Technology
DeriW Testnet Launch Sets New Standards in Decentralized Derivatives Trading
Published
2 years agoon
By
HONG KONG, March 13, 2025 /PRNewswire/ — DeriW, the world’s first zero-gas-fee decentralized perpetual exchange operated by CoinW, has officially launched its public testnet, marking a pivotal step toward a new era of DeFi derivatives trading. This testnet isn’t a generic trial run – it’s a full-featured preview of DeriW’s high-performance, user-centric platform, designed to demonstrate concrete improvements in usability, speed, and security. Early users and developers can now experience lightning-fast trades, up to 100x leverage, and robust security measures in a realistic environment as DeriW prepares to challenge industry incumbents.
A Closer Look at the Testnet: Usability, Performance & Security
DeriW’s testnet is engineered to feel like a production-ready exchange. Usability is key: traders can quickly connect their self-custody wallets and begin trading cryptocurrencies like Bitcoin and Ethereum with up to 100x leverage and a low 0.02% transaction fee. The platform offers multiple order types (market, limit, take-profit, stop-loss) and a diverse selection of tokens, from major assets to emerging projects. With its zero gas fee model, DeriW eliminates blockchain transaction costs, enabling rapid order placement and frictionless trading—comparable to centralized exchanges.
On the performance front, the DeriW testnet showcases the platform’s cutting-edge infrastructure. Built on the Arbitrum Orbit Layer 3 network (DeriW Chain), it leverages optimistic rollup technology and a custom WASM/Geth-based architecture. In practical terms, this translates to extremely high throughput and low latency. With a capacity of up to 80,000 transactions per second, testnet traders can execute orders smoothly with minimal latency, ensuring the platform stays responsive even during intense trading activity.
Security measures are woven deeply into the testnet’s design, reflecting DeriW’s priority on protecting users. By building on Arbitrum’s L3, DeriW inherits Ethereum’s battle-tested security properties and decentralization while adding its own enhancements. All trades and collateral remain on-chain under users’ self-custody, eliminating the custodial risks found in centralized exchanges. To further harden the platform, DeriW launched a comprehensive bug bounty program in tandem with the testnet. Security researchers and users are incentivized with bounties ranging from 100 to 100,000 $DER tokens for identifying vulnerabilities. Additionally, the testnet operates with a closed-fund liquidity mechanism and an automatic risk recalibration system that ensure stability even under extreme market conditions. These concrete measures give testnet participants confidence that the platform’s performance comes without compromising safety.
How DeriW Stacks Up
In an increasingly competitive DeFi derivatives arena, DeriW’s testnet is already demonstrating unique advantages over other leading platforms’ test networks:
Gas Fees & Trading Costs: DeriW distinguishes itself with its zero gas fee model. Every trade on DeriW’s testnet is executed without on-chain transaction fees, which is a stark contrast to many competitors. DeriW’s approach of truly on-chain, gas-free trading gives it an edge in user experience – traders get the convenience of a CEX-like feel without sacrificing on-chain transparency.
Performance Throughput: When it comes to raw speed, DeriW sets a high bar, delivering up to ~80,000 TPS—exceptional among decentralized exchanges. In comparison, some newer standalone-chain DEXs offer around 10,000 TPS—better than legacy Ethereum-based platforms but only an eighth of DeriW’s capability. This firmly places DeriW among elite, next-generation exchanges that support high-frequency trading at scale. Notably, DeriW achieves this impressive throughput while remaining fully EVM-compatible and secured by Ethereum, powered by the Arbitrum Orbit framework—a key differentiator validated by real user conditions on its testnet.
Leverage and Trading Features: High leverage is a hallmark of derivative exchanges, and DeriW doesn’t disappoint. It offers up to 100x leverage on major trading pairs, which is higher than most decentralized competitors. By providing 100x, DeriW is catering to a segment of traders who seek higher risk-reward profiles, similar to offerings on some centralized futures exchanges. Importantly, DeriW couples this with advanced order types (stop-loss, take-profit, etc.) on the testnet, ensuring traders have tools to manage the risk that comes with high leverage. This combination of flexibility and control is critical – and DeriW is showing that even in a testnet environment, users can practice sophisticated trading strategies that rival those on established platforms.
Liquidity Model & Price Execution: Perhaps the most innovative aspect differentiating DeriW is its Pendulum AMM liquidity pool. Unlike traditional order books or static AMMs with oracles, DeriW’s pool dynamically adjusts liquidity based on traders’ positions. This “pendulum” approach optimizes asset utilization in real-time, supporting volumes beyond initial capital, reducing slippage, and providing deeper liquidity. While orderbook-based DEXs rely on market makers—vulnerable to slippage during volatility—DeriW’s closed-fund model and automatic risk recalibration ensure solvency and stability, combining order-book depth with AMM efficiency.
Security and Decentralization: All leading DeFi derivatives platforms prioritize security but use different approaches. Some rely on decentralized validators, others utilize their own consensus mechanisms with federated validators, and another inherits security from Arbitrum Layer 2. DeriW leverages Ethereum’s robust security via Arbitrum’s rollup, enhanced by its unique UBPK (Unstolen Browser Private Key) mechanism that ensures private keys remain securely stored within user browsers.
Benchmarks and Performance Metrics in Context
Thanks to Arbitrum Orbit’s efficient consensus and block production, DeriW’s block time is expected to be on the order of a second or less, which is similar to other DEXs 0.2s block time advantage. Achieving near-instant finality is crucial for traders who might otherwise worry about timing and MEV (Maximal Extractable Value) issues. Although detailed latency stats are still being gathered, the user experience goal is clear: make on-chain trading on DeriW feel as immediate as trading on a centralized platform.
