Technology
Zhihu Inc. Reports Unaudited Second Quarter 2024 Financial Results
Published
2 years agoon
By
BEIJING, Aug. 22, 2024 /PRNewswire/ — Zhihu Inc. (“Zhihu” or the “Company”) (NYSE: ZH; HKEX: 2390), a leading online content community in China, today announced its unaudited financial results for the quarter ended June 30, 2024.
Second Quarter 2024 Highlights
Total revenues were RMB933.8 million (US$128.5 million) in the second quarter of 2024, compared with RMB1,044.2 million in the same period of 2023.Gross margin expanded to 59.6% in the second quarter of 2024 from 53.8% in the same period of 2023.Net loss was RMB80.6 million (US$11.1 million) in the second quarter of 2024, narrowed by 71.1% from the same period of 2023.Adjusted net loss (non-GAAP)[1] was RMB44.6 million (US$6.1 million) in the second quarter of 2024, narrowed by 79.9% from the same period of 2023.Average monthly active users (MAUs)[2] were 80.6 million in the second quarter of 2024. Average monthly subscribing members[3] were 14.7 million in the second quarter of 2024.
“Our strategic decisions and effective execution yielded impressive financial results in the second quarter of 2024,” said Mr. Yuan Zhou, chairman and chief executive officer of Zhihu. “At the same time, we made substantial strides in enhancing our core user experience, evidenced by the continued growth in user retention and DAU time spent. Building on our community’s enhanced trustworthiness, we launched Zhihu Zhida (知乎直答) in late June, marking a major advancement in our AI search initiatives. Further improvements in user retention and the positive user feedback Zhihu Zhida has received demonstrate our unique advantages and ability to capture the tremendous opportunities in this field.”
Mr. Han Wang, chief financial officer of Zhihu, added, “The second quarter marked our lowest quarterly loss since our U.S. IPO. During the quarter, we maintained disciplined spending while achieving a high ROI across all business lines. Additionally, we are committed to enhancing shareholder returns through various means. Moving forward, we will continue to emphasize strong strategic execution as we pursue long-term sustainable profitability.”
Second Quarter 2024 Financial Results
Total revenues were RMB933.8 million (US$128.5 million) in the second quarter of 2024, compared with RMB1,044.2 million in the same period of 2023.
Marketing services revenue was RMB344.0 million (US$47.3 million), compared with RMB412.7 million in the same period of 2023. The decrease was primarily due to our proactive and ongoing refinement of service offerings to strategically focus on margin improvement.
Paid membership revenue was RMB432.7 million (US$59.5 million), compared with RMB449.1 million in the same period of 2023. The slight decrease was primarily attributable to a marginal decline in our average revenue per subscribing member.
Vocational training revenue was RMB133.6 million (US$18.4 million), compared with RMB144.5 million in the same period of 2023. The decrease was primarily driven by lower revenue contributions from our acquired businesses.
Other revenues were RMB23.5 million (US$3.2 million), compared with RMB37.9 million in the same period of 2023.
Cost of revenues decreased by 21.8% to RMB377.3 million (US$51.9 million) from RMB482.1 million in the same period of 2023. The decrease was primarily due to reduced content and operating costs associated with the decline in our revenues.
Gross profit was RMB556.5 million (US$76.6 million), compared with RMB562.1 million in the same period of 2023. Gross margin expanded to 59.6% from 53.8% in the same period of 2023, primarily attributable to our monetization enhancements and improvements in our operating efficiency.
Total operating expenses decreased by 16.7% to RMB740.4 million (US$101.9 million) from RMB889.3 million in the same period of 2023.
Selling and marketing expenses decreased by 22.9% to RMB417.0 million (US$57.4 million) from RMB540.6 million in the same period of 2023. The decrease was primarily due to more disciplined promotional spending and a decrease in personnel-related expenses.
Research and development expenses decreased by 11.4% to RMB209.3 million (US$28.8 million) from RMB236.2 million in the same period of 2023. The decrease was primarily attributable to more efficient spending on technology innovation.
