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Gateway builds on its 2026 order of 100 W56s, as fleet operator demand growsW56 deployments continue alongside new Gateway site launches, with additional trucks supporting growth into 2027 DETROIT, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ: WKHS) (“Workhorse”), an American Industrial Technology company, and Kingsburg Truck Center (KTC), a leading California truck dealer, today announced that Gateway Fleets has placed a follow-on purchase order for 200 W56 fully-electric step vans. Gateway, a California-based provider of turnkey electric vehicle and charging solutions for commercial delivery operators, is purchasing the vehicles through KTC with the intent to lease them to its customers, who are primarily last-mile independent package delivery providers.

Gateway’s business model bundles purpose-built electric trucks with charging infrastructure, fleet support, and depot access through flexible financing arrangements designed to simplify electric fleet operations. For Gateway, scale follows operator confidence. To build that confidence, Gateway is investing in the vehicles, infrastructure, and support required to keep operators moving every day.

Through Gateway’s lease structure, operators will gain the fuel and maintenance savings of electric vehicles while managing cash flow and avoiding large upfront capital expenditures. Gateway currently operates depots in Southern California and is scaling its network to meet growing operator demand across the region and beyond. For Workhorse, this purchase order expands a channel to delivery operators seeking a more accessible path to fleet electrification.

“In today’s era of high and volatile fuel prices, customers are seeking the stability and lower operating costs associated with electric trucks, without sacrificing safety or performance,” said Scott Griffith, Chief Executive Officer at Workhorse. “We believe Gateway’s innovative model will help unlock wider adoption of electric trucks through its bundled pricing that eliminates the two biggest barriers to widespread adoption: the higher upfront cost of the vehicle and the added investment capital required to build out the charging infrastructure.”

The W56 step vans available through Gateway are Standard Wheelbase (178") configurations with a 210 kWh battery, offering 1,000 cubic feet of cargo space, a payload of 10,000 lbs. and a nominal range of 150 miles per charge. Every van features a fully-integrated, purpose-built composite body, an ergonomic driver environment, and a platform engineered for the demands of high-cycle last-mile delivery. Vehicles contracted in this new order are expected to begin deploying to customers in the second half of 2027, with deployments continuing through 2028.

“Getting the truck on the road is only the beginning. Keeping operators moving takes the right combination of infrastructure, service, and support,” said Jamie Miller, Chief Revenue Officer of Gateway Fleets. “Workhorse has brought us an innovative vehicle and a team committed to standing behind it, while Kingsburg provides the service expertise and support our customers need in the field. Gateway brings those pieces together with the charging infrastructure and capital to make electrification work for operators. As we open new locations, we’re continuing to expand W56 deployments alongside our network, with more sites and trucks coming online through ‘peak’ and into 2027. We’re excited to keep building on what’s working together.”

All W56 models are produced at Workhorse’s commercial-scale manufacturing facility in Union City, Indiana, which is capable of producing up to 5,000+ vehicles per year on a standard operating shift. To date, Workhorse has delivered more than 1,100 vehicles that have collectively accumulated more than 21 million real-world miles across customer fleets.

Vehicles contracted in this new order are expected to begin deploying in the second half of 2027 so that customers can deploy them fleetwide in advance of “peak” holiday season, when package delivery volumes spike.

“This partnership brings together three critical components of fleet electrification: a high quality, proven Workhorse truck; a deployment and service partner, Gateway; and our team at Kingsburg, providing full-circle consultative sales, incentive processing and service support,” said Jerry Smith, Owner at Kingsburg Truck Center. “We’ve had nothing but positive feedback on the performance of the W56 this year, and we’re looking forward to an even better 2027.”

Fleets interested in leasing a Workhorse W56 should contact Gateway Fleets directly or visit www.gatewayfleets.com.

About Workhorse Group Inc.

Headquartered in the Detroit area with a commercial-scale manufacturing plant in Union City, Indiana, Workhorse (Nasdaq: WKHS) is an American Industrial Technology company specializing in electrification, high-voltage systems integration, mobility platforms, ruggedized mobile platform manufacturing, distributed energy systems, and deployable industrial infrastructure. We manufacture durable, reliable and high-performing vehicles and infrastructure for mission-critical applications deployed in the world’s most demanding operating environments. More information is available at www.workhorse.com.

About Gateway Fleets

Gateway Fleets is a California-based provider of complete electric vehicle and charging solutions designed for commercial delivery operators. Gateway delivers electric trucks, fast flat-rate charging infrastructure, real-time fleet visibility and support, and depot access in a single bundled package — removing the barriers to electric fleet adoption and enabling operators to focus on their routes. Gateway Fleets currently serves operators in Southern California and is expanding to meet growing demand. More information is available at www.gatewayfleets.com.

About Kingsburg Truck Center

Based in Kingsburg, California, Kingsburg Truck Center is one of the nation's leading commercial truck dealerships and was the first full-service authorized dealer for Workhorse Group Inc. in the state of California. Specializing in advanced vocational solutions and zero-emission fleet deployment, Kingsburg Truck Center provides comprehensive upfitting, sales, and service for the medium-duty market. The company is a recognized leader in California's incentive ecosystem, leveraging deep expertise in grant writing and voucher processing to maximize funding for fleet transitions. As a strategic partner for sustainable transportation, Kingsburg Truck Center helps operators navigate technical and financial complexities to achieve zero-emission goals. More information is available at kingsburgtruckcenter.com.

Contacts:

Workhorse
John Williams, Communications
+1-206-660-5503, [email protected]

ICR, Inc.
[email protected]

Investor Relations Contact:

[email protected]

Gateway Fleets

[email protected]

Kingsburg Truck Center

Wesley Lowe, [email protected]

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical fact included in this press release, including statements regarding the planned delivery of vehicles to Gateway Fleets, Gateway Fleets’ intended leasing activities, anticipated fleet operator demand for electric vehicles, and the expected deployment timing of purchased trucks, and the production capacity of Workhorse’s Union City facility, are forward-looking statements. Some of these statements may be identified by the use of the words “plans”, “expects” or “does not expect”, “estimated”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “targets”, “projects”, “contemplates”, “predicts”, “potential”, “continue”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, “will” or “will be taken”, “occur” or “be achieved”.

Forward-looking statements are based on the opinions and estimates of management of Workhorse as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Some factors that could cause actual results to differ include our ability to raise capital to fund our operations and to maintain access to our current debt facilities; our ability to achieve the expected synergies and/or efficiencies from our operations and as a result of the Motiv/Workhorse merger; our ability to reduce the cost to build our vehicles; our ability to hire and retain the workforce needed; changes in laws, regulations, technologies, the global supply chain, and macro-economic and social environments affecting our business, including demand for electric trucks and our cost of production; and our ability to maintain compliance with Nasdaq rules and otherwise maintain our listing of securities on Nasdaq.

Additional information on these and other factors that may cause actual results and Workhorse’s performance to differ materially is included in Workhorse’s periodic reports filed with the SEC, including Workhorse’s Annual Report on Form 10-K for the year ended December 31, 2025 including those factors described under the heading “Risk Factors” therein, and Workhorse’s subsequent Quarterly Reports on Form 10-Q. Copies of Workhorse’s filings with the SEC are available publicly on the SEC’s website at www.sec.gov or may be obtained by contacting Workhorse. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. These forward-looking statements are made only as of the date hereof, and Workhorse undertakes no obligation to update or revise the forward-looking statements except as required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/938f8926-7c8e-4969-bea9-3f204b98cb2b

Workhorse-Gateway W56 Electric Step Vans Gateway builds on its 2026 order of 100 W56s with a 200-vehicle expansion

, /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) announced today that Vylor Inc., a Delaware corporation and its wholly owned subsidiary ("Vylor"), has extended the expiration date of each of its previously announced (i) private offers to exchange (with respect to each series, an "Exchange Offer" and together, the "Exchange Offers") any and all of the outstanding senior notes of the series listed in the table below issued by EIDP, Inc., a Delaware corporation and a wholly owned subsidiary of Corteva ("EIDP" and such notes, collectively, the "EIDP Notes"), to the extent held by eligible holders, for a corresponding series of notes to be newly issued by Vylor (collectively, the "Vylor Notes") and (ii) related consent solicitations (the "Consent Solicitations") made by Vylor on behalf of EIDP to adopt certain proposed amendments to the indentures governing the EIDP Notes (the "Proposed Amendments"). Vylor hereby extends the expiration date of each Exchange Offer and Consent Solicitation from 5:00 p.m., New York City time, on September 29, 2026 to 5:00 p.m., New York City time, on September 30, 2026 (such date and time, as they may be further extended, the "Expiration Date").

The table below sets forth, for each series of EIDP Notes, the principal amount validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on September 29, 2026.

EIDP Notes Validly Tendered
and Not Validly Withdrawn as of
5:00 p.m., New York City time,
on September 29, 2026

Title of
Series of
EIDP
Notes

CUSIP No.
and ISIN of
EIDP Notes

Aggregate
Principal
Amount of
EIDP Notes
Outstanding

Vylor Notes
to be
Issued in
Exchange
for EIDP
Notes

Principal
Amount

Percentage

2.300% Senior
 Notes due 2030

263534CP2
US263534CP24

$

500,000,000

2.300% Senior Notes
due 2030

$434,841,000

86.97 %

5.125% Senior Notes
due 2032

263534CS6
US263534CS62

$

500,000,000

5.125% Senior Notes
due 2032

$476,214,000

95.24 %

4.800% Senior Notes
due 2033

263534CR8
US263534CR89

$

600,000,000

4.800% Senior Notes
due 2033

$527,584,000

87.93 %

The Exchange Offers and Consent Solicitations are being made upon the terms and conditions set forth in an exchange offer memorandum and consent solicitation statement, dated August 6, 2026 (as amended or supplemented, the "Offering Memorandum"), copies of which have been made available to holders of the EIDP Notes eligible to participate in the Exchange Offers and Consent Solicitations. Each Exchange Offer and Consent Solicitation is conditioned upon, among other things, the consummation of Corteva's planned separation into two independent, publicly traded companies, one comprising its current crop protection business and the other comprising its current seed business to be owned and conducted, directly or indirectly, by Vylor (the "Separation"). Other than the Separation (without the consummation of which the Exchange Offers and Consent Solicitations will not be consummated and the Proposed Amendments contemplated by the Consent Solicitations will not become operative), Vylor may generally waive any condition with respect to the Exchange Offers and Consent Solicitations, in its sole discretion, at any time prior to the Expiration Date.

As previously announced, Vylor received, on behalf of EIDP, the requisite consents to adopt the Proposed Amendments. EIDP and the trustee under the indentures governing the EIDP Notes executed and delivered a supplemental indenture giving effect to the Proposed Amendments. The Proposed Amendments will become operative only upon the settlement of the Exchange Offers and Consent Solicitations on the Settlement Date (as defined below).

Assuming the remaining conditions to the Exchange Offers and Consent Solicitations are satisfied or (to the extent permitted) waived, settlement of the Exchange Offers is expected to occur on or about the first business day following the Expiration Date and substantially simultaneously with the consummation of the Separation, unless Vylor further extends or terminates the Exchange Offers (such date and time, as the same may be extended, the "Settlement Date"). Accordingly, Vylor may, in its discretion, further extend each of the Expiration Date and the Settlement Date as necessary to maintain such sequencing.

Except as described in this press release, all other terms of the Exchange Offers and Consent Solicitations remain unchanged. Vylor reserves the right to terminate, withdraw, amend or extend an Exchange Offer and Consent Solicitation in its sole discretion, subject to the terms and conditions set forth in the Offering Memorandum.

The Exchange Offers and Consent Solicitations are being made only to holders of EIDP Notes who satisfy the eligibility conditions described under "Disclaimer" below. Holders of EIDP Notes who desire a copy of the eligibility letter should contact D.F. King & Co., Inc., the information agent and exchange agent for the Exchange Offers and Consent Solicitations, by phone at (800) 283-9185 or by email at [email protected]. Banks and brokers should call (646) 461-2610. The eligibility letter may also be found here: www.dfking.com/vylor. D.F. King & Co., Inc. will also provide copies of the Offering Memorandum to eligible holders of EIDP Notes.

Holders of EIDP Notes are advised to check with any bank, securities broker or other intermediary through which they hold EIDP Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Exchange Offers and Consent Solicitations before the deadlines specified herein and in the Offering Memorandum. The deadlines set by each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the relevant deadlines specified herein and in the Offering Memorandum.

Disclaimer

This press release is issued pursuant to Rule 135c under the Securities Act of 1933, as amended (the "Securities Act"). This press release is neither an offer to sell nor the solicitation of an offer to buy the Vylor Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. The Exchange Offers and Consent Solicitations have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and, accordingly, the Vylor Notes will be subject to transfer restrictions unless and until the Vylor Notes are registered or exchanged for registered notes. The Vylor Notes will be issued in reliance upon exemptions from, or in transactions not subject to, registration under the Securities Act. The Exchange Offers and Consent Solicitations are being made only to, and the Vylor Notes will be offered for exchange only to, holders of EIDP Notes who are (i) reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act, and (ii) outside the United States, persons who are not, and who are not acting for the account or benefit of, "U.S. persons" (as defined in Rule 902 under the Securities Act) in compliance with Regulation S under the Securities Act. The Vylor Notes will not be offered or sold in the United States or to U.S. persons (as defined in Rule 902 under the Securities Act) unless the transaction is registered under the Securities Act, an exemption from the registration requirements of the Securities Act is available or the transaction is not subject to registration under the Securities Act.

The Exchange Offers and Consent Solicitations are being made only pursuant to the Offering Memorandum. The Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations will be distributed only to holders of EIDP Notes who confirm that they are within the categories of eligible participants in the Exchange Offers and Consent Solicitations. None of Vylor, its directors or officers, the dealer managers and solicitation agents, the exchange agent, the information agent, the trustees for the Vylor Notes or the EIDP Notes, their respective affiliates, or any other person is making any recommendation as to whether holders should tender their EIDP Notes in the Exchange Offers or deliver related consents to the Proposed Amendments in the Consent Solicitations.

The complete terms and conditions of the Exchange Offers and Consent Solicitations are set forth in the Offering Memorandum. The Exchange Offers and Consent Solicitations are only being made pursuant to the Offering Memorandum. The Exchange Offers and Consent Solicitations are not being made to holders of EIDP Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER REGULATORY BODY HAS REGISTERED, RECOMMENDED OR APPROVED OF THE VYLOR NOTES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFERING MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

About Corteva

Corteva, Inc. (NYSE: CTVA) is a global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.

Cautionary Statement on Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the U.S. federal securities laws about Corteva, Vylor, EIDP, the Exchange Offers and Consent Solicitations and the Separation, including but not limited to all statements about the timing and consummation of the Exchange Offers and Consent Solicitations and the Separation, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current assumptions regarding future business and financial performance and, by their nature, address matters that are uncertain to different degrees. You can identify forward-looking statements by the use of words such as "plans," "expects," "will," "anticipates," "believes," "intends," "projects," "estimates," "outlook" or other words of similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from those set forth in such forward-looking statements, including but not limited to, the risk: (i) that general economic and capital markets conditions may adversely affect the Exchange Offers and Consent Solicitations or the Separation; (ii) that the conditions to the Exchange Offers and Consent Solicitations or the Separation may not be satisfied or waived; (iii) that any event, change or other circumstance could give rise to the termination of the Exchange Offers and Consent Solicitations and/or the Separation; (iv) of the effects that any termination of the Separation may have on Corteva or its subsidiaries; (v) that legal proceedings may be instituted related to the Separation or otherwise; (vi) of unexpected costs, charges or expenses; and (vii) of other risks and uncertainties described in Corteva's and EIDP's filings with the U.S. Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" (Item 1A) in Corteva's most recently filed Annual Report on Form 10-K and in Corteva's subsequent Quarterly Reports on Form 10-Q, and in other documents that Corteva or EIDP files or furnishes with the SEC. Neither Corteva nor EIDP undertakes any obligation to update or revise any forward-looking statement, except as required by applicable law.

SOURCE Corteva Agriscience

Shares of Agilent Technologies, Inc. (NYSE:A – Get Free Report) hit a new 52-week high during mid-day trading on Monday. The company traded as high as $174.77 and last traded at $174.67, with a volume of 488742 shares. The stock had previously closed at $172.79.

Wall Street Analysts Forecast Growth A number of brokerages recently weighed in on A. UBS Group initiated coverage on shares of Agilent Technologies in a report on Wednesday, September 9th. They issued a “neutral” rating and a $165.00 price target for the company. TD Cowen upped their price objective on Agilent Technologies from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Citigroup increased their price objective on Agilent Technologies from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. The Goldman Sachs Group lifted their target price on Agilent Technologies from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, Bank of America boosted their target price on Agilent Technologies from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $170.33.

Read Our Latest Report on A

Agilent Technologies Stock Down 0.1% The firm’s 50-day simple moving average is $150.90 and its 200 day simple moving average is $132.35. The company has a market cap of $49.37 billion, a P/E ratio of 34.47, a PEG ratio of 2.67 and a beta of 1.24. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.56 and a current ratio of 2.05. Agilent Technologies (NYSE:A – Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The medical research company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.13. Agilent Technologies had a return on equity of 24.45% and a net margin of 19.53%.The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the business posted $1.37 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Agilent Technologies has set its Q4 2026 guidance at 1.710-1.740 EPS and its FY 2026 guidance at 6.180-6.210 EPS. On average, research analysts forecast that Agilent Technologies, Inc. will post 6.2 earnings per share for the current fiscal year.

