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HUYA Inc. Reports Third Quarter 2024 Unaudited Financial Results

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GUANGZHOU, China, Nov. 12, 2024 /PRNewswire/ — HUYA Inc. (“Huya” or the “Company”) (NYSE: HUYA), a leading game live streaming platform in China, today announced its unaudited financial results for the third quarter ended September 30, 2024.

Third Quarter 2024 Highlights[1]

Total net revenues were RMB1,537.7 million (US$219.1 million) for the third quarter of 2024, compared with RMB1,664.3 million for the same period of 2023.Game-related services, advertising and other revenues (formerly known as advertising and other revenues) were RMB410.2 million (US$58.4 million) for the third quarter of 2024, compared with RMB132.6 million for the same period of 2023.Net income attributable to HUYA Inc. was RMB23.6 million (US$3.4 million) for the third quarter of 2024, compared with RMB10.5 million for the same period of 2023.Non-GAAP net income attributable to HUYA Inc.[2] was RMB78.0 million (US$11.1 million) for the third quarter of 2024, compared with RMB106.7 million for the same period of 2023.Average mobile MAUs[3] for the third quarter of 2024 was 84.0 million, compared with 86.0 million for the same period of 2023.

“In the third quarter of 2024, our game-related services business achieved robust growth thanks to our continuous efforts to enhance cooperation with game studios and deepen broadcasters’ engagement on our platform. Revenues from game-related services, advertising, and others grew by 209.3% year-over-year in the third quarter, reaching RMB410.2 million and contributing a record high of 26.7% of our total net revenues,” said Mr. Junhong Huang, Acting Co-Chief Executive Officer and Senior Vice President of Huya. “We also maintained stable engagement across our high-quality user base. Our paying users[4] rose by 9.5% year-over-year to 4.6 million in the third quarter, driven by the increase in users paying for game-related services. Furthermore, our growing collaborations with various content platforms brought our compelling game live streaming and video content to a wider audience, unlocking new commercialization opportunities. Going forward, we will continue to foster in-house content initiatives and develop productive partnerships, unleashing our potential across game-related services and live streaming and propelling our long-term business development.”

Mr. Raymond Peng Lei, Acting Co-Chief Executive Officer and Chief Financial Officer of Huya, continued, “We recorded total net revenues of RMB1.54 billion in the third quarter. While the macroeconomic and industry environment continued to weigh on our live streaming revenues, we proactively adjusted our business structure to support our strategic transformation. Game-related services, advertising and other businesses maintained strong growth momentum and made a more meaningful contribution to our topline. Overall, we delivered a stable year-over-year operating performance by improving efficiency and reducing total operating expenses by 20.9% year-over-year. Regarding shareholder returns, as of the end of September 2024, we had repurchased US$61.1 million of Huya shares through our share repurchase program. We have also returned an aggregate value of approximately US$400 million through two rounds of special cash dividends this year. As always, we remain committed to enhancing our financial and operating performance and creating greater value for shareholders.”

Third Quarter 2024 Financial Results

Total net revenues for the third quarter of 2024 were RMB1,537.7 million (US$219.1 million), compared with RMB1,664.3 million for the same period of 2023.

Live streaming revenues were RMB1,127.5 million (US$160.7 million) for the third quarter of 2024, compared with RMB1,531.7 million for the same period of 2023, primarily due to the continued impact of the macroeconomic and industry environment and the Company’s proactive business adjustments in support of its strategic transformation and prudent operations.

Game-related services, advertising and other revenues were RMB410.2 million (US$58.4 million) for the third quarter of 2024, compared with RMB132.6 million for the same period of 2023, primarily due to increased revenues from game distribution and advertising services and in-game item sales, which was mainly attributable to the Company’s deepened cooperation with Tencent and other game companies.

Cost of revenues decreased by 6.1% to RMB1,334.1 million (US$190.1 million) for the third quarter of 2024 from RMB1,421.5 million for the same period of 2023, primarily due to decreased revenue sharing fees and content costs, as well as bandwidth and server custody fees.

Revenue sharing fees and content costs decreased by 4.9% to RMB1,172.7 million (US$167.1 million) for the third quarter of 2024 from RMB1,233.2 million for the same period of 2023, primarily due to decreased live streaming revenue sharing fees associated with the decline in live streaming revenues as well as lower costs related to licensed e-sports content, partially offset by increased game-related services, advertising and other revenue sharing fees.

Bandwidth and server custody fees decreased by 26.4% to RMB61.4 million (US$8.8 million) for the third quarter of 2024 from RMB83.4 million for the same period of 2023, primarily due to continued technology and management enhancement efforts, as well as favorable pricing terms.

Gross profit was RMB203.6 million (US$29.0 million) for the third quarter of 2024, compared with RMB242.8 million for the same period of 2023. Gross margin was 13.2% for the third quarter of 2024, compared with 14.6% for the same period of 2023. This change was primarily attributable to increased revenue sharing fees and content costs as a percentage of total net revenues, which rose mainly because the decrease in live streaming revenues outpaced the decrease in content costs.

Research and development expenses decreased by 12.1% to RMB125.5 million (US$17.9 million) for the third quarter of 2024 from RMB142.8 million for the same period of 2023, primarily due to decreased personnel-related expenses and share-based compensation expenses.

Sales and marketing expenses decreased by 30.4% to RMB73.3 million (US$10.4 million) for the third quarter of 2024 from RMB105.4 million for the same period of 2023, primarily due to decreased marketing and promotion fees, as well as personnel-related expenses.

General and administrative expenses decreased by 24.7% to RMB50.0 million (US$7.1 million) for the third quarter of 2024 from RMB66.4 million for the same period of 2023, primarily due to decreased professional service fees and personnel-related expenses.

Other income was RMB13.0 million (US$1.8 million) for the third quarter of 2024, compared with RMB40.2 million for the same period of 2023, primarily attributable to realized damages received in the third quarter of 2023 from a favorable outcome in a broadcaster-related lawsuit and lower government subsidies.

