Technology

Cineverse Reports First Quarter Fiscal Year 2027 Results

Published

3 hours ago

August 13, 2026

First Quarter Revenue of $30.6 Million, a $19.5 Million or 175% Increase Over the Prior Year QuarterMore Than 60% of Total Revenues Were Technology RelatedAdjusted EBITDA of $0.5 Million, a $2.6 Million Increase Over the Prior Year QuarterCash Flow From Operations Increased $13 Million Over the Prior Year QuarterBuilding on $2.0 Million of Savings Achieved in Fiscal 2026, Company Reaffirms Its Fiscal 2027 Cost Savings Target of $8.0 Million, with More Than $3 Million Achieved to Date in Q2.Including the Company’s Synergy Program, Annual Target Upside is $13 million in Cost Reductions and Synergies.Most-Watched Streaming Quarter in Company History: 4.5 Billion Minutes Streamed, Up 33% Year-Over-Year.Company Reaffirms Full Year Fiscal 2027 Guidance of $115 to $120 Million in Revenues and $10 to $20 Million in Adjusted EBITDA

LOS ANGELES, Aug. 13, 2026 /PRNewswire/ — Cineverse Corp. (“Cineverse” or the “Company”) (NASDAQ: CNVS), a global streaming technology and entertainment company, today announced its financial results for its fiscal first quarter (“Q1 FY 2027”):

Q1 FY 2027 Highlights (all comparisons are to the prior year fiscal quarter ended June 30, 2025 (“Q1 FY 2026”):

Total quarterly revenue was $30.6 million versus $11.1 million in the prior-year period, a 175% increase, driven mainly by the addition of new revenue streams from our strategic technology acquisitions in the fourth quarter of the prior fiscal year.

In their first full quarter:Advertising Technology contributed $15.9 million of revenue, continuing its pre-Acquisition growth trajectory and exceeding fiscal 2026 fourth quarter revenue by $8.0 million.Media Services contributed $3.5 million in its first full quarter, while focusing on the development of an end-to-end customer base which utilizes Matchpoint Dispatch automation.During the first quarter, the Company successfully transitioned multiple customer labor-intensive manual asset delivery workflows into the automated workflows of Matchpoint. As a result, the Company realized an estimated time savings of approximately 40% relative to prior manual processes, improving operating efficiency and increasing capacity to support future growth.The Company’s traditional revenue streams otherwise were largely consistent with the prior year. Notably, this quarter had no wide film releases, in comparison to last year which had Terrifier 3, the best performing unrated film release of all time, still in its strong ancillary distribution market run.

As anticipated, direct operating margin declined from 57% in the prior year quarter to 35% this quarter, due to the evolution of the Company’s business, including:

Revenue share expenses within our Advertising Technology business, which are amounts owed to supplier partners for advertising inventory and related services. In the first quarter of fiscal 2027, revenue-share expense represented 79% of gross Advertising Technology revenue.The Media Services revenue stream, for which the Company has an ongoing transformation effort focused on streamlining workflows, increasing automation, and optimizing resource allocation.

SG&A expenses rose $2.7 million, or 30%, to $11.6 million, primarily due to higher compensation costs of $1.1 million, including $0.3 million of severance and $0.6 million of unpaid bonus accruals that the Company may settle in equity; $0.5 million of higher marketing costs tied to the committed theatrical release slate, and $0.4 million of increased professional consulting fees related to integration and year-end audit, tax and Sarbanes-Oxley compliance costs following the fourth quarter fiscal 2026 acquisitions.

Adjusted EBITDA was $0.5 million, an increase of $2.6 million over the prior year. Net loss attributable to common stockholders was $(5.8) million, or $(0.28) per basic and diluted share, compared with $(3.6) million, or $(0.21) per share, in the prior-year.

