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Weibo Announces Third Quarter 2024 Unaudited Financial Results

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2 years ago

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BEIJING, Nov. 19, 2024 /PRNewswire/ — Weibo Corporation (“Weibo” or the “Company”) (Nasdaq: WB and HKEX: 9898), a leading social media in China, today announced its unaudited financial results for the third quarter ended September 30, 2024.

“We had a solid quarter,” said Gaofei Wang, CEO of Weibo. “On the user front, we continued to focus on the acquisition and engagement of high quality users. On the monetization front, our advertising business has exhibited a stabilized trend this quarter. We are pleased to see robust growth of ad revenues from certain key sectors, mainly driven by ad demand during the Summer Olympics. Our value-added services business also delivered strong momentum this quarter, benefiting from the upgrade of membership services catering to users’ social interactions on the platform.”

 Third Quarter 2024 Highlights

Net revenues were US$464.5 million, an increase of 5% year-over-year or an increase of 3% year-over-year on a constant currency basis [1].Advertising and marketing revenues were US$398.6 million, an increase of 2% year-over-year or flat year-over-year on a constant currency basis [1].Value-added services (“VAS”) revenues were US$65.9 million, an increase of 25% year-over-year or an increase of 23% year-over-year on a constant currency basis [1].Income from operations was US$141.3 million, representing an operating margin of 30%.Net income attributable to Weibo’s shareholders was US$130.6 million and diluted net income per share was US$0.50.Non-GAAP income from operations was US$164.5 million, representing a non-GAAP operating margin of 35%.Non-GAAP net income attributable to Weibo’s shareholders was US$139.2 million and non-GAAP diluted net income per share was US$0.53.Monthly active users (“MAUs”) were 587 million in September 2024.Average daily active users (“DAUs”) were 257 million in September 2024.

 

[1] We define constant currency (non-GAAP) by assuming that the average exchange rate in the third quarter of 2024 had been the same as it was in the third quarter of 2023, or RMB7.23=US$1.00.

Third Quarter 2024 Financial Results

For the third quarter of 2024, Weibo’s total net revenues were US$464.5 million, an increase of 5% compared to US$442.2 million for the same period last year.

Advertising and marketing revenues for the third quarter of 2024 were US$398.6 million, an increase of 2% compared to US$389.3 million for the same period last year. Advertising and marketing revenues excluding advertising revenues from Alibaba were US$377.1 million, an increase of 3% compared to US$367.6 million for the same period last year.

VAS revenues for the third quarter of 2024 were US$65.9 million, an increase of 25% year-over-year compared to US$52.9 million for the same period last year, primarily driven by the growth of membership services and game-related revenues.

Costs and expenses for the third quarter of 2024 totaled US$323.2 million, an increase of 5% compared to US$308.2 million for the same period last year. The increase was mainly resulted from higher marketing spend and personnel related expenses.

Income from operations for the third quarter of 2024 was US$141.3 million, compared to US$134.0 million for the same period last year. Operating margin was 30%, same as last year. Non-GAAP income from operations was US$164.5 million, compared to US$163.9 million for the same period last year. Non-GAAP operating margin was 35%, compared to 37% last year.

Non-operating income for the third quarter of 2024 was US$23.6 million, compared to non-operating loss of US$28.4 million for the same period last year. Non-operating income for the third quarter of 2024 mainly included (i) gain from fair value change of investments of US$16.8 million, which was excluded under non-GAAP measures; and (ii) net interest and other income of US$6.7 million.

Income tax expenses for the third quarter of 2024 were US$32.2 million, compared to US$25.4 million for the same period last year. The increase was primarily due to withholding tax accrued related to earnings to be remitted to Weibo Hong Kong Limited from its wholly-owned subsidiary in China.

Net income attributable to Weibo’s shareholders for the third quarter of 2024 was US$130.6 million, compared to US$77.5 million for the same period last year. Diluted net income per share attributable to Weibo’s shareholders for the third quarter of 2024 was US$0.50, compared to US$0.32 for the same period last year. Non-GAAP net income attributable to Weibo’s shareholders for the third quarter of 2024 was US$139.2 million, compared to US$136.6 million for the same period last year. Non-GAAP diluted net income per share attributable to Weibo’s shareholders for the third quarter of 2024 was US$0.53, compared to US$0.57 for the same period last year.

