Technology
Unisys Announces 1Q26 Results
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Unisys Reaffirms Full-Year Guidance Amid Improved Profitability and Strong New Business Signings
Revenue of $437.6 million, up 1.3% year over year (YoY), down 4.5% in constant currency(1)Excluding License and Support (Ex-L&S)(13) revenue of $372.1 million, up 3.1% YoY, down 2.9% in constant currencyGross profit margin of 25.7%, up 80 bps YoY; Ex-L&S gross profit margin of 19.5%, up 170 bps YoYOperating profit margin of 3.7%, improved 250 bps YoY; non-GAAP operating profit(6) margin of 4.5%, improved 170 bps YoYNew Business(5) Total Contract Value (TCV)(3) of $158 million, an increase of 45% YoYUnisys expands AI capabilities with key product releases for the ClearPath® Forward ecosystemUnisys reaffirms 2026 full-year guidance ranges for both constant currency revenue growth and non-GAAP operating profit margin
BLUE BELL, Pa., May 5, 2026 /PRNewswire/ — Unisys Corporation (NYSE: UIS) reported financial results for the first quarter of 2026 (1Q26).
“We are off to a good start in 2026, with solid financial performance and double-digit growth in New Business signings in the first quarter,” said Michael Thomson, Unisys CEO and President. “Our proven ability to move tangible AI use cases into production, with measurable results, is making Unisys more relevant to clients and alliance partners. We also released a number of ClearPath Forward products and tools that enable enterprise AI both on our platforms and external systems, reinforcing the long-term value proposition of the ClearPath Forward ecosystem.”
Unisys Chief Financial Officer Deb McCann said, “We are pleased to reaffirm our full-year financial guidance ranges for both revenue and profitability. Our strong first quarter client signings reinforce our confidence in our revenue outlook. Consistent progress on delivery and operational efficiency initiatives improved our first quarter margins and keeps us on track to meet our free cash flow expectations.”
Financial Highlights
Please refer to the accompanying financial tables for a reconciliation of the GAAP to non-GAAP measures presented, except for financial guidance since such a reconciliation is not practicable without unreasonable effort.
(In millions, except numbers presented as percentages)
1Q26
1Q25
Revenue
$437.6
$432.1
YoY revenue change
1.3 %
YoY revenue change in constant currency
(4.5) %
Ex-L&S revenue
$372.1
$361.0
YoY revenue change
3.1 %
YoY revenue change in constant currency
(2.9) %
License and Support(12) revenue
$65.5
$71.1
YoY revenue change
(7.9) %
YoY revenue change in constant currency
(12.4) %
Gross profit
$112.5
$107.5
Gross profit percent
25.7 %
24.9 %
Ex-L&S gross profit
$72.7
$64.2
Ex-L&S gross profit percent
19.5 %
17.8 %
Operating profit
$16.2
$5.1
Operating profit percent
3.7 %
1.2 %
Non-GAAP operating profit
$19.8
$11.9
Non-GAAP operating profit percent
4.5 %
2.8 %
Net loss attributable to Unisys Corporation
($35.8)
($29.5)
Non-GAAP net loss attributable to Unisys Corporation(8)
($9.9)
($3.5)
EBITDA(7)
$13.8
$5.1
Adjusted EBITDA(7)
$46.2
$40.2
Adjusted EBITDA as a percentage of revenue
10.6 %
9.3 %
First Quarter 2026 Results
Revenue increased 1.3% YoY, down 4.5% in constant currency. Foreign currency fluctuations contributed a 6 percentage-point positive impact on revenue in the current period compared with the prior-year period, which was partially offset by the timing of software license renewals, and a 2.9% decline in Ex-L&S revenue in constant currency.
Gross profit margin improved 80 bps YoY. Ex-L&S gross profit margin increased 170 bps YoY, primarily driven by delivery improvement and labor cost savings initiatives in the Cloud, Applications & Infrastructure Solutions (CA&I) segment.
