April 2026 - Page 8 of 13

Burry vs. Palantir: Is the AI Era Exposing a Crack in the Foundation?

Posted on April 10, 2026April 10, 2026 by [email protected]

Michael Burry has built a career on being early — and loudly wrong before being right. The founder of Scion Asset Management, immortalized for his prescient bet against the U.S. housing market ahead of the 2008 financial crisis, turned his sights on Palantir Technologies (PLTR) this week with a pointed post on X that sent the stock tumbling roughly 7% before he quietly deleted it.

The claim was simple and blunt, as Burry tends to be: Anthropic, the AI startup behind the Claude platform, is “eating Palantir’s lunch.”

Whether he’s right is a separate question. What’s not debatable is that the market paid attention.

What Burry Actually Said

Burry’s thesis centered on Anthropic’s explosive revenue growth — from $9 billion to $30 billion in annual recurring revenue (ARR) in a matter of months — as evidence that enterprise customers are gravitating toward AI solutions that are “easier, cheaper, and more intuitive.” His argument frames Palantir less as a high-growth technology company and more as a labor-intensive consulting business, pointing to the company’s reliance on Forward Deployed Engineers (FDEs) — Palantir staff embedded inside client organizations for months at a time to implement and maintain its platforms.

That model, Burry argued, is structurally vulnerable as direct AI integrations become more accessible. “It took $PLTR 20 years to get to $5 billion,” he noted, while Anthropic is scaling at a pace that suggests the market may be ready to reward the brains of the AI revolution over the operating systems built around it.

This isn’t a new position for Burry. He disclosed a significant short position in Palantir via long-dated put options as far back as September 2025.

The Bull Case: Palantir’s Moat is Real

Not everyone on Wall Street is ready to write Palantir’s eulogy. Wedbush analyst Dan Ives maintains an Outperform rating with a $230 price target, arguing that Palantir occupies a uniquely defensible position at the intersection of AI and federal government infrastructure. The argument: you cannot run sophisticated AI on sensitive government data without the kind of secure, structured, and compliant data architecture that Palantir provides.

That argument gained added texture this year when the Trump administration banned Anthropic from Pentagon systems following a dispute over AI safety guardrails. Palantir was reportedly ordered to remove Claude from its Maven Smart System and rebuild parts of the platform. That incident, while disruptive in the short-term, arguably underscores the stickiness of Palantir’s enterprise relationships — and the risk that pure AI model providers face in regulated environments where trust, compliance, and security clearances matter as much as raw capability.

Palantir has also posted ten consecutive quarters of accelerating revenue growth, a track record that speaks for itself regardless of how the competitive landscape evolves.

The Bear Case: Valuation Leaves Little Room for Error

Where the bull case gets complicated is on valuation. Morgan Stanley analyst Sanjit Singh, while acknowledging Palantir’s standing as a “clear winner through the first stage of the AI cycle,” has flagged that the stock currently trades at roughly 38 times 2027 sales. At that multiple, even strong execution may not be enough to drive meaningful upside. The bar is simply very high.

Burry’s consulting-business critique also has some factual grounding. Palantir’s 10-K does categorize its FDE deployments under professional services — a labor-driven revenue model that is inherently harder to scale than a software subscription or API-based product. As Anthropic and similar companies lower the barrier to deploying enterprise AI, the question of whether Palantir’s hands-on model remains a differentiator or becomes a liability is a fair one to ask.

The Bigger Picture

What this week’s episode illustrates isn’t necessarily that Burry is right or wrong about Palantir specifically. It’s that the AI investment landscape is entering a more complex phase — one where the market is beginning to draw distinctions between infrastructure plays, model providers, and application layers, and debating which of those tiers captures the most durable value.

Anthropic’s valuation recently reached $380 billion, a figure that reflects investor conviction that the model layer is where the leverage lives. Palantir’s case rests on the idea that data infrastructure and operational trust — particularly in government — represent a moat that model providers cannot easily replicate.

Both arguments have merit. The risk for investors is that at current valuations, both stocks demand a level of confidence in the future that leaves little margin for disappointment.

As always, one social media post — even a deleted one — is not a thesis. But when Michael Burry posts, it’s worth understanding exactly what he’s saying and why the market reacted the way it did.

Release – AZZ Inc. Announces Fiscal Year 2026 Fourth Quarter Cash Dividend

Posted on April 9, 2026April 9, 2026 by [email protected]

Research News and Market Data on AZZ

FORT WORTH, Texas, April 9, 2026 /PRNewswire/ — AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced its Board of Directors has authorized a fourth quarter cash dividend in the amount of $0.20 per share on the Company’s outstanding shares of common stock. The dividend is payable on May 14, 2026, to shareholders of record as of the close of business on April 23, 2026.

While AZZ currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends will be reviewed on an individual basis and declared by the Board of Directors at its discretion. AZZ remains committed to enhancing shareholder value based upon its consideration of various factors, including operating results, financial condition, and business outlook at the applicable time.

About AZZ Inc.

AZZ Inc. is the leading independent provider of hot-dip galvanizing and coil coating solutions to a broad range of end-markets. Collectively, our business segments provide sustainable, unmatched metal coating solutions that enhance the longevity and appearance of buildings, products and infrastructure that are essential to everyday life.

Safe Harbor Statement

Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as “may,” “could,” “should,” “expects,” “plans,” “will,” “might,” “would,” “projects,” “currently,” “intends,” “outlook,” “forecasts,” “targets,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial, and economic data and management’s views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. Forward-looking statements speak only as of the date they are made and are subject to risks that could cause them to differ materially from actual results. Certain factors could affect the outcome of the matters described herein. This press release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand for our manufactured solutions, including demand by the construction markets, the industrial markets, and the metal coatings markets. We could also experience additional increases in labor costs, components and raw materials including zinc and natural gas, which are used in our hot-dip galvanizing process, paint used in our coil coating process; supply-chain vendor delays; customer requested delays of our manufactured solutions; delays in additional acquisition opportunities; an increase in our debt leverage and/or interest rates on our debt, of which a significant portion is tied to variable interest rates; availability of experienced management and employees to implement AZZ’s growth strategy; a downturn in market conditions in any industry relating to the manufactured solutions that we provide; economic volatility, including a prolonged economic downturn or macroeconomic conditions such as inflation or changes in the political stability in the United States and other foreign markets in which we operate; tariffs; acts of war or terrorism inside the United States or abroad; and other changes in economic and financial conditions. AZZ has provided additional information regarding risks associated with the business, including in Part I, Item 1A. Risk Factors, in AZZ’s Annual Report on Form 10-K for the fiscal year ended February 28, 2025, and other filings with the SEC, available for viewing on AZZ’s website at www.azz.com and on the SEC’s website at www.sec.gov. You are urged to consider these factors carefully when evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date hereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contact:
David Nark, Chief Marketing, Communications, and Investor Relations Officer
AZZ Inc.
(817) 810-0095
www.azz.com

Investor Contact:
Sandy Martin, Phillip Kupper
Three Part Advisors
(214) 616-2207
www.threepa.com

SOURCE AZZ, Inc.