As of September 30, 2024, Weibo’s cash, cash equivalents and short-term investments totaled US$2.2 billion. For the third quarter of 2024, cash provided by operating activities was US$124.2 million, capital expenditures totaled US$11.8 million, and depreciation and amortization expenses amounted to US$14.4 million.

Conference Call

Weibo’s management team will host a conference call from 6:00 AM to 7:00 AM Eastern Time on November 19, 2024 (or 7:00 PM to 8:00 PM Beijing Time on November 19, 2024) to present an overview of the Company’s financial performance and business operations.

Participants who wish to dial in to the teleconference must register through the below public participant link. Dial in and instruction will be in the confirmation email upon registering.

Participants Registration Link:
https://register.vevent.com/register/BI53615081ba80427881ec0a24ad90968c 

Additionally, a live and archived webcast of this conference call will be available at http://ir.weibo.com. 

Non-GAAP Financial Measures

This release contains the following non-GAAP financial measures: non-GAAP income from operations, non-GAAP net income attributable to Weibo’s shareholders, non-GAAP diluted net income per share attributable to Weibo’s shareholders and adjusted EBITDA. These non-GAAP financial measures should be considered in addition to, not as a substitute for, measures of the Company’s financial performance prepared in accordance with U.S. GAAP.

The Company’s non-GAAP financial measures exclude stock-based compensation, amortization of intangible assets resulting from business acquisitions, net results of impairment and provision on investments, gain/loss on sale of investments and fair value change of investments, non-GAAP to GAAP reconciling items on the share of equity method investments, non-GAAP to GAAP reconciling items for the income/loss attributable to non-controlling interests, income tax expense related to the amortization of intangible assets resulting from business acquisitions and fair value change of investments (other non-GAAP to GAAP reconciling items have no tax effect), and amortization of issuance cost of convertible senior notes, unsecured senior notes and long-term loans. Adjusted EBITDA represents non-GAAP net income attributable to Weibo’s shareholders before interest income/expense, net, income tax expenses/benefits, and depreciation expenses.

The Company’s management uses these non-GAAP financial measures in their financial and operating decision-making, because management believes these measures reflect the Company’s ongoing operating performance in a manner that allows more meaningful period-to-period comparisons. The Company believes that these non-GAAP financial measures provide useful information to investors and others in the following ways: (i) in comparing the Company’s current financial results with the Company’s past financial results in a consistent manner, and (ii) in understanding and evaluating the Company’s current operating performance and future prospects in the same manner as management does. The Company also believes that the non-GAAP financial measures provide useful information to both management and investors by excluding certain expenses, gains/losses and other items (i) that are not expected to result in future cash payments or (ii) that are non-recurring in nature or may not be indicative of the Company’s core operating results and business outlook.

Use of non-GAAP financial measures has limitations. The Company’s non-GAAP financial measures do not include all income and expense items that affect the Company’s operations. They may not be comparable to non-GAAP financial measures used by other companies. Accordingly, care should be exercised in understanding how the Company defines its non-GAAP financial measures. Reconciliations of the Company’s non-GAAP financial measures to the nearest comparable GAAP measures are set forth in the section below titled “Unaudited Reconciliation of Non-GAAP to GAAP Results.”

About Weibo

Weibo is a leading social media for people to create, share and discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.

Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. Weibo generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings. Weibo displays content in a simple information feed format and offers native advertisement that conform to the information feed on our platform. We are continuously refining our social interest graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness.

