Technology

GBank Financial Holdings Inc. Announces Second Quarter 2024 Financial Results

Published

2 years ago

July 30, 2024

LAS VEGAS, July 30, 2024 /PRNewswire/ — GBank Financial Holdings Inc. (the “Company”) (OTCQX: GBFH), the parent company of GBank (the “Bank”), today reported record net income for the quarter ended June 30, 2024, of $4.7 million, or $0.35 per diluted share. This represents an increase from $2.3 million, or $0.18 per diluted share, for the same period in 2023. For the six months ended June 30, 2024, net income was $8.4 million, or $0.63 per diluted share, compared to $5.6 million, or $0.43 per diluted share, for the comparable period of 2023.

Click here: Quarterly Detailed Financials and Key Metrics

Financial Highlights

Record net income of $4.7 million and diluted earnings per share of $0.35Record net revenue of $15.5 millionGain on sale of loans of $3.2 million, representing an increase of $1.1 million, or 52%, compared to the first quarter of 2024Net interest margin of 4.82%Gross loan growth of $35.6 million, or 5% sequentiallyTotal on-balance sheet guaranteed loans of $252.2 millionLoans sold of $77.9 million, an increase of $9.3 million, or 14%, compared to the first quarter of 2024, and an increase of $42.2 million, or 118%, compared to the second quarter of 2023Total non-performing assets were $7.6 million, representing 0.75% of total assetsNon-performing assets, excluding guaranteed portions, were $2.2 million, representing 0.22% of total assets

Edward M. Nigro, Executive Chairman, stated, “This quarter marks significant milestones for our Company – $1 billion in total assets – the most profitable quarter in history – and the completion of our 32.99% investment in BCS. These are all powerful foundations for our future growth.”

Non-voting Equity Investment in BankCard Services, LLC

On June 26, 2024, the Company announced the acquisition of a 32.99% non-voting equity interest in BankCard Services, LLC (“BCS“). This acquisition was completed by exchanging 231,508 shares of restricted, non-voting GBFH common stock for 143,371 shares of non-voting BCS common stock. The GBFH non-voting stock must be held by BCS for a minimum of one year and can only be converted into voting shares upon a disposition by BCS, in accordance with applicable Federal Reserve regulations.

Financial Results

Income Statement

Net interest income totaled $11.3 million in the second quarter of 2024, an increase of $546 thousand, or 5.1%, from $10.8 million in the first quarter of 2024, and an increase of $2.6 million, or 29.9%, compared to the second quarter of 2023. The increase in net interest income from the first quarter of 2024 was primarily due to higher average loan balances, partially offset by an increase in deposit balances and rates. The increase in net interest income from the second quarter of 2023 was driven by an increase in average loan balances and yields, along with a decrease in lower-yield investment securities. These increases were partially offset by higher balances and rates on deposits.

The Company recorded a provision for credit losses on loans of $283 thousand in the second quarter of 2024, compared to no provision recorded in the first quarter of 2024, and a decrease of $125 thousand from $408 thousand in the second quarter of 2023. The provision for credit losses on loans in the second quarter of 2024 primarily reflects growth in non-guaranteed loans.

The Company’s net interest margin in the second quarter of 2024 was 4.82%, a decrease from 4.85% in the first quarter of 2024, and a decrease from 5.40% in the second quarter 2023. The decrease in net interest margin from the first quarter of 2024 was primarily due to higher balances and rates on interest-bearing deposits. The decrease in net interest margin from the second quarter 2023 was also driven by higher balances and rates on interest-bearing deposits, which offset higher balances and rates on total earning assets.

Non-interest income was $4.2 million for the second quarter of 2024, compared to $2.4 million for the first quarter of 2024, and $2.3 million for the second quarter of 2023. The $1.8 million increase in non-interest income from the first quarter of 2024 was primarily due to a $1.1 million increase in income from gain on sale of loans and a $474 thousand increase in loan servicing income. The $1.9 million increase in non-interest income from the second quarter of 2023 was mainly driven by a $1.5 million increase in income from gain on sale of loans.

Net revenue totaled $15.5 million for the second quarter of 2024, representing an increase of $2.3 million or 17.5%, compared to $13.2 million in the first quarter of 2024. This also marks an increase of $4.5 million, or 40.9%, compared to $11.1 million in the second quarter of 2023.

