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LENDINGTREE REPORTS SECOND QUARTER 2026 RESULTS

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3 months ago

on

Revenue Grew 25% YoY Driven By Strong Insurance Segment Performance

Consolidated revenue of $313.4 millionGAAP net income of $9.6 million or $0.68 per diluted shareVariable marketing margin of $87.3 millionAdjusted EBITDA of $35.2 million

CHARLOTTE, N.C., July 29, 2026 /PRNewswire/ — LendingTree, Inc. (NASDAQ: TREE), operator of LendingTree.com, the nation’s leading online financial services marketplace, today announced results for the quarter ended June 30, 2026.

The company has posted a letter to shareholders on the company’s website at investors.lendingtree.com.

“We posted our eighth straight quarter of double-digit year-over-year adjusted EBITDA growth in Q2, powered by another solid quarter from our Insurance segment,” said Scott Peyree, CEO.  “We also accomplished a great deal on the product and AI front during the period.  We launched several new consumer-facing AI capabilities such as our ChatGPT app, expanded our marketplace into six new verticals, and we are continuing to see strong results from our homepage redesign.  We remain laser focused as a team on executing our strategy to become the Number One Destination to Shop For Financial Products.”

Jason Bengel, CFO, commented, “Solid Insurance segment results were offset by weaker than expected Consumer performance in Q2.  Last quarter we called out an expected sequential decline in Consumer, driven by suppressed borrower demand in our small business segment.  This demand trend continued to deteriorate throughout the quarter.  However, appetite from small business owners for new loans on our network has since stabilized, and we expect sequential revenue growth through the remainder of the year.  SMB has been a great success story for our company, having grown segment revenue nearly 40% year-over-year on average dating back to the beginning of 2024.  Lenders remain very active on our network, and we expect an increase in borrower demand will allow us to climb back to, and eventually surpass, the record SMB performance in Q1 of this year based on strong structural tailwinds in the segment.”

Second Quarter 2026 Business Results

Insurance segment revenue of $209.3 million increased 42% over second quarter 2025 and translated into  segment profit of $50.0 million, up 25% over the same period.Consumer segment revenue of $60.3 million decreased 4% from the prior year period, while segment profit declined 14%.Home segment revenue of $43.9 million increased 9% over second quarter 2025 and produced segment profit of $11.3 million, a decline of 14% over the same period. Within Home, revenue from Home Equity of $34.9 million increased 15% over prior year.

LendingTree Summary Financial Metrics

(In millions, except per share amounts)

Three Months Ended

June 30,

Y/Y

Three Months Ended
March 31,

Q/Q

2026

2025

% Change

2026

% Change

Total revenue

$  313.4

$  250.1

25 %

$             327.3

(4) %

Income before income taxes

$    14.1

$    10.8

31 %

$               22.9

(38) %

Income tax expense

$     (4.5)

$     (1.9)

137 %

$                (5.6)

(20) %

Net income

$      9.6

$      8.9

8 %

$               17.3

(45) %

Net income % of revenue

3 %

4 %

5 %

Income per share

Basic

$    0.69

$    0.65

$               1.25

Diluted

$    0.68

$    0.65

$               1.22

Variable marketing margin

Total revenue

$   313.4

$  250.1

25 %

$             327.3

(4) %

Variable marketing expense (1) (2)

$  (226.1)

$ (166.5)

36 %

$            (227.8)

(1) %

Variable marketing margin (2)

$     87.3

$    83.6

4 %

$               99.5

(12) %

Variable marketing margin % of revenue (2)

28 %

33 %

30 %

Adjusted EBITDA (2)

$     35.2

$    31.8

11 %

$               42.0

(16) %

Adjusted EBITDA % of variable marketing margin (2)

40 %

38 %

42 %

(1)

Represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses.  Excludes overhead, fixed costs and personnel-related expenses. 

(2)

Variable marketing expense, variable marketing margin, variable marketing margin % of revenue, adjusted EBITDA, and adjusted EBITDA % of variable marketing margin are non-GAAP measures. Please see “LendingTree’s Reconciliation of Non-GAAP Measures to GAAP” and “LendingTree’s Principles of Financial Reporting” below for more information.

