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Calcbench: 72 percent of S&P 500 companies reported adjusted earnings in 2025, pushing non-GAAP net income higher than “traditional” GAAP net income by $271 billion

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Adjustments to earnings remain widespread across Corporate America. S&P 500 companies routinely report “adjusted earnings.” Just how much companies are adjusting, and the substance of those adjustments, are the subject of a comprehensive annual Non-GAAP Reconciliations Report from Calcbench, in collaboration with Suffolk University’s Sawyer Business School

NEW YORK, July 16, 2026 /PRNewswire-PRWeb/ — Calcbench, a leading interactive platform for financial data from SEC filings, in collaboration with Suffolk University’s Sawyer Business School, today released its most comprehensive study to date on non-GAAP adjustments companies make to corporate earnings.

The study identified 361 S&P 500 companies that adjusted their net income or EPS figures for their fiscal year 2025 earnings. In total, the firms reported adjusted net income that was $271 billion higher than “traditional” net income as defined by Generally Accepted Accounting Principles (GAAP).

Eighty-seven percent of firms had adjusted net income that was higher than GAAP net income, and some firms (AbbVie, Broadcom, Capital One, General Motors, and Pfizer among them) reported adjusted net income that was multiple times higher than GAAP net income. Those companies’ adjustments were so substantial that they contributed materially to the $271 billion in total non-GAAP adjustments across the whole S&P 500.

This marks the fifth year that Calcbench and Suffolk University have collaborated to examine how the largest U.S. public companies adjust their U.S. Generally Accepted Accounting Principles (GAAP) figures to measure profitability. One of the most notable findings from this year’s research was a significant shift in adjustments related to gains and losses on investments. In 2025, companies’ total adjustments for investments were negative $7.9 billion (meaning companies removed investment gains from their adjusted income figures), which was a $33.5 billion swing from the positive $26.5 billion reported in 2024.

“The removal of gains and losses from investments begs the question of exactly how big these corporate investment portfolios are becoming,” says Pranav Ghai, Co-Founder and CEO of Calcbench. “But analysts and investors still need to assess whether these non-GAAP adjustments provide a clearer picture of earnings.”

“Whether or not you believe the adjustments are warranted, analyzing non-GAAP remains a critical part of understanding management’s perspective of company performance,” says Tracey Riley, Interim Dean of Suffolk University’s Sawyer Business School. “Suffolk University’s Sawyer Business School Winterns’ work spanned multiple courses, where they collected and reviewed data, and conducted in-depth analyses of the adjustments.”

Click here for the full Non-GAAP report.

Calcbench is a financial data platform designed for outperformance. Founded in 2011, the company uses the latest technology to offer instant and systematic access to all the data (numbers and text) in financial statements, including the details hidden within the footnotes. Developed by former analysts and supported by a team of financial experts, Calcbench was built for data analysts looking to go deeper. Visit http://www.calcbench.com to learn more.

Suffolk University’s Sawyer Business School offers a rigorous business education—with purpose. The school occupies an unrivaled position at the nexus of Boston’s private, public, and nonprofit sectors. Our learners enjoy unparalleled access to the city’s financial and innovation clusters, seats of government, nonprofit organizations and world-class healthcare institutions. Leveraging our distinctive location, multidisciplinary programs, world-renowned faculty, and immersive educational experiences, we empower our graduates to become innovative change agents who positively impact society at the local, national, and international levels.

Media Contact

Samantha Berg, Calcbench, 1 9175334622, samantha@calcbench.com, calcbench.com 

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SOURCE Calcbench

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Apaluma Announces $5.55 Million Seed Funding to Scale Unified Government Data Platform

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July 16, 2026

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ALBUQUERQUE, N.M., July 21, 2026 /PRNewswire/ — Apaluma, which transforms fragmented regulatory records into a unified ecosystem, today announced the closing of its $5.55 million seed funding round led by Crosslink Capital and Kickstart, co-led by Haven Ventures and Overwater Ventures, with Orange DAO and NM Vintage Fund as additional pre-seed and seed investors.

Government agencies hold the data that shapes daily life: Permits, regulations, and environmental records are all public records. Most of it sits in PDFs, scanned ledgers, and incompatible databases. It exists, but no one can use it. Apaluma transforms fragmented regulatory records into one connected ecosystem.