Safe Harbor Statement

This press release 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,” “confidence,” “estimates” and similar statements. Among other things, Weibo’s expected financial performance and strategic and operational plans, as described, without limitation, in quotations from management in this press release, contain forward-looking statements. Weibo may also make written or oral forward-looking statements in the Company’s periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), 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 the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, Weibo’s limited operating history in certain new businesses; failure to sustain or grow active user base and the level of user engagement; the uncertain regulatory landscape in China; fluctuations in the Company’s quarterly operating results; the Company’s reliance on advertising and marketing sales for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize new features and products; failure to compete effectively for advertising and marketing spending; failure to successfully integrate acquired businesses; risks associated with the Company’s investments, including equity pick-up and impairment; failure to compete successfully against new entrants and established industry competitors; changes in the macro-economic environment, including the depreciation of the Renminbi; and adverse changes in economic and political policies of the PRC government and its impact on the Chinese economy. Further information regarding these and other risks is included in Weibo’s annual reports on Form 20-F and other filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law.

Contact:

Investor Relations
Weibo Corporation
Phone: +86 10 5898-3336
Email: ir@staff.weibo.com

 

 

 

WEIBO CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands of U.S. dollars, except per share data)

Three months ended

Nine months ended

September 30,

June 30,

September 30,

September 30,

September 30,

2023

2024

2024

2023

2024

Net revenues:

     Advertising and marketing

$      389,301

$ 375,277

$      398,615

$   1,130,275

$     1,112,843

     Value-added services

52,850

62,596

65,865

165,894

185,007

Net revenues

442,151

437,873

464,480

1,296,169

1,297,850

Costs and expenses:

     Cost of revenues (1)

93,998

89,790

92,381

274,123

268,992

     Sales and marketing (1)

109,776

114,232

123,069

321,695

340,928

     Product development (1)

82,764

71,689

80,411

266,385

232,826

     General and administrative (1)

21,627

26,777

27,297

80,037

78,660

Total costs and expenses

308,165

302,488

323,158

942,240

921,406

Income from operations

133,986

135,385

141,322

353,929

376,444

Non-operating income (loss):

     Investment related income (loss), net

(8,915)

245

16,905

(6,950)

12,180

     Interest and other income (loss), net

(19,498)

11,182

6,699

(5,459)

(730)

(28,413)

11,427

23,604

(12,409)

11,450

Income before income tax expenses

105,573

146,812

164,926

341,520

387,894

     Less: Income tax expenses

25,407

33,275

32,197

72,709

90,516

Net income

80,166

113,537

132,729

268,811

297,378

     Less: Net income attributable to non-controlling interests

474

471

545

1,287

1,564

               Accretion to redeemable non-controlling interests

2,203

1,135

1,617

8,156

3,878

Net income attributable to Weibo’s shareholders

$        77,489

$ 111,931

$      130,567

$      259,368

$        291,936

Basic net income per share attributable to Weibo’s shareholders

$            0.33

$        0.47

$            0.55

$             1.10

$               1.23

Diluted net income per share attributable to Weibo’s shareholders

$            0.32

$        0.43

$            0.50

$             1.09

$               1.12

Shares used in computing basic net income per share attributable

    to Weibo’s shareholders

235,842

237,124

237,499

235,307

237,107

Shares used in computing diluted net income per share attributable

    to Weibo’s shareholders

238,655

265,086

265,824

237,817

264,856

(1) Stock-based compensation in each category:

Cost of revenues

$          2,308

$      1,527

$          1,539

$           7,082

$             4,839

Sales and marketing

4,243

3,211

3,454

12,969

10,488

Product development

13,306

8,293

8,593

40,362

27,324

General and administrative

5,834

4,176

4,512

18,970

13,666

 

 

 

WEIBO CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars)

As of

December 31,

September 30,

2023

2024

Assets

Current assets:

Cash and cash equivalents

$     2,584,635

$     1,203,977

Short-term investments

641,035

993,618

Accounts receivable, net

440,768

419,369

Prepaid expenses and other current assets

359,881

375,455

Amount due from SINA(1)

486,397

465,676

      Current assets subtotal

4,512,716

3,458,095

Property and equipment, net

220,663

227,609

Goodwill and intangible assets, net

300,565

288,233

Long-term investments

1,320,386

1,445,467

Other non-current assets

926,028

1,205,712

Total assets

$     7,280,358

$     6,625,116

Liabilities, Redeemable Non-controlling Interests and Shareholders’ Equity 

Liabilities:

Current liabilities:

Accounts payable

$        161,493

$        154,440

Accrued expenses and other current liabilities

666,833

638,826

Income tax payable

94,507

80,711

Deferred revenues

75,187

94,690

Unsecured senior notes

799,325

–

     Current liabilities subtotal

1,797,345

968,667

Long-term liabilities:

Convertible senior notes

317,625

320,017

Unsecured senior notes

743,695

744,420

Long-term loans

791,647

794,395

Other long-term liabilities

112,430

119,676

     Total liabilities

3,762,742

2,947,175

Redeemable non-controlling interests

68,728

42,377

Shareholders’ equity :

Weibo shareholders’ equity 

3,398,735

3,583,469

Non-controlling interests

50,153

52,095

Total shareholders’ equity 

3,448,888

3,635,564

Total liabilities, redeemable non-controlling interests and
    shareholders’ equity

$     7,280,358

$     6,625,116

(1) Included short-term loans to and interest receivable from SINA of US$445.2 million as of December 31, 2023 and US$423.5 million
as of September 30, 2024.

 

 

 

WEIBO CORPORATION

UNAUDITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS

(In thousands of U.S. dollars, except per share data)

Three months ended

Nine months ended

September 30,

June 30,

September 30,

September 30,

September 30,

2023

2024

2024

2023

2024

Income from operations

$

133,986

$

135,385

$

141,322

$

353,929

$

376,444

  Add:

Stock-based compensation

25,691

17,207

18,098

79,383

56,317

Amortization of intangible assets resulting from business acquisitions

4,209

5,011

5,112

12,919

15,182

Non-GAAP income from operations

$

163,886

$

157,603

$

164,532

$

446,231

$

447,943

Net income attributable to Weibo’s shareholders

$

77,489

$

111,931

$

130,567

$

259,368

$

291,936

  Add:

Stock-based compensation

25,691

17,207

18,098

79,383

56,317

Amortization of intangible assets resulting from business
  acquisitions

4,209

5,011

5,112

12,919

15,182

Investment related gain/loss, net (1)

8,915

(245)

(16,905)

6,950

(12,180)

Non-GAAP to GAAP reconciling items on the share of equity
  method investments 

19,430

(8,412)

1,975

12,351

18,921

Non-GAAP to GAAP reconciling items for the income/loss
  attributable to non-controlling interests

(101)

(435)

(501)

(414)

(1,372)

Tax effects on non-GAAP adjustments (2)

(645)

(1,082)

(1,112)

(1,176)

(3,297)

Amortization of  issuance cost of convertible senior notes, unsecured
  senior notes and long-term loans

1,607

2,277

1,951

4,819

6,542

Non-GAAP net income attributable to Weibo’s shareholders

$

136,595

$

126,252

$

139,185

$

374,200

$

372,049

Non-GAAP diluted net income per share attributable to Weibo’s
  shareholders

$

0.57

$

0.48

*

$

0.53

*

$

1.57

$

1.42

*

Shares used in computing GAAP diluted net income per share attributable
  to Weibo’s shareholders

238,655

265,086

265,824

237,817

264,856

Shares used in computing non-GAAP diluted net income per share
  attributable to Weibo’s shareholders

238,655

265,086

265,824

237,817

264,856

Adjusted EBITDA:

Net income attributable to Weibo’s shareholders

$

77,489

$

111,931

$

130,567

$

259,368

$

291,936

Non-GAAP adjustments

59,106

14,321

8,618

114,832

80,113

Non-GAAP net income attributable to Weibo’s shareholders

136,595

126,252

139,185

374,200

372,049

Interest (income) expense, net

2,823

(9,410)

(6,348)

(5,554)

(24,909)

Income tax expenses

26,052

34,357

33,309

73,886

93,813

Depreciation expenses

9,354

9,169

8,985

29,917

27,571

Adjusted EBITDA

$

174,824

$

160,368

$

175,131

$

472,449

$

468,524

Net revenues

$

442,151

$

437,873

$

464,480

$

1,296,169

$

1,297,850

Non-GAAP operating margin

37 %

36 %

35 %

34 %

35 %

(1)

To adjust impairment and provision on investments, gain/loss on sale of investments and fair value change of investments.