Agilent Technologies Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Tuesday, October 6th will be issued a dividend of $0.2550 per share. The ex-dividend date is Tuesday, October 6th. This represents a $1.02 dividend on an annualized basis and a yield of 0.6%. Agilent Technologies’s dividend payout ratio (DPR) is 20.08%.

Insider Transactions at Agilent Technologies In other news, Director Mikael Dolsten sold 634 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $151.38, for a total transaction of $95,974.92. Following the completion of the transaction, the director directly owned 4,924 shares in the company, valued at approximately $745,395.12. The trade was a 11.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows Institutional investors have recently bought and sold shares of the company. SHP Wealth Management acquired a new stake in Agilent Technologies in the fourth quarter worth $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Agilent Technologies in the 1st quarter valued at $27,000. Markowski Investments bought a new stake in shares of Agilent Technologies in the 2nd quarter valued at $27,000. MV Capital Management Inc. bought a new stake in shares of Agilent Technologies in the 4th quarter valued at $28,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in Agilent Technologies during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 87.41% of the company’s stock.

Agilent Technologies Company Profile (Get Free Report)

Agilent Technologies, Inc is an analytical measurement and laboratory technology company serving the life sciences, diagnostics, pharmaceutical, chemical, environmental, food, energy and academic research markets. Its solutions help laboratories analyze the composition, quality and performance of materials, biological samples and other substances.

The company’s products and services include liquid and gas chromatography systems, mass spectrometry instruments, spectroscopy equipment, laboratory automation tools, software, consumables and supplies.

Further Reading Five stocks we like better than Agilent Technologies CarMax Just Gave Investors a Better Reason to Believe in the Turnaround CoreWeave Comes With Risks: Analysts Split on What Matters Most Bottlenecking the Future: TSMC Prices Out the Competition Fervo Energy Hits Geothermal Milestone: Will It Matter For The Stock? Receive News & Ratings for Agilent Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Agilent Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

 | Source: Wave Life Sciences USA, Inc.

Candidate selected by GSK utilizes Wave’s best-in-class SpiNA design siRNA and triggers a milestone payment to Wave; three additional collaboration programs advancing

CAMBRIDGE, Mass., Sept. 30, 2026 (GLOBE NEWSWIRE) -- Wave Life Sciences, Inc. (Nasdaq: WVE), a clinical-stage biotechnology company focused on unlocking the broad potential of RNA medicines to transform human health, today announced that as part of the companies’ research collaboration, GSK has selected a candidate for a hepatology indication to transition into GSK’s development pipeline. This program was developed using Wave’s proprietary SpiNA design GalNAc-siRNA.

“The advancement of this development candidate by GSK reflects the recognition of Wave’s differentiated technology, including our best-in-class SpiNA design siRNA,” said Paul Bolno, MD, MBA. “Our SpiNA siRNA compounds demonstrate superior pharmacology, including improved potency, durability and Ago2 loading versus comparator formats. Our collaboration with GSK continues to leverage the versatility of our PRISM™ platform coupled with human genetic insights to advance novel oligonucleotide therapeutics. With this new hepatic program now transitioning to candidate, our collaboration momentum continues as we have three additional programs rapidly advancing towards candidate selection, all leveraging our proprietary PRISM chemistry.”

Wave will receive a $12 million milestone payment for this candidate selection. In addition, Wave is eligible to receive up to $330 - $375 million in development, launch, and commercial milestones for each collaboration program, plus tiered royalties on net sales. Wave is currently advancing three additional collaboration programs towards potential candidate selection.

About Wave Life Sciences
Wave Life Sciences (Nasdaq: WVE) is a biotechnology company focused on unlocking the broad potential of RNA medicines to transform human health. Wave’s PRISM® platform combines multiple RNA medicine modalities, chemistry innovation, and deep insights in human genetics to deliver scientific breakthroughs that treat both rare and common disorders. Its toolkit of RNA-targeting modalities, including RNAi (SpiNA) and RNA editing (AIMers), provides Wave with unmatched capabilities for designing and sustainably delivering candidates that optimally address disease biology. Wave’s pipeline is focused on its obesity (WVE-007), alpha-1 antitrypsin deficiency (WVE-006) and PNPLA3 I148M liver disease (WVE-008) programs, and also includes clinical programs in Duchenne muscular dystrophy and Huntington’s disease, as well as several preclinical programs utilizing the company’s versatile RNA medicines platform. Driven by the calling to “Reimagine Possible,” Wave is leading the charge toward a world in which human potential is no longer hindered by the burden of disease. Wave is headquartered in Cambridge, MA. For more information on Wave’s science, pipeline and people, please visit www.wavelifesciences.com and follow Wave on X and LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, our expectations for programs we develop using our proprietary SpiNA design GalNAc-siRNA and their best-in-class potential; our potential to earn substantial additional milestone payments and tiered royalties under our GSK collaboration; and our belief supported by data that our SpiNA siRNA compounds demonstrate superior therapeutic properties than comparator formats. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release and actual results may differ materially from those indicated by these forward-looking statements as a result of these risks, uncertainties and important factors, including, without limitation, the risks and uncertainties described in the section entitled “Risk Factors” in Wave’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC), as amended, and in other filings Wave makes with the SEC from time to time. Wave undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

Contact:
Kate Rausch
VP, Corporate Affairs and Investor Relations
+1 617-949-4827

Investors:
James Salierno
Director, Investor Relations
+1 617-949-4043
[email protected]

Media:
Katie Sullivan
Senior Director, Corporate Communications
+1 617-949-2936
[email protected]

BEDFORD, Mass., Sept. 30, 2026 (GLOBE NEWSWIRE) -- Lantheus Holdings, Inc. (“Lantheus” or the “Company”) (NASDAQ: LNTH), the leading radiopharmaceutical-focused company committed to enabling clinicians to Find, Fight and Follow disease to deliver better patient outcomes, today announced that the Centers for Medicare & Medicaid Services (“CMS”) has granted Transitional Pass-Through (“TPT”) payment status for PYLARIFY® TruVu™ (piflufolastat F18) injection, effective October 1, 2026. The designation enables separate reimbursement for PYLARIFY TruVu in the hospital outpatient setting and is intended to support access to innovative diagnostic radiopharmaceuticals for Medicare beneficiaries.

PYLARIFY TruVu is a new formulation of Lantheus’ F 18 prostate-specific membrane antigen (“PSMA”)-targeted PET imaging agent. PYLARIFY TruVu is indicated for positron emission tomography (“PET”) imaging of PSMA positive lesions in men with prostate cancer with suspected metastasis who are candidates for initial definitive therapy or suspected recurrence based on elevated serum prostate-specific antigen (PSA) level. In addition to receiving TPT status, PYLARIFY TruVu has been assigned a permanent Healthcare Common Procedure Coding System (“HCPCS”) code, effective October 1, 2026, facilitating billing and reimbursement for providers. Together, these milestones support patient access to PYLARIFY TruVu.

“The granting of Transitional Pass-Through status for PYLARIFY TruVu marks an important milestone as we prepare for commercial launch and the next phase of growth for our PSMA PET franchise,” said Amanda Morgan, Chief Commercial Officer of Lantheus. “Building on the proven clinical utility and broad adoption of PYLARIFY, this designation supports and enables patient access to advanced PSMA PET imaging. As we move toward a phased geographic rollout, PYLARIFY TruVu’s advantages have the potential to increase supply flexibility and expand geographic reach, helping us serve more patients while ensuring a seamless transition for customers.”

More than 900,000 patients have received a PSMA PET scan with PYLARIFY since the FDA granted approval in May 2021. Building on that foundation, PYLARIFY TruVu was developed to maintain the proven diagnostic characteristics of PYLARIFY while introducing formulation enhancements designed to improve manufacturing efficiency, increase supply flexibility and support broader geographic reach. These enhancements have the potential to enable larger batch sizes at select manufacturing facilities and support access for more patients. Lantheus expects to introduce PYLARIFY TruVu through a phased geographic rollout to support a seamless transition for customers.

About Prostate Cancer
Prostate cancer is the second most common form of cancer affecting men in the U.S. An estimated 1 in 8 men will be diagnosed in their lifetime. The incidence rate for prostate cancer has been increasing since 2014 at a rate of 3% per year overall. For 2026, estimates suggest nearly 334,000 new cases and more than 36,000 deaths. Prostate cancer can be a serious disease and is the second-leading cause of cancer death in men (behind lung cancer), but most men diagnosed with prostate cancer do not die from it. In fact, more than 3.5 million men in the U.S. consider themselves prostate cancer survivors.1

PYLARIFY TruVuTM (piflufolastat F 18) Injection
PYLARIFY TruVuTM (piflufolastat F 18) injection (also known as 18F-DCFPyL or PyL) is a fluorinated small molecule PSMA-targeted PET imaging agent that enables visualization of lymph nodes, bone and soft tissue metastases to determine the presence or absence of recurrent and/or metastatic prostate cancer.2,3

PYLARIFY TruVu was developed to build on the success of PYLARIFY®, the number one utilized PSMA PET imaging agent in the U.S. which has been used in over 900,000 scans across 48 states, Puerto Rico and Washington, D.C.4

INDICATION 
PYLARIFY® (piflufolastat F 18) and PYLARIFY TRUVUTM (piflufolastat F 18) Injection are indicated for positron emission tomography (PET) of prostate-specific membrane antigen (PSMA) positive lesions in men with prostate cancer: 

with suspected metastasis who are candidates for initial definitive therapy. with suspected recurrence based on elevated serum prostate-specific antigen (PSA) level. 
  IMPORTANT SAFETY INFORMATION

WARNINGS AND PRECAUTIONS 
Risk of Image Misinterpretation 
Imaging interpretation errors can occur with PYLARIFY and PYLARIFY TRUVU imaging. A negative image does not rule out the presence of prostate cancer and a positive image does not confirm the presence of prostate cancer. The performance of PYLARIFY and PYLARIFY TRUVU for imaging biochemical evidence of recurrence of prostate cancer seems to be affected by serum PSA levels. The performance of PYLARIFY and PYLARIFY TRUVU for imaging of metastatic pelvic lymph nodes prior to initial definitive therapy seems to be affected by risk factors such as Gleason score and tumor stage. PYLARIFY and PYLARIFY TRUVU uptake is not specific for prostate cancer and may occur with other types of cancer as well as non-malignant processes and in normal tissues. Clinical correlation, which may include histopathological evaluation, is recommended. 

Hypersensitivity Reactions
Monitor patients for hypersensitivity reactions, particularly those with a history of allergy to other drugs and foods. Reactions may be delayed. Always have trained staff and resuscitation equipment available. 

Radiation Risks 
PYLARIFY and PYLARIFY TRUVU, expose patients to radiation. Radiation exposure is associated with a dose-dependent increased risk of cancer. Ensure safe handling and preparation procedures to protect patients and health care workers from unintentional radiation exposure. Advise patients to hydrate before and after administration and to void frequently after administration.

ADVERSE REACTIONS 
The most frequently reported adverse reactions were headaches, dysgeusia and fatigue, occurring at rate of ≤2% during clinical studies. In addition, a delayed hypersensitivity reaction was reported in one patient (0.2%) with a history of allergic reactions. 

DRUG INTERACTIONS 
Androgen deprivation therapy (ADT) and other therapies targeting the androgen pathway, such as androgen receptor antagonists, may result in changes in uptake of PYLARIFY and PYLARIFY TRUVU in prostate cancer. The effect of these therapies on performance of PYLARIFY and PYLARIFY TRUVU PET has not been established.

 To report suspected adverse reactions for PYLARIFY or PYLARIFY TRUVU, call 1-800-362-2668 or contact FDA at 1-800-FDA-1088 or

www.fda.gov/medwatch. Please see the full Prescribing Information for

PYLARIFY and

PYLARIFY TRUVU.

Safe Harbor for Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by their use of terms such as “can,” “continue,” “designed,” “enables,” “enhance,” “ensuring,” “expects,” “improve,” “intended,” “next chapter,” “phased,” “potential,” “prepare,” “priority,” “transition,” “will,” “work” and other similar terms. Such forward-looking statements are based upon current plans, estimates and expectations that are subject to risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. Lantheus undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements include (i) our ability to complete the technology transfer across our PET manufacturing facilities (“PMF”) network for PYLARIFY TruVu and to obtain FDA approval for each PMF to manufacture PYLARIFY TruVu in accordance with our planned rollout plan and without disruption to our supply chain; (ii) our ability to have payers add HCPCS coding to their systems on a timely basis and to have customers adopt PYLARIFY TruVu; (iii) the ability of our PMF network to supply PYLARIFY TruVu to the market; (iv) the ability of PMF sites with high‑energy cyclotrons to increase batch sizes or to reach more patients and serve broader geographic markets; (v) the intellectual property protection of PYLARIFY TruVu; and (vi) the risk and uncertainties discussed in our filings with the Securities and Exchange Commission (including those described in the Risk Factors section in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q).

About Lantheus
Lantheus is the leading radiopharmaceutical-focused company, delivering life-changing science to enable clinicians to Find, Fight and Follow disease to deliver better patient outcomes. Headquartered in Massachusetts with offices in New Jersey, Canada, Germany, Sweden, Switzerland and the United Kingdom, Lantheus has been providing radiopharmaceutical solutions for 70 years. For more information, visit www.lantheus.com.

Contacts:
Lantheus
Mark Kinarney
Vice President, Investor Relations
978-671-8842
[email protected]

Melissa Downs
Executive Director, External Communications
646-975-2533
[email protected]

Multimedia assets for media are available here.

1American Cancer Society. Cancer Facts & Figures 2026. Atlanta: American Cancer Society; 2026.
2Pienta KJ, Gorin MA, Rowe SP, et al. A phase 2/3 prospective multicenter study of the diagnostic accuracy of prostate specific membrane antigen PET/CT with 18F-DCFPyL in prostate cancer patients (OSPREY). J Urol. 2021;206(1):52-61.
3Morris MJ, et al; CONDOR Study Group. Diagnostic Performance of 18F-DCFPyL-PET/CT in Men with Biochemically Recurrent Prostate Cancer: Results from the CONDOR Phase III, Multicenter Study. Clin Cancer Res. 2021 Jul 1;27(13):3674-3682. doi: 10.1158/1078-0432.CCR-20-4573. Epub 2021 Feb 23. PMID: 33622706; PMCID: PMC8382991.
4Data on file.

Only Abbott offers a complete screening solution combining end-to-end support with both stool- and blood-based colorectal cancer screening options, giving healthcare providers more ways to help eligible patients get screened1-3 SimpleScreen CRC expands screening options for adults age 45 and older, providing another way to help reach people who otherwise may remain unscreened SimpleScreen CRC is covered by Medicare, with no out-of-pocket costs for eligible patients with Medicare Part B , /PRNewswire/ -- Abbott (NYSE: ABT) today announced the U.S. commercial launch of SimpleScreen™ CRC, an FDA-approved blood-based colorectal cancer (CRC) screening test for adults age 45 and older who are at average risk for the disease. Developed and manufactured by Freenome and exclusively commercialized by Abbott, SimpleScreen CRC joins the Cologuard Plus® test in Abbott's colorectal cancer screening portfolio, providing another way to help reach people who otherwise may remain unscreened.

Colorectal cancer is the second-leading cause of cancer-related death in the U.S., yet it is preventable and highly treatable when detected early through screening.4 Up to 60 million Americans remain due for recommended screening, emphasizing the need for more ways to help eligible people complete screening.5

With Cologuard Plus, an American Cancer Society (ACS)-preferred stool-based screening option, and SimpleScreen CRC, a blood-based option for eligible adults who decline or do not complete preferred screening, Abbott provides tests that help healthcare providers match more patients with an appropriate screening option while keeping prevention and early detection at the forefront.

"We still see too many eligible patients who remain unscreened. Expanding the ways patients can participate in screening gives clinicians another opportunity to address those barriers," said Dr. Folasade May, director of quality in digestive diseases at UCLA Health and co-founder and board member of the Association of Black Gastroenterologists and Hepatologists. "For someone who has declined or does not complete preferred approaches, the option of a blood draw may be what helps them finally take action. It can help us keep the conversation going and offer another path to screening."

The ACS recommends several preferred CRC screening options, including stool-based tests and direct visual tests.3 All blood-based screening should be recommended only for individuals who decline or do not complete a preferred screening option. For those patients, SimpleScreen CRC provides a convenient way to get screened through a simple blood draw.

"More screening options for colorectal cancer only matter if we help more people get screened," said Jake Orville, senior vice president of Abbott's cancer diagnostics business. "Our goal is to help connect each person with an appropriate screening test that is right for them and support them through completion. That means prioritizing the Cologuard Plus test for average-risk patients, colonoscopy for those who need it, and now offering SimpleScreen CRC as a blood-based option for appropriate patients who decline or do not complete a preferred screening test. With our portfolio, Abbott can help healthcare providers and patients prioritize screening and prevention while providing another path to screening for people who might otherwise go unscreened."

