Technology

New Oriental Announces Results for the First Fiscal Quarter Ended August 31, 2024

Published

1 year ago

October 23, 2024

BEIJING, Oct. 23, 2024 /PRNewswire/ — New Oriental Education & Technology Group Inc. (the “Company” or “New Oriental”) (NYSE: EDU/ 9901.SEHK), a provider of private educational services in China, today announced its unaudited financial results for the first fiscal quarter ended August 31, 2024, which is the first quarter of New Oriental’s fiscal year 2025.

Financial Highlights for the First Fiscal Quarter Ended August 31, 2024

Total net revenues increased by 30.5% year over year to US$1,435.4 million for the first fiscal quarter of 2025. Total net revenues, excluding revenues generated from East Buy private label products and livestreaming business, increased by 33.5% year over year to US$1,278.2 million for the first fiscal quarter of 2025.Operating income increased by 42.9% year over year to US$293.2 million for the first fiscal quarter of 2025. Operating income, excluding operating loss generated from East Buy private label products and livestreaming business, increased by 58.4% year over year to US$303.1 million for the first fiscal quarter of 2025.Net income attributable to New Oriental increased by 48.4% year over year to US$245.4 million for the first fiscal quarter of 2025.

Key Financial Results

(in thousands US$, except per ADS(1) data)

1Q FY2025

1Q FY2024

% of
change

Net revenues

1,435,416

1,100,021

30.5 %

Operating income

293,150

205,124

42.9 %

Non-GAAP operating income (2)(3)

300,003

244,755

22.6 %

Net income attributable to New Oriental

245,430

165,386

48.4 %

Non-GAAP net income attributable to New Oriental (2)(3)

264,732

189,318

39.8 %

Net income per ADS attributable to New Oriental – basic

1.49

1.00

48.6 %

Net income per ADS attributable to New Oriental – diluted

1.48

0.99

49.6 %

Non-GAAP net income per ADS attributable to New Oriental – basic (2)(3)(4)

1.61

1.15

40.0 %

Non-GAAP net income per ADS attributable to New Oriental – diluted (2)(3)(4)

1.60

1.13

41.3 %

(1) Each ADS represents ten common shares. The Hong Kong-listed shares are fully fungible with the ADSs listed on NYSE.

(2) GAAP represents Generally Accepted Accounting Principles in the United States of America.

(3) New Oriental provides net income attributable to New Oriental, operating income and net income per ADS attributable to New
Oriental on a non-GAAP basis that excludes share-based compensation expenses and gain (loss) from fair value change of
investments to provide supplemental information regarding its operating performance. For more information on these non-
GAAP financial measures, please see the section captioned “About Non-GAAP Financial Measures” and the tables captioned
“Reconciliations of Non-GAAP Measures to the Most Comparable GAAP Measures” set forth at the end of this release.

(4) The Non-GAAP net income per ADS attributable to New Oriental is computed using Non-GAAP net income attributable to
New Oriental and the same number of shares and ADSs used in GAAP basic and diluted EPS calculation.

Operating Highlights for the First Fiscal Quarter Ended August 31, 2024

The total number of schools and learning centers was 1,089 as of August 31, 2024, an increase of 64 and 296 compared to 1,025 as of May 31, 2024 and 793 as of August 31, 2023, respectively. The total number of schools was 80 as of August 31, 2024.

Michael Yu, New Oriental’s Executive Chairman, commented, “We are delighted to start our fiscal year 2025 with a healthy top line growth of 30.5%. Total net revenues, excluding revenues generated from East Buy private label products and livestreaming business, increased by 33.5% year over year. Our overseas test preparation and overseas study consulting business increased by approximately 18.8% and 20.7% year over year, respectively. In addition, the domestic test preparation business targeting adults and university students recorded a growth of approximately 30.4% year over year. Furthermore, our new educational business initiatives have all sustained strong momentum in this fiscal quarter, with a revenue growth of 49.8% year over year. Among these initiatives, our non-academic tutoring courses were offered in around 60 cities, attracting approximately 484,000 student enrollments in this fiscal quarter. Simultaneously, our intelligent learning system and devices were adopted in around 60 cities, with approximately 323,000 active paid users in this fiscal quarter. Backed by our strong educational resources, we will make consistent efforts in executing our long-term vision to strike a balance between healthy and sustainable growth, while improving profitability that is supported by our enhanced service quality and operating efficiency.”

