Category: Technology

Release – Information Services Group Announces Fourth-Quarter and Full-Year 2025 Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ISG

3/5/2026

  • Reports fourth-quarter GAAP revenues of $61.2 million, at the top end of guidance and up 6% versus prior year
  • Reports fourth-quarter GAAP net income of $2.6 million, GAAP EPS of $0.05 and adjusted EPS of $0.08; Prior year GAAP results reflect a fourth-quarter net gain of $2.3 million from the previously disclosed sale of the firm’s automation unit on October 1, 2024
  • Reports fourth-quarter adjusted EBITDA of $8.1 million, up 24% versus prior year
  • Generates $5.1 million of cash from operations in fourth quarter
  • Delivers full-year GAAP revenues of $245 million; GAAP operating income of $17.8 million; GAAP net income of $9.3 million and GAAP EPS of $0.19; adjusted EBITDA of $32.2 million, adjusted net income of $16.5 million and adjusted EPS of $0.33
  • Declares first-quarter dividend of $0.045 per share, payable March 26, 2026, to shareholders of record as of March 20, 2026
  • Acquires AI readiness benchmarking and intelligence platform, the AI Maturity Index, in January 2026, part of broader AI acceleration strategy
  • Sets first-quarter guidance: revenues between $60.5 million and $61.5 million and adjusted EBITDA between $7.5 million and $8.5 million

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm, today announced financial results for the fourth quarter and full year ended December 31, 2025.

“ISG had a strong Q4 and an outstanding year, fueled by continuing client interest in our AI-powered transformation services,” said Michael P. Connors, chairman and CEO. “Fourth-quarter revenue growth was led by Europe, up 28 percent, and by recurring revenues, up 13 percent. From a profitability standpoint, adjusted EBITDA was up 24 percent, with adjusted EBITDA margins expanding nearly 200 basis points. For the full year, revenue growth was led by the Americas, up 11 percent, excluding 2024 automation results, and our adjusted EBITDA was up 28 percent, while cash from operations rose 46 percent, to $29 million, all versus prior year.”

Commenting on AI demand, Connors said, “Clients overall remain cautious in a still-uncertain macro environment but continue to invest in AI-related business transformation, cost optimization and insights to plan the journey ahead. In 2025, we served more than 350 clients with AI-focused research and advisory services, three times more than the prior year.”

More broadly speaking, Connors said, “Clients are demanding business outcomes, a reshaping of their partner ecosystems and broader capability. This plays to our strengths. ISG is well positioned with our proprietary data, research, platforms and on-the-ground expertise to continue delivering great ROI for our clients.”

AI Maturity Index Acquisition and AI Acceleration Strategy

In January 2026, ISG announced the acquisition of the AI Maturity Index, an AI readiness benchmarking and intelligence platform that allows clients to assess and track the AI readiness of their workforces on an individual and enterprise level and improve their employees’ ability to leverage AI technology. The ISG AI Maturity platform is already generating strong interest, ISG said, with an early pipeline of more than 30 clients.

The move is part of ISG’s broader AI acceleration strategy that includes the formation of an AI Acceleration Unit that brings an integrated, expert-led approach to helping clients rapidly scale AI.

ISG also is leveraging AI to improve the speed and efficiency of its proprietary client platforms, most notably ISG Tango™, the firm’s groundbreaking sourcing platform. More than $25 billion of sourcing contract value now flows through ISG Tango™, up more than three times from 2024.

Fourth-Quarter 2025 Results

Reported revenues for the fourth quarter were $61.2 million, up 6 percent from $57.8 million in the prior year. Currency translation positively impacted reported revenues by $1.3 million versus the prior year.

Revenues were $38.3 million in the Americas, up 1 percent on a reported basis. Revenues in Europe were $19.1 million, up 28 percent on a reported basis, and Asia Pacific revenues were $3.9 million, down 22 percent on a reported basis, all versus the prior year.

ISG reported fourth-quarter operating income of $5.1 million, compared with operating income of $0.2 million in the prior year. Reported fourth-quarter net income was $2.6 million, compared with net income of $3.0 million in the prior year. Fully diluted earnings per share were $0.05, compared with fully diluted earnings per share of $0.06 in the prior year.

During the fourth quarter of 2024, ISG recorded a $2.3 million net gain on the sale of its automation unit. Excluding this gain, net income and GAAP EPS would have been $0.7 million and $0.01 per share, respectively.

Adjusted net income (a non-GAAP measure defined below under “Non-GAAP Financial Measures”) for the fourth quarter of 2025 was $4.0 million, or $0.08 per share on a fully diluted basis, compared with adjusted net income of $3.0 million, or $0.06 per share on a fully diluted basis, in the prior year’s fourth quarter.

Fourth-quarter adjusted EBITDA (a non-GAAP measure defined below under “Non-GAAP Financial Measures”) was $8.1 million, up 24 percent from the prior-year fourth quarter. Adjusted EBITDA margin (a non-GAAP measure calculated by dividing adjusted EBITDA by reported revenues) was 13.2 percent, compared with 11.3 percent in the prior year.

Full-Year 2025 Results

Reported revenues for the full year were $244.7 million, down 1 percent versus the prior year. Excluding 2024 results from ISG’s automation unit, which the firm divested on October 1, 2024, revenues were up 7 percent for the full year of 2025.

Excluding 2024 automation results, revenues were $160.9 million in the Americas, up 11 percent, and up 1 percent on a reported basis. Revenues in Europe were $65.5 million, up 3 percent, excluding automation, and down 3 percent on a reported basis, and in Asia Pacific, revenues were $18.3 million, down 13 percent, all versus the prior year.

ISG reported full-year operating income of $17.8 million, compared with $5.8 million in the prior year. The firm also reported net income and fully diluted earnings per share of $9.3 million and $0.19, respectively, versus net income of $2.8 million and fully diluted earnings per share of $0.06 in the prior year. For the full year, ISG recorded a $1.7 million net gain on the sale of its automation unit. Excluding the gain on this sale, 2024 net income and GAAP EPS would have been $1.2 million and $0.02 per share, respectively.

Adjusted net income (a non-GAAP measure defined below under “Non-GAAP Financial Measures”) for the full year was $16.5 million, or $0.33 per share on a fully diluted basis, compared with adjusted net income of $10.0 million, or $0.20 per share on a fully diluted basis, in the prior year.

Full-year adjusted EBITDA (a non-GAAP measure defined below under “Non-GAAP Financial Measures”) was $32.2 million, up 28 percent from the prior year. Adjusted EBITDA margin (a non-GAAP measure calculated by dividing adjusted EBITDA by reported revenues) was 13.2 percent, compared with 10.2 percent in the prior year.

Other Financial and Operating Highlights

ISG generated $5.1 million of cash from operations in the fourth quarter and $29.0 million for the full year. The firm’s cash balance totaled $28.7 million at December 31, 2025, up 24 percent from the prior year.

During the fourth quarter, ISG paid dividends of $2.2 million and repurchased $2.3 million of shares.

2026 First-Quarter Revenue and Adjusted EBITDA Guidance

“As clients absorb the latest tariff and geopolitical news, and as the U.S. economy, in particular, continues to evolve during the first half, we expect clients to adjust and then accelerate their spending as the year progresses. For the first quarter, ISG is targeting revenues between $60.5 million and $61.5 million and adjusted EBITDA of between $7.5 million and $8.5 million, which will continue our year-over-year growth. We will continue to monitor the macroeconomic environment, including the impact of FX, inflation and other factors, and adjust our business plans accordingly,” Connors said.

Quarterly Dividend

The ISG Board of Directors declared a first-quarter dividend of $0.045 per share, payable on March 26, 2026, to shareholders of record as of March 20, 2026.

Conference Call

ISG has scheduled a call for 9 a.m., U.S. Eastern Time, March 6, 2026, to discuss the company’s fourth-quarter results. The call can be accessed by dialing +1 (800) 715-9871; or, for international callers, by dialing +1 (646) 307-1963. The access code is 6145572. A recording of the conference call will be accessible on ISG’s investor relations page for approximately four weeks following the call.