Clinically validated in more than 48,000 adults
SimpleScreen CRC detects signals associated with colorectal cancer, utilizing circulating cell-free DNA (cfDNA) in the blood. The test was evaluated in PREEMPT CRC, the largest prospective clinical validation study conducted for a blood-based colorectal cancer screening test. The study enrolled more than 48,000 asymptomatic, average-risk adults ages 45 to 85 who were scheduled for screening colonoscopy.6

In a prespecified analysis adjusted to match the U.S. Census, SimpleScreen CRC demonstrated 81.1% overall sensitivity for colorectal cancer, including 63.5% sensitivity for Stage I CRC; 13.7% sensitivity for advanced precancerous lesions; and 90.4% specificity for advanced colorectal neoplasia. In practical terms, the test correctly detected about eight in 10 colorectal cancers while correctly producing negative results for nine in 10 people without colorectal cancer or advanced precancerous lesions.2

SimpleScreen CRC is covered by Medicare. Eligible patients with Medicare Part B will have no out-of-pocket costs. Medicare Advantage patients may have out-of-pocket costs.

More than a test: support designed to help patients complete screening 
Choosing a screening test is only one step in the screening journey. With SimpleScreen CRC, Abbott is extending the patient support experience and infrastructure built through Cologuard to help eligible patients move from an order to a completed test and understand the next steps in the screening journey.

SimpleScreen CRC is backed by Abbott's patient navigation program, with support that includes blood-draw coordination, patient outreach and screening reminders, bilingual specialists and translation services, insurance assistance, follow-up support and repeat-screening reminders. Patients have flexible options for completing their blood draw, including at home through mobile phlebotomy or at a participating lab, helping make screening easier to fit into patients' lives.

A patient with a positive result should receive a timely follow-up colonoscopy to complete the screening process, consistent with American Cancer Society recommendations.

About SimpleScreen CRC
SimpleScreen CRC is an FDA-approved blood-based colorectal cancer screening test for adults age 45 and older who are at average risk for the disease. Developed and manufactured by Freenome and distributed by Abbott in the U.S., the test utilizes circulating cell-free DNA from a simple blood draw to detect signals associated with colorectal cancer. SimpleScreen CRC expands Abbott's colorectal cancer screening solution, providing an additional option to help reach eligible patients who may otherwise remain unscreened.

The American Cancer Society recommends blood-based CRC screening for eligible individuals who decline or do not complete a preferred stool-based or visual screening test. SimpleScreen CRC is intended to serve as an alternative for these patients, alongside Abbott's Cologuard Plus® test, a preferred noninvasive screening option. A positive SimpleScreen CRC result should be followed by colonoscopy to complete the screening process.

About Abbott: 
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 122,000 colleagues serve people in more than 160 countries.

Connect with us at www.abbott.com, and on LinkedIn, Facebook, Instagram, X and YouTube. 

Cologuard Plus Clinician Brochure. Exact Sciences Corporation. Madison, WI. SimpleScreen CRC Provider Brochure. Freenome LLC. Brisbane, CA. Wolf AMD, Hoffman RM, Walter LC, et al. Colorectal cancer screening: an update to the American Cancer Society guideline, 2026. CA Cancer JClin. 2026;76(3): e70083. Siegel RL, Kratzer TB, Wagle NS, et al. Cancer statistics, 2026. CA Cancer J Clin. 2026;e70043. Ebner DW, Kisiel JB, Fendrick AM, et al. Estimated Average-Risk Colorectal Cancer Screening-Eligible Population in the US. JAMA Netw Open. 2024;7(3):e245537. Shaukat A, Burke CA, Chan AT, et al. Clinical Validation of a Circulating Tumor DNA-Based Blood Test to Screen for Colorectal Cancer. JAMA. 2025;334(1):56-63. SOURCE Abbott

U.S. stock futures were mixed this morning, with the Dow futures gaining around 0.2% on Wednesday.

Shares of Concentrix Corporation (NASDAQ:CNXC) fell sharply in pre-market trading after the company reported mixed third-quarter financial results and issued weak guidance for the current quarter. Also, the company narrowed its FY26 adjusted EPS guidance and cut its FY26 sales guidance below estimates.

Concentrix reported quarterly earnings of $2.92 per share which beat the analyst consensus estimate of $2.71 per share. The company reported quarterly sales of $2.454 billion which missed the analyst consensus estimate of $2.476 billion.

Concentrix shares dipped 10.6% to $22.25 in pre-market trading.

Here are some other stocks moving lower in pre-market trading.

Trulieve Cannabis Corp (NYSE:TRLV) fell 5.3% to $11.75 in pre-market trading.Moderna Inc (NASDAQ:MRNA) dipped 5.3% to $192.69 in pre-market trading after gaining 3% on Tuesday.WPP PLC (NYSE:WPP) fell 4.4% to $24.14 in pre-market trading.NN Inc (NASDAQ:NNBR) declined 4.4% to $3.71 in pre-market trading after gaining 4% on Tuesday. The company recently raised its FY2026 sales guidance.Elevra Lithium Limited (NASDAQ:ELVR) declined 4.1% to $39.24 in pre-market trading.Nextdoor Holdings Inc (NYSE:NXDR) fell 4.1% to $2.35 in pre-market trading.Cal-Maine Foods, Inc. (NASDAQ:CALM) dropped 4% to $65.82 in pre-market trading following weak first-quarter results.Iperionx Ltd (NASDAQ:IPX) declined 3.8% to $17.60 in pre-market trading following a 2% drop on Tuesday.Chimera Investment Corp (NYSE:CIM) fell 3.8% to $9.81 in pre-market trading.Photo via Shutterstock

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Launch Advances SEI's International Growth Strategy and Brings Leading Asset Servicing Capabilities to the Region

, /PRNewswire/ -- SEI® (NASDAQ: SEIC) today announced the opening of its Singapore office, a strategic milestone that extends the company's global operations into one of the region's most important financial centers. SEI will initially offer services aligned with current client demand and market opportunities, including asset servicing, professional services, and the distribution of SEI's UCITS funds. As client adoption accelerates, the company expects to expand its regional capabilities, introduce additional locally relevant products, and further expand its enterprise asset management, technology, operations, and professional services offerings across Asia-Pacific.

This expansion supports the continued growth and influence of the region's asset management sector. Sitting at the intersection of technology, operations, fund administration, and asset management, SEI's launch in Singapore comes at a time of strong growth in the industry. Assets under management (AUM) at Singapore-based firms grew by 10% from the previous year to reach S$6.7 trillion in 2025, their highest ever level.1 With a global outlook, Singapore-based asset managers source more than three-fifths of AUM outside Singapore and 88% is invested globally.2

SEI's launch in Singapore follows a period of strong business momentum, with demand accelerating across its technology, operations, and investment capabilities. SEI provides asset servicing for 48 of the world's 100 largest asset managers3 and is one of the top five largest administrators of private assets globally.4 The Singapore office will strengthen the company's ability to support global clients with Asian operations or regional growth ambitions while creating a platform to build new relationships in one of the world's leading asset management hubs.

Connall McGuckian has been named Managing Director, Head of Singapore, responsible for driving growth in Asia-Pacific through SEI's integrated financial technology, operations, and asset management capabilities. McGuckian joins SEI from State Street Singapore, where he spent close to 14 years, most recently serving as Chief Operating Officer for the firm's Alternatives Investment Solutions in Asia-Pacific. He joined State Street in 2012 following its acquisition of Goldman Sachs Administration Services. Prior to that, he spent nine years at Goldman Sachs, relocating to Singapore in 2011 to establish Goldman Sachs Administration Services in Asia.

Sanjay Sharma, CEO of SEI International and Global Head of SEI's Private Banking business, commented:

"Singapore is a critical market for SEI's growth in Asia-Pacific and an important milestone in the evolution of our international business. As part of our international growth strategy, we're investing in markets where we believe we deliver the greatest value to clients.

"Singapore's prominence as a global financial center, combined with the continued growth of the region's asset management industry, makes it an ideal location to expand our presence. Clients are increasingly looking for scalable, connected solutions that help them operate more efficiently, navigate complexity, and pursue growth across markets and jurisdictions. Connall's leadership and deep industry experience will be instrumental as we align SEI's capabilities with the evolving needs of clients in Singapore and across the broader Asia-Pacific region."

McGuckian added:

"As Asia-Pacific financial services firms look to expand across markets and asset classes, they need strategic partners that can help them navigate change, facilitate scale, simplify complexity, and position them for long-term growth. SEI brings the global infrastructure, operational expertise, technology capabilities, and professional services to enable clients to operate more efficiently. Establishing a presence in Singapore allows SEI to tap into exceptional local talent while supporting the continued growth and evolution of Asia's asset management industry. I look forward to growing SEI's client base and bringing the strength of its global platform to clients across the region."

1,2Monetary Authority of Singapore, Singapore Asset Management Survey 2025.
3Pensions & Investments' "Largest Money Managers" 2025 ranking, as of June 30, 2026
4Preqin, Private Assets Fund Administrator rankings, January 2026. Based on AUA.

About SEI®
SEI (NASDAQ: SEIC) is a leading global provider of financial technology, operations, and asset management services within the financial services industry. SEI tailors its solutions and services to help clients more effectively deploy their capital — whether that's money, time, or talent — so they can better serve their clients and achieve their growth objectives. As of June 30, 2026, SEI manages, advises, or administers approximately $2.1 trillion in assets. For more information, visit seic.com.

Forward-looking statements
This communication contains forward-looking statements within the meaning of the rules and regulations of the Securities and Exchange Commission. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "expect," "believe," "can," "continue," "seek," or similar expressions.

SEI's forward-looking statements include its current expectations as to:

the potential benefits of the expansion of SEI's capabilities, products, and services in Singapore and across the Asia-Pacific region; the potential benefits of SEI's Singapore office, including its ability to support clients, build new relationships, and grow its regional client base; and SEI's ability to execute its international growth strategy and respond to evolving market opportunities and client needs. You should not place undue reliance on any forward-looking statements, as they are based on the current beliefs and expectations of management and are subject to significant risks and uncertainties, many of which are beyond management's control or are subject to change. Although management believes the assumptions upon which the forward-looking statements are based are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in SEI's forward-looking statements can be found in the "Risk Factors" section of SEI's Annual Report on Form 10-K for the year ended Dec. 31, 2025, filed with the Securities and Exchange Commission. SEI undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

© 2026 SEI

SOURCE SEI Investments Company

Inside Information

Agreement provides long-term expanded access to Catalent's fast-dissolving (Zydis®) tablet formulation technology.Supply robustness secured with prioritised manufacturing capacity increase of ~40% to 1.1 billion tablets annually from early 2030s.Over three years, ALK to invest DKK 500 million in capacity at Catalent. ALK (ALKB:DC / Nasdaq Copenhagen: ALK B) today announced that it has expanded its long-standing contract manufacturing partnership with Catalent, Inc. ("Catalent"), a leader in enabling the development and supply of better treatments for patients worldwide. Establishing long-term supply robustness is a strategic priority for ALK, and the expanded agreement secures ALK long-term access to Catalent's Zydis® technology for all its allergen products, including potential future tablets for peanut and tree nut allergies.

The agreement also secures additional production capacity to sustain the expected future demand for ALK’s SLIT (sublingual immunotherapy) tablet portfolio. Based on production sites in the UK and Canada, ALK expects to increase its annual tablet capacity by an additional 300 million to 1.1 billion tablets from early 2030s and beyond.

Peter Halling, President & CEO, said: “We are very pleased to reinforce our long-standing collaboration with Catalent, which plays an important role in producing ALK's SLIT tablets. This partnership, already in place for more than two decades, has the potential to become one of the longest lasting in pharma. The expanded partnership underscores the unique durability of our core business model – with no patent cliff to manage – while the strengthened supply chain and added capacity secure our ability to serve many more people with allergy for years to come.”

Terms and financials
Under the terms of the agreement, ALK will commit total payments to Catalent of approximately DKK 500 million to secure the capacity expansion. These payments will be capitalised over three years on the balance sheet under ‘prepayments’ and amortised over the duration of the contract. The development in future manufacturing costs is expected to offset these initial payments over time.

The agreement does not affect ALK's financial guidance for 2026 or ALK's long-term financial targets.

ALK-Abelló A/S

For further information please contact:

Investor Relations: Per Plotnikof, tel. +45 4574 7527, mobile +45 2261 2525

Media: Maiken Riise Andersen, tel. +45 5054 1434

This announcement contains inside information. This is information that ALK-Abelló A/S is obliged to make public pursuant to the EU Market Abuse Regulation.

About ALK
ALK is a global specialty pharmaceutical company focused on allergy. ALK's activities cover the entire value chain of developing, sourcing, producing, and marketing a diversified portfolio of products for diagnosing and treating respiratory allergies and severe allergic reactions (anaphylaxis) in both children and adults. Headquartered in Denmark, ALK employs around 2,800 people worldwide and is listed on Nasdaq Copenhagen (Nasdaq: ALK B). Visit us at www.alk.net.

About Catalent
Catalent, Inc. is a leading global contract development and manufacturing organisation (CDMO) delivering tailored, end-to-end solutions across all phases of development and manufacturing for pharma, biotech and consumer health customers, and supplying billions of doses annually from nearly 40 global sites.
Among its proprietary technologies is Zydis®, a freeze-dried orally disintegrating tablet formulation that disperses almost instantly in the mouth, offering a fast, convenient and palatable dosage form – particularly suited to patients, such as children, who may struggle with conventional tablets.

Company release_15_26UK_300926_Expansion Catalent contract

Transaction marks the first realization from the now closed specialist animal health fund's inaugural vehicle

, /PRNewswire/ -- Chicago Pacific Founders ("CPF") today announced the exit of its investment in CoVetAI Inc. ("CoVet") following the company's acquisition by IDEXX Laboratories, Inc. (NASDAQ: IDXX). Financial terms were not disclosed.

Transaction Overview

CoVet, developer of an AI-powered clinical scribe and workflow platform for veterinary medicine, was a high-conviction investment aligned with the CPF's focus on category-defining companies in veterinary technology and pet wellness. CPF was the sole institutional investor in CoVet.

IDEXX's acquisition underscores CoVet's strategic relevance within the veterinary diagnostics and practice software ecosystem, and the growing role of AI-enabled clinical tools in companion animal care.

Commentary
"We believe CoVet represents the future of veterinary medicine. In a short time, it has become a valuable tool for veterinarians and clinical support staff around the world, giving them back time to focus on patients. We are proud to have partnered with Yannick, Mike, and the CoVet team from the early stages, and, in our view, IDEXX is the ideal home to carry that mission forward at global scale," said Gina Del Vecchio, Partner of the CPF Pet Fund.

"CPF has been far more than an investor. They have consistently been there with thoughtful advice, honest feedback, and genuine support whenever we needed it. They bring a truly founder-first mindset, operate with integrity, and add value well beyond the capital they invest," said Yannick Bloem, Chief Executive Officer of CoVet.

Portfolio and Market Context
With six portfolio investments to date, the Fund continues to demonstrate the durability of its thesis: operator-led, sector-specialized investing in animal health generates differentiated outcomes. The Fund focuses on companies at the intersection of veterinary innovation, diagnostics, therapeutics, technology-enabled care, and consumer pet innovation — a segment benefiting from a global companion animal market that is currently $288.4 billion. The market has demonstrated resilience through economic cycles for more than three decades and is projected to grow at a CAGR of 8% to reach $560.7 billion by 2034.

About Chicago Pacific Founders
Chicago Pacific Founders ("CPF") is a operator-led strategic private equity and venture firm focused on investing in growth companies within value-based care, healthcare services, AI and tech enabled services, pet health, and caring for aging populations. Additionally, CPF has a vertically integrated Senior Housing strategy and a complementary medical office investment strategy that leverages CPF's extensive healthcare industry relationships. CPF's leadership team is made up of former healthcare founders, senior executives, and investment professionals with a passion and track record of building healthcare businesses.  For more information, please visit www.cpfounders.com.

About Chicago Pacific Founders Pet Fund – Off Leash Capital, L.P.
Chicago Pacific Founders Pet Fund – Off Leash Capital, L.P. is the animal health and wellness growth fund of CPF. The Fund partners with founders building companies that help pets live healthier, happier lives, leveraging deep sector experience and an operator-led model to accelerate growth. The Fund closed on September 16, 2026, and is no longer accepting new investors. For more information, visit www.offleashcapital.com.

About CoVet
CoVet is an AI-powered clinical assistant for veterinary professionals. The platform automates medical record documentation and clinical workflows so veterinarians and support staff can spend less time on administrative tasks and more time with patients. CoVet serves practices and enterprise veterinary groups across North America and Europe. For more information, visit www.co.vet

About IDEXX Laboratories
IDEXX Laboratories, Inc. (NASDAQ: IDXX) is a global leader in veterinary diagnostics and information technology solutions that support advanced medical care and operational efficiency for veterinary practices. For more information, visit www.idexx.com.

SOURCE Chicago Pacific Founders

SummaryMarvell Technology, Inc. maintains a Strong Buy rating as fiscal 2028 guidance rises to $18 billion revenue, driven by broad-based connectivity growth.MRVL’s operating margin is guided toward 38–40% by Q4, with fiscal 2028 EPS estimated at $6.30–$6.70, making shares cheaper on forward earnings.Scale-up optics and near-packaged optics, or NPO, represent a meaningful upside, with fiscal 2028 optics revenue expected to exceed $300 million and further ramping in fiscal 2029.Significant purchase commitments ($8.5 billion) pose risk for MRVL if AI demand slows, but current net debt and production cost coverage provide a near-term cushion. Sundry Photography/iStock Editorial via Getty Images

When I last wrote about Marvell Technology, Inc. (MRVL) on Aug. 21, the stock was sitting around $251. A week after earnings, it closed at $206.48 on Sept. 2.

