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IAS Reports Third Quarter 2024 Financial Results

Published

2 years ago

on

Total revenue increased 11% to $133.5 million

Net income of $16.1 million at a 12% margin; adjusted EBITDA increased to $50.6 million at a 38% margin 

NEW YORK, Nov. 12, 2024 /PRNewswire/ — Integral Ad Science Holding Corp. (Nasdaq: IAS), a leading global media measurement and optimization platform, today announced financial results for the third quarter ended September 30, 2024.

“We increased revenue at a double-digit rate in the third quarter, driven by our industry-leading products and the contribution from new customers, with strong adjusted EBITDA performance,” said Lisa Utzschneider, CEO of IAS. “We are excited about several new logo wins and the C-level executives we have added to our team. Our focus remains on driving product innovation and leveraging AI to deliver superior value for our customers. We were delighted to announce our first-to-market optimization solution for Meta in October.”

Third Quarter 2024 Financial Highlights

Total revenue was $133.5 million, an 11% increase compared to $120.3 million in the prior-year period.Optimization revenue was $61.1 million, a 7% increase compared to $57.0 million in the prior-year period.Measurement revenue was $52.9 million, an 11% increase compared to $47.8 million in the prior-year period.Publisher revenue was $19.5 million, a 26% increase compared to $15.5 million in the prior-year period.International revenue, excluding the Americas, was $40.8 million, an 11% increase compared to $36.9 million in the prior-year period, or 31% of total revenue for the third quarter of 2024.Gross profit was $106.2 million, a 12% increase compared to $94.7 million in the prior-year period. Gross profit margin was 80% for the third quarter of 2024.Net income was $16.1 million, or $0.10 per share, compared to a net loss of $13.7 million, or $0.09 per share, in the prior-year period. Net income margin was 12% for the third quarter of 2024.Adjusted EBITDA* was $50.6 million, a 25% increase compared to $40.6 million in the prior-year period. Adjusted EBITDA* margin was 38% for the third quarter of 2024.Cash and cash equivalents were $57.1 million at September 30, 2024.

Recent Business Highlights

C-Level Appointments – In September, IAS announced that Marc Grabowski was appointed as Chief Operating Officer from his previous role as Global VP of Oracle Advertising. Srishti Gupta joined as Chief Product Officer from Rokt where she served as Chief Product Officer. She was previously Director of Ads Measurement at Amazon.First-to-Market Meta Optimization Solution – In October, IAS announced the testing of first-to-market availability pre-bid optimization solutions for IAS’s current advertisers on Meta. Social Optimization for Content Block Lists enable advertisers to ensure that better impressions are delivered to brand suitable ad adjacencies. This solution empowers advertisers with proactive pre-screen capabilities at the content level on Facebook and Instagram.TikTok Partnership Expansion – In October, IAS expanded its Total Media Quality (TMQ) offering for TikTok to include viewability, invalid traffic, and brand safety and suitability measurement for advertisers across TikTok’s newly available ad placements within the Profile, Search, Following Feeds and TikTok Lite.Misinformation Detection Launch on YouTube – In September, IAS announced the expansion of its TMQ offering on YouTube to include its industry-aligned misinformation brand safety and suitability reporting for advertisers running campaigns across YouTube ad inventory. IAS can now detect content across YouTube that it identifies as misinformation, enabling advertisers to further verify the safety and suitability of their digital media investments on YouTube.Google Ad Manager Partnership – In November, IAS announced the launch of IAS Curation with Google Ad Manager. IAS now offers programmatic buyers a deal-based enrichment pathway designed to curate inventory at the source. IAS Curation empowers advertisers with actionable data to activate avoidance and contextual targeting strategies across media buys at scale for Google Ad Manager.Quality Attention Expansion to Publishers and SSPs – In October, IAS announced the availability of Quality Attention for publishers and sell-side platforms (SSPs). IAS’s Quality Attention metrics and scores, previously available only to advertisers, help publishers improve yield optimization and drive revenue opportunities.

Financial Outlook

“We reported revenue growth of 11% and an adjusted EBITDA margin of 38% for the period,” said Tania Secor, CFO of IAS. “With healthy cash flows and low debt, we will continue to invest in the business to support our growth. Our updated financial outlook for the full year reflects our third quarter performance and anticipated advertising demand in the fourth quarter.”