Release – Cardiff Oncology Announces Key Leadership Appointments to Strengthen Executive Team for Next Phase of Growth

Posted on April 9, 2026April 9, 2026 by [email protected]

Research News and Market Data on CRDF

April 9, 2026

PDF Version

Board member and Interim CEO Mani Mohindru, PhD, named President and Chief Executive Officer

Appoints industry veterans Josh Muntner as Chief Financial Officer and Ajay Aggarwal, MD, MBA, as Chief Operating Officer

SAN DIEGO, April 09, 2026 (GLOBE NEWSWIRE) — Cardiff Oncology, Inc. (Nasdaq: CRDF), a clinical-stage biotechnology company leveraging PLK1 inhibition to develop novel therapies across a range of cancers, today announced the appointment of Mani Mohindru, PhD, as President and Chief Executive Officer (CEO), following her time as Interim CEO, and that she will continue as a member of the Board. The Company also appointed Josh Muntner as Chief Financial Officer and Ajay Aggarwal, MD, MBA, as Chief Operating Officer, effective April 6 and April 27, respectively. Together, these appointments reflect Cardiff’s commitment to building an experienced leadership team to advance onvansertib and deliver on the program’s long-term potential.

“I am honored to step into the role of Chief Executive Officer at this important time for Cardiff. We have made meaningful progress advancing onvansertib in first-line RAS-mutant metastatic colorectal cancer and remain focused on delivering clinical data to support our registrational program,” said Mani Mohindru, PhD, President and Chief Executive Officer. “Building the right team to advance this promising asset is central to our strategy and to ultimately delivering a potential new therapy to patients in need.”

Dr. Mohindru continued, “We are excited to welcome Josh and Ajay to our team. Josh is a highly accomplished financial leader with a strong track record of executing complex financings and building trusted relationships across the investment community. Ajay brings deep clinical development and operational expertise, with a proven ability to advance programs from early research through late-stage development. Together, their complementary experience strengthens our ability to execute our strategic priorities.”

Josh Muntner

Mr. Muntner brings deep expertise in capital markets strategy, financial operations and supporting clinical-stage organizations through key inflection points. He is a seasoned biopharma finance executive with more than 25 years of experience spanning investment banking and corporate leadership roles, including as CFO of both private and publicly traded biotechnology companies. Previously, Mr. Muntner served as Chief Financial Officer of Imvax, Inc., where he led all finance functions, including raising $86 million in a convertible financing. Prior to that, he served as Chief Financial Officer of Mesoblast Ltd., a Nasdaq- and ASX-listed biotechnology company, where he completed multiple cross-border equity and debt financings totaling approximately $300 million and helped expand the company’s U.S. investor base. Earlier in his career, Mr. Muntner held senior roles in investment banking, completing more than 90 transactions and raising over $9 billion in equity and debt financing for life sciences companies. Mr. Muntner serves as a member of the Board Directors at Devonian Health Group Inc., a biopharmaceutical company developing immunomodulatory treatments for inflammatory diseases.

Mr. Muntner holds an MBA from the UCLA Anderson School of Management and a BFA from Carnegie Mellon University.

Ajay Aggarwal, MD, MBA

Dr. Aggarwal is a board-certified Pulmonary, Critical Care and Sleep Medicine physician with more than 15 years of experience in the pharmaceutical industry, spanning respiratory, immunology and oncology drug development. Most recently, he served as Senior Vice President and Head of Clinical Development at Aclaris Therapeutics, where he led clinical strategy and execution across multiple programs.

Prior to Aclaris, Dr. Aggarwal served as Chief Medical Officer of CereXis, Inc., a company advancing therapies for rare neurology and oncology indications. He has also held clinical leadership roles at Insmed, Inc. and AstraZeneca PLC, where he successfully advanced several compounds from preclinical stages into late-stage clinical development.

Earlier in his career, he held academic leadership roles, including Chief of Medicine at a VA Hospital, and has authored numerous peer-reviewed publications. He is a Fellow of the American College of Chest Physicians.

Dr. Aggarwal received his MBA from the Kellogg School of Management at Northwestern University and his medical degree from the All India Institute of Medical Sciences.

Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

In connection with Mr. Muntner joining Cardiff Oncology, the Company’s Board of Directors approved the grant of non-qualified stock options to purchase 486,650 shares of Cardiff Oncology common stock outside of the Cardiff Oncology 2021 Omnibus Equity Incentive Plan. The stock option was granted as an inducement material to Mr. Muntner becoming an employee of Cardiff Oncology in accordance with Nasdaq Listing Rule 5635(c)(4). The option was granted as of April 6, 2026, and has an exercise price of $1.58 per share, the closing price on the grant date. The option vests over four years with 25% vesting after 12 months and the remaining shares vesting monthly over the following 36 months, subject to Mr. Muntner’s continued employment with Cardiff Oncology on such vesting dates.

About Cardiff Oncology, Inc.
Cardiff Oncology is a clinical-stage biotechnology company advancing innovative cancer treatments focused on PLK1 inhibition, a validated oncology target with practice-changing potential. Our lead asset, onvansertib, is a highly specific, oral PLK1 inhibitor currently being evaluated in a Phase 2 trial for first-line treatment of RAS-mutated metastatic colorectal cancer (mCRC), addressing a large, underserved patient population with high unmet need. Onvansertib is also under investigation in other PLK1-driven cancers through ongoing investigator-initiated trials and has shown robust single agent clinical activity in hard-to-treat tumors. By targeting tumor vulnerabilities, we aim to overcome treatment resistance and deliver improved clinical outcomes for patients.
For more information, please visit https://www.cardiffoncology.com.