General and administrative expenses were RMB114.1 million (US$15.7 million), compared with RMB112.5 million in the same period of 2023.
Loss from operations narrowed by 43.8% to RMB183.9 million (US$25.3 million) from RMB327.2 million in the same period of 2023.
Adjusted loss from operations (non-GAAP)[1] narrowed by 45.4% to RMB147.1 million (US$20.2 million) from RMB269.4 million in the same period of 2023.
Net loss narrowed by 71.1% to RMB80.6 million (US$11.1 million) from RMB279.1 million in the same period of 2023.
Adjusted net loss (non-GAAP)[1] narrowed by 79.9% to RMB44.6 million (US$6.1 million) from RMB222.3 million in the same period of 2023.
Diluted net loss per American depositary share (“ADS”) [4] was RMB0.89 (US$0.12), compared with RMB2.76 in the same period of 2023.
Cash and cash equivalents, term deposits, restricted cash and short-term investments
As of June 30, 2024, the Company had cash and cash equivalents, term deposits, restricted cash and short-term investments of RMB5,061.5 million (US$696.5 million), compared with RMB5,462.9 million as of December 31, 2023.
Share Repurchase Programs
As of June 30, 2024, the Company had repurchased 31.1 million Class A ordinary shares (including Class A ordinary shares underlying the ADSs) for a total price of US$66.5 million on both the New York Stock Exchange and The Stock Exchange of Hong Kong Limited under the Company’s existing US$100 million share repurchase program (the “2022 Repurchase Program”), established in May 2022 and extended until June 26, 2025. In addition, a concurrent share repurchase program (the “2024 Repurchase Program”) was established in June 2024, effective until June 26, 2025. The maximum number of shares (including shares underlying the ADSs) that can be repurchased under the 2024 Repurchase Program, together with the remaining number of shares (including shares underlying the ADSs) that can be repurchased under the 2022 Repurchase Program, will not exceed 10% of the total number of issued shares of the Company (excluding any treasury shares) as of June 26, 2024, the date of the resolution granting the general unconditional mandate to purchase the Company’s own shares approved by shareholders.
[1] Adjusted loss from operations and adjusted net loss are non-GAAP financial measures. For more information on the non-GAAP financial measures, please see the section “Use of Non-GAAP Financial Measures” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.
[2] MAUs refers to the sum of the number of mobile devices that launch our mobile apps at least once in a given month, or mobile MAUs, and the number of logged-in users who visit our PC or mobile website at least once in a given month, after eliminating duplicates.
[3] Monthly subscribing members refers to the number of our Yan Selection members in a specified month. Average monthly subscribing members for a period is calculated by dividing the sum of monthly subscribing members for each month during the specified period by the number of months in such period.
[4] On May 10, 2024, we effected a change in the ratio of our ADSs to Class A ordinary shares from two ADSs representing one Class A ordinary share to a new ratio of one ADS representing three Class A ordinary shares. Basic and diluted net loss per ADS have been retrospectively adjusted to reflect this ADS ratio change for all periods presented.
Conference Call
The Company’s management will host an earnings conference call at 8:00 p.m. U.S. Eastern Time on August 22, 2024 (8:00 a.m. Beijing/Hong Kong time on August 23, 2024).
All participants wishing to join the conference call must pre-register online using the link provided below. Once the pre-registration has been completed, each participant will receive a set of dial-in numbers, a passcode, and a unique registrant ID which can be used to join the conference call. Participants may pre-register at any time, including up to and after the call start time.
Participant Online Registration: https://dpregister.com/sreg/10191716/fd413a8bd8
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.zhihu.com.
A replay of the conference call will be accessible approximately one hour after the conclusion of the live call, until August 29, 2024, by dialing the following telephone numbers:
United States (toll free):
+1-877-344-7529
International:
+1-412-317-0088
Replay Access Code:
4215305
About Zhihu Inc.
