand access to subsidized capital for affordable housing sponsors. “Affordable housing capacity is under strain across the country, and we see this expansion as consistent with our focus of reinvesting in our communities while at the same time developing solid commercial banking business and relationships,” said Stuart H. Lubow, President and Chief Executive Officer of Dime. “The launch reflects both our Community Reinvestment Act strategy and rising demand from developers and municipalities for reliable, well-capitalized lending partners. Dime continues to be the bank-of-choice for talented and entrepreneurial individuals, and we are excited to welcome Mike Camoia to lead this new vertical for us.”
ABOUT DIME COMMERCIAL BANCSHARES, INC.
Dime Commercial Bancshares, Inc. is the holding company for Dime Commercial Bank, a New York State-charted trust company with approximately $15 billion in assets and the number one deposit market share on Greater Long Island (1).
¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for commercial banks with less than $20 billion in assets.
FORWARD-LOOKING STATEMENTS
Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated.
Target má ve středu ráno oznámit hospodářské výsledky; trh čeká pohyb ceny akcií až o 7 % do konce týdne. Odhady počítají s tržbami 26,15 mld. USD a ziskem 2,31 USD na akcii.
Key Takeaways
Target is set to report earnings Wednesday morning, with traders expecting the stock could swing up to 7% by the end of the week.Sales and profits are projected to have grown in the second quarter, as new CEO Michael Fiddelke works to turn around the business.
Target is due to report earnings Wednesday morning, with the retailer’s stock seen potentially extending its recent rally following the results.1
Current options pricing suggests traders expect Target (TGT) shares could swing up to 7% in either direction by the end of the week. A move of that size from Monday’s close could see the stock rise as high as $161, or slip back to $141, giving up some of this year’s gains.
Target shares have surged over 50% since the year began, as investors bought into Target’s turnaround plan under new CEO Michael Fiddelke, who took over the top job at the retailer in February.
Why This Matters to Investors
Wednesday’s results will provide investors with the latest update on Target’s turnaround effort.
Ahead of the results, UBS analysts lifted their price target for the stock to $166 from $144, writing they expect Target’s second-quarter results to “provide the next important proof point that the recovery is becoming more durable.”2 Oppenheimer analysts also recently lifted their target to $170 from $140, telling clients they’ve been “encouraged by the consistent and better in-store execution across geographies and a clear step-up in newness throughout the store.”3
Target is expected to report second-quarter revenue of $26.15 billion, up about 4% year-over-year, along with earnings of $2.31 per share, up from $2.05 the same time a year ago. Comparable store sales growth is seen coming in around 2.6%, which would mark a second straight quarter of gains after the metric fell in all four quarters of 2025.
Still, analysts have hesitated to recommend buying the stock. Of the 10 analysts tracked by Visible Alpha, just three have “buy” ratings, compared to six neutral ratings, and one “sell” recommendation. The stock has already overtaken their mean target of $145 with its recent gains.
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Intel (INTC +0.97%) carries one of the stranger price tags in the market right now. The chipmaker's net loss over the past year comes to about $11.3 billion. Its stock, meanwhile, trades at about $105 as of this writing, up more than 350% from its 52-week low of $22.78. And it costs about 62 times what the company is expected to earn on an adjusted basis over the year ahead.
A company losing billions doesn't usually command a $550 billion market value and a premium growth multiple at the same time. The market has decided Intel's losses aren't what they appear, and on that point, I think the market is right.
Whether the stock is worth that price is a different matter.
Image source: Intel.
Charges, not cashThe second quarter shows what the red ink is made of. Intel reported an $11.0 billion net loss for a quarter in which revenue climbed 25% from a year earlier to $16.1 billion.
Nearly all of the loss traces to a $12.5 billion non-cash, mark-to-market charge on shares Intel holds in escrow for the U.S. government under its CHIPS Act agreement. The first quarter followed the same pattern, with a $3.7 billion net loss that included a $3.9 billion goodwill impairment and another $1.1 billion escrow charge.
Set those items aside, and Intel is already profitable. Non-GAAP (adjusted) net income was $1.5 billion in the first quarter and $2.2 billion in the second.
Gross margin is climbing, too: 39.4% in the first quarter, 40.4% in the second, and management guided to 41% for the third -- a steady expansion. And revenue growth accelerated, from 7% year over year in the first quarter to 25% in the second. Management's own forecast even calls for positive earnings of $0.31 per share in the third quarter on a GAAP basis.
In other words, the swing from red ink to black is already underway.
What is 62 times buying?The loss, then, is mostly an accounting story. The stock's valuation is harder to explain away.
At about $105 a share, Intel trades at roughly 62 times its projected adjusted earnings for the year ahead -- projections that work out to only about $1.70 per share from a company valued at $550 billion. And management's own third-quarter guidance implies something similar. Annualize its guided $0.38 of adjusted earnings per share, and shares trade at roughly 70 times the company's current earnings pace.
Demand isn't the concern. CEO Lip-Bu Tan said in the company's second-quarter earnings release that "AI is driving unprecedented demand for compute," and the numbers back him up. Revenue in Intel's data center and artificial intelligence (AI) segment rose 59% year over year to $6.3 billion last quarter.
Growth like that could well continue. After all, management says supply, not demand, is what limits the business right now.
But growth that has already shown up doesn't get a stock to 62 times earnings on its own. The rest of the price rests on something that hasn't happened yet.
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The $8 billion swingThat something is the foundry. Intel's products businesses already earn plenty. The client computing and physical AI group posted $2.3 billion of operating profit last quarter, and the data center and AI group earned $2.5 billion. Intel Foundry, the chip-manufacturing arm, gave $2.1 billion of that back -- a loss pace of more than $8 billion a year.
Chief Financial Officer Dave Zinsner said last year that the foundry was on track to break even sometime in 2027, and the losses are narrowing, down from $2.4 billion a quarter earlier. Ending them would roughly double the company's current adjusted earnings pace all by itself. Much of that swing, I'd argue, is already baked into the stock's price.
However, the foundry is still overwhelmingly Intel's own customer. External customers supplied $293 million of the unit's $5.8 billion in second-quarter revenue. Intel 14A, the manufacturing process meant to win outside chip designers at scale, isn't scheduled for high-volume production until 2028, so meaningful outside revenue may be a couple of years away.
And the spending comes first. Intel raised its 2026 capital spending outlook to more than $20 billion, expects significantly higher spending in 2027, and sold $20 billion of new stock at $95 a share this month for general corporate purposes.
The turnaround looks impressive. Revenue is accelerating, margins are expanding, and the adjusted bottom line has been positive for two quarters running.
My problem is the price. A 62-times-forward multiple leaves the stock priced for a foundry payoff that still depends on customers who mostly haven't signed yet. Even a company executing this well can be an expensive stock, and I think Intel is one right now.
Compound Finance schválil rekordní rozpočet 52 milionů USD a obměnil vedení, aby se zaměřil na institucionální DeFi. Hodnota uzamčených aktiv na platformě mezitím klesla na 1,2 miliardy USD z vrcholu 12 miliard USD v roce 2021.
Compound Finance has placed a $52 million bet and leadership renewal on its pivot to institutional DeFi. (Miguel Parera/Unsplash)Summary
Compound Finance overhauled its leadership and approved a record $52 million budget as it seeks to revive growth after its total value locked fell to $1.2 billion from a $12 billion peak in 2021.The protocol is pivoting toward institutional clients by developing real-world asset offerings, partner integrations and credit infrastructure designed to meet traditional finance compliance and technical standards.Industry executives say the new leadership team and sizable budget align with a broader shift in DeFi toward serving financial institutions, after the sector’s overall assets declined amid market weakness and security exploits.Compound Finance, one of the oldest decentralized finance (DeFi) lending protocols, replaced its leadership team and approved a $52 million budget on Monday to attract new capital after the value of assets locked on the platform tumbled to $1.2 billion from a peak of $12 billion in September 2021.
The company said it will now focus on attracting institutional users and will offer real-world assets, partner integration and credit infrastructure for traditional financial markets.
Compound pioneered decentralized lending when it started up in 2018, popularizing the concept of earning yield on crypto deposits without intermediaries. It said it has processed roughly $480 billion in deposits and borrowing volume since its inception. Over the past few years, it has lost ground to competitors such as Aave, which holds more than 11 times its TVL with $14.8 billion, DeFiLlama data shows.
As an industry, DeFi is operating from a weakened base. TVL across the sector has fallen by more than a third since the start of the year to roughly $70 billion, driven by a broad correction in the crypto market, compressed yields and a run of protocol exploits, including the $292 million KelpDAO hack in April. Still, the sector is forecast to reach $2.7 trillion by 2030, with tokenized real-world assets (RWAs) among the fastest-growing segments, according to a Standard Chartered projection.
"Now is a great time for initiatives like these, where real capital goes toward both the structural work and the bringing in of bright minds from the institutional sphere who can explain it to a risk committee in their own language,” said Gal Stern, chief business development officer at deBridge, over Telegram. “That combination is what brings institutional confidence back."
