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CarParts.com Reports Fiscal Year 2024 Results

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TORRANCE, Calif., March 25, 2025 /PRNewswire/ — CarParts.com, Inc. (NASDAQ: PRTS), a leading eCommerce provider of automotive parts and accessories, and a premier destination for vehicle repair and maintenance needs, is reporting results for the fourth quarter and fiscal year ended December 28, 2024. 

Fiscal Year 2024 Summary vs. Fiscal Year 2023

Net sales decreased 13% to $588.8 million.Gross profit of $196.7 million vs. $229.4 million, with gross margin of 33.4%.Net loss was ($40.6) million, or ($0.71) per share, compared to a net loss of ($8.2) million, or ($0.15) per share.Adjusted EBITDA of ($7.1) million vs. $19.7 million.Cash of $36.4 million and no revolver debt.Our mobile app has cumulative net downloads of over 800,000, more than double the number from the beginning of the year.New semi-automated Las Vegas distribution center fully operational and handling 25% of company volume.Launched a fully re-platformed CarParts.com website featuring an AI based search solution and machine learning based product recommendations.Launched CarParts+ a paid membership that includes roadside assistance and other benefits.

Fourth Quarter 2024 Summary vs. Year-Ago Quarter  

Net sales decreased to $133.5 million, down 15% year-over-year.Gross profit of $43.4 million vs. $51.6 million, with gross margin of 32.5%.Net loss was ($15.4) million, or ($0.27) per share, compared to a net loss of ($6.1) million, or ($0.11) per share.Adjusted EBITDA of ($6.8) million vs. $1.0 million.

Management Commentary

“2024 was an important year in the ongoing transformation of CarParts.com.  We began the year by refocusing our strategy on three key elements: number one, driving gross and net margin to strengthen financial performance; number two, accelerating efficiency and effectiveness to quickly deliver improved profitability; and number three, achieving sustainable growth with strong long-term free cash flow.

The economic environment was challenging for lower income consumers for all of 2024, leading to a significant pullback in spending and deferral of costs like auto repairs.  To address these pressures, we are prioritizing several non-paid marketing initiatives—such as enhancing our site conversion and strengthening our search engine optimization —alongside driving mobile app adoption, generating high-margin fee income, expanding our product assortment, and growing our wholesale channel. We believe these efforts will position us to increase our net profit margin and drive long-term growth” said David Meniane, CEO.

Fiscal Year 2024 Financial Results

Net sales in fiscal year 2024 were $588.8 million, down 13% from $675.7 million in fiscal year 2023. The decline was primarily driven by the impact of soft consumer demand as well as significant pressures in lighting and mirrors which got impacted by the flooding of non-compliant illegal parts.

Gross profit was $196.7 million in fiscal year 2024 compared to $229.4 million in fiscal year 2023, with gross margin decreasing 50 basis points to 33.4%.

Total operating expenses in fiscal year 2024 were $237.4 million compared to $239.3 million in fiscal year 2023. Operating expense as a percent of net sales increased 4.9% to 40.3% in fiscal year 2024, mainly attributable to investments in our business, such as brand and marketing investments, higher customer acquisition costs, overlapping software expenses related to our digital transformation and one-time costs related to the move to the new Las Vegas distribution center.

Net loss in fiscal year 2024 was ($40.6) million compared to a net loss of ($8.2) million in fiscal year 2023.

Adjusted EBITDA in fiscal year 2024 was ($7.1) million compared to $19.7 million in fiscal year 2023.

On December 28, 2024, the Company had a cash balance of $36.4 million and no revolver debt, compared to no revolver debt and a $51.0 million cash balance at prior fiscal year-end December 30, 2023. 

Fourth Quarter 2024 Financial Results

Net sales in the fourth quarter of 2024 were $133.5 million, down 15% from the year-ago quarter.  

Gross profit in the fourth quarter was $43.4 million compared to $51.6 million, with gross margin decreasing 50 basis points to 32.5%.

Total operating expenses in the fourth quarter were $58.9 million compared to $58.4 million in the year-ago.

Net loss in the fourth quarter was ($15.4) million compared to a net loss of ($6.1) million in the year-ago quarter.