Zhihu Inc. (NYSE: ZH; HKEX: 2390) is a leading online content community in China where people come to find solutions, make decisions, seek inspiration, and have fun. Since the initial launch in 2010, we have grown from a Q&A community into one of the top comprehensive online content communities and the largest Q&A-inspired online content community in China. For more information, please visit https://ir.zhihu.com.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP financial measures, such as adjusted loss from operations and adjusted net loss, to supplement the review and assessment of its operating performance. The Company defines non-GAAP financial measures by excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisitions and the tax effects of the non-GAAP adjustments, which are non-cash expenses. The Company believes that the non-GAAP financial measures facilitate comparisons of operating performance from period to period and company to company by adjusting for potential impacts of items, which the Company’s management considers to be indicative of its operating performance. The Company believes that the non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company’s consolidated results of operations in the same manner as they help the Company’s management.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The presentation of the non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies. The use of the non-GAAP financial measures has limitations as an analytical tool, and investors should not consider it in isolation from, or as a substitute for analysis of, our results of operations or financial condition as reported under U.S. GAAP. For more information on the non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.
Exchange Rate Information
This announcement contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars were made at a rate of RMB7.2672 to US$1.00, the exchange rate in effect as of June 28, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Zhihu Inc.
Email: ir@zhihu.com
Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
Email: zhihu@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Phone: +1-212-481-2050
Email: zhihu@tpg-ir.com
ZHIHU INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(All amounts in thousands, except share, ADS, per share data and per ADS data)
For the Three Months Ended
For the Six Months Ended
June 30,
2023
March 31,
2024
June 30,
2024
June 30,
2023
June 30,
2024
RMB
RMB
RMB
US$
RMB
RMB
US$
Revenues:
Marketing services
412,740
330,542
343,979
47,333
804,877
674,521
92,817
Paid membership
449,098
449,724
432,652
59,535
903,867
882,376
121,419
Vocational training
144,520
145,436
133,633
18,389
251,518
279,069
38,401
Others
37,851
35,161
23,546
3,240
78,167
58,707
8,078
Total revenues
1,044,209
960,863
933,810
128,497
2,038,429
1,894,673
260,715
Cost of revenues
(482,131)
(417,384)
(377,266)
(51,914)
(964,132)
(794,650)
(109,347)
Gross profit
562,078
543,479
556,544
76,583
1,074,297
1,100,023
151,368
Selling and marketing expenses
(540,593)
(477,954)
(416,985)
(57,379)
(986,158)
(894,939)
(123,148)
Research and development expenses
(236,245)
(197,356)
(209,323)
(28,804)
(419,205)
(406,679)
(55,961)
General and administrative expenses
(112,460)
(92,917)
(114,107)
(15,702)
(212,898)
(207,024)
(28,487)
Total operating expenses
(889,298)
(768,227)
(740,415)
(101,885)
(1,618,261)
(1,508,642)
(207,596)
Loss from operations
(327,220)
(224,748)
(183,871)
(25,302)
(543,964)
(408,619)
(56,228)
Other income/(expenses):
Investment income
11,793
16,902
21,811
3,001
17,799
38,713
5,327
Interest income
39,987
30,763
26,754
3,681
79,480
57,517
7,915