The new team includes Chief Operating Officer Christopher Donovan, who previously held the same role at the Near Foundation. Steven Liu, who scaled Maple Finance from $500 million to $5 billion in assets, joins as chief product officer and the former CEO of Coinbase Custody, Aaron Schnarch, becomes an executive director. Other appointees join from Anchorage Digital, HSBC, Broadridge Financial and Maple Finance, the company said.
"DeFi is a remarkable innovation; however, it has achieved limited institutional adoption," Schnarch said in a statement. "Current product offerings fall short of meeting the traditional finance bar, especially as it pertains to compliance and technical requirements."
The move is a logical response to the shift in DeFi's user base, according to Ran Hammer, chief business officer at Orbs.
"Retail participation is a fraction of what it was, and the chain has quietly become a venue for settlement, execution and interaction between financial institutions," Hammer said. “Since DeFi summer, the space has turned into something completely different, essentially a new financial layer for institutions. So bringing in leadership that speaks that language is exactly the right direction."
The size of the allocated budget, the largest approved by Compound's decentralized autonomous organization (DAO), may help underline its commitment.
"The $52 million and a bench with that much institutional experience is a serious move, and it should improve its execution," said Himanshu Sahay, co-founder and chief technology officer of crypto lending firm Arch Lending, but institutions will want more than credentials. They "aren't underwriting teams, they’re underwriting structures."
Aave zvažuje ukončení veřejného bug bounty programu pro své nasazení na Aptosu a ukončení role Cantiny jako poskytovatele. O rozhodnutí musí hlasovat správa.
18 August 2026 | 00:57 Aave is considering ending the public bug bounty for its Aptos deployment. The request is separate from, but connected to, plans for the lending market.
Key Takeaways Aave is reviewing the ongoing security setup around its Aptos deployment. The Aptos version of Aave V3 uses Move and carries a separate technical scope. A different governance proposal covers lending activity and possible limits on new use. July’s market snapshot showed sharply lower liquidity and minimal revenue. Both measures require governance approval before they affect the protocol. Aave’s latest ARFC asks the DAO to sunset the bug-bounty program for Aave V3 on Aptos and end Cantina’s role as its provider.
A bug bounty pays independent researchers for valid vulnerability reports. The program provides an ongoing route for security findings after a product goes live.
The request arrives while Aave is separately debating the future of its Aptos lending market. Those discussions cover the market itself and the services that support it.
Two governance requests cover different parts of Aptos The Aptos discussion involves two Aave proposals.
The market proposal: A July ARFC on low-adoption markets recommends limiting new use of Aave V3 on Aptos while current positions are reduced over time. The bounty proposal: The newer ARFC asks whether Aave should continue funding an Aptos-only bug bounty through Cantina. The market proposal deals with deposits, borrowing and available liquidity. The bounty proposal covers rewards for researchers who report security issues.
Both requests are awaiting governance approval. The protocol configuration remains unchanged unless a later governance action implements either measure.
Why Aptos had a dedicated bounty Aave launched on Aptos with a separate version of V3. Aptos uses Move, while Ethereum smart contracts commonly use Solidity.
According to Aave’s launch announcement, the Move-based deployment went through audits, a Cantina mainnet security competition and a bounty offering up to 500,000 GHO, Aave’s stablecoin.
Each measure serves a different purpose:
Audits examine code before or around a launch. Security competitions give researchers a set period to test a project. Bug bounties reward valid reports while the program remains open. Cantina’s published Aptos scope covered Move modules, frontend components, APIs and deployment configuration. The program covered the full Aptos product setup.
Aave outlined this arrangement in its 2026 bounty-program restructuring proposal, which assigned Aave V3 on Aptos to Cantina while other Aave products used different providers.
Aptos market activity had already fallen The July market proposal described a sharp decline in Aptos activity.
At the time of publication, it estimated about $1.7 million in supplied assets and roughly $719,000 in debt. Available liquidity had fallen from around $18 million to $1 million over the previous six months, while quarterly revenue was below $1,000.
These figures reflect the market conditions reported in July. The proposal recommended freezing Aptos reserves and setting supply and borrow caps to one. Approval would block meaningful new deposits and borrowing while existing suppliers and borrowers reduce their positions.
The document leaves the bounty program’s costs undisclosed, preventing a direct calculation between that expense and the market’s decline. The lower level of activity still provides the backdrop for Aave’s review of a dedicated Aptos security program.
What the proposals mean for users and researchers For Aave users The bounty proposal affects the reward program for outside researchers. Lending parameters, withdrawal access and borrowing conditions remain tied to the live protocol configuration and any separately approved market changes.
Users with an Aptos position should follow the market proposal and later governance decisions. Those measures would determine the timetable and limits for activity on Aave V3.
For security researchers Eligibility follows the active terms published by Aave and Cantina. The ARFC asks to sunset the program, while the published scope and any approved closure terms determine which reports qualify for a reward.
Closing the bounty would close this public reporting and reward route for Aave V3 on Aptos.
The two Aptos plans now move together Aave Labs recorded the release of Aave V3 on Aptos in its June 2025 development update. The launch introduced Aave’s first deployment outside Ethereum-compatible networks and required its own codebase and security setup.
Approval of both proposals would narrow Aave’s Aptos operations. The market would admit less new lending activity, and the dedicated public bounty through Cantina would close.
The decisions concern Aave’s own Aptos deployment, its activity levels and the operating work required to maintain it.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
21Shares Polkadot ETF TDOT ve 2. čtvrtletí 2026 prodal DOT za zhruba 107 500 USD na stakingové výplaty, ale realizoval asi 485 600 USD ztrát. Na každý 1 USD výnosu připadlo přibližně 4,52 USD ztrát.
PANews reported on August 18, citing Protos, that the latest disclosure for 21Shares’ Polkadot ETF (TDOT) shows that in the second quarter of 2026, when the fund sold DOT tokens to pay staking yield, every $1 of distribution income was accompanied by about $4.52 in realized losses.
According to regulatory filings, TDOT sold 98,505 DOT in the second quarter, generating about $107,500 in cash to pay staking yield to shareholders. However, due to a sharp decline in DOT’s price, these sales recognized about $485,600 in losses.
Data shows DOT fell about 34% in the second quarter of 2026, and its cumulative decline over the 12 months ended June 30 reached 76%. Because TDOT shareholders receive distributions denominated in U.S. dollars rather than directly receiving DOT staking rewards, the fund needs to sell DOT to convert into cash payments, thereby locking in losses in a low-price environment. In the second quarter, TDOT paid cumulative distributions of about $0.14698 per share, but over the same period the fund’s share price fell from $14.95 to $9.86, a decline of about 34%. Staking yield did not offset the losses caused by the decline in asset prices.
By comparison, other crypto staking funds realized significantly smaller losses in the second quarter. Among them, the Invesco Galaxy Solana fund realized about $0.89 in losses for every $1 of yield paid, while Solana, Sui, and Ethereum staking funds recorded corresponding losses of about $0.74, $0.31, and $0.25, respectively. In addition, TDOT incurred further losses in the second quarter from investor redemptions and management fee payments, bringing total realized losses to about $2.5 million.
Polkadot was once expected to build the “blockchain internet,” using a parachain architecture to achieve cross-chain interoperability and high-throughput execution. But its ecosystem total value locked (TVL) is now less than $100 million, and DOT’s price has fallen about 97% from its all-time high, while market attention continues to decline. At the same time, Grayscale withdrew its Polkadot ETF registration application in August, further reflecting pressure on demand for DOT-related investment products.
Hedera posílila díky rostoucímu institucionálnímu přijetí po dokončení prvního britského FX pilotu s tokenizovanými aktivy jako zástavou. HBAR zároveň za posledních 24 hodin přidal 1,19 %.
Hedera (HBAR) is drawing attention as it maintains a major demand zone in a broadly bearish crypto environment and sees its role expand in institutional finance. Despite the market’s downside pressure, traders are watching closely for early signs of a bullish reversal in the HBAR price.
HBAR price holds key supportHBAR trades at $0.06594, with a 24-hour volume of $30.91 million and market capitalization reaching $2.89 billion. The token gained 1.19% over the last 24 hours, and analysts note that both price structure and network activity suggest a possible shift to the upside for HBAR.
Crypto analyst Crypto Patel remarked that HBAR remains approximately 84% below its 2024 high and is yet to reclaim its former peak. Despite this, the $0.0435–$0.057 zone continues to act as a robust support level on the weekly timeframe, previously sparking significant rallies of 1,823%, 816%, and 1,600%.
Traders are monitoring this area for accumulation and increased buying before expecting an upward breakout in price. For a bullish reversal to materialize, market participants expect a liquidity sweep, a reclaim of the level, a change of character (CHoCH), and a break of structure (BOS).
Should these technical signals align, HBAR could set its sights on targets at $0.10, $0.30, $0.50, $0.70, and eventually $1 as broader bullish conditions take hold. However, a weekly close below $0.03563 may invalidate this bullish scenario, indicating heightened downside risk.