Chenggang Zhou, New Oriental’s Chief Executive Officer, added, “During this fiscal quarter, we monitored our capacity expansion closely in alignment with the revenue growth and operating efficiency. As of the end of this fiscal quarter, the total number of schools and learning centers increased to 1,089. We made ongoing efforts in revamping our online-merge-offline teaching system and applying new technologies to enhance user experience of our educational offerings. Meanwhile, driven by our focus of “high-cost performance” and multi-channel strategy, we are pleased to see East Buy’s expanded private label offerings with 488 SKUs established across diverse categories in just two years. Our ventures across online platforms, livestreaming, and a strategic expansion into offline channels through partnerships with schools under New Oriental brand and other parties, share a common vision to reach a wider consumer base in pursuit of sustainable growth. In addition, It is encouraging to see our newly integrated tourism-related business achieving tremendous growth this fiscal quarter. We initiated high-quality overseas study tours as well as domestic research camps for K-12 and university students. We also operated a number of top-notch tourism offerings for all age groups, including the middle-aged and elderly individuals, across 30 featured provinces in China and internationally. We believe this new business line will start to contribute meaningful revenues from this fiscal year. “

Stephen Zhihui Yang, New Oriental’s Executive President and Chief Financial Officer, commented, “For a better reflection of New Oriental’s core educational businesses, the following operating margin numbers in this fiscal quarter excludes the financial results of East Buy’s private label products and livestreaming business. As aligned with our expectations in the previous quarter, we managed to deliver year over year improvement of operating margin for our core educational business this fiscal quarter. Our GAAP operating margin, excluding operating margin generated from East Buy private label products and livestreaming business for the quarter, was 23.7%, representing an improvement of 370 basis points year over year. Our Non-GAAP operating margin, excluding operating margin generated from East Buy private label products and livestreaming business for the quarter, was 24.4%, representing an improvement of 220 basis points year over year. We recorded a positive operating cash flow of US$183.2 million this quarter and by the end of this fiscal quarter, our cash and cash equivalents, term deposits and short-term investments totaled approximately US$4.9 billion. For the rest of this fiscal year, we strive for further elevating utilization and improving operational efficiency. We have great confidence in creating sustainable value for our customers and shareholders in the long term.”

Share Repurchase

The Company’s board of directors approved a Share Repurchase Program in July 2022, under which the Company is authorized to repurchase up to US$400 million of the Company’s ADSs or common shares through the next twelve months. The Company’s board of directors further approved to extend the effective time of the Share Repurchase Program to May 31, 2025 and increasing the aggregate value of shares that the Company is authorized to repurchase from US$400 million to US$700 million. As of October 22, 2024, the Company repurchased an aggregate of approximately 9.8 million ADSs for approximately US$457.9 million from the open market.

Financial Results for the First Fiscal Quarter Ended August 31, 2024

Net Revenues

For the first fiscal quarter of 2025, New Oriental reported net revenues of US$1,435.4 million, representing a 30.5% increase year over year. Net revenues, excluding revenues generated from East Buy private label products and livestreaming business, were US$1,278.2 million, representing a 33.5% increase year over year. The growth was mainly driven by the increase in net revenues from our educational new business initiatives.

Operating Costs and Expenses

Operating costs and expenses for the quarter were US$1,142.3 million, representing a 27.6% increase year over year. Non-GAAP operating costs and expenses for the quarter, which exclude share-based compensation expenses, were US$1,135.4 million, representing a 32.8% increase year over year. The increase was primarily due to the cost and expenses related to the accelerated capacity expansion for educational businesses and newly integrated tourism-related business.