During the first quarter of 2026, a transaction within the company’s United Kingdom business process outsourcing consolidated joint venture generated approximately $3 million of gross margin benefit, resulting in a positive impact on gross profit margin and Ex-L&S gross profit margin of 50 basis points and 70 basis points, respectively. This transaction is expected to generate approximately $12 million of gross margin benefit for 2026.
Financial Highlights by Segment
(In millions, except numbers presented as percentages)
1Q26
1Q25
Digital Workplace Solutions (DWS):
Revenue
$118.2
$118.6
YoY revenue change
(0.3) %
YoY revenue change in constant currency
(6.5) %
Gross profit
$15.9
$16.9
Gross profit percent
13.5 %
14.2 %
Cloud, Applications & Infrastructure Solutions (CA&I):
Revenue
$182.0
$176.6
YoY revenue change
3.1 %
YoY revenue change in constant currency
(2.4) %
Gross profit
$39.6
$34.4
Gross profit percent
21.8 %
19.5 %
Enterprise Computing Solutions (ECS):
Revenue
$115.2
$118.7
YoY revenue change
(2.9) %
YoY revenue change in constant currency
(8.4) %
Gross profit
$54.0
$56.6
Gross profit percent
46.9 %
47.7 %
First Quarter 2026 Segment Results
DWS revenue declined 0.3% YoY, down 6.5% in constant currency. Fluctuations in foreign currency contributed a 6 percentage-point positive impact on DWS revenue compared to the prior-year period. DWS gross profit margin was 13.5%, a decrease of 70 bps YoY. The decreases in revenue and gross profit margin were primarily driven by lower volume due to client attrition.
CA&I revenue increased 3.1% YoY, down 2.4% in constant currency. Fluctuations in foreign currency contributed a 5 percentage-point positive impact on CA&I revenue compared to the prior-year period. This positive impact was partially offset by reduced volume due to client attrition. CA&I gross profit margin was 21.8%, an increase of 230 bps YoY, primarily driven by delivery improvement and labor cost savings initiatives.
ECS revenue declined 2.9% YoY, down 8.4% in constant currency. Foreign currency fluctuations contributed a 5 percentage-point positive impact on ECS revenue in the current period compared with the prior-year period. ECS gross profit margin was 46.9%, a decrease of 80 bps YoY. The decreases in revenue and gross profit margin were primarily driven by the timing of software license renewals.
Balance Sheet and Cash Flows
(In millions)
March 31,
2026
December 31,
2025
Cash and cash equivalents
$ 380.2
$ 413.9
Cash and cash equivalents decreased $33.7 million primarily due to the timing of cash interest payment associated with the 10.625% Senior Secured Notes due 2031 (the 2031 Notes).
(In millions)
1Q26
1Q25
Cash (used for) provided by operations
($4.4)
$33.3
Free cash flow(9)
($25.5)
$13.2
Pre-pension and postretirement free cash flow(10)
$2.9
$22.6
Adjusted free cash flow(11)
$13.9
$28.3
The decrease in both free cash flow and pre-pension and postretirement free cash flow was primarily due to the timing of cash interest payment related to the 2031 Notes.
Other Metrics
(In millions, except numbers presented as percentages)
1Q26
1Q25
YoY
Change
QoQ
Change*
Total Contract Value (TCV)(3)
New Business(5)
$ 158
$ 109
45 %
16 %
Ex-L&S Renewals
74
76
(3) %
(91) %
L&S Renewals
42
21
100 %
(82) %
Total company
$ 274
$ 206
33 %
(76) %
*
QoQ – quarter over quarter
Backlog(2) was $2.96 billion for the first quarter of 2026 compared to $2.89 billion for the first quarter of 2025.