Adjusted EBITDA in the fourth quarter was ($6.8) million compared to $1.0 million in the year-ago quarter, primarily due to higher-than-expected advertising cost per click and lower flow through from decreased revenue.

2025 Outlook

The company is currently evaluating various strategic alternatives in response to inbound interest. As a result, we are not providing guidance for 2025.

Conference Call

CarParts.com CEO David Meniane and CFO Ryan Lockwood will host a conference call today to discuss the results.

Date: Tuesday, March 25, 2025
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Webcast: www.carparts.com/investor/news-events

To listen to the live call, please click the link above to access the webcast. A replay of the audio webcast will be archived on the Company’s website at www.carparts.com/investor

About CarParts.com, Inc.

CarParts.com, Inc. is a technology-driven eCommerce company offering over 1 million high-quality automotive parts and accessories. Operating for over 25 years, CarParts.com has established itself as a premier destination for drivers seeking repair and maintenance solutions. Our commitment lies in placing the customer at the forefront of our operations, evident in our easy-to-use, mobile-friendly website and app. With a commitment to affordability and customer satisfaction, CarParts.com simplifies the automotive repair process, aiming to eliminate the uncertainty and stress often associated with vehicle maintenance. Backed by a robust company-operated fulfillment network, we ensure swift delivery of top-quality parts from leading brands to customers across the nation.

At CarParts.com, our global team is united by a shared vision: Empowering Drivers Along Their Journey.

CarParts.com is headquartered in Torrance, California.

Non-GAAP Financial Measures

Regulation G, and other provisions of the Securities Exchange Act of 1934, as amended, define and prescribe the conditions for use of certain non-GAAP financial information. We provide “Adjusted EBITDA” in this earnings release and on today’s scheduled conference call, which are non-GAAP financial measures. Adjusted EBITDA consist of net loss before (a) interest (income) expense, net; (b) income tax provision; (c) depreciation and amortization expense; (d) amortization of intangible assets; (e) share-based compensation expense; (f) workforce transition costs; and (g) distribution center costs. A reconciliation of Adjusted EBITDA to net loss is provided below.

The Company believes that these non-GAAP financial measures provide important supplemental information to management and investors. These non-GAAP financial measures reflect an additional way of viewing aspects of the Company’s operations that, when viewed with the GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provides a more complete understanding of factors and trends affecting the Company’s business and results of operations.

Management uses Adjusted EBITDA as measures of the Company’s operating performance because it assists in comparing the Company’s operating performance on a consistent basis by removing the impact of stock compensation expense as well as other items that we do not believe are representative of our ongoing operating performance. Internally, these non-GAAP measures are also used by management for planning purposes, including the preparation of internal budgets; for allocating resources to enhance financial performance; and for evaluating the effectiveness of operational strategies. The Company also believes that analysts and investors use these non-GAAP measures as supplemental measures to evaluate the ongoing operations of companies in our industry.

These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. Management strongly encourages investors to review the Company’s consolidated financial statements in their entirety and to not rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. In addition, the Company expects to continue to incur expenses similar to the non-GAAP adjustments described above, and exclusion of these items from the Company’s non-GAAP measures should not be construed as an inference that these costs are all unusual, infrequent or non-recurring.

Safe Harbor Statement

This press release contains statements which are based on management’s current expectations, estimates and projections about the Company’s business and its industry, as well as certain assumptions made by the Company. These statements are forward looking statements for the purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended and Section 27A of the Securities Act of 1933, as amended. Words such as “anticipates,” “could,” “expects,” “intends,” “plans,” “potential,” “believes,” “predicts,” “projects,” “seeks,” “estimates,” “may,” “will,” “would,” “will likely continue” and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding our future operating results and financial condition, our potential growth, our ability to innovate, our ability to gain market share, and our ability to expand and improve our product offerings. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, competitive pressures, our dependence on search engines to attract customers, demand for the Company’s products, the online market and channel mix for aftermarket auto parts, the economy in general, increases in commodity and component pricing that would increase the Company’s product costs, the operating restrictions in its credit agreement, the weather and any other factors discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Risk Factors contained in the Company’s Annual Report on Form 10–K and Quarterly Reports on Form 10–Q, which are available at www.carparts.com/investor and the SEC’s website at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements in this release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. Unless otherwise required by law, the Company expressly disclaims any obligation to update publicly any forward-looking statements, whether as result of new information, future events or otherwise.