Level/ZoneDescription$0.0435–$0.057Key demand zone, historical support$0.10First major target in bull scenario$0.30, $0.50, $0.70, $1Further upside targets$0.03563Bearish invalidation thresholdUK FX pilot drives institutional progressHedera’s institutional momentum has accelerated with the completion of the UK’s first foreign exchange pilot using tokenized assets as collateral. The pilot, conducted in partnership with Lloyds Banking Group, Aberdeen Investments, and Archax, utilized Hedera’s network to settle trades involving tokenized money market funds and UK government bonds.
Token Relations indicated that the pilot highlights Hedera’s growing influence in the tokenization of real-world assets and its expanding role in financial infrastructure. The project also involves key integrations with Taurus, Utila, Mastercard, and Assetto, further reinforcing Hedera’s institutional engagement.
Mini dictionary: Hedera is a decentralized public network designed for enterprise-grade applications, using the Hashgraph consensus mechanism to provide fast, fair, and secure transactions. Tokenization refers to the representation of real-world assets on blockchain networks as digital tokens, enabling efficient settlement and greater access to traditional financial markets.
Hashgraph, the underlying protocol of Hedera, reported expanding adoption among institutions. Tools supporting developers and payment services have also contributed to wider usage of the Hedera network.
Price outlook and institutional impactWith the broader crypto market sentiment improving and Bitcoin showing recovery, HBAR has also experienced upward momentum. Analysts point out that the sustainability of this trend for HBAR largely depends on buyers defending the $0.0435–$0.057 zone and moving beyond important resistance levels.
Market observers believe confirmation of both a CHoCH and BOS would improve the probability of a bullish trend reversal, targeting $0.10 as the initial upside threshold. Rising institutional participation in real-world asset tokenization could further strengthen HBAR demand.
Traders continue to focus on the $0.0435–$0.057 region as a key area for potential accumulation and an early signal for new bullish momentum.
A close below $0.03563 on the weekly chart, however, would undermine the bullish case and may prompt further price declines.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Burn rate Internet Computer vyskočil na zhruba 0,30 TCYCLES za sekundu, tedy 6 až 10krát nad běžnou úroveň. Spustil ho záměrný zátěžový test aplikace Toko App na síti ICP.
Data from the @dfinity dashboard on August 17 showed a sharp spike in Internet Computer's Cycle Burn Rate, climbing to roughly 0.30 TCYCLES per second. That compares with a recent baseline of 0.03 to 0.05 TCYCLES per second, representing a 6 to 10 times increase from normal operating levels.
The trigger was a deliberate load test run by Toko App, an NFT application built on the Internet Computer ($ICP) network, designed to stress-test the protocol's fleet management capabilities. The test was expected to run for most of the day.
What a Higher Burn Rate Actually MeansThe spike is more than a technical footnote. On the Internet Computer, cycles are consumed whenever canisters, the protocol's smart contract units, execute programs, store data, or process messages. A higher burn rate therefore signals real computation being performed on the network, not speculative activity.
Crucially, generating cycles requires burning $ICP tokens through the Cycles Minting Canister process. ICP is burned when it is converted into cycles, which are used to pay for on-chain compute, storage, and bandwidth on the Internet Computer. Those tokens are permanently removed from circulation, creating a direct deflationary effect on supply.
As the ecosystem expands and more developers join, the cycle burn rate accelerates, which could push the token into a deflationary phase and drive further upward price pressure as ICP supply diminishes.
The Mission 70 ConnectionThe timing matters because of Mission 70, @dfinity's flagship tokenomics initiative for 2026. The Internet Computer's Network Nervous System has approved Mission 70, a set of changes to voting and node-provider rewards designed to cut ICP inflation by at least 70% by the end of 2026.
The plan involves a dual approach of reducing token supply and increasing demand. On the supply side, DFINITY intends to cut governance voting rewards and node provider incentives, aiming for a 44% reduction in token issuance. On the demand side, the foundation is betting on AI adoption and on-chain usage to consume $ICP tokens as cycles, fostering a deflationary effect.
Events like the Toko App load test illustrate how the demand side of that equation can work in practice. Even a temporary increase in network activity translates directly into accelerated token burns, reinforcing the deflationary mechanics that Mission 70 is designed to embed structurally.
Whether burn rates at this elevated level persist beyond isolated tests remains to be seen. But the metric itself is one of the clearest real-time indicators of genuine network demand on the Internet Computer.
Sources:
Internet Computer Network Dashboard, @dfinity
Mission 70 White Paper, Dominic Williams, DFINITY Foundation
ICP Extends Rally as Mission 70 White Paper Targets 70% Inflation Cut, Yahoo Finance
In brief Solana's PUMP is today's the top performer in the top 100 coins by market cap, up 8.26% The technical signals on the charts are starting to paint a more optimistic picture for PUMP holders. Protocol revenue on the Pump.fun app hit a new weekly high of $10.03 million on August 11. The crypto market is up 1.1% on a Monday that opened with Fear & Greed Index score at 39, meaning markets may still be fearful, but they're not in panic mode anymore. Meanwhile, the Altcoin Season Index is at 44 out of 100, which typically means traders go to Bitcoin as a hedge against volatility and overly bearish movements. Bitcoin dominance remains high enough that most altcoins are treading water.
The native token of the Solana meme coin factory, Pump.fun, is not treading water. Pump’s token, which trades as PUMP, is the best-performing coin in the top 100 on the day, posting almost 9% of gains in today’s trading session. And the technical signals are finally backing up what the revenue numbers suggested weeks ago.
PUMP bottomed at $0.001491 in July and has since nearly doubled, touching $0.003000 intraday today before settling at $0.002933. The monthly gain sits at roughly 90%, per CoinMarketCap
The 50-day Exponential Moving Average, or EMA—which tracks short-term price momentum by weighting recent closes more heavily, is crossing above the slower and longer-term 200-day EMA, which represents the long-term trend baseline. That crossover, called a golden cross, signals a structural shift from a bearish trend to a bullish one.
It's not a guarantee of continuation, but it is the first time since PUMP launched in mid-2025 that short-term momentum has overtaken the long-term average from below. After months in which the 200-day served as a ceiling, it's now beginning to act as a floor.
The Average Directional Index, or ADX, measures trend strength independent of direction on a scale from 0 to 100. Anything above 25 is considered a trending market; anything above 40 is a strong one. PUMP's ADX reads 45.3, with the positive directional indicator above the negative—meaning bulls are in control of a strengthening move. The Relative Strength Index, or RSI, sits at 51.4, above the 50 midline that separates bullish from bearish momentum territory, but far enough from 70 to leave room for continuation without an overbought red flag.
What's driving the moveThe chart isn't operating in a vacuum. The protocol generated $11.52 million in seven-day revenue, per DefiLlama, of which $5.37 million flowed directly to PUMP token holders through the buyback-and-burn program—the mechanism that converts fee income into direct buy pressure on the token.
This means the float has seasoned, early distribution has largely cleared, and a consistent buyback gives the chart a fundamental bid that chart patterns alone don't.
Also, Pump.fun's new social trading features introduced to compete against trading app Fomo's offerings to top traders appears to have restored confidence in the protocol's positioning.
The derivatives market is also aligned. Open interest in PUMP perpetuals stands at $238.42 million, per Coinglass, up from roughly $189 million two weeks ago, when the token was still testing $0.0025.
The simultaneous rise in price and open interest suggests fresh capital is entering rather than short positions closing. Funding rates have flipped positive during the recovery, meaning leveraged longs are now paying shorts to hold their positions—a signal that the market is building conviction, though one that makes the setup more vulnerable to a sharp flush if price reverses.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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Rocket Lab se zapojil do programu americké Space Force NITE-STAR s limitem 981 mil. USD. Firma může soutěžit o zakázky na testovací a tréninkovou infrastrukturu pro vesmírné operace.
LONG BEACH, Calif., Aug. 17, 2026 (GLOBE NEWSWIRE) -- Rocket Lab Corporation (Nasdaq: RKLB), a global leader in launch services and space systems, today announced it has been onboarded to the United States Space Force’s NITE-STAR (NSTTC Innovative Technology & Engineering – Space Test and Range) IDIQ contract, an advanced space test and training infrastructure with a $981M contract ceiling.
Managed by the U.S. Space Force’s Space Systems Command, the NITE-STAR contract is intended to support a distributed test and training architecture to help prepare space operators for contested scenarios. The program supports the Space Force’s mission to build an integrated test and training infrastructure that prepares space operators for contested scenarios and advances space warfighter readiness.
As an awardee, Rocket Lab is now eligible to compete for task orders within the program, representing a significant opportunity to leverage its expertise in satellite development, space software, space systems engineering, and mission operations. NITE-STAR will focus on several key areas, including the development and integration of space-based systems, deployment of ground systems, creation of digital environments, and sustainment of operational systems.
