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Cryoport Reports Second Quarter 2026 Financial Results

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Second quarter revenue grew 8% year-over-year to $49.0 millionLife Sciences Services revenue increased 15% year-over-yearBioStorage/BioServices revenue grew 25% year-over-year Supporting 779 global clinical trials and 22 commercially approved cell and gene therapies (CGT) as of June 30, 2026

NASHVILLE, Tenn., Aug. 6, 2026 /PRNewswire/ — Cryoport, Inc. (NASDAQ: CYRX) (“Cryoport” or the “Company”), a leading global provider of integrated temperature-controlled supply chain solutions for the life sciences, today announced financial results for its second quarter (Q2) and first half (H1) of 2026.

Jerrell Shelton, CEO of Cryoport, commented, “Our revenue momentum over the past several periods continued into the second quarter, with total revenue reaching $49.0 million. Life Sciences Services revenue grew 15% year-over-year, led by 25% growth in BioStorage/BioServices revenue. Our Life Sciences Products business also generated solid results during the quarter, driven by continued demand for MVE Biological Solutions’ industry-leading cryogenic systems and the successful introduction of new and innovative products.

“Total revenue from the support of commercial CGT grew 9% year-over-year to $9.4 million. The Life Science Services portion of our revenue from supporting commercial CGT grew 26% year-over-year as the number of patients treated in the community setting and on an outpatient basis continued to ramp. Total revenue for the quarter from supporting CGT clinical trials increased 12% year-over-year to $13.4 million as our customers’ clinical pipelines advanced and further matured. We supported a record 779 clinical trials globally as of June 30, 2026, reflecting the strength of our industry-leading position as the CGT market continues to advance.

“Our second quarter results also reflect meaningful progress on our “pathway to profitability.” Achieving positive adjusted EBITDA in the second quarter represents an important milestone in our ongoing pathway to sustainable profitability and demonstrates the value of our strategic investments and operational initiatives we have executed over the past several years. We are pleased with this accomplishment as we continue to optimize our global operations, leverage our expanding infrastructure, and benefit from the operating leverage that we anticipate will take effect as we increasingly scale and put our investments to work.

“Overall, we delivered a strong second quarter, generating growth across key revenue streams, improving profitability, and achieving an important milestone with positive adjusted EBITDA for the quarter. With our accomplishments to date, we believe that we are well positioned to further expand margins, enhance operating efficiency, and deliver sustainable, profitable long-term growth for our shareholders. We remain focused on executing our strategy, driving financial performance, and capitalizing on the significant opportunities before us. We expect upcoming growth catalysts in our business segments, represented by the expansion of our Global Supply Chain Center Network and recent launches of new products and services, will drive us to new heights in market position, growth, and productivity,” concluded Mr. Shelton.

The following table presents Q2 2026 revenue compared with Q2 2025:

Cryoport, Inc. and Subsidiaries

Revenue 

Three Months Ended
June 30,
(unaudited)

Six Months Ended
June 30,
(unaudited)

(in thousands)

2026

2025

% Change

2026

2025

% Change

Life Sciences Services

$       27,969

$     24,369

15 %

$     54,867

$     47,234

16 %

BioLogistics Solutions

22,359

19,874

13 %

44,027

38,404

15 %

BioStorage/BioServices 

5,610

4,495

25 %

10,840

8,830

23 %

Life Sciences Products

$       21,002

$     21,085

0 %

$     41,902

$     39,260

7 %

Total Revenue

$       48,971

$     45,454

8 %

$     96,769

$     86,494

12 %

BioLogistics Solutions revenue increased 13% year-over-year in Q2 2026, driven by increasing customer activity, continued commercial product development, and clinical advancement within the CGT market. BioStorage/BioServices revenue grew 25% year-over-year, reflecting strong demand for our expanded, integrated services offering, which provides seamless, secure handling of temperature-sensitive materials across our global network.

As of June 30, 2026, the number of commercial cell and gene therapies we support increased to 22 and our total clinical trial count that we support rose to 779 clinical trials worldwide, a net increase of 51 clinical trials over June 30, 2025, with 94 of these clinical trials in Phase 3. The number of trials by phase and region are as follows:

