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AudioCodes Reports Third Quarter 2024 Results

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OR YEHUDA, Israel, Nov. 6, 2024 /PRNewswire/ — 

Third Quarter Highlights

Quarterly revenues decreased by 2.2% year-over-year to $60.2 million;Quarterly service revenues increased by 6.4% year-over-year to $32.5 million;GAAP results:
– Quarterly GAAP gross margin was 65.2%;
– Quarterly GAAP operating margin was 8.1%;
– Quarterly GAAP EBITDA was $5.9 million;
– Quarterly GAAP net income was $2.7 million, or $0.09 per diluted share. Non-GAAP results:
– Quarterly Non-GAAP gross margin was 65.6%;
– Quarterly Non-GAAP operating margin was 11.7%;
– Quarterly Non-GAAP EBITDA was $7.9 million;
– Quarterly Non-GAAP net income was $4.9 million, or $0.16 per diluted share.Net cash provided by operating activities was $7.9 million for the quarter.AudioCodes repurchased 332,709 of its ordinary shares during the quarter at an aggregate cost of $3.6 million.

Details

AudioCodes (NASDAQ: AUDC), a leading provider of unified communications voice, contact center and conversational AI applications and services for enterprises, today announced its financial results for the third quarter ended September 30, 2024.

Revenues for the third quarter of 2024 were $60.2 million compared to $61.6 million for the third quarter of 2023.

EBITDA for the third quarter of 2024 was $5.9 million compared to $6.4 million for the third quarter of 2023.

On a Non-GAAP basis, EBITDA for the third quarter of 2024 was $7.9 million compared to $10.1 million for the third quarter of 2023.

Net income was $2.7 million, or $0.09 per diluted share, for the third quarter of 2024 compared to net income of $4.3 million, or $0.14 per diluted share, for the third quarter of 2023.

On a Non-GAAP basis, net income was $4.9 million, or $0.16 per diluted share, for the third quarter of 2024 compared to $8.3 million, or $0.25 per diluted share, for the third quarter of 2023.

Non-GAAP net income excludes: (i) share-based compensation expenses; (ii) amortization expenses related to intangible assets; (iii) expenses related to deferred payments in connection with the acquisition of Callverso Ltd; (iv) financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies; (v) tax impact which relates to our Non-GAAP adjustments; and (vi) in Q1 2024 non-cash lease expense which is required to be recorded during the quarter even though this is a free rent period under the lease for the Company’s new headquarters. A reconciliation of net income on a GAAP basis to a non-GAAP basis is provided in the tables that accompany the condensed consolidated financial statements contained in this press release.

Net cash provided by operating activities was $7.9 million for the third quarter of 2024. Cash and cash equivalents, short-term bank deposits, long and short-term marketable securities and long-term financial investments were $88.4 million as of September 30, 2024 compared to $106.7 million as of December 31, 2023. The decrease in cash and cash equivalents, short-term bank deposits, long and short-term marketable securities and long-term financial investments was the result of the use of cash for the continued repurchasing of the Company’s ordinary shares pursuant to its share repurchase program and the payment of a cash dividend during each of the first and third quarters of 2024 and purchase of property and equipment related to leasehold improvements of our new corporate headquarter in Israel, offset, in part, by cash from operating activities.

“I am pleased to report we have successfully executed against our strategic priorities this quarter, as we continue to make progress in our long-term goal of leading the voice services market for the UCaaS and CX markets. We continued our transformation to become a cloud software and services company with a higher proportion of recurring revenue vs. legacy perpetual revenues,” said Shabtai Adlersberg, President and Chief Executive Officer of AudioCodes.

Third quarter services revenues grew 6.4% year-over-year and accounted for 53.9% of revenues, the highest on record for us. Fueling the strength of our services revenue stream as our primary growth engines were Live managed services (consisting of Live Teams and Live CX) and conversational AI. Specifically, Live Teams business grew 21% year over year and accounted for 44% of total Microsoft business compared to 37% a year ago. On conversational AI, third quarter dollar value of contracts signed increased roughly 50% vs the year ago period.