IAS is providing the following financial outlook for the fourth quarter of 2024 and updating its full year 2024 revenue and adjusted EBITDA outlook:

Fourth Quarter Ending December 31, 2024:

Total revenue of $148 million to $150 millionAdjusted EBITDA* of $55 million to $57 million

Year Ending December 31, 2024:

Total revenue of $525 million to $527 millionAdjusted EBITDA* of $185 million to $187 million

* See “Supplemental Disclosure Regarding Non-GAAP Financial Information” section herein for an explanation of these measures. IAS is unable to provide a reconciliation for forward-looking guidance of adjusted EBITDA and corresponding margin to net income (loss), the most closely comparable GAAP measures without unreasonable effort, because certain material reconciling items, such as depreciation and amortization, interest expense, income tax expense (benefit) and acquisition, restructuring and integration expenses, cannot be estimated due to factors outside of IAS’s control and could have a material impact on the reported results. However, IAS estimates stock-based compensation expense for the fourth quarter of 2024 in the range of $15 million to $16 million and for the full year 2024 in the range of $62 million to $63 million.

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(IN THOUSANDS, EXCEPT SHARE DATA)

September 30,
2024

December 31,
2023

ASSETS

Current assets:

Cash and cash equivalents

$         57,085

$      124,759

Restricted cash

170

54

Accounts receivable, net

81,168

74,609

Unbilled receivables

48,421

46,548

Prepaid expenses and other current assets

38,030

18,959

Total current assets

224,874

264,929

Property and equipment, net

4,077

3,769

Internal use software, net

51,546

40,301

Intangible assets, net

150,618

178,908

Goodwill

675,538

675,282

Operating lease right-of-use assets

20,472

21,668

Deferred tax asset, net

2,544

2,465

Other long-term assets

5,029

4,402

Total assets

$    1,134,698

$   1,191,724

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable and accrued expenses

$         48,874

$        72,232

Operating lease liability

10,242

9,435

Due to related party

2

121

Deferred revenue

1,454

682

Total current liabilities

60,572

82,470

Deferred tax liability, net

4,989

20,367

Long-term debt, net

64,073

153,725

Operating lease liabilities, non-current

16,391

19,523

Other long-term liabilities

6,186

6,183

Total liabilities

152,211

282,268

Commitments and Contingencies (Note 13)

Stockholders’ Equity

Preferred Stock, $0.001 par value, 50,000,000 shares authorized at September 30, 2024;

0 shares issued and outstanding at September 30, 2024 and December 31, 2023.

–

–

Common Stock, $0.001 par value, 500,000,000 shares authorized, 161,955,151 and

158,757,620 shares issued and outstanding at September 30, 2024 and December 31,

2023, respectively.

162

159

Additional paid-in-capital

952,123

901,259

Accumulated other comprehensive loss

(1,276)

(916)

Retained earnings

31,478

8,954

Total stockholders’ equity

982,487

909,456

Total liabilities and stockholders’ equity

$    1,134,698

$   1,191,724

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(UNAUDITED)

Three Months Ended September 30,

Nine Months Ended September 30,

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

2024

2023

2024

2023

Revenue

$      133,528

$      120,331

$      377,063

$      340,074

Operating expenses:

Cost of revenue (excluding depreciation and amortization

shown below)

27,373

25,599

80,628

71,100

Sales and marketing

30,144

29,604

91,541

87,566

Technology and development

16,840

17,211

52,305

53,850

General and administrative

25,348

22,611

71,407

85,673

Depreciation and amortization

16,243

14,027

47,032

40,373

Foreign exchange (gain) loss, net

(2,607)

2,078

(723)

931

Total operating expenses

113,341

111,130

342,190

339,493

Operating income

20,187

9,201

34,873

581

Interest expense, net

(1,325)

(3,109)

(4,787)

(9,747)

Net income (loss) before income taxes

18,862

6,092

30,086

(9,166)

(Provision) benefit for income taxes

(2,773)

(19,841)

(7,562)

6,240

Net income (loss)

$      16,089

$     (13,749)

$      22,524

$       (2,926)

Net income (loss) per share – basic and diluted

$          0.10

$         (0.09)

$          0.14

$         (0.02)

Weighted average shares outstanding:

Basic

161,663,506

157,055,904

160,528,610

157,691,005

Diluted

165,084,108

157,055,904

164,635,076

157,691,005

Other comprehensive income (loss):

    Foreign currency translation adjustments

892

(1,717)