Cryoport Supported Clinical Trials by Phase

Clinical Trials

June 30,

2024

2025

2026

Phase 1

286

304

316

Phase 2

322

342

369

Phase 3

76

82

94

Total

684

728

779

Cryoport Supported Clinical Trials by Region

Clinical Trials

June 30,

2024

2025

2026

Americas

525

556

579

EMEA

114

124

145

APAC

45

48

55

Total

684

728

779

In Q2 2026, four of our customers filed Biologics License Applications (BLA) / Marketing Authorization Applications (MAA). During the Q2 2026, Cryoport’s customer, Orca Bio, received U.S. Food and Drug Administration (FDA) approval for TREGZI™ as the first and only precision-engineered cell therapy for allogeneic stem cell transplant in the treatment of adults with hematological malignancies. Additionally, during Q2 2026, Vertex Pharmaceuticals received supplemental approval from the FDA to expand the label of CASGEVY® for the treatment of patients aged two years and older with either sickle cell disease (SCD) with recurrent vaso-occlusive crises (VOCs) or transfusion-dependent beta thalassemia (TDT). CASGEVY is the first approved gene therapy indicated for children as young as two years for both SCD and TDT. For the balance of 2026, we anticipate another 11 possible BLA/MAA applications, five possible additional new therapy approvals, and one possible additional approval for label/geographic expansion from our customer base.

Operational milestones

Cryoport Systems’ IntegriCell® cryopreservation services were selected by Verismo Therapeutics, a clinical-stage CAR T-cell therapy company pioneering a novel multi-chain KIR-CAR platform technology for the treatment of solid tumors (SynKIR™-110) and B cell associated disorders and malignancies (SynKIR™-310).Advanced toward the planned launch of BioServices operations at our Global Supply Chain Center in Paris, France, expected in Q4 2026.Continued progress toward the launch of our state-of-the-art Global Supply Chain Center in Santa Ana, California, expected in Q4 2026.Shipped first HE freezers “made in China for China” from our Chengdu, China manufacturing facility.

Financial Highlights

On June 11, 2025, the Company completed the divestiture of its CRYOPDP specialty courier business to DHL Group. The results of CRYOPDP, a former business within Cryoport’s Life Sciences Services segment, are presented as discontinued operations for all periods and are excluded from the non-GAAP financial measures in this release.

Revenue

Total revenue for Q2 2026 was $49.0 million, compared to $45.5 million for Q2 2025, a year-over-year increase of 8%, or $3.5 million. Life Sciences Services revenue for Q2 2026 (representing 57% of our total revenue) was $28.0 million, compared to $24.4 million for Q2 2025, up 15% year-over-year, including BioStorage/BioServices revenue of $5.6 million, up 25% year-over-year. Life Sciences Products revenue for Q2 2026 (representing 43% of our total revenue) was $21.0 million, compared to $21.1 million for Q2 2025.Total revenue for H1 2026 was $96.8 million, compared to $86.5 million for H1 2025. Life Sciences Services revenue for H1 2026 was $54.9 million, compared to $47.2 million for H1 2025, including BioStorage/BioServices revenue of $10.8 million, compared to $8.8 million for H1 2025. Life Sciences Products revenue for H1 2026 was $41.9 million, compared to $39.3 million for H1 2025.

Gross Margin

Total gross margin was 46.6% for Q2 2026, compared to 47.0% for Q2 2025. Gross margin for Life Sciences Services was 49.9% for Q2 2026, compared to 48.9% for Q2 2025. Gross margin for Life Sciences Products was 42.2% for Q2 2026, compared to 44.9% for Q2 2025.Total gross margin was 46.2% for H1 2026, compared to 46.3% for H1 2025. Gross margin for Life Sciences Services was 49.4% for H1 2026, compared to 48.4% for H1 2025. Gross margin for Life Sciences Products was 42.1% for H1 2026, compared to 43.7% for H1 2025.

Operating Costs and Expenses

Operating costs and expenses were $32.9 million for Q2 2026, compared to $31.0 million for Q2 2025. Operating costs and expenses were $64.4 million for H1 2026, compared to $56.9 million for H1 2025.

Loss from Continuing Operations

Loss from continuing operations was $8.3 million for Q2 2026, compared to a loss of $12.0 million for Q2 2025. Loss from continuing operations was $17.7 million for H1 2026, compared to a loss of $18.8 million for H1 2025.

Net Income (Loss) – including Discontinued Operations

Net loss was $8.3 million for Q2 2026, compared to net income of $108.9 million for Q2 2025. Net loss for H1 2026 was $18.8 million, compared to net income of $96.9 million for H1 2025. Net income for Q2 2025 and H1 2025 was primarily driven by the sale of our CRYOPDP specialty courier business during Q2 2025, which contributed $120.9 million and $115.6 million, net of taxes, respectively, to income from discontinued operations.Net loss attributable to common stockholders for Q2 2026 was $10.3 million, or $0.20 per share. Net loss attributable to common stockholders for H1 2026 was $22.8 million, or $0.45 per share. This compares to net income attributable to common stockholders of $106.9 million, or $2.13 per share, and $92.9 million, or $1.85 per share, for Q2 2025 and H1 2025, respectively.