Our success in building Live managed services and recurring revenue stream has translated to strong year-over-year ARR growth of 40%, ending 3Q at $60 million ARR, up from $48 million exiting 2023. This success is owed to the trust we have built throughout the years with partners and enterprise customers in the voice services space. There is no better proof than our long-standing multi-year partnership with AT&T in North America, leveraging our expertise in providing secure voice connectivity to help their business customers onboard to Microsoft Teams. This fruitful partnership has contributed multi-millions of annual recurring revenues over the last several years.

Speaking of conversational AI, strong operational momentum continues, driven by long-term tailwind of infusing AI into UC and CX workflows in customers’ inexorable demand to drive ongoing productivity gains.  Accordingly, we have seen significant pick-up in pipeline activities across our entire conversational AI suite, including Voca CIC, our AI first CX solution for Microsoft Teams, SaaS Recording solutions such as Meeting Insights and interaction recording, and Voice AI Connect.

Overall, we delivered on our business priorities in the quarter, with the strength in our Live recurring businesses buttressing the healthy overall pipeline for our major practices such as Microsoft business, CX and Conversational AI.  We believe this bodes well for seeing improved top-line growth performance as we head into 2025 and beyond,” concluded Mr. Adlersberg.

Share Buy Back Program and Cash Dividend

In July 2024, the Company received court approval in Israel to purchase up to an aggregate amount of $20 million of additional ordinary shares. The court approval also permits AudioCodes to declare a dividend out of any part of this amount. The approval is valid through January 1, 2025.

On July 30, 2024, the Company declared a cash dividend of 18 cents per share. The dividend, in the aggregate amount of approximately $5.4 million, was paid on August 29, 2024, to all of the Company’s shareholders of record on August 15, 2024.

During the quarter ended September 30, 2024, the Company acquired 332,709 of its ordinary shares under its share repurchase program for a total consideration of $3.6 million.

As of September 30, 2024, the Company had $11 million available under this approval for the repurchase of shares and/or declaration of cash dividends.

Conference Call & Web Cast Information

AudioCodes will conduct a conference call at 8:30 A.M., Eastern Time today to discuss the Company’s third quarter of 2024 operating performance, financial results and outlook. Interested parties may participate in the conference call by dialing one the following numbers:

United States Participants: 888-506-0062

International Participants: +1 (973) 528-0011

The conference call will also be simultaneously webcast. Investors are invited to listen to the call live via webcast at the AudioCodes investor website at http://www.audiocodes.com/investors-lobby.

About AudioCodes

AudioCodes (NASDAQ, TASE: AUDC) is a leading innovator of intelligent cloud communications solutions. AudioCodes empowers enterprises and service providers to build and operate state-of-the-art voice networks, unified communications platforms, and AI-driven productivity tools. The cutting-edge portfolio includes cloud-native applications, advanced voice AI technologies, and comprehensive communication solutions tailored for the modern digital workplace. Trusted by global Fortune 500 companies and tier-1 operators worldwide, AudioCodes drives digital transformation through seamless integration, enhanced collaboration, and unparalleled communication experiences.

For more information, visit http://www.audiocodes.com.

Follow AudioCodes’ social media channels:

AudioCodes invites you to join our online community and follow us on: AudioCodes Voice Blog, LinkedIn, Twitter, Facebook, and YouTube.

Statements concerning AudioCodes’ business outlook or future economic performance; product introductions and plans and objectives related thereto; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements” as that term is defined under U.S. Federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to: the effect of global economic conditions in general and conditions in AudioCodes’ industry and target markets in particular; shifts in supply and demand; market acceptance of new products and the demand for existing products; the impact of competitive products and pricing on AudioCodes’ and its customers’ products and markets; timely product and technology development, upgrades and the ability to manage changes in market conditions as needed; possible need for additional financing; the ability to satisfy covenants in the Company’s loan agreements; possible disruptions from acquisitions; the ability of AudioCodes to successfully integrate the products and operations of acquired companies into AudioCodes’ business; possible adverse impact of the COVID-19 pandemic on our business and results of operations; the effects of the current terrorist attacks by Hamas in Israel, and the war and hostilities between Israel and Hamas, and Israel and Hezbollah as well as the possibility that this could develop into a broader regional conflict involving Israel with other parties, may affect our operations and may limit our ability to produce and sell our solutions; any disruption in our operations by the obligations of our personnel to perform military service as a result of current or future military actions involving Israel; and other factors detailed in AudioCodes’ filings with the U.S. Securities and Exchange Commission. AudioCodes assumes no obligation to update the information in this release.