(360)

(789)

Total comprehensive income (loss)

$      16,981

$     (15,466)

$      22,164

$       (3,715)

 

Stock-Based Compensation  

(UNAUDITED)

Three Months Ended
 September 30,

Nine Months Ended
 September 30,

(IN THOUSANDS)

2024

2023

2024

2023

Cost of revenue

$      80

$     118

$     286

$     328

Sales and marketing

4,829

5,714

14,002

17,859

Technology and development

4,941

2,902

14,139

13,434

General and administrative

6,593

5,166

18,758

34,020

Total stock-based compensation

$16,443

$13,900

$47,185

$65,641

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

(UNAUDITED)

Three Months Ended September 30, 2024

Common Stock

(IN THOUSANDS, EXCEPT SHARES)

Shares

Amount

Additional
paid-in
capital

Accumulated
other
comprehensive
loss

Retained
earnings

Total
stockholders’
equity

Balance, June 30, 2024

160,786,740

$   161

$934,194

$             (2,168)

$         15,389

$      947,576

RSUs and MSUs vested

995,796

1

–

–

–

1

ESPP purchase

172,615

–

1,478

–

–

1,478

Stock-based compensation

–

–

16,451

–

–

16,451

Foreign currency translation adjustment

–

–

–

892

–

892

Net income

–

–

–

–

16,089

16,089

Balance, September 30, 2024

161,955,151

$   162

$952,123

$             (1,276)

$         31,478

$      982,487

Nine Months Ended September 30, 2024

Common Stock

(IN THOUSANDS, EXCEPT SHARES)

Shares

Amount

Additional
paid-in
capital

Accumulated
other
comprehensive
loss

Retained
earnings

Total
stockholders’
equity

Balance, December 31, 2023

158,757,620

$   159

$901,259

$                (916)

$           8,954

$      909,456

RSUs and MSUs vested

2,827,628

3

–

–

–

3

Option exercises

44,049

–

313

–

–

313

ESPP purchase

325,854

–

3,373

–

–

3,373

Stock-based compensation

–

–

47,178

–

–

47,178

Foreign currency translation adjustment

–

–

–

(360)

–

(360)

Net income

–

–

–

–

22,524

22,524

Balance, September 30, 2024

161,955,151

$   162

$952,123

$             (1,276)

$         31,478

$      982,487

Three Months Ended September 30, 2023

Common Stock

(IN THOUSANDS, EXCEPT SHARES)

Shares

Amount

Additional
paid-in
capital

Accumulated
other
comprehensive
loss

Retained
earnings
(accumulated
deficit)

Total
stockholders’
equity

Balance, June 30, 2023

156,279,075

$   156

$867,490

$             (1,971)

$         12,539

$      878,214

RSUs and MSUs vested

1,102,702

1

–

–

–

1

Option exercises

53,748

1

590

–

–

591

ESPP purchase

162,406

–

1,424

–

–

1,424

Stock-based compensation

–

–

13,882

–

–

13,882

Foreign currency translation adjustment

–

–

–

(1,717)

–

(1,717)

Net loss

–

–

–

–

(13,749)

(13,749)

Balance, September 30, 2023

157,597,931

$   158

$883,386

$             (3,688)

$         (1,210)

$      878,646

Nine Months Ended September 30, 2023

Common Stock

(IN THOUSANDS, EXCEPT SHARES)

Shares

Amount

Additional
paid-in
capital

Accumulated
other
comprehensive
loss

Retained
earnings
(accumulated
deficit)

Total
stockholders’
equity

Balance, December 31, 2022

153,990,128

$   154

$810,186

$             (2,899)

$              775

$      808,216

RSUs and MSUs vested

2,692,984

3

–

–

–

3

Option exercises

641,250

1

5,583

–

–

5,584

ESPP purchase

273,569

–

2,306

–

–

2,306

Stock-based compensation

–

–

65,311

–

–

65,311

Foreign currency translation adjustment

–

–

–

(789)

–

(789)

Adoption of ASC 326, net of tax

–

–

–

–

941

941

Net loss

–

–

–

–

(2,926)

(2,926)

Balance, September 30, 2023

157,597,931

$   158

$883,386

$             (3,688)

$         (1,210)

$      878,646

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

Nine Months Ended September 30,

(IN THOUSANDS)

2024

2023

Cash flows from operating activities:

Net income (loss)

