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New York, New York--(Newsfile Corp. - April 23, 2026) - Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Marqeta, Inc. (NASDAQ: MQ) breached their fiduciary duties to shareholders.

According to a federal securities lawsuit, Insiders at Marqeta caused the company to misrepresent or fail to disclose that: (1) Marqeta understated the regulatory challenges affecting its business outlook; (2) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024; and (3) as a result, public statements were materially false and/or misleading at relevant times.

If you currently own MQ and purchased prior to February 28, 2024 please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.

Why Your Participation Matters:

As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™

For additional information, please visit Shareholder Derivative Litigation - Kuehn Law.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
[email protected]
(833) 672-0814

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294054

Source: Kuehn Law, PLLC

, /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Marqeta, Inc. (NASDAQ: MQ) breached their fiduciary duties to shareholders. 

According to a federal securities lawsuit, Insiders at Marqeta caused the company to misrepresent or fail to disclose that: (1) Marqeta understated the regulatory challenges affecting its business outlook; (2) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024; and (3) as a result, public statements were materially false and/or misleading at relevant times.

If you currently own MQ and purchased prior to February 28, 2024  please contact Justin Kuehn, Esq. by email at [email protected] or call (833) 672-0814.  Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights. 

Why Your Participation Matters:

As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™ 

For additional information, please visit Shareholder Derivative Litigation - Kuehn Law.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
[email protected]
(833) 672-0814

SOURCE Kuehn Law, PLLC

The global modern card issuer reported Total Processing Volume growth of 33% and Gross Profit growth of 19% in the first quarter of 2026.

OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, Inc. (NASDAQ: MQ), the global modern card issuing platform, today reported financial results for the first quarter ended March 31, 2026.

The Company reported Total Processing Volume (TPV) of $112 billion, representing a year-over-year increase of 33%. Marqeta reported Net Revenue of $166 million and Gross Profit of $118 million, both growing 19% year-over-year. GAAP Net Income for the quarter was $8 million and Adjusted EBITDA was $33 million.

“Our first quarter results demonstrate the power of our platform at scale as we delivered on our promise of achieving GAAP Net Income profitability, a testament to our strong growth and disciplined execution,” said Mike Milotich, CEO of Marqeta. “As a modern card issuer capable of delivering a continuum of products and innovative solutions across multiple use cases and geographies, Marqeta is uniquely positioned to enable growth and engagement for our customers.”

Marqeta highlighted several recent business updates that demonstrate its current business momentum, including:

Long-standing expense management customer Ramp is utilizing Marqeta’s platform to expand its corporate solution into Australia, Japan, Singapore, Brazil and Mexico, with further geographic expansion planned for later in the year. Marqeta is enabling this rapid expansion through a single integration, allowing Ramp to issue virtual and physical cards with customized spend limits globally without the complexity of multiple localized systems. Marqeta enabled Sezzle's expansion of its offering by launching a virtual card in Canada. This expansion allows Sezzle’s Canadian consumers to access the same flexibility and smooth checkout experience available in the U.S. at any Canadian retailer accepting contactless payments. Marqeta signed a new customer that provides an automated financial assistant to help consumers manage their financial lives. This customer selected Marqeta to migrate its existing U.S. secured credit card portfolio, wanting a partner who is at the forefront of enabling innovation and could support its global expansion plans. This solution will be one of the early adopters of the issuer-managed Mastercard One Credential, allowing consumers to toggle between secured credit and installments on a single card for greater flexibility. Marqeta deepened its relationship with a rapidly growing embedded finance brand by launching a new credit builder card alongside their established debit program on Marqeta’s platform. This product is designed to help consumers establish and strengthen their credit profiles through daily spending, highlighting the option value for our customers delivering multiple products from a single platform. Operating Highlights

In thousands, except percentages and per share data, unless otherwise noted. % change is calculated over the comparable prior-year period (unaudited)

Three Months Ended March 31,

%

Change

2026

2025

Financial metrics:

Net Revenue

$

165,798

$

139,073

19%

Gross Profit

$

117,592

$

98,679

19%

Gross Margin

71

%

71

%

—%

Total Operating Expenses

$

115,498

$

117,217

(1%)

Net Income (Loss)

$

7,834

$

(8,260

)

nm

Net Income (Loss) Margin

5

%

(6

%)

11 ppts

Net Income (Loss) Per Share - Basic

$

0.02

$

(0.02

)

nm

Net Income (Loss) Per Share - Diluted

$

0.02

$

(0.02

)

nm

Key operating metric and Non-GAAP financial measures:

Total Processing Volume (TPV)

(in millions) 1

$

112,360

$

84,472

33%

Adjusted EBITDA 2

$

33,338

$

20,081

66%

Adjusted EBITDA Margin 2

20

%

14

%

6 ppts

Adjusted Operating Expenses 2

$

84,254

$

78,598

7%

1 TPV represents the total dollar amount of payments processed through our platform, net of returns and chargebacks. We believe that TPV is a key indicator of the market adoption of our platform, growth of our brand, growth of our customers' businesses and scale of our business.

2 See "Information Regarding Non-GAAP Measures" for definitions of Adjusted EBITDA, Adjusted EBITDA margin, and Adjusted operating expenses and the reconciliations of the net income (loss) to Adjusted EBITDA, and of the total operating expenses to Adjusted operating expenses.

nm - Not meaningful

First Quarter 2026 Financial Results:

Total Processing Volume increased by 33% year-over-year, from $84 billion in the first quarter of 2025 to $112 billion for the quarter ended March 31, 2026.

Net Revenue of $166 million increased by $27 million, or 19%, year-over-year, primarily driven by higher volumes, partially offset by unfavorable mix due to faster growth of card programs where we provide processing services with minimal or no program management.

Gross Profit increased by 19% year-over-year to $118 million from $99 million in the first quarter of 2025. The increase in Gross Profit was largely driven by our TPV growth, net of 1.5 percentage points of headwind due to the revised accounting policy for estimating and recognizing Card Network Incentives. Gross Margin was 71% in the first quarter of 2026.

Net Income of $8 million in the quarter, compared to a Net Loss of $8 million in the same period in the prior year, resulted in a year-over-year improvement of $16 million. Net income margin was 5% in the quarter, an increase of 11 percentage points versus last year.

Adjusted EBITDA was $33 million in the first quarter of 2026, an increase of $13 million year-over-year. Adjusted EBITDA margin was 20% in the first quarter of 2026, an increase of 6 percentage points versus last year.

Financial Guidance

The following summarizes Marqeta's guidance for the second quarter of 2026 and full year of 2026:

Second Quarter 2026

Fiscal Year 2026

Net Revenue Growth

14 - 16%

12 - 14%

Gross Profit Growth

14 - 16%

10 - 12%

Adjusted EBITDA Growth (1)

10 - 12%

Mid-to-high 20s

(1) Adjusted EBITDA Growth represents the year-over-year percentage change in Adjusted EBITDA. See "Information Regarding Non-GAAP Measures" for the definition of Adjusted EBITDA Margin and for information regarding non-availability of a forward reconciliation.

Conference Call

Marqeta will host a live conference call today at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). To join the call, please dial-in 10 minutes in advance: toll-free at 1-877-407-4018 or direct at 1-201-689-8471. The conference call will also be available live via webcast online at http://investors.marqeta.com.

The telephone replay dial-in numbers are 1-844-512-2921 and 1-412-317-6671 and will be available until May 19, 2026, 8:59 p.m. Pacific time (11:59 p.m. Eastern time). The confirmation code for the replay is 13759382.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements relating to Marqeta’s quarterly and annual guidance; statements regarding Marqeta’s profitability; statements regarding Marqeta’s customers, their growth, and their plans to onboard Marqeta's offerings; statements regarding Marqeta's new product introductions and product capabilities; statements regarding Marqeta's ability to enable growth for its customers; and statements made by Marqeta’s Chief Executive Officer. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: the risk that Marqeta is unable to maintain profitability; the risk that Marqeta is unable to further attract, retain, diversify, and expand its customer base; the risk that Marqeta is unable to drive increased profitable transactions on its platform; the risk that consumers and customers will not perceive the benefits of Marqeta’s products, including credit card issuing; the risk that Marqeta's platform does not operate as intended resulting in system outages; the risk that Marqeta will not be able to achieve the cost structure that Marqeta currently expects; the risk that Marqeta’s solutions will not achieve the expected market acceptance; the risk that competition could reduce expected demand for Marqeta’s services, including credit card issuing; the risk that changes in the regulatory landscape could adversely affect Marqeta's operations and revenues; the risk that Marqeta may be unable to maintain relationships with Issuing Banks and Card Networks; the risk that Marqeta is not able to identify, close and recognize the anticipated benefits of any acquisition; the risk that Marqeta is unable to successfully integrate any acquisition, to businesses and related operations; the risk of general economic conditions in either domestic or international markets, including inflation and recessionary fears, conditions resulting from geopolitical uncertainty and instability or war; and the risk that Marqeta may be subject to additional risks due to its international business activities. Detailed information about these risks and other factors that could potentially affect Marqeta’s business, financial condition, and results of operations are included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent Quarterly Reports, as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com.

The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

Disclosure Information

Investors and others should note that Marqeta announces material financial information to its investors using its investor relations website, SEC filings, press releases, public conference calls and webcasts. Marqeta also uses social media to communicate with its customers and the public about Marqeta, its products and services, and other matters relating to its business and market. It is possible that the information Marqeta posts on social media could be deemed to be material information. Therefore, Marqeta encourages investors, the media, and others interested in Marqeta to review the information we post on social media channels including the Marqeta X feed (@Marqeta), the Marqeta Instagram page (@lifeatmarqeta), the Marqeta Facebook page, and the Marqeta LinkedIn page. These social media channels may be updated from time to time.

Use of Non-GAAP Financial Measures

Reconciliations of non-GAAP financial measures to the most directly comparable financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section of the tables titled "Information Regarding Non-GAAP Financial Measures".

About Marqeta, Inc.

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $400 billion in annual payments volume in 2025. Marqeta is certified to operate in more than 40 countries worldwide and counting. Visit www.marqeta.com to learn more.

Marqeta® is a registered trademark of Marqeta, Inc.

Marqeta, Inc.

Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)

(unaudited)

Three Months Ended March 31,

2026

2025

Net Revenue

$

165,798

$

139,073

Costs of Revenue

48,206

40,394

Gross Profit

117,592

98,679

Operating Expenses:

Compensation and benefits

78,018

86,050

Technology

18,090

14,811

Depreciation and amortization

8,854

5,331

Professional services

4,631

5,695

Occupancy

1,179

917

Marketing and advertising

1,160

469

Other operating expenses

3,566

3,944

Total Operating Expenses

115,498

117,217

Income (Loss) from operations

2,094

(18,538

)

Other income, net

5,933

10,513

Income (Loss) before income tax expense

8,027

(8,025

)

Income tax expense

193

235

Net Income (Loss)

$

7,834

$

(8,260

)

Net income (loss) per share attributable to Class A and Class B common stockholders

Basic

$

0.02

$

(0.02

)

Diluted

$

0.02

$

(0.02

)

Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders

Basic

428,602

501,222

Diluted

433,571

501,222

Marqeta, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

  March 31,
2026

December 31,
2025

(unaudited)

Assets

Current assets:

Cash and cash equivalents

$

674,790

$

709,443

Restricted cash

280,398

307,593

Short-term investments

37,267

62,483

Accounts receivable, net

45,893

41,422

Network incentives receivable

79,869

61,059

Settlements receivable, net

32,455

18,037

Prepaid expenses and other current assets

37,746

35,278

Total current assets

1,188,418

1,235,315

Property and equipment, net

63,919

59,910

Operating lease right-of-use assets, net

7,506

8,275

Intangible assets, net

48,406

51,388

Goodwill

153,962

154,706

Other assets

14,502

15,439

Total assets

$

1,476,713

$

1,525,033

Liabilities and stockholders' equity

Current liabilities:

Accounts payable

$

789

$

1,847

Revenue share payable

260,144

224,526

Funds payable and amounts due to customers

280,298

306,891

Accrued expenses and other current liabilities

179,905

215,793

Total current liabilities

721,136

749,057

Operating lease liabilities, net of current portion

4,803

5,535

Other liabilities

8,492

8,484

Total liabilities

734,431

763,076

Stockholders' equity:

Common stock

43

43

Additional paid-in capital

1,546,548

1,572,238

Accumulated other comprehensive (loss) income

(310

)

1,509

Accumulated deficit

(803,999

)

(811,833

)

Total stockholders’ equity

742,282

761,957

Total liabilities and stockholders' equity

$

1,476,713

$

1,525,033

Marqeta, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Three Months Ended March 31,

2026

2025

Cash flows from operating activities:

Net income (loss)

$

7,834

$

(8,260

)

Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:

Depreciation and amortization

8,854

5,331

Share-based compensation expense

20,017

25,915

Non-cash operating leases expense

769

535

Accretion of discount on short-term investments

(34

)

(396

)

Other

(671

)

364

Changes in operating assets and liabilities:

Accounts receivable

(4,631

)

1,312

Network incentives receivable

(18,810

)

1,836

Settlements receivable

(14,418

)

1,795

Prepaid expenses and other assets

(1,531

)

(2,543

)

Accounts payable

(1,058

)

1,023

Revenue share payable

35,618

16,016

Accrued expenses and other liabilities

(34,115

)

(31,837

)

Operating lease liabilities

(1,191

)

(1,104

)

Net cash (used in) provided by operating activities

(3,367

)

9,987

Cash flows from investing activities:

Maturities of short-term investments

25,134

22,186

Capitalization of internal-use software

(7,798

)

(6,059

)

Purchases of property and equipment

(1,279

)

(1,266

)

Net cash provided by investing activities

16,057

14,861

Cash flows from financing activities:

Repurchase of common stock

(39,207

)

(111,310

)

Change in funds payable and amounts due to customers

(26,593

)

—

Taxes paid related to net share settlement of restricted stock units

(8,789

)

(7,101

)

Proceeds from exercise of stock options, including early exercised stock options, net of repurchase of early exercised unvested options

51

1,444

Net cash used in financing activities

(74,538

)

(116,967

)

Net decrease in cash, cash equivalents, and restricted cash

(61,848

)

(92,119

)

Cash, cash equivalents, and restricted cash- Beginning of period

1,017,931

931,516

Cash, cash equivalents, and restricted cash - End of period

$

956,083

$

839,397

Marqeta, Inc.

Financial and Operating Highlights

(in thousands, except per share data or as noted)

(unaudited)

First Quarter 2026

Fourth Quarter 2025

Third Quarter 2025

Second Quarter 2025

First Quarter 2025

Year over Year Change Q1'26 vs Q1'25

Operating performance:

Net Revenue

$

165,798

$

172,113

$

163,306

$

150,392

$

139,073

19%

Costs of Revenue

48,206

52,138

48,749

46,331

40,394

19%

Gross Profit

117,592

119,975

114,557

104,061

98,679

19%

Gross Margin

71

%

70

%

70

%

69

%

71

%

— ppts

Operating Expenses:

Compensation and benefits

78,018

88,089

84,871

81,409

86,050

(9%)

Technology

18,090

17,150

16,942

16,102

14,811

22%

Depreciation and amortization

8,854

8,160

7,019

6,653

5,331

66%

Professional services

4,631

6,447

5,518

4,219

5,695

(19%)

Occupancy

1,179

948

1,058

843

917

29%

Marketing and advertising

1,160

2,998

895

711

469

147%

Other operating expenses

3,566

4,477

8,624

3,352

3,944

(10%)

Total Operating Expenses

115,498

128,269

124,927

113,289

117,217

(1%)

Income (loss) from Operations

2,094

(8,294

)

(10,370

)

(9,228

)

(18,538

)

111%

Other income, net

5,933

6,557

7,244

8,787

10,513

(44%)

Income (Loss) before income tax expense

8,027

(1,737

)

(3,126

)

(441

)

(8,025

)

nm

Income tax expense

193

(343

)

498

206

235

(18%)

Net Income (Loss)

$

7,834

$

(1,394

)

$

(3,624

)

$

(647

)

$

(8,260

)

nm

Income (Loss) per share - basic

$

0.02

$

0.00

$

(0.01

)

$

0.00

$

(0.02

)

nm

Income (Loss) per share - diluted

$

0.02

$

0.00

$

(0.01

)

$

0.00

$

(0.02

)

nm

TPV (in millions)

$

112,360

$

108,694

$

97,962

$

91,386

$

84,472

33%

Adjusted EBITDA

$

33,338

$

30,677

$

30,310

$

28,509

$

20,081

66%

Adjusted EBITDA margin

20

%

18

%

19

%

19

%

14

%

6 ppts

Financial condition:

Cash and cash equivalents

$

674,790

$

709,443

$

747,248

$

732,722

$

830,897

(19%)

Restricted cash (1)

$

281,292

$

308,488

$

235,413

$

8,500

$

8,500

nm

Short-term investments

$

37,267

$

62,483

$

83,212

$

88,865

$

157,540

(76%)

Total assets

$

1,476,713

$

1,525,033

$

1,488,430

$

1,214,590

$

1,349,627

9%

Total liabilities

$

734,431

$

763,076

$

649,201

$

371,157

$

362,367

103%

Stockholders' equity

$

742,282

$

761,957

$

839,229

$

843,433

$

987,260

(25%)

(1) Restricted cash as of March 31, 2026, December 31, 2025 and September 30, 2025, consists primarily of customer funds held by TransactPay in segregated accounts in connection with its program management activities for card and e-money wallet programs amounting to $280.3 million, $306.9 million and $233.9 million, respectively.

ppts = percentage points

nm - not meaningful

Information Regarding Non-GAAP Measures

In addition to the financial measures prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), this press release contains certain non-GAAP financial measures. Marqeta considers Adjusted EBITDA, Adjusted EBITDA Growth, Adjusted EBITDA Margin, Adjusted EBITDA Margin based on Gross Profit, Net Income (Loss) Margin based on Gross Profit, and Adjusted operating expenses as supplemental measures of the Company’s performance that are not required by, nor presented in accordance with GAAP.

We define Adjusted EBITDA as net income (loss) adjusted, as applicable, to exclude depreciation and amortization; share-based compensation expense; payroll tax related to share-based compensation; restructuring and other one-time costs; non-recurring litigation expense; acquisition-related expenses which consist of due diligence costs, transaction costs and integration costs related to potential or successful acquisitions, and cash and non-cash postcombination compensation expenses; income tax expense (benefit); and other income (expense), net, which primarily consists of interest income from our short-term investments and cash deposits, and realized foreign currency gains and losses. We believe that Adjusted EBITDA is an important measure of operating performance because it allows management and our board of directors to evaluate and compare our core operating results, including our operating efficiencies, from period to period. Additionally, we utilize Adjusted EBITDA as an input into our calculation of our annual employee bonus plans and performance-based restricted stock units.

Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by net revenue. Adjusted EBITDA Margin based on Gross Profit is calculated as Adjusted EBITDA divided by Gross Profit, and Net Income (Loss) Margin based on Gross Profit is calculated as Net Income (Loss) divided by Gross Profit. Adjusted EBITDA growth represents the year-over-year percentage change in Adjusted EBITDA. These measures are used by management and our board of directors to evaluate our operating efficiency.

We define Adjusted operating expenses as total operating expenses adjusted, as applicable, to exclude depreciation and amortization; share-based compensation expense; payroll tax related to share-based compensation; restructuring and other one-time costs; non-recurring litigation expense; and acquisition-related expenses which consist of due diligence costs, transaction costs and integration costs related to potential or successful acquisitions, and cash and non-cash postcombination compensation expenses. We believe that Adjusted operating expenses is an important measure of operating performance because it allows management and our board of directors to evaluate and compare our core operating results, including our operating efficiencies, from period to period.

Adjusted EBITDA, Adjusted EBITDA Growth, Adjusted EBITDA Margin, Adjusted EBITDA Margin based on Gross Profit, Net Income (Loss) Margin based on Gross Profit, and Adjusted operating expenses should not be considered in isolation, or construed as an alternative to net loss, or any other performance measures derived in accordance with GAAP, or as an alternative to cash flow from operating activities or as a measure of the Company's liquidity. In addition, other companies may calculate Adjusted EBITDA differently than Marqeta does, which limits its usefulness in comparing Marqeta’s financial results with those of other companies.

The following table shows Marqeta's GAAP results reconciled to non-GAAP results included in this release:

Three Months Ended March 31,

2026

2025

GAAP Net Revenue

$

165,798

$

139,073

GAAP Gross Profit

$

117,592

$

98,679

GAAP Net Income (Loss)

$

7,834

$

(8,260

)

GAAP Net Income (Loss) Margin - % of Net Revenue

5

%

(6

)%

GAAP Net Income (Loss) Margin - % of Gross Profit

7

%

(8

)%

GAAP Total Operating Expenses

$

115,498

$

117,217

Net Income (Loss)

$

7,834

$

(8,260

)

Share-based compensation expense

20,017

25,915

Depreciation and amortization expense

8,854

5,331

Restructuring and other one-time costs(1)

841

2,358

Payroll tax expense related to share-based compensation

820

777

Acquisition-related expenses(2)

712

4,238

Other income, net

(5,933

)

(10,513

)

Income tax expense

193

235

Adjusted EBITDA

$

33,338

$

20,081

Adjusted EBITDA Margin - % of Net Revenue

20

%

14

%

Adjusted EBITDA Margin - % of Gross Profit

28

%

20

%

GAAP Total Operating Expenses

$

115,498

$

117,217

Share-based compensation expense

(20,017

)

(25,915

)

Depreciation and amortization expense

(8,854

)

(5,331

)

Restructuring and other one-time costs(1)

(841

)

(2,358

)

Payroll tax expense related to share-based compensation

(820

)

(777

)

Acquisition-related expenses(2)

(712

)

(4,238

)

Adjusted Operating Expenses

$

84,254

$

78,598

(1) Restructuring and other one-time costs include the costs related to the CEO transition and one-time retention bonuses provided to other key employees. These bonuses have service requirements and are expensed over the requisite service period.