2026 Financial Guidance
The company reaffirms full-year 2026 revenue growth and profitability guidance:
Guidance
Revenue growth in constant currency
(6.5)% to (4.5)%
Non-GAAP operating profit margin
9.0% to 11.0%
Constant currency revenue guidance translates to reported revenue growth of (3.5)% to (1.5)%, based on exchange rates as of April 30, 2026, and assumes L&S revenue of approximately $415 million and Ex-L&S constant currency revenue growth of (7.0)% to (4.5)%.
Conference Call
Unisys will hold a conference call with the financial community on Wednesday, May 6, at 8 a.m. Eastern Time to discuss the results of the first quarter of 2026.
The live, listen-only webcast, as well as the accompanying presentation materials, can be accessed on the Unisys Investor Website at www.unisys.com/investor. In addition, domestic callers can dial 1-844-695-5518 and international callers can dial 1-412-902-6749 and provide the following conference passcode: Unisys Corporation Call.
A webcast replay will be available on the Unisys Investor Website shortly following the conference call. A replay will also be available by dialing 1-855-669-9658 for domestic callers or 1-412-317-0088 for international callers and entering access code 2479208 from two hours after the end of the call until May 20, 2026.
(1) Constant currency – A significant amount of the company’s revenue is derived from international operations. As a result, the company’s revenue has been and will continue to be affected by changes in the U.S. dollar against major international currencies. The company refers to revenue growth rates in constant currency or on a constant currency basis so that the business results can be viewed without the impact of fluctuations in foreign currency exchange rates to facilitate comparisons of the company’s business performance from one period to another. Constant currency is calculated by retranslating current and prior-period revenue at a consistent exchange rate rather than the actual exchange rates in effect during the respective periods.
(2) Backlog – Represents the estimated amount of future revenue to be recognized under contracted work, which has not yet been delivered or performed. The company believes that actual revenue reflects the most relevant measure necessary to understand the company’s results of operations, but backlog can be a useful metric and indicator of the company’s estimate of contracted revenue to be realized in the future, subject to certain inherent limitations. The timing of conversion of backlog to revenue may be impacted by, among other factors, the timing of execution, the extension, nullification or early termination of existing contracts with or without penalty, adjustments to estimates in pricing or volumes for previously included contracts, seasonality and foreign currency exchange rates. Investors are cautioned that backlog should not be relied upon as a substitute for, or considered in isolation from, measures in accordance with GAAP.
(3) Total Contract Value (TCV) – Represents the initial estimated revenue related to contracts signed in the period without regard for early termination or revenue recognition rules. Changes to contracts and scope are treated as TCV only to the extent of the incremental new value. New Business TCV represents TCV attributable to expansion and new scope for existing clients and new logo contracts. L&S TCV is driven by software license renewals, and as such, changes in timing or terms of renewals can lead to fluctuations from period to period. The company believes that actual revenue reflects the most relevant measure necessary to understand the company’s results of operations, but TCV can be a useful leading indicator of the company’s ability to generate future revenue over time, subject to certain inherent limitations. Measuring TCV involves the use of estimates and judgments and the extent and timing of conversion of TCV to revenue may be impacted by, among other factors, the types of services and solutions sold, contract duration, the pace of client spending, actual volumes of services delivered as compared to the volumes anticipated at the time of contract signing, and contract modifications, including, without limitation, contract nullification and termination, over the lifetime of a contract. Investors are cautioned that TCV should not be relied upon as a substitute for, or considered in isolation from, measures in accordance with GAAP.
(4) Book-to-bill – Represents total contract value booked divided by revenue in a given period.
(5) New Business – Represents expansion and new scope for existing clients and new logo contracts.
(6) Non-GAAP operating profit – This measure excludes pretax pension and postretirement expense, pretax goodwill impairment charge and pretax charges or gains associated with certain legal matters related to settlements, professional services and legal fees, including legal defense costs, associated with certain legal proceedings, and cost-reduction activities and other expenses.
