Technology

CAMTEK ANNOUNCES RESULTS FOR THE FIRST QUARTER OF 2026

Published

3 months ago

May 12, 2026

Q1 revenues of $121.7 million; Expects over 25% revenue growth in 2H26 versus 1H26 based on strong order momentum

Q2 revenue guidance of $129-131 million

MIGDAL HAEMEK, Israel, May 12, 2026 /PRNewswire/ — Camtek Ltd. (NASDAQ: CAMT) (TASE: CAMT), today announced its financial results for the first quarter ended March 31, 2026.

2026 First Quarter Financial Highlights

Revenues of $121.7 million, a slight year-over-year increase;GAAP gross margin of 50.1% and non-GAAP gross margin of 51.0%;GAAP operating income of $27.3 million and non-GAAP operating income of $31.1 million, representing operating margins of 22.4% and 25.5%, respectively; andGAAP net income of $31.6 million and non-GAAP net income of $35.3 million; GAAP diluted EPS of $0.63 and non-GAAP diluted EPS of $0.70.

Forward-Looking Expectations

Based on Camtek’s backlog and pipeline, guidance for the second quarter is for revenues between $129 million and $131 million. Expects a significant increase in second half 2026 with revenues expected to grow by over 25% versus first half 2026 revenues.

Management Comment

Rafi Amit, Camtek’s CEO commented, “I’m pleased to share that we have experienced an unprecedented start to the year in terms of incoming orders. This exceptional demand has substantially improved our confidence regarding the results over the remainder of 2026 and provides us with a strong foundation as we already start to look ahead into 2027.”

Continued Mr. Amit, “Camtek continues to invest heavily in innovation in advanced AI-based algorithms and software capabilities. Leveraging our dedicated AI expert team and our strategic collaboration with Visual Layer whose acquisition we recently closed, we have developed additional cutting-edge capabilities in detection, metrology, and classification. These new capabilities are already demonstrating breakthrough performance, and we believe will further strengthen our competitive edge.”

Mr. Amit concluded, “Based on the strong market demand we have experienced, we expect a surge in revenues in the second half of 2026, with revenues expected to grow by over 25% compared with the first half.”

First Quarter 2026 Financial Results

Revenues for the first quarter of 2026 were $121.7 million. This compares to first quarter 2025 revenues of $118.6 million, representing a year-over-year growth of 2.5%.

Gross profit on a GAAP basis in the quarter totaled $60.9 million (50.1% of revenues), similar to a gross profit of $60.6 million (51.0% of revenues) in the first quarter of 2025.

Gross profit on a non-GAAP basis in the quarter totaled $61.9 million (51.0% of revenues), similar to a gross profit of $61.8 million (52.1% of revenues) in the first quarter of 2025.

Operating income on a GAAP basis in the quarter totaled $27.3 million (22.4% of revenues), a decrease of 17% compared to an operating income of $32.7 million (27.6% of revenues) in the first quarter of 2025.

Operating income on a non-GAAP basis in the quarter totaled $31.1 million (25.5% of revenues), a decrease of 17% compared to $37.3 million (31.5% of revenues) in the first quarter of 2025.

Net income on a GAAP basis in the quarter totaled $31.6 million, or $0.63 per diluted share, a decrease of 8% compared to net income of $34.3 million, or $0.70 per diluted share, in the first quarter of 2025.

Net income on a non-GAAP basis in the quarter totaled $35.3 million, or $0.70 per diluted share, a decrease of 9% compared to a non-GAAP net income of $38.7 million, or $0.79 per diluted share, in the first quarter of 2025.

Cash and cash equivalents, short-term and long-term deposits, and marketable securities, as of March 31, 2026, were $849.7 million compared to $851.1 million as of December 31, 2025, and $522.6 million as of March 31, 2025. During the first quarter, the Company generated an operating cash flow of $3.1 million.

Conference Call

Camtek will host a video conference call/webinar today via Zoom, on May 12, 2026, at 09:00 ET (16:00 Israel time). Rafi Amit, CEO, Moshe Eisenberg, CFO, and Ramy Langer, COO will host the call and will be available to answer questions after presenting the results.

To participate in the webinar, please register using the following link, which will provide access to the video call: https://us06web.zoom.us/webinar/register/WN_Ny2_wROuSXmYAH3JpArfaA

For those wishing to listen via phone, following registration, the dial in link will be sent. For any problems in registering, please email Camtek’s investor relations a few hours in advance of the call.

For those unable to participate, a recording will be available on Camtek’s website at http://www.camtek.com within a few hours after the call.

A summary presentation of the quarterly results will also be available on Camtek’s website.

ABOUT CAMTEK LTD.

Camtek is a developer and manufacturer of high-end inspection and metrology equipment for the semiconductor industry. Camtek’s systems inspect IC and measure IC features on wafers throughout the production process of semiconductor devices, covering the front and mid-end and up to the beginning of assembly (Post Dicing). Camtek’s systems inspect wafers for the most demanding semiconductor market segments, including Advanced Interconnect Packaging, Heterogeneous Integration, Memory and HBM, CMOS Image Sensors, Compound Semiconductors, MEMS, and RF, serving numerous industries’ leading global IDMs, OSATs, and foundries.