Non-interest expense was $9.1 million for the second quarter of 2024, compared to $8.4 million for the first quarter of 2024 and $7.6 million for the second quarter of 2023. The Company’s efficiency ratio was 58.9% for the second quarter of 2024, compared to 63.4% in the first quarter of 2024 and 69.0% for the second quarter of 2023. The increase in non-interest expense from the first quarter of 2024 is primarily due to an increase of $462 thousand in employee compensation costs, largely driven by higher incentive commissions on increased loan origination volume during the quarter by the Bank’s SBA Lending Division. Additionally, there were non-recurring expenses of approximately $268 thousand related to the Company’s non-voting equity investment in BCS. The increase in non-interest expense from the second quarter of 2023 is also primarily attributable to a $1.1 million increase in employee compensation costs, again largely due to higher incentive commissions on increased loan origination volume, as well as the aforementioned non-recurring expenses.

Income tax expense was $1.4 million for the second quarter of 2024, compared to $1.1 million for the first quarter of 2024 and $725 thousand for the second quarter of 2023. The increase in income tax expense from both the first quarter of 2024 and the second quarter of 2023 is primarily due to increased earnings. The increase in income tax expense from the second quarter of 2023 was partially offset by a decrease in the effective tax rate, which declined to 23.2% from 24.0%.

Net income was $4.7 million for the second quarter of 2024, an increase of $975 thousand from $3.7 million for the first quarter of 2024, and an increase of $2.4 million from $2.3 million in the second quarter of 2023. Earnings per share totaled $0.35 for the second quarter of 2024, compared to $0.28 for the first quarter of 2024 and $0.18 for the second quarter of 2023.

The Company had 155 full-time equivalent employees as of June 30, 2024, compared to 150 full-time equivalent employees as of March 31, 2024, and 158 full-time equivalent employees as of June 30, 2023.

Balance Sheet

Total gross loans were $812.3 million as of June 30, 2024, compared to $776.7 million as of March 31, 2024, and $458.0 million as of June 30, 2023. The increase in gross loans of $35.6 million from the prior quarter was primarily driven by an increase of $43.1 million in commercial real estate loans, partially offset by decreases of $4.4 million in guaranteed loans held for sale and $3.0 million in guaranteed loans held for investment. The increase in gross loans of $354.2 million from June 30, 2023, was primarily driven by increases of $212.9 million in guaranteed loans held for investment and $123.9 million in commercial real estate loans. This increase was partially offset by a decrease of $8.3 million in guaranteed loans held for sale. Total guaranteed loans as a percentage of gross loans were 31.0% as of June 30, 2024, compared to 33.4% as of March 31, 2024, and 10.4% as of June 30, 2023.

The Company’s allowance for credit losses totaled $7.3 million as of June 30, 2024. The allowance for loan losses as a percentage of total gross loans was 0.90% as of June 30, 2024, compared to 0.91% as of March 31, 2024, and 1.56% as of June 30, 2023. The allowance for loan losses as a percentage of total net loans, excluding guaranteed portions, was 1.31% as of June 30, 2024, compared to 1.37% as of March 31, 2024, and 1.76% as of June 30, 2023.

Deposits totaled $840.4 million as of June 30, 2024, an increase of $33.4 million from $806.9 million as of March 31, 2024, and an increase of $287.9 million from $552.5 million as of June 30, 2023. By deposit type, the increase from the prior quarter was driven by an increase of $22.6 million in savings and money market accounts and a $5.4 million increase in certificates of deposit. From June 30, 2023, certificates of deposit increased by $225.0 million, and savings and money market accounts increased by $74.0 million. Non-interest bearing deposits totaled $220.4 million as of June 30, 2024, an increase of $4.1 million from $216.3 million as of March 31, 2024, and an increase of $2.1 million from $218.3 million as of June 30, 2023.

The Company’s ratio of gross loans to deposits was 96.7% as of June 30, 2024, compared to 96.3% as of March 31, 2024, and 82.9% as of June 30, 2023.

Short-term borrowings were $12.0 million as of June 30, 2024, compared to $10.0 million as of March 31, 2024, and no short-term borrowings as of June 30, 2023. The Company had approximately $454 million in available borrowing capacity from the Federal Reserve Bank, the Federal Home Loan Bank, and through its various Fed Funds lines as of June 30, 2024.