Financial Condition Overview:

Cash and cash equivalents totaled $4.3 million as of June 30, 2026 with $1.1 million available under the $12.5 million line of credit facility.As of June 30, 2026, working capital was $(18.9) million, compared with $(0.3) million at the prior year quarter end. This notably includes $18.0 Million of Deferred and Earnout Consideration from the IndiCue Inc. acquisition that the Company has the option to settle in stock.The Company’s digital content library, which includes more than 66,000 titles, has been valued at approximately $45 million, significantly above its $4.8 million book value as of June 30, 2026.

Operational Developments During the Quarter:

Substantially completed the core post-merger integration of Giant Worldwide and IndiCue, unifying systems, teams and workflows on the Cineverse platform as the Company shifts from integration to synergy capture and growth.Strengthened IndiCue’s commercial durability by nearly halving customer concentration since acquisition, while maintaining approximately 98% net revenue retention, with more than 40 live clients and 75 additional publishers onboarding.Began migrating Giant Worldwide’s media packaging and delivery operations to the Matchpoint platform, a transition expected to substantially expand Media Services gross margins as automation replaces manual workflows. The combined offering is already winning studio work orders that neither company could have secured independently.Began streamlining the Company’s product portfolio by integrating key standalone products into the Matchpoint platform. This simplifies the customer offering and is expected to substantially reduce engineering, sales and marketing costs, contributing approximately $2.7 million in annualized run-rate savings.Delivered the most-watched streaming quarter in Company history, with 4.5 billion minutes streamed, up 33% year over year; 122.8 million streaming viewers, up 12%; and 1.52 million SVOD subscribers, up 12%. Docurama surpassed 100,000 subscribers for the first time, while the flagship Cineverse channel and RetroCrush ended the quarter at all-time subscriber highs.Launched Gorilla Comedy+, a premium ad-free streaming service on Matchpoint, on May 5, featuring more than 250 comedy specials and backed by 800 Pound Gorilla’s network of more than 20 million monthly comedy fans. The Company also launched two Roku SVOD channels—the flagship Cineverse channel and So … Real—through Roku Premium Subscriptions.Set the fiscal-year theatrical and streaming slate, including the October 9 wide theatrical re-release of Guillermo del Toro’s Oscar-winning Pan’s Labyrinth in 4K and 3D with Fathom Entertainment following its Cannes Classics screening; production of the next Wolf Creek installment; the Hulu premiere of Return to Silent Hill, which debuted in the platform’s weekend Top 15; and the exclusive Screambox release of Silent Night, Deadly Night as part of the “Halfway to Halloween” slate.Announced Sean McCabe’s appointment as Chief Financial Officer, returning to the Company from ad-tech leader Freestar to strengthen the finance organization for the scale of the post-acquisition business.

Operational Developments Subsequent to Quarter-End:

Completed a reduction in force representing approximately $1.8 million in annualized savings and identified an additional $4.8 million in cost reductions and synergies, bringing the Company’s total identified program to $13 million in annualized cost reductions and synergies, with substantially all actions expected to be completed by the end of the fiscal second quarter.Launched VAUDIO, a proprietary ad-tech offering extending brands’ audio campaigns onto CTV, developed by the executive team that joined with the IndiCue acquisition on our expanded technology platform.Announced a partnership with PEDIGREE® and Air Bud Entertainment for a multi-city summer movie series across Los Angeles, Chicago, and Kansas City, featuring an exclusive first look at Air Bud Returns ahead of its January 2027 theatrical release.

Management Commentary

Chris McGurk, Cineverse Chairman and CEO, stated: “We registered another very strong quarter: Fueled by the acquisitions of Giant Worldwide and IndiCue, our total revenues increased by 175% and we increased Adjusted EBITDA by $2.6 million. This is impressive given that we had no new theatrical film releases during the quarter, and this is also one of our seasonally slowest quarters across all of our business lines. Importantly, technology now continues to be the most important source of revenue for the Company, representing over 60% of our combined revenues, with much of that revenue durable and recurring with long term customers.”

