Track market-moving stories before they get noisy

ENDEAVOUR ANNOUNCES POSITIVE DFS RESULTS FOR THE ASSAFOU PROJECT THAT UNDERPINS THE NEXT PHASE OF ORGANIC GROWTH

HIGHLIGHTS:•Definitive Feasibility Study confirms Assafou's potential to become a cornerstone asset for Endeavour highlighting: > 320kozpa production at AISC of $1,026/oz over first 8 years. > 16-year mine life based on P&P reserves of 4.4Moz (77.4Mt at 1.76g/t); M&I resources of 5.0Moz (80.1Mt at 1.93g/t).  > Robust project economics with after-tax NPV(5%) of $2.1bn and 28% IRR at a gold price of $2,500/oz, increasing to $5.1bn and 55% at a gold price of $4,000/oz. > Upfront capital of $1,061m based on a scalable 5Mtpa design nameplate capacity gravity / CIL processing plant; increased upfront capital reflects changes to site infrastructure, plant optimisations to de-risk ramp-up and to enable seamless plant expansion in the future. •Significant exploration potential with over 20 highly prospective targets defined: > Assafou deposit (5.0Moz M&I resource) mineralisation is open along strike and at depth; Pala Trend 3 (0.2Moz maiden M&I resource) satellite located 1km away is mineralised from surface. > Assafou is the first discovery in a highly prospective and underexplored belt.•Early works launched including long-lead orders, detailed engineering and design, and key tenders.•Final investment decision targeted before end-2026, with subsequent 24 – 30 month construction.•Assafou underpins the Group’s sector-leading organic growth outlook to 1.5Moz, at first quartile AISC, by 2030. Abidjan, 23 April 2026 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour”, the “Group” or the “Company”) is pleased to announce the results of the Definitive Feasibility Study (“DFS”) for the Assafou-Dibibango (“Assafou”) project on the Tanda-Iguela property in Côte d’Ivoire.

Ian Cockerill, Chief Executive Officer, commented: “We are pleased with the results of the Assafou project DFS, which confirms the quality and scale of the asset that will underpin the next phase of Endeavour’s organic growth.

Assafou has the potential to become another cornerstone asset for Endeavour, adding 320koz of production per year at a first quartile AISC of $1,026/oz, over the first eight years of its 16-year mine life. It will be our lowest-cost and longest-life mine, further improving our portfolio quality while bolstering the resilience of the business.

The impressive project economics demonstrate our ability to rapidly generate value through the drill bit. Assafou was discovered for $13 million in 2022 and only four years later has a value of $5.1 billion at a $4,000/oz gold price. As we continue to de-risk the project and grow its resource base through exploration, we expect to unlock even more value.

Since its discovery, the Assafou M&I resource has grown 470%, to over 5 million ounces, and we are increasingly excited by more than 20 highly prospective satellite targets, in close proximity to the deposit.

Working closely with our supportive in-country stakeholders, we are advancing the project’s mining convention, and we are targeting a final investment decision before the end of the year. Simultaneously, we have launched early works, detailed engineering and design, key tenders and long-lead orders to expedite construction.

As we advance Assafou, we will remain disciplined and prioritise maximising free cash flow from every ounce of gold we produce, ensuring that we continue to deliver sector leading shareholder returns, while we organically grow production to 1.5 million ounces by 2030.”

Table 1: Assafou Project Highlights
  ASSAFOU DFSSTRATEGIC TARGETSP&P Reserve, Moz14.4>3.0Mine life, years16>10Average annual production, kozpaFirst 8 years320>200Life of mine257AISC, $/oz2First 8 years1,0261st quartileLife of mine1,062Post-tax NPV5%, $m22,059n.a.Post-tax IRR, %228>20¹Based on a $1,500/oz reserve price. ²Based on a gold price of $2,500/oz. The key operational and economic highlights of the Assafou DFS are summarised in Tables 2 and 3 below.

 Table 2: Assafou DFS SummaryOPERATION TYPE  Mine typeOpen PitPlant type5.0Mtpa Gravity / CIL PlantRESERVES & RESOURCES1 P&P reserves77.4Mt at 1.76g/t Au for 4.4MozM&I resources (inclusive of reserves)80.1Mt at 1.93g/t Au for 5.0MozInferred resources0.9Mt at 2.34g/t Au for 0.1MozLIFE OF MINE PRODUCTION Mine life, years16Strip ratio, W:O6.3Tonnes processed, Mt77.4Grade processed, Au g/t1.76Gold contained processed, Moz4.4Average recovery rate, %94Gold production, Moz4.1Average annual production, kozpa257Cash costs, $/oz2952AISC, $/oz21,062AVERAGE FOR YEARS 1 TO 8 Production, kozpa320Cash costs, $/oz887AISC, $/oz21,026CAPITAL COST Upfront capital cost, $m1,061ENVIRONMENTAL DATA GHG Emissions Intensity3, t CO2e/oz0.59Energy Intensity, GJ/oz7.39¹Based on a reserves gold price of $1,500/oz and a resource gold price of $1,900/oz. Reserves and Resources relates to the Assafou Project and are exclusive of Pala Trend 3 Resources. ²Based on a gold price of $2,500/oz. ³GHG Emissions Intensity considers only Scope 1 and 2 emissions. Table 3: Assafou DFS Project Economics  Gold Price $2,000/oz$2,500/oz$3,000/oz$4,000/ozPRE-TAX    NPV5%, $m1,6252,9094,2506,934IRR, %123344566Payback Period, yr14.143.012.431.81AFTER-TAX    NPV5%, $m1,0742,0593,0775,113IRR, %118283755Payback Period, yr14.973.522.731.95¹Payback period and IRR are calculated from the start of commercial production Endeavour expects to file a Technical Report pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“the NI 43-101”) in respect of the Assafou DFS within 45 days of this news release.

Overview

The 100% owned Tanda and Iguela exploration permits (“Tanda-Iguela”) are located in the eastern region of Côte d’Ivoire, approximately 280km northeast of Abidjan, adjacent to the Ghana border. The northern permit, Tanda, was added to Endeavour’s portfolio in November 2015 following the combination of La Mancha’s Ivorian assets with Endeavour. Endeavour conducted an initial drilling campaign during 2016 that yielded positive results and quickly identified the southern permit, Iguela, as having a high degree of geological prospectivity. The Iguela permit was awarded to Endeavour in May 2017, through Côte d’Ivoire’s permit application process.

Figure 1: Tanda-Iguela Regional Map

Refer to Figure 1 within the appended News Release.

A maiden Indicated resource of 1.1Moz (14.9Mt at 2.33 g/t Au) was published on 21 November 2022, based on 56,000 metres of drilling, and was subsequently increased to 4.5Moz (70.9Mt at 1.97 g/t Au) on 29 November 2023, based on an additional 123,000 metres of drilling. Further exploration and advanced grade control drilling at the Assafou deposit and exploration drilling at the Pala Trend 3 satellite deposit resulted in an increase in Measured and Indicated resources to 5.2Moz at 1.91g/t as of 31 December 2025. These resources are based on an additional 99,000 metres of drilling and include maiden Measured resources, reflecting increased resource confidence.

As shown in Figure 2 below, the DFS demonstrates Assafou’s potential to deliver 320kozpa at all-in sustaining cost (“AISC”) of $1,026/oz over the first eight years of operations, with average production of 257kozpa and AISC of $1,062/oz over the 16-year life of mine.

Figure 2: Assafou DFS Production and AISC Profile

Refer to Figure 2 within the appended News Release.

The DFS production profile is based on the Assafou deposits’ mineral reserves only, with an effective date of 31 December 2025. The DFS production profile excludes mineral resources outside of reserves and excludes the maiden Measured and Indicated mineral resource of 4.7Mt at 1.55g/t for 0.2Moz at the Pala Trend 3 satellite deposit, that was defined following successful exploration drilling during 2025. Furthermore, nearly 70,000 metres of exploration drilling has been completed at nearby satellite deposits, which is expected to contribute to further resource and reserve increases supporting higher levels of production, particularly in years 12 to 16 of the production profile.

Reserves and Resources

The Assafou Project’s 31 December 2025 reserve and resource estimate is shown in Table 4 below. The resource estimate is based on a gold price of $1,900/oz and the reserve estimate is based on a conservative gold price of $1,500/oz.

Table 4: Assafou Project Reserves and Resources  TonnageGradeContentOn a 100% basis (Mt)(Au g/t)(Au koz)Assafou Deposit (DFS)    Proven Reserves 21.51.871,295Probable Reserves 55.91.723,085P&P Reserves 77.41.764,379Measured Resource (incl. reserves) 20.82.051,367Indicated Resources (incl. reserves) 59.41.893,606M&I Resources 80.11.934,972Inferred Resources 0.92.3469Pala Trend 3    Proven Reserves ---Probable Reserves ---P&P Reserves ---Measured Resource (incl. reserves) ---Indicated Resources (incl. reserves) 4.71.55231M&I Resources 4.71.55231Inferred Resources 1.01.6853Total Assafou Project    Proven Reserves 21.51.871,295Probable Reserves 55.91.723,085P&P Reserves 77.41.764,379Measured Resource (incl. reserves) 20.82.051,367Indicated Resources (incl. reserves) 64.01.863,837M&I Resources 84.81.915,203Inferred Resources 1.92.00122 1Mineral Resource Estimate effective 31 December 2025. Mineral Reserve Estimate effective 31 December 2025. Mineral Resource and Reserve Estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definitions Standards for Mineral Resources and Reserves and have been completed in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101. Reported tonnage and grade figures have been rounded from raw estimates to reflect the relative accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Mineral Resources that are not Mineral reserves do not have demonstrated economic viability. Resources were constrained by MII Pit Shell based on a cut-off grade of 0.40g/t at a $1,900/oz gold price. Reserves are based on a cut-off grade of 0.40g/t for oxide, laterite and transitional ore and 0.50g/t for fresh ore and $1,500/oz gold price. Endeavour is not aware of any legal, political, environmental or other risks that could materially affect the potential development of the mineral resources and mineral reserves other than as noted herein.

For technical notes and drilling results from the Assafou drill programme, please see the Technical Notes section below.

Mining Operations

The Assafou deposit mineralisation extends from surface to depths in excess of 300 metres and is amenable to conventional open-pit, drill and blast, mining. The mine planning, resource and cost estimation for the DFS is based on a contract mining operation with a maximum mining capacity of 53.0 Mt per year, that is expected to be achieved 5 months after the commencement of mining. Mining capacity is expected to exceed processing capacity in order to accumulate stockpiles to allow high grade material to be preferentially processed early in the mine plan.

During the pre-commercial production period approximately 49.3 Mt of pre-stripping is expected to support an accelerated production ramp up. The projects and operations teams will review opportunities to reduce the impact of pre-stripping at the Assafou deposit through supplementing the ore feed with near-surface ore from the Pala Trend 3 deposit, located 1km southwest of the Assafou deposit, as well as additional satellite deposits in close proximity to the Assafou deposit.

Ore mining is expected to occur in 15-metre benches and 6.0 x 2.5-metre flitches in fresh rock, while waste is expected to be mined in 5-metre flitches. Smaller excavators will be used for ore loading to decrease dilution.

Diesel excavators and dump trucks will be used for loading and haulage, with a contractor fleet expected to comprise of 300-tonne class face excavators for waste mining, and 150-tonne class excavators for ore mining.

Processing Operations

Ore will be processed via a 5.0 Mtpa gravity / carbon-in-leach (“CIL”) processing plant. Over the life of mine, the plant will be fed with approximately 88% fresh ore and 12% oxide and transitional ore.

The comminution circuit is expected to comprise of two-stage crushing followed by a high-pressure grinding roll and a ball milling circuit. A primary gyratory crusher will crush ore to a coarse crush size, followed by dual secondary cone crushers. A live primary crushed ore stockpile will provide a buffer storage of primary crushed ore, with reclaim to feed the secondary crushing unit. Ore will then be fed through the high-pressure grinding roll circuit that feeds the ball mill. In the event that the secondary crushers or the high-pressure grinding roll circuits are offline, a fines stockpile located after the high-pressure grinding roll circuit will ensure there is feed available for the ball mill. The ball mill will mill the ore to 80% passing 106µm (microns).

The milled ore will pass through a gravity circuit comprising two Knelson concentrators for separation and recovery of coarse free gold, to produce a gravity concentrate for cyanidation and electrowinning that can be smelted to produce gold doré. High gravity recovery of approximately 70% is estimated.

Coarse feed is returned to the ball mill while screened cyclone overflow is passed via the leach feed thickener to a CIL circuit containing one pre-leach tank and six CIL tanks, in series, for leaching and absorption. Leach residence time will be approximately 36 hours. Following leaching and absorption, gold will be recovered from activated carbon by elution, electrowinning, and gold smelting to produce gold doré.

Extensive multiphase metallurgical test work has demonstrated that ore from the Assafou deposit contains free-milling gold, with a high proportion of gravity recoverable gold, that is amenable to cyanidation. The majority of the remaining gold has a high leach extraction potential resulting in an overall gold recovery rate of 94% over the life of mine.

Operating Cost Summary

Mining operating costs, which are based on Q3-2025 estimates, were prepared by Endeavour, are based on a contractor mining model. Process operating cost estimates were prepared by Lycopodium Minerals Canada Ltd (Lycopodium), who have successfully supported Endeavour through five engineering and construction projects in West Africa over the last twelve years. General and Administration (“G&A”) cost estimates were also prepared by Endeavour, as summarised in the table below.

Table 5: Assafou Project Life of Mine Operating Unit Costs (-10/+15%)  UNIT COSTS (US$)Open Pit Mining and Rehandling$4.11/t minedProcessing$14.38/t processedG&A$4.48/t processedBased on Q3-2025 estimates that exclude escalation. Operating costs have been based on a delivered diesel price of $1.13 per litre and are in line with current local pricing and, therefore do not reflect any potential pricing impact from current hostilities in the Middle East. Power will be sourced from the grid supplying 90kV to site via a ring main system providing power from two different parts of the power grid to increase reliability with an assumed grid availability of 90% and power costs estimated at $0.13/kWh.

Capital Cost and Infrastructure Summary

The project upfront capital cost, which is based on Q3-2025 estimates, was compiled by Lycopodium with input from Knight Piésold Pty Ltd (Knight Piésold) on the tailings storage facility (“TSF”), water infrastructure, site access roads and airstrip, SRK Consulting (UK) Ltd (SRK) for mining cost models and contractor rates, Digby Wells Environmental Holding Ltd (Digby Wells) for RAP costs, compensation and closure costs, Cabinet Enval SARL (ENVAL) for environmental assessments, and from ECG Engineering Pty Ltd (ECG Engineering) on the power infrastructure. Endeavour has provided project specific estimates for mine establishment, facilities, power and owner’s costs.