LendingTree Segment Results

(In millions)

Three Months Ended

June 30,

Y/Y

Three Months Ended March 31,

Q/Q

2026

2025

% Change

2026

% Change

Home (1)

Revenue

$    43.9

$    40.4

9 %

$               39.1

12 %

Segment profit

$    11.3

$    13.1

(14) %

$               10.0

13 %

Segment profit % of revenue

26 %

32 %

26 %

Consumer (2)

Revenue

$    60.3

$    62.5

(4) %

$               66.3

(9) %

Segment profit

$    27.6

$    32.1

(14) %

$               32.9

(16) %

Segment profit % of revenue

46 %

51 %

50 %

Insurance (3)

Revenue

$  209.3

$  147.2

42 %

$             221.9

(6) %

Segment profit

$    50.0

$    40.0

25 %

$               57.9

(14) %

Segment profit % of revenue

24 %

27 %

26 %

Other (4)

Revenue

$       —

$      —

— %

$                  —

— %

(Loss)

$    (0.1)

$      —

— %

$               (0.1)

— %

Total revenue

$  313.4

$  250.1

25 %

$            327.3

(4) %

Total segment profit

$    88.8

$    85.1

4 %

$            100.8

(12) %

     Brand marketing expense (5)

$     (1.5)

$     (1.5)

— %

$               (1.2)

25 %

Variable marketing margin

$    87.3

$    83.6

4 %

$              99.5

(12) %

Variable marketing margin % of revenue

28 %

33 %

30 %

(1)

The Home segment includes the following products: purchase mortgage, refinance mortgage, and home equity loans.

(2)

The Consumer segment includes the following products: credit cards, personal loans, small business loans, auto loans, deposit accounts and debt settlement.

(3)

The Insurance segment consists of insurance quote products and sales of insurance policies. We closed the insurance agency business and ceased the sale of insurance policies in the second quarter of 2025.

(4)

The Other category primarily includes marketing revenue and related expenses not allocated to a specific segment.

(5)

Brand marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses that are not assignable to the segments’ products. This measure excludes overhead, fixed costs and personnel-related expenses.

Financial Outlook*

Today we update our full-year 2026 outlook and provide our outlook for Q3:

Full-year 2026:*

Revenue of $1.30 to $1.32 billionVariable Marketing Margin of $364 – $374 millionAdjusted EBITDA of $145 – $152 million

Third-quarter 2026:*

Revenue:  $325 – $335 millionVariable Marketing Margin:  $88 – $93 millionAdjusted EBITDA:  $34 – $36 million

*LendingTree is not able to provide a reconciliation of projected variable marketing margin or adjusted EBITDA to the most directly comparable expected GAAP results due to the unknown effect, timing and potential significance of the effects of legal matters and tax considerations. Expenses associated with legal matters and tax considerations have in the past, and may in the future, significantly affect GAAP results in a particular period.  

Quarterly Conference Call

A conference call to discuss LendingTree’s second quarter 2026 financial results will be webcast live today, July 29, 2026 at 4:30 PM Eastern Time (ET). The live webcast is open to the public and will be available on LendingTree’s investor relations website at investors.lendingtree.com. Following completion of the call, a recorded replay of the webcast will be available on the website.

 

LENDINGTREE, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(Unaudited)

Three Months Ended

June 30,

Six Months Ended

June 30,

2026

2025

2026

2025

(in thousands, except per share amounts)

Revenue

$  313,422

$  250,116

$  640,689

$  489,844

Costs and expenses:

Cost of revenue (exclusive of depreciation and amortization shown separately below) (1)

11,269

10,029

22,965

19,937

Selling and marketing expense (1)

236,453

176,753

475,021

349,504

General and administrative expense (1)

25,710

25,034

53,700

55,694

Product development (1)

10,032

11,473

21,499

23,377

Depreciation

4,277

4,241

8,462

8,538

Amortization of intangibles

1,288

1,307

2,576

2,614

Restructuring and severance (1)

1,839

357

2,778

1,155

Litigation settlements and contingencies

756

(2)

776

15,210

Total costs and expenses

291,624

229,192

587,777

476,029

Operating income

21,798

20,924

52,912

13,815

Other income (expense), net:

Interest expense, net

(8,483)

(10,402)

(17,049)

(19,486)

Other income

832

248

1,201

1,636

Income (loss) before income taxes

14,147

10,770

37,064

(4,035)

Income tax (expense) benefit

(4,573)

(1,908)

(10,224)

522

Net income (loss) and comprehensive income (loss)

$     9,574

$     8,862

$    26,840

$    (3,513)

Weighted average shares outstanding:

Basic

13,965

13,549

13,895

13,495

Diluted

14,054

13,650

14,156

13,495

Net income (loss) per share:

Basic

$       0.69

$       0.65

$       1.93

$      (0.26)

Diluted

$       0.68

$       0.65

$       1.90

$      (0.26)

(1) Amounts include non-cash compensation, as follows:

