Technology
Baiya International Group Inc. Announces Fiscal Year 2024 Financial Results
Published
12 months agoon
By
SHENZHEN, China, May 13, 2025 /PRNewswire/ — Baiya International Group Inc. (“BIYA” or the “Company”) (Nasdaq: BIYA), a human resource (“HR”) technology company utilizing its cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions, today announced its financial results for the fiscal year ended December 31, 2024.
Ms. Siyu Yang, Chief Executive Officer of BIYA, commented, “We are pleased to report a resilient performance for fiscal year 2024, reflecting our determined efforts to navigate China’s evolving recruitment market. We achieved a remarkable revenue growth of 10.7% despite slow economic recovery and labor market adjustments, driven by our flexible business strategy with a focus on project outsourcing services. As we see expansion opportunities in the rapidly growing logistics and express delivery sectors, we have been examining postal business tender documents, leading to our successful cooperation with new major customers such as Zhaoqing Branch of China Postal Group Limited. As a result of active business expansion among postal companies, revenue from project outsourcing increased by 26.6%, accounting for 99.7% of our total revenue.”
Ms. Yang continued, “Our gross profit grew by 75.4%, underscoring the effectiveness and resilience of our strategic initiatives. At the same time, we took active steps to reduce operating expenses while increasing investment in sales efforts. These measures significantly improved our financial performance, turning a net loss into a positive net income for fiscal year 2024. With such proactive strategies, we believe that we are now better positioned to explore high-margin subsectors that can support a sustainable growth trajectory. Looking ahead, we remain committed to our core strategy while remaining alert to new opportunities as China’s economy gradually recovers. We plan to continue to improve the Gongwuyuan Platform to deliver high-quality job matching and HR related services in the flexible employment marketplace. We are confident that our resilient approach, combined with strong client relationship management, will continue to support our long-term growth and deliver value to our shareholders.”
Fiscal Year 2024 Financial Highlights
Net revenues were $12.8 million in fiscal year 2024, an increase of 10.7% from $11.6 million in fiscal year 2023.Gross profit was $1.4 million in fiscal year 2024, an increase of 75.4% from $0.8 million in fiscal year 2023.Net income was $6,687 in fiscal year 2024, compared to net loss of $1.1 million in fiscal year 2023.Basic and diluted net income per common share were $0.00 in fiscal year 2024, compared to basic and diluted loss per common share of $0.10 in fiscal year 2023.
Fiscal Year 2024 Financial Results
Net Revenues
Net revenues were $12.8 million in fiscal year 2024, an increase of 10.7% from $11.6 million in fiscal year 2023.
Revenue from entrusted recruitment service was $0.04 million in fiscal year 2024, a decrease of 97.2% from $1.5 million in fiscal year 2023. The decrease was primarily attributed to the delayed effects of China’s stringent preventive measures against the COVID-19 pandemic, which have increased the challenges of economic recovery.Revenue from project outsourcing service was $12.8 million in fiscal year 2024, an increase of 26.6% from $10.1 million in fiscal year 2023. The increase was primarily due to the outsourcing revenues from the Company’s major customers, $3.2 million increase from Zhaoqing Branch of China Postal Group Limited, $1.3 million increase from Guangdong Yingwang Industrial Investment Limited (“Yingwang”), and $0.7 million increased from Zhongshan Branch of China Postal Express & Logistics Co., Ltd, which was partly offset by $0.5 million decreased from Zhongshan Branch of China Postal Group limited and $2.0 million decreased revenue from Nanchang Jiesite Cleaning and Environmental Protection Limited (“Jiesite”).Revenue from other services was $3,050 in fiscal year 2024, an increase of 155.6% from $1,193 in fiscal year 2023. During fiscal year 2024, the revenue generated from other services mainly represents software revenue of $3,050. During fiscal year 2023, the revenue generated from other services mainly represents software revenue of $1,193. In November 2019, Gongwuyuan launched enterprise version of its cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions on the Gongwuyuan Platform to supplement its offline services.
Cost of Revenues
Total cost of revenue was $11.4 million in fiscal year 2024, an increase of 5.8% from $10.8 million in fiscal year 2023.
Gross Profit
Gross profit was $1.4 million in fiscal year 2024, an increase of 75.4% from $0.8 million in fiscal year 2023. The increase was mainly due to the $0.7 million increase in gross profit from project outsourcing service, which was partly offset by the $0.1 million decrease in gross profit from entrusted recruitment service.
Operating Expenses
Total operating expenses were $1.3 million in fiscal year 2024, a decrease of 11.7% from $1.5 million in fiscal year 2023. The change was mainly due to a decrease of $0.2 million in general and administrative expenses and a decrease of $62,369 in research and development expenses, which were partly offset by an increase of $87,458 in selling expenses.