“Going forward, we expect to see more and more of the impact of our cost reduction and synergy program initiatives reflected in our financials as we fully complete the integration of our two key acquisitions, further rationalize the business to focus on our highest potential core products and services, and increase operating margins. We are well on our way to generating our target of $13 million in annual cost reductions and synergies, and much of that is expected to be fully recognized during our Fiscal 3rd and 4th quarters, which are also our strongest seasonal quarters across our business lines. In addition, we have three high potential wide release films in the lineup for those quarters as well. Our last five wide film releases starting with Terrifier 2 have generated high ROI and are strong additions to our library, which has been valued at approximately $45 million. It is also worth emphasizing that we improved operating cash flows by over $13 million and should require a far lower CAPEX to generate that cash going forward than in the past.”

“Given that, we reaffirm our full year Fiscal 2027 guidance of $115 to $120 million in total revenues and $10 to $20 million in Adjusted EBITDA.”

Erick Opeka, Cineverse President and Chief Strategy Officer, stated: “With the acquisitions of Giant Worldwide and IndiCue complete, this quarter was about one thing: integration and execution. The core integration of both companies is now substantially complete, and our focus has shifted to capturing synergies and driving growth. Q1 absorbed the full cost weight of both acquisitions, including integration, audit, and transition expenses, while we still improved Adjusted EBITDA by $2.6 million year over year, and delivered the most-watched streaming quarter in our history. That is the pattern we anticipate providing to investors from here: costs coming down while the revenue engines scale up.”

“We are executing against three value-capture priorities. First, we are streamlining our product portfolio by integrating key standalone products as features within Matchpoint, which simplifies our offering and substantially reduces engineering, sales, and marketing costs. Second, we are moving Giant’s packaging and delivery operations onto the Matchpoint platform, which we expect to meaningfully expand Media Services gross margins as automation replaces manual workflows. Third, we have expanded our identified cost reduction and synergy program to $13 million on an annualized basis, of which more than $8 million has been actioned to date, with substantially all remaining actions expected to be completed by the end of the second quarter. As these actions take hold, we believe our studio and streaming operations, inclusive of corporate overhead, are approaching run-rate profitability, and the full earnings power of the new Cineverse will become visible in our results through the balance of the fiscal year.”

Conference Call

Cineverse will host a conference call at 4:30 p.m. EST/1:30 p.m. PST (Thursday, August 13, 2026), during which management will discuss the results of its fiscal first quarter ended June 30, 2026. The conference call can be accessed by webcast at the Investors section of the Company’s website at https://events.q4inc.com/attendee/516480513. Those who are unable to attend the live conference call may access the recording at the above webcast link, which will be made available shortly after the conclusion of the call.

About Cineverse

Cineverse (Nasdaq: CNVS) is an entertainment technology company and studio. Fiercely innovative and independent, Cineverse develops and invests in technology and content that drives the future of the industry. Core to its business is Matchpoint® – a growing tech ecosystem designed to prepare, distribute, monetize, and continuously improve content across any platform. Matchpoint helps studios large and small operate at scale and improve performance and efficiency in an increasingly fragmented distribution environment. Additionally, Cineverse distributes a vast library of premium films, series, and podcasts, across theatrical, home entertainment, and streaming; operates dozens of digital properties that super serve passionate fandoms around the world; and works with leading brands to connect them with audiences they value. From award-winning technology to the highest-grossing unrated film in U.S. history, Cineverse has created a playbook that marries tech and content to redefine the next era of entertainment. For more information, visit cineverse.com.

Safe Harbor Statement

Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of Cineverse officials during presentations about Cineverse, along with Cineverse’s filings with the Securities and Exchange Commission, including Cineverse’s registration statements, quarterly reports on Form 10-Q and annual report on Form 10-K, are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as “expects,” “anticipates,” “intends,” “plans,” “could,” “might,” “believes,” “seeks,” “estimates” or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings, or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by Cineverse’s management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties, and assumptions about Cineverse, its technology, economic and market factors, and the industries in which Cineverse does business, among other things. These statements are not guarantees of future performance, and Cineverse undertakes no specific obligation or intention to update these statements after the date of this release.

