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Velo3D Announces First Quarter 2025 Financial Results

Published

12 months ago

on

Revenue of $9.3 millionGross margin of 7.5%Backlog of $18 million as of March 31, 2025Reaffirms expectation for 2025 annual revenue growth of more than 30%Reaffirms expectation to be EBITDA positive in the first half of 2026

FREMONT, Calif., May 13, 2025 /PRNewswire/ — Velo3D, Inc. (OTCQX: VLDX), a leader in additive manufacturing (AM) technology known for transforming aerospace and defense supply chains through world-class metal AM, today announced financial results for its first quarter ended March 31, 2025. 

Recent Business Developments

Demand mix shift to Rapid Production Services (RPS) underwayRPS backlog increased 3x as compared to year-end 2024New customers represented more than 75% of 1Q’25 bookings50% demand from defense sectorSigned a five-year, $15 million master services agreement (MSA) with Momentus, Inc.to leverage to RPS OfferingSigned a five-year exclusive supply agreement with Amaero Advanced Materials & Manufacturing, Inc. (“Amaero”) advancing efforts to re-shore advanced manufacturing and accelerate the adoption of additive manufacturingReceived an order for a fourth Sapphire XC printer from Mears Machine Corporation to support the continued development of aerospace and industrial-related programsAnnounced an agreement with Ohio Ordinance Works, Inc. to provide RPS as part of its 3D Printed Military Weapons Development initiative.Appointed retired U.S. Army Green Beret, Brice Cooper, as Vice President of Defense and Government RelationsAppointed retired Navy Rear Admiral Jason Lloyd and Kenneth Thieneman to Board of DirectorsUpgraded to OTCQX® Best Market from the Pink® market

“Momentum is building across our business as we implement a number of strategic initiatives that we believe position Velo3D for sustainable, long-term growth and a return to profitability,” said Arun Jeldi, CEO of Velo3D. “We are seeing early results from our new go-to-market strategy, which is gaining significant traction with both new and existing customers, particularly in the defense and aerospace industries where domestic supply chain resiliency is a priority.”

Jeldi, continued, “A $15 million, five-year MSA with Momentus, along with our exclusive supply agreement with Amaero, further validates our RPS offering and underscores our expanding role in reshoring critical manufacturing capabilities in the U.S. RPS is designed to address the growing demand for scalable, high-quality parts by providing a seamless path from design to production. It reduces design cycles, accelerates production qualification and ensures consistent output through a U.S.-based supply chain. Awareness and interest are accelerating among top-tier companies in defense, aerospace and technology, and we believe RPS could account for up to 40% of our revenue by 2026.”

Jeldi continued, “We further strengthened our leadership team with the appointment of retired U.S. Army Green Beret Brice Cooper as Vice President of Defense and Government Relations and welcomed Rear Admiral Jason Lloyd and Kenneth Thieneman to our Board of Directors. Their deep industry and defense expertise will be instrumental as we expand our presence in key strategic markets.”

Jeldi, concluded, “With a number of initiatives in motion, we believe we are in a strong position to execute our strategy and reclaim our leadership in additive manufacturing. We are already seeing measurable improvements in performance and expect sequential quarterly progress throughout 2025.”

($ in Millions, except percentages and per-share data)

1st Quarter 2025

1st Quarter 2024

GAAP revenue

$9.3

$9.8

GAAP gross margin

7.5 %

(28.8) %

GAAP net loss1

($25.4)

($28.3)

GAAP net loss per share – basic and diluted

($0.13)

($3.81)

Non-GAAP net loss2

($8.9)

($20.2)

Non-GAAP net loss per share – basic and diluted2

($0.04)

($2.71)

Information about Velo3D’s use of non-GAAP information, including a reconciliation to U.S. GAAP, is provided at the end of this release under “Non-GAAP Financial Information”.  The non-GAAP financial measures presented in this release should not be considered as the sole measure of the company’s performance and should not be considered in isolation from, or as a substitute for, comparable financial measures calculated in accordance with generally accepted accounting principles accepted in the United States.Non-GAAP net loss and non-GAAP net loss per diluted share exclude stock-based compensation expense, gain on exchange of debt for common stock, fair value adjustments for the Company’s warrants, contingent earnout and debt derivative and loss on extinguishment of debt.