With manufacturing facilities in Israel and Germany, and eight offices around the world, Camtek provides state-of-the-art solutions in line with customers’ requirements.

This press release is available at http://www.camtek.com

This press release contains statements that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on Camtek’s current beliefs, expectations and assumptions about its business and industry, all of which may change. Forward-looking statements can be identified by the use of words including “believe,” “anticipate,” “should,” “intend,” “plan,” “will,” “may,” “expect,” “estimate,” “project,” “positioned,” “strategy,” and similar expressions that are intended to identify forward-looking statements, including our expectations and statements relating to our future earnings and guidance, the compound semiconductors market and our position in this market. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Camtek to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause our actual results to differ materially from those contained in the forward-looking statements include, but are not limited to, risks related to the ongoing hostilities in the Middle East; the impact of disruptions to global shipment and supply chain, including but not limited to increased risk and disruption around the Strait of Hormuz, and broader impacts on energy and freight markets; the continued demand and future contribution of HBM and Chiplet applications and devices to the Company business resulting from, among other things, the field of AI surging worldwide across companies, industries and nations; formal or informal imposition by countries of new or revised export and/or import and doing-business regulations or sanctions, including but not limited to changes in U.S. trade policies, changes or uncertainty related to the U.S. government entity list and changes in the ability to sell products incorporating U.S originated technology, which can be made without prior notice, and our ability to effectively address such global trade issues and changes; risks related to fluctuations in foreign currency exchange rates; and those other factors discussed in our Annual Report on Form 20-F as published on March 19, 2026, as well as other documents filed by the Company with the SEC as well as other documents that may be subsequently filed by Camtek from time to time with the Securities and Exchange Commission. We caution you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Camtek does not assume any obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release unless required by law.

While we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. In addition, any forward-looking statements represent Camtek’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Camtek does not assume any obligation to update any forward-looking statements unless required by law.

This press release provides financial measures that exclude: (i) share based compensation expenses; and (ii) acquisition related expenses and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore felt it is important to make these non-GAAP adjustments available to investors. A reconciliation between the GAAP and non-GAAP results appears in the tables at the end of this press release. The results reported in this press-release are preliminary unaudited results, and investors should be aware of possible discrepancies between these results and the audited results to be reported, due to various factors.

CAMTEK LTD. and its subsidiaries

Condensed Interim Consolidated Balance Sheets (Unaudited)

(In thousands)

March 31,

December 31,

2026

2025

U.S. Dollars

Assets

Current assets

Cash and cash equivalents

199,597

177,848

Short-term deposits

380,440

411,450

Marketable securities

90,224

78,862

Trade accounts receivable, net

131,743

90,829

Inventories

99,975

112,202

Other current assets

35,505

25,804

Total current assets

937,484

896,995

Marketable securities

179,488

182,941

Long-term inventory

16,764

15,569

Deferred tax asset, net

12,933

Other assets, net

1,572

1,881

Property, plant and equipment, net

55,857

55,090

Right of use assets, net

10,243

10,017

Intangible assets, net

9,374

10,062

Goodwill

74,345

Total non- current assets

360,576

362,838

Total assets

1,298,060

1,259,833

Liabilities and shareholders’ equity

Current liabilities

Trade accounts payable

34,305

33,676

Other current liabilities

77,964

73,749

Total current liabilities

112,269

107,425

Long-term liabilities

Deferred tax liabilities, net

819

1,261

Other long-term liabilities

14,633

14,311

Convertible notes

487,811

519,833

Total long-term liabilities

503,263

535,405

Total liabilities

615,532

642,830

Commitments and contingencies

Shareholders’ equity

Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at March
31, 2026 and at December 31, 2025;

46,044,477 shares outstanding at March 31, 2026 and 45,828,133 at
December 31, 2025

180

178

Additional paid-in capital

267,735

231,892

Accumulated other comprehensive income (loss)

(1,678)

287

Retained earnings

418,189

386,544

684,426

618,901

Treasury stock, at cost (2,092,376 as of March 31, 2026 and December 31,
2025)

(1,898)

Total shareholders’ equity

682,528

617,003

Total liabilities and shareholders’ equity

1,298,060

1,259,833

CAMTEK LTD. and its subsidiaries

Condensed Interim Consolidated Statement of Income (unaudited)

(in thousands)

Three months ended
March 31,

Year ended
December 31,

2026

2025

U.S. dollars

Revenues

121,659

118,638

496,072

Cost of revenues

60,730

58,074

245,755

Gross profit

60,929

60,564

250,317

Operating expenses:

Research and development

14,323

10,362

48,345

Selling, general and administrative

19,340

17,502

73,769

Total operating expenses

33,663

27,864

122,114

Operating profit

27,266

32,700

128,203

Financial income, net

8,149

5,433

25,064

Other expenses

–

(100,932)

Income before incomes taxes

35,415

38,133

52,335

Income tax expense

(3,770)

(3,822)

(1,613)

Net income

31,645

34,311

50,722

Basic net earnings per share (in US dollars)

