Technology
AudioCodes Reports Second Quarter 2024 Results and Declares Semi-Annual Dividend of 18 cents per share
Published
2 years agoon
By
OR YEHUDA, Israel, July 30, 2024 /PRNewswire/ —
Second Quarter Highlights
Quarterly revenues increased by 0.5% year-over-year to $60.3 million;Quarterly service revenues increased by 12.3% year-over-year to $32 million;GAAP results:
– Quarterly GAAP gross margin was 65.5%;
– Quarterly GAAP operating margin was 8.2%;
– Quarterly GAAP EBITDA was $6.2 million;
– Quarterly GAAP net income was $3.8 million, or $0.12 per diluted share.Non-GAAP results:
– Quarterly Non-GAAP gross margin was 65.8%;
– Quarterly Non-GAAP operating margin was 11.9%;
– Quarterly Non-GAAP EBITDA was $8.3 million;
– Quarterly Non-GAAP net income was $5.5 million, or $0.18 per diluted share.Net cash used by operating activities was $2.9 million for the quarter.AudioCodes repurchased 116,453 of its ordinary shares during the quarter at an aggregate cost of $1.2 million.
Details
AudioCodes (NASDAQ: AUDC), a leading vendor of advanced communications software, products and productivity solutions for the digital workplace, today announced its financial results for the second quarter ended June 30, 2024.
Revenues for the second quarter of 2024 were $60.3 million compared to $60.0 million for the second quarter of 2023.
EBITDA for the second quarter of 2024 was $6.2 million compared to $2.9 million for the second quarter of 2023.
On a Non-GAAP basis, EBITDA for the second quarter of 2024 was $8.3 million compared to $6.2 million for the second quarter of 2023.
Net income was $3.8 million, or $0.12 per diluted share, for the second quarter of 2024 compared to net income of $1.1 million, or $0.03 per diluted share, for the second quarter of 2023.
On a Non-GAAP basis, net income was $5.5 million, or $0.18 per diluted share, for the second quarter of 2024 compared to $5.1 million, or $0.16 per diluted share, for the second quarter of 2023.
Non-GAAP net income excludes: (i) share-based compensation expenses; (ii) amortization expenses related to intangible assets; (iii) expenses related to deferred payments in connection with the acquisition of Callverso Ltd; (iv) financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies; (v) tax impact which relates to our Non-GAAP adjustments; and (vi) in Q1 2024 non-cash lease expense which is required to be recorded during the quarter even though this is a free rent period under the lease for the Company’s new headquarters. A reconciliation of net income on a GAAP basis to a non-GAAP basis is provided in the tables that accompany the condensed consolidated financial statements contained in this press release.
Net cash used by operating activities was $2.9 million for the second quarter of 2024. Cash and cash equivalents, short-term bank deposits, long and short-term marketable securities and long financial investments were $93.7 million as of June 30, 2024 compared to $106.7 million as of December 31, 2023. The decrease in cash and cash equivalents, short-term bank deposits, long and short-term marketable securities and long financial investments was the result of the use of cash for the continued repurchasing of the Company’s ordinary shares pursuant to its share repurchase program and the payment of a cash dividend during the first quarter of 2024 and purchase of property and equipment related to leasehold improvements of our new corporate headquarter in Israel, offset, in part, by cash from operating activities.
“I am pleased to report solid second quarter 2024 results, marked by the second consecutive quarter of positive top-line growth and ongoing momentum in our Microsoft and conversational AI businesses with sequential uptick in our legacy gateway business,” said Shabtai Adlersberg, President and Chief Executive Officer of AudioCodes.
In terms of our strategic business lines, Microsoft Teams business in the second quarter grew 3.3% year-over-year, with steady increase in the Live managed services, which grew about 35% year-over-year and reached ARR of $56 million exiting second quarter 2024. Second quarter Live business growth puts us on track to land within our full year 2024 ARR target range of $64–$70 million, representing an average approximate annual growth rate of 40% compared to 2023.