Rocket Lab’s selection builds on its extensive history of supporting U.S. government and defense initiatives, including successful missions for the Department of War, the National Reconnaissance Office, and NASA. Rocket Lab’s vertically integrated approach — encompassing satellite design, manufacturing, launch, and on-orbit operations — ensures the rapid and reliable delivery of critical space systems.
“Being selected for the NITE-STAR program highlights Rocket Lab’s commitment to advancing space innovation and supporting the U.S. Space Force’s mission to ensure space readiness,” said Brad Clevenger, Vice President of Space Systems at Rocket Lab. “We’re proud to bring our expertise in satellite development, mission operations, and space systems engineering to this critical effort.”
About Rocket Lab
Rocket Lab (Nasdaq: RKLB) is an end-to-end space company delivering rockets, satellites, and spacecraft components for commercial, government, and defense missions. Driven by its industry-leading small-lift rockets Electron and HASTE and its upcoming reusable Neutron medium-lift rocket, Rocket Lab delivers reliable and responsive launch for the world’s most important missions from constellation deployment to missile defense. Rocket Lab’s satellites and components have powered more than 1,700 missions in Earth orbit, as well as deep-space exploration of the Moon, Mars, and beyond. Learn more at www.rocketlabcorp.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion, business strategy, and our participation in the NITE-STAR program, future task order awards, development, integration and deployment of space-based and ground-based systems, creation and use of digital test and training environments, mission operations, sustainment activities, and other aspects of the NITE-STAR program are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at https://investors.rocketlabcorp.com which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/82a8e08e-6cb7-4cbc-ba5b-4bfc50939f28
Rocket Lab Launch Rocket Lab Onboarded to U.S. Space Force’s $981M NITE-STAR Program to Advance Space Test and Trainin...
XP Inc.A (XP - Free Report) came out with quarterly earnings of $0.53 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +3.92%. A quarter ago, it was expected that this company would post earnings of $0.48 per share when it actually produced earnings of $0.47, delivering a surprise of -2.08%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
XP Inc.A, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $966.45 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.03%. This compares to year-ago revenues of $786.31 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
XP Inc.A shares have lost about 3.4% since the beginning of the year versus the S&P 500's gain of 13.7%.
What's Next for XP Inc.A?While XP Inc.A has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for XP Inc.A was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.53 on $999.94 million in revenues for the coming quarter and $2.11 on $3.95 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the top 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, IREN Limited (IREN - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 27.
This company is expected to post quarterly loss of $0.80 per share in its upcoming report, which represents a year-over-year change of -1100%. The consensus EPS estimate for the quarter has been revised 65.1% lower over the last 30 days to the current level.
IREN Limited's revenues are expected to be $138.89 million, down 25.8% from the year-ago quarter.
XP ve 2. čtvrtletí zvýšila tržby na BRL 5,1 miliardy, meziročně o 8 %, a upravený čistý zisk na BRL 1,4 miliardy. Růst podpořily akcie, poplatky za fondy a corporate banking.
3 Stocks Set to Double—And There's Still Time to BuyXP NASDAQ: XP reported second-quarter 2026 gross revenue of BRL 5.1 billion, up 8% from a year earlier, as growth in equities, fund-platform fees and corporate banking partly offset pressure from credit-market volatility and weaker primary debt offerings.
Adjusted earnings before taxes rose 15% year over year to BRL 1.6 billion, while adjusted net income increased 5% to BRL 1.4 billion. Adjusted diluted earnings per share grew about 9%, aided by the company’s share repurchase program. Return on equity rose 80 basis points sequentially to 22.5%, and XP ended the quarter with a Basel capital ratio of 20.3%.
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5 High-Yielding Oversold Stocks with Bullish RatingsCEO Thiago Maffra said geopolitical tensions and residual market volatility continued to affect results, particularly through wider credit spreads and fewer primary debt capital markets offerings. He said the company would have delivered double-digit revenue growth, in the low-teens range, without those effects.
“Despite the market volatility we faced in the first half of the year, our core businesses continued to perform well with resilient underlying momentum,” Maffra said. He added that the company began to see market normalization toward the end of the quarter and a gradual recovery in its fixed-income pipeline.
Client assets reach BRL 2.2 trillion Analysts Recommend These Stocks To Cushion The Automotive SlumpCombined client assets, including assets under management and assets under administration, reached approximately BRL 2.2 trillion, rising 17% year over year. Retail net new money totaled BRL 20 billion in the quarter, meeting XP’s internal target, while corporate and institutional net inflows were BRL 8 billion. Total net new money was BRL 28 billion.
The company ended the quarter with 4.8 million active clients, up 1% from a year earlier, and 184,000 advisors, also up 1%. Its net promoter score was 66 points, which Maffra said reflected a continuing recovery from one-time events that affected client satisfaction in prior quarters.
XP said it is expanding beyond product distribution toward a broader wealth-planning model that includes financial, tax and succession planning. More than 26% of client assets are now under fee-based arrangements, according to Maffra. The company is also broadening offshore investment capabilities and launching products including ETFs and managed portfolios.
Retail revenue supported by equities and funds Retail revenue totaled BRL 3.9 billion, up 8% year over year and 3% sequentially. CFO Gustavo Alejo said that excluding mark-to-market effects tied to fixed-income corporate credit, retail revenue would have grown 15% in the first half of 2026 compared with the same period a year earlier.
Equities revenue rose 11% year over year to nearly BRL 1.1 billion, despite lower average daily trading volume in equities and futures. Sequentially, equities revenue fell 2%, while average daily trading volume declined about 8%.
Fund-platform revenue increased 23% year over year and 7% from the prior quarter, aided by the booking of management and performance fees. New verticals and other retail revenue streams, including float, the international platform and foreign exchange, also contributed to growth.
During the question-and-answer session, Maffra said fixed-income revenue was affected by a sharp shift in client demand toward short-duration, daily-liquidity products. He said roughly 70% of fixed-income platform sales were in daily-liquidity products, compared with about 30% three or four quarters earlier. Such products generate lower daily accrual revenue than longer-duration corporate bonds, he said.
Maffra also said the company faced roughly BRL 420 million of mark-to-market impact during the first half, including less than BRL 300 million in the first quarter and approximately BRL 100 million to BRL 160 million in the second quarter. XP reduced the size of its relevant trading books during the first half, though Maffra said the company would remain exposed to some mark-to-market movements because maintaining such books is part of its business.
Wholesale growth led by corporate business Wholesale banking revenue, including corporate issuer services and institutional revenue, increased 32% year over year and 3% sequentially. The corporate segment posted revenue growth of 117% from a year earlier and 22% from the first quarter, supported by cross-selling of derivatives, foreign exchange and credit solutions.
However, issuer services were pressured by a reduced number of fixed-income offerings, particularly tax-exempt instruments, amid lower investor risk appetite. Maffra said debt capital markets activity in the third quarter was improving from the second quarter but remained softer than recent periods and below the record volumes seen in 2025.
The company said it expects corporate revenue to remain strong in the third quarter. Maffra characterized current corporate-business activity as a level XP expects to be sustainable over time, while emphasizing that the company would maintain conservative credit standards.
XP is also preparing to expand its offering for small and medium-sized businesses. Maffra said a platform for small businesses, including cards, payment acquiring and collateralized credit products, is scheduled to go live Sept. 1. The company recently announced a partnership for a point-of-sale device and a credit card aimed at the segment.
For small-business lending, Maffra said XP intends to focus primarily on collateralized credit, including credit backed by card receivables and other receivables, as well as certain government-related programs. “We are going to go step by step,” he said.
Capital returns and expense outlook XP’s selling, general and administrative expenses were BRL 1.6 billion, rising 5% year over year and 2% sequentially. Its trailing-12-month efficiency ratio was 34.3%, up 30 basis points from a year earlier but down roughly 30 basis points sequentially.
Alejo said XP continues to target a broadly flat efficiency ratio for the full year, although expenses are expected to rise in nominal terms in the second half due to seasonal items such as bonus provisions and the company’s EXPERT event. Maffra said technology spending is increasing, particularly on artificial intelligence, servers and cloud infrastructure.
The company expects to launch an AI advisor for digital retail clients around late August or early September. Maffra said XP expects client growth in that segment to accelerate in 2027 as its product offering becomes more comprehensive.
On capital management, XP had completed BRL 1 billion under a prior repurchase authorization as of the end of June and still had another BRL 1 billion buyback program open. Including approximately BRL 500 million in dividends paid in June, XP had announced nearly BRL 2.5 billion in capital distributions during 2026. The company also plans to cancel approximately 11.8 million treasury shares, representing about 2.3% of shares outstanding.
Maffra said XP is comfortable reducing its Basel ratio toward its 16% to 19% target range and expects capital distributions for the year to exceed 50% of earnings, with the mix between dividends and repurchases depending in part on the share price.
About XP (NASDAQ:XP)XP Inc provides financial products and services in Brazil. It offers securities brokerage, private pension plans, commercial, and investment banking products, such as loan operations and transactions in the foreign exchange markets and deposits; product structuring and capital markets services for corporate clients and issuers of fixed income products; advisory services for mass-affluent and institutional clients; and wealth management services for high-net-worth customers and institutional clients.
