Technology

Corvex Reports Second Quarter 2026 Results and Provides Business Update

Published

3 hours ago

August 14, 2026

Contracted annualized recurring revenue on live compute is approximately $22 million as of August 14, 2026

ARLINGTON, Va., Aug. 14, 2026 /PRNewswire/ — Corvex, Inc. (Nasdaq: MOVE), an engineering-led AI computing platform specializing in GPU-accelerated infrastructure for AI workloads, today reported financial results for the second quarter ended June 30, 2026. The second quarter is the Company’s first full reporting period that includes the AI cloud computing business following the March 19, 2026 merger. Prior-year periods reflect only the legacy healthcare business and are therefore not directly comparable.

Second Quarter 2026 Financial Highlights:

Total revenue for the second quarter was $3.8 million. Revenue for the six months ended June 30, 2026 was $4.3 million.Deferred revenue, including current and non-current portions, was $3.7 million at June 30, 2026, compared with $12,000 at December 31, 2025, reflecting contracted AI compute capacity not yet recognized as revenue.Net loss attributable to common stockholders for the second quarter was $(12.8) million, or $(5.12) per share. Net loss attributable to common stockholders for the six months ended June 30, 2026 was $(17.8) million, or $(8.59) per share.Adjusted EBITDA, a non-GAAP financial measure, was $(3.2) million for the second quarter and $(4.8) million for the six months ended June 30, 2026. Adjusted EBITDA for AI Platform and services was $(2.3) million for the second quarter and $(2.4) million for the six-month period.Total stock-based compensation expense was $9.4 million in the second quarter, including $7.6 million recorded in general and administrative expense, primarily reflecting replacement equity awards issued in connection with the Merger.Cash and cash equivalents were $21.7 million at June 30, 2026. Cash used in operating activities for the three months ended June 30, 2026 $5.3 million, which included approximately $1.9 million of vendor payments associated with the wind-down of the pre-Merger business and approximately $1.6 million of nonrecurring accounting, legal and other costs associated with the Merger. It also included a $2.8 million deposit paid to a vendor for an intended capital investment, which was refunded to the Company in July 2026.On June 30, the Company also completed the transfer of its legacy healthcare assets to the lender in full satisfaction of the related Bridge Loan, extinguishing that obligation and recognizing a $2.5 million non-recurring, non-cash gain on disposal.

Business Highlights:

Contracted annualized revenue on live compute was approximately $22 million as of August 14, 2026. Corvex defines this operating metric as the annualized value of fixed contractual fees on capacity that has been delivered, accepted by the customer and is generating revenue as of the stated date. It excludes contracted capacity that is not yet live, is not a forecast and is not a GAAP financial measure.All AI Platform and services revenue today is generated under fixed-term contracts rather than spot pricing, meaning that customers reserve compute and storage capacity under those agreements and pay the contracted fee regardless of utilization.Corvex Token Factory version 1 is now live in closed alpha. The Company also completed planning for version 2 of its cloud management software during the second quarter and has moved into execution. The software is designed to improve automation, reliability and scalability as the platform grows. Corvex has additional Corvex Token Factory releases planned for the third and fourth quarters of 2026 as roadmap items move into production.Following quarter end, Corvex announced on August 4 that it had completed delivery of a multi-year agreement to provide clusters of GPUs to a leading AI company. The expansion was being funded through debt financing, customer prepayment and cash on hand.The Company strengthened its operating and financing leadership with the appointment of Chance Moreland as Chief Financial Officer in June and Michael Craig as Vice President of Architecture and Site Operations in July.Corvex also added Nicholas Donofrio and Patrick Fleury to its Board of Directors, expanding the Board’s public-company governance, technology, data center and infrastructure financing expertise.