0.68

0.75

1.11

Diluted net earnings per share (in US dollars)

0.63

0.70

1.04

Weighted average number of

ordinary shares outstanding:

Basic

46,348

45,561

45,703

Diluted

51,471

49,286

49,970

CAMTEK LTD. and its subsidiaries

(In thousands, except share data)

Three months ended
March 31,

Year ended
December 31,

2026

2025

U.S. dollars

Reported net income attributable to
Camtek Ltd. on GAAP basis

31,645

34,311

50,722

Acquisition of FRT-related expenses (1)

489

650

2,801

Loss from extinguishment of Capital Notes (2)

–

88,682

Share-based compensation

3,122

3,710

16,819

Non-GAAP net income

35,256

38,671

159,024

Non –GAAP net income per share, diluted

0.70

0.79

3.26

Gross margin on GAAP basis

50.1 %

51.0 %

50.4 %

Reported gross profit on GAAP basis

60,929

60,564

250,317

Acquisition of FRT-related expenses (1)

610

2,895

Share-based compensation

452

584

2,806

Non-GAAP gross profit

61,991

61,758

51.6 %

Non- GAAP gross margin

51.0 %

52.1 %

256,018

Reported operating income attributable to
Camtek Ltd. on GAAP basis

27,266

32,700

128,303

Acquisition of FRT-related expenses (1)

692

928

4,000

Share-based compensation

3,122

3,710

16,819

Non-GAAP operating income

31,080

37,338

149,122

(1) During the three-month period ended March 31, 2026, the Company recorded acquisition-related expenses of $0.5 million, consisting of: (1) $0.6 million amortization of intangible assets acquired recorded under cost of revenues line item. (2) $0.1 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (3) $0.2 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.

During the three-month period ended March 31, 2025, the Company recorded acquisition-related expenses of $0.6 million, consisting of: (1) $0.6 million amortization of intangible assets acquired recorded under cost of revenues line item. (2) $0.3 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (3) $0.3 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.

During the year ended December 31, 2025, the Company recorded acquisition-related expenses of $2.8 million, consisting of: (1) inventory written-up to fair value in purchase accounting charges of $0.5 million. This amount is recorded under cost of revenues line item. (2) $2.4 million amortization of intangible assets acquired recorded under cost of revenues line item. (3) $1.1 million amortization of intangible assets acquired recorded under sales and marketing expenses line item. (4) $1.2 million reversal of tax provision related to the above adjustment, recorded under the tax expense line item.

(2) During the year ended December 31, 2025, the Company recorded a loss of $88.7 million, consisting of: (1) $100.9 million from the extinguishment of Capital Notes recorded under the other expenses line item. (2) $12.3 million tax benefit recorded under the income tax benefit line item.

Camtek Ltd.

P.O.Box 544, Ramat Gabriel Industrial Park

Migdal Ha’Emek 23150, ISRAEL

Tel: +972 (4) 604-8100 Fax: +972 (4) 644-0523

E-Mail: Info@camtek.com Web site: http://www.camtek.com

CAMTEK LTD.

Moshe Eisenberg, CFO

Tel: +972 4 604 8308

Mobile: +972 54 900 7100

moshee@camtek.com

INTERNATIONAL INVESTOR RELATIONS

EK Global Investor Relations

Ehud Helft

Tel: (US) 1 212 378 8040

camtek@ekgir.com

Logo – https://mma.prnewswire.com/media/1534463/Camtek_logo.jpg

View original content:https://www.prnewswire.com/news-releases/camtek-announces-results-for-the-first-quarter-of-2026-302769389.html

SOURCE Camtek Ltd.

Technology

1exchange Joins Canton to Leverage Privacy-Enabled Blockchain Infrastructure for RWA Tokenization

Published

20 minutes ago

August 4, 2026

SINGAPORE, Aug. 4, 2026 /PRNewswire/ — 1exchange, a leading regulated real-world asset (RWA) exchange for listing and trading RWA tokens, today announced that it has been approved as a validator on Canton, the only privacy-enabled public blockchain network purpose-built for capital markets. 1exchange will utilize the network’s privacy-preserving, interoperable blockchain infrastructure to support its future tokenization, listing and trading of real-world assets (RWA) with enhanced privacy and security.

As regulated institutional RWA markets continue to evolve, financial institutions increasingly require infrastructure that supports efficient transactions while meeting complex confidentiality, compliance and information-sharing requirements. Canton addresses these needs through its selective disclosure capabilities, enabling participants to share transaction data only with relevant and authorized parties while maintaining interoperability across the network. This provides a foundation for financial institutions to participate in connected RWA markets without compromising the controls expected in modern capital markets.

As a MAS-regulated Recognized Market Operator (RMO), 1exchange provides a regulated marketplace for the tokenization, listing, and secondary trading of real-world assets. By integrating with Canton, 1exchange enhances its tokenization capabilities with privacy-preserving infrastructure purpose-built for institutional assets, enabling issuers to better protect commercially sensitive information, including investor identities, ownership records, and transaction data throughout the asset lifecycle.