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Yalla Group oznámila za 2. čtvrtletí tržby 82,6 mil. USD a čistý zisk 29,3 mil. USD. Průměrný měsíční počet aktivních uživatelů (MAU) vzrostl o 12,3 % na 47,6 mil.
, /PRNewswire/ -- Yalla Group Limited ("Yalla" or the "Company") (NYSE: YALA), the largest Middle East and North Africa (MENA)-based online social networking and gaming company, today announced its unaudited financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 Financial and Operating Highlights
Revenues were US$82.6 million in the second quarter of 2026, compared with US$84.6 million in the second quarter of 2025. Revenues generated from chatting services in the second quarter of 2026 were US$47.4 million. Revenues generated from games services in the second quarter of 2026 were US$34.2 million. Net income was US$29.3 million in the second quarter of 2026, compared with US$36.5 million in the second quarter of 2025. Net margin[1] was 35.5% in the second quarter of 2026. Non-GAAP net income[2] was US$34.4 million in the second quarter of 2026, compared with US$39.4 million in the second quarter of 2025. Non-GAAP net margin[3] was 41.7% in the second quarter of 2026. Average MAUs[4] increased by 12.3% to 47.6 million in the second quarter of 2026, compared with 42.4 million in the second quarter of 2025. The number of paying users[5] was 10.9 million in the second quarter of 2026, compared with 11.2 million in the second quarter of 2025. Key Operating Data
For the three months ended
June 30, 2025
June 30, 2026
Average MAUs (in thousands)
42,421
47,625
Paying users (in thousands)
11,186
10,861
[1] Net margin is net income as a percentage of revenues.
[2] Non-GAAP net income represents net income excluding share-based compensation. Non-GAAP net income is a non-GAAP financial measure. See the sections titled "Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" for more information about the non-GAAP measures referred to in this press release.
[3] Non-GAAP net margin is non-GAAP net income as a percentage of revenues.
[4] "Average MAUs" refers to the average monthly active users in a given period, calculated by dividing (i) the sum of active users for each month of such period by (ii) the number of months in such period. "Active users" refers to registered users who accessed any of our main mobile applications at least once during a given period; main mobile applications are mobile applications that have exceeded the 0.5 million average MAUs threshold at least once.
[5] "Paying users" refers to registered users who played a game or purchased our virtual items or upgraded services using virtual currencies on our main mobile applications at least once in a given period, except for users who received all of their virtual currencies directly or indirectly from us for free. "Registered users" refers to users who have registered accounts on our main mobile applications as of a given time; a registered user is not necessarily a unique user, as an individual may register multiple accounts on our main mobile applications.
"We delivered solid results across our flagship products and growing momentum in our gaming business in the second quarter of 2026," said Mr. Tao Yang, Founder, Chairman and CEO of Yalla. "Our revenues exceeded the upper end of our guidance, driven by an 11.6% year-over-year increase in revenues from games services. Meanwhile, our core products continued to build momentum, with refined operations and targeted marketing driving a sequential rebound in paying users for Yalla Ludo and a 12.3% year-over-year increase in overall average MAUs to 47.6 million.
"Beyond the sustained strength of our flagship products, we made progress in expanding our gaming ecosystem. Our new games, including our first self-developed match-3 title and desert-themed SLG title, continued to advance smoothly with a clear roadmap taking shape for the next stage of development. We also continued to strengthen our pipeline of self-developed products, spanning casual games, hyper-casual games, social products and AI applications, designed to maximize the synergy between our social and gaming ecosystems. Building on years of deep-rooted expertise in MENA, we will continue to unlock local opportunities and broaden our reach globally through strategic partnerships to deliver sustainable growth for our shareholders."
Ms. Karen Hu, CFO of Yalla, commented, "In the second quarter of 2026, we continued to pursue high-quality development while maintaining solid profitability. Total revenues were US$82.6 million, with revenues from games services growing to US$34.2 million, increasing the segment's contribution to 41.4%. While doubling our selling and marketing expenses year over year to support the promotion of new products, we maintained a healthy non-GAAP net margin of 41.7% through increased efficiency. Our balance sheet and cash flow remain ample to support our investments in business expansion as well as consistent shareholder returns. Going forward, we will continue to invest in long-term growth while driving value creation."
Second Quarter 2026 Financial Results
Revenues
Revenues were US$82.6 million in the second quarter of 2026, compared with US$84.6 million in the second quarter of 2025, primarily due to a decrease in paying users attributable to the impact of recent geopolitical events in the broader region, partially offset by an increase in revenues from games services.
In the second quarter of 2026, revenues generated from chatting services were US$47.4 million, and revenues from games services were US$34.2 million.
Costs and expenses
Total costs and expenses were US$63.2 million in the second quarter of 2026, compared with US$53.9 million in the second quarter of 2025.
Cost of revenues was US$26.8 million in the second quarter of 2026, a 4.1% decrease from US$27.9 million in the second quarter of 2025, primarily due to lower commission fees paid to third-party payment platforms. Cost of revenues as a percentage of total revenues decreased to 32.4% in the second quarter of 2026 from 33.0% in the second quarter of 2025.
Selling and marketing expenses were US$17.8 million in the second quarter of 2026, a 106.0% increase from US$8.7 million in the second quarter of 2025, primarily due to higher advertising and market promotion expenses attributable to the Company's continued user acquisition efforts and support for new games. Selling and marketing expenses as a percentage of total revenues increased to 21.6% in the second quarter of 2026 from 10.2% in the second quarter of 2025.
General and administrative expenses were US$8.6 million in the second quarter of 2026, a 4.0% decrease from US$9.0 million in the second quarter of 2025, primarily due to a decrease in incentive compensation, partially offset by an increase in foreign exchange loss. General and administrative expenses as a percentage of total revenues slightly decreased to 10.5% in the second quarter of 2026 from 10.6% in the second quarter of 2025.
Technology and product development expenses were US$9.9 million in the second quarter of 2026, an 18.9% increase from US$8.3 million in the second quarter of 2025, primarily due to an increase in salaries and benefits for our technology and product development staff, driven by an increase in headcount to support the development of new businesses and our product portfolio expansion. Technology and product development expenses as a percentage of total revenues increased to 12.0% in the second quarter of 2026 from 9.9% in the second quarter of 2025.
Operating income
Operating income was US$19.4 million in the second quarter of 2026, compared with US$30.6 million in the second quarter of 2025.
Non-GAAP operating income[6]
Non-GAAP operating income in the second quarter of 2026 was US$24.5 million, compared with US$33.5 million in the second quarter of 2025.
Interest income
Interest income was US$5.4 million in the second quarter of 2026, compared with US$6.8 million in the second quarter of 2025.
Investment income
Investment income was US$5.1 million in the second quarter of 2026, compared with US$0.02 million in the second quarter of 2025, primarily due to changes in the fair value of wealth management products.
Income tax expense
Income tax expense was US$0.6 million in the second quarter of 2026, compared with US$1.5 million in the second quarter of 2025.
Net income
Net income was US$29.3 million in the second quarter of 2026, compared with US$36.5 million in the second quarter of 2025.
Non-GAAP net income
Non-GAAP net income in the second quarter of 2026 was US$34.4 million, compared with US$39.4 million in the second quarter of 2025.
Earnings per ordinary share
Basic and diluted earnings per ordinary share were US$0.21 and US$0.18, respectively, in the second quarter of 2026, while basic and diluted earnings per ordinary share were US$0.24 and US$0.20, respectively, in the second quarter of 2025.
Non-GAAP earnings per ordinary share[7]
Non-GAAP basic and diluted earnings per ordinary share were US$0.24 and US$0.21, respectively, in the second quarter of 2026, compared with US$0.25 and US$0.22, respectively, in the second quarter of 2025.
Cash and cash equivalents, restricted cash, term deposits and short-term investments
As of June 30, 2026, the Company had cash and cash equivalents, restricted cash, term deposits and short-term investments of US$824.2 million, compared with US$754.6 million as of December 31, 2025.
[6] Non-GAAP operating income represents operating income excluding share-based compensation. Non-GAAP operating income is a non-GAAP financial measure. See the sections titled "Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" for more information about the non-GAAP measures referred to in this press release.
[7] Non-GAAP earnings per ordinary share is non-GAAP net income attributable to Yalla Group Limited's shareholders, divided by the weighted average number of basic and diluted shares outstanding. Non-GAAP net income attributable to Yalla Group Limited's shareholders represents net income attributable to Yalla Group Limited's shareholders, excluding share-based compensation. Non-GAAP earnings per ordinary share and non-GAAP net income attributable to Yalla Group Limited's shareholders are non-GAAP financial measures. See the sections titled "Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" for more information about the non-GAAP measures referred to in this press release.