Investor Relations:

Ryan Lockwood, CFA
IR@carparts.com

Summarized information for the periods presented is as follows (in millions):

Thirteen Weeks
Ended

Thirteen Weeks
Ended

Fifty-Two Weeks
Ended

Fifty-Two Weeks
Ended

December 28, 2024

December 30, 2023

December 28, 2024

December 30, 2023

Net sales

$

133.54

$

156.40

$

588.85

$

675.73

Gross profit

$

43.45

$

51.60

$

196.74

$

229.41

32.5

%

33.0

%

33.4

%

33.9

%

Operating expense

$

58.92

$

58.35

$

237.37

$

239.29

44.1

%

37.3

%

40.3

%

35.4

%

Net loss

$

(15.42)

$

(6.09)

$

(40.60)

$

(8.22)

(11.5)

%

(3.9)

%

(6.9)

%

(1.2)

%

Adjusted EBITDA

$

(6.83)

$

0.97

$

(7.06)

$

19.69

(5.1)

%

0.6

%

(1.2)

%

2.9

%

The table below reconciles net loss to Adjusted EBITDA for the periods presented (in thousands):

Thirteen Weeks
Ended

Thirteen Weeks
Ended

Fifty-Two Weeks
Ended

Fifty-Two Weeks
Ended

December 28, 2024

December 30, 2023

December 28, 2024

December 30, 2023

Net loss

$

(15,418)

$

(6,086)

$

(40,601)

$

(8,223)

Depreciation & amortization

5,539

4,094

18,975

16,690

Amortization of intangible assets

88

8

121

36

Interest (income) expense, net

(61)

(313)

(301)

(636)

Income tax provision

7

(251)

267

145

EBITDA

$

(9,845)

$

(2,548)

$

(21,539)

$

8,012

Stock compensation expense

$

3,018

$

3,517

$

11,985

$

11,675

Workforce transition costs(1)

617

Distribution center costs(2)

1,882

Adjusted EBITDA

$

(6,827)

$

969

$

(7,055)

$

19,687

____________________________

(1)

We incurred workforce transition costs, primarily related to severance, as part of our recent workforce reductions.

(2)

We incurred certain non-recurring costs, primarily overlapping rent expense, attributable to moving to our new Las Vegas, Nevada distribution center.

 

CARPARTS.COM, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE OPERATIONS
(In Thousands, Except Per Share Data)

Fiscal Year Ended

December 28,

December 30,

2024

2023

Net sales

$

588,846

$

675,729

Cost of sales (1)

392,107

446,323

Gross profit

196,739

229,406

Operating expense

237,374

239,287

Loss from operations

(40,635)

(9,881)

Other income (expense):

Other income, net

1,466

3,197

Interest expense

(1,165)

(1,394)

Total other income, net

301

1,803

Loss before income taxes

(40,334)

(8,078)

Income tax provision

267

145

Net loss

(40,601)

(8,223)

Other comprehensive gain (loss):

Foreign currency adjustments

87

Actuarial gain (loss) on defined benefit plan

185

(305)

Unrealized loss on deferred compensation trust assets

(38)

Total other comprehensive gain (loss)

272

(343)

Comprehensive loss

$

(40,329)

$

(8,566)

Net loss per share:

Basic and diluted net loss per share

$

(0.71)

$

(0.15)

Weighted-average common shares outstanding:

Shares used in computation of basic and diluted net loss per share

57,026

56,570

_______________________

(1)

Excludes depreciation and amortization expense which is included in operating expense.