Summary of First Quarter 2025 Results 

Revenue was $9.3 million. System revenue decreased compared to the first quarter of 2024, driven by a modest decrease in the number of printer sales, consistent with our strategy of maintaining Average Selling Price (ASP) by targeting high-value customers. While system sales are expected to remain the primary driver of revenue in 2025, the company anticipates that, under its new go-to-market strategy, its RPS parts production business will contribute an increasing share of revenue beginning in the second half of the year. 

Gross margin for the first quarter was 7.5% compared to negative 28.8% in the first quarter of 2024. The improvement is a result of continued Build of Materials (BOM) cost reduction as well as manufacturing process optimization. The company expects gross margin to improve throughout 2025 as a result of operational efficiencies and an anticipated ramp-up of its Rapid Production Solutions business. 

Operating expenses for the first quarter were $12.6 million compared to $18.6 million in the first quarter of 2024. Non-GAAP operating expenses, which excludes stock-based compensation expense of $3.9 million, were $8.8 million, down from $14.1 million in the first quarter of 2024. 

GAAP net loss for the first quarter was $25.4 million compared to a loss of $28.3 million in the first quarter of 2024. 

Non-GAAP net loss was $8.9 million in the three months ended March 31, 2025, which excludes the non-cash loss from the warrant cancellation transaction that eliminated significant future liabilities. Adjusted EBITDA for the quarter was negative $6.9 million. For more information regarding the company’s non-GAAP financial measures, see “Non-GAAP Financial Information” below.

As of March 31, 2025, the Company had $3.9 million of cash and cash equivalents, compared to $1.2 million as of December 31, 2024.

Guidance

Management expects the following for the full year 2025:

Revenue in the range of $50 million to $60 million.Sequential improvement in gross marginGreater than 30% gross margin in fourth quarter of 2025Non-GAAP operating expenses in the range of $40 million to $50 millionCapEx in the range of $15 million to $20 millionEBITDA positive in the first half of 2026

Conference Call

The company will host a conference call for investors this afternoon to discuss its first quarter 2025 financial results at 5 p.m. Eastern time / 2 p.m. Pacific time on May 13, 2025. The call will be webcast and can be accessed from the Events page of the Investor Relations section of Velo3D’s website at ir.velo3d.com.

About Velo3D:

Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.

Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy, and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The fully integrated solution includes the Flow print preparation software, the Sapphire family of printers, and the Assure quality control system—all of which are powered by Velo3D’s Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research. Velo3D has been named as one of Fast Company’s Most Innovative Companies for 2024. For more information, please visit Velo3D.com, or follow the company on LinkedIn or Twitter.

VELO, VELO3D, SAPPHIRE and INTELLIGENT FUSION, are registered trademarks of Velo3D, Inc.; and WITHOUT COMPROMISE, FLOW and ASSURE are trademarks of Velo3D, Inc. All Rights Reserved © Velo3D, Inc.

Amounts herein pertaining to the company’s first quarter ended March 31, 2025 results represent a preliminary estimate as of the date of this earnings release and may be revised upon filing of our Quarterly Report on Form 10-Q with the Securities and Exchange Commission (the “SEC”). Additional information on our results of operations for the three months ended March 31, 2025 will be provided upon the filing our Quarterly Report 10-Q with the SEC.

Forward-Looking Statements:

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the company’s guidance for fiscal years 2025 and 2026 (including the company’s estimates for revenue and gross margin), the company’s expectations regarding its ability to achieve profitability in the first half of 2026, the company’s expectations about future demand, the company’s strategic realignment and initiatives, the company’s expectations regarding its liquidity and capital requirements, the company’s expectations regarding its potential cost savings, the company’s expectations about its market strategy and financial and operational position, and the company’s other expectations, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “FY 2024 10-K”) and the other documents filed by the company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability of the company to execute its business plan, which may be affected by, among other things, competition, the company’s liquidity position//lack of available cash, the ability of the company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its key employees; (2) the company’s ability to continue as a going concern; (3) the company’s ability to service and comply with its indebtedness; (4) the company’s ability to raise additional capital in the near-term; (5) the possibility that the company may be adversely affected by other economic, business, and/or competitive factors; (6) changes in the applicable laws and regulations, and (7) other risks and uncertainties described in the FY 2024 10-K, including those under “Risk Factors” therein, and in the company’s other filings with the SEC. The company cautions that the foregoing list of factors is not exclusive and not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. 