Forward-Looking Statements

This communication contains “forward-looking statements” which represent the current expectations and beliefs of management of ISG concerning future events and their potential effects. Statements contained herein including words such as “anticipate,” “believe,” “contemplate,” “plan,” “estimate,” “target,” “expect,” “intend,” “will,” “continue,” “should,” “may,” and other similar expressions, are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future results and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Those risks relate to inherent business, economic and competitive uncertainties and contingencies relating to the businesses of ISG and its subsidiaries including without limitation: (1) failure to secure new engagements or loss of important clients; (2) ability to hire and retain enough qualified employees to support operations; (3) ability to maintain or increase billing and utilization rates; (4) management of growth; (5) success of expansion internationally; (6) competition; (7) ability to move the product mix into higher margin businesses; (8) general political and social conditions such as war, political unrest and terrorism; (9) healthcare and benefit cost management; (10) ability to protect ISG and its subsidiaries’ intellectual property or data and the intellectual property or data of others; (11) currency fluctuations and exchange rate adjustments; (12) ability to successfully consummate or integrate strategic acquisitions; (13) outbreaks of diseases, including coronavirus, or similar public health threats or fear of such an event; (14) engagements may be terminated, delayed or reduced in scope by clients; (15) the effect of the divestiture of the automation unit on ISG’s relationships with its customers and suppliers and on its retained business generally; (16) the success of ISG’s focus on AI advisory and AI-powered platforms; (17) changes to trade policy, including new or increased tariffs and changing import/export regulations, and (18) potential employment-related claims. Certain of these and other applicable risks, cautionary statements and factors that could cause actual results to differ from ISG’s forward-looking statements are included in ISG’s filings with the U.S. Securities and Exchange Commission. ISG undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.

Non-GAAP Financial Measures

ISG reports all financial information required in accordance with U.S. generally accepted accounting principles (GAAP). In this release, ISG has presented both GAAP financial results as well as non-GAAP information for the three and twelve months ended December 31, 2025, and December 31, 2024. ISG believes that evaluating its ongoing operating results will be enhanced if it discloses certain non-GAAP information. These non-GAAP financial measures exclude non-cash and certain other special charges that many investors believe may obscure the user’s overall understanding of ISG’s current financial performance and ISG’s prospects for the future. ISG believes that these non-GAAP measures provide useful information to investors because they improve the comparability of the financial results between periods and provide for greater transparency of key measures used to evaluate the Company’s performance.

ISG provides adjusted EBITDA (defined as net income, plus interest, taxes, depreciation and amortization, foreign currency transaction gains/losses, non-cash stock compensation, interest accretion associated with contingent consideration, acquisition- and disposition-related costs, loss on disposal of assets, gain on sale of business, change in contingent consideration, and severance, integration and other expense), adjusted net income (defined as net income, plus amortization of intangible assets, non-cash stock compensation, foreign currency transaction gains/losses, interest accretion associated with contingent consideration, acquisition- and disposition-related costs, loss on disposal of assets, gain on sale of business, change in contingent consideration, and severance, integration and other expense on a tax-adjusted basis), adjusted net income per diluted share, adjusted EBITDA margin, and selected financial data on a constant currency basis which are non-GAAP measures that ISG believes provide useful information to both management and investors by excluding certain expenses and financial implications of foreign currency translations, which management believes are not indicative of ISG’s core operations. These non-GAAP measures are used by ISG to evaluate the Company’s business strategies and management’s performance.

We evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP financial measure, excludes the impact of year-over-year fluctuations in foreign currency exchange rates. We believe providing constant currency information provides valuable supplemental information regarding our results of operations, thereby facilitating period-to-period comparisons of our business performance and is consistent with how management evaluates the Company’s performance. We calculate constant currency percentages by converting our current and prior-periods local currency financial results using the same point in time exchange rates and then compare the adjusted current and prior period results. This calculation may differ from similarly titled measures used by others and, accordingly, the constant currency presentation is not meant to be a substitution for recorded amounts presented in conformity with GAAP, nor should such amounts be considered in isolation.

Management believes this information facilitates comparison of underlying results over time. Non-GAAP financial measures, when presented, are reconciled to the most closely applicable GAAP measure. Non-GAAP measures are provided as additional information and should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the forward-looking non-GAAP estimates contained herein to the corresponding GAAP measures is not being provided, due to the unreasonable efforts required to prepare it.

About ISG

ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data and research, in-depth knowledge and governance of provider ecosystems, and the expertise of its 1,500 professionals worldwide working together to help clients maximize the value of their technology investments.

View full release here.

Source: Information Services Group, Inc.

Anthropic-Pentagon Clash Puts AI Ethics — and Hype — Under the Small-Cap Spotlight

Posted on by slightbourne@noblecapitalmarkets.com

The escalating dispute between Anthropic and the U.S. Department of Defense is quickly becoming more than a policy debate. It’s a flashpoint for how artificial intelligence companies — public and private — balance rapid commercialization with ethical guardrails.

And for small-cap investors, the episode is a reminder that regulatory and reputational risk can reshape capital flows overnight.

Last week, the Trump administration ordered government agencies to stop using Anthropic’s chatbot, Claude, and labeled the company a supply chain risk after CEO Dario Amodei declined to loosen safeguards preventing use of its models in autonomous weapons and mass surveillance. Anthropic has indicated it plans to challenge the decision once formal notice is received.

The market reaction has been swift.

According to Sensor Tower, Claude surged past ChatGPT in U.S. app downloads over the weekend. Meanwhile, OpenAI faced consumer backlash after announcing a Pentagon agreement to replace Anthropic in classified environments. ChatGPT’s one-star reviews spiked sharply in Apple’s app store following the news, prompting CEO Sam Altman to acknowledge the rollout was mishandled.

The episode highlights a widening divide in AI strategy: aggressive government integration versus caution around high-stakes use cases.

But beneath the headlines lies a more structural issue — readiness.

Missy Cummings, director of the robotics and automation center at George Mason University and a former Navy fighter pilot, recently argued that generative AI systems should not control or guide weapons due to persistent reliability issues. Large language models, she noted, are prone to “hallucinations” and remain unsuitable for environments where errors could cost lives.

Anthropic’s leadership has echoed similar concerns, stating that frontier AI systems are not yet reliable enough to power fully autonomous weapons.

For investors, particularly in small- and mid-cap technology names, the debate underscores a key theme for 2026: execution risk tied to real-world deployment.

Government contracts can provide validation and revenue visibility. But they also introduce political exposure, regulatory scrutiny, and headline volatility. Private AI leaders like Anthropic and OpenAI may dominate public discourse, but publicly traded players — from Palantir (PLTR), which has longstanding defense ties, to Apple (AAPL), whose app ecosystem reflects consumer sentiment in real time — are often the ones absorbing market swings.

The situation also revives questions about what some critics have called the industry’s “hype cycle.” Years of bold claims around AI autonomy and decision-making capabilities helped accelerate defense adoption. Now, as policymakers confront the technology’s limitations, that enthusiasm is meeting institutional caution.

For small-cap investors, this dynamic matters.

Emerging AI infrastructure providers, cybersecurity firms, data analytics companies, and niche software developers frequently market defense or government pathways as long-term growth drivers. Yet this episode illustrates that capital access and contract durability can hinge on shifting ethical standards and public perception — not just technological performance.

It also reinforces a broader capital markets takeaway: reputational capital is financial capital.

Anthropic’s consumer download surge suggests ethical positioning can resonate with users. But legal challenges and lost government business could weigh on enterprise relationships. Conversely, OpenAI’s Pentagon alignment may strengthen federal revenue prospects while pressuring brand perception.

As AI migrates from consumer chatbots into mission-critical systems, readiness — technical, regulatory, and ethical — will increasingly define winners and laggards.

For small-cap investors, the lesson is clear: in emerging technologies, policy risk is no longer a side variable. It’s central to valuation.

