Technology

Cheche Group Reports Third Quarter 2024 Unaudited Financial Results

Published

2 years ago

November 26, 2024

BEIJING, Nov. 26, 2024 /PRNewswire/ — Cheche Group Inc. (NASDAQ: CCG) (“Cheche”, the “Company” or “we”), China’s leading auto insurance technology platform, today announced its unaudited financial results for the third quarter ended September 30, 2024.

Financial and Operational Highlights

Net Revenues for the quarter increased 3.3% year-over-year to RMB850.5 million (US$121.2 million), while net revenues for the first nine months of 2024 increased 2.3% over the comparable prior year period to RMB2.5 billion (US$354.8 million). Net Income for the quarter was RMB4.1 million (US$0.6 million), compared to a net loss of RMB55.4 million for the prior-year quarter, while net loss for the first nine months of 2024 decreased 60.2% to RMB50.8 million (US$7.2 million) over the prior-year period.Adjusted Net Income (1) for the quarter was RMB2.6 million (US$0.4 million), compared to an adjusted net loss of RMB0.6 million for the prior-year quarter, while adjusted net loss for the first nine months of 2024 decreased 23.0% to RMB21.8 million (US$3.1 million), compared to the prior-year period.Total written premiums placed for the quarter increased 4.0% to RMB5.9 billion (US$0.8 billion) compared to the prior-year period, while total written premiums placed for the first nine months of 2024 increased 4.1% over the comparable prior-year period to RMB16.9 billion (US$2.4 billion).Total number of policies issued for the quarter increased 5.0% to 4.2 million from 4.0 million for the prior-year quarter, while the total number of policies issued over the first nine months of 2024 increased 11.9% over the comparable prior-year period to 12.2 million.Partnerships with New Energy Vehicle (NEV) companies (2) numbered 14 in the quarter and led to 292,000 embedded policies with corresponding written premium of RMB884.2 million (US$126.0 million), representing an increase of 149.6% and 121.6 % compared to the prior-year quarter, respectively. Embedded policies and corresponding written premium for the first nine months of 2024 reached 636,000 and RMB1.9 billion (US$273.2 million), respectively, representing growth of 144.6 % for policies embedded and 104.2% for written premium compared to the prior-year period.

(1) Adjusted Net Loss/Income is a non-GAAP measure. For further information on the non-GAAP financial measures presented above, see the “Non-GAAP Financial Measures” section below.

(2) The rapid growth of the NEV market has created new opportunities for auto insurance offerings and propelled revenue growth of auto insurance providers. Cheche started collaborating with NEV manufacturers in 2022, which yielded considerable results in 2023. Cheche believes that the further development of the NEV market and the introduction of innovative NEV auto insurance solutions will further fuel the revenue contribution of its partnership with NEV manufacturers. The management of Cheche utilizes the number of partnerships with NEV manufacturers, the number of insurance policies embedded in the new NEV deliveries, and the number of corresponding premiums generated from such embedded policies as the primary operating metrics to evaluate its business. It presents such operating metrics for investors to better understand and assess Cheche’s business.

Management Comments

“We are proud to announce that Cheche reported net income profitability for the first time on both a GAAP and adjusted net income basis. This quarter’s milestone substantiates the merit of our business model and the growing conviction in our value proposition,” said Lei Zhang, Founder, CEO, and Chairman of Cheche Group. “We continue to work with both NEV manufacturers and insurers to leverage advanced data analysis, delivering tools that will reward responsible drivers, reduce fraud, and bring efficiencies to claims processing to support profitability, transparency, and affordability as the transition to automated mobility accelerates.

Mr. Zhang continued, “With China producing 48% more NEVs in September over the prior year, according to China Association of Automobile Manufacturers, and NEV sales again surpassing traditional fuel car sales in the same month, our innovative platform will continue to meet the evolving insurance needs of car owners, manufacturers, and insurers.”

Unaudited Third Quarter 2024 Financial Results

Net Revenues were RMB850.5 million (US$121.2 million), representing a 3.3% year-over-year increase from the prior-year quarter. The growth was driven by increased insurance transactions conducted through Cheche’s platform by referral and third-party platform partners.

Cost of Revenues increased 3.0% year-over-year to RMB808.1 million (US$115.2 million) from the prior-year quarter, consistent with the growth of business volume and net revenues.

Selling and Marketing Expenses decreased 53.6% to RMB18.1 million (US$2.6 million) from RMB39.0 million in the prior-year quarter, mainly due to the decrease in share-based compensation expenses and staff cost. Excluding share-based compensation expenses, selling and marketing expenses were RMB17.4 million (US$2.5 million), a decrease of 6.5% compared to the prior-year quarter.

