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Sabio Announces First Quarter 2024 Financial Results; Revenues of US$6.4 million led by 29% Connected TV/OTT Growth

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Revenues of US$6.4 million in Q1/2024 and gross profit margin of 59%Connected TV/OTT sales of US$4.9 million, representing 77% of the Company’s sales mix Improved operating leverage resulted in Adjusted EBITDA1 Loss of US$1.3 million compared to a loss of US$2.2 million in Q1/2023

TORONTO, May 29, 2024 /CNW/ — Sabio Holdings Inc . (TSXV: SBIO) (OTCQX: SABOF) (the “Company” or “Sabio”), a California-based ad-tech company that specializes in delivering highly targeted ads, insights, and services in ad-supported streaming to top Fortune 100 brands, is pleased to announce its unaudited financial results for the first quarter ended March 31, 2024. Unless otherwise indicated, all amounts are expressed in U.S. dollars.

“While cord-cutting continues, the bigger story is the aggressive growth of Connected TV/OTT, which we’re capitalizing on with our impressive 29% YoY growth in the category — outpacing the broader market and leading to market share capture within the ad-supported streaming space,” said Aziz Rahimtoola, CEO of Sabio.

He continued, “Our focus on operating efficiency has been aided by this shift. Sabio’s Connected TV/OTT sales feature larger deals, lower operating expenses, and higher customer retention. Additionally, longer campaign lifespans in Connected TV/OTT allow us to upsell other high-margin offerings like App Science’s campaign measurement AI, powered by their unique, cookie-free household graph. This innovative solution is particularly well-positioned to capitalize on the uncertainty surrounding Google’s cookie deprecation.

The positive trends associated with streaming viewership and our Connected TV/OTT opportunities are expected to continue throughout and well beyond our 2024 revenue cycle. Complemented with our recently announced record upfront revenue commitments and improved operating leverage, we believe Q1 will provide a springboard to record sales and profitability for Sabio in 2024.”

“For the second straight quarter, we continued to see material improvements in operating leverage during the first quarter as a 21% decrease in first quarter OPEX, normalized for sales commissions and bonuses, narrowed our Adjusted EBITDA1 loss by close to US$1 million in what is traditionally the slowest quarter of the calendar year,” added Sajid Premji, CFO of Sabio. “Complemented by high rates of reoccurring revenue, the continued addition of top nameplates, over US$10 million in remaining upfront media commitments, and over US$15 million in political & advocacy sales orders from Q2-onwards during the 2024 U.S. election cycle, we continue to believe that Sabio will generate record sales and positive Adjusted EBITDA1 in 2024. After quarter-end, Sabio leveraged its improved operating model to execute a term sheet on a multi-year asset-based lending credit facility with a new lender to replace its existing facility with Avidbank. Subject to final credit approval and the finalization of loan documentation, the material terms of the new facility are comparable to the Company’s existing one and is expected to provide greater balance sheet flexibility and stability as we drive towards continued growth on both the top and bottom lines.

1 See “Use of Non-IFRS Measures” below. 

First Quarter 2024 Financial Highlights

Sabio delivered revenues of US$6.4 million in Q1/2024, in line with US$6.5 million in Q1/2023.Connected TV/OTT sales as a category increased by 29% to US$4.9 million, compared to US$3.8 million in the prior year’s quarter, continuing the trend of Sabio’s dominant sales category, representing 77% of the Company’s sales mix.Mobile generated revenues of US$1.3 million in Q1/2024, down 50% from US$2.5 million in Q1/2023. More mobile campaigns continue to shift from mobile display to mobile streaming, which is recognized under the Company’s Connected TV/OTT revenue category.Gross profit of US$3.8 million in Q1/2024, compared to US$4 million in Q1/2023. Gross margin was 59% compared to 62% in Q1/2023. This decline was primarily due to marginal rate concessions to secure larger upfront deals.Adjusted EBITDA1 loss of US$1.3 million in Q1/2024 compared to a loss of US$2.2 million in Q1/2023. The quarter-over-quarter decrease in loss was primarily driven by several cost and operational efficiency initiatives implemented during the second and third quarters of 2023.As of March 31, 2024, the Company had cash of US$2.3 million, as compared to US$3.3 million on March 31, 2023. Management believes it is well funded, with sufficient cash on hand to meet its growth objectives.As of March 31, 2024, the Company had US$4.8 million outstanding under its credit facility with Avidbank.