$22,524

$  (2,926)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization

47,032

40,373

Stock-based compensation

47,185

65,641

Foreign currency (gain) loss, net

(1,775)

571

Deferred tax benefit

(15,457)

(17,974)

Amortization of debt issuance costs

348

348

Allowance for credit losses

949

2,223

Impairment of assets

37

–

Changes in operating assets and liabilities:

Increase in accounts receivable

(7,028)

(19,936)

Increase in unbilled receivables

(1,723)

(370)

(Increase) decrease in prepaid expenses and other current assets

(18,668)

5,851

(Increase) decrease in operating leases, net

(1,169)

139

Increase in other long-term assets

(696)

(27)

(Decrease) increase in accounts payable and accrued expenses and other long-term liabilities

(21,958)

148

Increase in deferred revenue

768

150

Decrease in due to/from related party

(119)

(93)

Net cash provided by operating activities

50,250

74,118

Cash flows from investing activities:

Purchase of property and equipment

(1,594)

(1,954)

Development of internal use software and other

(28,868)

(23,539)

Net cash used in investing activities

(30,462)

(25,493)

Cash flows from financing activities:

Proceeds from the Revolver

–

75,000

Repayment of long-term debt

(90,000)

(125,000)

Proceeds from exercise of stock options

313

5,584

Cash received from Employee Stock Purchase Program

2,329

2,236

Net cash used in financing activities

(87,358)

(42,180)

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

(67,570)

6,445

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(113)

(1,330)

Cash, cash equivalents and restricted cash at beginning of period

127,290

89,671

Cash, cash equivalents, and restricted cash, at end of period

$59,607

$ 94,786

Supplemental Disclosures:

Net cash paid during the period for:

Interest

$  4,613

$   8,880

Taxes

$29,942

$ 10,361

Non-cash investing and financing activities:

Property and equipment acquired included in accounts payable

$      47

$        17

Internal use software acquired included in accounts payable

$     966

$   1,012

Lease liabilities arising from right of use assets

$  6,110

$   4,832

Supplemental Disclosure Regarding Non-GAAP Financial Information

We use supplemental measures of our performance, which are derived from our consolidated financial information, but which are not presented in our consolidated financial statements prepared in accordance with GAAP. Adjusted EBITDA is the primary financial performance measure used by management to evaluate our business and monitor ongoing results of operations. Adjusted EBITDA is defined as income before depreciation and amortization, stock-based compensation, interest expense, income taxes, acquisition, restructuring and integration costs, foreign exchange gain, net, asset impairments, and other one-time, non-recurring costs. Adjusted EBITDA margin represents the adjusted EBITDA for the applicable period divided by the revenue for that period presented in accordance with GAAP.

We use non-GAAP financial measures to supplement financial information presented on a GAAP basis. We believe that excluding certain items from our GAAP results allows management to better understand our consolidated financial performance from period to period and better project our future consolidated financial performance as forecasts are developed at a level of detail different from that used to prepare GAAP-based financial measures. Moreover, we believe these non-GAAP financial measures provide our shareholders with useful information to help them evaluate our operating results by facilitating an enhanced understanding of our operating performance and enabling them to make more meaningful period-to-period comparisons. Although we believe these measures are useful to investors and analysts for the same reasons they are useful to management, as discussed below, these measures are not a substitute for, or superior to, U.S. GAAP financial measures or disclosures. Our non-GAAP financial measures may not be comparable to similarly titled measures of other companies. Other companies, including companies in our industry, may calculate non-GAAP financial measures differently than we do, limiting the usefulness of those measures for comparative purposes.

Reconciliations of historical adjusted EBITDA to its most directly comparable GAAP financial measure, net income/loss, are presented below. We encourage you to review the reconciliations in conjunction with the presentation of the non-GAAP financial measures for each of the periods presented. In future fiscal periods, we may exclude such items and may incur income and expenses similar to these excluded items.