Another important metric is uptime and reliability during the test. The DeriW team is closely monitoring system uptime and recovery from any crashes or network issues. A robust exchange must handle network spikes, degraded conditions, or attacks without downtime. By publishing these performance metrics and comparing them with industry standards, DeriW intends to demonstrate transparently where it stands. So far, the absence of gas fees and high throughput capacity on testnet have enabled continuous trading even when simulating thousands of concurrent users – something that might clog less scalable testnets. The platform is also tracking how its automatic risk controls (like the pendulum mechanism) perform quantitatively: e.g., maintaining targeted liquidity levels, keeping slippage near zero, and ensuring the funding rates and PnL (profit and loss) for liquidity providers stay within expected bounds. These technical benchmarks, once validated on testnet, will serve as proof points that DeriW can handle real-world volumes and stress when it goes live.
Expected Outcomes & Next Steps Before Mainnet Launch
The testnet phase is not just a demo for DeriW – it’s a critical period for learning and refining. The main goals include collecting user feedback on the trading interface and features, uncovering any bugs or security vulnerabilities, and optimizing the platform’s performance under realistic conditions.
DeriW is actively analyzing user interactions with its new liquidity model (including preferred leverage levels, popular trading pairs, and responses to zero fees) to refine fee structures and risk management. Incentive initiatives, such as the Supernova event, serve both as promotional tools and practical stress tests to ensure the platform performs reliably under high trading volume.
Feedback collected through community channels will directly guide improvements, prioritizing user-identified issues in ongoing development sprints. By Q2 2025, DeriW plans to transition from testnet to mainnet alongside the $DER Token Generation Event (TGE), officially launching its economic and governance models. Prior to mainnet launch, the team will thoroughly fine-tune smart contracts, bolster infrastructure, and enhance the user interface based on insights gained from testnet users.
The roadmap beyond mainnet is ambitious: by Q3 2025, DeriW plans to introduce a professional-grade API for algorithmic traders and support custom trading pairs. By Q4 2025, the goal is to cultivate a global trading community and further improve the user experience through community-driven enhancements—all built upon the foundation established during the testnet.
Engaging the Community and Conclusion
DeriW actively keeps the community engaged and informed with regular testnet updates, transparent performance metrics, and ongoing social media interaction. Early testnet adopters gain not only rewards but also valuable firsthand experience, positioning them advantageously for the mainnet launch. Backed by the seasoned CoinW exchange group, the meticulous approach to this testnet demonstrates readiness for prime time.
DeriW’s testnet isn’t just another generic launch—it’s a bold demonstration of innovation, combining proven DeFi strengths with fresh enhancements. By benchmarking against industry leaders, DeriW signals its ambition to lead in decentralized trading. The coming months will be critical, but current progress suggests DeriW is well-positioned to convert testnet success into a transformative mainnet launch. Stay tuned as DeriW moves from testnet to mainnet, carrying forward the insights and confidence gained during this trial by fire.
About DeriW
DeriW is the first zero-gas-fee decentralized perpetual contract exchange, blending Ethereum’s security with Layer 3 scalability to deliver CEX-like efficiency in a decentralized framework. Operated by CoinW’s seasoned fintech team, it redefines trading with 80,000 TPS throughput, ensuring speed, transparency, and trustless execution.
Website: www.deriw.com
Twitter: @deriwfi
Telegram: https://t.me/deriwfinance
Discord: https://discord.com/invite/deriwfinance
Photo – https://mma.prnewswire.com/media/2639829/DeriW_Testnet_Launch_Sets_New_Standards_Decentralized_Derivatives_Trading.jpg
Logo – https://mma.prnewswire.com/media/2618621/CoinW_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/deriw-testnet-launch-sets-new-standards-in-decentralized-derivatives-trading-302400740.html
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Technology
5N+ Reports Third Quarter of 2026 Financial Results
Published
6 seconds agoon
November 2, 2026By
Reports Revenue Growth and Sequential Margin Improvement;
Expects to Achieve High End of Adjusted EBITDA1 Guidance Range
Q3 revenue increased 30% to $136.4 million, bringing YTD revenue to $376.6 millionQ3 Adjusted gross margin[1] increased 10% to $42.8 million or 31.4% of revenue1, bringing YTD Adjusted gross margin to $121.2 million or 32.2% of revenueQ3 Adjusted EBITDA increased 7% to $31.1 million, bringing YTD Adjusted EBITDA to $86.8 millionExpects to achieve high end of full-year Adjusted EBITDA guidance range of between $100 and $105 million
MONTREAL, Nov. 2, 2026 /CNW/ — 5N Plus Inc. (TSX: VNP) (“5N+” or “the Company”), a leading global producer of specialty semiconductors and performance materials, today announced its financial results for the third quarter ended September 30, 2026 (“Q3 2026”). All amounts are expressed in U.S. dollars unless otherwise stated.
“Higher volumes in both segments supported revenue and Adjusted EBITDA growth in Q3 2026, while adjusted gross margin remained robust and improved sequentially, despite input cost pressures. We continue to operate at high capacity and to ramp additional production to support customer demand, while operating in a complex environment. We are pleased to be on track to achieve the high end of our full-year 2026 Adjusted EBITDA guidance range,” said Richard Perron, President and Chief Executive Officer of 5N+.
Mr. Perron added: “In the context of high operating demands, we remain focused on delivering on customer commitments, executing capacity expansion projects and improving productivity to achieve further economies of scale. This includes advancing recently announced gallium arsenide (GaAs) production and facility expansion plans at St. George, Utah, to support growing demand across defence, space solar, medical imaging and industrial sensing applications. Together, all our ongoing initiatives support our long-term growth strategy across key markets, building on our differentiated market position and Western manufacturing base.”