Cost of revenue

$        169

$         58

$        274

$         28

Selling and marketing expense

925

678

1,526

1,335

General and administrative expense

3,282

3,492

6,003

11,863

Product development

828

739

1,461

1,608

Restructuring and severance

1,012

195

1,012

255

 

LENDINGTREE, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited)

June 30,
2026

December 31,
2025

(in thousands, except par value
and share amounts)

ASSETS:

Cash and cash equivalents

$   110,766

$    81,073

Accounts receivable, net

149,287

110,582

Prepaid and other current assets

39,751

38,053

Total current assets

299,804

229,708

Property and equipment, net

30,384

32,834

Operating lease right-of-use assets

29,973

31,655

Goodwill

381,539

381,539

Intangible assets, net

35,516

38,092

Deferred income tax assets

114,737

124,867

Other non-current assets

19,678

16,997

Total assets

$  911,631

$  855,692

LIABILITIES:

Current portion of long-term debt

$     3,932

$     3,926

Accounts payable, trade

47,351

6,735

Accrued expenses and other current liabilities

111,086

126,803

Total current liabilities

162,369

137,464

Long-term debt

386,351

387,694

Operating lease liabilities

41,996

43,597

Other non-current liabilities

143

140

Total liabilities

590,859

568,895

Commitments and contingencies

SHAREHOLDERS’ EQUITY:

Preferred stock $0.01 par value; 5,000,000 shares authorized; none issued or outstanding

—

—

Common stock $0.01 par value; 50,000,000 shares authorized; 17,389,706 and 17,124,837 shares
issued, respectively, and 14,034,240 and 13,769,371 shares outstanding, respectively

174

171

Additional paid-in capital

1,288,035

1,280,903

Accumulated deficit

(701,259)

(728,099)

Treasury stock; 3,355,466 and 3,355,466 shares, respectively

(266,178)

(266,178)

Total shareholders’ equity

320,772

286,797

Total liabilities and shareholders’ equity

$  911,631

$  855,692

 

LENDINGTREE, INC. AND SUBSIDIARIES

 CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Six Months Ended

June 30,

2026

2025

(in thousands)

Net cash provided by operating activities

40,717

27,743

Cash flows from investing activities:

Capital expenditures

(5,935)

(6,158)

Other investing activities

52

—

Net cash used in investing activities

(5,883)

(6,158)

Cash flows from financing activities:

Proceeds from term loan

—

50,000

Repayment of term loan

(2,000)

(6,563)

Payments related to net-share settlement of stock-based compensation, net of proceeds from exercise of stock options

(3,141)

(2,285)

Repurchase of 0.50% Convertible Senior Notes

—

(19,700)

Payment of debt costs

—

(500)

Net cash (used in) provided by financing activities

(5,141)

20,952

Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents

29,693

42,537

Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period

81,073

106,594

Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period

$   110,766

$   149,131

LENDINGTREE’S RECONCILIATION OF NON-GAAP MEASURES TO GAAP

Variable Marketing Expense

Below is a reconciliation of selling and marketing expense, the most directly comparable GAAP measure, to variable marketing expense. See “LendingTree’s Principles of Financial Reporting” for further discussion of the Company’s use of this non-GAAP measure.

Three Months Ended

June 30,
2026

March 31,
2026

June 30,
2025

(in thousands)

Selling and marketing expense

$   236,453

$   238,568

$   176,753

Non-variable selling and marketing expense (1)

(10,370)

(10,848)

(10,285)

Variable marketing expense

$   226,083

$   227,720

$   166,468

(1)

Represents the portion of selling and marketing expense not attributable to variable costs paid for advertising, direct marketing and related expenses. Includes overhead, fixed costs and personnel-related expenses.

LENDINGTREE’S RECONCILIATION OF NON-GAAP MEASURES TO GAAP

Variable Marketing Margin

Below is a reconciliation of net income, the most directly comparable GAAP measure, to variable marketing margin and net income % of revenue to variable marketing margin % of revenue. See “LendingTree’s Principles of Financial Reporting” for further discussion of the Company’s use of these non-GAAP measures.

Three Months Ended

June 30,
2026

March 31,
2026

June 30,
2025

(in thousands, except percentages)

Net income

$      9,574

$     17,266

$      8,862

Net income % of revenue

3 %

5 %

4 %

Adjustments to reconcile to variable marketing margin:

Cost of revenue

11,269

11,696

10,029

Non-variable selling and marketing expense (1)

10,370

10,848

10,285

General and administrative expense

25,710

27,990

25,034

Product development

10,032

11,467

11,473

Depreciation

4,277

4,185

4,241

Amortization of intangibles

1,288

1,288

1,307

Restructuring and severance

1,839

939

357

Litigation settlements and contingencies

756

20

(2)

Interest expense, net

8,483

8,566

10,402

Other income

(832)

(369)

(248)

Income tax expense

4,573

5,651

1,908

Variable marketing margin

$     87,339

$     99,547

$     83,648

Variable marketing margin % of revenue

28 %

30 %

33 %

(1)

Represents the portion of selling and marketing expense not attributable to variable costs paid for advertising, direct marketing and related expenses. Includes overhead, fixed costs and personnel-related expenses.