Selling expenses were $0.2 million in fiscal year 2024, an increase of 68.8% from $0.1 million in fiscal year 2023. The increase was primarily due to the $0.1 million increase in bidding service fee, which was offset by the $21,807 decrease in commission expenses and $13,384 decrease in salary and related welfare expenses of salesperson.General and administrative expenses were $0.9 million in fiscal year 2024, a decrease of 18.6% from $1.1 million in fiscal year 2023. The decrease in general and administrative expenses were mainly due to decreased bad debt expense by $0.1 million, decreased rental expense by $75,817, decreased employee salaries and welfare expenses by $63,769 due to the decrease of headcount in administration function, decreased consulting and professional service fees by $33,707, which offset by increased other G&A expense by $89,071.Research and development expenses were $0.2 million in fiscal year 2024, a decrease of 20.8% from $0.3 million in fiscal year 2023.
Net Income (Loss)
Net income was $6,687 in fiscal year 2024, compared to net loss of $1.1 million in fiscal year 2023. The decrease in net loss in 2024 mainly resulted from increased gross profit by $0.6 million, decreased operating expenses by $0.2 million, and decreased other expenses by $0.3 million in fiscal year 2024.
Basic and Diluted Net Income (Loss) per Common Share
Basic and diluted net income per common share were $0.00 in fiscal year 2024, compared to basic and diluted loss per common share of $0.10 in fiscal year 2023.
Financial Condition
As of December 31, 2024, the Company had cash of $1.7 million, compared to $0.03 million as of December 31, 2023.
Net cash provided by operating activities in fiscal year 2024 was $1.6 million, compared to net cash used in operating activities of $1.8 million in fiscal year 2023.
Net cash provided by financing activities in fiscal year 2024 was $0.08 million, compared to net cash used in financing activities of $0.5 million in fiscal year 2023.
Recent Development
On March 24, 2025, the Company completed its initial public offering (the “Offering”) of 2,500,000 ordinary shares at a public offering price of $4.00 per share. The gross proceeds were $10.0 million, before deducting underwriting discounts and estimated offering expenses. The Company’s ordinary shares began trading on the Nasdaq Capital Market on March 21, 2025, under the ticker symbol “BIYA.”
About Baiya International Group Inc. (“Baiya”)
Baiya has evolved from a job matching service provider into a cloud-based internet platform to provide one-stop crowdsourcing recruitment and SaaS-enabled HR solutions on the Gongwuyuan Platform to supplement its offline job matching services and started to position itself as a SaaS-enabled HR technology company by introducing its Gongwuyuan Platform in the flexible employment marketplace. Baiya has been and will continue to strategically develop and improve the Gongwuyuan Platform with product features that work together with its traditional offline service model to improve the job matching and HR related services in the flexible employment marketplace.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this press release are “forward-looking statements” as defined under the federal securities laws, including, but not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Forward-looking statements can be identified by terms such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate”, or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the United States Securities and Exchange Commission (“SEC”).
For further information, please contact:
Baiya International Group Inc.
Investor Relations Department
Phone: +86 0769-88785888
Email: info@biyainc.com
Investor Relations Inquiries:
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
BAIYA INTERNATIONAL GROUP INC.
CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. Dollars, except for the number of shares)
As of
December 31,
2024
2023
ASSETS
CURRENT ASSETS
Cash
$
1,668,291
$
31,973
Accounts receivable, net
1,648,073
3,692,078
Due from related parties
40,549
2,811,786
Deferred offering costs
889,160
668,651
Prepaid expense and other current assets
177,325
237,958
Loan receivable from third parties, current
—
75,797
Total current assets
4,423,398
7,518,243
NON-CURRENT ASSETS
Property and equipment, net
1,872
2,373
Right-of-use asset, net
49,356
4,015
Loan receivable from third parties, non-current
443,787
98,560
Other non-current assets
33,017
—
Total noncurrent assets
528,032
104,948
TOTAL ASSETS
$
4,951,430
$
7,623,191
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable
$
1,662,594
$
2,835,982
Loan payable to third parties, current
164,399
140,800
Advance from customers
29,675
30,498
Accrued liabilities and other payables
2,057,865
1,966,483
Taxes payable
146,239
264,671
Due to related parties
170,855
1,040,009
Lease liability
8,422
9,661
Bank loan payables, current
117,345
623,878
Total current liabilities
4,357,394
6,911,982
NON-CURRENT LIABILITIES
Lease liability
43,972
1,025
Loan payable to third parties, non-current
—
28,160
Bank loan payables, non-current
—
87,707
Total non-current liabilities
43,972
116,892
TOTAL LIABILITIES
$
4,401,366
$
7,028,874
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Preferred shares, par value $0.0001, 100,000,000 shares authorized, nil shares issued and outstanding as of December 31, 2024 and 2023, respectively
—
—
Ordinary common shares, par value $0.0001, 400,000,000 shares authorized, 10,000,000 shares issued and outstanding as of December 31, 2024 and 2023, respectively
1,000
1,000
Additional paid-in capital
1,796,285
1,775,951
Statutory Reserve
380,901
325,223
Accumulated other comprehensive loss
(221,139)
(153,429)
Accumulated deficit
(1,456,778)
(1,392,350)
Total Company shareholders’ equity
500,269
556,395
Non-controlling interest
49,795
37,922
Total shareholders’ equity
550,064
594,317
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$
4,951,430
$
7,623,191
BAIYA INTERNATIONAL GROUP INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Expressed in U.S. Dollars, except for the number of shares)
For the years ended
December 31,
2024
2023
2022
Net revenues
$
12,809,211
$
11,574,877
$
13,161,560
Cost of revenues
11,401,940
10,772,530
11,635,220
Gross profit
1,407,271
802,347
1,526,340
Operating expenses
Selling expenses
214,672
127,214
243,937
General and administrative expenses
890,089
1,093,703
2,205,442
Research and development expenses
238,150
300,519
479,218
Total operating expenses
1,342,911
1,521,436
2,928,597
Profit/(loss) from operations
64,360
(719,089)
(1,402,257)
Other income (expenses)
Interest expense, net
(31,510)
(24,030)
(55,640)
Government subsidy income
5,823
33,654
190,944
Other expenses, net
(3,456)
(321,112)
(39,307)
Other (expenses)income
(29,143)
(311,488)
95,997
Income/(loss) before income tax
35,217
(1,030,577)
(1,306,260)
Less: income tax expense
28,530
32,239
23,421
Net income/(loss)
6,687
(1,062,816)
(1,329,681)
Less: net income/(loss) attributable to non-controlling interests
15,437
(45,739)
(65,578)
Net loss attributable to common shareholders of Baiya International Group Inc.