Financial Highlights
Revenue in Q3 2026 increased by 30% to $136.4 million, compared to $104.9 million in Q3 2025, primarily reflecting higher volumes in Specialty Semiconductors and Performance Materials.Adjusted EBITDA in Q3 2026 increased by 7% to $31.1 million, compared to $29.1 million in Q3 2025, driven by higher volumes in both segments.Adjusted gross margin in Q3 2026 increased by 10% to $42.8 million, compared to Q3 2025. Adjusted gross margin as a percentage of revenue was 31.4% in Q3 2026, compared to 36.9% in Q3 2025, primarily due to anticipated normalization of the margin under Performance Materials.Net earnings were $12.3 million in Q3 2026, compared to $18.2 million in Q3 2025.Backlog1 stood at $447.3 million, representing 299 days of annualized revenue as at September 30, 2026, 14 days lower than in the previous quarter and 12 days lower than as at September 30, 2025.Net debt1 was $32.4 million as at September 30, 2026, compared to $50.3 million as at December 31, 2025, while the Company’s net-debt-to-EBITDA ratio1 stood at 0.31x as at September 30, 2026.
____________
1
These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. See Non-IFRS Measures for more information.
Outlook
The Company continues to benefit from favourable long-term fundamentals and structural expansion across its key end markets in Specialty Semiconductors and from the resilience of its Performance Materials segment.
As the geopolitical and economic backdrop continues to evolve, the Company expects to continue operating in a complex environment with rising cost pressures across its businesses and normalizing margin conditions in Performance Materials. To help mitigate cost pressures and improve operational efficiency, the Company remains focused on disciplined execution of its productivity initiatives and capacity expansion plans to achieve economies of scale.
Based on its strong nine-month performance and anticipated and contracted demand through the end of year, the Company is reaffirming its full-year 2026 Adjusted EBITDA guidance of between $100 million and $105 million, and expects to achieve the high end of its guidance.
Supported by its competitive market positioning and expertise, including its Western manufacturing base and focus on value-added products, strong customer relationships and commercial discipline, 5N+ is well positioned to continue executing its long-term growth strategy as a critical supplier to critical industries.
Conference Call
5N+ will host a conference call on Tuesday, November 3, 2026, at 8:00 a.m. (EST) to discuss its third quarter 2026 financial results. All interested parties are invited to participate in the live broadcast on the Company’s website at www.5nplus.com.
To participate in the conference call:
Dial-in: 1 800 990-4777 (toll-free), 1 289 819-1299 (Toronto) or 1 514 400-3794 (Montréal)Access code: 04970
A playback will be available two hours after the event at 1 888 660-6345, access code 04970, until November 10, 2026.
About 5N+
5N+ is a leading global producer of specialty semiconductors and performance materials. The Company’s ultra‐pure materials often form the core element of its customers’ products. These customers rely on 5N+’s products to enable performance and sustainability in their own products. 5N+ deploys a range of proprietary and proven technologies to develop and manufacture its products. The Company’s products enable various applications in several key industries, including renewable energy, security, space, pharmaceutical, medical imaging and industrial. Headquartered in Montréal, Quebec, 5N+ operates R&D, manufacturing and commercial centers in strategically located facilities around the world including Europe, North America and Asia.
Forward‐Looking Statements
Certain statements in this press release may be forward‐looking within the meaning of applicable securities laws. Such forward‐looking statements are based on a number of estimates and assumptions that the Company believes are reasonable when made, including that 5N+ will be able to retain and hire key personnel and maintain relationships with customers, suppliers and other business partners, that 5N+ will continue to operate its business in the normal course, that 5N+ will be able to implement its growth strategy, that 5N+ will be able to successfully complete the realization of its backlog in a timely manner, that 5N+ will not suffer any supply chain challenges or any material disruption in the supply of raw materials on competitive terms, that 5N+ will be able to generate new sales, produce, deliver, and sell its expected product volumes at the expected prices and control its costs, as well as other factors believed to be appropriate and reasonable in the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict and may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking statements. A description of the risks affecting the Company’s business and activities appears under the heading “Risk and Uncertainties” of 5N+’s 2025 MD&A dated February 24, 2026 available on SEDAR+ at www.sedarplus.ca.
Forward‐looking statements can generally be identified by the use of terms such as “may”, “should”, “would”, “believe”, “expect”, the negative of these terms, variations of them or any similar terms. No assurance can be given that any events anticipated by the forward‐looking statements in this press release will transpire or occur, or if any of them do so, what benefits that 5N+ will derive therefrom. In particular, no assurance can be given as to the future financial performance of 5N+.
The forward‐looking statements contained in this press release are made as of the date hereof and the Company has no obligation to publicly update such forward‐looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward‐looking statements. Forward-looking statements are presented in this press release for the purpose of assisting investors and others in understanding certain key elements of the Company’s expected financial results, as well as the Company’s objectives, strategic priorities and outlook, and in obtaining a better understanding of the Company’s anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.
5N PLUS INC.
INTERIM CONSOLIDATED STATEMENTS OF EARNINGS
For the three and nine-month periods ended September 30
(in thousands of United States dollars, except per share information) (unaudited)
Three months
Nine months
2026
2025
2026
2025
$
$
$
$
Revenue
136,387
104,895
376,638
289,094
Cost of sales
97,420
69,857
266,567
197,637
Selling, general and administrative expenses
10,285
8,944
30,962
25,203
Other expenses (income), net
10,259
(635)
4,506
4,941
117,964
78,166
302,035
227,781
Operating earnings
18,423
26,729
74,603
61,313
Financial expense
Interest on long-term debt
1,279
1,908
4,662
5,914
Imputed interest and other interest expense
409
385
1,348
1,449
Foreign exchange loss (gain)
340
(522)
587
(1,333)
2,028
1,771
6,597
6,030
Earnings before income taxes
16,395
24,958
68,006
55,283
Income tax expense (recovery)
Current
6,099
5,526
24,416
13,603
Deferred
(2,053)
1,256
(6,192)
(1,296)
4,046
6,782
18,224
12,307
Net earnings
12,349
18,176
49,782
42,976
Basic earnings per share
0.14
0.20
0.55
0.48
Diluted earnings per share
0.14
0.20
0.55
0.48
Net earnings are completely attributable to equity holders of 5N Plus Inc.