Forward-Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified using words such as “anticipate,” “believe,” “forecast,” “estimated” and “intend” or other similar terms or expressions that concern Cardiff Oncology’s expectations, strategy, plans or intentions. These forward-looking statements are based on Cardiff Oncology’s current expectations and actual results could differ materially. There are several factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results; our clinical trials may be suspended or discontinued due to unexpected side effects or other safety risks that could preclude approval of our product candidate; results of preclinical studies or clinical trials for our product candidate could be unfavorable or delayed; our need for additional financing; risks related to business interruptions, including the outbreak of COVID-19 coronavirus and cyber-attacks on our information technology infrastructure, which could seriously harm our financial condition and increase our costs and expenses; uncertainties of government or third party payer reimbursement; dependence on key personnel; limited experience in marketing and sales; substantial competition; uncertainties of patent protection and litigation; dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. There are no guarantees that our product candidate will be utilized or prove to be commercially successful. Additionally, there are no guarantees that future clinical trials will be completed or successful or that our product candidate will receive regulatory approval for any indication or prove to be commercially successful. Investors should read the risk factors set forth in Cardiff Oncology’s Form 10-K for the year ended December 31, 2025, and other periodic reports filed with the Securities and Exchange Commission. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Forward-looking statements included herein are made as of the date hereof, and Cardiff Oncology does not undertake any obligation to update publicly such statements to reflect subsequent events or circumstances.

Investor Contact:
Candice Masse
astr partners
[email protected]

Media Contact:
Amy Bonanno
Lyra Strategic Advisory
[email protected]

Three Percent and Stuck: What February’s PCE Report Means for Small Cap Investors

Posted on April 9, 2026April 9, 2026 by [email protected]

February’s Personal Consumption Expenditures (PCE) report, released Thursday, confirmed what many on Wall Street suspected but hoped wasn’t true: inflation remains stubbornly entrenched, and the Federal Reserve has no clear path to cutting interest rates anytime soon. For small and microcap investors, this isn’t just a macro headline — it’s a direct input into valuations, borrowing costs, and growth timelines.

The Fed’s preferred inflation gauge rose 2.8% in February on a headline basis. Core PCE, which strips out food and energy and is the number the Fed actually weighs policy decisions against, came in at 3.0% — exactly where it has been parked for three consecutive months. On a 3-month annualized basis, core inflation is running at 3.7%, nearly double the Fed’s 2% target. The report was delayed from its original March 27 release date due to the government shutdown last fall, making today’s release the first clean read the market has had in months.

The timing is particularly complicated. This data reflects economic conditions that existed before the Iran conflict escalated, before oil prices surged, and before the Strait of Hormuz disruptions began compressing global supply chains. In other words, the inflation picture captured in February’s numbers is arguably the best it’s going to look for a while — and it still isn’t good enough for the Fed to act.

Goods inflation clocked in at 0.84% for the month, a figure economists point to as evidence that tariff pass-throughs are still working their way into consumer prices. That’s the sticky problem: even if geopolitical tensions ease, tariff-driven inflation has its own timeline, and the Fed can’t cut its way around it.

The one silver lining in the report was services inflation, which showed meaningful improvement in February. Services prices have been a persistent headache for central bankers because they typically reflect wage pressures and domestic demand — both harder to control than goods prices. The improvement suggests that underlying inflation may not be structurally broken, even as energy shocks pile on.

The practical read for small and microcap companies is this: the higher-for-longer rate environment is not lifting anytime soon. Small companies carry a disproportionate share of variable-rate debt and are more sensitive to the cost of capital than their large-cap counterparts. When borrowing costs stay elevated, growth initiatives slow, refinancing gets expensive, and M&A activity tightens — all headwinds for the small and microcap universe.

That said, today’s Iran ceasefire news introduces a meaningful counterweight. Oil prices have already begun pulling back, which relieves some of the near-term inflationary pressure the Fed has been bracing for. If the ceasefire holds and energy prices stabilize, the Fed may not need to hike — it just may not be in position to cut either.

Futures market participants have already absorbed this reality, with nearly 90% now expecting the Fed’s target rate to hold at 3.50%–3.75% through September 2026.

For investors focused on smaller companies, the message is clear: fundamentals matter more than ever in this environment. Companies with strong cash flows, manageable debt loads, and pricing power are best positioned to navigate a world where rate relief isn’t coming on anyone’s preferred schedule.

Release – RGP Reports Financial Results for Third Quarter Fiscal 2026

Posted on April 9, 2026April 9, 2026 by [email protected]

Research News and Market Data on RGP

DALLAS–(BUSINESS WIRE)–Apr. 8, 2026–
Resources Connection, Inc. (Nasdaq: RGP) (the “Company”), a professional services firm, today announced its financial results for its third quarter of fiscal 2026 ended February 28, 2026.

Third Quarter Fiscal 2026 Highlights Compared to Prior Year Quarter:

Revenue of $107.9 million compared to $129.4 million
Gross margin improved to 35.7% compared to 35.1%
Selling, general and administrative (“SG&A”) expenses improved to $45.8 million compared to $51.2 million
Adjusted SG&A expenses, a non-GAAP measure, improved to $39.4 million compared to $43.7 million
Net loss improved to $9.5 million (net loss margin of 8.8%) compared to net loss of $44.1 million (net loss margin of 34.0%)
GAAP diluted loss per common share improved to $0.28 compared to $1.34
Adjusted EBITDA, a non-GAAP measure, of $(1.4) million (Adjusted EBITDA margin of (1.3)%) compared to $1.7 million (Adjusted EBITDA margin of 1.3%)

Management Commentary

“Third quarter results were aligned with our previously provided outlook for revenue and gross margin, and our run rate SG&A expense was better than the outlook,” said Roger Carlile, Chief Executive Officer. “We continue to focus on our four priorities of aligning our cost structure with our current revenue levels, refocusing our On-Demand Talent segment offerings, scaling our Consulting segment, and streamlining how we operate. In the third quarter, we made focused investments in our On-Demand Talent and Consulting segments, which we expect to drive revenue growth as they mature through an anticipated ramp-up period. Additionally, we announced today that we have entered into an agreement to sell our Sitrick crisis communications business as part of the streamlining of our business portfolio to focus on the clients and services where we have a competitive right to win. We are confident that our continued focus on these priorities and related activities will deliver improved future financial results.”

