Technology
51Talk Online Education Group Announces Second Quarter 2024 Results
Published
2 years agoon
By
SINGAPORE, Aug. 23, 2024 /PRNewswire/ — 51Talk Online Education Group (“51Talk” or the “Company”) (NYSE American: COE), a global online education platform with core expertise in English education, announced its unaudited results for the second quarter ended June 30, 2024.
Second Quarter 2024 Financial and Operating Highlights
Gross billings1 for the second quarter of 2024 were US$15.9 million, a 61.3% growth from the second quarter of 2023.
Net revenues were US$11.0 million for the second quarter of 2024, a 75.1% increase from US$6.3 million for the second quarter of 2023.
The number of quarterly active students with attended lesson consumption was approximately 54,400 in the second quarter of 2024, representing a 83.2% increase from approximately 29,700 for the second quarter of 2023.
Key Financial and Operating Data
For the three months ended
June 30,
June 30,
Y-o-Y
2023
2024
Change
Net Revenues (in US$ millions)
6.3
11.0
75.1 %
Gross Margin
78.4 %
78.1 %
-0.3ppt
Gross Billings (in US$ millions)
9.8
15.9
61.3 %
Active students with attended lesson consumption2
(in thousands)
29.7
54.4
83.2 %
“We have achieved strong growth in Q2, exceeding our Q2 guidance, and anticipate sustained momentum in the foreseeable future, as reflected in our Q3 guidance. Our strategic investments across a diverse portfolio of markets are yielding positive results, propelling us towards our objective of becoming a globally leading EdTech company.” stated Jack Jiajia Huang, Founder, Chairman, and Chief Executive Officer of 51Talk.
“Through our localization efforts, we have gained a deeper understanding of individual markets, allowing us to meet specific local needs. This approach has improved our product market fit. Additionally, we actively explore new market opportunities that align with our strategic direction and existing product offerings.”
“Our strategy hinges on global expansion based on local needs and platform strength enabled by AI. We make targeted investments to enhance team efficiency and local customer experience, aiming to drive higher retention rates and more customer referrals.” Jack Jiajia Huang concluded.
1 Gross billings for a specific period, which is one of the Company’s key operating data, is defined as the total amount of cash received and receivable from third party payment platforms for the sale of course packages and services in such period, net of the total amount of refunds in such period. The gross billings data included herein was from the Company’s business system and converted with quarterly corresponding exchange rate, which may lead to differences with bank records
2 An “active student with attended lesson consumption” for a given period refers to a student who attended at least one paid lesson, excluding those students who only attended paid live broadcasting lessons or trial lessons.
Second Quarter 2024 Financial Results
Net Revenues and Gross Margin
Net revenues for the second quarter of 2024 were US$11.0 million, a 75.1% increase from US$6.3 million for the same quarter last year. The number of active students with attended lesson consumption was approximately 54,400 in the second quarter of 2024, a 83.2% increase from 29,700 for the same quarter last year.
Cost of revenues for the second quarter of 2024 was US$2.4 million, a 77.3% increase from US$1.4 million for the same quarter last year. The increase was primarily due to the increase in total service fees paid to teachers, mainly resulting from an increased number of paid lessons.
Gross profit for the second quarter of 2024 was US$8.6 million, a 74.5% increase from US$4.9 million for the same quarter last year.
Gross margin for the second quarter of 2024 was 78.1%, compared with 78.4% for the same quarter last year.
Operating Expenses
Total operating expenses for the second quarter of 2024 were US$11.0 million, a 39.7% increase from US$7.9 million for the same quarter last year. The increase was mainly due to the increase in sales and marketing expenses.
Sales and marketing expenses for the second quarter of 2024 were US$7.3 million, a 43.6% increase from US$5.1 million for the same quarter last year. The increase was mainly due to higher sales personnel costs related to increases in the number of sales and marketing personnel. Excluding share-based compensation expenses, non-GAAP sales and marketing expenses for the second quarter of 2024 were US$7.3 million, a 44.0% increase from US$5.1 million for the same quarter last year.