For additional information, please contact:
Julie Milstead
424-281-5411
investorrelations@cineverse.com

CINEVERSE CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

As of

June 30,
2026

March 31,
2026

ASSETS

Current Assets

Cash and cash equivalents

4,319

3,387

Accounts receivable, net

43,057

38,604

Content advances

6,789

7,507

Other current assets

1,370

1,280

Total Current Assets

55,535

50,778

Property and equipment, net

4,160

3,906

Intangible assets, net

41,922

44,114

Goodwill

21,293

21,218

Content advances, net of current portion

8,542

8,215

Other long-term assets, net

3,712

2,050

Total Assets

135,164

130,281

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities

Accounts payable and accrued expenses

42,948

39,351

Line of credit, net

11,358

9,435

Deferred consideration

15,380

13,800

Current portion of earnout consideration

3,800

—

Current portion of operating lease liabilities

836

298

Deferred revenue

125

Total Current Liabilities

74,416

63,009

Operating lease liabilities, net of current portion

1,289

105

Convertible notes payable, net

12,583

12,545

Earnout consideration, net of current portion

6,800

11,250

Total Liabilities

95,088

86,909

Stockholders’ Equity

Preferred stock

3,245

3,559

Common stock

516

199

Additional paid-in capital

565,644

564,105

Treasury stock, at cost

(13,158)

Accumulated deficit

(515,870)

(510,099)

Accumulated other comprehensive loss

(301)

(282)

Total stockholders’ equity of Cineverse Corp.

40,076

44,324

Deficit attributable to noncontrolling interest

—

(952)

Total equity

40,076

43,372

Total Liabilities and Equity

135,164

130,281

CINEVERSE CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except for per share data)

(Unaudited)

Three Months Ended
June 30,

2026

2025

Revenues

30,595

11,119

Operating expenses

Direct operating

19,936

4,807

Selling, general and administrative

11,618

8,952

Change in fair value of acquisition-related deferred consideration

2,000

—

Change in fair value of acquisition-related earnout consideration

(650)

—

Depreciation and amortization

2,815

1,062

Total operating expenses

35,719

14,821

Operating loss

(5,124)

(3,702)

Interest (expense) income

(558)

278

Other income (expense), net

(78)

Net loss before income taxes

(5,671)

(3,502)

Income tax expense

(19)

(14)

Net income (loss)

(5,690)

(3,516)

Net loss attributable to noncontrolling interest

—

(44)

Net income (loss) attributable to controlling interests

(5,690)

(3,560)

Preferred stock dividends

(81)

(89)

Net income (loss) attributable to common stockholders

(5,771)

(3,649)

Net income (loss) per share attributable to common stockholders:

Basic

(0.28)

(0.21)

Diluted

(0.28)

(0.21)

Weighted average shares of common stock outstanding:

Basic

20,671

16,992

Diluted

20,671

16,992

Adjusted EBITDA

We define Adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, stock-based compensation expense, merger and acquisition costs, restructuring, transition and acquisitions expense, net, goodwill impairment and certain other items.

Adjusted EBITDA is not a measurement of financial performance under GAAP and may not be comparable to other similarly titled measures of other companies. We use Adjusted EBITDA as a financial metric to measure the financial performance of the business, because management believes it provides additional information with respect to the performance of its fundamental business activities. For this reason, we believe Adjusted EBITDA will also be useful to others, including our stockholders, as a valuable financial metric.

We present Adjusted EBITDA because we believe that Adjusted EBITDA is a useful supplement to net income (loss) from continuing operations as an indicator of operating performance. We also believe that Adjusted EBITDA is a financial measure that is useful both to management and investors when evaluating our performance and comparing our performance with that of our competitors. We also use Adjusted EBITDA for planning purposes, and to evaluate our financial performance because Adjusted EBITDA excludes certain incremental expenses or non-cash items, such as stock-based compensation charges, that we believe are not indicative of our ongoing operating performance.