“Q2 is our first full reporting period with the AI infrastructure business, and reported revenue reflects when contracted capacity becomes live and is accepted by customers,” said Jay Crystal, Co-Founder and Co-Chief Executive Officer of Corvex. “We recognized $3.8 million of revenue in the quarter, while contracted annualized recurring revenue on live compute is approximately $22 million as of today. We spent the quarter focused on the inputs that drive the next stage of growth: securing power, hardware, capital and creditworthy customers, and on bringing them together quickly while maintaining disciplined project-level underwriting. At the same time, Corvex Token Factory is now live in closed alpha, and we have strengthened our operating, financing and governance bench as we scale.”

Capital Structure Update
Following quarter end, Corvex materially simplified its capital structure. On July 1, 2026, stockholders approved proposals resulting in the full conversion of Series A Preferred Stock and Series C Preferred Stock to Common Stock and the partial conversion of Series D Preferred Stock to Common Stock. As of July 8, 2026, the Company had approximately 27.6 million shares of Common Stock outstanding and 28,930 shares of Series D Preferred Stock outstanding, convertible into approximately 28.9 million shares of Common Stock. Taken together, that represented approximately 56.6 million common shares on an as-converted basis with respect to the remaining Series D Preferred Stock. On July 10, 2026, Corvex filed a resale registration statement covering up to 53,390,008 shares held or issuable to existing holders. The registration statement is not a primary offering by Corvex, and the Company will not receive proceeds from those resales.

Second Quarter 2026 Financial Highlights

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Revenue

$ 3,801

$ 103

$ 4,312

$ 309

Operating expenses

19,017

3,363

24,375

8,807

Loss from operations

(15,216)

(3,260)

(20,063)

(8,498)

Other (expense) income, net

2,471

2,313

Loss before income tax expense

(12,745)

(3,225)

(17,750)

(8,403)

Income tax expense

(20)

—

(20)

—

Net loss

$ (12,765)

$ (3,225)

$ (17,770)

$ (8,403)

Cumulative dividends on Series A preferred stock

(59)

—

(155)

—

Net loss attributable to common stockholders

$ (12,824)

$ (3,225)

$ (17,925)

$ (8,403)

Net loss per share, basic and diluted

$ (5.12)

$ (3.05)

$ (8.59)

$ (8.29)

Weighted average shares used in computing net loss per share, basic and diluted

2,506,295

1,058,412

2,087,639

1,013,122

Investor Conference Call

Management will host a conference call and live audio webcast to discuss these results and provide a business update today at 4:30pm ET / 1:30pm PT. The live webcast of the earnings conference call can be accessed at the Corvex Investor Relations website at investors.corvex.ai. A replay of the webcast will be available at the same website. Investors and analysts with questions may contact Corvex Investor Relations at investor-relations@corvex.ai.

About Corvex

Corvex is an AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads. Corvex’s platform allows organizations to leverage the advantage of AI by providing secure, scalable, and cost-efficient computational resources. Corvex’s infrastructure leverages advanced GPU-accelerated compute clusters, high-throughput storage systems and layered architecture to provide enhanced security, consistent performance, and efficiency at scale. As previously announced on March 19, 2026, Corvex, Inc. (formerly known as Movano Inc.) acquired Corvex Legacy Holdings, Inc. (Corvex OpCo, formerly known as Corvex, Inc.) (such acquisition the “Merger”). Following the Merger, the Company was renamed Corvex, Inc., effective March 23, 2026.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of applicable securities laws. Such statements are based on our current expectations, forecasts and assumptions and involve risks and uncertainties. These statements include, but are not limited to, statements related to our business; our strategy; our capital structure; our future growth; our technology; financial projections; our projections for future active power; demand for our platform; our plans to scale our platform and accelerate AI innovation; and strategic opportunities. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” “outlook,” “guidance,” or the negative of these terms, where applicable, and similar expressions intended to identify forward-looking statements.

Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include but are not limited to our ability to execute our business strategies and manage our growth, our ability to maintain and grow our customer base, continued demand for AI infrastructure, any disruption in our strategic relationships or disruptions with our third-party providers, including our suppliers and data center partners, our ability to develop and maintain our corporate infrastructure and internal controls, our financial performance, capital requirements and ability to raise additional capital and the impact of global political and macroeconomic conditions, including the effects of global geopolitical conflicts, inflation, tariffs, interest rates, any instability in the global banking sector and foreign currency exchange rates. More information about factors that could affect our operating results is included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Report on Form 10-Q for the three and six months ended June 30, 2026, copies of which may be obtained by visiting our Investor Relations website at investors.corvex.ai or the SEC’s website at www.sec.gov. Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. We assume no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law. Our results for the three and six months ended June 30, 2026 are not necessarily indicative of our operating results for any future periods.

Non-GAAP Financial Measures

To supplement our consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States (“GAAP”), we use adjusted EBITDA to help us evaluate our business. We use this non-GAAP financial measure to make strategic decisions, establish business plans and forecasts, identify trends affecting our business, and evaluate operating performance. We believe that this non-GAAP financial measure may be helpful to investors because it allows for greater transparency into what measures we use in operating our business and measuring our performance and enables comparison of financial trends and results between periods where items may vary independent of business performance. This non-GAAP financial measure is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies.

Adjusted EBITDA is defined as net loss, excluding (i) depreciation and amortization, (ii) stock-based compensation, (iii) benefit from income taxes (iv) transaction costs related to the Merger, (v) gain on disposal of assets and

(vi) interest and other income, net. A reconciliation is provided below to reconcile adjusted EBITDA to net loss, the most directly comparable financial measure stated in accordance with GAAP. Corvex encourages investors to review the related GAAP financial measure and the reconciliation of the non-GAAP financial measure to their most directly comparable GAAP financial measure, and not to rely on any single financial measure to evaluate Corvex’s business.

Media Contact

Chris Donahoe, Stillpoint
corvex.media@stillpointglobaladvisors.com

CORVEX, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data) (unaudited)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

REVENUE:

Revenue – AI Platform and services

$ 3,801

$ —

$ 4,277

$ —

Revenue – Connected devices and services

—

103

309

Total revenue

3,801

103

4,312

309

OPERATING EXPENSES:

Cost of revenue – AI Platform and services (exclusive of depreciation and amortization)(1)

2,108

—

2,356

—

Cost of revenue – Connected devices and services (exclusive of depreciation and amortization)(2)

362

275

1,004

Depreciation and amortization

2,676

—

3,003

—

Technology and infrastructure(3)

1,366

1,401

2,188

3,784

Sales and marketing(4)

740

—

1,041

—

General and administrative(5)

12,117

1,600

15,512

4,019

Total operating expenses

19,017

3,363

24,375

8,807

Loss from operations

(15,216)

(3,260)

(20,063)

(8,498)

Other (expense) income, net:

Interest expense (related party)

(31)

—

(208)

—

Interest expense

(135)

—

(148)

—

Other income, net

136

168

Gain on disposal of assets

2,501

—

2,501

—

Other (expense) income, net

2,471

2,313

Loss before income tax expense

(12,745)

(3,225)

(17,750)

(8,403)

Income tax expense

(20)

—

(20)

—

Net loss

$ (12,765)

$ (3,225)

$ (17,770)

$ (8,403)

Cumulative dividends on Series A preferred stock

(59)

—

(155)

—

Net loss attributable to common stockholders

$ (12,824)

$ (3,225)

$ (17,925)

$ (8,403)

Net loss per share, basic and diluted

$ (5.12)

$ (3.05)

$ (8.59)

$ (8.29)

Weighted average shares used in computing net loss per share, basic and diluted

2,506,295

1,058,412

2,087,639

1,013,122

Amounts include stock-based compensation expense, as follows:

(1)Cost of revenue – AI Platform and services (exclusive of depreciation and amortization)

$ 702

$ —

$ 795

$ —

(2)Cost of revenue – Connected devices and services (exclusive of depreciation and amortization)

—

(3)Technology and infrastructure

783

286

1,263

381

(4)Sales and marketing

302

—

342

—

(5)General and administrative

7,601

494

9,165

697

CORVEX, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data) (unaudited)