Product development expenses for the second quarter of 2024 were US$0.9 million, a 22.6% increase from US$0.7 million for the same quarter last year. The increase was primarily due to higher product development personnel costs. Excluding share-based compensation expenses, non-GAAP product development expenses for the second quarter of 2024 were US$0.8 million, a 25.7% increase from US$0.7 million for the same quarter last year.
General and administrative expenses for the second quarter of 2024 were US$2.8 million, a 35.8% increase from US$2.1 million for the same quarter last year. The increase was primarily due to higher general and administrative personnel costs. Excluding share-based compensation expenses, non-GAAP general and administrative expenses for the second quarter of 2024 were US$2.6 million, a 35.4% increase from US$1.9 million for the same quarter last year.
Loss from Operations
Operating loss for the second quarter of 2024 was US$2.4 million, compared with operating loss of US$3.0 million for the same quarter last year.
Non-GAAP operating loss for the second quarter of 2024 was US$2.2 million, compared with non-GAAP operating loss of US$2.8 million for the same quarter last year.
Net loss attributable to the Company’s ordinary shareholders
Net loss attributable to the Company’s ordinary shareholders for the second quarter of 2024 was US$1.2 million, compared with net loss of US$2.9 million for the same quarter last year.
Excluding share-based compensation expenses of US$0.2 million, non-GAAP net loss for the second quarter of 2024 was US$1.0 million, compared with non-GAAP net loss of US$2.7 million for the same quarter last year.
Basic and diluted net loss per share attributable to ordinary shareholders for the second quarter of 2024 was US$0.004, compared with basic and diluted net loss per share of US$0.01 for the same quarter last year.
Excluding share-based compensation expenses of US$0.2 million, non-GAAP basic and diluted net loss per share attributable to ordinary shareholders for the second quarter of 2024 was US$0.003, compared with non-GAAP basic and diluted net loss per share attributable to ordinary shareholders of US$0.01 for the same quarter last year.
Basic and diluted net loss per American depositary share (“ADS”) attributable to ordinary shareholders for the second quarter of 2024 was US$0.22, compared with basic and diluted net loss per ADS of US$0.51 for the same quarter last year. Each ADS represents 60 Class A ordinary shares.
Excluding share-based compensation expenses of US$0.2 million, non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders for the second quarter of 2024 was US$0.18, compared with non-GAAP basic and diluted net loss per ADS attributable to ordinary shareholders of US$0.48 for the same quarter last year.
Balance Sheet
As of June 30, 2024, the Company had total cash, cash equivalents and time deposits of US$21.0 million, compared with US$23.4 million as of December 31, 2023.
The Company had advances from students3 of US$34.5 million as of June 30, 2024, compared with US$27.2 million as of December 31, 2023.
3 “Advances from students” is defined as the amount of obligation to transfer goods or service to students or business partners for which consideration has been received from students in advance. The deposits from students are also presented in the total amount of “advances from students”
Outlook
For the third quarter of 2024, the Company currently expects net gross billings to be between $17.0 million and $18.0 million, which would represent a sequential growth of 7.2% to 13.5%.
The foregoing outlook is based on current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.
Conference Call
The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 23, 2024 (8:00 PM Singapore/Hong Kong time on August 23, 2024).
Dial-in details for the earnings conference call are as follows:
United States (toll free):
1-888-346-8982
International:
1-412-902-4272
Singapore (toll free):
800-120-6157
Mainland China (toll free):
4001-201203
Hong Kong (toll free):
800-905945
Hong Kong (local toll):
852-301-84992
Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for “51Talk Online Education Group.”
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.51talk.com.