(2) Acquisition-related expenses, including transaction costs, integration costs, and cash and non-cash postcombination compensation expenses, are excluded from Adjusted EBITDA. These expenses are specific to a discrete transaction and do not reflect our ongoing core operations or the recurring expenses required to sustain and operate our business.

A reconciliation of Adjusted EBITDA Growth to the comparable GAAP measure for the second quarter and full year of 2026 is not available due to the challenges and impracticability with estimating some of the items as such items cannot be reasonably predicted and could be significant. Because of those challenges, reconciliations of such forward-looking non-GAAP financial measures are not available without unreasonable effort.

More News From Marqeta, Inc.

 | 

Highlights

Marqeta says embedded finance demand is expanding beyond debit into credit and BNPL.

Card issuing growth was tied to multinational expansion and flexible credential programs.  

Marqeta posted GAAP profit as BNPL and expense management volumes climbed.

As embedded finance providers race to move beyond standalone debit cards, Marqeta’s latest earnings on May 5 showed how card issuing platforms are being asked to support a broader mix of lending, buy now, pay later (BNPL) and credit-building products on a global scale.

CEO Mike Milotich said on the company’s earnings call that “multinational card issuers are becoming more and more common as card growth shifts from local banks to FinTechs and enterprises looking to support their customers in many geographies.”

Milotich added that embedded finance providers are looking for “an integrated continuum of products that span debit and credit,” allowing them to serve consumers and small businesses through different stages of their financial lives.

The comments came as Marqeta reported first-quarter total processing volume (TPV) growth of 33% year over year to $112 billion, with lending and BNPL activity remaining among the company’s fastest-growing categories.

Milotich repeatedly emphasized during the call that the market for card issuing is changing from a world centered on either debit or revolving credit into one where issuers want programmable combinations of debit, BNPL, secured credit and installments tied together under a single credential.

“There’s really this continuum where you could start with someone in debit, and then you could start to give them some transaction-based lending,” Milotich said during the analyst Q&A. “With the Flexible Credential, now you could do that on the same card.”

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Card Programs Expand Executives pointed to multinational expansion as another major driver of growth for card issuing programs.

Milotich said 12 of Marqeta’s top 15 customers now use its platform in more than one country, while six customers operate across at least five countries.

Analysts pressed management on whether demand for secured credit and flexible credential programs is broadening across the industry.

“We’re seeing more and more demand,” Milotich said. “If you’re a FinTech or you’re an embedded finance company, you want to be able to serve the entire spectrum of your customer base.”

The company also discussed emerging stablecoin-linked card programs, which management said could allow consumers to spend local fiat currencies from stablecoin balances through traditional card credentials. Larger financial institutions are beginning to explore modernization efforts using virtual card and embedded lending capabilities without fully replacing existing infrastructure.

Profitability Milestone CFO Patti Kangwankij said the company’s financial results reflected both continued growth in lending programs and tighter operational discipline.

“Most notably, we achieved GAAP profitability in the quarter with net income of $8 million,” she said.

Kangwankij said lending, including BNPL, continued growing at “nearly 60%” year over year, while expense management volumes remained above 40% growth.

Executives also said non-Block processing volumes continue to grow more than twice as fast as Block-related volumes, helping diversify Marqeta’s customer concentration.

Despite concerns about consumer spending and macroeconomic conditions, management said it has not yet seen major changes.

“We are not currently seeing any notable shift in spend or consumer behavior,” Kangwankij said while reiterating the company’s full-year revenue and gross profit guidance. Shares were down 3% in after hours trading on Tuesday.

-

OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, Inc. (NASDAQ: MQ), the modern card issuing platform, today announced the appointment of Lukasz Strozek as the Company’s Chief Technology Officer, effective May 18, 2026. Mr. Strozek will lead the company’s global technology and engineering functions.

Mr. Strozek is a technology executive with 20 years of experience leading engineering organizations across early-stage, growth, and public companies in regulated financial services. He will join Marqeta from LendingClub Corp., where he served as CTO responsible for the engineering, product, and data organizations. Prior to that, Mr. Strozek was CTO of Hippo Insurance, where he led the software engineering, data engineering, and product management teams across multiple business lines. Earlier he held engineering and product leadership roles at Bridgewater Associates, Bolt Financial, and at SoFi following its 2018 acquisition of Clara Lending, a digital mortgage platform he co-founded.

“Lukasz brings deep technical expertise and a proven track record of scaling products and building high-performing engineering organizations, and we are thrilled to welcome him to the team,” said Mike Milotich, CEO of Marqeta. “His leadership will be instrumental in advancing our global technology roadmap and accelerating innovation to deliver solutions that expand payment possibilities for our customers.”

“With a clear focus on enabling payments innovation, Marqeta has built a strong technology foundation and a modern card issuing platform designed for scale,” said Mr. Strozek. “I’m excited to work with this talented team to deliver next-generation capabilities that help customers solve complex challenges and advance meaningful business outcomes. I look forward to driving continued success and helping build the company’s next chapter.”

About Marqeta

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $400 billion in annual payments volume in 2025. Marqeta is certified to operate in more than 40 countries worldwide. Visit www.marqeta.com to learn more.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to our CTO search process, growth, value creation, technology, business and strategy. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: challenges with our CTO search process; any factors creating issues with changes in domestic and international business, technology, market, financial, political and legal conditions; and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta’s Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

More News From Marqeta, Inc.

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Marqeta, Inc. (MQ) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript

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Card-issuing platform Marqeta is teaming up with Banking Circle to expand in Europe, according to a Tuesday (May 26) press release.

The collaboration is designed to bring Marqeta’s account and money movement tools to 30 new European countries, the release said.

“Europe represents one of our most important growth markets, and bringing these tools to multinational and regional businesses enables them to build the innovative payment experiences that are crucial to their success,” Interim Chief Product Officer Anthony Peculic said in the release. “By providing a single platform for card issuing, account and money movement, and program management, we’re enabling our customers to launch and scale the card programs their customers rely on with greater simplicity, flexibility and efficiency.”

The expanded offering is designed to help European businesses enhance their card programs through embedded virtual accounts and multi-rail payment capabilities to create more personalized experiences and greater customer engagement, according to the release.

The expansion comes as the company sees “strong momentum” in Europe, highlighted by an eight-fold growth in total processing volume (TPV) for its European card programs from 2022 to 2025, along with its acquisition of TransactPay last year, the release said.

The company earlier this month reported earnings that showed first-quarter TPV growth of 33% year over year to $112 billion, with lending and buy now, pay later activity remaining among Marqeta’s fastest-growing categories.

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Meanwhile, the PYMNTS Intelligence data brief “FinTechs Tap Embedded Payments to Deepen Customer Relationships,” a collaboration with Marqeta, found that FinTechs are increasingly offering at least one embedded finance feature.

Widespread adoption reflects confidence in the model, but it also exposes companies to a new set of operational and risk-related pressures that become more pronounced as capabilities multiply.

“Nearly 9 in 10 FinTechs use embedded finance to improve customer experiences, while 60% say it enhances trust with users,” PYMNTS reported March 3, based on the brief.

More than half reported reduced churn or higher revenues, and a similar share cited operational efficiencies.

“Embedded payments often serve as an entry point, anchoring broader financial relationships that include lending, payouts and wallets,” the report said. “In that role, embedded finance can act as a stabilizing force for customers, supporting continued spending and access to credit within familiar digital environments.”

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.

OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, Inc. (NASDAQ: MQ), the modern card issuing platform, today released its 2026 State of Credit Report. Based on a survey of 4,000 consumers and 1,000 small and medium-sized businesses (SMBs) in the US and UK, the report reveals that static, single-product credit programs no longer match how consumers and businesses actually manage their finances, creating a significant opportunity for providers who build for the full credit journey.

A Patchwork of Credit Providers

Consumers and SMBs are using multiple products across different providers, and switching between them based on specific needs for each purchase rather than dissatisfaction with the product itself.

66% of consumers surveyed own a credit card, and 57% of those carry more than one, a figure that rises to 64% among US consumers and 50% among UK consumers surveyed. 85% of consumers surveyed consider multiple factors before deciding which payment method to use for a given transaction, and 59% have used both debit and credit within the past 90 days, switching based on purchase type, current financial situation, or preference. 96% of SMBs are intentional about which payment method they use for a given transaction, switching between them three to 10 times per month. BNPL and Flexible Credentials Gain Momentum

BNPL is complementing credit, not replacing it. 79% of BNPL users continue to use it even when they have credit card access, and among consumers without a credit card, 23% turn to BNPL when they can't pay in full, using it to finance purchases without taking on revolving debt. The demand for flexibility is also showing up in the appetite for flexible credentials: single cards that can switch between debit, credit, and BNPL at the point of purchase.

48% of consumers aged 18-44 surveyed express interest in flexible credentials, rising to 71% among consumers who already carry multiple cards. Among consumers interested in flexible credentials, 67% of respondents say it would replace their current debit card and 71% their current credit card, suggesting consumers see it as a replacement for the cards they already carry, not just another product to add to their wallet. Among SMBs surveyed that are planning to apply for a credit card in the next 12 months, 82% are interested in flexible credentials and 89% cite interest in flexible repayment terms. “Credit is no longer a single product consumers and SMBs either have or don’t have. It’s become a portfolio of tools they are assembling themselves, often from multiple providers, because most providers don’t offer the full range of products they need,” said Todd Pollak, Chief Revenue Officer, Marqeta. “Marqeta enables our customers to meet this challenge head-on, offering credit, debit, and flexible credentials from a single platform – reducing friction, protecting the brand experience, and serving consumers and SMBs throughout their credit journey.”

Keeping Customers Through Credit Transitions

Customers move between credit products for many reasons: a denied application, an improved credit score, a business crossing a revenue threshold, a change in life circumstances. The report finds that most providers aren't prepared to keep customers during these transitions, but there are new flexible product offerings that can help keep customers when their credit needs change.

63% of denied credit card applicants surveyed were never offered an alternative product, even though 60% would have been interested in a product that helps them build credit. 76% of denied credit card applicants surveyed would undergo a credit check to upgrade to revolving credit when their profile is ready. Additionally, co-brand debit with BNPL serves a second underserved group: consumers who want a branded product but can’t or don’t want to engage with traditional revolving credit.