Fair value change of financial instruments
(9,016)
9,408
31,412
4,322
(12,598)
40,820
5,617
Exchange gains
7,076
120
289
40
1,427
409
56
Others, net
644
3,043
15,947
2,194
6,977
18,990
2,613
Loss before income tax
(276,736)
(164,512)
(87,658)
(12,064)
(450,879)
(252,170)
(34,700)
Income tax (expenses)/benefits
(2,330)
(1,284)
7,063
972
(7,159)
5,779
795
Net loss
(279,066)
(165,796)
(80,595)
(11,092)
(458,038)
(246,391)
(33,905)
Net (income)/loss attributable to
noncontrolling interests
(775)
950
(2,144)
(295)
(3,158)
(1,194)
(164)
Net loss attributable to Zhihu Inc.’s
shareholders
(279,841)
(164,846)
(82,739)
(11,387)
(461,196)
(247,585)
(34,069)
Net loss per share
Basic
(0.92)
(0.59)
(0.30)
(0.04)
(1.52)
(0.88)
(0.12)
Diluted
(0.92)
(0.59)
(0.30)
(0.04)
(1.52)
(0.88)
(0.12)
Net loss per ADS (One ADS represents
three Class A ordinary shares)
Basic
(2.76)
(1.76)
(0.89)
(0.12)
(4.55)
(2.65)
(0.36)
Diluted
(2.76)
(1.76)
(0.89)
(0.12)
(4.55)
(2.65)
(0.36)
Weighted average number of ordinary
shares outstanding
Basic
304,068,362
281,549,707
279,241,647
279,241,647
304,052,681
280,403,026
280,403,026
Diluted
304,068,362
281,549,707
279,241,647
279,241,647
304,052,681
280,403,026
280,403,026
ZHIHU INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(All amounts in thousands, except share, ADS, per share data and per ADS data)
For the Three Months Ended
For the Six Months Ended
June 30,
2023
March 31,
2024
June 30,
2024
June 30,
2023
June 30,
2024
RMB
RMB
RMB
US$
RMB
RMB
US$
Share-based compensation expenses included in:
Cost of revenues
2,146
2,497
750
103
6,546
3,247
447
Selling and marketing expenses
6,384
3,272
(6,063)
(834)
15,142
(2,791)
(384)
Research and development expenses
14,941
3,680
4,439
611
36,146
8,119
1,117
General and administrative expenses
28,976
16,363
33,515
4,612
50,531
49,878
6,863
ZHIHU INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands)
As of December 31,
2023
As of June 30,
2024
RMB
RMB
US$
ASSETS
Current assets:
Cash and cash equivalents
2,106,639
3,159,325
434,738
Term deposits
1,586,469
1,204,062
165,684
Short-term investments
1,769,822
646,321
88,937
Restricted cash
–
51,774
7,124
Trade receivables
664,615
532,929
73,333
Amounts due from related parties
18,319
41,236
5,674
Prepayments and other current assets
232,016
201,338
27,705
Total current assets
6,377,880
5,836,985
803,195
Non-current assets:
Property and equipment, net
10,849
9,670
1,331
Intangible assets, net
122,645
61,698
8,490
Goodwill
191,077
126,344
17,386
Long-term investments, net
44,621
51,176
7,042
Right-of-use assets
40,211
21,959
3,022
Other non-current assets
7,989
372
51
Total non-current assets
417,392
271,219
37,322
Total assets
6,795,272
6,108,204
840,517
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued liabilities
1,038,531
913,225
125,664
Salary and welfare payables
342,125
219,681
30,229
Taxes payables
21,394
16,967
2,335
Contract liabilities
303,574
283,465
39,006
Amounts due to related parties
26,032
10,685
1,470
Short-term lease liabilities
42,089
24,834
3,417
Short-term borrowings
–
51,774
7,124
Other current liabilities
171,743
159,014
21,881
Total current liabilities
1,945,488
1,679,645
231,126
Non-current liabilities
Long-term lease liabilities
3,642
2,071
285
Deferred tax liabilities
22,574
8,030
1,105
Other non-current liabilities
121,958
18,253
2,512
Total non-current liabilities
148,174
28,354
3,902
Total liabilities
2,093,662
1,707,999
235,028
Total Zhihu Inc.’s shareholders’ equity
4,599,810
4,312,294
593,392
Noncontrolling interests
101,800
87,911
12,097
Total shareholders’ equity
4,701,610
4,400,205
605,489
Total liabilities and shareholders’ equity
6,795,272
6,108,204
840,517
ZHIHU INC.