LENDINGTREE’S RECONCILIATION OF NON-GAAP MEASURES TO GAAP

Adjusted EBITDA

Below is a reconciliation of net income, the most directly comparable GAAP measure, to adjusted EBITDA and net income % of revenue to adjusted EBITDA % of revenue. See “LendingTree’s Principles of Financial Reporting” for further discussion of the Company’s use of these non-GAAP measures.

Three Months Ended

June 30,
2026

March 31,
2026

June 30,
2025

(in thousands, except percentages)

Net income

$      9,574

$     17,266

$      8,862

Net income % of revenue

3 %

5 %

4 %

Adjustments to reconcile to adjusted EBITDA:

Amortization of intangibles

1,288

1,288

1,307

Depreciation

4,277

4,185

4,241

Restructuring and severance

1,839

939

357

Loss (gain) on impairments and disposal of assets

—

3

—

Loss on investments

—

359

1,225

Non-cash compensation

5,204

4,060

4,967

Contribution to LendingTree Foundation

—

400

—

Litigation settlements and contingencies

756

20

(2)

Interest expense, net

8,483

8,566

10,402

Dividend income

(832)

(728)

(1,474)

Income tax expense

4,573

5,651

1,908

Adjusted EBITDA

$     35,162

$     42,009

$     31,793

Adjusted EBITDA % of revenue

11 %

13 %

13 %

LENDINGTREE’S PRINCIPLES OF FINANCIAL REPORTING

LendingTree reports the following non-GAAP measures as supplemental to GAAP:

Variable marketing expenseVariable marketing marginVariable marketing margin % of revenueEarnings Before Interest, Taxes, Depreciation and Amortization, as adjusted for certain items discussed below (“Adjusted EBITDA”)Adjusted EBITDA % of revenueAdjusted EBITDA % of variable marketing margin

Variable marketing expense, variable marketing margin and variable marketing margin % of revenue are related measures of the effectiveness of the Company’s marketing efforts. Variable marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing, and related expenses, and excludes overhead, fixed costs, and personnel-related expenses. Variable marketing margin is a measure of the efficiency of the Company’s operating model, measuring revenue after subtracting variable marketing expense. The Company’s operating model is highly sensitive to the amount and efficiency of variable marketing expenditures, and the Company’s proprietary systems are able to make rapidly changing decisions concerning the deployment of variable marketing expenditures (primarily but not exclusively online and mobile advertising placement) based on proprietary and sophisticated analytics.

Adjusted EBITDA, adjusted EBITDA % of revenue, and adjusted EBITDA % of variable marketing margin are primary metrics by which LendingTree evaluates the operating performance of its businesses, on which its marketing expenditures and internal budgets are based and, in the case of adjusted EBITDA, by which management and many employees are compensated in most years.

These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. LendingTree provides and encourages investors to examine the reconciling adjustments between the GAAP and non-GAAP measures set forth above.

Definition of LendingTree’s Non-GAAP Measures

Variable marketing margin is defined as revenue less variable marketing expense. Variable marketing expense is defined as the expense attributable to variable costs paid for advertising, direct marketing and related expenses, and excluding overhead, fixed costs and personnel-related expenses. The majority of these variable advertising costs are expressly intended to drive traffic to our websites and these variable advertising costs are included in selling and marketing expense on the Company’s consolidated statements of operations and consolidated income.

EBITDA is defined as net income excluding interest, income taxes, amortization of intangibles and depreciation.

Adjusted EBITDA is defined as EBITDA excluding (1) non-cash compensation expense, (2) non-cash impairment charges, (3) gain/loss on disposal of assets, (4) gain/loss on investments, (5) restructuring and severance expenses, (6) litigation settlements and contingencies, (7) acquisitions and dispositions income or expense (including with respect to changes in fair value of contingent consideration), (8) contributions to the LendingTree Foundation (9) dividend income, and (10) one-time items.  

LendingTree endeavors to compensate for the limitations of these non-GAAP measures by also providing the comparable GAAP measures with equal or greater prominence and descriptions of the reconciling items, including quantifying such items, to derive the non-GAAP measures. These non-GAAP measures may not be comparable to similarly titled measures used by other companies.