Operating loss was RMB32.3 million (US$4.6 million) for the third quarter of 2024, compared with RMB31.6 million for the same period of 2023.

Interest income was RMB96.6 million (US$13.8 million) for the third quarter of 2024, compared with RMB128.5 million for the same period of 2023, primarily due to lower time deposit balance, which was mainly attributable to the special cash dividends paid in May 2024 and October 2024.

Net income attributable to HUYA Inc. was RMB23.6 million (US$3.4 million) for the third quarter of 2024, compared with RMB10.5 million for the same period of 2023.

Non-GAAP net income attributable to HUYA Inc. was RMB78.0 million (US$11.1 million) for the third quarter of 2024, compared with RMB106.7 million for the same period of 2023.

Basic and diluted net income per American depositary share (“ADS”) were each RMB0.10 (US$0.01) for the third quarter of 2024. Basic and diluted net income per ADS were each RMB0.04 for the third quarter of 2023. Each ADS represents one Class A ordinary share of the Company.

Non-GAAP basic and diluted net income per ADS were each RMB0.34 (US$0.05) for the third quarter of 2024. Non-GAAP basic and diluted net income per ADS were RMB0.44 and RMB0.43, respectively, for the third quarter of 2023.

As of September 30, 2024, the Company had cash and cash equivalents, short-term deposits, short-term investment and long-term deposits of RMB8,078.4 million (US$1,151.2 million), compared with RMB8,193.3 million as of June 30, 2024.

Share Repurchase Program

The board of directors of the Company authorized a share repurchase program in August 2023, under which the Company may repurchase up to US$100 million of its ADSs or ordinary shares over a 12-month period. In August 2024, the board of directors of the Company authorized an extension of the expiry date of the share repurchase program to March 31, 2025. As of September 30, 2024, the Company had repurchased 18.2 million ADSs with a total aggregate consideration of US$61.1 million under this program.

Earnings Webinar

The Company’s management will host a Tencent Meeting Webinar at 7:00 a.m. U.S. Eastern Time on November 12, 2024 (8:00 p.m. Beijing/Hong Kong time on November 12, 2024), to review and discuss the Company’s business and financial performance.

For participants who wish to join the webinar, please complete the online registration in advance using the links provided below. Upon registration, participants will receive an email with webinar access information, including meeting ID, meeting link, dial-in numbers, and a unique attendee ID to join the webinar.

Participant Online Registration:

Chinese Mainland[5]:  https://meeting.tencent.com/dw/6WRc9Ojhmp5c
International:               https://voovmeeting.com/dw/6WRc9Ojhmp5c 

A live webcast of the webinar will be accessible at https://ir.huya.com, and a replay of the webcast will be available following the session.

 

[1] In December 2023, the Company acquired a global mobile application service provider from Tencent Holdings Limited for an aggregate cash consideration of US$81 million, the principal terms of which were previously disclosed. As a result of this business combination under common control, in accordance with ASC 805, Business Combinations, the Company has consolidated the financial results of this mobile application service provider on a retrospective basis since the first quarter of 2022. Accordingly, retrospective adjustments have been made to the Company’s consolidated historical financial information presented herein, reflecting the consolidation of this mobile application service provider. The Company does not believe the retrospective adjustments to the Company’s results to be material, as compared to the historical financial information previously presented. Given that this was a transaction that involved entities under common control of Tencent Holdings Limited, all assets and assumed liabilities transferred have been recognized at the historical cost of the parent.

[2] “Non-GAAP net income attributable to HUYA Inc.” is defined as net income attributable to HUYA Inc. excluding share-based compensation expenses, impairment loss of investments, and amortization of intangible assets from business acquisitions, net of income taxes, to the extent applicable. For more information, please refer to the section titled “Use of Non-GAAP Financial Measures” and the table captioned “HUYA Inc. Unaudited Reconciliations of GAAP and Non-GAAP Results” at the end of this press release.

[3] Refers to the average mobile monthly active users who accessed the Company’s domestic Huya Live platform and related services. Average mobile MAUs for any period is calculated by dividing (i) the sum of mobile active users for each month during such relevant period, by (ii) the number of months during such relevant period.

[4] Refers to the sum of user accounts that purchased various products and services on the Company’s domestic Huya Live platform and related services at least once during such relevant period.

[5] For the purpose of this announcement only, Chinese Mainland excludes the Hong Kong Special Administrative Region, the Macao Special Administrative Region of the People’s Republic of China, and Taiwan.

 

About HUYA Inc.

HUYA Inc. is a leading game live streaming platform in China. As a technology-driven company, Huya offers rich and dynamic content across games, e-sports, and other entertainment genres where it has cultivated a large, highly engaged, interactive, immersive community of game enthusiasts. Building on its success in game live streaming and through close collaboration with game companies, e-sports tournament organizers, broadcasters and talent agencies, Huya is expanding its presence in the game industry, both domestically and internationally. By providing more innovative game-related services, the Company is committed to meeting the evolving needs of game enthusiasts, content creators, and industry partners.

Use of Non-GAAP Financial Measures

The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), except that the consolidated statement of changes in shareholders’ equity, consolidated statements of cash flows, and the detailed notes have not been presented. Huya uses non-GAAP gross profit, non-GAAP operating loss, non-GAAP net income attributable to HUYA Inc., non-GAAP net income attributable to ordinary shareholders, non-GAAP basic and diluted net income per ordinary shares, and non-GAAP basic and diluted net income per ADS, which are non-GAAP financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses allocated in cost of revenues. Non-GAAP operating loss is operating loss excluding share-based compensation expenses and amortization of intangible assets from business acquisitions. Non-GAAP net income attributable to HUYA Inc. is net income attributable to HUYA Inc. excluding share-based compensation expenses, impairment loss of investments, and amortization of intangible assets from business acquisitions, net of income taxes, to the extent applicable. Non-GAAP net income attributable to ordinary shareholders is net income attributable to ordinary shareholders excluding share-based compensation expenses, impairment loss of investments, and amortization of intangible assets from business acquisitions, net of income taxes, to the extent applicable. Non-GAAP basic and diluted net income per ADS is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net income per ADS. The Company believes that separate analysis and exclusion of the impact of (i) share-based compensation expenses, (ii) impairment loss of investments, and (iii) amortization of intangible assets from business acquisitions (net of income taxes), add clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measures for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures represent useful supplemental information for investors and analysts to assess its operating performance without the effect of (i) share-based compensation expenses, and (ii) amortization of intangible assets from business acquisitions (net of income taxes), which have been and will continue to be significant recurring expenses in its business, and (iii) impairment loss of investments, which may recur when there is observable price change in the future. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider a non-GAAP financial measure in isolation from or as an alternative to the financial measures prepared in accordance with U.S. GAAP.

