Connect with us

Technology

VOXX International Announces Filing of Quarterly Report on Form 10-Q and Results for Fiscal 2025 Third Quarter; Company also Announces Merger Regulatory Approvals

Published

1 year ago

on

ORLANDO, Fla., Feb. 7, 2025 /PRNewswire/ — VOXX International Corporation (NASDAQ: VOXX) (“VOXX” or the “Company”), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, as well as strategic joint ventures including biometrics, today announced that it has filed its Quarterly Report (the “Quarterly Report) on Form 10-Q for the period ended November 30, 2024 (the “Form 10-Q”) with the Securities and Exchange Commission (“SEC”).

As previously reported, the Company was unable to timely file the Form 10-Q for its 2025 fiscal third quarter. The delay was primarily related to the Company’s entry into an Agreement and Plan of Merger with Gentex Corporation (“Gentex”) on December 17, 2025, which caused the Company, in conjunction with its triggering events review, to test its goodwill, other intangible assets and other long-lived assets for impairment, thereby delaying its ability to timely file. On January 28, 2025, the Company received a letter  from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) stating that because the Company had not yet filed the Form 10-Q, the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the SEC.  Based upon today’s filing of the Form 10-Q, the Company expects to receive notification from Nasdaq that it has regained compliance with Rule 5250(c)(1). 

Fiscal 2025 and Fiscal 2024 Third Quarter Comparisons

As contained in the  Form 10-Q, the Company’s Fiscal 2025 third quarter compared with the Fiscal 2024 third quarter as follows:

Total net sales of $105.2 million compared to $135.3 million, down $30.1 million or 22.2%, with declines in both the Automotive Electronics and Consumer Electronics segments as a result of economic, retail and OEM manufacturing conditions, along with asset sales during Fiscal 2025.Gross margin of 21.2% compared to 26.9%, down 570 basis points, driven by $7.0 million in inventory write-downs both in the Automotive Electronics and Consumer Electronics segments.Total operating expenses of $76.6 million, up $42.5 million; principally driven by non-cash charges of $44.3 million (including goodwill impairment charges of $28.2 million and intangible asset impairment charges of $16.1 million). Excluding impairment charges, total operating expenses of $32.3 million declined by $1.8 million, an improvement of 5.2% from the prior fiscal year quarter.Net loss attributable to VOXX International Corporation of $44.0 million compared to net income attributable to VOXX International Corporation of $1.9 million.Earnings before Interest, Taxes, Depreciation and Amortization (“EBITDA”) loss of $40.8 million compared to EBITDA of $6.5 million. Adjusted EBITDA loss of $4.7 million compared to Adjusted EBITDA of $8.0 million.

Fiscal 2025 and Fiscal 2024 Nine-Month Comparisons

As contained in the Company’s Form 10-Q, the Company’s nine-month period ended November 30, 2025 compared to the corresponding prior year period as follows:

Total net sales of $289.3 million compared to $360.8 million, down $71.5 million or 19.8%, with declines both in the Automotive Electronics and Consumer Electronics segments.Gross margin of 24.3% compared to 25.6%, down 130 basis points, including the impact of inventory write-downs taken in Fiscal 2025 third quarter.Total operating expenses of $140.9 million, up $30.7 million, principally due to non-cash charges of $44.3 million in the Fiscal 2025 third quarter. Excluding impairment charges, total operating expenses of $96.6 million declined by $13.6 million, an improvement of 12.3%.Total other income, net of $13.1 million compared to total other expense, net of $5.9 million.Net loss attributable to VOXX International Corporation of $50.8 million compared to net loss attributable to VOXX International Corporation of $19.9 million.Earnings before Interest, Taxes, Depreciation and Amortization (“EBITDA”) loss of $37.5 million compared to EBITDA loss of $6.5 million. Adjusted EBITDA loss of $10.4 million compared to Adjusted EBITDA of $3.0 million.

