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Silicon Labs Reports Second Quarter 2024 Results

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2 years ago

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Wireless IoT leader delivers strong second-quarter growth

AUSTIN, Texas, July 24, 2024 /PRNewswire/ — Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, reported financial results for the second quarter, which ended June 29, 2024.

“Silicon Labs delivered another quarter of strong sequential growth, driven by a combination of design wins ramping to production in several key growth areas, and end customers working down their excess inventory,” said Matt Johnson, President and Chief Executive Officer at Silicon Labs. “Looking forward, we expect revenue growth to continue in the third quarter as excess inventory is further reduced, design wins continue ramping, and bookings improve.”

Second Quarter Financial Highlights 

Revenue was $145 millionIndustrial & Commercial revenue for the quarter was $88 millionHome & Life revenue for the quarter was $57 million

Results on a GAAP basis:

GAAP gross margin was 53%GAAP operating expenses were $125 millionGAAP operating loss was $48 millionGAAP diluted loss per share was $(2.56)

Results on a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the below GAAP to Non-GAAP reconciliation tables were as follows:

Non-GAAP gross margin was 53%Non-GAAP operating expenses were $102 millionNon-GAAP operating loss was $25 millionNon-GAAP diluted loss per share was $(0.56)

Business Highlights

Due to popular demand, Silicon Labs is expanding its fifth annual Works With Developers Conference this fall with live events in San Jose, Hyderabad, and Shanghai. Each event’s agenda is tailored to regional market needs and covers key IoT topics like Matter, Smart Cities, AI and Machine Learning, and Security.Announced Silicon Labs’ new xG22E family of wireless SoCs, its first-ever family designed to operate within the ultra-low power envelope required for battery-free, energy harvesting applications. The new family consists of the BG22E, MG22E, and FG22E. As Silicon Labs’ most energy-efficient SoCs to date, all three SoCs will enable IoT device makers to build high-performance, Bluetooth Low Energy (LE), 802.15.4-based, or proprietary 2.4GHz. wireless devices for battery-optimized and battery-free devices that can harvest energy from external sources in their environments like indoor or outdoor ambient light, ambient radio waves, and kinetic motion.

Business Outlook

The company expects third-quarter revenue to be between $160 to $170 million. The company also estimates the following results:

On a GAAP basis:

GAAP gross margin to be between 54% to 56%GAAP operating expenses of approximately $123 million to $125 millionGAAP diluted loss per share per share between $(0.95) to $(1.25)

On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, and certain other items as set forth in the reconciliation tables:

Non-GAAP gross margin to be between 54% to 56%Non-GAAP operating expenses of approximately $101 million to $103 millionNon-GAAP diluted loss per share between $(0.10) to $(0.30)

Earnings Webcast and Conference Call 

Silicon Labs will host an earnings conference call to discuss the quarterly results and answer questions at 7:30 am CDT today. An audio webcast will be available on Silicon Labs’ website (www.silabs.com) under Investor Relations. In addition, the company will post an audio recording of the event at investor.silabs.com and make a replay available through August 24, 2024.

About Silicon Labs 

Silicon Labs (NASDAQ: SLAB) is a leader in secure, intelligent wireless technology for a more connected world. Our integrated hardware and software platform, intuitive development tools, thriving ecosystem, and robust support make us an ideal long-term partner in building advanced industrial, commercial, home and life applications. We make it easy for developers to solve complex wireless challenges throughout the product lifecycle and get to market quickly with innovative solutions that transform industries, grow economies, and improve lives. silabs.com