Non-GAAP Financial Information

The information in the table below sets forth the non-GAAP financial measures that the company uses in this release. We believe these non-GAAP financial performance and liquidity measures are helpful in identifying trends in our day-to-day performance because the items excluded have little or no significance on our day-to-day operations. These measures provide an assessment of core expenses and afford management the ability to make decisions which are expected to facilitate meeting current financial goals as well as achieve optimal financial performance.

Each of our non-GAAP measures have limitations as analytical tools. Because of these limitations, “Non-GAAP Net Loss”, “EBITDA”, “Adjusted EBITDA” and “Non-GAAP Operating Expenses”, should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. The company compensates for these limitations by relying primarily on its GAAP results and using Non-GAAP Net Loss, EBITDA, Adjusted EBITDA, and Non-GAAP Operating Expenses on a supplemental basis. You should review the reconciliation of the non-GAAP financial measures below and not rely on any single financial measure to evaluate the company’s business.

The following tables reconcile Net income (loss) to Non-GAAP Net Loss, EBITDA, and Adjusted EBITDA and Total Operating Expenses to Non-GAAP Operating Expenses during the periods below:

Velo3D, Inc.

NON-GAAP Net Loss Reconciliation

(Unaudited)

Three months ended

March 31, 2025

December 31, 2024

March 31, 2024

(In thousands, except for percentages)

% of Rev

% of Rev

% of Rev

Revenue

$

9,320

100.0

%

$

12,626

100.0

%

$

9,786

100.0

%

Gross Profit

697

7.5

%

(444)

(3.5)

%

(2,815)

(28.8)

%

Net Loss

$

(25,411)

(272.7)

%

$

(21,686)

(171.8)

%

$

(28,314)

(289.3)

%

Stock-based compensation

4,074

43.7

%

2,322

18.4

%

5,087

52.0

%

Gain on exchange of debt for common stock

–

—

%

(2,619)

(20.7)

%

–

—

%

(Gain) loss on fair value of warrants

1,044

11.2

%

(184)

(1.5)

%

2,620

26.8

%

Loss on fair value of contingent earnout liabilities

–

—

%

–

—

%

437

4.5

%

Loss on warrant cancellation

11,357

121.9

%

–

—

%

–

—

%

Non-GAAP Net Loss

$

(8,936)

(95.9)

%

$

(22,167)

(175.6)

%

$

(20,170)

(206.1)

%

 

Velo3D, Inc.

NON-GAAP Adjusted EBITDA Reconciliation

(Unaudited)

Three months ended

March 31, 2025

December 31, 2024

March 31, 2024

(In thousands, except for percentages)

% of Rev

% of Rev

% of Rev

Revenue

$

9,320

100.0

%

$

12,626

100.0

%

$

9,786

100.0

%

Net Loss

(25,411)

(272.7)

%

(21,686)

(171.8)

%

(28,314)

(289.3)

%

Interest expense

1,070

11.5

%

3,048

24.1

%

3,897

39.8

%

Provision for income taxes

8

0.1

%

(20)

(0.2)

%

4

0.0

%

Depreciation and amortization

942

10.1

%

968

7.7

%

1,396

14.3

%

EBITDA

$

(23,391)

(251.0)

%

$

(17,690)

(140.1)

%

$

(23,017)

(235.2)

%

Stock-based compensation

4,074

43.7

%

2,322

18.4

%

5,087

52.0

%

Gain on exchange of debt for common stock

–

—

%

(2,619)

(20.7)

%

–

—

%

(Gain) loss on fair value of warrants

1,044

11.2

%

(184)

(1.5)

%

2,620

26.8

%

Loss on fair value of contingent earnout liabilities

–

—

%

–

—

%

437

4.5

%

Loss on warrant cancellation

11,357

121.9

%

–

—

%

–

—

%

Restructuring expense

–

—

%

3,540

28.0

%

–

—

%

Adjusted EBITDA

$

(6,916)

(74.2)

%

$

(14,631)

(115.9)

%

$

(14,873)

(152.0)

%

 

Velo3D, Inc.