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(All amounts in thousands)
For the Three Months Ended
For the Six Months Ended
June 30,
2023
March 31,
2024
June 30,
2024
June 30,
2023
June 30,
2024
RMB
RMB
RMB
US$
RMB
RMB
US$
Loss from operations
(327,220)
(224,748)
(183,871)
(25,302)
(543,964)
(408,619)
(56,228)
Add:
Share-based compensation expenses
52,447
25,812
32,641
4,492
108,365
58,453
8,043
Amortization of intangible assets resulting from
business acquisitions
5,365
5,365
4,115
566
8,855
9,480
1,304
Adjusted loss from operations
(269,408)
(193,571)
(147,115)
(20,244)
(426,744)
(340,686)
(46,881)
Net loss
(279,066)
(165,796)
(80,595)
(11,092)
(458,038)
(246,391)
(33,905)
Add:
Share-based compensation expenses
52,447
25,812
32,641
4,492
108,365
58,453
8,043
Amortization of intangible assets resulting
from business acquisitions
5,365
5,365
4,115
566
8,855
9,480
1,304
Tax effects on non-GAAP adjustments
(1,069)
(1,069)
(756)
(104)
(1,669)
(1,825)
(251)
Adjusted net loss
(222,323)
(135,688)
(44,595)
(6,138)
(342,487)
(180,283)
(24,809)
View original content:https://www.prnewswire.com/news-releases/zhihu-inc-reports-unaudited-second-quarter-2024-financial-results-302229121.html
SOURCE Zhihu Inc.
You may like
Technology
Marine Biological Laboratory Appoints Nicole A. Theodosiou as Burroughs Wellcome Director of Education
Published
41 minutes agoon
July 23, 2026By
WOODS HOLE, Mass., July 23, 2026 /PRNewswire/ — The Marine Biological Laboratory (MBL) has appointed Nicole A. Theodosiou, Ph.D., as its next Burroughs Wellcome Director of Education at the Marine Biological Laboratory. She will join the MBL on September 8.
Theodosiou brings more than two decades of experience in science education, academic leadership, and program development. She joins the MBL from Union College in Schenectady, New York, where she held a number of leadership roles focused on curriculum innovation, faculty development, and undergraduate STEM education. Most recently, she served as Special Projects Director for Initiatives in Pedagogy & Course Design. Previously, she directed the Howard Hughes Medical Institute Inclusive Excellence Initiative, led the Biochemistry Program, and served as a faculty member in the Department of Biology.
Throughout her career, Theodosiou has developed interdisciplinary educational programs, led faculty development initiatives, and advanced innovative approaches to teaching and learning. She is a member of the Society for Developmental Biology Academy and served on the Society’s Board of Directors as chair of its Professional Development and Education Committee, where she helped create professional development programs and educational resources for scientists nationwide.
At the MBL, Theodosiou will lead the institution’s educational programs, including its internationally renowned Advanced Research Training Courses (ARTCs), undergraduate and high school programs, and other educational initiatives that support the Laboratory’s mission of advancing biological discovery through research and education.
“Education has been central to the MBL’s mission since our founding in 1888,” said Nipam H. Patel, Director of the MBL. “Nicole brings a remarkable combination of scientific expertise, educational leadership, and strategic vision. Her commitment to experiential learning and developing innovative educational programs makes her an outstanding addition to our leadership team as we work to magnify the MBL’s educational impact for the next generation of scientists. “
Theodosiou has maintained a longstanding connection to the MBL throughout her career. She participated in the Laboratory’s Gene Regulatory Networks course in 2015, collaborated with the Marine Resource Center in support of her research, and has mentored students who have participated in MBL educational programs. She has described the MBL’s educational ecosystem as “unparalleled” and its tradition of learning by doing as closely aligned with her own philosophy of science education.
“The MBL has always been a place where scientific discovery and education go hand in hand,” said Theodosiou. “Its tradition of learning by doing and global community has inspired generations of researchers, including myself. I’m honored to join the MBL community and look forward to strengthening and building on its extraordinary legacy to inspire and train the next generation of scientists. “
Theodosiou earned a Ph.D. in Genetics from Yale University and a bachelor’s degree in biology from Swarthmore College. Her research as a developmental biologist has focused on vertebrate evolution and development, while her educational leadership has emphasized creating accessible, research-driven learning environments that integrate science, education, and communication.