One-Time Items

Adjusted EBITDA and adjusted net income are adjusted for one-time items, if applicable. Items are considered one-time in nature if they are non-recurring, infrequent or unusual, and have not occurred in the past two years or are not expected to recur in the next two years, in accordance with SEC rules. For the periods presented in this report, there are no adjustments for one-time items.

Non-Cash Expenses That Are Excluded From LendingTree’s Adjusted EBITDA

Non-cash compensation expense consists principally of expense associated with the grants of restricted stock, restricted stock units and stock options. These expenses are not paid in cash and LendingTree includes the related shares in its calculations of fully diluted shares outstanding. Upon settlement of restricted stock units, exercise of certain stock options or vesting of restricted stock awards, the awards may be settled on a net basis, with LendingTree remitting the required tax withholding amounts from its current funds. Cash expenditures for employer payroll taxes on non-cash compensation are included within adjusted EBITDA.

Amortization of intangibles are non-cash expenses relating primarily to acquisitions. At the time of an acquisition, the intangible assets of the acquired company, such as purchase agreements, technology and customer relationships, are valued and amortized over their estimated lives.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

The matters contained in the discussion above may be considered to be “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations or anticipations of LendingTree and members of our management team. Factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the following: adverse conditions in the primary and secondary mortgage markets and in the economy, particularly interest rates and inflation; default rates on loans, particularly unsecured loans; demand by investors for unsecured personal loans; the effect of such demand on interest rates for personal loans and consumer demand for personal loans; seasonality of results; potential liabilities to secondary market purchasers; changes in the Company’s relationships with network partners, including dependence on certain key network partners; breaches of network security or the misappropriation or misuse of personal consumer information; failure to provide competitive service; our ability to compete effectively and adapt to competitive pressures in each of our businesses, including from disintermediation as well as technological change, digital disruption and other types of innovation such as artificial intelligence; failure to maintain brand recognition; ability to attract and retain consumers in a cost-effective manner; the effects of potential acquisitions of other businesses, including the ability to integrate them successfully with LendingTree’s existing operations; accounting rules related to excess tax benefits or expenses on stock-based compensation that could materially affect earnings in future periods; ability to develop new products and services and enhance existing ones; effects of changing laws, rules or regulations on our business model; allegations of failure to comply with existing or changing laws, rules or regulations, or to obtain and maintain required licenses; failure of network partners or other affiliated parties to comply with regulatory requirements; failure to maintain the integrity of systems and infrastructure; liabilities as a result of privacy regulations; failure to adequately protect intellectual property rights or allegations of infringement of intellectual property rights; and changes in management. These and additional factors to be considered are set forth under “Risk Factors” in our Annual Report on Form 10-K for the period ended December 31, 2025, in our Quarterly Report on Form 10-Q for the period ended March 31, 2026, and in our other filings with the Securities and Exchange Commission. LendingTree undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results or expectations.

About LendingTree, Inc.

LendingTree, Inc. is the parent of LendingTree, LLC and several companies owned by LendingTree, LLC (collectively, “LendingTree” or the “Company”).

LendingTree is one of the nation’s largest, most experienced online financial platforms, created to give consumers the power to win financially.  LendingTree provides customers with access to the best offers on loans, credit cards, insurance and more through its network of approximately 770 financial partners.  Since its founding, LendingTree has helped millions of customers obtain financing, save money, and improve their financial and credit health in their personal journeys. With a portfolio of innovative products and tools and personalized financial recommendations, LendingTree helps customers achieve everyday financial wins.

LendingTree, Inc. is headquartered in Charlotte, NC. For more information, please visit www.lendingtree.com. 

Investor Relations Contact:
investors@lendingtree.com 

Media Contact:
press@lendingtree.com    

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SOURCE LendingTree, Inc.

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on

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By

WEST HARTFORD, Conn., Oct. 20, 2026 /PRNewswire/ — Legrand, the global specialist in electrical and digital building infrastructures, today launched the Starline T5 DoubleBar track busway. Engineered specifically for high-density environments, the T5 DoubleBar offers the highest ampacity open-channel busway available on the market with the most pluggable space, addressing the exponential power demands of artificial intelligence and high-performance computing.

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Key Features and Benefits of the Starline T5 DoubleBar

The T5 DoubleBar eliminates spacing constraints common in traditional busduct systems and minimizes the whitespace footprint in dense data center layouts.