Subordinated notes totaled $26.1 million as of June 30, 2024, compared to $26.0 million as of March 31, 2024, and June 30, 2023.

Stockholders’ equity was $110.9 million as of June 30, 2024, compared to $102.6 million as of March 31, 2024, and $92.6 million as of June 30, 2023. The increase in stockholders’ equity from March 31, 2024, and June 30, 2023, is attributable to net income and an increase in common stock and paid-in capital resulting from the issuance of non-voting common shares related to the Company’s investment in BCS during the second quarter 2024.

The Company’s tangible common equity to tangible assets ratio was 11.0% as of June 30, 2024, compared to 10.6% as of March 31, 2024, and 13.5% as of June 30, 2023. The Bank’s Tier 1 leverage ratio was 12.9% as of June 30, 2024, compared to 13.0% as of March 31, 2024, and 15.9%as of June 30, 2023. The Company’s tangible book value per share was $8.49 as of June 30, 2024, an increase of 6.2% from $8.00 as of March 31, 2024, and an increase of 16.5% from $7.29 as of June 30, 2023. The increase in tangible book value per share from March 31, 2024, and June 30, 2023, is attributable to net income as well as the increase in common stock and paid-in capital resulting from the issuance of non-voting common shares related to the Company’s investment in BCS during the second quarter 2024.

Total assets increased 4.8% to $1.0 billion as of June 30, 2024, from $963.5 million as of March 31, 2024, and increased 47.4% from $684.9 million as of June 30, 2023. The increase in total assets from March 31, 2024, was primarily driven by an increase in gross loans and interest-bearing deposit cash equivalents, partially offset by a decrease in investment securities. The increase in total assets from June 30, 2023, was primarily driven by an increase in gross loans, partially offset by a decrease in investment securities.

Asset Quality

The provision for credit losses on loans totaled $283 thousand for the second quarter of 2024, compared to no provision for the first quarter of 2024 and $408 thousand for the second quarter of 2023. Net loan charge-offs in the second quarter of 2024 totaled $29 thousand, or 0.01% of average net loans (annualized), compared to no net loan charge-offs in the first quarter of 2024 and $100 thousand, or 0.09% of average net loans (annualized), in the second quarter of 2023.

Nonaccrual loans increased by $374 thousand to $6.5 million during the second quarter and decreased by $648 thousand from June 30, 2023. Loans past due 90 days and still accruing interest increased to $1.1 million compared to $33 thousand at March 31, 2024, and no loans past due 90 days and still accruing interest as of June 30, 2023.

There was no other real estate owned as of June 30, 2024, March 31, 2024, and June 30, 2023.

Total non-performing assets totaled $7.6 million as of June 30, 2024, an increase of $1.5 million from $6.1 million as of March 31, 2024, and an increase of $494 thousand from $7.1 million as of June 30, 2023. Non-performing assets, excluding guaranteed portions, totaled $2.2 million as of June 30, 2024, an increase of $659 thousand from $1.6 million as of March 31, 2024, and an increase of $362 thousand from $1.9 million as of June 30, 2023.

Loans past due 30-89 days and still accruing interest totaled $1.1 million as of June 30, 2024, a decrease from $3.4 million as of March 31, 2024, and a decrease from $3.1 million as of June 30, 2023.

The ratio of total non-performing assets to total assets was 0.75% as of June 30, 2024, compared to 0.64% as of March 31, 2024, and 1.04% as of June 30, 2023. The ratio of non-performing assets, excluding guaranteed portions, to total assets was 0.22% as of June 30, 2024, compared to 0.16% as of March 31, 2024, and 0.27% as of June 30, 2023.

Segment Highlights

SBA Lending and Commercial Banking

Loan originations by the Bank’s SBA and Commercial Banking Divisions totaled $126.9 million, compared to $136.6 million in the first quarter of 2024 and $80.2 million in the second quarter 2023. Loan sale volume increased by 14% to $77.9 million, compared to $68.6 million in the first quarter of 2024, and increased by 118% from $35.7 million in the second quarter of 2023. Gain on sale of loans increased by 52% to $3.2 million, compared to $2.1 million in the first quarter of 2024, and increased 96% from $1.6 million in the second quarter of 2023. The average pretax gain on sale of loans margin was 4.36%, compared to 3.04% in the first quarter of 2024, and 4.53% in the second quarter of 2023.