The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned “HUYA Inc. Unaudited Reconciliations of GAAP and Non-GAAP Results” at the end of this announcement.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0176 to US$1.00, the noon buying rate in effect on September 30, 2024, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollar amounts referred to in this announcement could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.

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 quotations from management in this announcement, as well as Huya’s strategic and operational plans, contain forward-looking statements. Huya may also make written or oral forward-looking statements in its periodic reports to the U.S. 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 Huya’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: Huya’s goals and strategies; Huya’s future business development, results of operations and financial condition; the expected growth of the live streaming market and game market; the expectation regarding the rate at which to gain active users, especially paying users; Huya’s ability to monetize the user base; Huya’s efforts in complying with applicable data privacy and security regulations; fluctuations in general economic and business conditions in China; the economy in China and elsewhere generally; any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Huya; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Huya’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Huya does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact: 

In China:

HUYA Inc.
Investor Relations
Tel: +86-20-2290-7829
E-mail: ir@huya.com

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com

In the United States:

Piacente Financial Communications  
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huya@tpg-ir.com

 

 

 

HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share, ADS, per share data and per ADS data)

As of December 31,

As of September 30,

2023

2024

2024

RMB

RMB

US$

Assets

Current assets

Cash and cash equivalents

511,973

1,095,785

156,148

Restricted cash

18,137

17,840

2,542

Short-term deposits

6,851,160

5,472,648

779,846

Accounts receivable, net

64,258

89,927

12,814

Prepaid assets and amounts due from related
   parties, net

148,648

337,175

48,047

Prepayments and other current assets, net

556,435

689,311

98,226

Total current assets

8,150,611

7,702,686

1,097,623

Non-current assets

Long-term deposits

2,553,293

1,510,000

215,173

Investments

751,844

606,455

86,419

Goodwill

456,976

452,118

64,426

Property and equipment, net

326,765

447,592

63,781

Intangible assets, net

161,739

134,063

19,104

Right-of-use assets, net

379,006

348,001

49,590

Prepayments and other non-current assets

144,120

123,461

17,593

Total non-current assets

4,773,743

3,621,690

516,086

Total assets

12,924,354

11,324,376

1,613,709

Liabilities and shareholders’ equity

Current liabilities

Accounts payable

14,961

68,337

9,738

Advances from customers and deferred revenue

412,257

265,491

37,832

Income taxes payable

49,914

54,923

7,826

Accrued liabilities and other current liabilities

1,474,827

1,294,164

184,414

Amounts due to related parties

177,714

150,096

21,389

Lease liabilities due within one year

31,832

29,558

4,212

Dividends payable

–

1,744,867

248,642

Total current liabilities

2,161,505

3,607,436

514,053

Non-current liabilities

Lease liabilities

48,069

24,658

3,514

Deferred tax liabilities

42,317

29,267

4,171

Deferred revenue

47,864

37,843

5,393

Total non-current liabilities

138,250

91,768

13,078

Total liabilities

2,299,755

3,699,204

527,131

 

 

 

HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(All amounts in thousands, except share, ADS, per share data and per ADS data)

As of December 31,

As of September 30,

2023

2024

2024

RMB

RMB

US$

Shareholders’ equity

Class A ordinary shares (US$0.0001 par value;
    750,000,000 shares authorized as of December
    31, 2023 and September 30, 2024, respectively;
    82,696,852 and 75,455,486 shares issued and
    outstanding as of December 31, 2023 and
    September 30, 2024, respectively)

61

52

7

Class B ordinary shares (US$0.0001 par value;
    200,000,000 shares authorized as of December
    31, 2022 and September 30, 2023, respectively;
    150,386,517 and 150,386,517 shares issued and
    outstanding as of December 31, 2023 and
    September 30, 2024, respectively)

98

98

14

Treasury shares

(206,345)

(90,042)

(12,831)

Additional paid-in capital

12,000,100

8,849,094

1,260,986

Statutory reserves

122,429

122,429

17,446

Accumulated deficit

(2,052,336)

(1,928,088)

(274,750)

Accumulated other comprehensive income

760,592

671,629

95,706

Total shareholders’ equity

10,624,599

7,625,172

1,086,578

Total liabilities and shareholders’ equity

12,924,354

11,324,376

1,613,709

 

 

 

HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All amounts in thousands, except share, ADS, per share data and per ADS data)

Three Months Ended

Nine Months Ended

September 30,

2023*

June 30,

2024

September 30,

2024

September 30,

2024

September 30,

2023*

September 30,

2024

September 30,

2024

RMB

RMB

RMB

US$

RMB

RMB

US$

Net revenues

Live streaming

1,531,711

1,233,064

1,127,499

160,667

5,107,319

3,621,007

515,989

Game-related services, advertising and other
     revenues

132,591

308,518

410,160

58,447

357,196

962,281

137,124

Total net revenues

1,664,302

1,541,582

1,537,659

219,114

5,464,515

4,583,288

653,113

Cost of revenues(1)

(1,421,460)

(1,326,710)

(1,334,085)

(190,106)

(4,664,521)

(3,944,297)

(562,058)