1 See “Use of Non-IFRS Measures” below

First Quarter 2024 Business Highlights

On March 26, 2024, the TSX Venture Exchange accepted a notice filed by the Company to implement a Normal Course Issuer Bid, whereupon the Company may, during the 12-month period commencing April 2, 2024 and ending April 1, 2025, purchase up to 852,184 shares in total, being 5% of the total number of 17,043,687 shares outstanding as at March 19, 2024.On February 29, 2024, the Company announced a strategic collaboration with McDonald’s USA, through a partnership with Publicis Groupe. McDonald’s will leverage Sabio’s Connected TV/OTT inventory, customized audience segments, and App Science’s proprietary 55 million household graph data to effectively connect with and reach the growing U.S. multicultural audience.On February 6, 2024, the Company appointed President of GroupM Multicultural, Gonzalo Del Fa as an independent member of the Board of Directors. As President of GroupM Multicultural, Del Fa plays a key role in all aspects of multicultural marketing, diverse media, and inclusive investment efforts across GroupM, WPP’s media investment group. In addition to his role at GroupM, he is the past-chairman of the Hispanic Marketing Council. Prior to joining GroupM, Del Fa worked at American Express Argentina, BBVA, Hachette Filipacchi, and Editorial Televisa.

Events Subsequent to March 31, 2024:

On May 17, 2024, the Company signed a term sheet on a new, multi-year asset-based lending credit facility with an alternative lender to replace its existing credit facility with Avidbank. The material terms wherein, including the total credit available, are comparable to the Company’s existing facility. The facility, pending final credit approval and loan documentation, is expected to close during the second quarter of 2024, with the Company’s current facility with Avidbank continuing through the transition period. On April 24, 2024, the current Avidbank credit facility was extended for a 90-day period until August 21, 2024, based on certain conditions, and provides for an Accounts Receivable Line of Credit, with $6,500,000 maximum loans outstanding, during the extended period.On April 24, 2024, the Company announced annual commitments and orders exceeding $27 million for the 2024, representing close to 75% of 2023’s consolidated revenues. The Company anticipates record top-line and bottom-line numbers in 2024, underpinned by strong second-half revenue pipeline visibility and fiscal discipline.On April 22, 2024, Sabio’s App Science™ subsidiary announced a multi-year renewal with Pivot Marketing Group to support their clients including Toyota Motor North America. App Science’s cross-platform measurement solutions will empower Pivot to reach, engage, and validate their audiences and their behaviors at a deeper level, and will leverage the platform’s AI capabilities.

1 See “Use of Non-IFRS Measures” below 

Leadership Update

In connection with the Company’s continuing efforts to reallocate resources to higher growth opportunities, such as AI and programmatic offerings, the Company also announces that Tim Russell, Sabio’s chief revenue officer, will be leaving the Company effective May 31, 2024.  “We thank Tim for his many contributions to Sabio and wish him success in his future endeavors,” said Aziz Rahimtoola, Founder and CEO of Sabio.

Outlook

As Connected TV/OTT streaming continues to be one of the fastest growing categories in advertising, Sabio’s 29% revenue growth in this category during the first quarter of 2024 demonstrates we are gaining market share, and our growth in this space continues to outpace growth in the market.

Building on the material improvements in operating leverage that drove over $2 million in Adjusted EBITDA and an expansion of Adjusted EBITDA margins in fourth quarter 2023, the inherent cost efficiencies in transitioning to this growing Connected TV/OTT streaming sales model away from one more dependent on mobile display has resulted in continued gains in operating leverage in the first quarter of 2024.  As our operating infrastructure continues to become more efficient, our sales model continues to become more predictable.