Forward-Looking Statements

This press release contains forward-looking statements based on Silicon Labs’ current expectations. The words “believe”, “estimate”, “expect”, “intend”, “anticipate”, “plan”, “project”, “will”, and similar phrases as they relate to Silicon Labs are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silicon Labs and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: the competitive and cyclical nature of the semiconductor industry; the challenging macroeconomic environment, including disruptions in the financial services industry; geographic concentration of manufacturers, assemblers, test service providers and customers in Asia that subjects Silicon Labs’ business and results of operations to risks of natural disasters, epidemics or pandemics, war and political unrest; risks that demand and the supply chain may be adversely affected by military conflict (including in the Middle East, and between Russia and Ukraine), terrorism, sanctions or other geopolitical events globally (including in the Middle East, and conflict between Taiwan and China); risks that Silicon Labs may not be able to maintain its historical growth; quarterly fluctuations in revenues and operating results; difficulties developing new products that achieve market acceptance; risks associated with international activities (including trade barriers, particularly with respect to China); intellectual property litigation risks; risks associated with acquisitions and divestitures; product liability risks; difficulties managing and/or obtaining sufficient supply from Silicon Labs’ distributors, manufacturers and subcontractors; dependence on a limited number of products; absence of long-term commitments from customers; inventory-related risks; difficulties managing international activities; risks that Silicon Labs may not be able to manage strains associated with its growth; credit risks associated with its accounts receivable; dependence on key personnel; stock price volatility; the impact of COVID-19 on the U.S. and global economy; debt-related risks; capital-raising risks; the timing and scope of share repurchases and/or dividends; average selling prices of products may decrease significantly and rapidly; information technology risks; cyber-attacks against Silicon Labs’ products and its networks; risks associated with any material weakness in our internal controls over financial reporting; and other factors that are detailed in the SEC filings of Silicon Laboratories Inc. Silicon Labs disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. References in this press release to Silicon Labs shall mean Silicon Laboratories Inc.

Note to editors: Silicon Laboratories, Silicon Labs, the “S” symbol, and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders. 

Silicon Laboratories Inc.

Condensed Consolidated Statements of Operations 

(In thousands, except per share data) 

(Unaudited)

Three Months Ended

Six Months Ended

June 29,
2024

July 1,
2023

June 29,
2024

July 1,
2023

Revenues

$           145,367

$           244,866

$           251,742

$           491,653

Cost of revenues

68,784

101,091

120,090

194,018

Gross profit

76,583

143,775

131,652

297,635

Operating expenses:

Research and development

85,909

85,902

166,559

175,298

Selling, general and administrative

38,695

40,706

72,248

85,597

Operating expenses

124,604

126,608

238,807

260,895

Operating income (loss)

(48,021)

17,167

(107,155)

36,740

Other income (expense):

Interest income and other, net

2,790

7,780

5,522

12,616

Interest expense

(263)

(1,596)

(772)

(3,252)

Income (loss) before income taxes

(45,494)

23,351

(102,405)

46,104

Provision for income taxes

36,663

12,338

36,278

20,091

Equity-method loss

—

(57)

—

(1,090)

Net income (loss)

$            (82,157)

$             10,956

$         (138,683)

$             24,923

Earnings (loss) per share:

Basic

$                (2.56)

$                  0.35

$                (4.33)

$                  0.78

Diluted

$                (2.56)

$                  0.33

$                (4.33)

$                  0.75

Weighted-average common shares outstanding:

Basic

32,124

31,614

32,018

31,786

Diluted

32,124

32,926

32,018

33,339

Non-GAAP Financial Measurements

In addition to the GAAP results provided throughout this document, Silicon Labs has provided non-GAAP financial measurements on a basis excluding non-cash and other charges and benefits. Details of these excluded items are presented in the tables below, which reconcile the GAAP results to non-GAAP financial measurements.

The non-GAAP financial measurements do not replace the presentation of Silicon Labs’ GAAP financial results. These measurements provide supplemental information to assist management and investors in analyzing Silicon Labs’ financial position and results of operations. Silicon Labs has chosen to provide this information to investors to enable them to perform meaningful comparisons of past, present and future operating results and as a means to emphasize the results of core on-going operations.