We believe that Adjusted EBITDA is a performance measure and not a liquidity measure, and therefore a reconciliation between net income (loss) from operations and Adjusted EBITDA has been provided in the financial results. Adjusted EBITDA should not be considered as an alternative to net income (loss) from operations as an indicator of performance, or as an alternative to cash flows from operating activities as an indicator of cash flows, in each case as determined in accordance with GAAP, or as a measure of liquidity. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities as well as interest and income taxes that can affect cash flows. We do not intend the presentation of these non-GAAP measures to be considered in isolation or as a substitute for results prepared in accordance with GAAP. These non-GAAP measures should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Following is the reconciliation of our consolidated net income (loss) to Adjusted EBITDA (in thousands):

Three Months Ended
June 30,

2026

2025

Net (loss) income

(5,690)

(3,516)

Add Back:

Income tax (expense) benefit

(19)

Depreciation and amortization

2,859

1,147

Interest expense

558

(278)

Change in fair value of acquisition-related deferred consideration

2,000

—

Change in fair value of acquisition-related earnout consideration

(650)

—

Stock-based compensation

948

418

Other (income) expense, net

(11)

Net loss attributable to noncontrolling interest

—

(44)

Acquisition-related costs

—

Employee severance costs

385

Adjusted EBITDA

458

(2,134)

Note: Depreciation and amortization within the Adjusted EBITDA table above includes
$44 thousand of non-cash barter amortization included within Direct Operating costs.

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SOURCE Cineverse Corp.

Technology

SahajMobile Receives Bangladesh Bank No-Objection for Smartphone Access Pilot

Published

23 minutes ago

August 13, 2026

Six-month supervised initiative advances a transparent model designed to expand smartphone and responsible credit access in Bangladesh

LOS ANGELES, Aug. 13, 2026 /PRNewswire/ — SahajMobile BD Limited (“SahajMobile”), the Bangladesh operating company of Delaware holding company HR Consortium USA, Inc., today announced that Bangladesh Bank’s Payment Systems Department-1 issued a formal no-objection for a six-month supervised smartphone-access pilot.

The formal no-objection, dated Aug. 9, 2026, allows SahajMobile to conduct the defined pilot under Bangladesh Bank monitoring and specified operating conditions. The initiative is designed for low-income people who do not own smartphones, with underserved and rural areas prioritized within campaign locations approved by Bangladesh Bank.

A large digital market with a formal credit gap

Bangladesh has established significant digital reach and payment activity. The Bangladesh Telecommunication Regulatory Commission reported 113.5 million mobile-internet subscriptions in February 2026. Bangladesh Bank reported BDT 2.47 trillion in Mobile Financial Services transaction value in May 2026. At the same time, World Bank survey data for 2024 estimate that 38.2% of adults owned a personal smartphone and 13.1% borrowed from a formal source.

Together, these indicators frame the opportunity SahajMobile is pursuing: extend transparent, technology-enabled credit to people who need an essential device to participate more fully in the digital economy.

“Our aim is to expand responsible access to credit, starting with the smartphone because it connects customers to payments, work, education, information and formal financial services,” said Rafsun Faiz, CEO of HR Consortium USA, Inc. “The pilot gives us a clear framework to serve customers, measure repayment behavior, strengthen portfolio controls and report consistently to Bangladesh Bank.”

A U.S. holding company supporting local execution

HR Consortium USA, Inc. was incorporated in Delaware in 2024 and serves as the holding company for SahajMobile BD Limited. The structure combines U.S.-based corporate governance and long-term strategy with locally led underwriting, distribution, servicing, collections and regulatory reporting in Bangladesh.

SahajMobile’s strategy begins with a focused product: financing an essential smartphone through a transparent installment structure. Over time, the company intends to turn each successful customer relationship into a stronger repayment history, repeat financing opportunity and trusted point of access to future financial products. Any future payment or partner-distributed financial capability will depend on applicable approvals and licensed counterparties.

“We see a large and durable need for responsible small-ticket credit in Bangladesh,” said Abu Al Motalib, Director of SahajMobile BD Limited. “Our ambition is to build a trusted financial-access company that can scale with disciplined underwriting, strong servicing and clear regulatory engagement. The NOC gives us a measurable next step: execute the pilot well and build evidence for responsible growth.”