A replay of the conference call will be accessible until August 30, 2024, by dialing the following telephone numbers:
United States (toll free):
1-877-344-7529
International:
1-412-317-0088
Replay Access Code:
1167367
About 51Talk Online Education Group
51Talk Online Education Group (NYSE American: COE) is a global online education platform with core expertise in English education. The Company’s mission is to make quality education accessible and affordable. The Company’s online and mobile education platforms enable students to take live interactive English lessons, on demand. The Company connects its students with a large pool of highly qualified teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students.
Use of Non-GAAP Financial Measures
In evaluating its business, 51Talk considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP sales and marketing expenses, non-GAAP product development expenses, non-GAAP general and administrative expenses, non-GAAP operating expenses, non-GAAP operating income/(loss), non-GAAP net income/(loss), non-GAAP net income/(loss) attributable to ordinary shareholders, and non-GAAP net income/(loss) attributable to ordinary shareholders per share and per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of non-GAAP measures to the most comparable GAAP measures” set forth at the end of this press release.
51Talk believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. 51Talk believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to 51Talk’s historical performance. 51Talk computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. 51Talk believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision-making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in the 51Talk’s business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying table at the end of this press release provides more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “aims”, “future”, “intends”, “plans”, “believes”, “estimates”, “likely to” and similar statements. Among other things, 51Talk’s quotations from management in this announcement, as well as 51Talk’s strategic and operational plans, contain forward-looking statements. 51Talk may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about 51Talk’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: 51Talk’s goals and strategies; 51Talk’s expectations regarding demand for and market acceptance of its brand and platform; 51Talk’s ability to retain and increase its student enrollment; 51Talk’s ability to offer new courses; 51Talk’s ability to engage, train and retain new teachers; 51Talk’s future business development, results of operations and financial condition; 51Talk’s ability to maintain and improve infrastructure necessary to operate its education platform; competition in the online education industry in its international markets; the expected growth of, and trends in, the markets for 51Talk’s course offerings in its international markets; relevant government policies and regulations relating to 51Talk’s corporate structure, business and industry; general economic and business condition in the Philippines, its international markets and elsewhere; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in 51Talk’s filings with the SEC. All information provided in this press release is as of the date of this press release, and 51Talk does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
51TALK ONLINE EDUCATION GROUP
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
As of
Dec. 31,
Jun. 30,
2023
2024
US$
US$
ASSETS
Current assets
Cash and cash equivalents
21,298
16,686
Time deposits
2,091
4,311
Inventory
–
29
Prepaid expenses and other current
assets
6,394
10,424
Total current assets
29,783
31,450
Non-current assets
Property and equipment, net
138
181
Intangible assets, net
92
86
Right-of-use assets
723
1,413
Deferred tax assets
72
69
Other non-current assets
348
340
Total non-current assets
1,373
2,089
Total assets
31,156
33,539
LIABILITIES AND SHAREHOLDERS’
DEFICITS