Selected Balance Sheet Data
As of November 30, 2024, the Company had cash and cash equivalents of $6.3 million as compared to cash and cash equivalents of $11.0 million as of February 29, 2024. Total debt as of November 30, 2024 was $18.8 million, which consists of $15.0 million outstanding on the Company’s Domestic Credit Facility and $3.8 million outstanding on the shareholder loan payable to Sharp Corporation. Total debt as of February 29, 2024 was $73.3 million. Total long-term debt, net of debt issuance costs was $14.5 million as of November 30, 2024 as compared to $71.9 million as of February 29, 2024, an improvement of $57.4 million.

Given the Company’s proposed merger transaction with Gentex, the Company is not hosting a conference call to discuss its Fiscal 2025 third quarter financial results.

Proposed Gentex Transaction – Anti-Trust Clearance
The Company today announced that the waiting period with respect to the proposed merger transaction with Gentex under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), expired at 11:59 p.m. Eastern Time on February 3, 2025. Additionally, on January 27, 2025, a letter was received from the German Federal Cartel Office advising that the proposed merger does not meet the prohibition conditions under the German Competition Act, and the merger may be implemented. The expiration of the HSR Act waiting period and clearance under the German Competition Act satisfy certain conditions to the closing of the merger. The proposed merger remains subject to other customary closing conditions, including approval by the Company’s stockholders and the absence of any legal prohibitions against the merger by a governmental authority of competent jurisdiction.

Non-GAAP Measures

EBITDA and Adjusted EBITDA are not financial measures recognized by GAAP. EBITDA represents net loss attributable to VOXX International Corporation and Subsidiaries, computed in accordance with GAAP, before interest expense and bank charges, taxes, and depreciation and amortization. Adjusted EBITDA represents EBITDA adjusted for stock-based compensation expense, gains on the sale of certain assets and businesses, foreign currency gains and losses, restructuring expenses, goodwill and intangible asset impairment charges, certain non-routine and non-recurring fees, and awards. Depreciation, amortization, stock-based compensation, foreign currency gains and losses, and goodwill and intangible asset impairment charges are non-cash items.

We present EBITDA and Adjusted EBITDA in our Form 10-Q because we consider them to be useful and appropriate supplemental measures of our performance. Adjusted EBITDA helps us to evaluate our performance without the effects of certain GAAP calculations that may not have a direct cash impact on our current operating performance. In addition, the exclusion of certain costs or gains relating to certain events allows for a more meaningful comparison of our results from period-to-period. These non-GAAP measures, as we define them, are not necessarily comparable to similarly entitled measures of other companies and may not be an appropriate measure for performance relative to other companies. EBITDA and Adjusted EBITDA should not be assessed in isolation from, are not intended to represent, and should not be considered to be more meaningful measures than, or alternatives to, measures of operating performance as determined in accordance with GAAP.

About VOXX

VOXX International (NASDAQ: VOXX) has grown into a worldwide leader in the Automotive Electronics and Consumer Electronics industries. Over the past several decades, VOXX has built market-leading positions in in-vehicle entertainment and automotive security, as well as in a number of premium audio market segments, and more. VOXX is a global company, with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and many of the world’s leading automotive manufacturers. For additional information, please visit our website at www.voxxintl.com.

No Offer or Solicitation
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company or the solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made in the United States absent registration under the Securities Act of 1933, as amended, or pursuant to an exemption from, or in a transaction not subject to, such registration requirements.

