Technology

VTech Announces FY2025 Annual Results

Published

1 year ago

May 14, 2025

Higher revenue on growth in Europe and Other Regions

Group revenue rose 1.5% to US$2,177.2 million as Gigaset sales consolidatedGross profit margin of 31.5%, up from 29.6% in FY2024Profit attributable to shareholders of the Company decreased 5.9% to US$156.8 millionFinal dividend of US44.0 cents per ordinary share, resulting in a full-year dividend of US61.0 cents per ordinary share, a decrease of 6.2% from the previous financial yearSuccessful integration of GigasetVertical integration and global manufacturing footprint enable VTech to remain resilient in evolving tariff situationStrong financial position

HONG KONG, May 14, 2025 /PRNewswire/ — VTech Holdings Limited (HKSE: 303) today announced its results for the year ended 31 March 2025.

“VTech reported an increase in revenue in the financial year 2025 despite an increasingly challenging business environment. Sales in Europe rose following the integration of Gigaset Technologies GmbH (Gigaset), augmented by growth in Other Regions. This offset lower sales in North America and Asia Pacific. Profit declined owing to lower operating profit, as total operating expenses rose. The Group has continued to diversify its production globally, mitigating the effects of the recently announced tariffs on imports to the US,” said Mr. Allan Wong, Chairman and Group CEO of VTech Holdings Limited.

Results and Dividend

Group revenue for the year ended 31 March 2025 increased by 1.5% to US$2,177.2 million, from US$2,145.7 million in the previous financial year. Higher sales in Europe and Other Regions offset lower sales in North America and Asia Pacific. The higher revenue in Europe was due to the consolidation of Gigaset sales following the acquisition of the assets of GST Communications GmbH on 5 April 2024.

Profit attributable to shareholders of the Company decreased by 5.9% to US$156.8 million. The decline in profit was mainly due to lower operating profit, as total operating expenses rose. This was primarily due to the integration of the Gigaset operations, which resulted in correspondingly higher selling and distribution costs, administrative and other operating expenses, as well as research and development (R&D) expenses.

Basic earnings per share decreased by 6.1% to US62.0 cents, compared to US66.0 cents in the financial year 2024.

The Board of Directors has proposed a final dividend of US44.0 cents per ordinary share, providing a full-year dividend of US61.0 cents per ordinary share, a 6.2% decrease from the US65.0 cents declared in the previous financial year. This represents a dividend payout ratio of 98.5%.

Costs

The Group’s gross profit margin in the financial year 2025 rose to 31.5%, as compared with 29.6% in the financial year 2024. This was due to three factors. Cost of materials was lower as material prices declined. There was a positive change in the product mix and there was a gross profit contribution from Gigaset. These factors offset several negative developments. Direct labour costs and manufacturing overheads rose owing to the expansion of the factory workforce following the integration of workers at the Gigaset factory in Germany. The Group also ramped up production and increased inventory levels to optimise capacity utilisation at its production facilities, further increasing direct labour costs and manufacturing overheads. Cost increases were exacerbated by higher freight rates and tariff costs as compared with the previous financial year. These impacts offset the effect of a depreciation of the Renminbi and further improvements in productivity.

Impact of US Tariffs

Beginning in 2018, the US introduced a series of tariffs for goods made in mainland China. In response, VTech has been diversifying its manufacturing footprint, starting in the same year with its first facility outside mainland China in Muar, Malaysia. This expansion has continued, with the acquisition of an additional facility in Penang, Malaysia in 2020 and in Tecate, Mexico, in 2021. The acquisition of Gigaset in 2024 extended the Group’s manufacturing operations to Bocholt, Germany.

In 2025, US tariffs have been expanded to cover imports from nearly all countries, alongside additional tariffs targeting Chinese goods. Faced with these uncertainties, VTech is accelerating the relocation of its production of US bound products away from mainland China. This migration started with contract manufacturing services (CMS) in 2018, followed by telecommunication (TEL) products in 2020. Transfer of electronic learning products (ELPs) production is now in progress. The Group is aiming to complete the transfer of its production of US bound products away from mainland China within 2026.

Segment Results

North America

Group revenue in North America decreased by 3.2% to US$893.1 million in the financial year 2025, as higher sales of ELPs were offset by declines in TEL products and CMS. North America became VTech’s second largest market, accounting for 41.0% of Group revenue.

ELPs revenue in North America increased by 7.0% to US$444.9 million. Sales rose in both the US and Canada as the toy markets stabilised in the calendar year 2024. VTech was able to take full advantage of this improvement as the new leadership team in the US successfully implemented a revitalised sales and marketing strategy, boosting growth. Both standalone and platform products registered higher sales and VTech strengthened its leadership in electronic learning toys from infancy through toddler to preschool in the US in the calendar year 2024[1]. In Canada, sales also grew as VTech branded products achieved higher sales and VTech regained its number one position in the infant, toddler and preschool toys category in the calendar year 2024[2].

There were higher sales of standalone products for both the VTech and LeapFrog brands. For VTech, growth in preschool products, the Kidi® line and KidiZoom® cameras offset lower sales of infant and toddler products, the Go! Go! Smart family of products, Switch & Go® Dinos and Marble Rush®. LeapFrog saw higher sales of infant, toddler and preschool products, eco-friendly toys and the Magic Adventures® series, with the successful roll-out of Magic Adventures Binoculars contributing additional revenue. This offset lower sales of LeapLand Adventures™.