 

CARPARTS.COM, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
(In Thousands, Except Par Value Data)

December 28,

December 30,

2024

2023

ASSETS

Current assets:

Cash and cash equivalents

$

36,397

$

50,951

Accounts receivable, net

6,098

7,365

Inventory, net

90,353

128,901

Other current assets

6,020

6,121

Total current assets

138,868

193,338

Property and equipment, net

32,206

26,389

Right-of-use – assets – operating leases, net

26,682

19,542

Right-of-use – assets – finance leases, net

10,765

15,255

Other non-current assets

2,053

3,331

Total assets

$

210,574

$

257,855

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$

60,365

$

77,851

Accrued expenses

16,083

20,770

Right-of-use – obligation – operating, current

5,810

4,749

Right-of-use – obligation – finance, current

3,471

4,308

Other current liabilities

4,694

5,308

Total current liabilities

90,423

112,986

Right-of-use – obligation – operating, non-current

23,203

16,742

Right-of-use – obligation – finance, non-current

8,842

12,327

Other non-current liabilities

2,931

2,969

Total liabilities

125,399

145,024

Commitments and contingencies (Note 8)

Stockholders’ equity:

Common stock, $0.001 par value; 100,000 shares authorized; 57,454 and 56,303 shares issued
and outstanding as of December 28, 2024 and December 30, 2023 (of which 3,786 are treasury
stock)

61

60

Treasury stock

(11,912)

(11,912)

Additional paid-in capital

325,546

312,874

Accumulated other comprehensive income

1,055

783

Accumulated deficit

(229,575)

(188,974)

Total stockholders’ equity

85,175

112,831

Total liabilities and stockholders’ equity

$

210,574

$

257,855

 

CARPARTS.COM, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS
(In Thousands)

Year Ended

December 28,

December 30,

2024

2023

Operating activities

Net loss

$

(40,601)

$

(8,223)

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation and amortization expense

18,975

16,690

Amortization of intangible assets

121

36

Share-based compensation expense

11,985

11,675

Stock awards issued for non-employee director service

43

23

Stock awards related to officers and directors stock purchase plan from payroll deferral

10

Gain from disposition of assets

(70)

(78)

Amortization of deferred financing costs

65

65

Changes in operating assets and liabilities:

Accounts receivable

1,267

(1,101)

Inventory

38,547

6,681

Other current assets

102

549

Other non-current assets

1,168

(248)

Accounts payable and accrued expenses

(21,187)

23,696

Other current liabilities

(615)

686

Right-of-use obligation – operating leases – current

1,514

631

Right-of-use obligation – operating leases – long-term

(1,131)

(714)

Other non-current liabilities

145

(367)

Net cash provided by operating activities

10,338

50,001

Investing activities

Additions to property and equipment

(20,573)

(11,879)

Cash paid for intangible assets

(76)

(108)

Proceeds from sale of property and equipment

92

86

Net cash used in investing activities

(20,557)

(11,901)

Financing activities

Borrowings from revolving loan payable

229

244

Payments made on revolving loan payable

(229)

(244)

Repurchase of treasury stock

(4,311)

Payments on finance leases

(4,311)

(4,738)

Net proceeds from issuance of common stock for ESPP

359

483

Statutory tax withholding payment for share-based compensation

(470)

Proceeds from exercise of stock options

2,650

Net cash used in financing activities

(4,422)

(5,916)

Effect of exchange rate changes on cash

87

Net change in cash and cash equivalents

(14,554)

32,184

Cash and cash equivalents, beginning of period

50,951

18,767

Cash and cash equivalents, end of period

$

36,397

$

50,951

Supplemental disclosure of non-cash investing and financing activities:

Right-of-use operating asset acquired

$

12,857

$

Right-of-use finance asset acquired

$

$

784

Accrued asset purchases

$

502

$

1,499

Share-based compensation expense capitalized in property and equipment

$

746

$

804

Supplemental disclosure of cash flow information:

Cash paid during the period for income taxes

$

178

$

210

Cash paid during the period for interest

$

1,165

$

1,394

Cash received during the period for interest

$

1,466

$

2,030

 

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SOURCE CarParts.com, Inc.