That was $0.10 below the $206.58

5.02K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of GOOGL either through stock ownership, options, or other derivatives. 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.

Jabil (JBL.N) forecast profit and revenue for the fiscal year 2027 above Wall ​Street estimates on Wednesday, as the ‌electronics component maker banks on demand from AI data centers.

Rising investments in data center infrastructure, driven by ​strong demand for computing capacity to ​support AI technologies, have benefited electronics ⁠companies such as Jabil.

CEO Mike Dastoor said ​Jabil's fiscal 2027 outlook was driven by ​strong AI demand and growth across sectors including automotive, healthcare, energy infrastructure, defense and aerospace, and ​warehouse and retail automation

Jabil makes servers, ​networking gear and other hardware supporting artificial intelligence workloads

It ‌expects ⁠full-year 2027 revenues of $44.5 billion, above analysts' average expectations of $42.79 billion, according to data compiled by LSEG

The company expects annual adjusted earnings ​per share of $17.55, ​above ⁠analysts estimates of $16.87

The manufacturer, which makes components for Apple (AAPL.O), posted fourth-quarter ​adjusted profit per share of $4.40, ​above ⁠analysts' expectations of $4.07

Fourth-quarter revenue rose 28.6% to $10.62 billion, beating Wall Street estimates of $9.71 billion

Shares of the St. ⁠Petersburg, ​Florida-based company were down ​2% in premarket trading following the results

~ SImmetry+ System generated approximately $1.2 million in incremental revenue during limited launch period ~

~ Company plans to support anticipated demand for the SImmetry+ System by expanding its instrument set inventory as needed ~

~ New SImmetry+ 3D printed screw is the first component of a next-generation lateral SI joint fusion system, and the first of several Company product launches expected in the coming quarters ~

LOS GATOS, CA / ACCESS Newswire / September 30, 2026 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company redefining care for patients with sacro-pelvic disorders, today announced the full commercial launch of its new titanium 3D- printed lateral screw as part of the SImmetry+ SI Joint Fusion System following the successful completion of the implant's Alpha launch. The limited Alpha launch, involving existing SImmetry users and new physicians, generated approximately $1.2 million (1) in incremental revenue for a period beginning in late Q4 2025 through Q3 2026. The Company plans to support anticipated demand for the SImmetry+ System by expanding its instrument set inventory as needed.

Physician feedback from the Alpha launch was positive, with users highlighting the system's new screw design along with the system's ability to decorticate the joint prior to implantation, a step intended to strengthen joint fusion. SImmetry+ is a novel, minimally invasive, lateral and posterior oblique-access SI joint fusion system featuring new 3D-printed titanium implants and proprietary instrumentation. The System is built on established orthopedic principles, including joint decortication, bone graft delivery, and fixation, to achieve fusion of the sacroiliac joint in an efficient manner.

In response to input from Alpha users and newly trained surgeons preparing for their first cases, Tenon has expanded the SImmetry+ portfolio with two additional implant sizes, broadening the range of patient anatomies the system can address.

"We are very pleased with the early performance of the SImmetry+ SI Joint Fusion System and the strong feedback we've received from physician users," said Steven M. Foster, President and CEO of Tenon Medical. "We believe that this milestone supports the strategic rationale behind our acquisition of SImmetry+ in August 2025. Early case volume and revenue generated during the Alpha launch support our view that this platform can be a meaningful growth driver as we move into full commercial launch. Our re-engineered SImmetry+ screw is the first component of a next-generation lateral SI joint fusion system, and the first of several product launches we expect in the coming quarters, each designed to further improve patient outcomes and ease of use."

The choice of surgical approach to the SI joint is typically driven by physician training and experience. Tenon is the only company we know of offering multiple SI joint fusion approaches tailored to user preference: lateral and posterior oblique approaches with the SImmetry+ System, and an inferior-posterior approach with the Catamaran® SI Joint Fusion System. Both platforms are designed to provide immediate fixation, with long-term fusion as the goal. This breadth is intended to allow Tenon to serve a wider range of physicians and expand its reach across the SI joint fusion market.

"The goal of SI joint fusion is to stabilize the joint by reducing the micromotion that causes pain," said Ali Araghi, D.O., orthopedic spine surgeon at The CORE Institute in Phoenix, Arizona. "Achieving a true, long-term fusion of the SI joint can be a key component of favorable patient outcomes. The SImmetry+ System, with its unique 3D-printed implants designed for fixation and stability, allows me to treat the SI joint using principles consistent with traditional orthopedic fusion. I found the instrumentation and implants to be very effective and simple to use in these initial Alpha cases, and I look forward to continued advancements that further improve long-term outcomes and satisfaction for my SI joint patients."

The SImmetry+ and Catamaran® SI Joint Fusion Systems form the cornerstone of Tenon's growing portfolio of advanced technologies. The Company believes that together, they give Tenon a unique position in the market: three minimally invasive surgical approaches, each designed with the goal of achieving true arthrodesis, and supported by clinical evidence from the published prospective MAINSAIL™ and EVoluSIon™ studies. This differentiated portfolio allows physicians to tailor treatment to each patient, and, in the Company's view, positions Tenon to capture a broader share of the SI joint fusion market.

(1) This figure is preliminary and unaudited, is not necessarily indicative of future results.

About Tenon Medical, Inc.

Tenon Medical, Inc. is a medical device company dedicated to transforming care for patients with certain sacro-pelvic disorders. Tenon was incorporated in the State of Delaware in 2012 and currently offers two systems to treat a diseased sacroiliac joint (the "SI Joint"). The Company has developed The Catamaran™ SI Joint Fusion System that offers a novel, less invasive approach to the SI Joint using a single, robust titanium implant. In August 2025, the Company acquired substantially all of the assets of SiVantage, Inc. and SIMPL Medical, LLC, including the SImmetry+® SI Joint Fusion System, which treats disorders of the SI Joint through a minimally invasive lateral access solution that incorporates well-established orthopedic fusion principles. Since the national launch of The Catamaran System in October 2022, Tenon has been focused on three commercial opportunities: 1) primary SI Joint procedures, 2) revision procedures of failed SI Joint implants and 3) SI-Joint fusion adjunct to a spine fusion construct.

For more information, please visit www.tenonmed.com. Information on the Company's website does not constitute a part of and is not incorporated by reference into this press release.

The Tenon Medical logo shown above, and Catamaran®, PiSIF®, CAT PiSIF®, ETAD®, Posterior Inferior Sacroiliac Fusion®, CAT SIJ Fusion System®, Catamaran SIJ Fusion System®, Catamaran Inferior Posterior Fusion System®, Catamaran Transfixation Fusion System®, Catamaran Transfixation Fusion Device®, SImmetry® are registered trademarks of Tenon Medical, Inc. MAINSAILTM is also a trademark of Tenon Medical, Inc.

Safe Harbor

This press release contains "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are statements related to events, results, activities or developments that Tenon expects, believes or anticipates will or may occur in the future. Forward-looking statements often contain words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "seek," "believes," "see," "should," "will," "would," "target," and similar expressions and the negative versions thereof. These forward-looking statements include, but are not limited to, statements regarding the anticipated commercial performance, adoption and demand for the SImmetry+ system; the timing of deployment of additional instrument sets; the development and timing of the next-generation lateral SI joint fusion system and future product launches; the SImmetry+ platform as a growth driver; the expected benefits of the Company's acquisition of SiVantage, Inc. and SIMPL Medical, LLC; the Company's market position and ability to expand market share; and anticipated clinical outcomes. Such statements are based on Tenon's experience and perception of current conditions, trends, expected future developments and other factors it believes are appropriate under the circumstances, and speak only as of the date made. Forward-looking statements are inherently uncertain and actual results may differ materially from assumptions, estimates or expectations reflected or contained in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements. For details on the uncertainties that may cause Tenon's actual results to be materially different than those expressed in any forward-looking statements, please review Tenon's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as updated from time to time in Tenon's Form 10-Q filings and in Tenon's other public filings on file with the SEC at www.sec.gov, particularly the information contained in the sections entitled "Risk Factors." We undertake no obligation to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise, except as required by applicable law.

Investor Contact
Shannon Devine
MZ North America
203-741-8811
[email protected]

SOURCE: Tenon Medical

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DoorDash is providing more ways for gig workers to earn cash, including by assisting autonomous systems such as robotaxis and delivery bots. Bloomberg/Getty Images DoorDash workers are increasingly doing more than just delivering as the company adds new services and autonomous offerings.

At the company's San Francisco headquarters on Tuesday, Cody Aughney, DoorDash's vice president of dasher & logistics, said its gig workers — known as Dashers — have completed more than 5 million tasks that didn't involve traditional delivery work since 2024.

Aughney said those tasks include assisting autonomous vehicles and helping retailers get updated photos of their shelves and inventory.

Gig workers on the app have been able to take on smaller tasks for extra cash.

Waymo, Alphabet's robotaxi service and a DoorDash partner, has already been enlisting nearby Dashers to close doors passengers leave ajar — an operational gap that comes when the human is removed from the driver's seat. One Reddit post showed how a driver was offered $11.25 to close a Waymo door, Business Insider previously reported.

Harrison Shih, the head of DoorDash's drone program, told Business Insider that a Dasher could be dispatched to clean up a spill and that the range of tasks will evolve as the company expands its autonomous services.

The work could include helping Dot, DoorDash's delivery robot, if it's ever flipped over, Shih said. Delivery bots can be a target of vandalism or trip up in the dense urban environments they typically operate in.

"One thing we believe about autonomous systems is that they're not stand-alone," Shih said. "I think this is a little bit of the misnomer of autonomous systems."

DoorDash is also launching a new service called Dasher Returns, in which a driver picks up a customer's return item and takes it to the appropriate retailer for a flat fee.

"Dasher Mike heads to the store, he finds parking, he waits in line, and he makes sure that my return is processed," Shanna Prevé, chief revenue officer at DoorDash, said in a presentation.

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Lloyd Lee You're currently following this author! Click to unsubscribe from email alerts.

Lloyd Lee is a reporter at Business Insider covering frontier technologies, with a focus on how they're being deployed in the real world and the gaps and tensions that emerge as people, companies, and regulators respond. His coverage has featured autonomous vehicles, EVs, robotics, brain-computer interfaces, and AI.Lloyd's reporting on the progress of Alphabet's Waymo and Tesla's autonomous ambitions was recognized by the San Francisco Press Club with a Bay Area Journalism Award.Before joining Business Insider, he was a local reporter for Almanac News and Palo Alto Weekly, covering housing issues, small businesses, and notable Silicon Valley characters.Lloyd is based in San Francisco.He can be reached via email [email protected], or by phone at 646-768-1630, or Signal at lloyd.71.

Mattel (MAT.O) said on Wednesday longtime CEO Ynon Kreiz ​would leave the toymaker for a senior ‌leadership position at another public company and hand the reins to board member Roger Lynch.

Kreiz, who has been ​CEO since 2018, led Mattel's push to ​diversify beyond its traditional toy business into ⁠entertainment and digital gaming, while recently drawing scrutiny ​from investors including Southeastern Asset Management.

Shares of the ​Barbie doll and Hot Wheels maker were down about 3% in premarket trading.

The leadership change comes after investor ​Southeastern Asset Management's call for Mattel to explore ​strategic options, including being taken private or bought out by ‌rival ⁠Hasbro (HAS.O) earlier this year.

Lynch, who has served on Mattel's board since 2018, is currently the CEO of New Yorker-owner Condé Nast. He is ​expected to assume ​the top ⁠job by November 2 this year.

Kreiz did not immediately respond to ​a Reuters request for comment on his ​next ⁠role.

Mattel topped analysts' estimates for second-quarter revenue and reaffirmed its annual forecasts last month, but tariff-related costs ⁠and ​investments to boost sales caused ​profit to fall short of expectations.

Insurance brokers collect commissions whether rates rise or fall, but three companies have quietly turned that boring renewal cycle into something that looks a lot like a compounding machine. The question is whether falling property premiums finally break the streak.

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An insurance broker is a middleman with a plain job. It places a company’s coverage with an insurer, collects a commission or fee for the work, and leaves the risk itself on the insurer’s balance sheet. Businesses renew that coverage every year because lenders, landlords, and state laws require it, so broker revenue follows premium levels and client counts. The steadiest part of the model is retention.

On its second-quarter call, Arthur J. Gallagher (NYSE:AJG | AJG Price Prediction) attributed only about one point of its 6% organic growth to insurance rates. New business and client retention supplied the rest. Here are three brokers built on that model.

Brown & Brown: Steady Renewals, Slower Growth, Cheaper Shares Brown & Brown (NYSE:BRO), based in Daytona Beach, Florida, sells commercial insurance, employee benefits, and personal coverage through a retail segment, and runs a specialty distribution segment built around insurance programs and wholesale placements. Full-year 2025 revenue was $5.902B. The recent Accession acquisition made the company significantly larger, contributing approximately $410 million of revenue in the second quarter alone.

Its dividend record offers a clean look at behavior under stress. With the November 2008 ex-dividend date, in the depths of the downturn, the quarterly payout rose to $0.075 from $0.07, and it moved up again to $0.0775 in November 2009. In the pandemic year, the payout rose to $0.0925 from $0.085 at the November 2020 ex-date. The recent record shows annual increases from $0.085 in 2020 to $0.165 in 2026. The current quarterly dividend is $0.165, up from $0.15, or $0.66 annualized against a share price near $60.12. The yield is modest. The payout’s real value is as a record of discipline through two downturns.

Margins show the business holding its economics in a competitive market. The first-quarter adjusted EBITDAC margin was 38.5%, up from 38.1%. The second quarter was softer, with the adjusted EBITDA margin at 35.7%, down 100 basis points, as lower organic growth and investment in European capabilities weighed on specialty distribution. The shares are down 24% year to date and 35.27% over one year, though up 247.47% over ten years. The stock trades at about 13 times forward earnings.

The main risk is growth. Organic revenue was flat at 0.0% in the first quarter and decreased 70 basis points in the second while management combines two large organizations. The company’s chief executive said on the July 28 call, “While the organic growth for retail is improving, it’s not where we want it to be yet.” Total debt stands near $7.82B, with a $400 million maturity due in December.

Arthur J. Gallagher: A Dividend That Has Risen Every Year Since 2011 Gallagher, headquartered in Rolling Meadows, Illinois, runs two businesses. Brokerage places property, casualty, and benefits coverage for clients and generated $3.502B of second-quarter revenue. Risk management, grounded by the Gallagher Bassett claims operation, handles claims on behalf of clients and brought in $453M, with organic fee growth of 12%. The company employs 72,373 people.

In the years after the meltdown, the quarterly dividend held at $0.32 in both 2009 and 2010. From 2011 through 2026, the quarterly rate rose in every calendar year, most recently to $0.70 from $0.65 with the dividend declared January 28, 2026. That works out to $2.80 annualized, again a small yield on a stock priced near $226.91.

The current property slump is a live stress test. Second-quarter property renewal premiums fell 10%, while renewal premiums excluding property rose 3%, and clients used property savings to buy back coverage and raise limits. The chief executive framed it on the July 30 call: “Every other past soft market, the market has dropped like a brick across every line all at once. This is a property reset.” Gallagher reported 25 consecutive quarters of double-digit adjusted EBITDA growth. Risk management’s adjusted EBITDAC margin expanded to 22.3% from 20.9%, and underlying brokerage margin expanded 50 basis points. The shares are down 11.52% year to date but up 421.28% over ten years, and trade around 16 times forward earnings.

The main risk is integration. AssuredPartners, a $14B deal that closed in August 2025, is the largest acquisition in company history, and total borrowings reached $13.6B. Second-quarter net income fell 11.43% to $324M on $301M of intangible amortization tied to the deal, and contingent revenues declined 8% organically.

Marsh McLennan: Advice Keeps Selling When Insurance Prices Fall Marsh McLennan (NYSE:MMC) is the largest of the three by revenue. Marsh brokers commercial insurance. Guy Carpenter brokers reinsurance, the coverage insurers buy for themselves. Mercer advises employers on health benefits, retirement, and investments, and Marsh Management Consulting sells strategy work. Second-quarter revenue was $7.404B, split between Risk & Insurance Services at $4.823B and Consulting at $2.602B.

The company is currently operating through a clear pricing downturn. Primary commercial insurance rates fell 6% globally in the second quarter after a 5% decline in the first, and global property rates dropped 12%. Over the same stretch, underlying revenue growth sped up to 5% from 4%. Guy Carpenter’s client retention stayed in the high 90s, and Mercer’s assets under management reached $846 billion. Adjusted EPS was $2.96, up 9%.

Margins have held close to steady. The second-quarter adjusted operating margin was 29.3%, compared with 29.5% a year earlier, and 30.5% for the first six months. The company repurchased $1.5 billion of stock in the first half, retiring 8.7M shares, and now expects to deploy approximately $5.5 billion of capital in 2026 across dividends, acquisitions, and buybacks, up from a prior estimate of $5 billion.

