UnitedHealth Group (UNH - Free Report) ended the recent trading session at $289.21, demonstrating a -1.94% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.94%. Elsewhere, the Dow saw a downswing of 0.83%, while the tech-heavy Nasdaq depreciated by 1.02%.
Shares of the largest U.S. health insurer have appreciated by 3.27% over the course of the past month, outperforming the Medical sector's gain of 2.62%, and the S&P 500's loss of 1.3%.
The investment community will be paying close attention to the earnings performance of UnitedHealth Group in its upcoming release. On that day, UnitedHealth Group is projected to report earnings of $6.76 per share, which would represent a year-over-year decline of 6.11%. At the same time, our most recent consensus estimate is projecting a revenue of $110.26 billion, reflecting a 0.62% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $17.7 per share and a revenue of $440.44 billion, representing changes of +8.26% and -1.59%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for UnitedHealth Group. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.12% upward. As of now, UnitedHealth Group holds a Zacks Rank of #3 (Hold).
In terms of valuation, UnitedHealth Group is presently being traded at a Forward P/E ratio of 16.67. This signifies a premium in comparison to the average Forward P/E of 15.02 for its industry.
One should further note that UNH currently holds a PEG ratio of 1.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Medical - HMOs industry was having an average PEG ratio of 1.
The Medical - HMOs industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 228, positioning it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
2026-03-03 23:552mo ago
2026-03-03 18:472mo ago
Gran Tierra Energy Inc. Announces 2025 Fourth Quarter & Year-End Results
Achieved Average Working Interest Fourth Quarter Production of 46,344 BOEPDRealized 2025 Adjusted EBITDA1 of $284 MillionDelivered Net Cash Provided by Operating Activities of $313 Million, up 31% from 2024Generated 2025 Funds Flow from Operations1 of $178 MillionSeventh Consecutive Year of South American Reserves Growth With Over 100% Reserve Replacement PDP & 2PAchieved Company’s Best Safety Performance on Record in 2025Subsequent to Year-End Completed a Bond Exchange, Sold Non-Core Assets and Signed an Agreement in Azerbaijan CALGARY, Alberta, March 03, 2026 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today announced the Company’s financial and operating results for the fourth quarter (“the Quarter”) and year ended December 31, 2025. Gran Tierra’s 2025 year-end reserves were evaluated by the Company's independent qualified reserves evaluator McDaniel & Associates Consultants Ltd. (“McDaniel”) in a report with an effective date of December 31, 2025 (the “GTE McDaniel Reserves Report”). All reserves values, future net revenue and ancillary information contained in this press release have been prepared by McDaniel and calculated in compliance with Canadian National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101”) and the Canadian Oil and Gas Evaluation Handbook (“COGEH”) and derived from the GTE McDaniel Reserves Report, unless otherwise expressly stated. The following reserves categories are discussed in this press release: Proved Developed Producing (“PDP”), Proved (“1P”), 1P plus Probable (“2P”) and 2P plus Possible (“3P”). All dollar amounts are in United States (“U.S.”) dollars and all production volumes are on an average working interest before royalties (“WI”) basis unless otherwise indicated. Production is expressed in barrels (“bbl”) of oil equivalent (“boe”) per day (“boepd” or “boe/d”) and are based on WI sales before royalties. Reserves are expressed in boe or million boe (“MMBOE”), unless otherwise indicated. For per boe amounts based on net after royalty (“NAR”) production, see Gran Tierra’s Annual Report on Form 10-K filed March 4, 2026.
Message to Shareholders
Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented: “We exited 2025 in a position of operational strength and enhanced financial flexibility. The successful exchange of our 9.500% Senior Secured Amortizing Notes due 2029, with approximately 88% participation, demonstrates strong bondholder confidence in Gran Tierra and our strategy. The exchange extended our maturity profile and reduced total bond debt outstanding while strengthening our capital structure. Together with the prepayment facility and non-core asset sales, this significantly enhances our liquidity and provides greater flexibility to allocate capital and accelerate deleveraging as we enter 2026.
These actions provide a clear path toward deleveraging while we execute on a clear development plan across the portfolio. Over the past several years, our team has assembled a diversified, high-quality asset base across South America and Canada. That portfolio build-out required disciplined investment and the strategic use of leverage to secure long-life, high-quality assets with a focus on portfolio longevity. With the portfolio now established, our focus shifts to optimizing and developing those assets while steadily reducing debt and maximizing free cash flow. As we close out 2025, we look toward a 2026 program centered on disciplined development and capital allocation, leveraging our technical capabilities across the portfolio to deliver stable production growth and free cash flow.”
Operational:
Production: Gran Tierra achieved 2025 average WI production of 45,709 BOEPD, representing a 32% increase from 2024, as a result of positive exploration well results in Ecuador, full year production from the Canadian operations, partially offset by lower production in Southern Colombia and Ecuador as a result of two major export pipeline disruptions, and trunk line repairs at the Moqueta field which resulted in the field being shut-in during the third quarter of 2025.The Quarter: Gran Tierra produced an average WI production of 46,344 BOEPD, a 13% increase from the fourth quarter 2024 and a 9% increase from the third quarter 2025 (“the Prior Quarter”). Commitments: Gran Tierra significantly reduced its capital commitments in both Ecuador and Colombia during the year. In Ecuador, the Company completed all Phase 1 commitments and submitted the required Field Development Plans, fully securing its country entry. In Colombia, commitments were streamlined through targeted portfolio and work program revisions. Together with ongoing debt reduction, these actions reduced letters of credit and obligations, materially improving liquidity and enhancing capital allocation flexibility going forward.2026 Suroriente Drilling Campaign: The Company recently drilled the Raju-2 well on the Suroriente Block, targeting the northern extent of the Cohembi field. The well is currently producing at a rate of approximately 790 barrels of oil per day, 6 barrels of water per day and 0.6 thousand cubic feet of gas per day and is on track to exceed management’s initial 30-day production expectations. Raju-2 further delineates the productive limits of the field while reinforcing the development potential of the broader Cohembi structure. The well is part of is part ofthe capital carry commitment associated with Suroriente and with three wells remaining, the Company expects to complete the remaining capital carry by the middle of 2026.Azerbaijan Entry: Gran Tierra entered into an exploration, development and production sharing agreement (“EDPSA”) with the State Oil Company of the Azerbaijan Republic (“SOCAR”), providing for a 65% participating interest to Gran Tierra and 35% to SOCAR. The EDPSA includes a five-year exploration phase and upon a commercial discovery, a 25-year development phase. Minimum exploration commitments to be completed within 36 months include the acquisition of 250 square kilometres of 3D seismic, the drilling of two exploration wells, and geological and environment impact studies. 2025 Year-End Reserves and Values2:
Before Tax (as of December 31, 2025)Units1P2P3PReservesMMBOE142258329Net Present Value at 10% Discount (“NPV10”)$ million1,4562,4613,317Net Debt*$ million(658)(658)(658)Net Asset Value (NPV10 less Net Debt) (“NAV”)3$ million7981,8032,659Outstanding Shares4million35.3035.3035.30NAV per Share3$/share22.6151.0875.33 After Tax (as of December 31, 2025)Units1P2P3PReservesMMBOE142258329NPV10$ million1,1381,7582,283Net Debt*$ million(658)(658)(658)NAV3$ million4801,1001,625Outstanding Shares4million35.3035.3035.30NAV per Share3$/share13.6131.1746.05 As of December 31, 2025, Gran Tierra achieved2,3: Before Tax NAV of $0.8 billion (1P), $1.8 billion (2P), and $2.7 billion (3P)After Tax NAV of $0.5 billion (1P), $1.1 billion (2P), and $1.6 billion (3P)Reserve Life Index**: 1P: 8 years2P: 15 years3P: 19 years South American reserves replacement*** of: 101% PDP, with PDP reserves additions of 11 MMBOE.61% 1P, with 1P reserves additions of 6 MMBOE.105% 2P, with 2P reserves additions of 11 MMBOE. Canadian reserves replacement was negative as a result of the reclassification of certain reserves to contingent resources due to lower forecasted gas prices. Canada now represents 39% of 1P and 44% of 2P reserves compared to Gran Tierra’s total reserves.Future development costs (“FDC”) are forecasted by McDaniel to be $888 million for 1P reserves and $1,682 million for 2P reserves. Decreases in FDC relative to 2024 year-end reflect that the GTE McDaniel Reserves Report now assigns Gran Tierra 168 Proved Undeveloped future drilling locations (down from 227 at 2024 year-end with 62 Glauconitic locations moved to contingent resources) and 362 Proved plus Probable Undeveloped future drilling locations (down from 441 at 2024 year-end with 74 Glauconitic locations moved to contingent). *Comprised of Senior Notes of $741 million (gross) less cash and cash equivalents of $83 million, prepared in accordance with GAAP. See “Non-GAAP Measures”.
**The reserve life indexes were calculated based on a Q4 2025 total average production rate of 46,344 BOEPD.
***Reserves replacement were calculated based on an annual basis using South America average production rate of 29,023 BOEPD.
Financial:
2025 Net Income: Gran Tierra realized a net loss of $193.1 million or $5.45 per share (basic and diluted), which included non-cash ceiling test impairment losses of $136.3 million, compared to net income of $3.2 million, or $0.10 per share (basic and diluted) in 2024.2025 Adjusted EBITDA1: The Company realized Adjusted EBITDA1 of $283.7 million, a decrease of 23% from $366.8 million in 2024, commensurate with the decrease in the Brent oil price.2025 Net Cash Provided by Operating Activities: The Company generated net cash provided by operating activities of $313.2 million, an increase of 31% from $239.3 million in 2024.2025 Funds Flow from Operations1: Gran Tierra realized funds flow from operations1 of $177.8 million, compared to $224.9 million in 2024.2025 Capital Expenditures: Capital expenditures increased by $8.2 million or 3% to $256.3 million compared to 2024 due to a higher number of wells drilled in 2025 in Colombia, Ecuador, and Canada, which was predominately funded by the Company’s 2025 net cash provided by operating activities of $313.2 million.Key Metrics During the Quarter: The Company realized a net loss of $141.1 million, Adjusted EBITDA1 of $52.5 million, and funds flow from operations1 of $26.8 million in the Quarter, compared with a net loss of $20.0 million, Adjusted EBITDA1 of $69.0 million, and funds flow from operations1 of $41.7 million in the Prior Quarter. The Company recognized quarterly production of 46,344 BOEPD.Cash Balance: The Company had $82.9 million in cash and cash equivalents as at December 31, 2025, a decrease compared to a cash balance of $103.4 million as at December 31, 2024.Bonds Buybacks: During 2025, Gran Tierra bought back approximately $21.3 million in face value of the Company’s 9.50% senior notes due October 15, 2029. This represents a discount of about 20% to the face value of the repurchased bonds.Share Buybacks: Since January 1, 2022, through its NCIB programs, the Company has re-purchased approximately 7.5 million shares of Common Stock, representing about 21% of shares outstanding as of December 31, 2025.2025 Operating Costs: Total operating expenses were $248.7 million, compared to $202.3 million in 2024, representing a 23% increase while operating expenses per boe were $15.17, 6% lower when compared to 2024. The increase in total operating expenses in 2025 was a result of higher operating costs in Ecuador driven by a production ramp-up in 2025, and the full year of Canadian operations.2025 Cash General and Administrative Costs: The Company’s gross cash general and administrative (“G&A”) costs increased to $3.47 per boe from $3.30 per boe in 2024. Total cash G&A costs were $56.9 million, an increase of 37% from $41.4 million in 2024, driven by a full year of G&A expenses from Canadian operations, higher business development costs, and consulting costs attributed to optimization projects.Oil, Natural Gas and Natural Gas Liquids (“NGL”) Sales: 2025: Gran Tierra’s oil, natural gas and NGL sales decreased 4% to $596.7 million, compared to $621.8 million in 2024. This decrease was primarily driven by a 15% decrease in Brent price and a 19% decrease in sales volumes in Colombia, offset by higher sales volumes in Ecuador, lower differentials, and a full year of sales from Canadian operations.The Quarter: Gran Tierra generated oil, natural gas and NGL sales of $129.9 million, a decrease of 13% or $19.3 million from the Prior Quarter, primarily driven by a 7% decrease in the Brent oil price, offsetting a 13% increase in production. Oil, natural gas and NGL sales were $32.95 per boe, a 10% decrease from the Prior Quarter primarily as a result of lower oil prices and lower natural gas prices in Canada. Sales in the Quarter were impacted by the timing of a lifting in Ecuador that deferred approximately $15 million of revenue, which was recognized in early January 2026. Operating Netback1: 2025: Gran Tierra’s operating netback1 of $20.18 per boe was down 37% from $31.99 in 2024.The Quarter: The Company’s operating netback1 of $17.53 per boe was lower by 21% from the fourth quarter 2024 and a decrease of 7% from the Prior Quarter due to increased weighting to natural gas in Canada and lower oil prices. Closing of Bond Exchange and Upsized Prepayment Facility:
Subsequent to December 31, 2025, Gran Tierra successfully closed its previously announced bond exchange, achieving approximately 88% participation, reflecting strong bondholder confidence in the Company’s asset base, strategy and long-term credit profile. The Company exchanged $629 million of its 9.500% Senior Secured Amortizing Notes due 2029 for $504 million of new 9.750% Senior Secured Amortizing Notes maturing April 15, 2031, with a structured amortization profile beginning in 2029. In connection with the exchange, the Company paid $125.0 million in cash consideration and cancelled the tendered and treasury-held notes. On a pro forma basis, reflecting the exchange, Gran Tierra’s net debt is approximately $5338 million. The Company also amended and expanded its oil offtake and prepayment agreement with Trafigura to a facility of up to $350.0 million, enhancing liquidity and extending maturities while further strengthening the balance sheet. Gran Tierra’s Commitment to Go “Beyond Compliance” with Safe and Sustainable Operations
2025 was the Company’s safest year on record. Gran Tierra has accumulated a total of 37.2 million person-hours without a Lost Time Injury (LTI), and in 2025, the Company’s Total Recordable Incident Frequency (TRIF) was 0.02, placing Gran Tierra in the top quartile for safety performance across its operating regions.Gran Tierra opened the Acordionero Forestry Centre in El Cairo, Cesar, Colombia — the Company’s second forestry centre dedicated to biodiversity, conservation, sustainable agricultural management and environmental innovation. Nearly 11,000 native trees have already been planted at the site, and the nursery produces approximately 9,000 plants per month, reinforcing its contribution to regional ecosystem recovery. The Centre also features a solar-powered aquaponics system that operates as a closed loop: tilapia waste fertilizes soil-free crops while water is continuously recycled, reducing water use by more than 90% compared with traditional farming.Launched in 2017 in Colombia, Gran Tierra’s flagship program NaturAmazonas, has evolved into much more than a traditional conservation project. While Gran Tierra has consistently expanded our reforestation efforts to exceed initial targets, the program now also integrates the local economy into it. Gran Tierra has grown to support over 800 local families in deforestation-free cacao farming, connected them with international buyers and has trained over 420 local beekeepers to produce sustainable honey from native bee species.Throughout all of Gran Tierra’s environmental initiatives, Gran Tierra has planted over 1.9 million trees and restored or protected over 5,600 hectares of land so far.More than 400,000 people have benefited from Gran Tierra’s social investment programs in South America to date.As part of the Works for Taxes program, Gran Tierra is building four major infrastructure projects in Putumayo, including a new aqueduct that will deliver potable water to 1,300 residents in the municipalities of Mocoa, Valle del Guamuez and Puerto Asís. Other initiatives include rural road upgrades benefiting 24,000 local residents and improvements to local school facilities.Gran Tierra has been accepted by the Voluntary Principles Initiative as an official member of the Voluntary Principles for Security and Human Rights world-wide initiative. This membership is a recognition of Gran Tierra’s efforts at respecting and promoting human dignity and provides support to improve the Company’s security and Human Rights performance. Corporate Presentation:
Gran Tierra’s Corporate Presentation has been updated and is available at www.grantierra.com. Financial and Operational Highlights5 (all amounts in $000s, except per share and boe amounts)
Consolidated InformationYear Ended Three Months Ended December 31,December 31, December 31,December 31,September 30, 2025 2024 2025 2024 2025 Net (Loss) Income$(193,119)$3,216 $(141,148)$(34,210)$(19,950)Net (Loss) Income Per Share - Basic$(5.45)$0.10 $(4.00)$(1.04)$(0.57)Net (Loss) Income Per Share - Diluted$(5.45)$0.10 $(4.00)$(1.04)$(0.57) Operating Netback1 Gross Profit6$66,419 $182,637 $851 $22,180 $14,670 Depletion and Accretion7 264,522 218,417 68,236 60,061 61,908 Operating Netback1$330,941 $401,054 $69,087 $82,241 $76,578 Oil, Natural Gas and NGL Sales$596,713 $621,849 $129,929 $147,290 $149,254 Operating Expenses (248,748) (202,331) (57,160) (60,770) (68,379)Transportation Expenses (17,024) (18,464) (3,682) (4,279) (4,297)Operating Netback1$330,941 $401,054 $69,087 $82,241 $76,578 G&A Expenses Before Stock-based Compensation$56,873 $41,431 $16,817 $8,672 $13,453 G&A Expenses Stock-Based Compensation 3,214 9,707 3,042 3,331 143 G&A Expenses, Including Stock-Based Compensation$60,087 $51,138 $19,859 $12,003 $13,596 EBITDA1$146,790 $355,690 $(77,030)$65,247 $59,202 Adjusted EBITDA1$283,656 $366,758 $52,473 $76,168 $69,034 Net Cash Provided by Operating Activities$313,249 $239,321 $157,193 $26,607 $48,149 Funds Flow from Operations1$177,762 $224,941 $26,827 $44,129 $41,685 Capital Expenditures (Before Changes in Working Capital)$256,277 $248,103 $53,040 $78,579 $57,340 Free Cash Flow1$(78,515)$(23,162) $(26,213)$(34,450)$(15,655) Average Daily Volumes (BOEPD) Working Interest Production Before Royalties 45,709 34,710 46,344 41,009 42,685 Royalties (7,266) (6,820) (6,880) (7,327) (6,723)Production NAR 38,443 27,890 39,464 33,682 35,962 (Decrease) Increase in Inventory (779) (454) (3,480) (712) 1,391 Sales 37,664 27,436 35,984 32,970 37,353 Royalties, % of WI Production Before Royalties 16% 20% 15% 18% 16% Per boe5 Gross Profit6$4.05 $14.57 $0.22 $5.98 $3.62 Depletion and Accretion7 16.13 17.42 17.30 16.20 15.27 Operating Netback(1)(5)$20.18 $31.99 $17.53 $22.19 $18.89 Brent$68.19 $79.86 $63.08 $74.01 $68.17 Quality and Transportation Discount (24.78) (17.93) (23.83) (25.45) (24.73)Royalties (7.02) (12.33) (6.30) (8.83) (6.63)Average Realized Price$36.39 $49.60 $32.95 $39.73 $36.81 Transportation Expenses (1.04) (1.47) (0.93) (1.15) (1.06)Average Realized Price Net of Transportation Expenses$35.35 $48.13 $32.02 $38.58 $35.75 Operating Expenses (15.17) (16.14) (14.49) (16.39) (16.86)Operating Netback1$20.18 $31.99 $17.53 $22.19 $18.89 Cash G&A Expenses (3.47) (3.30) (4.26) (2.75) (3.32)Transaction Costs — (0.47) — (1.20) — Export Tax (0.20) — (0.17) — (0.65)Realized Foreign Exchange (Loss) Gain (0.47) 0.07 (0.71) 0.07 (0.53)Cash Settlement on Derivative Instruments 0.63 0.09 0.19 0.30 1.84 Interest Expense, Excluding Amortization of Debt Issuance Costs (5.02) (5.38) (5.45) (5.40) (5.22)Interest Income 0.07 0.29 0.06 0.34 0.05 Other Cash Gain 0.10 0.12 — 0.40 0.31 Net Lease Payments (0.01) 0.07 (0.03) 0.07 (0.10)Current Income Tax (Expense) Recovery (0.97) (5.53) (0.35) (2.12) (0.99)Cash Netback1$10.84 $17.95 $6.81 $11.90 $10.28 Share Information (000s) Common Stock Outstanding, End of Period 35,299 35,972 35,299 35,972 35,296 Weighted Average Number of Common - Basic 35,436 32,043 35,294 34,333 35,291 Weighted Average Number of Common - Diluted 35,436 32,043 35,294 34,333 35,291 Colombia InformationYear Ended, Three Months Ended, December 31,December 31, December 31,December 31,September 30, 20252024 202520242025Operating Netback(1)(5) Gross Profit6$53,685$180,605 $(2,865)$21,728$10,237Depletion and Accretion7186,319199,323 49,38347,85844,041Operating Netback(1)(5)$240,004$379,928 $46,518$69,586$54,278 Oil Sales$418,411$575,482 $89,072$119,310$101,999Operating Expenses(165,902)(179,257) (39,897)(46,614)(44,819)Transportation Expenses(12,505)(16,297) (2,657)(3,110)(2,902)Operating Netback(1)(5)$240,004$379,928 $46,518$69,586$54,278 Capital Expenditures (Before Changes in Working Capital)$149,138$126,867 $32,858$28,855$32,573 Average Daily Production (BOEPD) WI Production Before Royalties24,16929,389 23,25825,99022,701Royalties(3,685)(5,545) (3,013)(4,548)(3,481)Production NAR20,48423,844 20,24521,44219,220Increase (Decrease) in Inventory(210)53 (908)245337Sales20,27423,897 19,33721,68719,557Royalties, % of WI Production Before Royalties15%19% 13%17%15% Operating Netback ($/boe)(1)(5) Gross Profit6$6.14$16.76 $(1.39)$9.00$4.83Depletion and Accretion721.3118.50 24.0219.8320.78Operating Netback(1)(5)$27.44$35.26 $22.63$28.83$25.60 Brent$68.19$79.86 $63.08$74.01$68.17Quality and Transportation Discount(11.65)(14.06) (13.01)(14.21)(11.48)Royalties(8.70)(12.39) (6.75)(10.37)(8.57)Average Realized Price47.8453.41 43.3249.4348.12Transportation Expenses(1.43)(1.51) (1.29)(1.29)(1.37)Average Realized Price Net of Transportation Expenses46.4151.90 42.0348.1446.75Operating Expenses(18.97)(16.64) (19.40)(19.31)(21.15)Operating Netback(1)(5)$27.44$35.26 $22.63$28.83$25.60 Ecuador InformationYear Ended, Three Months Ended, December 31,December 31, December 31,December 31,September 30, 20252024 202520242025Operating Netback(1)(5) Gross Profit6$5,479$2,336 $3,678$756$859Depletion and Accretion729,62410,156 5,2583,2659,519Operating Netback(1)(5)$35,103$12,492 $8,936$4,021$10,378 Oil Sales$62,609$27,412 $12,486$9,025$20,605Operating Expenses(24,270)(13,425) (2,918)(4,507)(9,157)Transportation Expenses(3,236)(1,495) (632)(497)(1,070)Operating Netback(1)(5)$35,103$12,492 $8,936$4,021$10,378 Capital Expenditures (Before Changes in Working Capital)$62,275$102,377 $16,197$31,416$15,474 Average Daily Production (BOEPD) WI Production Before Royalties4,8542,477 6,8983,7053,872Royalties(1,497)(881) (1,925)(1,213)(1,273)Production NAR3,3571,596 4,9732,4922,599Increase (Decrease) in Inventory(569)(507) (2,572)(957)1,054Sales2,7881,089 2,4011,5353,653Royalties, % of WI Production Before Royalties31%36% 28%33%33% Operating Netback ($/boe)(1)(5) Gross Profit6$3.50$3.24 $9.24$2.99$1.90Depletion and Accretion718.9414.08 13.2112.9121.00Operating Netback(1)(5)$22.44$17.33 $22.45$15.90$22.90 Brent$68.19$79.86 $63.08$74.01$68.17Quality and Transportation Discount(6.66)(11.06) (6.56)(10.09)(6.88)Royalties(21.50)(30.78) (25.15)(28.22)(15.83)Average Realized Price40.0338.02 31.3735.7045.46Transportation Expenses(2.07)(2.07) (1.59)(1.97)(2.36)Average Realized Price Net of Transportation Expenses37.9635.95 29.7833.7343.10Operating Expenses(15.52)(18.62) (7.33)(17.83)(20.20)Operating Netback(1)(5)$22.44$17.33 $22.45$15.90$22.90 Canadian InformationYear Ended, Three Months Ended, December 31,December 31, December 31,December 31,September 30, 20252024 202520242025Operating Netback(1)(5) Gross Profit6$7,255$(304) $38$(304)$3,574Depletion and Accretion748,5798,938 13,5958,9388,348Operating Netback(1)(5)$55,834$8,634 $13,633$8,634$11,922 Oil Sales$84,769$14,832 $19,785$14,832$21,884Natural Gas Sales23,9403,546 4,0264,1934,314NGL Sales20,2754,193 7,4773,5463,702Royalties(13,291)(3,616) (2,917)(3,616)(3,250)Oil, Natural Gas and NGL Sales After Royalties$115,693$18,955 $28,371$18,955$26,650Operating Expenses(58,576)(9,649) (14,345)(9,649)(14,403)Transportation Expenses(1,283)(672) (393)(672)(325)Operating Netback(1)(5)$55,834$8,634 $13,633$8,634$11,922 Capital Expenditures (Before Changes in Working Capital)$44,096$18,114 $3,712$18,114$9,228 Average Daily Production Crude Oil (bbl/d)4,049627 4,2202,4864,013Natural Gas (mcf/d)48,8408,274 46,15832,81449,260NGLs (bbl/d)4,496847 4,2743,3583,889WI Production Before Royalties (BOEPD)16,6852,853 16,18711,31316,112Royalties (BOEPD)(2,083)(394) (1,942)(1,566)(1,969)Production NAR (BOEPD)14,6022,459 14,2459,74714,143Sales (BOEPD)14,6022,459 14,2459,74714,143Royalties, % of WI Production Before Royalties12%14% 12%14%12% Benchmark Prices West Texas Intermediate ($/bbl)$64.87$69.62 $59.24$69.62$65.07AECO Natural Gas Price (C$/GJ)$1.59$1.56 $2.11$1.56$0.60 Average Realized Price Crude Oil ($/bbl)$57.35$64.86 $50.96$64.86$59.28Natural Gas ($/mcf)$1.34$1.17 $1.76$1.17$0.82NGLs ($/bbl)$12.36$13.57 $10.24$13.57$12.06 Operating Netback ($/boe)(1)(5) Gross Profit6$1.19$(0.29) $0.03$(0.29)$2.41Depletion and Accretion77.988.59 9.138.595.63Operating Netback(1)(5)$9.17$8.30 $9.16$8.30$8.04 Average Realized Price$21.18$21.69 $21.01$21.69$20.17Royalties(2.18)(3.47) (1.96)(3.47)(2.19)Transportation Expenses(0.21)(0.65) (0.26)(0.65)(0.22)Operating Expenses(9.62)(9.27) (9.63)(9.27)(9.72)Operating Netback(1)(5)$9.17$8.30 $9.16$8.30$8.04 As at December 31($000s) 2025 2024% ChangeCash and cash equivalents$82,931$103,379(20) Credit facility$—$—— Senior Notes$740,541$786,619(6) Additional information on 2025 expenses:
Quality and Transportation Discount: increased in 2025 to $24.78 per boe compared to $17.93 per boe in 2024 as a result of a change in production mix, driven by the full integration of Canadian operations acquired in October 2024.Transportation Expenses: decreased by 29% to $1.04 per boe in 2025 from $1.47 per boe in 2024 as a result of higher sales volumes transported in Ecuador, two months of transportation of sales volumes in Canada through pipelines, and an increase in trucking tariffs for Acordionero volumes in 2025.Royalties: decreased to $7.02 per boe in 2025, from $12.33 per boe in 2024. This decrease was driven by the 15% decrease in the Brent oil price in 2025 relative to 2024 and the price sensitive royalty regime in Colombia and Ecuador. 1 Operating netback, EBITDA, Adjusted EBITDA, funds flow from operations, net debt, free cash flow, and cash netback, are non-GAAP measures and do not have a standardized meaning under GAAP. Cash flow refers to the GAAP line item “net cash provided by operating activities”. Refer to “Non-GAAP Measures” in this press release for descriptions of these non-GAAP measures and reconciliations to the most directly comparable measures calculated and presented in accordance with GAAP.
2 The after-tax net present value of the Company’s oil and gas properties reflects the tax burden on the properties on a stand-alone basis. It does not consider the corporate tax situation, or tax planning. It does not provide an estimate of the value at the Company level which may be significantly different. The Company’s financial statements should be consulted for information at the Company level.
3 NAV per share is calculated as NPV10 (before or after tax, as applicable) of the applicable reserves category minus net debt, divided by the number of shares of Gran Tierra’s common stock issued and outstanding.
4 Outstanding shares of common stock based on December 31, 2025 balance of 35,298,774 shares of common stock.
5 Per boe amounts are based on WI sales before royalties. For per boe amounts based on NAR production, see Gran Tierra’s Annual Report on Form 10-K filed on March 4, 2026.
6 Gross profit is calculated as oil, gas and NGL sales, less operating and transportation expenses, and depletion and accretion related to producing assets.
7 Depletion and Accretion is calculated as DD&A expenses less depreciation of administrative assets.
8 Proforma Net Debt is based on $616 million outstanding of Senior Notes less $83 million of cash and cash equivalents as at December 31, 2025.
Conference Call Information
Gran Tierra will host its fourth quarter and full year 2025 results conference call on Wednesday March 4, 2026, at 9:00 a.m. Mountain Time, 11:00 a.m. Eastern Time, and 4:00 p.m. Greenwich Mean Time. Interested parties may register for the conference call at the following link: https://register-conf.media-server.com/register/BIea135c3b51d44c9cb4d060ac04b977dd. Please note that there is no longer a general dial-in number to participate and each individual party must register through the provided link. Once parties have registered, they will be provided a unique PIN and call-in details. There is also a feature that allows parties to elect to be called back through the “Call Me” function on the platform. Interested parties can also continue to access the live webcast from their mobile or desktop devices at the following link: https://edge.media-server.com/mmc/p/ruvvrgwq, which is also available on Gran Tierra’s website at https://www.grantierra.com/investor-relations/presentations-events/.
About Gran Tierra Energy Inc.
Gran Tierra Energy Inc., together with its subsidiaries, is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Canada, Colombia and Ecuador; however, we have recently entered into an exploration, development and production sharing agreement with SOCAR and may eventually expand our operations into Azerbaijan and will continue to pursue additional new growth opportunities that would further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Except to the extent expressly stated otherwise, information on the Company’s website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to [email protected] or (403) 265-3221.
Gran Tierra’s Securities and Exchange Commission (the “SEC”) filings are available on the SEC website at http://www.sec.gov. The Company’s Canadian securities regulatory filings are available on SEDAR+ at http://www.sedarplus.ca and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Contact Information
For investor and media inquiries please contact:
Gary Guidry, President & Chief Executive Officer
Ryan Ellson, Executive Vice President & Chief Financial Officer
Tel: +1.403.265.3221
For more information on Gran Tierra please go to: www.grantierra.com.
Forward Looking Statements and Legal Advisories:
This press release contains opinions, forecasts, projections, and other statements about future events or results that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and financial outlook and forward looking information within the meaning of applicable Canadian securities laws (collectively, “forward- looking statements”), which can be identified by such terms as “believe,” “expect,” “anticipate,” “forecast,” “budget,” “will,” “estimate,” “target,” “project,” “plan,” “should,” “guidance,” “outlook,” “strives” or similar expressions are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company’s strategies and expectations, capital program, drilling plans, cost saving initiatives, future sources of funding for capital expenditures and other activities, future planned operations and production estimates, forecast prices, and the Company’s plans to benefit the environment or communities in which it operates. Statements relating to “reserves” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, including that the reserves described can be profitably produced in the future.
The forward-looking statements contained in this press release reflect several material factors and expectations and assumptions of Gran Tierra including, without limitation, that Gran Tierra will continue to conduct its operations in a manner consistent with its current expectations, the ability of Gran Tierra to realize the anticipated benefits and operating synergies expected from the acquisition of i3 Energy, the accuracy of testing and production results and seismic data, pricing and cost estimates (including with respect to commodity pricing and exchange rates), rig availability, the risk profile of planned exploration activities, the effects of drilling down-dip, the 5-year weighted-average Brent forecast, the effects of waterflood and multi-stage fracture stimulation operations, the extent and effect of delivery disruptions, and the general continuance of current or, where applicable, assumed operational, regulatory and industry conditions in Canada, Colombia, Ecuador, and Azerbaijan and areas of potential expansion, and the ability of Gran Tierra to execute its business and operational plans in the manner currently planned, such as the expected effectiveness of the EDPSA in Azerbaijan and the timing and execution of the related exploration program. Gran Tierra believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct.