NON-GAAP Adjusted Operating Expenses Reconciliation

(Unaudited)

Three months ended

March 31, 2025

December 31, 2024

March 31, 2024

(In thousands, except for percentages)

% of Rev

% of Rev

% of Rev

Revenue

$

9,320

100.0

%

$

12,626

100.0

%

$

9,786

100.0

%

Operating expenses

Research and development

1,212

13.0

%

3,082

24.4

%

5,043

51.5

%

Selling and marketing

2,275

24.4

%

1,627

12.9

%

4,809

49.1

%

General and administrative

9,131

98.0

%

16,348

129.5

%

8,783

89.8

%

Total operating expenses

$

12,618

135.4

%

$

21,057

166.8

%

$

18,635

190.4

%

Stock-based compensation in operating expenses

3,866

41.5

%

2,322

18.4

%

4,503

46.0

%

Adjusted operating expenses

$

8,752

93.9

%

$

18,735

148.4

%

$

14,132

144.4

%

 

Velo3D, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In thousands, except share and per share data)

Three Months Ended March 31,

2025

2024

Revenue

3D Printer

$

7,523

$

7,660

Recurring payment

—

470

Support services

1,790

1,656

Other

7

—

Total Revenue

9,320

9,786

Cost of revenue

3D Printer

7,540

9,394

Recurring payment

12

315

Support services

1,071

2,892

Total cost of revenue

8,623

12,601

Gross loss

697

(2,815)

Operating expenses

Research and development

1,212

5,043

Selling and marketing

2,275

4,809

General and administrative

9,131

8,783

Total operating expenses

12,618

18,635

Loss from operations

(11,921)

(21,450)

Interest expense

(1,070)

(3,897)

Loss on fair value of warrants

(1,044)

(2,620)

Loss on fair value of contingent earnout liabilities

—

(437)

Loss on warrant cancellation

(11,357)

—

Other income (expense), net

(11)

94

Loss before provision for income taxes

(25,403)

(28,310)

Provision for income taxes

(8)

(4)

Net loss

$

(25,411)

$

(28,314)

Net loss per share:

    Basic

$

(0.13)

$

(3.81)

    Diluted

$

(0.13)

$

(3.81)

 

Velo3D, Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except share and per share data)

March 31,

December 31,

2025

2024

Assets

Current assets:

Cash and cash equivalents

$

3,870

$

1,212

Accounts receivable, net

4,569

3,723

Inventories, net

46,133

49,953

Contract assets

1,295

500

Prepaid expenses and other current assets

5,907

2,336

Total current assets

61,774

57,724

Property and equipment, net

13,691

14,270

Equipment on lease, net

3,673

3,673

Other assets

12,261

13,513

Total assets

$

91,399

$

89,180

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$

16,365

$

18,538

Accrued expenses and other current liabilities

3,762

3,511

Debt – current portion

16,152

5,666

Contract liabilities

7,614

10,285

Total current liabilities

43,893

38,000

Long-term debt – less current portion

5,506

—

Contingent earnout liabilities

11

11

Warrant liabilities

13

2,167

Other noncurrent liabilities

9,094

9,338

Total liabilities

58,517

49,516

Commitments and contingencies (Note 13)

Stockholders’ equity:

Common stock, $0.00001 par value - 500,000,000 shares authorized at March 31, 2025
and December 31, 2024, 210,232,762 and 194,909,430 shares issued and outstanding as
of March 31, 2025 and December 31, 2024, respectively

4

4

Additional paid-in capital

488,623

469,994

Accumulated other comprehensive loss

—

—

Accumulated deficit

(455,745)

(430,334)