The main risk sits in reinsurance. Property makes up 50% of Guy Carpenter’s global portfolio, and the property catastrophe rate-on-line index declined 16% at mid-year, which management called the steepest year-over-year decline since the index was created 25 years ago. Guy Carpenter revenue slid 2%. A $425M Greensill litigation charge also weighed on first-half GAAP results.

Why These Three Belong in a Durable Core All three have spent the past year showing what falling insurance prices do to a broker: growth slows, margins dip a little, and renewals keep coming. Two of the stocks have repriced sharply over that stretch, while the businesses underlying continue to place coverage, collect fees, and return cash to shareholders. For a reader building a core holding, the things to watch are organic growth, integration progress, and how long the property reset lasts.

Contact [email protected] for any questions or corrections.

Acquisition adds a differentiated, asset-light RV travel subscription platform in a complementary travel category

, /PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, today announced it has entered into an agreement to acquire Harvest Hosts, a community-oriented RV travel membership company, extending Choice Hotels' long-standing focus on serving value-conscious travelers into the outdoor travel market. Choice Hotels is acquiring 100% of Harvest Hosts from Stripes, a New York-based growth equity firm and other shareholders.

Harvest Hosts connects RV travelers with unique overnight experiences at more than 11,200 host locations, including wineries, farms, breweries, museums and other attractions. It provides members with an accessible way to discover distinctive destinations while supporting local businesses.

Many travelers already enjoy both hotel and RV travel, and Choice Privileges members are particularly active in both. Research shows that Choice Privileges members over-index among RV travelers, creating a natural opportunity to connect Choice's large and growing loyal traveler base with Harvest Hosts' distinctive network of RV experiences. By bringing together Choice's scale, commercial capabilities and loyalty reach with Harvest Hosts' unique offerings, Choice sees an opportunity to deepen engagement with existing members, introduce more travelers to Harvest Hosts and support the continued growth of both businesses.

"Choice Hotels has a long history of delivering quality travel experiences for value-minded consumers, and our acquisition of Harvest Hosts extends that reach into an attractive segment of the outdoor travel market. Together we offer even more stay options for both of our companies' guests," said Dom Dragisich, President and CEO of Choice Hotels International.

He continued, "Harvest Hosts has built a passionate, loyal membership community by partnering with local businesses to offer the accessible, distinctive experiences today's RVers are looking for. And they have done it through an asset-light model that complements our broader portfolio strategy. I'm excited to welcome the Harvest Hosts team to the Choice Hotels family."

Harvest Hosts will continue to operate as a standalone business under its existing brand, preserving its distinct member and host experience and the relationships that have built its community. Choice Hotels and Harvest Hosts will continue to enhance and grow the business. The acquisition is complementary to Choice's existing hotel portfolio and consistent with its long-term asset light strategy.

"The heart and soul of Harvest Hosts is the unique connections we have built between our members, hosts and employees," said Joel Holland, Owner and CEO of Harvest Hosts. "We share a love of the open road and the communities that make every journey memorable. Joining forces with Choice Hotels gives us an incredible opportunity to bring that experience to more people and accelerate our mission of creating millions of happier campers and communities." 

Stripes invested in Harvest Hosts in 2021, partnering with Joel Holland and the management team to help scale the company's differentiated membership experience and expand its reach across the RV community.

"At Stripes, we believe the best businesses start with amazing products that customers genuinely love, and Harvest Hosts is a great example of that. Joel and the team have built a differentiated experience that makes RV travel more memorable, accessible and rewarding, while creating real value for thousands of local businesses across the country. We've been proud to partner with the team as they've scaled that experience and built an incredibly passionate community, and we believe Choice is an exceptional home for Harvest Hosts as it enters its next chapter of growth," said Chris Carey, Partner at Stripes

Transaction Details

Choice Hotels is acquiring 100% of Harvest Hosts from Stripes and other shareholders in an all-cash transaction at an enterprise value of approximately $130 million. The transaction will be funded with cash on hand and borrowings under Choice Hotels' existing revolving credit facility.

The transaction is not expected to have a material impact on Choice Hotels' 2026 financial results. The acquisition does not change Choice's previously communicated 2026 share repurchase expectations.

Joel Holland will continue to lead Harvest Hosts as CEO, alongside the company's existing leadership team. The full Harvest Hosts team will become Choice Hotels employees upon close.

The transaction is expected to close on October 1, 2026, subject to customary closing conditions.

Jefferies LLC is serving as exclusive financial advisor to Harvest Hosts, and Weil, Gotshal & Manges LLP is serving as legal counsel. Choice Hotels International, Inc. was advised by ArentFox Schiff LLP.

About Choice Hotels

Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world, with over 7,500 hotels, representing more than 650,000 rooms, in 49 countries and territories. A wide-ranging portfolio of 22 brands that includes full-service upper upscale, midscale, extended stay, and economy properties enables Choice® to meet travelers' needs in more places and for more occasions while driving more value for franchise owners and shareholders. The award-winning Choice Privileges® rewards program and co-brand credit card options provide members with a fast and easy way to earn reward nights and personalized perks. For more information, visit www.choicehotels.com.

About Harvest Hosts

Harvest Hosts is the largest private RV camping network in North America. For an annual membership fee, RVers can stay overnight at thousands of wineries, breweries, farms, golf courses, museums and other small businesses with no nightly camping fees. Harvest Hosts also operates a family of companies that makes road travel easier: Escapees RV Club, one of the oldest RV organizations, offering community events, education, discounts and more; Boondockers Welcome, a community of RVers who host fellow travelers on their property for free; CampScanner, an alert service for booking sold-out campgrounds; and Brit Stops, a membership connecting motorhome travelers in the UK and Ireland with small businesses for overnight stays. The company's mission is to advance the technology and accessibility of RV travel while supporting national parks, small businesses and the communities travelers pass through. To learn more, visit www.harvesthosts.com.

Forward-Looking Statements

Certain matters discussed in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Certain, but not necessarily all, forward-looking statements can be identified by the use of forward-looking terminology, such as "expect," "estimate," "believe," "anticipate," "should," "will," "forecast," "plan," "project," "assume," or similar words of futurity. All statements other than statements of historical fact are forward-looking statements.

These forward-looking statements are based on management's current beliefs, assumptions and expectations regarding future events and include, but are not limited to, statements regarding the proposed acquisition of Harvest Hosts, the expected timing and completion of the transaction, the anticipated benefits of the transaction, Harvest Hosts' operations following the transaction and the expected impact of the transaction on Choice Hotels' business, strategy, financial condition and results of operations.

Forward-looking statements do not guarantee future performance and involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed in or contemplated by such statements. Such risks include, but are not limited to, risks related to satisfying closing conditions, obtaining any required regulatory approvals and realizing anticipated benefits, as well as risks associated with general economic conditions, consumer demand for travel, the travel and hospitality industries, acquired businesses, cybersecurity and data privacy, changes in applicable laws and regulations and other risks described in Choice Hotels' filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.

Choice Hotels cautions readers not to place undue reliance on forward-looking statements. Choice Hotels undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Choice Hotels International, Inc.

Strong commercial execution and AI momentum drive organic ASV growth of 7.0%

NORWALK, Conn., Sept. 30, 2026 (GLOBE NEWSWIRE) -- FactSet (NYSE: FDS) (NASDAQ: FDS), a leading global intelligence and AI solutions provider to the financial markets, today announced results for its fourth quarter and fiscal 2026 ended August 31, 2026.

 Q4 and Fiscal 2026 Highlights Robust growth: Q4 GAAP revenues grew 6.3% year over year to $634.7 million, with organic revenues up 7.1%. Organic ASV increased by $168.2 million year over year to $2,568.2 million, up 7.0%.Commercial excellence: Enterprise relationships deepened. Annual ASV retention remained above 95%. During Q4, average renewal contract length increased by ~30%.AI momentum: AI solutions ASV added in fiscal 2026 more than doubled year over year.Capital returns: FactSet returned more than $179 million to shareholders in Q4, including $138 million in share repurchases and more than $41 million in dividends. During fiscal 2026, FactSet returned $808 million to shareholders and achieved its twenty-seventh consecutive year of dividend increases. "FactSet delivered strong results, highlighted by a record increase in organic ASV for both the fourth quarter and fiscal year with continued momentum across our AI and data solutions. During the year, we accelerated innovation, strengthened commercial execution, and improved productivity across the organization.

"As demand for trusted financial intelligence continues to grow, FactSet's high-quality data, embedded workflows, service excellence, and deep client relationships position us to drive sustainable growth and long-term shareholder value."

- Sanoke Viswanathan, CEO

Key Financial Measures*

(Condensed and Unaudited)Three Months Ended  Twelve Months Ended LatestAugust 31,  August 31, FY2026(Results in thousands, except per share data) 2026  2025 Change  2026  2025 ChangeGuidanceRevenues$634,698 $596,901 6.3 % $2,476,256 $2,321,748 6.7 %$2,450 - $2,470MOrganic revenues$635,543 $593,503 7.1 % $2,464,614 $2,309,287 6.7 % Operating income$156,624 $177,321 (11.7)% $699,957 $748,303 (6.5)% Adjusted operating income$209,393 $201,701 3.8 % $855,308 $843,432 1.4 % Operating margin 24.7% 29.7%   28.3% 32.2% 29.5% - 31.0%Adjusted operating margin 33.0% 33.8%   34.5% 36.3% 34.0% - 35.5%Net income$121,127 $153,616 (21.1)% $533,481 $597,040 (10.6)% Adjusted net income$160,887 $154,590 4.1 % $659,498 $651,617 1.2 % Adjusted EBITDA$209,212 $244,555 (14.5)% $911,407 $934,973 (2.5)% Diluted EPS$3.41 $4.03 (15.4)% $14.57 $15.55 (6.3)%$14.85 - $15.35Adjusted diluted EPS$4.52 $4.05 11.6 % $18.01 $16.98 6.1 %$17.25 - $17.75 * See reconciliation of U.S. GAAP to adjusted key financial measures in the back of this press release.

Fourth Quarter Fiscal 2026 Highlights

GAAP revenues increased 6.3% or $37.8 million to $634.7 million compared with $596.9 million in the prior year period.Organic revenues grew 7.1% year over year to $635.5 million.Annual Subscription Value ("ASV") was $2,565.2 million at August 31, 2026.Organic ASV was $2,568.2 million at August 31, 2026, up 7.0% or $168.2 million year over year.GAAP operating margin was 24.7% compared with 29.7% in the prior year period, primarily due to higher employee compensation costs, mainly driven by one-time restructuring charges and ASV-linked incentive plans, partially offset by an increase in revenues.Adjusted operating margin, which excludes acquisition-related intangible asset amortization and non-recurring items, was 33.0% compared with 33.8% in the prior year period, mainly due to higher compensation expense from ASV-linked incentive plans and technology-related expenses.GAAP diluted EPS was $3.41 compared with $4.03 for the same period in fiscal 2025, mainly driven by higher operating expenses, including non-recurring items, and a gain on the divestiture of a business in the prior year, partially offset by growth in revenues and a lower share count.Adjusted diluted EPS increased 11.6% to $4.52 compared with $4.05 in the prior year period, driven by growth in revenues and a lower share count.Net cash provided by operating activities was $204.7 million for the fourth quarter of fiscal 2026, a decrease of 3.5% compared with the prior year period.Free cash flow was $177.3 million for the fourth quarter of fiscal 2026, a decrease of 0.5% compared with the prior year period.GAAP effective tax rate decreased to 16.1% compared with 18.7% for the prior year period primarily due to the favorable resolution of uncertain tax positions in the U.S.
Full Year Fiscal 2026 Highlights

GAAP revenues increased 6.7% or $154.5 million to $2.48 billion. This result continues FactSet's track record of 47 consecutive years of increased revenues for the Company.GAAP operating margin was 28.3% compared with 32.2% for the prior year, primarily due to higher employee compensation costs, mainly driven by one-time restructuring charges, ASV-linked incentive plans and one-time CEO compensation costs, partially offset by growth in revenues.Adjusted operating margin was 34.5% compared with 36.3% in the prior year, mainly due to higher compensation expense from ASV-linked incentive plans and technology expenses.GAAP diluted EPS was $14.57 compared with $15.55 in the prior year period, mainly driven by higher operating expenses, including non-recurring items, partially offset by growth in revenues and a lower share count.Adjusted diluted EPS increased 6.1% to $18.01, primarily driven by growth in revenues and a lower share count. Fiscal 2026 marks the 30th consecutive year that FactSet has increased its adjusted diluted EPS.Net cash provided by operating activities was $822.2 million for fiscal 2026, an increase of 13.2% compared with the prior year period.Free cash flow was $707.5 million for fiscal 2026, an increase of 14.6% compared with the prior year period.GAAP effective tax rate increased to 17.9% compared with 17.2% for the prior year period primarily due to a stock-based compensation tax shortfall and the limitation on the deductibility of executive compensation, partially offset by the favorable resolution of uncertain tax positions in the U.S. Annual Subscription Value (ASV)

ASV at any given point in time represents the forward-looking revenues for the next 12 months from all subscription services currently supplied to clients. Organic ASV at any point in time equals our ASV excluding ASV from acquisitions and the comparable impact of dispositions and discontinued lines of business effected within the last 12 months and the impact of foreign currency movements.

ASV was $2,565.2 million at August 31, 2026, compared with $2,405.6 million at August 31, 2025. Organic ASV was $2,568.2 million at August 31, 2026, up $168.2 million from the prior year, for a growth rate of 7.0%.

Segment Revenues and ASV

(Results in millions)Aug. 31, 2026
ASVAug. 31, 2025
ASVAug. 31, 2026 Organic ASVOrganic ASV
GrowthQ4 FY26 RevenuesQ4 FY25
RevenuesOrganic Revenues GrowthAmericas$1,678.2$1,570.1$1,678.27.1%$414.3$388.76.7%EMEA$620.9$591.6$623.65.2%$154.8$147.46.6%APAC$266.1$243.9$266.410.6%$65.6$60.811.0%
Share Repurchase Program

FactSet repurchased 552,064 shares of its common stock for $138.0 million at an average price of $249.90 during the fourth quarter of fiscal 2026 under the Company’s share repurchase program. As of August 31, 2026, $356.0 million remained available for share repurchases under this program.

Annual Business Outlook

Fiscal 2027 Expectations:

Metric GuidanceOrganic ASV Growth5.0% – 6.5%Revenues$2,600 – $2,625 million GAAPAdjustedOperating Margin31.0% – 32.0%34.75% – 35.25%Diluted EPS$17.00 – $17.50$19.25 – $19.65
Adjusted operating margin and adjusted diluted EPS guidance do not include certain effects of any non-recurring benefits or charges that may arise in fiscal 2027. Please see the back of this press release for a reconciliation of GAAP to adjusted metrics.

Conference Call

Fourth Quarter 2026 Conference Call Details

Date:Wednesday, September 30, 2026Time:   9:00 a.m. Eastern TimeParticipant Registration: FactSet Q4 2026 Earnings Call Registration
Please register for the conference call using the above link in advance of the call start time. Upon registration, you will receive dial-in information and a unique access PIN. The earnings presentation will be available on FactSet’s Investor Relations website at 8:30 a.m. Eastern Time on September 30, 2026, 30 minutes before the earnings call begins.

A replay will be available on the Investor Relations website after 1:00 p.m. Eastern Time on September 30, 2026, and will remain accessible through September 30, 2027. A transcript of the earnings call will be available via FactSet CallStreet.

Forward-looking Statements

This press release contains forward-looking statements based on management's current expectations, estimates, forecasts and projections about future events, trends, contingencies, and circumstances, industries in which FactSet operates and the beliefs and assumptions of management. All statements that address expectations, guidance, outlook or projections about the future, including statements about the Company's strategy, product development, revenues, future financial results, anticipated growth, market position, subscriptions, expected expenditures or investments, trends in FactSet’s business and financial results, are forward-looking statements. Forward-looking statements may be identified by words like "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "intends," "projects," "indicates," "predicts," "potential," or "continue," the negative of those terms, and similar expressions. Forward-looking statements are not guarantees of future performance, outcomes, events, or actions and involve a number of known and unknown risks, uncertainties, and assumptions. Many factors, including those discussed more fully elsewhere in this release and in FactSet's filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, including Item 1A, Risk Factors, and quarterly reports on Form 10-Q, as well as others, could cause results, performance, achievements, or activities to differ materially from those expressed or implied by the forward-looking statements. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. FactSet assumes no duty to and does not undertake to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Future results could differ materially from historical performance.

About Non-GAAP Financial Measures

The Company reports its financial results in accordance with U.S. GAAP. The Company also refers to and presents certain additional non-GAAP financial measures. These measures include: organic revenues, adjusted operating margin, adjusted operating income, adjusted net income, EBITDA, adjusted EBITDA, adjusted diluted EPS, and free cash flow. The Company has included reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP at the back of this release.

FactSet uses these non-GAAP financial measures both in presenting its results to stockholders and the investment community and in its internal evaluation and management of the business. The Company believes that these non-GAAP financial measures provide useful supplemental information to investors because they permit investors to view the Company’s performance using the same tools that management uses to gauge progress in achieving its goals. Investors may benefit from referring to these non-GAAP financial measures in assessing the Company’s performance and when planning, forecasting and analyzing future periods, and such measures may also facilitate comparisons to historical performance. The Company believes that organic revenues, adjusted operating margin, adjusted operating income, adjusted net income, EBITDA, adjusted EBITDA, and adjusted diluted EPS help to fully reflect the underlying economic performance of FactSet. The Company believes that free cash flow is useful to investors because it is an indication of cash flow that may be available to pay debt obligations, make strategic acquisitions and investments, pay dividends, repurchase stock, and strengthen the balance sheet. The presentation of this non-GAAP financial information should not be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with GAAP. We are not able to provide reconciliations of certain forward-looking non-GAAP financial measures to comparable GAAP measures because certain items required for such reconciliations are outside of our control and/or cannot be reasonably predicted without unreasonable effort.