Gaming FinTech

GBank’s partner, BankCard Services, LLC (“BCS”), has been actively developing its Pooled Player and Pooled Consumer Accounts “Powered by PIMS and CIMS”™, recently securing its third patent for this intellectual property. BCS is carving out a niche by referring startup digital wallet companies in both gaming and consumer programs/applications. BCS and GBank now have 14 active prepaid access and PPA/PCA clients. Currently, BCS and GBank are conducting due diligence for 4 new prepaid access and PPA/PCA clients, with anticipated onboarding in future quarters. Gaming FinTech deposits averaged $32.4 million during the quarter, compared to $34.1 million in the first quarter of 2024.

Credit Card

The Bank launched its GBank Visa Signature® Card in the second quarter of 2023. The GBank Visa Signature® Card targets prime and super-prime consumers, offering 1% cash rewards on gaming transactions and 2% cash rewards on all other purchases. Since the product launch in 2023, the Bank has entered into several marketing referral agreements, with four such agreements in place as of June 30, 2024.

Credit card balances were $919 thousand as of June 30, 2024, compared to $439 thousand as of March 31, 2024. Total open credit card lines were $3.7 million as of June 30, 2024, compared to $2.1 million as of March 31, 2024. Through July 11, 2024, the Bank has processed over $10 million in gaming transactions through its credit card product.

Earnings Call

The Company will host its Q2 2024 quarterly earnings call on Wednesday, July 31, 2024, at 2:00 p.m. PST. Interested parties can participate remotely via Internet connectivity. There will be no physical location for attendance.

Interested parties may join online, via the ZOOM app on their smartphones, or by telephone:

ZOOM Video Conference ID 826 3030 7240Passcode: 549549

Joining by ZOOM Video Conference:

Log in on your computer at
https://us02web.zoom.us/j/82630307240?pwd=TU4yZXJqMEc2VGZoUm5rRTl0OVFxdz09
or use the ZOOM app on your smartphone.

Joining by Telephone

Dial (408) 638-0968. The conference ID is 826 3030 7240. Passcode: 549549.

Click here to learn more about GBank Financial Holdings Inc.

Cautionary Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding certain of the Company’s goals and expectations with respect to future events that are subject to various risks and uncertainties, and statements preceded by, followed by, or that include the words “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions. These statements are based upon the current belief and expectations of the Company’s management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include, but are not limited to: the impact on us or our customers of a decline in general economic conditions and any regulatory responses thereto; potential recession in the United States and our market areas; the impacts related to or resulting from bank failures and any continuation of uncertainty in the banking industry, including the associated impact to the Company and other financial institutions of any regulatory changes or other mitigation efforts taken by government agencies in response thereto; increased competition for deposits and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to continued elevated interest rates or potential reductions in interest rates and a resulting decline in net interest income; the persistence of the inflationary pressures, or the resurgence of elevated levels of inflation, in the United States and our market areas; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; effects of declines in housing prices in the United States and our market areas; increases in unemployment rates in the United States and our market areas; declines in commercial real estate values and prices; uncertainty regarding United States fiscal debt and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events; regulatory considerations; our ability to recognize the expected benefits and synergies of our completed acquisitions; the maintenance and development of well-established and valued client relationships and referral source relationships; acquisition or loss of key production personnel; changes in tax laws; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential increased regulatory requirements and costs related to the transition and physical impacts of climate change; and current or future litigation, regulatory examinations or other legal and/or regulatory actions. These forward-looking statements are based on current information and/or management’s good faith belief as to future events. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans, or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The forward-looking statements are made as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. All forward-looking statements, express or implied, included in the press release are qualified in their entirety by this cautionary statement.

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SOURCE GBank Financial Holdings Inc.

Technology

Electrosoft Celebrates 25 Years of Federal Cybersecurity Innovation and Impact

Published

35 minutes ago

April 21, 2026

Founding CEO Dr. Sarbari Gupta reflects on firm’s evolution and sets the course for its next chapter

RESTON, Va., April 21, 2026 /PRNewswire/ — Electrosoft Services, LLC, a leading provider of federal cybersecurity and digital transformation services, today announced its 25th anniversary, marking a quarter century of innovation and partnership in support of government missions. Founded in 2001 and led by its founding CEO, Dr. Sarbari Gupta, the company has grown from a small, focused team into a trusted partner on some of the federal government’s most consequential cybersecurity and digital engineering programs.