Third Quarter Fiscal 2026 Results

Revenue in the third quarter of fiscal 2026 was $107.9 million compared to $129.4 million in the third quarter of fiscal 2025. On a same-day constant currency basis, revenue decreased by $25.4 million, or 19.6%. Billable hours decreased 16.3% year-over-year and the Company average bill rate for the third quarter of fiscal 2026 decreased 1.0% year over year, or 2.1% on a constant currency basis. The Company average bill rate reflects a continued shift in the geographic revenue mix towards regions with lower bill rates, whereas the average bill rate in the U.S. improved by 2.8% compared to the third quarter of fiscal 2025.

Gross margin in the third quarter of fiscal 2026 improved to 35.7% compared to 35.1% in the third quarter of fiscal 2025. The increase was primarily attributable to a moderate improvement in pay bill ratio, lower holiday pay as a result of less holidays compared to the prior year quarter and lower healthcare costs under the Company’s self-insured medical program.

GAAP SG&A expenses for the third quarter of fiscal 2026 improved to $45.8 million, or 42.5% of revenue, compared to $51.2 million, or 39.5% of revenue, for the third quarter of fiscal 2025. The $5.3 million improvement in SG&A expenses year-over-year was primarily driven by a $1.9 million decrease in employee compensation and benefits costs following the reductions in force in fiscal 2025 and most recently the reductions in force in January 2026 and October 2025 in connection with the Company’s restructuring and transformation initiatives, a $1.6 million decrease in technology transformation costs, primarily associated with the completion of the Company’s North America technology implementation during fiscal 2025, a $0.9 million decrease in stock-based compensation, a $1.4 million decrease in consulting services and professional services fees, and a $1.6 million decrease related to other general and administrative costs due to our efforts to achieve an improved cost structure. These improvements were partially offset by a $1.5 million increase in restructuring costs primarily related to a non-cash impairment charge on a right-of-use asset in connection with the exit and sublease of certain office space, and a $1.0 million increase related to bad debt expense.

Income tax expense for the third quarter of fiscal 2026 was $0.7 million, or an effective tax rate of 7.9%, compared to an income tax benefit of $5.6 million, or an effective tax rate of 11.3%, for the third quarter of fiscal 2025. The income tax expense in the quarter ended February 28, 2026 was primarily attributable to income tax expense from profitable foreign jurisdictions, while losses in certain domestic and foreign jurisdictions did not result in a tax benefit due to the existence of valuation allowances.

Net loss for the third quarter of fiscal 2026 was $9.5 million (net loss margin of 8.8%), compared to net loss of $44.1 million (net loss margin of 34.0%) in the prior year quarter. Both fiscal quarters contained a number of non-run-rate items, including restructuring expenses in the third quarters of fiscal 2026 and fiscal 2025 and a goodwill impairment charge and technology transformation costs in the third quarter of 2025. Excluding all non-run-rate items, Adjusted EBITDA was $(1.4) million (margin of (1.3)%) in the third quarter of fiscal 2026 compared to $1.7 million (margin of 1.3%) in the prior year quarter.

Third Quarter Fiscal 2026 Segment Revenue Results

On-Demand Talent –Revenue in the On-Demand Talent segment was $40.9 million in the third quarter of fiscal 2026 compared to $47.1 million in the third quarter of fiscal 2025. On a same day constant currency basis, revenue decreased 16.3% in the third quarter of fiscal 2026. The decrease was due primarily to a decrease in billable hours of 17.1%, partially offset by an increase in the average bill rate of 4.5% (or 4.0% on a constant currency basis). The Company continued to experience reduced demand in traditional finance roles as clients increasingly adopt AI and automation. The Company remains focused on evolving the on-demand talent base and skillset to align with changing market demand. The improvement in average bill rate was the result of the Company’s continued focus on pricing discipline.

Consulting – Revenue in the Consulting segment was $36.9 million in the third quarter of fiscal 2026 compared to $52.6 million in the third quarter of fiscal 2025. On a same day constant currency basis, revenue decreased 32.5% in the third quarter of fiscal 2026 due to a 31.5% decrease in billable hours, partially offset by a 2.3% (or 1.6% on a constant currency basis) increase in the average bill rate. The decline in billable hours reflected slower pipeline conversion, while average bill rates continue to increase due to pricing discipline.

Europe & Asia Pacific – Revenue in the Europe & Asia Pacific segment was $18.1 million in the third quarter of fiscal 2026 compared to $18.6 million in the third quarter of fiscal 2025. On a same day constant currency basis, revenue declined 5.8%. The decrease was primarily due to a 3.6% decrease in billable hours as a result of delayed project starts, and a 3.9% decrease in the average bill rate on a constant currency basis due to a mix shift to lower cost markets in the Asia Pacific region.

Outsourced Services – Revenue in the Outsourced Services segment was $9.5 million in the third quarter of fiscal 2026 compared to $9.4 million in the third quarter of fiscal 2025. On a same-day constant currency basis, revenue decreased 1.7% in the third quarter of fiscal 2026.Billable hours increased 2.3% and the average bill rate declined 1.3%.

All Other – Revenue in the All Other segment was $2.5 million in the third quarter of fiscal 2026 compared to $1.8 million in the third quarter of fiscal 2025. On a same-day constant currency basis, revenue increased 34.7%. The increase was primarily due to an increase in billable hours of 51.1% partially offset by a 9.9% decrease in average bill rate.

Cash Position and Capital Allocation

As of February 28, 2026, cash and cash equivalents totaled $82.8 million and the Company had up to $49.3 million of remaining capacity under its credit agreement with Bank of America, N.A. entered into on July 2, 2025.

The Company used $0.7 million in cash from operations during the nine months ended February 28, 2026 compared to cash provided by operations of $2.1 million during the nine months ended February 22, 2025.