Reconciliation of Adjusted EBITDA

Three Months Ended
September 30,

Nine Months Ended
 September 30,

(IN THOUSANDS, EXCEPT PERCENTAGES)

2024

2023

2024

2023

Net income (loss)

$  16,089

$(13,749)

$  22,524

$  (2,926)

Depreciation and amortization

16,243

14,027

47,032

40,373

Stock-based compensation

16,443

13,900

47,185

65,641

Interest expense, net

1,325

3,109

4,787

9,747

Provision (benefit) for income taxes

2,773

19,841

7,562

(6,240)

Acquisition, restructuring and integration costs

290

1,353

1,465

2,974

Foreign exchange (gain) loss, net

(2,607)

2,078

(723)

931

Asset impairments and other costs

90

11

90

1,517

Adjusted EBITDA

$  50,646

$  40,570

$129,922

$112,017

Revenue

$133,528

$120,331

$377,063

$340,074

Net income (loss) margin

12 %

(11) %

6 %

(1) %

Adjusted EBITDA margin

38 %

34 %

34 %

33 %

Conference Call and Webcast Information
IAS will host a conference call and live webcast to discuss its third quarter 2024 financial results today at 5:00 p.m. ET. To access the live webcast and conference call dial-in, please register under the “News & Events” section of IAS’s investor relations website. A replay will be available on IAS’s investor relations website following the live call: https://investors.integralads.com.

About Integral Ad Science
Integral Ad Science (IAS) is a leading global media measurement and optimization platform that delivers the industry’s most actionable data to drive superior results for the world’s largest advertisers, publishers, and media platforms. IAS’s software provides comprehensive and enriched data that ensures ads are seen by real people in safe and suitable environments, while improving return on ad spend for advertisers and yield for publishers. Our mission is to be the global benchmark for trust and transparency in digital media quality. For more information, visit integralads.com.

Forward-Looking Statements
This earnings press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance, including guidance, and business, including pipeline and industry trends. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. For example, all statements we make relating to our estimated and projected costs, profitability, expenditures, cash flows, growth rates and financial results or our plans and objectives for future operations, growth initiatives or strategies, including pursuing business from Oracle or other competitors are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: (i) the adverse effect on our business, operating results, financial condition, and prospects from various macroeconomic factors, including instability in geopolitical or market conditions; (ii) our failure to innovate or make the right investment decisions; (iii) our ability to provide digital or cross-platform analytics; (iv) our failure to maintain or achieve industry accreditation standards; (v) our dependence on integrations with advertising platforms, demand side providers (“DSPs”) and proprietary platforms that we do not control; (vi) our ability to compete successfully with our current or future competitors in an intensely competitive market, including with respect to the Oracle opportunity; (vii) our inability to use software licensed from third parties; (viii) our international expansion; (ix) our ability to expand into new channels; (x) our ability to sustain our profitability and revenue growth rate; (xi) risks that our customers do not pay or choose to dispute their invoices; (xii) risks of material changes to revenue share agreements with certain DSPs; (xiii) our dependence on the overall demand for advertising; (xiv) our ability to effectively manage our growth; (xv) the impact that any acquisitions we have completed in the past and may consummate in the future, strategic investments, or alliances may have on our business, financial condition, and results of operations; (xvi) our ability to successfully execute our international plans; (xvii) the risks associated with the seasonality of our market; (xviii) our ability to maintain high impression volumes; (xix) the difficulty in evaluating our future prospects given our short operating history; (xx) uncertainty in how the market for buying digital advertising verification solutions will evolve; (xxi) interruption by man-made problems such as terrorism, computer viruses, or social disruptions; (xxii) the risk of failures in the systems and infrastructure supporting our solutions and operations; (xxiii) our ability to avoid operational, technical, and performance issues with our platform; (xxiv) risks associated with any unauthorized access to user, customer, or inventory and third-party provider data; (xxv) our ability to provide the non-proprietary technology, software, products, and services that we use; (xxvi) the risk that we are sued by third parties for alleged infringement, misappropriation, or other violation of their proprietary rights; (xxvii) our ability to obtain, maintain, protect, or enforce intellectual property and proprietary rights that are important to our business; (xxviii) our involvement in lawsuits to protect or enforce our intellectual property; (xxix) risks that our employees, consultants, or advisors have wrongfully used or disclosed alleged trade secrets of their current or former employers; (xxx) risks that our trademarks and trade names are not adequately protected; (xxxi) the impact of unforeseen changes to privacy and data protection laws and regulation on digital advertising; (xxxii) our ability to maintain our corporate culture; (xxxiii) public health outbreaks, epidemics, pandemics, or other public health crises; (xxxiv) risks posed by earthquakes, fires, floods, and other natural catastrophic events; (xxxv) the risk that a perceived failure to comply with laws and industry self-regulation may damage our reputation; and (xxxvi) other factors disclosed in our filings with the SEC. Given these factors, as well as other variables that may affect our operating results, you should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, or use historical trends to anticipate results or trends in future periods.