Cost of revenues increased by 32.3% year over year to US$583.5 million.Selling and marketing expenses increased by 42.3% year over year to US$193.7 million.General and administrative expenses for the quarter increased by 15.0% year over year to US$365.1 million. Non-GAAP general and administrative expenses, which exclude share-based compensation expenses, were US$354.5 million, representing a 22.1% increase year over year.

Total share-based compensation expenses, which were allocated to related operating costs and expenses, decreased by 82.7% to US$6.9 million in the first fiscal quarter of 2025.

Operating Income and Operating Margin

Operating income was US$293.2 million, representing a 42.9% increase year over year. Non-GAAP income from operations for the quarter was US$300.0 million, representing a 22.6% increase year over year.

Operating margin for the quarter was 20.4%, compared to 18.6% in the same period of the prior fiscal year. Non-GAAP operating margin, which excludes share-based compensation expenses, for the quarter was 20.9%, compared to 22.3% in the same period of the prior fiscal year.

Net Income and Net Income per ADS

Net income attributable to New Oriental for the quarter was US$245.4 million, representing a 48.4% increase year over year. Basic and diluted net income per ADS attributable to New Oriental were US$1.49 and US$1.48, respectively.

Non-GAAP Net Income and Non-GAAP Net Income per ADS

Non-GAAP net income attributable to New Oriental for the quarter was US$264.7 million, representing a 39.8% increase year over year. Non-GAAP basic and diluted net income per ADS attributable to New Oriental were US$1.61 and US$1.60, respectively.

Cash Flow

Net operating cash inflow for the first fiscal quarter of 2025 was approximately US$183.2 million and capital expenditures for the quarter were US$80.2 million.

Balance Sheet

As of August 31, 2024, New Oriental had cash and cash equivalents of US$1,147.0 million. In addition, the Company had US$1,513.8 million in term deposits and US$2,248.6 million in short-term investment.

New Oriental’s deferred revenue, which represents cash collected upfront from customers and related revenue that will be recognized as the services or goods are delivered, at the end of the first quarter of fiscal year 2025 was US$1,733.1 million, an increase of 23.7% as compared to US$1,401.4 million at the end of the first quarter of fiscal year 2024.

Outlook for the Second Quarter of the Fiscal Year 2025

New Oriental expects total net revenues, excluding revenues generated from East Buy private label products and livestreaming business, in the second quarter of the fiscal year 2025 (September 1, 2024 to November 30, 2024) to be in the range of US$851.4 million to US$871.8 million, representing year over year increase in the range of 25% to 28%.

This forecast reflects New Oriental’s current and preliminary view, which is subject to change.

Conference Call Information

New Oriental’s management will host an earnings conference call at 8 AM on October 23, 2024, U.S. Eastern Time (8 PM on October 23, 2024, Beijing/Hong Kong Time).

Please register in advance of the conference, using the link provided below. Upon registering, you will be provided with participant dial-in numbers, and unique personal PIN.

Conference call registration link: https://register.vevent.com/register/BI126999a0b5fd42c3987cd3a67645c9ba. It will automatically direct you to the registration page of “New Oriental FY2025 Q1 Earnings Conference Call” where you may fill in your details for RSVP.

In the 10 minutes prior to the call start time, you may use the conference access information (including dial in number(s) and personal PIN) provided in the confirmation email received at the point of registering.

Joining the conference call via a live webcast:

Additionally, a live and archived webcast of the conference call will be available at http://investor.neworiental.org.

Listening to the conference call replay:

A replay of the conference call may be accessed via the webcast on-demand by registering at https://edge.media-server.com/mmc/p/hmu6g3sb first. The replay will be available until October 23, 2025.

About New Oriental

New Oriental is a provider of private educational services in China offering a wide range of educational programs, services and products to a varied student population throughout China. New Oriental’s program, service and product offerings mainly consist of educational services and test preparation courses, private label products and livestreaming e-commerce, overseas study consulting services, and educational materials and distribution. New Oriental is listed on NYSE (NYSE: EDU) and SEHK (9901.SEHK), respectively. New Oriental’s ADSs, each of which represents ten common shares, are listed and traded on the NYSE. The Hong Kong-listed shares are fully fungible with the ADSs listed on NYSE.