General and Administrative Expenses decreased 41.3% to RMB20.4 million (US$2.9 million) from RMB34.8 million for the prior-year quarter, mainly due to the decrease in share-based compensation and professional service fees. Excluding share-based compensation and listing-related professional service fees, general and administrative expenses increased by RMB3.5 million from RMB15.0 million to RMB18.5 million (US$2.6 million), primarily due to the increase of post-listing professional service fees.

Research and Development Expenses decreased 24.5% to RMB10.2 million (US$1.4 million) from RMB13.5 million in the prior-year quarter. The change was mainly due to decreased share-based compensation expenses, partially offset by the increase of staff costs. Excluding share-based compensation expenses, research and development expenses decreased 8.8% to RMB9.8 million (US$1.4 million) from RMB10.8 million in the prior-year quarter.

Total Cost and Operating Expenses decreased by 1.8% to RMB856.8 million (US$122.1 million) from RMB872.0 million in the prior-year quarter, mainly due to the increased cost of revenues and the decrease in share-based compensation expenses. Excluding share-based compensation expenses, amortization of intangible assets related to the acquisition and listing-related professional service fees, total cost and operating expenses increased by 3.0% from the prior-year quarter.

Net Income for the quarter was RMB4.1 million (US$0.6 million), compared to a net loss of RMB55.4 million for the prior-year quarter. Excluding non-GAAP expenses, the Adjusted Net Income (1) for the quarter was RMB2.6 million (US$0.4 million), due to the improvement of operating results and the positive impact from foreign exchange rates, compared to an adjusted net loss of RMB0.6 million for the prior-year quarter.

Net Income attributable to Cheche’s shareholders was RMB4.1 million (US$0.6 million), compared to a net loss attributable to Cheche’s shareholders of RMB707.6 million for the prior-year quarter.

Adjusted Net Income attributable to Cheche’s shareholders was RMB2.6 million (US$0.4 million), compared to an adjusted net loss attributable to Cheche’s shareholders of RMB652.7 million for the prior-year quarter.

Net Income Per Share, basic and diluted, was RMB0.05 (US$0.01), compared to a net loss per share of RMB17.52, basic and diluted, for the prior-year quarter.

Adjusted Net Income Per Share, basic and diluted, was RMB0.03 (US$0.00), compared to an adjusted net loss per share of RMB16.16, basic and diluted, for the prior-year quarter.

3Q24 and Subsequent Business Highlights

On September 3, 2024, Cheche announced a partnership with Shanghai Jidu Automobile Company Limited (“JI YUE“) to further diversify its partner network with leaders in the NEV industry. Cheche successfully launched a system for JI YUE, creating channels for online and offline purchasing of auto and non-auto insurance products. The system is integrated into Cheche’s core platform and is equipped with resources to grow and strengthen JI YUE’s sales channels and enhance account settlement capabilities, among other functionalities.On September 12, 2024, Cheche announced a partnership with Laoyou Insurance Brokerage Co., Ltd. (“Laoyou Insurance”), a wholly controlled subsidiary of Great Wall Motor Company Limited (“GWM”), a top ten Chinese auto manufacturer. Cheche’s insurance solutions and mature transaction system have been gradually rolled out with GWM’s newly established direct-sales network in more than 20 cities nationwide. Cheche plans to develop a comprehensive insurance solution tailored for traditional automakers within one to two years.On October 1, 2024, Cheche announced a strategic partnership with The Tokio Marine & Nichido Fire Insurance Company (China) Limited (“TMNCH”), as Cheche continues to broaden its collaborations with insurance companies in China. Leveraging each other’s strengths, the two companies are working to develop specialized insurance products, services, and sales strategies. Cheche’s agreement with TMNCH is two pronged. This collaboration will enhance Cheche’s insurance service capabilities while offering increased scale for traditional automotive companies and pave the way for future partnerships with Japanese automotive companies.

Balance Sheet

As of September 30, 2024, the Company had RMB194.6 million (US$27.7 million) in total cash, cash equivalents and short-term investments.

Business Outlook

Cheche is affirming its full-year 2024 outlook:

Net Revenues are expected to range from RMB3.5 billion to RMB3.7 billion, representing an increase of 6.1% to 12.1%, compared to the full year of 2023.Total written premiums placed are expected to range from RMB24.5 billion to RMB26.5 billion, representing an increase of 8.4% to 17.3%, compared to the full year of 2023.