Adjusted EBITDA from Continuing Operations

Adjusted EBITDA from continuing operations was $0.4 million for Q2 2026, compared to a negative $0.9 million for Q2 2025. Adjusted EBITDA from continuing operations for H1 2026 was a negative $0.2 million, compared to a negative $3.7 million for H1 2025.

Cash, Cash equivalents, and Short-Term Investments

Cryoport held $396.7 million in cash, cash equivalents, and short-term investments as of June 30, 2026.

Note: All reconciliations of GAAP to adjusted (non-GAAP) figures above are detailed in the reconciliation tables included later in the press release.

Additional Information

Further information on Cryoport’s financial results is included in the attached condensed consolidated balance sheets and statements of operations, and additional explanations of Cryoport’s financial performance are provided in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, which is expected to be filed with the Securities and Exchange Commission (“SEC”) on August 6, 2026. Additionally, the full report will be available in the SEC Filings section of the Investor Relations section of Cryoport’s website at www.cryoportinc.com.

Earnings Conference Call Information

IMPORTANT INFORMATION: In addition to the earnings release, a document titled “Cryoport Second Quarter 2026 in Review,” providing a review of Cryoport’s business update, will be issued at 4:05 p.m. ET on Thursday, August 6, 2026. The document is designed to be read in advance of the questions and answers conference call and will be accessible at https://ir.cryoportinc.com/news-events/ir-calendar.

Cryoport management will host a conference call at 5:00 p.m. ET on August 6, 2026. The conference call will be in the format of a questions and answers session and will address any queries investors have regarding the Company’s reported results. A slide deck will accompany the call.

Conference Call Information

Date:

Thursday, August 6, 2026

Time:

5:00 p.m. ET

Dial-in numbers:

1-800-717-1738 (U.S.), 1-646-307-1865 (International)

Confirmation code:

Request the “Cryoport Call” or Conference ID: 1142151

Live webcast:

‘Investor Relations’ section at www.cryoportinc.com or click here.

Please allow 10 minutes prior to the call to visit this site to download and install any necessary audio software.

The questions and answers call will be recorded and available approximately three hours after completion of the live event in the Investor Relations section of the Company’s website at www.cryoportinc.com for a limited time. To access the replay of the questions and answers click here. A dial-in replay of the call will also be available to those interested, until August 13, 2026. To access the replay, dial 1-844-512-2921 (United States) or 1-412-317-6671 (International) and enter replay entry code: 1142151#.

About Cryoport, Inc.

Cryoport, Inc. (Nasdaq: CYRX) is a leading global provider of integrated temperature-controlled supply chain solutions for the life sciences, with an emphasis on regenerative medicine. We support biopharmaceutical companies, contract manufacturers (CDMOs), contract research organizations (CROs), developers, and researchers with a comprehensive suite of services and products designed to minimize risk and maximize reliability across the temperature-controlled supply chain for the life sciences. Our integrated supply chain platform includes the Cryoportal® Logistics Management Platform, advanced temperature-controlled packaging, informatics, specialized BioLogistics, BioStorage, BioServices, cryopreservation services, and cryogenic systems, which in varying combinations deliver end-to-end solutions that meet the rigorous demands of the life sciences. With innovation, regulatory compliance, and agility at our core, we are “Enabling the Future of Medicine™.” 

Headquartered in Nashville, Tennessee, our company maintains a strong global presence with operations across the Americas, EMEA, and APAC.

For more information, visit www.cryoportinc.com or follow via LinkedIn at https://www.linkedin.com/company/cryoportinc or @cryoport on X, formerly known as Twitter at https://x.com/cryoport for live updates.