Total stockholders’ equity

32,882

39,664

Total liabilities and stockholders’ equity

$

91,399

$

89,180

 

Velo3D, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands)

Three Months Ended March 31,

2025

2024

Cash flows from operating activities

Net loss

$

(25,411)

$

(28,314)

Adjustments to reconcile net loss to net cash used in operating activities

Depreciation and amortization

942

1,396

Amortization of debt discount and deferred financing costs

992

3,171

Stock-based compensation

4,074

5,087

Loss on fair value of warrants

1,044

2,620

Loss on fair value of contingent earnout liabilities

—

437

Loss on warrant cancellation

11,357

—

Changes in assets and liabilities

Accounts receivable

(846)

(2,070)

Inventories

1,989

2,645

Contract assets

(795)

(2,118)

Prepaid expenses and other current assets

(3,407)

1,078

Other assets

1,224

396

Accounts payable

(860)

(4,199)

Accrued expenses and other liabilities

251

(218)

Contract liabilities

(2,671)

(416)

Other noncurrent liabilities

(232)

(18)

Net cash used in operating activities

(12,349)

(20,523)

Cash flows from investing activities

Purchase of property and equipment

—

(6)

Production of equipment for lease to customers

—

(1)

Proceeds from maturity of available-for-sale investments

—

3,500

Net cash provided by investing activities

—

3,493

Cash flows from financing activities

Proceeds from secured convertible notes

15,000

—

Issuance of common stock upon exercise of stock options

—

285

Net cash provided by financing activities

15,000

285

Effect of exchange rate changes on cash and cash equivalents

7

5

Net change in cash and cash equivalents

2,658

(16,740)

Cash and cash equivalents and restricted cash at beginning of period

1,840

25,294

Cash and cash equivalents and restricted cash at end of period

$

4,498

$

8,554

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the total of such amounts shown on the condensed consolidated statements of cash flows:

March 31,

2025

2024

Cash and cash equivalents

$

3,870

$

7,754

Restricted cash (Other assets)

628

800

Total cash and cash equivalents and restricted cash

$

4,498

$

8,554

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SOURCE Velo3D, Inc.

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Technology

Kuaishou Technology to Report 2026 First Quarter Financial Results on May 27, 2026

Published

22 minutes ago

on

May 6, 2026

By

HONG KONG, May 6, 2026 /PRNewswire/ — Kuaishou Technology (“Kuaishou” or the “Company”; HKD Counter Stock Code: 01024 / RMB Counter Stock Code: 81024), a leading content community and social platform, today announced that it will report its unaudited consolidated first quarterly results for the three months ended March 31, 2026, after the Hong Kong market closes on Wednesday, May 27, 2026.

The Company’s management will host a conference call on Wednesday, May 27, 2026, at 7:00 PM Beijing Time (7:00 AM U.S. Eastern Time) to discuss the results.

Participants are required to pre-register for the conference call at:

Chinese Line (Mandarin):
https://s1.c-conf.com/diamondpass/10054245-xi6ksd.html

English Simultaneous Interpretation Line (listen-only mode):
https://s1.c-conf.com/diamondpass/10054246-wl3yqp.html

Participants can choose between the Chinese and English simultaneous interpretation options for pre-registration above. Please note that the English simultaneous interpretation option will be in listen-only mode. Upon registration, participants will receive an email containing conference call dial-in details, event passcode, and a unique registrant ID. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.

Additionally, live, and archived webcasts of the conference call, for both Chinese and English simultaneous interpretation, will be available on the Company’s investor relations website at https://ir.kuaishou.com.

Replays of the conference call will be available until June 3, 2026 via the following dial-in details:

Dial-in Numbers

Mainland China:

400 1209 216

Hong Kong:

800 930 639

US/Canada:

1855 883 1031

Chinese conference ID:

10054245

English simultaneous interpretation conference ID:

10054246

About Kuaishou

Kuaishou is a leading content community and social platform in China and globally, committed to becoming the most customer-obsessed company in the world. Kuaishou uses its technological backbone, powered by cutting-edge AI technology, to continuously drive innovation and product enhancements that enrich its service offerings and application scenarios, creating exceptional customer value. Through short videos and live streams on Kuaishou’s platform, users can share their lives, discover goods and services they need and showcase their talent. By partnering closely with content creators and businesses, Kuaishou provides technologies, products, and services that cater to diverse user needs across a broad spectrum of entertainment, online marketing services, e-commerce, local services, gaming, and much more. For more information, please visit https://ir.kuaishou.com.