5N PLUS INC.
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(in thousands of United States dollars) (unaudited)
September 30
2026
December 31
2025
$
$
Assets
Current
Cash
46,543
59,573
Accounts receivable
68,029
50,470
Inventories
212,572
163,727
Income tax receivable
3,667
1,874
Derivative financial assets
–
19,593
Other current assets
10,748
6,938
Total current assets
341,559
302,175
Property, plant and equipment
110,121
99,634
Right-of-use assets
26,557
28,275
Intangible assets
21,054
23,117
Goodwill
11,657
12,062
Deferred tax assets
12,246
6,795
Other assets
4,930
3,072
Total non-current assets
186,565
172,955
Total assets
528,124
475,130
Liabilities
Current
Trade and accrued liabilities
87,510
79,096
Income tax payable
26,574
13,966
Derivative financial liabilities
11,804
–
Current portion of deferred revenue
19,745
12,834
Current portion of lease liabilities
2,253
2,170
Current portion of long-term debt
1,260
1,233
Total current liabilities
149,146
109,299
Long-term debt
77,647
108,604
Deferred tax liabilities
4,673
5,173
Employee benefit plan obligations
10,983
12,745
Lease liabilities
25,999
27,983
Deferred revenue
9,208
11,545
Other liabilities
706
817
Total non-current liabilities
129,216
166,867
Total liabilities
278,362
276,166
Equity
249,762
198,964
Total liabilities and equity
528,124
475,130
Non‐IFRS Measures
Backlog represents the expected orders the Company has received, but has not yet executed, and that are expected to translate into sales within the next twelve months, expressed in dollars and estimated in number of days not to exceed 365 days. Bookings represent orders received during the period considered, expressed in number of days, and calculated by adding revenue to the increase or decrease in backlog for the period considered, divided by annualized year revenue. 5N+ uses backlog to provide an indication of expected future revenue in days, and bookings to determine its ability to sustain and increase its revenue.
EBITDA means net earnings (loss) before interest expenses, income tax expense (recovery), depreciation and amortization. 5N+ uses EBITDA because it believes it is a meaningful measure of the operating performance of its ongoing business, without the effects of certain expenses. The definition of this non-IFRS measure used by the Company may differ from that used by other companies.
EBITDA is reconciled to the most comparable IFRS measure:
(in thousands of U.S. dollars)
Q3 2026
Q3 2025
YTD 2026
YTD 2025
$
$
$
$
Net earnings
12,349
18,176
49,782
42,976
Interest on long-term debt, imputed interest and other interest expense
1,688
2,293
6,010
7,363
Income tax expense
4,046
6,782
18,224
12,307
Depreciation and amortization
4,608
4,495
13,512
12,947
EBITDA
22,691
31,746
87,528
75,593
EBITDA margin is defined as EBITDA divided by revenue.
Adjusted EBITDA means operating earnings (loss) as defined before the effect of impairment of inventories, share-based compensation expense (recovery), ERP implementation costs, loss (gain) on disposal of property, plant and equipment, loss (gain) on remeasurement of financial instrument, impairment (reversal of impairment) of non-current assets, litigation and restructuring costs (income), and depreciation and amortization. 5N+ uses Adjusted EBITDA because it believes it is a meaningful measure of the operating performance of its ongoing business without the effects of certain expenses. The definition of this non-IFRS measure used by the Company may differ from that used by other companies.
Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue.
Adjusted EBITDA and Adjusted EBITDA margin are reconciled to the most comparable IFRS measure:
(in thousands of U.S. dollars)
Q3 2026
Q3 2025
YTD 2026
YTD 2025
$
$
$
$
Revenue
136,387
104,895
376,638
289,094
Operating expenses
(117,964)
(78,166)
(302,035)
(227,781)
Operating earnings
18,423
26,729
74,603
61,313
Share-based compensation expense (recovery)
7,587
(2,512)
(2,117)
(1,926)
ERP implementation costs
283
343
689
659
Litigation and restructuring costs
159
–
159
–
Loss on remeasurement of financial instrument
–
–
–
1,000
Depreciation and amortization
4,608
4,495
13,512
12,947
Adjusted EBITDA
31,060
29,055
86,846
73,993
Adjusted EBITDA margin
22.8 %
27.7 %
23.1 %
25.6 %
Adjusted operating expenses means operating expenses before impairment of inventories, share-based compensation expense (recovery), ERP implementation costs, loss (gain) on disposal of property, plant and equipment, loss (gain) on remeasurement of financial instrument, impairment (reversal of impairment) of non-current assets, litigation and restructuring costs (income), and depreciation and amortization. 5N+ uses Adjusted operating expenses to calculate Adjusted EBITDA. 5N+ believes it is a meaningful measure of the operating performance of its ongoing business. The definition of this non-IFRS measure used by the Company may differ from that used by other companies.