RadNet Buys Gleamer, Building a Global Radiology AI Powerhouse

Posted on by slightbourne@noblecapitalmarkets.com

RadNet (NASDAQ: RDNT) is making a decisive move in healthcare AI. The Los Angeles-based outpatient imaging leader announced it has acquired Paris-based Gleamer SAS, integrating the business into its DeepHealth digital subsidiary. The all-cash deal, valued at up to €230 million including a post-closing milestone, positions DeepHealth as what the company describes as the largest provider of radiology clinical AI solutions worldwide.

For investors, the transaction underscores how artificial intelligence is shifting from pilot projects to scaled deployment across diagnostic imaging.

Gleamer brings more than 700 customer contracts across 44 countries and a cloud-first AI portfolio spanning musculoskeletal, breast, lung and neurologic applications. Its solutions include FDA-cleared and CE-marked products designed to support radiologists in screening, detection and workflow prioritization.

DeepHealth, RadNet’s digital health arm, already offers AI-enabled imaging tools across breast, chest, neuro, prostate and thyroid care. Combined, the companies report more than 2,700 customer contracts globally, a portfolio of 26 FDA-cleared and 22 CE-marked devices, and coverage across MR, CT, X-ray, mammography and ultrasound.

That breadth matters in a market where imaging volumes continue to rise while radiologist shortages persist worldwide.

RadNet CEO Dr. Howard Berger framed the deal around workflow automation—particularly in high-volume modalities like X-ray, ultrasound and mammography—where AI-enabled prioritization and draft reporting may help maintain access and efficiency.

Gleamer has operated under a SaaS model, generating annual recurring revenue (ARR) from subscription-based contracts. The company reported a compound annual ARR growth rate exceeding 90% from 2022 through 2025 and expects to reach approximately $30 million in ARR in 2026.

RadNet indicated that, on a combined basis, DeepHealth and Gleamer anticipate ARR approaching or exceeding $140 million by the end of 2026. ARR is a non-GAAP metric representing contracted recurring revenue and excludes one-time implementation and hardware sales.

For public market investors, recurring revenue visibility is increasingly central to valuation in health tech and AI-enabled platforms. The addition of Gleamer enhances DeepHealth’s cloud-native revenue base and expands its European footprint at a time when regulatory-cleared AI tools are gaining broader institutional adoption.

Beyond external sales, RadNet intends to deploy Gleamer’s AI capabilities across its own imaging network, which spans multiple U.S. states and performs millions of exams annually.

X-ray accounts for nearly 25% of RadNet’s imaging volume. The company expects AI-enabled triage and draft reporting tools to support productivity gains and workflow standardization, with deployment targeted by the third quarter of 2026.

Management has emphasized that benefits could include improved resource utilization and cost efficiencies. As with all integration efforts, realization of these outcomes depends on execution and adoption across clinical teams.

The acquisition arrives amid accelerating consolidation in healthcare AI, as imaging platforms seek both modality breadth and geographic reach. Hospitals and outpatient providers are increasingly evaluating enterprise-wide AI solutions rather than single-use tools.

By combining Gleamer’s automated reporting capabilities—already deployed in Europe—with DeepHealth’s imaging informatics platform, RadNet is aiming to deliver an integrated operating system approach across the radiology workflow.

Investors should view the transaction as part of a broader capital allocation strategy: pairing RadNet’s stable outpatient imaging cash flows with scalable digital health assets that carry higher growth profiles.

As AI moves from experimental deployments to embedded clinical infrastructure, scale, regulatory clearance and recurring revenue models are becoming competitive differentiators. RadNet’s latest acquisition suggests the next phase of radiology AI will be defined less by innovation alone—and more by integration at enterprise scale.

Codere Online (CDRO) – Favorable Operating Momentum

Posted on by slightbourne@noblecapitalmarkets.com


Monday, March 02, 2026

Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile application. Codere currently operates in its core markets of Spain, Italy, Mexico, Colombia, Panama and the City of Buenos Aires (Argentina). Codere Online’s online business is complemented by Codere Group’s physical presence throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence in the region.

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.

Solid Q4 Results. The company reported Q4 revenue of €60.7 million and adj. EBITDA of €6.7 million, both of which surpassed our estimates of €57.0 million and €3.0 million, respectively. Notably, the company benefited from strong user activity in the quarter, both in monthly active users and first time deposits (FTD), as well as an improved cost per acquisition (CPA).

Favorable fundamentals. Notably, in Q4, the company benefited from strong activity in Mexico, which generated revenue of €32.8 million, up 31% YoY. The favorable performance in Mexico was supported by 99,000 average monthly users, up 43% YoY. On a consolidated basis, the company averaged 177,000 monthly active users, up 20% YoY. Furthermore, the company benefited from efficient CPA spend of €166, with 89,000 FTD recorded in Q4, which is up 22% over the prior year period.


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OpenAI Lands $840 Billion Valuation as Amazon, Nvidia, SoftBank Double Down on AI Arms Race

Posted on by slightbourne@noblecapitalmarkets.com

OpenAI has secured one of the largest private capital raises in history, reaching an $840 billion valuation as Amazon, Nvidia, and SoftBank anchor a massive $110 billion funding round.

The blockbuster raise underscores that, despite 2026’s volatility in technology stocks and growing talk of an AI valuation bubble, capital formation in artificial intelligence remains robust. For investors, the message is clear: the AI infrastructure race is accelerating, not slowing.

According to Reuters, SoftBank committed $30 billion in the round, Nvidia invested $30 billion, and Amazon pledged $50 billion. Additional investors are expected to participate as the financing progresses. The funding comes ahead of OpenAI’s anticipated mega-IPO later this year, with Wall Street expecting further capital raises before a public debut.

Compute Is the New Oil

The capital injection is designed primarily to secure advanced chips and computing infrastructure.

OpenAI said it will deploy Nvidia’s latest Rubin systems, representing five gigawatts of computing capacity — enough energy to power millions of U.S. households. That scale highlights a defining theme of the AI cycle: frontier models now require industrial-level energy and hardware commitments.

For Nvidia (NVDA), the $30 billion investment deepens its financial ties to one of its largest customers. However, shareholders have recently pressured the chipmaker over its decision to reinvest heavily into the AI ecosystem rather than prioritize capital returns.

The interdependence has also revived concerns about “circular financing,” in which companies invest in key customers while simultaneously securing supply agreements. Critics argue such structures can blur the line between organic demand and strategically supported revenue.

Amazon Expands Strategic AI Footprint

Amazon (AMZN) is pairing capital with infrastructure.

Alongside its $50 billion commitment — beginning with an initial $15 billion investment — OpenAI will utilize two gigawatts of computing capacity powered by Amazon’s proprietary Trainium AI chips. The companies are also expanding a previously signed $38 billion cloud agreement, with OpenAI planning to spend an additional $100 billion on Amazon Web Services over eight years.

AWS will become the exclusive third-party cloud provider for OpenAI Frontier, the company’s enterprise AI platform for building and running agents. Importantly, OpenAI’s relationship with Microsoft remains intact, with Azure continuing as the exclusive cloud provider for its APIs.

The multi-cloud, multi-chip strategy reflects how hyperscalers are competing not just for AI workloads, but for long-term ecosystem control.

Competition Is Intensifying

The raise comes as Alphabet’s Google strengthens its AI position following the launch of Gemini 3, and as Anthropic continues to gain traction in enterprise AI applications. OpenAI, which has yet to turn a profit, is reportedly targeting approximately $600 billion in total compute spending through 2030.

At the same time, technology stocks have faced sharp declines in 2026 as investors question whether AI investments will generate returns sufficient to justify soaring valuations.

Still, OpenAI’s scale is formidable. The company reports more than 900 million weekly active users for ChatGPT and over 50 million consumer subscribers, with early 2026 pacing as its strongest period for new subscriber growth.

Why It Matters for Investors

This deal reinforces several market themes:

  • AI capital intensity is rising dramatically.
  • Infrastructure partnerships are becoming equity-linked.
  • Hyperscalers are competing for exclusive compute relationships.
  • Pre-IPO valuations are stretching toward trillion-dollar territory.