Share Repurchase Program
Under the Company's two share repurchase programs launched in 2021 and 2026 (the "2021 Program" and the "2026 Program"), the Company repurchased 4,357,024 American depositary shares ("ADSs"), representing 4,357,024 Class A ordinary shares, for an aggregate amount of approximately US$27.6 million in the first half of 2026. Of this number, 2,896,035 ADSs, representing 2,896,035 Class A ordinary shares, were repurchased during the second quarter of 2026, for an aggregate amount of approximately US$18.0 million.
The 2021 Program expired on May 21, 2026. Under the 2021 Program, the Company was authorized to repurchase up to US$150 million worth of its outstanding ADSs and/or Class A ordinary shares, and the Company repurchased a cumulative total of 18,762,758 ADSs, representing 18,762,758 Class A ordinary shares, from the open market with cash for an aggregate amount of approximately US$126.5 million.
In addition, the Company had cancelled 12,734,059 ADSs, representing 12,734,059 Class A ordinary shares, as of August 14, 2026. The Company will continue executing its 2026 Program, under which the Company may repurchase up to US$150 million worth of its outstanding ADSs and/or Class A ordinary shares over the 24 months starting from March 9, 2026.
Outlook
For the third quarter of 2026, Yalla currently expects revenues to be between US$78.0 million and US$85.0 million.
The above outlook is based on current market conditions and reflects the Company management's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.
Conference Call
Yalla Group Limited will hold a conference call on Monday, August 17, 2026, at 8:00 PM Eastern Time, 4:00 AM Dubai Time on Tuesday, August 18, 2026, or 8:00 AM Beijing Time on Tuesday, August 18, 2026, to discuss the financial results.
Participants should complete online registration using the link provided below before the scheduled start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.
Event Title: Yalla Group Ltd. Second Quarter 2026 Earnings Conference Call
Registration Link: https://register-conf.media-server.com/register/BIa9b95130104d40aa9a598586197e750b
Additionally, a live webcast of the conference call will be available on the Company's investor relations website at https://ir.yalla.com, and a replay of the webcast will be available following the session.
Non-GAAP Financial Measures
To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP, this press release presents non-GAAP financial measures, namely non-GAAP operating income, non-GAAP net income, non-GAAP net margin and non-GAAP basic and diluted earnings per ordinary share, as supplemental measures to review and assess the Company's operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define non-GAAP operating income as operating income excluding share-based compensation. We define non-GAAP net income as net income excluding share-based compensation. We define non-GAAP net margin as non-GAAP net income as a percentage of revenues. We define non-GAAP net income attributable to Yalla Group Limited's shareholders as net income attributable to Yalla Group Limited's shareholders, excluding share-based compensation. We define non-GAAP earnings per ordinary share as non-GAAP net income attributable to Yalla Group Limited's shareholders, divided by the weighted average number of basic and diluted shares outstanding.
By excluding the impact of share-based compensation expenses, which are non-cash charges, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company's past performance and future prospects. Investors can better understand the Company's operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess its core operating results, as they exclude share-based compensation expenses, which are not expected to result in cash payments. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using the non-GAAP financial measures is that they do not reflect all items of income and expense that affect the Company's operations. Share-based compensation has been and may continue to be incurred in the Company's business and is not reflected in the presentation of non-GAAP financial measures. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.
The Company compensates for these limitations by providing the relevant disclosure of its non-GAAP financial measures in the reconciliations to the nearest U.S. GAAP performance measures, all of which should be considered when evaluating its performance. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
Reconciliations of GAAP and non-GAAP results are set forth at the end of this press release.
About Yalla Group Limited
Yalla Group Limited is the largest MENA-based online social networking and gaming company, in terms of revenues in 2022. The Company operates two flagship mobile applications, Yalla, a voice-centric group chat platform, and Yalla Ludo, a casual gaming application featuring online versions of board games, popular in MENA, with in-game voice chat and localized Majlis functionality. Building on the success of Yalla and Yalla Ludo, the Company continues to add engaging new content, creating a regionally-focused, integrated ecosystem dedicated to fulfilling MENA users' evolving online social networking and gaming needs. Through its holding subsidiary, Yalla Game Limited, the Company has expanded its capabilities in mid-core and hard-core games in the MENA region, leveraging its local expertise to bring innovative gaming content to its users. In addition, the growing Yalla ecosystem includes YallaChat, an IM product tailored for Arabic users, and casual games such as Yalla Baloot and 101 Okey Yalla, developed to sustain vibrant local gaming communities in MENA. Yalla is also actively exploring outside of MENA with Yalla Parchis, a Ludo game designed for the South American markets. Yalla's mobile applications deliver a seamless experience that fosters a sense of loyalty and belonging, establishing highly devoted and engaged user communities through close attention to detail and localized appeal that profoundly resonates with users.
For more information, please visit: https://ir.yalla.com.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Statements that are not historical facts, including statements about Yalla Group Limited's beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Yalla Group Limited's filings with the SEC. All information provided in this press release is as of the date of this press release, and Yalla Group Limited does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Yalla Group Limited
Investor Relations
Kerry Gao - IR Director
Tel: +86-571-8980-7962
Email: [email protected]
Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: [email protected]
Net loss attributable to non-controlling interests
269,782
575,459
2,434,355
981,717
3,009,814
Net income attributable to Yalla Group
Limited's shareholders
36,772,212
28,935,484
31,763,268
73,863,612
60,698,752
Earnings per ordinary share
——Basic
0.24
0.19
0.21
0.47
0.40
——Diluted
0.20
0.16
0.18
0.41
0.34
Weighted average number of shares
outstanding used in computing earnings per
ordinary share
——Basic
155,958,658
152,975,006
150,945,883
157,604,992
151,954,839
——Diluted
180,765,359
177,171,652
175,048,711
181,508,856
176,104,576
Share-based compensation was allocated in cost of revenues, selling and marketing expenses, general and administrative expenses and
technology and product development expenses as follows:
Three Months Ended
Six Months Ended
June 30,
2025
March 31,
2026
June 30,
2026
June 30,
2025
June 30,
2026
US$
US$
US$
US$
US$
Cost of revenues
1,328,152
2,150,971
2,391,819
2,654,237
4,542,790
Selling and marketing expenses
170,304
440,566
425,808
341,332
866,374
General and administrative expenses
1,328,931
2,161,700
2,097,097
2,459,438
4,258,797
Technology and product development expenses
20,670
146,087
182,472
140,144
328,559
Total share-based compensation expenses
2,848,057
4,899,324
5,097,196
5,595,151
9,996,520
YALLA GROUP LIMITED
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
Three Months Ended
Six Months Ended
June 30,
2025
March 31,
2026
June 30,
2026
June 30,
2025
June 30,
2026
US$
US$
US$
US$
US$
Operating income
30,617,375
23,461,412
19,406,865
61,827,006
42,868,277
Share-based compensation expenses
2,848,057
4,899,324
5,097,196
5,595,151
9,996,520
Non-GAAP operating income
33,465,432
28,360,736
24,504,061
67,422,157
52,864,797
Net income
36,502,430
28,360,025
29,328,913
72,881,895
57,688,938
Share-based compensation expenses,
net of tax effect of nil
2,848,057
4,899,324
5,097,196
5,595,151
9,996,520
Non-GAAP net income
39,350,487
33,259,349
34,426,109
78,477,046
67,685,458
Net income attributable to Yalla Group
Limited's shareholders
36,772,212
28,935,484
31,763,268
73,863,612
60,698,752
Share-based compensation expenses, net of
tax effect of nil
2,848,057
4,899,324
5,097,196
5,595,151
9,996,520
Non-GAAP net income attributable to
Yalla Group Limited's shareholders
39,620,269
33,834,808
36,860,464
79,458,763
70,695,272
Non-GAAP earnings per ordinary share
——Basic
0.25
0.22
0.24
0.50
0.47
——Diluted
0.22
0.19
0.21
0.44
0.40
Weighted average number of shares
outstanding used in computing earnings
per ordinary share
Stacks oznámil, že za 24 dní spustí Genesis Bond, nový self-custodial mechanismus pro výnos z bitcoinů pro institucionální investory. Výnos poběží přes jeho systém Proof of Transfer, který už rozdělil více než 4 200 BTC.
Stacks, a Bitcoin Layer-2 project, announced the launch of its Genesis Bond, a self-custodial Bitcoin yield mechanism, set to go live in 24 days. This new product aims to offer institutional investors a way to earn yield on Bitcoin while maintaining custody of their assets on Bitcoin Layer 1. The yield is generated through Stacks’ existing Proof of Transfer system, which has already distributed over 4,200 BTC to stakers since its inception. The announcement highlights a growing institutional interest in Bitcoin staking applications, potentially marking a significant development in the cryptocurrency’s use case for institutional stakeholders.
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Key Takeaways Markets appear to interpret the Genesis Bond launch as a positive development for Bitcoin, suggesting increased institutional interest. The self-custodial feature of the Genesis Bond indicates a focus on security and control for Bitcoin holders. The new product could indicate a broader acceptance of Bitcoin-denominated yield mechanisms within institutional finance. What to Watch Observers should monitor the impact of this launch on Bitcoin’s price, particularly if institutional participation materializes as expected. Key indicators include potential announcements from major financial institutions regarding their involvement with the Genesis Bond. Additionally, any regulatory responses from entities like the SEC or Commodity Futures Trading Commission could influence market sentiment and the broader acceptance of Bitcoin yield products.