©2024 AudioCodes Ltd. All rights reserved. AudioCodes, AC, HD VoIP, HD VoIP Sounds Better, IPmedia, Mediant, MediaPack, What’s Inside Matters, OSN, SmartTAP, User Management Pack, VMAS, VoIPerfect, VoIPerfectHD, Your Gateway To VoIP, 3GX, VocaNom, AudioCodes One Voice, AudioCodes Meeting Insights, AudioCodes Room Experience are trademarks or registered trademarks of AudioCodes Limited. All other products or trademarks are property of their respective owners. Product specifications are subject to change without notice.

Summary financial data follows

 

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands  

September 30,

December 31,

2024

2023

(Unaudited)

(Audited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$ 23,522

$ 30,546

Short-term and restricted bank deposits

202

212

Short-term marketable securities

24,245

7,438

Trade receivables, net

58,081

51,125

Other receivables and prepaid expenses

12,085

9,381

Inventories

33,677

43,959

Total current assets

151,812

142,661

LONG-TERM ASSETS:

Long-term Trade receivables

$ 15,856

$ 16,798

Long-term marketable securities

37,308

65,732

Long-term financial investments

3,123

2,730

Deferred tax assets

4,577

6,208

Operating lease right-of-use assets

33,207

36,712

Severance pay funds

17,132

17,202

Total long-term assets

111,203

145,382

PROPERTY AND EQUIPMENT, NET

25,236

10,893

GOODWILL, INTANGIBLE ASSETS AND OTHER, NET

38,182

38,581

Total assets

$ 326,433

$ 337,517

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Trade payables

5,479

7,556

Other payables and accrued expenses

24,066

29,943

Deferred revenues

39,390

38,820

Short-term operating lease liabilities

5,859

7,878

Total current liabilities

74,794

84,197

LONG-TERM LIABILITIES:

Accrued severance pay

$ 15,893

$ 16,662

Deferred revenues and other liabilities

18,110

17,142

Long-term operating lease liabilities

30,742

31,404

Total long-term liabilities

64,745

65,208

Total shareholders’ equity

186,894

188,112

Total liabilities and shareholders’ equity

$ 326,433

 

$ 337,517

 

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

U.S. dollars in thousands, except per share data

Nine months ended

Three months ended

September 30,

September 30,

2024

2023

2024

2023

(Unaudited)

(Unaudited)

Revenues:

Products

$ 84,647

$ 91,299

$ 27,750

$ 31,039

Services

95,975

89,525

32,493

30,552

Total Revenues

180,622

180,824

60,243

61,591

Cost of revenues:

Products

34,123

36,568

11,380

11,347

Services

29,057

28,299

9,563

9,307

Total Cost of revenues

63,180

64,867

20,943

20,654

Gross profit

117,442

115,957

39,300

40,937

Operating expenses:

Research and development, net

39,780

43,363

12,666

13,960

Selling and marketing

52,427

52,747

17,607

17,221

General and administrative

12,146

12,657

4,155

3,977

Total operating expenses

104,353

108,767

34,428

35,158

Operating income

13,089

7,190

4,872

5,779

Financial income (expenses), net

(195)

1,688

(614)

492

Income before taxes on income

12,894

8,878

4,258

6,271

Taxes on income, net

(4,358)

(3,753)

(1,579)

(2,019)

Net income

$ 8,536

$ 5,125

$ 2,679

$ 4,252

Basic net earnings per share

$ 0.28

$ 0.16

$ 0.09

$ 0.14

Diluted net earnings per share

$ 0.28

$ 0.16

$ 0.09

$ 0.14

Weighted average number of shares used in computing basic
 net earnings per share (in thousands)

30,239

31,642

30,218

31,390

Weighted average number of shares used in computing diluted
 net earnings per share (in thousands)