1exchange also aims to leverage Canton’s compliance and regulatory controls, including transfer restrictions and investor eligibility requirements, directly into its tokenization process, helping streamline the issuance of regulated digital assets while supporting institutional governance standards.

“The future of tokenization will be defined not only by the assets brought on-chain, but also by the quality of the market infrastructure supporting them,” said Sheena Lim, CEO of 1exchange. “Canton aligns closely with the needs of institutional capital markets. Through this integration, we look forward to exploring new opportunities for tokenized asset issuance and trading while continuing to build a regulated and trusted marketplace for tokenized securities.”

“We’re seeing a growing number of regulated institutions integrate tokenized assets into their existing workflows. These participants need the speed, liquidity, and composability of on-chain markets without compromising confidentiality, governance, or regulatory oversight,” said Yuval Rooz, CEO of Digital Asset and co-founder of Canton. “By joining Canton, 1exchange helps expand our presence in Asia and meet the growing regional demand for secure, interoperable digital asset infrastructures.”

Joining Canton places 1exchange alongside a growing ecosystem of leading global financial institutions and market infrastructure providers, collectively advancing the next generation of regulated digital capital markets.

About 1exchange

1exchange, a member of FOMO Group, is a leading exchange for Real-World Assets (RWA) security tokens and private listings, licensed by the Monetary Authority of Singapore (MAS). Offering full-stack on-chain infrastructure, the platform enables issuers to list enterprise-grade RWAs, while enabling investors to trade modern digital assets in a regulated secondary market, unlocking global liquidity.

Visit www.1x.exchange for more information.
For media inquiries, please contact media@1x.exchange.

About Canton

Canton is the only public, permissionless blockchain purpose-built for institutional finance–uniquely combining privacy, compliance, and scalability. With participation from leading global financial institutions and network governance independently facilitated by the Canton Foundation, Canton enables real-time, secure synchronization and settlement across multiple asset classes on a shared, interoperable infrastructure. The open-sourced network is powered by its native token, Canton Coin, and supports decentralized governance and collaborative application development. It’s the proven link between the promise of blockchain and the power of global finance, making finance flow the way it should. Learn more at: canton.network.

Disclaimer

The information contained in this article is provided strictly for general informational purposes only. It does not constitute financial advice, investment advice, an offer to sell, or a solicitation of an offer to purchase or subscribe for any securities or financial products listed or traded on 1exchange (“1X”).

Investments involve risks, including the possible loss of principal. Past performance is not necessarily indicative of future performance.

Readers should carefully consider their investment objectives, financial circumstances, and risk tolerance, and should conduct their own independent research. Where appropriate, readers are encouraged to seek advice from a qualified financial professional before making any investment decisions.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

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SOURCE 1exchange (“1X”)

Technology

AudioCodes Reports Second Quarter 2026 Results and Declares Semi-Annual Dividend of 20 cents per share

Published

20 minutes ago

August 4, 2026

OR YEHUDA, Israel, Aug. 4, 2026 /PRNewswire/ —

Second Quarter Highlights

Quarterly revenues increased by 3.1% year-over-year to $63 million;Quarterly services revenues increased by 6.2% year-over-year to $34.6 million;GAAP results:
– Quarterly GAAP gross margin was 65.7%;
– Quarterly GAAP operating margin was 5.1%;
– Quarterly GAAP net income was $0.5 million, or $0.02 per diluted share.Non-GAAP results:
– Quarterly Non-GAAP gross margin was 65.8%;
– Quarterly Non-GAAP operating margin was 7.4%;
– Quarterly Non-GAAP net income was $3.9 million, or $0.15 per diluted share;Net cash provided by operating activities was $6.1 million for the quarter.AudioCodes repurchased 950,133 of its ordinary shares during the quarter at an aggregate cost of $8.9 million.

Details

AudioCodes (NASDAQ: AUDC) (the “Company”), a global leader in enterprise voice and VoiceAI business solutions, today announced its financial results for the second quarter ended June 30, 2026.

Revenues for the second quarter of 2026 were $63 million compared to $61.1 million for the second quarter of 2025.

Net income was $0.5 million, or $0.02 per diluted share, for the second quarter of 2026 compared to net income of $0.3 million, or $0.01 per diluted share, for the second quarter of 2025.

On a Non-GAAP basis, net income was $3.9 million, or $0.15 per diluted share, for the second quarter of 2026 compared to $4.1 million, or $0.14 per diluted share, for the second quarter of 2025.

Non-GAAP net income excludes: (i) share-based compensation expenses; (ii) amortization expenses related to intangible assets; and (iii) financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies. Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income and non-GAAP operating margin exclude: (i) share-based compensation expenses and (ii) amortization expenses related to intangible assets. Reconciliations of the non-GAAP measures to their most directly comparable GAAP measures are provided in the tables that accompany the condensed consolidated financial statements contained in this press release.

Net cash provided by operating activities was $6.1 million for the second quarter of 2026. Cash and cash equivalents, short-term bank deposits, short-term marketable securities, and long-term financial investments were $64.2 million as of June 30, 2026, compared to $75.7 million as of December 31, 2025. The decrease in cash and cash equivalents, short-term bank deposits, short-term marketable securities, and long-term financial investments was the result of the use of cash for the continued repurchase of the Company’s ordinary shares pursuant to its share repurchase program and the payment of a cash dividend during the first quarter. This was partially offset by cash generated from operating activities and proceeds from the maturity of marketable securities.