We derive many of our forward-looking statements from our operating budgets and forecasts, which are based on many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to update or revise any forward- looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Investor Contact:
Jonathan Schaffer
ir@integralads.com

Media Contact:
press@integralads.com

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SOURCE Integral Ad Science, Inc.

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Technology

Portland General Electric declares dividend

Published

1 hour ago

on

July 25, 2026

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PORTLAND, Ore., July 24, 2026 /PRNewswire/ — The board of directors of Portland General Electric Company (NYSE: POR) declared a quarterly common stock dividend of $0.55125 per share.

The company’s dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term.

The quarterly dividend is payable on or before October 15, 2026, to shareholders of record at the close of business on September 25, 2026.

About Portland General Electric Company
Portland General Electric (NYSE: POR) is an integrated energy company that generates, transmits and distributes electricity to nearly 960,000 customers serving an area of approximately 2 million Oregonians. Since 1889, Portland General Electric (PGE) has been powering economies, delivering safe, affordable and reliable electricity while working to transform energy systems to meet evolving customer needs. PGE continues to make progress towards emissions reduction targets, and customers have set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. PGE is ranked a top ten utility in the 2025 Forrester U.S. Customer Experience Index. In 2025, PGE employees and retirees volunteered over 18,300 hours to more than 400 nonprofits organizations. Through the PGE Foundation, along with corporate contributions and the employee matching gift program, more than $5 million was directed to charitable organizations supporting economic growth and community resilience across our service area. For information: portlandgeneral.com/news.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.

Forward-looking statements include statements, other than statements of historical or current fact, regarding the Company’s amount and timing of dividends payable as well as other statements containing words such as “committed to,” “targets,” or similar expressions.

There can be no assurance that future dividends will be declared. The declaration of future dividends is subject to approval of our board of directors and various risks and uncertainties, including, but not limited to: our cash flow and cash needs; the timing or amount of dividends paid; the timing or outcome of various legal and regulatory actions; changes in the Company’s business strategy; increases in capital expenditures; changes in capital and credit market conditions, including volatility of equity markets as well as changes in PGE’s credit ratings and outlook on such credit ratings restrictions on the payment of dividends under existing or future financing arrangements; changes in tax laws relating to corporate dividends; deterioration in our financial condition or results, and those risks, uncertainties, and other factors identified from time-to-time in our filings with the United States Securities and Exchange Commission (SEC), including our annual report on Form 10-K for the year ended December 31, 2025 and subsequent quarterly reports on Form 10-Q. These reports are available through the EDGAR system free-of-charge on the SEC’s website, www.sec.gov and on the Company’s website, investors.portlandgeneral.com. Investors should not rely unduly on any forward-looking statements. The Company assumes no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.

Media Contact:
Drew Hanson
Corporate Communications
Phone: 503-464-2067

Investor Contact:
Erin Schwartz
Investor Relations
Phone: 503-464-7751

View original content:https://www.prnewswire.com/news-releases/portland-general-electric-declares-dividend-302834503.html

SOURCE Portland General Company

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Technology

Care Career Announces Acquisition of MAS Medical Staffing, Completing Its First Acquisition Phase and Expanding Annual Revenue Beyond $150 Million, with a Path to Exceed a Quarter Billion by the End of 2026 Through Additional Acquisitions and Organic Growth

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3 hours ago

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July 24, 2026

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WOODBRIDGE, N.J., July 24, 2026 /PRNewswire/ — Care Career, a rapidly growing healthcare workforce technology organization, today announced the acquisition of MAS Medical Staffing, one of the Northeast’s leading healthcare workforce organizations. Financial terms of the transaction were not disclosed.

The acquisition represents Care Career’s seventh strategic acquisition in the past 24 months, further strengthening the company’s position as one of the largest healthcare workforce organizations in the United States while accelerating its strategy to redefine the future of healthcare workforce management through artificial intelligence, enterprise technology, and workforce innovation.

MAS Medical Staffing has built an outstanding reputation for delivering high-quality workforce solutions through strong client relationships, exceptional clinician engagement, and deep regional expertise throughout the Northeastern United States. The acquisition significantly expands Care Career’s geographic footprint while broadening its access to healthcare professionals, client relationships, workforce data, and regional market intelligence.