About FactSet

FactSet (NYSE: FDS | NASDAQ: FDS) supercharges financial intelligence, offering enterprise data and information solutions that help our clients maximize their potential. Our digital platform seamlessly integrates proprietary data, third-party sources, and flexible technology to deliver tailored solutions across the buy side, sell side, wealth, and corporate sectors. With over 48 years of expertise, we leverage advanced data connectivity, AI, and next-generation tools to streamline workflows and enable smarter decision-making. As an S&P 500 company serving more than 9,200 global clients and over 260,000 individual users, we are dedicated to innovation and long-term client success. Learn more at www.factset.com and follow us on X and LinkedIn.

Investor Relations:                         
Kevin Toomey
+1.212.209.5259
[email protected]

Media Relations:
Adam Dalezman
+1.203.810.1035
[email protected]

Consolidated Statements of Income(Unaudited)      Three Months Ended Twelve Months Ended August 31, August 31,(In thousands, except per share data) 2026  2025   2026   2025 Revenues$634,698 $596,901  $2,476,256  $2,321,748 Operating expenses      Cost of services 326,298  288,670   1,223,146   1,097,782 Selling, general and administrative 151,776  130,910   553,153   475,663 Total operating expenses 478,074  419,580   1,776,299   1,573,445        Operating income 156,624  177,321   699,957   748,303        Other income (expense), net      Interest income 1,442  2,050   4,064   6,533 Interest expense (14,398) (12,886)  (54,684)  (56,324)Other income (expense), net 703  22,466   379   22,446 Total other income (expense), net (12,253) 11,630   (50,241)  (27,345)       Income before income taxes 144,371  188,951   649,716   720,958        Provision for income taxes 23,244  35,335   116,235   123,918 Net income$121,127 $153,616  $533,481  $597,040        Basic earnings per common share$3.42 $4.07  $14.63  $15.74 Diluted earnings per common share$3.41 $4.03  $14.57  $15.55        Basic weighted average common shares 35,403  37,757   36,467   37,924 Diluted weighted average common shares 35,572  38,158   36,612   38,385 
Consolidated Balance Sheets(Unaudited)       (In thousands)August 31, 2026August 31, 2025ASSETS  Cash and cash equivalents$233,339$337,651Investments 31,993 17,445Accounts receivable, net of reserves of $13,584 at August 31, 2026 and $13,789 at August 31, 2025 301,439 270,684Prepaid taxes 11,406 33,600Prepaid expenses and other current assets 76,536 70,379Total current assets 654,713 729,759   Property, equipment and leasehold improvements, net 79,246 85,203Goodwill 1,283,025 1,284,708Intangible assets, net 1,849,510 1,916,102Deferred tax assets 74,550 61,226Lease right-of-use assets, net 113,275 121,776Other assets 88,524 105,498TOTAL ASSETS$4,142,843$4,304,272   LIABILITIES  Accounts payable and accrued expenses$136,104$135,262Current debt 499,436 —Current lease liabilities 34,253 33,145Accrued compensation 192,352 130,596Deferred revenues 184,264 167,852Current taxes payable 5,012 13,041Dividends payable 40,901 41,410Total current liabilities 1,092,322 521,306   Long-term debt 870,586 1,368,260Deferred tax liabilities 11,279 14,902Taxes payable 25,502 45,095Long-term lease liabilities 138,139 157,104Other liabilities 3,149 11,192TOTAL LIABILITIES$2,140,977$2,117,859   STOCKHOLDERS’ EQUITY  TOTAL STOCKHOLDERS’ EQUITY$2,001,866$2,186,413   TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$4,142,843$4,304,272 Certain prior year figures have been conformed to the current year's presentation.

Consolidated Statements of Cash Flows (Unaudited)  Twelve Months Ended August 31,(In thousands) 2026  2025 CASH FLOWS FROM OPERATING ACTIVITIES  Net income$533,481 $597,040 Adjustments to reconcile net income to net cash provided by operating activities  Depreciation and amortization 180,830  157,691 Amortization of lease right-of-use assets 32,268  30,982 Stock-based compensation expense 84,099  61,229 Deferred income taxes (14,284) (3,545)Gain on divestiture of a business —  (23,238)Other, net 17,415  11,867 Changes in assets and liabilities, net of effects of acquisitions  Accounts receivable (37,387) (42,540)Prepaid expenses and other assets (2,209) 65 Accounts payable and accrued expenses (4,405) (59,400)Accrued compensation 62,553  35,666 Deferred revenues 15,813  2,249 Taxes payable, net of prepaid taxes (5,079) (1,161)Lease liabilities, net (40,895) (40,645)Net cash provided by operating activities 822,200  726,260    CASH FLOWS FROM INVESTING ACTIVITIES  Purchases of property, equipment, leasehold improvements and capitalized internal-use software (114,720) (108,806)Acquisition of businesses, net of cash and cash equivalents acquired —  (348,255)Purchases of investments (53,834) (18,867)Proceeds from maturity or sale of investments 36,050  58,155 Proceeds from divestiture —  25,000 Net cash provided by (used in) investing activities (132,504) (392,773)   CASH FLOWS FROM FINANCING ACTIVITIES  Proceeds from debt 240,933  803,410 Repayments of debt (242,500) (805,000)Dividend payments (164,184) (159,973)Proceeds from employee stock plans 33,289  81,688 Repurchases of common stock (643,961) (300,457)Deferred acquisition consideration (15,327) (10,199)Other financing activities (7,697) (17,290)Net cash provided by (used in) financing activities (799,447) (407,821)   Effect of exchange rate changes on cash, cash equivalents and restricted cash (2,309) 3,050 Net increase (decrease) in cash, cash equivalents and restricted cash (112,060) (71,284)Cash, cash equivalents and restricted cash at beginning of period 351,695  422,979 Cash, cash equivalents and restricted cash at end of period$239,635 $351,695    Reconciliation of total cash, cash equivalents and restricted cash:  Cash and cash equivalents$233,339 $337,651 Restricted cash included in Prepaid expenses and other current assets 6,296  6,522 Restricted cash included in Other assets —  7,522 Total cash, cash equivalents and restricted cash$239,635 $351,695  Certain prior year figures have been conformed to the current year's presentation.

Reconciliation of U.S. GAAP Results to Adjusted Financial Measures

Organic Revenues

Organic revenues exclude the current year impact of revenues from acquisitions and the comparable impact of dispositions and discontinued lines of business, effected within the past 12 months and the current year impact of foreign currency movements. The table below provides a reconciliation of revenues to organic revenues:

(Unaudited)Three Months Ended  Twelve Months Ended  August 31,  August 31, (In thousands) 2026 2025 Change  2026  2025 ChangeRevenues$634,698$596,901 6.3% $2,476,256 $2,321,748 6.7%Acquisition revenues — —    (10,066) —  Disposition revenues — (3,398)   —  (12,461) Currency impact 845 —    (1,576) —  Organic revenues$635,543$593,503 7.1% $2,464,614 $2,309,287 6.7%
Non-GAAP Financial Measures

The table below provides a reconciliation of operating income, operating margin, net income and diluted EPS to adjusted operating income, adjusted operating margin, adjusted net income, EBITDA, adjusted EBITDA, and adjusted diluted EPS.

Adjusted operating income and margin, adjusted net income, and adjusted diluted earnings per share exclude acquisition-related intangible asset amortization and non-recurring items. EBITDA represents earnings before interest expense, provision for income taxes and depreciation and amortization expense, while adjusted EBITDA further excludes non-recurring non-cash expenses.

 Three Months Ended  Twelve Months Ended  August 31,  August 31, (in thousands, except per share data) 2026  2025 % Change  2026  2025 % ChangeOperating income$156,624 $177,321 (11.7)% $699,957 $748,303 (6.5)%Intangible asset amortization 18,875  19,136    76,205  73,036  Restructuring/severance 26,899  576    46,200  259  CEO onboarding costs(1) 4,565  1,675    19,521  1,675  Business disposition, acquisitions and related costs 1,780  2,993    8,255  17,761  India labor codes reform —  —    2,883  —  Asset impairment —  —    887  —  Client bankruptcy charges —  —    750  —  Litigation reserve 650  —    650  —  Sales tax dispute(2) —  —    —  2,398  Adjusted operating income$209,393 $201,701 3.8% $855,308 $843,432 1.4%Operating margin 24.7% 29.7%   28.3% 32.2% Adjusted operating margin(3) 33.0% 33.8%   34.5% 36.3% Net income$121,127 $153,616 (21.1)% $533,481 $597,040 (10.6)%Intangible asset amortization 14,142  16,301    58,762  54,074  Restructuring/severance 20,154  491    35,625  192  CEO onboarding costs(1) 3,420  1,427    15,053  1,240  Impairment within Other assets(4) —  —    12,338  —  Business disposition, acquisitions and related costs 1,334  2,550    6,365  13,150  India labor codes reform —  —    2,223  —  Asset impairment —  —    684  —  Client bankruptcy charges —  —    578  —  Litigation reserve 487  —    501  —  Sales tax dispute(2) —  —    —  1,775  Gain on business divestiture —  (19,795)   —  (17,205) Gain on sale of investments —  —    (5,015) —  Non-operating income from business disposition (136) —    (604) —  Income tax items 359  —    (493) 1,351  Adjusted net income(5)$160,887 $154,590 4.1% $659,498 $651,617 1.2%Net income$121,127 $153,616 (21.1)% $533,481 $597,040 (10.6)%Interest expense 14,398  12,886    54,684  56,324  Income taxes 23,244  35,335    116,235  123,918  Depreciation and amortization expense 47,123  42,718    180,830  157,691  EBITDA$205,892 $244,555 (15.8)% $885,230 $934,973 (5.3)%Non-recurring non-cash expenses(6) 3,320  —    26,177  —  Adjusted EBITDA$209,212 $244,555 (14.5)% $911,407 $934,973 (2.5)%Diluted EPS$3.41 $4.03 (15.4)% $14.57 $15.55 (6.3)%Intangible asset amortization 0.40  0.43    1.60  1.41  Restructuring/severance 0.57  0.01    0.97  0.01  CEO onboarding costs(1) 0.09  0.03    0.41  0.03  Impairment within Other assets(4) —  —    0.34  —  Business disposition, acquisitions and related costs 0.04  0.07    0.18  0.34  India labor codes reform —  —    0.06  —  Asset impairment —  —    0.02  —  Client bankruptcy charges —  —    0.02  —  Litigation reserve 0.01  —    0.01  —  Sales tax dispute(2) —  —    —  0.05  Gain on business divestiture —  (0.52)   —  (0.45) Gain on sale of investments —  —    (0.14) —  Non-operating income from business disposition (0.01) —    (0.02) —  Income tax items 0.01  —    (0.01) 0.04  Adjusted diluted EPS(5)$4.52 $4.05 11.6% $18.01 $16.98 6.1%Weighted average common shares (diluted) 35,572  38,158    36,612  38,385   (1)For fiscal 2026, these costs are related to the recognition, over their respective service periods, of one-time make-whole cash and equity awards issued to our CEO.(2)Related to a resolved matter with the Massachusetts Department of Revenue.(3)Adjusted operating margin is calculated as Adjusted operating income divided by Revenues.(4)Related to the impairment of an equity investment.(5)For purposes of calculating Adjusted net income and Adjusted diluted EPS, all adjustments for the three months ended August 31, 2026 and August 31, 2025, were taxed at an adjusted tax rate of 25.1% and 14.8%, respectively. The twelve months ended August 31, 2026 and August 31, 2025, were taxed at an adjusted tax rate of 22.9% and 26.0%, respectively.(6)Primarily related to the impairment of an equity investment and the recognition, over their respective service periods, of one-time equity awards issued to our CEO.
Business Outlook Reconciliation

(Unaudited) Figures may not foot due to roundingAnnual Fiscal 2027 Guidance(In millions, except per share data) Revenues$2,600 - $2,625Operating income$806 - $840Operating margin31.0% - 32.0%Amortization of intangible assets and other discrete items$85 - $97Adjusted operating income$903 - $925Adjusted operating margin(a)34.75% - 35.25%Diluted earnings per share per common share$17.00 - $17.50Amortization of intangible assets and other discrete items$2.15 - $2.25Adjusted diluted earnings per common share$19.25 - $19.65 (a)   Adjusted operating margin is calculated as Adjusted operating income divided by Revenues.

Free Cash Flow

Cash flows provided by operating activities have been reduced by purchases of property, equipment, leasehold improvements and capitalized internal-use software to report non-GAAP free cash flow.

(Unaudited)Three Months Ended  Twelve Months Ended  August 31,  August 31, (In thousands) 2026  2025 Change  2026  2025 ChangeNet Cash Provided for Operating Activities$204,708 $212,100 (3.5)% $822,200 $726,260 13.2%Less: purchases of property, equipment, leasehold improvements and capitalized internal-use software (27,401) (33,966)(19.3)%  (114,720) (108,806)5.4%Free Cash Flow$177,307 $178,134 (0.5)% $707,480 $617,454 14.6%
Organic ASV

The following table presents the calculation of organic ASV.

(In millions)As of August 31, 2026As reported ASV$2,565.2 Impact from foreign currency movements 3.0 Organic ASV$2,568.2 Organic ASV annual growth rate(a) 7.0% (a)For comparability purposes, in calculating the organic ASV annual growth rate, the prior year excludes ASV from dispositions and discontinued lines of business effected within the last 12 months.

Multi-center Prospective Study to Track Real-World Safety, Clinical Effectiveness, and Healthcare Resource Impact of MYQORZO in Routine Clinical Practice

SOUTH SAN FRANCISCO, Calif., Sept. 30, 2026 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced the start of ASPEN-HCM (Aficamten Study of Patient Experience and Novel Outcomes in Symptomatic Obstructive HCM), a prospective, multicenter, observational real-world study evaluating MYQORZO® (aficamten) in adult patients with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). MYQORZO is a once-daily, oral allosteric and reversible inhibitor of cardiac myosin motor activity. In patients with oHCM, myosin inhibition with MYQORZO reduces cardiac contractility and left ventricular outflow tract (LVOT) obstruction.

“We are pleased to announce the start of ASPEN-HCM, marking an important next step in our ongoing commitment to hypertrophic cardiomyopathy research,” said Sanatan Shreay, Ph.D., Cytokinetics’ Executive Director, Head of Health Economics and Outcomes Research. “The clinical trials we conducted of MYQORZO provided strong evidence supporting its approval. Now, this study will build on that foundation by generating valuable real-world insights that can help inform clinical decision-making and support clinicians in their everyday practices.”

Led by the University of California, San Francisco (UCSF), ASPEN-HCM will evaluate the safety and effectiveness of MYQORZO in routine clinical practice to generate prospective, real-world evidence on the clinical and economic impact of treatment.

“With our deep commitment to driving innovation in cardiology, this important study is designed to provide critical insights about the impact of the latest non-invasive treatment in HCM, the most common inherited heart disease,” said Theodore Abraham, M.D., co-director, UCSF HCM Center of Excellence.

ASPEN-HCM: Study Design

This prospective, multicenter, observational real-world study is designed to evaluate the clinical, economic, and patient impact of MYQORZO in adult patients with oHCM across 13 cardiology practices and HCM centers of excellence. Over an anticipated 12-to-36-month period, the study aims to enroll approximately 400 patients to characterize the real-world safety profile of MYQORZO.

The study will evaluate real-world safety and effectiveness outcomes, including reductions in left ventricular ejection fraction (LVEF), treatment discontinuations, changes in in left ventricular outflow tract gradient (LVOT–G), New York Heart Association (NYHA) classification, and patient-reported outcomes.

Secondary study objectives focus on analyzing healthcare resource utilization, conducting pre-and-post economic analyses on hospitalization and procedure rates, and tracking cardiac structural remodeling using parameters like left ventricular mass index and septal thickness.

Additionally, the study will investigate longitudinal treatment patterns, dose titration pathways, the prevalence and incidence of atrial fibrillation, potential predictors of treatment response, and the clinical impact of MYQORZO on avoiding or delaying invasive septal reduction therapy.

To learn more about ASPEN-HCM, visit www.clinicaltrials.gov.

The full U.S. Prescribing Information for MYQORZO includes a Boxed WARNING for the risk of heart failure. MYQORZO reduces left ventricular ejection fraction (LVEF) and can cause heart failure due to systolic dysfunction. Echocardiogram assessments are required prior to and during treatment with MYQORZO to monitor for systolic dysfunction. Initiation of MYQORZO in patients LVEF <55% is not recommended. Decrease the dose of MYQORZO if LVEF <50% and ≥40%. Interrupt the dose of MYQORZO if LVEF <40% or if the patient experiences heart failure symptoms or worsening clinical status due to systolic dysfunction. Because of the risk of heart failure due to systolic dysfunction, MYQORZO is available only through a restricted program under a Risk Evaluation and Mitigation Strategy (REMS) called the MYQORZO REMS Program. Please see additional Important Safety Information including Boxed WARNING below.