Gross profit

242,842

214,872

203,574

29,008

799,994

638,991

91,055

Operating expenses(1)

Research and development expenses

(142,832)

(128,710)

(125,508)

(17,885)

(441,610)

(389,324)

(55,478)

Sales and marketing expenses

(105,354)

(61,689)

(73,330)

(10,449)

(327,262)

(211,251)

(30,103)

General and administrative expenses

(66,417)

(63,729)

(50,025)

(7,129)

(220,600)

(173,786)

(24,764)

Total operating expenses

(314,603)

(254,128)

(248,863)

(35,463)

(989,472)

(774,361)

(110,345)

Other income, net

40,185

13,219

12,958

1,847

68,153

38,486

5,484

Operating loss

(31,576)

(26,037)

(32,331)

(4,608)

(121,325)

(96,884)

(13,806)

Interest income

128,480

102,523

96,580

13,763

350,201

316,155

45,052

Impairment loss of investments

(80,774)

(45,079)

(36,298)

(5,172)

(145,889)

(81,377)

(11,596)

Foreign currency exchange (losses)/gains, net

(1,765)

364

(1,225)

(175)

(3,817)

(3,280)

(467)

Income before income tax expenses

14,365

31,771

26,726

3,808

79,170

134,614

19,183

Income tax expenses

(3,822)

(2,169)

(3,113)

(444)

(8,718)

(10,366)

(1,477)

Net income attributable to HUYA Inc.

10,543

29,602

23,613

3,364

70,452

124,248

17,706

Net income attributable to ordinary
     shareholders

10,543

29,602

23,613

3,364

70,452

124,248

17,706

 

 

HUYA INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)

(All amounts in thousands, except share, ADS, per share data and per ADS data)

Three Months Ended

Nine Months Ended

September 30,

2023*

June 30,

2024

September 30,

2024

September 30,

2024

September 30,

2023*

September 30,

2024

September 30,

2024

RMB

RMB

RMB

US$

RMB

RMB

US$

Net income per ADS**

—Basic

0.04

0.13

0.10

0.01

0.29

0.54

0.08

—Diluted

0.04

0.13

0.10

0.01

0.29

0.53

0.08

Net income per ordinary share

—Basic

0.04

0.13

0.10

0.01

0.29

0.54

0.08

—Diluted

0.04

0.13

0.10

0.01

0.29

0.53

0.08

Weighted average number of ADS used in
     calculating net income per ADS

—Basic

244,651,286

231,022,644

231,366,502

231,366,502

243,736,441

231,852,981

231,852,981

—Diluted

246,437,179

234,167,978

232,948,154

232,948,154

246,529,235

234,514,598

234,514,598

*   HUYA Inc. Unaudited Condensed Consolidated Statements of Operations for three months ended September 30, 2023 and nine months ended September
    30, 2023 have been retrospectively adjusted due to the business combination under common control as stated in footnote 1 of this press release.

**  Each ADS represents one Class A ordinary share.

(1)  Share-based compensation was allocated in cost of revenues and operating expenses as follows:

 

 

Three Months Ended

Nine Months Ended

September 30,

2023

June 30,

2024

September 30,

2024

September 30,

2024

September 30,

2023

September 30,

2024

September 30,

2024

RMB

RMB

RMB

US$

RMB

RMB

US$

Cost of revenues

2,543

4,492

3,521

502

16,154

12,298

1,752

Research and development expenses

7,296

7,873

5,497

783

40,133

20,986

2,990

Sales and marketing expenses

651

446

171

24

2,594

983

140

General and administrative expenses

(68)

4,573

4,014

572

19,000

12,855

1,832

 

 

 

HUYA INC.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except share, ADS, per share data and per ADS data)

Three Months Ended

Nine Months Ended

September 30,

2023*

June 30,

2024

September 30,

2024

September 30,

2024

September 30,

2023*

September 30,

2024

September 30,

2024

RMB

RMB

RMB

US$

RMB

RMB

US$

Gross profit

242,842

214,872

203,574

29,008

799,994

638,991

91,055

Share-based compensation expenses allocated
      in cost of revenues

2,543

4,492

3,521

502

16,154

12,298

1,752

Non-GAAP gross profit

245,385

219,364

207,095

29,510

816,148

651,289

92,807

Operating loss

(31,576)

(26,037)

(32,331)

(4,608)

(121,325)

(96,884)

(13,806)

Share-based compensation expenses

10,422

17,384

13,203

1,881

77,881

47,122

6,714

Amortization of intangible assets from
      business acquisitions

5,993

5,941

5,937

846

17,605

17,808

2,538

Non-GAAP operating loss

(15,161)

(2,712)

(13,191)

(1,881)

(25,839)

(31,954)

(4,554)

Net income attributable to HUYA Inc.

10,543

29,602

23,613

3,364

70,452

124,248

17,706

Impairment loss of investments

80,774

45,079

36,298

5,172

145,889

81,377

11,596

Share-based compensation expenses

10,422

17,384

13,203

1,881

77,881

47,122

6,714

Amortization of intangible assets from
    business acquisitions, net of income taxes

4,974

4,931

4,928

702

14,612

14,781

2,106

Non-GAAP net income attributable to
      HUYA Inc.