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Technology

BTQ Technologies’ QSSN Selected as Core Security Infrastructure for South Korea’s First Bank-Led KRW Stablecoin Proof-of-Concept

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BTQ provides strategic advisory support and QSSN as core PQC security infrastructure for the iM Bank initiative on the Kaia mainnet, advancing post-quantum migration across global financial infrastructure

BTQ has been selected as the core post-quantum cryptography security technology provider for South Korea’s first bank-led KRW stablecoin proof-of-concept, delivering its Quantum Secure Stablecoin Settlement Network (“QSSN”) for the initiative.
 BTQ is providing strategic advisory support and helping coordinate implementation across the partnership with iM Bank and Finger, supporting the integration of post-quantum protections into regulated digital money infrastructure.
 Built on the Kaia mainnet, the proof-of-concept is connected to the blockchain ecosystems originally developed by Kakao and LINE, linking the initiative to two of the largest messaging and digital platform ecosystems in Korea and Japan.

VANCOUVER, BC, May 6, 2026 /PRNewswire/ – BTQ Technologies Corp. (“BTQ” or the “Company”) (Nasdaq: BTQ) (CBOE CA: BTQ), a global quantum technology company focused on securing mission-critical networks, today announced that it it has been selected as the core PQC security technology provider through its Quantum Secure Stablecoin Settlement Network (“QSSN”) in a proof-of-concept with its Korean strategic partner, Finger Inc. (“Finger”), and iM Bank, a leading Korean commercial bank, for South Korea’s first bank-led Korean won stablecoin infrastructure incorporating post-quantum cryptography (“PQC”).

The proof-of-concept represents more than a technical pilot. It marks an important step in bringing next-generation quantum security into banking infrastructure within Korea’s regulated financial system. In addition to providing QSSN as the core PQC security framework, BTQ is contributing consulting and strategic coordination across the three-way partnership, helping align the project’s security architecture, implementation approach, and long-term post-quantum migration objectives.

“Post-quantum migration requires more than a cryptographic upgrade. It requires coordination across infrastructure, implementation, and institutional stakeholders,” said Olivier Roussy Newton, Chief Executive Officer of BTQ Technologies. “In this initiative, BTQ is providing both strategic advisory support and QSSN as the post-quantum security architecture, while helping lead coordination across the three-way partnership. We believe this proof-of-concept demonstrates how financial institutions can begin integrating quantum-resilient protections into digital money systems in a practical and operationally viable way.”

South Korea’s First Bank-Led PQC Stablecoin Infrastructure Initiative

BTQ is working alongside iM Bank and Finger on a three-way initiative to validate the issuance and distribution infrastructure for a Korean won stablecoin. In addition to supplying QSSN as the PQC security layer, BTQ is providing consulting support and helping to guide coordination across the partnership as the parties evaluate how to integrate post-quantum protections into bank-led digital asset infrastructure.

The proof-of-concept will validate several key components, including real-time reconciliation between bank reserves and blockchain-issued supply, a global-standard smart contract architecture, connectivity to global infrastructure for overseas distribution, and the integration of a PQC-based dual-signature security structure. By applying BTQ’s PQC signature architecture alongside the existing ECDSA cryptographic framework, the system is designed to preserve operational continuity for financial institutions while proactively addressing future quantum computing threats.

Built on Kaia Mainnet

A notable feature of the proof-of-concept is that it will be implemented on the Kaia mainnet, one of Korea’s leading Layer 1 blockchain networks. Kaia was created through the merger of Klaytn, the blockchain originally developed by Kakao, and Finschia, the blockchain associated with LINE. Kakao and LINE sit at the center of two of the largest messaging and digital platform ecosystems in Korea and Japan, respectively, making Kaia a significant piece of regional digital infrastructure.

Klaytn previously participated in the Bank of Korea’s CBDC pilot ecosystem, and the Bank of Korea has continued to advance CBDC testing through initiatives such as Project Hangang.

By combining BTQ’s PQC technology with blockchain infrastructure tied to the Kakao and LINE ecosystems, the proof-of-concept is intended to establish a model that aligns institutional-grade security, blockchain scalability, and evolving regulatory requirements for digital money infrastructure.