Whether these commitments ultimately deliver sustainable returns remains a key question for public markets. But for now, the AI capital formation cycle remains firmly in expansion mode.

Nvidia Stock Drops Despite Strong Earnings as AI Spending Questions Grow

Posted on by slightbourne@noblecapitalmarkets.com

Nvidia delivered another quarter of eye-catching growth. Investors still found reasons to sell. Shares of the AI chip leader fell as much as 5.6% Thursday after its fiscal first-quarter revenue forecast, while ahead of average Wall Street estimates, failed to ease mounting concerns about how long the artificial intelligence spending boom can last. The decline marked the stock’s sharpest intraday drop in three months.

On paper, the results were hard to fault. Nvidia projected fiscal first-quarter revenue of about $78 billion, topping the average analyst estimate of $72.8 billion, though some forecasts had climbed closer to $80 billion in recent weeks. For the fiscal fourth quarter, revenue surged 73% to $68.1 billion, beating expectations. Adjusted earnings of $1.62 per share and gross margins of 75.2% also edged past consensus estimates.

The company’s data center division — which includes its AI accelerators and networking products — generated $62.3 billion in quarterly revenue, above projections. That business has become the centerpiece of Nvidia’s growth story as hyperscale cloud providers and enterprises race to build AI infrastructure.

Other segments were softer. Gaming revenue of $3.73 billion and automotive revenue of $604 million both trailed analyst expectations. Ongoing memory supply constraints have weighed on certain product lines, highlighting that even Nvidia is not immune to broader semiconductor supply dynamics.

The market reaction underscores a key shift: Expectations are now extraordinarily high. After explosive gains over the past two years tied to generative AI demand, investors are increasingly focused on sustainability rather than acceleration.

CEO Jensen Huang pushed back against fears of an AI bubble during the earnings call, arguing that customers are already generating returns from their AI investments. According to Huang, expanding compute capacity directly supports revenue growth for Nvidia’s clients, reinforcing the case for continued infrastructure buildouts.

Still, questions remain. Nvidia disclosed $95.2 billion in purchase obligations, up sharply from $16.1 billion a year earlier. While those commitments reflect efforts to secure supply and meet anticipated demand — with shipments extending into calendar 2027 — they also raise the stakes if capital spending slows.

Geopolitical uncertainty adds another layer. The company has received limited U.S. government licenses to ship certain processors to China, but data center revenue from the country remains excluded from guidance. Tariffs and inspection requirements create additional friction in an already complex global supply chain.

At the same time, Nvidia and its competitors are announcing large, long-term agreements with major customers to lock in computing capacity. Nvidia recently disclosed that Meta Platforms plans to deploy “millions” of its processors in the coming years, while Advanced Micro Devices announced its own multibillion-dollar AI infrastructure deal. These agreements are designed to demonstrate durable demand, though some observers caution that increasingly intertwined supplier-customer relationships can complicate traditional demand signals.

For investors, Nvidia’s quarter reflects a broader capital markets dynamic heading into 2026. Growth is still robust, but markets are scrutinizing visibility, balance sheet commitments, and the durability of capital expenditures more closely.

The AI buildout remains one of the most significant investment cycles in technology history. Nvidia’s latest results suggest momentum is intact. The stock’s reaction shows that confidence in how long it lasts is now the real debate.

Google Updates Viral AI Image Tool With Faster, Smarter Nano Banana 2

Posted on by slightbourne@noblecapitalmarkets.com

Google is doubling down on generative AI with the launch of Nano Banana 2, the latest version of its viral AI image generator. The update, announced Thursday, is designed to make the tool faster, more precise and better at rendering text — a key improvement for use cases such as marketing mockups, greeting cards and branded visuals. The rollout underscores how aggressively large technology platforms are iterating in the increasingly competitive AI image and video market.

Shares of Alphabet traded lower alongside the broader tech market, but the Nano Banana refresh highlights the company’s continued push to integrate generative AI deeper into its Gemini ecosystem.

Nano Banana first launched in August and quickly gained traction online as users shared AI-generated images across social platforms. Google followed with Nano Banana Pro in November, built on Gemini 3 Pro, targeting higher-fidelity and more accuracy-sensitive use cases.

Nano Banana 2 is now positioned as the speed-optimized successor.

According to Google, the new model incorporates “advanced world knowledge,” pulling real-time information from Gemini to produce more accurate visual renderings. The company emphasized three primary upgrades: faster generation, improved instruction-following and more precise text rendering inside images — an area where AI image models have historically struggled.

While Nano Banana Pro will remain available for high-fidelity tasks requiring maximum factual precision, Nano Banana 2 is being positioned for rapid creation and integrated image-search grounding. The new version will replace its predecessor across Gemini’s Fast, Thinking and Pro tiers.

The move comes as AI image and video tools are becoming mainstream consumer products. Users can now generate increasingly sophisticated visuals from simple text prompts, blurring the line between professional and consumer-grade creative tools.

Competition in the space is intensifying.

OpenAI launched its video-generation model Sora in 2024, drawing massive demand. Adobe has continued expanding Firefly, integrating generative AI across its creative software suite. ByteDance has also introduced its Seedance video-generation tool, though it has faced legal scrutiny from major studios over alleged intellectual property violations.

The rapid adoption of AI creative tools has also fueled debate around copyright, training data and the protection of original content. Media and entertainment companies have raised concerns that generative models may infringe on protected works, increasing regulatory and legal uncertainty across the sector.

For investors, Google’s Nano Banana 2 rollout highlights a broader capital allocation theme in 2026: speed of iteration is becoming a competitive advantage in AI.

Large platforms are not only investing heavily in infrastructure — such as GPUs and data centers — but are also racing to deliver user-facing AI products that drive engagement, subscription upgrades and enterprise adoption.

The generative AI market is still in its early innings. However, with major players rolling out new versions in rapid succession, product cycles are shortening, and differentiation is increasingly tied to performance, reliability and integration with broader ecosystems.

Nano Banana 2 may be an incremental upgrade. But in today’s AI arms race, incremental improvements — delivered quickly — can shape market leadership.

Release – Perfect Corp. Reports Unaudited Financial Results for the Three Months and the Full Year Ended December 31, 2025

Posted on by aweinsoff@channelchek.com

Research News and Market Data on PERF

February 24, 2026

NEW YORK–(BUSINESS WIRE)– Perfect Corp. (NYSE: PERF) (“Perfect” or the “Company”), a leading artificial intelligence (“AI”) company offering AI and augmented reality (“AR”) powered solutions to beauty, fashion, photo and video creative industries, today announced its unaudited financial results for the three months and the full year ended December 31, 2025.

Financial Results for the Three Months Ended December 31, 2025

Revenue

Total revenue was $18.1 million for the three months ended December 31, 2025, compared to $15.9 million in the same period of 2024, an increase of 14.2%. The increase was primarily due to strong growth momentum in the revenue of mobile app and web services subscriptions.

  • AI- and AR- cloud solutions and subscription revenue was $16.4 million for the three months ended December 31, 2025, compared to $15.1 million in the same period of 2024, an increase of 8.7%. The increase was driven by the continued revenue growth of YouCam mobile apps and web services subscriptions, the continued popularity among consumers of Generative AI technologies and AI editing features for photos and videos, and the stable demand for the Company’s online virtual product try-on solutions from brand customers.
  • Licensing revenue was $0.6 million for the three months ended December 31, 2025, compared to $0.5 million in the same period of 2024, an increase of 8.0%.
  • Others revenue was $1.2 million for the three months ended December 31, 2025, compared to $0.3 million in the same period of 2024, an increase of 286.1%. The increase was driven by the growth of virtual points purchased and consumed by end users. Virtual points are used for AI-powered services available on YouCam mobile apps and web services.