During the six-month pilot, SahajMobile will focus on customer affordability, accurate disclosures, servicing quality, repayment performance, portfolio monitoring and regulatory reporting. The formal no-objection applies to the defined pilot. It is not a permanent license, does not guarantee renewal or a future license, and may be amended or canceled by Bangladesh Bank.

About HR Consortium USA, Inc.

HR Consortium USA, Inc. is a Delaware holding company and the parent company of SahajMobile BD Limited. It provides strategic oversight and supports the technology, governance and long-term development of SahajMobile’s operations in Bangladesh.

About SahajMobile BD Limited

SahajMobile BD Limited is a Bangladesh-based smartphone-financing company focused on helping underserved consumers acquire devices through transparent installment programs. The company works through retail and device channels and uses technology-enabled customer onboarding, underwriting, servicing and portfolio management. Its ambition is to expand responsible credit access and deepen participation in Bangladesh’s digital economy.

Learn more at www.sahajmobile.org.

Media Contact

contact@sahajmobile.org

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SOURCE HR Consortium USA, Inc.

Technology

Introducing Lucid Gravity GT-S: A New Expression of Performance, Luxury and Versatility

Published

23 minutes ago

August 13, 2026

Inspired by Lucid Air Sapphire, Lucid Gravity GT-S combines extraordinary performance, distinctive craftsmanship, and uncompromising versatility

NEWARK, Calif., Aug. 13, 2026 /PRNewswire/ — Lucid Group, Inc. (NASDAQ: LCID), maker of the world’s most advanced software-defined vehicles and technologies, today announced the Lucid Gravity GT-S, a new performance-focused expression of the Lucid Gravity. Inspired by Lucid Air Sapphire, the new model brings greater power, dynamic capability and performance-focused design while preserving the exceptional space, comfort and versatility Lucid Gravity delivers to its customers.

With 1,070 horsepower, Lucid Gravity GT-S is America’s most powerful three-row SUV, sprinting from 0-60 mph in 3.1 seconds. Its standard Lucid’s Dynamic Handling Package enhances agility, stability, and ride comfort with independent rear-wheel steering and an adaptive three-chamber air suspension that lowers the vehicle at speed.

Lucid Gravity GT-S pairs supercar performance with seating for up to seven adults, generous cargo capacity, and an advanced technology platform that defines every Lucid vehicle. The result is a luxury SUV that combines extraordinary capability with the comfort and versatility customers use every day.

“With Lucid Gravity GT-S, we’ve created a more expressive and exhilarating interpretation of the Gravity SUV,” said Derek Jenkins, Chief Creative Officer at Lucid. “It combines extraordinary performance with the comfort, space, and versatility that define Gravity, delivering an exceptional experience for our customers that is uniquely Lucid.”

Lucid Gravity GT-S will make its global debut during Monterey Car Week, one of the world’s foremost celebrations of automotive design, luxury, and performance. Displayed alongside Lucid Air Sapphire in the Concours Village at Pebble Beach, Lucid Gravity GT-S demonstrates how Lucid continues to expand the boundaries of what a luxury electric vehicle can be.

Distinctive GT-S Design
Lucid Gravity GT-S introduces unique design elements, including blue exterior accents, painted blue brake calipers, and more. Inside, its Mojave PurLuxe Premium interior features blue stitching and piping across the first and second rows, blue seatbelts, blue stitching on the steering wheel, door armrests, and front center armrest. Additional interior details include blue seatbelts, a blue steering wheel marker and Lucid Bear logo embossing on the front seat headrests.

Full details about standard and optional features are available through the Design Yours Configurator.

Pricing and Availability
Lucid Gravity GT-S will be available exclusively in the United States and is priced from $125,900 USD, excluding tax, title, license, options, destination, and documentation fees. A Tahoe leather interior option is priced at $1,300, and destination and delivery is $1,850.

Orders open today.