Forward-Looking Statements

Statements in this press release which are not purely historical, including statements regarding the Company’s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, those related to the Company’s industry, business, long-term growth prospects, plans, strategies, acquisitions, future financial results and financial condition, such as the Company’s outlook and guidance for full-year 2026 revenue and the related assumptions and factors expected to drive revenue, projected growth trends in the markets in which the Company operates, the Company’s plans and expectations regarding the launch of new products and services, such as the expected timing and benefits of such products and services launches, the Company’s expectations about future benefits of its acquisitions, and anticipated regulatory filings, approvals, label/geographic expansions or moves to earlier lines of treatment approved with respect to the products of the Company’s clients. Forward-looking statements also include those related to the Company’s plans regarding its Global Supply Chain Centers, including expected timing of future openings, the Company’s anticipation that it will benefit from its operating leverage, the Company’s belief that it is well positioned to further expand margins, enhance operating efficiency and deliver sustainable, profitable long-term growth for its shareholders, and the Company’s expectation that upcoming growth catalysts in its business segments will drive the Company to new heights in market position, growth, and productivity. It is important to note that the Company’s actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effects of changing economic and geopolitical conditions, such as those resulting from the war with Iran, supply chain constraints, inflationary pressures, the effects of foreign currency fluctuations, trends in the products markets, variations in the Company’s cash flow, market acceptance risks, the effects of tariffs and other trade restrictions, and technical development risks. The Company’s business could be affected by other factors discussed in the Company’s SEC reports, including in the “Risk Factors” section of its most recently filed periodic reports on Form 10-K and Form 10-Q, as well as in its subsequent filings with the SEC. The forward-looking statements contained in this press release speak only as of the date hereof and the Company cautions investors not to place undue reliance on these forward-looking statements. Except as required by law, the Company disclaims any obligation and does not undertake to update or revise any forward-looking statements in this press release.

Cryoport, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

Three Months Ended
June 30,
(unaudited)

Six Months Ended
June 30,
(unaudited)

(in thousands, except share and per share data)

2026

2025

2026

2025

Revenue

Life Sciences Services revenue

$                  27,969

$                 24,369

$                  54,867

$                 47,234

Life Sciences Products revenue

21,002

21,085

41,902

39,260

Total revenue

48,971

45,454

96,769

86,494

Cost of revenue:

Cost of services revenue

14,008

12,449

27,755

24,369

Cost of products revenue

12,139

11,628

24,277

22,107

Total cost of revenue

26,147

24,077

52,032

46,476

Gross margin

22,824

21,377

44,737

40,018

Operating costs and expenses:

Selling, general and administrative

28,011

26,908

55,631

48,809

Engineering and development

4,852

4,118

8,759

8,052

Total operating costs and expenses:

32,863

31,026

64,390

56,861

Loss from operations

(10,039)

(9,649)

(19,653)

(16,843)

Other income (expense):

Investment income

3,132

1,466

6,222

3,039

Interest expense

(518)

(618)

(950)

(1,201)

Other expense, net

(325)

(2,939)

(2,693)

(3,239)

Loss before provision for income taxes

(7,750)

(11,740)

(17,074)

(18,244)

Provision for income taxes

(505)

(274)

(613)

(508)

Loss from continuing operations

$                  (8,255)

$                (12,014)

$                (17,687)

$                (18,752)

Income (loss) from discontinued operations, net

–

120,883

(1,112)

115,640

Net income (loss)

$                  (8,255)

$               108,869

$                (18,799)

$                 96,888

Paid-in-kind dividend on Series C convertible preferred stock

(2,000)

(2,000)

(4,000)

(4,000)

Net income (loss) attributable to common stockholders

$                (10,255)

$               106,869

$                (22,799)

$                 92,888

Net income (loss) per share attributable to common stockholders – basic and diluted

$                    (0.20)

$                     2.13

$                    (0.45)

$                     1.85

Weighted average common shares issued and outstanding – basic and diluted

50,442,796

50,257,112

50,173,730

50,102,918

Gross margin – Total [%]

46.6 %

47.0 %

46.2 %

46.3 %

Gross margin – Services [%]

49.9 %

48.9 %

49.4 %

48.4 %

Gross margin – Products [%]

42.2 %

44.9 %

42.1 %

43.7 %

 

Cryoport, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

June 30,

December 31,

2026

2025

(in thousands)

(unaudited)