“I am pleased to announce strong financial results for the second quarter of 2026, reflecting well on the execution of our strategic initiative to transform AudioCodes into a voice AI-driven cloud software and services company,” stated Shabtai Adlersberg, President and Chief Executive Officer of AudioCodes.

Second-quarter results were propelled again by sustained momentum across our two principal growth pillars: the Live suite of managed services for UCaaS and CX, alongside our Conversational AI business. Collectively, these segments advanced Annual Recurring Revenue (ARR) to $84 million, marking an increase of 20% compared to the year ago period. Notably, our Microsoft Teams business maintained its strong momentum, growing 5% year over year.

Consistent with the first quarter of this year, our Conversational AI business grew by more than 50% year over year in the second quarter, reflecting strong and broad-based demand across our Voice AI portfolio. The growing adoption of voice as the most natural and preferred medium for business communication and collaboration is becoming the experience of many and strengthens our confidence in the long-term growth potential of the business. During the quarter, Voice AI Connect and Live Hub delivered record bookings, driven by an accelerating pipeline, consistent new logo acquisition, and significant expansion within our existing customer base. These solutions support both virtual agent and agent-assist capabilities across the growing contact center market, in both cloud and on-premises deployments. Voca CIC, our Microsoft Teams-certified contact center solution has also generated good business progress. In addition, Meeting Insights, our enterprise-grade meeting intelligence solution for cloud and on-premises environments, continues to gain traction as customer interest grows and the opportunity pipeline steadily expands.

“Overall, we achieved our operational and financial targets through maintaining budgetary and managerial discipline. The ongoing investments in Live services and Voice AI have significantly contributed to our current success and position us favorably for continued healthy top-line growth throughout the remainder of 2026,” concluded Mr. Adlersberg.

Share Buy Back Program

In May 2026, the Company received court approval in Israel to purchase up to an aggregate amount of $25 million of ordinary shares. The court approval also permits AudioCodes to declare a dividend out of any part of this amount. The approval is valid through November 12, 2026.

During the quarter ended June 30, 2026, the Company acquired 950,133 of its ordinary shares under its share repurchase program for a total consideration of $8.9 million.

As of June 30, 2026, the Company had $17.4 million available under this approval for the repurchase of shares and/or declaration of cash dividends.

As of June 30, 2026, the total outstanding shares of the Company are 24,590,849.

Cash Dividend

AudioCodes also announced today that the Company’s Board of Directors has declared a semi-annual cash dividend in the amount of 20 cents per share. The aggregate amount of the dividend is approximately $4.8 million. The dividend is payable on September 3, 2026, to all of the Company’s shareholders of record at the close of trading on the NASDAQ Global Select Market on August 19, 2026.

In accordance with Israeli tax law, the dividend is subject to withholding tax at source at the rate of 25% of the dividend amount payable to each shareholder of record, subject to applicable exemptions. If the recipient of the dividend is at the time of distribution or was at any time during the preceding 12-month period the holder of 10% or more of the Company’s share capital, the withholding rate is 30%.

The dividend will be paid in U.S. dollars on the ordinary shares of AudioCodes Ltd. that are traded on the Nasdaq Global Select Market or the Tel-Aviv Stock Exchange. The amount and timing of any other dividends will be determined by the Company’s Board of Directors.

Conference Call & Web Cast Information

AudioCodes will conduct a conference call at 8:30 A.M., Eastern Time today to discuss the Company’s second quarter of 2026 operating performance, financial results and outlook. Interested parties may participate in the conference call by dialing one of the following numbers:

United States Participants: 888-506-0062

International Participants: +1 (973) 528-0011

The conference call will also be simultaneously webcast. Investors are invited to listen to the call live via webcast at the AudioCodes investor website at http://www.audiocodes.com/investors-lobby.

Follow AudioCodes’ social media channels:

AudioCodes invites you to join our online community and follow us on: AudioCodes Voice Blog, LinkedIn, X, Facebook, and YouTube.

About AudioCodes

AudioCodes Ltd. (NASDAQ, TASE: AUDC) is a global leader in enterprise voice and VoiceAI business solutions. We help organizations unlock the full value of voice, transforming every conversation, whether human or AI, into a strategic asset that drives better business outcomes. Our portfolio spans voice connectivity, unified communications and contact center integration, and next-generation voice AI applications that enhance collaboration, automate workflows and deliver real-time insights. With over 30 years of global experience and trusted by 65 of the Fortune 100, AudioCodes powers the intelligent enterprise, connecting people, platforms and data to move business forward.

For more information on AudioCodes, visit http://www.audiocodes.com.