(2)

To adjust the income tax effects of non-GAAP adjustments, which primarily related to amortization of intangible assets resulting from business acquisitions and fair value change
of investments. Other non-GAAP adjustment items have no tax effect, because (i) they were recorded in entities established in tax free jurisdictions, or (ii) full valuation
allowances were provided for related deferred tax assets as it is more-likely-than-not they will not be realized.

* 

Net income attributable to Weibo’s shareholders is adjusted for interest expense of convertible senior notes for calculating diluted EPS.

 

 

 

WEIBO CORPORATION

UNAUDITED ADDITIONAL INFORMATION

(In thousands of U.S. dollars)

Three months ended

Nine months ended

September 30,

June 30,

September 30,

September 30,

September 30,

2023

2024

2024

2023

2024

Net revenues

Advertising and marketing

     Non-Ali advertisers

$      367,633

$      342,868

$      377,112

$   1,063,558

$   1,036,380

     Alibaba – as an advertiser

21,668

32,409

21,503

66,717

76,463

         Subtotal

389,301

375,277

398,615

1,130,275

1,112,843

Value-added services

52,850

62,596

65,865

165,894

185,007

$      442,151

$      437,873

$      464,480

$   1,296,169

$   1,297,850

 

 

 

View original content:https://www.prnewswire.com/news-releases/weibo-announces-third-quarter-2024-unaudited-financial-results-302309557.html

SOURCE Weibo Corporation

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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

Published

52 minutes ago

on

July 24, 2026

By

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

Published

52 minutes ago

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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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As ADA Anniversary Approaches, University of Phoenix Survey Highlights AI’s Potential to Advance Accessibility in Work and Learning

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July 24, 2026

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Survey conducted by The Harris Poll on behalf of University of Phoenix finds among those already using AI in the workplace, 60% say AI has improved their knowledge of and ability to use accessibility standards and guidelines.

PHOENIX, July 24, 2026 /PRNewswire/ — As artificial intelligence becomes part of how people work, learn and solve problems, a new University of Phoenix survey conducted by The Harris Poll finds that recent working learners see meaningful opportunities for AI to support accessibility. The survey was designed to understand the impact of AI in the workplace and learning environments on accessibility, defined as ensuring digital content, tools and resources, including AI tools and output, are usable by people with different abilities through inclusive design, use of assistive technology or conformance with accessibility standards, such as the Web Content Accessibility Guidelines (WCAG). The findings are being released ahead of the 36th anniversary of the Americans with Disabilities Act (ADA) on July 26.

The survey, conducted among 1,019 U.S. employed adults who completed a professionally presented training or school course in the past 12 months (“recent working learners”), found that, among workers already using AI in the workplace, 3 in 5 (60%) say AI has improved their knowledge of and ability to use accessibility standards and guidelines, including nearly 1 in 5 (19%) who report significant improvement. 

While the findings point to optimism about AI’s accessibility potential, they also reveal an opportunity for clearer organizational guidance: 45% of respondents say accessibility is absent from, unclear in, or they are uncertain whether it is covered by their workplace AI policies.

“The reality is that accessibility benefits everyone,” shares Kelly Hermann, Vice President of Accessibility and Student Affairs at University of Phoenix. “If accessibility is built in from the beginning, organizations are more likely to create AI-enabled environments that are universally usable. Clearer content, better summaries, accurate captions, and multiple formats can help workers and learners with disabilities, but they also help busy adults, multilingual learners, mobile users, and anyone trying to absorb information quickly.”