Conference Call

Cheche will host a webcast and conference call to discuss its third quarter 2024 results today at 8:00 a.m. EST. This earnings release and a related investor deck will be available prior to the event in the “Quarterly Results” section under “Financials,” while the live webcast will be available in the “Events” section under the “News & Events” header on the investor relations website at ir.chechegroup.com.

The dial-in numbers for the conference call will be as follows:

Participant (toll-free): 1-888-346-8982Participant (international): 1-412-902-4272Hong Kong LT: 852-301-84992Hong Kong Toll Free: 800-905945China Toll-Free: 4001-201203

Please dial in 10 to 15 minutes before the scheduled start time and request Cheche’s third quarter earnings call.

A webcast replay will be available for one year following the call.

Exchange Rate Information

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

About Cheche Group Inc.

Established in 2014 and headquartered in Beijing, China, Cheche is a leading auto insurance technology platform with a nationwide network of around 108 branches licensed to distribute insurance policies across 25 provinces, autonomous regions, and municipalities in China. Capitalizing on its leading position in auto insurance transaction services, Cheche has evolved into a comprehensive, data-driven technology platform that offers a full suite of services and products for digital insurance transactions and insurance SaaS solutions in China. Learn more at https://www.chechegroup.com/en.

Cheche Group Inc.:

IR@chechegroup.com

Crocker Coulson
crocker.coulson@aummedia.org
(646) 652-7185

Non-GAAP Financial Measures

Cheche has provided non-GAAP financial measures in this press release that have not been prepared in accordance with generally accepted accounting principles (GAAP) in the United States.

Cheche uses adjusted cost of revenues, adjusted selling and marketing expenses, adjusted general and administrative expenses, adjusted research and development expenses, adjusted total cost and operating expenses, adjusted net loss/income, and adjusted net loss/income per share, which are non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes.

Cheche defines adjusted total cost and operating expenses as total cost and operating expenses adjusted for the impact of share-based compensation, amortization of intangible assets related to the acquisition of Cheche Insurance Sales & Services Co., Ltd. (previously named Fanhua Times Sales and Service Co., Ltd), listing-related professional service fees and dispute resolution expenses, representing expenses Cheche incurred in a dispute with a certain security holder. Cheche defines adjusted net loss/income as net loss/income adjusted for the impact of share-based compensation expenses, amortization of intangible assets, and changes in fair value of amounts due to a related party related to the acquisition of Cheche Insurance Sales & Services Co., Ltd. (previously named Fanhua Times Sales and Service Co., Ltd), change in fair value of warrants, listing related professional service fees and dispute resolution expenses. Adjusted net loss/income per share, basic and diluted, is calculated as adjusted net loss/income divided by weighted-average ordinary shares outstanding.

Cheche believes that these non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by the impact of share-based compensation expenses, amortization of intangible assets related to acquisition, and change in fair value of amounts due to a related party associated with the acquisition of Cheche Insurance Sales & Services Co., Ltd. (previously named Fanhua Times Sales and Service Co., Ltd), change in fair value of warrants, and listing related professional service fees and dispute resolution expenses. Cheche believes that such non-GAAP financial measures also provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects, and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP nor presented in accordance with U.S. GAAP. They should not be considered in isolation or construed as alternatives to net loss /income or any other measure of performance or as an indicator of Cheche’s operating performance. Further, these non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. Cheche encourages investors and others to review the Company’s financial information in its entirety and not rely on a single financial measure. Investors are encouraged to compare the historical non-GAAP financial measures with the most directly comparable GAAP measures. Cheche mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating its performance.

Safe Harbor Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding projections, estimations, and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the Company’s ability to scale and grow its business, the Company’s advantages and expected growth, and its ability to source and retain talent, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management and are not predictions of actual performance. These statements involve risks, uncertainties, and other factors that may cause the Company’s actual results, activity levels, performance, or achievements to materially differ from those expressed or implied by these forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. The forward-looking statements in this press release represent the views of the Company as of the date of this press release. Subsequent events and developments may cause those views to change. Except as may be required by law, the Company does not undertake any duty to update these forward-looking statements.