In the CX business, our healthy pipeline continues to support a positive outlook for second half and full year 2024. Conversational AI business grew over 50% year-over-year, benefiting from customers’ inexorable demand to drive innovation and deliver productivity improvements on projects in both the UC and CX space. We have witnessed progress made in several new Conversational AI activities. These include among others, Voca CIC, our AI first CX solution for Microsoft Teams, SaaS Recording solutions such as Meeting Insights and interaction recording, and in the MS Teams meeting room space.
Underlying business momentum remains strong, as we had several notable wins with marquee accounts in the quarter, from a combination of new customer additions as well as cross-sell of products and services to existing ones. Key to such cross sales success is our Live Platform for UCaaS and CCaaS, which encompasses a comprehensive stack of voice related services to the Microsoft Teams ecosystem.
Overall, we delivered on our business priorities in the quarter, fostering momentum in strategic areas of our business and successfully executing on the cost rationalization initiatives. We believe this lays the foundation to drive healthy top-line growth long-term while driving significant margin expansion in 2024 and beyond,” concluded Mr. Adlersberg.
Share Buy Back Program
During the quarter ended June 30, 2024, the Company acquired 116,453 of its ordinary shares under its share repurchase program for a total consideration of $1.2 million.
In July 2024, the Company received court approval in Israel to purchase up to an aggregate amount of $20 million of additional ordinary shares. The court approval also permits AudioCodes to declare a dividend out of any part of this amount. The approval is valid through January 1, 2025.
Cash Dividend
AudioCodes also announced today that the Company’s Board of Directors has declared a cash dividend in the amount of 18 cents per share. The aggregate amount of the dividend is approximately $5.5 million. The dividend is payable on August 29, 2024, to all of the Company’s shareholders of record at the close of trading on the NASDAQ Global Select Market on August 15, 2024.
In accordance with Israeli tax law, the dividend is subject to withholding tax at source at the rate of 25% of the dividend amount payable to each shareholder of record, subject to applicable exemptions. If the recipient of the dividend is at the time of distribution or was at any time during the preceding 12-month period the holder of 10% or more of the Company’s share capital, the withholding rate is 30%.
The dividend will be paid in U.S. dollars on the ordinary shares of AudioCodes Ltd. that are traded on the Nasdaq Global Select Market or the Tel-Aviv Stock Exchange. The amount and timing of any other dividends will be determined by the Board.
Conference Call & Web Cast Information
AudioCodes will conduct a conference call at 8:30 A.M., Eastern Time today to discuss the Company’s second quarter of 2024 operating performance, financial results and outlook. Interested parties may participate in the conference call by dialing one the following numbers:
United States Participants: 888-506-0062
International Participants: +1 (973) 528-0011
The conference call will also be simultaneously webcast. Investors are invited to listen to the call live via webcast at the AudioCodes investor website at http://www.audiocodes.com/investors-lobby.
Follow AudioCodes’ social media channels:
AudioCodes invites you to join our online community and follow us on: AudioCodes Voice Blog, LinkedIn, Twitter, Facebook, and YouTube.
About AudioCodes
AudioCodes Ltd. (NASDAQ, TASE: AUDC) is a leading vendor of advanced communications software, products and productivity solutions for the digital workplace. AudioCodes enables enterprises and service providers to build and operate all-IP voice networks for unified communications, contact centers, and hosted business services. AudioCodes offers a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world.
For more information on AudioCodes, visit http://www.audiocodes.com.