The initial capital cost is summarized in the table below.

Table 6: Assafou Project Upfront Capital Cost Estimate Summary (-10/+15%)
 CAPITAL COSTS (US$M)Pre-production Mining111.4Processing Plant Costs155.8Reagents and Plant Services30.9Site Infrastructure250.2Contractor Distributables65.4Owner Project and Operations Costs215.7Management Costs50.7Subtotal880.1Pre-production Working Capital76.3Contingency85.4Taxes and Duties18.8Total Upfront Capital Cost1060.6Based on Q3-2025 estimates that exclude escalation.
The Assafou project capital cost estimate assumes a contractor mining model, selected due to the additional fleet flexibility that can accommodate the pre-production mining ramp-up and the potential incorporation of satellite deposits into the mine plan.

The Assafou project benefits from good surrounding infrastructure, including access to the 90kV ring main power supply, which will be diverted via a new 12km transmission line, and access to the A1 national road, which will be diverted via an assumed 55km extension around the operation. In addition, backup power comprised of 28 containerised diesel generators with prime output of 28.0MW has been included in the upfront capital costs. Furthermore, land provision within the existing mine perimeter for a potential 31.5MW solar power plant has been provided. The airstrip will be built 10km from the site’s permanent accommodation. Resettlement of two villages, within close proximity to the project, is required and is included in the upfront capital cost estimate. The tailings storage facility (“TSF”) is expected to be a High-Density Polyethylene (“HDPE“) lined cross-valley storage facility, utilising the natural topography of the project area, that will be formed by multi-zoned earth fill embankments, with a total footprint area (including the basin area) of approximately 239ha for the stage 1 TSF to 265ha for the final TSF. TSF construction will benefit from the high availability of fresh waste rock from the mining pre-stripping activities. The TSF is designed to a life-of-mine capacity accommodating a total of 72.0Mt of tailings. The Stage 1 TSF is designed for 7.5Mt, approximately 18 months storage capacity, and subsequently, downstream raise construction will be used to progressively increase capacity.

Estimated resettlement disbursements and related costs are included in the Owner Project and Operations Costs. These estimates are based on a combination of legislated compensation mechanisms and historic precedents of similar costs. Final costs are subject to negotiation and agreement between various stakeholders, including the State of Côte d’Ivoire and local communities.

Figure 3 below highlights the proposed site and infrastructure layout.

Figure 3: Assafou Project Schematic Site Layout

Refer to Figure 3 within the appended News Release.

Ownership, Permitting, Taxes and Royalties

Endeavour acquired the Tanda exploration permit in 2015, subsequently acquiring the Iguela exploration permit, which contains the Assafou project, in 2017. The exploitation permit for the Assafou project was granted in February 2026. Once the new project company is fully incorporated with the State of Côte d’Ivoire as a shareholder in accordance with Ivorian law, the exploitation permit will be transferred to that company. The current Mining Code envisages a State free carried interest of 10%.

A corporate tax rate of 25% of gross profit, a royalty rate of 8.0% above a gold price of $2,000/oz and a local development fund contribution of 0.5% of gold sales were applied in the DFS. Gold royalties in Côte d’Ivoire are based on a sliding scale with the gold price and vary between 5.0% and 8.0%. A transport and refining charge of $4/oz Au was also applied.

The Mining Code in Côte d’Ivoire is currently under review, and if the proposed new Mining Code, is passed into law before the Assafou mining convention is granted, then the level of State participation and the fiscal terms applicable to the Assafou project may reflect those of the new Mining Code.

Timetable, Early Works and Project Construction

A 24 to 30 month construction period is projected following the final investment decision, which is targeted before the end of 2026. The final investment decision and the construction period do not reflect any potential impact from current hostilities in the Middle East.

As shown below in Figure 4, commencement of procurement for long-lead items, detailed engineering and design, and the EPCM, power and earthworks tenders are already underway.

Figure 4: Assafou Project Early Works

Refer to Figure 4 within the appended News Release.

For FY-2026, growth capital guidance of between $50 – 100 million is expected to be incurred prior to the approval of the final investment decision. The remaining $961 – 1,011 million of the $1,061 million upfront capital is expected to be incurred after the final investment decision.

Following the final investment decision, construction is expected to start, initially prioritising the resettlement, which is on the critical path, and the site infrastructure and earth works. Subsequently tailings and water dam construction, then power supply and process plant construction will commence.

The critical path includes the resettlement, mining pre-stripping and process ore commissioning. The resettlement is required to commence mining pre-stripping. Mining pre-stripping is expected to start approximately five quarters after the final investment decision, in order to provide access to thick, high-grade zones of the ore body early, and support a short processing plant and production ramp-up.

Figure 5: Assafou Project Construction

Refer to Figure 5 within the appended News Release.

Next steps

Q2-2026: Procurement of long-lead items has been launched.Q2-2026: Detailed engineering and design is underway.Q2-2026: EPCM, power and earthworks tender reviews are advancing towards finalisation.Q2-2026: Development of the relocation action plan is underway to support the resettlement.Q3-2026: Expected completion of mining convention negotiations.End-2026: Final investment decision is targeted before the end of 2026. 2026 DFS vs 2024 PFS

The key changes between the Assafou PFS news release published on 11 December 2024 and the Assafou DFS news release published on 23 April 2026 are highlighted in table 7 below. These include the increase in resource and reserve endowment following successful exploration, the increase in processing unit costs reflecting current costs assumptions across the portfolio, and the increase in upfront capital resulting from scope changes to infrastructure as well as plant optimisations, scalability and ramp-up de-risking.

Table 7: Assafou Project DFS vs PFS Highlights
 DFSPFSDFS VS PFSPLANT TYPE, SIZE & CAPEX   Plant typeGravity / CILGravity / CIL Mill capacity, Mtpa5.05.0−RESERVES & RESOURCES4   P&P Reserves, koz4,3794,115+6%M&I Resources, koz4,9724,604+8%Inferred Resources, koz69208(67)%LIFE OF MINE PRODUCTION   Mine life, years1615+7%Strip ratio, W:O6.35.9+7%Tonnes processed, Mt77.472.8+6%Grade processed, Au g/t1.761.76−Gold contained processed, Moz4.44.1+6%Average recovery rate, %9494−Gold production, Moz4.13.9+5%CAPITAL AND OPERATING COSTS   Upfront capital cost, $m1,061734+45%Open Pit Mining & Rehandling, $/t mined4.114.08+1%Processing, $/t processed14.3812.25+17%G&A, $/t processed4.484.10+9%AVERAGE FOR YEARS 1 TO 8   Average annual production, kozpa320327(2)%Cash costs, $/oz1887854+4%AISC, $/oz11,026949+8%ENVIRONMENTAL DATA   GHG Emissions Intensity2, t CO2e/oz0.590.55+7%Energy Intensity, GJ/oz7.397.23+2%ECONOMICS (BASED ON $2,500/oz)   Pre-Tax Returns    NPV5%, $m2,9093,408(15)%IRR, %3448(29)%Payback, years33.02.425%After-Tax Returns    NPV5%, $m2,0592,485(17)%IRR, %2840(30)%Payback, years33.52.730%¹ AISC and cash costs based on a gold price of $2,500/oz. Sliding scale royalty rates from $2,000/oz have increased from 6% per the PFS to 8% in the DFS. ²GHG Emissions Intensity calculated as Scope 1 and 2 emissions. ³ Payback period calculated starting from start of commercial production. ⁴ Based on a reserves gold price of $1,500/oz and a resource gold price of $1,900/oz. Reserves and Resources relates to the Assafou Project and are exclusive of Pala Trend 3 Resources. Table 8 demonstrates a significant uplift in resource and reserve size and confidence within the Assafou deposit. P&P reserves at the Assafou deposit increased by 6% while M&I resources increased by 8%, following 99,000 metres of additional drilling both within, and outside of, the Assafou pit shell, subsequent to the completion of the PFS.

This additional drilling also supported improved reserve and resource confidence, which is reflected by the addition of maiden Proven reserves of 21.5Mt at 1.87g/t for 1.3Moz alongside maiden Measured resources of 20.8Mt at 2.05g/t for 1.4Moz, which cover 40% of the first five years of the mine plan. This improvement is underpinned by closer spaced drilling at 20 x 25 metre spacing, compared to previous drilling at 33 x 40 metre spacing and 100 x 80 metre spacing that supported the PFS and the maiden resources respectively. The increased reserve and resource confidence supports de-risking of the ramp up and the first five years of the mine plan.

Table 8: Assafou Project Mineral Reserves and Resources1
 31 December 20252 31 December 20243 VARIANCEOn a 100% basis. M&I Resources shown inclusive of Reserves. TonnageGradeContent TonnageGradeContent Au Content(Mt)(Au g/t)(Au koz) (Mt)(Au g/t)(Au koz) (Au koz)Proven Reserves21.51.871,295 --- +1,295Probable Reserves55.91.723,085 72.81.764,115 -1,030P&P Reserves 77.41.764,379 72.81.764,115 +264Measured Resource (incl. reserves)20.82.051,367 --- +1,367Indicated Resources (incl. reserves)59.41.893,606 73.61.954,604 -998M&I Resources (incl. reserves)80.11.934,972 73.61.954,604 +368Inferred Resources0.92.3469 3.31.97208 -139¹Excludes maiden Mineral resource Estimate for the Pala Trend 3 deposit, which is excluded from the DFS mine plan. ²Mineral resource Estimate effective 31 December 2025. Mineral Reserve Estimate effective 31 December 2025. Mineral Resource and Reserve Estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definitions Standards for Mineral Resources and Reserves and have been completed in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101. Reported tonnage and grade figures have been rounded from raw estimates to reflect the relative accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Mineral resources that are not Mineral Reserves do not have demonstrated economic viability. Resources were constrained by MII Pit Shell based on a cut-off grade of 0.40g/t at a $1,900/oz gold price. Reserves are based on a cut-off grade of 0.40g/t for oxide, laterite and transitional ore and 0.50g/t for fresh ore and $1,500/oz gold price. ³Mineral resource estimate effective 31 December 2024. Mineral reserve estimate effective 31 December 2024. Mineral resource and reserve estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definitions Standards for Mineral Resources and Reserves and have been completed in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101. Reported tonnage and grade figures have been rounded from raw estimates to reflect the relative accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Mineral Resources that are not mineral reserves do not have demonstrated economic viability. Resources were constrained by MII Pit Shell based on a cut-off grade of 0.5g/t at a $1,900/oz gold price. Reserves are based on a cut-off grade of 0.40g/t for oxide ore and 0.50g/t for fresh ore and $1,500/oz gold price. Endeavour is not aware of any legal, political, environmental or other risks that could materially affect the potential development of the mineral resources and mineral reserves other than as noted herein. The updated mineral resource estimate for the Assafou deposit, based on a gold price of $1,900/oz is robust, given its high-grade, thickness and continuity, as demonstrated by the sensitivity analysis presented in Table 9.

Table 9: Assafou Deposit Mineral Resource Estimate Sensitivity1       
 TonnageGradeContentMeasured Resource(Mt)(Au g/t)(Au koz)Based on a gold price of $1500/oz20.22.051,334Based on a gold price of $1900/oz20.82.051,367Based on a gold price of $2000/oz20.82.051,370Based on a gold price of $2100/oz20.92.041,372Based on a gold price of $2500/oz20.92.041,375Based on a gold price of $3000/oz21.02.041,382Indicated Resource   Based on a gold price of $1500/oz54.01.923,328Based on a gold price of $1900/oz59.41.893,606Based on a gold price of $2000/oz60.11.883,635Based on a gold price of $2100/oz60.31.883,645Based on a gold price of $2500/oz62.31.873,738Based on a gold price of $3000/oz63.31.863,777Inferred Resource   Based on a gold price of $1500/oz0.62.4646Based on a gold price of $1900/oz0.92.3469Based on a gold price of $2000/oz1.02.2872Based on a gold price of $2100/oz1.02.2574Based on a gold price of $2500/oz1.42.2097Based on a gold price of $3000/oz1.72.14115 ¹Mineral resource estimate effective 31 December 2025. Mineral reserve estimate effective 31 December 2025. Mineral resource and reserve Estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definitions Standards for Mineral Resources and Reserves and have been completed in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101. Reported tonnage and grade figures have been rounded from raw estimates to reflect the relative accuracy of the estimate. Minor variations may occur during the addition of rounded numbers. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Resources were constrained by MII Pit Shell based on a cut-off grade of 0.40g/t at a $1,900/oz gold price. Reserves are based on a cut-off grade of 0.40g/t for oxide, laterite and transitional ore and 0.50g/t for fresh ore and $1,500/oz gold price.

As illustrated in the figure 6 below, Assafou’s mine life has been extended by approximately one year due to the increase in P&P reserves, while its average annual production and cost profile remain similar to the PFS.

Figure 6: Assafou Project DFS vs PFS Production Profile

Refer to Figure 6 within the appended News Release.

1AISC based on a gold price of $2,500/oz

The upfront capital cost for the project has increased from $734 million in the PFS to $1,061 million in the DFS. As shown in table 10 below, the increase in upfront capital is related to scope changes to infrastructure as well as plant optimisations, scalability and ramp-up de-risking.