Care Career is building a technology-enabled workforce ecosystem powered by its AI-powered workforce platform, where every acquisition contributes not only additional market presence, but also expanded data, enhanced artificial intelligence capabilities, digital innovation, and operational scale that continuously improve the experience for clients and clinicians alike. As the platform grows, every clinician engagement, client interaction, credential, placement, and workforce trend strengthens the intelligence of Career’s technology, creating a continuously improving ecosystem designed to deliver faster, smarter, and more effective workforce solutions.

The acquisition also brings MAS Medical Staffing’s MAESTRA® engagement technology, along with its client relationships and clinician network, directly onto Career’s AI-powered workforce platform. MAESTRA’s scheduling, credentialing, and communication capabilities will be integrated into Care Career’s existing technology stack, further enhancing clinician engagement across onboarding, scheduling, and career management while providing healthcare organizations with greater workforce visibility and operational efficiency.

“Our vision is to build the AI-powered infrastructure that modernizes healthcare workforce management,” said Siva Konatham, Group President and Chief Executive Officer of Care Career. “Under my leadership, Care Career is focused on transforming a fragmented, labor-intensive industry into a data-driven, technology-enabled ecosystem that improves speed, efficiency, and workforce visibility for healthcare providers. Each acquisition strengthens our platform intelligence, expands our scale, and enhances our margin potential. By integrating advanced analytics, AI automation, and digital engagement tools, we are not just growing revenue—we are building a smarter, more scalable model positioned to lead the next era of healthcare workforce solutions.”

The combined organization will leverage expanded recruiting resources, centralized credentialing, advanced workforce analytics, AI-enabled automation, and digital engagement technologies—all powered by Care Career’s AI-powered workforce platform—to deliver broader recruiting capabilities, faster response times, enhanced workforce insights, and expanded national coverage. Clinicians will benefit from a seamless digital experience that simplifies every stage of their careers—from job discovery and credentialing to onboarding, scheduling, communication, and long-term career development.

With seven strategic acquisitions completed in less than two years, representing the first round of acquisitions now totaling more than $150 million in annual revenue, Care Career has rapidly expanded its national presence while executing a disciplined growth strategy focused on technology integration, operational excellence, and workforce innovation. The company has also signed additional Letters of Intent with other entities with expected close dates in the third quarter of 2026. Upon completion of these transactions, coupled with organic growth, Care Career expects consolidated annual revenue to exceed a quarter of a billion dollars by the end of 2026.

The addition of MAS Medical Staffing further strengthens the organization’s ability to serve healthcare systems, hospitals, long-term care providers, outpatient facilities, and other healthcare organizations across an increasingly diverse geographic footprint.

“The healthcare workforce industry is entering a new era where technology, artificial intelligence, and data-driven decision-making will define the market leaders,” Konatham added. “Every acquisition we complete expands the intelligence of our AI-powered workforce platform, enhances the value we deliver to our clients, and creates more opportunities for clinicians. We believe the combination of exceptional people, innovative technology, and strategic scale positions Care Career to lead the next generation of healthcare workforce solutions.”

About Care Career

Care Career is a technology-enabled healthcare workforce solutions company dedicated to transforming how healthcare organizations recruit, engage, credential, deploy, and retain clinical talent. Powered by its proprietary AI-powered workforce platform and supported by advanced artificial intelligence, enterprise technology, and workforce analytics, Care Career is building an intelligent healthcare workforce ecosystem that connects providers and clinicians more efficiently while improving workforce performance, operational effectiveness, and patient care. Following seven strategic acquisitions over the past 24 months the first round of acquisitions totaling more than $150 million in annual revenue and with additional signed LOIs under contract expected to complete shortly, positioning the company to surpass a quarter of a billion dollars in consolidated annual revenue by the end of 2026, Care Career has become one of the nation’s largest and fastest-growing healthcare workforce organizations, serving healthcare providers and clinicians across the United States.

About MAS Medical Staffing

MAS Medical Staffing is a premier healthcare workforce organization recognized for exceptional service, strong client partnerships, and a commitment to connecting healthcare professionals with rewarding career opportunities. With an established presence throughout the Northeastern United States, MAS Medical Staffing has earned a reputation for quality, responsiveness, and delivering workforce solutions that help healthcare providers meet their evolving workforce needs while supporting clinicians throughout every stage of their careers.