30,769

31,807

30,778

31,374

 

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME 

U.S. dollars in thousands, except per share data

Nine months ended

Three months ended

September 30,

September 30,

2024

2023

2024

2023

(Unaudited)

(Unaudited)

GAAP net income

$ 8,536

$ 5,125

$ 2,679

$ 4,252

GAAP net earnings per share

$ 0.28

$ 0.16

$ 0.09

$ 0.14

Cost of revenues:

Share-based compensation (1)

274

304

99

94

Amortization expenses (2)

366

379

122

122

Lease expenses (6)

304

322

322

944

1,005

221

538

Research and development, net:

Share-based compensation (1)

1,642

2,090

471

649

Deferred payments expenses (3)

375

125

Lease expenses (6)

342

362

362

1,984

2,827

471

1,136

Selling and marketing:

Share-based compensation (1)

2,255

3,380

783

1,050

Amortization expenses (2)

33

33

11

11

Deferred payments expenses (3)

375

125

Lease expenses (6)

38

40

40

2,326

3,828

794

1,226

General and administrative:

Share-based compensation (1)

2,113

3,242

679

814

Lease expenses (6)

76

80

80

2,189

3,322

679

894

Financial expenses (income):

Exchange rate differences (4)

(754)

(1,237)

55

(767)

Income taxes:

Taxes on income, net (5)

422

1,247

1,023

Non-GAAP net income

$ 15,647

$ 16,117

$ 4,899

$ 8,302

Non-GAAP diluted net earnings per share

$ 0.50

$ 0.49

$ 0.16

$ 0.25

Weighted average number of shares used in computing Non-GAAP
 diluted net earnings per share (in thousands)

31,534

32,870

31,480

32,576

(1)  Share-based compensation expenses related to options and restricted share units granted to employees and others.

(2)  Amortization expenses related to intangible assets.

(3)  Expenses related to deferred payments in connection with the acquisition of Callverso Ltd.

(4)  Financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies.

(5)  Tax impact which relates to our non-GAAP adjustments.

(6)  In Q1 2024, non-cash lease expense which is required to be recorded during the quarter even though this is a free rent period under the lease for the Company’s new headquarters.

 

Note:  Non-GAAP measures should be considered in addition to, and not as a substitute for, the results prepared in accordance with GAAP.  The Company believes that non-GAAP information is useful because it can enhance the understanding of its ongoing economic performance and therefore uses internally this non-GAAP information to evaluate and manage its operations.  The Company has chosen to provide this information to investors to enable them to perform comparisons of operating results in a manner similar to how the Company analyzes its operating results and because many comparable companies report this type of information. 

 

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

U.S. dollars in thousands

Nine months ended

Three months ended

September 30,

September 30,

2024

2023

2024

2023

(Unaudited)

(Unaudited)

Cash flows from operating activities:

Net income

$ 8,536

$ 5,125

$ 2,679

$ 4,252

Adjustments required to reconcile net income to net
cash provided by operating activities:

Depreciation and amortization

2,788

1,972

1,004

652

Amortization of marketable securities premiums and
accretion of discounts, net

885

1,027

270

315

Decrease in accrued severance pay, net

(699)

(493)

(220)

(221)

Share-based compensation expenses

6,284

9,016

2,032

2,607

Decrease in deferred tax assets, net

826

1,164

762

996

Cash financial loss (income), net

137

(397)

(17)

(65)

Decrease in operating lease right-of-use assets

4,755

6,688

1,198

2,406

Decrease in operating lease liabilities

(3,931)

(8,411)

(496)

(4,056)

Decrease (increase) in trade receivables, net

(6,014)

4,645

(2,247)

(2,294)

Decrease (increase) in other receivables and prepaid
expenses

(2,704)

1,572

(2,939)

(339)

Decrease (increase) in inventories

10,119

(8,605)

4,172

907

Increase (decrease in trade payables

(2,077)

(4,700)

377

(482)

Increase (decrease) in other payables and accrued
expenses

(594)

(6,414)

1,011

(1,480)