For more information about New Oriental, please visit http://www.neworiental.org/english/.

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. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the outlook for the second quarter of fiscal year 2025, quotations from management in this announcement, as well as New Oriental’s strategic and operational plans, contain forward-looking statements. New Oriental may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports 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 New Oriental’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: our ability to effectively and efficiently manage changes of our existing business and new business; our ability to execute our business strategies; uncertainties in relation to the interpretation and implementation of or proposed changes to, the PRC laws, regulations and policies regarding the private education industry; our ability to attract students without a significant increase in course fees; our ability to maintain and enhance our “New Oriental” brand; our ability to maintain consistent teaching quality throughout our school network, or service quality throughout our brand; our ability to achieve the benefits we expect from recent and future acquisitions; the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright and other intellectual property rights; competition in the private education sector and livestreaming e-commerce business in China; the continuing efforts of our senior management team and other key personnel, health epidemics and other outbreaks in China; and general economic conditions in China. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. New Oriental does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and New Oriental undertakes no duty to update such information, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement New Oriental’s consolidated financial results presented in accordance with GAAP, New Oriental uses the following measures defined as non-GAAP financial measures by the SEC: net income excluding share-based compensation expenses and gain (loss) from fair value change of investments, operating income excluding share-based compensation expenses, operating cost and expenses excluding share-based compensation expenses, general and administrative expenses excluding share-based compensation expenses, operating margin excluding share-based compensation expenses, and basic and diluted net income per ADS and per share excluding share-based compensation expenses and gain (loss) from fair value change of investments. 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 tables captioned “Reconciliations of non-GAAP measures to the most comparable GAAP measures” set forth at the end of this release.

New Oriental believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses and gain (loss) from fair value change of investments that may not be indicative of its operating performance from a cash perspective. New Oriental believes that both management and investors benefit from referring to 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 New Oriental’s historical performance and liquidity. New Oriental 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 these non-GAAP measures is that they exclude share-based compensation charge and gain (loss) from fair value change of investments that has been and will continue to be for the foreseeable future a significant recurring expense in our business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.

Contacts

For investor and media inquiries, please contact:

Ms. Rita Fong                                                    Ms. Sisi Zhao
FTI Consulting                                                   New Oriental Education & Technology Group Inc.
Tel:        +852 3768 4548 Tel:         +86-10-6260-5568
Email:    rita.fong@fticonsulting.com Email: zhaosisi@xdf.cn

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

As of August 31

As of May 31

2024

(Unaudited)

(Audited)

USD

ASSETS:

Current assets:

Cash and cash equivalents

1,146,959

1,389,359

Restricted cash, current

180,671

177,411

Term deposits, current

1,411,444

1,320,167

Short-term investments

2,248,568

2,065,579

Accounts receivable, net

34,461

29,689

Inventory, net

95,354

92,806

Prepaid expenses and other current assets, net

369,193

309,464

Amounts due from related parties, current

4,643

4,403

Total current assets

5,491,293

5,388,878

Restricted cash, non-current

23,521

22,334

Term deposits, non-current

102,327

169,203

Property and equipment, net

704,270

507,981

Land use rights, net

4,488

4,450

Amounts due from related parties, non-current

13,880

7,273

Long-term deposits

40,280

38,161

Intangible assets, net

17,596

18,672

Goodwill, net

105,757

103,958

Long-term investments, net

365,453

355,812

Deferred tax assets, net

71,626

72,727

Right-of-use assets

701,090

653,905

Other non-current assets

67,537

188,319

Total assets

7,709,118

7,531,673

LIABILITIES AND EQUITY

Current liabilities:

Accounts payable

101,989

105,681

Accrued expenses and other current liabilities

702,086

774,805

Income taxes payable

205,450

139,822

Amounts due to related parties

452

551

Deferred revenue

1,733,126

1,780,063

Operating lease liability, current

222,441

199,933

Total current liabilities

2,965,544

3,000,855

Deferred tax liabilities

16,605

19,407

Unsecured senior notes

14,403

Operating lease liabilities, non-current

473,627

447,994

Total long-term liabilities

504,635

481,804

Total liabilities

3,470,179

3,482,659

Equity

New Oriental Education & Technology Group Inc. shareholders’ equity

3,968,629

3,775,934

Non-controlling interests

270,310

273,080

Total equity

4,238,939

4,049,014

Total liabilities and equity

7,709,118

7,531,673

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands except for per share and per ADS amounts)

For the Three Months Ended August 31

2024

2023

(Unaudited)

USD

Net revenues

1,435,416

1,100,021

Operating cost and expenses (note 1)

Cost of revenues

583,521

441,218

Selling and marketing

193,692

136,121

General and administrative

365,053

317,558

Total operating cost and expenses

1,142,266

894,897

Operating income

293,150

205,124

(Loss)/Gain from fair value change of investments

(11,913)

7,248

Other income, net

39,087

34,728

Provision for income taxes

(77,551)

(62,530)

Gain/(Loss) from equity method investments

210

(8,496)

Net income

242,983

176,074

Add: Net loss/ (income) attributable to non-controlling interests

2,447

(10,688)

Net income attributable to New Oriental Education &
Technology Group Inc.’s shareholders

245,430

165,386

Net income per share attributable to New Oriental-Basic
(note 2)

0.15

0.10

Net income per share attributable to New Oriental-Diluted
(note 2)

0.15

0.10

Net income per ADS attributable to New Oriental-Basic
(note 2)

1.49

1.00

Net income per ADS attributable to New Oriental-Diluted
(note 2)

1.48

0.99

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

RECONCILIATIONS OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP MEASURES

(In thousands except for per share and per ADS amounts)

For the Three Months Ended August 31

2024

2023

(Unaudited)

USD

General and administrative expenses

365,053

317,558

Less: Share-based compensation expenses in
general and administrative expenses

10,598

27,232

Non-GAAP general and administrative expenses

354,455

290,326

Total operating cost and expenses

1,142,266

894,897

Less: Share-based compensation expenses

6,853

39,631

Non-GAAP operating cost and expenses

1,135,413

855,266

Operating income

293,150

205,124

Add: Share-based compensation expenses

6,853

39,631

Non-GAAP operating income

300,003

244,755

Operating margin

20.4 %

18.6 %

Non-GAAP operating margin

20.9 %

22.3 %

Net income attributable to New Oriental

245,430

165,386

Add: Share-based compensation expenses

7,389

31,180

Less: (Loss)/Gain from fair value change of
investments

(11,913)

7,248

Non-GAAP net income attributable to New Oriental

264,732

189,318

Net income per ADS attributable to New Oriental-
Basic (note 2)

1.49

1.00

Net income per ADS attributable to New Oriental-
Diluted (note 2)

1.48

0.99

Non-GAAP net income per ADS attributable to New
Oriental – Basic (note 2)

1.61

1.15

Non-GAAP net income per ADS attributable to New
Oriental – Diluted (note 2)

1.60

1.13

Weighted average shares used in calculating basic
net income per ADS (note 2)

1,648,666,786

1,651,203,885

Weighted average shares used in calculating
diluted net income per ADS (note 2)

1,659,034,134

1,665,318,691

Non-GAAP net income per share – basic

0.16

0.11

Non-GAAP net income per share – diluted

0.16

0.11

Notes:

Note 1: Share-based compensation expenses (in thousands) are included in the operating cost and expenses as
follows:

For the Three Months Ended August 31

2024

2023

(Unaudited)

USD

Cost of revenues

(3,146)

4,972

Selling and marketing

(599)

7,427

General and administrative

10,598

27,232

Total

6,853

39,631

Note 2: Each ADS represents ten common shares.