QSSN as the Security Layer

The PQC security foundation for the initiative is BTQ’s Quantum Secure Stablecoin Settlement Network, or QSSN, a quantum-secure network architecture designed for stablecoin, tokenized deposit, payment, and digital asset infrastructure. QSSN is designed to protect critical issuer functions, including stablecoin issuance, burning, transfer authority, upgrade control, and administrative permissions, by integrating PQC-based signatures while maintaining existing user experience and operational workflows.

BTQ has previously announced that QSSN was highlighted in the U.S. Post-Quantum Financial Infrastructure Framework (“PQFIF”) as a model architecture for post-quantum digital money infrastructure. The Company has also positioned QSSN as a standards-oriented initiative advanced through QuINSA and aligned with emerging post-quantum financial infrastructure requirements.

Addressing the Harvest-Now, Decrypt-Later Risk

The timing of the proof-of-concept reflects the growing urgency surrounding the “Harvest-Now, Decrypt-Later” risk, in which attackers may collect encrypted financial data today and decrypt it later once sufficiently advanced quantum capabilities emerge. Global institutions are already accelerating post-quantum migration. The U.S. National Institute of Standards and Technology (“NIST”) has finalized its first set of post-quantum cryptography standards, including ML-DSA, ML-KEM, and SLH-DSA, while major technology companies and financial institutions continue to define their own post-quantum transition timelines.

BTQ’s QSSN addresses this challenge through a dual-signature design that allows existing ECDSA-based infrastructure to operate in parallel with NIST-aligned PQC signatures such as ML-DSA. This approach enables banks and payment infrastructure providers to begin a phased transition toward quantum-safe security without disrupting existing systems.

Expanding BTQ’s Korean Ecosystem

BTQ continues to expand its Korean ecosystem across digital assets, payments, banking infrastructure, and hardware-based security. In October 2025, BTQ announced that Finger had joined Danal as an early participant in BTQ’s QSSN pilot program, with the initiative expected to progress from proof-of-concept toward commercialization under QuINSA-aligned guidelines and broader industry frameworks such as PQFIF.

The commencement of the iM Bank proof-of-concept represents an important commercial signal for BTQ, indicating that demand for post-quantum migration among Korean financial institutions is beginning to move from policy discussion toward infrastructure-level implementation. As Korea advances both quantum technology policy and stablecoin-related regulatory discussions, BTQ believes QSSN is well positioned at the intersection of regulated finance, digital asset infrastructure, and post-quantum security.

About iM Bank
iM Bank is a South Korean commercial bank and a subsidiary of DGB Financial Group. Headquartered in Daegu, iM Bank presents itself as a financial companion for customers and traces its roots to Daegu Bank, which was established in 1967 as Korea’s first regional bank. For more information, please visit https://www.imbank.co.kr/

About Finger Inc. Group
Finger supplies and develops financial IT solutions to provide optimized money management strategies for employees and corporate customers. Providing “Smartphone Financial Services”, “Corporate Cash Management Services” for businesses, “Private Wealth Management Services” for private consumers.

Since the year 2000, Finger has accumulated a number of awards and patents regarding its businesses. Based on its Mobile Enterprise Application Platform(MEAP) Orchestra and its funds management system using screen-scrapping technologies, Finger was the first company in Korea to deliver a smartphone banking banking-service. For more information, please visit http://www.finger.co.kr/

About BTQ
BTQ Technologies Corp. (Nasdaq: BTQ | Cboe CA: BTQ) is a quantum technology company focused on accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio and deep technical expertise, BTQ is advancing a full-stack, neutral-atom quantum computing platform spanning hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense.

Connect with BTQ: Website | LinkedIn | X/Twitter

ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as “anticipate”, “intend”, “expect”, “plan” or “may” and the variations of these words are intended to identify forward-looking statements and information.

The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company’s research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE BTQ Technologies Corp.

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Zimmer Biomet to Present at the BofA Securities 2026 Health Care Conference

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WARSAW, Ind., May 6, 2026 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced that members of the Zimmer Biomet management team will participate in the Bank of America Securities Health Care Conference on Wednesday, May 13, 2026, with a fireside chat at 8:40 a.m. PT (11:40 a.m. ET).

A live audio webcast can be accessed via Zimmer Biomet’s Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the fireside chat.