Increase (decrease) in deferred revenues

1,631

3,423

266

(3,020)

Net cash provided by operating activities

19,942

5,612

7,852

178

Cash flows from investing activities:

Proceeds from short-term deposits

10

5,008

4

2

Proceeds of marketable securities

9,991

3,846

9,991

3,846

Proceeds from financial investment

76

29

Proceeds from redemption of marketable securities

3,450

3,084

1,084

Proceeds from redemption of financial investments

14,094

3,051

Purchase of financial investments

(675)

(81)

(675)

(81)

Purchase of property and equipment

(20,768)

(5,301)

(5,505)

(2,038)

 

Net cash provided by (used in) investing activities

(7,916)

20,650

3,844

5,864

 

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

U.S. dollars in thousands

Nine months ended

Three months ended

September 30,

September 30,

2024

2023

2024

2023

(Unaudited)

(Unaudited)

Cash flows from financing activities:

Purchase of treasury shares

(8,340)

(11,973)

(3,586)

(9,047)

Cash dividends paid to shareholders

(10,896)

(11,399)

(5,443)

(5,681)

Proceeds from issuance of shares upon exercise of options

186

254

6

140

Net cash used in financing activities

(19,050)

(23,118)

(9,023)

(14,588)

Net increase (decrease) in cash, cash equivalents, and restricted cash

(7,025)

3,144

2,672

(8,546)

Cash, cash equivalents and restricted cash at beginning of period

30,546

24,535

20,849

36,225

Cash, cash equivalents and restricted cash at end of period

$ 23,522

$ 27,679

$ 23,522

$ 27,679

 

 

Company Contacts

Niran Baruch,

Chief Financial Officer 

AudioCodes

Tel: +972-3-976-4000

niran.baruch@audiocodes.com

Roger L. Chuchen,

VP, Investor Relations

AudioCodes

Tel:  732-764-2552

roger.chuchen@audiocodes.com

 

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Cambium Networks Introduces High Density Wi-Fi 7 Solution for the Enterprise

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New tri-band, software-definable Wi-Fi 7 solution delivers precision directive coverage with AI optimization for exhibition halls, auditoriums, warehouses, and other high-density environments.

HOFFMAN ESTATES, Ill., July 22, 2026 /PRNewswire/ — Cambium Networks, a leading global provider of networking solutions, today announced a new Wi-Fi 7 high-density access point – the X7-56X – engineered to deliver high-performance wireless connectivity in the most demanding environments. Designed to meet the needs of large public venues, exhibition halls, busy public spaces, and educational campuses, the solution combines focused RF coverage, AI-driven optimization, and cloud-managed simplicity in a high-capacity platform.

The X7-56X extends Cambium Networks’ Wi-Fi 7 portfolio with a software-definable tri-band architecture featuring 60° x 60° directive antennas designed for precision coverage and reduced co-channel interference in congested RF environments. The platform supports up to 1,280 clients per access point and up to 17.9 Gbps aggregate wireless capacity across the three Wi-Fi spectrum bands.

“The X7-56X performed very well in our ticket scanning points that have high ceilings and see significant foot traffic volume,” said Jonathan West from the National Ice Centre in Nottingham, UK. “What makes this AP practical for a venue like ours is the integrated 60×60 degree antennas that eliminate separate antennas and cabling and can add significant cost, complexity, and footprint to every mount. Engineering all of that into one unit expedites installation and improves aesthetics as well. This form factor will extend to applications in our seating bowl as well.” 

“What excites me about the X7-56X is how well its directional approach works for some of our toughest spaces, such as auditoriums at capacity or the basketball arena on game night,” said Jeremy Petticrew, Network Engineer at University of Mary Hardin-Baylor. “Precisely controlling Wi-Fi coverage has always been the hard part, and having an AP designed specifically for that, inside a platform we already trust, is a real advantage as device counts keep climbing.”

The X7-56X integrates with Cambium’s ONE Network architecture comprised of Wi-Fi, switching, security, SD-WAN, wireless backhaul, and fiber – all managed through the cloud via cnMaestro™ X. This unified approach provides centralized visibility and control across the entire network infrastructure from a single source of truth.