Additional Information Regarding the Merger and Where to Find It
This press release relates to the proposed merger involving the Company, Gentex and Instrument Merger Sub, Inc., a wholly-owned subsidiary of Gentex, whereby Merger Sub shall be merged with and into the Company (the “proposed merger”), with the Company as the surviving corporation. The proposed merger will be submitted to the stockholders of the Company for their consideration at a special meeting of the stockholders. In connection therewith, the Company intends to file relevant materials with the U.S. Securities and Exchange Commission (the “SEC”), including a definitive proxy statement on Schedule 14A (the “definitive proxy statement”) together with a proxy card, which will be mailed or otherwise disseminated to the Company’s stockholders when such documents become available, together with a proxy card.  The Company, Gentex and Merger Sub jointly filed a Schedule 13E-3 (the “Schedule 13E-3”) with the SEC on January 27, 2025, which is subject to update.  The Company and Gentex may also file other relevant documents with the SEC regarding the proposed merger. INVESTORS AND STOCKHOLDERS ARE URGED, PRIOR TO MAKING ANY INVESTMENT OR VOTING DECISION, TO READ THE DEFINITIVE PROXY STATEMENT, SCHEDULE 13E-3, AS MAY BE AMENDED, AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. Stockholders may obtain free copies of the definitive proxy statement and Schedule 13E-3, any amendments or supplements thereto, and other documents containing important information about the Company, Gentex and Merger Sub and the proposed merger, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. Free copies of the documents filed with the SEC can also be obtained on the Company’s website at www.voxintl.com or by contacting the Company’s investor relations at 917-887-8434 or gwiener@gwcco.com.

This press release may be deemed to be solicitation material in respect of the proposed merger contemplated by the Merger Agreement.

Certain Information Regarding Participants in the Solicitation
The Company, Gentex and certain of their directors, executive officers and employees may, under the rules of the SEC, be deemed to be participants in the solicitation of proxies in connection with the proposed merger. Information regarding the directors and executive officers of the Company, Gentex and Merger Sub is contained in the Company’s preliminary proxy statement related to the proposed Merger, as filed with the SEC on January 27, 2025, and the Schedule 13E-3 as filed with the SEC on January 27, 2025 by the Company, Gentex and Merger Sub. A description of the direct or indirect interests, by security holdings or otherwise of the Company’s directors and executive officers and Gentex are also included in the preliminary proxy statement, Schedule 13E-3 and other relevant documents filed with the SEC regarding the proposed merger.  Free copies of these materials may be obtained as described in the preceding section.

Safe Harbor Statement
Except for historical information contained herein, statements made in this release constitute forward-looking statements and thus may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statements. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements: (i) the possibility that Nasdaq will not consider the Company in compliance with Listing Rule 5250(c)(1) irrespective of the Company’s filing of the Form 10-Q, (ii) the risk that the proposed merger may not be completed in a timely manner or at all, which may adversely affect the Company’s business and the price of its shares of Class A Common Stock, (iii) other factors described under Risk Factors in our most recent Form 10-K and other filings made by the Company from time to time with the SEC, as such descriptions may be updated or amended in any future reports the Company files with the SEC.

Investor Relations Contact:
Glenn Wiener, President & CEO
GW Communications (for VOXX)
Email: gwiener@gwcco.com

– Tables to Follow –

 

VOXX International Corporation and Subsidiaries Consolidated Balance Sheets

(In thousands, except share and per share data)

November 30,
2024

February 29,
2024

(unaudited)

Assets

Current assets:

Cash and cash equivalents

$

6,349

$

10,986

Accounts receivable, net of allowances of $1,921 and $3,041 at November 30, 2024 and February 29, 2024,

respectively

79,686

71,066

Inventory

96,416

128,471

Receivables from vendors

129

1,192

Due from Established

100

–

Due from GalvanEyes LLC, current

–

1,238

Prepaid expenses and other current assets

14,533

20,820

Income tax receivable

4,933

2,095

Total current assets

202,146

235,868

Investment securities

414

828

Equity investments

22,428

21,380

Property, plant and equipment, net

32,937

45,070

Operating lease, right of use assets

5,067

2,577

Goodwill

35,385

63,931

Intangible assets, net

38,483

68,766

Due from GalvanEyes LLC, less current portion

–

1,340

Deferred income tax assets

58

1,452

Other assets

1,908

2,794

Total assets

$

338,826

$

444,006

Liabilities, Redeemable Equity, Redeemable Non-Controlling Interest, and Stockholders’ Equity