About MYQORZO® (aficamten)

MYQORZO® (aficamten) is a cardiac myosin inhibitor approved in the U.S., China, European Union and United Kingdom for the treatment of symptomatic obstructive hypertrophic cardiomyopathy (oHCM). In patients with oHCM, myosin inhibition with MYQORZO reduces cardiac contractility and consequently, left ventricular outflow tract (LVOT) obstruction. MYQORZO was engineered to achieve a predictable exposure response, rapid onset of action and reversibility.3

Aficamten is also under clinical investigation in CEDAR-HCM in a pediatric population with oHCM. Safety and efficacy of aficamten have not been established in a pediatric patient population. In addition, aficamten is being studied in FOREST-HCM, an open-label extension clinical study.

INDICATION

MYQORZO is indicated for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy (oHCM) to improve functional capacity and symptoms.

IMPORTANT SAFETY INFORMATION

WARNING: RISK OF HEART FAILUREMYQORZO reduces left ventricular ejection fraction (LVEF) and can cause heart failure due to systolic dysfunction.

Echocardiogram assessments are required prior to and during treatment with MYQORZO to monitor for systolic dysfunction. Initiation of MYQORZO in patients with LVEF <55% is not recommended. Decrease the dose of MYQORZO if LVEF is <50% and ≥40%. Interrupt the dose of MYQORZO if LVEF <40% or if the patient experiences heart failure symptoms or worsening clinical status due to systolic dysfunction.

Because of the risk of heart failure due to systolic dysfunction, MYQORZO is available only through a restricted program under a Risk Evaluation and Mitigation Strategy (REMS) called the MYQORZO REMS Program.

CONTRAINDICATIONS

MYQORZO is contraindicated with concomitant use of rifampin.

WARNINGS AND PRECAUTIONS

Heart Failure

MYQORZO reduces cardiac contractility, which can reduce LVEF and cause heart failure.
Patients who experience a serious intercurrent illness (e.g., serious infection) or arrhythmia (e.g., new or uncontrolled atrial fibrillation) may be at greater risk of developing systolic dysfunction and heart failure.

Assess patients’ clinical status and LVEF prior to and during treatment and adjust the MYQORZO dose accordingly. New or worsening arrhythmia, dyspnea, chest pain, fatigue, leg edema, or elevations in N-terminal pro-B-type natriuretic peptide may be signs and symptoms of heart failure.

Initiation of MYQORZO in patients with LVEF <55% is not recommended.

MYQORZO REMS Program

MYQORZO is available only through a restricted program called the MYQORZO REMS Program, because of the risk of heart failure due to systolic dysfunction.

Notable requirements of the MYQORZO REMS Program include:

Prescribers must be certified by enrolling in the MYQORZO REMS ProgramPatients must enroll in the MYQORZO REMS Program and comply with ongoing monitoring requirementsPharmacies must be certified by enrolling in the MYQORZO REMS Program and must only dispense to patients who are authorized to receive MYQORZOWholesalers and distributors must only distribute to certified pharmacies Further information is available at www.MYQORZOREMS.com, or at 1-844-285-7367.

Cytochrome P450 Interactions Leading to Heart Failure or Loss of Effectiveness

MYQORZO is metabolized primarily by CYP2C9, and to a lesser extent by CYP3A, CYP2D6, and CYP2C19 enzymes. Initiation of medications that inhibit multiple P450 pathways of MYQORZO elimination (e.g., fluconazole, voriconazole, or fluvoxamine) or strong CYP2C9 inhibitors, and discontinuation of moderate-to-strong CYP3A inducers may lead to increased blood concentrations of aficamten and increase the risk of heart failure due to systolic dysfunction. Conversely, initiation of medications that induce P450 pathways of MYQORZO (e.g., rifampin, moderate-to-strong CYP3A inducers) may lead to decreased blood concentrations of aficamten and potential loss of effectiveness. Assess LVEF 2 to 8 weeks after initiation of such inhibitors or after discontinuation of such inducers and adjust the dose of MYQORZO accordingly.

Advise patients of the potential for drug interactions. Advise patients to inform their healthcare provider of all concomitant medications prior to and during MYQORZO treatment.

ADVERSE REACTIONS

Hypertension (8% vs 2%) was the only adverse reaction occurring in >5% of patients and more commonly on MYQORZO than on placebo in the pivotal trial.

INDICATIONS AND USAGE

MYQORZO is indicated for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy (oHCM) to improve functional capacity and symptoms.

Please see full Prescribing Information approved in the U.S., including Boxed WARNING.

Please see full Summary of Product Characteristics approved in the European Union.

About Hypertrophic Cardiomyopathy

Hypertrophic cardiomyopathy (HCM) is a disease in which the heart muscle becomes abnormally thick. HCM can be obstructive, when thickened muscle blocks blood flow, or non-obstructive, when blood flow is not blocked but heart function is still affected. In obstructive HCM, the thickening of cardiac muscle leads to the inside of the left ventricle becoming smaller, stiffer and less able to relax and fill with blood. Ultimately, HCM limits the heart’s pumping function, leading to reduced exercise capacity and a variety of symptoms.

HCM is the most common monogenic inherited cardiovascular disorder, affecting approximately one out of 350 individuals worldwide.1

Approximately half of patients with HCM have obstructive HCM (oHCM) and half have non-obstructive HCM (nHCM).2.

People with HCM are at high risk of also developing cardiovascular complications including atrial fibrillation, stroke and mitral valve disease.3 People with HCM are at risk for potentially fatal ventricular arrhythmias and it is one of the leading causes of sudden cardiac death in younger people or athletes.4 A subset of patients with HCM are at high risk of progressive disease leading to dilated cardiomyopathy and heart failure necessitating cardiac transplantation.

About Cytokinetics

Cytokinetics is a specialty cardiovascular biopharmaceutical company, building on its over 25 years of pioneering scientific innovations in muscle biology, and advancing a pipeline of potential new medicines for patients suffering from diseases of cardiac muscle dysfunction. Cytokinetics’ MYQORZO® (aficamten) is a cardiac myosin inhibitor approved in the approved in the U.S., China, European Union and United Kingdom for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). Following positive results in ACACIA-HCM, a Phase 3 clinical trial of aficamten in patients with non-obstructive HCM (nHCM), the company plans to submit a Supplemental New Drug Application in Q4 2026. Cytokinetics is also developing omecamtiv mecarbil, an investigational cardiac myosin activator for the potential treatment of patients with heart failure with severely reduced ejection fraction and ulacamten, an investigational cardiac myosin inhibitor for the potential treatment of heart failure with preserved ejection fraction, while continuing pre-clinical research and development in muscle biology.

For additional information about Cytokinetics, visit www.cytokinetics.com and follow us on X, LinkedIn, Facebook and YouTube.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the “Act”). Cytokinetics disclaims any intent or obligation to update these forward-looking statements and claims the protection of the Act’s Safe Harbor for forward-looking statements. Examples of such statements include, but are not limited to, statements relating to our ability to obtain regulatory approval for aficamten in nonobstructive hypertrophic cardiomyopathy in any jurisdiction by any particular date, if ever, the number of patients comprising the eligible treatment population for aficamten, or market acceptance of aficamten for the treatment of nonobstructive hypertrophic cardiomyopathy. Such statements are based on management’s current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to, potential difficulties or delays in the development, testing, regulatory approvals for trial commencement, progression or product sale or manufacturing of Cytokinetics’ drug candidates that could slow or prevent clinical development or product approval; Cytokinetics’ drug candidates may have adverse side effects or inadequate therapeutic efficacy; the FDA or foreign regulatory agencies may delay or limit Cytokinetics’ ability to conduct clinical trials; Cytokinetics may be unable to obtain or maintain patent or trade secret protection for its intellectual property; standards of care may change, rendering Cytokinetics’ drug candidates obsolete; and competitive products or alternative therapies may be developed by others for the treatment of indications Cytokinetics’ drug candidates and potential drug candidates may target. For further information regarding these and other risks related to Cytokinetics’ business, investors should consult Cytokinetics’ filings with the Securities and Exchange Commission.

CYTOKINETICS® and the CYTOKINETICS C-shaped logo are registered trademarks of Cytokinetics in the U.S. and certain other countries.

MYQORZO® is a registered trademark of Cytokinetics in the U.S., the European Union and the United Kingdom.

References

Tsenov et al. Healthcare access, symptom burden, and psychological impact in hypertrophic cardiomyopathy: a multinational patient-driven survey. Int J Cardiol Cardiovasc Risk Prev2025 Aug 4;27:200485. doi:10.1016/j.ijcrp.2025.200485.Butzner M, et al. Epidemiology of Hypertrophic Cardiomyopathy in the United States From 2016 to 2023. JACC Adv. 2026. 2026;5(2):102552. doi:10.1016/j.jacadv.2025.102552.Gersh, B.J., Maron, B.J., Bonow, R.O., Dearani, J.A., Fifer, M.A., Link, M.S., et al. 2011 ACCF/AHA guidelines for the diagnosis and treatment of hypertrophic cardiomyopathy. A report of the American College of Cardiology Foundation/American Heart Association Task Force on practice guidelines. Journal of the American College of Cardiology and Circulation, 58, e212-260.Hong Y, Su WW, Li X. Risk factors of sudden cardiac death in hypertrophic. Contact:
Cytokinetics
Diane Weiser
Senior Vice President, Corporate Affairs
(415) 290-7757

 | Source: Trump Media & Technology Group

Filing Advances Previously Announced All-Stock Combination to Support TAE’s Continued Development and Commercialization of Advanced Technologies

Combined Company Would Be One of the World’s First Publicly Traded Companies Developing Commercial Fusion Energy

SARASOTA, Fla. and FOOTHILL RANCH, Calif., Sept. 30, 2026 (GLOBE NEWSWIRE) -- Trump Media & Technology Group Corp. (“TMTG”) (Nasdaq: “DJT”; NYSE Texas: “DJT”) and TAE Technologies, Inc. (“TAE”), an innovator in advanced technology across fusion energy, power management and cancer therapy, announced the filing today of a registration statement on Form S-4 (the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the companies’ previously announced merger.

On December 18, 2025, TMTG and TAE entered into an Agreement and Plan of Merger (the “Merger”) providing for an all-stock business combination. Once completed, the combined company will be publicly traded, with TMTG shareholders and TAE stockholders each owning approximately 50% of the enterprise on a fully diluted basis.

The combination will pair TMTG’s balance sheet with TAE’s applied research and advantaged technologies, developed over nearly 30 years. TAE is now bringing these technologies to the marketplace, commercializing its portfolio through three distinct but synergistic business units, Fusion, Power Solutions, and Life Sciences, while maintaining its focus on developing new technology solutions.

Upon closing, TAE will continue to address growing demand for reliable, abundant, and affordable electricity, including the power and power management needed to support advancements in artificial intelligence. The combination is consistent with TMTG’s mission of diversifying into new, critically important sectors through transformative technology investments with the potential to create significant long-term value.

“With TAE, we see a differentiated, balanced risk profile with attractive growth opportunities,” said Kevin McGurn, Interim Chief Executive Officer of TMTG. “Today’s filing is a key step toward closing this merger and providing capital to fund TAE’s development of commercial fusion power.”

Michl Binderbauer, Chief Executive Officer and Chief Technology Officer of TAE Technologies, said “TMTG has been a strong supporter in our effort to commercialize our technologies. Over three decades, we’ve relentlessly pursued some of the most challenging scientific and engineering problems known to humankind, which has produced cutting-edge technology that we are commercializing today.”

The Registration Statement includes a preliminary proxy statement of TMTG, a prospectus of TMTG, and a consent solicitation statement of TAE. It has not yet become effective, and the securities to be issued in the Merger may not be sold, nor may offers to buy be accepted, prior to the time the Registration Statement is declared effective by the SEC.

About Trump Media & Technology Group Corp.

The mission of Trump Media is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations; Truth+, a TV streaming platform focusing on family friendly live TV channels and on-demand content; and Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles.

About TAE Technologies, Inc.

Founded in 1998, TAE Technologies’ mission is to develop and commercialize advanced technologies that solve the world’s most difficult scientific and engineering challenges. TAE’s north star is to deliver reliable, abundant, and clean fusion technology as a cost-competitive component of the future global energy supply. Fusion development serves as a forcing function, requiring TAE to develop technologies across a broad and deep spectrum of highly technical fields, with various commercial applications, including power solutions and life sciences. TAE’s Power Solutions (“TPS”) business unit applies fusion-derived, microsecond-scale power control to the challenges created by highly dynamic AI compute loads, through its flagship offering, TAE PowerFabric™. TAE’s Life Sciences (“TLS”) business unit set out to leverage TAE Technologies’ proprietary fusion-derived particle accelerator technology to achieve a step change in radiation therapy, improve the lives of patients and combat difficult-to-treat cancers using biologically-targeted boron neutron capture therapy (“BNCT”). For more information, visit tae.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements regarding the proposed Merger between TMTG and TAE, the anticipated timing and benefits of the transaction, TMTG’s and TAE’s future business plans, and TAE’s development and commercialization of fusion energy technology, including the Da Vinci prototype power plant. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including, among others: the risk that the Merger may not be completed on the anticipated timeline or at all, including as a result of a failure to obtain required shareholder, stockholder or regulatory approvals or satisfy other closing conditions; the possibility that anticipated benefits of the Merger may not be realized; the significant capital required to develop and commercialize TAE’s fusion technology; the risk that TAE may be unable to successfully develop or commercialize a viable fusion reactor on its expected timeline or at all; and other risks and uncertainties described in TMTG’s filings with the SEC, including the Registration Statement and the risk factors described therein. TMTG and TAE undertake no obligation to update any forward-looking statements, except as required by law.

Important Information for Shareholders and Where to Find It

In connection with the proposed Merger, TMTG has filed the Registration Statement with the SEC, which includes a document that serves as a proxy statement of TMTG, a prospectus of TMTG and a consent solicitation statement of TAE (the “proxy statement/prospectus/consent solicitation statement”). The Registration Statement has not yet become effective. This press release is not a substitute for the Registration Statement, the definitive proxy statement/prospectus/consent solicitation statement or any other document that TMTG may file with the SEC in connection with the proposed Merger. INVESTORS AND SECURITY HOLDERS OF TMTG AND TAE ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS/CONSENT SOLICITATION STATEMENT AND ALL OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TMTG, TAE, THE PROPOSED MERGER AND RELATED MATTERS. Shareholders will be able to obtain, free of charge, copies of the Registration Statement and, once available, the definitive proxy statement/prospectus/consent solicitation statement and other documents filed with the SEC by TMTG through the website maintained by the SEC at www.sec.gov, or from TMTG’s investor relations website at ir.tmtgcorp.com.

Participants in the Solicitation

TMTG, TAE and their respective executive officers, directors, other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from TMTG’s shareholders with respect to the proposed transaction. Information regarding the respective executive officers and directors of TMTG and TAE is set forth in the Registration Statement and the proxy statement/prospectus/consent solicitation statement contained therein filed with the SEC on September 30, 2026. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the effective Registration Statement and other relevant materials to be filed with the SEC regarding the proposed transaction when they become available.

No Offer or Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Merger and is not a substitute for the proxy statement/prospectus/consent solicitation statement or any other document that TMTG may file with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Investor Relations Contact

Shannon Devine (MZ Group | Partner - MZ North America)

Email: [email protected]

Media Contact

[email protected]

Nebius stock NBIS gained 2% in premarket trading on Wednesday after William Blair initiated coverage of the AI-focused cloud provider with an ‘Outperform’ rating.

Analyst Jason Ader said Nebius has several attributes that could help it become a differentiated AI-native cloud platform, including infrastructure scale, software capabilities, major customer relationships and access to low-cost capital, according to TheFly.

Ader described Nebius as “not just another neocloud”, and said the company’s current valuation does not fully reflect its long-term earnings potential.

William Blair highlighted Nebius’ infrastructure scale and software capabilities, alongside its relationships with major customers and access to capital, as factors that could differentiate the company from other neocloud providers.

The initiation follows a bullish call from BNP Paribas last week.

The firm upgraded Nebius to ‘Outperform’ from ‘Neutral’ and raised its price target to $399 from $260.

BNP Paribas said Nebius’ outlook had “meaningfully improved” since it began covering the company in June.

The analysts also said Nebius could approach $22 billion in annual recurring revenue by the end of 2027. They added that the company’s eventual 2027 guidance could materially reset market estimates higher.

Nebius has rapidly expanded its AI cloud infrastructure as demand for computing capacity increases.

The company reported second-quarter revenue of $582.3 million, representing a 454% increase from a year earlier.

Adjusted EBITDA rose from a loss of $21 million to earnings of $236.2 million, while its adjusted net loss narrowed 64% year over year to $33.2 million.

Nebius said the second quarter was its best commercial quarter, with four major AI cloud deals carrying an average total contract value of more than $1 billion each.

The company has also expanded its customer base and infrastructure. Its five-year agreement with Meta Platforms has a potential value of up to approximately $27 billion.

Nebius said in July that it had more than $40 billion in additional contracted revenue from investment-grade customers, including Microsoft and Meta.

The company also announced a $10 billion expansion to build an AI factory in Finland and has begun validating its first full Nvidia Vera Rubin NVL72 rack at its Finland data centre.