In platform products, both the LeapFrog and VTech brands registered higher sales. LeapFrog sales were pushed higher by children’s educational tablets, interactive reading systems and Magic Adventures Globe. Subscriptions to LeapFrog Academy™, however, posted a decline. At VTech, sales of Touch & Learn Activity Desk™ increased and a new generation of smartwatch, KidiZoom Smartwatch DX4, boosted sales of this popular product line. These increases offset a decline for KidiBuzz™.

In March 2025, the Group launched an exciting line-up of new VTech and LeapFrog products at Toy Fair 2025, expanding its popular baby, infant, toddler and preschool categories. VTech reinforced its commitment to fostering developmental milestones through play with six new products. These included Explore & Write Deluxe Activity Desk™, an interactive learning desk that combines touch-sensitive technology with engaging content to help children learn letters, numbers, shapes and more. LeapFrog’s four new items included those blending physical activity with engaging educational experiences, while others incorporated scientifically-based approaches to phonics, vocabulary and comprehension instruction to develop reading skills. Touch & Learn eReader™, for example, features ten built-in stories that can be read aloud, encouraging early learners to follow along with the words on screen.

In total, the Group earned over 60 industry awards and from trusted parenting websites, toy industry experts, toy advisory boards and major retailers during the financial year 2025. In the US, VTech’s Sort & Discover Activity Wagon™ was named to Walmart’s “2024 Top Toys List” and KidiZoom Smartwatch DX4 made Target’s “2024 Bullseye’s Top Toys” list. Sort & Discover Activity Wagon was named a “Parents Best Toys Award Winner”, alongside three more of the Group’s ELPs. VTech’s Go! Go! Smart Wheels® Checkered Flag Motorised Track Set™ and LeapFrog’s Magic Adventures Binoculars were made Toy of the Year (TOTY) Finalists by the Toy Association. In Canada, Sort & Discover Activity Wagon and the Go! Go! Smart Wheels Checkered Flag Motorised Track Set were named to Walmart and Toys”R”Us “2024 Top Toys” lists respectively.

TEL products revenue in North America fell by 11.0% to US$178.8 million in the financial year 2025, as sales in all three product categories declined.

Sales of residential phones were lower, as the US residential phones market saw further contraction. Despite this, VTech remained the number one US cordless phone brand[3] and launched a new range of AT&T phones in the financial year 2025. The Group also achieved success in expanding sales through online channels.

Commercial phones and smartphones experienced a decline in sales, despite growth in hotel phones and headsets. Orders for SIP (Session Initiation Protocol) phones fell as a customer lost market share in the face of strong competition. This offset the good performance of hotel phones, where VTech gained market share. Sales in this category were boosted by a new series of competitively priced models with sleek styling that was launched during the financial year 2025, as well as increasing sales of thermostats for the hotel channel. Headsets also reported modest growth, as a customer increased orders.

Other telecommunication products also posted a sales decrease. Sales of baby monitors contracted as competition rose, while those of CareLine® residential phones fell owing to weak demand. This offset modest growth in integrated access devices (IADs), as a customer increased orders. Nonetheless, VTech retained its position as the number one baby monitor brand in the US and Canada during the financial year 2025[4]. VTech was named as the most trusted baby monitor brand in the “BrandSpark Most Trusted Awards 2025” in both the US and Canada. In the US, the Group’s baby monitors won two “Baby Maternity Awards”, including the “2024 Top Choice Award”, and two “Motherhood Loves Community Awards”. Two VTech brand baby monitors also gained the “Parent Tested Parent Approved Seal of Approval” in Canada.

CMS sales in North America decreased by 11.9% to US$269.4 million in the financial year 2025. There were lower sales of professional audio equipment, solid-state lighting and of IoT (Internet of Things) products, despite gaining a new customer. This offset higher sales of industrial products.

Professional audio equipment reported lower sales as a slow economy led to a drop in end-user demand, resulting in sales decreases for power amplifiers and audio mixers. Over-inventory at a key customer led to a reduction in orders for professional loudspeakers. Solid-state lighting experienced a decline as the number of projects fell because of the slowing economy. IoT products reported lower sales as a customer experienced a financial issue, offsetting gains from new orders for smart basketball hoop game consoles. In contrast, industrial products posted growth as a sales contribution from a new customer in smart water leakage detectors offset a decline in PCBA (printed circuit board assembly) for coin and note recognition machines. During the financial year 2025, the CMS facility in Tecate, Mexico became fully operational, offering full-turnkey EMS (electronic manufacturing services) capability to customers. VTech has been assisting customers affected by the new US tariff policy to transfer their production there.

In the financial year 2025, VTech CMS gained two US awards in recognition of its outstanding services, namely a “Pathfinder Award” from a professional audio equipment customer and a “Strategy Vendor 2024” award from the new IoT products customer.

Europe

Group revenue in Europe increased by 8.2% to US$960.7 million in the financial year 2025, as higher sales of TEL products offset declines for ELPs and CMS. Europe became VTech’s largest market, accounting for 44.1% of Group revenue.