Gross Profit

Gross profit was $14.6 million for the three months ended December 31, 2025, compared with $11.8 million in the same period of 2024, an increase of 24.1%. Gross margin was 80.5% for the three months ended December 31, 2025, up from 74.1% in the same period of 2024. The increase in gross margin during this quarter was primarily due to the increased operational efficiency resulting from the ongoing realignment of engineering professionals as we continue to transition from customization of software toward more standardized AI solutions for our customer base.

Total Operating Expenses

Total operating expenses were $15.2 million for the three months ended December 31, 2025, compared with $12.2 million in the same period of 2024, an increase of 24.1%. The increase was primarily due to increases in research and development expenses and sales and marketing expenses, which were partially offset by a decrease in general and administrative expenses in the fourth quarter of 2025.

  • Sales and marketing expenses were $7.7 million for the three months ended December 31, 2025, compared to $6.9 million during the same period of 2024, an increase of 11.4%. This increase was primarily due to an increase in marketing events and advertising expenses related to our mobile apps and web services subscription.
  • Research and development expenses were $3.9 million for the three months ended December 31, 2025, compared to $2.8 million during the same period of 2024, an increase of 39.6%. The increase was primarily due to an increase in R&D headcount and related personnel costs including those arising from the acquisition of Wannaby Inc. (“Wannaby”), which was completed in January 2025.
  • General and administrative expenses were $1.5 million for the three months ended December 31, 2025, compared to $1.8 million during the same period of 2024, a decrease of 11.9%. The decrease was primarily due to reduced corporate insurance premium and external professional service fees.
  • Impairment loss on goodwill was $2.0 million for the three months ended December 31, 2025. No such impairment was recorded in the same period of 2024. This non-cash item increase was primarily due to the recognition of an impairment loss on goodwill arising from the acquisition of Wannaby in January 2025.

Operating Loss

Total operating loss was $0.6 million for the three months ended December 31, 2025, compared with an operating loss of $0.5 million in the same period of 2024, representing an increase of $0.1 million. The increase in operating loss was primarily driven by the recognition of an impairment loss of $2.0 million relating to goodwill arising from the acquisition of Wannaby in 2025.

Net Income

Net income was $0.1 million for the three months ended December 31, 2025, compared to $1.1 million during the same period of 2024, a decrease of 94.2%. The decrease in net income was primarily due to the recognition of an impairment loss of $2.0 million relating to goodwill arising from the acquisition of Wannaby in 2025 and the lower interest income resulting from a decline in interest rates.

Operating Cash Flow

Operating cash flow was $2.6 million for the three months ended December 31, 2025, compared to $3.3 million in the same period of 2024, a decrease of 21.6%.

Financial Results for the Year Ended December 31, 2025

Revenue

Total revenue was $69.2 million for the year ended December 31, 2025, compared to $60.2 million in the same period of 2024, an increase of 14.9%.

  • AI- and AR- cloud solutions and subscription revenue was $61.1 million for the year ended December 31, 2025, compared to $53.8 million in the same period of 2024, an increase of 13.5%. The increase was driven by the continued revenue growth of YouCam mobile apps and web services subscriptions.
  • Licensing revenue was $5.3 million for the year ended December 31, 2025, compared to $5.2 million in the same period of 2024, an increase of 1.7%.
  • Others revenue was $2.8 million for the year ended December 31, 2025, compared to $1.2 million in the same period of 2024, an increase of 133.8%. The increase was primarily driven by the growth of virtual points purchased and consumed by end users. Virtual points are used for AI-powered services available on YouCam mobile apps and web services.

Gross Profit

Gross profit was $53.5 million for the year ended December 31, 2025, compared with $46.9 million in the same period of 2024, an increase of 14.0%. Gross margin was 77.4% for the year ended December 31, 2025, a slight decrease compared to 78.0% in the same period of 2024.

Total Operating Expenses

Total operating expenses were $55.3 million for the year ended December 31, 2025, compared with $50.1 million in the same period of 2024, an increase of 10.3%. The increase was primarily due to increases in research and development expenses and sales and marketing expenses, which were partially offset by a decrease in general and administrative expenses during the same period.

  • Sales and marketing expenses were $30.8 million for the year ended December 31, 2025, compared to $28.2 million during the same period of 2024, an increase of 9.2%.
  • Research and development expenses were $15.4 million for the year ended December 31, 2025, compared to $12.0 million during the same period of 2024, an increase of 28.4%.
  • General and administrative expenses were $7.0 million for the year ended December 31, 2025, compared to $8.5 million during the same period of 2024, a decrease of 17.7%.
  • Impairment loss on goodwill was $2.0 million for the year ended December 31, 2025. No such impairment was recorded in the same period of 2024. This non-cash item increase was driven by the recognition of an impairment loss on goodwill arising from the acquisition of Wannaby in 2025.

Operating Loss

Total operating loss was $1.7 million for the year ended December 31, 2025, compared with an operating loss of $3.1 million in the same period of 2024, a decrease of $1.4 million. The decrease in operating loss was primarily driven by higher revenue and gross profit, with operating expenses growing at a more moderate pace, which was partially offset by recognition of an impairment loss of $2.0 million on goodwill arising from the acquisition of Wannaby in 2025.

Net Income

Net income was $4.6 million for the year ended December 31, 2025, compared to $5.0 million during the same period of 2024, a decrease of 7.5%.

Operating Cash Flow

Operating cash flow was $13.3 million for the year ended December 31, 2025, compared to $13.0 million in the same period of 2024, an increase of 2.3%. The Company continues to invest in growth while maintaining a healthy cash flow to support business operations underscoring the Company’s operational health and sustainability.

Capital Resource

As of December 31, 2025, the Company’s cash and cash equivalents remained stable at $126.0 million (or $172.4 million when including 6-month time deposits of $36.3 million and US Treasuries of $10.2 million, which are classified as current and non-current financial assets at amortized cost under IFRS, respectively), compared to $127.1 million (or $165.9 million when including time deposits and money market funds) as of December 31, 2024.

Key Business Metrics

  • The number of active subscribers for the Company’s YouCam mobile apps and web services was 908,000 as of December 31, 2025, compared to over 946,000 as of September 30, 2025, a decrease of 4.0%. This decline was a result of the mobile app subscription plan’s average selling price increase initiative introduced in early 2025, which strategically prioritized higher revenue per user and long-term monetization efficiency over short-term volume growth.
  • As of December 31, 2025, the Company’s cumulative customer base included 859 brand clients, with over 982,000 digital stock keeping units (“SKUs”) for makeup, haircare, skincare, shoes, bags, eyewear, watches and jewelry products, compared to 842 brand clients and over 953,000 digital SKUs as of September 30, 2025. The number of Key Customers 1 of the Company as of December 31, 2025 was 135 compared to 142 as of September 30, 2025. The decline in the number of Key Customers was primarily due to certain customers being downgraded as a result of lower spending during the period.
____________________
1“Key Customers” refers to the Company’s brand customers who contributed revenue of more than $50,000 in the trailing 12 months ended on the measurement date.

CEO Remarks and Business Outlook for 2026

Ms. Alice H. Chang, Founder, Chairwoman, and Chief Executive Officer of Perfect Corp., commented, “Perfect Corp. closed 2025 on a strong note, exceeding our full-year guidance and demonstrating the strength of our execution. Our results for the year were driven primarily by continued growth in our B2C mobile apps and web service subscriber base, reflecting strong demand from individual beauty enthusiasts and consumers who value personalization, performance, and the ability to create customized content powered by generative AI. Our sustained focus on AI remains a core driver of innovation across the business, and this momentum positions us well as we enter the next phase of growth, with an increased focus on Agentic AI and API-based solutions.

“We continue to invest in the development of new products and services, including Generative AI beauty solutions, while driving greater operational efficiencies across the organization. This disciplined execution delivered strong revenue growth, a meaningful improvement in company operation, reduction of operating loss, and sustained cash flow generation. As a result, we ended 2025 with a strong cash position, providing the flexibility to invest strategically and support our long-term growth objectives. While the Company reported an operating loss for the period, this was primarily driven by an impairment loss of goodwill charge related to the acquisition of Wannaby. Excluding this non-cash item, the Company would have generated operating income for the fourth quarter and full year of 2025. Perfect Corp. will continue to work toward operating income under IFRS reporting standards in the near term, reflecting the scalability and discipline of its business model. Reaching this milestone would mark a pivotal moment in the Company’s journey, validating years of investment in platform development, AI innovation, and go-to-market execution.