For investor and media inquiries, please contact:

Kuaishou Technology
Investor Relations
Email: ir@kuaishou.com

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SOURCE Kuaishou Technology

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Technology

Mox Breaks Even in Q1 2026 amid Strengthening Profitability Outlook, Launches Mox+ Wealth Solutions and Mox Invest Upgrades

Published

1 hour ago

on

May 6, 2026

By

Bringing Wealth Within Reach of all in Hong Kong

HONG KONG, May 6, 2026 /PRNewswire/ — Mox Bank Limited (“Mox” or “the Bank”), on the back of delivering a financial breakeven quarter for Q1 2026, today announced the launch of Mox+. This wealth solution is engineered for Hong Kong’s young professionals and emerging affluent and will be a driver of sustainable profitability for the Bank. Mox+ combines wealth capabilities with curated lifestyle benefits, marking Mox’s evolution from everyday banking to a comprehensive wealth partnership.

The financial achievement was driven by robust momentum across all business lines and achieving a significant milestone demonstrates the success of the accessible business model which after 5 years is now used and valued by over 750,000 customers in Hong Kong.

Barbaros Uygun, CEO of Mox, said, “Achieving financial breakeven for the first quarter of 2026 on the back of a strong 2025 set of results, shows our direction of travel. We have the momentum to drive positive change, providing wealth opportunities to all in Hong Kong and do so in a profitable manner. Our client-centric business model is proving that it is the right one for sustainable profitability. 

Our digital wealth management platform serves as a trusted partner for our over 750,000 customers at every stage of life, empowering them to manage their finances with confidence and unlock new possibilities. We are entering a new chapter of growth as we continue to expand our product portfolio and wealth management offerings, with the launch of Mox+ being one such initiative.”

He continued, “To support this evolution, we are evolving into an AI-native bank, doubling our operational capacity through a strategic human-bot partnership, equipping every staff member with a personalised AI assistant to deliver even greater service and efficiency.”

Mox+ members enjoy preferential fees and charges on Mox Invest and preferential pricing on foreign exchange, enhanced deposit rates (3.5% p.a. up to HKD5 million), as well as priority customer support and early access to experiences and new products. These benefits can be gained simply by maintaining an average daily balance of HKD 600,000 or above across all deposits and investments which will lead to automatic qualification for Mox+ for the following month. The programme integrates financial advantages with lifestyle benefits—including curated dining rebates, free hotel stays, Starbucks coffee vouchers, health benefits and exclusive member experiences—reflecting Mox’s belief that wealth building should be both strategic and rewarding.

Jayant Bhatia, Chief Business Officer of Mox, commented, “At Mox, we are dedicated to establishing the financial well-being of Hongkongers. Designed and tailored for Hong Kong’s young professionals and emerging affluent segment, which is underserved in Hong Kong, Mox+ offers solutions for daily savings and preferential wealth management service fees for long-term wealth creation as well as rewarding lifestyle benefits. This is strategically significant as one of our key initiatives to drive business growth and make Wealth Within Reach for Hongkongers.”

Throughout 2025, Mox has already strengthened its product portfolio with new solutions in Mox Invest. The Mox Invest platform saw trading volumes increasing to 2.4 times and assets under management (AUM) growing to 2.6 times that of last year. More than 10% of Mox customers have opened a Mox Invest account, reflecting strong demand for its wealth solutions driven by new products and services. In 2026, we will continue our momentum in launching new and innovative products and services and are already scaling up to serve the next generation of wealth builders in Hong Kong. Having already recently launched a crypto trading service, Mox Invest is set to introduce an IPO subscription service later this year.