33% of consumers surveyed express interest in co-brand debit cards, rising to 41% among consumers aged 18-44. When BNPL is paired with the right incentive package, 65% of previously neutral and 35% of previously uninterested consumers move into consideration. Non-Bank Providers Have an Opening

The report shows growing comfort and trust in non-bank providers, clearing the way for them to compete directly for credit customers.

53% of consumers surveyed trust established fintechs for financial services, 47% trust large retailers, 45% trust BNPL providers, and 33% trust technology platforms. 66% of SMBs surveyed are comfortable using financial services from non-banks, rising to 83% among SMBs planning to apply for a credit card in the next 12 months. Consumers interested in flexible credentials are more comfortable with non-banks (52%) than those who aren’t interested (25%), demonstrating the highest-demand segment is also the most open to alternative providers. “The biggest gap in SMB financial services isn't product availability. It's that most products don't evolve as the business does,” continued Pollak. “SMBs outgrow their first credit card as their business evolves and expands, meaning suddenly the tools they have don't fit anymore. That's the problem Marqeta is focused on solving. We give platforms the infrastructure to meet SMBs where they are, and grow with them from there."

Marqeta's platform powers credit, debit and flexible credentials from a single instance, enabling real-time underwriting decisions designed to help reduce unnecessary declines and protect brand relationships. From co-brand programs and credit builder products to the graduation paths between them, Marqeta is designed to give issuers the tools to grow with customers as their credit needs evolve.

About the research

Marqeta’s 2026 State of Credit Report was conducted on behalf of Marqeta in Q1 2026. Marqeta surveyed 4,000 consumers and 1,000 small and medium-sized businesses across the United States and United Kingdom. The report also covers graduation path design, alternative underwriting data, the personal-business credit blur among SMBs, and what the research ultimately means for providers launching new credit programs. Download the full report here.

About Marqeta

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $400 billion in annual payments volume in 2025. Marqeta is certified to operate in more than 40 countries worldwide. Visit www.marqeta.com to learn more.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta’s Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

More News From Marqeta, Inc.

, /PRNewswire/ -- Sabre Corporation ("Sabre") (NASDAQ: SABR) will host a live webcast of its first quarter 2026 earnings conference call on May 7, 2026 at 9:00 a.m. ET. Management will discuss the financial results, as well as comment on the forward outlook. The webcast is expected to last approximately one hour and will be accessible by visiting the Investor Relations section of Sabre's website at investors.sabre.com. A replay of the event will be available on the website for at least 90 days following the event.

About Sabre

Powering the agentic revolution in travel. Sabre is an AI-native technology leader, backed by one of the world's largest travel data clouds. With AI at its core and operating at unparalleled scale, Sabre transforms insights into innovation, empowering airlines, hoteliers, agencies and other partners to retail, distribute and fulfill travel worldwide. Sabre is built on an open, modular, cloud-native architecture and serves as the backbone for both established leaders and bold, new disruptors, guiding them to the next age of travel retailing through intelligent, connected, and personalized experiences. For more information visit www.sabre.com. 

Website Information 

We routinely post important information for investors on the Investor Relations section of our website, investors.sabre.com, on our LinkedIn account, and on our X account, @Sabre_Corp. We intend to use the Investor Relations section of our website, our LinkedIn account, and our X account as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website, our LinkedIn account, and our X account, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website, our LinkedIn account, or our X account is not incorporated by reference into, and is not a part of, this document.

SABR-F

Contacts

Media
Cassidy Smith-Broyles                                                       
[email protected]                                         
[email protected]                                   

Investors
Jim Mathias
[email protected]
[email protected]       

SOURCE Sabre Corporation

, /PRNewswire/ -- Sabre Corporation ("Sabre") (NASDAQ: SABR) today announced financial results for the quarter ended March 31, 2026. Sabre has posted its first quarter 2026 earnings release and earnings presentation to its Investor Relations webpage at investors.sabre.com/financial-information/quarterly results. The earnings release is also available on the Securities and Exchange Commission's website at www.sec.gov.

As previously announced, Sabre will host a live webcast of its first quarter 2026 earnings conference call today at 9:00 a.m. ET. Management will discuss the financial results, as well as comment on the forward outlook. The webcast is expected to last approximately one hour and will be accessible by visiting the Investor Relations section of Sabre's website at investors.sabre.com.

A replay of the event will be available on the website for at least 90 days following the event.

About Sabre 
Powering the agentic revolution in travel. Sabre is an AI-native technology leader, backed by one of the world's largest travel data clouds. With AI at its core and operating at unparalleled scale, Sabre transforms insights into innovation, empowering airlines, hoteliers, agencies and other partners to retail, distribute and fulfill travel worldwide. Sabre is built on an open, modular, cloud-native architecture and serves as the backbone for both established leaders and bold, new disruptors, guiding them to the next age of travel retailing through intelligent, connected, and personalized experiences. For more information visit www.sabre.com.

Website Information
Sabre routinely posts important information for investors on the Investor Relations section of its website, investors.sabre.com, on its LinkedIn account, and on its X account, @Sabre_Corp. The Company intends to use the Investor Relations section of its website, its LinkedIn account, and its X account as a means of disclosing material, non-public information and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of Sabre's website, its LinkedIn account and its X account, in addition to following its press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, Sabre's website, its LinkedIn account or its X account is not incorporated by reference into, and is not a part of, this document.

SABR-F

Contacts

Media                                                               
Cassidy Smith-Broyles                                                       
cassidy[email protected]                                         
[email protected]                                   

Investors
Jim Mathias
[email protected]
[email protected]

SOURCE Sabre Corporation

Key Takeaways SABR posted Q1 adjusted EPS of 6 cents, beating estimates for a 5 cent loss.Sabre revenues rose 8% to $760.3M on higher air bookings and favorable rates.SABR expects 2026 pro-forma revenue growth in the low-to-mid-single-digit range. Sabre Corporation (SABR - Free Report) shares were trading 22% higher during the pre-market session today after the company reported better-than-expected results for the first quarter of 2026. SABR reported adjusted earnings of 6 cents per share for the first quarter, while the Zacks Consensus Estimate was pegged at a loss of 5 cents. The bottom-line results also compared favorably with the year-ago quarter’s earnings of a penny.

Sabre reported revenues of $760.3 million for the quarter ended March 31, 2026, which beat the Zacks Consensus Estimate of $737.3 million. The figure rose 8% year over year on higher air bookings and increased rates.

Sabre’s Q1 in DetailMarketplace segment revenues rose 9% to $618 million, driven by an increase in transaction-based revenues, primarily due to a surge in distribution bookings and a favorable rate impact. The Airline Technology segment’s revenues grew 7% year over year to $142 million, driven primarily by revenues that were previously deferred being recognized.

Sabre reported normalized adjusted EBITDA of $169 million, which improved 21% from the year-ago quarter’s $140 million. It also surpassed management’s previous guidance of $130 million. The normalized adjusted EBITDA margin improved 230 basis points year over year to 22.2% in the first quarter of 2026.

Sabre’s Balance Sheet and Cash FlowSabre exited the March-end quarter with cash, cash equivalents and restricted cash of $665 million compared with the previous quarter’s $910 million. At the end of the first quarter, the company had net debt (total debt, less cash and cash equivalents) of approximately $3.8 billion.

During the first quarter, the company used cash of $134.2 million for operating activities and had a negative free cash flow of $155.4 million.

Sabre Updates Guidance for FY26For 2026, Sabre now expects its pro-forma (which excludes the last year’s divested Hospitality Solutions business) revenues to grow in the low-to-mid-single-digit percentage range, instead of the earlier projection of a mid-single-digit percentage range. Pro-forma adjusted EBITDA is still projected to be approximately $585 million. The company still expects to end 2026 with a negative pro-forma free cash flow of approximately $70 million.

Sabre initiated guidance for the second quarter. SABR anticipates pro-forma revenue growth in the flat-to-nominal range. It expects pro-forma adjusted EBITDA to be around $130 million.

Sabre’s Zacks Rank and Stocks to ConsiderCurrently, SABR carries a Zacks Rank #3 (Hold).

Some better-ranked stocks worth considering in the broader Zacks Computer and Technology sector are Micron Technology (MU - Free Report) , Broadcom (AVGO - Free Report) and NVIDIA (NVDA - Free Report) . Micron Technology sports a Zacks Rank #1 (Strong Buy) at present, while Broadcom and NVIDIA each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Micron Technology’s fiscal 2026 earnings has been revised upward by a penny to $58.37 per share in the past 30 days, suggesting an increase of 604.1% from fiscal 2025’s reported figure. Micron Technology shares have surged 131.6% year to date (YTD).

The Zacks Consensus Estimate for Broadcom’s fiscal 2026 earnings has moved northward by 9 cents to $11.45 per share over the past 30 days and calls for a year-over-year jump of 67.9%. Broadcom shares have soared 22.8% YTD.

The Zacks Consensus Estimate for NVIDIA’s fiscal 2027 earnings has moved upward by 4 cents to $8.07 per share in the past 30 days, implying a year-over-year improvement of approximately 69.2%. NVIDIA shares have risen 11.1% YTD.

Sabre is rated a speculative buy, with Q1 '26 results showing EBITDA growth of 21% and Payment Suite revenue up 25%. SABR trades at roughly 8x EV/EBITDA, with a credible path to deleveraging if EBITDA continues to grow and interest expense declines. Constellation Software's 12.7% stake and board involvement provide strong external validation of SABR's strategic positioning.

2 hours ago

MSA Safety Incorporporated (NYSE:MSA) CFO Acquires $71,093.12 in StockMarketBeat

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) CFO Julie Beck bought 448 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $158.69 per share, with a total value of $71,093.12. Following the completion of the purchase, the chief financial officer owned 3,825 shares of the company's stock, valued at $606,989.25. This represents a 13.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

NYSE:MSA

Read MSA Safety Incorporporated (NYSE:MSA) CFO Acquires $71,093.12 in Stock

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Insider Selling: NBT Bancorp (NASDAQ:NBTB) Director Sells 2,100 Shares of StockMarketBeat

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) Director Heidi Hoeller sold 2,100 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the transaction, the director owned 11,560 shares of the company's stock, valued at approximately $555,226.80. This represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ:NBTB

Read Insider Selling: NBT Bancorp (NASDAQ:NBTB) Director Sells 2,100 Shares of Stock

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Douglas Milne Sells 1,600 Shares of IGM Financial (TSE:IGM) StockMarketBeat

IGM Financial Inc. (TSE:IGM - Get Free Report) Director Douglas Milne sold 1,600 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of C$80.61, for a total value of C$128,976.00. Following the sale, the director directly owned 800 shares in the company, valued at C$64,488. The trade was a 66.67% decrease in their ownership of the stock.