Statements concerning AudioCodes’ business outlook or future economic performance, product introductions and plans and objectives related thereto, and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements” as the term is defined under U.S. federal securities laws. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to, the following: the effect of global economic conditions in general and conditions in AudioCodes’ industry and target markets in particular, including governmental undertakings to address such conditions; shifts in supply and demand; market acceptance of new products and the demand for existing products; the impact of competitive products and pricing on AudioCodes’ and its customers’ products and markets; timely product and technology development, upgrades, the advent of artificial intelligence, and the ability to manage changes in market conditions and evolving regulatory regimes, as applicable; possible need for additional financing; the ability to satisfy covenants in AudioCodes’ financing agreements; possible impacts and disruptions from AudioCodes’ acquisitions, including the ability of AudioCodes to successfully integrate the products and operations of acquired companies into AudioCodes’ business; possible adverse impacts attributable to any pandemic or other public health crisis on our business and results of operations; the effects of the current and any future hostilities involving Israel, including in the regions in which we or our counterparties operate, which may affect our operations and may limit our ability to produce and sell our solutions; any disruption in our operations by the obligations of our personnel to perform military service as a result of current or future military actions involving Israel; and any other factors described in AudioCodes’ filings made with the U.S. Securities and Exchange Commission from time to time. AudioCodes assumes no obligation to update the information in this release.

©2026 AudioCodes Ltd. All rights reserved. AudioCodes, AC, HD VoIP, HD VoIP Sounds Better, IPmedia, Mediant, MediaPack, What’s Inside Matters, OSN, SmartTAP, User Management Pack, VMAS, VoIPerfect, VoIPerfectHD, Your Gateway To VoIP, 3GX, AudioCodes One Voice, AudioCodes Meeting Insights, and AudioCodes Room Experience are trademarks or registered trademarks of AudioCodes Limited. All other products or trademarks are property of their respective owners. Product specifications are subject to change without notice.

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands

June 30,

December 31,

2026

2025

(Unaudited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$ 51,414

$ 45,282

Short-term bank deposits

255

239

Short-term marketable securities

10,001

27,350

Trade receivables, net

62,877

67,358

Other receivables and prepaid expenses

18,581

19,064

Inventories

23,764

22,032

Total current assets

166,892

181,325

LONG-TERM ASSETS:

Long-term Trade receivables

$ 10,785

$ 13,065

Long-term financial investments

2,492

2,790

Deferred tax assets

7,026

7,773

Operating lease right-of-use assets

31,573

30,077

Severance pay funds

23,057

21,163

Total long-term assets

74,933

74,868

PROPERTY AND EQUIPMENT, NET

29,636

29,248

GOODWILL, INTANGIBLE ASSETS AND OTHER, NET

37,560

37,579

Total assets

$ 309,021

$ 323,020

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Trade payables

9,439

6,416

Other payables and accrued expenses

29,640

30,284

Deferred revenues

41,466

38,243

Short-term operating lease liabilities

7,430

6,635

Total current liabilities

87,975

81,578

LONG-TERM LIABILITIES:

Accrued severance pay

$ 19,097

$ 18,278

Deferred revenues and other liabilities

22,230

20,517

Long-term operating lease liabilities

33,938

31,348

Total long-term liabilities

75,265

70,143

Total shareholders’ equity

145,781

171,299

Total liabilities and shareholders’ equity

$ 309,021

$ 323,020

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

U.S. dollars in thousands, except per share data

Six months ended

Three months ended

June 30,

2026

2025

2026

2025

(Unaudited)

Revenues:

Products

$ 56,508

$ 56,290

$ 28,378

$ 28,515

Services

68,593

65,162

34,580

32,563

Total Revenues

125,101

121,452

62,958

61,078

Cost of revenues:

Products

20,160

21,936

10,249

10,919

Services

22,455

21,258

11,348

11,035

Total Cost of revenues

42,615

43,194

21,597

21,954

Gross profit

82,486

78,258

41,361

39,124

Operating expenses:

Research and development, net

27,354

25,899

13,296

12,873

Selling and marketing

40,664

38,376

20,984

19,815

General and administrative

7,906

7,738

3,883

3,836

Total operating expenses

75,924

72,013

38,163

36,524

Operating income

6,562

6,245

3,198

2,600

Financial income (expenses), net

(2,141)

522

(1,759)

(1,194)

Income before taxes on income

4,421

6,767

1,439

1,406

Taxes on income, net

(1,991)

(2,445)

(962)

(1,100)

Net income

$ 2,430

$ 4,322

$ 477

$ 306

Basic net earnings per share

$ 0.09

$ 0.15

$ 0.02

$ 0.01

Diluted net earnings per share

$ 0.09

$ 0.15

$ 0.02

$ 0.01

Weighted average number of shares used in computing
basic net earnings per share (in thousands)

25,826

29,202

25,185

28,877

Weighted average number of shares used in computing
diluted net earnings per share (in thousands)

26,322

29,699

25,753

29,353

AUDIOCODES LTD. AND ITS SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP RESULTS

U.S. dollars in thousands, except per share data

Six months ended

Three months ended

June 30,

2026

2025

2026

2025

(Unaudited)

Gross profit

$ 82,486

$ 78,258

$ 41,361

$ 39,124

Gross margin

65.9 %

64.4 %

65.7 %

64.1 %

Share-based compensation (1)

153

225

130

Amortization expenses (2)