This creates great opportunity for our continued growth as we are armed with:

High rates of reoccurring revenue as 85% of consolidated first quarter 2024 revenues were from repeat customers (up from 79% in the same quarter in 2023);The continued addition of top name plates as new logos made up ~20% of first quarter 2024 spend;Material upfront commitments including $15+ million in signed political & advocacy insertion orders for campaigns to run during the last three quarters of 2024; andThe most diversified vertical mix in Sabio’s history.

Management continues to expect a return to double digit consolidated revenue growth in 2024 over both 2023 and our record 2022 mid-term election year.  Complemented by a reduced operating infrastructure, Sabio expects improvements in operating leverage with a return to Adjusted EBITDA profitability for the year. Management also expects to allocate material improvements in cash flows to bolster its working capital, through both debt repayment and improved cash reserves, which in combination with the continuation of our credit line, will provide greater balance sheet flexibility as we drive towards continued growth on both the top and bottom lines.

1 See “Use of Non-IFRS Measures” below 

Selected Financials

The tables below set out selected financial information relating to Sabio and should be read in conjunction with the Company’s audited condensed interim consolidated financial statements, including the notes thereto, and MD&A for the three months ended March 31, 2024, and March 31, 2023, copies of which can be found under the Company’s profile on SEDAR+ at http://www.sedarplus.ca/.

For the three months ended

 March 31, 2024

March 31, 2023

$

$

Revenue

6,351,533

6,481,572

Gross profit

3,762,004

4,011,050

Gross margin

59 %

62 %

Adjusted EBITDA(1)

(1,308,784)

(2,221,004)

Net increase in cash and cash equivalents during the period

(292,116)

(706,971)

Cash and cash equivalents – end of the period

2,319,996

3,292,431

For the three months ended

 March 31, 2024

March 31, 2023

$

$

Income (Loss) for the period

(2,012,107)

(2,779,648)

Finance Costs

314,346

170,481

Interest earned

(8,092)

–

Amortization of intangible Assets

51,147

37,140

Stock-based compensation

46,177

145,888

Amortization of lease

179,552

120,845

Income taxes

11,949

7,303

Foreign exchange differences

2,043

–

State and local taxes

19,868

32,001

Severance expenses

86,333

44,986

Adjusted EBITDA

(1,308,784)

(2,221,004)

 

1 See “Use of Non-IFRS Measures” below.

The financial disclosures in this news release are subject to a number of cautionary statements, assumptions, contingencies, and risks as set forth in this news release. The foregoing outlook and expectations constitute forward-looking statements and financial outlook and are qualified in their entirety by the “Forward-Looking Statements” cautionary statement below. Readers are cautioned that this release is for information purposes only and may not be appropriate for other purposes.

Conference Call:

The Company will release its financial results for the first quarter in a press release prior to the investor conference call.

The webinar details are below:

Webinar Details
Date: Thursday, May 30, 2024
Time: 9:00 a.m. ET (6:00 a.m. PT)
Webinar Registration:
https://bit.ly/3K2m0qu
Or dial:
For higher quality, dial a number based on your current location.

Canada:

+1 647 374 4685 (Toronto local)

+1 778 907 2071 (Vancouver local)

Webinar ID: 840 0807 9906

International numbers available: https://us02web.zoom.us/u/kbmWagiHz6

Please connect five minutes prior to the conference call to ensure time for any software download that may be required.

About Sabio

Sabio Holdings (TSXV: SBIO, OTCQX: SABOF) is a technology and services leader in the fast-growing ad-supported streaming space. Its cloud-based, end-to-end technology stack works with top blue chip, global brands and the agencies that represent them to reach, engage, and validate streaming audiences. Sabio Holdings’ companies consist of Sabio – a demand-side platform (DSP) powered through our proprietary ad-serving technology; App Science™ – a non-cookie based software as a service (SAAS) analytics and insights platform with AI natural language capabilities; and FWD (formerly known as Vidillion) – an ad-supported streaming supply side platform (SSP) that includes server-side ad-insertion (SSAI) technology.

For more information, visit: sabioholding.com.