Current liabilities:

 Accounts payable

$

40,961

$

35,076

 Accrued expenses and other current liabilities

38,815

38,238

 Income taxes payable

1,510

1,123

 Accrued sales incentives

21,069

18,236

 Contract liabilities, current

3,043

3,810

 Current portion of long-term debt

3,837

500

Total current liabilities

109,235

96,983

Long-term debt, net of debt issuance costs

14,478

71,881

Finance lease liabilities, less current portion

399

644

Operating lease liabilities, less current portion

3,728

1,884

Deferred compensation

414

828

Deferred income tax liabilities

2,470

2,690

Other tax liabilities

719

809

Prepaid ownership interest in EyeLock LLC due to GalvanEyes LLC

–

9,817

Other long-term liabilities

2,828

2,170

Total liabilities

134,271

187,706

Commitments and contingencies

Redeemable equity: Class A, $.01 par value; 604,072 and 577,581 shares at November 30, 2024 and

February 29, 2024, respectively 

4,218

4,110

Redeemable non-controlling interest

(9,019)

(3,203)

Stockholders’ equity:

  Preferred stock:

  No shares issued or outstanding

–

–

  Common stock:

  Class A, $.01 par value, 60,000,000 shares authorized, 24,000,886 and 23,985,603 shares issued

  and 19,649,703 and 19,698,562 shares outstanding at November 30, 2024 and February 29, 2024,

  respectively

240

240

  Class B Convertible, $.01 par value, 10,000,000 shares authorized, 2,260,954 shares issued and

  outstanding at both November 30, 2024 and February 29, 2024

22

22

  Paid-in capital

296,137

293,272

  Retained earnings

7,449

58,272

  Accumulated other comprehensive loss

(17,760)

(17,366)

  Less: Treasury stock, at cost, 4,351,183 and 4,287,041 shares of Class A Common Stock at November

  30, 2024 and February 29, 2024, respectively

(39,821)

(39,573)

Total VOXX International Corporation stockholders’ equity

246,267

294,867

  Non-controlling interest

(36,911)

(39,474)

Total stockholders’ equity

209,356

255,393

Total liabilities, redeemable equity, redeemable non-controlling interest, and stockholders’ equity

$

338,826

$

444,006

 

VOXX International Corporation and Subsidiaries

Unaudited Consolidated Statements of Operations and Comprehensive (Loss) Income

(In thousands, except share and per share data)

Three months ended
November 30,

Nine months ended
November 30,

2024

2023

2024

2023

Net sales

$

105,175

$

135,260

$

289,324

$

360,828

Cost of sales

82,830

98,918

218,878

268,281

Gross profit

22,345

36,342

70,446

92,547

Operating expenses:

Selling

7,638

10,967

25,076

32,154

General and administrative

16,294

15,944

48,528

52,621

Engineering and technical support

8,316

7,063

20,660

23,257

Goodwill impairment charges

28,171

–

28,171

–

Intangible asset impairment charges

16,093

–

16,093

–

Restructuring expenses

49

101

2,378

2,168

Total operating expenses

76,561

34,075

140,906

110,200

Operating (loss) income

(54,216)

2,267

(70,460)

(17,653)

Other income (expense):

Interest and bank charges

(1,355)

(1,892)

(5,466)

(5,011)

Equity in income of equity investees

382

1,101

933

3,958

Gain on sale of business

–

–

8,300

–

Gain on sale of assets

7,299

–

9,453

–

Final arbitration award

–

(752)

–

(3,350)

Other, net

(2,084)

156

(113)

(1,497)

Total other income (expense), net

4,242

(1,387)

13,107

(5,900)

(Loss) Income before income taxes

(49,974)

880

(57,353)

(23,553)

Income tax (benefit) expense

(513)

97

493

(54)

Net (loss) income

(49,461)

783

(57,846)

(23,499)