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures

(In thousands, except per share data)

Three Months Ended

June 29, 2024

Non-GAAP Income Statement Items

GAAP

Measure

GAAP

Percent of

Revenue

Stock

Compensation

Expense

Intangible
Asset

Amortization

Termination
Costs

Non-GAAP

Measure

Non-GAAP

Percent of

Revenue

Revenues

$     145,367

Gross profit

76,583

52.7 %

$                 412

$                —

$                  —

$          76,995

53.0 %

Research and development

85,909

59.1 %

10,217

6,061

902

68,729

47.3 %

Selling, general and administrative

38,695

26.6 %

5,215

19

106

33,355

22.9 %

Operating expenses

124,604

85.7 %

15,432

6,080

1,008

102,084

70.2 %

Operating income (loss)

(48,021)

(33.0 %)

15,844

6,080

1,008

(25,089)

(17.3 %)

 

Three Months Ended

June 29, 2024

Non-GAAP Loss Per Share

GAAP

Measure

Stock

Compensation

Expense*

Intangible

Asset

Amortization*

Termination

Costs*

Income

Tax

Adjustments

Non-

GAAP

Measure

Net income (loss)

$    (82,157)

$          15,844

$             6,080

$           1,008

$           41,176

$      (18,049)

Diluted shares outstanding

32,124

32,124

Diluted loss per share

$        (2.56)

$          (0.56)

*   Represents pre-tax amounts

 

Unaudited Forward-Looking Statements Regarding Business Outlook

(In millions, except per share data)

Three Months Ended
September 28, 2024

Business Outlook

GAAP

Measure

Non-GAAP

Adjustments**

Non-GAAP

Measure

Gross margin

54% to 56%

— %

54% to 56%

Operating expenses

$123 to $125

$(22)

$101 to $103

Diluted loss per share

$(0.95) to $(1.25)

$0.85 to $0.95

$(0.10) to $(0.30)

** 

Non-GAAP adjustments include the following estimates: stock compensation expense of $16.8 million, intangible asset amortization of $5.4 million, and the application of a long-term non-GAAP tax rate of 20%.

 

Silicon Laboratories Inc.

Condensed Consolidated Balance Sheets 

(In thousands, except per share data) 

(Unaudited)

June 29,
2024

December 30,
2023

Assets

Current assets:

Cash and cash equivalents

$           240,834

$           227,504

Short-term investments

98,336

211,720

Accounts receivable, net

41,212

29,295

Inventories

166,079

194,295

Prepaid expenses and other current assets

53,585

75,117

Total current assets

600,046

737,931

Property and equipment, net

139,397

145,890

Goodwill

376,389

376,389

Other intangible assets, net

47,374

59,533

Other assets, net

86,781

123,313

Total assets

$        1,249,987

$        1,443,056

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$             39,295

$             57,498

Revolving line of credit

—

45,000

Deferred revenue and returns liability

3,323

2,117

Other current liabilities

57,495

58,955

Total current liabilities

100,113

163,570

Other non-current liabilities

56,845

70,804

Total liabilities

156,958

234,374

Commitments and contingencies

Stockholders’ equity:

Preferred stock – $0.0001 par value; 10,000 shares authorized; no shares issued

—

—

Common stock – $0.0001 par value; 250,000 shares authorized; 32,289 and 31,897 shares issued and outstanding at June 29, 2024 and December 30, 2023, respectively

3

3

Additional paid-in capital

39,232

16,973

Retained earnings

1,054,048

1,192,731

Accumulated other comprehensive loss

(254)

(1,025)

Total stockholders’ equity

1,093,029

1,208,682

Total liabilities and stockholders’ equity

$        1,249,987

$        1,443,056

 

Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows 

(In thousands) 

(Unaudited)

Six Months Ended

June 29,
2024

July 1,
2023

Operating Activities

Net income (loss)

$         (138,683)

$             24,923

Adjustments to reconcile net income to net cash used in operating activities:

Depreciation of property and equipment

13,152

12,441

Amortization of other intangible assets

12,160

12,904

Amortization of debt issuance costs

—

960

Stock-based compensation expense

29,455

31,377

Equity-method loss

—

1,090

Deferred income taxes

29,784

(6,403)

Changes in operating assets and liabilities:

Accounts receivable

(11,918)

(26,819)

Inventories

28,123

(45,064)

Prepaid expenses and other assets

20,723

32,963

Accounts payable

(19,341)