Table 10: Assafou Project PFS - DFS Capital Cost Changes
Capital cost changesPFS vs DFSRationaleSite infrastructure: +$130.3m Improved backup power in the DFS incorporating containerised diesel generators with a more robust design comprised of 28 generators with prime output of 28.0MW.Increase in length of the national highway diversion from the original 22km in the PFS to an assumed 55km in the DFS.
Addition of a 10km 33kV power line connecting the Iguela, Assafo, Dibibango and Broukro villages to the grid following mine development.Addition of digital optimisations have been included in the upfront capital. Improved backup power is engineered and capable of supporting the full load requirements in the event that there are any outages or capacity constraints on the grid.The increased diversion length to the East of the Assafou project is fully aligned with the updated infrastructure layout and supports current Government and local community preferences. The additional power line ensures power supply is maintained to local villages and infrastructure following the relocation and mine development.Digitalisation opportunities are expected to drive life of mine operating costs savings and improved productivity. Owner project and operations costs: +$91.3m Owners costs have been increased to account for continued support from the in-house projects team following the completion of commissioning through to the completion of the processing plant ramp-up. Retaining the in-house projects team as well as key consultants and contractors on site and associated costs, following commissioning for the processing plant ramp up, helps de-risk the ramp up and the first year of production. Processing plant costs: +$49.5m Modifications in processing plant flow sheet based on learnings from Lafigué ramp-up, including optimising conveyors, increased crushed ore screens and replacement of the crushed ore stockpile, subsequent to the secondary crushing circuit with a stockpile after the -HPGR.Increase in secondary crusher capacity from two Metso 3.0mtpa capacity HP6 secondary crushers in the PFS to two Metso 5.0mtpa capacity HP900 secondary crushers in the DFS. Flow sheet optimisation is expected to improve processing plant performance and build in additional redundancy, minimising downtime. The addition of the stockpile after the HPGR allows milling activity to continue in the event the crushing or HPGR circuit is down for maintenance or repair.Larger secondary crushers provide capacity to increase throughput beyond processing plant nameplate and ensure that the processing plant can operate at nameplate capacity in the event that one of the secondary crushers is down for repair or maintenance. Pre-production mining and pre-production working capital: +$37.7m Optimisation of the mine plan following 99,000 metres of additional advanced grade control drilling.Mine plan optimisation also resulted in earlier mobilisation of the mining contractor and 35% increased pre-production waste stripping. Advanced grade control drilling covering the first 18 months of production to de-risk the operational ramp-up.Supports access to a higher-grade zone of the ore body earlier in the mine plan helping to de-risk the mining ramp up. Contractor distributables: +$20.5m Alignment of construction distributables to reflect changes to direct capital costs. Improves confidence in growth capital expenditure budget by updating earthwork, concrete, steel and other construction distributable rates. Management costs: -$2.8m Finalisation of EPCM management costs.Savings associated with sterilisation drilling. Finalisation of EPCM and owners cost scope.Completion of sterilisation drilling earlier than initially planned resulted in upfront capital savings. Geology

Mineralisation at the Assafou deposit is both hosted in quartz veins and disseminated within the Tarkwaian Sandstones. The deposit appears to be monometallic, with no potentially deleterious elements associated with the gold. Mineralisation starts at surface and extends to depths of more than 300 metres. It is continuous along strike, following a prominent northwest-trending structure that separates the Tarkwaian Sandstones from the mafic Birimian Basement rocks. The deposit comprises a thick main (up to 100 metres), flat-lying, continuous lens, overlain by a series of stacked lenses dipping at a low angle to the northeast.

High grade mineralisation and the thickest mineralised intercepts are located adjacent to the structural contact between the mafic Birimian Basement rocks and the Tarkwaian Sandstones along the northeast boundary of the Assafou deposit.

Assafou Exploration

The Assafou deposit was discovered in 2022 with the maiden Indicated resource of 14.9Mt at 2.33g/t containing 1.1Moz and an Inferred resource of 32.9Mt at 1.80g/t containing 1.9Moz defined on 31 October 2022, based on 56,000 metres of drilling.

Subsequently, an updated Indicated resource of 70.9Mt at 1.97g/t containing 4.5Moz and an Inferred resource of 2.9Mt at 1.91g/t containing 0.2Moz was defined on 14 November 2023, based on 123,000 metres of drilling.

In 2025, the mineral resource estimate was updated, with a Measured and Indicated resource of 84.8Mt at 1.91g/t for 5.2Moz and an Inferred resource of 1.9Mt at 1.95g/t containing 0.1Moz, based on 99,000 metres of drilling. This includes the maiden Mineral Resource estimate at Pala Trend 3.

Mineralisation at Assafou remains open along strike along the 20km long structural corridor extending from Koumenagaré in the northwest to Kongojdan in the southeast, as well as at depth where mineralisation has been identified below the current resource pit shell, and within the basement mafic Birimian volcanic rocks.

Figure 7 below highlights the additional drilling at the Assafou deposit that supports the increased reserve and resource size and confidence in the DFS. Infill and advanced grade control drilling on the Assafou deposit was completed during 2025 and reconfirmed the existing resource model, providing increased confidence in the initial phases of ore mining at the deposit. Resource definition drilling was completed at the Pala Trend 3 target located approximately 1 kilometre west of the Assafou deposit defining maiden resources.

Figure 7: Assafou Deposit Map
Refer to Figure 7 within appended News Release

Figure 8 below highlights that 2025 drilling has identified mineralisation towards the southeast of the Assafou deposit, below the existing pit shell. Mineralisation starts at surface within the Tarkwaian Sandstones but extends into the Birimian Basement at depth, where it remains open, with further drilling planned for 2026.

Figure 8: Assafou Cross Section A0600
Refer to Figure 8 within appended News Release

Figure 9 below highlights that 2025 drilling has identified high-grade mineralisation towards the southeast of the Assafou deposit, below the existing pit shell, at the basal contact of the Tarkwaian basin.

Figure 9: Assafou Cross Section A0833
Refer to Figure 9 within appended News Release

Figure 10 below highlights several thick, stacked lenses of high-grade mineralisation within the central portion of the Assafou deposit, with mineralisation extending below the resource pit shell and in some cases into the Birimian basement rocks.

Figure 10: Assafou Cross Section A1716
Refer to Figure 10 within appended News Release

Figure 11 below highlights thick continuous stacked lenses of deep-seated mineralisation in the centre of the Assafou deposit.

Figure 11: Assafou Cross Section A1766
Refer to Figure 11 within appended News Release

Figure 12 below highlights that drilling within the centre of the Assafou deposit has improved the confidence in several high-grade stacked lenses of mineralisation throughout the deposit and confirmed the continuation of mineralisation along the contact between the Birimian and the Tarkwaian rocks at depth.

Figure 12: Assafou Cross Section A1850
Refer to Figure 12 within appended News Release

Figure 13 below highlights that drilling within the centre of the Assafou deposit has identified several high-grade intercepts below and adjacent to the existing pit shell, with further drilling planned for 2026 to test the continuity of mineralisation at depth and towards the southwest within the sedimentary basin.

Figure 13: Assafou Cross Section A1866
Refer to Figure 13 within appended News Release

Figure 14 below highlights that drilling in 2025 towards the northwest of the Assafou deposit has confirmed the continuity of several high-grade stacked lenses of mineralisation and identified continuous mineralisation towards the southwest of the Assafou deposit and up to 100 metres below the existing Assafou pit shell.

Figure 14: Assafou Cross Section A2316
Refer to Figure 14 within appended News Release

Figure 15 below highlights that drilling towards the northwest of the Assafou deposit has confirmed several high-grade stacked lenses of mineralisation throughout the Assafou deposit. Mineralisation has also been identified up to 50 metres below the Assafou resource pit shell.

Figure 15: Assafou Cross Section A2416
Refer to Figure 15 within appended News Release

Figure 16 below highlights that drilling towards the northwest of the Assafou deposit has identified significant mineralisation that extends below the existing Assafou pit shell.   

Figure 16: Assafou Cross Section A2966
Refer to Figure 16 within appended News Release     

Regional Exploration

Endeavour’s 2026 – 2030 exploration strategy, published on 2 December 2025, outlines our conceptual resource discovery target for the Assafou project. Near-term targets include the Assafou, Pala Trend 3, Pala Trend 2 and Pala SW targets, which are all in close proximity, with similar mineralisation styles and metallurgy, to the existing Assafou resources.

For FY-2026 exploration at Assafou will advance with a $10 million guided spend focused on testing and progressing several potential satellite targets within 10 kilometres of the Assafou deposit, including the Pala Trend Southwest and Koumenagaré targets, in addition to resource definition at the Pala Trend 2 target.

Following an extensive soil geochemistry and geological mapping campaign, several new targets in close proximity to Assafou have been identified, with planned follow up in 2026. Figure 17 below, highlights some of the high-grade mineralised intercepts identified at these potential satellite targets.

Endeavour also entered a strategic partnership over the Assuéfry and the Koun-Fao permits, located immediately to the east and south of the Assafou permit, respectively, that host similar geology s to the Assafou deposit.     

Figure 17: Iguela Regional Map
Refer to Figure 17 within appended News Release       

Figures 18, 19 and 20 below highlight the drilling completed at the Pala Trend 3 target in 2025. A 20,000 metre drill programme was completed confirming the presence of continuous lenses of mineralisation in both the Tarkwaian sediments and Birimian basement, close to the contact.

In 2026, a maiden Indicated resource at Pala Trend 3 of 4.7Mt at 1.55g/t for 0.2Moz and a maiden Inferred resource of 1.0Mt at 1.68g/t for 53koz was declared. Pala Trend 3 is located approximately 1 kilometre southwest of Assafou. Mineralisation is high-grade and starts from surface with the potential to supplement near-term production at the Assafou project.

Mineralisation remains open towards the northeast and depth, with further drilling at Pala Trend 3 and the other Pala targets planned for FY-2026.

Figure 18: Pala Trend 3 Cross Section P1166
Refer to Figure 18 within appended News Release

Figure 19: Pala Trend 3 Cross Section P1266
Refer to Figure 19 within appended News Release

Figure 20: Pala Trend 3 Cross Section P1366
Refer to Figure 20 within appended News Release

At Pala Trend 2, a 3,331 metre drilling programme was completed during 2025 and defined a 3 kilometre long mineralised trend at the contact between Tarkwaian sediments and Birimian basement. Pala Trend 2 is located approximately 4 kilometres west of the Assafou deposit with continuous, high-grade mineralisation hosted in Birimian Basement rocks.

ASSAFOU TECHNICAL NOTES

All figures are expressed in United States dollars unless otherwise stated.

Assafou Geology

Mineralisation at Assafou is mainly hosted in Tarkwaian Sandstone, at/or immediately in the vicinity of the structural contact with Birimian Basement rocks (mainly mafic rocks). Gold mineralisation occurs both as disseminated occurrences within pervasively altered sandstone and within, or at the edges of, quartz (±carbonate) veins and breccias that crosscut the altered sandstones. Alteration is reflected by an induration (silicification) and by the presence of sulphides (pyrite), disseminated within the matrix and distributed along the sandstone bedding. The more intense the silicification (and presence of pyrite), the more mineralised the sandstones tend to be.

The structural contact likely controlled the initial sandstone deposition (normal fault in extensional regime). It was then reactivated under an SSW-NNE compressive regime at the brittle-ductile transition, associated with strong mylonitisation and alteration (quartz, carbonate, pyrite, ± sericite, ± chlorite) of the Birimian Basement rocks, and with mafic and felsic intrusions as dykes and sills. Gold mineralisation is likely to have occurred during this reversal, in the post-Tarkwaian reactivation event. Mineralising hydrothermal fluids are believed to have preferentially invaded the Tarkwaian Sandstones rather than the Birimian Basement rocks, due to their higher initial porosity, permeability and competency.

Assafou Resource Modelling

The statistical analysis, geological modelling and resource estimation were prepared by Endeavour’s resource team. The Qualified Person as defined by NI 43-101 responsible for the statistical analysis, geological modelling and mineral resource estimate is Kevin Harris, Vice President of Resources at the effective time for Endeavour. Mr. Harris has approved the disclosure relating to such technical information in this press release.

The Assafou mineral resource model was developed in Seequent’s Leapfrog Geo, Snowden’s Supervisor and Geovia’s Surpac software. The database used to generate the mineral resources comprised some 1,367 drill holes, totalling 278,454 metres. The drill hole data was supported by industry-standard quality assurance and quality control systems, with quality control sampling comprising blanks, coarse blanks, certified reference materials, and field and pulp duplicates. The QP has reviewed the QA/QC data available and considers the assay data to be suitable for use in the subsequent mineral resource estimate.

Mineralisation domains were modelled with the Vein System tool in Leapfrog Geo using the interval selection for each vein. The gold assays from the drill holes were composited to 1.0 metre intervals. Grade capping values were applied depending on the mineralised domain, between no cap and 40 g/t Au. Spatial analysis of the gold distribution within the mineralised zone indicated good continuity of the grades along strike and down dip within the mineralised zones. A geostatistical analysis (variography) of the composited gold assay grades was undertaken based on the representative estimation domains. During the variogram analysis, geological interpretation and modelling identified two distinct structural trends: northeast (NE) dipping trend and southwest (SW) dipping trend.

To properly capture spatial continuity within these orientations, the domains containing the highest number of samples were selected for detailed study. Domain 103 for the SW trend and Domain 238 for the NE trend. Variography has been applied using Snowden’s Supervisor for those domains and experimental variogram models were produced for these domains.

Density measurements from 10,224 samples covering each of the lithologies, were averaged based on the material type (and lithology, in the case of fresh material). Average density values were applied to the associated portions of the block model as outlined below:

Laterite 1.98 g/cm3Saprolite: 1.91 g/cm3Saprock: 2.38 g/cm3Fresh: 2.77 g/cm3 Gold grades were estimated in Geovia’s Surpac using Inverse Distance Squared (‘IDW2’) and Ordinary Kriging ('OK’). The grade was estimated in multiple passes to define the higher confidence areas and extend the grade to the interpreted mineralised zone extents.

The grade estimation was validated with visual and statistical analysis, and comparison with the drilling data on sections with swath plots comparing the block grades with the composites.

The majority of the resource is within the fresh rock, approximately 1.0% of the ounces is oxide, 11.0% is transition and 88.0% is fresh rock.

Endeavour considers that the quality and spatial distribution of the data used, the geological continuity of the mineralisation and the quality of the estimated block model for the Assafou deposit are sufficient for the reporting of Measured, Indicated and Inferred mineral resources, in accordance with the CIM Definition Standards (CIM, 2014). Measured mineral resources have typically been defined in in-fill drilling areas with a drill hole spacing of 20 - 25 metres along sections, Indicated mineral resources have typically been defined in areas with a drill hole spacing of 20 - 40 metres along sections, and (30 to 40 metres) between sections, where there is a reasonable level of confidence in geological and grade continuity. Inferred mineral resources have typically been defined in areas with a drillhole spacing of 50 - 75 metres, and where the controls on mineralisation are less well understood, or the continuity is reduced.