106,713

96,996

78,042

11,119

308,834

267,528

38,122

Net income attributable to ordinary
     shareholders

10,543

29,602

23,613

3,364

70,452

124,248

17,706

Impairment loss of investments

80,774

45,079

36,298

5,172

145,889

81,377

11,596

Share-based compensation expenses

10,422

17,384

13,203

1,881

77,881

47,122

6,714

Amortization of intangible assets from
      business acquisitions, net of income taxes

4,974

4,931

4,928

702

14,612

14,781

2,106

Non-GAAP net income attributable to
       ordinary shareholders

106,713

96,996

78,042

11,119

308,834

267,528

38,122

Non-GAAP net income per ordinary share

—Basic

0.44

0.42

0.34

0.05

1.27

1.15

0.16

—Diluted

0.43

0.41

0.34

0.05

1.25

1.14

0.16

Non-GAAP net income per ADS

—Basic

0.44

0.42

0.34

0.05

1.27

1.15

0.16

—Diluted

0.43

0.41

0.34

0.05

1.25

1.14

0.16

Weighted average number of ADS used in
      calculating Non-GAAP net income per
      ADS

—Basic

244,651,286

231,022,644

231,366,502

231,366,502

243,736,441

231,852,981

231,852,981

—Diluted

246,437,179

234,167,978

232,948,154

232,948,154

246,529,235

234,514,598

234,514,598

* HUYA Inc. Unaudited Reconciliations of GAAP and Non-GAAP Results for three months ended September 30, 2023 and nine months ended September
  30, 2023 have been retrospectively adjusted due to the business combination under common control as stated in footnote 1 of this press release.

 

 

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SOURCE HUYA Inc.

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AudioCodes Reports Third Quarter 2026 Results

Published

14 minutes ago

on

November 4, 2026

By

OR YEHUDA, Israel, Nov. 4, 2026 /PRNewswire/ — 

Third Quarter Highlights

Quarterly revenues increased by 4.2% year-over-year to $64.1 million;Quarterly services revenues increased by 19.9% year-over-year to $37.1 million;GAAP results:
– Quarterly GAAP gross margin was 65.7%;
– Quarterly GAAP operating margin was 5.3%;
– Quarterly GAAP net income was $3.6 million, or $0.15 per diluted share;Non-GAAP results:
– Quarterly Non-GAAP gross margin was 65.8%;
– Quarterly Non-GAAP operating margin was 7.4%;
– Quarterly Non-GAAP net income was $4.0 million, or $0.16 per diluted share;Net cash provided by operating activities was $4.1 million for the quarter;AudioCodes repurchased 1,517,568 of its ordinary shares during the quarter at an aggregate cost of $15.1 million.

Details

AudioCodes (NASDAQ: AUDC) (the “Company”), a global leader in enterprise voice and VoiceAI business solutions, today announced its financial results for the third quarter ended September 30, 2026.

Revenues for the third quarter of 2026 were $64.1 million compared to $61.5 million for the third quarter of 2025.

Net income was $3.6 million, or $0.15 per diluted share, for the third quarter of 2026 compared to net income of $2.7 million, or $0.10 per diluted share, for the third quarter of 2025.

On a non-GAAP basis, net income was $4.0 million, or $0.16 per diluted share, for the third quarter of 2026 compared to $4.9 million, or $0.17 per diluted share, for the third quarter of 2025.

Non-GAAP net income excludes: (i) share-based compensation expenses; (ii) amortization expenses related to intangible assets; and (iii) financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies. Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income and non-GAAP operating margin exclude: (i) share-based compensation expenses and (ii) amortization expenses related to intangible assets. Reconciliations of the non-GAAP measures to their most directly comparable GAAP measures are provided in the tables that accompany the condensed consolidated financial statements contained in this press release.

Net cash provided by operating activities was $4.1 million for the third quarter of 2026. Cash and cash equivalents, short-term bank deposits, short-term marketable securities, and long-term financial investments were $47.1 million as of September 30, 2026, compared to $75.7 million as of December 31, 2025. The decrease in cash and cash equivalents, short-term bank deposits, short-term marketable securities, and long-term financial investments was primarily the result of the use of cash for the continued repurchase 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 2026. This was partially offset by cash generated from operating activities.

“I am pleased to report strong financial results and continued business momentum for the third-quarter 2026. Our solid financial results demonstrate progress in our strategic transformation of AudioCodes into a voice AI-driven cloud software and services company,” said Shabtai Adlersberg, President and Chief Executive Officer of AudioCodes.

“Third-quarter results were driven by continued momentum in our two key growth pillars: the Live suite of managed services for UCaaS and CX, and our VoiceAI business. Combined annual recurring revenue (ARR) for these segments reached $87 million, up 16% year over year. Our Microsoft Teams business continued to grow with sustained momentum, growing 4% year over year.

“Our UCaaS and CX connectivity business, which now accounts for more than 85% of our overall business, has remained resilient, with a promising outlook for 2027.

“Building on revenue growth earlier this year, our VoiceAI business grew 50% in the first three quarters of 2026 year-over-year, reflecting strong, broad-based demand across the portfolio. During the quarter, VoiceAI Connect and Live Hub continued to achieve record bookings, supported by a growing pipeline, new customer wins, and significant expansion among existing customers. Revenue from Voca CIC, our Microsoft Teams-certified contact center solution, grew more than 40% year over year during the quarter. Meeting Insights and Mia Edge, our enterprise-grade meeting intelligence solutions for cloud and on-premises environments, also gained traction, with revenue growing more than 100% during this quarter compared with the same period a year earlier. 

“Overall, we achieved our operational and financial targets for the third quarter period. The ongoing investments in Live services and VoiceAI have significantly contributed to our success and position us favorably for continued healthy top-line growth throughout the rest of 2026 and 2027,” concluded Mr. Adlersberg. 

Share Buy Back Program and Cash Dividend

On August 4, 2026, the Company declared a cash dividend of 20 cents per share. The dividend, in the aggregate amount of approximately $4.8 million, was paid on September 3, 2026, to all of the Company’s shareholders of record on August 19, 2026.

In September 2026, the Company received court approval in Israel to purchase up to an aggregate amount of $30 million of ordinary shares. The court approval also permits AudioCodes to declare a dividend out of any part of this amount. The approval is valid through March 9, 2027.

During the quarter ended September 30, 2026, the Company acquired 1,517,568 of its ordinary shares under its share repurchase program for a total consideration of $15.1 million.

As of September 30, 2026, the Company had $26.7 million available under this approval for the repurchase of shares and/or declaration of cash dividends.

As of September 30, 2026, the total outstanding shares of the Company were 23,296,828.

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 2026 operating performance, financial results and outlook. Interested parties may participate in the conference call by dialing one of 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.