Current liabilities
Advances from students
27,214
34,497
Accrued expenses and other current
liabilities
6,189
6,353
Amounts due to related parties
4,077
3,620
Lease liabilities
590
820
Taxes payable
1,060
741
Total current liabilities
39,130
46,031
Non-current liabilities
Lease liabilities
41
519
Other non-current liabilities
176
274
Total non-current liabilities
217
793
Total liabilities
39,347
46,824
Total shareholders’ deficits
(8,340)
(13,617)
Noncontrolling interests
149
332
Total deficits
(8,191)
(13,285)
Total liabilities and shareholders’
deficits
31,156
33,539
51TALK ONLINE EDUCATION GROUP
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands except for number of shares and per share data)
For the three months ended
For the six months ended
Jun. 30,
Mar. 31,
Jun. 30,
Jun. 30,
Jun. 30,
2023
2024
2024
2023
2024
US$
US$
US$
US$
US$
Net revenues
6,260
9,446
10,960
11,812
20,406
Cost of revenues
(1,354)
(2,128)
(2,400)
(2,596)
(4,528)
Gross profit
4,906
7,318
8,560
9,216
15,878
Operating expenses
Sales and marketing expenses
(5,109)
(7,728)
(7,335)
(9,550)
(15,063)
Product development expenses
(694)
(945)
(851)
(1,356)
(1,796)
General and administrative expenses
(2,053)
(2,589)
(2,789)
(3,812)
(5,378)
Total operating expenses
(7,856)
(11,262)
(10,975)
(14,718)
(22,237)
Loss from operations
(2,950)
(3,944)
(2,415)
(5,502)
(6,359)
Interest income
36
82
63
69
145
Other (expenses)/income, net
(45)
141
1,131
(120)
1,272
Loss before income tax benefit/(expenses)
(2,959)
(3,721)
(1,221)
(5,553)
(4,942)
Income tax benefit/(expenses)
61
(22)
(41)
52
(63)
Net loss
(2,898)
(3,743)
(1,262)
(5,501)
(5,005)
Net loss attributable to noncontrolling
interests
–
(19)
(15)
–
(34)
Net loss attributable to the Company’s
ordinary shareholders
(2,898)
(3,724)
(1,247)
(5,501)
(4,971)
Weighted average number of ordinary shares
used in computing basic and diluted loss per
share
340,329,892
345,124,338
346,701,530
339,836,750
345,913,731
51TALK ONLINE EDUCATION GROUP
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands except for number of shares and per share data)
For the three months ended
For the six months ended
Jun. 30,
Mar. 31,
Jun. 30,
Jun. 30,
Jun. 30,
2023
2024
2024
2023
2024
US$
US$
US$
US$
US$
Net loss per share attributable to ordinary shareholders
Basic and diluted
(0.01)
(0.01)
(0.00)
(0.02)
(0.01)
Net loss per ADS attributable to ordinary shareholders
Basic and diluted
(0.51)
(0.65)
(0.22)
(0.97)
(0.86)
Share-based compensation expenses are included in the operating expenses as follows:
Sales and marketing expenses
(37)
(29)
(31)
(85)
(60)
Product development expenses
(36)
(33)
(24)
(90)
(57)
General and administrative expenses
(126)
(225)
(180)
(246)
(405)
51TALK ONLINE EDUCATION GROUP
Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures
(In thousands except for number of shares and per share data)
For the three months ended
For the six months ended
Jun. 30,
Mar. 31,
Jun. 30,
Jun. 30,
Jun. 30,
2023
2024
2024
2023
2024
US$
US$
US$
US$
US$
Sales and marketing expenses
(5,109)
(7,728)
(7,335)
(9,550)
(15,063)
Less: Share-based compensation expenses
(37)
(29)
(31)
(85)
(60)
Non-GAAP sales and marketing expenses
(5,072)
(7,699)
(7,304)
(9,465)
(15,003)
Product development expenses
(694)
(945)
(851)
(1,356)
(1,796)
Less: Share-based compensation expenses
(36)
(33)
(24)
(90)
(57)
Non-GAAP product development
expenses
(658)
(912)
(827)
(1,266)
(1,739)
General and administrative expenses
(2,053)
(2,589)
(2,789)
(3,812)
(5,378)
Less: Share-based compensation expenses
(126)
(225)
(180)
(246)
(405)
Non-GAAP general and administrative
expenses
(1,927)
(2,364)
(2,609)
(3,566)
(4,973)
Operating expenses
(7,856)
(11,262)
(10,975)
(14,718)
(22,237)
Less: Share-based compensation expenses
(199)
(287)
(235)
(421)
(522)
Non-GAAP operating expenses
(7,657)
(10,975)
(10,740)
(14,297)
(21,715)
Loss from operations
(2,950)
(3,944)
(2,415)
(5,502)
(6,359)
Less: Share-based compensation expenses
(199)
(287)
(235)
(421)
(522)
Non-GAAP loss from operations
(2,751)
(3,657)
(2,180)
(5,081)