(30,003)

Other current liabilities and income taxes

(13,624)

(26,220)

Deferred revenue and returns liability

1,206

4,326

Other non-current liabilities

(6,703)

(1,975)

Net cash used in operating activities

(55,666)

(15,500)

Investing Activities

Purchases of marketable securities

(17,700)

(81,427)

Sales of marketable securities

34,538

339,555

Maturities of marketable securities

97,458

171,691

Purchases of property and equipment

(5,577)

(13,462)

Proceeds from sale of equity investment

12,382

—

Purchases of other assets

—

(215)

Net cash provided by investing activities

121,101

416,142

Financing Activities

Proceeds from revolving line of credit

—

80,000

Payments on debt

(45,000)

(536,124)

Repurchases of common stock

—

(201,095)

Payment of taxes withheld for vested stock awards

(15,213)

(16,310)

Proceeds from the issuance of common stock

8,108

7,785

Net cash used in financing activities

(52,105)

(665,744)

Increase (decrease) in cash and cash equivalents

13,330

(265,102)

Cash and cash equivalents at beginning of period

227,504

499,915

Cash and cash equivalents at end of period

$           240,834

$           234,813

 

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SOURCE Silicon Labs

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Technology

BillionToOne Launches Unity Confirm™: A category-defining test that bridges the gap between screening and invasive diagnostics

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2 hours ago

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May 1, 2026

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A breakthrough in prenatal care, Unity Confirm enables non-invasive confirmation for high-risk screening results through the capture of intact circulating fetal cells using BillionToOne’s Fetal Cell Capture™ Technology

MENLO PARK, Calif., May 1, 2026 /PRNewswire/ — For more than two decades, the ultimate quest for scientists and clinicians studying prenatal genetics was the capture of an intact fetal cell non-invasively so that its fetal DNA could be directly analyzed. While cell-free DNA has revolutionized prenatal genetics, it left an uncertainty—a gap between screening and invasive diagnostics, for patients who cannot, or choose not to, access invasive diagnostics. Today, BillionToOne, Inc. (Nasdaq: BLLN), a next-generation molecular diagnostics company with a mission to create powerful and accurate tests that are accessible to all, announced the launch of Unity Confirm™, a circulating fetal cell-based, non-invasive confirmation test, designed to address this need from a simple maternal blood draw.

Since its introduction in the early 2010s, non-invasive prenatal testing (NIPT) has become the standard of care for screening for fetal aneuploidies. However, when screening returns a high-risk result, clinical guidelines recommend diagnostic confirmation via chorionic villus sampling (CVS) or amniocentesis. These invasive procedures carry a small but real risk of pregnancy loss, and are increasingly difficult to access. The majority of patients decline, leaving clinicians and families without the information needed to guide next steps, and widening gaps in inequitable care.

While cell-based prenatal genetics has been studied since before the advent of cell-free DNA tests, the scientific barrier has long been the rarity and fragility of fetal cells in maternal circulation. Presenting at fewer than one cell per milliliter of blood and nearly indistinguishable from millions of surrounding maternal cells, intact circulating fetal cells have been too difficult to isolate in an accessible way for clinical use. The cell-based approaches were previously studied across multiple independent publications1 in more than 1,500 patients, consistently demonstrating that when a fetal cell is captured and sequenced, it provides an accurate result that has extremely high concordance with invasive diagnostic testing. However, these methodologies have stayed too academic, expensive, and inaccessible.

Unity Confirm addresses this directly. Available for all patients who use UNITY Aneuploidy for their front-line screen*, BillionToOne’s Fetal Cell Capture™ technology, a multi-step immunological enrichment and single cell isolation process, isolates intact circulating fetal cells, effectively providing 100% fetal fraction2, and performs whole genome sequencing on each individual cell. By analyzing the direct fetal cells rather than fragmentary cfDNA, similar to invasive procedures, Unity Confirm delivers rapid CVS-like insights3 non-invasively, from a single blood draw.