Adjusted operating expenses are reconciled to the most comparable IFRS measure:
(in thousands of U.S. dollars)
Q3 2026
Q3 2025
YTD 2026
YTD 2025
$
$
$
$
Operating expenses
117,964
78,166
302,035
227,781
Share-based compensation (expense) recovery
(7,587)
2,512
2,117
1,926
ERP implementation costs
(283)
(343)
(689)
(659)
Litigation and restructuring costs
(159)
–
(159)
–
Loss on remeasurement of financial instrument
–
–
–
(1,000)
Depreciation and amortization
(4,608)
(4,495)
(13,512)
(12,947)
Adjusted operating expenses
105,327
75,840
289,792
215,101
Adjusted net earnings (loss) means the net earnings (loss) before the effect of impairment of inventory, share-based compensation expense (recovery), ERP implementation costs, loss (gain) on disposal of property, plant and equipment, loss (gain) on remeasurement of financial instrument, impairment (reversal of impairment) of non-current assets and litigation and restructuring costs (income), net of the related income tax expense (recovery). 5N+ uses adjusted net earnings (loss) because it believes it is a meaningful measure of the operating performance of its ongoing business without the effects of unusual expenses or income. The definition of this non-IFRS measure used by the Company may differ from that used by other companies.
Basic adjusted earnings (loss) per share means adjusted net earnings (loss) divided by the basic weighted average number of outstanding shares. 5N+ uses basic adjusted earnings (loss) per share because it believes it is a meaningful measure of the operating performance of its ongoing business without the effects of unusual expenses or income. The definition of this non-IFRS measure used by the Company may differ from that used by other companies.
Adjusted net earnings (loss) and Basic adjusted earnings (loss) per share are reconciled to the most comparable IFRS measures:
(in thousands of U.S. dollars, except per share amounts and number of shares)
Q3 2026
Q3 2025
YTD 2026
YTD 2025
$
$
$
$
Net earnings
12,349
18,176
49,782
42,976
Basic earnings per share
$0.14
$0.20
$0.55
$0.48
Reconciling items:
Share-based compensation expense (recovery)
7,587
(2,512)
(2,117)
(1,926)
ERP implementation costs
283
343
689
659
Litigation and restructuring costs
159
–
159
–
Loss on remeasurement of financial instrument
–
–
–
1,000
Income tax (recovery) expense on taxable items above
(2,086)
575
378
337
Adjusted net earnings
18,292
16,582
48,891
43,046
Basic weighted average number of shares
89,935,323
89,073,847
89,745,491
89,057,751
Basic adjusted earnings per share
$0.20
$0.19
$0.54
$0.48
Adjusted gross margin is a measure used to monitor the sales contribution after paying cost of sales, excluding depreciation and inventory impairment charges. 5N+ also expressed this measure in percentage of revenue by dividing the adjusted gross margin value by the total revenue.
Adjusted gross margin is reconciled to the most comparable IFRS measure:
(in thousands of U.S. dollars)
Q3 2026
Q3 2025
YTD 2026
YTD 2025
$
$
$
$
Total revenue
136,387
104,895
376,638
289,094
Cost of sales
(97,420)
(69,857)
(266,567)
(197,637)
Gross margin
38,967
35,038
110,071
91,457
Depreciation included in cost of sales
3,829
3,703
11,163
10,657
Adjusted gross margin
42,796
38,741
121,234
102,114
Adjusted gross margin percentage
31.4 %
36.9 %
32.2 %
35.3 %
Net debt is calculated as total debt less cash. Any introduced IFRS 16 reporting measures in reference to lease liabilities are excluded from the calculation. 5N+ uses this measure as an indicator of its overall financial position.
The net debt to EBITDA ratio is defined as net debt divided by the trailing 12 months EBITDA.
Total debt and Net debt are reconciled to the most comparable IFRS measure:
(in thousands of U.S. dollars)
As at September 30, 2026
As at December 31, 2025
$
$
Bank indebtedness
–
–
Long-term debt including current portion
78,907
109,837
Lease liabilities including current portion
28,252
30,153
Subtotal Debt
107,159
139,990
Lease liabilities including current portion
(28,252)
(30,153)
Total Debt
78,907
109,837
Cash
(46,543)
(59,573)
Net Debt
32,364
50,264
SOURCE 5N Plus Inc.
Technology
Global Industrial Automation Market to Hit US$ 410.3 Billion by 2031, Registering 9% CAGR: Wissen Research
Published
17 seconds agoon
November 2, 2026By
SHERIDAN, Wyo., Nov. 2, 2026 /PRNewswire/ — The global industrial automation market is valued at USD 266.7 billion in 2026 and is projected to reach USD 410.3 billion by 2031, growing at a CAGR of 9% over the forecast period (2026–2031), according to a new study by Wissen Research.
The clearest evidence is on the factory floor. The International Federation of Robotics (IFR) reports that factories installed a record 603,000 industrial robots in 2025, up 11% from the year before, and that the global operational stock reached 5.079 million units. IFR forecasts installations to rise another 9% in 2026, to approximately 655,000 units.
Behind the robots is a broader shift. The market is moving from hardware-oriented, isolated machine control toward connected, software-based production that combines control hardware, robotics, industrial software, and real-time analytics. Demand is driven by labor shortages, rising quality standards, and the need to control complex processes in automotive, electronics, food, and pharmaceutical manufacturing.
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Industrial AI Has Moved From Pilot Projects Into Live Operations
Cisco’s 2026 State of Industrial AI study found that 61% of surveyed organizations were using AI in live industrial operations, and 83% planned to increase their AI spending. The use cases already delivering results are practical ones: predictive maintenance, process automation, automated quality inspection, logistics, and energy forecasting. Machine vision systems powered by AI can spot defects and abnormal conditions, and AI can adjust process parameters as production conditions change.
Getting there is harder than buying software. AI has to be integrated with industrial control systems, edge computing, and data platforms, which depends on good machine data, working IT and operational technology (OT) connections, and the state of legacy systems. In the same Cisco study, 97% of respondents expected AI workloads to affect their industrial network requirements, 51% anticipated higher connectivity and reliability requirements, and 43% reported limited or no collaboration between IT and OT teams. The report sees opportunities in industrial networking, edge devices, and real-time data infrastructure alongside conventional automation hardware, and in digital twins, which let companies test production changes virtually before implementing them.