The Bank has clear reasons for continuing to develop wealth management products. The “Wealth Behaviours: Insights into how individuals are saving and investing” survey conducted by Mox in collaboration with Ipsos revealed that Hongkongers continue to take a conservative approach to investing, with 63% of their liquid assets kept in cash and deposits – a trend that contributes to “cash drag” and limits potential wealth growth. More than two-thirds of respondents indicated they require an average of 5.6 months to save up to their desired investment threshold and typically delay investing their savings by a further 2.75 months on average, resulting in missed opportunities for long-term wealth accumulation[1]. This survey will continue as an ongoing research initiative to deepen our understanding of Hongkonger’s wealth management behaviours and enable the Bank to develop tailored solutions that puts wealth within reach.

After Mox was amongst the first wave of banks in Asia to offer a crypto trading service, Mox Invest now further offers One Click Investments (a simplified process for buying equities based on themes such as AI, technology, amongst others), Trading Signals, and gives customers access to professional  fund strategies including Signature CIO funds developed in partnership between Standard Chartered Bank CIO office and Amundi. The Signature CIO funds offer four different type of funds based on individuals’ risk appetite which could be Conservative, Income, Balanced or Growth. Customers also have options amongst a wide range of funds offered by other world-class fund houses.

A Track Record of Rapid Scale and Adoption in the Last 5 Years

Since its launch in September 2020, Mox has brought to the market more than 15 market-first products or services and achieved significant scale with over 750,000 customers, reflecting the trust and growing preference of Hong Kong consumers for a seamless digital banking experience. To date, Mox customers have driven a cumulative spend of HKD70 billion, supported by a robust volume of 176 million card transactions and approximately 2 billion Asia Miles earned through Mox Card and other banking services. Its commitment to delivering tangible value to customers is further evidenced by the HKD2 billion distributed in cash rewards.

Beyond daily spending, Mox has become central to its customers’ financial lives, facilitating approximately 50 million outward FPS transfers and more than 5 million bill payments. As a preferred companion for travelers, the Mox Card has been used over 31 million times in overseas transactions, contributing to a total of 250 million app engagements as we continue to redefine digital banking for the Hong Kong community.

To learn more about Mox, please visit: mox.com.

About Mox Bank Limited (“Mox”) 
Mox is a pioneering digital bank licensed in Hong Kong, and a registered institution (CE number: BNO808) powered by Standard Chartered in partnership with PCCW, HKT and Trip.com. Launched in September 2020, Mox is reimagining banking, unlock more of life’s possibilities, and setting global benchmarks for digital banking from Hong Kong.   

Mox is well on track to be the number one digital bank for cards, lending and wealth. In 2026, it was awarded as Best Pure-Play Digital Bank for CX in Hong Kong and Outstanding Digital CX in Banking App/ Platform by The Digital Banker Digital CX Awards. It was also recognised as NeoBank of the Year, Retail Banking, Hong Kong and Best Retail Banking Experience, Hong Kong by The Asset Triple A Digital Finance Awards. In 2025, Mox is ranked as the number one digital bank in Hong Kong in Neobank Ranking 2025 by The Banker, a publication by Financial Times. It was also awarded the Best Digital Bank in Hong Kong by The Asian Banker for three consecutive years, and the Digital Bank of the Year in Hong Kong by Asian Banking & Finance for two years in a row. It was also recognised as one of Asia’s Top 5 mobile banking app and the number one Hong Kong digital banking app in Sia Partners’ 2025 International Mobile Banking Benchmark. Mox Credit Card held its position as the seventh-largest credit card portfolio among all retail banks in Hong Kong[2]. Through a scalable platform, lower cost-to-serve, top-notch customer experience and the unique promise of safe, simple, smart, and fun banking, Mox has found immense affinity among Hong Kong customers: Mox app is the top-rated Hong Kong digital banking app in Apple App Store in Hong Kong[3], scoring 4.8 out of 5. Mox’s influence extends beyond Hong Kong, as shown by the company’s technology and know-how being transferred to Trust Bank in Singapore. 

Join us in shaping the future of banking.

Follow Mox on mox.com, Facebook, Instagram, Threads, LinkedIn and YouTube for our latest updates.