Statements concerning AudioCodes’ business outlook or future economic performance; product introductions and plans and objectives related thereto; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements” as that term is defined under U.S. Federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to: the effect of global economic conditions in general and conditions in AudioCodes’ industry and target markets in particular; shifts in supply and demand; market acceptance of new products and the demand for existing products; the impact of competitive products and pricing on AudioCodes’ and its customers’ products and markets; timely product and technology development, upgrades and the ability to manage changes in market conditions as needed; possible need for additional financing; the ability to satisfy covenants in the Company’s loan agreements; possible disruptions from acquisitions; the ability of AudioCodes to successfully integrate the products and operations of acquired companies into AudioCodes’ business; possible adverse impact of the COVID-19 pandemic on our business and results of operations; the effects of the current terrorist attacks by Hamas in Israel, and the war and hostilities between Israel and Hamas, and Israel and Hezbollah as well as the possibility that this could develop into a broader regional conflict involving Israel with other parties, may affect our operations and may limit our ability to produce and sell our solutions; any disruption in our operations by the obligations of our personnel to perform military service as a result of current or future military actions involving Israel; and other factors detailed in AudioCodes’ filings with the U.S. Securities and Exchange Commission. AudioCodes assumes no obligation to update the information in this release.
©2024 AudioCodes Ltd. All rights reserved. AudioCodes, AC, HD VoIP, HD VoIP Sounds Better, IPmedia, Mediant, MediaPack, What’s Inside Matters, OSN, SmartTAP, User Management Pack, VMAS, VoIPerfect, VoIPerfectHD, Your Gateway To VoIP, 3GX, VocaNom, AudioCodes One Voice, AudioCodes Meeting Insights, AudioCodes Room Experience are trademarks or registered trademarks of AudioCodes Limited. All other products or trademarks are property of their respective owners. Product specifications are subject to change without notice.
Summary financial data follows
AUDIOCODES LTD. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
June 30,
December 31,
2024
2023
(Unaudited)
(Audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$ 20,849
$ 30,546
Short-term and restricted bank deposits
206
212
Short-term marketable securities
21,113
7,438
Trade receivables, net
55,010
51,125
Other receivables and prepaid expenses
9,146
9,381
Inventories
37,893
43,959
Total current assets
144,217
142,661
LONG-TERM ASSETS:
Long-term Trade receivables
$ 16,680
$ 16,798
Long-term marketable securities
48,944
65,732
Long-term financial investments
2,557
2,730
Deferred tax assets
5,966
6,208
Operating lease right-of-use assets
34,263
36,712
Severance pay funds
16,975
17,202
Total long-term assets
125,385
145,382
PROPERTY AND EQUIPMENT, NET
21,846
10,893
GOODWILL, INTANGIBLE ASSETS AND OTHER, NET
38,315
38,581
Total assets
$ 329,763
$ 337,517
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Trade payables
5,102
7,556
Other payables and accrued expenses
26,369
29,943
Deferred revenues
39,988
38,820
Short-term operating lease liabilities
5,931
7,878
Total current liabilities
77,390
84,197
LONG-TERM LIABILITIES:
Accrued severance pay
$ 15,956
$ 16,662
Deferred revenues and other liabilities
17,277
17,142
Long-term operating lease liabilities
31,024
31,404
Total long-term liabilities
64,257
65,208
Total shareholders’ equity
188,116
188,112
Total liabilities and shareholders’ equity
$ 329,763
$ 337,517
AUDIOCODES LTD. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. dollars in thousands, except per share data