Key findings from the survey include:

Workers see AI’s accessibility potential: 89% of recent working learners identify workflows that could benefit from AI and accessibility tools, especially creating accessible documents, presentations, websites or learning materials (38%), presenting information in different formats such as plain language, audio, summaries or translations (33%), and training employees or learners on accessibility practices (30%).AI may help build accessibility awareness: Among those already using AI in the workplace, 60% say AI has improved their knowledge of and ability to use accessibility standards and guidelines.Accessibility is not always clear in workplace AI policies: 45% of recent working learners say accessibility is absent from, unclear in, or they are uncertain whether it is covered by their workplace AI policies.AI tools may not yet fully support different access needs: Among those who use workplace AI tools, only about a quarter of survey respondents (27%) say AI tools available through their workplace or professional learning environment support people with disabilities very well.Human oversight remains important: 36% of recent working learners say human review for important decisions or high-impact work should be part of responsible AI use at work or school.Workers also recognize how AI and accessibility can have an impact on their own career journey: 90% of recent working learners identify AI and accessibility skills that would be valuable in their current or desired career field, including 45% who see value in understanding when AI-generated content needs human review.

Why accessibility is essential to responsible AI adoption

As AI tools are used to draft documents, summarize information, generate captions and transcripts, create image descriptions, support learning and assist with workplace tasks, accessibility becomes central to responsible use. Poorly implemented AI can also create or amplify barriers, including inaccessible content, inaccurate summaries, biased outputs and tools that do not work effectively with assistive technologies.

“Responsible AI is not only about productivity,” Hermann said. “It is about whether the technology works for the people who need to use it. AI can help create more accessible materials and more flexible ways to engage with information, but it still requires clear policies, practical training and human judgment to make sure the outputs are accurate, applicable and usable.”

What the findings mean for employers and educators

The survey suggests that organizations have an opportunity to align AI adoption with supportive design, accessibility practices and workforce training. Employers and educators can take immediate steps by:

Naming accessibility directly in AI policies and guidance.Choosing AI tools with accessibility and assistive technology compatibility in mind.Training workers and learners to create, check and improve accessible AI-generated content.Making support pathways clear for people who experience barriers using AI tools.Keeping human review in place for important decisions, high-impact work and accessibility-sensitive outputs.

The survey also found workers want practical AI training. The most helpful resources identified by recent working learners include real-world examples from their field or industry (36%), hands-on practice using realistic workplace scenarios (34%) and step-by-step demonstrations of common tasks (33%).

Accessibility insights from University of Phoenix

Hermann shared the survey findings ahead of the ADA anniversary in recent media interviews. Hermann oversees the University’s accessibility initiative, including evaluation and remediation of curricular resources, the Center for Access, Resources, Engagement and Support Services (CARES), and the Office of Collaborative Learning and Educational Engagement. Her work focuses on fostering accessible and welcoming educational environments for students, faculty and staff.

Hermann’s office at University of Phoenix also convenes accessibility conversations through initiatives such as Access Amplified™, a free, annual virtual event focused on advancing digital accessibility in web development. The event brings together engineers, developers, designers, content authors and digital strategists for practical strategies and human-centered conversations that address the gap between coding practices and how users with assistive technology experience the web.

About the survey

The survey was conducted online within the United States by The Harris Poll on behalf of University of Phoenix from June 22–29, 2026, among 1,019 employed adults ages 18 and older who have taken a professionally presented training or a school course in the past 12 months, referred to as “recent working learners.” Data were weighted where necessary by age, gender, race/ethnicity, region, education, employment, marital status, household size, household income and smoking status to bring them in line with their actual proportions in the population.

Respondents for this survey were selected from among those who have agreed to participate in surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 3.8 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.

Review the complete survey at phoenix.edu/aiaccessibility.

About University of Phoenix

University of Phoenix is Built for Real Life. 50 Years Strong. The University innovates to help working adults enhance their careers and develop skills in a rapidly changing world through flexible online learning, relevant courses, academic AI pillars, and skills-mapped curriculum for associate, bachelor’s and master’s degree programs. Active students and alumni have access to Career Services for Life® resources including career guidance and tools. For more information, visit phoenix.edu. 

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SOURCE University of Phoenix

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