Nebius has also raised significant capital to support its infrastructure expansion. The company closed a $5.75 billion convertible-note offering in August.

The company has Nvidia as a passive stakeholder and has raised prices for leasing selected Nvidia chips on a pay-as-you-go basis from October 1.

Earlier this month, Palantir named Nebius its preferred sovereign AI infrastructure partner under a strategic agreement to provide Nebius compute and inference capabilities to eligible Palantir customers.

According to WSJ data, analysts have a consensus overweight rating on Nebius stock, with 14 buy ratings, one overweight rating, seven hold ratings, one underweight rating, and one sell rating.

With the Starship launch on Monday marking a milestone for SpaceX, analysts at Citi believe the event is a major step toward unlocking the company’s broader valuation, including a long-term price target of $900 a share.

The target, set by Citi analysts led by John Godyn, would value SpaceX at roughly $12.2 trillion, more than twice Nvidia’s current market value, MarketWatch reported.

SpaceX SPCX is currently valued at around $2 trillion.

Citi said the successful 14th flight of Starship strengthened the investment case for SpaceX’s launch, satellite connectivity and artificial-intelligence businesses.

“We believe that SPCX's unrivaled launch capabilities represent the foundational competitive advantage that enables all other parts of its business,” Godyn said in a note to clients, calling the latest Starship mission a “major” milestone.

SpaceX launched Starship on Monday for the first time since July.

Despite an engine problem, the spacecraft reached orbit, marking a significant milestone for the company’s largest and most powerful rocket.

The mission also saw Starship deploy 26 Starlink V3 satellites, making it the vehicle’s first revenue-generating flight.

Citi said the ability to use Starship to deploy large numbers of advanced Starlink satellites, as well as future AI satellites, could become an important driver of SpaceX’s growth.

Godyn said the latest mission brings the company closer to “unlocking the full valuation” of its AI and connectivity operations.

Starship itself is not expected to generate most of SpaceX’s future revenue.

Instead, Citi sees the rocket as infrastructure that could enable other businesses by substantially increasing the number of satellites SpaceX can put into orbit.

“The successful deployment of Starship will establish the most affordable and scalable path to unlocking the economic potential of space,” Citi wrote in an earlier note to clients.

The bullish valuation assumes SpaceX will expand rapidly over the next several years.

Wall Street expects the company to generate about $44 billion in revenue and $21 billion in earnings before interest, tax, depreciation and amortization in 2026, according to FactSet data.

Citi expects a significantly larger business by 2030, forecasting $484 billion in revenue and $360 billion in EBITDA.

That compares with consensus estimates of $409 billion in revenue and $311 billion in EBITDA.

For 2031, Citi forecasts SpaceX revenue of about $1 trillion, broadly matching a prediction previously made by Chief Executive Officer Elon Musk.

Citi also has a $200 target for SpaceX shares by the end of this year.

The next major test could come on Starship’s next flight, which is expected before the end of the year.

UBS analyst John Hodulik said SpaceX could attempt to catch the vehicle using the launch tower’s “chopstick” arms.

Successfully recovering Starship would be an important step toward making the vehicle rapidly reusable.

Hodulik said combining the catch technology with SpaceX’s planned Louisiana spaceport could help the company “create a steady cadence of launches in 2027.”

He has a $210 price target for SpaceX.

RBC analyst Ken Herbert also viewed the latest launch positively and has a $225 target.

However, the flight was not without technical problems.

Deutsche Bank analyst Edison Yu said SpaceX still needs to determine the cause of the booster’s engine issues and investigate the early shutdown of one of Starship’s Raptor vacuum engines.

That failure nearly forced SpaceX to abandon its attempt to reach orbit, underscoring the engineering challenges that remain before Starship can support the high-frequency launch schedule envisioned by the company and its bullish analysts.

Twin Lakes Capital Management LLC bought a new position in Apple Inc. (NASDAQ:AAPL – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 81,324 shares of the iPhone maker’s stock, valued at approximately $23,532,000. Apple comprises about 9.0% of Twin Lakes Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding.

A number of other hedge funds also recently bought and sold shares of AAPL. Avenir Tech Ltd purchased a new stake in shares of Apple during the 2nd quarter valued at about $29,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Apple during the 2nd quarter worth approximately $30,000. Lifetime Wealth Management P.C. purchased a new stake in shares of Apple during the fourth quarter valued at $41,000. Ascentis Wealth Management LLC boosted its position in Apple by 822.7% in the 2nd quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker’s stock valued at $85,000 after buying an additional 260,792 shares during the period. Finally, Basso Capital Management L.P. bought a new position in Apple in the fourth quarter worth approximately $88,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple In related news, SVP Jennifer Newstead sold 2,399 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $340.06, for a total transaction of $815,803.94. Following the completion of the sale, the senior vice president directly owned 44,391 shares of the company’s stock, valued at approximately $15,095,603.46. This trade represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 11,031 shares of company stock worth $3,535,759. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In A number of research analysts have commented on AAPL shares. Jefferies Financial Group reissued an “underperform” rating on shares of Apple in a research report on Wednesday, September 9th. Raymond James Financial reissued a “market perform” rating on shares of Apple in a report on Friday, July 31st. Piper Sandler assumed coverage on shares of Apple in a report on Monday, August 17th. They set an “overweight” rating on the stock. Phillip Securities increased their price target on shares of Apple from $290.00 to $300.00 and gave the stock a “neutral” rating in a report on Monday, September 14th. Finally, Barclays reissued an “underweight” rating and issued a $245.00 price objective (down from $253.00) on shares of Apple in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $340.14. Check Out Our Latest Stock Analysis on AAPL

Apple News Roundup Here are the key news stories impacting Apple this week:

Positive Sentiment: CEO John Ternus is reportedly considering a leaner, engineering-led structure that could eliminate layers of middle management, accelerate product launches and make Apple more experimental. Investors may view the changes as a response to concerns about slower innovation, particularly in artificial intelligence. Apple CEO overhaul report Positive Sentiment: Apple Pay is reportedly launching in a key market, potentially expanding transaction volume and services revenue. Separately, Apple remains a major customer for TSMC’s advanced 2-nanometer chips, supporting future device performance and product differentiation. Apple Pay launch report Neutral Sentiment: Apple’s large buyback program remains a relative strength among the Magnificent Seven, although the immediate effect is financial support rather than a new growth catalyst. Apple and Nvidia buybacks Negative Sentiment: Bank of America warned that Meta’s Muse could change how consumers search, shop and initiate payments. Even if users continue buying iPhones, AI agents could divert discovery and referral activity away from Apple’s ecosystem, putting pressure on services growth and Apple’s AI strategy. Apple faces threat from Meta Muse Negative Sentiment: Reports that Ternus may plan layoffs as memory-chip costs rise raise concerns about gross-margin pressure and slower near-term earnings growth. Apple has already indicated that higher memory expenses could reduce profit per device. Negative Sentiment: Apple also faces legal and operational overhangs, including a $5.7 billion patent verdict, a revived UK consumer lawsuit involving Amazon marketplace sales, and an emergency iOS security update addressing a flaw that could enable arbitrary code execution. Apple patent verdict Apple Price Performance Shares of Apple stock opened at $329.40 on Wednesday. The business has a 50 day simple moving average of $321.83 and a two-hundred day simple moving average of $298.67. Apple Inc. has a 12 month low of $243.42 and a 12 month high of $345.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.93. The stock has a market capitalization of $4.81 trillion, a P/E ratio of 37.78, a PEG ratio of 2.94 and a beta of 1.08.

Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.13. The firm had revenue of $109.42 billion for the quarter, compared to analyst estimates of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 earnings per share. As a group, analysts predict that Apple Inc. will post 8.74 EPS for the current fiscal year.

Apple Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Apple’s dividend payout ratio is 12.39%.

Apple Company Profile (Free Report)

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple’s services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.

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NorthRock Partners LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 6.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,214 shares of the social networking company’s stock after acquiring an additional 1,164 shares during the period. NorthRock Partners LLC’s holdings in Meta Platforms were worth $11,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Watchman Group Inc. boosted its stake in Meta Platforms by 0.3% in the 1st quarter. Watchman Group Inc. now owns 5,091 shares of the social networking company’s stock valued at $2,913,000 after purchasing an additional 15 shares during the period. Penney Financial LLC increased its position in Meta Platforms by 3.9% during the 1st quarter. Penney Financial LLC now owns 399 shares of the social networking company’s stock worth $228,000 after buying an additional 15 shares during the period. Barnes Pettey Financial Advisors LLC lifted its holdings in shares of Meta Platforms by 1.0% during the first quarter. Barnes Pettey Financial Advisors LLC now owns 1,519 shares of the social networking company’s stock worth $869,000 after buying an additional 15 shares in the last quarter. CWS Financial Advisors LLC lifted its holdings in shares of Meta Platforms by 1.7% during the first quarter. CWS Financial Advisors LLC now owns 985 shares of the social networking company’s stock worth $564,000 after buying an additional 16 shares in the last quarter. Finally, Tenzing Financial LLC boosted its position in shares of Meta Platforms by 1.3% in the second quarter. Tenzing Financial LLC now owns 1,210 shares of the social networking company’s stock valued at $726,000 after acquiring an additional 16 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets In other news, insider Christopher K. Cox sold 40,000 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $712.76, for a total transaction of $28,510,400.00. Following the completion of the transaction, the insider owned 184,516 shares of the company’s stock, valued at approximately $131,515,624.16. The trade was a 17.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 946 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $680.27, for a total transaction of $643,535.42. Following the completion of the transaction, the chief operating officer directly owned 9,770 shares of the company’s stock, valued at $6,646,237.90. This trade represents a 8.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 150,307 shares of company stock worth $101,851,357 over the last three months. Insiders own 13.53% of the company’s stock.

Meta Platforms Price Performance META stock opened at $739.43 on Wednesday. The company’s 50-day moving average price is $618.47 and its two-hundred day moving average price is $613.86. The firm has a market cap of $1.88 trillion, a P/E ratio of 27.85, a P/E/G ratio of 1.25 and a beta of 1.25. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $779.82. Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The social networking company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). The firm had revenue of $60.80 billion for the quarter, compared to the consensus estimate of $60.22 billion. Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.The business’s revenue was up 28.0% on a year-over-year basis. During the same period last year, the company posted $7.14 EPS. On average, analysts anticipate that Meta Platforms, Inc. will post 27.94 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, September 21st were given a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 21st. Meta Platforms’s payout ratio is currently 7.91%.

Wall Street Analyst Weigh In A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Meta Platforms from $750.00 to $820.00 and gave the stock a “buy” rating in a research report on Friday, September 25th. Moffett Nathanson cut their price objective on shares of Meta Platforms from $800.00 to $740.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Barclays decreased their target price on shares of Meta Platforms from $830.00 to $780.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Mizuho set a $750.00 target price on shares of Meta Platforms and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $820.00 to $920.00 and gave the company an “overweight” rating in a research report on Thursday, September 24th. Three research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $787.86.

Check Out Our Latest Stock Analysis on Meta Platforms

Key Headlines Impacting Meta Platforms Here are the key news stories impacting Meta Platforms this week:

Positive Sentiment: Meta expanded Muse for Small Business, adding integrations with Shopify, QuickBooks, Stripe, Canva, Dropbox and Slack. The initiative could create subscription, transaction and enterprise-software revenue streams while reducing the company’s reliance on digital advertising. Meta expands Muse AI agent for small businesses Positive Sentiment: Analysts highlighted Muse’s rapid adoption and potential to become a multibillion-dollar growth catalyst. Its integration with Meta’s large Facebook, Instagram, Messenger and WhatsApp user base may support future subscriptions, commerce fees, advertising improvements and AI-api revenue. Beyond advertising: analysts align on Meta Muse Positive Sentiment: Meta’s push into business AI was reinforced by its new Meta Enterprise Platform and the hiring of former MongoDB CEO Chirantan “CJ” Desai to lead the effort. The move signals an attempt to monetize substantial AI infrastructure spending through corporate customers. Meta launches enterprise AI platform Positive Sentiment: Monness Crespi & Hardt raised its META price target to $830 from $730 and maintained a Buy rating. Analysts also point to AI-driven increases in advertising engagement, clicks and conversions as evidence that current investments may strengthen Meta’s core business. Meta Platforms price target raised Neutral Sentiment: Meta CEO Mark Zuckerberg sold 27,474 shares for approximately $21.4 million under a pre-arranged Rule 10b5-1 plan. Because the sale was scheduled in advance, it is not necessarily a signal about the company’s outlook. Mark Zuckerberg sells Meta shares Negative Sentiment: OpenAI unveiled its always-on Dots agents, creating a direct competitive threat to Muse in consumer and enterprise AI. Reports that Muse exposed private information, including a user’s address, also raise privacy, safety, regulatory and reputational risks. OpenAI unveils Dots agents Negative Sentiment: Investors continue to weigh Meta’s sharply higher AI and data-center expenses against uncertain returns. The company also faces scrutiny over teen safety, data practices and potential regulation, which could increase costs or constrain monetization. Meta Platforms Company Profile (Free Report)

Meta Platforms, Inc is a technology company that develops social networking, messaging, virtual and augmented reality, and artificial intelligence products. The company operates a global family of apps that includes Facebook, Instagram, Messenger, WhatsApp and Threads, enabling users to connect, communicate, share content and discover communities.

Meta generates most of its business through digital advertising displayed across its platforms. Its products serve individuals, creators, businesses and organizations in markets around the world, while its advertising tools help businesses reach audiences based on factors such as interests, activity and demographics.

Through its Reality Labs division, Meta develops virtual and augmented reality hardware, software and services, including the Meta Quest line of headsets and related experiences.

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It sure is an interesting time to be a Tesla (TSLA -1.29%) investor. There's no shortage of intriguing things in the works as the electric vehicle (EV) maker gears up for its long-awaited Roadster unveiling in October, wins a huge order for its electric Semi truck, and slowly moves forward with its Cybercab robotaxi rollout, all with an eye on a future that might revolve entirely around artificial intelligence (AI), humanoid robots, and driverless vehicles. Tesla just landed a historic order as the primary manufacturer for a 2,500-unit order from ZET SCALE. But there's even more insight to glean from this unique order, and it's good news for investors and Tesla.

By the numbers Tesla winning a 2,500-unit order from ZET SCALE is great news, as it's the largest electric heavy commercial truck order in U.S. history. That order alone would nearly double the number of big electric trucks on U.S. roads, and ZET SCALE is aiming to put more than 10,000 on the roads over time. Now, to be fair, it isn't yet clear if these will all be Tesla Semis, as the company is named the primary supplier, along with three other manufacturers as secondary suppliers. Still, the 2,500-vehicle order already dwarfs Tesla's Einride 500-truck deal, which was previously the largest Tesla Semi order. But the most intriguing thing might not be Tesla winning the order.

A financing unit, ZET Financial, is the entity placing the purchase orders and it runs a leasing program. To put it concisely, the finance arm's entire goal is to take the residual-value risk from fleet operators. But let's break that down and explain what that means, and why it's so important for Tesla. When a fleet or company buys a traditional diesel semitruck, the company does so with decades of history and data that can project fairly closely what the truck will be worth in five to 10 years. That knowledge enables the company to confidently put the future resale value, or its residual value, on its balance sheet.

Because Tesla's Semi trucks are brand new and largely untested long-term, that is a huge risk to take for nearly $300,000 per truck, and that prevents many companies from making such orders early on. Consider the questions facing companies: Will the battery degrade faster than anticipated? Is another company on the cusp of unleashing a better technology in a few years, making these assets significantly less valuable? For some electric truck manufacturers, you have to ask whether the company will even remain in business to provide parts, support, and service. You can have a great product and prove it in as many demonstrations as you want, but the market may not develop because of the exact residual-value risk that companies face with their big-ticket truck purchases. ZET can solve this issue.

Image source: Tesla.

Removing risk With fleets hesitating to buy into the new technology and product, ZET's finance arm is buying the vehicles and taking that gamble off fleet operators' books, and offering fleets a lease to operate the vehicle with a more typical payment plan. In short, ZET becomes an intermediary of sorts, assuming the risk and leasing out the vehicles for a transparent revenue stream.

For a company to make this commitment, it says that it really believes in the technology or product -- in this case, Tesla Semis -- and that's great news. It also opens the door for smaller companies to jump on an order far earlier than they would have purchased on their own, generating demand and a larger market for Tesla. Now, in fairness, there is a trade-off for Tesla, because ZET is essentially buying in bulk, forcing it to compete on price, so the margins likely won't be as great as other orders. But that's a speed bump management can work with.

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What's next? The agreement is a positive development for Tesla and its Semi, but with demand less of an issue in the near term, especially with a company like ZET helping remove risk from early adopters, investor focus now turns to production. The dedicated Tesla Semi Factory in Sparks, Nevada, is currently ramping up volume production with a total annual capacity of about 50,000 trucks.

Let's pump the brakes on that capacity figure for now, however, as the 2026 outlook is estimated to have production reach between 5,000 and 15,000 units. There's also a global rollout of the Tesla Semi planned, with European deliveries expected to begin as soon as 2027. Although investors may have to deal with quite a bit of uncertainty hanging over Tesla's head -- uncertainty may be Wall Street's most hated word -- it's just a little bit of good news that its Semi isn't adding to that and that ZET is making it easier for the market to take the leap.