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

For the Three Months Ended August 31

2024

2023

(Unaudited)

USD

Net cash provided by operating activities

183,210

335,786

Net cash used in investing activities

(295,156)

(208,166)

Net cash used in financing activities

(153,494)

(12,991)

Effect of exchange rate changes

27,487

(29,335)

Net change in cash, cash equivalents and restricted cash

(237,953)

85,294

Cash, cash equivalents and restricted cash at beginning
of period

1,589,104

1,805,427

Cash, cash equivalents and restricted cash at end of
period

1,351,151

1,890,721

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SOURCE New Oriental Education and Technology Group Inc.

Technology

Sunlighten Introduces PulseIQ™: The Intelligent Platform Redefining Infrared Wellness

Published

60 minutes ago

April 21, 2026

PulseIQ™ delivers four distinct wavelengths independently, adapting each session to support recovery, relaxation, and performance.

OVERLAND PARK, Kan., April 21, 2026 /PRNewswire/ — Sunlighten, the global leader in infrared sauna innovation, today announced the launch of PulseIQ™, its proprietary intelligent wellness platform. This breakthrough sets a new standard for how infrared energy is delivered, absorbed, and translated into personalized wellness outcomes.

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A Category Built on Heat. Reimagined Around Outcomes.

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From One-Dimensional Heat to Personalized Infrared Therapy

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Red light supports skin health and surface-level repairNear-infrared supports cellular energy and recoveryMid-infrared supports circulation and muscle recoveryFar-infrared supports core temperature and detoxification

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Engineering the Future of Infrared Wellness

For more than 25 years, Sunlighten has led the industry through science, innovation, and a deep understanding of how the body responds to infrared energy.

PulseIQ™ builds on that foundation with a clear focus on what matters most to consumers.

Not just heat.
Not just presence of wavelengths.
But how effectively that energy is delivered and absorbed by the body.

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Redefining What Infrared Should Deliver

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This is not about turning heat on and off.
This is about controlling the energy your body receives.

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1 intelligent sauna platform4 precisely controlled, distinct wavelengths6 guided, science-backed wellness programsA system designed to evolve and personalize over time

Better delivery leads to greater absorption.
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This is infrared intelligence. This is PulseIQ™.

About Sunlighten

Sunlighten is the global leader in infrared sauna and light-based wellness innovation. With more than 25 years of expertise, patented technologies, and a commitment to science-backed performance, Sunlighten designs products that help the body perform, recover, and thrive.

Contact:

Maria Dolgetta

mdolgetta@sunlighten.com

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SOURCE Sunlighten

Technology

Novita AI Ranked as the Best Performing & Reliable Inference Layer

Published

60 minutes ago

April 21, 2026

120+ LLMs through a single API, with day-0 model availability, OpenAI and Anthropic compatibility, and top-ranked performance validated by Artificial Analysis.

SAN FRANCISCO, April 21, 2026 /PRNewswire/ — As demand for open-source AI infrastructure grows, Novita AI is establishing itself as the inference provider for developers and engineering teams that need fast and affordable inference for production AI. The platform covers more than 120 large language models through a single OpenAI-compatible and Anthropic-compatible API, makes every new model available on release day, and ranked #1 for scientific reasoning accuracy across all major inference providers, according to independent benchmarking by Artificial Analysis.

Novita AI is trusted by leading teams across the AI ecosystem, including Hugging Face, Quora, OpenRouter, Vercel, Kilo Code, and Genspark.

“Open-source AI moves at a pace that most infrastructure hasn’t kept up with,” said Junyu Huang, COO of Novita AI. “We built Novita to close that gap. When a new model ships, developers can be in production with it the same day, on infrastructure they can actually rely on.”

Artificial Analysis provides comparison and analysis of AI models and API hosting providers, with independent benchmarks across key performance metrics including quality, price, and output speed. In its GPT-OSS 120B assessment covering all major inference providers, Novita AI ranked as follows (April 2026):

GPQA Diamond (scientific reasoning): #1 among all providers, scoring 79.0% across 16 runs

AIME 2025 (advanced mathematics): 93.3% across 32 runs, at the level of the top providers

IFBench (instruction following): #5, scoring 68.9%, within 0.8 points of the top provider

Source: Artificial Analysis GPT-OSS-120B Provider Benchmarks, April 2026.