Mineral resources are reported within an optimised pit shell using a cut-off grade of 0.40 g/t Au and a gold price of $1,900/oz. Technical and economic assumptions were agreed for mining factors (mining and selling costs, mining recovery and dilution, pit slope angles) and processing factors (gold recovery, processing costs), which were used for optimisation. The optimised factors are summarised below:

Mining cost: $3.75/t ore and $2.72/t wasteProcessing cost: Oxide/Transitional: $11.08/t ore; Fresh: $11.66/t oreG&A cost: $4.68/t oreSustaining capital cost: $1.45/t oreOther ore related costs (including grade control): $0.78/t oreSelling cost: $71.50/oz AuMining recovery: 95.0%; Dilution 0.0%Processing recovery: 95.7% for Oxide/transitional ore and 93.1% for fresh ore at the average gradeAverage slope angles: 28-43°, dependent on geotechnical domain Drilling, Assay, Quality Assurance and Quality Control Procedures

Reverse Circulation (“RC”) and Air Core (“AC”) drilling uses high pressure compressed air to deliver rock materials to the surface. The compressed air is delivered via a dual tube drill rod system, with an outer tube for air going down-hole, and an inner-tube for return going back to surface. In RC drilling, compressed air drives a percussion hammer. In both RC and AC drilling, compressed air carries rock particles back to surface via the inner tube, minimizing potential contamination affects.

The samples are collected from the cyclone at surface at 1 metre intervals. The cyclone is cleaned after every 6-metre rod by flushing the hole and physical opening of the cyclone and blowing out with compressed air at the end of each hole. Additional manual cleaning is required in saprolitic or wet ground, closely monitored by the site geologist / geo-technician to ensure no sample-to-sample contamination occurs. Samples are manually split at the drill site using two different riffle splitters, based on bulk sample weight. 2 to 5 kilograms laboratory samples and a second 2 to 5 kilograms reference sample are collected. Bulk and laboratory sample weights, in addition to moisture levels are recorded. Representative samples for each interval were collected with a spear, sieved into chip trays and retained for reference.

Diamond drilling collects drill core (PQ, HQ and NQ size) samples that are selected by Endeavour geologists and cut in half with a diamond blade at the project site. Half of the core is retained at the site for reference purposes. Sample intervals are generally 1 metre in length, adjusted with geologic and/or structural contacts. All samples are transported by road to Bureau Veritas in Abidjan. Each laboratory sample is secured in poly-woven bags ensuring that there is a clear record of the chain of custody. On arrival samples are weighed. Complete samples are crushed to 2 mm (70% passing) with 1 kilogram split out for pulverization. The entire 1 kilogram is pulverized to 75 μm (85% passing). A 50-gram sample is extracted and analysed for gold using standard fire assay technique. An Atomic Absorption (“AA”) finish provides the final gold value.

Blanks, field duplicates and certified reference material (“CRM’s”) are inserted into the sample sequence by Endeavour geologists at a rate of one of each per 20 samples. This ensures that there is a 5% Quality Assurance / Quality Control (“QA/QC”) sample insertion rate applied to each fire assay batch. The sampling and assaying are monitored through analysis of these QA/QC samples. This QA/QC program was audited by a consultant, independent from Endeavour Mining and has been verified to follow industry best practices.

In 2021 and 2022, 1,757 samples were sent to ALS Ouagadougou for umpire (referee) analysis. For 2023, 6,999 samples were sent for umpire testing at ALS Ouagadougou for preparation and analysis. When the original results for all umpire samples from BV are compared to ALS, for 2021 and 2022 the correlation coefficient is 95.9%. For 2023, the correlation coefficient is 87.7%. Correlation measures the relationship between the two values. The closer a value is to 100%, represents increased correlation. The absolute percent difference between the calculated means for the datasets is 3.15% for 2021 and 2022 and 2.7% for 2023. There is good correlation between the original results and those from the umpire laboratory. Core sampling and assay data were monitored through a quality assurance/quality control program designed to follow NI 43-101 and industry best practice.

Assafou Mineral Reserve Estimate

The Mineral Reserve Estimate (as at 31 December 2025) for the Project is supported by engineering designs and modifying factors in accordance with CIM Definition Standards. The Qualified Person as defined by NI 43-101 responsible for the Mineral Reserve estimate is Francois Taljaard, Pr. Eng, BEng (Hons) IND, SAIMM, MIMMM, of SRK Consulting (UK) Ltd. Mr Taljaard is a qualified person and independent for the purposes of National Instrument 43-101 and has reviewed and approved the disclosure relating to the Mineral Reserve Estimate in this press release.

The open pit is designed with three phases, an interim stage, a final phase, and a southern extension. The life-of-mine plan for the Project includes modification to the Resource model to generate the mining block through re-blocking, which introduces a degree of dilution, the pre-mining topographic surface and the Open Pit optimisation analysis. The same economic parameters were used to generate the pit shells for the Mineral Resource and the Mineral Reserve, with the exception of gold price and sales costs, which were $1900/oz and $1500/oz respectively.

A marginal gold cut-off grade of 0.40 g/t was used in the calculation of the open pit quantities for the production schedule and the mineral reserve estimate. The economic cut-off grade is calculated based on the processing cost parameters including cost of; grade control and run-of-mine re-handling; ore premium; processing the ore, plant/infrastructure maintenance, general and administration charges, and sustaining capital costs. Mineral reserve cut-off grades are 0.40 g/t Au for Laterite/, Saprolite/ and Saprock, and 0.50 g/t Au for Fresh rock.

The mineral reserve is reported from an engineered pit design, as a scheduled mining and processing estimate, that includes stockpiling. The scheduled mineral reserve is reported based on aggregating all Measured and Indicated mineral resource blocks incorporated within the life-of-mine plan, and reported inclusive of all appropriate dilution, diluted grade and losses; and all inferred material treated as waste.

QUALIFIED PERSONS

Lucette Hugo, VP Resource and Reserve of Endeavour Mining plc., a “Qualified Person” as defined by NI 43-101, has reviewed and approved the technical information other than in respect of the statistical analysis, geological modelling, and resource estimation and mineral reserve estimate in respect of Assafou disclosed in this release.

Endeavour has presented a comparison of the DFS to PFS for informational purposes and notes that the PFS should no longer be relied on as it is being replaced with the DFS.

CONTACT INFORMATION 

ABOUT ENDEAVOUR MINING PLC

Endeavour Mining is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets.

A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the London and Toronto Stock Exchanges, under the symbol EDV.

For more information, please visit www.endeavourmining.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains "forward-looking statements" within the meaning of applicable securities laws.  All statements, other than statements of historical fact, are "forward-looking statements". Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", and "anticipates".

Forward-looking statements, while based on management's reasonable estimates, projections and assumptions at the date the statements are made, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to international operations; risks related to general economic conditions and the impact of credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; Endeavour’s financial results, cash flows and future prospects being consistent with Endeavour expectations in amounts sufficient to permit sustained dividend payments; the completion of studies on the timelines currently expected, and the results of those studies being consistent with Endeavour’s current expectations; actual results of current exploration activities; production and cost of sales forecasts for Endeavour meeting expectations; unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates; increases in market prices of mining consumables; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; extreme weather events, natural disasters, supply disruptions, power disruptions, accidents, pit wall slides, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities; changes in national and local government legislation, regulation of mining operations, tax rules and regulations and changes in the administration of laws, policies and practices in the jurisdictions in which Endeavour operates; disputes, litigation, regulatory proceedings and audits; adverse political and economic developments in countries in which Endeavour operates, including but not limited to acts of war, terrorism, sabotage, civil disturbances, non-renewal of key licences by government authorities, or the expropriation or nationalisation of any of Endeavour’s property; risks associated with illegal and artisanal mining; environmental hazards; climate-related physical and transition risks; the availability and performance of emissions-reduction and renewable energy technologies; changes in climate-related disclosure requirements or ESG-related regulation; evolving stakeholder expectations; the reliability and accuracy of ESG-related data (including greenhouse gas emissions estimates, particularly Scope 3 emissions); reliance on third-party information, contractors and suppliers for ESG metrics; and the Company’s ability to achieve ESG-related targets or ambitions; and risks associated with new diseases, epidemics and pandemics.

ESG-related disclosures are inherently subject to measurement uncertainties and methodological limitations. Certain ESG metrics, including greenhouse gas emissions, climate scenario analysis, biodiversity impacts and supply chain data, are based on evolving standards, estimates, assumptions and third-party information, and may not have the same degree of accuracy, comparability or assurance as financial information prepared in accordance with IFRS. As ESG reporting frameworks and regulatory requirements in the United Kingdom and Canada continue to develop, the Company may revise or update its methodologies, baselines or disclosures in future reporting periods.

Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedarplus.ca for further information respecting the risks affecting Endeavour and its business. 

260423 - NR - Assafou DFS 260423 - Financial Model - Assafou DFS 260423 - Drill Results - Assafou project

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

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

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

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

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

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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

VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

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

Stock to Watch: Sony (SONY - Free Report) Headquartered in Tokyo, Japan, Sony Group Corporation designs, manufactures and sells several consumer and industrial electronic equipment. The company’s product roster comprises audio and video equipment, televisions, network services, game hardware and software, mobile phones and image sensors. Additionally, Sony is active in the production, acquisition and distribution of recorded music and the management and licensing of the words and music for songs.

SONY is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.

Momentum investors should take note of this Consumer Discretionary stock. SONY has a Momentum Style Score of B, and shares are up 1.1% over the past four weeks.

For fiscal 2027, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.05 to $1.34 per share. SONY boasts an average earnings surprise of +32.6%.

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

66.8-megapixel full-frame mirrorless interchangeable-lens camera offering the highest resolution and
continuous shooting performance in the Alpha™ series[1]

, /PRNewswire/ -- Sony Electronics introduces the Alpha 7R VI, the sixth generation of its celebrated Alpha 7R series. Built on the series' legacy of leading resolution, this full-frame mirrorless camera pairs an approximately 66.8 effective megapixel back-illuminated fully-stacked Exmor RS™ CMOS sensor with the new BIONZ XR2™ engine. The result: exceptional resolution, accurate color, and reliable performance across subjects ranging from people in motion to wildlife to expansive landscapes.

Sony Electronics Accelerates High-Resolution Photography with the Alpha 7R VI Sony also introduces the XLR-A4 XLR adaptor to expand on-camera audio capabilities for professional productions, including 32-bit float recording [2].

"The Alpha 7R series stands for image quality you can trust on screen, in print, and in the most demanding conditions. The Alpha 7R VI takes that further with the speed, intelligence, battery life, and viewfinder quality our creators have been asking for. Every decision strengthens what this series does best and makes it work harder for the people who rely on it," said Yang Cheng, Vice President of Imaging Solutions, Sony Electronics Inc.

Alpha 7R VI (ILCE-7RM6), mirrorless interchangeable-lens digital camera; Release date: June 2026; Price: $4,499.99 USD, $5,999.99 CAD XLR-A4, XLR adaptor, Release date: June 2026; Price: $779.99 USD, $1089.99 CAD Alpha 7R VI Product Feature video: https://youtu.be/iDhbKSdqqb8

Alpha 7R VI Key Features

Expanded High-Resolution Shooting

66.8 MP (approximate, effective) full-frame fully-stacked Exmor RS sensor with up to 16 stops[3]of dynamic range and reduced noise in the mid-sensitivity range  Precise 5-axis optical image stabilization delivering up to 8.5 stops at the center and 7.0 stops at the periphery[4] Auto White Balance powered by visible light and infrared (IR) sensor and deep-learning illumination estimation, for stable natural color in shaded or indoor scenes Intelligence in Every Frame with High-Speed, High-Precision Continuous Shooting

BIONZ XR2 engine with integrated AI processing unit and approximately 5.6x faster sensor readout than the previous model [5], enabling blackout-free continuous shooting at up to approximately 30 fps[6] delivering up to 60 AF/AE calculations per second with AF/AE tracking Real-time Recognition AF+ (Plus) with skeletal-based human pose estimation and tracking, for reliable focus on fast-moving subjects including athletes and dynamic scenes Built for Professional Demands

 New NP-SA100 high-capacity battery (2670 mAh) supports up to 710 still images via LCD monitor or 600 via viewfinder (CIPA standard), reducing battery changes during extended shoots[7] Approximately 9.44M dot OLED viewfinder with a DCI-P3 equivalent color gamut and 10-bit HDR—maximum brightness is approximately three times higher than conventional models [5] for clear visibility in bright environments Effective heat management allows uninterrupted 8K movie recording up to 120 min[8] Dual USB Type-C🄬 ports for simultaneous charging and data transfer; illuminated rear buttons for low-light operation  Magnesium alloy for a lightweight and durable body; 4-axis multi-angle LCD monitor for flexible shooting angles; mode-dial "Memory Recall" links shooting setups to customizable buttons [9] Supports Sony's Camera Authenticity Solution, including the C2PA standard, enabling verification that still images and videos were captured with a camera (not AI-generated) Professional Video

 8K 30p recording with 8.2K oversampling[10] and full frame 4K 60p and 120p recording without crop[11] Dual Gain Shooting, a first in the Alpha series[12], optimizes sensor performance to reduce noise losing shadow detail for smooth gradation and wide latitude Redesigned in-camera stabilization expands the roll-direction compensation range by 2x[5]; Dynamic active Mode[13] delivers smooth and steady handheld  32-bit float audio internal recording in camera when paired with the XLR-A4 XLR adaptor, eliminating the need for fine adjustment on location[14] Key Features of the XLR-A4 XLR Adaptor

Supports in-camera digital audio recording with up to 4-channel; XLR microphones, such as the ECM-778 (up to 2ch), and connects 3.5 mm stereo mini jack microphones (2ch stereo) via the Multi Interface (MI) Shoe  Dual AD converters digitize microphone signals across a wide dynamic range, capturing quiet ambience through loud action with clarity[2]  Records digital audio at up to 96kHz 32-bit float 4ch on compatible cameras[2], fully leveraging high-end XLR microphone quality. The 32-bit float format eliminates the need for fine gain adjustment on location, significantly reducing the risk of audio distortion[14] Lower profile height design and a reinforced chassis structure compared to the XLR-K3M, supporting stable shooting across on-location scenarios Supplied shoe audio extension cable allows placement up to approximately 60 cm from the camera; side routing minimizes interference with rigs and accessories USB Audio Class 2.0 compatible; functions as a 96 kHz 24-bit 2ch audio interface when connected to a PC for on-site audio monitoring and editing Optional accessories for Alpha 7R VI (sold separately)

Rechargeable Battery Pack NP-SA100- High-capacity battery with InfoLITHIUM functionality, delivering approximately 1.3x the power capacity of the NP-FZ100 Z-series battery. Integrates with camera power management to optimize endurance and thermal behavior. Includes an in-camera battery deterioration indicator. Available June 2026 Price: $119.99 USD, $169.99 CAD Vertical Grip VG-C6- Ergonomic grip for comfortable vertical or horizontal shooting, housing up to two high-capacity SA-series batteries. Dust- and moisture-resistant construction, equivalent to the camera body. Available: June 2026 Price: $459.99 USD, $649.99 CAD Battery Charger BC-SAD1- Dedicated charger for the SA-type battery NP-SA100. With a USB Power Delivery source of 45 W or higher[15], charges two batteries simultaneously in approximately 115 minutes or one battery to 80% in approximately 55 minutes and full charge in approximately 85 minutes. Displays battery pack deterioration status during charging. Available: June 2026 Price: $139.99 USD, $199.99 CAD DC Coupler DC-C2- Provides stable continuous power via an external USB Power Delivery source of 100 W or higher a USB-C® to USB-C cable.[15] Available: June 2026 Price: $149.99 USD, $209.99 CAD For main specifications and details, please visit the product websites:

Alpha 7R VI: https://electronics.sony.com/imaging/interchangeable-lens-cameras/full-frame/p/ilce7rm6b 

XLR-A4: https://electronics.sony.com/imaging/imaging-accessories/interchangeable-lens-camera-accessories/p/xlra4 

Exclusive stories and exciting new content shot with the new Alpha 7R VI, XLR-A4 and Sony's other imaging products can be found at www.alphauniverse.com, a site created to inform, educate, and inspire content creators.