Unmatched AI & HPC Support: The system handles rack loads up to 150kW, meeting next-gen data center demands. It is also compatible with LVDC installations to 1000VDC.Increased Pluggable Space: The high-density double-bar architecture utilizes parallel conductors to increase amperage and pluggable space without increasing the system’s footprint.Zero-Downtime Reconfiguration: Hot-pluggable tap-off capability allows for the safe, live installation and removal of tap-off units without a system shutdown, maximizing operational continuity.True Modularity and Scalability: The modular design supports multiple ratings without system redesign. Furthermore, it is designed for future expansion up to 5000A, protecting long-term capital investments.Complete T5 Ecosystem Compatibility: The system maintains open-channel plug-in access and full compatibility with all existing T5 plug-in units.

Launching Alongside High-Capacity Plug-in Unit (HCP)

To complete this end-to-end high-density power distribution system, Legrand is simultaneously launching a new High-Capacity Plug-in Unit (HCP) designed for seamless integration directly on T5 infrastructure, including the new DoubleBar.

These new plug-in units offer up to 250A capacity and multiple enclosure formats, delivering more power through a single unit. By powering high-density AI and HPC racks directly, the HCP reduces the need for multiple lower-amperage plug-ins, simplifying the overall power delivery architecture.

For more information on the Starline T5 DoubleBar and High-Capacity Plug-in Units, visit the Starline website.

About Legrand:

Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for residential, commercial, and datacenter markets makes it a benchmark for customers worldwide. The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing a strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings that include products with enhanced value in use. Legrand reported sales of €9.5 billion in 2025. The company is listed on Euronext Paris and is a component stock of the CAC 40, CAC 40 ESG and CAC Transition Climat indexes (code ISIN FR0010307819). www.legrand.us

Media Contact:

Jaymie Scotto & Associates
+1 866.695.3629 ext. 19
jsa_legrand@jsa.net

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SOURCE Legrand DPC LLC

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Trinity Acquires Verix, Adding AI-Powered Next-Best-Action and Omnichannel Orchestration to the TrinityEDGE Platform

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32 minutes ago

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October 20, 2026

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Verix’s patented Tovana™ platform and its full team join Trinity, extending TrinityEDGE™ from what commercial teams know into what they do next

WALTHAM, Mass., Oct. 20, 2026 /PRNewswire/ — Trinity, the leader in integrating human and artificial intelligence for life sciences commercialization, today announced it has acquired Verix, the pharma-native commercial intelligence company behind the patented, AI-powered Tovana™ platform. Tovana is live today in global pharma, biotech, and specialty pharma commercial organizations, where it turns prescription, claims, clinical, and engagement data into continuous next-best-action, dynamic targeting, and omnichannel orchestration for brand, field, and digital teams. The acquisition brings Verix’s entire team into Trinity and adds an AI execution layer to TrinityEDGE. Terms were not disclosed.

Why now

Pharma has already bought AI but has not yet realized the pay off. Trinity’s 2025 Commercial and Medical IT benchmark found that 100 percent of surveyed organizations had adopted generative AI in some capacity, yet innovation confidence averaged just 3 out of 5, and every respondent described their organization as only somewhat prepared to respond rapidly to industry change. A separate Trinity benchmark of new product planning and commercial strategy leaders found only 10 percent had a clear AI strategy they were scaling across workflows. Adoption is universal yet impact is not.

The reason is rarely the model. It is the distance between an insight and the moment someone acts on it. Targeting lists go stale between planning cycles. Omnichannel plans degrade. Next-best-action tools get ignored because reps cannot see why they should trust them. Brands pay twice, once for insight and again for a separate execution vendor, and still struggle to show impact. Closing that insight-to-action loop is the problem TrinityEDGE with Tovana will solve.

The acquisition also advances Trinity’s growth strategy. Over the past three years Trinity has augmented its advisory and insights services with the TrinityEDGE productized commercialization platform, adding software, data, and AI alongside 1,500 professionals in 14 offices on five continents. Verix deepens Trinity’s presence with the brand, field, and digital buyers who sit beyond its traditional strategy and insights relationships, and establishes a dedicated AI and product development center to build and ship commercial AI at scale.

Proof, not promise

Tovana is not a new build. It has been developed and validated in live pharmaceutical and biotech deployments since 2007, across large global pharma, mid-size biotech, and specialty and rare disease organizations.

Deployed at scale in oncology and specialty markets. Tovana supports commercial teams at global pharmaceutical companies and emerging biotechs, including publicly referenced work and support for the U.S. launch of a targeted oncology immunotherapy in a market its sponsor estimates at more than $400 million.