ELPs revenue in Europe fell by 2.7% to US$307.0 million, with declines in both standalone and platform products. Sales declined in France, Germany and the Benelux countries, affected by slow economic growth and a weak Euro. This offset rises in the UK, where there was a sales increase at a major e-tailer, and Spain, where the Group saw higher sales at its key customers. In Italy, sales continued to grow following the establishment of a sales office in the country in 2023. In the calendar year 2024, VTech remained the number one infant and toddler toys manufacturer in France, the UK, Germany, Spain, Belgium and the Netherlands[5].

In the standalone category, growth in the LeapFrog brand was offset by a decline for VTech. At LeapFrog, infant and toddler products saw higher sales, boosted by the successful launch of Magic Adventures Binoculars. By contrast, sales of eco-friendly toys were stable, while those of preschool products and LeapLand Adventures declined. VTech achieved higher sales of infant, toddler and preschool products, as well as the Kidi line. However, these gains were insufficient to compensate for lower sales of the Toot! Toot! family of products, KidiZoom cameras, Marble Rush, electronic learning aids and Switch & Go Dinos.

For platform products, growth in LeapFrog was offset by a decline for VTech. At LeapFrog, sales of Magic Adventures Globe were higher, while those of interactive reading systems remained stable. For VTech, sales of children’s educational tablets, KidiZoom Smartwatch, the KidiCom® range and Touch & Learn Activity Desk were all lower.

The Group’s ELPs won numerous awards across Europe during the financial year 2025, encompassing a wide array of products. In the UK, VTech’s Kidi DJ Drums and Sort & Discover Activity Wagon, as well as LeapFrog’s My 1st Phonics: Spin & Learn, each won a “Gold Award” in the “MadeForMums Toy Awards 2024”. In France, V-Bot Explorer, Mon robot 5 en 1 (5-in-1 Make-a-Bot™) and Genius XL – Jumelles vidéo interactives (Magic Adventures Binoculars) were awarded “Grands Prix du Jouet 2024” by La Revue du Jouet magazine. VTech was also named the “Best Toy Brand 2025” (La marque de jouets pour enfants) in France by the organisation Marques et familles. VTech and LeapFrog products gained similar accolades in other European markets. There were “Toy of the Year 2024” awards for Kidi DJ Drums and Sew & Style Kitty Bag/Unicorn Bag from the Dutch and Belgian Toy Associations respectively. The Spanish Toy Association named both Magic Adventures Binoculars and Marble Rush Storage Box “Best Toy of the Year 2024” in different categories.

Revenue from TEL products in Europe increased by 173.8% to US$211.4 million in the financial year 2025. Residential phones, commercial phones and smartphones, as well as other telecommunication products all recorded sales increases.

Residential phones saw sales move higher. The growth was driven by the revenue contribution from Gigaset, following the acquisition of the assets of GST Communications GmbH on 5 April 2024, as well as increased sales of VTech branded phones in the UK. The Gigaset brand performed especially well in Germany, Austria, Switzerland and Belgium, allowing it to maintain its leadership position in the European residential DECT (Digital Enhanced Cordless Telecommunications) phone market[6]. The solid sales performance was underpinned by the Gigaset Comfort 550 and A690 models, which offer elegant design, ease-of-use and attractive features such as long talk time and hearing aid compatibility. In the UK, VTech branded cordless phones continued to make good progress as the Group broadened its distribution channels and achieved higher sales via a major e-tailer.

The category of commercial phones and smartphones also recorded growth in the financial year 2025. This was mainly attributable to the consolidation of Gigaset revenue, comprising mainly sales of Gigaset’s multicell DECT system, augmented by those of smartphones, a new category for VTech. Hotel phones also reported higher sales. These increases offset a decline for Snom branded SIP phones.

The Gigaset multicell DECT system supports Microsoft Teams, Asterisk, Broadsoft, 3CX and more. Its alarm, messaging and location feature is unique in the market and makes it particularly attractive to companies with employees working in environments such as warehouses, hospitals and factories. Gigaset’s smartphones comprise powerful entry-level and mid-range models, together with accessories, as well as those tailored to specific user groups such as seniors and those working outdoors. Sales of hotel phones increased as the Group added new distribution channels and expanded into more European markets. Sales of Snom branded SIP phones declined, however, as they were affected by the slow market conditions.

Recognising market requirements, the final quarter of the financial year 2025 saw a new entry-level version of the popular Snom D8 series introduced to cater to different customers. In addition, three new SIP desksets were added to the Gigaset professional ranges, completing its product line-up. Ranging from a compact all-round device to a Wi-Fi connected premium model with a 5-inch LCD (liquid crystal display) colour display, the new models have been well-received by the market.

Other telecommunication products posted higher sales. Growth in baby monitors offset declines in CAT-iq handsets and CareLine residential phones, while sales of IADs were immaterial. Higher sales of baby monitors were driven by good performances in the UK and France. Sales of CAT-iq handsets and CareLine residential phones were affected by lower orders from ODM customers due to subdued end-user demand. During the financial year 2025, VTech retained its position as the number one baby monitor brand in the UK[7]. VTech was named as the number one baby monitor brand in the “UK Newsweek/BrandSpark Most Trusted Awards”[8]. In the UK, the Group’s baby monitors won four “LovedbyParents” awards and a “Project Baby Award”. There were also four “Dadsnet Awards 2024”, including “Gold Winner (Best Technology Product)” for the RM7768HD Baby Monitor.