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GlobalFoundries (NASDAQ:GFS) Insider Michael James Hogan Sells 2,800 SharesMarketBeat

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) insider Michael James Hogan sold 2,800 shares of GlobalFoundries stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $75.17, for a total value of $210,476.00. Following the transaction, the insider owned 6,695 shares in the company, valued at $503,263.15. This trade represents a 29.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NASDAQ:GFS

Read GlobalFoundries (NASDAQ:GFS) Insider Michael James Hogan Sells 2,800 Shares

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, /PRNewswire/ -- Sabre Corporation ("Sabre") (NASDAQ: SABR) today announced that Kurt Ekert, President and CEO, and Mike Randolfi, CFO, will be participating at an upcoming investor conference. Details for the event are as follows:

2026 Bank of America Technology, Media & Telecom Conference
Wednesday, June 10
Fireside chat at 10:40 a.m. ET A live webcast of the event will be available on Sabre's Investor Relations website at investors.sabre.com. A replay of the event will be available on the website shortly after the conclusion of each presentation and for at least 90 days following each event.

About Sabre 

Powering the agentic revolution in travel. Sabre is an AI-native technology leader, backed by one of the world's largest travel data clouds. With AI at its core and operating at unparalleled scale, Sabre transforms insights into innovation, empowering airlines, hoteliers, agencies and other partners to retail, distribute and fulfill travel worldwide. Sabre is built on an open, modular, cloud-native architecture and serves as the backbone for both established leaders and bold, new disruptors, guiding them to the next age of travel retailing through intelligent, connected, and personalized experiences. For more information visit www.sabre.com.

Website Information

Sabre routinely posts important information for investors on the Investor Relations section of its website, investors.sabre.com, on its LinkedIn account, and on its X account, @Sabre_Corp. The Company intends to use the Investor Relations section of its website, its LinkedIn account, and its X account as a means of disclosing material, non-public information and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of Sabre's website, its LinkedIn account and its X account, in addition to following its press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, Sabre's website, its LinkedIn account or its X account is not incorporated by reference into, and is not a part of, this document.

To automatically receive Sabre financial news by email, please visit our Investor Relations website at investors.sabre.com and subscribe to Email Alerts.

SABR-F

Contacts

Media
Cassidy Smith-Broyles
[email protected]
[email protected] 

Investors
Jim Mathias
[email protected]
[email protected] 

SOURCE Sabre Corporation

On April 13, 2026, Universal Display Corp OLED shares rose 3.4%, trading at $100.52. The stock has had a mixed performance recently, with a 52-week range between $86.43 and $163.21.

GF Value™ verdict: Current price at $100.52 is 37.1% below the GF Value™ estimate of $159.91. GF Score™: 87/100, indicating strong overall performance. Most notable signal: Financial Strength rated 9/10, reflecting a robust balance sheet. Is OLED Overvalued or Undervalued? The current price of Universal Display Corp OLED at $100.52 is significantly lower than the GF Value™ estimate of $159.91, suggesting that the stock is undervalued by approximately 37.1%. This margin of safety presents a compelling opportunity for those looking to invest in a company with strong fundamentals. The GF Valuation label indicates that OLED is significantly undervalued, which means that the stock could potentially appreciate as the market recognizes its intrinsic value.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. While the undervaluation indicates potential, investors should consider market conditions and future earnings growth, which could impact the stock's performance.

How Does OLED's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 19.8x 33.8x Forward P/E 20.0x N/A Currently, OLED's P/E (TTM) of 19.8x is 41% below its 5-year median P/E of 33.8x, indicating that the stock is trading well below its historical valuation levels. This P/E analysis aligns with the GF Value™ verdict, reinforcing the view that OLED is undervalued in the market relative to its historical performance.

What Does OLED's GF Score™ Tell Us? Metric Rating GF Score™ 87 Financial Strength 9/10 Profitability 9/10 Growth 8/10 Valuation 4/10 Momentum 4/10 Universal Display Corp's GF Score™ of 87/100 indicates strong potential for long-term returns, supported by high scores in Financial Strength (9/10) and Profitability (9/10). The Growth Rank of 8/10 is also commendable, suggesting that the company has solid growth prospects. However, the lower Valuation (4/10) and Momentum (4/10) ranks highlight areas of concern, particularly in terms of market perception and stock performance over recent periods.

What Are Insiders Doing with OLED Stock? There have been no insider transactions reported for Universal Display Corp in the last three months. This lack of insider activity may suggest that insiders have not seen a compelling reason to buy or sell shares recently, which could indicate confidence in the current valuation or a wait-and-see approach regarding future developments.

What This Means for Investors Based on the GF Value™ assessment, Universal Display Corp OLED appears to be undervalued at its current price of $100.52 compared to the intrinsic value estimate of $159.91. The significant undervaluation suggests a potential opportunity for long-term investment, provided that the company can maintain its strong fundamentals and navigate market challenges effectively.

For the complete analysis, visit the Universal Display Corp OLED 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 OLED's GF Score™?

OLED's GF Score™ is 87/100, indicating a strong overall performance and potential for long-term returns.

Is OLED overvalued or undervalued?

OLED is currently undervalued, with a GF Value™ estimate of $159.91 compared to the current price of $100.52.

What is OLED's P/E ratio?

OLED's P/E (TTM) is 19.8x, which is significantly below its 5-year median P/E of 33.8x, indicating the stock is trading at a lower valuation compared to its historical levels.

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].

Universal Display Corp. (OLED - Free Report) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 30. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis organic light-emitting diode technology company is expected to post quarterly earnings of $1.13 per share in its upcoming report, which represents a year-over-year change of -16.3%.

Revenues are expected to be $155.62 million, down 6.4% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 3.94% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Universal Display?For Universal Display, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -7.76%.

On the other hand, the stock currently carries a Zacks Rank of #5.

So, this combination makes it difficult to conclusively predict that Universal Display will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Universal Display would post earnings of $1.28 per share when it actually produced earnings of $1.39, delivering a surprise of +8.59%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Universal Display doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (Nasdaq: OLED), a global leader in energy-efficient OLED technologies and materials, today reported financial results for the first quarter ended March 31, 2026.

"We continue to see the OLED market as a compelling long-term growth opportunity, supported by expanding adoption, evolving architectures, and continued industry investment,” said Brian Millard, Chief Financial Officer of Universal Display Corporation. “While near-term market conditions have become more measured, we remain focused on execution and long-term value creation. That focus is supported by our deep and long-standing customer partnerships and continued innovation across our materials and technology platforms, which positions us well as the industry enters its next phase of growth, including Gen 8.6 capacity additions in Korea and China expected to come online this year. As this growth unfolds, OLED performance requirements continue to rise and architectures evolve, further increasing the importance of materials innovation. We continue to invest in our technology leadership, while leveraging our strong balance sheet and cash flow generation to support future growth and return capital to shareholders in a disciplined manner."

Financial Highlights for the First Quarter of 2026

Total revenue in the first quarter of 2026 was $142.2 million as compared to $166.3 million in the first quarter of 2025. Revenue from material sales was $83.7 million in the first quarter of 2026 as compared to $86.2 million in the first quarter of 2025. The decrease was primarily due to changes in customer mix and lower unit material volume. Revenue from royalty and license fees was $54.2 million in the first quarter of 2026 as compared to $73.6 million in the first quarter of 2025. The decrease was primarily the result of changes in customer mix and lower unit material volume. While customer mix can vary quarter to quarter, we expect the customer mix in subsequent periods of 2026 to have a more favorable impact on royalty and license fees as compared to the first quarter of the year. Cost of material sales was $33.0 million in the first quarter of 2026 as compared to $33.9 million in the first quarter of 2025. Total gross margin was 75% in the first quarter of 2026 as compared to 77% in the first quarter of 2025. Operating income was $42.8 million in the first quarter of 2026 as compared to $69.7 million in the first quarter of 2025. The effective income tax rate was 20.7% in the first quarter of 2026 as compared to 19.6% in the first quarter of 2025. Net income was $35.9 million or $0.76 per diluted share in the first quarter of 2026 as compared to $64.4 million or $1.35 per diluted share in the first quarter of 2025. Revenue Comparison

($ in thousands)

Three Months Ended March 31,

2026

2025

Material sales

$

83,749

$

86,155

Royalty and license fees

54,210

73,569

Contract research services

4,252

6,553

Total revenue

$

142,211

$

166,277

Cost of Materials Comparison

($ in thousands)

Three Months Ended March 31,

2026

2025

Material sales

$

83,749

$

86,155

Cost of material sales

33,017

33,949

Gross margin on material sales

50,732

52,206

Gross margin as a % of material sales

61

%

61

%

Revised 2026 Guidance

The Company now believes that its 2026 revenue will be in the range of $630 million to $670 million, down from prior guidance of $650 million to $700 million. The OLED industry remains at a stage where many variables can have a material impact on results, and the Company thus caveats its financial guidance accordingly.

Dividend

The Company also announced a second quarter 2026 cash dividend of $0.50 per share on the Company’s common stock. The cash dividend is payable on June 30, 2026 to all shareholders of record as of the close of business on June 16, 2026.

Share Repurchases

The Company repurchased 632,673 shares of common stock for $66.4 million during the three months ended March 31, 2026. During the same period, and inclusive of such purchases, the Company completed the share repurchase program authorized in April 2025, repurchasing a total of 923,883 shares of its common stock for an aggregate purchase price of $100 million.

On April 28, 2026, the Company's Board of Directors authorized management to repurchase up to an additional $400 million of the Company's common stock.