Measured commercial lift. One of the largest pharmaceutical oncology divisions in the United States increased leading KPIs, including new prescriptions, by 15 to 25 percent with Tovana. A rare oncology therapy team improved field-facing NPS by 12x.. A medical device commercial team improved sales outcomes within three months of implementation.

Time to value measured in weeks. Tovana’s pharma-specific data foundation, automated data pipelines, and pre-built model toolkit mean clients adopt targeting and engagement models already proven in live deployments, with rapid configuration and deployment inside a single planning cycle.

What clients get

A plan that holds up between quarters. Targeting, segmentation, and channel mix update against what the market is actually doing, so the engagement plan approved in January is still the plan operating in June.

Guidance the field will actually use. Recommendations arrive sourced and explainable, grounded in Trinity’s therapeutic, launch, and benchmarking depth, and delivered inside the field workflow through FieldAdvisor. That is the difference between a next-best-action a rep follows and one a rep ignores.

One partner instead of two. Existing Trinity clients get a path from insight they already own to execution, without standing up another vendor or rebuilding integrations. Existing Verix clients keep the product, roadmap, and support they rely on, and gain Trinity’s launch, market access, and competitive benchmarking context.

Tovana capabilities will be progressively integrated into the TrinityEDGE single sign-on environment over the coming months, strengthening CustomerEDGE™ execution, with the first joint offerings expected to reach clients in 1H 2027. Verix CEO Doron Aspitz joins Trinity’s leadership team and will continue to guide the Tovana roadmap.

Leadership perspective

“Every commercial leader I meet is asking how to put AI to work where it actually changes a call, a channel mix, or a forecast,” said Scott Evangelista, Chief Executive Officer of Trinity. “Insight has outpaced execution. Teams are rich in disparate analysis and thin in decisive action in front of a customer. Verix closes that gap. Next-best-action, dynamic targeting, and omnichannel orchestration now sit inside TrinityEDGE, proven in live pharma deployments and backed by 30 years of therapeutic and commercial judgment. That is what it means to lead in integrating human and artificial intelligence for life sciences commercialization.”

“We built Verix on one conviction: commercial teams deserve intelligence that is timely, explainable, and usable in the flow of work,” said Doron Aspitz, Chief Executive Officer of Verix. “Joining Trinity is the natural next step. Clients keep the product they rely on and gain the launch, access, and competitive context that tells them whether performance is genuinely competitive. I am proud of what our teams have built and energized by what we can now build together.”

About Verix

Verix is a leading provider of advanced commercial optimization solutions for the life sciences industry. Its flagship product, Tovana™, is a patented, AI-powered SaaS platform that enables life sciences companies to optimize commercial strategy and execution. Tovana integrates advanced machine learning, agentic workflows, and deep domain expertise into a single, intuitive platform, supporting dynamic targeting and segmentation, next best action, omnichannel orchestration, patient discovery, therapeutic landscape analysis, opportunity assessment, and bottom-up forecasting. Founded in 2007, Verix serves pharmaceutical, biotech, and specialty pharma commercial organizations from offices in the United States and Israel.

About Trinity

Trinity is a life sciences commercialization company that combines deep therapeutic, functional, and commercial expertise with AI-powered platforms. For more than 30 years, pharmaceutical, biotech, and medtech companies have relied on Trinity to connect strategy, data, and execution—supporting better decisions, more confident launches, and sustained commercial performance. Trinity helps clients turn insight into action and bring innovations to market with greater speed and confidence. Learn more at trinitylifesciences.com.

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SOURCE Trinity

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Baker Hill Launches $10,000 Battle of OKC Pitch Competition for Veteran Entrepreneurs

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32 minutes ago

on

October 20, 2026

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New competition brings Baker Hill, The Verge OKC, IVMF, Gradient, and Oklahoma SBDC together to support Oklahoma veterans as they build and grow businesses

OKLAHOMA CITY, Oct. 20, 2026 /PRNewswire/ — Oklahoma veteran entrepreneurs will have the opportunity to compete for $10,000, showcase their businesses and connect with resources to help them grow through Battle of OKC, a new business pitch competition culminating live on Veterans Day in Oklahoma City.

Baker Hill today announced the competition in collaboration with The Verge OKC and the Institute for Veterans and Military Families (IVMF), Gradient and Oklahoma SBDC. Battle of OKC will bring veteran entrepreneurs together with business leaders, mentors and community resources while giving them a platform to put their ideas and businesses in the spotlight.