June 30, 2026

December 31, 2025

ASSETS

Current assets:

Cash and cash equivalents

$ 21,695

$ 2,827

Accounts receivable, net

1,564

—

Inventory

—

1,766

Prepaid expenses and other current assets

5,003

394

Total current assets

28,262

4,987

Property and equipment, net

31,373

101

Operating lease right-of-use assets, net

5,286

415

Intangible assets, net

15,047

—

Goodwill

519,318

—

Other assets

Total assets

599,323

5,600

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

Current liabilities:

Accounts payable

3,870

3,477

Accrued liabilities

3,499

665

Deferred revenue, current

1,810

Bridge loan (related party)

–

4,382

Operating lease liabilities, current

2,591

253

Finance lease liabilities, current

3,910

Total current liabilities

15,680

8,807

Operating lease liabilities, non-current

2,900

267

Finance lease liabilities, non-current

5,561

—

Deferred revenue, non-current

1,931

—

Total non-current liabilities

10,392

267

Total liabilities

26,072

9,074

Commitments and contingencies

Stockholders’ equity (deficit):

Preferred stock, $0.0001 par value, 5,000,000 shares authorized at June 30, 2026; 56,583
and 3,000 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively.

577,133

2,850

Common stock, $0.0001 par value, 500,000,000 shares authorized at June 30, 2026 and
December 31, 2025; 2,060,185 and 1,228,272 shares issued and outstanding at June 30, 2026
and December 31, 2025, respectively

–

Additional paid-in capital

180,280

160,058

Accumulated deficit

(184,162)

(166,392)

Total stockholders’ equity (deficit)

573,251

(3,474)

Total liabilities and stockholders’ equity

$ 599,323

$ 5,600

CORVEX, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands) (unaudited)

Six Months Ended June 30,

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$ (17,770)

$ (8,403)

Adjustments to reconcile net loss to net cash used in operating activities

Depreciation and amortization

3,813

Stock-based compensation

11,566

1,079

Amortization of debt discount (related party)

118

–

Noncash lease expense

1,303

Gain on disposal of assets

(2,501)

–

Changes in operating assets and liabilities, net of acquisition:

Accounts receivable

(221)

–

Inventory

(42)

(433)

Prepaid expenses and other current assets

(4,012)

144

Other assets

(10)

Accounts payable

(953)

775

Deferred revenue

(611)

(31)

Other current and noncurrent liabilities

–

(603)

Operating lease liabilities, net

(1,449)

–

Accrued liabilities

1,151

–

Net cash used in operating activities

(9,562)

(7,399)

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of property and equipment

(6,481)

–

Capitalized internal use software

(409)

–

Cash acquired in business combination

36,678

–

Net cash provided by investing activities

29,788

–

CASH FLOWS FROM FINANCING ACTIVITIES:

Payments on finance lease liabilities

(1,836)

–

Issuance of common stock, net of issuance costs

478

1,606

Net cash (used in) provided by financing activities

(1,358)

1,606

Net increase (decrease) in cash and cash equivalents

18,868

(5,793)

Cash and cash equivalents at beginning of period

2,827

7,902

Cash and cash equivalents at end of period

21,695

2,109

SUPPLEMENTAL CASH FLOW INFORMATION:

Cash paid for interest

$ 1

$ —

Cash paid for taxes

$ —

NONCASH INVESTING AND FINANCING ACTIVITIES:

Transaction expense adjustments

$ 207

$ —

Business acquired by issuance of equity instruments

$ 581,955

$ —

Bridge Loan (Related Party) extinguishment

$ 4,663

$ —

ROU assets obtained in exchange for lease liabilities

$ 1,948

$ —

Common shares issued from conversion of Series B Preferred shares

$ 2,576

$ —

Par value adjustment for stock splits and stock dividend

$ 10

$ —

Change in accrued capital expenditure

$ 133

$ —

Stock based compensation capitalized into internal use software

$ 303

$ —

Reconciliation of GAAP to Non-GAAP Results

Reconciliation of Net Loss to Adjusted EBITDA

(in thousands, except percentages)