“I founded Electrosoft because I believed federal agencies deserved a cybersecurity partner that would grow with them through every shift in technology and every evolution in the threat environment. Twenty-five years in, that belief has only gotten stronger,” said Dr. Gupta. “What fills me with the most pride isn’t the milestone itself, but the trust we’ve built and the team that earned it.”

Electrosoft’s journey began with its first prime contract at NIST in 2001. Years later, company experts became named authors of NIST special publications on digital identity. That foundation has expanded into support for federal civilian and defense agencies such as DLA, USTRANSCOM, GSA, Treasury and HHS, as well as multiple-award vehicles including GSA OASIS+, DLA JETS 2.0, NIST CAPSS, Treasury PROTECTS and CISA DTSS.

Over the years, the company has been consistently recognized as a top workplace, fast-growing company and technology thought leader.

Recent milestones include several significant contract and contract vehicle wins from HHS, Treasury and CISA and a 2025 strategic investment from DigitalNet.ai that supports expanded capabilities in artificial intelligence while preserving the independent leadership and customer continuity that have defined the firm.

As Electrosoft enters its next chapter, the company’s integrated delivery model unifies cybersecurity, digital engineering and AI to meet the evolving demands of federal missions.

For more information, read Electrosoft’s 25th Anniversary newsletter.

About Electrosoft Services

Electrosoft is a cybersecurity, digital engineering and intelligent automation firm delivering secure, scalable solutions for federal agencies. With 25 years of experience, the award-winning company combines deep mission expertise with modern engineering practices to help agencies operate securely, modernize with confidence and accelerate operational performance. Electrosoft is headquartered in Reston, Virginia. www.electrosoft-inc.com

Press Contact
Jeanne Zepp
jzepp@electrosoft-inc.com

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SOURCE Electrosoft Services, LLC

Technology

Almost 80% of Gen Z and Millennials Use ‘Survival Spending’

Published

35 minutes ago

April 21, 2026

New Survey from Beyond Finance and Operation HOPE reveals young Americans are focusing on immediate priorities and real-world decisions over long-term financial ideals

45% would use tax refunds for bills or debt, 77% rely on short-term financial strategies like Buy Now Pay Later for essentials, 39% are turning to AI to guide money decisions, and 73% want to know someone’s exact financial situation before the third date

CHICAGO and ATLANTA, April 21, 2026 /PRNewswire/ — Almost 80% of Gen Z and Millennials use ‘survival spending’ to get by in today’s economy with nearly half of Gen Z and Millennials indicating they would use a tax refund to cover bills or pay down debt, 77% relying on short-term financial strategies like Buy Now, Pay Later for essentials, and 39% turning to AI to guide money decisions. As part of its annual Financial Practice Week, Beyond Finance partnered with leading financial literacy nonprofit Operation HOPE to examine how young Americans are actually managing money, finding a clear break from traditional financial practice as they cope with the current economic landscape.

The research challenges the idea that younger generations are abandoning financial responsibility. Instead, it shows a generation actively adapting, making decisions that prioritize immediate needs, flexibility, and informed tradeoffs. While 7 in 10 say wealth-building feels out of reach, their actions tell a more defining story: Financial strategy today is less about getting ahead and more about staying in control. From how they allocate income to how they seek advice — including 73% who want full financial transparency before the third date — Gen Z and Millennials are building financial practices grounded in adaptability, prioritization, and real-world decision-making.

These additional findings follow recent Financial Literacy Month news on the rise of ‘survival spending,’ and give us a closer look at how Gen Z and Millennials are actually managing money, making tradeoffs, and navigating financial decisions day to day.

A Shift Toward Immediate Financial Priorities

Tax refunds used for survival, not splurging: 45% would put the money toward bills or debt, and less than 4% would spend it on travel or leisure.

‘Survival spending’ has become a financial strategy: Nearly 77% report using tactics like Buy Now, Pay Later for essentials, reflecting a shift toward short-term financial management.

Side hustles are now part of the baseline financial plan: 71% say additional income is necessary just to keep up.