Current assets

Cash and cash equivalents

$                    269,267

$                    250,494

Short-term investments

127,426

160,714

Accounts receivable, net

36,454

33,359

Inventories

21,506

23,188

Prepaid expenses and other current assets

5,550

8,419

Total current assets

460,203

476,174

Property and equipment, net

94,516

85,448

Operating lease right-of-use assets

40,323

39,720

Intangible assets, net

135,992

138,082

Goodwill

22,068

22,400

Deposits

2,038

2,092

Deferred tax assets

1,064

1,073

 Total assets 

$                    756,204

$                    764,989

Current liabilities

Accounts payable and other accrued expenses

$                      16,247

$                      15,283

Accrued compensation and related expenses

12,186

12,980

Deferred revenue

1,720

943

Current portion of operating lease liabilities

3,937

4,133

Current portion of finance lease liabilities

448

422

Current portion of convertible senior notes, net

185,687

185,094

Current portion of notes payable

159

163

Current portion of contingent consideration

652

–

Total current liabilities

221,036

219,018

Notes payable, net

985

1,087

Operating lease liabilities, net

40,076

39,078

Finance lease liabilities, net

726

741

Deferred tax liabilities

1,850

1,354

Other long-term liabilities

832

444

Contingent consideration

–

629

Total liabilities

265,505

262,351

Total stockholders’ equity

490,699

502,638

Total liabilities and stockholders’ equity

$                    756,204

$                    764,989

Note Regarding Use of Non-GAAP Financial Measures

To supplement our financial statements, which are presented on the basis of U.S. generally accepted accounting principles (GAAP), the following non-GAAP measure of financial performance as defined in Regulation G of the Securities Exchange Act of 1934 is included in this release: adjusted EBITDA from continuing operations. Non-GAAP financial measures are not calculated in accordance with GAAP, are not based on any comprehensive set of accounting rules or principles and may be different from non-GAAP financial measures presented by other companies. Non-GAAP financial measures, including adjusted EBITDA from continuing operations, should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.

Adjusted EBITDA from continuing operations is defined as loss from continuing operations adjusted for net interest expense, income taxes, depreciation and amortization expense, stock-based compensation expense, acquisition and integration costs, cost reduction initiatives, investment income, unrealized (gain)/loss on investments, foreign currency loss, changes in fair value of contingent consideration and charges or gains resulting from non-recurring events, as applicable.

Management believes that adjusted EBITDA from continuing operations provides a useful measure of Cryoport’s operating results, a meaningful comparison with historical results and with the results of other companies, and insight into Cryoport’s ongoing operating performance. Further, management and the Company’s board of directors utilize adjusted EBITDA from continuing operations to gain a better understanding of Cryoport’s comparative operating performance from period to period and as a basis for planning and forecasting future periods. Adjusted EBITDA from continuing operations is also a significant performance measure used by Cryoport in connection with its incentive compensation programs. Management believes adjusted EBITDA from continuing operations, when read in conjunction with Cryoport’s GAAP financials, is useful to investors because it provides a basis for meaningful period-to-period comparisons of Cryoport’s ongoing operating results, including results of operations, against investor and analyst financial models, helps identify trends in Cryoport’s underlying business and in performing related trend analyses, and it provides a better understanding of how management plans and measures Cryoport’s underlying business.

Cryoport, Inc. and Subsidiaries

Reconciliation of GAAP loss from continuing operations to adjusted EBITDA

(unaudited)

Three Months Ended
June 30,

Six Months Ended
June 30,

2026

2025

2026

2025

(in thousands)

GAAP loss from continuing operations

$          (8,255)

$          (12,014)

$         (17,687)

$         (18,752)

Non-GAAP adjustments to loss:

Depreciation and amortization expense

6,589

6,249

12,991

12,383

Acquisition and integration costs

—

30

—

31

Cost reduction initiatives

140

266

140

482

Investment income

(3,132)

(1,466)

(6,222)

(3,039)

Unrealized (gain) loss on investments

(212)

1,082

1,893

1,275

Foreign currency loss

651

2,002

1,105

2,247

Interest expense, net

518

618

950

1,201

Stock-based compensation expense

2,402

2,045

4,797

5,109

Change in fair value of contingent consideration

27

—

42

(5,178)

Income taxes

505

274

613

508

Other adjustments

1,142

—

1,142

—

Adjusted EBITDA from continuing operations

$               375

$               (914)

$               (236)

$           (3,733)

 

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SOURCE Cryoport, Inc.

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FatakSecure Partners with Zurich Kotak General Insurance to Expand Access to Digital Insurance Solutions

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MUMBAI, India, Nov. 12, 2026 /PRNewswire/ — FatakSecure today announced its partnership with Zurich Kotak General Insurance as a Corporate Agent, marking a strategic collaboration aimed at distributing various insurance solutions through digital channels.

Through this partnership, FatakSecure will leverage its digital platform to make insurance solutions more accessible and convenient for customers, while Zurich Kotak General Insurance will offer innovative insurance solutions and underwriting expertise, as part of the company’s broader strategy of expanding its digital ecosystem and reaching customers through innovative distribution channel. Together, the two organisations aim to strengthen insurance distribution and create a seamless digital experience for customers.

Under the partnership:

FatakSecure will act as a Corporate Agent to distribute Zurich Kotak General Insurance’s affinity and motor insurance solutions through its digital platform.Zurich Kotak General Insurance will provide insurance products and support the development of customer-centric insurance offerings.Both organisations will explore opportunities to expand into retail and embedded insurance and identify synergies that enhance customer reach through digital channels.