Among the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements in this press release are: our operations are located in South America and unexpected problems can arise due to guerilla activity, strikes, local blockades or protests; technical difficulties and operational difficulties may arise which impact the production, transport or sale of our products; other disruptions to local operations; global health events; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including inflation and changes resulting from a global health crisis, geopolitical events, including the ongoing conflicts in Ukraine, the Middle East and Venezuela, or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and resulting company or third-party actions in response to such changes; changes in commodity prices, including volatility or a prolonged decline in these prices relative to historical or future expected levels; the risk that current global economic and credit conditions may impact oil and natural gas prices and oil and natural gas consumption more than we currently predict, which could cause further modification of our strategy and capital spending program; prices and markets for oil and natural gas are unpredictable and volatile; the effect of hedges; the accuracy of productive capacity of any particular field; geographic, political and weather conditions can impact the production, transport or sale of our products; our ability to execute our business plan, which may include acquisitions, and realize expected benefits from current or future initiatives; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the ability to replace reserves and production and develop and manage reserves on an economically viable basis; the accuracy of testing and production results and seismic data, pricing and cost estimates (including with respect to commodity pricing and exchange rates); the risk profile of planned exploration activities; the effects of drilling down-dip; the effects of waterflood and multi-stage fracture stimulation operations; the extent and effect of delivery disruptions, equipment performance and costs; actions by third parties; the timely receipt of regulatory or other required approvals for our operating activities; the failure of exploratory drilling to result in commercial wells; unexpected delays due to the limited availability of drilling equipment and personnel; volatility or declines in the trading price of our common stock or bonds; the risk that we do not receive the anticipated benefits of government programs, including government tax refunds; our ability to comply with financial covenants in its credit agreement and indentures and make borrowings under any credit agreement; and the risk factors detailed from time to time in Gran Tierra’s periodic reports filed with the Securities and Exchange Commission, including, without limitation, under the caption “Risk Factors” in Gran Tierra’s Annual Report on Form 10-K for the year ended December 31, 2025 filed March 4, 2026 and its other filings with the SEC. These filings are available on the SEC website at http://www.sec.gov and on SEDAR+ at www.sedarplus.ca. Although the current guidance, capital spending program and long term strategy of Gran Tierra are based upon the current expectations of the management of Gran Tierra, should any one of a number of issues arise, Gran Tierra may find it necessary to alter its business strategy and/or capital spending program and there can be no assurance as at the date of this press release as to how those funds may be reallocated or strategy changed and how that would impact Gran Tierra’s results of operations and financial position. Forecasts and expectations that cover multi-year time horizons or are associated with 2P reserves inherently involve increased risks and actual results may differ materially.
All forward-looking statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by Gran Tierra that Gran Tierra believes these forward-looking statements continue to be true as of any subsequent date. Actual results may vary materially from the expected results expressed in forward-looking statements. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. In addition, historical, current and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future.
Non-GAAP Measures
This press release includes non-GAAP financial measures as further described herein. These non-GAAP measures do not have a standardized meaning under GAAP. Investors are cautioned that these measures should not be construed as alternatives to net income or loss, cash flow from operating activities or other measures of financial performance as determined in accordance with GAAP. Gran Tierra’s method of calculating these measures may differ from other companies and, accordingly, they may not be comparable to similar measures used by other companies. Each non-GAAP financial measure is presented along with the corresponding GAAP measure so as not to imply that more emphasis should be placed on the non-GAAP measure.
Net Debt, as presented as at December 31, 2025 is comprised of $741 million (gross) of senior notes outstanding less cash and cash equivalents of $83 million, prepared in accordance with GAAP. Management believes that net debt is a useful supplemental measure for management and investors in order to evaluate the financial sustainability of the Company’s business and leverage. The most directly comparable GAAP measure is total debt.
Operating netback, as presented, is defined as gross profit less depletion and accretion related to producing assets. Operating netback per boe, as presented, is defined as operating netback over WI sales volume. Cash netback, as presented, is most directly comparable to gross profit and is calculated as gross profit adjusted for depletion and accretion related to producing assets, cash G&A expenses, transaction costs, export tax, realized foreign exchange gains or losses, cash settlement on derivative instruments, interest expense excluding amortization of debt issuance costs, interest income, other cash gains or losses, net lease payments, and current income tax expense or recovery. Cash netback per boe, as presented, is defined as cash netback over WI sales volumes. Management believes that operating netback and cash netback are useful supplemental measures for investors to analyze financial performance and provide an indication of the results generated by Gran Tierra’s principal business activities prior to the consideration of other income and expenses. See the table entitled Financial and Operational Highlights above for the components of operating netback and operating netback per boe. A reconciliation from net income or loss to cash netback is as follows:
Year Ended Three Months Ended December 31, December 31, September 30,Operating and Cash Netback - Non-GAAP Measure ($000s) 2025 2024 2025 2024 2025 Gross profit $66,419 $182,637 $851 $22,180 $14,670 Adjustments to reconcile net (loss) income to operating netback Depletion and accretion 264,522 218,417 68,236 60,061 61,908 Operating netback (non-GAAP) 330,941 401,054 69,087 82,241 76,578 Cash G&A expenses (56,873) (41,431) (16,817) (10,191) (13,453)Transaction costs — (5,907) — (4,448) — Export tax (3,287) — (657) — (2,630)Realized foreign exchange (loss) gain (7,694) 915 (2,792) 273 (2,149)Cash settlement on derivative instruments 10,292 1,103 757 1,103 7,461 Interest expense, excluding amortization of debt issuance costs (82,341) (67,548) (21,477) (20,009) (21,178)Interest income 1,090 3,666 217 1,273 197 Other cash gain 1,645 1,478 — 1,478 1,268 Net lease payments (152) 888 (114) 264 (387)Current income tax (expense) recovery (15,859) (69,277) (1,377) (7,855) (4,022)Cash netback (non-GAAP) $177,762 $224,941 $26,827 $44,129 $41,685
EBITDA, as presented, is defined as net income (loss) adjusted for DD&A expenses, interest expense, and income tax expense or recovery. Adjusted EBITDA, as presented, is defined as EBITDA adjusted for asset impairment, non-cash lease expense, lease payments, foreign exchange gains or losses, unrealized derivative instruments gains or losses, transaction costs, other non-cash gains or losses, and stock-based compensation expense. Management uses this supplemental measure to analyze performance and income generated by our principal business activities prior to the consideration of how non-cash items affect that income, and believes that this financial measure is a useful supplemental information for investors to analyze our performance and our financial results. A reconciliation from net income or loss or loss to EBITDA and adjusted EBITDA is as follows:
Year Ended Three Months Ended December 31, December 31, September 30,EBITDA - Non-GAAP Measure ($000s) 2025 2024 2025 2024 2025 Net (loss) income $(193,119) $3,216 $(141,148) $(34,210) $(19,950)Adjustments to reconcile net (loss) income to EBITDA and Adjusted EBITDA DD&A expenses 278,353 230,619 72,535 63,406 64,981 Interest expense 101,309 80,466 28,261 23,752 25,447 Income tax expense (39,753) 41,389 (36,678) 12,299 (11,276)EBITDA (non-GAAP) $146,790 $355,690 $(77,030) $65,247 $59,202 Asset impairment 136,261 — 136,261 — — Non-cash lease expense 5,821 5,923 1,173 1,759 1,187 Lease payments (5,973) (5,035) (1,287) (1,495) (1,574)Foreign exchange gain 8,734 (8,808) 896 (496) 284 Unrealized derivative instruments (gain) loss (8,633) 3,374 (7,669) 3,374 9,527 Transaction costs — 5,907 — 4,448 — Other non-cash (gain) loss (2,558) — (2,913) — 265 Stock-based compensation expense 3,214 9,707 3,042 3,331 143 Adjusted EBITDA (non-GAAP) $283,656 $366,758 $52,473 $76,168 $69,034
Funds flow from operations, as presented, is defined as net income (loss) adjusted for DD&A expenses, asset impairment, deferred tax expense or recovery, stock-based compensation expense or recovery, amortization of debt issuance costs, non-cash interest, non-cash lease expense, lease payments, unrealized foreign exchange gains or losses, unrealized derivative instruments gains or losses, and other non-cash gains or losses. Management uses this financial measure to analyze performance and income or loss generated by our principal business activities prior to the consideration of how non-cash items affect that income or loss, and believes that this financial measure is also useful supplemental information for investors to analyze performance and our financial results. Free cash flow, as presented, is defined as funds flow from operations adjusted for capital expenditures. Management uses this financial measure to analyze cash flow generated by our principal business activities after capital requirements and believes that this financial measure is also useful supplemental information for investors to analyze performance and our financial results. A reconciliation from net income or loss to funds flow from operations and free cash flow is as follows:
Year Ended Three Months Ended December 31, December 31, September 30,Funds Flow From Operations - Non-GAAP Measure ($000s) 2025 2024 2025 2024 2025 Net (loss) income $(193,119) $3,216 $(141,148) $(34,210) $(19,950)Adjustments to reconcile net (loss) income to funds flow from operations DD&A expenses 278,353 230,619 72,535 63,406 64,981 Asset impairment 136,261 — 136,261 — — Deferred tax (recovery) expense (55,612) (27,888) (38,055) 4,444 (15,298)Stock-based compensation expense 3,214 9,707 3,042 3,331 143 Amortization of debt issuance costs 16,943 12,918 4,759 3,743 4,269 Non-cash interest 2,025 — 2,025 — — Non-cash lease expense 5,821 5,923 1,173 1,759 1,187 Lease payments (5,973) (5,035) (1,287) (1,495) (1,574)Unrealized foreign exchange loss (gain) 1,040 (7,893) (1,896) (223) (1,865)Other non-cash (gain) loss (2,558) — (2,913) — 265 Unrealized derivative instruments (gain) loss (8,633) 3,374 (7,669) 3,374 9,527 Funds flow from operations (non-GAAP) $177,762 $224,941 $26,827 $44,129 $41,685 Capital expenditures $256,277 $248,103 $53,040 $78,579 $57,340 Free cash flow (non-GAAP) $(78,515) $(23,162) $(26,213) $(34,450) $(15,655)
DISCLOSURE OF OIL AND GAS INFORMATION
Gran Tierra’s Statement of Reserves Data and Other Oil and Gas Information on Form 51-101F1 dated effective as at December 31, 2025, which includes disclosure of its oil and gas reserves and other oil and gas information in accordance with NI 51-101 and COGEH forming the basis of this press release, is available on SEDAR+ at www.sedarplus.ca. All reserves values, future net revenue and ancillary information contained in this press release as of December 31, 2025 are derived from the GTE McDaniel Reserves Report, unless expressly stated. Any reserves values or related information contained in this press release as of a date other than December 31, 2025 has an effective date of December 31 of the applicable year and is derived from a report prepared by Gran Tierra’s independent qualified reserves evaluator as of such date and have been prepared in compliance with NI 51-101 and the COGEH.
Estimates of net present value and future net revenue contained herein do not necessarily represent fair market value of reserves. Estimates of reserves and future net revenue for individual properties may not reflect the same level of confidence as estimates of reserves and future net revenue for all properties, due to the effect of aggregation. There is no assurance that the forecast price and cost assumptions applied by McDaniel in evaluating Gran Tierra’s reserves and future net revenue will be attained and variances could be material. See Gran Tierra’s press release dated January 28, 2026 for a summary of the price forecasts employed by McDaniel in the GTE McDaniel Reserves Report and other information regarding the disclosed future net revenue.
All evaluations of future net revenue contained in the GTE McDaniel Reserves Report are after the deduction of royalties, operating costs, development costs and abandonment and reclamation costs but before consideration of indirect costs such as administrative, overhead and other miscellaneous expenses. It should not be assumed that the estimates of future net revenue presented in this press release represent the fair market value of the reserves. There are numerous uncertainties inherent in estimating quantities of crude oil and natural gas reserves and the future cash flows attributed to such reserves. The reserve and associated cash flow information set forth in the GTE McDaniel Reserves Report are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual reserves may be greater than or less than the estimates provided therein.
Boes have been converted on the basis of six thousand cubic feet (“Mcf”) natural gas to 1 boe of oil. Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of oil as compared with natural gas is significantly different from the energy equivalent of six to one, utilizing a boe conversion ratio of 6 Mcf: 1 boe would be misleading as an indication of value.
References to a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume. Gran Tierra’s reported production is a mix of light crude oil and medium, heavy crude oil, tight oil, conventional natural gas, shale gas and natural gas liquids for which there is no precise breakdown since the Company’s sales volumes typically represent blends of more than one product type. Drilling locations disclosed herein are derived from the GTE McDaniel Reserves Report and account for drilling locations that have associated Proved Undeveloped and Proved plus Probable Undeveloped reserves, as applicable. Well test results should be considered as preliminary and not necessarily indicative of long-term performance or of ultimate recovery. Well log interpretations indicating oil and gas accumulations are not necessarily indicative of future production or ultimate recovery. If it is indicated that a pressure transient analysis or well-test interpretation has not been carried out, any data disclosed in that respect should be considered preliminary until such analysis has been completed. References to thickness of “oil pay” or of a formation where evidence of hydrocarbons has been encountered is not necessarily an indicator that hydrocarbons will be recoverable in commercial quantities or in any estimated volume.
Future Net Revenue
Future net revenue reflects McDaniel’s forecast of revenue estimated using forecast prices and costs, arising from the anticipated development and production of reserves, after the deduction of royalties, operating costs, development costs and abandonment and reclamation costs and taxes but before consideration of indirect costs such as administrative, overhead and other miscellaneous expenses. The estimate of future net revenue below does not necessarily represent fair market value.
Consolidated Properties at December 31,2025Proved (1P) Total Future Net Revenue ($ million)Forecast Prices and CostsYearsSales RevenueTotal RoyaltiesOperating CostsFuture Development CapitalAbandonment and Reclamation CostsFuture Net Revenue Before Future TaxesFuture TaxesFuture Net Revenue After Future Taxes*2026 - 2030
(5 Years)4,479(883)(1,443)(882)(31)1,240(280)960Remainder3,167(589)(1,413)(5)(345)815(212)603Total (Undiscounted)7,645(1,472)(2,856)(888)(376)2,053(492)1,561Total (Discounted @ 10%) 1,456(318)1,138 Consolidated Properties at December 31,2025Proved Plus Probable (2P) Total Future Net Revenue ($ million)Forecast Prices and CostsYearsSales RevenueTotal RoyaltiesOperating CostsFuture Development CapitalAbandonment and Reclamation CostsFuture Net Revenue Before Future TaxesFuture TaxesFuture Net Revenue After Future Taxes*2026 - 2030 (5 Years)5,222(1,040)(1,550)(1,016)(27)1,589(404)1,185Remainder8,851(1,944)(3,080)(666)(391)2,770(900)1,870Total (Undiscounted)14,073(2,984)(4,629)(1,682)(419)4,359(1,304)3,055Total (Discounted @ 10%) 2,461(703)1,758 Consolidated Properties at December 31,2025Proved Plus Probable Plus Possible (3P) Total Future Net Revenue ($ million)Forecast Prices and CostsYearsSales RevenueTotal RoyaltiesOperating CostsFuture Development CapitalAbandonment and Reclamation CostsFuture Net Revenue Before Future TaxesFuture TaxesFuture Net Revenue After Future Taxes*2026 - 2030
(5 Years)5,790(1,172)(1,613)(1,067)(26)1,911(529)1,382Remainder12,799(3,029)(4,078)(818)(407)4,467(1,516)2,951Total (Undiscounted)18,589(4,202)(5,691)(1,886)(433)6,378(2,044)4,334Total (Discounted @ 10%) 3,317(1,033)2,283
Definitions
Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves.
Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves.
Possible reserves are those additional reserves that are less certain to be recovered than Probable reserves. It is unlikely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable plus possible reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of 3P reserves.
Developed producing reserves are those reserves that are expected to be recovered from completion intervals open at the time of the estimate. These reserves may be currently producing or, if shut-in, they must have previously been on production, and the date of resumption of production must be known with reasonable certainty.
Developed non-producing reserves are those reserves that either have not been on production or have previously been on production but are shut-in and the date of resumption of production is unknown.
Undeveloped reserves are those reserves expected to be recovered from known accumulations where a significant expenditure (e.g., when compared to the cost of drilling a well) is required to render them capable of production. They must fully meet the requirements of the reserves category (proved, probable, possible) to which they are assigned.
Certain terms used in this press release but not defined are defined in NI 51-101, CSA Staff Notice 51-324 - Revised Glossary to NI 51-101 Standards of Disclosure for Oil and Gas Activities (“CSA Staff Notice 51-324”) and/or the COGEH and, unless the context otherwise requires, shall have the same meanings herein as in NI 51-101, CSA Staff Notice 51-324 and the COGEH, as the case may be.
Oil and Gas Metrics
This press release contains a number of oil and gas metrics, including NAV per share, operating netback, cash netback, reserves replacement, and reserve life index which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate the Company’s performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods.
NAV per share is calculated as the applicable NPV10 (before or after-tax, as applicable) of the applicable reserves category minus estimated net debt, divided by the number of shares of Gran Tierra’s common stock issued and outstanding. Management uses NAV per share as a measure of the relative change of Gran Tierra’s net asset value over its outstanding common stock over a period of time.Operating netback and cash netback are calculated as described in this press release. Management believes that operating netback and cash netback are useful supplemental measures for the reasons described in this press release.Reserves replacement is calculated as reserves in the referenced category divided by estimated referenced production. Management uses this measure to determine the relative change of its reserves base over a period of time.Reserve life index is calculated as reserves in the referenced category divided by the referenced production. Management uses this measure to determine how long the booked reserves will last at current production rates if no further reserves were added. Disclosure of Reserve Information and Cautionary Note to U.S. Investors
Unless expressly stated otherwise, all estimates of proved developed producing, proved, probable and possible reserves and related future net revenue disclosed in this press release have been prepared in accordance with NI 51-101. Estimates of reserves and future net revenue made in accordance with NI 51-101 will differ from corresponding GAAP standardized measures prepared in accordance with applicable SEC rules and disclosure requirements of the U.S. Financial Accounting Standards Board (“FASB”), and those differences may be material. NI 51-101, for example, requires disclosure of reserves and related future net revenue estimates based on forecast prices and costs, whereas SEC and FASB standards require that reserves and related future net revenue be estimated using average prices for the previous 12 months and that the standardized measure reflect discounted future net income taxes related to the Company’s operations. In addition, NI 51-101 permits the presentation of reserves estimates on a “company gross” basis, representing Gran Tierra’s working interest share before deduction of royalties, whereas SEC and FASB standards require the presentation of net reserve estimates after the deduction of royalties and similar payments. There are also differences in the technical reserves estimation standards applicable under NI 51-101 and, pursuant thereto, the COGEH, and those applicable under SEC and FASB requirements.