The new solution provides a compelling Total Cost of Ownership (TCO) proposition by reducing the amount of equipment required in typical installations. These advantages are enabled by:

Directive antennas that focus Wi-Fi coverage only where needed – a spotlight approach vs. the floodlight type of inefficiencies of omni-directional antennas

Integrated Wi-Fi controller in every AP, eliminating the need for separate appliance or VM-based controller solutions

Software-defined radios that enable flexible deployment of the 5GHz and 6GHz Wi-Fi bands matched to environment needs, reducing the number of APs required

Key capabilities of the X7-56X include:

Tri-radio, tri-band Wi-Fi 7 architecture

4×4 MU-MIMO support with ten total spatial streams

60° x 60° directive antenna for precision coverage

Air Cleaner technology for high-density RF optimization

AI-based Assurance for improved operational efficiency and problem resolution

Software-definable radios supporting flexible 5 GHz and 6 GHz migration

Built-in IoT radio supporting BLE 5.1, Zigbee, Matter, and Thread

Simplified installation with the MarketApps Installer mobile-based app and flexible mounting options

Cloud-based management through cnMaestro™

“High-performance Wi-Fi requires more than just raw throughput,” said Bruce Miller, VP Enterprise Product Management at Cambium Networks. “Intelligent RF management, flexible deployment options, and simplified operations are key to support growing device counts, IoT proliferation, and AI-powered applications. The X7-56X was purpose-built for these challenges while at the same time delivering compelling economics for enterprise IT and managed service providers.”

“The X7-56X brings together several technologies that are particularly valuable in high-density environments,” said Kevin Tolly, Founder of The Tolly Group. “The directive antenna design, Wi-Fi 7 architecture, integrated IoT capabilities, and cloud-managed operation provide organizations with a practical approach to supporting growing connectivity requirements while maintaining operational simplicity.”

View the Tolly Group preview video of the X7-56X, showcasing the access point’s ultra-high-density design, Wi-Fi 7 capabilities, deployment flexibility, and performance advantages for demanding enterprise environments.

Cambium Networks’ directional Wi-Fi 7 innovation was recently highlighted by Wi-Fi NOW in an Expert Insights article by CEO and Chairman Claus Hetting.

Watch our webinar replay, “High-Performance Wi-Fi with New Wi-Fi 7 and 6 GHz Solutions.”

About Cambium Networks

Cambium Networks enables service providers, enterprises, industrial organizations, and governments to deliver exceptional digital experiences, and device connectivity, with compelling economics. Our ONE Network platform simplifies management of Cambium Networks’ wired and wireless broadband and network edge technologies. Our customers can focus more resources on managing their business rather than the network. We make connectivity that just works.

Media Contact

pr@cambiumnetworks.com

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OCEAN Launches Portal, the First End-to-End Encrypted Pool Dashboard for Bitcoin Miners

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New customizable dashboard gives miners operation-wide tools without surrendering privacy or identity

MIAMI, July 22, 2026 /PRNewswire/ — Today OCEAN announced the launch of OCEAN Portal, a customizable, end-to-end encrypted dashboard that gives Bitcoin miners a complete view of their operation. PORTAL was unveiled on stage at Mining Disrupt 2026, the world’s largest Bitcoin mining expo and conference, held July 21-23 at the Miami Airport Convention Center, by OCEAN President Mark Artymko. PORTAL is available now, for free, to all miners on OCEAN at portal.ocean.xyz.

OCEAN was built permissionless from the ground up, a deliberate design choice that, like Bitcoin itself, gives miners unhindered access to their own information. Traditional pools organize miner data by storing it on their own servers. OCEAN Portal delivers that same organized, polished experience while keeping miners fully in control: a permissionless, encrypted view of your mining addresses with the look and feel of an enterprise-style dashboard. Miners can combine multiple Bitcoin addresses into a single view, organize addresses by site, and assign human-readable names to sites, workers, and teams. Portal includes site-specific statistics, worker insights, payout information in Bitcoin and fiat, robust reporting tools, and access controls that let operators share full dashboards with their teams or generate expiring read-only links for clients. No account or email is required. Miners sign in with a Bitcoin address and a password they create. The convenience of enterprise dashboards, with the security of OCEAN.