Use of Non-IFRS Measures

This press release makes reference to certain non-IFRS (International Financial Reporting Standards) measures including, but not limited to, Adjusted EBITDA. These measures do not have a standardized meaning prescribed by IFRS and therefore they may not be comparable to similarly titled measures presented by other companies and should not be considered in isolation nor as a substitute for analysis of financial information reported under IFRS. Rather, these non-IFRS measures are provided as additional information to complement IFRS measures by providing a further understanding of operations from management’s perspective.

Management uses adjusted earnings before interest, income taxes, depreciation, and amortization (“Adjusted EBITDA”) as a key financial metric to evaluate Sabio’s operating performance as a complement to results provided in accordance with IFRS. The term “Adjusted EBITDA”, as defined by management, refers to net income (loss) before adjusting earnings for finance costs, income taxes, stock-based compensation, amortization, non-recurring items, and severance costs.  Refer to reconciliation to Adjusted EBITDA in the Company’s MD&A for the three months ended March 31, 2024 and March 31, 2023, copies of which can be found under Sabio Holdings Inc.’s profile on SEDAR Plus at www.sedarplus.ca.

Management believes that the items excluded from Adjusted EBITDA are not connected to and do not represent the operating performance of Sabio. Management believes that Adjusted EBITDA is useful supplemental information as it provides an indication of the results generated by Sabio’s main business activities prior to taking into consideration how those activities are financed and taxed as well as expenses related to stock-based compensation, depreciation, amortization, restructuring costs, other expense (income), and foreign exchange (gain) loss. Accordingly, management believes that this measure may also be useful to investors in enhancing their understanding of Sabio’s operating performance. It is a key measure used by Sabio’s management and board of directors to understand and evaluate Sabio’s operating performance, to prepare annual budgets, and to help develop operating plans.

Forward-Looking Statements

This press release may contain certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, which is often, but not always, identified by the use of words such as “believes,” “anticipates,” “plans,” “intends,” “will,” “should,” “expects,” “continue,” “estimate,” “forecasts,” or the negative thereof and other similar expressions. All statements herein other than statements of historical fact constitute forward-looking information, including but not limited to statements in respect of; the Company’s operations, growth, market share, sales expectations, and business plans; results, including sales, expenses, and customer retention, of the Connected TV/OTT sales; streaming viewership and Connected TV/OTT opportunities and growth well beyond the Company’s 2024 revenue cycle; achievement of record sales, positive adjusted EBITDA, and profitability in 2024; entering into definitive agreements in respect of the multi-year asset-based lending credit facility; achievement of greater balance sheet flexibility and stability; reduced operating infrastructure and higher efficiency; sales model predictability; double digit consolidated revenue growth in 2024; improvements in operating leverage; material improvements in cash flows; use of funds; the Company’s outlook for the remainder of fiscal 2024, and balance sheet and cash flow management. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations, or statements made by third parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors, and assumptions concerning future events that may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including the effect of the macro-economic environment adversely impacting the Company’s business more than anticipated, unexpected funding and cash flow management difficulties, and the other risk factors disclosed in the Company’s filing statement and management’s discussion and analysis (MD&A), which are  publicly available on SEDAR Plus at www.sedarplus.ca. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. 

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

For further information: Sajid Premji, Chief Financial Officer, investor@sabio.inc, Phone: 1.844.974.2662; Aideen McDermott, Investor Relations, investor@sabio.inc

SOURCE Sabio Inc.

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Harlem Children’s Zone Acquires FinTech Platform, Goalsetter, to Accelerate Universal Economic Mobility

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Acquisition combines HCZ’s proven model with Goalsetter’s innovative financial education technology to expand access and impact at scale

NEW YORK, Oct. 22, 2026 /PRNewswire/ — Today, Harlem Children’s Zone (HCZ), one of the nation’s leading anti-poverty organizations, announced the acquisition of Goalsetter, a financial technology platform that delivers best-in-class, engaging, technology-enabled learning experiences for people seeking to enhance their financial know-how, capabilities, and confidence.   

The acquisition marks a significant step in HCZ’s Wealth Builds–Universal Economic Mobility (WB-UEM) strategy, a national framework designed to help children and families build long-term economic security through cradle-to-career supports, financial education and experiences, and direct access to capital via a Child Capital Stack of asset boosts.