The Company paid a quarterly dividend of $0.07 per share on December 12, 2025, or $2.3 million in the aggregate, to stockholders of record at the close of business on November 14, 2025. The Company’s Board of Directors had previously approved stock repurchase programs that authorized the Company’s senior executives to purchase shares of the Company’s common stock up to an aggregate dollar limit (the “Stock Repurchase Programs”). No shares of the Company’s common stock were purchased under the Stock Repurchase Programs during the three and nine months ended February 28, 2026. As of February 28, 2026, approximately $79.2 million remained available for future repurchases of the Company’s common stock under the Stock Repurchase Programs.

Conference Call Information

RGP will hold a conference call for analysts and investors at 5:00 p.m., ET, today, April 8, 2026. A live webcast of the call will be available on the Events section of the Company’s Investor Relations website. To access the call by phone, please go to this link (registration link) and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time by visiting the Company’s Investor Relations website.

About RGP

RGP (Nasdaq: RGP) has been redefining professional services for over 30 years by closing the gap between advice and execution. RGP combines the flexibility of on-demand talent, the rigor of consulting, and the accountability of managed services for faster impact, smarter investment, and lower risk. The firm partners with CFOs and other C-suite leaders across finance, digital transformation, data, and cloud—connecting advisory to execution at global scale.

Based in Dallas, Texas, with offices worldwide, RGP annually engages with over 1,500 clients around the world from approximately 40 physical practice offices and multiple virtual offices. As of January 2026, RGP is proud to have served 90% percent of the Fortune 100 and has been recognized by U.S. News & World Report (2025–2026 Best Companies to Work For) and Forbes (America’s Best Midsize Employers 2026, America’s Best Management Consulting Firms 2025, World’s Best Management Consulting Firms 2025).

Resources Connection, Inc. (RGP) is listed on the Nasdaq Global Select Market, the exchange’s highest tier by listing standards. To learn more about RGP, visit: http://www.rgp.com.

Forward-Looking Statements

Certain statements in this press release are “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. These statements relate to expectations concerning matters that are not historical facts. Such forward-looking statements may be identified by words such as “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “forecast,” “future,” “intends,” “may,” “plans,” “potential,” “predicts,” “remain,” “should,” “strategy” or “will” or the negative of these terms or other comparable terminology. In this press release, such statements include statements regarding our strategic and operational plans, including expectations about the benefits of our investments in our Consulting and On-Demand Talent businesses and expectations about our ability to improve future financial results. Such statements and all phases of the Company’s operations are subject to known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievements and those of our industry to differ materially from those expressed or implied by these forward-looking statements. Risks and uncertainties include, but are not limited to, the following: risks related to an economic downturn or deterioration of general macroeconomic conditions, potential adverse effects to our and our clients’ liquidity and financial performances from bank failures or other events affecting financial institutions, the highly competitive nature of the market for professional services, risks related to the loss of a significant number of our consultants, or an inability to attract and retain new consultants, the possible impact on our business from the loss of the services of one or more key members of our senior management or key sales professionals, risks related to potential significant increases in wages or payroll-related costs, our ability to secure new projects from clients, our ability to achieve or maintain a suitable pay/bill ratio, our ability to compete effectively in the competitive bidding process, risks related to unfavorable provisions in our contracts which may permit our clients to, among other things, terminate the contracts partially or completely at any time prior to completion, our ability to realize the level of benefit that we expect from our restructuring initiatives, risks that our recent digital expansion and technology transformation efforts may not be successful, our ability to use artificial intelligence and machine learning in our business, our ability to build an efficient support structure as our business continues to grow and transform, our ability to grow our business, manage our growth or sustain our current business, our ability to serve clients internationally, additional operational challenges from our international activities possible disruption of our business from our past and future acquisitions, the possibility that our recent rebranding efforts may not be successful, our potential inability to adequately protect our intellectual property rights, risks that our computer hardware and software and telecommunications systems are damaged, breached or interrupted, risks related to the failure to comply with data privacy laws and regulations and the adverse effect it may have on our reputation, results of operations or financial condition, our ability to comply with governmental, regulatory and legal requirements and company policies, the possible legal liability for damages resulting from the performance of projects by our consultants or for our clients’ mistreatment of our personnel, risks arising from changes in applicable tax laws or adverse results in tax audits or interpretations, the possible adverse effect on our business model from the reclassification of our independent contractors by foreign tax and regulatory authorities, the possible difficulty for a third party to acquire us and resulting depression of our stock price, the operating and financial restrictions from our credit facility, risks related to the variable rate of interest in our credit facility, the possible impact of activist shareholders, the possibility that we are unable to or elect not to pay our quarterly dividend payment, and other factors and uncertainties as are identified in our most recent Annual Report on Form 10-K for the year ended May 31, 2025, which was filed on July 28, 2025 and our other public filings made with the Securities and Exchange Commission (File No. 0-32113). Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also affect our business or operating results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend, and undertakes no obligation, to update the forward-looking statements in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, unless required by law to do so.

Xcel Brands (XELB) – A Solid Foundation For Growth

Posted on April 9, 2026April 9, 2026 by [email protected]

Thursday, April 09, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q4 Results. The company reported Q4 revenue of $1.2 million and an adj. EBITDA loss of $0.6 million, both of which were modestly lower than our estimates of $1.7 million and a loss of $0.5 million, respectively, as illustrated in Figure #1 Q4 Results. Notably, we view 2025 as a transformational year for the company, given several key partnerships and a more efficient operating structure that positions the company for growth.

Favorable Release Pipeline. In 2026, the company is expected to enter a more significant phase of its growth strategy, centered on brand launches and portfolio expansion. Cesar Millan, Gemma Stafford, and Jenny Martinez are expected to debut on QVC and HSN in Q2, with distribution expanding to brick-and-mortar retail and Amazon in the back half of the year. Additionally, Coco Rocha is expected to launch later in 2026.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.

QuoteMedia Inc. (QMCI) – Entering a Multi-Year Growth Phase

Posted on April 9, 2026April 9, 2026 by [email protected]

Thursday, April 09, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q4 exceeds revenue expectations. QuoteMedia reported Q4 revenue of $5.35M (+14% y/y) and FY2025 revenue of $20.3M (+8% y/y), reflecting solid top-line momentum, while profitability declined with Adjusted EBITDA of $1.0M (vs. $1.8M prior year) and a net loss of $2.3M, driven by investment and accounting treatment of development costs.