Unaudited Condensed Consolidated Balance Sheets (All amounts in thousands, except for share
and per share data)

December 31,

September 30,

2023

2024

RMB

USD

ASSETS

Current assets:

Cash and cash equivalents

243,392

131,110

18,683

Short-term investments

21,474

63,512

9,050

Accounts receivable, net

466,066

746,873

106,429

Prepayments and other current assets

49,321

41,829

5,961

Total current assets

780,253

983,324

140,123

Non-current assets:

Restricted Cash

5,000

712

Property, equipment and leasehold improvement, net

1,667

2,205

314

Intangible assets, net

8,050

6,475

923

Right-of-use assets

10,249

8,936

1,273

Goodwill

84,609

12,057

Other non-current assets

4,149

4,930

703

Total non-current assets

113,724

112,155

15,982

Total assets

893,977

1,095,479

156,105

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

316,868

565,806

80,627

Short-term borrowings

20,000

15,000

2,137

Contract liabilities

4,295

2,524

360

Salary and welfare benefits payable

73,609

78,500

11,186

Tax payable

950

4,547

648

Amounts due to related party

55,251

–

Accrued expenses and other current liabilities

25,759

17,905

2,552

Short-term lease liabilities

3,951

4,270

608

Warrant

850

–

Total current liabilities

501,533

688,553

98,118

Non-current liabilities:

Amounts due to related party

–

44,420

6,330

Deferred tax liabilities

2,013

1,619

231

Long-term lease liabilities

5,398

3,960

564

Deferred revenue

1,432

204

Warrant

5,419

1,241

177

Total non-current liabilities

14,262

52,672

7,506

Total liabilities

515,795

741,225

105,624

Ordinary shares

Treasury stock

(1,025)

(146)

Additional paid-in capital

2,491,873

2,521,942

359,374

Accumulated deficit

(2,113,821)

(2,164,642)

(308,459)

Accumulated other comprehensive income/(loss)

1,150

(2,027)

(289)

Total Cheche’s shareholders’ equity

378,182

354,254

50,481

Total liabilities and shareholders’ equity

893,977

1,095,479

156,105

Unaudited Condensed Consolidated Statements of Operations and Comprehensive (Loss)/Income

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

For the Three Months Ended

For the Nine Months Ended

September 30,

2023

2024

2023

2024

RMB

USD

RMB

USD

Net revenues

823,269

850,517

121,198

2,433,640

2,489,503

354,751

Cost and Operating expenses:

Cost of revenues

(784,782)

(808,079)

(115,150)

(2,336,761)

(2,382,364)

(339,484)

Selling and marketing expenses

(38,991)

(18,110)

(2,581)

(86,747)

(59,771)

(8,517)

General and administrative expenses

(34,809)

(20,422)

(2,910)

(84,503)

(82,175)

(11,710)

Research and development expenses

(13,465)

(10,166)

(1,449)

(44,768)

(28,691)

(4,088)

Total cost and operating expenses

(872,047)

(856,777)

(122,090)

(2,552,779)

(2,553,001)

(363,799)

Other expenses:

Interest income

1,212

1,753

250

2,695

5,010

714

Interest expense

(329)

(176)

(25)

(871)

(616)

(88)

Foreign exchange gains/(losses)

1,069

3,502

499

(5,265)

2,447

349

Government grants

2,685

243

9,925

477

Changes in fair value of warrant

(10,307)

992

141

(10,434)

4,368

622

Changes in fair value of amounts due
to related party

(1,086)

3,901

556

(4,922)

615

Others, net

(33)

(2)

186

(Loss)/income before income tax

(55,567)

3,961

565

(128,013)

(51,011)

(7,268)

Income tax credit

128

386

190

Net (loss)/income

(55,439)

4,051

578

(127,627)

(50,821)

(7,241)

Accretions to preferred shares
redemption value

(652,178)

–

(762,169)

–

Net (loss)/income attributable to the
Cheche’s ordinary shareholders

(707,617)

4,051

578

(889,796)

(50,821)

(7,241)

Net (loss)/income

(55,439)

4,051

578

(127,627)

(50,821)

(7,241)

Other comprehensive (loss)/income:

Foreign currency translation
adjustments, net of nil tax

(1,433)

(5,408)

(771)

5,977

(3,393)

(483)

Fair value changes of amounts due to
related party due to own credit risk

(104)

470

(404)

216

Total other comprehensive
(loss)/income

(1,537)

(4,938)

(704)

5,573

(3,177)

(452)

Total comprehensive loss

(56,976)

(887)

(126)

(122,054)

(53,998)

(7,693)

Net (loss)/income per ordinary
shares outstanding

Basic

(17.52)

0.05

0.01

(25.21)

(0.66)

(0.09)

Diluted

(17.52)

0.05

0.01

(25.21)