In addition to being a reporting issuer in certain Canadian jurisdictions, Gran Tierra is a registrant with the SEC and subject to domestic issuer reporting requirements under U.S. federal securities law, including with respect to the disclosure of reserves and other oil and gas information in accordance with U.S. federal securities law and applicable SEC rules and regulations (collectively, “SEC requirements”). Disclosure of such information in accordance with SEC requirements is included in the Company’s Annual Report on Form 10-K and in other reports and materials filed with or furnished to the SEC and, as applicable, Canadian securities regulatory authorities. The SEC permits oil and gas companies that are subject to domestic issuer reporting requirements under U.S. federal securities law, in their filings with the SEC, to disclose only estimated proved, probable and possible reserves that meet the SEC’s definitions of such terms. Gran Tierra has disclosed estimated proved, probable and possible reserves in its filings with the SEC. In addition, Gran Tierra prepares its financial statements in accordance with United States generally accepted accounting principles, which require that the notes to its annual financial statements include supplementary disclosure in respect of the Company’s oil and gas activities, including estimates of its proved oil and gas reserves and a standardized measure of discounted future net cash flows relating to proved oil and gas reserve quantities. This supplementary financial statement disclosure is presented in accordance with FASB requirements, which align with corresponding SEC requirements concerning reserves estimation and reporting.
The Company believes that the presentation of NPV10 is useful to investors because it presents (i) relative monetary significance of its oil and natural gas properties regardless of tax structure and (ii) relative size and value of its reserves to other companies. The Company also uses this measure when assessing the potential return on investment related to its oil and natural gas properties. NPV10 and the standardized measure of discounted future net cash flows do not purport to present the fair value of the Company’s oil and gas reserves. The Company has not provided a reconciliation of NPV10 to the standardized measure of discounted future net cash flows because it is impracticable to do so.
2026-03-03 23:552mo ago
2026-03-03 18:492mo ago
Gold Rises on Possible Dip-Buying Amid Ongoing Middle East Conflict
RCM Technologies, Inc. (RCMT - Free Report) closed at $19.23 in the latest trading session, marking a +1.05% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.94%. Meanwhile, the Dow lost 0.83%, and the Nasdaq, a tech-heavy index, lost 1.02%.
Coming into today, shares of the company had lost 9.25% in the past month. In that same time, the Business Services sector lost 2.86%, while the S&P 500 lost 1.3%.
The upcoming earnings release of RCM Technologies, Inc. will be of great interest to investors. The company is expected to report EPS of $0.58, up 18.37% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $81.9 million, indicating a 6.49% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.32 per share and a revenue of $314.83 million, representing changes of +14.29% and +13.09%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for RCM Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, RCM Technologies, Inc. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, RCM Technologies, Inc. is currently being traded at a Forward P/E ratio of 7.46. This indicates a discount in contrast to its industry's Forward P/E of 11.88.
The Staffing Firms industry is part of the Business Services sector. With its current Zacks Industry Rank of 224, this industry ranks in the bottom 9% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
2026-03-03 23:552mo ago
2026-03-03 18:502mo ago
Here's Why SLB (SLB) Fell More Than Broader Market
SLB (SLB - Free Report) closed at $48.58 in the latest trading session, marking a -5.25% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.94% for the day. Elsewhere, the Dow saw a downswing of 0.83%, while the tech-heavy Nasdaq depreciated by 1.02%.
The world's largest oilfield services company's stock has climbed by 6.7% in the past month, exceeding the Business Services sector's loss of 2.86% and the S&P 500's loss of 1.3%.
The upcoming earnings release of SLB will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.62, reflecting a 13.89% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $8.88 billion, showing a 4.57% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.92 per share and a revenue of $37.27 billion, indicating changes of -0.34% and +4.36%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for SLB. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SLB presently features a Zacks Rank of #3 (Hold).
Looking at valuation, SLB is presently trading at a Forward P/E ratio of 17.54. This indicates a premium in contrast to its industry's Forward P/E of 15.15.
We can additionally observe that SLB currently boasts a PEG ratio of 3.49. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Technology Services industry held an average PEG ratio of 1.34.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
2026-03-03 23:552mo ago
2026-03-03 18:502mo ago
KB Home (KBH) Falls More Steeply Than Broader Market: What Investors Need to Know
KB Home (KBH - Free Report) closed the most recent trading day at $60.52, moving -1.06% from the previous trading session. This change lagged the S&P 500's 0.94% loss on the day. Elsewhere, the Dow saw a downswing of 0.83%, while the tech-heavy Nasdaq depreciated by 1.02%.
The homebuilder's shares have seen an increase of 6.27% over the last month, surpassing the Construction sector's gain of 6.21% and the S&P 500's loss of 1.3%.
Market participants will be closely following the financial results of KB Home in its upcoming release. The company is forecasted to report an EPS of $0.53, showcasing a 64.43% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.11 billion, down 20.57% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.19 per share and a revenue of $5.59 billion, indicating changes of -35.74% and -10.38%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for KB Home. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.02% higher. As of now, KB Home holds a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that KB Home has a Forward P/E ratio of 14.61 right now. This signifies a premium in comparison to the average Forward P/E of 14.22 for its industry.
One should further note that KBH currently holds a PEG ratio of 7.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Building Products - Home Builders industry held an average PEG ratio of 1.73.
The Building Products - Home Builders industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 232, placing it within the bottom 6% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
2026-03-03 23:552mo ago
2026-03-03 18:502mo ago
Gilead Sciences (GILD) Registers a Bigger Fall Than the Market: Important Facts to Note
Gilead Sciences (GILD - Free Report) closed at $147.83 in the latest trading session, marking a -1.46% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.94%. Meanwhile, the Dow lost 0.83%, and the Nasdaq, a tech-heavy index, lost 1.02%.
The HIV and hepatitis C drugmaker's stock has climbed by 5% in the past month, exceeding the Medical sector's gain of 2.62% and the S&P 500's loss of 1.3%.
Market participants will be closely following the financial results of Gilead Sciences in its upcoming release. It is anticipated that the company will report an EPS of $1.86, marking a 2.76% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $6.86 billion, reflecting a 2.93% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.66 per share and a revenue of $30.15 billion, indicating changes of +6.26% and +2.4%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Gilead Sciences. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.59% higher. At present, Gilead Sciences boasts a Zacks Rank of #3 (Hold).
Investors should also note Gilead Sciences's current valuation metrics, including its Forward P/E ratio of 17.33. For comparison, its industry has an average Forward P/E of 19.56, which means Gilead Sciences is trading at a discount to the group.
Meanwhile, GILD's PEG ratio is currently 1.97. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.54 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 137, positioning it in the bottom 45% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
2026-03-03 23:552mo ago
2026-03-03 18:502mo ago
Amkor Technology (AMKR) Declines More Than Market: Some Information for Investors
In the latest trading session, Amkor Technology (AMKR - Free Report) closed at $44.59, marking a -6.73% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.94%. Meanwhile, the Dow experienced a drop of 0.83%, and the technology-dominated Nasdaq saw a decrease of 1.02%.
The chip packaging and test services provider's shares have seen a decrease of 0.81% over the last month, surpassing the Computer and Technology sector's loss of 4.34% and the S&P 500's loss of 1.3%.
The investment community will be paying close attention to the earnings performance of Amkor Technology in its upcoming release. The company is expected to report EPS of $0.23, up 155.56% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.65 billion, up 25.01% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.62 per share and a revenue of $7.26 billion, indicating changes of +8% and +8.22%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Amkor Technology. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.1% upward. Currently, Amkor Technology is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Amkor Technology currently has a Forward P/E ratio of 29.45. This indicates a discount in contrast to its industry's Forward P/E of 38.01.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 83, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AMKR in the coming trading sessions, be sure to utilize Zacks.com.
2026-03-03 23:552mo ago
2026-03-03 18:522mo ago
L.B. Foster Company Remains Compelling Even In Light Of A Disappointing Day
L.B. Foster Company remains a "Buy" as shares are still attractively valued despite recent appreciation and a minor Q4 earnings miss. 2025 revenue grew 25.1% YoY to $160.4 million, with EBITDA rising to $13.7 million, though profitability was impacted by a 64.8% effective tax rate. Management forecasts 2026 revenue of $540–$580 million and EBITDA of $41–$46 million, with growth driven by infrastructure spending and strategic business segmentation.
PAR Technology Corporation has shown some progress on several fronts but increasing fears of AI disruption has buffeted the stock. Recent wins, including a major Papa Johns deal and the launch of PAR AI, somewhat validate the single-platform strategy amid industry SaaS and AI concerns. The company just announced a significant stock repurchase program and is projected to see significant profit growth over the next couple of years.
2026-03-03 22:552mo ago
2026-03-03 17:322mo ago
Arista Networks, Inc. (ANET) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
Arista Networks, Inc. (ANET) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 2:30 PM EST
Company Participants
Jayshree Ullal - CEO & Chairperson
Kenneth Duda - Co-Founder, President, CTO & Director
Conference Call Participants
Meta Marshall - Morgan Stanley, Research Division
Presentation
Meta Marshall
Morgan Stanley, Research Division
Thank you for being here. I'll read some boring disclosures to kick off and allow you to open up your chips. So for any research disclosures, please see morganstanley.com/researchdisclosures and reach out to your sales representative with any questions. I am Meta Marshall. I cover the networking space here at Morgan Stanley. We are delighted to have Arista, Jayshree Ullal; and Ken Duda, a new special guest joining us on stage, who is President and CTO as well.
So Jayshree, welcome back. It's been a phenomenal couple of years for Arista since we last had you on stage. Just how do you think the core like value proposition of Arista has changed with kind of AI coming into the framework?
Question-and-Answer Session
Jayshree Ullal
CEO & Chairperson
Meta, it's always good to be here. You must be my good luck charm. Every time I come, if we grow like that, I'll keep coming.
The value proposition, and Ken Duda, our Founder and President, started this hasn't fundamentally changed. But of course, the use cases to make it greater has changed. So we always started with the belief that mission-critical networking needs a foundational software, which started in the data center, as most of you know. And we're now the #1 market leader there. Great technology, great U.S., great merchant silicon and just a great product, but more importantly, a great system. We began with this belief that you had to build a great system with our leaf-spine architecture, but then the leaf got plentiful.
2026-03-03 22:552mo ago
2026-03-03 17:322mo ago
Ingram Micro Holding Corporation (INGM) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
Q4: 2026-03-02 Earnings SummaryEPS of $0.96 beats by $0.05
|
Revenue of
$14.88B
(11.49% Y/Y)
beats by $701.86M
Ingram Micro Holding Corporation (INGM) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 12:15 PM EST
Company Participants
Paul Bay - CEO & Director
Michael Zilis - Executive VP & CFO
Conference Call Participants
Erik Woodring - Morgan Stanley, Research Division
Presentation
Erik Woodring
Morgan Stanley, Research Division
Good morning, everyone. Welcome to Day 2 of the Morgan Stanley TMT Conference. My name is Erik Woodring. I lead the U.S. IT hardware practice here at Morgan Stanley. I'm delighted to be joined by Ingram Micro, the team, Paul Bay, CEO; Mike Zilis, CFO.
Before we do quick introductions, for important disclosures please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. So I'd love everyone to please in welcoming Paul Bay, CEO of Ingram Micro, Mike Zilis, EVP and CFO. Both mainstays of the company, have been around for a long time. know the company extremely well, obviously. So it going to be a great conversation. Thank you for joining us.
Paul Bay
CEO & Director
Thanks for having us. Glad to be here.
Question-and-Answer Session
Erik Woodring
Morgan Stanley, Research Division
So the easiest and most natural place to kind of start the conversation is recapping 4Q earnings from last night amid a very red day in the market. There are spots of green and Ingram Micro is one of those spots. So congratulations on the execution. Can you just touch maybe highlights from the December quarter, highlights for the year of 2025 and maybe what the message is as we're entering a very dynamic 2026.
Paul Bay
CEO & Director
Yes. So I'll start and then Michael will obviously jump in. So we had great growth for Q4, 11.5% revenue growth. We exceeded the high end of
2026-03-03 22:552mo ago
2026-03-03 17:322mo ago
Manhattan Associates, Inc. (MANH) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
Manhattan Associates, Inc. (MANH) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 2:30 PM EST
Company Participants
Eric Clark - President, CEO & Director
Sanjeev Siotia - Executive VP & CTO
Conference Call Participants
Christopher Quintero - Morgan Stanley, Research Division
Presentation
Christopher Quintero
Morgan Stanley, Research Division
Perfect. Let's go ahead and get started here. So thank you, everyone, for joining. My name is Chris Quintero. I'm the back-office software analyst here at Morgan Stanley. And I'm really excited to be joined by the Manhattan team here, Eric Clark, CEO; and Sanjeev Siotia, CTO. Thank you all for being here.
Eric Clark
President, CEO & Director
Thank you. Thanks for having us.
Christopher Quintero
Morgan Stanley, Research Division
Absolutely. For important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative.
Question-and-Answer Session
Christopher Quintero
Morgan Stanley, Research Division
So to kick things off, for investors who maybe aren't as familiar with Manhattan Associates, maybe you can give us a quick overview of what you all do, key products, who your core customers are.
Eric Clark
President, CEO & Director
Yes. So Manhattan has been in business for 30-plus years, always focused on the supply chain and commerce space. So our key products are across warehouse management, transportation management, order management, point-of-sale and supply chain planning. And about 10, 12 years ago, Manhattan recreated itself as a cloud company. So now all of those products are available on our cloud platform that we call the active platform. And over the past 10 years, we've been in the process of converting our on-prem customers into the cloud. At the same time, we've been aggressively in the market going after new logo customers and taking market share from the competition.
2026-03-03 22:552mo ago
2026-03-03 17:322mo ago
Sarepta Therapeutics, Inc. (SRPT) Presents at TD Cowen 46th Annual Health Care Conference Transcript
UDR, Inc. (UDR) Citi's Miami Global Property CEO Conference 2026 March 3, 2026 11:40 AM EST
Company Participants
Tom Toomey - Chairman, President & CEO
Michael Lacy - Senior VP & COO
David Bragg - Senior VP & CFO
Christopher Van Ens - Senior Vice President of Investment Strategy
Conference Call Participants
Eric Wolfe - Citigroup Inc., Research Division
Presentation
Eric Wolfe
Citigroup Inc., Research Division
2026 Global Property CEO Conference. I'm Eric Wolfe with Citi Research, and we are pleased to have with us UDR and CEO, Tom Toomey. This session is for Citi clients only and disclosures have been made available at the corporate access desk. To ask a question, you can raise your hand or go to liveqa.com and enter code GPC-26 to submit questions. Tom, we'll turn it over to you to introduce your team, give some opening remarks and tell investors the top reasons to own your stock today. And I think it's confusing because it has to be read. So I think you got to press that button there.
Tom Toomey
Chairman, President & CEO
Again, thank you for all attending this. We look forward to our conversations and the Q&A portion of it. Eric, a special thanks to you and the team. I'm thinking back that I might have been to 30 of these now, and you guys a great job at that. So congratulations. So let me begin with introductions. And to my left is Dave Bragg, our CFO. To my right is Mike Lacy and our COO; and Chris Van Ens, who does a lot of things. So we'll leave it at that for Chris. But all of you should have, if not, please raise your hand -- focus on our value creation mechanisms primarily through operations, continual innovation and capital allocation. So where are we at in this part of the cycle? How do we see the business evolving and strategies? I think we'll get
2026-03-03 22:552mo ago
2026-03-03 17:332mo ago
SPYT: Covered Call Strategy As An Alternative To Fixed Income
The Defiance S&P 500 Target Income ETF offers a hybrid approach, blending equity risk with high monthly income via a call spread strategy. SPYT targets a 20%+ distribution yield, with recent payouts at 21.41%, but most distributions are return of capital, impacting tax treatment and cost basis. I view SPYT as best suited for income-focused investors seeking equity exposure rather than those prioritizing capital growth or S&P 500 outperformance.
2026-03-03 22:552mo ago
2026-03-03 17:352mo ago
Gold and silver rallies likely on pause despite new tariffs, higher inflation, and Middle East escalation – StoneX's O'Connell
Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.
2026-03-03 22:552mo ago
2026-03-03 17:362mo ago
Amazon's Drop Was Loud, But Its Rebound Could Be Louder
After starting the year reasonably well, tech titan Amazon.com Inc NASDAQ: AMZN has been under pressure since. Its shares tumbled more than 20% into mid-February and were still roughly 18% below their 2026 high in early March. The move lower was not only sharp but also sustained, with the bulls, unusually for Amazon, barely putting up a fight.