–

244

–

122

Non-GAAP gross profit

82,639

78,727

41,436

39,376

Non-GAAP gross margin

66.1 %

64.8 %

65.8 %

64.5 %

Operating income

$ 6,562

$ 6,245

$ 3,198

$ 2,600

Operating margin

5.2 %

5.1 %

4.3 %

Share-based compensation (1)

2,811

3,276

1,422

1,688

Amortization expenses (2)

266

133

Non-GAAP operating income

9,392

9,787

4,628

4,421

Non-GAAP operating margin

7.5 %

8.1 %

7.4 %

7.2 %

Net income

$ 2,430

$ 4,322

$ 477

$ 306

Net earnings per share

$ 0.09

$ 0.14

$ 0.02

$ 0.01

Share-based compensation (1)

2,811

3,276

1,422

1,688

Amortization expenses (2)

266

133

Exchange rate differences (3)

2,388

918

1,980

1,953

Non-GAAP net income

$ 7,648

$ 8,782

$ 3,887

$ 4,080

Non-GAAP diluted net earnings per share

$ 0.28

$ 0.29

$ 0.15

$ 0.14

Weighted average number of shares used in computing
Non-GAAP diluted net earnings per share (in thousands)

27,075

30,422

26,430

30,120

(1) Share-based compensation expenses related to options and restricted share units granted to employees and others.

(2) Amortization expenses related to intangible assets.

(3) Financial income (expenses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies.

Note: Non-GAAP measures should be considered in addition to, and not as a substitute for, the results prepared in accordance with GAAP. The Company believes that non-GAAP information is useful because it can enhance the understanding of its ongoing economic performance and therefore uses internally this non-GAAP information to evaluate and manage its operations. The Company has chosen to provide this information to investors to enable them to perform comparisons of operating results in a manner similar to how the Company analyzes its operating results and because many comparable companies report this type of information.

The non-GAAP measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies.

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

U.S. dollars in thousands

Six months ended

Three months ended

June 30,

2026

2025

2026

2025

(Unaudited)

Cash flows from operating activities:

Net income

$ 2,430

$ 4,322

$ 477

$ 306

Adjustments required to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

2,212

1,913

1,131

959

Amortization of marketable securities premiums and accretion of discounts, net

122

197

Decrease (increase) in accrued severance pay, net

(1,075)

(823)

(57)

Share-based compensation expenses

2,811

3,276

1,422

1,688

Decrease in deferred tax assets, net

690

307

165

(312)

Cash financial loss (income), net

407

168

(31)

Decrease in operating lease right-of-use assets

2,263

2,199

1,057

1,453

Decrease (increase) in operating lease liabilities

(374)

422

786

1,965

Decrease (increase) in trade receivables, net

6,761

(3,136)

(2,905)

(3,922)

Decrease (increase) in other receivables and prepaid expenses

483

(4,444)

850

(6,827)

Decrease (increase) in inventories

(1,866)

4,976

(911)

2,121

Increase in trade payables

2,883

1,269

1,376

Decrease in other payables and accrued expenses

(4,150)

6,750

2,009

9,345

Increase in deferred revenues

5,320

4,215

1,357

(432)

Net cash provided by operating activities

18,917

21,182

6,096

7,725

Cash flows from investing activities:

Proceeds from short-term deposits

(16)

(18)

(13)

(19)

Proceeds from financial investment

122

178

Proceeds from maturity of marketable securities

17,377

3,200

14,377

–

Purchase of financial investments

(135)

(442)

(135)

–

Purchase of property and equipment

(2,296)

(3,259)

(1,051)

(1,785)

Net cash provided by (used in) investing activities

15,052

(341)

13,266

(1,739)

AUDIOCODES LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

U.S. dollars in thousands

Six months ended

Three months ended

June 30,

2026

2025

2026

2025

(Unaudited)

Cash flows from financing activities:

Purchase of treasury shares

(22,548)

(11,818)

(8,876)

(6,610)

Cash dividends paid to shareholders

(5,289)

(5,326)

–

Proceeds from issuance of shares upon exercise of options

–

173

–

110

Net cash used in financing activities

(27,837)

(16,971)

(8,876)

(6,500)

Net increase (decrease) in cash and cash equivalents

6,132

3,870

10,486

(514)

Cash and cash equivalents at beginning of period

45,282

58,749

40,928

63,133

Cash and cash equivalents at end of period

$ 51,414

$ 62,619

$ 51,414

$ 62,619

Company Contacts

Niran Baruch,

Chief Financial Officer

AudioCodes

Tel: +972-3-976-4000

niran.baruch@audiocodes.com

Roger L. Chuchen

VP, Investor Relations

AudioCodes

Tel: +1-732-764-2552

roger.chuchen@audiocodes.com

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SOURCE AudioCodes

Technology

Prologis Announces Recommended Acquisition of SEGRO plc

Published

20 minutes ago

August 4, 2026

Combination expands Prologis’ European platform and enhances long-term growth opportunities

SAN FRANCISCO, Aug. 4, 2026 /PRNewswire/ — Prologis, Inc. (NYSE: PLD) today announced that it has reached agreement with the board of SEGRO plc (LSE: SGRO) on the terms of a recommended acquisition of SEGRO, valuing SEGRO’s entire issued and to be issued ordinary share capital at approximately $18.8 billion.