Six months ended
Three months ended
June 30,
June 30,
2024
2023
2024
2023
(Unaudited)
(Unaudited)
Revenues:
Products
$ 56,897
$ 60,260
$ 28,347
$ 31,567
Services
63,482
58,973
31,956
28,453
Total Revenues
120,379
119,233
60,303
60,020
Cost of revenues:
Products
22,743
25,221
10,918
12,177
Services
19,494
18,992
9,910
9,366
Total Cost of revenues
42,237
44,213
20,828
21,543
Gross profit
78,142
75,020
39,475
38,477
Operating expenses:
Research and development, net
27,114
29,403
13,181
14,394
Selling and marketing
34,820
35,526
17,453
17,679
General and administrative
7,991
8,680
3,905
4,149
Total operating expenses
69,925
73,609
34,539
36,222
Operating income
8,217
1,411
4,936
2,255
Financial income (expenses), net
419
1,196
396
247
Income before taxes on income
8,636
2,607
5,332
2,502
Taxes on income, net
(2,779)
(1,734)
(1,558)
(1,447)
Net income
$ 5,857
$ 873
$ 3,774
$ 1,055
Basic net earnings per share
$ 0.19
$ 0.03
$ 0.12
$ 0.03
Diluted net earnings per share
$ 0.19
$ 0.03
$ 0.12
$ 0.03
Weighted average number of shares used in
computing basic net earnings per share (in
thousands)
30,337
32,024
30,341
31,900
Weighted average number of shares used in
computing diluted net earnings per share (in
thousands)
30,764
33,017
30,735
32,977
AUDIOCODES LTD. AND ITS SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME
U.S. dollars in thousands, except per share data
Six months ended
Three months ended
June 30,
June 30,
2024
2023
2024
2023
(Unaudited)
(Unaudited)
GAAP net income
$ 5,857
$ 873
$ 3,774
$ 1,055
GAAP net earnings per share
$ 0.19
$ 0.03
$ 0.12
$ 0.03
Cost of revenues:
Share-based compensation (1)
175
210
96
103
Amortization expenses (2)
244
257
122
122
Lease expenses (6)
304
–
–
–
723
467
218
225
Research and development, net:
Share-based compensation (1)
1,171
1,441
579
698
Deferred payments expenses (3)
–
250
–
125
Lease expenses (6)
342
–
–
–
1,513
1,691
579
823
Selling and marketing:
Share-based compensation (1)
1,472
2,330
749
1,093
Amortization expenses (2)
22
22
11
11
Deferred payments expenses (3)
–
250
–
125
Lease expenses (6)
38
–
–
–
1,532
2,602
760
1,229
General and administrative:
Share-based compensation (1)
1,434
2,428
692
1,169
Lease expenses (6)
76
–
–
–
1,510
2,428
692
1,169
Financial expenses (income):
Exchange rate differences (4)
(809)
(470)
(445)
71
Income taxes:
Taxes on income, net (5)
422
224
(49)
562
Non-GAAP net income
$ 10,748
$ 7,815
$ 5,529
$ 5,134
Non-GAAP diluted net earnings per share
$ 0.34
$ 0.24
$ 0.18
$ 0.16
Weighted average number of shares used in computing
Non-GAAP diluted net earnings per share (in thousands)
31,561
32,977
31,552
33,017
(1) Share-based compensation expenses related to options and restricted share units granted to employees and others.
(2) Amortization expenses related to intangible assets.
(3) Expenses related to deferred payments in connection with the acquisition of Callverso Ltd.
(4) Financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies.
(5) Tax impact which relates to our non-GAAP adjustments.
(6) In Q1 2024, non-cash lease expense which is required to be recorded during the quarter even though this is a free rent period under the lease for the Company’s new headquarters.
Note: Non-GAAP measures should be considered in addition to, and not as a substitute for, the results prepared in accordance with GAAP. The Company believes that non-GAAP information is useful because it can enhance the understanding of its ongoing economic performance and therefore uses internally this non-GAAP information to evaluate and manage its operations. The Company has chosen to provide this information to investors to enable them to perform comparisons of operating results in a manner similar to how the Company analyzes its operating results and because many comparable companies report this type of information.