CMS revenue in Europe fell by 10.7% to US$442.3 million. Lower sales of professional audio equipment, hearables, communication products and smart energy storage systems offset higher sales of IoT products and automotive products. Sales of home appliances and medical and health products were stable.

In professional audio equipment, sales of home audio interface products were lower. This resulted from weak market demand and an unsuccessful new product launch by a customer. Hearables sales decreased as the customer lost market share. Sales of communication products were affected by lower orders for wireless routers as the customer over-stocked inventory prior to moving production to a new location. Smart energy storage systems were impacted by the removal of subsidies by the Swedish government and higher competition. On the positive side, IoT products grew on rising orders for internet connected thermostats and air-conditioning controls, as the customer successfully increased sales by selling directly to businesses. Sales of automotive products also increased, with orders for EV (electric vehicle) chargers rising as VTech gained market share.

During the financial year 2025, VTech CMS won six supplier awards in Europe. There were two “Best Supplier 2024” awards and one “Supplier of the Year 2024” award given by professional audio equipment customers, a “Partner of the Year 2024” award and “Best Supplier 2024” award from IoT products customers and a “Preferred Supplier 2024” award from an automotive products customer.

Asia Pacific

Group revenue in Asia Pacific fell by 5.3% to US$300.9 million in the financial year 2025, as sales of all three product lines declined. The region accounted for 13.8% of Group revenue.

Revenue from ELPs in Asia Pacific decreased by 2.3% to US$68.8 million. Sales declined in Australia, Hong Kong SAR and South Korea, which offset growth in mainland China. In Australia, sales experienced a slight decline as an increase for the VTech brand was offset by a decrease for LeapFrog. In the calendar year 2024, VTech maintained its position as the number one manufacturer of electronic learning toys from infancy through toddler to preschool in the country[9]. Sales in Hong Kong SAR fell because of lower sales to a key customer, while the underperformance of a distributor led to the decline in South Korea. In mainland China, online sales showed growth, offsetting a decline in offline channels.

During the financial year 2025, VTech’s Snugglepillar was awarded the “Plush Product of the Year” by the Australian Toy Association. Six products also made Amazon Australia’s “2024 Top 100 Toy List”, namely VTech’s KidiZoom Duo FX, Scooter Time Bluey, Sort & Discover Activity Wagon, Tasty Treats Axolotl, V-Bot® and LeapFrog’s Magic Adventures Binoculars. In mainland China, Turbo Edge Riders™ and Marble Rush Sky Elevator Set™ won the Sustainability Award and Innovative Design Award respectively from CBME (Children Baby Maternity Expo) mainland China, while the Fly & Learn Globe™ was named “Innovative Product of the Year” in the “Cherry Awards 2024”.

TEL products revenue in Asia Pacific decreased by 12.2% to US$18.7 million owing to lower sales in Australia and Japan. In Australia, sales declined because of lower sales of residential phones and baby monitors. In Japan, sales were affected by reduced orders for residential phones from an ODM customer.

CMS sales in Asia Pacific decreased by 5.6% to US$213.4 million, with lower sales of professional audio equipment, communication products and medical and health products. This was despite sales contributions from new Chinese customers in home appliances and IoT products. Professional audio equipment was affected by a slowdown in the market for DJ equipment as the market softened. In communication products, orders for marine radios fell as the customer continued to transfer production back in-house to Japan to take advantage of the weaker Japanese yen. Medical and health products declined on lower orders for diagnostic ultrasound systems as the customer lost market share in mainland China. The Group did, however, acquire new customers in mainland China in the areas of cooking robots and smart rings.

During the financial year 2025, VTech CMS earned a “Certificate of Appreciation” from a professional audio equipment customer in Asia Pacific.

Other Regions

Group revenue in Other Regions, comprising Latin America, the Middle East and Africa, rose by 31.6% to US$22.5 million in the financial year 2025. The increase was due to higher sales of ELPs and TEL products. Other Regions accounted for 1.1% of Group revenue.

ELPs revenue in Other Regions increased by 6.9% to US$9.3 million as growth in Latin America and the Middle East offset a decline in Africa.

TEL products revenue in Other Regions rose by 57.1% to US$13.2 million. The increase was attributable to sales growth in Latin America and the Middle East, offsetting a decrease in Africa. This included a sales contribution from Gigaset.

CMS revenue in Other Regions was immaterial in the financial year 2025.

Outlook

As the challenges to global manufacturing posed by US tariff policy intensify, VTech’s vertical integration and global manufacturing footprint enable it to remain resilient in evolving tariff situation. The Group’s advantageous position arises from its strong balance sheet and fully integrated operations across Asia, Europe and Americas, which are enabling it rapidly to realign its supply chain. Additionally, VTech’s diversified product lines, respected brands and robust global sales network will support its growth worldwide.