“We know that economic mobility is a two-generation challenge,” says Harlem Children’s Zone CEO Kwame Owusu-Kesse. “With this acquisition, we are solving for a critical component of Universal Economic Mobility by melding a proven financial education platform and HCZ’s decades of experience providing people with the knowledge and tools to build strong futures for themselves and their families. This is more than an investment in financial education. It is an investment in critical national infrastructure for economic mobility.”

Harlem Children’s Zone has decades of experience driving outcomes at scale, beginning as a one-block pilot, expanding to over 100 blocks in Central Harlem, and now working with over 70 communities across the United States. HCZ seeks to use its learnings, decades of experience driving outcomes at scale, and renowned best practices to provide pathways to economic mobility for all of America’s children and families.

“Goalsetter was built on the belief that everyone should have access to the financial knowledge and tools that can shape their future and livelihood,” said Tanya Van Court, Chief FinTech Officer at Harlem Children’s Zone and Founder of Goalsetter. “Joining Harlem Children’s Zone gives us an extraordinary opportunity to build on that work. Together, we can continue enhancing the platform, expand access for learners of all ages and walks of life, and demonstrate what is possible when mission, innovation, and technology come together to serve the most people.”

Goalsetter creates opportunities to deliver high-quality, developmentally appropriate and culturally relevant financial education with extensive reach,  including to low-income and rural communities that have historically had limited access to these resources. Its current offerings include Goalsetter Classroom, which provides standards-aligned financial education curriculum for middle and high school students, and MoneyLingo, a mobile-first financial education experience for college-aged students and adults in the workforce, covering practical topics such as saving, investing, credit, debt, and financial decision-making.                                                         

“This acquisition sends an important signal to the field,” said Owusu-Kesse. “Social impact organizations should not have to choose between mission and scale. By bringing a proven technology platform into HCZ, we’re demonstrating how non-profit organizations can be centers of business excellence, using vehicles of innovation, AI, and technology to create efficient and effective pathways to scale and impact. This acquisition strengthens our in-house capacity to build, innovate, and continuously improve outcomes.”

The organization plans to build upon Goalsetter’s existing offerings by exploring financial education products for younger learners and creating opportunities to establish a continuous financial learning journey from early childhood through adulthood.

“This is ultimately about extending opportunity to all,” added Owusu-Kesse. “By connecting financial education, technology, family engagement, and access to assets, we can help create more accessible pathways to economic mobility.”

Services to current Goalsetter clients will be unaffected by this acquisition.

View original content:https://www.prnewswire.com/news-releases/harlem-childrens-zone-acquires-fintech-platform-goalsetter-to-accelerate-universal-economic-mobility-302917320.html

SOURCE Harlem Children’s Zone

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Common Ground in the Battlegrounds? Surveys Reveal Widespread Bipartisan Agreement in 11 Competitive States and 28 Congressional Districts, as Well as Nationally

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Bipartisan Majorities Say If Congress Were to Listen to the People More, They Would More Likely Find Common Ground

COLLEGE PARK, Md., Oct. 22, 2026 /PRNewswire/ — The Program for Public Consultation (PPC) conducted extensive surveys in competitive states and congressional districts, as well as nationally, revealing a remarkable level of bipartisan common ground.

Majorities of both Democrats and Republicans agreed on: 

106 policies nationally 82 policies in all states and districts surveyed101 policies in at least two-thirds of all the states and districts surveyed

Over 40,000 Americans were surveyed in two waves with representative samples of 600-2,016 in each of the 11 competitive states surveyed, and 400-592 in each of the 28 competitive congressional districts surveyed, and 1,200-2,509 nationwide.

Nearly all policy questions were based on congressional legislation or executive branch proposals. 

Fourteen policy topics were covered: Artificial Intelligence, Housing, Healthcare, Low-Income Assistance, Families and Children, Social Security, Immigration, Abortion and Birth Control, Energy and Environment, Federal Taxes, Campaign Finance, Government Reform, Criminal Justice and America’s Role in the World. For every topic, most policies had bipartisan agreement across every battleground surveyed.