Beneath the volatility, the business itself tells a similarly complicated story. Revenue in the February earnings report rose 14% year-over-year, beating expectations, but earnings saw a rare miss. This was made worse by a 2026 capital expenditure (CapEx) forecast of roughly $200 billion, a staggering 50% increase from the prior year.
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Given how sensitive markets have become to balance sheet discipline, that CapEx number alone was enough to rattle confidence and trigger a swift drop. But was this truly the start of something more troubling for Amazon, or has the market overreacted to a bold investment cycle that could ultimately strengthen its dominance? Let’s jump in and take a look.
Why Amazon Sold Off To answer that question, it’s important to note that investors didn’t panic because Amazon’s core business is deteriorating—they panicked because of scale and uncertainty.
Amazon.com Today
$208.73 +0.34 (+0.16%)
As of 04:00 PM Eastern
52-Week Range$161.38▼
$258.60P/E Ratio29.11
Price Target$287.29
The $200 billion spending plan, largely earmarked for artificial intelligence (AI) and data center initiatives, lacked a clearly defined payback timeline.
Investors’ concern about this was compounded by the company’s latest free cash flow figure, which showed a more than 70% year-on-year decline, driven by 2025’s aggressive spending.
Increased spending and decreased cash are a dangerous combination in the best of times, and the fear here is understandable.
Amazon is going all-in on expanding AI infrastructure without offering much visibility into future returns, and shareholders are right to be spooked by how binary this feels. Big spending cycles like this can make or break a company’s trajectory for years.
This is the tension investors are now wrestling with. Is this a CapEx cycle that locks in Amazon’s AI leadership for the next decade, or is it reckless overspending in an arms race?
What the Market May Be Missing However, while the spending headlines might be getting all the attention, another figure from last month’s report deserves equal focus. Amazon’s AWS revenue grew 24% year-over-year, accelerating at its fastest pace in more than three years. AWS now accounts for more than half of Amazon’s operating income, making it the core economic engine of the company, and that has to count for something.
AWS is directly tied to AI infrastructure demand. Enterprises deploying AI workloads require scalable cloud computing, storage, and processing power. Amazon’s $200 billion in forecasted CapEx is a targeted investment in the very infrastructure underpinning AWS’s growth.
In addition, AWS margins have remained solid, so if AI demand continues accelerating, the return on this CapEx should be both durable and juicy.
The Case for a Rebound The price action is beginning to reflect the potential upside here. Amazon shares haven’t set a fresh low since the middle of last month, and have instead begun consolidating above the $200 level. That stabilization suggests much of the panic may already be priced in.
Amazon.com, Inc. (AMZN) Price Chart for Tuesday, March, 3, 2026
Analyst sentiment reinforces this interpretation. Evercore and Wells Fargo both reiterated bullish stances in the past week, echoing those from New Street Research and Citigroup earlier this month. Fresh price targets range up to $304, implying nearly 50% upside from current levels—not bad for a $2.2 trillion company.
Importantly, the drop in share price has pushed Amazon’s valuation to one of its lowest readings in years, which, all things considered, makes it look attractively valued.
Technical Confirmation While the bullish thesis rests on business fundamentals and recent price action, the stock’s technical indicators are now also confirming the shift in momentum.
Amazon’s relative strength index (RSI) has turned upward from extremely oversold levels, indicating that selling pressure has likely peaked. At the same time, its moving average convergence/divergence (MACD) just logged a bullish crossover, further signaling the bulls are in control. These indicators alone won’t drive a recovery, but they often signal when sentiment has shifted.
The key level to watch remains the $200 area. As long as shares hold above it and begin forming higher lows in the weeks ahead, the case for a recovery strengthens. However, a decisive break below would challenge the rebound thesis and likely mean fresh lows.
Amazon’s drop was loud because the spending number was loud. If it can thread the needle between ambition and execution, its rebound could be louder.
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2026-03-03 22:552mo ago
2026-03-03 17:402mo ago
KKR's Henry McVey talks navigating market anxiety amid geopolitical tensions
Iridium Communications Inc. (IRDM) 47th Annual Raymond James Institutional Investor Conference March 3, 2026 3:25 PM EST
Company Participants
Vincent O'Neill - Chief Financial Officer
Conference Call Participants
Ric Prentiss - Raymond James & Associates, Inc., Research Division
Brent Penter - Raymond James & Associates, Inc., Research Division
Presentation
Ric Prentiss
Raymond James & Associates, Inc., Research Division
I'm Ric Prentiss, Head of TMT Research at Raymond James. As you all know, we referred to in my space, T for Towers, M for Media, T for Telecom Satellite Services. So on the 47th Annual Raymond James Institutional Investor Conference, my 30th Institutional Conference at Raymond James. We're pleased to have Vince O'Neill, CFO of Iridium, with us. Brent is going to run it from here. So Brent, Vince, you're on.
Vincent O'Neill
Chief Financial Officer
Thanks, Ric.
Brent Penter
Raymond James & Associates, Inc., Research Division
Thanks for the introduction, Ric.
Question-and-Answer Session
Brent Penter
Raymond James & Associates, Inc., Research Division
Yes. Thanks to everyone for being here in Orlando for the Institutional Investor Conference. Thanks, Vince, for joining us. This is an all-cap, all sector conference. So there's a lot of generalists, international investors, a lot of PMs here.
So can you start us off just an introduction to Iridium, who you are and where you fit into -- obviously, there's a lot of excitement right now about space and satellite, where you fit into that equation?
Vincent O'Neill
Chief Financial Officer
Sure. Thanks, Brent. Good to be here. Yes, just high level for us, we operate in the mobile satellite spectrum space. We have a network that covers the globe. So just very quickly, our network architecture is 66 satellites, 6 planes of 11 satellites in each plane. And they're constantly circumferencing around the globe. The importance of that is that you always get a signal no matter where you are
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Teradata Corporation (TDC) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
Okay. Cool. Why don't we get started, guys. Welcome to day 2 afternoon of day 2 of the Flagship TMT Conference. My name is Erik Woodring. I lead Morgan Stanley's hardware coverage here. I am delighted to be joined by John Ederer, CFO of Teradata; Sumeet Arora, Teradata's Chief Product Officer. Both of you guys, thank you and welcome to the conference.
John Ederer
Chief Financial Officer
Thanks for having us.
Question-and-Answer Session
Erik Woodring
Morgan Stanley, Research Division
Before we begin, let me point everyone to the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. So with that out of the way, this is the first time that I've been able to host both of you at the TMT conference both relatively new to the role that you're sitting in right now.
I'd love just to start the conversation, just quick background, maybe 1 or 2 priorities for each of you as you think about the changes you want to kind of enact in your relative seats, and then we'll go from there.
John Ederer
Chief Financial Officer
Sure. Well, I'll kick things off, even though Sumeet predated me by about 30 days. But yes, I joined last May and very excited to be on board. I've been in the software industry for 20-plus years. And before that, I actually started in your chair, I was a research analyst for about a decade before making the jump over. And so spent a lot of time in enterprise software, most recently
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Alphabet Inc. (GOOGL) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
Alphabet Inc. (GOOGL) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 3:20 PM EST
Company Participants
Anat Ashkenazi - Senior VP & CFO
Conference Call Participants
Brian Nowak - Morgan Stanley, Research Division
Presentation
Brian Nowak
Morgan Stanley, Research Division
All right. Good afternoon, everyone. We're thrilled for our next fireside chat to have Anat Ashkenazi with us from Alphabet. Thank you so much for joining us.
Anat Ashkenazi
Senior VP & CFO
Well, thank you for having us here today and for everyone who's joining today to listen to the Alphabet story and your interest, yes.
Brian Nowak
Morgan Stanley, Research Division
It's always good to see the catch up on everything going on at Alphabet and around the world. A lot has changed in the year, which we will get to in perception at least.
But first, the disclosures. Please note that all important disclosures, including personal holdings disclosures and Morgan Stanley disclosures, appear on the Morgan Stanley public website at www.morganstanley.com/researchdisclosures. They are also available at the registration desk. Some of the statements made today by Ms. Ashkenazi may be considered forward-looking. These statements involve a number of risks and uncertainties that could cause actual results to differ materially. Please refer to Alphabet's Forms 10-K or Q including the risk factors discussed in any of these filings. Any forward-looking statements made today are based on assumptions as of today, and Alphabet undertakes no obligation to update them.
Question-and-Answer Session
Brian Nowak
Morgan Stanley, Research Division
With that, there's a lot going on with the company. So you've -- let's sort of take a step back. One year ago, we were sitting here, Alphabet was about a $2 trillion company. The discussions in the hallways and just in general on Wall Street were around search disruption, long-term positioning versus new search entrants, how to think about the
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BCE Inc. (BCE:CA) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript
BCE Inc. (BCE:CA) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 3:20 PM EST
Company Participants
Mirko Bibic - CEO, President & Director
Conference Call Participants
Benjamin Swinburne - Morgan Stanley, Research Division
Presentation
Benjamin Swinburne
Morgan Stanley, Research Division
Okay. I'm Ben Swinburne, Morgan Stanley's telecom and media analyst. Quick disclosures. For important disclosures, please see the Morgan Stanley research disclosure website at morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales rep.
And we are excited, I think, to welcome to the conference, I believe, for the first time, Mirko Bibic, who has served as President and CEO of Bell and Bell Canada since January of 2020. Mirko, thanks for being here.
Mirko Bibic
CEO, President & Director
Thank you, Ben. Glad to be here.
Question-and-Answer Session
Benjamin Swinburne
Morgan Stanley, Research Division
So you had an Investor Day, as you know, back in October, laid out a long-term vision for the company, a 3-year strategic plan. Revenue growth of 2% to 4%, adjusted EBITDA of 2% to 3% through '28. Why don't we start, level set for the audience sort of the key pillars underpinning that growth outlook for the business?
Mirko Bibic
CEO, President & Director
Yes. So thanks for the question. Throughout the course of 2025 last year, we really set about kind of outlining with clarity a forward-looking capital markets and operational strategy. Obviously, they work hand in glove. And you've now got before you a BC and the Bell Canada, essentially a renewed energy, renewed vigor, a lot of optimism around the plan. And I think from an investor point of view, what I'd really highlight is, as a management team, we've declared ourselves, like we've outlined what we are going to do over the next 3 years. And so now we've got a management team that's focused entirely on
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Sagimet Biosciences Inc. (SGMT) Presents at Oppenheimer 36th Annual Healthcare Life Sciences Conference Transcript
Sagimet Biosciences Inc. (SGMT) Oppenheimer 36th Annual Healthcare Life Sciences Conference February 26, 2026 9:20 AM EST
Company Participants
David Happel - CEO, President & Director
Eduardo Martins - Chief Medical Officer
Robert D’Urso - Senior Vice President of New Products
Thierry Chauche - CFO & Principal Accounting Officer
Conference Call Participants
Jay Olson - Oppenheimer & Co. Inc., Research Division
Presentation
Jay Olson
Oppenheimer & Co. Inc., Research Division
Welcome to Oppenheimer's 36th Annual Life Science Conference. I'm Jay Olson, one of the biotech analysts here at Oppenheimer. And it's a pleasure to welcome you to our discussion with Sagimet Biosciences. And it's an honor to introduce Dave Happel, the CEO of Sagimet; Rob D’Urso, SVP of New Products; Eduardo, Chief Medical Officer; and Thierry, the Chief Financial Officer. Thanks so much guys for bringing your team here today and making time for us.
David Happel
CEO, President & Director
Thanks, Jay. Thanks for the invitation. Great to be here.
Jay Olson
Oppenheimer & Co. Inc., Research Division
It's our pleasure, and we're super excited about Sagimet. You've got a lot of interesting things going on. So it's good timing for the discussion. For those who may not be so familiar with the Sagimet study, Dave, would you like to give us a quick overview?
David Happel
CEO, President & Director
Yes, sure. Thanks, Jay. So Sagimet is a clinical-stage biopharmaceutical company. And our approach really begins with understanding how overexpression or overactivity of fatty acid synthase or FASN plays such a critical role in the development of a number of underserved conditions and our primary focus in MASH, acne in certain solid tumors that are dependent upon FASN for progression of disease. To solve for this overactivity of FASN, we've developed a portfolio of FASN inhibitors led by our lead program, denifanstat, they really target an underlying cause that is
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Jacobs Solutions Inc. (J) Presents at 47th Annual Raymond James Institutional Investor Conference Transcript
Jacobs Solutions Inc. (J) 47th Annual Raymond James Institutional Investor Conference March 3, 2026 10:25 AM EST
Company Participants
Venkatesh Nathamuni - Executive VP & CFO
Robert Pragada - CEO & Chair of the Board
Conference Call Participants
Brian Gesuale
Presentation
Brian Gesuale
I'm Brian Gesuale, covering analyst of Jacobs Solutions. Really delighted to have the company here to present their story. If it's not obvious, we're going to do a fireside chat appearance. If there are some questions from the audience, please raise your hand, and we'll try to get to those as we go through. But I have Bob Pragada, Chief Executive Officer, here joining me; and Venk Nathamuni, Chief Financial Officer here, joining me as well to take us through the story. Welcome, guys.
Venkatesh Nathamuni
Executive VP & CFO
Thank you, that's fine.
Question-and-Answer Session
Brian Gesuale
Bob, maybe we level set here, take a few minutes to set the audience and give investors a perspective on your core services that you provide, the markets you serve, the geographic footprint that you have and really Jacobs right to win.
Robert Pragada
CEO & Chair of the Board
Sounds good. So just as an overview, we are in the technical advisory, engineering and program delivery market around 3 main verticals. Those 3 verticals are the life sciences and advanced manufacturing world. I'll come back to that in a second. Second is around water and environmental. And our third is what we call critical infrastructure. Critical infrastructure embodies transportation, energy and power and our cities and places business as well.
And that really came from deep core roots in the engineering space dating all the way back to the 1940s. I think where we play the strongest is some of the biggest technology innovation as well as some
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Archer Aviation Sinks 11% While Quantum Computing Inc Fall 10% After Earnings
Two of the market’s most closely watched speculative growth names got hit hard on Tuesday. Archer Aviation (Nasdaq: ACHR) fell 10.77%, closing at $6.71 from $7.52, while Quantum Computing Inc. (Nasdaq: QUBT) dropped 10.01%, closing at $7.73 from $8.59. Both companies reported earnings after the close on Monday, and neither report gave investors a reason to stay long into a rough tape.
Archer’s Numbers: Historic Milestone, Heavy Losses Archer reported Q4 2025 revenue of $300,000, a figure that is a milestone for the company: it represents the company’s first-ever revenue recognition. The company posted an EPS loss of -$0.26 for the quarter, with a net loss of $188.9 million and operating expenses of $234.70 million, partly inflated by a $36.10 million jump in non-cash stock-based compensation.
The headline certification news was genuinely significant. Archer became the first eVTOL manufacturer to achieve 100% FAA acceptance of all 797 Means of Compliance for its Midnight aircraft. That is a real structural milestone. But the forward guidance was a cold shower for anyone hoping burn rates would ease. The company guided Q1 2026 Adjusted EBITDA to a loss of $160 million to $180 million.
CEO Adam Goldstein struck a confident tone on the call. “My job is to drive execution: fly aircraft, deploy them in cities, complete certification, scale manufacturing, and deliver to the customers who are waiting.” That is a clear mandate. The market’s response suggests investors want to see it executed before pricing it in. Archer does enter 2026 with roughly $2.0 billion in total liquidity, which buys time, but the stock is now down 17% year to date.
Keep in mind for Archer (and for Quantum Computing), momentum stocks began the day deeply in the red. We’ll touch on this more later, but it was a tough environment today, regardless of results.
Quantum Computing: Revenue Miss Stings Quantum Computing reported Q4 2025 revenue of $198,000, missing the consensus estimate of $398,330 by more than 50%. On the EPS line, the company actually beat, posting -$0.01 against an estimate of -$0.04.
The underlying business is still early stage. Operating income came in at -$22.2 million, and the net loss of $1.56 million was aided by a $6.97 million derivative gain and $13.63 million in investment income. Strip those out and the operating picture is materially worse. QUBT does hold a fortress balance sheet, with cash and investments exceeding $1.52 billion at year-end after raising over $1.5 billion in 2025, including a $750 million private placement that was oversubscribed.
CEO Yuping Huang pointed to strategic progress, including the opening of Fab 1 and the post-quarter acquisition of Luminar Semiconductor. “We are now seeing early customer engagement and revenue contribution from our foundry services and product portfolio as we continue progressing toward broad scale commercialization.” Early is the operative word. QUBT is now down 30% year-to-date.
Macro Made It Worse Neither stock had a specific additional catalyst beyond earnings driving the selling. Tuesday brought a broad risk-off session that hit momentum and speculative growth names particularly hard. Both ACHR and QUBT fit squarely in that bucket, which compounded the post-earnings pressure and left little room for buyers to step in.
Watch whether either name stabilizes near current levels or continues to drift. For Archer, the next meaningful data point will be progress on FAA Type Inspection Authorization activities later in 2026. For Quantum Computing, investors will be focused on whether actual revenue can start closing the gap with the company’s rapidly expanding balance sheet. Wall Street expects $35 million in revenue in 2027 after $1.5M in the current year.