Learn more about the Alpha 7R VI from the newly released in-depth course on AlphaCameraAcademy.com, a free education site for beginner creators.

About Sony Electronics Inc.

Sony Electronics is a subsidiary of Sony Corporation of America and an affiliate of Sony Group Corporation, one of the most comprehensive entertainment companies in the world, with a portfolio that encompasses electronics, music, motion pictures, mobile, gaming, robotics, and financial services. Headquartered in San Diego, California, Sony Electronics is a leader in electronics for the consumer and professional markets. Operations include research and development, engineering, sales, marketing, distribution, and customer service. Sony Electronics creates products that innovate and inspire generations, such as the award-winning Alpha Interchangeable Lens Cameras and revolutionary high-resolution audio products. Sony is also a leading manufacturer of end-to-end solutions from 4K professional broadcast and A/V equipment to industry-leading 4K and 8K Ultra HD TVs. Visit http://www.sony.com/news for more information.

Notes

[1] As of the announcement in May 2026.

[2] Internal recording in camera. Compatible with Alpha 7R VI. Alpha 7 V will be supported via a software update in or after May.

[3] Approximate. Sony tests. Still images at low sensitivities. Mechanical shutter.

[4] CIPA 2024 standards. Pitch/Yaw/Roll compensation. FE 50mm F1.2 GM lens. Long exposure NR off.

[5] Compared to Alpha 7R V. Sony internal measurement.

[6] [Hi+] continuous shooting mode, electronic shutter. Continuous shooting speed may be lower in some conditions. See Sony's support web page for lens compatibility information: https://www.sony.net/tutorial_ilc_2620/continuousshooting/

[7] Actual performance varies based on settings, environmental conditions, and usage. Battery capacity decreases over time and use.

[8] XAVC HS 8K, 30p 200M 4:2:0 10bit, Temp. setting [High], with monitor open. This is when temperature is 25℃.

[9] By setting the mode dial to [⚹], users are able to change the shooting mode or recall up to 10 settings via the menu and the "Memory Recall function" can be used from the menu screen or custom buttons.

[10] When recording in 8K 30p, the angle of view becomes narrower.

[11] Crop-free full-frame 4K 120p recording is available when [4K angle of View Priority] is set to [On].

[12] Available when recording in 4K at 30p or lower.

[13] Angle of view is reduced more than in Active Mode. Clear Image Zoom is not available when using Dynamic active Mode. 8K and 120 fps or higher

[14] If audio clipping has already occurred at the microphone input stage, it cannot be restored even if the volume is adjusted in post-production.

[15] A USB Power Delivery (PD)-compatible external power supply and USB cable are not included.

SOURCE Sony Electronics, Inc.

Artificial intelligence has notoriously struggled with creating images, writing out gibberish on signs, or adding extra fingers to people. But it doesn’t seem to be much help for photography either—and the internet is having a field day over it.

The official X account for the Sony Xperia smartphone shared examples from its new “AI Camera Assistant” tool, which offers lens, exposure, and color suggestions for users.

While it’s a decent idea in theory, the images shared by the post revealed otherwise.

The X post included a series of before-and-after examples, with the tool appearing to create a comedically overexposed effect.

Subscribe to the Daily newsletter.Fast Company's trending stories delivered to you every day

In one of the images, a picture of a person in a field is turned from one with depth and contrast into an overly bright photograph.

Another before-and-after combo featured a close-up of a sandwich, with the “after” version reducing the contrast to the point that the image appears to be without depth.

[Screenshot: via X]But while someone clearly thought the images were good enough to post online, the X post quickly backfired, turning its comment section into a flurry of criticisms and mockery, with many posting their own satirical before-and-afters.

Explore TopicsAIcamerassony

© ilbusca / iStock Unreleased via Getty Images

It’s getting harder to find value within the AI scene these days, especially after the latest spike in the semiconductor stocks. With the iShares Semiconductor ETF (NASDAQ:SOXX) soaring more than 6% in a single day on Tuesday, it feels like the overheated names are just getting bubblier and bubblier. Of course, there’s still relative value in the semis. But, for the most part, you’re paying historic premiums, and if there’s any hint of a turning of the cycle, investors might be quick to take profits.

Just because AI demand is through the roof doesn’t mean the semis can keep going like this forever. In any case, it’s becoming harder to just keep watching historic gainers in the semi space from the sidelines. Micron (NASDAQ:MU) joining the $1 trillion market cap club was certainly not on the bingo cards of many going into the year.

Sony might be one of the last of the cheap AI plays — a long-term horizon might be needed, though Just because semis are running too hot, potentially fanning bubble fears, though, does not mean there isn’t anything worthy to buy out there in some of the less-obvious corners of the market. Sony (NYSE:SONY | SONY Price Prediction) stands out as more of a hidden gem of an AI beneficiary, while investors ditch the stock over a handful of notable operating stumbles.

Whether we’re talking about the big losses from its Bungie acquisition (active development on its former cash cow Destiny 2 franchise has finally ended) or slowing PlayStation 5 unit sales amid rising component costs due to AI, it feels like Sony is on the wrong side of the AI revolution. Indeed, Sony is feeling the heat as the “memory tax” caused by the rise of AI really takes a bite out of margins.

Still, much of that negativity seems mostly priced into the stock at this point. At the time of this writing, shares of Sony go 16.89 times forward price-to-earnings (P/E). And while price hikes on PlayStation Plus might not be the way around higher DRAM prices or the write-downs over at Bungie, I do think that Sony has more than one way to shift to the right side of the AI boom in the coming years.

Apart from AI’s ability to reduce production timelines and boost productivity in the entertainment segment (Sony is already using “powerful” AI tools to help augment creators), the company could also find itself in the midst of the “physical AI” revolution as robotics takes off, paving the way for greater demand for sensory hardware.

The Taiwan Semiconductor deal could be big Sony is in a rather unique spot, with fab kingpin Taiwan Semiconductor (NYSE:TSM) recently inking an AI sensor deal with Sony. Given Taiwan Semiconductor’s pretty much the chokepoint of the global chip scene, I’d argue that such a move demands investor attention, especially as investors crowd into the obvious trades instead of taking a hint from industry titans as to where the puck could be headed next. Undoubtedly, it’s too soon in the game to think that image sensors are the next DRAM.

As a leader in the space, though, Sony will be ready when the demand wave comes. Given the timing of the Taiwan Semiconductor deal along with Elon Musk’s ambitious Optimus manufacturing timeline, I’d argue that a robotics boom might not be all too far around the corner. The only question is whether there will be enough image sensors to go around.

Of course, Sony has become quite a messy story with the gaming business dragging it down of late. However, in due time, I do expect Sony to be lifted by AI across its segments, from entertainment to image sensors, rather than dragged down by it via the inflation in memory prices. The stock’s down over 26% from its high, but it might be all too long before investors get past that in-line quarter and AI turns from a headwind to a tailwind.

On June 02, 2026, we present a DCF analysis for Sony Group Corp SONY, a company that has experienced a mixed performance in the market recently. Over the past week, the stock has risen by 1.9%, and in the last month, it has gained 14.1%. However, year-to-date, the stock is down by 11.5%, and over the past year, it has also declined by 11.0%. Here are some key points from our analysis:

DCF Earnings-based intrinsic value of $33.48 vs current price of $22.57 (margin of safety: 44.5%) DCF FCF-based intrinsic value of $21.64 vs current price (second opinion indicates fair valued) GF Score™ of 78/100 suggests a reliable DCF input assessment What Is SONY Worth? DCF Earnings-Based Model To determine the intrinsic value of Sony Group Corp, we utilized a two-stage DCF model. The first stage considers a growth phase lasting ten years, during which we expect earnings per share (EPS) to grow at a rate of 19.1% annually. The second stage accounts for a terminal growth phase, where we anticipate a more modest growth rate of 4% for the subsequent ten years. The discount rate applied to both stages is 11%, derived from the risk-free rate and equity risk premium.

Parameter Value Current EPS (TTM, excl. non-recurring) $1.14 10-Year Growth Rate 19.1% 10-Year Treasury Rate 4.43% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% The calculation summary for the DCF model is as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 19.1%, discounted at 11% $17.11 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $16.37 Intrinsic Value Growth + Terminal $33.48 With the current price at $22.57, the intrinsic value of $40.65 indicates that the stock is significantly undervalued, presenting a margin of safety of 44.5%. It is important to note that GuruFocus utilizes EPS without non-recurring items, as research suggests that stock prices correlate more closely with earnings than with free cash flow. For further details, you can access the SONY DCF Calculator.

What Does the Free Cash Flow DCF Say? In addition to the earnings-based DCF model, we also analyzed Sony's intrinsic value using a Free Cash Flow (FCF) DCF model. The FCF-based intrinsic value is calculated at $21.64, which indicates a slight disagreement with the earnings-based valuation. The FCF model suggests that the stock is fair valued, with a margin of safety of -4.3%.

How Does GF Value™ Compare to the DCF Models? The GF Value™ for Sony Group Corp is calculated at $19.55, providing a third perspective on the company's valuation. GF Value™ is GuruFocus' proprietary measure derived from historical trading multiples, past business growth, and future performance estimates. When comparing the three models, we observe that the earnings-based DCF indicates significant undervaluation, while the FCF model suggests fair valuation, and the GF Value™ indicates that the stock is overvalued. For more insights, visit the GF Value™ page.

What Does SONY's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns based on backtested data from 2006 to 2021. Below is the GF Score™ breakdown for Sony:

Metric Rating GF Score™ 78/100 Financial Strength 8/10 Profitability 8/10 Growth 8/10 Valuation 7/10 Momentum 1/10 With a predictability rank of 1/5 stars, it indicates that the DCF model may be less reliable for this stock. For more information, visit the SONY stock page.

Key Assumptions and Limitations It is essential to recognize that DCF models are highly sensitive to the assumptions made regarding growth rates and discount rates. Stocks with low predictability ratings, such as Sony's, tend to produce less reliable DCF estimates. The terminal growth rate of 4% is a simplifying assumption that may not reflect future market conditions accurately.

What This Means for Investors In synthesizing the three valuation models—DCF earnings, DCF FCF, and GF Value™—we find a mixed consensus on Sony's valuation. The earnings-based DCF suggests the stock is significantly undervalued, while the FCF model indicates fair valuation, and the GF Value™ suggests overvaluation. Overall, investors should approach SONY with caution given the discrepancies among the valuation models.

For the full DCF analysis, visit the SONY DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.

Frequently Asked Questions What is SONY's intrinsic value based on DCF?

[Answer: earnings-based $40.65, FCF-based $21.64]

Is SONY overvalued or undervalued?

[Answer using DCF + GF Value™ consensus]

How reliable is the DCF model for SONY?

[Answer using predictability rank 1/5]

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

Dubbed “The Internet’s Delete Button,” Midnight Labs is the first enforcement platform to deliver court-admissible evidence at scale, with 2.8 billion takedowns and counting

DUBLIN, TOKYO & SAN FRANCISCO--(BUSINESS WIRE)--Midnight Labs, the market leader in predictive IP protection for entertainment, gaming and content industries, today announced an investment from the Sony Innovation Fund. The investment will fuel the expansion of Midnight Labs’ agentic Enforcement Engine to protect high-value entertainment IP from mass piracy, deepfakes and AI-generated infringement in the U.S. and Japanese markets.

Midnight Labs, the Internet's Delete Button, secures the full IP chain against generative AI misuse, deepfakes and piracy, including creator content, brand identity, NILV, character likeness, studio assets, and audio/video content, including live streams.

Share Video piracy alone will drive an estimated $125 billion in annual revenue leakage by 2028. Dubbed “The Internet’s Delete Button,” Midnight Labs delivers automated enforcement workflows that once took weeks in minutes, performing 120 hours of scanning, detection, analysis, verification and removal in just 60 seconds. To date, Midnight Labs has removed more than 2.8 billion pieces of infringing content, protecting the world's largest streaming platforms, podcast networks, talent agencies and Fortune 100 executives. Through its creator-focused product, Ceartas (/ˈkar-tɪs/, the Irish word for justice), Midnight Labs also protects the world's biggest content creators and creator-economy brands. Unlike traditional legacy solutions that focus on counterfeit goods, Midnight Labs focuses on the content that most directly undermines revenue and erodes reputation, including pirated films, leaked music, cloned livestreams, and weaponized deepfakes targeting talent and executives.

“Generative AI has industrialized piracy, exposing IP holders to both financial loss and real-time reputational damage,” said Dan Purcell, CEO and founder of Midnight Labs. “A single deepfake of a CEO, created in seconds and distributed across thousands of sites, can cause immediate, catastrophic harm before a legal team can even open a ticket. Traditional digital rights management built on manual processes simply cannot keep pace with AI-generated infringement, leaving legal and content protection teams overwhelmed. We make enforcement autonomous by scanning, detecting, proving and removing stolen content faster than it can spread, returning control to IP holders over their content, reputation and revenue. The backing of Sony Innovation Fund accelerates that mission.”

Court-Admissible Evidence at Scale.

Midnight Labs is the first enforcement platform that integrates legal-grade evidence collection directly into an automated pipeline. The platform backs every takedown with a forensic evidence bundle, including time-stamped screenshots, cryptographic hashes, HTML source archives and full network records. This approach turns enforcement from a reactive legal chore into a proactive asset for rights holders and ensures IP holders receive litigation-ready documentation without manual work.

Protecting the Full IP Chain.