Commenting on the partnership, Bikash Chaudhary, CEO, FatakSecure, said: “At FatakSecure, our focus has always been on making financial protection solutions more accessible through a seamless digital experience. Our partnership with Zurich Kotak General Insurance marks an important milestone in strengthening insurance offerings and enabling customers to access insurance solutions with greater ease. We look forward to working together to co-create and deliver customer-centric solutions that address evolving protection needs and create long-term value.”

Mr. Birendra Mohanty, Chief Business Officer, Zurich Kotak General Insurance, added, “At Zurich Kotak, we are constantly working towards making protection solutions accessible wherever customers live, transact and engage digitally. Our association with FatakSecure reflects our commitment to making insurance more accessible and convenient for customers. By combining our risk expertise and product innovation capabilities with FatakSecure’s digital platform, we will be able to deliver superior solutions to customers and support the broader agenda of Insurance for All by 2047.”

About FatakSecure:

FatakSecure is a subsidiary of FatakPay Digital. It is licensed as a Composite Corporate Agent to solicit and sale insurance products. FatakSecure is an Insurtech platform enabling digital businesses to seamlessly embed tailored insurance products into their customer journeys. It works with digital NBFCs, lending platforms, fintechs, e-commerce and quick-commerce companies, and gig-economy and rider platforms to simplify insurance distribution and make relevant protection more accessible. Through robust API integrations, digital dashboards, automated MIS, and seamless financial reconciliation, FatakSecure enables partners to streamline and manage their insurance distribution processes while staying focused on their core business. The company is committed to making insurance simpler, transparent, and accessible through technology.

For more information, visit www.fataksecure.com

About FatakPay:

FatakPay is a Mumbai-based fintech platform focused on enabling instant, accessible financial solutions for underserved and emerging India. Through its suite of offerings, including instant loans, insurance, investments, and credit improvement tools, FatakPay aims to simplify and expand access to formal finance. Operating through its subsidiaries, FDPL Finance Pvt. Ltd. (an NBFC registered with the Reserve Bank of India) and FatakSecure (an insurance platform aligned with Insurance Regulatory and Development Authority of India guidelines), the company offers products ranging from instant loans of up to ₹20,000 and personal loans of up to ₹5 lakh, to affordable insurance solutions. Its ecosystem also includes credit-building tools like FatakUdaan, along with digital investment options such as gold and silver. Founded by Ajit Kumar and Abhishek Gandhi (co-founders of RupeeCircle), along with Amit Lodha and Amit Goyal, FatakPay is committed to building a financially resilient India by empowering users with simple, transparent, and reliable financial solutions.

About Zurich Kotak General Insurance:

About Zurich Kotak General Insurance: Zurich Kotak General Insurance Company (India) Limited ((Zurich Kotak General Insurance) is a 70:30 joint venture between Zurich Insurance Group and Kotak Mahindra Bank. The company adopted its new name in August 2024, following Zurich Insurance Group’s acquisition of a 70% stake in Kotak Mahindra General Insurance Company Limited. Originally established in 2015, Zurich Kotak has evolved into one of the youngest and fastest-growing non-life insurance firms in India. The company offers a comprehensive suite of non-life insurance products in Retail and Commercial segments designed to meet the evolving needs of individuals, families, and businesses. Backed by the global legacy of Zurich and the trusted brand of Kotak, the company is committed to building a modern, technology-driven insurance franchise that delivers reliable protection and long-term value, which supports India’s growing insurance penetration and financial resilience.

 

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Desay SV Opens Smart Manufacturing Facility in Linares, Spain, Strengthening Its European Presence

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LINARES, Spain, Nov. 12, 2026 /PRNewswire/ — Desay SV today officially inaugurated its new smart manufacturing facility in Linares, Spain, marking another important step in putting its “In Europe, with Europe, for All” commitment into practice. The facility strengthens the company’s local manufacturing and customer-support capabilities and enables closer collaboration with automotive customers across Europe.

Held at Santana Tech Park, the opening ceremony and press conference brought together Desay SV’s senior leadership, representatives of the Spanish central and regional governments, automotive OEM customers, and industry stakeholders. Among the distinguished guests was Núria Aymerich Rocavert, Special Commissioner for Industrial Competitiveness and Small and Medium-sized Enterprises (SMEs) at the Ministry of Industry and Tourism of the Government of Spain.