“For years, the idea of capturing whole fetal cells non-invasively was largely viewed as an elusive holy grail, something theoretically possible but practically out of reach,” said Oguzhan Atay, PhD, Co-founder and CEO of BillionToOne. “Unity Confirm is proof that it does not have to be. For the first time, a clinician can confirm a high-risk prenatal result non-invasively, with a level of accuracy the field has never before seen outside of an invasive procedure. For the first time, this technology is broadly accessible.”

“A high-risk NIPT result does not give you a diagnosis. It gives you a decision to make under enormous stress, often without enough information,” said Haywood Brown, MD, Chief Medical Officer, Prenatal, BillionToOne. “For too long, the options were limited: forgo confirmation, or undergo an invasive procedure with a small but real risk. What makes Unity Confirm truly different is not just the science; it is that this capability is now clinically accessible. That’s not an incremental improvement. That is a fundamentally different standard of care.”

In BillionToOne’s own clinical validation, Unity Confirm demonstrated 100% concordance with known fetal outcomes and invasive diagnostic results across 16 of 16 samples, including affected fetuses for common aneuploidies and 22q11.2 microdeletion. The clinical data supporting Unity Confirm will be presented at ACOG 2026 in Washington, D.C., presenting the science behind the technology to the broader OB/GYN community for the first time. Beginning on May 28, providers using Unity Aneuploidy™ Screen will have access to Unity Confirm following a high-risk result. To further validate performance at scale, BillionToOne is now enrolling in the largest prospective study of a fetal cell-based confirmation assay with invasive diagnostic outcomes, targeting enrollment of 1,000 patients and measuring concordance to invasive diagnostic testing.

*Unity Confirm is intended for patients who cannot, or choose not to, pursue invasive diagnostic testing following a high-risk Unity Aneuploidy Screen result before 16 weeks of gestation. Available for Trisomy 21 (Down syndrome), Trisomy 18, Trisomy 13, 22q11.2 microdeletion, XXY, XYY, and XXX aneuploidies. Requires Unity Aneuploidy Screen as the frontline screen for the pregnancy.

Sources

1Hatt, Lotte, et al. “A new marker set that identifies fetal cells in maternal circulation with high specificity.” Prenatal Diagnosis 34.11 (2014): 1066-1072.; Stampalija, T., et al. “Single-cell-based non-invasive screening for fetal pathogenic microimbalances using maternal blood: comparison with invasive prenatal diagnosis.” Ultrasound in Obstetrics & Gynecology (2026).; Weymaere, Jana, et al. “Enrichment of circulating trophoblasts from maternal blood using filtration-based Metacell® technology.” Plos one 17.7 (2022):e0271226.; Jeppesen, Line Dahl, et al. “Screening for Fetal Aneuploidy and Sex Chromosomal Anomalies in a Pregnant Woman with Mosaicism for Turner Syndrome—Applications and Advantages of Cell-Based NIPT.” Frontiers in Genetics 12 (2021): 741752.; Bellair, Michelle, et al. “Noninvasive single-cell-based prenatal genetic testing: A proof of concept clinical study.” Prenatal Diagnosis 44.3 (2024):304-316.; Chakchouk, Imen, and Ignatia B. Van den Veyver. “Whole-Genome Amplification on Single Circulating Trophoblast Cell.” Whole Genome Amplification: Methods and Protocols. New York, NY: Springer US, 2026. 11-23.; Zhuo, Xinming, et al. “Use of amplicon-based sequencing for testing fetal identity and monogenic traits with Single Circulating Trophoblast (SCT) as one form of cell-based NIPT.” PLoSOne 16.4 (2021): e0249695.

2In rare instances, results may rely on a single cell that is co-sequenced with 1-2 maternal cells, which may reduce fetal fraction to 50% or 33%. When this occurs, the report clearly indicates this limitation.