$
(8,750)
$
(1,017,077)
(1,264,103)
Comprehensive income/(loss)
Net income/(loss)
$
6,687
$
(1,062,816)
(1,329,681)
Other comprehensive loss
Foreign currency translation loss
(71,274)
(46,538)
(214,064)
Total other comprehensive loss
(71,274)
(46,538)
(214,064)
Total comprehensive loss
(64,587)
(1,109,354)
(1,543,745)
Less: comprehensive income/(loss) attributable to non-controlling interests
11,874
(48,095)
(76,303)
Comprehensive loss attributable to common shareholders of Baiya International Group Inc.
$
(76,461)
$
(1,061,259)
(1,467,442)
Net income/(loss) per common share
Basic and diluted*
$
0.00
$
(0.10)
$
(0.13)
Weighted average number of common shares outstanding
Basic and diluted*
10,000,000
10,000,000
10,000,000
*
Retrospectively restated for effect of share reorganization
BAIYA INTERNATIONAL GROUP INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. Dollars, except for the number of shares)
For the years ended
December 31,
2024
2023
2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income/(loss)
$
6,687
$
(1,062,816)
$
(1,329,681)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation expense
443
799
2,139
Allowances for credit losses
(43,859)
121,899
844,053
Amortization of operating lease right-of-use assets
11,693
139,592
177,843
Deferred income tax, net
—
5,818
(3,298)
Changes in operating assets and liabilities:
Accounts receivable, net
1,972,340
(1,331,193)
704,945
Advance to suppliers, net
—
40,371
(141,522)
Due from related parties
894,107
(900,702)
760,214
Prepaid expense and other current assets
126,918
(138,659)
29,877
Accounts payable
(1,112,598)
1,117,916
(312,815)
Advance from customers
—
—
(21,619)
Accrued liabilities and other payables
(165,046)
175,063
(182,184)
Taxes payable
(105,398)
33,247
(96,177)
Lease liability
(1,530)
(2,448)
(25,135)
Net cash (used in) provided by operating activities
1,583,757
(1,801,113)
406,640
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from loans-bank
55,434
—
1,728,334
Due to related parties
938,382
(416,209)
1,330,285
Repayments to loans-bank
(638,745)
(31,224)
(944,416)
Proceeds from third party loan
(278,083)
—
(184,029)
Advance to third party loan
—
(60,716)
—
Net cash (used in) provided by financing activities
76,988
(508,149)
1,930,174
EFFECT OF EXCHANGE RATE CHANGES ON CASH
(24,427)
(62,935)
(67,132)
NET (DECREASE) INCREASE IN CASH
1,636,318
(2,372,197)
2,269,682
CASH, BEGINNING OF YEAR
31,973
2,404,170
134,488
CASH, END OF YEAR
$
1,668,291
$
31,973
$
2,404,170
Supplemental disclosure information of cash flow:
Cash paid for income tax
$
4,543
$
15,090
$
55,299
Cash paid for interest
$
36,724
$
63,042
56,883
Supplemental non-cash information:
Right of use assets obtained in exchange for operating lease liability
$
3,038
$
4,985
$
—
Due from related party offset with due to related party upon execution of offset agreement
$
1,812,949
—
—
View original content:https://www.prnewswire.com/news-releases/baiya-international-group-inc-announces-fiscal-year-2024-financial-results-302454549.html
SOURCE Baiya International Group Inc.
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BTQ Technologies’ QSSN Selected as Core Security Infrastructure for South Korea’s First Bank-Led KRW Stablecoin Proof-of-Concept
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May 6, 2026By
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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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
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Technology
NextLadder Ventures Announces Co-Founder Leadership Team, Investment Focus Areas For Over $1 Billion Initiative Empowering Americans with Personalized, Tech-Enabled Support Tools
Published
11 hours agoon
May 6, 2026By
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.
SOURCE NextLadder Ventures
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