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Term Structure
Contract Odds Δ since publish Volume 24h August 17 2026 99.9% — — View market → August 17 2026 99.9% — — View market → August 17 2026 99.9% — — View market → August 17 2026 99.9% — — View market → August 17 2026 0.1% — — View market → August 17 2026 0.1% — — View market → August 17 2026 13% — — View market → August 17 2026 99.9% — — View market → August 17 2026 0.1% — — View market →
Ameren Illinois umístila dluhopisy za 400 milionů USD se splatností v roce 2036 a kupónem 5,50 %. Čistý výtěžek použije na splacení části krátkodobého dluhu.
, /PRNewswire/ -- Ameren Illinois Company, a subsidiary of Ameren Corporation (NYSE: AEE), announced today the pricing of a public offering of $400 million aggregate principal amount of 5.50% first mortgage bonds due 2036 at 99.988% of their principal amount. The transaction is expected to close on August 24, 2026, subject to the satisfaction of customary closing conditions.
Ameren Illinois intends to use the net proceeds of the offering to repay a portion of its short-term debt.
Goldman Sachs & Co. LLC, KeyBanc Capital Markets Inc., SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC are acting as joint book-running managers for the offering.
The offering is being made only by means of a prospectus and related prospectus supplement. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. Copies of the prospectus and related prospectus supplement for the offering, when available, may be obtained via the Securities and Exchange Commission's website at www.sec.gov or by contacting TD Securities (USA) LLC, 1 Vanderbilt Avenue, 11th Floor, New York, New York 10017, Attn: DCM – Transaction Advisory, phone: 1-855-495-9846. This press release does not constitute an offer to sell or a solicitation of an offer to buy the first mortgage bonds and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful.
About Ameren Illinois
Ameren Illinois delivers energy to 1.2 million electric and more than 800,000 natural gas customers throughout central and southern Illinois. Our service territory covers more than 1,200 communities and 43,700 square miles and our mission is to power the quality of life.
Milestone delivery underscores more than a decade of customer confidence in the proven light jet platform as company progresses toward the future of flight with the Cessna Citation CJ4 Gen3
WICHITA, Kan.--(BUSINESS WIRE)--Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company, today announced the 500th delivery of a Cessna Citation CJ4 series business jet, underscoring more than a decade of customer confidence in the company’s largest light jet and setting the stage for the next chapter of the aircraft with the upcoming Cessna Citation CJ4 Gen3. The milestone aircraft, a Citation CJ4 Gen2, was delivered to a customer based in the Philippines, reflecting the platform’s global reach.
The delivery milestone reflects the CJ4’s position as a trusted light jet for customers who need a balance of performance, efficiency and mission flexibility. The aircraft is valued by owner-operators and fleet customers around the world for its versatility across a wide range of missions, from business travel to special mission operations.
“The Citation CJ4 has set the standard in its class for more than a decade, and with the Citation CJ4 Gen2 and the upcoming Citation CJ4 Gen3, we're continuing to invest in the innovation, technology and capabilities our customers value most,” said Lannie O’Bannion, senior vice president, Sales & Marketing. “As we look to the future, our focus remains on delivering the performance, efficiency and confidence operators need to succeed in an evolving aviation landscape. Reaching 500 deliveries is a meaningful milestone that reflects the strength of the CJ4 platform and the trust customers around the world place in Textron Aviation.”
The Cessna Citation CJ4 Gen3 is expected to achieve Federal Aviation Administration certification this year. The aircraft’s flight test program has completed more than 880 flight test hours across two test articles thus far.
About the Cessna Citation CJ4 Gen3
The Cessna Citation CJ4 Gen3 is the largest Citation aircraft in the light jet segment. Designed with customer feedback in mind, the Citation CJ4 Gen3 introduces Garmin G3000 PRIME avionics to support a more intuitive flight deck experience, and the aircraft also offers pilot and passenger peace of mind with Garmin Emergency Autoland. The CJ4 Gen3 brings a new level of expectations to the light jet segment with the most standard features in its class. The single-pilot certified aircraft combines superior speed, range and operating economics compared to larger aircraft, making it the ideal platform for owner/operators or corporate missions. The CJ4 is valued by customers around the world for luxury and productivity, as well as a wide range of missions including air ambulance, maritime patrol, search and rescue and aerial survey.
The Citation CJ4 Gen3 is expected to feature a maximum range of 2,165 nm and a maximum payload of 2,200 pounds. With seating for up to 11 occupants and a 1,040-pound baggage capacity, the aircraft offers superior performance and versatility. For more information, visit: cessna.txtav.com/cj4-gen3.
About Textron Aviation Inc.
We have been inspiring the journey of flight for nearly 100 years. Textron Aviation Inc., a Textron Inc. company, has empowered our collective talent across the Beechcraft, Cessna, Hawker and Pipistrel brands to design and deliver the best aviation experience for our customers. With a range that includes everything from business jets, turboprops, light and high-performance pistons, to special mission, military trainer and defense aircraft, Textron Aviation has the most versatile and comprehensive aviation product portfolio in the world and a workforce that has produced more than half of all general aviation aircraft worldwide. Customers in more than 170 countries rely on our legendary performance, reliability and versatility, along with our trusted global customer service network, for affordable, productive and flexible flight. For more information, visit www.txtav.com.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Pipistrel, Jacobsen, Kautex, Lycoming, E-Z-GO, and Textron Systems. For more information, visit: www.textron.com.
Certain statements in this press release may project revenues or describe strategies, goals, outlook or other non-historical matters; these forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update them. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; demand softness or volatility in the markets in which we do business; changes in government regulations or policies on the export and import of commercial products; risks related to our international business, including relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business; and performance issues with key suppliers or subcontractors.
Dillard’s ve 2Q vykázal zisk 6,25 USD na akcii, což výrazně překonalo odhad 4,04 USD, a čistý zisk vzrostl na 97,7 mil. USD. Lenovo v 1Q zvýšilo tržby o 43 % na rekordních 26,94 mld. USD a upravený čistý zisk o 176 % na 1,07 mld. USD.
Last week’s earnings slate produced two distinctly different standout winners. Dillard’s (DDS - Free Report) ) showed that disciplined merchandising and a cash-heavy balance sheet can still create upside in department-store retail, while Lenovo Group (LNVGY - Free Report) ) demonstrated that its artificial intelligence strategy is expanding well beyond PCs and producing meaningful profit growth.
That said, here’s a look at why investors may want to consider Dillard’s and Lenovo stock after crushing earnings expectations last Thursday.
Dillard’s Q2: Resilient Demand Meets Better MarginsDillard’s delivered fiscal second-quarter earnings of $6.25 per share, crushing consensus EPS estimates of $4.04 by nearly 55% and rising 34% year over year. Net income climbed to $97.7 million from $72.8 million.
Although net sales slipped 0.4% YoY to $1.5 billion and missed consensus by 0.76%, retail sales excluding its construction operation advanced 1%, as did comparable-store sales. Comps also edged past analysts’ 0.9% forecast.
Despite the sales miss, It’s noteworthy that Dillard’s has now exceeded earnings expectations for eight consecutive quarters, with a very impressive average EPS surprise of 35.82% in its last four quarterly reports
Image Source: Zacks Investment Research
The earnings quality for Q2 does require some context. A $37.2 million tariff refund contributed $1.82 per share and lifted retail gross margin by 260 basis points. Even after subtracting that benefit, Dillard's Q2 EPS was approximately $4.43—still well above the $4.04 consensus.
Reported retail gross margin expanded to 40.9% from 38.1%, while sales were particularly healthy in ladies’ accessories and lingerie, home and furniture. Dillard’s does not anticipate additional significant tariff refunds, making underlying merchandising margins more important in coming quarters.
Management didn't issue formal sales or EPS guidance, but maintained its fiscal 2026 assumptions for depreciation and amortization of $175 million, rentals of $18 million, net interest and debt income of $9 million, and capital expenditures (CapEx) of $120 million. That CapEx target is up from $93 million last year, signaling continued reinvestment despite an uneven consumer backdrop.
Dillard’s balance sheet remains the chief attraction, ending Q2 with roughly $1.26 billion in cash and short-term investments after repaying $96 million of debt. Its current ratio stands at 3.03, indicating Dillard’s has more than twice the amount of assets to liabilities.
Image Source: Zacks Investment Research
Plus, Dillard’s return on equity (ROE) is nearly 32%, and shares trade at a very reasonable 16X forward earnings multiple, with FY26 EPS now expected to rise 6% to $35.26. Investors should nevertheless monitor the 5% inventory increase and a 70-basis-point rise in operating expenses as a percentage of sales during Q2.