(5,837)
51TALK ONLINE EDUCATION GROUP
Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures
(In thousands except for number of shares and per share data)
For the three months ended
For the six months ended
Jun. 30,
Mar. 31,
Jun. 30,
Jun. 30,
Jun. 30,
2023
2024
2024
2023
2024
US$
US$
US$
US$
US$
Income tax benefit/(expenses)
61
(22)
(41)
52
(63)
Less: Tax impact of Share-based compensation
expenses
–
–
–
–
–
Non-GAAP income tax benefit/(expenses)
61
(22)
(41)
52
(63)
Net loss attributable to the Company’s ordinary
shareholders
(2,898)
(3,724)
(1,247)
(5,501)
(4,971)
Less: Share-based compensation expenses
(199)
(287)
(235)
(421)
(522)
Non-GAAP net loss attributable to the
Company’s ordinary shareholders
(2,699)
(3,437)
(1,012)
(5,080)
(4,449)
Weighted average number of ordinary shares used
in computing basic and diluted loss per share
340,329,892
345,124,338
346,701,530
339,836,750
345,913,731
Non-GAAP net loss per share attributable to ordinary shareholders
Basic and Diluted
(0.01)
(0.01)
(0.00)
(0.01)
(0.01)
Non-GAAP net loss per ADS attributable to ordinary shareholders
Basic and Diluted
(0.48)
(0.60)
(0.18)
(0.90)
(0.77)
View original content:https://www.prnewswire.com/news-releases/51talk-online-education-group-announces-second-quarter-2024-results-302229388.html
SOURCE 51Talk Online Education Group
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May 6, 2026By
BTQ provides strategic advisory support and QSSN as core PQC security infrastructure for the iM Bank initiative on the Kaia mainnet, advancing post-quantum migration across global financial infrastructure
BTQ has been selected as the core post-quantum cryptography security technology provider for South Korea’s first bank-led KRW stablecoin proof-of-concept, delivering its Quantum Secure Stablecoin Settlement Network (“QSSN”) for the initiative.
BTQ is providing strategic advisory support and helping coordinate implementation across the partnership with iM Bank and Finger, supporting the integration of post-quantum protections into regulated digital money infrastructure.
Built on the Kaia mainnet, the proof-of-concept is connected to the blockchain ecosystems originally developed by Kakao and LINE, linking the initiative to two of the largest messaging and digital platform ecosystems in Korea and Japan.
VANCOUVER, BC, May 6, 2026 /PRNewswire/ – BTQ Technologies Corp. (“BTQ” or the “Company”) (Nasdaq: BTQ) (CBOE CA: BTQ), a global quantum technology company focused on securing mission-critical networks, today announced that it it has been selected as the core PQC security technology provider through its Quantum Secure Stablecoin Settlement Network (“QSSN”) in a proof-of-concept with its Korean strategic partner, Finger Inc. (“Finger”), and iM Bank, a leading Korean commercial bank, for South Korea’s first bank-led Korean won stablecoin infrastructure incorporating post-quantum cryptography (“PQC”).
The proof-of-concept represents more than a technical pilot. It marks an important step in bringing next-generation quantum security into banking infrastructure within Korea’s regulated financial system. In addition to providing QSSN as the core PQC security framework, BTQ is contributing consulting and strategic coordination across the three-way partnership, helping align the project’s security architecture, implementation approach, and long-term post-quantum migration objectives.
“Post-quantum migration requires more than a cryptographic upgrade. It requires coordination across infrastructure, implementation, and institutional stakeholders,” said Olivier Roussy Newton, Chief Executive Officer of BTQ Technologies. “In this initiative, BTQ is providing both strategic advisory support and QSSN as the post-quantum security architecture, while helping lead coordination across the three-way partnership. We believe this proof-of-concept demonstrates how financial institutions can begin integrating quantum-resilient protections into digital money systems in a practical and operationally viable way.”