Follow AudioCodes’ social media channels:

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

About AudioCodes

AudioCodes Ltd. (NASDAQ: AUDC) (TASE: AUDC) is a global leader in enterprise voice and VoiceAI business solutions. We help organizations unlock the full value of voice, transforming every conversation, whether human or AI, into a strategic asset that drives better business outcomes. Our portfolio spans voice connectivity, unified communications and contact center integration, and next-generation voice AI applications that enhance collaboration, automate workflows and deliver real-time insights. With over 30 years of global experience and trusted by 65 of the Fortune 100, AudioCodes powers the intelligent enterprise, connecting people, platforms and data to move business forward.

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

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 the 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 following: the effect of global economic conditions in general and conditions in AudioCodes’ industry and target markets in particular, including governmental undertakings to address such conditions; 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, the advent of artificial intelligence, and the ability to manage changes in market conditions and evolving regulatory regimes, as applicable; possible need for additional financing; the ability to satisfy covenants in AudioCodes’ financing agreements; possible impacts and disruptions from AudioCodes’ acquisitions, including the ability of AudioCodes to successfully integrate the products and operations of acquired companies into AudioCodes’ business; possible adverse impacts attributable to any pandemic or other public health crisis on our business and results of operations; the effects of the current and any future hostilities involving Israel, including in the regions in which we or our counterparties operate, which 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 any other factors described in AudioCodes’ filings made with the U.S. Securities and Exchange Commission from time to time. AudioCodes assumes no obligation to update the information in this release.

©2026 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, AudioCodes One Voice, AudioCodes Meeting Insights, and 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.

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands 

September 30,

December 31,

2026

2025

(Unaudited)

(Unaudited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$ 41,991

$ 45,282

Short-term bank deposits

252

239

Short-term marketable securities

2,520

27,350

Trade receivables, net

64,553

67,358

Other receivables and prepaid expenses

13,357

19,064

Inventories

24,926

22,032

Total current assets

147,599

181,325

LONG-TERM ASSETS:

Long-term Trade receivables

$ 12,150

$ 13,065

Long-term financial investments

2,372

2,790

Deferred tax assets

6,501

7,773

Operating lease right-of-use assets

30,491

30,077

Severance pay funds

22,227

21,163

Total long-term assets

73,741

74,868

PROPERTY AND EQUIPMENT, NET

29,679

29,248

GOODWILL, INTANGIBLE ASSETS AND OTHER, NET

40,054

37,579

Total assets

$ 291,073

$ 323,020

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Trade payables

$ 10,849

$ 6,416

Other payables and accrued expenses

29,584

30,284

Deferred revenues

40,017

38,243

Short-term operating lease liabilities

7,122

6,635

Total current liabilities

87,572

81,578

LONG-TERM LIABILITIES:

Accrued severance pay

$ 18,609

$ 18,278

Deferred revenues and other liabilities

25,414

20,517

Long-term operating lease liabilities

32,084

31,348

Total long-term liabilities

76,107

70,143

Total shareholders’ equity

127,394

171,299

Total liabilities and shareholders’ equity

$ 291,073

$ 323,020

 

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,

2026

2025

2026

2025

(Unaudited)

(Unaudited)

Revenues:

Products

$ 83,545

$ 86,896

$ 27,037

$ 30,606

Services

105,700

96,103

37,107

30,941

Total Revenues

189,245

182,999

64,144

61,547

Cost of revenues:

Products

30,667

33,086

10,507

11,150

Services

33,958

31,370

11,503

10,112

Total Cost of revenues

64,625

64,456

22,010

21,262

Gross profit

124,620

118,543

42,134

40,285

Operating expenses:

Research and development, net

40,801

39,087

13,447

13,188

Selling and marketing

61,867

57,318

21,203

18,942

General and administrative

12,018

11,832

4,112

4,094

Total operating expenses

114,686

108,237

38,762

36,224

Operating income

9,934

10,306

3,372

4,061

Financial income (expenses), net

(898)

586

1,243

64

Income before taxes on income

9,036

10,892

4,615

4,125

Taxes on income, net

(2,968)

(3,838)

(977)

(1,393)

Net income

$ 6,068

$ 7,054

$ 3,638

$ 2,732

Basic net earnings per share

$ 0.24

$ 0.24

$ 0.15

$ 0.10

Diluted net earnings per share

$ 0.24

$ 0.24

$ 0.15

$ 0.10

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

25,197

28,858

23,939

28,169

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

25,716

29,356

24,504

28,672

 

AUDIOCODES LTD. AND ITS SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP RESULTS

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

Nine months ended

Three months ended

September 30,

September 30,

2026

2025

2026

2025

(Unaudited)

(Unaudited)

Gross profit

$ 124,620

$ 118,543

$ 42,134

$ 40,285

Gross margin

65.9 %

64.8 %

65.7 %

65.5 %

Share-based compensation (1)

215

319

62

94

Amortization expenses (2)

–

366

–

122

Non-GAAP gross profit

124,835

119,228

42,196

40,501

Non-GAAP gross margin

66.0 %

65.2 %

65.8 %

65.8 %

Operating income

$ 9,934

$ 10,306

$ 3,372

$ 4,061

Operating margin

5.2 %

5.6 %

5.3 %

6.6 %

Share-based compensation (1)

4,193

4,901

1,382

1,625

Amortization expenses (2)

19

399

–

133

Non-GAAP operating income

14,146

15,606

4,754

5,819

Non-GAAP operating margin

7.5 %

8.5 %

7.4 %

9.5 %

Net income

$ 6,068

$ 7,054

$ 3,638

$ 2,732

Net earnings per share

$ 0.24

$ 0.24

$ 0.15

$ 0.10

Share-based compensation (1)

4,193

4,901

1,382

1,625

Amortization expenses (2)

19

399

–

133

Exchange rate differences (3)

1,329

1,310

(1,059)

392

Non-GAAP net income

$ 11,609

$ 13,664

$ 3,961

$ 4,882

Non-GAAP diluted net earnings per share

$ 0.44

$ 0.45

$ 0.16

$ 0.17

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

26,447

30,094

25,191

29,437


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

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.
The non-GAAP measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies.