Experiences over savings: 59% say spending on meaningful experiences today feels more practical than saving for long-term goals that seem increasingly out of reach, with 65% feeling uncertain whether traditional retirement planning will deliver real security.

Redefining Financial Practices

Peer-to-Peer learning on the rise: Financial practice is becoming more social. Gen Z is now more likely to consult social media experts (24%) than they are their parents (21%) to refine their money strategies.

Financial silence is waning: The practice of “financial silence” is disappearing, with 73% of respondents wanting to know someone’s exact financial situation before the third date.

The Rise of Real-Time Financial Decision-Making

AI is becoming a financial co-pilot: 39% are already using AI to budget or inform financial decisions, often running “what if” scenarios before taking action.

Hybrid decision-making is emerging as the norm: Many are combining AI insights with human advice, creating more personalized, responsive approaches to money management.

Digital tools are reshaping engagement: 16% use apps that gamify saving and spending, reinforcing financial habits through continuous interaction.

“Gen Z and Millennials aren’t failing at money. The system they inherited has changed, and they’re responding in real time,” said Dr. Erika Rasure, chief financial wellness advisor at Beyond Finance. “What we’re seeing is a generation shifting from long-term financial ideals to daily financial practices, such as using windfalls to stabilize, leaning on tools like AI to make decisions, and prioritizing what’s immediately within their control. That adaptability isn’t a weakness — it’s a new form of financial resilience.”

Despite these challenges, younger generations remain highly engaged, adapting their behaviors and redefining what financial success looks like in today’s environment.

“Every generation must answer the economic test of its time, and this generation is no different. Gen Z and Millennials are not walking away from success. They are searching for a model that speaks to their lived reality, their struggle, and their hope. The old rules alone cannot carry them where they need to go. We must give them something deeper than theory. We must restore their sense of unlimited possibility, backed with vision, tools, and a pathway. At Operation HOPE, we believe financial literacy is the new civil rights issue of our time. And our calling is to help this generation move from uncertainty to confidence, from surviving to thriving, and from financial stress to lasting wealth—so they can build not just a living, but a future,” said John Hope Bryant, founder, chairman, and CEO of Operation HOPE.

Redefining Hope for a New Financial Reality

Held during the last week of Financial Literacy Month, Beyond Finance’s Financial Practice Week is an initiative designed to help people reconnect with their financial power by building personalized, emotionally grounded practices. To examine your money mindset further, explore a money management guide from Beyond Finance and then take Operation HOPE’s quizzes, AI video training, and micro-courses.

This survey was commissioned by Beyond Finance in collaboration with Operation HOPE, and conducted by QuestionPro, a third-party research company, from March 16 – 18, 2026, with a collective sample of 2,000 Millennial (born 1981 to 1996) and Gen Z adults (born 1997-2008) Americans. An executive summary of the findings can be found here. Full research findings are available upon request.

About Beyond Finance

Beyond Finance, LLC, is the nation’s largest debt consolidation company. In its commitment to providing clients with a personalized approach to move beyond debt, Beyond Finance provides simple and transparent solutions that help consumers lower their eligible monthly payments, reduce the impact of interest, and reach a debt-free life sooner. Beyond Finance holds an A+ rating with the Better Business Bureau and has been awarded with multiple recognitions for its commitment to clients: Organization of the Year – The Business Intelligence Group’s Excellence in Customer Service Award, Gold Stevie Award for Outstanding Customer Service Department, Banking Tech Award – Financial Wellness Champion, Best In Biz Gold Award for top Customer Service Team, and 3 ConsumerAffairs’ “Buyer’s Choice Awards.” Beyond Finance has offices in Chicago, Atlanta, and Houston. For more information, visit BeyondFinance.com.

About Operation HOPE, Inc.

Since 1992, Operation HOPE has been moving America from civil rights to “silver rights” with the mission of making free enterprise and capitalism work for the underserved—disrupting poverty for millions of low and moderate-income youth and adults across the nation. Through its community uplift model, HOPE Inside, which received the 2016 Innovator of the Year recognition by American Banker magazine, Operation HOPE has served more than 4 million individuals and directed more than $4.2 billion in economic activity into disenfranchised communities—turning check-cashing customers into banking customers, renters into homeowners, small business dreamers into small business owners, minimum wage workers into living wage consumers, and uncertain disaster victims into financially empowered disaster survivors. For more information visit OperationHOPE.org. Follow the HOPE conversation on Twitter, Facebook, Instagram, or LinkedIn.