3Unity Confirm and rapid CVS both analyze fetal-derived trophoblast cells. Unity Confirm isolates individual cells via whole genome sequencing (WGS), which is performed on each cell separately, whereas rapid CVS is often performed via FISH. While rapid CVS may analyze more cells, WGS generates more data per cell. In both rapid CVS and fetal cell capture, mosaicism cannot be excluded. Unity Confirm may have false-positive and false-negative results. Results are not a guaranty. Important medical decisions should not rely on UnityConfirm test results alone. Clinical correlation is necessary. Unity Confirm is a laboratory-developed test performed in a CLIA-certified and CAP-accredited laboratory. It is not an FDA-approved or FDA-cleared diagnostic test. Test performance may vary based on gestational age and other factors.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements regarding the clinical effectiveness of Unity Confirm. These statements are based on management’s current expectations, forecasts and assumptions, and actual outcomes and results could differ materially from these statements due to a number of factors, some of which are beyond BillionToOne’s control. These and additional risks and uncertainties could affect BillionToOne’s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. These risks and uncertainties include, but are not limited to, the risk that Unity Confirm is not clinically effective and not  adopted by healthcare professionals and those discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” and elsewhere in BillionToOne’s most recently filed Annual Report on Form 10-K, and other filings we make with the Securities and Exchange Commission from time to time. The forward-looking statements in this press release are based on information available to BillionToOne as of the date hereof, and BillionToOne disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing BillionToOne’s views as of any date subsequent to the date of this press release.

About BillionToOne
Headquartered in Menlo Park, California, BillionToOne is a next-generation molecular diagnostics company with a mission to create powerful and accurate tests that are accessible to all. The company’s patented Quantitative Counting Templates™ (QCT™) molecular counting platform is the only multiplex technology that can accurately count DNA molecules at the single-molecule level. For more information, visit www.billiontoone.com.

Media Contact
billiontoone@moxiegrouppr.com

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2026 Brockton High School Film Festival

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2 hours ago

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May 1, 2026

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Brockton High School Students Premiere Original Films Exploring Mental Wellness and Leadership

Twenty-three student creators showcase cinematic takes on boundaries, bias, and leadership; selected works to advance to the National SALT 12 Film Festival.

BROCKTON, Mass., May 1, 2026 /PRNewswire-HISPANIC PR WIRE/ — Brockton High School hosted the 2026 Brockton High School Film Festival, a community celebration of student voice and mental wellness. Organized by the nonprofit SALT ED Inc., the event premiered five original short films created by 23 students participating in the “Reel Funny” program.

Unlike traditional film programs, Reel Funny uses media production as a vehicle for personal growth rather than just technical instruction. The program guides students through a series of workshops focused on “soft skills”—including conflict resolution, recognizing internal bias, and establishing healthy personal boundaries. Students are then challenged to apply these lessons by collaborating in groups to write, produce, and edit their own films entirely independently.

A unique and critical component of the Reel Funny process is its integration of mental health professional oversight. Following the students’ film submissions, Eun Joo You, a Licensed Clinical Social Worker (LCSW) with Care Plus New Jersey, conducted a specialized screening of the works. This clinical review serves to evaluate student mental wellness and identify early signs of emotional distress, followed by direct engagement with the students to discuss their creative themes and overall well-being.

“The opportunity for our students to engage in this type of work is paramount to their development as well-rounded individuals,” said Kevin McCaskill, Principal of Brockton High School. “When we talk about preparing the next generation of leaders, we aren’t just talking about academics; we are talking about the emotional intelligence and self-awareness that programs like ‘Reel Funny’ provide. These films are a powerful reflection of their growth.”

The celebration invited friends, families, and local community members to acknowledge the leadership and vulnerability displayed by these young creators.

“This program empowers students to turn self-reflection into a leadership tool,” said Joonho Lee, CEO of Kbean®, a primary supporter of the initiative. “By giving students the autonomy to produce these films on their own terms, we see a level of authenticity that traditional education often misses.”

Looking Ahead: The SALT 12 National Showcase 
The Brockton High School festival serves as a qualifying event for the 3rd Annual SALT 12 Film Festival scheduled for the end of 2026. SALT 12 is a national platform that gathers the most impactful student films from across the country, allowing participants to share their voices with a public audience and compete for national recognition.