“Our B2C app and web subscription business continues to be the primary driver of growth in 2025, with increases in both revenue per user and user engagement following the price adjustment implemented last year. While subscriber churn was modestly higher, we are seeing an increase in demand for AI-driven image and video editing and creation, reflecting a continued shift toward creativity and personalization powered by AI. Building on this momentum, we plan to introduce additional generative AI capabilities—such as more personalized interactions with our AI Agent and expanded video-mode support—further enhancing the functionality and value of our apps. Our YouCam app suite continues to set the standard for AI-powered creativity and self-expression, offering some of the most popular features in the market, including face reshaping, wrinkle removal, image-to-video, text-to-image, and image-to-image editing and creation. Central to these capabilities is YouCam’s AI Agent, powered by third party large language models (LLMs), which enables users to enhance and edit photos, generate videos, or create AI images simply from a text prompt. Together, these tools deliver a seamless, intelligent, and highly personalized experience that empowers users to express themselves in entirely new ways.

“Perfect’s Beauty AI Agent goes beyond a traditional LLM application by adding a purpose-built intelligence layer on top of the core model. Rather than relying solely on prompt engineering and linear processing, we apply context engineering to modularize inputs, classify intent, and route tasks through parallel sub-agents—resulting in faster response times, higher precision, and reduced hallucination risk. By combining Retrieval-Augmented Generation (RAG) with precision engineering, our agent doesn’t just talk; it can see, score, and recommend with proven accuracy across product virtual try-ons and skin analysis use cases. This architecture positions Perfect Corp. as a Beauty AI infrastructure, delivered through enterprise-grade Widgets, Software Development Kits (SDKs), and Application Programming Interfaces (APIs), and designed with brand safety, governance, and auditability at its core.

“As previously mentioned, our API business is steadily taking shape across multiple growth vectors. Since 2025, Perfect Corp. has built a comprehensive API suite supporting beauty, skin, jewelry, fashion, shoes and apparel industries. Firstly, our agency strategy allows us to act as a force multiplier by embedding our API-driven solutions directly into agency workflows, enabling faster deployment and broader reach. Secondly, we are expanding into new verticals, including the medical and dermatology segments, where our Skin AI technology enhances patient engagement through advanced visualization and personalized experiences. We are also extending our visual commerce capabilities beyond beauty, using virtual try-on to elevate product visualization across categories such as jewelry, shoes, watches, hair, and accessories, further diversifying our addressable market and long-term growth potential.

“Looking ahead to 2026, we see a strong outlook for our B2C apps and web service subscription business, while the B2B enterprise segment is expected to remain more cautious, with limited near-term growth. Against this backdrop, we are continuing our evolution from a tactical service provider to a strategic technology partner, focused on delivering durable, long-term value for our customers. What began as virtual try-on capabilities has expanded into a comprehensive visual commerce enablement platform, powered by Generative AI and an API-first architecture that integrates seamlessly into our partners’ ecosystems. At the same time, we are progressing beyond siloed point solutions toward a unified AI agent capable of operating across multiple roles—delivering a more intelligent, scalable, and impactful omni-solution for both consumers and brands.”

Business Outlook for 2026

Driven by continued revenue growth in both YouCam mobile apps and web service subscriptions, along with sustained demand for our enterprise solutions, the Company expects the full year 2026 total revenue to increase by approximately 10% with a range of plus or minus 2% compared to full year 2025. This forecast is based on the Company’s current assessment of the market and operational conditions, and that these factors are subject to change.

About Perfect Corp.

Founded in 2015, Perfect Corp. is a leading AI company offering self-developed AI- and AR- powered solutions dedicated to transforming the world with digital tech innovations that make your virtual world beautiful. On Perfect’s direct consumer business side, Perfect operates a family of YouCam consumer apps and web-editing services for photo, video and camera users, centered on unleashing creativity with AI-driven features for creation, beautification and enhancement. On Perfect’s enterprise business side, Perfect empowers major beauty, skincare, fashion, jewelry, and watch brands and retailers by supplying them with omnichannel shopping experiences through AR product try-ons and AI-powered skin diagnostics. With cutting-edge technologies such as Generative AI, real-time facial and hand 3D AR rendering and cloud solutions, Perfect enables a personalized, enjoyable, and engaging shopping journey and helps brands elevate customer engagement, increase conversion rates, and propel sales growth. Throughout this journey, Perfect maintains its unwavering commitment to environmental sustainability and fulfilling social responsibilities. For more information, visit https://ir.perfectcorp.com/.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, or the Exchange Act, that are based on beliefs and assumptions and on information currently available to Perfect. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. These statements are based on Perfect’s reasonable expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Perfect’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Perfect to predict these events or how they may affect Perfect. In addition, risks and uncertainties are described in Perfect’s filings with the Securities and Exchange Commission. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Perfect cannot assure you that the forward-looking statements in this communication will prove to be accurate. There may be additional risks that Perfect presently does not know or that Perfect currently does not believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Perfect, its directors, officers or employees or any other person that Perfect will achieve its objectives and plans in any specified time frame, or at all. Except as required by applicable law, Perfect does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date of this communication. You should, therefore, not rely on these forward-looking statements as representing the views of Perfect as of any date subsequent to the date of this communication.

View full release here.

Investor Relations Contact
Investor Relations, Perfect Corp.
Email: Investor_Relations@PerfectCorp.com

Source: Perfect Corp.

Release – SKYX Provides Corporate Update including New Product Launches, NVIDIA Collaboration, and $29 Million in Recent Investments from Fundamental Institutions

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SKYX

February 19, 2026 10:00 ET  | Source: SKYX Platforms Corp.

SKYX Announced Collaboration with NVIDIA AI Ecosystem Connect Program and Expects to Grow its Collaboration with NVIDIA into its Existing and Future Smart Home Projects

SKYX Announced Launch of its Patented Advanced SKYFAN and Turbo Heater to U.S. Leading Retailer Home Depot Including a New SkyPlug Branding Page on Homedepot.com

Additionally, SKYX has Recently Announced Launches of its Turbo Heater Fan at U.S. leading Retailers Target, Walmart, Lowe’s and on its E-commerce Platform with 60 Websites

Company Expects to Continue its Significant Growth with its SKYFAN & Turbo Heater in 2026 to Advance its Path to Cash-Flow Positive

SKYX Revenues Increased for 7 Consecutive Comparable Quarters from Q1 2024 through Q3 2025 and Expects to Continue its Quarterly Growth and Anticipates Securing Additional Significant Business Opportunities on Several Fronts During 2026

SKYX is Expected to Supply its Advanced and Smart Home Technologies to Upcoming and Future Key Projects in the U.S. and Globally including a North Carolina Smart Home Community, Austin Texas, San Antonio Texas, Miami Florida New $4 Billion Smart City, Saudi Arabia, and Egypt Among Others

SKYX is Expected to Deploy Over 1 million Units of its Advanced and Smart Home Plug & Play Technologies During the Course of these Projects

SKYX Continues to Grow its Market Penetration and Expects to Deploy over 100,000 of its Products into Homes/Units by the end of 2026 through Retail and Pro Segments

SKYX’s Safety Code Standardization Team is Continuing its Progress Towards its Goal of a Safety Mandatory Standardization in Homes and Buildings of its Ceiling Outlet/Receptacle Technology

MIAMI, Feb. 19, 2026 (GLOBE NEWSWIRE) — SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive smart home platform technology company with over 100 pending and issued patents globally and 60 lighting and home décor websites, with a mission to make homes and buildings become safe and smart as the new standard, today provides a corporate update.