(7) EBITDA & adjusted EBITDA – Earnings before interest, taxes, depreciation and amortization (EBITDA) is calculated by starting with net income (loss) attributable to Unisys Corporation common shareholders and adding or subtracting the following items: net income (loss) attributable to noncontrolling interests, interest expense (net of interest income), provision for (benefit from) income taxes, depreciation and amortization. Adjusted EBITDA further excludes pension and postretirement expense; goodwill impairment charge, foreign exchange (gains) losses, debt extinguishment, certain legal matters related to settlements, professional services and legal fees, including legal defense costs, associated with certain legal proceedings; environmental matters related to previously disposed businesses; cost-reduction activities and other expenses; non-cash share-based expense; and other (income) expense adjustments.
(8) Non-GAAP net income (loss) and non-GAAP diluted earnings (loss) per share – These measures exclude pension and postretirement expense and charges or (credits) in connection with goodwill impairment; foreign exchange (gains) losses, debt extinguishment, certain legal matters related to settlements, professional services and legal fees, including legal defense costs, associated with certain legal proceedings; environmental matters related to previously disposed businesses; and cost-reduction activities and other expenses. The tax amounts related to these items for the calculation of non-GAAP diluted earnings (loss) per share include the current and deferred tax expense and benefits recognized under GAAP for these items.
(9) Free cash flow – Represents cash flow from operations less capital expenditures.
(10) Pre-pension and postretirement free cash flow – Represents free cash flow before pension and postretirement contributions.
(11) Adjusted free cash flow – Represents free cash flow less cash used for pension and postretirement funding; debt extinguishment, certain legal matters related to settlements, professional services and legal fees, including legal defense costs, associated with certain legal proceedings; environmental matters related to previously disposed businesses; and cost-reduction activities and other payments.
(12) License and Support (L&S) – Represents software license and related support services, primarily ClearPath Forward®, within the company’s ECS segment.
(13) Excluding License and Support (Ex-L&S) – These measures exclude revenue, gross profit and gross profit margin in connection with software license and support services within the company’s ECS segment. The company provides these measures to allow investors to isolate the impact of software license renewals, which tend to be significant and impactful based on timing, and related support services in order to evaluate the company’s business outside of these areas.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Unisys cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond Unisys’ ability to control or estimate precisely, such as estimates of future market conditions, the behavior of other market participants and that TCV is based, in part, on the assumption that each of those contracts will continue for their full contracted term. Words such as “anticipates,” “estimates,” “expects,” “projects,” “may,” “will,” “intends,” “plans,” “believes,” “should” and similar expressions may identify forward-looking statements and such forward-looking statements are made based upon management’s current expectations, assumptions and beliefs as of this date concerning future developments and their potential effect upon Unisys. There can be no assurance that future developments will be in accordance with management’s expectations, assumptions and beliefs or that the effect of future developments on Unisys will be those anticipated by management. Because actual results may differ materially from those expressed or implied by these forward-looking statements, we caution readers not to place undue reliance on these statements. Forward-looking statements in this release and the accompanying presentation include, but are not limited to, statements made in Mr. Thomson’s and Ms. McCann’s quotations, any projections or expectations of revenue growth, margin expansion, achievement of operational efficiencies and savings, effective use of technology, investments in our solutions and artificial intelligence adoption and innovation, TCV and Ex-L&S New Business TCV, the impact of new logo signings, backlog, book-to-bill(4), full-year 2026 revenue growth and profitability guidance, including constant currency revenue, Ex-L&S constant currency revenue growth, L&S revenue, non-GAAP operating profit margin, free cash flow generation and the assumptions and other expectations made in connection with our full-year 2026 financial guidance, the reduction of uncertainty and volatility of cash requirements, including pension contributions, our pension liability, debt extinguishment, future economic benefits from net operating losses and statements regarding future economic conditions or performance.