South Korea’s First Bank-Led PQC Stablecoin Infrastructure Initiative
BTQ is working alongside iM Bank and Finger on a three-way initiative to validate the issuance and distribution infrastructure for a Korean won stablecoin. In addition to supplying QSSN as the PQC security layer, BTQ is providing consulting support and helping to guide coordination across the partnership as the parties evaluate how to integrate post-quantum protections into bank-led digital asset infrastructure.
The proof-of-concept will validate several key components, including real-time reconciliation between bank reserves and blockchain-issued supply, a global-standard smart contract architecture, connectivity to global infrastructure for overseas distribution, and the integration of a PQC-based dual-signature security structure. By applying BTQ’s PQC signature architecture alongside the existing ECDSA cryptographic framework, the system is designed to preserve operational continuity for financial institutions while proactively addressing future quantum computing threats.
Built on Kaia Mainnet
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QSSN as the Security Layer
The PQC security foundation for the initiative is BTQ’s Quantum Secure Stablecoin Settlement Network, or QSSN, a quantum-secure network architecture designed for stablecoin, tokenized deposit, payment, and digital asset infrastructure. QSSN is designed to protect critical issuer functions, including stablecoin issuance, burning, transfer authority, upgrade control, and administrative permissions, by integrating PQC-based signatures while maintaining existing user experience and operational workflows.
BTQ has previously announced that QSSN was highlighted in the U.S. Post-Quantum Financial Infrastructure Framework (“PQFIF”) as a model architecture for post-quantum digital money infrastructure. The Company has also positioned QSSN as a standards-oriented initiative advanced through QuINSA and aligned with emerging post-quantum financial infrastructure requirements.
Addressing the Harvest-Now, Decrypt-Later Risk
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About iM Bank
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About Finger Inc. Group
Finger supplies and develops financial IT solutions to provide optimized money management strategies for employees and corporate customers. Providing “Smartphone Financial Services”, “Corporate Cash Management Services” for businesses, “Private Wealth Management Services” for private consumers.
Since the year 2000, Finger has accumulated a number of awards and patents regarding its businesses. Based on its Mobile Enterprise Application Platform(MEAP) Orchestra and its funds management system using screen-scrapping technologies, Finger was the first company in Korea to deliver a smartphone banking banking-service. For more information, please visit http://www.finger.co.kr/
About BTQ
BTQ Technologies Corp. (Nasdaq: BTQ | Cboe CA: BTQ) is a quantum technology company focused on accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio and deep technical expertise, BTQ is advancing a full-stack, neutral-atom quantum computing platform spanning hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense.
Connect with BTQ: Website | LinkedIn | X/Twitter
ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as “anticipate”, “intend”, “expect”, “plan” or “may” and the variations of these words are intended to identify forward-looking statements and information.
The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company’s research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
View original content to download multimedia:https://www.prnewswire.com/news-releases/btq-technologies-qssn-selected-as-core-security-infrastructure-for-south-koreas-first-bank-led-krw-stablecoin-proof-of-concept-302763840.html
SOURCE BTQ Technologies Corp.
Technology
Zimmer Biomet to Present at the BofA Securities 2026 Health Care Conference
Published
6 hours agoon
May 6, 2026By
WARSAW, Ind., May 6, 2026 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced that members of the Zimmer Biomet management team will participate in the Bank of America Securities Health Care Conference on Wednesday, May 13, 2026, with a fireside chat at 8:40 a.m. PT (11:40 a.m. ET).
A live audio webcast can be accessed via Zimmer Biomet’s Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the fireside chat.
About Zimmer Biomet
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.
With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation.
For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.
Contacts:
Media
Investors
Troy Kirkpatrick
David DeMartino
614-284-1926
646-531-6115
troy.kirkpatrick@zimmerbiomet.com
david.demartino@zimmerbiomet.com
Kirsten Fallon
Zach Weiner
781-779-5561
908-591-6955
View original content to download multimedia:https://www.prnewswire.com/news-releases/zimmer-biomet-to-present-at-the-bofa-securities-2026-health-care-conference-302763299.html
SOURCE Zimmer Biomet Holdings, Inc.