The policy questions used in these national and battleground surveys were chosen because they elicited bipartisan support in previous in-depth national surveys conducted by PPC, in which respondents received briefings on the topic and evaluated pro and con arguments for the proposed policy.

Steven Kull, director of PPC, comments, “What is striking here is that these surveys revealed widespread bipartisan agreement on over a dozen key issues that Congress has failed to resolve, from costs of healthcare, to risks of artificial intelligence, to Social Security’s impending insolvency, and many more. Clearly, there is far more common ground among the American people than there is in Congress.”

Americans Think Public Opinion Should Have More Influence
Respondents were also asked about the role of public opinion in policymaking. Across the battlegrounds, on average, respondents estimated that federally elected officials make the same decisions that the majority of Americans would make just 35% of the time.

Large majorities believe polarization in government comes not from the American people but from elected officials, and that more influence for the people would help break the logjam in Congress (Democrats 62 to 88%, Republicans 66 to 89%).

Perhaps most germane, overwhelming majorities of Democrats and Republicans in the battlegrounds believe that if members of Congress were more influenced by the people, they would be more likely to find common ground (Democrats 82 to 97%, Republicans 80 to 95%), and better serve the common good (Democrats 77 to 94%, Republicans 79 to 94%).

Steven Kull adds, “On the basis of this study, it does appear that the public is correct that if the people had more influence, Congress would be more likely to find common ground, and thus  function better.”

Americans also say that public opinion should play a substantial role in news reporting about policy. Over two-thirds say news reports on policy matters should include public opinion data most of the time or always when reliable information is available (Democrats 71 to 88%, Republicans 67 to 89%). Similarly, when Congress is about to vote on a law, large numbers say it is very or extremely important for news outlets to report whether a majority of Americans favor or oppose it (Democrats 65 to 84%, Republicans 60 to 85%).

MORE INFORMATION

Battlegrounds Common Ground SheetIndividual State and District Results, Questionnaires and MethodologiesNational Questionnaire with Toplines, Crosstabs and Methodology

About the Surveys
The state and district surveys used for this analysis were fielded July 21 – August 17, 2026, to a total of 19,949 adults, and May 27 – July 1, 2026, to 19,564 adults. They included 600-2016 in each of the 11 states, and 400-592 in each of the 28 congressional districts. Response rates ranged from 7.1 to 9.0%. Confidence intervals range from +/- 2.9 to 8.1%, and maximum weights range from 1.9 to 10.0.

The national surveys were fielded February 11-26, 2026, with 2,509 adults, and March 11-19, 2026, with 1,200 adults. The response rates were 7.6% and 8.3%, respectively. The confidence interval is +/- 2.9% for both surveys, and the maximum weights are 2.5 and 1.9.

The sample was obtained from multiple online opt-in panels, including Cint, Dynata and Prodege. Sample collection and quality control were managed by QuantifyAI under the direction of the Program for Public Consultation. The surveys were offered in both English and Spanish.

The samples were pre-stratified and weighted by age, race, ethnicity, gender, education, household income, marital status, and home ownership to match the general adult population. The national sample was further weighted by Census region. The distribution of partisan affiliation was within expectations, based on voter registration data for non-leaners and/or Cook’s Partisan Voting Index for leaners, or weighted to reflect those benchmarks.

About the Common Ground in the Battlegrounds? Survey Series
This effort aims to identify bipartisan common ground in competitive states and districts across the nation. The project seeks to educate the public, policymakers and candidates about the findings; and provide journalists with independent, nonpartisan research that brings the public into the conversation about public policy.

In addition to PPC, project partners include the Civic Innovation Center at the University of Maryland (CivIC) and Voice of the People (VOP), a national nonpartisan organization seeking to give the public a greater voice in government. None of these entities advocate for policy positions or endorse candidates.

States surveyed: Alaska; Georgia; Iowa; Maine; Michigan; Minnesota; Montana; Nebraska; New Hampshire; North Carolina; Ohio; and Texas.