Daniel S. Letter, chief executive officer of Prologis, commented:

“We are pleased to have reached agreement with the SEGRO Board on a combination that we believe will create meaningful value. This deal brings together SEGRO’s exceptional portfolio and customer relationships with Prologis’ global platform, operating expertise and financial strength.

We have great respect for SEGRO, its people and the business they have built over many years. The constructive engagement between our leadership teams throughout this process has reinforced our confidence in the opportunity ahead.

As we move forward, we will approach the work ahead thoughtfully and deliberately. We look forward to building on the strengths of both companies and creating even greater value for our customers and shareholders.”

Combination Highlights

The combination will:

bring together two premier portfolios in a global platform with approximately $269 billion of assets under management;strengthen the customer value proposition through a more connected global network;create a European operating portfolio of 368 million square feet, expanding Prologis’ European footprint by 47%;establish a combined European development pipeline of 13 million square feet while increasing Prologis’ European land bank by 126%; andexpand long-term growth opportunities across logistics, energy and digital infrastructure.

Transaction Terms

Under the terms of the recommended acquisition, SEGRO shareholders will receive 0.0920 new Prologis shares for each SEGRO share. Shareholders may elect to receive cash in lieu of some or all of their Prologis share consideration, subject to the terms of the partial cash alternative. SEGRO shareholders will also be entitled to receive and retain any 2026 interim dividend of up to 10.14 pence per SEGRO share and any 2026 final dividend of up to 22.56 pence per SEGRO share, which SEGRO intends to pay prior to closing.

The maximum aggregate amount of cash available under the partial cash alternative is approximately £3.5 billion. Each SEGRO shareholder’s basic entitlement under the partial cash alternative is equal to 25% of the fixed price of 1,031.7 pence per SEGRO share. Accordingly, a shareholder electing to receive only its basic entitlement would receive 258 pence in cash and 0.0690 new Prologis shares for each SEGRO share.

Shareholders may elect to receive less than or more than their basic entitlement. Elections to receive cash in excess of the basic entitlement will be scaled back on a pro rata basis if aggregate cash elections exceed the maximum cash available. Shareholders who do not elect to participate in the partial cash alternative will receive 0.0920 new Prologis shares for each SEGRO share.

The cash consideration payable under the partial cash alternative will be funded through a committed term loan facility, together with existing liquidity and other available sources of funding.

Further details are available in the Rule 2.7 announcement, which is posted on the transaction microsite accessible through Prologis’ investor relations website.

Expected Financial Impact

The combination is expected to enhance Prologis’ long-term earnings and return potential. In the first full year following completion, assuming annualized run-rate synergies, the combination is expected to have a broadly neutral to minimally dilutive impact on Core FFO per share and AFFO per share.

Prologis expects to maintain A2/A credit ratings from Moody’s and S&P.

Approvals and Timing

The boards of Prologis and SEGRO have reached agreement on the terms of the transaction, and the SEGRO board unanimously intends to recommend it. The transaction is expected to close in the first half of 2027, subject to the requisite approvals of SEGRO shareholders, sanction of the scheme by the court, receipt of applicable regulatory approvals and satisfaction of customary closing conditions.

The transaction does not require approval by Prologis shareholders.

As part of the transaction, Prologis will apply for a secondary listing of its shares on the London Stock Exchange, with the approval of that application being a condition to completion.

ABOUT PROLOGIS
The world runs on logistics. At Prologis, we don’t just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.

FURTHER INFORMATION
This document is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or pursuant to an exemption from registration under the Securities Act of 1933, as amended.

FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we and SEGRO operate as well as management’s beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “will,” “can” and “estimates” including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to the combination, rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we and SEGRO operate, expectations regarding new lines of business, our and SEGRO’s respective debt, capital structure and financial position, our or SEGRO’s ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) Prologis’ and SEGRO’s ability to complete the combination on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties relating to satisfying the conditions to the combination; (ii) the effect of the combination on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favorable business relationships; (iii) failure to realize expected benefits or synergies of the combination; (iv) significant transaction costs and/or unknown or inestimable liabilities; (v) the risk of shareholder litigation in connection with the combination, including resulting expense or delay; (vi) the risk that SEGRO’s business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; (vii) risks related to future opportunities and plans for the combined company, including the uncertainty of expected future financial performance and results of the combined company following the closing of the transaction; (viii) risks related to the market value of the Prologis shares to be issued as consideration in the combination, including foreign currency exchange rates; (ix) other risks related to the completion of the combination and actions related thereto; (x) international, national, regional and local economic and political climates and conditions; (xi) changes in global financial markets, interest rates and foreign currency exchange rates; (xii) increased or unanticipated competition for our properties; (xiii) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (xiv) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (xv) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (xvi) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (xvii) risks of doing business internationally, including currency risks; (xviii) environmental uncertainties, including risks of natural disasters; and (xix) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading “Risk Factors.” We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.

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SOURCE Prologis, Inc.