Robots Move Beyond the Car Factory
For years, industrial robotics meant automotive welding and material handling. The IFR data show a broader base. In 2025, robot installations in metal and machinery grew 22%, while automotive and electronics installations each rose 10%. Collaborative robots (cobots) accounted for 66,000 new installations, about 11% of the total, and autonomous mobile robots are taking on internal transport. The growth is concentrated geographically: China installed about 354,000 robots in 2025, roughly 59% of the global total and 20% more than the year before, while India installed nearly 10,500, up 15%, with annual installations growing an average of 27% between 2020 and 2025.
The competitive map is shifting with it. Chinese robot manufacturers supplied 55% of the industrial robots installed in China in 2025, up from approximately 28% a decade earlier, intensifying competition for established international vendors.
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What’s Fueling Growth in the Industrial Automation Market
Semiconductor manufacturing capacity: New wafer plants need tight control of temperature, pressure, gas flow, and contamination, which raises demand for automation systems, sensors, robots, and integrated control systems.Electrified vehicle production: Battery manufacturing, motor assembly, and battery pack integration need automated material handling, robotic welding, vision-based inspection, and traceability to keep high-volume production consistent.Pharmaceutical traceability and process regulation: Complex biopharma production and regulatory traceability requirements call for automated inspection, batch control systems, paperless technology, and accurate dosing tools.Food inspection and packaging: High-speed lines rely on machine vision, automated weighing, fill-level verification, and reject systems to cut product loss and ensure correct packaging.Brownfield modernization: Companies are replacing outdated programmable logic controllers (PLCs), old drives, and unintegrated automation with connected platforms that improve equipment visibility and enable remote diagnostics without a complete plant renovation.Energy optimization: Chemical, oil and gas, and metals producers are adopting advanced process control, variable frequency drives, and real-time monitoring to stabilize processes and reduce energy use per unit of output.
Challenges Facing the Industrial Automation Market
The upfront cost is the first barrier. Replacing an old control system often means interrupting production, reconfiguring hardware, upgrading software, and validating the result, and companies with several production sites can struggle with incompatible communication standards and production methods. In pharmaceutical and food manufacturing, automated processes may need significant validation before they go live, and smaller businesses can find it hard to finance automation projects.
Connectivity brings industrial cybersecurity risk. Honeywell’s 2026 OT Cybersecurity Benchmark Report found that only 21% of surveyed organizations had a complete inventory of their operational technology assets, even though 88% described their cybersecurity programs as mature. Respondents reported an average of 16.2 hours of downtime from their most significant incidents, with losses reaching up to USD 500,000 per hour. The 2025 SANS ICS/OT Security Survey found that only 49% of surveyed organizations had detection capabilities designed specifically for industrial control systems, and just 26% of that group considered them highly effective. Recovery can be slow even when detection is quick: nearly half of surveyed incidents were detected within 24 hours, but almost one in five took more than a month to remediate fully.
Recent Strategic Developments in the Industrial Automation Market
In September 2026, Emerson Electric Co. of the United States announced plans for a 3,500-square-meter automation solutions service center in Qatar’s Umm Alhoul Free Zone, featuring the region’s first certified in-country flow calibration laboratory. The facility will provide measurement instrumentation, control system integration, spare parts, and training services to improve operational efficiency and reduce customer downtime across the Middle East and Africa.
In July 2026, City Electric Supply of the United States partnered with Siemens Digital Industries of Germany to expand industrial automation and control solutions through its Industrial Automation Solutions division. The partnership strengthened its capabilities in PLC systems, control panels, drives, SCADA, application engineering, and troubleshooting for smart manufacturing and automation customers across North America.
In July 2026, ABB Ltd. of Switzerland agreed to acquire Rotork plc of the United Kingdom through a recommended all-cash offer valued at approximately USD 5.5 billion, aiming to expand its portfolio in intelligent flow control, electric actuators, and instrumentation and to strengthen its field-device and industrial process automation capabilities.
In July 2026, American Industrial Partners completed its acquisition of Honeywell International Inc.’s Intelligrated and Transnorm businesses, combining them with Trew to create a warehouse automation provider. The combined organization offers conveyor systems, robotics, sortation, automated storage and retrieval systems, software, and lifecycle services, and generated over USD 1 billion in 2025 revenue.
The four deals cover service networks, distribution, field devices, and warehouse automation, a reminder that portfolios are being reshaped from several angles at once.
Key Insights from Industrial Automation Market Analysis
Industrial robotics held a strong position in 2025, supported by rising automation across manufacturing, demand for production precision, and flexible robotic systems. FANUC, Yaskawa, ABB, and KUKA compete in robotics, motion control, and integrated manufacturing automation.Automotive and transportation remained a major application in 2025. Automotive manufacturers installed 126,088 industrial robots worldwide in 2024, about 23.3% of the 542,000 installed that year, although electronics manufacturers installed slightly more (128,899), showing how closely the two industries compete for robotics demand. Electric vehicle production adds automated battery-cell handling, pack assembly, robotic joining, and testing to conventional assembly lines.Asia-Pacific held the leading regional position in 2025. Asia accounted for 74% of global industrial robot installations in 2024, compared with 16% in Europe and 9% in the Americas, and the United Nations Industrial Development Organization (UNIDO) reported that global manufacturing output in higher-technology industries grew 5.8% in 2025.The market is moderately consolidated. A few large multinationals compete alongside specialized technology providers. High entry barriers in complex automation systems, established customer relationships, broad product portfolios, and integration capabilities strengthen the leaders, while niche providers compete in robotics, sensors, and industrial software.Software and services are measurable differentiators. Siemens generated EUR 6.17 billion in software revenue within its Digital Industries business in fiscal 2025, and Rockwell Automation reported USD 2.20 billion in Lifecycle Services sales. ABB agreed in October 2025 to sell its robotics division to SoftBank Group for approximately USD 5.4 billion, with completion expected in the second half of 2026 subject to approvals and other conditions.