Revenue Drivers & Earnings Dynamics. Growth was led by Corporate Quotestream (enterprise), benefiting from larger contracts, higher ARPC, and cross-selling of data and SaaS solutions, while earnings were pressured by higher expensing of development costs (vs. capitalization), which impacted reported profitability but not cash flow.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

AZZ (AZZ) – AZZ To Report FY 2026 Financial Results on April 22

Posted on April 9, 2026April 9, 2026 by [email protected]

Thursday, April 09, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

FY 2026 financial results. AZZ will release fourth quarter and FY 2026 financial results after the market close on Wednesday, April 22. Management will host an investor conference call and webcast on Thursday, April 23, at 11:00 am ET. We anticipate the company will elaborate on its FY 2027 corporate guidance and capital allocation priorities, along with discussing the market outlook and strategic drivers for each of its business segments.

Corporate guidance. FY 2026 sales, EBITDA, and EPS are expected to be in the range of $1.625 to $1.725 billion, $360 to $380 million, and $5.90 to $6.20, respectively. FY 2027 sales are expected to be in the range of $1.725 to $1.775 billion, adjusted EBITDA is expected to be in the range of $360.0 to $400.0 million, and adjusted diluted EPS is expected to be in the range of $6.50 to $7.00.

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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

The Mineral Powering America’s Military That Almost Nobody Is Talking About

Posted on April 9, 2026April 9, 2026 by [email protected]

While Wall Street fixates on gold, lithium, and rare earth elements, a lesser-known critical mineral is quietly becoming one of the most strategically important materials in the world — and a growing opportunity in the small and microcap space. The mineral is antimony, and the race to secure domestic supply is accelerating fast.

Antimony sits at the intersection of defense, energy, and advanced technology. It hardens ammunition and military alloys, serves as a key component in flame-retardant materials protecting electronics and aircraft wiring, and plays a critical role in semiconductors, infrared sensors, and night-vision systems. The U.S. Department of Defense has identified it as one of the most critical minerals in its supply chain — and for good reason. Without antimony, a significant portion of America’s weapons systems simply don’t function.

The problem is stark. The United States has not mined antimony domestically since the early 1990s. China controls roughly 60% of global production and has enacted increasingly aggressive export restrictions, including an outright ban on shipments to the U.S. in late 2024. A Govini supply chain analysis found that more than 80,000 individual weapons parts across nearly 1,900 DoD weapon systems incorporate antimony or related critical minerals. That is not a supply chain vulnerability — that is a national security exposure.

Washington has responded with urgency. The Department of Defense has deployed nearly $400 million in investments and stockpile contracts around domestic antimony production, the most concentrated federal mobilization around a single critical mineral in recent memory. Earlier this year, the DoD disbursed $27 million under the Defense Production Act directly to United States Antimony Corporation (NYSE American: UAMY) — the only domestic processor and finished antimony product manufacturer in the country — to modernize and expand its refining facility in Thompson Falls, Montana, with capacity expected to double to 320 tons per month by year-end.

The other name drawing serious institutional attention is Perpetua Resources (NASDAQ: PPTA). The company broke ground on its Stibnite Gold Project in Idaho in October 2025 after years of permitting work. The project holds 148 million pounds of antimony and is positioned to become the only domestically mined source of the mineral, potentially supplying 35% of annual U.S. antimony demand in its first six years of production. Perpetua has already secured over $70 million in DoD awards and a preliminary $2 billion financing term sheet from the Export-Import Bank of the United States.

From a market standpoint, the global antimony market is currently valued at roughly $2.4 to $2.5 billion. Analysts project it could reach $4.1 to $4.4 billion by the mid-2030s, representing steady annual growth of 5% to 6% over the next decade. Prices have moderated from a record high of nearly $60,000 per tonne reached in mid-2025 following China’s export ban, settling around $25,000 per tonne — still nearly double where they sat two years ago.

The broader context matters here. With the Iran conflict still rattling global supply chains and reshoring emerging as a defining economic policy, the U.S. government’s push to develop domestic critical mineral production is not a trend — it is a structural shift backed by federal dollars and bipartisan political will. For small and microcap investors, that combination of government demand, supply scarcity, and growing commercial applications across defense and advanced technology creates a genuinely compelling long-term setup in a sector that most of the market is still sleeping on.

Antimony may not be a household name yet. It probably will be.

Release – Titan International, Inc. to Announce First Quarter 2026 Financial Results on April 30

Posted on April 8, 2026April 8, 2026 by [email protected]

Research News and Market Data on TWI

Apr 8, 2026

CHICAGO, April 8, 2026 /PRNewswire/ — Titan International, Inc. will release its first quarter 2026 financial results before the opening of the market on Thursday, April 30, 2026 to be followed by a teleconference and webcast on Thursday, April 30, 2026 at 9:00 a.m. Eastern Time.

The real-time, listen-only webcast can be accessed using the following link https://events.q4inc.com/attendee/140857629 or on our website at www.titan-intl.com within the “Investor Relations” page under the “News & Events” menu (https://ir.titan-intl.com/news-and-events/events/default.aspx). Listeners should access the website at least 10 minutes prior to the live event.

In order to participate in the real-time teleconference, with live audio Q&A, participants should use the following dial in number:

United States (Toll-Free): 1 833 461 5787
All Other Locations: https://help.events.q4inc.com/eahc/international-dial-in-numbers
Participants Access Code / Meeting ID: 140857629

A webcast replay of the teleconference will be available on our website (https://ir.titan-intl.com/news-and-events/events/default.aspx) soon after the live event.

About Titan: Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. Headquartered in West Chicago, Illinois, the company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. For more information, visit www.titan-intl.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/titan-international-inc-to-announce-first-quarter-2026-financial-results-on-april-30-302737109.html

SOURCE Titan International, Inc.

Iran’s Crypto Toll Play on the Strait of Hormuz Just Sent Bitcoin Above $71K

Posted on April 8, 2026April 8, 2026 by [email protected]

A geopolitical flashpoint became a crypto catalyst on Wednesday morning when reports emerged that Iran is moving to charge oil tankers a $1-per-barrel toll for Strait of Hormuz passage — with payment demanded exclusively in cryptocurrency.