About Zimmer Biomet 
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.

With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation. 

For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.

Contacts:

 

Media

Investors

Troy Kirkpatrick

David DeMartino

614-284-1926

646-531-6115

troy.kirkpatrick@zimmerbiomet.com

david.demartino@zimmerbiomet.com

Kirsten Fallon

Zach Weiner

781-779-5561

908-591-6955

kirsten.fallon@zimmerbiomet.com

zach.weiner@zimmerbiomet.com

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SOURCE Zimmer Biomet Holdings, Inc.

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NextLadder Ventures Announces Co-Founder Leadership Team, Investment Focus Areas For Over $1 Billion Initiative Empowering Americans with Personalized, Tech-Enabled Support Tools

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New senior hires from Google and The Collaborative Fund to lead product strategy and venture investing

Fund unveils first investment focus areas to catalyze new ‘Navigation Technology’ market, equipping Americans with cutting-edge tools to achieve economic security, opportunity and empowerment

ST. LOUIS, May 6, 2026 /PRNewswire/ — NextLadder Ventures, a new fund backed by more than $1 billion in capital, today announced its priority investment areas for building a new market for “Navigation Technology” (NavTech) — tools that provide Americans with personalized solutions to navigate life’s challenges and achieve greater economic mobility — and announced its co-founding team, including two new senior hires.

The fund’s active focus areas are based on extensive research identifying the key experiences and high-stakes decision points that have an outsized impact on American families’ economic mobility. Launched investment areas include financial health, career navigation, and benefits and social services access, with further exploration underway around housing, legal aid, justice and re-entry, and mental and physical health. 

The organization is also today welcoming two senior leaders: Lauren Loktev is joining NextLadder as Managing Director of Investments and Brigitte Hoyer Gosselink as Managing Director of Product. Loktev was most recently a partner at the Collaborative Fund, where she backed several breakout companies in early child development, education, and sustainability. Gosselink comes to NextLadder from Google, where she led the company’s AI and social impact portfolio. They join a growing team which has deep expertise at the intersection of economic mobility, technology, public policy, and philanthropy.

NextLadder’s Focus Areas for Investment

Today, the fund is kicking off a plan to deploy $1 billion over the next seven years to accelerate the design, development, and deployment of accessible NavTech tools that aim to help families more successfully navigate the major life experiences that determine whether they get ahead or fall behind. As NextLadder’s inaugural frontier AI lab partner, Anthropic is supporting the build-out of the organization’s AI-native capabilities and is offering technical assistance to NextLadder’s portfolio organizations. 

As an increasing proportion of Americans across income levels find themselves overextended and overwhelmed, NavTech tools are designed to help individuals and families understand their options, connect to information and resources, and take action to recover from a setback or take advantage of an opportunity and reclaim their economic futures.

“Life is getting harder, and too many Americans are stuck facing some of the most complex and consequential moments of their lives without much support,” said Ryan Rippel, CEO of NextLadder Ventures. “Every day, millions in this country face fork-in-the-road decisions that have major implications on whether they climb up the economic ladder or fall farther behind. AI has understandably intensified many Americans’ anxieties about their jobs and their security in the economy. But these technologies are now also making it possible to deliver highly personalized, affordable tools to meet the needs of tens of millions of Americans in a way that has never been practically achievable or financially viable before. With NavTech tools, built for the reality of families’ everyday experiences, we can empower Americans to overcome setbacks, navigate life’s toughest financial decisions, and build more secure futures.”

NavTech tools, built with the needs of individuals, families, and trusted community partners at the center of their design, have the potential to ease burdens most acutely faced by 90 million Americans who live in households that have difficulty in paying for usual home expenses, and turbocharge the capacity of the 1.6 million community workers in non-profit or local, state, and federal government roles who serve them. This growing category of digital technologies includes tools that help families access opportunities such as personalized financial advice and legal aid, get connected with available resources and programs, and manage unexpected hurdles like losing a job or facing an eviction – while freeing social workers and service providers to spend more time on people and less time on red tape and paperwork.