The records become searchable, secure, mapped to real-world locations, and governed by each agency’s own rules. The platform is purpose-built for the full regulatory life cycle and serves analysts, scientists, and regulators who need answers in hours, not weeks.

“With Apaluma, every record — from filing to enforcement — lives in one connected system,” said Apaluma founder and CEO Alicia J. Keyes. “That unification expedites permitting, speeds up FOIA requests, streamlines agency operations, and makes the regulatory life cycle of a location coherent and actionable.”

“We invest in founders who understand a problem from the inside,” said Gabby Contro of Crosslink Capital. “Alicia ran economic development for the state of New Mexico. She has sat at the nexus of sustainability and development. That firsthand insight is what convinced us that Apaluma can solve this long-fragmented problem for regulators and businesses.”

For more information, visit www.apaluma.com.

FAQ

What environmental data does Apaluma work with?

Government agencies hold the world’s most critical data sets around air, water, energy, and waste — data that shapes daily life via permits, regulations, environmental records, and public filings.

How does Apaluma unify government environmental data?

Apaluma links every facility, permit, violation, and record by meaning through data ontology, not just by keyword, so queries surface the full regulatory picture of a location.

How does Apaluma handle environmental data digitization?

Apaluma ingests decades of scanned PDFs, classifying and normalizing records into structured intelligence. The platform also connects legacy systems without rip-and-replace, so agency data stays where it lives.

Can Apaluma support a public environmental data project?

In New Mexico, the Apaluma platform ingested every public document the New Mexico Environment Department has ever filed, normalized it, and made the entire archive searchable from a single interface, with cited sources on every answer.

Does Apaluma work with air pollution data, pollution data, and air quality data for government agencies?

The platform connects monitoring feeds and sensor data to decades of permitting context on a single dashboard, unifying siloed state, federal, city, and county records into maps, charts, and dashboards in one place.

Does Apaluma offer water-quality data solutions?

Apaluma is used daily by permit reviewers, compliance officers, and water-quality analysts — all without hallucinated facts or untraceable claims.

For more information:
matthewmurray@cozen.com

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SOURCE Apaluma

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Chamber of Commerce, Industries and Agriculture of Panama Launches 2027 Trade Expo Platform to Drive Foreign Investment and Regional Growth

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July 16, 2026

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Four co-located exhibitions will connect global buyers, investors and companies across trade, logistics, energy and technology.

PANAMA CITY, July 16, 2026 /PRNewswire/ — The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) has launched its 2027 trade exhibition platform, positioning Panama as a strategic gateway for U.S. and global companies seeking access to Latin America, the Caribbean and the Andean region.

EXPOCOMER, EXPO LOGÍSTICA PANAMÁ, EXPO ELÉCTRICA INTERNACIONAL – PANAMÁ and EXPO TECH will take place April 6-8, 2027, at the Panama Convention Center in Amador. The three-day program is expected to attract more than 20,000 visitors, including buyers, exhibitors and trade missions from over 30 countries.

The platform is designed to accelerate cross-border transactions, expand market access for Panamanian and international companies, and support investment and job creation in high-growth sectors

“Panama offers an ideal environment for building high-impact partnerships and developing sustainable solutions for the Latin American market,” said Aurelio Barría Pino, president of CCIAP. “These exhibitions are powerful economic platforms that generate business opportunities, commercial transactions and employment.”

The four events will bring together decision-makers across global commerce, multimodal transportation, supply chains, infrastructure, energy efficiency, renewable energy, artificial intelligence, cybersecurity and digital transformation. The agenda will include business matchmaking, commercial showcases, executive networking and specialized forums focused on innovation and regional competitiveness.

Gustavo Taft, president of CCIAP’s Organizing Committee for Exhibitions and Events, said the initiative formally activates an international sales and promotion platform for Panama. Sustainability and environmentally responsible innovation will be central to the 2027 program.

The launch brought together senior government officials, business leaders, diplomats and representatives of multilateral financial institutions, including the Inter-American Development Bank, CAF – Development Bank of Latin America and the Caribbean, and the Central American Bank for Economic Integration.