For more information about SALT ED Inc., the Reel Funny curriculum, or the upcoming SALT 12 National Showcase, please visit www.salt-ed.org.

About SALT ED Inc.
SALT ED Inc. is a nonprofit organization dedicated to empowering underserved youth through media production, workforce development, and mental wellness initiatives. Their signature “Reel Funny” program helps students develop the emotional intelligence and leadership skills necessary to succeed as next-generation leaders.

Photo – https://mma.prnewswire.com/media/2954869/Picture1.jpg

Logo – https://mma.prnewswire.com/media/1897111/5888831/Kbean_Logo.jpg

SOURCE Kbean

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Products That Count Announces the Winners of the 2026 CPO Awards, Honoring the Product Leaders Redefining Their Craft in the AI Era

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3 hours ago

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May 1, 2026

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The annual Awards recognize Chief Product Officers whose scope, influence, and impact have expanded dramatically as AI reshapes every organization.

SAN FRANCISCO, May 1, 2026 /PRNewswire-PRWeb/ — Products That Count, the world’s largest nonprofit community of product managers with over 600,000 members, today announced the winners of the 2026 CPO Awards. The Awards, produced in partnership with Mighty Capital, celebrate the Chief Product Officers whose leadership is shaping how products are built, shipped, and scaled in a moment of unprecedented change.

“The CPO mandate has fundamentally expanded,” said SC Moatti, Founder and Managing Partner of Products That Count. “Our winners this year are setting the standard for what the role becomes when AI is woven into every layer of the business. They are the builders other builders learn from.”

The role of the Chief Product Officer has never been broader. Today’s CPOs are architecting the systems, teams, and decisions that determine whether their companies win in the AI era.

The 2026 CPO Award Winners, by category:

President / CEO: Former CPOs who have elevated to the top role.

Eglae Recchia, CPO, Keyway

Maria Thomas, CEO (promoted from CPO), Rebrandly

Nabil Bukhari, President, Extreme Networks

Shiven Ramji, President & Chief Product Officer, Okta

Investor Mindset: Treating product like a portfolio of bets, with M&A as a strategic lever.

Achuth Rao, CPO, New York Life Insurance Company

Andrew Tsao, CPO & Analytics Officer, Audible

Dane Glasgow, CPO, Paramount/Skydance

Diana Benli, Chief Product Officer, Cognizant

Diego Dugatkin, Chief Product Officer, Box

Mike Bidgoli, CPO & CTO, Tubi

Vasu Murthy, CPO, Cohesity

Vrushali Paunikar, CPO, Carta

Ambrish Verma, Chief Product Officer, Ingram Micro

Enterprise Scale: Operating in complexity. Not speed alone, but transformation at scale.

Carla Guzzetti, Chief Product Officer, Cloud Applications, Extreme Networks

Eddie Garcia, Chief Product Officer, eBay

Gautam Shah, Chief Product Officer, Carelon

Ghazal Badiozamani, SVP of Product Management, Cengage

Kelli Fielding, Chief Product Officer, Europe, TransUnion

Mikhail Vaysbukh, Chief Product Officer, Elsevier

Monica Ugwi, GM, Copilot + Agents for Manufacturing & Mobility, formerly Microsoft

Randall Hounsell, SVP Connected Living Product, Comcast

Rita Khan, Chief Consumer & Digital Officer, formerly Optum

Ryan Bergstrom, Chief Product Officer, Paychex

Tim Simmons, Chief Product Officer, formerly Walmart International

Tina Tarquinio, Chief Product Officer, IBM Z and LinuxONE, IBM

Todd Garner, CPO, Sam’s Club

Trey Courtney, Global Chief Product & Partnerships Officer, Mood Media

Wyatt Jenkins, SVP Product, Intuit

Shayani Roy, SVP Product Management and Design, OpenTable

Scale Up: Growth-stage leaders putting the scale in place.