Image Source: Zacks Investment Research
Lenovo’s Q1 Results Highlight AI Infrastructure as a Key Profit EngineLenovo’s results for its fiscal first quarter were even more emphatic. The PC giant posted Q1 earnings of $1.78 per share, crushing the 65-cent EPS consensus by nearly 174%, and soaring from $0.73 a year ago.
This came as revenue surged 43% YoY to a record $26.94 billion, topping expectations of $23.27 billion by almost 16%. Adjusted net income soared 176% to $1.07 billion. A $1.69 billion noncash loss from warrant revaluation resulted in a reported net loss of $609 million, so the adjusted figures provide a clearer view of operating performance.
Image Source: Zacks Investment Research
Furthermore, AI-related revenue jumped 60% to $9.3 billion, representing 35% of total sales, while gross margin expanded 180 basis points to 16.5%.
Lenovo’s Intelligent Devices Group generated $17.1 billion in revenue, up 27% YoY, and preserved a 7.1% operating margin. More importantly, Infrastructure Solutions revenue nearly doubled to $8.5 billion, producing a record operating profit of $777 million and a 9.1% margin. Most astonishing, Lenovo’s AI-server pipeline reached $54 billion, up 157% sequentially. Solutions and Services added another $2.9 billion in sales, with a record 24.2% operating margin and triple-digit gains in AI-services revenue.
The company’s outlook provides a potent catalyst. Lenovo now expects to reach $100 billion in annual revenue during its current FY27, pulling that milestone forward from its prior two-year timetable.
Image Source: Zacks Investment Research
Management cited infrastructure demand, device pricing discipline, and expanding services as key supports. The $54 billion server pipeline is not equivalent to firm backlog, but its scale still points to a substantial opportunity in AI computing.
Lenovo stock is no longer a deep-value name after its sharp year-to-date rally (+250 %), but LNVGY still trades at a reasonable 22X forward P/E multiple, and analysts now expect 26% EPS growth in FY27 followed by an 83% earnings surge in FY28, to $6.89 per share.
An improving business mix is particularly encouraging as high-margin services and profitable infrastructure are reducing Lenovo’s dependence on the more cyclical PC market.
Image Source: Zacks Investment Research
Bottom LineLenovo offers the faster EPS trajectory, AI exposure, and clearer revenue guidance, while Dillard’s provides a more defensive, cash-rich setup at a lower earnings multiple.
At the time of this writing, Lenovo stock currently sports a Zacks Rank #1 (Strong Buy), with Dillard’s landing a Zacks Rank #2 (Buy).
Kanadský dolar po červencové CPI, která vzrostla na 3,0 % meziročně a překonala odhad 2,9 %, krátce posílil na nejsilnější úroveň od 1. června. Zisky ale později odevzdal a USD/CAD se vrátil téměř beze změny.
The Canadian Dollar reached its strongest level since 1 June after July CPI beat forecasts, although the advance later faded. The Canadian Dollar initially strengthened on Monday after headline inflation reached the top of the Bank of Canada’s target range, but the advance was not sustained.
Immediately after the 13:30 BST release, the Canadian currency was 0.17% firmer and USD/CAD traded near 1.3851.
USD/CAD subsequently touched 1.3845, marking the Canadian Dollar’s strongest level since 1 June, before recovering towards 1.3874 much later in the session and returning close to unchanged on the day.
Later ERUK exchange rates data placed GBP/CAD near 1.8790 and EUR/CAD around 1.6064, both slightly higher on the day.
A simultaneous release showed foreign investors bought a net C$40.83bn of Canadian securities in June, led by federal government bonds.
The Statistics Canada CPI release showed prices rising 3.0% year on year in July, up from 2.8% in June and above the 2.9% consensus forecast.
On a non-seasonally-adjusted basis, the index climbed 0.5% on the month, compared with expectations of 0.4%, while the seasonally adjusted increase was 0.3%.
Gasoline inflation accelerated to 25.7% from 20.5% as renewed US-Iran tensions lifted energy costs, while air transportation prices rose 12.0%.
Food bought from stores provided some relief, slowing to 3.1% from 3.9%, and shelter inflation remained contained at 1.3%.
Core Inflation Leaves a Two-Sided BoC Signal The Bank of Canada’s preferred year-on-year measures remained close to 2%, with CPI-trim at 1.9% and CPI-median at 2.0%.
That steadier six- and 12-month picture led BMO Economics senior economist and director Robert Kavcic to conclude that “the inflation side is looking stable and well-behaved despite a bit of heat in July”.
Shorter-term measures were firmer, however.
BMO calculated that the average three-month annualised pace across four core gauges rose to 2.5% from 2.0%.
The faster gauges prompted Scotiabank economist Derek Holt to warn that “measures like these lean against staying at the low end of the BoC’s neutral rate range”.
Scotiabank reported that markets priced 16 basis points of a possible quarter-point increase by year-end, although the annual core readings offered little basis for an immediate policy response.
Growth supplied the more favourable side of the outlook, with Royal Bank of Canada assistant chief economist Nathan Janzen and economist Abbey Xu describing “a relatively favourable combination of firming economic growth and underlying inflation close to target”.
Trade risks nevertheless complicated that view.
The RBC economists noted that new US duties on selected Canadian goods were due to take effect on 19 August, although their narrow coverage was unlikely to derail the broader recovery.
Image: USD/CAD, GBP/CAD, EUR/CAD and CAD/JPY around Canada’s July CPI release at 13:30 BST. At the Bank of Canada’s 2 September decision, policymakers will weigh firmer short-term core momentum against stable year-on-year gauges and renewed trade uncertainty.
Reddit přestane od 3. čtvrtletí 2026 zveřejňovat metriky přihlášených a odhlášených uživatelů. Ve 2. čtvrtletí tržby vzrostly o 61,1 % na 804,9 mil. USD, ale akcie po výsledcích klesly.
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On The Investor’s Podcast (Ep 838), Daniel Mahncke and Shawn O’Malley discussed an alarming development at Reddit (NYSE:RDDT | RDDT Price Prediction) after its Q2 2026 earnings report. The company recently retired a user metric that appears to be deteriorating, and co-host Shawn O’Malley didn’t mince words about what this means for investors.
Reddit Is Eliminating a Metric Just as It Starts to Weaken On the July 30 earnings call, CFO Drew Vollero told investors that “Q2 will be the last quarter we report logged-in and logged-out user metrics. In Q3 2026 disclosures, we’ll continue to report total U.S. and international daily and weekly active users, but we’ll no longer report logged-in and logged-out daily active users.” Management framed the change as one that “reflects how we look at and run our business.”
O’Malley argued that Q2’s logged-in user growth of just 7% year over year was already troubling for a stock trading at roughly 40x earnings. He saw this development as a way to hide poor user engagement data: “Rather than speak candidly about the issue with investors, they opted to just hide it… right as this metric that I think is very important might be turning against them, they’re obfuscating things.”
Logged-In Users Are Worth 3x More for Reddit Only 9% of Reddit’s monthly active users log in daily, compared to 35% for TikTok and 50% for Instagram. Reddit itself has said logged-in users are worth roughly three times more than logged-out users.
Also, more than half of daily Reddit visitors arrive via Google Search rather than the app directly, a structural dependency the hosts flagged as vulnerable to AI overviews, which they estimated reduce click-through rates to original sources by roughly 60%.
Reddit’s CEO Steve Huffman acknowledged the search headwind on the call, saying “external search is volatile, particularly logged out web, but that’s not where our business lives.” He argued app users are worth “multiples more than the search referral traffic” and pointed to new app user retention improving 50% year-over-year on a relative basis as evidence the product work is compounding.
Blowout Revenue Growth Still Sent the Stock Tumbling Reddit’s Q2 was a financial standout on almost every line. Revenue landed at $804.9 million, up 61.1% year over year, with advertising revenue of $762 million (64% YoY growth) and EPS of $1.25 versus a $0.97 estimate. Adjusted EBITDA margin reached 42.6%, and global ARPU rose to $6.18, up 36% YoY.
The market’s reaction was harsh anyway. Shares fell from $180.90 at filing to $140.67 one day after, and RDDT is down 28.47% year to date, with the stock down 7.7% on Monday.
Reddit’s Clear Under-Monetization Keeps the Bull Case Alive The host made clear that the podcast is maintaining its current position because the bull case still looks appealing: “If you just look at the earnings numbers and the revenue growth, despite users not growing that fast, it shows you how under-monetized this platform actually is.”
Reddit’s U.S. ARPU of $11.85 still sits well below what larger social peers extract per user, leaving room for the monetization flywheel to run.
However, O’Malley believes slowing user growth hinders the thesis: “For a company trading at 40 times earnings, come on, you got to do better than 7% growth in logged-in users because ultimately that is what underpins their earnings power going forward.“
Key Takeaways Reddit’s financial results demonstrate how much more revenue the platform can extract from its existing audience, with advertising growth of 64% and global ARPU up 36%. The concern is whether monetization can continue outrunning sluggish growth among the logged-in users who underpin its long-term earnings power.
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