To mitigate tariff effects, VTech is accelerating the relocation of its production of US bound products to Malaysia, Mexico and Germany. In the US, some tariff costs will be passed on through higher prices, using tailored pricing strategies developed in negotiation with retailers. The Group is also focusing on expanding its sales in emerging markets.

The volatile US tariff situation and the negative economic outlook are impacting Group revenue, which is now forecast to decline in the financial year 2026. Customers are placing orders more cautiously, while US consumers are increasingly focusing on essential purchases in response to rising retail prices.

Gross profit margin is projected to be largely stable. Cost of materials is likely to remain little changed owing to weakening global demand. Labour costs and manufacturing overheads are predicted to be higher, as wages at the Group’s manufacturing facilities have recently increased. Logistics costs are also expected to rise. These cost increases, along with the increased tariff costs, will be offset by higher prices, a more favourable product mix and stronger European currencies.

ELPs revenue in the financial year 2026 is expected to decline due to the US tariff policy. Although sales outside the US are anticipated to increase, this will be offset by a decline in the US market. The Group is nevertheless targeting growth in its market share globally. An exciting range of innovative new products will support sales worldwide. Standalone products will see expansions of the core learning category, licensed products portfolio and ever-popular Kidi line. Platform products will be strengthened by a brand-new motion-based learning platform, a revamped interactive reading system and a new generation of Touch & Learn Activity Desk.

Sales of TEL products are forecast to grow in the financial year 2026, as the synergies with Gigaset ramp up. To drive residential phones sales, a new range of DECT phones is being developed to target the high-end segment. Commercial phones and smartphones will see a new series of Gigaset single cell DECT phones, as well as new Gigaset smartphones designed for government bodies and other institutions that have strong privacy and security requirements. These will reach the shelves in the second quarter of the financial year 2026. The Group’s leadership in baby monitors will be strengthened by the addition of models with AI features that will be available by September 2025. Geographically, the Group will invest in developing markets for its TEL products in Eastern Europe. Gigaset has a well-established distribution network across Europe and the Group will support expansion by creating product lines tailored to these markets.

CMS revenue is projected to decrease in the financial year 2026 because of a generally weak global economy and rising geopolitical uncertainty. This is despite the success VTech has had in shielding itself and its customers from the effect of the US tariffs. Customers have become much more conservative when placing orders owing to the high degree of uncertainty about the global economy and political developments. The Group is actively helping affected customers to transfer their production to its facilities in Malaysia and Mexico, where the roll-out of i4.0 will raise productivity levels. To keep pace with demand, further expansion of the facilities in Muar, Malaysia is planned. VTech CMS will also build on its recent success in acquiring customers in mainland China and offering more design support to customers.

“With a strong balance sheet, a global manufacturing footprint, recognised brands, and diverse product ranges supported by a robust global sales network, VTech is well-positioned for sustainable growth in the years ahead,” said Mr. Wong.

[1] Circana, LLC, Retail Tracking Service. Ranking based on total retail sales of VTech and LeapFrog products in the combined toy categories of Early Electronic Learning, Toddler Figures/Playsets & Accessories, Preschool Electronic Learning, Electronic Entertainment (excluding Tablets) and Walkers for the 12 months ended December 2024

[2] Circana, LLC, Retail Tracking Service, January – December 2024

[3] Circana, LLC, Retail Tracking Service, Cordless Phone, Dollars, January 2020 – December 2024

[4] Circana, LLC, Retail Tracking Service, US & CA, Tech, Baby Monitors, Dollar and Unit Sales, April 2024 – March 2025 Combined vs April 2023 – March 2024 Combined

[5] Circana, LLC, Retail Tracking Service, January – December 2024

[6] Gfk Retail and Technology UK Limited. Based on period January – December 2024

[7] GfK Retail and Technology UK Limited. Based on period April 2024 – March 2025

[8] The UK Newsweek/BrandSpark Most Trusted Awards survey, January 2025

[9] Circana, LLC, Retail Tracking Service, Ranking based on total retail sales of VTech and LeapFrog products in the combined toy categories of Early Electronic Learning, Toddler Figures/Playsets & Accessories, Preschool Electronic Learning, Electronic Entertainment (excluding Tablets) and Walkers for the 12 months ended December 2024

About VTech

VTech is the global leader in electronic learning products from infancy through toddler and preschool and the world’s largest supplier of residential phones. It also provides highly sought-after contract manufacturing services. Its culture of integrity, accountability and innovation guides the company towards a sustainable future.

Established in 1976, VTech has been the pioneer in the electronic learning toy category and its products incorporate advanced educational expertise and cutting-edge innovation. The Group’s telecommunication products elevate home and business users’ experience through the latest in technology and design. As a leading electronic manufacturing service provider, VTech offers full turnkey services in facilities that are moving towards Industry 4.0 manufacturing.

With a global workforce of over 20,000 employees in 19 countries and regions, VTech maintains R&D centres, manufacturing operations and sales subsidiaries across the Americas, Europe and Asia. Its products are sold in over 90 countries and regions, through partnerships with leading retailers, prominent e-commerce companies and distributors worldwide.

Shares of VTech Holdings Limited are listed on The Stock Exchange of Hong Kong Limited (HKSE: 303).