The fund’s active investment areas include:

Financial Health: Developing highly personalized, AI-powered financial health tools that can provide tailored, sustained counsel to help users build savings and protect and recover from financial shocks;
Career Navigation: Building tools to support career navigation, manage and support career transitions, and help workers, case managers, and employers identify pathways to living wage work — all designed to help people successfully find the right jobs for them.
Benefits & Social Services Access: Helping eligible Americans seamlessly identify and enroll in all the benefits and social services available to them, particularly those that support career navigation and transitions, help them navigate critical life moments, and achieve stability toward economic opportunity.

NextLadder is exploring additional focus areas, including housing, legal aid, justice and re-entry, caregiving, and mental and physical health. More on the organization’s vision of these focus areas is available HERE.

In addition to backing direct NavTech solutions, NextLadder is investing in the developers, partners, and standards required to build a durable, self-sustaining market. Across all focus areas, the fund is prioritizing efforts to ensure NavTech tools are reliable, protect users’ privacy, and are trusted by the families who depend on them.

NextLadder’s Co-Founder Leadership Team

NextLadder’s five co-founders will be CEO Ryan Rippel, Chief Strategy and Operations Officer Rhett Dornbach-Bender, Chief of Staff Callie Schwartz, and the two new senior hires: Managing Director of Investments Lauren Loktev and Managing Director of Product Brigitte Hoyer Gosselink, rounding out the fund’s expertise in investing, technology, and impact.

“We’re thrilled to welcome Lauren and Brigitte to the NextLadder team,” said Rippel. “Brigitte has spent her career proving that when applied purposefully, AI and technology can deliver meaningful benefits for communities, and she’ll set the bar for what NavTech tools can deliver for American families today and in the years to come. And with her deep experience backing mission-driven founders, Lauren is the perfect leader to build our venture practice from the ground up and accelerate the growth of the NavTech field. With this team in place, we’re positioned to make NavTech tools easier to build, fund, and access so they reach the people who need them most.”

Loktev brings 15 years of venture capital experience investing at the intersection of for-profit and for-good. Most recently at Collaborative Fund, she backed several companies to significant scale and launched Collab+Sesame, a first-of-its-kind thematic seed fund in partnership with Sesame Workshop focused on early childhood education. At NextLadder, she will build and lead the fund’s venture practice, sourcing and scaling investments in the founders building the next generation of NavTech tools.

“We have a once in a generation opportunity to help steer AI solutions toward those who need them most,” said Loktev. “Many amazing, accomplished founders see this too, and they are on a mission to build scalable, transformative businesses in the critical verticals that help people navigate life-changing moments. I couldn’t be more excited to join NextLadder and to support the most inspiring leaders building this market from the ground up. Thanks to our unique, long-term mandate, we can be creative and flexible in investing across stage and check size to partner with the entrepreneurs and leaders we believe will change the world.”

Prior to her role at NextLadder, Gosselink spent over a decade at Google in several roles including Director of AI and Social Impact, directing more than $500 million in funding for organizations applying AI to address challenges including crisis response, education, and economic opportunity. At NextLadder, she will lead AI and product strategy across the fund’s portfolio, backing solutions and setting market-wide standards for how NavTech tools are designed, evaluated, and improved over time.

“If we collectively harness the AI transformation strategically and purposefully, we can transform the way Americans are empowered to access greater economic mobility,” said Gosselink. “We believe that people-centered products, combined with shifts in the market and the services available to families, can fundamentally reshape how millions of Americans navigate critical moments and achieve prosperity on their own terms.”

To request interviews from the NextLadder Ventures leadership team, contact media@nextladder.com.

About NextLadder Ventures

NextLadder Ventures is a time-bound venture with one goal: empower millions of Americans to reach their potential by 2040. Backed by over $1 billion in capital, the organization invests in breakthrough technologies that remove barriers to economic success and put people in control of their futures. NextLadder Ventures is trailblazing a new market for tech-enabled Navigation Technology tools that help people access the resources they need to navigate pivotal moments — offering flexible, risk-tolerant capital to entrepreneurs building these transformative tools today, while creating a pipeline of tech, talent, and capital for the long run.

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SOURCE NextLadder Ventures

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