Technology
NextLadder Ventures Announces Co-Founder Leadership Team, Investment Focus Areas For Over $1 Billion Initiative Empowering Americans with Personalized, Tech-Enabled Support Tools
Published
6 hours agoon
May 6, 2026By
New senior hires from Google and The Collaborative Fund to lead product strategy and venture investing
Fund unveils first investment focus areas to catalyze new ‘Navigation Technology’ market, equipping Americans with cutting-edge tools to achieve economic security, opportunity and empowerment
ST. LOUIS, May 6, 2026 /PRNewswire/ — NextLadder Ventures, a new fund backed by more than $1 billion in capital, today announced its priority investment areas for building a new market for “Navigation Technology” (NavTech) — tools that provide Americans with personalized solutions to navigate life’s challenges and achieve greater economic mobility — and announced its co-founding team, including two new senior hires.
The fund’s active focus areas are based on extensive research identifying the key experiences and high-stakes decision points that have an outsized impact on American families’ economic mobility. Launched investment areas include financial health, career navigation, and benefits and social services access, with further exploration underway around housing, legal aid, justice and re-entry, and mental and physical health.
The organization is also today welcoming two senior leaders: Lauren Loktev is joining NextLadder as Managing Director of Investments and Brigitte Hoyer Gosselink as Managing Director of Product. Loktev was most recently a partner at the Collaborative Fund, where she backed several breakout companies in early child development, education, and sustainability. Gosselink comes to NextLadder from Google, where she led the company’s AI and social impact portfolio. They join a growing team which has deep expertise at the intersection of economic mobility, technology, public policy, and philanthropy.
NextLadder’s Focus Areas for Investment
Today, the fund is kicking off a plan to deploy $1 billion over the next seven years to accelerate the design, development, and deployment of accessible NavTech tools that aim to help families more successfully navigate the major life experiences that determine whether they get ahead or fall behind. As NextLadder’s inaugural frontier AI lab partner, Anthropic is supporting the build-out of the organization’s AI-native capabilities and is offering technical assistance to NextLadder’s portfolio organizations.
As an increasing proportion of Americans across income levels find themselves overextended and overwhelmed, NavTech tools are designed to help individuals and families understand their options, connect to information and resources, and take action to recover from a setback or take advantage of an opportunity and reclaim their economic futures.
“Life is getting harder, and too many Americans are stuck facing some of the most complex and consequential moments of their lives without much support,” said Ryan Rippel, CEO of NextLadder Ventures. “Every day, millions in this country face fork-in-the-road decisions that have major implications on whether they climb up the economic ladder or fall farther behind. AI has understandably intensified many Americans’ anxieties about their jobs and their security in the economy. But these technologies are now also making it possible to deliver highly personalized, affordable tools to meet the needs of tens of millions of Americans in a way that has never been practically achievable or financially viable before. With NavTech tools, built for the reality of families’ everyday experiences, we can empower Americans to overcome setbacks, navigate life’s toughest financial decisions, and build more secure futures.”
NavTech tools, built with the needs of individuals, families, and trusted community partners at the center of their design, have the potential to ease burdens most acutely faced by 90 million Americans who live in households that have difficulty in paying for usual home expenses, and turbocharge the capacity of the 1.6 million community workers in non-profit or local, state, and federal government roles who serve them. This growing category of digital technologies includes tools that help families access opportunities such as personalized financial advice and legal aid, get connected with available resources and programs, and manage unexpected hurdles like losing a job or facing an eviction – while freeing social workers and service providers to spend more time on people and less time on red tape and paperwork.
The fund’s active investment areas include:
Financial Health: Developing highly personalized, AI-powered financial health tools that can provide tailored, sustained counsel to help users build savings and protect and recover from financial shocks;
Career Navigation: Building tools to support career navigation, manage and support career transitions, and help workers, case managers, and employers identify pathways to living wage work — all designed to help people successfully find the right jobs for them.