Key Players in the Industrial Automation Market
Leading companies in the industrial automation market are focusing on industrial control systems, programmable logic controllers, sensors, drives, industrial robotics, automation software, process control platforms, and integrated digital manufacturing solutions. Competition is shaped by technology integration, installed equipment base, product reliability, software capabilities, cybersecurity, global service networks, and the ability to automate complex production processes across discrete and process industries.
The report names Emerson Electric Co. (US), ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), and Rockwell Automation, Inc. (US) as the top five players. Siemens, ABB, and Rockwell compete across different combinations of control hardware, software, motion systems, and lifecycle services, which shapes their ability to serve integrated factory requirements.
Other companies profiled in the report include Honeywell International Inc. (US), Mitsubishi Electric Corporation (Japan), Yokogawa Electric Corporation (Japan), Omron Corporation (Japan), and FANUC Corporation (Japan). The report also covers Yaskawa Electric, Bosch Rexroth, KUKA, Keyence, Endress+Hauser, Phoenix Contact, Festo, Beckhoff Automation, Danfoss, SICK, Advantech, Delta Electronics, WAGO, SEW-EURODRIVE, and Fuji Electric, among others.
Regional Analysis and Growth Opportunities
Asia-Pacific leads the industrial automation market, supported by a large electronics, semiconductor, automotive, machinery, and electrical equipment manufacturing base. China, Japan, and South Korea are active in industrial robotics, factory automation, and advanced manufacturing, while India is building manufacturing capability in automotive components, electronics, pharmaceuticals, and industrial machinery. The report adds a note of caution: robot adoption alone is a limited measure of automation, and judging which region is growing fastest requires more data on automation activity.
India’s semiconductor push is one opportunity the report highlights. The Union Budget 2026–27 allocated ₹1,000 crore to the India Semiconductor Mission 2.0, targeting semiconductor equipment, materials, design capabilities, research, and workforce development, which can widen opportunities for automation suppliers serving domestic semiconductor manufacturing.
Europe, North America, Latin America, and the Middle East & Africa complete the report’s regional coverage.
Market Segmentation Snapshot
The global industrial automation market is segmented across solution type, end user type, and region:
By Solution Type:Industrial Control Systems (Programmable Logic Controllers, Distributed Control Systems, Supervisory Control and Data Acquisition, Human-Machine Interfaces, Other Industrial Control Systems)Field Devices (Industrial Sensors and Transmitters, Control Valves and Actuators, Motors and Drives, Other Field Devices)Industrial RoboticsIndustrial Automation Software (Manufacturing Execution Systems, Other Industrial Automation Software)Industrial Automation Services (System Integration, Maintenance and Support)By End User Type:Automotive and TransportationElectronics and SemiconductorsFood and BeveragesPharmaceuticals and Life SciencesChemicals and PetrochemicalsOil and GasPower and UtilitiesMetals and MiningAerospace and DefensePulp and PaperOther IndustriesBy Region:North AmericaEuropeAsia-PacificLatin AmericaMiddle East & Africa
Frequently Asked Questions
Q: What is the size of the industrial automation market? A: The global industrial automation market is estimated at USD 266.7 billion in 2026 and is projected to reach USD 410.3 billion by 2031.
Q: What is the growth rate of the industrial automation market? A: The industrial automation market is projected to grow at a CAGR of 9% between 2026 and 2031.
Q: What does the industrial automation market include? A: The industrial automation market comprises the hardware, software, and services used to automate industrial processes, manufacturing operations, production lines, and infrastructure systems. It covers industrial control systems, field devices, industrial robotics, industrial automation software, and industrial automation services used to improve efficiency, productivity, process consistency, quality control, safety, and resource utilization.
Q: How many industrial robots are installed each year? A: According to the International Federation of Robotics, factories installed 603,000 industrial robots in 2025, an increase of 11% from 2024, and the global operational stock reached 5.079 million units. IFR forecasts installations to rise 9% in 2026 to approximately 655,000 units.
Q: Is industrial AI being used in live operations? A: Yes. Cisco’s 2026 State of Industrial AI study found that 61% of surveyed organizations were using AI in live industrial operations and 83% planned to increase their AI spending. Predictive maintenance, process automation, automated quality inspection, logistics, and energy forecasting are among the applications already delivering operational benefits.
Q: What are the main challenges in industrial automation? A: The main challenges are high upfront cost, the production interruptions and validation needed to replace legacy control systems, incompatible communication standards across sites, and cybersecurity. Honeywell’s 2026 benchmark found that only 21% of surveyed organizations had a complete inventory of their operational technology assets.
Q: Which region leads the industrial automation market? A: Asia-Pacific held the leading regional position in the industrial automation market in 2025, supported by its electronics, semiconductor, automotive, machinery, and electrical equipment manufacturing base and by its 74% share of global industrial robot installations in 2024.
Q: Who are the top players in the industrial automation market? A: Leading companies in the industrial automation market include Emerson Electric Co., ABB Ltd., Siemens AG, Schneider Electric SE, and Rockwell Automation, Inc.
Q: How consolidated is the industrial automation market? A: The market is moderately consolidated, with a few large multinational players competing alongside specialized technology providers. High entry barriers, established customer relationships, broad product portfolios, and integration capabilities strengthen the leading suppliers, while niche providers compete in robotics, sensors, and industrial software.