Less: net loss attributable to non-controlling interest

(5,495)

(1,129)

(7,023)

(3,609)

  Net (loss) income attributable to VOXX International Corporation and Subsidiaries

$

(43,966)

$

1,912

$

(50,823)

$

(19,890)

Other comprehensive (loss) income:

 Foreign currency translation adjustments

(1,037)

279

(779)

1,337

 Derivatives designated for hedging

477

(29)

374

(55)

 Pension plan adjustments

19

(1)

11

(7)

 Other comprehensive (loss) income, net of tax

(541)

249

(394)

1,275

Comprehensive (loss) income attributable to VOXX International Corporation and Subsidiaries

$

(44,507)

$

2,161

$

(51,217)

$

(18,615)

(Loss) Income per share – basic: Attributable to VOXX International Corporation and Subsidiaries

$

(1.90)

$

0.08

$

(2.20)

$

(0.85)

(Loss) Income per share – diluted: Attributable to VOXX International Corporation and Subsidiaries

$

(1.90)

$

0.08

$

(2.20)

$

(0.85)

Weighted-average common shares outstanding (basic)

23,160,541

23,270,834

23,141,960

23,510,578

Weighted-average common shares outstanding (diluted)

23,160,541

23,467,022

23,141,960

23,510,578

 

Reconciliation of GAAP Net (Loss) Income Attributable to

VOXX International Corporation to EBITDA and Adjusted EBITDA

Three months ended
November 30,

Nine months ended
November 30,

2024

2023

2024

2023

Net (loss) income attributable to VOXX International Corporation and Subsidiaries

$

(43,966)

$

1,912

$

(50,823)

$

(19,890)

Adjustments:

Interest expense and bank charges (1)

1,144

1,688

4,825

4,405

Depreciation and amortization (1)

2,569

2,808

8,024

9,003

Income tax (benefit) expense

(513)

97

493

(54)

EBITDA

(40,766)

6,505

(37,481)

(6,536)

Stock-based compensation

262

177

820

643

Gain on sale of tradename

–

–

–

(450)

Gain on sale of business

–

–

(8,300)

–

Gain on sale of assets

(7,299)

–

(9,453)

–

Foreign currency losses (1)

2,413

144

1,058

2,320

Restructuring expenses

49

101

2,378

2,168

Goodwill impairment charges (1)

24,985

–

24,985

–

Intangible asset impairment charges (1)

14,411

–

14,411

–

Non-recurring ERP implementation costs

–

–

55

–

Gain on termination of interest rate swap

(47)

–

(47)

–

Non-recurring due diligence fees

1,112

–

1,112

–

Non-routine legal fees

191

318

66

1,549

Final arbitration award

–

752

–

3,350

Adjusted EBITDA

$

(4,689)

$

7,997

$

(10,396)

$

3,044

(1)

For purposes of calculating Adjusted EBITDA for the Company, interest expense and bank charges, depreciation and amortization, foreign currency gains and losses, and goodwill and intangible asset impairment charges have been adjusted in order to exclude the non-controlling interest portion of these expenses attributable to EyeLock LLC and Onkyo Technology KK, as appropriate.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/voxx-international-announces-filing-of-quarterly-report-on-form-10-q-and-results-for-fiscal-2025-third-quarter-company-also-announces-merger-regulatory-approvals-302371520.html

SOURCE VOXX International Corporation

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Yiren Digital Accelerates Operating Efficiency Through AI Agent Deployment

Published

46 minutes ago

on

July 23, 2026

By

Broader AI adoption improves productivity across asset recovery and enterprise operations

BEIJING, July 23, 2026 /PRNewswire/ — Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets, today announced measurable operating efficiency improvements as it continues to deploy AI agents across core enterprise workflows. Broader AI adoption is reducing manual intervention, increasing workforce productivity and creating greater operating leverage by automating high-volume processes across multiple business functions.