 

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,

2026

2025

2026

2025

(Unaudited)

(Unaudited)

Cash flows from operating activities:

Net income

$ 6,068

$ 7,054

$ 3,638

$ 2,732

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

Depreciation and amortization

3,386

3,096

1,174

1,183

Amortization of marketable securities premiums and
accretion of discounts, net

136

312

14

115

Decrease (increase) in accrued severance pay, net

(733)

(714)

342

(790)

Share-based compensation expenses

4,193

4,901

1,382

1,625

Decrease in deferred tax assets, net

1,206

708

516

401

Cash financial loss (income), net

571

37

164

15

Decrease in operating lease right-of-use assets

3,649

3,292

1,386

1,093

Decrease (increase) in operating lease liabilities

(2,840)

(133)

(2,466)

(555)

Decrease (increase) in trade receivables, net

3,720

(10,373)

(3,041)

(7,237)

Decrease (increase) in other receivables and prepaid
expenses

3,213

(6,464)

2,730

(2,020)

Decrease (increase) in inventories

(3,054)

7,261

(1,188)

2,285

Increase in trade payables

4,161

2,761

1,278

2,674

Decrease (increase) in other payables and accrued
expenses

(8,170)

7,027

(4,020)

277

Increase in deferred revenues

7,491

6,471

2,171

2,256

Net cash provided by operating activities

22,997

25,236

4,080

4,054

Cash flows from investing activities:

Proceeds from short-term deposits

(13)

(23)

3

(5)

Proceeds from financial investments

134

243

12

65

Proceeds from maturity of marketable securities

24,827

5,200

7,450

2,000

Purchase of financial investments

(135)

(442)

–

–

Purchase of property and equipment

(3,355)

(4,830)

(1,059)

(1,571)

Net cash provided by investing activities

21,458

148

6,406

489

 

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,

2026

2025

2026

2025

(Unaudited)

(Unaudited)

Cash flows from financing activities:

Purchase of treasury shares

(37,669)

(24,514)

(15,121)

(12,696)

Cash dividends paid to shareholders

(10,077)

(10,934)

(4,788)

(5,608)

Proceeds from issuance of shares upon exercise of options

–

240

–

67

Net cash used in financing activities

(47,746)

(35,208)

(19,909)

(18,237)

Net increase (decrease) in cash and cash equivalents

(3,291)

(9,824)

(9,423)

(13,694)

Cash and cash equivalents at beginning of period

45,282

58,749

51,414

62,619

Cash and cash equivalents at end of period

$ 41,991

$ 48,925

$ 41,991

$ 48,925

Company Contact

Niran Baruch, 
Chief Financial Officer 
AudioCodes
Tel: +972-3-976-4000
niran.baruch@audiocodes.com 

 

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SOURCE AudioCodes

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Technology

AWS launches “Semarak AI Malaysia”, a national program to bring AI tools to government officers, students, and local software companies

Published

14 minutes ago

on

November 4, 2026

By

AWS is investing to put Amazon Quick, the AI built for work, in the hands of up to 445,000 government officers — supporting Malaysia’s nation-building agenda by giving public-sector teams practical, hands-on experience applying agentic AI to everyday workGovTech Malaysia launches GovHub, powered by Kiro, for developers to bring engineering rigor to agentic development, starting with a 500-developer pilot in 2026, with a goal to reach 4,000 by 2028Over 3,000 polytechnic students and lecturers set a national record by building agentic AI solutions in Malaysia’s largest AI competition using Kiro, AWS’s engineering agent

KUALA LUMPUR, Malaysia, Nov. 4, 2026 /PRNewswire/ — Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today launched “Semarak AI Malaysia” at AWS Cloud and AI Day Kuala Lumpur, a flagship national program that equips Malaysia’s government officers, students, software companies, and communities with the AI tools and skills to build their own solutions.

Semarak AI Malaysia is organized around three pillars: AI Negara for the public sector, AI Ekonomi for businesses, and AI Rakyat for communities. Semarak AI Malaysia focuses on the step after initial AI adoption: equipping more Malaysians with the access and skills to build with AI themselves.

“For Malaysia to lead in the regional AI economy, we need a workforce and a software industry that can build, not just consume, AI technology. Through Semarak AI Malaysia, AWS is building on its MYR29.2 billion commitment to Malaysia to turn that ambition into reality. This program starts with our civil servants and students, and extends to our software companies so they can develop AI solutions that serve Malaysian businesses and compete across the region,” said YB Datuk Seri Johari Abdul Ghani, Minister of Investment, Trade and Industry.

AI Negara: Equipping government officers to build AI services that drive better citizen outcomes
GovTech Malaysia, Ministry of Digital (Kementerian Digital), is launching GovHub, powered by Kiro, through JDN’s AI-as-a-Service (AIaaS) platform. The phase one pilot starts with 500 developers in 2026, with a goal to onboard 4,000 developers by 2028. Kiro uses spec-driven development to turn developers’ prompts into structured specifications for requirements, design, and implementation — giving AI all the context it needs before writing a line of code, so developers build what they want in fewer tries. To complement the tools knowledge workers use to build, AWS is investing to put Amazon Quick, the AI built for work, in the hands of up to 445,000 government officers; also through JDN’s AIaaS platform. Officers can use Quick to tackle higher-order tasks such as analyzing procurement data, synthesizing policy research across agencies, and surfacing patterns in large datasets.

AI Ekonomi: Giving Malaysian businesses the AI tools to compete and grow
Since the AWS Asia Pacific (Kuala Lumpur) Region launched in 2024, software companies in Malaysia building on AWS have grown their cloud and AI workloads by an average of approximately 30% between 2024-2025. These companies build the industry-specific applications that banks, retailers, manufacturers, hotels, logistics firms, and public agencies run every day. Malaysia-based software company MOCHI Technologies, for example, is building on AWS to help more than 1,000 small and medium-sized enterprises manage marketing, customer relationships, HR, and operations through a single AI-native platform. Supporting the growth of companies like MOCHI is central to the Semarak AI Malaysia program.