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AIxCrypto Co-CEO Jerry Wang Shares Weekly Investor Update: Scaling the Ecosystem, Hub S2 Momentum, and AI Agent Framework Development
LOS ANGELES, March 3, 2026 /PRNewswire/ -- AIxCrypto Inc. (NASDAQ: AIXC) ("AIxC" or the "Company"), a technology company focused on Embodied AI (EAI) infrastructure, today shared a weekly business update from Co-CEO Jerry Wang. Strategic Refinement – Concentration on RWA and EAI Infrastructure During the week, Jerry Wang shared reflections on AIxC's evolving strategic direction.
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NFI Group Hosts Ribbon-Cutting Ceremony to Officially Open New Flyer's All-Canadian Build Facility in Winnipeg
New facility strengthens domestic supply chain, creates skilled manufacturing jobs, and supports Canada’s transition to clean transportation
WINNIPEG, Manitoba, March 03, 2026 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI) a leading global manufacturer of buses and coaches, along with its subsidiary New Flyer Industries Canada ULC (New Flyer), is proud to celebrate a major milestone in Canadian manufacturing with the official ribbon-cutting of its new Customer Acceptance and Delivery (CAD) facility in Winnipeg.
Today’s event marks the next phase of NFI’s ongoing manufacturing expansion, following significant federal and provincial investment, alongside NFI’s internal funding. The CAD facility enables NFI to complete full domestic production of heavy-duty transit vehicles, including zero-emission buses, in Winnipeg for the first time in 15 years.
The ribbon-cutting follows national attention on NFI’s Canadian expansion, which further supports Manitoba’s leadership position as a hub for heavy-duty manufacturing. Construction of the CAD facility began in late 2024, and the first buses entered production in September 2025. NFI was proud to deliver the first All-Canadian build to customer Durham Transit in December 2025. This facility expands New Flyer’s production capacity by up to 240 equivalent units per annum by 20271, with four line entries expected per week. It also enables New Flyer’s U.S. facilities to increase their focus on supporting production for customers across America, creating a win-win for both regions.
“We are extremely proud to officially open our new facility that achieves a strategic goal of enabling complete, start-to-finish Canadian bus manufacturing for Canadian customers,” said John Sapp, President and Chief Executive Officer, NFI Group. “This is a major milestone for our company, the province and the country as it creates hundreds of highly skilled jobs and a stronger domestic supply chain, alongside enhanced zero-emission production capabilities.”
“Canada is world-renowned for its manufacturing strength and highly skilled workforce,” said the Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions. “New Flyer’s new facility will design, engineer, and build the transit buses that Canadians rely on – right here in Winnipeg. This investment will continue to create hundreds of well-paying jobs and strengthen our domestic supply chain through an all-Canadian manufacturing hub.”
“The world has changed, and Canada must strengthen its domestic capacity in critical industries. Today’s ribbon-cutting in Winnipeg marks a defining moment in Canadian manufacturing, and our government is pleased to have supported those efforts. For the first time in 15 years, buses built by Canadians, for Canadians, will be manufactured—from start to finish—on Canadian soil. On behalf of Canada’s new government, congratulations to New Flyer and all involved in the All-Canadian Build initiative. This is building Canada strong in action,” said The Honourable Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada
“This project is about putting a ‘Made in Canada’ stamp on the low-carbon economy. Here in Manitoba, blue-collar workers are helping drive a safe and healthy future, and companies like NFI are leading the charge,” said Premier Wab Kinew. “By bringing full bus manufacturing back to Winnipeg, this facility strengthens our domestic supply chain, creates good jobs, and reinforces Manitoba’s position at the cutting edge of zero-emission transportation technology.”
“In a world where supply chains and countries are looking inward, Manitoba is stepping up to the plate with homegrown solutions. Because we have what Canada needs – the workers, the innovation, and the determination. And today’s ribbon cutting showcases this as New Flyer celebrates the All-Canadian Build where buses for Canadians are built by Canadians on Canadian soil, right here in Winnipeg. Congratulations to all who have worked to make this vision a reality,” said Ginette Lavack, Parliamentary Secretary to the Minister of Indigenous Services and Member of Parliament for St. Boniface – St. Vital, Manitoba.
Today’s ribbon-cutting event included the Honourable Mélanie Joly, Ginette Lavack, Parliamentary Secretary to the Minister of Indigenous Services and Member of Parliament for St. Boniface–St. Vital, Ben Carr, Member of Parliament for Winnipeg South Centre, Manitoba Premier Wab Kinew, City of Winnipeg Mayor Scott Gillingham, CUTRIC President and CEO Dr. Josipa Petrunic, NFI President and CEO John Sapp, former NFI President and CEO Paul Soubry, Unifor Western Regional Director Gavin McGarrigle, and leadership from the IAM Union.
About NFI
Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today’s urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation.
With nearly 9,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), Plaxton (motorcoaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 100,000 buses and coaches around the world. NFI’s common shares trade on the Toronto Stock Exchange (TSX) under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol NFI.DB. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, nfi.parts, www.alexander-dennis.com, arbocsv.com, and carfaircomposites.com.
For media inquiries, please contact:
Melissa Schnee
P: 385.910.6861 [email protected]
For investor inquiries, please contact:
Stephen King
P: 204.792.1300 [email protected]
1 NFI’s transit bus production is measured in, or based on, “equivalent units” (or "EUs"). One EU represents one production “slot”, being one 35- foot or 40-foot one transit bus, while an articulated 60’ transit bus represents two EUs.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6b71149a-7539-4d82-a1fa-4549f89b78c7
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VeeaVision AI for Real-Time Intelligent Visual Automation with IoT Data Fusion — Powered by TerraFabric™
VeeaVision enables cybersecure Agentic AI to enhance productivity, privacy, safety, and operational resilience across enterprise environments March 03, 2026 17:47 ET | Source: Veea Inc.
BARCELONA, Spain, March 03, 2026 (GLOBE NEWSWIRE) -- At Mobile World Congress 2026, Veea, Inc. (NASDAQ: VEEA) today announced the commercial availability of VeeaVision AI, a real-time edge vision application delivering intelligent automation powered by the TerraFabric™ platform — Veea’s unified control plane for deploying, operating, and scaling AI + IoT solutions across real-world environments.
Following live demonstrations at MWC Barcelona 2025, Veea has spent the past year commercializing VeeaVision AI and deeply integrating it with TerraFabric. The result is a production-grade solution now running in active field deployments across multiple markets.
VeeaVision AI enables enterprises to move beyond traditional “detect and report” systems toward a new paradigm: detect, decide, and act autonomously under explicit identity, scope, and policy controls in real time at the edge.
The Veea AI Platform: The Backbone for Edge AI + IoT
The Veea AI Platform serves as a reusable, secure foundation for AI-driven operational applications across industries. It provides:
Edge AI runtime and acceleration for real-time inferenceDistributed orchestration and lifecycle management across sites and fleetsSensor fusion pipelines that correlate video, IoT signals, and contextual dataSecurity, identity, and policy enforcement for operational environmentsAgentic AI integration with connected cameras, sensors, and enterprise systems
This platform-first architecture allows enterprises and system integrators to rapidly deploy new applications while maintaining consistent security, governance, and operational control.
VeeaVision AI: Real-Time Visual Intelligence Across Markets
Built on the Veea AI Platform and orchestrated through TerraFabric, VeeaVision AI delivers:
Multi-camera ingestion and real-time analyticsConfigurable zones, rule engines, and event logicLocal-first recording, event timelines, and secure evidence captureIoT data fusion to enrich context and reduce false positives By combining vision intelligence with sensor data and automation logic, VeeaVision AI transforms passive monitoring into proactive, autonomous operational control.
From Detection to Action: Automated Safety and Security Response
A key differentiator of the Veea AI Platform is its ability to trigger automated, policy-driven responses when hazards or security events are detected. Depending on customer configuration and site policies, response workflows can include:
Hazard detection (restricted-zone violations, unsafe proximity, fire or gas leaks, abnormal behavior, and site-specific risk conditions)Intrusion and unauthorized access detection with real-time escalationAutomatic on-site deterrence, including strobe activation and audio warningsReal-time notifications via SMS and integrated alert channelsEscalation workflows integrated with enterprise or emergency response procedures
These capabilities reduce response times, standardize incident handling, and improve safety—particularly in environments operating 24/7 or across large geographic footprints. “Safety and security shouldn’t depend on someone detecting an event on a monitor at the right moment,” said Balaji Tamirisa, SVP of engineering for Edge AI and IoT Devices at Veea. “With the Veea AI Platform as the backbone, VeeaVision AI becomes an application that can be adapted across many market segments — delivering hazard management, intrusion prevention, and automated actions that keep people and property safer.”
Expanding to Agentic AI Workflows with TerraFabric
Beyond vision-based safety automation, TerraFabric enables a broader class of Agentic AI workflows that coordinate perception, reasoning, and action across distributed sites. Examples include:
Autonomous compliance agents that continuously monitor safety policies and automatically adjust site access controlsEnergy optimization agents that correlate occupancy, equipment usage, and sensor data to dynamically manage HVAC and power consumptionLogistics orchestration agents that track yard movement, loading zones, and inventory flow to reduce bottlenecksRetail loss-prevention agents that utilize video analytics to detect theft and fraud patterns in real timeCritical infrastructure agents that detect anomalies in equipment telemetry and initiate preventative maintenance workflows
These intelligent agents operate under TerraFabric’s governance model — ensuring identity-based access, policy constraints, auditability, and controlled rollout — enabling enterprises to scale autonomous operations without sacrificing security or compliance.
In large construction projects, VeeaVision AI integrates with sensors and worker-tracking systems to deliver measurable outcomes:
Improved safety through real-time situational awareness and policy enforcementReduced incidents via automated deterrence and escalationImproved schedule adherence by correlating site activity with project milestonesUnified operations by combining video evidence with IoT-based context Serving Mission-Critical Industries
The Veea AI Platform supports applications across sectors where safety, security, data loss, automation, and resilience are essential, including:
Construction and temporary site deploymentsUtilities and critical infrastructureLogistics, warehouses, and distribution yardsEnergy and industrial operationsEnterprise campusesSmart communities and public venues The same platform backbone supports market-specific applications tailored to each customer’s operational profile, risk tolerance, and compliance requirements.
Allen Salmasi, Co-Founder, Chairman and CEO of Veea, stated: “With VeeaVision AI powered by TerraFabric, we are enabling enterprises to transition from passive monitoring to governed autonomy at the edge. By unifying AI inference, IoT context, cybersecurity, and policy-driven orchestration, we are laying the foundation for intelligent, self-optimizing operational environments.”
Availability
The Veea AI Platform and VeeaVision AI are commercially available now as configurable deployments tailored to camera density, sensor integrations, data retention policies, and automated response requirements.
About Veea Inc.
Veea Inc. (NASDAQ: VEEA) is a global leader in AI-driven edge infrastructure. Founded in 2014 and headquartered in New York City, Veea’s platform integrates connectivity, computing, cybersecurity, storage, and AI into a unified solution for edge deployments ranging from SMBs to enterprise campuses, smart industries, and remote communities. With more than 123 patents across related technology domains, Veea has been recognized by Gartner for its edge computing innovation.
Certain statements in this press release constitute “forward-looking statements.” Such forward-looking statements are often identified by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “forecasted,” “projected,” “potential,” “seem,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, among other things, statements relating to the intended use of proceeds from our future offerings. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability of Veea to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the uncertainty of the projected financial information with respect to Veea; risks related to the price of Veea’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Veea plans to operate, variations in performance across competitors, changes in laws and regulations affecting Veea’s business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive.
All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company's business strategies, and the risk and uncertainties described in “Risk Factors,” “Management's Discussion and Analysis of Financial Condition and Results of Operations,” “Cautionary Note on Forward-Looking Statements” and the additional risk described in Veea’s annual report on Form 10-K for the year ended December 31, 2024, quarterly reports on Form 10-Q, registration statements on Form S-1, and any other filings which Veea makes with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.
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2026-03-03 22:552mo ago
2026-03-03 17:482mo ago
Paycom Software Combines Exceptional Value Creation With Impressive Growth
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in PAYC, PAYX over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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2026-03-03 22:552mo ago
2026-03-03 17:482mo ago
Builders FirstSource: Need Clearer Signs Of Recovery Before I Turn Bullish (Rating Upgrade)
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
2026-03-03 22:552mo ago
2026-03-03 17:512mo ago
EIPI: Diversified Energy Exposure For Income Investors
First Trust Energy Income Partners Enhanced Income ETF offers diversified, actively managed energy sector exposure with a focus on maximizing total returns and current distributions. EIPI combines active security selection, broad energy subsector allocation, and a 45% covered call overwrite to enhance income and manage volatility. The fund yields 6.76% with monthly distributions but carries a 1.11% expense ratio and moderate liquidity constraints, making it best suited for buy-and-hold investors.
Q4: 2026-03-03 Earnings SummaryEPS of $2.44 beats by $0.28
|
Revenue of
$30.45B
(-1.49% Y/Y)
misses by $20.09M
Target Corporation (TGT) Q4 2025 Earnings Call March 3, 2026 11:30 AM EST
Company Participants
John Hulbert - Vice President of Investor Relations
Michael Fiddelke - CEO & Director
Cara Sylvester - Executive VP & Chief Merchandising Officer
James Lee - Executive VP & CFO
Conference Call Participants
Spencer Hanus - Wolfe Research, LLC
Michael Lasser - UBS Investment Bank, Research Division
Katharine McShane - Goldman Sachs Group, Inc., Research Division
Simeon Gutman - Morgan Stanley, Research Division
Christopher Horvers - JPMorgan Chase & Co, Research Division
Michael Baker - D.A. Davidson & Co., Research Division
Rupesh Parikh - Oppenheimer & Co. Inc., Research Division
Christopher Nardone - BofA Securities, Research Division
Corey Tarlowe - Jefferies LLC, Research Division
Paul Lejuez - Citigroup Inc., Research Division
Kelly Bania - BMO Capital Markets Equity Research
Peter Keith - Piper Sandler & Co., Research Division
Joseph Feldman - Telsey Advisory Group LLC
Gregory Melich - Evercore ISI Institutional Equities, Research Division
Bradley Thomas - KeyBanc Capital Markets Inc., Research Division
Jacob Aiken-Phillips - Melius Research LLC
David Bellinger - Mizuho Securities USA LLC, Research Division
Oliver Chen - TD Cowen, Research Division
Zhihan Ma - Bernstein Institutional Services LLC, Research Division
Presentation
John Hulbert
Vice President of Investor Relations
Good morning, everyone, and welcome to our 2026 Financial Community Meeting. I'd like to thank everyone who's here with us in Minneapolis today, and welcome everyone who's here with us online. Michael will kick off in a couple of minutes, but first, I have a couple of important disclosures. First, any forward-looking statements that we make this morning are subject to risks and uncertainties, the most important of which are described in our SEC filings. And second, in today's remarks, we refer to non-GAAP financial measures, including adjusted earnings per share, adjusted operating income and adjusted SG&A expenses. Reconciliations of all non-GAAP measures to the most directly comparable GAAP measure are included in our financial press releases, financial presentations and SEC filings, which are posted on our Investor Relations website. With that, I'll
2026-03-03 21:552mo ago
2026-03-03 15:202mo ago
Ripple expands stablecoin payments platform for banks
TLDRRipple upgrades payments platform with stablecoin workflowRLUSD stablecoin gains traction as supply reaches $1.5 billionGet 3 Free Stock Ebooks Ripple expanded its payments platform to support a full stablecoin workflow for banks and fintechs. The upgraded Ripple Payments platform now enables collection, custody, conversion, and payout using stablecoins. Ripple Payments operates in more than 60 markets and has processed over $100 billion in transaction volume. Ripple integrated its dollar-pegged stablecoin RLUSD into the expanded payments stack. RLUSD has reached a circulating supply of about $1.5 billion in the global stablecoin market. Ripple has expanded its global payments platform to support a broader stablecoin workflow for banks and fintechs. The company aims to reduce reliance on pre-funded overseas accounts and speed up cross-border transactions. It announced the upgrade on Tuesday and confirmed expanded capabilities across its network.
Ripple upgrades payments platform with stablecoin workflow Ripple upgraded Ripple Payments to support collection, custody, conversion, and payout through stablecoins. The company said the update connects financial institutions directly to blockchain-based settlement rails. As a result, clients can manage funds without parking capital in foreign accounts.
The platform operates in more than 60 markets and has processed over $100 billion in volume. Ripple stated that Switzerland’s AMINA Bank, Brazil’s Banco Genial, Malaysia’s ECIB, and Philippines-based AltPayNet participate in the network. The company said the expanded stack allows institutions to move funds faster while maintaining operational control.
Ripple is valued at $17.7 billion, according to Forge Global, which tracks pre-IPO shares. The company remains privately held while expanding its enterprise offerings. It said the new features position Ripple Payments to compete directly with legacy providers.