“PORTAL was built in direct response to miner feedback,” said Mark Artymko, President of OCEAN. “Some of our miners told us that a customizable dashboard was the only thing standing between their full stack of hashrate and the pool. OCEAN heard them, and built it.”

PORTAL is powered by Sub-space Locker, an application-independent encrypted storage and access-control system developed by OCEAN. Built on public-key cryptography, Sub-space Locker authenticates users, stores encrypted application data, and controls what each user can access. Encryption and decryption happen locally in the user’s browser, leaving OCEAN and other intermediaries unable to read the underlying data.

“Every mining pool dashboard on earth makes the same trade: your tooling for your identity,” said Jason Hughes, VP of Engineering at OCEAN. “PORTAL refuses that trade. Miners get pool-grade information in the most sovereign way possible. We couldn’t read their data even if we tried.”

Since launching in 2023, OCEAN has focused on returning sovereignty to Bitcoin miners through permissionless, non-custodial pooled mining, fully transparent and auditable TIDES payouts, and DATUM, which puts block template construction back in miners’ hands. PORTAL extends that mission from the pool to the mining operation itself.

OCEAN Portal is available now at portal.ocean.xyz.

About OCEAN

OCEAN is a Bitcoin mining pool built on miner sovereignty. Operated by Mummolin, Inc., OCEAN offers non-custodial payouts, transparent reward accounting, and DATUM, the only pool technology that lets individual miners construct their own block templates.

Media Contact Ian Northon media@ocean.xyz

 

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SOURCE Mummolin Inc

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Technology

PlayVS and Scouting America Announce Gaming Activation at the 2026 National Jamboree

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New immersive gaming hub will bring structured esports competition, casual play, and digital citizenship programming to Scouts at Summit Bechtel Reserve

LOS ANGELES, July 22, 2026 /PRNewswire/ — PlayVS, North America’s leading scholastic gaming platform, today announced a partnership with Scouting America to bring a state-of-the-art gaming activation to the 2026 National Jamboree, taking place July 22–31, 2026. One of Scouting America’s premier youth gatherings, the National Jamboree at Summit Bechtel Reserve in West Virginia, brings Scouts together from across the country for adventure, fellowship, skill-building, and shared experiences.

Running throughout the National Jamboree, the PlayVS Arena will offer a rotating schedule of competitive tournaments, leaderboard challenges, casual gaming, and hands-on technology experiences. Designed for Scouts of all experience levels, the activation promotes teamwork, digital citizenship, sportsmanship, and healthy competition while creating a welcoming space for Scouts to connect over a shared passion for gaming. The arena gives Scouts the opportunity to connect with friends, test their skills, and experience organized esports in an environment designed for participation, sportsmanship, and fun.

“At PlayVS, we believe gaming can be a powerful way for young people to build confidence, practice teamwork, and develop meaningful connections,” said Andrew Barnett, Partnership Lead. “Partnering with Scouting America allows us to bring that experience to one of the country’s most iconic youth gatherings and show how structured gaming can complement the values of leadership, fellowship, and skill-building that Scouting has championed for generations.”

The gaming activation will feature a high-tech mobile gaming trailer outfitted with gaming stations, virtual reality experiences, and a professional racing simulator. A dedicated event tent located alongside the trailer will expand the experience with additional console stations for free play, spectating, and community engagement throughout the Jamboree.

PlayVS aims to deliver a memorable gaming experience that brings together the excitement of play with the values of leadership, teamwork, and community.

About PlayVS

PlayVS is North America’s leading scholastic and collegiate gaming platform, helping students unlock the educational, social, and personal benefits of competitive gaming. The company brings together students, coaches, educators, and schools through structured, education-aligned competition across K–12 and college. PlayVS is the official esports partner of the NFHS Network, the Special Olympics, and state and regional organizations across the U.S. and Canada. To learn more, visit playvs.com.

Media Contact:
press@playvs.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/playvs-and-scouting-america-announce-gaming-activation-at-the-2026-national-jamboree-302831072.html

SOURCE PlayVS

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