About the Marine Biological Laboratory
The Marine Biological Laboratory (MBL) is dedicated to scientific discovery—exploring fundamental biology, understanding biodiversity and the environment, and informing the human condition through research and education. Founded in Woods Hole, Massachusetts, in 1888, the MBL is a private, nonprofit institution.
Media Contact:
Samantha Cummis
Scummis@mbl.edu
973-800-4118
View original content to download multimedia:https://www.prnewswire.com/news-releases/marine-biological-laboratory-appoints-nicole-a-theodosiou-as-burroughs-wellcome-director-of-education-302833514.html
SOURCE Marine Biological Laboratory
Technology
Marine Biological Laboratory Appoints Nicole A. Theodosiou as Burroughs Wellcome Director of Education
Published
41 minutes agoon
July 23, 2026By
WOODS HOLE, Mass., July 23, 2026 /PRNewswire/ — The Marine Biological Laboratory (MBL) has appointed Nicole A. Theodosiou, Ph.D., as its next Burroughs Wellcome Director of Education at the Marine Biological Laboratory. She will join the MBL on September 8.
Theodosiou brings more than two decades of experience in science education, academic leadership, and program development. She joins the MBL from Union College in Schenectady, New York, where she held a number of leadership roles focused on curriculum innovation, faculty development, and undergraduate STEM education. Most recently, she served as Special Projects Director for Initiatives in Pedagogy & Course Design. Previously, she directed the Howard Hughes Medical Institute Inclusive Excellence Initiative, led the Biochemistry Program, and served as a faculty member in the Department of Biology.
Throughout her career, Theodosiou has developed interdisciplinary educational programs, led faculty development initiatives, and advanced innovative approaches to teaching and learning. She is a member of the Society for Developmental Biology Academy and served on the Society’s Board of Directors as chair of its Professional Development and Education Committee, where she helped create professional development programs and educational resources for scientists nationwide.
At the MBL, Theodosiou will lead the institution’s educational programs, including its internationally renowned Advanced Research Training Courses (ARTCs), undergraduate and high school programs, and other educational initiatives that support the Laboratory’s mission of advancing biological discovery through research and education.
“Education has been central to the MBL’s mission since our founding in 1888,” said Nipam H. Patel, Director of the MBL. “Nicole brings a remarkable combination of scientific expertise, educational leadership, and strategic vision. Her commitment to experiential learning and developing innovative educational programs makes her an outstanding addition to our leadership team as we work to magnify the MBL’s educational impact for the next generation of scientists. “
Theodosiou has maintained a longstanding connection to the MBL throughout her career. She participated in the Laboratory’s Gene Regulatory Networks course in 2015, collaborated with the Marine Resource Center in support of her research, and has mentored students who have participated in MBL educational programs. She has described the MBL’s educational ecosystem as “unparalleled” and its tradition of learning by doing as closely aligned with her own philosophy of science education.
“The MBL has always been a place where scientific discovery and education go hand in hand,” said Theodosiou. “Its tradition of learning by doing and global community has inspired generations of researchers, including myself. I’m honored to join the MBL community and look forward to strengthening and building on its extraordinary legacy to inspire and train the next generation of scientists. “
Theodosiou earned a Ph.D. in Genetics from Yale University and a bachelor’s degree in biology from Swarthmore College. Her research as a developmental biologist has focused on vertebrate evolution and development, while her educational leadership has emphasized creating accessible, research-driven learning environments that integrate science, education, and communication.
About the Marine Biological Laboratory
The Marine Biological Laboratory (MBL) is dedicated to scientific discovery—exploring fundamental biology, understanding biodiversity and the environment, and informing the human condition through research and education. Founded in Woods Hole, Massachusetts, in 1888, the MBL is a private, nonprofit institution.