About Lucid Group
Lucid Group, Inc. (NASDAQ: LCID) is a technology company creating exceptional mobility experiences through innovation to drive the world forward. Built on Lucid’s proprietary technology and software defined vehicle architectures, the company’s lineup of award-winning vehicles brings Lucid’s “Compromise Nothing™” approach to premium segments of the global automotive market. Lucid designs and engineers its products in-house and assembles at its vertically integrated facilities in Arizona and Saudi Arabia, enabling continuous innovation across vehicles, software, and advanced driver assistance and autonomy-ready capabilities.

Forward-Looking Statements
This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “shall,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, features, performance specifications and starting price of each of 2027 Lucid Gravity models, the features and the starting price of the packages, and Lucid’s strategy. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid’s management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the cautionary language and the Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Current Reports on Form 8-K, and other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid’s expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid’s assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Media Contact
media@lucidmotors.com

Trademarks
This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.

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SOURCE Lucid Motors

Technology

Entrepreneur Universe Bright Group Reports Second Quarter 2026 Financial Results

Published

1 hour ago

August 13, 2026

XI’AN, China, Aug. 13, 2026 /PRNewswire/ — Entrepreneur Universe Bright Group (“EUBG” or the “Company”), a Nevada corporation, reported its unaudited financial results for the period ended June 30, 2026.

Second Quarter 2026 Financial Highlights

Revenue: $746,113 for the three months ended June 30, 2026, compared to $1,143,106 during the same period of 2025.Net Loss: $34,495 for the three months ended June 30, 2026, compared to net income of $422,852 during the same period of 2025.Total Comprehensive Income: $23,552 for three months ended June 30, 2026, compared to $424,033 for the prior-year period.Cash Position: Cash and cash equivalents were approximately $10.67 million as of June 30, 2026.

Business Overview

EUBG provides digital marketing consultancy services through its wholly-owned PRC subsidiary. The Company focuses on delivering marketing consulting and related services to enterprises in China, supporting brand development and customer acquisition through online and integrated service solutions.

During the second quarter of 2026, the Company continued to optimize its service structure and develop selected business initiatives. The Company launched a new digital marketing service to prepare and publish digital marketing materials on behalf of clients across various digital platforms. In addition, Heng Ying International Investment Limited, the Company’s wholly-owned Hong Kong subsidiary, successfully completed the routine renewal of its Money Lenders License in June 2026 and has progressively commenced business operations.

Strategic Outlook

EUBG continues to focus on strengthening its consulting capabilities, improving operational efficiency, and enhancing long-term competitiveness.

The Company is also continuing to evaluate and develop strategic expansion opportunities, including selected fintech-related initiatives through its Hong Kong subsidiary, Heng Ying International Investment Limited.

In addition, on February 25, 2026, the Company effected a 1-for-10 reverse stock split, further aligning its capital structure with long-term strategic objectives.

Management Commentary

Mr. Guolin Tao, CEO of EUBG, stated:

“Our second quarter results reflected contracting demand in certain service lines, and ongoing strategic adjustments. At the same time, we continued to maintain a strong cash position while advancing new business initiatives.

Looking ahead, we will continue enhancing our consulting and digital marketing capabilities while prudently developing new business opportunities.”

About Entrepreneur Universe Bright Group

Entrepreneur Universe Bright Group is a Nevada holding company that conducts its operations through its wholly-owned subsidiaries in Hong Kong and mainland China. The Company primarily engages in consulting and marketing services in China with support from its Hong Kong subsidiaries.

For more information, please visit: www.eubggroup.com

Safe Harbor Statement

This press release contains projections and “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 related to the Company’s business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are not historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.

Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from those discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; future business development; financial condition and results of operations; product and service demand and acceptance; competition and pricing pressures; changes in technology; government regulations; fluctuations in economic and business conditions in China; and assumptions underlying or related to any of the foregoing and other risks contained in the Company’s filings with the SEC. Investors are cautioned not to place undue reliance on any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

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SOURCE Entrepreneur Universe Bright Group