Highlights, Recent and Future Events

  • Since reporting $13 million in total cash, cash equivalents, restricted cash, and receivables as of September 30, 2025, the Company has raised over $33 million in cash from fundamental institutions and existing investors, with a $25 million investment from one fundamental institution at $2.50 per share in straight common with no warrants. All investments were made with no warrants.
  • In light of its strengthened balance sheet following recent capital raises, management believes the Company is well capitalized to execute its growth initiatives while progressing toward sustained cash-flow generation and profitability.
  • Company has extended and converted $13.5 million in notes coming due with maturity out to 5 years until 2030.
  • SKYX will be launching a new AI driven software for its e-commerce platform of 60 websites, expected to increase its conversion rate and sales up to 30%.
  • SKYX has successfully demonstrated its technology during a Marriott Hotel renovation and expects to grow its hotel segment during 2026.
  • Marriott Hotel chain owner, The Shaner Group, led a $16.5 million round. The Shaner Group is an owner and developer of more than 70 hotels worldwide.
  • SKYX revenues increased for 7 prior period comparable quarters from Q1 2024 through Q3 2025 and are expected to continue to grow.
  • Company is expecting to secure additional significant business opportunities in 2026.
  • SKYX continues its growth and expects to deploy over 100,000 of its products into homes/units during 2026 through retail and pro segments.
  • SKYX’s technologies expansion provides additional opportunities for future recurring revenues through interchangeability, upgrades, AI services, monitoring, subscriptions, and more.
  • The Company secured U.S. and global strategic manufacturing partnerships with premier manufacturers including in the U.S., Vietnam, Taiwan, China, and Cambodia.

Safety Standardization Mandatory Code / Insurance Specification and Recommendation:

  • SKYX’s Safety Code Standardization Team is receiving support from a new significant prominent leader with its government safety agency’s process for a safety mandatory standardization of its electrical ceiling outlet/receptacle technology.
  • SKYX’s code team is led by industry veterans Mark Earley, former head of the National Electrical Code (NEC), and Eric Jacobson, former President and CEO of the American Lighting Association (ALA). The Company’s safety Code Standardization team believes it will garner assistance from additional safety organizations with its code mandatory safety standardization efforts based on the product’s significant safety aspects. Mr. Earley and Mr. Jacobson were instrumental in numerous code and safety changes in both the electrical and lighting industries. Both strongly believe that, considering the Company’s standardization progress including its product specification approval voting for by ANSI / NEMA (American National Standardization Institute / National Electrical Manufacturers Association) and being voted into 10 segments in the NEC Code Book, it has met the necessary safety conditions for becoming a ceiling safety standardization requirement for homes and buildings.
  • With respect to insurance companies, the Company strongly believes its products can save insurance companies many billions of dollars annually by reducing fires, ladder falls, and electrocutions among other things. Management expects that once it completes an entire range and variations of its safe advanced plug & play products it will start being recommended by insurance companies.

About SKYX Platforms Corp.

  • As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.
  • SKYX’s technologies provide opportunities for recurring revenues through interchangeability, upgrades, AI services monitoring, and subscriptions. Company is focused on the “Razor & Blades” model and its product range includes its advanced ceiling electrical outlet (Razor) and its advance and smart home plug & play products (Blades) including its advance and smart home plug & play platform products, lighting, recessed lights, down lights, EXIT signs, emergency lights, ceiling fans, chandeliers/pendants, holiday/kids/themes lights, indoor/outdoor wall lights and others. Company’s plug & play technology enables an installation of lighting, fans, and smart home products in high-rise buildings and hotels within days rather than months.
  • Company’s total addressable market (TAM) in the U.S. is roughly $500 billion with over 4.2 billion ceiling applications in the U.S. alone. Expected revenue streams from retail and professional segments include product sales, royalties, licensing, subscription, monitoring, and sale of global country rights.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with First-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions, including recent measures adopted by the federal government, on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:

Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com

Hims & Hers to Acquire Eucalyptus in $1.15 Billion Deal to Expand Global Digital Health Footprint

Posted on by slightbourne@noblecapitalmarkets.com

Hims & Hers Health, Inc. has announced a definitive agreement to acquire Eucalyptus in a transaction valued at up to $1.15 billion, marking one of the most significant global expansion moves in the consumer telehealth sector to date. The deal positions Hims & Hers to accelerate its ambition of becoming the leading global consumer health platform, extending its reach well beyond the United States.

Under the terms of the agreement, approximately $240 million will be paid in cash at closing, with the remaining consideration structured as deferred payments and performance-based earnouts through early 2029. The company has emphasized that the transaction is designed to preserve balance sheet flexibility, with most of the funding expected to come from existing cash reserves and future U.S. operating cash flows. The acquisition is subject to regulatory approvals and is anticipated to close in mid-2026.

The strategic logic behind the transaction is straightforward: scale, infrastructure, and international expertise. Eucalyptus operates a portfolio of digital health brands across Australia, the United Kingdom, Germany, Japan, and Canada, and has served more than 775,000 customers. With an annual revenue run-rate exceeding $450 million and triple-digit year-over-year ARR growth throughout 2025, Eucalyptus brings both growth momentum and operational discipline to the combined platform.

For Hims & Hers, whose U.S. platform has built a reputation for direct-to-consumer access to personalized treatments across areas such as mental health, dermatology, sexual health, and weight management, the deal creates a ready-made international footprint. Rather than entering new markets from scratch, the company gains regulatory expertise, localized clinical infrastructure, and established consumer brands in key geographies.

Chief Executive Officer Andrew Dudum framed the acquisition as the next logical step in the company’s evolution, emphasizing that while healthcare challenges are universal, solutions must be tailored regionally. By integrating Eucalyptus’ local operating model with Hims & Hers’ technology platform and brand infrastructure, the company aims to expand access to personalized care globally while maintaining clinical quality and compliance standards.

Eucalyptus’ credibility adds weight to the expansion strategy. The company has facilitated nearly two million consultations and has published more than 20 peer-reviewed studies examining patient outcomes and adherence. It is also the first Australian telehealth provider accredited by the Australian Council on Healthcare Standards, underscoring its regulatory and clinical rigor.

Leadership continuity appears central to the integration plan. Eucalyptus CEO Tim Doyle will join Hims & Hers as Senior Vice President of International, overseeing global operations outside the U.S. His experience scaling digital healthcare businesses across multiple regulatory environments is expected to be instrumental as the company pushes deeper into Europe and Asia-Pacific markets.

From a competitive standpoint, the acquisition strengthens Hims & Hers’ position as pharmaceutical manufacturers, biotech firms, and diagnostic companies increasingly seek scalable digital distribution partners. The combined entity will offer capabilities ranging from online pharmacy fulfillment to concierge-style telehealth services, broadening its appeal across therapeutic categories.

If successfully executed, the deal could establish category leadership in Australia and meaningfully expand market share in the UK and Germany within the next two years. More broadly, it signals that consumer-centric digital health platforms are entering a new phase of consolidation and global ambition.

For investors and industry observers alike, this transaction is less about short-term expansion and more about building infrastructure for long-term dominance in global consumer healthcare.

Nvidia and Meta Deepen AI Alliance With Millions of Next-Gen Chips

Posted on by slightbourne@noblecapitalmarkets.com

AI infrastructure is getting another massive upgrade. Nvidia and Meta have announced an expanded multiyear, multigenerational partnership that will deliver millions of Nvidia’s latest GPUs, CPUs, and networking products into Meta’s data centers. The move underscores just how aggressively the world’s largest tech platforms are investing in artificial intelligence — even as investors question the sustainability of that spending.

Under the agreement, Meta will deploy Nvidia’s Blackwell and next-generation Rubin GPUs to train and run AI models across its family of apps, including Facebook, Instagram, and WhatsApp. The chips will power everything from recommendation systems to advanced generative AI tools designed for billions of users worldwide.

Nvidia CEO Jensen Huang described the partnership as a deep integration across computing layers, from GPUs and CPUs to networking and software. The goal is to bring Nvidia’s full-stack AI platform into Meta’s infrastructure, allowing the company’s researchers and engineers to push the boundaries of large-scale AI deployment.