Benefits & Social Services Access: Helping eligible Americans seamlessly identify and enroll in all the benefits and social services available to them, particularly those that support career navigation and transitions, help them navigate critical life moments, and achieve stability toward economic opportunity.
NextLadder is exploring additional focus areas, including housing, legal aid, justice and re-entry, caregiving, and mental and physical health. More on the organization’s vision of these focus areas is available HERE.
In addition to backing direct NavTech solutions, NextLadder is investing in the developers, partners, and standards required to build a durable, self-sustaining market. Across all focus areas, the fund is prioritizing efforts to ensure NavTech tools are reliable, protect users’ privacy, and are trusted by the families who depend on them.
NextLadder’s Co-Founder Leadership Team
NextLadder’s five co-founders will be CEO Ryan Rippel, Chief Strategy and Operations Officer Rhett Dornbach-Bender, Chief of Staff Callie Schwartz, and the two new senior hires: Managing Director of Investments Lauren Loktev and Managing Director of Product Brigitte Hoyer Gosselink, rounding out the fund’s expertise in investing, technology, and impact.
“We’re thrilled to welcome Lauren and Brigitte to the NextLadder team,” said Rippel. “Brigitte has spent her career proving that when applied purposefully, AI and technology can deliver meaningful benefits for communities, and she’ll set the bar for what NavTech tools can deliver for American families today and in the years to come. And with her deep experience backing mission-driven founders, Lauren is the perfect leader to build our venture practice from the ground up and accelerate the growth of the NavTech field. With this team in place, we’re positioned to make NavTech tools easier to build, fund, and access so they reach the people who need them most.”
Loktev brings 15 years of venture capital experience investing at the intersection of for-profit and for-good. Most recently at Collaborative Fund, she backed several companies to significant scale and launched Collab+Sesame, a first-of-its-kind thematic seed fund in partnership with Sesame Workshop focused on early childhood education. At NextLadder, she will build and lead the fund’s venture practice, sourcing and scaling investments in the founders building the next generation of NavTech tools.
“We have a once in a generation opportunity to help steer AI solutions toward those who need them most,” said Loktev. “Many amazing, accomplished founders see this too, and they are on a mission to build scalable, transformative businesses in the critical verticals that help people navigate life-changing moments. I couldn’t be more excited to join NextLadder and to support the most inspiring leaders building this market from the ground up. Thanks to our unique, long-term mandate, we can be creative and flexible in investing across stage and check size to partner with the entrepreneurs and leaders we believe will change the world.”
Prior to her role at NextLadder, Gosselink spent over a decade at Google in several roles including Director of AI and Social Impact, directing more than $500 million in funding for organizations applying AI to address challenges including crisis response, education, and economic opportunity. At NextLadder, she will lead AI and product strategy across the fund’s portfolio, backing solutions and setting market-wide standards for how NavTech tools are designed, evaluated, and improved over time.
“If we collectively harness the AI transformation strategically and purposefully, we can transform the way Americans are empowered to access greater economic mobility,” said Gosselink. “We believe that people-centered products, combined with shifts in the market and the services available to families, can fundamentally reshape how millions of Americans navigate critical moments and achieve prosperity on their own terms.”
To request interviews from the NextLadder Ventures leadership team, contact media@nextladder.com.
About NextLadder Ventures
NextLadder Ventures is a time-bound venture with one goal: empower millions of Americans to reach their potential by 2040. Backed by over $1 billion in capital, the organization invests in breakthrough technologies that remove barriers to economic success and put people in control of their futures. NextLadder Ventures is trailblazing a new market for tech-enabled Navigation Technology tools that help people access the resources they need to navigate pivotal moments — offering flexible, risk-tolerant capital to entrepreneurs building these transformative tools today, while creating a pipeline of tech, talent, and capital for the long run.
SOURCE NextLadder Ventures
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