Additional information and factors that could cause actual results to differ materially from Unisys’ expectations are contained in Unisys’ filings with the U.S. Securities and Exchange Commission (SEC), including Unisys’ Annual Reports on Form 10-K and subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings, which are available at the SEC’s web site, http://www.sec.gov. Information included in this release is representative as of the date of this release only, and any forward-looking statement speaks only as of the date on which that statement is made. While Unisys periodically reassesses material trends and uncertainties affecting Unisys’ results of operations and financial condition in connection with its preparation of management’s discussion and analysis of results of operations and financial condition contained in its Quarterly and Annual Reports filed with the SEC, Unisys does not, by including this statement, assume any obligation to review, revise or update any forward-looking statement in light of future events or circumstances, except as required by applicable law.
Non-GAAP Information
This release includes certain non-GAAP financial measures that exclude certain items such as pension and postretirement expense; goodwill impairment charge, foreign exchange (gains) losses, debt extinguishment, certain legal and other matters related to professional services and legal fees, including legal defense costs, associated with certain legal proceedings; environmental matters related to previously disposed businesses; and cost-reduction activities and other expenses that the company believes are not indicative of its ongoing operations, as they may be unusual or non-recurring. The inclusion of such items in financial measures can make the company’s profitability and liquidity results difficult to compare to prior periods or anticipated future periods and can distort the visibility of trends associated with the company’s ongoing performance. Management also believes that non-GAAP measures are useful to investors because they provide supplemental information about the company’s financial performance and liquidity, as well as greater transparency into management’s view and assessment of the company’s ongoing operating performance.
Non-GAAP financial measures are often provided and utilized by the company’s management, analysts, and investors to enhance comparability of year-over-year results. These items are uncertain, depend on various factors, and could have a material impact on the company’s GAAP results for the applicable period. These measures should not be relied upon as substitutes for, or considered in isolation from, measures calculated in accordance with U.S. GAAP. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found below except for financial guidance and other forward-looking information since such a reconciliation is not practicable without unreasonable efforts as the company is unable to reasonably forecast certain amounts that are necessary for such reconciliation. This information has been provided pursuant to the requirements of SEC Regulation G.
About Unisys
Unisys is a global technology solutions company that powers breakthroughs for the world’s leading organizations. Our solutions – cloud, AI, digital workplace, applications and enterprise computing – help our clients challenge the status quo and unlock their full potential. To learn how we have been helping clients push what’s possible for more than 150 years, visit unisys.com and follow us on LinkedIn.
RELEASE NO.: 0505/10049
Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation. Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder.
UIS-Q
UNISYS CORPORATION
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(Unaudited)
(Millions, except per share data)