[1] The “Wealth Behaviours: Insights into how individuals are saving and investing” study was conducted in collaboration with Ipsos and it surveyed 2,500 working adults with a monthly household income above HKD15,000 in Hong Kong between August 2025 and April 2026.

[2] According to TransUnion’s Market Insights and Intelligence Dashboard (MIID) for the period from January to December 2025.

[3] As of the period from 28 January 2025 to 5 May 2026.

 

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SOURCE Mox Bank Limited

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UK Students Recognised in National AI Investment Challenge

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May 6, 2026

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University teams apply AI to real-world investment problems, with Lancaster University team taking the top prize.

LONDON, May 6, 2026 /PRNewswire/ — CFA Institute, the global association of investment professionals, has announced the winner of its inaugural AI Investment Challenge, with the top prize awarded to a student team from Lancaster University.

Some 28 teams from 15 universities took part in the competition.

Delivered by CFA Institute and CFA Society UK, the competition brought together students from universities across the United Kingdom to tackle real investment challenges using artificial intelligence. The focus was on practical application, responsible use, and real-world relevance. 

Finalists came from Durham University, Heriot-Watt University, Lancaster University, University of Exeter, and University of Manchester. 

Teams presented AI-powered solutions to a range of industry challenges, from assessing how carbon pricing affects portfolio values to analysing large volumes of company disclosures and extracting insights from company earnings calls. The winning team from Lancaster University impressed judges with its design of a Disclosure Degradation Detection System – an early-alert tool for analysts that monitors upstream exposure to disclosure risk by analysing company and supplier filings for increasingly vague, complex, or weakening language.

Peter Watkins, Head of University Relations, CFA Institute, said:

“It’s encouraging to see how quickly students can apply technical skills to real investment problems. The strongest teams combined solid analysis with a clear understanding of how AI can be used responsibly in practice. This reflects where the investment industry is heading, with professionals expected to use new technologies effectively while continuing to apply sound human judgement.”

Nick Bartlett, CFA, ASIP, Chief Executive, CFA Society UK, adds:

“It’s been great to see students from across the UK take part. Opportunities like this help people build practical skills, make connections in the industry, and gain confidence in applying what they’ve learned. Bridging that gap between education and industry is increasingly important, as the skills needed for a career in the investment profession continue to evolve.” 

The winning team members from Lancaster University are Connor O’Keeffe, Ebro Dossajee, and Bradley McCann.  

Connor O’Keeffe, speaking on behalf of the winning team, said: 

“The CFA Institute AI Investment Challenge gave us the chance to work on a real investment problem and engage directly with industry professionals. Presenting our work and receiving feedback has been invaluable, and we’re proud to bring first place back to Lancaster. It’s been a great experience for the whole team.”

Steve Young, Professor of Accounting at Lancaster University Management School, commented:

“The AI Investment Challenge is a fabulous initiative from CFA Institute that helps students formulate and execute artificial intelligence solutions to assist investment analysis professionals, and we are thrilled that Brad, Connor, and Ebro have been able to make such a positive contribution to the competition. Congratulations to all teams involved and thank you to CFA Institute and CFA Society UK for organising such an inspiring event.” 

The competition was judged on practical relevance, quality of analysis, innovation in the use of AI, responsible use of technology, and clarity of presentation. The final was judged by a panel of six investment industry professionals based in the UK. 

University representatives and students can opt-in to be the first to hear about future AI Investment Challenge events via Information Waitlist.

Notes to Editors

The AI Investment Challenge was held on Thursday 30 April 2026 in London.

First, second, and third-place teams received prizes of £2,000, £1,200, and £800, respectively. In addition, all finalist team members received a CFA Program Access Scholarship and the opportunity to showcase their work on CFA Institute platforms. 

More information about the AI Investment Challenge is available here: CFA Institute AI Investment Challenge. 

About CFA Institute
As the global association of investment professionals, CFA Institute sets the standard for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors’ interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across 160 markets, CFA Institute has 8 offices and 157 local societies. Find us at www.cfainstitute.org or follow us on LinkedIn, and subscribe on YouTube.

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