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SOURCE Care Career

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Technology

PointsKash Demonstrates How Businesses Can Build on Bitcoin Without Burdening the Blockchain

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3 hours ago

on

July 24, 2026

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As industry debate surrounding Bitcoin Improvement Proposal (BIP-110) intensifies, PointsKash unveils an architecture designed to work regardless of the proposal’s outcome.

SCOTTSDALE, Ariz., July 24, 2026 /PRNewswire/ — As the global Bitcoin community debates Bitcoin Improvement Proposal 110 (BIP-110) and the future of data stored on the Bitcoin blockchain, PointsKash, Inc. today announced that its next-generation kiosk infrastructure was intentionally designed to operate efficiently under any outcome of the proposal.

Rather than storing operational data directly on the Bitcoin blockchain, PointsKash utilizes a layered architecture that combines Bitcoin‘s unmatched security with modern decentralized communications technology. Every transaction, machine event, system update, and operational record generated across the PointsKash network is cryptographically verified, securely maintained off-chain, and anchored to the Bitcoin blockchain through a single immutable cryptographic proof.

This approach allows thousands of operational events to be permanently verified while utilizing only a minimal amount of blockchain data.

As discussion surrounding BIP-110 has intensified across the digital asset industry, PointsKash believes the debate does not require choosing between innovation and responsible blockchain stewardship.

“The industry has been debating whether businesses can build meaningful applications on Bitcoin without unnecessarily consuming blockchain space,” said Michael Herron, Chief Executive Officer of PointsKash. “We believe we’ve demonstrated that the answer is yes. Bitcoin provides the world’s most trusted immutable timestamp and security layer, while higher-volume operational data belongs on technologies specifically designed to manage it. By combining both, we’ve built an architecture that is scalable, transparent, and future-ready regardless of how the BIP-110 discussion ultimately evolves.”

The company’s infrastructure assigns every kiosk its own unique cryptographic identity, allowing each machine to securely authenticate every transaction and operational event. Those records are then independently verifiable through cryptographic proofs while remaining resistant to alteration or manipulation—even by PointsKash itself.

According to the company, this architecture delivers several significant advantages:

Mathematically verifiable transaction records for regulators, banking partners, auditors, and enterprise customers.Improved network reliability, allowing kiosks to continue operating during temporary connectivity interruptions without losing transaction history.Enhanced cybersecurity, with every machine maintaining its own authenticated identity and secure communications.A scalable blockchain architecture that minimizes on-chain data while preserving complete auditability.

“Bitcoin was created to provide trust, security, and permanence—not to become a storage system for every piece of application data,” Herron added. “Our philosophy has always been simple: use Bitcoin for what it does better than anyone else—creating immutable proof that records have never been altered—and leverage modern decentralized technologies for everything else. We believe that’s the future of enterprise blockchain infrastructure.”

PointsKash believes this architecture positions the company among a new generation of fintech innovators utilizing Bitcoin as a secure trust layer while developing scalable financial applications for enterprise deployment.

The technology also establishes the foundation for future blockchain-based financial products currently under development, including enhanced digital audit capabilities, verifiable financial records, enterprise licensing opportunities, and next-generation digital asset infrastructure.

As the Bitcoin ecosystem continues to mature, PointsKash believes its technology demonstrates that responsible innovation and blockchain scalability can successfully coexist—providing enterprise organizations with the confidence to build on Bitcoin without contributing unnecessary data to the network.

About PointsKash, Inc.

PointsKash, Inc. is a financial technology company developing an integrated ecosystem of AI-enabled self-service financial centers, digital banking, digital payment solutions, cryptocurrency services, loyalty rewards, enterprise merchant technologies, and mobile financial applications. Through proprietary software, Artificial Intelligence, and strategic partnerships, PointsKash is building innovative financial solutions designed to empower consumers, merchants, and enterprise organizations throughout North America.

For more information, visit www.pointskash.com.

Media Contact

PointsKash, Inc.
Investor Relations
info@pointskash.com
www.pointskash.com

Forward-Looking Statements

This press release contains forward-looking statements regarding anticipated technology integrations, Artificial Intelligence initiatives, product development, future commercialization plans, expected operational efficiencies, business strategy, and future growth. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could affect actual results include, but are not limited to, technology development timelines, integration efforts, financing, regulatory developments, market conditions, and other risks facing the Company. PointsKash undertakes no obligation to update any forward-looking statements except as required by applicable law.

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SOURCE PointsKash Inc.

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