Three Months Ended
March 31,
2026
2025
Revenue
$ 437.6
$ 432.1
Costs and expenses
Cost of revenue
325.1
324.6
Selling, general and administrative
91.5
96.8
Research and development
4.8
5.6
421.4
427.0
Operating income
16.2
5.1
Interest expense
18.5
8.2
Other (expense), net
(20.8)
(16.9)
Loss before income taxes
(23.1)
(20.0)
Provision for income taxes
13.7
10.6
Consolidated net loss
(36.8)
(30.6)
Net loss attributable to noncontrolling interests
(1.0)
(1.1)
Net loss attributable to Unisys Corporation
$ (35.8)
$ (29.5)
Loss per share attributable to Unisys Corporation
Basic
$ (0.50)
$ (0.42)
Diluted
$ (0.50)
$ (0.42)
UNISYS CORPORATION
SEGMENT RESULTS
(Unaudited)
(Millions)
Total
DWS
CA&I
ECS
Other
Three Months Ended March 31, 2026
Revenue
$ 437.6
$ 118.2
$ 182.0
$ 115.2
$ 22.2
Gross profit percent
25.7 %
13.5 %
21.8 %
46.9 %
Three Months Ended March 31, 2025
Revenue
$ 432.1
$ 118.6
$ 176.6
$ 118.7
$ 18.2
Gross profit percent
24.9 %
14.2 %
19.5 %
47.7 %
EXCLUDING LICENSE AND SUPPORT (EX-L&S) REVENUE AND GROSS PROFIT
(Unaudited)
(Millions)
Three Months Ended
March 31,
2026
2025
L&S revenue
$ 65.5
$ 71.1
Ex-L&S revenue
372.1
361.0
Revenue
$ 437.6
$ 432.1
L&S gross profit
$ 39.8
$ 43.3
Ex-L&S gross profit
72.7
64.2
Gross profit
$ 112.5
$ 107.5
L&S gross profit percent
60.8 %
60.9 %
Ex-L&S gross profit percent
19.5 %
17.8 %
Gross profit percent
25.7 %
24.9 %
UNISYS CORPORATION
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Millions)
March 31,
2026
December 31,
2025
Assets
Current assets:
Cash and cash equivalents
$ 380.2
$ 413.9
Accounts receivable, net
366.8
437.7
Contract assets
14.5
10.9
Inventories
14.9
13.8
Prepaid expenses and other current assets
119.5
127.7
Total current assets
895.9
1,004.0
Properties, net
57.4
53.1
Capitalized contract costs, net
71.3
73.6
Marketable software, net
165.8
166.1
Operating lease right-of-use assets
35.2
38.4
Prepaid pension and postretirement assets
21.5
21.3
Deferred income taxes
100.0
96.9
Goodwill
193.7
193.8
Intangible assets, net
30.2
31.2
Restricted cash
8.1
7.8
Other long-term assets
153.3
160.0
Total assets
$ 1,732.4
$ 1,846.2
Total liabilities and deficit
Current liabilities:
Current maturities of long-term debt
$ 13.5
$ 12.7
Accounts payable
105.5
81.2
Deferred revenue
229.4
228.5
Other accrued liabilities
254.0
333.5
Total current liabilities
602.4
655.9
Long-term debt
724.0
729.0
Long-term pension and postretirement liabilities
493.3
517.7
Long-term deferred revenue
92.0
100.7
Long-term operating lease liabilities
27.8
30.6
Other long-term liabilities
77.4
80.6
Commitments and contingencies
Total Unisys Corporation stockholders’ deficit
(300.0)
(282.6)
Noncontrolling interests
15.5
14.3
Total deficit
(284.5)
(268.3)
Total liabilities and deficit
$ 1,732.4
$ 1,846.2
UNISYS CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Millions)
Three Months Ended
March 31,
2026
2025
Cash flows from operating activities
Consolidated net loss
$ (36.8)
$ (30.6)
Adjustments to reconcile consolidated net loss to net cash (used for) provided by operating activities:
Gain on debt extinguishment
(0.2)
—
Foreign currency gains
(6.8)
(1.3)
Employee stock compensation
4.1
6.8
Depreciation and amortization of properties
4.6
6.4
Depreciation and amortization of capitalized contract costs
5.8
3.0
Amortization of marketable software
11.9
12.1
Amortization of intangible assets
1.0
1.1
Other non-cash operating activities
—
1.2
Pension and postretirement contributions
(28.4)
(9.4)
Pension and postretirement expense
30.5
21.9
Deferred income taxes, net
(8.3)
(10.1)
Changes in operating assets and liabilities:
Receivables, net and contract assets
75.3
73.6
Inventories
(1.0)
(5.0)
Other assets
13.9
18.0
Accounts payable and current liabilities
(61.4)
(67.2)
Other liabilities
(8.6)
12.8