These deployments are a key component of Yiren Digital’s “All-in-AI” strategy and its broader transition from AI-assisted productivity toward agent-driven execution. By embedding AI agents into core workflows, the Company is creating reusable operating capabilities that can be deployed across its businesses, supporting greater efficiency and reducing the cost of extending automation into new functions.

“Our objective is not simply to automate individual tasks, but to fundamentally improve how work is performed across the enterprise,” said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. “As AI agents take on more of our high-volume, demanding workflows, the productivity gains are becoming a structural part of how we run the business, not a one-time efficiency project. We will continue to deepen AI integration across our existing businesses while extending reusable capabilities into additional verticals.”

The AI deployments are supported by the Company’s proprietary enterprise AI architecture, including MagiCube 2.0, its upgraded multi-agent platform. The platform provides common infrastructure for agents deployed across marketing, customer service, capital operations, risk management, compliance and research and development, with more than 10 reusable foundational capabilities, supporting enterprise-wide execution.

Measurable Operating Impact

Lower manual intervention: The human handling rate in asset-recovery operations decreased from 45.0% to 24.9%, representing a 20.1-percentage-point decline, an approximately 44.6% relative reduction in manual intervention.

Higher staff productivity: The number of service tickets handled per asset-recovery staff member within the applicable Month 1 workflow increased from 358 to 525, an improvement of approximately 47%.

Expanded agent adoption: AI agents accounted for 81% of service tickets within eligible Day 1 asset-recovery workflows in 2025, up from 50% in 2024. The Company also deployed AI agents selectively in later-stage workflows, accounting for 20% of eligible service tickets at Day 4, 14% at Day 16 and 20% at Month 2. Each percentage is calculated separately for the relevant stage and should not be interpreted as a sequential adoption trend.

Enterprise-wide reuse: MagiCube 2.0 supports agent deployment across six enterprise functions, allowing the Company to apply common AI capabilities to a broader range of regulated and high-volume workflows.

Enterprise-scale AI execution: The Fengchao AI voice agent processes approximately 1,500 hours of real-time speech-to-text activity each day. The LingShu intelligent marketing platform executes more than 1,700 tasks daily and generates individualized communication content in an average of 0.6 seconds.

Building Enterprise Operating Leverage Through AI

As AI deployment expands across the enterprise, Yiren Digital is increasingly shifting repetitive, high-volume tasks from human-assisted processes toward agent-driven execution. By combining AI agents with centralized orchestration and governance, the Company is improving operating consistency, strengthening workforce productivity and creating reusable capabilities that increase operating leverage as AI is deployed across additional business functions.

Yiren Digital plans to continue expanding agent-driven workflows across its credit and insurance operations, as part of its ongoing All-in-AI strategy, while strengthening the shared architecture and governance that support enterprise-wide AI deployment. These capabilities are designed to scale across multiple use cases and provide a foundation for the Company’s broader expansion into AI application-layer opportunities, including AI entertainment and AI-assisted language learning.

About Yiren Digital

Yiren Digital Ltd. is a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets. The Company leverages advanced artificial intelligence and emerging technologies to enhance customer experience, optimize capital efficiency, and expand financial inclusion. Following the regulatory filing of its in-house developed Large Language Model Zhiyu, and the significant enhancement of its MagiCube Agent platform, Yiren Digital is establishing a new growth engine to accelerate its evolution into an AI-native, multi-industry operating platform extending beyond traditional financial services. For more information, please visit https://ir.yiren.com.

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 “aim,” “anticipate,” “believe,” “estimate,” “expect,” “hope,” “going forward,” “intend,” “ought to,” “plan,” “project,” “potential,” “seek,” “may,” “might,” “can,” “could,” “will,” “would,” “shall,” “should,” “is likely to” and the negative form of these words and other similar expressions. This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident,” and similar expressions. Forward-looking statements are based on management’s current expectations, assumptions, and assessments of current market and operating conditions. These statements involve inherent risks, uncertainties, and other factors, many of which are outside the control of the Company, and which could cause actual results to differ materially from those expressed or implied in such statements. Actual results may differ materially from those expressed or implied in forward-looking statements due to a variety of factors and other risks described in the Company’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company undertakes no, and expressly disclaims any, obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law.