(0.66)

(0.09)

Weighted average number of
ordinary shares outstanding

Basic

40,396,693

79,396,465

35,297,133

77,324,958

Diluted

40,396,693

86,508,545

35,297,133

77,324,958

Reconciliation of GAAP Cost and Operating Expenses to Non-GAAP Cost and Operating
Expenses (Unaudited)

(All amounts in thousands)

For the Three Months Ended

For the Nine Months Ended

September

30,

September

30,

September

30,

September

30,

September

30,

September

30,

2023

2024

2023

2024

RMB

USD

RMB

USD

Cost of revenues

(784,782)

(808,079)

(115,150)

(2,336,761)

(2,382,364)

(339,484)

Add: Share-based compensation
expenses

114

–

187

Amortization of intangible assets related
to acquisition

525

1,575

224

Adjusted Cost of revenues

(784,143)

(807,551)

(115,075)

(2,334,999)

(2,380,780)

(339,259)

Selling and marketing expenses

(38,991)

(18,110)

(2,581)

(86,747)

(59,771)

(8,517)

Add: Share-based compensation
expenses

20,381

718

102

30,054

4,350

620

Adjusted Selling and marketing
expenses

(18,610)

(17,392)

(2,479)

(56,693)

(55,421)

(7,897)

General and administrative expenses

(34,809)

(20,422)

(2,910)

(84,503)

(82,175)

(11,710)

Add: Share-based compensation
expenses

10,334

1,898

270

25,689

24,044

3,426

Listing related professional expenses

9,435

–

14,972

–

Dispute resolution expenses (1)

–

2,355

336

Adjusted General and administrative
expenses

(15,040)

(18,524)

(2,640)

(43,842)

(55,776)

(7,948)

Research and development expenses

(13,465)

(10,166)

(1,449)

(44,768)

(28,691)

(4,088)

Add: Share-based compensation
expenses

2,688

334

11,462

1,667

238

Adjusted Research and development
expenses

(10,777)

(9,832)

(1,401)

(33,306)

(27,024)

(3,850)

Total cost and operating expenses

(872,047)

(856,777)

(122,090)

(2,552,779)

(2,553,001)

(363,799)

Adjusted total cost and operating
expenses

(828,570)

(853,299)

(121,595)

(2,468,840)

(2,519,001)

(358,954)

(1) represents expenses incurred by Cheche in connection with settling a dispute with a certain security holder,
which are not directly related to the core operations of Cheche’s business.

Reconciliation of GAAP to Non-GAAP Measures (Unaudited)

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

For the Three Months Ended

For the Nine Months Ended

September

30,

September

30,

September

30,

September

30,

September

30,

September

30,

2023

2024

2023

2024

RMB

USD

RMB

USD

Net (loss)/income

(55,439)

4,051

578

(127,627)

(50,821)

(7,241)

Add: Share-based compensation expenses

33,517

2,953

420

67,392

30,070

4,285

Amortization of intangible assets related to acquisition

525

1,575

224

Listing related professional expenses

9,435

–

14,972

–

Changes in fair value of warrant

10,307

(992)

(141)

10,434

(4,368)

(622)

Changes in fair value of amounts due to related party

1,086

(3,901)

(556)

4,922

(615)

(88)

Dispute resolution expenses

–

2,355

336

Adjusted net (loss)/income

(569)

2,636

376

(28,332)

(21,804)

(3,106)

Accretions to preferred shares redemption value

(652,178)

–

(762,169)

–

Adjusted net (loss)/income attributable to
Cheche’s ordinary shareholders

(652,747)

2,636

376

(790,501)

(21,804)

(3,106)

Weighted average number of ordinary shares used
in computing non-GAAP adjusted net
(loss)/income per ordinary share

Basic

40,396,693

79,396,465

35,297,133

77,324,958

Diluted

40,396,693

86,508,545

35,297,133

77,324,958

Net (loss)/income per ordinary share

Basic

(17.52)

0.05

0.01

(25.21)

(0.66)

(0.09)

Diluted

(17.52)

0.05

0.01

(25.21)

(0.66)

(0.09)

Non-GAAP adjustments to net (loss)/income per
ordinary share

Basic

1.36

(0.02)

(0.01)

2.81

0.38

0.05

Diluted

1.36

(0.02)

(0.01)

2.81

0.38

0.05

Adjusted net (loss)/income per ordinary share

Basic

(16.16)

0.03

0.00

(22.40)

(0.28)

(0.04)

Diluted

(16.16)

0.03

0.00

(22.40)

(0.28)

(0.04)

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SOURCE Cheche Group Inc.