Media Contact:
Samantha Cummis
Scummis@mbl.edu
973-800-4118
View original content to download multimedia:https://www.prnewswire.com/news-releases/marine-biological-laboratory-appoints-nicole-a-theodosiou-as-burroughs-wellcome-director-of-education-302833514.html
SOURCE Marine Biological Laboratory
Technology
Canada’s investment industry and business community welcome Ontario’s commitment to join regulatory passport system
Published
41 minutes agoon
July 23, 2026By
Industry, business, and professional associations voice strong support for greater regulatory harmonization and a more competitive Canadian economy
TORONTO, July 23, 2026 /CNW/ — Canada’s investment industry and business community welcome Ontario’s commitment to join the country’s securities regulatory passport system, marking a significant step toward greater regulatory harmonization and a more efficient and competitive Canadian capital market.
A coalition of associations representing firms and professionals from across Canada’s capital markets sector, together with a broad cross-section of the business community, strongly supports the announcement by Ontario Finance Minister Peter Bethlenfalvy at the recent meeting of Canada’s finance ministers, convened by Federal Finance Minister Francois-Philippe Champagne, and supported by their provincial and territorial counterparts.
Ontario’s participation in the passport system will make it easier for firms to operate and raise capital across Canada, while reducing unnecessary regulatory duplication and costs. More broadly, it advances the national effort to remove internal trade barriers, boost productivity and strengthen Canada’s economic competitiveness.
The passport system has already demonstrated that greater regulatory coordination can be achieved while respecting provincial jurisdiction. Participating regulators retain their authority and distinct roles, while firms benefit from a system in which decisions made by a principal regulator are generally recognized across participating jurisdictions.
Ontario’s participation creates an opportunity not only to reduce duplication but also to strengthen the system as a whole. A more integrated model can better leverage the expertise and capabilities of regulators across the country, creating opportunities for greater regulatory specialization and leadership in areas where individual jurisdictions have particular strengths.
For firms, greater harmonization means more predictable regulation, less duplication, and a more efficient regulatory environment. For investors, it supports a framework that maintains strong investor protection while responding more effectively to an increasingly complex and competitive global marketplace. For Canada, it helps create a more attractive environment in which to invest, launch new products and raise capital.
This coalition stands ready to work with governments and securities regulators across Canada to support Ontario’s timely and successful implementation of the passport system and build on the progress already made. We encourage all parties to move quickly to bring Ontario into the existing framework, while preserving the features that have made the passport system work so effectively.
Ontario’s commitment is a milestone and an important step toward a more integrated, efficient and competitive capital market that will strengthen the Canadian economy and better serve Canadian investors and businesses.
About the coalition
The Canadian Bankers Association (CBA) is the voice of more than 60 domestic and foreign banks that help drive Canada’s economic growth and prosperity. The CBA advocates for public policies that contribute to a sound, thriving banking system to ensure Canadians can succeed in their financial goals.
The Canadian ETF Association (CETFA) is the national voice of Canada’s ETF industry, representing approximately 96 per cent of exchange traded fund (ETF) assets in Canada. CETFA promotes the growth, sustainability and integrity of Canada’s ETF industry. It keeps investment professionals informed about ETF developments, educates investors about ETFs and their benefits, and debunks ETF myths.
CFA Societies Canada is a collaboration of the 12 Canadian CFA Institute member societies, representing over 21,000 CFA charter holders in Canada. Its mission is to lead the investment profession in Canada by advancing the highest professional standards, integrity, and ethics for the ultimate benefit of Canadian society.
Chartered Professional Accountants of Canada (CPA Canada) is one of the most influential accounting organizations in the world. As a non-regulatory body comprised of individual CPA members, CPA Canada supports the profession and represents Canadian CPAs at the national and international levels. Nationally, CPA Canada acts in the public interest to promote transparency in financial markets, prepares CPAs for a rapidly evolving business environment through extensive guidance and programming and contributes to standard setting and policy making. Globally, CPA Canada works together with international bodies to build a stronger accounting profession worldwide. Its dedicated efforts help shape public policy, influence regulatory frameworks and establish high professional standards that reflect the evolving needs of the accounting industry.