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SOURCE Beyond Finance

Technology

Sidekick Health Expands Its Intelligent Care Platform with MSK, Advancing Its Solutions for Rising Risk and Multi-Condition Care Complexity

Published

35 minutes ago

April 21, 2026

The new program joins 24+ conditions plus medication support in one platform, giving health plans and employers a single solution for their most complex and costliest populations

NEW YORK, April 21, 2026 /PRNewswire/ — Sidekick Health, a digital health innovation company, today announced the launch of its musculoskeletal (MSK) health program and pain management support. These new, clinician-backed resources are available alongside 24+ conditions spanning cardiometabolic, oncology, behavioral health, women’s health, inflammation and immunology, discharge management, and medication support — all within a single platform.

More than half of Americans live with two or more chronic conditions, and MSK is one of the most common, affecting more than one in three adults and accounting for nearly 10% of national medical spending — insufficient MSK intervention can lead to overutilization, surgery, and opioid dependence. Importantly, MSK conditions don’t happen in a silo. With the launch of this program, Sidekick is positioned to support MSK and pain alongside cardiovascular disease, diabetes, mental health and menopause, delivering a multi-condition approach that’s designed to address rising risk, utilization, and ultimately the total cost of care.

“MSK has been one of the most consistent asks from health plan partners and their members. This launch aims to close that gap and positions us to better address the needs of our payer partners and their members — from multi-condition management to medication support to physical rehabilitation — in one solution.” said Travis Parkinson, President, Healthcare & Life Sciences, Sidekick Health.

The program approaches MSK support and rehabilitation from multiple angles, both physical and mental. It aims to transform how individuals manage MSK pain by shifting focus to functional restoration, while the pain management support layer combines cognitive behavioral therapy (CBT), mindfulness, and pain neuroscience education, designed to help members reduce medication reliance and build lasting self-management skills.

It was built from the ground up in collaboration with doctors of physical therapy (DPTs), clinical experts, and practicing clinicians, and incorporates key elements targeting rising risk, utilization, and quality metrics for health plans, multi-condition complexity for employers, and cost of care across all stakeholders:

Fall-risk mitigation with targeted exercises supporting joint and muscle health and strength that scale to meet member abilityPelvic floor support aimed to address lower back and hip pain and improve bladder controlPain management support available alongside MSK and other conditions, vital as patients work toward ending the cycle of disability, easing emotional distress, and improving quality of life

The program was developed in collaboration with MOBĒ, a whole-person condition management company, whose health plan and employer clients will have access to the program at launch through MOBE Missions, powered by Sidekick’s platform.

“What makes MSK particularly complex to support is how it interacts with other conditions and treatments. Approximately 75% of MOBĒ participants have an MSK condition, live with four or more chronic conditions, and utilize three or four more chronic medications from multiple prescribers, making integrated, cross-condition support a necessary feature for safe and sustained improvement,” said Leslie Helou PharmD, Senior Vice President of Health Outcomes Strategy at MOBĒ.

Most health plans are managing rising risk and complexity — in their growing proportion of multi-chronic health profiles and care management workflows. Sidekick’s platform simplifies this complexity and delivers real-time risk signals to deliver against organizational, clinical, and financial priorities.

“We’ve built a companion that can follow a person through their entire health journey — not just the condition they were most recently diagnosed with. Adding MSK isn’t a feature update. It’s just one more step as we deliver the intelligent care infrastructure health plans have been asking for.” said Tryggvi Thorgeirsson, co-founder and CEO, Sidekick Health.

About Sidekick Health

Sidekick Health is an intelligent care company. Its AI-powered solutions span cardiometabolic, musculoskeletal, oncology, behavioral health, women’s health, hospital discharge management, and inflammation and immunology conditions, and deliver lifestyle, medication, and care management support. Sidekick works with health insurers, employers, and pharmaceutical companies, and develops regulated prescription digital therapeutics designed to improve patient outcomes, enhance clinical efficiency, and reduce the cost of care.

Media Contact
Manda Bertrand
Press@sidekickhealth.com

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SOURCE Sidekick Health