Conference Call Information

In conjunction with this release, Universal Display will host a conference call on Thursday, April 30, 2026 at 5:00 p.m. Eastern Time. The live webcast of the conference call can be accessed under the events page of the Company's Investor Relations website at ir.oled.com. Those wishing to participate in the live call should dial 1-877-524-8416 (toll-free) or 1-412-902-1028. Please dial in 5-10 minutes prior to the scheduled conference call time. An online archive of the webcast will be available within two hours of the conclusion of the call.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 7,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other Company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2025. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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UNIVERSAL DISPLAY CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(in thousands, except share and per share data)

  March 31, 2026

December 31, 2025

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

159,352

$

138,353

Short-term investments

357,056

464,004

Accounts receivable

93,629

119,953

Inventory

248,213

240,912

Other current assets

74,028

123,836

Total current assets

932,278

1,087,058

PROPERTY AND EQUIPMENT, net of accumulated depreciation of $196,869 and $189,326

213,146

214,947

ACQUIRED TECHNOLOGY, net of accumulated amortization of $225,627 and $220,392

101,548

56,783

OTHER INTANGIBLE ASSETS, net of accumulated amortization of $13,622 and $13,269

3,666

4,019

GOODWILL

15,535

15,535

INVESTMENTS

419,673

377,034

DEFERRED INCOME TAXES

79,455

79,454

OTHER ASSETS

129,415

128,932

TOTAL ASSETS

$

1,894,716

$

1,963,762

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Accounts payable

$

17,037

$

23,344

Accrued expenses

40,389

52,564

Deferred revenue

21,038

21,011

Other current liabilities

19,300

11,094

Total current liabilities

97,764

108,013

DEFERRED REVENUE

1,728

1,943

RETIREMENT PLAN BENEFIT LIABILITY

56,911

56,541

OTHER LIABILITIES

34,333

36,246

Total liabilities

190,736

202,743

SHAREHOLDERS’ EQUITY:

Preferred Stock, par value $0.01 per share, 5,000,000 shares authorized, 200,000 shares of Series A Nonconvertible Preferred Stock issued and outstanding (liquidation value of $7.50 per share or $1,500)

2

2

Common Stock, par value $0.01 per share, 200,000,000 shares authorized, 49,039,974 and 48,916,606 shares issued, and 46,750,443 and 47,259,748 shares outstanding, at March 31, 2026 and December 31, 2025, respectively

490

489

Additional paid-in capital

745,385

744,692

Retained earnings

1,102,489

1,090,479

Accumulated other comprehensive (loss) income

(2,567

)

781

Treasury stock, at cost (2,289,531 and 1,656,858 shares at March 31, 2026 and December 31, 2025)

(141,819

)

(75,424

)

Total shareholders’ equity

1,703,980

1,761,019

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$

1,894,716

$

1,963,762

UNIVERSAL DISPLAY CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)

(in thousands, except share and per share data)

  Three Months Ended March 31,

2026

2025

REVENUE:

Material sales

$

83,749

$

86,155

Royalty and license fees

54,210

73,569

Contract research services

4,252

6,553

Total revenue

142,211

166,277

COST OF SALES

36,121

38,134

Gross margin

106,090

128,143

OPERATING EXPENSES:

Research and development

35,246

34,900

Selling, general and administrative

20,032

17,014

Amortization of acquired technology and other intangible assets

5,588

4,545

Patent costs

2,369

1,906

Royalty and license expense

104

114

Total operating expenses

63,339

58,479

OPERATING INCOME

42,751

69,664

Interest income, net

8,715

10,074

Other (loss) income, net

(6,173

)

378

Interest and other income, net

2,542

10,452

INCOME BEFORE INCOME TAXES

45,293

80,116

INCOME TAX EXPENSE

(9,397

)

(15,672

)

NET INCOME

$

35,896

$

64,444

NET INCOME PER COMMON SHARE:

BASIC

$

0.76

$

1.35

DILUTED

$

0.76

$

1.35

WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE:

BASIC

47,078,940

47,567,295

DILUTED

47,205,952

47,689,657

CASH DIVIDENDS DECLARED PER COMMON SHARE

$

0.50

$

0.45

UNIVERSAL DISPLAY CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

(in thousands)

  Three Months Ended March 31,

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$

35,896

$

64,444

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

7,563

6,548

Amortization of intangibles

5,588

4,545

Investment losses (gains), net

2,086

(1,471

)

Impairment of minority investments

415

—

Stock-based compensation

7,554

7,076

Deferred income tax expense (benefit)

3

(3,091

)

Retirement plan expense, net of benefit payments

375

423

Decrease (increase) in assets:

Accounts receivable

26,324

(25,915

)

Inventory

(7,301

)

(14,460

)

Other current assets

39,808

400

Other assets

(483

)

(2,568

)

Increase (decrease) in liabilities:

Accounts payable and accrued expenses

(15,362

)

(13,408

)

Other current liabilities

8,291

16,867

Deferred revenue

(188

)

(8,491

)

Other liabilities

(1,693

)

(337

)

Net cash provided by operating activities

108,876

30,562

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property and equipment

(8,605

)

(13,059

)

Purchase of intangibles

(40,000

)

—

Purchases of investments

(116,009

)

(38,772

)

Proceeds from sale and maturity of investments

174,483

110,000

Net cash provided by investing activities

9,869

58,169

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from issuance of common stock

578

579

Repurchases of common stock

(67,119

)

—

Payment of withholding taxes related to stock-based compensation to employees

(7,738

)

(9,398

)

Cash dividends paid

(23,467

)

(21,419

)

Net cash used in financing activities

(97,746

)

(30,238

)

INCREASE IN CASH AND CASH EQUIVALENTS

20,999

58,493

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

138,353

98,980

CASH AND CASH EQUIVALENTS, END OF PERIOD

$

159,352

$

157,473

SUPPLEMENTAL DISCLOSURES:

Unrealized (loss) gain on available-for-sale securities

$

(3,334

)

$

1,320

Common stock issued to Board of Directors and Scientific Advisory Board that was earned and accrued for in a previous period

300

300

Accrued dividends included in other current liabilities and other liabilities

419

124

Net change in accounts payable and accrued expenses related to purchases of property and equipment

2,843

5,487

Cash paid for income taxes, net of refunds

38,376

2,266

Universal Display Corp. (OLED - Free Report) came out with quarterly earnings of $0.76 per share, missing the Zacks Consensus Estimate of $1.13 per share. This compares to earnings of $1.35 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -32.59%. A quarter ago, it was expected that this organic light-emitting diode technology company would post earnings of $1.28 per share when it actually produced earnings of $1.39, delivering a surprise of +8.59%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Universal Display, which belongs to the Zacks Electronics - Miscellaneous Components industry, posted revenues of $142.21 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 8.62%. This compares to year-ago revenues of $166.28 million. The company has topped consensus revenue estimates just once over the last four quarters.

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

Universal Display shares have lost about 23.3% since the beginning of the year versus the S&P 500's gain of 4.2%.

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

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

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

Ahead of this earnings release, the estimate revisions trend for Universal Display was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.13 on $164.29 million in revenues for the coming quarter and $4.82 on $675.4 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Miscellaneous Components is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Allient (ALNT - Free Report) , is yet to report results for the quarter ended March 2026.

This motion control product maker is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents a year-over-year change of +19.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Allient's revenues are expected to be $139.83 million, up 5.3% from the year-ago quarter.

Universal Display Corporation (OLED) Q1 2026 Earnings Call Transcript

Key Takeaways OLED Q1 EPS plunged 43.7% and revenues fell 14.5%, both missing expectations.Universal Display saw declines across materials, royalties and research revenue streams.OLED cut 2026 revenue outlook to $630M-$670M due to weak demand and macro pressures. Universal Display Corporation (OLED - Free Report) reported first-quarter 2026 earnings of 76 cents per share, down 43.7% year over year and missing the Zacks Consensus Estimate of $1.13 by 32.7%. Revenues of $142.2 million declined 14.5% year over year and missed the consensus mark of $156 million by 8.6%.

The downside was primarily driven by softer demand conditions, unfavorable customer mix and lower material volumes. Royalty and licensing revenues were notably pressured, reflecting mix shifts and reduced unit activity.

OLED Revenues Decline Across Key StreamsOLED generated total revenues of $142.2 million, down from $166.3 million in the year-ago quarter. The decline was broad-based across its major revenue components.

Material sales slipped 2.8% year over year to $83.7 million, reflecting lower unit volumes and customer mix changes. Meanwhile, royalty and license fees dropped sharply by 26.3% to $54.2 million, driven primarily by shifts in customer purchasing patterns and reduced licensing activity.

Contract research services revenues also declined to $4.3 million from $6.6 million in the prior-year quarter. The overall revenue mix reflected a material-to-license ratio of roughly 1.5:1 during the period, influenced by customer ordering patterns.

Universal Display Margins Contract on Mix, CostsGross margin narrowed to 75% from 77% in the year-ago quarter, reflecting higher input costs and unfavorable product mix. Cost of sales declined modestly to $36.1 million, but did not offset revenue pressure.

Operating expenses increased to $63.3 million from $58.5 million a year earlier, driven by higher selling, general and administrative expenses and increased amortization.

As a result, operating income declined significantly to $42.8 million from $69.7 million, with operating margin contracting to about 30% from roughly 42% in the prior-year period.

OLED Profitability Impacted by Non-Operating ItemsNet income fell to $35.9 million from $64.4 million in the prior-year quarter. The decline reflects lower operating income and unfavorable non-operating items.

The company reported non-operating losses driven by foreign exchange impacts and investment-related losses, including currency fluctuations tied to the Korean won and equity investment write-downs.

The effective tax rate for the quarter was approximately 20.7%, slightly higher than 19.6% in the prior-year period.

Universal Display Cash Flow and Capital AllocationUniversal Display generated a strong operating cash flow of $108.9 million during the quarter, up significantly from $30.6 million in the prior-year period.

The company ended the quarter with $159.4 million in cash and cash equivalents and substantial investment holdings, supporting its liquidity position.

 During the quarter, OLED repurchased approximately 632,673 shares for $66.4 million and completed its prior $100 million buyback authorization. It also declared a quarterly dividend of 50 cents per share and authorized a new $400 million share repurchase program, reflecting continued capital return priorities.

OLED Outlook Reflects Near-Term UncertaintyManagement highlighted a more challenging near-term demand environment, citing macroeconomic pressures, higher component costs and supply constraints affecting visibility across the consumer electronics value chain.

Given these conditions, the company lowered its full-year 2026 revenue guidance to a range of $630 million to $670 million from the prior $650 million to $700 million outlook.

 Despite near-term headwinds, OLED expects sequential improvement in the second quarter and a stronger second half of the year, supported by normalization in customer mix and ongoing OLED adoption across end markets.

OLED’s Zacks RankUpcoming ReleasesArista Networks Inc. (ANET - Free Report) is scheduled to release first-quarter 2026 earnings on May 5. The Zacks Consensus Estimate for earnings is pegged at 81 cents per share, suggesting growth of 24.6% from the year-ago reported figure.

Arista has a long-term earnings growth expectation of 17.9%. Arista delivered an average earnings surprise of 9% in the last four reported quarters.

Akamai Technologies, Inc. (AKAM - Free Report) is slated to release first-quarter 2026 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at $1.61 per share, indicating a 5.3% decline from the year-ago reported figure.

Akamai has a long-term earnings growth expectation of 7%. Akamai delivered an average earnings surprise of 9.4% in the last four reported quarters.

Pinterest, Inc. (PINS - Free Report) is set to release first-quarter 2026 earnings on May 4. The Zacks Consensus Estimate for earnings is pegged at 22 cents per share, implying a fall of 4.3% from the year-ago reported figure.

Pinterest has a long-term earnings growth expectation of 24.5%. Pinterest delivered an average negative earnings surprise of 3.6% in the last four reported quarters.

EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (Nasdaq: OLED), a global leader in energy-efficient OLED technologies and materials, today announced its participation in the following investor and industry conferences:

Investor Conference:

Bank of America Global Technology Conference 2026
Date: June 3, 2026
Location: San Francisco, CA
Company Representative: Brian Millard, Chief Financial Officer

Industry Conferences:

Society for Information Display (SID) Display Week 2026
Date: May 3-8, 2026
Location: Los Angeles, CA
Presenters: Multiple
Learn More: Universal Display Corporation to Present High-Efficiency Blue Paper and Showcase OLED Technology Advancements at SID Display Week 2026

University of Delaware Department of Chemistry Invited Seminar
Date: May 6, 2026
Location: Newark, DE
Presenter: Dr. Charles J. Stanton III, Senior R&D Manager of Chemistry Discovery Research
Presentation Title: Energizing the Next Wave of OLED Growth through Chemistry and Scientific Leadership

International Conference on Electroluminescence and Optoelectronic Devices (ICEL 2026)
Date: May 10, 2026
Location: Namur, Belgium
Presenter: Dr. Michael Fusella, Principal Research Scientist
Presentation Title: Plasmonic OLED: Enabling Next-Generation OLED Displays

Frontiers in Digital Chemistry
Date: June 10, 2026
Location: New York City, NY
Presenter: Dr. George Fitzgerald, Senior Director of Computational Chemistry
Presentation Title: From Algorithms to Illumination: Advancing OLEDs with Molecular Modeling and Machine Learning

TechBlick 2026
Date: June 11, 2026
Location: Mountain View, CA
Presenter: Dr. Mike Hack, Vice President of Business Development
Presentation Title: Universal Vapor Jet Printing (UVJP)—A Transformative Dry, Solvent-Free Printing and Deposition Technology

16th International Conference on Metamaterials, Photonic Crystals and Plasmonics (META 2026)
Date: July 15, 2026
Location: Dublin, Ireland
Presenter: Dr. Haridas Mundoor, Senior Research Scientist
Presentation Title: Plasmonically Powered Organic Light Emitting Devices for Advanced Display Applications

Gordon Research Conference: Heterocyclic Compounds
Date: June 17, 2026
Location: Newport, RI
Presenter: Dr. Alex Dyatkin, Principal Research Scientist
Presentation Title: Phosphorescent OLED Technology: Materials, Device Architectures, and Manufacturing

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 7,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other Company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2025. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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On May 22, 2026, Universal Display Corp OLED shares rose 3.1% to $94.31. The stock has experienced a volatile year, with a 52-week range between $83.64 and $163.21.

GF Value™ verdict: The current price of $94.31 is 38.2% below the GF Value™ estimate of $152.63.GF Score™: With a score of 85/100, OLED is rated as a strong investment opportunity.Notable signal: Insiders have purchased $1.5 million worth of stock in the last three months, indicating confidence in the company's future. Is OLED Overvalued or Undervalued? The current price of Universal Display Corp OLED at $94.31 indicates a significant undervaluation when compared to the GF Value™ estimate of $152.63. This represents a margin of safety of 38.2%, suggesting that the shares may present a compelling opportunity for long-term investors. The classification of "Significantly Undervalued" by GF Valuation indicates that the stock price does not reflect the company's true intrinsic value. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

While the undervaluation points to a potential opportunity, investors should consider the inherent risks associated with market fluctuations and company-specific factors that may impact future profitability. The significant difference between the current market price and the GF Value™ could lead to a correction in either direction, depending on market sentiment and operational performance.

How Does OLED's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 21.1x 33.2x Forward P/E 22.3x N/A Currently, OLED's P/E ratio of 21.1x is substantially below its 5-year median P/E of 33.2x, indicating that the stock is trading at a lower valuation compared to its historical performance. This analysis aligns with the GF Value™ verdict, reinforcing the notion that OLED is currently undervalued relative to its historical valuation metrics.

What Does OLED's GF Score™ Tell Us? Metric Rating GF Score™ 85/100 Financial Strength 8/10 Profitability 9/10 Growth 8/10 Valuation 4/10 Momentum 4/10 OLED's GF Score™ of 85/100 indicates a strong overall position, with particularly high ratings in Profitability (9/10) and Financial Strength (8/10). However, the lower ratings in Valuation (4/10) and Momentum (4/10) suggest that, while the company is financially robust, there may be concerns regarding its current market momentum and valuation compared to historical averages.

What Are Insiders Doing with OLED Stock? Recent insider activity for Universal Display Corp has shown a positive trend, with insiders purchasing a total of $1.5 million worth of shares over the last three months. This buying spree suggests that those closest to the company believe in its future prospects and are willing to invest their own funds. There has been no selling activity reported, further indicating confidence among insiders regarding the company's direction.

What This Means for Investors Based on the analysis of GF Value™, Universal Display Corp OLED is currently considered undervalued. With a significant margin of safety and strong GF Score™, the stock presents potential opportunities for thoughtful investors, despite recent volatility in its price performance.

For the complete analysis, visit the Universal Display Corp OLED 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 OLED's GF Score™?

OLED has a GF Score™ of 85/100, indicating a strong overall investment potential based on key financial metrics and performance indicators.

Is OLED overvalued or undervalued?

OLED is considered undervalued, with a current price of $94.31 sitting 38.2% below the GF Value™ estimate of $152.63.

What is OLED's P/E ratio?

OLED's P/E (TTM) ratio is 21.1x, which is significantly below its 5-year median P/E of 33.2x, indicating a lower valuation compared to its historical performance.

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].

Universal Display Corporation Expands China Presence with Grand Opening of Chengdu OLED Technology and Innovation Center Universal Display Corporation (UDC) (Nasdaq: OLED), a global leader in energy-efficient OLED technologies and materials, today announced the grand opening of its OLED Technology and Innovation Center in Chengdu, China. The opening event brought together company leaders, customers, partners, and local representatives to mark UDC’s continued expansion in the region and its commitment to supporting the next phase of OLED innovation.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260602647143/en/

Ribbon-Cutting Ceremony at UDC Chengdu OLED Technology and Innovation Center. (From left to right, General Manager of UDC China, Mr. Yeyun Dou, General Manager of CSO Organization, BOE, Mr. Xiangdong Qin, Senior Vice President of BOE, Mr. Xiangnan Yun, Chief Executive Officer of UDC, Mr. Steven V. Abramson, Executive Vice President and Chief Technical Officer of UDC, Dr. Julie Brown, Deputy Secretary General of CODA LCD Branch, Mr. Chunming Hu, General Manager of UDC Chengdu, Mr. Hao Ye)

Located in one of China’s leading OLED manufacturing hubs, the Chengdu facility features state-of-the-art laboratories and a dedicated customer support center. The site is designed to support materials characterization, device optimization and application development, strengthening UDC’s ability to engage more closely across the development cycle and enabling closer alignment with customers’ evolving specifications. This expanded footprint reflects the Company’s long-term investment in the region and its role within the broader OLED ecosystem.

“The opening of our Chengdu OLED Technology and Innovation Center marks an important milestone in our continued growth in China and reinforces our long-term commitment to our customers and partners,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “As a leader in OLED technologies and phosphorescent materials, we are expanding our presence in the region to foster greater collaboration, provide more direct, hands-on support while advancing the development of next-generation high-performance, energy-efficient and sustainable displays and lighting.”

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 7,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other Company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2025. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20260602647143/en/

Key Takeaways AEP's Q1 operating EPS $1.64 beat estimates; revenues rose 10% Y/Y to $6.02B.American Electric signed seven GW of new load agreements in Q1, mostly in Ohio and Texas, on demand growth.AEP sees contracted load growing to 63 GW by 2030 and guides 2026 EPS at $6.15-$6.45. American Electric Power Company, Inc. (AEP - Free Report) reported first-quarter 2026 operating earnings of $1.64 per share, which beat the Zacks Consensus Estimate of $1.55 by 5.8%. Operating earnings increased 6.5% from $1.54 in the year-ago quarter.

On a GAAP basis, AEP posted earnings of $1.61 per share, up from $1.50 a year ago.

American Electric Total RevenuesAEP generated total revenues of $6.02 billion, up 10.2% from $5.46 billion in the prior-year quarter. The top line also came in ahead of the Zacks Consensus Estimate of $5.68 billion by 6.0%.

The company’s quarter reflected continued demand growth across its service territory, with management pointing to seven gigawatts of new load agreements signed during the first quarter, largely in Ohio and Texas. AEP also highlighted that its incremental contracted load is expected to expand to 63 gigawatts by 2030, supported by signed agreements with large-load customers.

AEP’s Segmental PerformanceVertically Integrated Utilities: Operating earnings increased to $464 million from $350 million in the year-ago quarter, supported by stronger underlying utility performance. This segment remained AEP’s largest profit contributor for the period.

Transmission & Distribution Utilities: Operating earnings came in at $237 million, up from $192 million a year ago. The improvement reflected stronger results in the distribution-focused utilities compared with the prior-year base.

AEP Transmission Holdco: Operating earnings totaled $209 million, down from $235 million in first-quarter 2025. Despite its strategic importance, this segment was the primary drag on year-over-year operating earnings growth.

Generation & Marketing: Operating earnings rose to $90 million from $76 million a year earlier. The improvement indicated better performance in the company’s marketing, risk management and related market activities compared with the year-ago quarter.

Corporate and Other: The segment reported an operating loss of $109 million, wider than the $30 million loss posted in the prior-year period. The larger loss meaningfully offset gains elsewhere across the portfolio.

AEP’s 2026 GuidanceAmerican Electric expects to generate earnings in the band of $6.15-$6.45 per share. The Zacks Consensus Estimate for earnings is pegged at $6.33 per share, which lies above the midpoint of the company’s projected range.

AEP’s Zacks RankAmerican Electric currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Utility ReleasesCenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2026 adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 58 cents by 3.8%. However, the bottom line increased 5.7% from 53 cents in the year-ago quarter.

CNP generated revenues of $2.98 billion, which missed the Zacks Consensus Estimate of $3.04 billion by 1.4%. However, the top line improved 2% from the year-ago reported figure of $2.92 billion.

CMS Energy Corporation (CMS - Free Report) reported first-quarter 2026 earnings of $1.13 per share, which beat the Zacks Consensus Estimate of $1.11 by 1.8%. The bottom line also increased 10.8% from $1.02 in the prior-year quarter.

CMS’ operating revenues totaled $2.73 billion, which topped the Zacks Consensus Estimate of $2.53 billion by 8.1%. The top line also increased 11.6% from $2.45 billion in the prior-year quarter.

Edison International (EIX - Free Report) came out with quarterly earnings of $1.42 per share, which beat the Zacks Consensus Estimate of $1.32 per share by 7.6%. The bottom line also increased 3.7% from $1.37 in the year-ago quarter.

Edison International's first-quarter operating revenues totaled $4.1 billion, which beat the Zacks Consensus Estimate of $3.99 billion by 2.8%. The top line also increased 7.6% from the year-ago quarter’s figure of $3.81 billion.