The Alternative Investment Management Association (AIMA) is the global representative of the alternative investment industry, with around 2,100 corporate members in over 60 countries. AIMA’s fund manager members collectively manage more than US$4 trillion in hedge fund and private credit assets. AIMA draws upon the expertise and diversity of its membership to provide leadership in industry initiatives such as advocacy, policy and regulatory engagement, educational programs and sound practice guides. AIMA works to raise media and public awareness of the value of the industry. AIMA set up the Alternative Credit Council (ACC) to help firms focused in the private credit and direct lending space. The ACC currently represents over 250 members that manage US$2 trillion of private credit assets globally. AIMA is committed to developing skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation (CAIA) – the first and only specialized educational standard for alternative investment specialists. AIMA is governed by its Council (Board of Directors). AIMA was founded in 1990, with the AIMA Canada subsidiary formed in 2003.
The Ontario Chamber of Commerce (OCC) is the indispensable partner of business and Canada’s largest, most influential provincial chamber. It is an independent, non-profit advocacy and member services organization representing a diverse network of 60,000 members. The OCC convenes, mobilizes and empowers business and local chambers in pursuit of its purpose: to bring inclusive and sustainable prosperity to Ontario’s businesses, workers, and communities.
The Pension Investment Association of Canada (PIAC) has been the foremost voice for Canadian pension funds in matters related to pension investment and governance since 1977. PIAC is composed of over 130 of the largest pension plans in the country who manage over $3.5 trillion of assets on behalf of millions of Canadians. Its mission is to promote sound investment practices and good governance for the benefit of plan sponsors and beneficiaries.
The Portfolio Management Association of Canada (PMAC) represents over 300 asset management firms that manage more than $4 trillion in assets. Members are all fiduciaries managing investments in the best interests of their clients, which include private individuals, foundations, universities and pension plans. PMAC employs a collaborative information-sharing business model and advocates on behalf of its members on securities regulation and government policy matters. The association’s mission is to advocate the highest standards of unbiased portfolio management in the interest of investors served by members.
The Securities and Investment Management Association (SIMA) empowers Canada’s investment industry. The association, formerly The Investment Funds Institute of Canada (IFIC), is the leading voice for the securities and investment management industry, which oversees approximately $4.5 trillion in assets for over 20 million investors and the Canadian capital markets. Our members–including investment fund managers, investment and mutual fund dealers, capital markets participants, and professional service providers–are committed to creating a resilient, innovative investment sector that fuels long-term economic growth and creates opportunities for all Canadians.
SOURCE Securities and Investment Management Association
Marine Biological Laboratory Appoints Nicole A. Theodosiou as Burroughs Wellcome Director of Education
Marine Biological Laboratory Appoints Nicole A. Theodosiou as Burroughs Wellcome Director of Education
Canada’s investment industry and business community welcome Ontario’s commitment to join regulatory passport system
Send Rakhi to UK swiftly with UK Gifts Portal
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
New Gooseneck Omni Antennas Offer Enhanced Signals in a Durable Package
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Technology5 days agoEmdoor Launches “Ailyn” AI Hub at WAIC 2026: Unifying Intelligence Across Every Device
-
Technology4 days agoPenetron Strengthens Global Research Collaboration at ICSHM 2026
-
Coin Market4 days agoSaylor turns up heat with ‘110 reasons’ why BIP-110 is a bad idea
-
Technology4 days ago“Every Day CO₂ Challenge”: More Than a Game, A New Way of Learning
-
Coin Market4 days agoWill the US get CLARITY this week? Bitcoin’s new $80K target: Hodler’s Digest, July 19
-
Technology4 days ago
China-Europe Youth Exchange Campaign: When Fashion Meets Football — A Green Pitch Appointment for Cross-Cultural Dialogue
-
Technology3 days agoTrakka Systems to Demonstrate Advanced ISR Capabilities at Farnborough International Airshow 2026
-
Technology4 days agoPowering ASEAN’s Manufacturing Transformation: IME 2026 Connects Technology, Industry and Opportunity