Midnight Labs secures the full IP chain against generative AI misuse, deepfakes and piracy, including creator content, brand identity, NILV (Name/Image/Likeness/Voice), character likeness, studio assets, and audio/video content, including live streams. The platform continuously scans more than 75 million sources, including the dark web and non-compliant platforms, identifies threats in real time and automates takedowns, filings and compliance workflows. Critically, Midnight Labs does not rely on external AI models, ensuring full privacy, security and control of sensitive material.

Market Expansion in Japan and APAC.

Manga remains the most pirated content globally, and sophisticated digital piracy syndicates operate at unprecedented scale in Japan, making the country uniquely vulnerable to AI-generated copyright infringement. The investment from the Sony Innovation Fund accelerates Midnight Labs’ expansion in Japan and across APAC, giving the company a stronghold to dismantle these networks by removing content and neutralizing threats before damage spreads.

“Midnight Labs is tackling an important and increasingly complex problem for the creative industries. We are pleased to support the team and look forward to collaborating as they build solutions for rights holders worldwide,” said Antonio Avitabile, Managing Director, Sony Ventures EMEA.

About Midnight Labs

Midnight Labs is the enterprise leader in AI-powered IP protection, trusted by the world's largest streaming platforms, entertainment studios, podcast networks, talent agencies, and Fortune 100 executives. The company has removed over 2.8 billion pieces of infringing content across gaming, anime, manga, film, sports, music and live streaming.

Headquartered in Dublin, Midnight Labs is a Google Trusted Copyright Removal Program partner and a privately held company backed by Sony Innovation Fund, Airbridge Equity Partners, Earlybird VC, and Upside VC. Follow Midnight Labs on LinkedIn or learn more at https://midnightlabs.ai.

About Ceartas

Ceartas (/ˈkar-tɪs/), the Irish word for justice, is the creator-focused product of Midnight Labs, protecting the world's biggest content creators and creator-economy brands from impersonation, piracy, and deepfakes. Founded to fight exploitation and protect victims of non-consensual content, Ceartas empowers creators and agencies with seamless global protection. Follow Ceartas on LinkedIn or learn more at https://ceartas.io.

Sony believes it has found the future of TV technology with True RGB, a new display system that uses independently controlled red, green, and blue LEDs to deliver richer colors, better viewing angles, and brighter images. After getting an early hands-on look in New York, I break down how True RGB works, why it matters, and what to expect from Sony's new Bravia 9 II and Bravia 7 II TVs.

Sony Group Corporation remains a Buy as valuation improves despite recent operational setbacks and market underperformance. Recent losses from the discontinued AFEELA EV project and Bungie impairment are offset by prudent capital allocation and cost discipline. Key upside catalysts include potential outperformance in Gaming and Pictures, notably from GTA 6 and blockbuster film releases.

Take-Two Interactive Software, Inc. confirmed GTA 6's November 19th launch, significantly reducing delay risk and driving strong after-hours gains. TTWO's Q4 delivered a double beat on revenue and EPS, with robust growth in recurrent consumer spending and strong performances from NBA 2K and GTA Online. FY 2027 guidance of $8 billion in net bookings is notably below market expectations, raising questions about management's conservatism or underlying risks.

Take-Two Interactive Software, Inc. (TTWO) Q4 2026 Earnings Call Transcript

Stock futures are pointing to a slightly higher open ahead of the long holiday weekend; the Dow closed at its first record high in more than three months yesterday, while the S&P 500 is on pace to post gains for the 8th consecutive week; shares of Estée Lauder are rallying after the cosmetics maker dropped acquisition talks with a fellow makeup brand, Puig; Workday stock is rallying after the enterprise software maker reported results that topped Wall Street estimates; and Take-Two Interactive shares are climbing after the video game maker beat estimates and said "Grand Theft Auto VI" is still on track for its Nov. 19 release date. Here's what you need to know today.

Stock Futures Tick Higher Ahead of Holiday Weekend Stock futures are gaining ground this morning as markets look to close out the week on a high note ahead of the three-day Memorial Day weekend. Futures tied to the Dow Jones Industrial Average were up 0.4% recently, while S&P 500 and Nasdaq futures added 0.2% The major indexes each rose yesterday, sending the Dow to a record closing high (more on that below). WTI crude oil futures, the U.S. benchmark, were up more than 1% at around $97.50 per barrel, but remain well below the highs of near $109 hit a few days ago. Gold futures were down slightly this morning at $4,520 an ounce, while bitcoin was little-changed at $77,400. The yield on the 10-year Treasury note ticked lower to 4.56%, after hitting a 16-month high of 4.67% on Tuesday. Bond markets will close early at 2 p.m. ET today ahead of the holiday weekend

Dow at Record High, S&P 500 Riding Win Streak The major indexes are all on track to end the week higher than where they started it, with the S&P 500 in position to post gains for the 8th consecutive week. The tech-heavy Nasdaq Composite is on pace to post gains for the 7th time in the last eight weeks. Meanwhile, the Dow Jones Industrial Average on Thursday closed at a record high for the first time since Feb. 10. Coming into Friday's session, the Dow had risen 1.5% so far this week, outpacing the respective 0.5% and 0.3% gains of the S&P 500 and Nasdaq.

Estee Lauder Stock Jumps After Deal Talks Dropped Shares of Estée Lauder Companies (EL) are rallying this morning after the cosmetics giant announced that it is no longer in talks to acquire a fellow makeup brand. The company and Puig, another cosmetics maker, said late Thursday that their talks over a potential acquisition, which started in late March, have ended without a deal.1 Shares of Estée Lauder were up 13% in recent premarket trading, after entering the day having lost about a quarter of their value since the start of the year.

Workday Stock Jumps on Solid Results, Raised Outlook Workday (WDAY) shares are rallying after the enterprise software maker reported better-than-expected quarterly results and lifted its profitability forecast. Workday reported $2.54 billion in revenue along with adjusted earnings of $2.66 per share for the first quarter, each above the analyst consensus compiled by Visible Alpha. The company held its full-year outlook for subscription revenue steady, but lifted its adjusted operating margin guidance to 30.5% from 30% previously.2 Workday shares, which have fallen more than 40% so far this year, were up 7% ahead of the opening bell. Workday and a number of other software makers have seen their stocks battered by concerns that AI products will eat into their growth.

Take-Two Stock Rises on Confirmation of Grand Theft Auto VI Release Schedule Shares of Take-Two Interactive (TTWO) are on the rise after the video game maker released results that topped analysts' estimates and confirmed that its latest blockbuster release, "Grand Theft Auto VI," is still on track for November. The company reported a smaller-than-expected fiscal fourth-quarter loss of 32 cents per share on $1.68 billion in revenue.3 CEO Strauss Zelnick said the Nov. 19 launch of "GTA VI" is expected to drive Take-Two's performance to record levels, after delays in the game's yearslong development have weighed on the stock in the past. Take-Two shares were up 3% in recent trading.

Key Takeaways TTWO topped Q4 sales estimates as GAAP net revenues rose 6.1% YoY to $1.68B.Take-Two expanded gross margin to 55.9% as operating income returned to positive territory.TTWO guided FY27 Net Bookings to $8.0B-$8.2B with cash flow above $1B. Take-Two Interactive Software (TTWO - Free Report) posted a fourth-quarter fiscal 2026 GAAP net loss of 32 cents per share, narrower than a loss of $21.08 reported in the year-ago quarter.

TTWO reported adjusted earnings of 80 cents per share, down 26.6% year over year, but surpassed the Zacks Consensus Estimate by 42.86%.

GAAP net revenues increased 6.1% year over year to $1.68 billion and beat the Zacks Consensus Estimate of $1.55 billion. The largest contributors to GAAP net revenues included NBA 2K26 and NBA 2K25, Grand Theft Auto Online and Grand Theft Auto V, Toon Blast, Empires & Puzzles, Match Factory!, Color Block Jam, Red Dead Redemption 2 and Red Dead Online, Words With Friends, Borderlands 4 and WWE 2K26. The quarter again highlighted the breadth of Take-Two’s portfolio across console, PC and mobile.

Revenues from the United States increased 4.8% year over year to $991.7 million and accounted for 59% of GAAP net revenues. The rest came from international revenues, which rose 8.1% year over year to $688.1 million.

Game revenues increased 6.4% year over year to $1.57 billion and accounted for 93.4% of total revenues. The rest came from advertising revenues, which rose 2.5% year over year to $111.4 million, representing the remaining 6.6%.

Net Bookings were essentially flat year over year at $1.58 billion. Bookings from the United States decreased 3.0% year over year to $932.7 million, accounting for 59% of total Net Bookings. The rest came from international bookings, which increased 4.4% year over year to $647.6 million.

TTWO's Q4 DetailsRecurrent consumer spending grew 7% year over year for the period and accounted for 82% of total Net Bookings.

In terms of distribution channels, Digital online revenues increased 7.2% year over year to $1.64 billion and represented 97.4% of GAAP net revenues. Physical retail and other revenues decreased 22.1% year over year to $44.3 million and accounted for the remaining 2.6% of GAAP net revenues. Digital online net bookings edged up 0.8% year over year to $1.54 billion and comprised 97.5% of net bookings, while Physical retail and other net bookings fell 24.2% year over year to $40.0 million, representing 2.5% of net bookings.

In terms of platform, mobile, console, and PC and other contributed 50.2%, 40.2% and 9.6% of GAAP net revenues, respectively. Mobile revenues rose 12.9% year over year to $843.9 million, while console revenues increased 14.1% to $674.6 million. PC and other revenues declined 33.8% year over year to $161.3 million.

On the bookings side, mobile, console, and PC and other represented 52.5%, 38.1% and 9.4% of net bookings, respectively. Mobile net bookings climbed 13.6% year over year to $829.1 million, console net bookings were essentially flat (up 0.1%) at $602.1 million, and PC and other net bookings decreased 40.3% year over year to $149.1 million.

Take-Two Highlights Engagement Across Core FranchisesManagement emphasized that live services and add-on monetization remained a primary driver of performance. The company pointed to growth in NBA 2K’s recurrent spending, continued expansion in mobile and ongoing strength in Grand Theft Auto Online during the quarter.

This mix matters for investors because it can reduce reliance on one-off releases and extend the earnings power of established franchises. With live services contributing a large share of bookings and revenues, engagement levels across NBA 2K, Grand Theft Auto and mobile titles remain a key near-term swing factor.

TTWO’s Q4 Operating DetailsTake-Two's GAAP gross profit rose 16.9% year over year to $938.7 million. Gross margin expanded to 55.9% from 50.8% in the year-ago quarter.

Total operating expenses were $927.8 million, down sharply from $4.58 billion in the year-ago quarter. The prior-year period included a $3.55 billion goodwill impairment.

Selling expenses decreased 2.5% year over year to $392.2 million. General and administrative expenses declined 2.8% year over year to $223.8 million. Research & development expenses decreased 11.9% year over year to $262.5 million. Business reorganization expenses decreased significantly to $0.9 million from $17.1 million in the year-ago quarter.

Operating income was $10.9 million compared with the year-ago quarter's operating loss of $3.78 billion, representing a significant improvement.

Balance Sheet & Cash Flow DetailsAs of March 31, 2026, TTWO has cash and cash equivalents of approximately $1.55 billion compared with $2.16 billion as of Dec. 31, 2025. The company also had short-term investments of $443.8 million. It had total debt of $2.79 billion as of Dec. 31, 2025 (consisting of $30 million in short-term debt and $2.49 billion in long-term debt).

For fiscal 2026, net cash provided by operating activities was $624.3 million, a significant improvement from the operating cash outflow of $45.2 million in fiscal 2025. Capital expenditures for fiscal 2026 were $163 million, while the company expects approximately $200 million in capital expenditures for fiscal 2027.

TTWO's Q1 & FY27 GuidanceFor the first quarter of fiscal 2027, management expects Net Bookings of $1.32-$1.37 billion and GAAP total net revenues of $1.45-$1.50 billion. The company also forecast a GAAP net loss per share between 23 cents and 15 cents, alongside expected EBITDA of $155-$179 million, reflecting continued investment as it positions its pipeline for the remainder of the year.

Take-Two introduced initial fiscal 2027 Net Bookings guidance of $8.0-$8.2 billion, implying a step up from fiscal 2026. The company also guided to GAAP total net revenues of $7.9-$8.1 billion and GAAP diluted net income per share of 55 to 75 cents for the year ending March 31, 2027.

The company projects operating cash flow to exceed $1 billion in fiscal 2027, with capital expenditures expected to be approximately $200 million.

Take-Two’s Zacks Rank & Other Stocks to ConsiderCurrently, TTWO carries a Zacks Rank #2 (Buy).

Alto Ingredients (ALTO - Free Report) , Codere Online Luxembourg (CDRO - Free Report) and Hasbro (HAS - Free Report) are some other top-ranked stocks that investors can consider in the broader Zacks Consumer Discretionary sector. While Alto Ingredients currently sports a Zacks Rank #1 (Strong Buy), Codere Online Luxembourg and Hasbro carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Alto Ingredients’ shares have jumped 58% year to date. ALTO’s long-term earnings growth rate is projected at 53.7%.

Codere Online Luxembourg’s shares have gained 17.3% year to date. CDRO’s long-term earnings growth rate is projected at 10.53%.

Hasbro shares have returned 9.8% year to date. HAS’ long-term earnings growth rate is projected at 8.53%.

Take-Two Interactive Software Inc (NASDAQ:TTWO)’s quarterly results were viewed positively by Wedbush analysts, who pointed to broad-based portfolio strength and reaffirmed confidence in the company’s outlook despite a softer-than-expected fiscal 2027 bookings guide.

Investors weren’t so upbeat, sending shares of Take-Two down more than 4% to about $228 on Friday morning.

Wedbush highlighted improving visibility around Grand Theft Auto VI’s release timeline, alongside steady momentum in recurring consumer spending.

“Take-Two beat Q4 2026 expectations and reaffirmed that GTA VI is on track for its November 19, 2026, release,” wrote Wedbush analysts. “Early financial year 2027 guidance came in below expectations, but appears overly conservative.”

While the fiscal 2027 outlook fell short of consensus, Wedbush said it views the guidance as consistent with the company’s typical approach ahead of major releases. “Financial year 2027 initial guide of $8 billion to $8.2 billion (up 20% year-over-year) was below our prior $9.4 billion estimate and $9.3 billion consensus, which we view as intentional conservatism consistent with Take-Two’s historical floor-guidance pattern in major launch years,” they wrote.

The analysts said they trimmed some estimates but maintained a constructive stance on the underlying business mix and engagement trends across franchises. “We lowered our estimates to reflect lower Mobile expectations on tough comps and maturing titles and lower back-catalog sales around the GTA VI launch,” they wrote. “That said, we remain highly optimistic as Take-Two’s portfolio performs well across categories.”