Aaron Seevers, Chief Product Officer, Noom

Avijit Sinha, SVP Corporate Development, EDB

Hannah Park, Chief Product Officer, Planned Parenthood

Joe Futty, CPO & CTO, Pipedrive

Jonathan Shottan, Chief Product Officer, Tonal

Kimberly Bloomston, CPO, 6sense

Kousthub Raghavan, Chief Product & Digital Officer, CLEAR

Natalia Williams, Chief Product Officer, Qonto

Nikita Miller, Chief Product Officer, Perk

Nilesh Khandelwal, Chief Product Officer, Rakuten Rewards

Paul Burke, CPO, Reveleer

Randhir Vieira, CPO, formerly Healthify

Renn Turiano, CPO, Gannett – USA Today Network

Sarah Turrin, CPO, Color

Emerging: On an amazing trajectory, regardless of tenure.

Adam Kelsey, EVP, Product Management, SignalWire

Apurva Garware, SVP, Head of Product, Invisible Technologies

Chai Atreya, Chief Product Officer, ActiveCampaign

Jack Brody, Chief Product Officer, Suno

John Barrus, VP of Product Management, Niobium

Kevin Swint, former Co-Founder & CPO, RemixAI

Nirmal Kumar, CPO, Aliaswire

Rafael Flores, Chief Product Officer, Treasure Data.ai

Sarah Jacob Singh, CPO & CTO, Medbridge

Sarosh Waghmar, CPO & Co-Founder, Spotnana

Vanessa Davis, CPO, LegalOn

Vikas Seth, CPO, ARIS

Platform: Multiplying impact beyond their own product by leveraging the ecosystem at scale.

Arnab Bose, CPO, Asana

Kishan Chetan, EVP & GM, Agentforce Service Cloud, Salesforce

Shardul Vikram, Chief Product Officer, SAP Application AI, SAP

Tom Occhino, Chief Product Officer, Vercel

Rohit Badlaney, CPO & General Manager, IBM Cloud Platform, IBM

Terre Layton, former CPO, BetterHealth

B.J. Boyle, Chief Product Officer, MacroHealth

Winners were selected by an Independent Advisory Council of seasoned product executives based on impact and leadership.

ABOUT PRODUCTS THAT COUNT

Products That Count is the world’s largest nonprofit community, engaging 600,000+ product managers and Chief Product Officers (CPOs) united by a mission: to empower everyone to build products that truly count. In a world flooded with products, only a few ignite passion, deliver value at scale, and transform lives. Behind those exceptional products are visionary CPOs and high-performing product teams driving innovation at the most bleeding-edge companies. We recognize these trailblazers through our coveted Awards, accelerate careers from PM to the C-suite and beyond through daily best practices, and serve as the trusted advisor to nearly all Fortune 1000 CPOs. Our Corporate Alliance includes Walmart, Ford, Cisco, Johnson & Johnson, Amplitude, and more. The most admired product leaders across industries serve on our Advisory Council, guiding the future of product leadership. Together, we’re shaping a future where every product counts. Learn more at productsthatcount.org

ABOUT MIGHTY CAPITAL

Mighty Capital is the VC firm that leverages the Product Alpha Effect, a data-backed framework for outperformance that proves great products drive great businesses. Founded in 2018 by SC Moatti, a product visionary and former Meta product leader, and Jennifer Vancini, a veteran of tech investing and M&A, we bring a differentiated edge to venture. Through Moatti’s 600,000-strong Products That Count network of product leaders, we see where the world is going before others do. That proprietary signal gives us an advantage in sourcing, diligence, and post-investment value creation. Our portfolio speaks for itself: 1 in 5 companies is a category leader like Amplitude (NASDAQ:AMPL), Groq, and Netskope (NASDAQ:NTSK). Founders consistently call us the most value-add investor on their cap table, and use our global product ecosystem as a marketplace to accelerate time to revenue, scale, and exit. Anchored by GCM Grosvenor, we’re deploying Fund III with both prior funds in top decile DPI and TVPI, more than $20B in value created, and 6 IPOs to date. Learn more at Mighty.Capital.

Media Contact

Emma Shirlin, Products That Count, 1 8287020154, emmashirlin@productsthatcount.com

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SOURCE Products That Count

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