Net cash (used for) provided by operating activities
(4.4)
33.3
Cash flows from investing activities
Proceeds from foreign exchange forward contracts
—
728.8
Purchases of foreign exchange forward contracts
—
(728.9)
Investment in marketable software
(10.4)
(11.2)
Capital additions of properties and other assets
(10.7)
(8.9)
Other
(0.1)
(0.1)
Net cash used for investing activities
(21.2)
(20.3)
Cash flows from financing activities
Payments of long-term debt
(4.8)
(1.3)
Other
(1.2)
(2.7)
Net cash used for financing activities
(6.0)
(4.0)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
(1.8)
7.9
(Decrease) increase in cash, cash equivalents and restricted cash
(33.4)
16.9
Cash, cash equivalents and restricted cash, beginning of period
421.7
390.6
Cash, cash equivalents and restricted cash, end of period
$ 388.3
$ 407.5
UNISYS CORPORATION
RECONCILIATIONS OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES
(Unaudited)
(Millions, except per share data)
Three Months Ended
March 31,
2026
2025
Net loss attributable to Unisys Corporation
$ (35.8)
$ (29.5)
Pension and postretirement expense
pretax
30.5
21.9
tax
1.2
0.6
net of tax
29.3
21.3
Foreign exchange gains, net
pretax
(7.1)
(0.1)
tax
—
—
net of tax
(7.1)
(0.1)
Gain on debt extinguishment
pretax
(0.2)
—
tax
—
—
net of tax
(0.2)
—
Certain legal matters, net
pretax
0.2
(0.4)
tax
—
—
net of tax
0.2
(0.4)
Environmental matters
pretax
0.4
0.4
tax
—
—
net of tax
0.4
0.4
Cost reduction and other expenses
pretax
3.3
4.8
tax
—
—
net of tax
3.3
4.8
Non-GAAP net loss attributable to Unisys Corporation
$ (9.9)
$ (3.5)
Weighted average shares (thousands)
71,801
70,106
Plus incremental shares from assumed vesting:
Employee stock plans
—
—
Adjusted weighted average shares
71,801
70,106
Weighted average shares (thousands)
71,801
70,106
Plus incremental shares from assumed vesting:
Employee stock plans
—
—
Non-GAAP adjusted weighted average shares
71,801
70,106
Diluted loss per share
Net loss attributable to Unisys Corporation
$ (35.8)
$ (29.5)
Divided by adjusted weighted average shares
71,801
70,106
Diluted loss per share
$ (0.50)
$ (0.42)
Non-GAAP basis
Non-GAAP net loss attributable to Unisys Corporation for diluted loss per share
$ (9.9)
$ (3.5)
Divided by Non-GAAP adjusted weighted average shares
71,801
70,106
Non-GAAP diluted loss per share
$ (0.14)
$ (0.05)
UNISYS CORPORATION
RECONCILIATIONS OF GAAP TO NON-GAAP
(Unaudited)
(Millions)
FREE CASH FLOW
Three Months Ended
March 31,
2026
2025
Cash (used for) provided by operations
$ (4.4)
$ 33.3
Additions to marketable software
(10.4)
(11.2)
Additions to properties and other assets
(10.7)
(8.9)
Free cash flow
(25.5)
13.2
Pension and postretirement funding
28.4
9.4
Pre-pension and postretirement free cash flow
2.9
22.6
Certain legal payments
0.1
1.0
Environmental matters payments
1.1
2.2
Cost reduction and other payments, net
9.8
2.5
Adjusted free cash flow
$ 13.9
$ 28.3
UNISYS CORPORATION
RECONCILIATIONS OF GAAP TO NON-GAAP
(Unaudited)
(Millions)
EBITDA
Three Months Ended
March 31,
2026
2025
Net loss attributable to Unisys Corporation
$ (35.8)
$ (29.5)
Net loss attributable to noncontrolling interests
(1.0)
(1.1)
Interest expense, net of interest income of $4.9 and $5.7, respectively (1)
13.6
2.5
Provision for income taxes
13.7
10.6
Depreciation
10.4
9.4
Amortization
12.9
13.2
EBITDA
$ 13.8
$ 5.1
Pension and postretirement expense
$ 30.5
$ 21.9
Foreign exchange gains, net (1)(2)
(7.1)
(0.1)
Gain on debt extinguishment (1)
(0.2)
—
Certain legal matters, net (3)
0.2
(0.4)
Environmental matters (1)
0.4
0.4
Cost reduction and other expenses (4)
2.3
3.7
Non-cash share based expense
4.1
6.8
Other expense, net adjustment (5)
2.2
2.8
Adjusted EBITDA
$ 46.2
$ 40.2
(1) Included in other (expense), net on the consolidated statements of income (loss).