The Sarawak SaaS Accelerator (SaSAR), a collaboration between AWS and the Sarawak Digital Economy Corporation (SDEC), is designed to grow this pipeline of software companies in Malaysia. The program works with software companies to build AI products on AWS while SDEC matches them with Sarawak businesses looking to adopt AI solutions. The pilot cohort graduated over 20 software companies representing high-growth sectors in the Sarawakian economy spanning agriculture, automotive, and medical. Graduates received AWS cloud credits and technical mentorship from AWS, business-building guidance from SDEC, and have since established collaborations with government agencies, energy providers, and enterprise partners across Sarawak to drive adoption of their AI products. One early proof of concept involves an AI-enabled software testing solution designed to help organizations test and validate applications, including mobile applications, across various industries. The solution is undergoing validation with pilot users to refine its capabilities ahead of wider deployment.

Recognizing that local partners are crucial to deepen AI adoption at scale, AWS is also working with GD XCHANGE, the solutions arm of last-mile logistics provider GDEX, and AWS distributor VSTECS, to put AI tools directly into the hands of the thousands of SMEs GDEX already serves across e-commerce, retail, and manufacturing. Through the program, eligible SMEs receive six months of complimentary access to Quick and Kiro following an AI readiness assessment, equipping them with AI assistants for everyday business tasks. The collaboration aims to onboard 10,000 SMEs by 2028. One retail SME is already using Quick and Kiro to automate competitor-price tracking and demand forecasting, responding to market shifts in hours instead of weeks.

AI Rakyat: Building AI skills in Malaysian communities
AWS is strengthening Malaysia’s AI talent pipeline at the polytechnic and community college level, building on a collaboration with the Ministry of Higher Education (MOHE)’s Jabatan Pendidikan Politeknik dan Kolej Komuniti (JPPKK). Over 3,000 students and lecturers from polytechnics and community colleges nationwide set a new national milestone in the Malaysia Book of Records for the largest participation in an agentic AI competition through the POLYCC Agentic AI League 2026. Kiro was selected as the competition’s primary coding tool, enabling students with no programming background to engage with agentic AI concepts in natural language. AWS has also adopted its first school in Malaysia under the government’s Sekolah Angkat MADANI program: Sekolah Kebangsaan Datuk Keramat (1) in Kuala Lumpur. AWS will upgrade the school’s digital and STEM facilities, train teachers to deliver coding and robotics lessons, and run hands-on activities in drone technology and digital safety for students.

“When the public sector leads in building with AI, it becomes the lighthouse for the rest of the country. That’s what Semarak AI Malaysia is designed to do; equip civil servants, software companies, and students with the tools to build their own AI solutions. Every ministry, every developer, and every student who builds with AI raises the bar for what’s next.” said Hussein Mohd Ali, Country Manager, Malaysia, AWS.

About Amazon Web Services
Amazon Web Services (AWS) is guided by customer obsession, pace of innovation, commitment to operational excellence, and long-term thinking. By democratizing technology for nearly two decades and making cloud computing and generative AI accessible to organizations of every size and industry, AWS has built one of the fastest-growing enterprise technology businesses in history. Millions of customers trust AWS to accelerate innovation, transform their businesses, and shape the future. With the most comprehensive AI capabilities and global infrastructure footprint, AWS empowers builders to turn big ideas into reality. Learn more at aws.amazon.com and follow @AWSNewsroom.

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SOURCE Amazon Web Services

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Corero Network Security Accelerates International Growth with Strategic Investment in Regional Leadership and Partnerships

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November 4, 2026

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New leadership appointments strengthen EMEA and APAC operations as Corero builds on commercial momentum and industry recognition.

LONDON, Nov. 4, 2026 /PRNewswire/ — Corero Network Security (AIM: CNS) (OTCQX: DDOSF), the distributed denial of service (“DDoS”) protection specialists and champion of adaptive, real-time service availability, today announced continued investment in its European and international operations, expanding regional leadership, technical expertise, and channel resources to accelerate partner-led growth across Europe, the Middle East, Africa, and Asia-Pacific.

As part of this expansion, Corero appointed Michael Woduschegg as General Manager and Field CTO, EMEA/APAC, bringing extensive industry experience and technical leadership. Corero will also add a Director of EMEA Channels in December to strengthen partner relationships and accelerate regional go-to-market initiatives.

“International growth requires more than entering new markets. It requires investing in the people, expertise, and partnerships that make sustainable success possible,” said Carl Herberger, Chief Executive Officer at Corero Network Security. “By strengthening local leadership and technical resources, we’re positioning Corero and our partners to capitalize on growing demand for cyber resiliency and real-time DDoS protection.”

Corero’s expansion is backed by strong performance and partner success. Q3 2026 order intake grew 50% year-over-year, fueled by channel-led wins across Europe, Latin America, and Asia-Pacific. That partner success also earned Corero and UK Servers, a provider of high-speed dedicated servers, colocation, cloud solutions and high availability cloud internet services, a finalist spot in the Best Technology Partnership category at the 2026 ISPA UK Awards.

“Our partners are central to Corero’s growth, and we’re committed to reinvesting in their success,” said Michelle Ragusa-McBain, Global Channel Chief at Corero Network Security. “Michael’s appointment and new EMEA channel leadership strengthen the support we provide, from technical enablement to joint go-to-market initiatives. When our partners grow, Corero grows.”

Corero will continue expanding strategic alliances, strengthening regional partnerships, and investing in sales and technical resources to support sustainable international growth.

About Corero Network Security

Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero’s technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centers in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange’s AIM market (ticker: CNS) and the US OTCQX Market (OTCQX: DDOSF).

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