Importantly, Meta will use the chips both in its own data centers and through Nvidia’s Cloud Partner ecosystem, which includes providers like CoreWeave. That hybrid strategy gives Meta additional flexibility to scale workloads quickly without waiting for new facilities to come online.

Beyond GPUs, Meta is also rolling out Nvidia’s Grace CPU-only servers, with plans to adopt the next-generation Vera CPU systems in 2027. These CPU deployments are notable because they signal Nvidia’s growing ambition to compete more directly in the traditional server market long dominated by Intel and AMD. If Nvidia can establish a foothold in CPU-heavy environments alongside its GPU dominance, it could reshape the balance of power in enterprise data centers.

Meta also plans to integrate Nvidia’s Confidential Computing technology into WhatsApp, enhancing privacy protections by enabling secure data processing on GPUs. As AI systems increasingly rely on sensitive personal data, secure processing capabilities are becoming a competitive differentiator.

The announcement comes at a time when AI-related stocks have faced renewed scrutiny. Shares of Nvidia and Meta have cooled in early 2026 amid concerns that hyperscalers may be overspending on AI hardware. Companies such as Microsoft, Amazon, and Google have introduced their own custom AI chips, raising questions about whether Nvidia’s GPUs will remain indispensable.

There are also broader concerns about whether all AI workloads truly require high-performance GPUs, or whether specialized processors could handle certain tasks more efficiently. Yet analysts argue that Nvidia’s advantage lies in versatility. GPUs can support a wide range of AI applications, from training large language models to running inference at scale, while custom chips tend to be optimized for narrower use cases.

For Meta, the decision is clear: scale matters. Running AI at the level required to serve billions of users demands proven hardware, deep software integration, and reliable supply chains. By doubling down on Nvidia, Meta is signaling that it views AI not as an experimental feature, but as core infrastructure for its future.

The partnership reinforces Nvidia’s central role in the AI ecosystem — and shows that, despite market jitters, the largest tech companies are still betting big on next-generation computing power.

The AI Coding Boom Just Created a $1.5B Cloud Contender

Posted on by slightbourne@noblecapitalmarkets.com

Cloud infrastructure startup Render has secured $100 million in new funding at a $1.5 billion valuation, underscoring how the artificial intelligence boom is reshaping the competitive landscape of cloud computing. As developers increasingly rely on AI tools to generate code and launch applications, platforms that simplify deployment and infrastructure management are seeing surging demand.

Founded in 2018 and headquartered in San Francisco, Render offers developers an easy way to deploy web apps, databases and background services without the operational complexity traditionally associated with major cloud providers. The company now counts more than 4.5 million developers on its platform and is growing revenue at well over 100% annually, according to CEO and co-founder Anurag Goel.

The broader cloud market has long been dominated by giants like Amazon, Microsoft and Alphabet. But the rise of generative AI, sparked by the 2022 debut of OpenAI’s ChatGPT, has shifted how software is built and deployed. Developers are now asking AI systems to write applications for them, dramatically lowering the barrier to creating new products. That shift is driving demand for infrastructure platforms that can instantly host and scale those AI-built applications.

Render operates on top of established cloud services such as Amazon Web Services and Google Cloud Platform, but it has also begun testing its own server infrastructure. Moving some workloads in-house could reduce long-term costs and give the company greater control over performance and pricing. However, owning hardware introduces new operational risks, including the need to carefully manage capacity to avoid shortages or downtime.

Investors backing Render include 01A, Addition, Bessemer Venture Partners, General Catalyst and Georgian Partners. The new capital will primarily fund hiring, particularly engineers focused on expanding platform capabilities and reliability.

Render’s growth also reflects changes among legacy platform providers. Salesforce recently indicated it would scale back new feature development for Heroku, once a pioneer in the platform-as-a-service category. That decision has left many developers searching for modern alternatives, and Render is positioning itself as a natural successor.

The company has attracted customers ranging from startups to established brands. AI-powered app builder Base44 uses Render for deployment, and its founder has invested in the company after experiencing the product firsthand. Other customers include e-commerce platforms, media companies and emerging AI startups seeking simplified infrastructure.

Notably, OpenAI’s Codex coding application allows users to deploy apps directly to Render, alongside options such as Cloudflare, Netlify and Vercel. As AI-generated software becomes more common, being integrated into these development workflows provides a powerful distribution channel.

Render’s rise highlights a broader trend: as AI makes software creation easier, infrastructure simplicity becomes a competitive advantage. In a market historically defined by scale and complexity, the winners of the AI era may be those that remove friction rather than add features.

Release – Conduent Collaborates with Alabama to Introduce Chip-Enabled SNAP Cards to Prevent EBT Fraud

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CNDT

February 13, 2026

Government

Alabama becomes the first Conduent-supported state – and only the second state in the nation – to roll out chip-enabled EBT cards statewide

Chips allow beneficiaries to insert their cards into point-of-sale terminals, significantly enhancing the security of SNAP and TANF accounts

FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-driven business solutions and services company, today announced its collaboration with the Alabama Department of Human Resources (DHR) to introduce chip-enabled EBT cards designed to help prevent fraud. The new cards, now mailed to EBT cardholders across the state, are expected to significantly enhance account security for beneficiaries, including those in the Supplemental Nutrition Assistance Program (SNAP) and the Temporary Assistance for Needy Families (TANF) program.

Across the country, states have reported a sharp rise in fraud attempts targeting EBT cards, which traditionally rely on magnetic stripes and are vulnerable to skimming – where criminals install devices on point-of-sale terminals to steal card information. With chip technology, Alabama cardholders can now insert their cards into the terminals rather than swiping them, adding a critical layer of protection.

Following a pilot program launched in December, Alabama is the first Conduent-supported state – and only the second state nationwide – to introduce EBT cards to all cardholders. Additional states are preparing similar rollouts.

“I am so pleased to finally bring this instrumental change to our EBT cardholders statewide,” said Alabama DHR Commissioner Nancy Buckner. “After a successful pilot program, we have shown that these new cards are easy to use and offer much better protection for the benefits. I am pleased that with this chip technology upgrade, our clients can have more confidence that their benefits will be there when they purchase groceries. This is not the end; we will continue to work and develop new and innovative ways to better protect our clients and their benefits.”

“We are honored to help Alabama DHR lead the way in giving their beneficiaries this critically important tool to protect their accounts and funds,” said Anna Sever, President, Government Solutions at Conduent. “Transitioning to chip technology is a proven fraud-prevention strategy. Chip cards are widely used across the country for other types of accounts, and EBT payments deserve the same level of security.”

SNAP and TANF recipients in Alabama and several other states can also use Conduent’s ConnectEBT mobile app and cardholder portal, which allow beneficiaries to lock their accounts to block all purchases, providing greater control and helping prevent unauthorized transactions.

In addition, with Conduent’s support, Alabama DHR recently implemented a system enhancement that automatically defaults all EBT cards to block out-of-state and online transactions. Cardholders who wish to make these types of purchases can easily unlock their card through the ConnectEBT app or portal.

The technologies are part of Conduent’s VeriSight Anti-Fraud Suite, a set of innovative solutions that help agencies address fraud risks in public benefit programs. The suite includes adaptive fraud detection tools for EBT customer service centers that can identify and block suspicious activity, such as unusual phone numbers or high call volumes.

Conduent is a national leader in government payment disbursements, and it currently supports electronic payments for public programs in 37 states. Conduent also supports U.S. government agencies with end-to-end solutions for healthcare claims processing, eligibility and enrollment, and child support administration.

About Conduent

Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 51,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $80 billion in government payments annually, enabling approximately 2.0 billion customer service interactions annually, empowering millions of employees through HR services every year and processing over 14 million tolling transactions every day. Learn more at www.conduent.com.

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Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.

Media Contacts

Neil Franz

Conduent

neil.franz@conduent.com

+1-240-687-0127

Joshua Overholt

Conduent

ir@conduent.com