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SCOTTSDALE, Ariz., Oct. 24, 2026 /PRNewswire/ — Axon (Nasdaq: AXON), the global leader in public safety technology, today announced Axon Body 5, its newest body-worn camera designed to bring more powerful intelligence, connectivity and real-time support directly to officers in the field.

For years, Axon body cameras have helped agencies capture critical evidence and create greater transparency. Body 5 is built to help officers during the call, with information, assistance and backup on the spot.

“Officers shouldn’t have to choose between getting information and watching the scene. With Axon Body 5, they don’t,” said Rick Smith, Axon Founder and CEO. “They capture a license or document with the camera, keep their hands free and eyes up, and get information faster than writing it down and calling it in by radio. An officer fully engaged with the person in front of them, not down at a notepad, is a safer officer and a better-served community.”

Axon Body 5: Built for the AI Era

Built from the ground up for the AI era, Axon Body 5 delivers 25x the AI processing power than earlier generation Axon body cameras, alongside advancements in connectivity, audio, video and battery life. Together, these upgrades give the camera the physical power to run smarter AI features — both today and as new AI tools are developed in the future — while also making it more dependable for officers to use every day.

For the first time, Axon is also introducing two versions of its latest flagship camera: Axon Body 5 and Axon Body 5 Pro.

Both models feature several key advancements, including:

25x more processing power for AI: A powerful new computing architecture creates the capacity to support current and future AI features directly on the body camera.Enhanced video: Improved video captures clearer evidence across challenging environments, including better low-light performance.Improved connectivity: Seamless connectivity in urban and remote environments – and more precise location capability – helps officers, cameras and remote support teams stay connected when timely information matters most.Longer battery life: 20% more battery life than the previous generation helps keep the camera ready and connected throughout an officer’s shift.

The Axon Body 5 Pro will continue to gain new AI capabilities as they become available, growing along with the AI Era Plan. Additionally, new hardware features include:

A near-focus camera: An additional dedicated camera lens lets officers scan driver’s licenses to check status and search for wants or warrants in seconds, without returning to the patrol vehicle, with relevant information sent to Axon Fusus to support real-time operations.Front-facing speakers: Four additional speakers project even more powerful audio toward the person an officer is speaking with, helping real-time translations from Axon Assistant carry more clearly over heavy traffic or crowd noise. Additional memory: Extra space lets the camera run several AI tools at once, helping officers stay better informed and work faster.

Bringing More of Axon’s AI Era Into the Field

Axon Body 5 helps officers get more out of the Axon AI Era Plan by bringing smart tools right to the scene. Axon’s portfolio already supports public safety professionals across a growing range of tasks. For example, Draft One helps officers turn body-camera audio into high-quality report drafts and Axon Assistant provides voice-based information access and real-time translation.

Increasingly, Axon is also bringing AI into real-time operations.

Axon Guardian is a new category of AI features within the AI Era Plan that was specifically created to work with an officer’s field-based devices – starting with body cameras and in-car cameras – to improve safety. Guardian is designed to flag potential risks as situations unfold and create alerts when additional attention may be needed. Two of the first features include:

Escalation Detection: When an Axon Body 4 or Axon Body 5 camera is activated and recording, Guardian has the ability to detect potential conflicts in real time and create an alert in Axon Fusus. A human reviews the livestream and decides if additional support or action is needed.Approach Alert: When active on Axon Fleet 3, Guardian can detect if the door of a stopped vehicle opens and alert the officer through the in-car display and their body-worn camera.

Combined, Axon Body 5 and the expanding AI Era portfolio demonstrate the importance of AI as a critical resource to assist public safety professionals before, during and after an incident — reducing administrative burden, improving situational awareness and helping protect more lives.

Innovating Responsibly

Axon’s Responsible Innovation framework guides the development of all of its products. Designed with this in mind, Axon Body 5 and Guardian prioritize human oversight and maintain agency control over data. As a key part of the responsible innovation process, Axon’s independent Ethics and Equity Advisory Council was created to help responsibly develop and deploy new technologies with transparency, while aligning with community expectations.

General availability dates for Axon Body 5 and Axon Guardian will be announced soon. Product features and capabilities vary by configuration. For more information on Axon’s current products and services: Axon Product Catalog – Axon.com.