Congressional Districts surveyed: Arizona’s 1st and 6th; Colorado’s 8th; Iowa’s 1st, 2nd, 3rd and 4th; Maine’s 2nd; Michigan’s 4th, 7th, 8th and 10th; Montana’s 1st; Nebraska’s 2nd; Nevada’s 3rd; New Jersey’s 7th and 9th; New Mexico’s 2nd; New York’s 3rd, 4th, 17th and 19th; Oregon’s 5th; Pennsylvania’s 1st, 7th, 8th and 10th; and Washington’s 3rd.

The survey series excluded several competitive districts because they were in states that had recently been redistricted and thus had no Census data yet to use for demographic benchmarks.

Program for Public Consultation
The Program for Public Consultation (PPC), affiliated with the University of Maryland’s School of Public Policy, seeks to improve democratic governance by consulting the public and bringing the people’s views into the public discourse. It conducts surveys with representative samples on policies proposed by elected officials and shares its findings with government officials, the media, other academics, and the general public.

Civic Innovation Center
The Civic Innovation Center (CivIC) at the University of Maryland’s School of Public Policy works to strengthen the foundations of civic health. It contributes to important debates about civic education, civic engagement, and needed democratic reforms in the state of Maryland and nationwide, in partnership with other BIG 10 universities. It works to build the connective tissue that brings together students, scholars and practitioners to help elevate the UMD community’s contribution to our wider democracy.

Voice of the People
Voice of the People (VOP) is a nonpartisan organization working to re-anchor our democracy in its founding principles by giving ‘We the People’ a greater and more effective voice in government. It champions innovative methods and technology that enable the American people to play a role in the policymaking process and provide policymakers with a more accurate understanding of the views of their constituents.

Contact: Jonathan Casaverde, jonathan.casaverde@wardcirclestrategies.com,(786) 469-9422

View original content to download multimedia:https://www.prnewswire.com/news-releases/common-ground-in-the-battlegrounds-surveys-reveal-widespread-bipartisan-agreement-in-11-competitive-states-and-28-congressional-districts-as-well-as-nationally-302915872.html

SOURCE Program for Public Consultation

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FDA grants 510(k) clearance for BoneEnhance, the first machine learning layer on RIVANNA’s Accuro XV platform

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Anatomy segmentation and three-dimensional skeletal visualization arrive with this clearance; an injury detection module for clinical decision support is in development on the platform roadmap

CHARLOTTESVILLE, Va., Oct. 22, 2026 /PRNewswire/ — RIVANNA®, developer of AI-enabled clinical decision-support solutions, today announced that the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance for BoneEnhance®, a machine learning software module for the Accuro® XV diagnostic ultrasound system. The module segments bone and surrounding tissues and supports visualization of skeletal anatomy in three dimensions during image review.

The clearance moves the platform from acquisition toward interpretation. Accuro XV was cleared in April 2026 for B-mode imaging in musculoskeletal conventional and superficial applications. Its conformable three-dimensional probe automates large field-of-view image acquisition after initial patient positioning. BoneEnhance is the first machine learning software module cleared for the platform.

BoneEnhance identifies bone and surrounding tissues

Each automated acquisition creates a volumetric dataset for review. BoneEnhance identifies bone and surrounding tissues within that volume, then highlights them with color-coded overlays on the two-dimensional B-mode image. The original anatomical data remain unaltered and visible beneath the overlays. A three-dimensional indicator beside the image shows the scan orientation and the location of the displayed slice within the volume.

A platform milestone

The sequence is deliberate: decision support begins at acquisition. Accuro XV acquires the image; BoneEnhance identifies and labels the anatomy within it. Behind the integrated workflow stands a worldwide intellectual-property portfolio of more than 100 issued and pending patents across more than 20 patent families.

“We founded RIVANNA to solve a problem that cuts across care settings: decision-critical information sits outside the point-of-care workflow,” said Will Mauldin, PhD, Co-founder and CEO of RIVANNA. “BoneEnhance is where the stack begins to close that gap for musculoskeletal care: automated volumetric acquisition, now paired with cleared software-assisted review. This clearance is the foundation: the first machine learning layer, anchoring the decision-support capabilities now in development.”