Note: Starting from 22:00, 14 May 2025 (HKT), the webcast of the results announcement can be accessed through VTech website via this link www.vtech.com/en/investors/results-reports/.

View original content to download multimedia:https://www.prnewswire.com/news-releases/vtech-announces-fy2025-annual-results-302455423.html

SOURCE VTech

Technology

/C O R R E C T I O N — MDA Space/

Published

53 minutes ago

June 19, 2026

In the news release, MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC, issued 19-Jun-2026 by MDA Space over PR Newswire, we are advised by the company that a change has been made. The complete, corrected release follows:

MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC

Expands Total Addressable Market for MDA SpacePositions company to further pursue substantial US defence market opportunitiesAdds a profitable, cash-generating business with 18-year historyTransaction expected to be accretive to Adjusted EBITDA1 and Adjusted EPS1 in 2027Adds high-quality spacecraft and satellite component supplier business and US$3.5B (approx. C$4.9B) to pipelineComplementary technology and customer setAdds key talent & manufacturing facilities in Denver, Colorado space & aerospace hub

TORONTO, June 19, 2026 /PRNewswire/ – MDA Space Ltd. (TSX:MDA) (NYSE:MDA) (the “Company”), a trusted mission partner to the rapidly expanding global space industry, has signed a definitive agreement to acquire 100% of the membership interests of Blue Canyon Technologies LLC in an all-cash transaction for a purchase price and enterprise value of US$620 million (approximately C$874 million), subject to purchase price adjustments. Blue Canyon Technologies (BCT) is a spacecraft and satellite component manufacturer and mission services provider, currently part of RTX’s Raytheon business.

With more than 85 spacecraft launched and 3,500+ products on orbit, BCT has established impressive flight heritage and mission success since the company was founded in 2008. Once completed, the transaction is expected to provide MDA Space with a strategic business and manufacturing footprint to capitalize on growing demand in the US government market for defence space missions. With over 400 highly skilled employees and two manufacturing facilities in the Denver, Colorado space and aerospace hub, BCT offers a diverse and innovative product portfolio that enables a broad range of missions for the space economy.

“The acquisition of Blue Canyon Technologies is expected to accelerate our growth strategy by increasing our US market opportunities with highly complementary capabilities, local manufacturing footprint and a skilled and specialized talent base,” said Mike Greenley, CEO of MDA Space. “Securing those strategic benefits on an accretive basis with a profitable and cash-generating business makes this an ideal fit for MDA Space expansion and continued shareholder value creation.”

Transaction Details

The transaction will add a profitable, cash-generating business that is expected to be accretive to Adjusted EBITDA and Adjusted EPS in 2027. With an 18-year history, BCT is a high-quality spacecraft and satellite component supplier that will add US$3.5B (approximately C$4.9B) to our opportunity pipeline. The transaction is expected to close by the end of 2026, subject to customary closing conditions and required regulatory approvals, and is fully committed and financed at signing through senior secured debt. As part of our ongoing capital allocation framework, we will evaluate opportunities to optimize our capital structure over time, subject to market conditions and broader capital deployment priorities. This transaction is expected to result in 2026 pro forma leverage within our stated target range of 1.5x to 2.5x net debt to last twelve months adjusted EBITDA.

Conference Call

MDA Space will host a conference call and webcast to discuss the transaction on Friday, June 19, 2026 at 8:30 a.m. ET. Interested parties can join the call by dialing 1-416-945-7677 (Toronto area) or 1-888-699-1199 (toll-free North America) or +44-800-279-7040 (toll-free United Kingdom) and entering the conference ID 30111. A live webcast of the conference call and an accompanying slide presentation will be available at https://mda-en.investorroom.com/events-presentations.

A replay of the webcast will be archived on the MDA Space Investor Relations website following the call. Parties may also access a recording of the call, which will be available until June 26, 2026, by dialing 1-888-660-6345 and entering the passcode 30111#.

FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the company’s current expectations regarding future events. Such forward-looking information includes, but is not limited to, information with respect to the Company’s objectives and strategies to achieve these objectives, as well as information with respect to the Company’s beliefs, plans, expectations, anticipations, estimates, intentions and views of future events, including statements regarding the proposed acquisition, the anticipated timing for the closing of the acquisition, the anticipated benefits, synergies and growth opportunities expected to result from the acquisition, and any projected, estimated or forecasted financial information presented in connection therewith. There can be no assurance that: (i) the acquisition will be completed on the anticipated timeline, or at all, and the closing of the acquisition may be delayed or may not occur within the anticipated timeframe or at all; (ii) the conditions to the closing of the acquisition will be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the failure to obtain any such approvals or satisfy any such conditions could delay or prevent the closing of the acquisition; (iii) any projected, estimated or forecasted financial information presented in connection with the acquisition will be achieved, as such projections are based on assumptions that may prove to be incorrect, and actual results may differ materially from those projected, estimated or forecasted; and (iv) the anticipated strategic benefits, growth opportunities and synergies described in connection with the acquisition will be realized as expected, or at all, as such benefits may take longer to realize than anticipated, may be more costly to achieve than expected, or may not be realized at all.