The report’s picture is a market where robots, software, and AI are arriving together, and where the limits are cost, integration, and security more than technology. For suppliers, the work ahead is helping factories modernize existing plants without long shutdowns, connect operations safely, and show measurable returns.
Get the Complete Industrial Automation Market Report — Forecasts, Insights & Growth Opportunities: https://www.wissenresearch.com/market-research-reports-pricings/industrial-automation-market
Expert Profile | Mayur Jain, Wissen Research
Mayur Jain is a Research Expert at Wissen Research with multidomain expertise with more than 12+ years of experience in market research industry.
Email: mayur@wissenresearch.com
LinkedIn: https://www.linkedin.com/in/mayur-jain-0190542a/
About Wissen Research
Wissen Research is a global market intelligence and consulting firm specializing in healthcare, life sciences, technology, and emerging industries. The company provides data-driven insights, strategic market analysis, and industry forecasts to help organizations make informed business decisions and identify new growth opportunities across global markets
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Technology
Scientific Games Brings the Player Journey to Life at World Lottery Summit 2026
Published
1 minute agoon
November 2, 2026By
Powering Possibilities Exhibit Brings Together New Games, Digital Experiences and Retail Technology to Connect Play Across Channels
ATLANTA, Nov. 2, 2026 /PRNewswire/ — Scientific Games will showcase its latest games, technology and services at the World Lottery Summit in Sydney, November 9-12, demonstrating how player insights and innovation come together to create connected omnichannel experiences.
Held at the International Convention Centre in Sydney, Australia, WLS brings together lottery executives, product managers and technologists from more than 75 countries.
The global lottery company’s Powering Possibilities exhibit will feature instant game innovations, specialty products and licensed brands alongside digital games, loyalty, CRM, player marketing and retail technology. Attendees will explore how these offerings work together to help players discover games, purchase and play across retail and digital channels—and stay connected beyond an individual purchase.
“Our innovation starts with understanding players and creating games and experiences that appeal to them,” said Beth Bresnahan, Chief Communications & Brand Officer for Scientific Games. “At WLS, we’re showing how those ideas come to life across retail and digital channels, helping lotteries build stronger player relationships and create new opportunities for responsible growth.”
Visitors to the Powering Possibilities exhibit will explore new games, digital experiences and retail technology, with data and analytics informing game creation, personalizing engagement and helping lotteries optimize the player experience across channels. Highlights include:
Instant game innovation
Pop N’ Paks, Advent calendars and specialty scratch games offer interactive prize reveals, while foil and holographic enhancements and PlayPak packaging create new ways to present and experience instant games.
Scratch Connect extends physical tickets into digital play, offering more entertainment and additional opportunities to reveal winnings while helping lotteries introduce players to loyalty programs and build connections beyond the retail purchase.
Licensed brands
Scientific Games offers lotteries more than 100 licensed brands, supported by extensive consumer research to develop omnichannel play experiences. WLS highlights include FAST & FURIOUS, FRIDA KAHLO, MONOPOLY and UNO across a variety of retail and digital game formats, with a new MONOPOLY eInstant game from SG Studios coming soon.
Digital games and player engagement
Available in more than 10 languages, Scientific Games’ digital game portfolio combines innovative mechanics, varied themes and licensed brands to appeal to different player preferences.
Loyalty and CRM solutions use real-time data and personalized communications to connect retail and online interactions and strengthen player relationships. The company’s agency services support those connections through creative development, production and media campaigns.
Retail technology
Scientific Games’ retail portfolio helps lotteries and retailers expand player choice, improve purchasing and operate more efficiently.
The SCiQ ecosystem combines digital menu boards, store-level sales insights and secure dispensing to modernize scratch game sales and inventory management. The WAVE family of clerk-operated terminals supports fast, convenient service across retail environments.
PlayCentral Powered by SCiQ self-service terminals offer personalized game recommendations through GameChoice, AI and advanced analytics, with formats suited to traditional retail and social venues. New ScreenPlay digital instant-win games bring animated gameplay to self-service terminals, creating opportunities to expand into new settings.
Scientific Games is the world’s largest lottery games company, fastest-growing lottery systems provider and a leading global provider of iLottery solutions, digital lottery games, mobile apps, player loyalty programs and customer relationship management programs.
FAST & FURIOUS © Universal City Studios LLC. All Rights Reserved.
FRIDA KAHLO © Frida Kahlo Corporation. All rights reserved.
MONOPOLY TM, ® & © 1935, 2026 Hasbro.
UNO™ and associated trademarks and trade dress are owned by, and used under license from, Mattel. © 2026 Mattel. All Rights Reserved.
GameChoice™, PlayCentral® Powered by SCiQ®, PlayPak™, SCiQ®, Scratch Connect™, ScreenPlay™, WAVE™ are trademarks of Scientific Games. © 2026 Scientific Games, LLC. All Rights Reserved. © 2026 Scientific Games, LLC. All Rights Reserved.
About Scientific Games
Scientific Games is a global leader in retail and digital products, technology, analytics and services that drive profits for government-sponsored lottery and sports betting programs. From enterprise gaming platforms to exciting entertainment experiences and trailblazing retail and digital solutions, we elevate play every day. We are industry pioneers in instant games, data analytics, retail solutions and iLottery. Built on a foundation of trusted partnerships since 1973, Scientific Games combines relentless innovation, performance and unwavering security to responsibly propel the industry forward. For more information, visit scientificgames.com.
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SOURCE Scientific Games, LLC
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Global Industrial Automation Market to Hit US$ 410.3 Billion by 2031, Registering 9% CAGR: Wissen Research
Scientific Games Brings the Player Journey to Life at World Lottery Summit 2026
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