CCIAP also highlighted World of Coffee Panama 2026, scheduled for October 23-25, when the event will be held in Latin America and in a coffee-producing country for the first time.

MEDIA CONTACT: María Eugenia Grimaldo Araúz | megrimaldo@panacamara.org | +507 207-3420, Lorena Espinosa | lespinosa@panacamara.org

View original content to download multimedia:https://www.prnewswire.com/news-releases/chamber-of-commerce-industries-and-agriculture-of-panama-launches-2027-trade-expo-platform-to-drive-foreign-investment-and-regional-growth-302828076.html

SOURCE CÁMARA DE COMERCIO DE PANAMÁ

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VARON Shares Summer Respiratory Wellness Tips and Introduces Seasonal Savings on Oxygen Solutions

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July 16, 2026

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LOS ANGELES, July 16, 2026 /PRNewswire/ — Summer is a season for outdoor activities, family gatherings and travel, but rising temperatures, humidity and changing air conditions can create challenges for individuals focused on respiratory wellness. VARON is sharing practical tips to help oxygen users stay prepared, comfortable and confident while enjoying the activities that matter most.

For people who use supplemental oxygen, planning ahead can make summer routines easier. From outdoor walks and family visits to road trips and vacations, choosing the best oxygen concentrator and preparing for changing weather conditions can help support a more active lifestyle.

Understanding Summer Conditions and Breathing Comfort

Hot temperatures can make outdoor activities feel more demanding. Planning activities during cooler parts of the day, taking regular breaks and staying hydrated are simple ways to stay comfortable during warmer months.

Humidity and seasonal air changes can also affect outdoor comfort. Checking local weather conditions, choosing suitable environments and preparing necessary supplies before leaving home can help individuals make informed decisions about daily activities.

For those who travel or spend more time outdoors during summer, portable oxygen concentrators can provide greater flexibility. Lightweight designs, rechargeable batteries and easy-to-use features allow users to maintain their routines while having access to their prescribed oxygen support.

Practical Summer Tips for Oxygen Users

To enjoy a more comfortable summer, oxygen users can consider:

Planning outdoor activities during cooler times of the dayTaking regular rest breaks when neededKeeping indoor spaces cool and well-ventilatedChecking oxygen equipment and battery levels before outingsPreparing backup power options for longer activities or travel

Having reliable equipment ready can provide additional confidence for everyday errands, family visits and seasonal adventures.

VARON Highlights Portable Oxygen Solutions for Active Living

VARON offers a range of portable and home oxygen concentrators designed to support different lifestyles. With lightweight designs, battery options and practical features, VARON oxygen solutions are created for users who want greater flexibility at home and on the go.

A featured summer option is the VARON VP-8G Super Bundle, designed for users who value mobility and extended usage. The all-in-one package includes:

VP-8G Oxygen Concentrator with standard accessoriesOne extra batteryBattery charging dock for separate battery chargingCar charger

The VP-8G Super Bundle helps users stay prepared for daily errands, outdoor activities, travel and seasonal walks with additional power and essential accessories included.

The bundle is available for a limited-time offer.

VARON Summer Sale Offers Seasonal Savings

To help customers prepare for summer respiratory wellness, VARON is offering limited-time savings across its product range:

18% OFF sitewide during the Summer SaleSpecial offers available on selected oxygen concentrators and accessories

Customers can explore VARON’s portable and home oxygen concentrators while taking advantage of seasonal savings designed to make oxygen support more accessible.

Enjoy a More Comfortable Summer

Summer is a time for connection, exploration and meaningful experiences. With thoughtful preparation, healthy routines and reliable oxygen solutions, individuals can continue enjoying outdoor activities, travel and everyday moments with greater confidence.

Check Official VARON Website

About VARON

VARON develops portable and home oxygen concentrators designed to provide convenient respiratory support solutions worldwide. Through practical designs, reliable performance and user-focused technology, VARON helps customers find oxygen solutions that support mobility, comfort and everyday living.

Media Contact:
VARON Oxygen Concentrator
Email: support@varoninc.com 
Website: https://varoninc.com/

View original content:https://www.prnewswire.com/news-releases/varon-shares-summer-respiratory-wellness-tips-and-introduces-seasonal-savings-on-oxygen-solutions-302828081.html

SOURCE VARON

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