The news hit markets fast. Bitcoin surged past $72,700 before settling above $71,700, a gain of roughly 5% on the session. Solana jumped 7% and Ethereum climbed 8% before both pared their steepest gains. No specific cryptocurrency was designated for payment, which may have contributed to the broad-based rally across the majors.

The Strait of Hormuz is the world’s most consequential oil chokepoint. An estimated 20% of global petroleum supply transits through it daily. Tankers crossing the strait typically carry between 500,000 and 2 million barrels of crude, meaning a single passage could generate a toll ranging from $500,000 to $2 million — paid in digital assets.

Under the proposed framework, shipowners would be required to email Iranian authorities with a full cargo manifest. Iran would then determine the fee for safe passage. Vessels traveling empty would be permitted to cross at no charge. The approach essentially creates a state-sanctioned crypto revenue stream tied directly to one of the world’s most critical energy corridors.

The timing is significant. This development surfaces just a day after President Trump announced a conditional ceasefire with Iran, one that specifically required the immediate and safe reopening of the strait. Iran has been using attacks on vessels in and around the Persian Gulf as leverage in negotiations, and has repeatedly asserted sovereignty over the waterway as a core condition for any peace agreement.

Despite the ceasefire announcement, transit through the strait as of Wednesday morning remained minimal. Maritime intelligence data indicates no meaningful resumption of shipping traffic, and sources in the region expressed skepticism about the near-term stability of the situation. The sentiment shift may be moving faster than actual shipping behavior or insurance underwriting.

The crypto angle here is more than a headline grab. If Iran formalizes a system where sovereign passage fees are collected in digital assets, it represents one of the most significant real-world use cases for cryptocurrency in geopolitical history. It would also signal that sanctioned regimes are increasingly viewing crypto not just as a workaround for dollar-denominated financial systems, but as a legitimate transactional layer for international commerce — even state-enforced commerce.

For crypto investors, this cuts two ways. On one hand, institutional demand signals a meaningful maturation of the asset class. On the other, the association with a sanctioned government conducting what amounts to maritime extortion is the kind of regulatory ammunition that tends to accelerate oversight conversations in Washington.

Oil markets told the other side of the story Wednesday. Crude futures dropped more than 15%, reflecting the prospect of a reopened strait and normalized supply flows — a sharp divergence from crypto’s upward trajectory.

The Strait of Hormuz has long been the pressure valve of global energy markets. What’s new is that it may now be generating pressure on crypto markets too.

Release – MAIA Biotechnology Expects Recent $33 Million Capital Raise to Fully Fund Ongoing Pivotal Phase 3 Trial of Novel Telomere-Targeting Anticancer Therapy

Posted on April 8, 2026April 8, 2026 by [email protected]

Research News and Market Data on MAIA

April 08, 2026 9:00am EDT Download as PDF

Strong participation in recent $33 million common stock offering highlights investor confidence in late-stage clinical momentum and commercial potential

Statistical assessments point to high probability of technical success
in Phase 3 full approval trial

FDA granted Fast Track designation for dual mechanism therapy as a treatment for non-small cell lung cancer (NSCLC)

CHICAGO, April 08, 2026 (GLOBE NEWSWIRE) — MAIA Biotechnology, Inc. (NYSE American: MAIA) (“MAIA”, the “Company”), a clinical-stage biopharmaceutical company focused on developing targeted immunotherapies for cancer, today announced that net proceeds from its $33 million public offering of common stock in March 2026 are expected to fully fund the Company’s ongoing pivotal Phase 3 clinical trial of its lead investigational therapy, ateganosine, as a treatment for non-small cell lung cancer (NSCLC). Ateganosine is a dual mechanism therapy designed to break down telomere structure and function in cancer cells while inducing immune activation. The U.S. Food and Drug Administration (FDA) has granted Fast Track designation for the drug in third line (3L) NSCLC treatment.

“We are grateful for the support and confidence shown by the healthcare-dedicated investors and existing shareholders who participated in our recent offering. The $33 million raise is expected to complete the necessary funding for our pivotal Phase 3 trial through completion,” said Vlad Vitoc, M.D., Founder and Chief Executive Officer of MAIA

“Statistical assessments point to a high probability of technical success in the third-line setting if Phase 3 data is consistent with our Phase 2 trial results,” Dr. Vitoc continued. “Interim data from the Phase 3 trial, expected next year, may support a discussion with the FDA to present our case for early full commercial approval in third-line NSCLC.”

MAIA’s pivotal Phase 3 trial, THIO-104, evaluates the efficacy of ateganosine administered in sequence with a checkpoint inhibitor (CPI) in third-line NSCLC patients who are resistant to checkpoint inhibitors alone and chemotherapy. The global multicenter, open-label, pivotal Phase 3 trial is designed to provide a direct comparison to chemotherapy in a 1:1 randomization of up to 300 patients. Chemotherapy is the standard utilized treatment for third-line NSCLC patients.

About Ateganosine

Ateganosine (THIO, 6-thio-dG or 6-thio-2’-deoxyguanosine) is a first-in-class investigational telomere-targeting agent currently in clinical development to evaluate its activity in non-small cell lung cancer (NSCLC). Telomeres, along with the enzyme telomerase, play a fundamental role in the survival of cancer cells and their resistance to current therapies. The modified nucleotide 6-thio-2’-deoxyguanosine induces telomerase-dependent telomeric DNA modification, DNA damage responses, and selective cancer cell death. Ateganosine-damaged telomeric fragments accumulate in cytosolic micronuclei and activates both innate (cGAS/STING) and adaptive (T-cell) immune responses. The sequential treatment of ateganosine followed by PD-(L)1 inhibitors resulted in profound and persistent tumor regression in advanced, in vivo cancer models by induction of cancer type–specific immune memory. Ateganosine is presently developed as a second or later line of treatment for NSCLC for patients that have progressed beyond the standard-of-care regimen of existing checkpoint inhibitors.

About THIO-104 Phase 3 Clinical Trial

THIO-104 is a multicenter, open-label, randomized Phase 3 clinical trial, designed to evaluate ateganosine’s telomere-targeting anti-tumor activity when followed by PD-(L)1 inhibition in patients with advanced third-line NSCLC who previously did not respond or developed resistance to treatment regimens containing checkpoint inhibitor and/or chemotherapy and have progressed. The trial has two primary objectives: (1) to assess the clinical efficacy of ateganosine compared to investigator’s choice of chemotherapy, using median Overall Survival (OS) as the primary clinical endpoint (2) to evaluate the safety and tolerability of ateganosine in sequential combination with a checkpoint inhibitor. For more information on this Phase 3 trial, please visit ClinicalTrials.gov using the identifier NCT06908304.