RLUSD stablecoin gains traction as supply reaches $1.5 billion Ripple continues to integrate its dollar-pegged token, RLUSD, into its payments infrastructure. RLUSD trades at $1 and holds a circulating supply of about $1.5 billion. The company said the token supports real-time settlement across supported markets.
Ripple stated that RLUSD accounts for a small but growing share of the global stablecoin market. It said clients can hold, exchange, and settle transactions using fiat or stablecoins. The company completed its acquisition of Rail last August for $200 million to support these services.
Ripple also acquired custody and treasury automation firm Palisade to strengthen asset management. It said these acquisitions expand its custody and treasury capabilities within the payments stack. The company confirmed that these tools integrate with Ripple Payments.
In December, the US Office of the Comptroller of the Currency conditionally approved national trust bank charters for Ripple National Trust Bank. The regulator also granted conditional approvals to Circle, BitGo, Paxos Trust Company, and Fidelity Digital Assets. If finalized, the charters would allow asset and stablecoin reserve management under federal oversight.
Ripple chief legal officer Stuart Alderoty attended a February White House meeting on crypto legislation. He joined other crypto and banking representatives to discuss stablecoin provisions. Lawmakers continue negotiations in Washington, DC, over a proposed US crypto market structure bill.
2026-03-03 21:552mo ago
2026-03-03 15:202mo ago
Lido Finance pauses new deposits to its ZKsync wstETH bridge after identifying a potential smart contract weakness
Ethereum liquid staking protocol Lido Finance informed its users of a potential security weakness in its ZKsync wstETH bridge endpoint contract, adding that it has suspended new deposits till the issue is resolved.
The disclosure, published on X by Lido Finance, stated, “As of yet, there is no indication that the weakness was exploited, and wstETH holders on ZKsync are not affected. No other bridges are affected.”
Withdrawals from ZKsync and token transfers were described as unaffected. Nevertheless, the platform moved swiftly, pausing new bridge deposits out of what it described as “an abundance of caution.”
What exactly is the vulnerability and who is affected? Lido has not publicly shared the technical nature of the flaw, referring only to a “potential weakness” reported in the ZKsync wstETH bridge endpoint contract, the smart contract layer that facilitates the movement of wrapped staked ETH between the Ethereum mainnet and the ZKsync Layer 2 network.
Lido integrated ZKsync as its fifth Layer 2 deployment, developed in collaboration with Matter Labs and the txSync team to build canonical wstETH bridging smart contracts. The ZKsync bridge went live on 3 January 2024, following a Lido DAO governance vote the previous month.
Lido has an emergency multisig mechanism that enables it to disable deposits and withdrawals on the ZKsync side when necessary, and that lever appears to have been pulled in this instance.
Why can a fix not be deployed without governance vote? Lido wrote, “A fix has been prepared and will be audited and deployed via the next scheduled on-chain Lido governance omnibus vote (late March / early April), after which deposits will resume.”
The reliance on a governance vote to deploy the fix reflects both the decentralized structure of Lido’s operations and the procedural safeguards built into its upgrade process. Yet for users and investors, it also means the timeline is subject to the mechanics of on-chain coordination, a reality that has historically introduced delays in decentralized finance protocols. Lido said updates would follow and that deposits would resume once the fix was live.
The announcement has not helped the fortunes of the respective tokens, with markets unnerved by the prospect of a fix that will not arrive until at least late March and possibly early April.
Lido’s native governance token, LDO, has fallen by more than 3.5% over the past 24 hours to trade at $0.3057. ZK, the native token of ZKsync’s parent network, has also dropped more than 3.1% to $0.01863 over the same period. However, both tokens were already on a decline before Lido’s announcement.
The protocol controls roughly one-third of all staked ether on the Ethereum network, making it the single largest staking operator by a substantial margin. Any security incident, or even the perception of one, carries systemic implications that extend well beyond the specific ZKsync integration.
For now, existing wstETH holders on ZKsync can take some comfort from Lido’s assurances while withdrawals remain fully operational.
Cryptopolitan reported earlier today that another project, Neutron, a BTCFi project that offers Bitcoin holders yields on their staked tokens, also paused certain services until at least March 9 after a security update where it said” a whitehat flagged a vulnerability” in its code.
2026-03-03 21:552mo ago
2026-03-03 15:212mo ago
BTC Price Bounces as Spot Investors Buy The Dip Amid Iran War Jitters
The BTC price is up in the past few hours after dipping earlier today as U.S.-Iran tensions escalated. The pullback dragged Bitcoin to around $67,000. Despite geopolitical jitters and rising oil prices, crypto markets remain range-bound as spot investors buy the dip.
BTC Price Holds Range After Sharp Weekend Swing At press time, the BTC price was at $68,600, up by 0.40% in the past hour as per TradingView data. However, it still shows a 0.30% decline over the past 24 hours. Today, Bitcoin slipped below $70,000 after reclaiming that level yesterday.
Source: TradingView
As CoinGape reported, the Bitcoin price had dropped to as low as $66,000 earlier in the day as crude oil prices hit $85, its highest level since 2024. However, the leading has since recovered and is showing strength amid the rising tensions between the U.S. and Iran.
According to crypto trader Myles G, Bitcoin is holding firm while other assets decline. He added that strong spot buyers continue to step in on the BTC price dips. He also noted that many of these buyers come from Bitcoin ETFs. As CoinGape reported, Bitcoin ETFs logged in $458M. Inflows with VanEck CEO predicting a gradual BTC rally
Source: X Similarly, analyst Exitpump said the BTC price bounced from $66,000 with spot buyers leading the move. He pointed to bullish absorption on spot CVD as supporting evidence.
Source: X However, analyst Ted Pillows said Bitcoin still trades within a defined channel. He expects a move above resistance, which is at $70,000, before another potential decline.
On-chain data adds another context. According to Lookonchain, the U.S. government transferred 0.0378 BTC worth $2,520. The platform suggested the transaction may represent a test.
Accumulation Trends Persist Despite Iran Escalation According to CryptoQuant analyst Darkfost, Bitcoin accumulation has resumed despite market uncertainty. He said exchange netflows show investors withdrawing BTC for longer-term holding.
NetFlow measures the difference between exchange inflows and outflows. It helps track whether investors plan to sell or hold their coins.
On Binance, which holds about 665,000 BTC, netflows turned negative on February 21. Since then, cumulative netflows reached negative 13,500 BTC. Notably, 3,848 BTC left the platform in a single day.
Across all top crypto exchanges, netflows remained negative for seven straight days. Darkfost said this trend suggests renewed investor interest at current levels. At the same time, rising oil prices pressured markets earlier in the day.
However, Politico reported that the Trump administration is considering military protection for oil and gas tankers in the Strait of Hormuz. The report said officials may back tanker insurance and address Iran war-risk policy cancellations. Natural gas and oil flows from Qatar and Saudi Arabia remain central.
Restoring full access to the Strait of Hormuz is viewed as vital as energy prices surge. This could keep oil prices steady, hence boosting the BTC price. Additionally, President Trump has stated that the U.S. Navy will begin escorting commercial tankers through the Strait of Hormuz.
2026-03-03 21:552mo ago
2026-03-03 15:212mo ago
XRP Whales Move $650 Million to Exchanges as Dumping Fears Spike
XRP holders dumped big. Over the past week, they moved roughly 472 million XRP tokens worth around $650 million straight into major cryptocurrency exchanges, and that’s got traders pretty nervous about what comes next.
The selling started February 24 when blockchain watchers spotted massive transfers hitting Binance and Kraken. These weren’t your average retail moves – we’re talking whale-sized chunks that usually mean someone’s getting ready to cash out hard. Market veterans know this pattern well: big money moves to exchanges, then prices tank. And right now, there’s a lot of big money sitting on trading platforms waiting for something to happen.
XRP’s been beaten up lately. The SEC lawsuit that’s dragged on since December 2020 keeps hanging over everything.
Trading data shows sell orders piling up as these transfers hit exchanges. More supply means downward pressure, and some analysts think XRP could see serious drops if this selling wave doesn’t stop soon. “We’re seeing classic distribution patterns,” said one crypto trader who didn’t want his name used. “When whales move this much at once, retail usually gets crushed.”
But Ripple’s tech still gets adopted worldwide for cross-border payments. The company keeps signing deals even as XRP’s price gets hammered by legal uncertainty and whale movements.
XRP bounced between $0.45 and $0.50 this week. Pretty volatile stuff, and it seems like every piece of news – good or bad – sends the price flying in some direction.
Ripple hasn’t said anything official about these massive transfers. The company usually stays quiet about market moves, focusing instead on their payment solutions and trying to distance themselves from direct price manipulation accusations. Smart move, probably, given the SEC’s watching everything they do.
The exchanges involved aren’t talking either. Binance and Kraken didn’t respond to requests for comment about the unusual activity. That’s normal – they rarely discuss specific transactions or user behavior publicly.
On March 1, Whale Alert caught something huge: one anonymous wallet moved 150 million XRP worth about $207 million straight to Binance. That single transaction got everyone’s attention and basically confirmed what traders already suspected – someone’s preparing for a major exit. More on this topic: Ripple Mints Record 69 Million RLUSD.
The SEC case remains the biggest wild card here. Gary Gensler keeps pushing the line that most crypto tokens are securities, and XRP’s right in the crosshairs. The agency filed suit claiming XRP’s an unregistered security, which Ripple fights tooth and nail. A resolution could come later this year, and that outcome will probably determine whether XRP survives long-term or gets regulated into irrelevance.
John Deaton, the lawyer representing XRP holders, warned investors to stay alert. “We’re seeing increased volatility patterns that suggest major moves ahead,” he said during a recent interview. “Both the legal proceedings and market dynamics need close monitoring right now.”
Some big players still back Ripple’s technology despite the chaos. SBI Holdings in Japan keeps supporting Ripple’s cross-border payment solutions, calling them efficient compared to traditional banking. But market sentiment stays mostly negative thanks to the SEC drama and these whale movements.
Glassnode reported something interesting February 28: active XRP addresses surged significantly. More activity usually means price movements coming, and combined with the exchange transfers, it points to major market engagement. “Address activity spikes often precede significant price action,” Glassnode analysts noted in their report.
Trading volume jumped too. CoinMarketCap shows 24-hour volume hit $1.8 billion March 2, up 20% from previous levels. That’s serious money moving around, and it reflects how the market’s reacting to both the whale transfers and regulatory uncertainty.
Ripple keeps pushing forward with business deals. March 1 brought news of a partnership with a major Asian financial institution for cross-border payments. Brad Garlinghouse, Ripple’s CEO, addressed the uncertainty at a Singapore fintech conference March 2, saying the company remains committed to navigating regulatory challenges. “We’re optimistic about overcoming current obstacles,” he said, trying to calm nervous stakeholders. See also: Riot Pays Million to End.
The XRP community stays active on social media, speculating about why whales are moving so much money. Some think it’s strategic repositioning, others fear massive selling. Without official explanations, everyone’s basically guessing.
CoinMetrics called the recent exchange flows among the highest recorded this year. “Such movements often associate with significant market events or strategic shifts,” their report said. They also noted increased social media mentions of XRP, showing heightened public interest in what happens next.
XRP’s price keeps swinging wildly. March 2 saw it dip below $0.45 before recovering slightly, reflecting ongoing uncertainty about both whale intentions and regulatory outcomes. The token seems sensitive to every piece of news, whether it’s about transfers, lawsuits, or partnership announcements.
Market watchers expect more volatility ahead as the SEC case moves toward resolution and whales continue moving large amounts to exchanges.
Regulatory pressure extends beyond just the SEC case. The European Union’s Markets in Crypto-Assets (MiCA) regulation, set to fully implement in 2024, could impact how XRP operates across European markets. Meanwhile, Japan’s Financial Services Agency has maintained a more favorable stance toward XRP, classifying it differently than U.S. regulators. This regulatory patchwork creates additional complexity for institutional investors trying to navigate compliance requirements across different jurisdictions.
The timing of these whale movements coincides with broader cryptocurrency market uncertainty. Bitcoin recently tested key support levels around $60,000, and when Bitcoin struggles, altcoins like XRP typically face even steeper declines. Traditional financial institutions have been reducing their crypto exposure amid regulatory crackdowns, which could explain why some large XRP holders are liquidating positions now rather than waiting for potentially worse market conditions.
Post Views: 13
2026-03-03 21:552mo ago
2026-03-03 15:222mo ago
Bitcoin ETFs Set to Mark Second Consecutive Week of Inflows With $458M
U.S. spot Bitcoin ETFs saw $458 million in net inflows on March 2, marking one of the largest single-day inflows of 2026. Meanwhile, spot Ethereum ETFs added $38.69 million across all nine products, with no outflows reported. For the first time in weeks, U.S. spot Bitcoin and Ethereum ETFs are set to record continuous weekly inflows, which marks a rebound for crypto ETFs. On March 2, Bitcoin ETFs pulled $458 million in net inflows, which is one of the strongest single-day inflows this quarter so far, and none of the 12 listed Bitcoin ETFs posted outflows.
According to SoSoValue reports, the largest inflow was $263.19 million from iShares Bitcoin Trust (IBIT), followed by Fidelity’s FBTC with $94.80 million in inflows, then Grayscale’s BTC added $18.36 million, VanEck’s HODL posted $19.54 million, and Bitwise’s BITB received $36.40 million.
While Invesco’s BTCO and ARK 21Shares’ ARKB brought in $6.20 million and $5.73 million, respectively, and Franklin Templeton’s EZBC brought in $13.98 million. Finally, total net assets currently oversee about $88.34 billion in total. As Bitcoin ETFs started the week with the largest inflows, positioning the funds to record their second consecutive week of positive net inflows.
After experiencing some turbulence over the weekend, Bitcoin saw a significant recovery. As growing tensions between the United States and Iran and more general geopolitical concerns in the Middle East upset international markets, Bitcoin fell to around $63,000, at the time of writing the article, Bitcoin was trading near $68,000
Ethereum, XRP, and Solana ETFs See Inflows Meanwhile, Ethereum ETFs recorded $38.69 million in inflows on March 2, led by iShares Ethereum Trust(ETHA) with $26.51 million in inflows, while Grayscale Ethereum Mini Trust(ETH) and Grayscale Ethereum Trust(ETHE) together saw $8.97 million in inflows. As the inflows position Ethereum ETFs to record their second consecutive week of positive net inflows.
As XRP ETFs saw $6.97 million in inflows on March 2, led by Bitwise XRP ETF with $4.69 million in inflows, while Solana ETFs posted $17. 42 million in inflows led by the Bitwise Solana Staking ETF with $16.02M in inflows, as both ETFs, which launched in late 2025.
Top Updated Crypto News:
XDC Network (XDC) Tests Its Momentum: Break Free or Face Resistance?
2026-03-03 21:552mo ago
2026-03-03 15:232mo ago
Luna Classic Rallies 28% After Binance's 850M LUNC Burn
Luna Classic restores last month’s equilibrium levels as another crypto platform might join the dedicated burning efforts.
Market Sentiment:
Bullish Bearish Neutral
Published: March 3, 2026 │ 8:16 PM GMT
Created by Gabor Kovacs from DailyCoin
The battle-scarred Terra Luna Classic (LUNC) community is gaining momentum following the embattled altcoin’s 28% rebound to last month’s support levels. This comes a day after Binance, the globe’s largest crypto platform by trading volume, completed a monthly batch of the LUNC trading fee burn, compiled from 50% of the garnered fees throughout February, 2026.
858M LUNC Rushed Out Of Existence By BinanceThis time, Binance managed to eliminate 858,230,264 LUNC tokens. With such figures sent to the bottomless pit, Terra Luna Classic’s remaining supply has been reduced to roughly 5.46 trillion, flushing nearly 1.5 trillion since Luna Classic’s hyperinflation shot up the supply to an enormous figure of 6.9 trillion in mid-2022.
This has also pushed the overall Binance LUNC burn score to over 83 billion tokens since the initiative sparked back in 2022. However, Terra Luna Classic’s community appears to be striving for way more than that. According to the latest initiative by one of LUNC chain’s node validators, LBank exchange has been requested to join the LUNC burning campaign.
One More Exchange To Join LUNC Burn Ceremony?If LBank decides to join these efforts, they are asked to burn a chosen portion of the monthly LUNC fees, possibly including the Terra Classic USD (USTC) trading pairs too. Setting up a poll on X, Luna Classic Revival validator Marz received almost unanimous support from the crypto community, resulting in a 97.9% approval rate.
We are still awaiting an official response from @LBank_Exchange on burning a portion of their #LUNC trading fees joining @binance..
We strongly believe our community will prevail as #LunaClassic has shown great strength over the past couple weeks in #Crypto ..Let them hear it👇
— Luna Classic Revival validator | Marz token (@onlycryptobaron) March 2, 2026 Those who rejected the idea presented Terra Luna Classic (LUNC) staking as an alternative to the acceleration of the burning mechanism. However, on-chain stats show Terra Luna Classic’s staked ratio is already doing solid with 15.15% of all LUNC staked – approximately 979 billion. As the track record shows, this doesn’t reflect on the price if LUNC burns are inconsistent.