About Axon
Axon (Nasdaq: AXON) is the global leader in public safety technology supporting state, local, federal and international public safety agencies with technology designed to Protect Life. Complementing its mission, Axon’s growing Enterprise market focuses on protecting critical infrastructure and frontline workers across multiple industries including corporate security, hospitality, retail and healthcare. Founder-led since 1993, Axon builds products with transparency and responsibility. From TASER energy devices to today’s connected network of hardware – including cameras, drones, and robotics – cloud software, sensors, and AI-tools, the Axon ecosystem helps seamlessly protect people and places when it matters most. To ensure these technologies align with community expectations, Axon’s independent Ethics & Equity Advisory Council guides the ethical, inclusive, and accountable design of its products and services. Learn more about the EEAC and Axon’s Responsible Innovation framework at Axon Responsibility.

Non-Axon trademarks are the property of their respective owners. Axon, TASER and the Delta Logo are trademarks of Axon Enterprise, Inc., some of which are registered in the US and other countries. For more information, visit www.axon.com/legal. All rights reserved.

Please visit https://investor.axon.com and https://www.axon.com/newsroom for more information.

Media Contact:
Kate MacKinnon
Vice President, Communications
press@axon.com

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SOURCE Axon

Technology

In HelloNation, Custom Fabrication Expert Mark Coyle Explains a Common Mistake in Custom Aluminum Design

Published

4 hours ago

October 24, 2026

The article explains why smart geometry, not thicker walls, creates stronger, more efficient aluminum components.

ROCHESTER, N.Y., Oct. 24, 2026 /PRNewswire/ — What early design choice causes many custom aluminum projects to become heavier, costlier, or harder to manufacture? That question is addressed in a HelloNation article featuring insights from Custom Fabrication Expert Mark Coyle of American Custom Metals, Inc. in Rochester, New York, that outlines how misunderstanding aluminum behavior leads designers to rely on thick walls instead of stronger geometry.

The article begins by explaining that many people assume thicker walls automatically make aluminum parts stronger. It notes that aluminum does not respond to wall thickness the way steel does. Instead, its performance is shaped by how the metal flows through the extrusion die. The article states that custom aluminum design is more effective when profiles use ribs, chambers, and flanges to create stiffness without adding unnecessary weight. This guidance helps readers understand why adding material often increases cost without improving strength.

The article also highlights that thicker walls change how aluminum moves during extrusion. When heavy areas fill more slowly, the metal cools unevenly and can develop stress that only appears later. The HelloNation piece explains that well-balanced geometry keeps extrusion smooth and predictable. This consistency makes it easier to maintain dimensional accuracy across long production runs. By focusing on geometry, custom aluminum design avoids the problems that come with slow extrusion speeds and uneven cooling.

Another insight in the article centers on how ribs and internal supports influence stability. It describes how a thin wall supported by a properly placed rib often performs better than a thick wall with no reinforcement. This happens because the rib helps distribute load, improve stiffness, and guide the aluminum as it cools. The article explains that this structural approach makes custom aluminum design more efficient and gives designers more control over how the final part behaves under pressure.

The article also shows why early collaboration between designer and fabricator prevents costly changes. It states that a fabricator familiar with extrusion can catch potential issues before a die is built. Small adjustments to corners or transitions can remove weak points or improve metal flow. The article notes that this teamwork keeps the design aligned with real-world production. By working together early, both sides reduce the risk of redesigning the die after the first test run.

Machining is another area where the article explains how wall thickness affects performance. Features such as deep pockets or sharp internal angles may require slow feed rates or special tooling. When walls are thicker than needed, those areas can become difficult to machine cleanly. The article states that thoughtful custom aluminum design makes machining more predictable. Small changes, such as adding radiused edges or sizing features to match standard tools, help shorten cycle times and prevent tool wear.

Thermal behavior receives detailed attention as well. The article explains that aluminum retains heat differently depending on the mass of each section. Thicker walls hold heat longer, which increases the chance of distortion during extrusion, machining, or finishing. When a design uses geometry to create strength, the material cools more evenly. This reduces warping and helps long profiles stay aligned. The article notes that stable cooling is important for components that require a precise fit and consistent shape throughout an entire production run.

Cost is also a key topic in the article. It states that heavier profiles increase material use, extrusion time, and tooling needs. A custom aluminum design that relies on geometry instead of mass lowers material consumption and keeps the fabrication process efficient. The article explains that lighter parts are easier to handle, ship, and assemble. This saves money across multiple stages of production and supports long-term manufacturing efficiency.