View original content:https://www.prnewswire.com/news-releases/yiren-digital-accelerates-operating-efficiency-through-ai-agent-deployment-302833201.html

SOURCE Yiren Digital Ltd.

Continue Reading

Technology

Infinium Edge Launches EdgeSites™, a New Infrastructure Model for Deploying AI Compute at Existing Commercial and Industrial Facilities

Published

46 minutes ago

on

July 23, 2026

By

EdgeSites delivers operational AI infrastructure in existing powered buildings — factory-built data center modules, waterless cooling, and ready in months without new construction or grid interconnection required.

SACRAMENTO, Calif., July 23, 2026 /PRNewswire/ — Infinium Edge™ today announced Infinium EdgeSites™, a development program that utilizes existing commercial and industrial facilities to deploy operational AI compute infrastructure. Built around Infinium Edge’s proprietary Edge Thermal Vectoring™ immersion cooling platform, EdgeSites enables high-density GPU deployments in existing buildings that were never designed as data centers — without new construction, without cooling water infrastructure, and without the multi-year grid interconnection timelines that constrain conventional large-scale data center development.

More than 20 million commercial and industrial electricity customers in the US are served by electrical infrastructure sized to peak demand – which industry research shows are utilized at only 40-60% on average. That unused headroom, capacity already contracted, energized, and sitting behind the meter, can support high-density AI compute without adding new load to the grid or waiting on a new interconnection.

At the center of the program is the Vector ONE™ — Edge’s factory-built, self-contained immersion cooling system designed to house 1 MW of AI compute capacity. Vector ONE units are engineered for deployment in standard commercial and industrial buildings, either indoors or outdoors, arriving pre-integrated, fully commissioned and require no municipal water connection. Installations are modular and scalable: additional units can be commissioned as site power and demand allow, without rebuilding the underlying infrastructure and occupy up to 70% less floor space than air-cooled equivalents.

Built for the Shift to Inference

As inference moves to displace training as the dominant AI workload, the growth opportunity is shifting towards small, distributed data centers that can be deployed quickly and sited where demand originates. Conventional data center developments are under compounding pressure from long utility interconnection queues, sometimes lasting years, pressure around water use, and general community and regulatory opposition enacting restrictions. Community opposition and regulatory friction delayed or blocked an estimated $156 billion in planned U.S. data center capacity in 2025 alone.

EdgeSites is purpose-built for the structural shift to inference and addresses key issues stalling conventional data center developments today. Each Vector ONE unit delivers 1 MW of inference-ready capacity inside an existing building, in a market that already has established electrical infrastructure, in a timeline measured in months rather than years. Multiple units can be used in tandem to deploy up to 10 MW of capacity at a single site.  The program converts the distributed inventory of underutilized industrial or commercial electrical capacity in the United States into a nationally scaled inference network. Vector ONE’s dry-cooler loop consumes no municipal water, making EdgeSites viable in markets where evaporative cooling has been restricted or banned.

“The data center industry has been answering an infrastructure shortage with a construction playbook — build new facilities, secure new grid connections, wait years for capacity to come online,” said Robert Schuetzle, CEO of Infinium. “That model cannot keep pace with AI deployment timelines. Infinium EdgeSites operate around different premises: the power already exists, the buildings already exist, and the technology now exists to put them to work. We are making operational what the industry has been treating as stranded.”

Deploying EdgeSites

As demand for AI compute continues to outpace available infrastructure and focuses on distributed inference needs, Infinium Edge is expanding the EdgeSites network with qualified host locations and compute partners.