As of press time, Terra Luna Classic (LUNC) is priced at $0.00004402, whipping up 1.9% gains over the past 24 hours. The ultra-stagnant trading volumes continue to pose the biggest challenge for long-term price implications: this has fallen sharply to $15,567,780 from hundreds of million on average registered for the most part of 2025, prior to the V3.6.0 upgrade going live.
Dig into DailyCoin’s popular crypto scoops today:
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People Also Ask:Why did LUNC jump 28% recently?
Binance burned about 850 million LUNC tokens on March 1, 2026, as part of its monthly program (using trading fees). Burns reduce the total number of tokens out there, which often creates excitement and pushes the price up short-term.
How much LUNC is left after this burn?
The circulating supply is now roughly 5.46 trillion Terra Luna Classic tokens (a tiny drop from before, since the burn was ~0.016% of supply). Total supply (including already-burned tokens) is around 6.47 trillion.
What is this Binance burn thing?
Every month, Binance takes some of the fees it earns from people trading LUNC and burns (permanently destroys) them. This has been happening since late 2022 to help shrink the huge supply after Terra’s 2022 crash.
Does this burn make LUNC worth more long-term?
It helps a little by reducing supply slowly, and big burns often cause quick price spikes (like this 28% one). But with trillions of tokens still around, it takes a lot more burning + other good news (upgrades, adoption) for big sustained gains.
DailyCoin's Vibe Check: Which way are you leaning towards after reading this article?
Market Sentiment
100% Bullish
This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.
2026-03-03 21:552mo ago
2026-03-03 15:302mo ago
US Government Moves Bitcoin From ‘Seized Funds' Wallet in First 2026 Transfer
On Tuesday, the U.S. government shifted a modest slice of bitcoin, roughly 0.33 BTC, marking its first onchain movement of the year. The coins were tied to a wallet labeled “Miguel Villanueva Seized Funds,” and the holdings are now valued at just under $23,000. Federal Authorities Send 0.
2026-03-03 21:552mo ago
2026-03-03 15:382mo ago
Important Binance Update Affecting ZEC, LTC, and Other Altcoin Traders: Details
Shares of Circle Internet Group (CRCL) rose nearly 8% on Tuesday to $103.71, marking their highest level in almost four months, according to The Block price data. Analysts at Mizuho see rising oil prices and shifting Federal Reserve rate expectations as tailwinds for the stablecoin issuer’s valuation.
Mizuho analysts Dan Dolev and Alexander Jenkins raised their price target on Circle to $100 from $90 while maintaining a "neutral" rating, arguing that the recent surge in crude oil, which is up roughly 6% over five days and about 24% year to date, may reduce the odds of rate cuts in 2026.
Oil and rates The move in oil follows escalating U.S.-Iran tensions after weekend airstrikes, which also triggered volatility across global markets, causing Bitcoin to see-saw in a range between $65,000 and $70,000.
For Circle, the key variable is interest rates.
The company generates revenue from interest earned on reserves backing USDC, and "higher-for-longer" rates support that model. Mizuho estimates that softer rate-cut expectations would lift its 2026 and 2027 revenue forecasts by only about 1%, but the more significant impact may be on valuation.
Data from CME’s FedWatch tool shows the probability of a no rate cut scenario in 2026 roughly doubled over the past day. That shift in right-tail risk likely adds “more torque” to Circle’s multiple, the analysts wrote.
Valuation and competition Mizuho models average USDC in circulation at about 123 million in 2027, implying roughly $3.7 billion in reserve income and $922 million in EBITDA.
The firm applies a 27x multiple, above the roughly 19x average for peers such as Visa, Mastercard, Coinbase, and Robinhood, supporting its new $100 price target.
Despite the stronger macro backdrop, Mizuho reiterated longer-term concerns around stablecoin competition and potential commoditization, particularly as regulatory clarity draws more entrants into dollar-backed tokens.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
US Dollar Index strength, fear that BTC miners may liquidate their reserves and Bitcoin's performance compared to stocks raise concerns among investors.
2026-03-03 21:552mo ago
2026-03-03 15:412mo ago
Is This the New Ceiling for Bitcoin? Analyst Breaks Down BTC's Latest Technical Setup
Bitcoin trades at $68,512 after facing rejection near the $70,000 resistance level. A death cross appears on the three-day chart for the first time since 2022. Short-term indicators show selling pressure weakening despite the bearish long-term signal. Bitcoin faces a defining technical test at the $70,000 level on March 3, 2026. The cryptocurrency trades at $68,512 after recording an intraday high of $69,510 and a low of $66,326. Price met resistance near the psychological $70,000 mark for the third time in recent weeks, consolidating that zone as the market’s immediate ceiling.
Sellers appeared near $69,500 during the session, but buyers defended intraday support at $67,800. Price action reflects a direct struggle between those betting on a continued uptrend and those anticipating a deeper correction. The daily RSI stands at 46, in neutral territory with a slightly bullish bias, while the MACD remains negative without confirming a trend reversal crossover.
Short and long-term technical signals The three-day chart shows a death cross for the first time since 2022. The 50-period moving average cut below the 200-period average, a pattern that historically preceded corrections of up to 35%. This indicator generates caution among traders, who closely watch support levels at $65,000 and $62,500. A loss of these zones could accelerate selling toward $60,000.
However, short-term indicators contradict this bearish signal. Bitcoin recovered its 20-day moving average and Bollinger Bands are tightening, a configuration that precedes sharp price moves. Research firm 10x Research notes that selling pressure is dissipating and that the hourly RSI shows recovery. Analyst Michaël van de Poppe argues that consolidation above $65,000 builds momentum for a bullish breakout.
That's the type of test that I was looking for with the markets.
Quick turn-around upwards on $BTC.
Massive.
It's actually the strongest asset out of all assets today (except for oil). pic.twitter.com/4nz10YSyr5
— Michaël van de Poppe (@CryptoMichNL) March 3, 2026
Key levels define the immediate scenario To the upside, main resistance extends between $70,000 and $72,000. A daily close above that band, accompanied by rising volume, would open the path toward $76,000. To the downside, immediate support at $66,500 is critical. A break below that level would send price to test the $65,000 zone first and then $62,500.
Source: Farside Investors US spot Bitcoin ETFs recorded inflows of $458 million on March 2, indicating institutional demand on dips. In contrast, miner Core Scientific announced the sale of most of its Bitcoin holdings to fund its expansion into artificial intelligence, a decision that could increase available supply in the market.
Bitcoin accumulates five consecutive monthly declines, a streak only seen during the 2018-2019 bear market. On that occasion, that negative sequence was followed by a 300% rebound in the subsequent five months.
The current unknown is whether the recent bottom near $65,000 represents a genuine floor or if the market needs an additional correction to find buyers. The outcome of the test at $70,000 will define the direction for the coming weeks.
2026-03-03 21:552mo ago
2026-03-03 15:512mo ago
ZCash Surges After Textbook Rebound at Critical Fibonacci Support
The privacy cryptocurrency surged 51% in just four days after hitting a monthly low of $185. The technical move coincided exactly with the 0.786 Fibonacci retracement level, validating a critical accumulation zone. Analysts suggest that ZEC could be replicating a historic Bitcoin fractal that projects ambitious long-term targets. A precise technical move triggered a Zcash rebound at Fibonacci support, repositioning the token among the market’s top performers. Following an extended downtrend, the asset managed to climb from $185 to $333, demonstrating resilience despite lingering doubts about its future development.
This recovery was no coincidence, as the price found solid support at the 0.786 Fibonacci level, based on its growth cycle from late last year. Consequently, investors are interpreting this reaction as a signal of institutional accumulation, particularly given its sustained presence on major global exchanges.
Parabolic Projections and Comparisons with Bitcoin’s History Beyond the short term, the analyst community has begun drawing parallels between ZEC’s current structure and a 2015 Bitcoin fractal. In this regard, the expert known as Anonymist stated that this pattern suggests that, after a consolidation phase, Zcash could embark on a path toward a parabolic bull market.
In this sense, if the asset holds its current levels near $200, the long-term target could be significantly higher. However, to achieve market capitalization goals exceeding $80 billion, the project must fully regain the trust of both developers and users.
In summary, Zcash’s fate will depend on its ability to differentiate itself from other privacy protocols in an increasingly strict regulatory environment. The programmed scarcity of its 21 million units remains, undoubtedly, its greatest appeal for investors seeking long-term value.
2026-03-03 21:552mo ago
2026-03-03 15:552mo ago
XRP Under Pressure Despite 24 % Surge In Trading Volume
For 24 hours, XRP has been moving independently of bitcoin. A rare divergence in a market where correlation with BTC usually dominates altcoin dynamics. While bitcoin tries to stabilize its price, Ripple’s token follows a distinct trajectory, amidst persistent bearish pressure. This movement comes as XRP’s trading volume grows significantly.
In brief XRP moves against the trend of bitcoin, temporarily breaking with the usual market correlation. The asset remains in a range between $1.34 and $1.42, with a drop of more than 19 % over 30 days. Trading volume rises 24%, reaching 3.33 billion dollars in 24 hours. This increase in activity changes the interpretation of the movement and raises questions about the strength of the decoupling. XRP breaks its correlation with bitcoin In the last 24 hours, XRP has stopped following bitcoin movements. “XRP breaks free from bitcoin’s dynamics”. While BTC rose slightly, XRP did not replicate the same trend.
The main factual elements observed are as follows :
XRP trades within a range between 1.34 dollar and 1.42 dollar ; In the last 30 days, the asset recorded a decline of more than 19% ; The RSI remains below the 50-point threshold, indicating a trend still dominated by sellers ; A lasting stabilization above 1.40 dollar would be needed to consider a technical reversal. These data reflect a still fragile structure. The observed decoupling does not accompany, at this stage, a confirmed technical reversal signal. Selling pressure remains dominant, even if the price behavior momentarily diverges from that of bitcoin.
A 24% volume increase that changes market interpretation The other notable element concerns activity. XRP’s trading volume rose by about 24 %, reaching 3.33 billion dollars. Thus, the intensification of trades is the true notable fact of the session.
This increase occurs precisely at the moment of decoupling. In other words, the divergence does not happen in a context of liquidity drying up, but on the contrary in a phase of increased activity. Volume then becomes a central indicator to interpret the strength of the movement.
If this trading dynamic continues, it could support a stabilization phase. Conversely, a rapid decline in volume would reinforce the risk of continued bearish pressure observed during the past month. XRP’s ability to maintain this independence from bitcoin will be one of the key factors in upcoming sessions.
XRP’s decoupling from bitcoin opens a phase of uncertainty. The volume increase shows renewed activity, without confirming a trend change. The next technical levels will be decisive, because a drop below $1 for XRP could trigger $650 million in liquidations! A threshold that now draws all attention.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
2026-03-03 21:552mo ago
2026-03-03 16:002mo ago
Better Cryptocurrency to Buy Right Now With $2,000 and Hold for 5 Years: XRP vs. Ethereum
It's a tall order to put $2,000 into crypto and not touch it for five years; there simply aren't many assets that are going to hold up over time.
But the odds are very good that majors like Ethereum (ETH 3.34%) and XRP (XRP 2.79%) will, at a minimum, exist five years from now. If their development roadmaps get implemented as planned, they'll probably even be worth more than they are now. So which one is the better choice to buy and hold with $2,000?
Image source: Getty Images.
Ethereum has a few different ways to win Ethereum's edge is that it competes in many different segments simultaneously, which gives it a handful of different paths in which it can survive and grow.
Ethereum leads the crypto sector's decentralized finance (DeFi) segment by total value locked (TVL), with around $51.4 billion; it also has $158.6 billion in stablecoins on its chain, the most of any chain by far. Those bases of capital ensure that if a developer gets an idea about a new app to make, the chances of them finding a customer with money ready to spend are the highest on Ethereum.
So it's no surprise that the network is home to a vast number of different projects in various verticals, some of which are successful and generate economic value for the chain, and many of which fail. But even the failures incur transaction fees and thus some additional demand for Ether, so it's all part of the process.
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That mixture of its ecosystem's depth and breadth is a hedge, because even if a hot new niche cools off, another can heat up. And over the long run, it's a huge asset that supports the coin's value.
XRP's narrower bet could still pay off XRP was originally built for processing cross-border payments and more recently, compliant token issuance for financial institutions.
Its compliance features, such as transaction clawback for certain issued tokens, can make regulated asset issuers more comfortable doing business on the chain, as they mirror the real-world asset control requirements set by financial regulators. Today, it has about $461 million in distributed tokenized real-world asset (RWA) value, a sum that's growing rapidly. The more that value flows to the XRPL over the coming years, the more demand for XRP it'll create.
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Ethereum also competes quite effectively in the tokenized asset space, and it already has far more of them than the XRPL does. It doesn't even need to win in the segment to continue growing, but the same can't be said for XRP.
Therefore, with $2,000 in hand for a five-year hold, I would buy Ethereum. XRP is still a good purchase, but it's just positioned in a far more focused way, which makes it a bit more brittle in comparison.
2026-03-03 21:552mo ago
2026-03-03 16:002mo ago
Pi Network price prediction: $0.20 still in play as 3 signals align
In mid-February, AMBCrypto had warned that a Pi Network [PI] rally looked more like buyer exhaustion than a bullish reversal.
During that rally, PI had moved 58.1% higher in 4 days, on the back of high Spot Volume.
However, it ran into the $0.2 supply zone and was unable to overcome it. At the time of writing, PI was trading at $0.171.
The rejection from the overhead supply has come true, but what is likely to follow in March? An argument can be made for a bullish breakout and a long-term trend shift for PI, especially if Bitcoin can push past $70k.
The chances of a PI breakout past $0.2
Source: PI/USDT on TradingView
The rejection from $0.2 did not send PI prices below the $0.13 local lows. Such a scenario would have been a clear signal of bearish intent.
Instead, the altcoin prices fell to $0.16 and rebounded.
At the same time, the OBV did not see a steep drop-off from the mid-February rally levels. This meant that selling pressure was not high. Additionally, the 20 and 50-day moving averages were on the verge of making a bullish crossover.
Over the past week, the 20DMA has served as a dynamic support to Pi Network token prices.
The lack of selling pressure and the challenge of the $0.173 level suggested a move higher could occur in the short-term.
Pi Network short-term price prediction
Source: PI/USDT on TradingView
The H4 local resistance at $0.1788 would likely be a firm test of bullish resolve.
At the time of writing, the altcoin was approaching the apex of a triangle pattern (orange). The direction of the breakout from this chart pattern could determine the next impulse move.
It is possible that a Bitcoin [BTC] short squeeze could give the altcoin market some temporary respite. In this case, a PI move toward $0.2 and the $0.216 local high could materialize.
Final Summary PI’s short-term direction hinged on the direction of the breakout from the triangle pattern. The Pi Network price prediction is a move toward $0.20 and $0.216, provided Bitcoin can climb above $70k and maintain the momentum. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
2026-03-03 21:552mo ago
2026-03-03 16:002mo ago
Bitcoin Market Enters Holding Phase As Active Supply Contracts
The Bitcoin market appears to be entering a decisive holding phase, with on-chain data signaling a steady contraction in active supply. Rather than aggressive selling or speculative rotation, a growing portion of circulating BTC is moving into long-term storage, reducing the amount readily available for trading. This tightening liquidity dynamic reflects rising investor conviction, as holders choose accumulation over distribution.
How Volatility Compression Tightens Bitcoin’s Range In a recent post on X, Joao Wedson, the founder and CEO of Alphractal, noted that the Bitcoin 30-Day active supply has dropped sharply in recent weeks, which is a clear signal that fewer BTC have moved across the network over the past month. Due to this BTC drop, active participation has decreased, and the market has become quieter, with fewer units changing hands in the short to medium term.
Wedson explains that when this 30-day active supply indicator spikes higher, it typically reflects that short-term holders and retail investors are experiencing strong emotions. The high peaks in the 30-day active supply often coincide with strong retail moments driven by euphoria or panic. This is when more coins return to circulation, whether driven by FOMO during rallies or capitulation during sharp corrections.
Source: Chart from Joao Wedson on X Thus, when the indicator declines downward, it generally signals the volatility compression, low supply rotation, and market participants appear more patient. In simple terms, the high 30-day active supply would show emotion, rotation, and active retail engagement.
Meanwhile, the low 30-day active supply would show apathy, holding behavior, and tighter market structural conditions. This 30-day active supply is an excellent metric for capturing the market’s monthly behavioral pulse.
BTC Enters A Decision Level With Statistical Significance The Bitcoin price action is approaching its next pivot on the 3rd, a level that has historically produced meaningful reactions. According to a crypto trader known as LP on X, reviewing the last eight pivot occurrences, five have resulted in local lows. Statistically, that move gives the current Low-Time Frame (LTF) pivot a slight tendency to form a bottom, but the context matters.
However, if the price sells off into a pivot, the probability of it acting as the local low increases. Then, if the price rallies into the pivot, the odds would shift toward marking a local high.
Over the past several days, the price has been volatile but generally has been grinding higher into the upcoming pivot, slightly increasing the risk of a level that could form a high. Historically, reactions from this pivot have led to moves in the 7% and 9% range, suggesting that whichever direction is confirmed could result in a meaningful expansion.
BTC trading at $66,504 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com