The article also notes that smart custom aluminum design creates profiles that behave predictably during extrusion and machining. Smooth transitions, balanced wall dimensions, and structural features help reduce the chance of distortion or dimensional drift. These elements also lower scrap rates and support reliable performance. By using geometry instead of excess material, designers build parts that maintain strength without compromising manufacturability.

As the article concludes, it emphasizes that avoiding thick walls is one of the best ways to improve performance and lower cost. It states that the most dependable custom aluminum components come from designs that use structural features to strengthen the profile. When designers understand how aluminum behaves at each stage of extrusion and machining, they create parts that are strong, efficient, and consistent from batch to batch. This approach turns custom aluminum design into a predictable process rather than a series of uncertain adjustments.

A Common Mistake in Custom Aluminum Design features insights from Mark Coyle, Custom Fabrication Expert of Rochester, NY, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

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Technology

World Young Scientist Summit 2026 Opens in Wenzhou, Zhejiang

Published

5 hours ago

October 24, 2026

WENZHOU, China, Oct. 24, 2026 /PRNewswire/ — This is a report by China Daily:

On October 24, the World Young Scientist Summit 2026 opened in Wenzhou, Zhejiang. The event is hosted by the China Association for Science and Technology (CAST), the Zhejiang Provincial People’s Government, and the World Association of Young Scientists. Nearly 800 representatives, including scientists, educators, and entrepreneurs from more than 60 countries and regions, are attending the summit.

He Junke, Vice President of CAST in charge of daily work and First Secretary of its Secretariat; Lian Yimin, Chairman and Party Group Secretary of the Zhejiang Provincial Committee of the Chinese People’s Political Consultative Conference; Marcelo Knobel, Executive Director of The World Academy of Sciences; and Zhang Zhenfeng, Member of the Standing Committee of the CPC Zhejiang Provincial Committee and Secretary of the CPC Wenzhou Municipal Committee, attended the summit and delivered remarks. Yao Gaoyuan, Vice Governor of the Zhejiang Provincial People’s Government, presided over the first segment of the plenary session.

With the theme “Gathering Talents Worldwide to Create a Better Future,” the summit’s annual agenda is “Global Youth Action in the AI Era: Building a Sustainable Future.” It aims to draw on the insights of young people around the world, deepen international sci-tech cooperation, and jointly address questions about young people, science, the world and the future.

Efim Zelmanov, Fields Medalist and Foreign Member of the Chinese Academy of Sciences; Chen Yunji, Deputy Director of the Institute of Computing Technology, CAS, and Director of the National Key Laboratory of Processor Chips; Mary Garson, President of the International Union of Pure and Applied Chemistry; and Lu Chaoyang, Member of the Standing Committee of CAST, Executive Dean of the Shanghai Institute of Advanced Study, University of Science and Technology of China, and Chairman of the Council of the World Association of Young Scientists, delivered keynote speeches respectively on education reform in the AI era, AI and processor chips, young women scientists’ participation in science, and quantum computing. They explored new opportunities for scientific research, talent cultivation, and international cooperation in the AI era.

This year’s summit placed greater emphasis on the growth needs of young scientists, with young talents under the age of 45 accounting for 88 percent of participants. It aimed to build a cluster of international journals, bring together young scientific talent, facilitate a batch of international collaborative projects and advance the application and commercialization of scientific and technological achievements. The summit released the Report on the Distribution and Mobility of Young Scientists in the Field of Embodied Intelligence, launched the World Young Scientist Summit Partner Journal Program and the 2026 World Young Scientist Innovation and Entrepreneurship Growth Support Program. It also published the “Young Scientist Pioneers 2035” list and announced the 2026 Sustainable Development Young Scientist Award. The awards were presented to four Chinese and foreign scientists.

Chen Tianrun, Founder of Hangzhou Moxin Technology Co., Ltd.; Yuan Yang, Assistant to the Dean of the Institute for Interdisciplinary Information Sciences at Tsinghua University; and two of the 2026 Sustainable Development Young Scientist Award winners, César de la Fuente and Nicola Segata, among other Chinese and foreign young scientist representatives, spoke at the flash-talk session to share their research practices and reflections.

In addition, the conference focused on fields such as future manufacturing, quantum information, embodied intelligence, brain-computer intelligence, environmental science, deep-sea resources, and life and health, and held 12 parallel forums. It also included the “Gravitation π” Future Technology and Concept Products Exhibition and Exchange, local thematic side events, and sci-tech and humanities study visits, further building an interdisciplinary, cross-regional and cross-sector platform for youth sci-tech exchange and cooperation.

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SOURCE China Daily