All forward-looking statements are based on assumptions and analyses made by MDA Space in light of management’s experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties and other factors which may cause the actual results, performance or achievements of MDA Space to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risk that the acquisition will not be completed on the anticipated timeline or at all, the risk that conditions to the closing of the acquisition will not be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the risks and uncertainties detailed under the “Risk Factors” section of MDA Space’s annual information form dated March 4, 2026. Although MDA Space believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect and there can be no assurance that actual results will be consistent with the forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information included within this press release. These forward-looking statements speak only as of the date of this news release. Except as required by law, MDA Space is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

ABOUT MDA SPACE
Building the space between proven and possible, MDA Space (TSX:MDA) (NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission — bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we’ll take you there. For more information, visit mda.space.

SOCIAL MEDIA
LinkedIn: LinkedIn.com/company/MDAspace
X: X.com/MDA_space
Facebook: Facebook.com/MDAspace
YouTube: YouTube.com/c/MDAspace
Instagram: instagram.com/MDA_space

1 Non-IFRS measure

Correction: The MDA logo has been exchanged for the MDA Space logo.

View original content to download multimedia:https://www.prnewswire.com/news-releases/mda-space-announces-definitive-agreement-to-acquire-us-based-blue-canyon-technologies-llc-302805322.html

SOURCE MDA Space

Technology

BSE Index Services launches BSE Saatvik 100 Index

Published

53 minutes ago

June 19, 2026

MUMBAI, India, June 19, 2026 /PRNewswire/ — BSE Index Services Pvt. Ltd., a wholly owned subsidiary of BSE, today announced the launch of India’s 1st Saatvik Index, BSE Saatvik 100. The Index is derived from the constituents of BSE 500 Index that align with Saatvik principles.

The BSE Saatvik 100 Index has a base value of 1000, first value date is 20th June 2005, and it is reconstituted Semi-annually in June & December.

Speaking at the launch, Mr. Ashutosh Singh, MD & CEO, BSE Index Services Pvt. Ltd. said, “The launch of the BSE Saatvik 100 Index marks an important step in broadening the range of thematic indices available to investors seeking alignment between their investment decisions and value-based principles. As capital markets continue to evolve, investor preferences are increasingly extending beyond traditional financial metrics to include ethical, cultural and philosophy-driven considerations. The Index represents a distinctive addition to India’s indexing landscape and provides market participants with a credible foundation for the development of passive, structured and other investment products aligned with this philosophy.”

This new index can be used for running passive strategies such as ETFs and Index Funds. It can also be used for benchmarking of PMS strategies, MF schemes and fund portfolio. Investors can now access a broader spectrum of market opportunities, further enriching their investment strategies with this latest addition to BSE’s suite of indices.

Click here to know more about the index.

About BSE INDEX SERVICES PRIVATE LIMITED:

BSE Index Services Pvt. Ltd. (formerly Asia Index Pvt. Ltd.) is a wholly owned subsidiary of BSE Ltd, Asia’s oldest stock exchange and home to the iconic SENSEX index – a leading indicator of Indian equity market performance. BSE Index Services Pvt. Ltd aims to provide a full array of indices to global / domestic investors and calculates, publishes, and maintains a diverse family of indices.

About BSE:

BSE is Asia’s oldest exchange and the world’s largest exchange in terms of the number of listed companies. BSE has been playing a prominent role in developing the Indian capital market and has successfully offered an efficient capital raising platform to many companies in India. The benchmark index of BSE, Sensex, is tracked by investors across the globe is also considered as a barometer for the growth of Indian Economy. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds, stock lending and borrowing.

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/bse-index-services-launches-bse-saatvik-100-index-302805321.html

Technology

Belgravia Hartford Provides Technical Progress Update on gravitio.ai it’s Prediction Intelligence Platform

Published

53 minutes ago

June 19, 2026

Gravitio reports 5,874 recorded AI-agent predictions since April 2026, more than 8,000 cloned AI agents, early internal crypto and football prediction-performance metrics, expanded sports coverage, and continued development of its proprietary prediction-performance data layer.

TORONTO, June 19, 2026 /PRNewswire/ – Belgravia Hartford Capital Inc. (CSE: BLGV) (OTCQB: BLGVF) (FRA: ECA) (“Belgravia” or the “Company”) is pleased to provide a technical progress update for https://gravitio.ai (“Gravitio”), the Company’s fully wholly owned AI-powered prediction intelligence platform.

Gravitio has advanced its AI-agent infrastructure, prediction-tracking systems, scoring formulas, sports coverage, and market-signal tools, generating 5,874 recorded AI-agent predictions and expanding to more than 8,000 cloned AI agents across supported categories. These developments strengthen Gravitio’s ability to analyze selected market and event data, generate structured predictions, evaluate outcomes, and build a proprietary prediction-performance data layer.

Internal Prediction Performance

Gravitio’s crypto-market agents have recorded approximately 65% accuracy across selected short-term and long-term crypto prediction categories, based on the internal tracking methodology and completed predictions measured through Gravitio’s internal result-tracking process. For World Cup 2026-related football activity, Gravitio is tracking approximately 60% live accuracy across early tournament data, including match outcomes, scoring, and tournament-related categories.