New models ship constantly. Novita AI makes each one available through its API on release day, without exception. For engineering teams running evaluation pipelines or production systems that depend on current models, access is never the bottleneck.

Novita AI hosts more than 120 LLMs across every major model family, including Qwen, DeepSeek, LLaMA, Mistral, Gemma, GLM, Phi, and more. All models share the same API format, authentication, and SDK. Teams on the OpenAI or Anthropic SDK can switch to Novita by changing the base URL.

Novita’s API works out of the box with Claude Code, OpenClaw, Codex CLI, and OpenCode.

Novita AI delivers fast inference with the full feature set production AI teams depend on, with no tiered restrictions or add-ons.

Tool calling: compliant with OpenAI and Anthropic function-calling specifications, supporting multi-turn agent workflows

Structured outputs: JSON responses that conform to a specified schema, no parsing wrappers needed

Prompt caching: lower latency and token costs for RAG pipelines and agent sessions with repeated context

Novita AI is an AI and agent cloud platform helping developers and startups build, deploy, and scale models and agentic applications with high performance, reliability, and cost efficiency. The platform delivers fast inference across 120+ LLMs and multimodal models through a single API, alongside GPU Instances, Bare Metal, and Agent Sandbox infrastructure built for production AI.

For more information, visit novita.ai.

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SOURCE Novita AI

Technology

Arasan acheives the Industrys First ASIL-D Certification for its CAN XL IP Core

Published

60 minutes ago

April 21, 2026

Arasan announces the industry’s first ASIL-D Certification for its CAN XL IP. The certification also covers Arasan’s CAN FD IP and CAN 2.0 IP.

SAN JOSE, Calif., Apr. 21, 2026 /PRNewswire/ — Arasan Chip Systems, the industry’s leading provider of IP for Mobile and Automobile SoC’s, announced today that its CAN XL IP has achieved the ASIL-D Certification. The CAN XL IP has been independently certified by SGS-TÜV Saar as ASIL-D, the highest safety level of functional safety defined in ISO 26262, the international standard for functional safety in road vehicles.

The CAN XL IP is backward compatible with the CAN FD and CAN 2.0 standards. The ASIL-D certification also covers Arasan’s CAN FD IP and CAN 2.0 IP which will continue to be sold as ASIL-D certified independent products.

Arasan is offering a free upgrade to its CAN XL IP for customers interested in licensing CAN FD until June 30, 2026. The gate count increase from CAN FD to CAN XL is minimal and customers are encouraged to leverage this promotion to adopt the latest version of the CAN Specification, CAN XL.

“Arasan’s IP have been used extensively in mission critical and life endangering applications in defense, nuclear, aerospace, medical and automotive ADAS SoC’s ” said Ron Mabry, VP of Sales at Arasan. “The ASIL-D Certification attests to our fail safe design philosophy”.

Arasan’s has an extensive portfolio of ASIL-B, ASIL-C and ASIL-D certified products including the MIPI DSI-2 IP for Display, MIPI CSI-2 IP for Camera both of which are seamlessly integrated with the MIPI D-PHY IP or the MIPI C-PHY IP, JEDEC eMMC IP for storage and UNH Certified automotive grade Ethernet IP when high speed automotive connectivity is required.

For more information, please visit: https://www.arasan.com/product/can-bus-controller-ip/

Availability

ASIL-D certified CAN IP products, including the CAN XL IP, CAN FD IP and CAN 2.0 IP, are available to license immediately from Arasan. Please contact sales@arasan.com to license our CAN IP.

Arasan Chip Systems, founded in 1995 is a provider of IP solutions for mobile storage and connectivity interfaces. Arasan’s focus lies in mobile SoCs, which have evolved to encompass a wide range of applications, from PDAs in the mid-’90s to today’s automobiles, drones, and IoT devices. Arasan remains at the forefront of this “Mobile” evolution, providing standards-based IP that forms the foundation of Mobile SoCs. Over a billion chips have been shipped with Arasan’s IP.

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SOURCE Arasan Chip Systems, Inc.