About MAIA Biotechnology, Inc.

MAIA is a targeted therapy, immuno-oncology company focused on the development and commercialization of potential first-in-class drugs with novel mechanisms of action that are intended to meaningfully improve and extend the lives of people with cancer. Our lead program is ateganosine (THIO), a potential first-in-class cancer telomere targeting agent in clinical development for the treatment of NSCLC patients with telomerase-positive cancer cells. For more information, please visit www.maiabiotech.com.

Forward Looking Statements

MAIA cautions that all statements, other than statements of historical facts contained in this press release, are forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels or activity, performance or achievements to be materially different from those anticipated by such statements. The use of words such as “may,” “might,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “future,” “potential,” or “continue,” and other similar expressions are intended to identify forward looking statements. However, the absence of these words does not mean that statements are not forward-looking. For example, all statements we make regarding (i) the initiation, timing, cost, progress and results of our preclinical and clinical studies and our research and development programs, (ii) our ability to advance product candidates into, and successfully complete, clinical studies, (iii) the timing or likelihood of regulatory filings and approvals, (iv) our ability to develop, manufacture and commercialize our product candidates and to improve the manufacturing process, (v) the rate and degree of market acceptance of our product candidates, (vi) the size and growth potential of the markets for our product candidates and our ability to serve those markets, (vii) our expectations regarding our ability to obtain and maintain intellectual property protection for our product candidates and (viii) the funding status for our Phase 3 trial for ateganosine, are forward looking. All forward-looking statements are based on current estimates, assumptions and expectations by our management that, although we believe to be reasonable, are inherently uncertain. Any forward-looking statement expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and are subject to risks and uncertainties and other factors beyond our control that may cause actual results to differ materially from those expressed in any forward-looking statement. Any forward-looking statement speaks only as of the date on which it was made. We undertake 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. In this release, unless the context requires otherwise, “MAIA,” “Company,” “we,” “our,” and “us” refers to MAIA Biotechnology, Inc. and its subsidiaries.

Investor Relations Contact
+1 (872) 270-3518
[email protected]

Source: MAIA Biotechnology, Inc.

Released April 8, 2026

Release – Kratos Receives $446.8 Million Space Systems Command Contract for Resilient Missile Warning and Missile Tracking Ground Management & Integration (GMI)

Posted on April 8, 2026April 8, 2026 by [email protected]

Research News and Market Data on KTOS

April 8, 2026

PDF Version

Kratos led team will design, integrate and operate the ground system architecture for emerging MEO space-sensing constellations

SAN DIEGO, April 08, 2026 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a technology company in Defense, National Security and Global Markets, has been awarded an Other Transaction Agreement (OTA) with a total potential value of $446.8 million, contingent on the exercise of all options. Kratos will serve as the prime contractor supporting the U.S. Space Force’s Space Systems Command for the Ground Management and Integration (GMI) agreement on the Resilient Missile Warning and Tracking (MWT) program.

This program is a critical initiative to develop, deploy and sustain the ground infrastructure required to operate Resilient MWT satellites in Medium Earth Orbit (MEO).

The GMI agreement supports Space Force’s efforts to build and operate a resilient, integrated ground architecture capable of managing the Resilient MWT’s multi-orbit satellite constellation. The Resilient MWT system provides persistent detection, tracking and custody of advanced missile threats—especially hypersonic glide vehicles and maneuvering ballistic missiles. These capabilities are vital to enhancing missile defense and providing critical data to the warfighter.

Kratos will serve as the system integrator, leading a team including Northrop Grumman, Auria, ASRC Federal Systems Solutions and Rise8, to establish fully operational primary and backup mission operations capabilities. The program will unify legacy and next-generation ground assets into a single, scalable global network, ensuring connectivity with multiple space vehicle providers and the DoW’s Future Operationally Resilient Ground Evolution (FORGE) platform. This architecture will enable secure mission management, achieve full cyber accreditation and provide long-term sustainment, advancing a resilient ground architecture supporting current operational requirements and future threat environments.

“A globally distributed ground architecture is essential for integrating multiple satellites, providers and mission systems,” said Greg Caicedo, Senior Vice-President of Kratos Space, Training and Cyber Division. “With this program, Kratos will support launches of new MEO satellites and with OpenSpace integrated with the FORGE platform to provide a Ground Resource Manager functionality, ensuring interoperability across space vehicles from multiple manufacturers.”

Kratos OpenSpace is a family of solutions enabling the digital transformation of satellite ground to become a more dynamic and powerful part of the space network. OpenSpace is the first commercially available, fully orchestrated, software-defined ground system, allowing government agencies, commercial satellite operators, and service providers to adopt digital operations at their own pace and in ways that align with their mission needs and business models. For more information about the OpenSpace family visit: www.kratosspace.com/virtual-ground/platform.

“Programs like Resilient MWT require more than individual technologies. They require the engineering depth and operational experience to deliver integrated mission systems,” said Phil Carrai, President of Kratos Space, Training and Cyber Division. “Kratos has extensive experience engineering, integrating and sustaining resilient ground architectures for critical space and communications missions. Our long-standing investments in advanced space and communications technologies and mission-focused engineering capabilities are enabling us to take on programs of increasing scale and importance.”

Kratos’ GMI award underscores the company’s expanding role in strengthening critical space and national security infrastructure. As the premier integrated ground‑system provider for multi‑site, multi‑vendor, multi‑satellite operations, Kratos brings deep expertise that maximizes the value of GMI investments. The company supports multiple U.S. Government customers, including the Command and Control System‑Consolidated (CCS‑C) Sustainment and Resiliency (C‑SAR) contract with the U.S. Space Force’s Space Systems Command and the Space Development Agency’s Advanced Fire Control Ground Infrastructure (AFCGI), as well as commercial providers worldwide.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, advanced vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 28, 2025, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Cantrell
[email protected]

Investor Information:
877-934-4687
[email protected]

Source: Kratos Defense & Security Solutions, Inc.