These internal performance metrics are based on Company records and internal methodology. They have not been independently validated and should be viewed as product-development indicators only, not as guarantees of future prediction accuracy, trading performance, betting results, user outcomes, revenue, or commercial success. Such predictions are not financial advice or recommendations to place any wager or expect financial returns. Past predictions do not guarantee or reflect future outcomes.

User Growth Since Pilot Stage

Since Gravitio began pilot-stage activity in April 2026, the platform has grown to more than 4,000 registered users, primarily through web-based channels, early online discovery, and initial user onboarding. Belgravia views this early registered user base as an initial indicator of interest in Gravitio’s AI-agent, prediction, challenge, and gamification features as the platform advances through its public market rollout.

AI-Agent Infrastructure and Proprietary Data Layer

Gravitio’s AI-agent architecture supports scalable testing across various markets, sports categories, time horizons, prediction models, and data-weighting structures. Beyond generating predictions, this infrastructure underpins a proprietary prediction-performance data layer: every AI-agent prediction, user prediction, confidence score, scoring event, and verified outcome can contribute structured data that may support stronger AI models, agent benchmarking, user-performance scoring, improved rankings, advanced analytics, and potential business-to-business intelligence applications.

Sports, Scoring, and Market-Signal Improvements

Gravitio has expanded its sports prediction coverage beyond FIFA 2026 Tournament to include LALIGA, SERIEA, BUNDESLIGA, LIGUE1, MLS, UCL, MLB, UFC, F1, EUROLEAGUE, NBA, AFL. Gravitio has also improved its tournament prediction and scoring framework, including updated formulas that place greater weight on higher-precision predictions and category-specific difficulty, to better evaluate prediction quality and create more useful performance data across sports and event categories. Gravitio continues to improve its data-gathering and market-signal infrastructure to support stronger data ingestion, better event tracking, and more consistent evaluation of prediction results.

Market and Jurisdictional Expansion

Belgravia is reviewing opportunities to introduce Gravitio across additional markets and jurisdictions as part of its broader growth plan, considering regulatory requirements, product availability, user demand, sports and financial-data access, technology infrastructure, third-party data dependencies, payment systems, app-store availability, and local compliance considerations.

CTO Commentary

Mr.Mehrdad Safarmohammadloo, Chief Technology Officer of Gravitio, commented:

“Since April, our focus has been on strengthening the technical foundation of Gravitio. We have expanded our AI-agent infrastructure, increased the number of recorded predictions, improved our data pipelines, and developed new scoring formulas to better evaluate prediction performance across different categories. The most important part of this work is the data layer behind the system — every agent prediction, user prediction, final result, and scoring event helps us understand how the platform performs and where it can improve. Gravitio is being designed as an adaptive prediction system, not a static prediction application. Our objective is to continue improving the relationship between data, AI agents, human prediction activity, and verified outcomes as we prepare the platform for broader commercial, market, and jurisdictional expansion.”

About Gravitio

Gravitio is an AI-powered prediction intelligence platform developed by Belgravia Hartford Capital Inc., designed to analyze selected markets, sports, events, and real-world outcomes through AI agents, data gathering, machine-learning systems, user predictions, scoring formulas, and performance tracking. Gravitio is publicly available through its web, iOS, and Android applications. For more information, visit https://gravitio.ai.

About Belgravia Hartford Capital Inc.

Belgravia Hartford Capital Inc. is an investment issuer focused on technology, finance, artificial intelligence, digital assets, and related investment opportunities. Listed for trading on the Canadian Securities Exchange and OTCQB, focused on the tech and finance sectors of the Bitcoin ecosystem. The Company’s focus, as set out in its 2018 Investment Policy, specifies cryptocurrencies, artificial intelligence, media and digital streaming opportunities. Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. Belgravia and its investments are considered very high-risk holdings, and it may expose shareholders to significant volatility and losses.

Forward-Looking Statements and Disclaimer

This press release contains forward-looking statements regarding Belgravia, Gravitio, the Company’s technology development strategy, AI-agent infrastructure, prediction systems, sports prediction features, World Cup 2026-related prediction activity, user growth, scoring systems, data infrastructure, third-party validation options, market and jurisdictional expansion, product development, and future commercial opportunities. Forward-looking statements are based on current expectations and are subject to risks, uncertainties, regulatory requirements, technical dependencies, product validation, market conditions, commercial execution risk, digital asset market volatility, user adoption, data availability, third-party service dependencies, app-store requirements, payment-processing requirements, and other factors that may cause actual results to differ materially.

Gravitio’s prediction outputs are probabilistic and are not guaranteed. Any references to prediction accuracy, verified predictions, agent performance, scoring systems, user counts, or internal tracking results are based on Company records and internal methodology and may change as additional data becomes available. The internal prediction-performance metrics described in this press release have not been independently validated and should not be interpreted as a guarantee of future prediction accuracy, investment performance, trading performance, betting results, user outcomes, revenue, or commercial success.

The content of this press release should not be interpreted as financial advice, investment advice, trading advice, betting and gambling advice, or a guarantee of profit, income, prediction accuracy, or future monetary return.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/belgravia-hartford-provides-technical-progress-update-on-gravitioai-its-prediction-intelligence-platform-302805214.html

SOURCE Belgravia Hartford Capital Inc.