Building a Localized Manufacturing Hub in Europe

With a total built-up area of approximately 20,000 square metres, the Linares facility serves as a key regional hub for Desay SV, integrating localized manufacturing, engineering, and customer support in Europe. Upon completion of its planned phases, the facility will have a maximum designed annual production capacity of 2.8 million units, providing the flexibility to respond to evolving OEM demand.

The site will cover the production of a range of automotive products, including automotive displays and smart cockpit domain controllers, supporting the evolving needs of European automakers as vehicles become increasingly connected, intelligent, and software-defined. Mass production is expected to begin in the first quarter of 2027.

Strengthening Industrial Cooperation with Spain

Desay SV’s investment in Linares reflects the company’s confidence in Spain’s automotive industrial base and the region’s potential as a strategic location for advanced manufacturing. The project is expected to contribute to local industrial capabilities, supply-chain resilience, and skilled employment. 

“Spain continues to strengthen its position as a leading European hub for automotive excellence and technological innovation. Desay SV’s investment in Linares reflects the strength of Spain’s industrial ecosystem and contributes to our shared ambition to advance sustainable mobility and strengthen the competitiveness of the European automotive industry.”

— Núria Aymerich Rocavert, Special Commissioner for Industrial Competitiveness and SMEs at Spain’s Ministry of Industry and Tourism.

“Desay SV’s investment in Linares is a transformative milestone for Andalusia’s industrial future. Driven by our 22% surge in regional industrial output, we are proud to welcome a world-class automotive technology leader to our ecosystem. When an industry pioneer like Desay SV invests here, they come to stay.”

— Jorge Paradela Gutiérrez, Regional Minister of Industry, Energy and Mines of the Junta de Andalucía

Supporting European Automakers with Local Programs

Desay SV Spain S.L. has received formal project nominations from two international automotive manufacturers and is continuing commercial discussions with several other European automakers. These developments underscore the company’s growing engagement with the European automotive market and its commitment to building long-term customer relationships through local presence and support.

“We are proud to be part of Linares’ industrial revival and to contribute to a new chapter in the city’s development. The support and collaboration of the local, regional and national authorities have been instrumental in bringing this project to life. Building on this strong foundation, we look forward to creating new opportunities for local talent, strengthening the regional automotive ecosystem and growing together with the community for years to come.”

 — Ling Jianhui, Executive Vice President and Chief Operating Officer of Desay SV

“The inauguration of our Linares facility represents another important step in putting our ‘In Europe, with Europe, for All’ commitment into practice. By combining Desay SV’s technological expertise with Spain’s strong automotive industrial base, we are establishing a resilient local manufacturing hub that enables us to build closer relationships with European partners and provide faster, more flexible, and tailored services to meet their evolving mobility needs.”

—Yang Yong, Executive Vice President of Desay SV and General Manager of Desay SV Europe

A Growing International Business

Desay SV continues to expand its international business. In the first nine months of 2026, the company recorded revenue of approximately RMB 24.4 billion, representing year-on-year growth of 9.3%. International sales reached approximately RMB 1.6 billion in the first half of 2026, up 55.7% year on year. The company’s European headquarters is located in Weimar, Germany, and its European operations extend across Germany, France, Spain, Sweden, and the Czech Republic. Through this regional network and its Linares manufacturing base, Desay SV aims to respond more effectively to customer requirements and support the transformation of the European automotive industry.

Creating Opportunities for Local Talent

The Linares project is expected to create up to 500 direct jobs by 2030 across manufacturing, engineering, quality, logistics, and management. Desay SV also plans to work with local educational institutions, including the University of Jaén and I.E.S. Himilce, to support talent development and build pathways between education and the automotive industry.

About Desay SV

Desay SV is a mobility technology company with operations spanning 26 locations worldwide. With 40 years of experience, the company focuses on Intelligent Cabin, Intelligent Driving, and Connected Services, supported by capabilities in research and development, design, quality management, and intelligent manufacturing. Its global automotive customers include Chery, Geely, Li Auto, Renault, SAIC, Stellantis, Toyota, Volkswagen, and Volvo. Desay SV ranked 54th in the Automotive News 2026 Top 100 Global Automotive Suppliers. Learn more at www.desaysv.com. 