(2) Foreign exchange (gains) losses include (gains) losses from remeasuring cash, receivables, payables and intercompany balances denominated
in foreign currencies, (gains) losses on foreign exchange forward contracts and (gains) losses related to the substantial completion of liquidation
of certain foreign subsidiaries. In the third quarter of 2025, the company ceased its use of foreign currency forward contracts.
(3) Included in selling, general and administrative expenses and other (expense), net within the consolidated statements of income (loss).
(4) Reduced for depreciation and amortization included above.
(5) Other expense, net as reported on the consolidated statements of income (loss) less pension and postretirement expense, foreign exchange
(gains) losses, net, (gain) loss on debt extinguishment, interest income and items included in certain legal and environmental matters and cost
reduction and other expenses.
Three Months Ended
March 31,
2026
2025
Revenue
$ 437.6
$ 432.1
Net loss attributable to Unisys Corporation as a percentage of revenue
(8.2) %
(6.8) %
Non-GAAP net loss attributable to Unisys Corporation as a percentage of revenue
(2.3) %
(0.8) %
Adjusted EBITDA as a percentage of revenue
10.6 %
9.3 %
UNISYS CORPORATION
RECONCILIATIONS OF GAAP TO NON-GAAP
(Unaudited)
(Millions)
OPERATING PROFIT (LOSS)
Three Months Ended
March 31,
2026
2025
Operating profit
$ 16.2
$ 5.1
Certain legal matters (1)
0.2
0.5
Cost reduction and other expenses (2)
3.0
5.9
Pension and postretirement expense (1)
0.4
0.4
Non-GAAP operating profit
$ 19.8
$ 11.9
Revenue
$ 437.6
$ 432.1
Operating profit percent
3.7 %
1.2 %
Non-GAAP operating profit percent
4.5 %
2.8 %
(1) Included in selling, general and administrative on the consolidated statements of income (loss).
(2) Included in cost of revenue, selling, general and administrative and research and development on the consolidated statements of income
(loss).
View original content to download multimedia:https://www.prnewswire.com/news-releases/unisys-announces-1q26-results-302763140.html
SOURCE Unisys Corporation
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BTQ Technologies’ QSSN Selected as Core Security Infrastructure for South Korea’s First Bank-Led KRW Stablecoin Proof-of-Concept
Published
10 hours agoon
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/btq-technologies-qssn-selected-as-core-security-infrastructure-for-south-koreas-first-bank-led-krw-stablecoin-proof-of-concept-302763840.html
SOURCE BTQ Technologies Corp.
Technology
Zimmer Biomet to Present at the BofA Securities 2026 Health Care Conference
Published
10 hours agoon
May 6, 2026By
WARSAW, Ind., May 6, 2026 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced that members of the Zimmer Biomet management team will participate in the Bank of America Securities Health Care Conference on Wednesday, May 13, 2026, with a fireside chat at 8:40 a.m. PT (11:40 a.m. ET).
A live audio webcast can be accessed via Zimmer Biomet’s Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the fireside chat.
About Zimmer Biomet
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.
With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation.
For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.
Contacts:
Media
Investors
Troy Kirkpatrick
David DeMartino
614-284-1926
646-531-6115
troy.kirkpatrick@zimmerbiomet.com
david.demartino@zimmerbiomet.com
Kirsten Fallon
Zach Weiner
781-779-5561
908-591-6955
View original content to download multimedia:https://www.prnewswire.com/news-releases/zimmer-biomet-to-present-at-the-bofa-securities-2026-health-care-conference-302763299.html
SOURCE Zimmer Biomet Holdings, Inc.
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
10 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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