Wedbush reiterated its ‘Outperform’ rating, Best Ideas List inclusion, and $300 price target on Take-Two.

On valuation, they argued the stock does not yet reflect the scale of the upcoming GTA VI release or the contribution from recurring revenue streams. “The stock trades at just 23x consensus FY:28 EPS, which, in our view, does not incorporate the scale of the GTA VI launch and the growing mix of high-margin recurring revenue,” they wrote.

The firm also increased confidence in the GTA VI release timeline following the latest update, seeing the probability that the November date will hold going from 75% to 90%.

On quarterly performance, Wedbush highlighted results that exceeded expectations across key metrics. “Q4 net bookings of $1.58 billion exceeded the high end of guidance ($1.51 billion to $1.56 billion) and surpassed our estimate of $1.56 billion and consensus of $1.555 billion,” they wrote.

They added that recurrent spending remained a core driver of performance, while Zynga delivered notable strength within the mobile segment.

On May 22, 2026, Take-Two Interactive Software Inc TTWO shares fell 4.4% today, closing at $227.55. The stock's performance reflects a challenging period, with a 52-week high of $264.79 and a low of $187.63.

GF Value™ verdict: Current price is $227.55, which is 19.7% overvalued compared to the GF Value™ of $190.13.GF Score™ is 75/100, indicating an above-average potential for long-term returns.Notable signal: Insiders sold $15.2 million in the last 3 months with no buying activity. Is TTWO Overvalued or Undervalued? The current market price of Take-Two Interactive Software Inc TTWO stands at $227.55, which reflects a significant premium over the GF Value™ of $190.13. This indicates that the stock is approximately 19.7% overvalued. The GF Valuation label categorizes the stock as "Modestly Overvalued," suggesting that there may be limited upside potential at the current price. Investors may encounter risk if the company fails to meet growth expectations, which could lead to a decline in share price.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the current valuation, the margin of safety appears to be minimal, and potential investors should proceed with caution as the stock is trading above its estimated fair value.

How Does TTWO's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 28.5x 35.6x (5-Year Median) TTWO's current forward P/E ratio of 28.5x is below its 5-year median P/E of 35.6x, indicating that the stock is trading at a lower valuation multiple compared to its historical average. This P/E analysis aligns with the GF Value™ verdict that suggests the stock is currently overvalued, as it indicates that even though the stock is trading at a lower historical valuation, it remains elevated relative to its intrinsic value.

What Does TTWO's GF Score™ Tell Us? Metric Rating GF Score™ 75 Financial Strength 4/10 Profitability 6/10 Growth 7/10 Valuation 5/10 Momentum 5/10 The GF Score™ of 75/100 indicates that TTWO is positioned above average in terms of potential long-term returns. The strongest area is Growth, with a score of 7/10, reflecting a solid outlook for the company's revenue and earnings. However, the Financial Strength rating of 4/10 indicates potential vulnerabilities in its balance sheet, which could be a concern for long-term investors. Overall, while TTWO shows promise in growth potential, its financial metrics warrant caution.

What Are Insiders Doing with TTWO Stock? In the past three months, insiders at Take-Two Interactive Software Inc have sold approximately $15.2 million worth of shares, with no insider buying reported during that period. This pattern of selling could suggest a lack of confidence in the stock's near-term performance or an opportunity for insiders to realize gains. Such activity can be a red flag for potential investors, as it may indicate that those closest to the company do not expect substantial price appreciation in the near future.

What This Means for Investors Based on the GF Value™ assessment, Take-Two Interactive Software Inc TTWO is currently overvalued. The stock's current price exceeds its intrinsic value, suggesting that investors may want to consider this valuation discrepancy in their investment decisions.

For the complete analysis, visit the Take-Two Interactive Software Inc TTWO stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is TTWO's GF Score™?

TTWO's GF Score™ is 75/100, indicating that it is positioned above average in terms of potential long-term returns based on key financial metrics.

Is TTWO overvalued or undervalued?

TTWO is currently overvalued, with a GF Value™ of $190.13 compared to its current price of $227.55, suggesting a premium of 19.7% over intrinsic value.

What is TTWO's P/E ratio?

TTWO's forward P/E ratio is 28.5x, which is lower than its 5-year median P/E of 35.6x, indicating that the stock is trading at a lower valuation compared to its historical average.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Let's take a look at what these Wall Street heavyweights have to say about Take-Two Interactive (TTWO - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Take-Two currently has an average brokerage recommendation (ABR) of 1.21, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 29 brokerage firms. An ABR of 1.21 approximates between Strong Buy and Buy.

Of the 29 recommendations that derive the current ABR, 25 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 86.2% and 6.9% of all recommendations.

Brokerage Recommendation Trends for TTWO

Check price target & stock forecast for Take-Two here>>>

The ABR suggests buying Take-Two, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.

Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABRAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.

The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.

In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.

Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.

There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.

Should You Invest in TTWO?Looking at the earnings estimate revisions for Take-Two, the Zacks Consensus Estimate for the current year has declined 1.6% over the past month to $7.98.

Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Take-Two. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, it could be wise to take the Buy-equivalent ABR for Take-Two with a grain of salt.

Take-Two Interactive is positioned for multi-year growth, with GTA VI serving as a platform catalyst rather than a single-event driver. TTWO's FY 2026 showed strong net bookings growth and improved cash flow, setting a healthier base ahead of GTA VI's November 2026 launch. The portfolio's strength extends beyond GTA and NBA 2K, with Zynga and mobile contributing significantly to digital revenue and recurrent consumer spending.

The countdown for Grand Theft Auto VI is on. Take-Two Interactive (TTWO 0.24%) has confirmed a Nov. 19 release date for the blockbuster title. It's widely considered to be the largest entertainment release in history, with some analysts projecting sales of up to 40 million units in its first year.

GTA VI is launching into a gaming market far different from the one that welcomed GTA V more than a decade ago. The live-service space is crowded today, with competition from the likes of Fortnite and Roblox. Beyond the battle for gamer attention, established publishers also face the threat of artificial intelligence (AI), which could lower development costs and speed up time-to-market.

While the release of GTA VI remains the primary catalyst for the stock, the company's financials are shaping up at just the right time.

Image source: Getty Images.

Gearing up to fill the company's coffers After three years of negative free cash flow (FCF), Take-Two generated roughly $460 million in FCF in fiscal 2026. Its mobile segment, powered by hits like Toon Blast and Match Factory!, is becoming a more important part of the business, now accounting for half of total revenue.

This shift provides some protection against the console cycle. Management is also looking to improve mobile margins by rolling out direct-to-consumer sales channels, allowing users to bypass app store payment fees.

Today's Change

(

-0.24

%) $

-0.52

Current Price

$

211.56

Meanwhile, the majority of the business has shifted toward a live-service model that generates steady, repeatable cash flow. Recurrent consumer spending (RCS), which includes virtual currency, add-on content, and in-game purchases, now accounts for 78% of the company's total revenue.

This figure grew 16% in fiscal 2026, driven by sports titles like NBA 2K and mobile games like Color Block Jam. The RCS model generates more than $5 billion in annual recurring revenue, turning blockbuster games into annuity-like cash flows. Grand Theft Auto V, released over a decade ago, still generates recurring revenue after selling almost 230 million copies.

The company's sports franchises use a similar strategy, with annual releases supported by continuous in-game spending. Today, the live-service model provides a stable foundation, reducing its dependence on blockbuster launch cycles.

A more durable franchise The obsession with GTA VI is understandable. The franchise has sold nearly 465 million units, and its online version has generated billions in recurring revenue. The new installment is expected to be the biggest entertainment launch in history, with management guiding for net bookings growth of around 20% to $8 billion this year.

But the investing thesis no longer rests solely on one title. The company's portfolio includes a variety of successful franchises, including new installments of Borderlands and NBA 2K, all designed with live-service components to extend their monetization. This diversified collection, supported by the steady cash flow from its mobile division, creates a more resilient business model.

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

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

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

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

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

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.

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

Stock to Watch: Block (XYZ - Free Report) Block, Inc. was incorporated in San Francisco in 2009. The company does not designate a headquarters location as it adopted a distributed work model in 2021. It has been an S&P 500 constituent since July 2025.

XYZ is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Computer and Technology stock. XYZ has a Momentum Style Score of B, and shares are up 5.4% over the past four weeks.

11 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.23 to $3.86 per share. XYZ boasts an average earnings surprise of +3.5%.

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

-

As America’s workforce shifts toward variable income, Cash App and Afterpay complete their most ambitious product integration yet – expanding pay-over-time flexibility to the modern earner

DISTRIBUTED-WORK-MODEL/OAKLAND, Calif.--(BUSINESS WIRE)--Cash App today announced the general availability of Afterpay on Cash App Card, bringing Buy Now, Pay Later to eligible Cash App Card customers.1 The launch marks the full commercial realization of a product built for a new kind of American earner: one whose income doesn't arrive on a fixed schedule, whose financial needs extend well beyond a merchant’s checkout, and who has long been underserved by a traditional financial system that wasn't designed with them in mind.

Gig workers, creators, hourly employees, and independent contractors increasingly manage variable income across multiple streams and they need payment flexibility that moves with them. Afterpay on Cash App Card is built for that reality: pay-over-time for everyday spend categories like groceries, gas, restaurants, and utilities, built into the app millions of people already use to manage their money.

“Millions of people already trust Cash App Card for their everyday spending. What Afterpay on Cash App Card does is take that existing trust and extend it, giving eligible customers the flexibility to pay over time for any purchase, not just the ones a merchant has opted into. That’s what the combination of these two platforms makes possible: Afterpay’s best-in-class BNPL product, distributed through a financial ecosystem that tens of millions of people already rely on, for the everyday spend categories that actually matter to their lives,” said Owen Jennings, Executive Officer and Head of Business, Block.

The product pairs Cash App's real-time data underwriting, which evaluates cash flow patterns and financial behaviors rather than backward-looking credit scores, with Afterpay's pay-over-time expertise and transparent fee structure: a flat 7.5% finance fee, six-week repayment terms,1 no revolving debt, no down payment, and no impact to a customer's credit score. The result is a product that expands access to short-term credit for customers who have historically been excluded from it.

Early customer data makes clear that Afterpay on Cash App Card can be a regular cash flow tool, not simply a one-off purchase. More than three in five customers who have made an Afterpay on Cash App Card transaction have used it at least five times.2

The general availability of Afterpay on Cash App Card is the clearest proof point yet of what the convergence of Afterpay and Cash App makes possible. Building on the pilot launch, today's rollout extends Afterpay on Cash App Card to all eligible Cash App Card customers across Cash App's 59 million monthly transacting actives.3

Recent innovations from Cash App and Afterpay shared ecosystem includes expanding its Pay Monthly option — offering longer-term installment options on larger purchases — to merchant checkout for Cash App customers, and introducing the ability for customers to retroactively convert eligible peer-to-peer payments and Cash App Pay transactions into flexible installments. Together with Afterpay on Cash App Card, these capabilities form a comprehensive suite of flexible payment products built to meet customers however and wherever they choose to spend.

About Cash App

Cash App is the money app. Banking* on Cash App is easy: customers can receive paychecks early with direct deposit, spend money where Visa is accepted with a personalized Cash App Card, and grow their money with a separate savings balance - all without hidden fees. Customers can also create a unique $Cashtag to share with anyone to get paid fast, make purchases with Cash App Pay, trade stocks and buy and sell bitcoin**. With Afterpay***, customers can also pay over time in a way that best fits their financial needs through participating merchants or directly in the app. Download Cash App for free at cash.app/download.

*Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC. Cash App Visa® Debit Flex Cards issued by Sutton Bank, Member FDIC, and The Bancorp Bank, N.A., pursuant to a license from Visa U.S.A. Inc. See terms and conditions for the Sutton prepaid card, Sutton debit flex card, and Bancorp debit flex card. See cash.app for more details.

**Brokerage services provided by Cash App Investing LLC, member FINRA/SIPC, subsidiary of Block, Inc. Stablecoin, Bitcoin Map, and Lightning Network are not available to New York residents. Bitcoin services provided by Block, Inc. Bitcoin services are not licensable activity in all U.S. states and territories. Block, Inc. operates in New York as Block of Delaware and is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Investing and bitcoin are non-deposit, non-bank products that are not FDIC insured and involve risk, including monetary loss. Cash App Investing does not trade bitcoin and Block, Inc. is not a member of FINRA or SIPC. For additional information, see the Bitcoin and Cash App Investing disclosures.

***Afterpay is offered and managed through your Cash App account - no Afterpay account needed. Eligibility is based on several factors and is not guaranteed. Afterpay is not available in all states. Afterpay loans issued by First Electronic Bank, serviced by Square Capital, Inc. View state licenses.

1 Afterpay is offered and managed through your Cash App account - no Afterpay account needed. Afterpay loans offered and originated by First Electronic Bank, Member FDIC. Eligibility for Afterpay on Cash App Card is based on various factors and is not guaranteed. Afterpay on Cash App Card is not available in all states and some rates and terms may differ by state. Overdraft Coverage and Rounds Ups are not supported by Afterpay on Cash App Card. A Cash App customer identifies a Cash App Card purchase of $240 and opts to finance the purchase for a term of 42 days, with a finance charge of $18, and 6 weekly payments. The loan has a setup fee of 7.5% for a fixed APR of 65.15%. In this example, the customer will borrow $240 and owe 6 weekly payments of $43, for a total repayment of $258. Loan amounts range from $1 to $1000 and loan terms are 42 days.

2 Block internal data analyzed between February to May 2026 of new Afterpay on Cash App Card users

3 Block, Inc Q1 2026 results

More News From Block, Inc.

Back to Newsroom

-

The family-owned Thai Kitchen & Bubble Tea shop utilizes Square Marketing, Square Kiosk, and Neighborhoods on Cash App to deepen its foothold on a tight-knit Oregon community

DISTRIBUTED-WORKFORCE/OAKLAND, Calif.--(BUSINESS WIRE)--Square today announced that Baker St Cafe - Thai Kitchen & Bubble Tea, a family-run restaurant in McMinnville, Oregon, is utilizing Square's unified commerce platform to power its standing as one of the town's most beloved dining destinations. In the two years since its founding, Baker St Cafe has established a strong local reputation enabling it to serve 1 in 7 residents* of McMinnville, and secured the Thai SELECT certification, a distinction awarded by the Royal Thai Government to just nine restaurants in all of Oregon to guarantee authentic Thai taste.