AUDIOCODES LTD. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
U.S. dollars in thousands
Six months ended
Three months ended
June 30,
June 30,
2024
2023
2024
2023
(Unaudited)
(Unaudited)
Cash flows from operating activities:
Net income
$ 5,857
$ 873
$ 3,774
$ 1,055
Adjustments required to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
1,784
1,320
1,261
669
Amortization of marketable securities premiums and accretion of discounts, net
615
712
301
340
Decrease in accrued severance pay, net
(479)
(272)
(369)
(288)
Share-based compensation expenses
4,252
6,409
2,116
3,063
Decrease in deferred tax assets, net
64
168
850
534
Cash financial loss (income), net
154
(332)
69
58
Decrease in operating lease right-of-use assets
3,557
4,282
1,168
2,132
Decrease in operating lease liabilities
(3,435)
(4,355)
(1,324)
(818)
Decrease (increase) in trade receivables, net
(3,767)
6,939
(6,083)
428
Decrease (increase) in other receivables and prepaid expenses
235
1,911
(305)
1,727
Decrease (increase) in inventories
5,947
(9,512)
2,689
(3,746)
Decrease in trade payables
(2,454)
(4,218)
(2,220)
(3,462)
Increase (decrease) in other payables and accrued expenses
(1,605)
(4,934)
127
(869)
Increase (decrease) in deferred revenues
1,365
6,443
(4,945)
1,383
Net cash provided by operating activities
12,090
5,434
(2,891)
2,206
Cash flows from investing activities:
Proceeds from short-term deposits
6
5,006
2
2
Proceeds from financial investment
47
–
26
–
Proceeds from redemption of marketable securities
3,450
2,000
2,950
1,000
Proceeds from redemption of financial investments
–
11,043
–
8,294
Purchase of property and equipment
(15,263)
(3,263)
(8,478)
(1,947)
Net cash provided by (used in) investing activities
(11,760)
14,786
(5,500)
7,349
AUDIOCODES LTD. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
U.S. dollars in thousands
Six months ended
Three months ended
June 30,
June 30,
2024
2023
2024
2023
(Unaudited)
(Unaudited)
Cash flows from financing activities:
Purchase of treasury shares
(4,754)
(2,926)
(1,170)
(2,926)
Cash dividends paid to shareholders
(5,453)
(5,718)
–
–
Proceeds from issuance of shares upon exercise of options
180
114
–
18
Net cash used in financing activities
(10,027)
(8,530)
(1,170)
(2,908)
Net increase (decrease) in cash, cash equivalents, and restricted cash
(9,697)
11,690
(9,561)
6,647
Cash, cash equivalents and restricted cash at beginning of period
30,546
24,535
30,410
29,578
Cash, cash equivalents and restricted cash at end of period
$ 20,849
$ 36,225
$ 20,849
$ 36,225
Company Contacts
Niran Baruch,
Chief Financial Officer
AudioCodes
Tel: +972-3-976-4000
niran.baruch@audiocodes.com
Roger L. Chuchen,
VP, Investor Relations
AudioCodes
Tel: 732-764-2552
roger.chuchen@audiocodes.com
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AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future
Published
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July 18, 2026By
Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda
BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.
Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.
Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.
VOICES FROM THE SUMMIT
“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei
“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand
“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA
“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF
“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)
“We fixed it before you feel it! AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS
“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia
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— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia
“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom
“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei
“Connectivity is not just about technology. It is a lifeline, a platform for opportunity, and a driver of sustainable development. I believe the intersection of connectivity and artificial intelligence will shape the future of smarter, more resilient networks.”
— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU
“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)
“At the summit, NIDA and WBBA signed an MOU to accelerate next-generation network evolution and establish pioneering smart city benchmarks through the co-development of industry standards, the harmonization of global regulations, and the sharing of vertical industry insights.
NIDA focuses on advancing network architecture standards, while WBBA drives global consensus on broadband evolution. This natural strategic complementarity creates vast opportunities for future collaboration.”
— Joey Deng, Secretary-General of NIDA
“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
— Dr. Marcus Brunner, Chief Expert Standardization, WBBA WG1 Chair and Vice-Chair of ETSI ISG F5G
“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA
“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International
“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT
“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
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“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei
A CONVERGING VIEW
Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.
WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.
In another high-profile segment, WBBA Director General Martin Creaner presented the Gigacity Certification to KOMDIGI, SURGE, Telkomsel, AIS, TRUE, HKT and Globe, recognizing regional broadband pioneers.
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SOURCE HUAWEI
Technology
Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer
Published
8 hours agoon
July 18, 2026By
Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.
NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.
The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.
Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”
Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.
The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.
The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.
For more information on Laifen, please visit LaifenTech.com.
About Laifen:
Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.
Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.
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SOURCE Laifen
NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.
For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html.
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SOURCE Pillsbury Winthrop Shaw Pittman LLP
AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future
Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer
Pillsbury Notice of Data Breach
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