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AtkinsRéalis and Türkiye Advance Canada’s Global Nuclear Ambitions Through Stronger Nuclear Technology Cooperation

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Memorandum Of Agreement (MOA) supports Government of Canada’s ambition to expand the global reach of its CANDU® nuclear technology, while supporting Türkiye’s economic and energy goalsFeasibility study will evaluate technical, environmental, infrastructure and economic considerations associated with future nuclear development in TürkiyeProgram establishes a pathway from feasibility through to Front-End Engineering Design (FEED) activities to support future investment decisions

MONTREAL, Nov. 12, 2026 /CNW/ — AtkinsRéalis Group Inc. (TSX: ATRL), a world-class engineering services and nuclear company with offices around the world, today announced that its subsidiary Candu Energy Inc. has taken an important step forward in advancing Canada’s international nuclear ambitions with the signing of a Memorandum of Agreement (MOA) with state-owned Türkiye Nükleer Enerji Anonim Şirketi (TÜNAŞ) at COP31 in Antalya, Türkiye.

“This milestone reflects the federal government’s ambitions to strengthen international partnerships and the global reach of Canadian nuclear expertise, with CANDU nuclear technology at the centre of that strategy,” said Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. “We are partnering with Türkiye to support its efforts to achieve its climate commitments and economic and energy security goals with low-carbon, baseload power, while expanding opportunities for Canada’s nuclear sector.”

AtkinsRéalis will undertake a comprehensive feasibility study and Front-End Engineering Design (FEED) for the expansion of Türkiye’s nuclear program. For a potential multi-unit deployment, the study will evaluate the site’s characteristics, infrastructure requirements, environmental considerations and broader project development needs. It will also examine how a future nuclear program could be delivered in Türkiye, including opportunities to develop local supply chains, strengthen domestic nuclear expertise and maximize long-term economic value. The study is expected to be completed before the end of 2027. It will support future planning activities and investment decisions associated with nuclear development opportunities at the site.

Released earlier this year, Canada’s Nuclear Energy Strategy identified international partnerships, exports and market diversification as key priorities for strengthening Canada’s position as a global nuclear leader. The Government of Canada has committed to working with provincial, utility and industry partners to maintain the commercial viability and competitiveness of CANDU technology. Agreements such as this put that commitment into action, with government and industry working together to expand international opportunities for CANDU and bring Canadian nuclear technology and expertise to global markets.

“Countries are looking for reliable ways to strengthen energy security, resilience and meet rising electricity demand, and there is broad consensus that nuclear is an essential part of the solution,” said Joe St. Julian, President, Nuclear, AtkinsRéalis. “From Canada and the United States to Central Europe and the ASEAN region, governments are looking for proven technologies and experienced partners that can help turn nuclear ambitions into reality. Türkiye is an important part of that growth story for AtkinsRéalis.”

Developed in Canada, CANDU is a heavy-water reactor technology with some of the highest capacity factors of all reactors in the world. It is built for today’s world, offering a combination of energy security, fuel flexibility, strong local supply chain opportunities and reliable, large-scale, low-carbon power. These attributes resonate with countries around the world as they seek to build resilient energy systems in a changing geopolitical environment. There are currently 34 CANDU nuclear reactors built on four continents.

About AtkinsRéalis   

Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world’s infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital advisory services. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services and Nuclear, as steward of CANDU® nuclear technology. News and information are available at www.atkinsrealis.com or follow us on LinkedIn. 

About AtkinsRéalis’ Nuclear Business 

AtkinsRéalis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRéalis is the steward of CANDU® nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRéalis solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management. AtkinsRéalis operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. AtkinsRéalis’ CANDU technology also allows for the co-production of medical radioisotopes for cancer detection and treatment. The company also supports cancer treatment through its partnership with TerraPower to extract isotopes from legacy nuclear material. Learn more on our Nuclear market page.  

Forward-Looking Statements

References in this press release to the “Company”, “AtkinsRéalis”, “we”, “us” and “our” mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company’s expectations or strategies constitute “forward-looking statements”, which can be identified by the use of the conditional or forward-looking terminology such as “aims”, “anticipates”, “assumes”, “believes”, “cost savings”, “estimates”, “expects”, “forecasts”, “goal”, “intends”, “likely”, “may”, “objective”, “outlook”, “plans”, “projects”, “should”, “synergies”, “target”, “vision”, “will” , or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions or results could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company’s current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company’s business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company’s 2025 annual management disclosure & analysis (“2025 MD&A”) (particularly in the sections entitled “Critical Accounting Judgments and Key Sources of Estimation Uncertainty” and “How We Analyze and Report our Results”) filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company’s website at www.atkinsrealis.com under the “Investors” section. If these assumptions are inaccurate, the Company’s actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company’s assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the 2025 MD&A (particularly in the section entitled “Risk and Uncertainties”), as may be updated from time to time in the Company’s interim quarterly MD&A, are not exhaustive. The forward-looking statements herein reflect the Company’s expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

SOURCE AtkinsRéalis

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