Founded by Fon Khunsamart, a Thai immigrant who grew up cooking alongside her grandmother and professional chef father, Baker St Cafe brings genuine Thai home cooking to a small American town. With Fon’s husband, Thomas Khunsamart, managing the operations and technology, and their three sons learning the business alongside them, the cafe runs as a true family enterprise. The couple relies on Square's unified commerce ecosystem including Square Register, Square Kiosk, and Square Marketing to handle more than 5,700 monthly transactions as they focus on providing the highest quality Thai dining experiences.

Unlocking the neighborhood with Square

Square Marketing has become the engine behind Baker St Cafe's customer attraction and retention strategy. At any given time, the cafe has more than 28 automated campaigns spanning email and SMS running simultaneously, with significant sales contributions directly attributed to their success. Even in a smaller town like McMinnville, the cafe has seen more than 700 campaign promotion redemptions. Rather than manually managing outreach, Baker St Cafe’s approach is to set up automated flows that run in the background, freeing Fon to remain focused on her craft in the kitchen and Thomas to spend more time ensuring smooth operations.

“Square is reliable and always launching new features – not staying stagnant,” said Thomas Khunsamart, Baker St Cafe co-owner. “A lot of companies roll out a product and don't update it for ten years. Square is always evolving, which we love."

Baker St Cafe joined the Neighborhoods on Cash App program in 2026 as an early adopter. The cafe’s growing Neighborhoods followers demonstrate encouraging engagement trends from follow to purchase. Followers also visit more frequently than the cafe's broader customer base. For Thomas, Neighborhoods represents a direct line to the cafe's most loyal diners, with a built-in pipeline of return visitors and a way to reclaim local market share from third-party platforms that would otherwise charge higher processing fees.

"I see a lot of people that live locally ordering on third-party platforms right away rather than trying to order directly with us even though they live locally," said Khunsamart. "Neighborhoods gives us a way to incentivize our local customers to keep coming back. The 1% processing on online orders, repeat customers, being able to communicate directly with those followers who are clearly excited to follow you and see your updates and get deals from you – that's what excites me most."

Data-driven decisions, down to the menu

Thomas uses Square's reporting tools for continuous optimization. Item-level sales reports inform every menu update: low-selling or complex dishes come off, and are replaced by items with better margins or higher customer demand. Kitchen workflow follows the data too. Sales trend history enables the team to anticipate slow days and reduce food prep accordingly, cutting waste and protecting the bottom line.

"I use the sales reports and item sales to see what is not popular," continued Khunsamart. "When I redo the menu I take off items that don't make much money or are harder to make. I use it to optimize kitchen workflow and replace it with a lower cost or higher ROI product that more customers will purchase."

A kiosk that keeps up with a world-class kitchen

Baker St Cafe runs Square Kiosk as a core part of its in-store ordering flow. For Baker St Cafe, the decisive advantage is automation: every menu change made in Square pushes to the kiosk automatically, with no manual updates required. That reliability pays off across a fast-paced counter environment where keeping up with a frequently evolving menu would otherwise be a recurring operational burden.

"We switched to Square Kiosk because I don't ever have to update it. Every time I make a change, it updates automatically," said Khunsamart. "That just made it easier for me as the owner."

"Baker St Cafe is a model example of what we aim to help neighborhood favorites become," said James Schonzeit, Head of Food & Beverage at Square. "A first-generation immigrant family, cooking real food, building a community from scratch in a small town, and doing it with the discipline of operators twice their size. In just two years, they've made themselves a local institution. There’s so much to learn from their success.”

Learn more about how Square powers restaurants at: https://squareup.com/us/en/restaurants

About Baker St Cafe - Thai Kitchen & Bubble Tea

Founded by Fon Khunsamart in McMinnville, Oregon, Baker St Cafe – Thai Kitchen & Bubble Tea is a family-owned restaurant bringing authentic Thai home cooking to the Pacific Northwest. Inspired by the recipes Fon grew up cooking alongside her grandmother and father in Thailand, the cafe is run by Fon, her husband Thomas, and their three sons. Thai SELECT certified by the Royal Thai Government, Baker St Cafe has become a beloved local staple known for its authentic flavors, warm hospitality, and deep roots in the McMinnville community. Learn more at https://www.thebakerstcafe.com/.

About Square

Square helps businesses turn transactions into connections and businesses into neighborhood favorites.

In 2009, Square started with a simple invention — the first mobile card reader, which changed how the entire financial system thinks about small businesses. Square has since grown into a global business platform helping millions of sellers of all sizes participate and thrive in their communities.

Whether independently run or a global chain, Square understands that sellers succeed when they have the freedom to focus on the experiences that keep customers coming back. From point of sale and payments to online commerce, staff management, cash flow tools, and more, Square brings together the tools sellers need to run and grow on one intelligent platform. For more information, visit squareup.com.

*Baker St Cafe has served more than 5,300 unique customers in McMinnville, Oregon, where the population is approximately 35,000 residents

More News From Block, Inc.

Back to Newsroom

Key Takeaways Square expanded its partnership with Baker St Cafe through its unified commerce platform.XYZ's tools help attract customers, boost retention and increase repeat local traffic.Square Kiosk and reporting tools improve efficiency, menu decisions and profitability. Block’s (XYZ - Free Report) merchant-focused business, Square, has expanded its partnership with Baker St Café – Thai Kitchen & Bubble Tea, a family-owned restaurant in McMinnville, OR. Through Square’s unified commerce platform, Baker St Café is leveraging a suite of tools designed to enhance customer engagement, streamline operations and support long-term growth.

Square’s marketing solutions are helping the restaurant attract new customers while strengthening retention efforts. Participation in the Neighborhoods on Cash App program has increased visibility among local consumers, driving higher customer engagement, more followers and greater repeat traffic.

The restaurant is also utilizing Square’s reporting tools to analyze sales trends and menu performance. By identifying low-selling items with thinner margins, Baker St Café can replace them with higher-return, lower-cost alternatives, improving profitability and optimizing kitchen workflows.

Meanwhile, Square Kiosk is simplifying the in-store ordering experience through self-service functionality and automated menu updates. This eliminates the need for manual changes, reduces operational burdens and enhances overall efficiency.

The expanded partnership with Baker St Café underscores Square’s ability to deliver an integrated suite of tools that support both customer growth and operational efficiency. By combining marketing capabilities, data-driven insights and automated ordering solutions, Square is helping small businesses streamline operations, improve profitability and strengthen customer relationships. Such collaborations reinforce Block’s strategy of deepening merchant engagement and expanding the value of its Square ecosystem.

Over the past six months, shares of this Zacks Rank #1 (Strong Buy) company have gained 13.9% against the industry’s decline of 9%.

Image Source: Zacks Investment Research

Other Stocks to ConsiderSome other top-ranked stocks from the internet software sector are BILL Holdings, Inc. (BILL - Free Report) and Atlassian (TEAM - Free Report) , each sporting a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for BILL’s 2026 FFO per share is pegged at $2.59, suggesting 17.2% growth year over year.

The consensus estimate for TEAM’s 2026 FFO per share is pinned at $5.48, implying a significant increase year over year.

 | 

Cash App users can now pay by tapping with a wand.

The Cash App Wand is a pearlescent physical payment accessory that is the first example of a new payment form factor called Cash App Tags, the company said in a Thursday (June 4) press release.

The Wand is equipped with a keychain so that it can be clipped, worn and carried with ease; is linked to the user’s Cash App Visa Card; and can be used anywhere Visa tap-to-pay is accepted, according to the release.

Like other Cash App Tags that will be introduced later, the Wand uses NFC technology to enable payments. Customers can use Tags by linking them to their Cash App Card, following the instructions in the app and tapping to pay. When using Tags, there’s no need for a phone or card.

The Cash App Wand was released in a limited run and can be purchased in the app for $25 while supplies last. Cash App plans to introduce several other styles of Cash App Tags in the coming weeks, per the release.

Thomas Templeton, hardware lead at Cash App parent company Block, said in the release that early testers of the Cash App Wand said they enjoy carrying it and showing it off at checkout.

Advertisement: Scroll to Continue

“We see this as an early starting point for Cash App Tags,” Templeton said. “The number of form factors we can create is nearly limitless. From clothing to jewelry, almost any item can become a way to pay with this technology.”

Templeton said in a Thursday post on X that in an earlier initiative, Cash App transformed payment cards from something boring to something people wanted to show off. The Cash App Card offers cardholders a choice of materials, colors and personalization.

However, the card still gets tucked away in a wallet, out of sight, he said. Cash App Tags, on the other hand, live outside the user’s wallet and in the world.

“The first Tag is a wand, because tapping to pay should feel a little more like magic,” Templeton said. “Not to worry, more forms coming throughout the summer.”

-

New brands join Cash App’s commerce merchant network, giving customers more ways to pay this season

DISTRIBUTED-WORK-MODEL/OAKLAND, Calif.--(BUSINESS WIRE)--Cash App today announced new retailers have added its commerce payment products — Afterpay and Cash App Pay — to their checkout experience, giving customers more places to shop and pay with the flexibility they want this summer.

New with Afterpay: Dog Friendly Co, GlassesUSA, Herff Jones, Jaxxon, k2o by Kylie Jenner, Kat The Label, Minky Couture, Monday Swimwear, Nanit, Rally House, REDVANLY, Shokz, and WeWoreWhat

New with Cash App Pay: Fubo, Instacart, Lime, and Sweetgreen

New with Afterpay and Cash App Pay: Made-it Pro, Shoe Carnival & Shoe Station, and Squire

"At Monday Swimwear, we're always looking for ways to make shopping more enjoyable for our customers. Adding Afterpay to our checkout gives our community the flexibility to invest in quality swimwear pieces and pay over time in installments. Whether someone is building their capsule swim wardrobe or treating themselves to that special bikini for summer, Afterpay lets them shop with confidence and manage their payments on their own terms. It's all about empowering our customers to feel their best, both in and out of the water,” said Shannon Owens, Head of Marketing, Monday Swimwear.

“More brands, more flexibility, more ways for customers to pay how they want — that's what this is about. Afterpay and Cash App Pay each serve a distinct customer need, and together they give our merchant partners a powerful set of tools to meet shoppers wherever they are in their purchase journey. We're proud to welcome all these new partners this summer and keep expanding what our commerce suite can offer,” said Tanuj Parikh, Head of Revenue, Afterpay and Cash App.

Afterpay and Cash App Pay are part of Cash App's commerce suite, designed to give customers more choice in how they pay. Afterpay lets shoppers split purchases into four interest-free1 or monthly installments. Cash App Pay lets Cash App customers pay directly from their balance or linked account. Together, they reflect Cash App's commitment to making checkout simpler and more flexible across the brands customers love.

About Cash App

Cash App is the money app. Banking* on Cash App is easy: customers can receive paychecks early with direct deposit, spend money where Visa is accepted with a personalized Cash App Card, and grow their money with a separate savings balance - all without hidden fees. Customers can also create a unique $Cashtag to share with anyone to get paid fast, make purchases with Cash App Pay, trade stocks and buy and sell bitcoin**. With Afterpay***, customers can also pay over time in a way that best fits their financial needs through participating merchants or directly in the app. Download Cash App for free at cash.app/download.

*Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC. Cash App Visa® Debit Flex Cards issued by Sutton Bank, Member FDIC, and The Bancorp Bank, N.A., pursuant to a license from Visa U.S.A. Inc. See terms and conditions for the Sutton prepaid card, Sutton debit flex card, and Bancorp debit flex card. See cash.app for more details.

**Brokerage services provided by Cash App Investing LLC, member FINRA/SIPC, subsidiary of Block, Inc. Stablecoin, Bitcoin Map, and Lightning Network are not available to New York residents .Bitcoin services provided by Block, Inc. Bitcoin services are not licensable activity in all U.S. states and territories. Block, Inc. operates in New York as Block of Delaware and is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Investing and bitcoin are non-deposit, non-bank products that are not FDIC insured and involve risk, including monetary loss. Cash App Investing does not trade bitcoin and Block, Inc. is not a member of FINRA or SIPC. For additional information, see the Bitcoin and Cash App Investing disclosures.

***Afterpay is offered and managed through your Cash App account - no Afterpay account needed. Eligibility is based on several factors and is not guaranteed. Afterpay is not available in all states. Afterpay loans issued by First Electronic Bank, serviced by Square Capital, Inc. View state licenses.

More News From Block, Inc.

Back to Newsroom

Key Takeaways XYZ added new merchant partners for Afterpay and Cash App Pay across multiple retail categories.Afterpay offers installment plans, while Cash App Pay enables direct payments from Cash App accounts.XYZ broadens Cash App utility, supporting engagement and transaction-based revenue opportunities. Block’s (XYZ - Free Report) Cash App has expanded the reach of its commerce payment solutions, Afterpay and Cash App Pay, by adding several new merchant partners. The move aims to provide consumers with greater payment flexibility and a more seamless checkout experience across a broader range of retail categories.

Afterpay is now available at Dog Friendly Co, GlassesUSA, Herff Jones, Jaxxon, k2o by Kylie Jenner, Kat The Label, Minky Couture, Monday Swimwear, Nanit, Rally House, REDVANLY, Shokz and WeWoreWhat. Cash App Pay has been added as a payment option at Fubo, Instacart, Lime and Sweetgreen. Both Afterpay and Cash App Pay are now available with Made-it Pro, Shoe Carnival & Shoe Station, and Squire.

While Afterpay enables customers to split purchases into four interest-free installments or choose longer-term monthly payment plans, Cash App Pay allows users to pay directly from their linked Cash App accounts. Together, these solutions help simplify transactions and enhance the overall shopping experience.

The broader merchant acceptance of Afterpay and Cash App Pay enhances Cash App's utility beyond peer-to-peer payments, helping Block deepen customer engagement while creating additional transaction-based revenue opportunities. Increased adoption by merchants also strengthens the company's competitive position in the rapidly evolving digital payments and buy now, pay later (BNPL) markets.

Over the past three months, shares of this Zacks Rank #1 (Strong Buy) company have gained 6.6% against the industry's decline of 0.3%.

Image Source: Zacks Investment Research

Other Stocks to ConsiderSome other top-ranked stocks from the internet-software sector are BILL Holdings, Inc. (BILL - Free Report) and Atlassian (TEAM - Free Report) , each sporting a Zacks Rank #1. You can see the complete list of today’s Zacks Rank #1 stocks here.

The Zacks Consensus Estimate for BILL’s 2026 earnings per share (EPS) has moved northward 8.4% to $2.59 over the past two months.

The consensus estimate for TEAM’s 2026 EPS has moved up 17.1% to $5.48 over the past two months.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.