Triple-net lease with high-investment-grade tenant valued at up to $25.1 billion if all renewal options are exercised

Transaction expands Hut 8's total contracted AI data center capacity to 597 MW with aggregate base-term contract value of approximately $16.8 billion

Hut 8 to deliver a 352 MW AI factory designed to NVIDIA's DSX reference architecture for gigawatt-scale AI infrastructure

Executed under Hut 8's repeatable delivery model with Tier 1 counterparties: American Electric Power (Nasdaq: AEP), Vertiv Holdings Co (NYSE: VRT), and Jacobs (NYSE: J)

, /PRNewswire/ -- Hut 8 Corp. (Nasdaq, TSX: HUT) ("Hut 8" or the "Company"), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies, today announced the commercialization of the first phase of its Beacon Point data center campus in Nueces County, Texas through a 15-year, $9.8 billion lease (the "Agreement") for 352 megawatts (MW) of IT capacity (the "Transaction"). The tenant, a high-investment-grade company, will deploy dedicated compute infrastructure at the campus to support AI training and inference workloads at hyperscale.

Rendering of Hut 8's Beacon Point data center campus in Nueces County, Texas Beacon Point is the second AI data center campus commercialized under the Company's power-first, greenfield development model following River Bend. Hut 8 has executed an interconnection agreement for 1,000 MW of utility capacity, with initial energization expected in Q1 2027. As with River Bend, Hut 8 identified and secured the site through its power-first approach and subsequently commercialized it through a hyperscale AI lease. The Beacon Point transaction brings Hut 8's total contracted AI data center capacity to 597 MW of IT capacity with aggregate base-term contract value of approximately $16.8 billion and aggregate average annual NOI to approximately $1.1 billion.

Transaction Highlights

Lease Structure: Triple net (NNN) lease. Tenant Profile: Confidential, high-investment-grade company. Compute Architecture: Hut 8 to deliver a 352 MW AI factory designed to NVIDIA's DSX reference architecture for gigawatt-scale AI infrastructure. Base-Term Contract Value: Total contract value of $9.8 billion over a 15-year base lease term, inclusive of a 3.0% annual base rent escalator. NOI Contribution: Expected cumulative NOI contribution of $9.8 billion over the base lease term, translating to an expected average annual NOI contribution of $655 million upon stabilization. Upside Economics: Three 5-year renewal options increase potential contract value to approximately $25.1 billion assuming all three options are exercised. Delivery Timeline: Initial data hall delivery expected in Q3 2027. Project-level Financing: Hut 8 intends to support the development of Beacon Point with project-level financing that aims to optimize cost of capital at the asset level while maintaining disciplined long-term leverage metrics at the corporate level. Campus Scalability: 1,000 MW of utility capacity with initial energization expected in Q1 2027. Commercial Potential: The lease for 352 MW of IT capacity, requiring approximately 500 MW of utility capacity, represents the first phase of commercialization at a campus designed to support up to 1,000 MW of utility capacity, providing significant runway for potential campus expansion and revenue growth. Power-First Underwriting and the First Phase of Value Creation

Beacon Point exemplifies Hut 8's power-first development model and the value creation it enables across the asset lifecycle. Originally underwritten on a speed-to-power thesis to serve Hut 8's affiliated customer, American Bitcoin Corp. ("ABTC"), the site was repositioned to AI infrastructure as power demand accelerated and customer requirements broadened. Hut 8 transitioned Beacon Point from its original commercialization pathway with ABTC to deliver an AI data center campus with contracted, investment-grade cash flows, marking the first phase of asset-level value creation at the campus.

Asher Genoot, CEO of Hut 8, said: "Beacon Point underscores why we start with power and maintain flexibility across end markets. Operating across multiple applications lets us underwrite assets that single-use-case developers cannot, then redirect them toward higher-value commercialization pathways as demand evolves. This flexibility is intentional, and it is embedded in how we underwrite, develop, and commercialize infrastructure."

First-Principles Engineering and the Second Phase of Value Creation

Beacon Point also exemplifies Hut 8's first-principles engineering approach and the value creation it enables as technology applications evolve. Following the repositioning of the campus to AI, the first data hall was scoped for 224 MW of IT capacity, sized to the chip architectures commercially deployed at the time. As NVIDIA's DSX reference architecture advanced toward commercial deployment with materially higher rack-level power densities, Hut 8 redesigned the data hall to support a 352 MW AI factory, a 57% increase over the initial design, within the same land and utility footprint.

Scalable, Partnership-Driven Execution Model

Hut 8 is developing Beacon Point through a partnership-driven execution model first implemented at its River Bend campus. The model is structured to mitigate risk across the project lifecycle by aligning Tier 1 partners to defined roles across technology, engineering and construction, and critical systems delivery.

Asher Genoot, CEO of Hut 8, said: "This transaction commercializes the first building of our newest gigawatt-scale campus and marks our second AI data center lease. More importantly, it demonstrates that our development model, which pairs power-first underwriting with disciplined commercialization and institutional execution, is repeatable and extendable across our broader pipeline."

NVIDIA is engaged as technology partner, with Phase 1 of the campus engineered to NVIDIA's DSX reference architecture for gigawatt-scale AI factories. Jacobs, a global scienced-based consulting and advisory firm, is retained as EPCM (Engineering, Procurement and Construction Management) lead, working alongside Vertiv in its role supporting critical digital infrastructure systems.

Bob Pragada, Chair and CEO of Jacobs, said: "Beacon Point underscores the strength of our partnership with Hut 8 and the discipline required to deliver AI infrastructure with speed, safety, and certainty. Building on our work together at River Bend, we are applying our EPCM leadership and advanced digital twin technology to set the benchmark for AI infrastructure deployment, optimization, and resiliency."

Giordano Albertazzi, CEO of Vertiv, said: "Next generation AI infrastructure will be defined by how quickly power can be converted into AI capacity. Partnering with Hut 8 aligns with Vertiv's systems-level approach to converged physical infrastructure —  bringing power, cooling, and deployment execution at scale. At Beacon Point, we are applying Vertiv's global manufacturing depth, supply chain discipline, engineering expertise, and critical digital infrastructure portfolio to help deliver AI capacity with speed, reliability, and long-term performance."

Utility and Regional Partnerships

Hut 8 is developing the Beacon Point campus in collaboration with key Texas stakeholders, including AEP Texas, a subsidiary of American Electric Power (AEP), and the Corpus Christi Regional Economic Development Corporation (CCREDC). Hut 8 and AEP Texas have executed an interconnection agreement for 1,000 MW of utility capacity for the campus, with initial energization expected in Q1 2027.

Hut 8 brings a long operating history in Texas and extensive experience working within ERCOT across large-load applications. This experience has enabled the Company to advance complex infrastructure projects by navigating market dynamics, interconnection processes, and transmission and system upgrade requirements while maintaining disciplined development and execution timelines.

Aaron Bowman, CEO of CCREDC, said: "Beacon Point reflects the type of long-term investment that supports durable growth in the Coastal Bend economy. Hut 8's focus on power infrastructure and disciplined execution aligns with the region's assets and workforce capabilities, and we are pleased to support the advancement of this campus in Nueces County."

Development Pipeline Update

The Transaction advances 500 MW of utility capacity from Energy Capacity Under Development to Energy Capacity Under Construction. An additional 500 MW of utility capacity from Beacon Point remains within Energy Capacity Under Development.  

Hut 8 continues to advance opportunities across a broader pipeline spanning 7,545 MW of Energy Capacity Under Diligence, Exclusivity, and Development, applying the same power-first underwriting framework and institutional execution model demonstrated at River Bend and Beacon Point.

Stage

Description

Utility Capacity   
As of May 6,
2026

Energy Capacity Under
Diligence

Sites identified for large-load use cases such as AI, HPC, ASIC compute, industrial applications such as
next generation manufacturing, and other energy-intensive technologies. At this stage, Hut 8 assesses site
potential by engaging with utilities, landowners, and other stakeholders to evaluate critical factors, including
power availability, infrastructure readiness, fiber connectivity, and overall commercial viability.

 5,315 MW

Energy Capacity Under
Exclusivity

Sites where Hut 8 has secured a clear path to ownership through either: (i) an exclusivity agreement that prevents
the sale of designated land and power capacity to another party or (ii) a tendered interconnection agreement,
confirming a viable path to securing power and infrastructure for deployment.

1,680 MW1

Energy Capacity Under
Development

Sites where Hut 8 is actively investing in development and commercialization by executing definitive land and/or 
power agreements, advancing site design and infrastructure buildout, and engaging with prospective customers.

550 MW

Energy Capacity Under
Construction

 Sites where Hut 8 has executed a definitive offtake agreement and commenced construction activities.

830 MW

Total

All sites under diligence, exclusivity, development, commercialization, and construction.

8,375 MW1

Note: (1) Excludes 1,000 MW of potential IT expansion capacity at River Bend, for which Fluidstack holds a ROFO under the River Bend lease.

Non-GAAP Financial Measures

This press release includes a non-GAAP financial measure, expected net operating income (NOI) contribution, which the Company defines as expected lease revenue for a particular lease less any non-reimbursable operating expenses attributable to the leased property. The Company's management team uses expected NOI contribution to measure the expected operating performance of a particular lease. Operating income is the GAAP measure most directly comparable to expected NOI contribution. In evaluating expected NOI contribution, you should be aware that in the future the Company may incur non-reimbursable lease operating expenses that are not currently known. The Company's presentation of expected NOI contribution should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. Expected NOI contribution has important limitations as an analytical tool and you should not consider expected NOI contribution in isolation or as a substitute for analysis of results as reported under GAAP. For example, expected NOI contribution excludes the impact of selling, general and administrative expenses and depreciation and amortization, which have real economic effect and could materially impact the Company's consolidated financial results. Other companies, including Real Estate Investment Trusts, may calculate expected NOI contribution differently than the Company does and, accordingly, the Company's expected NOI contribution may not be comparable to similar measures published by such companies. No reconciliation of expected NOI contribution is included in this press release because the Company is unable to quantify certain amounts that would be required to be included in operating income without unreasonable efforts as such quantification would imply a degree of precision that would be confusing or misleading to investors.

Additional Transaction Information and Upcoming Communications

Hut 8 has made available on its website an investor presentation with further details regarding the Transaction.

For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company's website, hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.

About Hut 8

Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.

Cautionary Note Regarding Forward-Looking Information

This press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, "forward-looking information"). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the terms, value, and expected benefits of the Transaction and the Agreement, including expected contract value, NOI contribution, and potential value from renewal options, the timing of development, construction, energization, and delivery of the Beacon Point campus, the Company's plans with respect to project-level financing, the expected capacity, scalability, and potential future expansion of the campus, the Company's development pipeline, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, and other such matters is forward-looking information. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "allow", "believe", "estimate", "expect", "predict", "can", "might", "potential", "is designed to", "likely," or similar expressions.

Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, risks relating to the construction of new data centers, including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca.

SOURCE Hut 8 Corp.