Commercial and industrial property owners of industrial sites, distribution centers, warehouses, or large commercial properties with available electrical capacity benefit from receiving lease income from infrastructure they already own or control. Infinium Edge manages all aspects of site development and operations for installing and deploying the Vector ONE system. No capital investment or operational responsibility is required from the host.

AI companies, enterprises, and compute operators requiring infrastructure on compressed deployment timelines can access high-density, edge-proximate GPU capacity through a straightforward capacity agreement, priced by the kilowatt-month, with backup power included in the capacity fee. There is no construction to manage, no permitting process to navigate, and no cooling infrastructure to operate or maintain.

Infinium Edge manages the full program from development and installation to operation and monitoring— simplifying development and data center management for AI companies and enterprises.

Reach out to learn more and partner in EdgeSites deployments.

Inquiries: www.infinium.ai/edgesites

About Infinium Edge™
Infinium Edge™ is the advanced AI data center infrastructure platform from Infinium, delivering high-density, sustainable compute through proprietary single-phase immersion cooling technology. Infinium Edge is the only North American producer of Fischer-Tropsch immersion fluids and offers a full-stack platform — including Edge Thermal Vectoring™ platform, Vector ONE™ modular AI Factory units, ETV100 immersion fluids, and integrated monitoring systems — engineered for the thermal and operational demands of AI and high-performance computing at scale. For more information, visit www.infinium.ai.

View original content to download multimedia:https://www.prnewswire.com/news-releases/infinium-edge-launches-edgesites-a-new-infrastructure-model-for-deploying-ai-compute-at-existing-commercial-and-industrial-facilities-302832792.html

SOURCE Infinium

Continue Reading

Technology

ChipMOS SCHEDULES SECOND QUARTER 2026 FINANCIAL RESULTS SEMIANNUAL CONFERENCE CALL

Published

46 minutes ago

on

July 23, 2026

By

HSINCHU, July 23, 2026 /PRNewswire-FirstCall/ — ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (“OSAT”), today announced that it will report second quarter 2026 results and host a semiannual conference call after the close of trading on the Taiwan Stock Exchange on Tuesday, August 11, 2026.

Investors and analysts are encouraged to participate in the semiannual conference call using the dial-in phone number noted below. A webcast and replay will be available on the Company’s website.

Date: Tuesday, August 11, 2026
Time: 3:00PM Taiwan (3:00AM New York)
Dial-In: +886-2-3396 1191
Password: 1637011 #

Semiannual Conference Call Webcast and Replay: https://www.chipmos.com/chinese/ir/info2.aspx
Replay: Starts Approximately 2 hours after the live call ends

Language: Mandarin

Note: A transcript will be provided on the Company’s website in English following the semiannual conference call to help ensure transparency, and to facilitate a better understanding of the Company’s financial results and operating environment.

About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS) (www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS is known for its track record of excellence and history of innovation. The Company provides end-to-end assembly and test services to leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries serving virtually all end markets worldwide.

Forward-Looking Statements:
This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategies, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding current macroeconomic conditions, including the impacts of high inflation, foreign exchange rates and risk of recession, on demand for our products, consumer confidence and financial markets generally; changes in trade regulations, policies, and agreements and the imposition of tariffs that affect our products or operations, including potential new tariffs that may be imposed and our ability to mitigate with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, based on a number of important factors and risks, which are more specifically identified in the Company’s most recent U.S. Securities and Exchange Commission (the “SEC”) filings. Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the SEC and in its other filings with the SEC.

Contacts:

In Taiwan

Jesse Huang

ChipMOS TECHNOLOGIES INC.

+886-6-5052388 ext. 7715

IR@chipmos.com

In the U.S.

David Pasquale

Global IR Partners

+1-914-337-8801

dpasquale@globalirpartners.com

 

View original content:https://www.prnewswire.com/news-releases/chipmos-schedules-second-quarter-2026-financial-results-semiannual-conference-call-302831885.html

SOURCE ChipMOS TECHNOLOGIES INC.

Continue Reading

Trending