Independently validated within a nationwide eight-site study

BoneEnhance was trained and validated within RIVANNA’s nationwide eight-site clinical study. Three sites contributed the training data; the other five provided the independent test set of 233 volumetric datasets, comprising 69,900 images from 173 subjects. None of the test data were used for training or tuning. Three board-certified radiologists established the reference labels, and per-volume label prediction accuracy, a measure of anatomical labeling, ranged from 95.1% to 100.0%.

Separate from the validation supporting this clearance, the platform’s automated acquisition carries peer-reviewed evidence: in a published study of 205 patients in the Journal of Emergency Medicine (DOI: 10.1016/j.jemermed.2025.11.011), operators with one hour of hands-on training acquired wrist and ankle images rated adequate for diagnostic interpretation in more than 90% of scans, with image quality comparable to physician-acquired scans.

“This clearance reflects the strength of the team RIVANNA has built across AI development, clinical affairs, and regulatory execution, and the commitment of the clinical sites that partnered with us to generate the evidence,” said Delphine Le Roux, PhD, PMP, Senior Director, Market Access and Strategic Partnerships at RIVANNA. “None of it happens without BARDA’s sustained support, which allowed us to do this the right way: rigorous, multi-site, and independent. The infrastructure, partnerships, and regulatory playbook we established for BoneEnhance are designed to carry forward. That execution engine is what positions us to pursue the next clearance with confidence.”

The next layer in development

The platform’s progression continues with an investigational musculoskeletal injury detection module. Where BoneEnhance labels the anatomy, the new module is being developed to assist clinicians in evaluating potential extremity fractures within acquired ultrasound images. The nationwide clinical study that trained and validated BoneEnhance, now expanded from eight to ten sites, is building the datasets used to train the module. Because the sites and data infrastructure were established once and are reused for each new module, every subsequent module builds on the program’s federal investment.

Federal funding acknowledgment

This project has been supported in whole or in part with federal funds from the U.S. Department of Health and Human Services; the Administration for Strategic Preparedness and Response (ASPR); Biomedical Advanced Research and Development Authority (BARDA), under contract number 75A50121C00035.

About Accuro XV

Accuro XV is a portable, small-footprint point-of-care volumetric ultrasound imaging system for musculoskeletal imaging. Its conformable three-dimensional probe automates large field-of-view B-mode image acquisition without ionizing radiation. BoneEnhance is a cleared machine learning software module available during review of Accuro XV volumetric image acquisitions. It segments bone and surrounding tissues and supports visualization of skeletal anatomy in three dimensions.

An investigational computer-aided musculoskeletal injury detection module is in development for Accuro XV. It is designed to assist clinicians in detecting extremity fractures from volumetric ultrasound and annotating soft-tissue signs associated with injury, and to support triage decisions, including referral for additional radiographic imaging.

Accuro XV is designed to provide a fracture-care layer at the point of triage, helping to streamline emergency department workflows, expedite evaluation of low-severity extremity injuries, and reduce reliance on X-ray referrals. The platform is designed to support just-in-time training to promote consistent use across clinical experience levels, advancing a shared mission to transform musculoskeletal injury care while supporting broader emergency preparedness objectives.

About RIVANNA

RIVANNA is a medical technology company developing clinical decision-support solutions powered by proprietary clinical datasets, AI models, and purpose-built imaging hardware. The company’s platform is designed to automate complex anatomical analysis at the point of care, support faster and more confident clinical decisions, reduce variability, and expand access to advanced capabilities. Its initial applications address interventional guidance and trauma triage, beginning with neuraxial procedures and musculoskeletal injury assessment. RIVANNA has established an FDA-cleared product portfolio and maintains a worldwide intellectual-property portfolio of more than 100 issued and pending patents. RIVANNA is headquartered in Charlottesville, Virginia, and operates an FDA-registered, ISO 13485:2016-certified manufacturing facility.

RIVANNA, Accuro, BoneEnhance, and the Rivanna Medical family of marks are registered and unregistered trademarks of Rivanna Medical, Inc. in the United States and other jurisdictions.

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SOURCE RIVANNA

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