“Veterans know how to lead, adapt and find a way forward when the path isn’t obvious — the same qualities it takes to build a business,” said Andy Ivankovich, chairman and CEO of Baker Hill. “Battle of OKC is about putting opportunity behind that potential. We want to give veteran entrepreneurs a platform to tell their stories, connect with people and resources that can help them grow and compete for capital that can make a meaningful difference in what comes next.”

Battle of OKC is open Veteran entrepreneurs whose business is majority veteran-owned, has operated for at least one year, and is registered in Oklahoma. Applicants will begin by submitting a three-minute video introducing their business, the opportunity they see and why they are ready to take the next step. A panel will select 10 entrepreneurs to advance to finals.

Ten finalists will then advance to the live Battle of OKC on Veterans Day, Wednesday, Nov. 11, at the Verge in Oklahoma City, where they will pitch before a panel of judges and compete for a $10,000 grand prize.

The Verge OKC, a nonprofit community that helps turn ideas into impactful businesses, will help recruit and coach participating entrepreneurs throughout the competition.

“The Verge is all about connecting entrepreneurs with the people, resources, and opportunities they need to turn their ideas into thriving businesses”, said Kristin Garcia, Executive Director. “We’re excited to be part of Battle of OKC and to purposefully create space for our military community to engage with Oklahoma’s entrepreneurial ecosystem. Veterans bring valuable skills, leadership, and unique perspectives to business ownership, and they deserve to know there’s a community here ready to support them as they build and grow their businesses.”

The D’Aniello Institute for Veterans and Military Families (IVMF), will provide support outreach and recruitment/connect participating veterans with entrepreneurship resources/provide expertise.

“Just last month, we brought together veteran entrepreneurs, business leaders, and community partners in Oklahoma City for the Military Entrepreneurship Forum. Battle of OKC is a great example of how that momentum continues, with the community coming together to recognize, celebrate, and invest in Oklahoma’s veteran-owned businesses, said Barbara E. Carson, Managing Director, Programs and Policy. D’Aniello Institute for Veterans and Military Families. “At the D’Aniello IVMF, we know that when veteran entrepreneurs have access to the right networks, resources, and opportunities, they can build thriving businesses that strengthen their communities.”

Oklahoma SBDC will also provide recruitment and pitch coaching for the finalists the week of the event. “This collaboration brings together partners with complementary expertise to support Oklahoma’s veteran business owners,” said Dr. Michele Hockersmith, state director of the Oklahoma SBDC. “Our role is to help entrepreneurs connect their pitch to a sound business strategy, with clear financials and realistic growth plans. That preparation has value for the competition and beyond.”

Battle of OKC is designed to provide more than a stage and a prize. By bringing together veteran entrepreneurs, business leaders and organizations committed to supporting entrepreneurship, the competition creates connections and access to expertise that can continue well beyond the final pitch.

Veteran entrepreneurs interested in competing can learn more about eligibility and submit their three-minute video pitch at www.bakerhill.com/okc. Applications close October 29. Ten finalists will be selected to compete live in Oklahoma City on Veterans Day.

About Baker Hill
Baker Hill is the leading provider of commercial lending technology for banks and credit unions across the United States. Each month, financial institutions use Baker Hill’s platform to process more than $7 billion in lending originations — helping them Lend Better, Lend Faster, and Lend More™ in their communities. Backed by Flexpoint Ford, a private equity firm, Baker Hill delivers the scale, security and innovation required to meet the demands of modern banking. The company is headquartered in Carmel, Indiana, with operations in Santa Barbara, California. For more information, visit www.bakerhill.com.

About The Verge OKC
The Verge OKC, a 501(c)(3) nonprofit community that helps turn ideas into impactful businesses, will help recruit and coach participating entrepreneurs throughout the competition. Learn more: https://www.vergeokc.com 

About the D’Aniello Institute for Veterans and Military Families
The IVMF at Syracuse University is higher education’s first interdisciplinary academic institute, singularly focused on advancing the post-service lives of the nation’s military veterans and their families to serve those who have served. Learn more: https://ivmf.syracuse.edu 

About Oklahoma SBDC
The Oklahoma Small Business Development Center (Oklahoma SBDC) provides confidential, no-cost business advising, training and market research to help entrepreneurs start and grow businesses statewide. Hosted by Southeastern Oklahoma State University, the state-wide network helps business owners strengthen financial plans, prepare for financing and pursue growth opportunities. Learn more at www.oksbdc.org.

About Gradient
Gradient represents the blending of diverse ideas, people, and perspectives, adding texture and depth to our community. As one of the nation’s largest innovation hubs, Gradient fosters meaningful connections, nurtures bold ideas, and provides concierge introductions to entrepreneurial resources. Learn more at www.joingradient.com

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SOURCE Baker Hill

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