Three Months Ended
June 30,

2026

2025

Net loss

(12,765)

(3,225)

Depreciation and amortization

2,676

—

Stock-based compensation(1)

9,388

780

Income tax

—

Gain on disposal of assets

(2,501)

—

Interest and other income, net

(35)

Adjusted EBITDA

(3,152)

(2,480)

Six Months Ended
June 30,

2026

2025

Net loss

(17,770)

(8,403)

Depreciation and amortization

3,003

—

Stock-based compensation(1)

11,566

1,079

Transaction costs(2)

719

—

Income tax

—

Gain on disposal of assets

(2,501)

—

Interest and other income, net

188

(95)

Adjusted EBITDA

(4,775)

(7,419)

Three Months Ended June 30,

Change

2026

2025

Net loss

AI Platform and services

$ (13,918)

$ —

$ (13,918)

Connected devices and services

1,153

(3,225)

4,378

136 %

Total net loss

$ (12,765)

$ (3,225)

$ (9,540)

(296) %

Adjusted EBITDA(1)

AI Platform and services

(2,264)

—

(2,264)

Connected devices and services

(888)

(2,480)

1,592

64 %

Total adjusted EBITDA

$ (3,152)

$ (2,480)

$ (672)

(27) %

Six Months Ended June 30,

Change

2026

2025

Net loss

AI Platform and services

$ (15,542)

$ —

$ (15,542)

Connected devices and services

(2,228)

(8,403)

6,175

73 %

Total net loss

$ (17,770)

$ (8,403)

$ (9,367)

(111) %

Adjusted EBITDA(1)

AI Platform and services

(2,373)

—

(2,373)

Connected devices and services

(2,402)

(7,419)

5,017

68 %

Total adjusted EBITDA

$ (4,775)

$ (7,419)

$ 2,644

36 %

(1) See the “Non-GAAP Financial Measures” section in this press release for a reconciliation to the most directly comparable GAAP measure.

Three Months Ended June 30,

AI Platform and services

2026

2025

Net loss

$ (13,918)

$ —

Depreciation and amortization

2,588

—

Stock-based compensation(1)

9,046

—

Income tax

—

Adjusted EBITDA

$ (2,264)

$ —

Six Months Ended June 30,

AI Platform and services

2026

2025

Net loss

$ (15,542)

$ —

Depreciation and amortization

2,884

—

Stock-based compensation(1)

10,278

—

Income tax

—

Interest and other income, net

(13)

—

Adjusted EBITDA

$ (2,373)

$ —

Three Months Ended June 30,

Connected devices and services

2026

2025

Net income (loss)

$ 1,153

$ (3,225)

Depreciation and amortization

—

Stock-based compensation(1)

342

780

Gain on disposal of assets

(2,501)

—

Interest and other income, net

(35)

Adjusted EBITDA

$ (888)

$ (2,480)

Six Months Ended June 30,

Connected devices and services

2026

2025

Net loss

$ (2,228)

$ (8,403)

Depreciation and amortization

119

—

Stock-based compensation(1)

1,288

1,079

Transaction costs(2)

719

—

Gain on disposal of assets

(2,501)

—

Interest and other income, net

201

(95)

Adjusted EBITDA

$ (2,402)

$ (7,419)

(1) Stock-based compensation: related to the 2019 and 2024 Incentive Plans for employees, contractors, or other entities.

(2) Related to the transaction costs associated with the Merger.

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SOURCE Corvex

Technology

CleanCore Solutions, Inc. Announces Planned Corporate Name Change to Zone Frontier Inc.

Published

3 hours ago

August 14, 2026

HOUSTON, Aug. 14, 2026 /PRNewswire/ — CleanCore Solutions, Inc. (NYSE American: ZONE) (the “Company”) today announced that it intends to change its corporate name from “CleanCore Solutions, Inc.” to “Zone Frontier Inc.” The Company has submitted a Certificate of Amendment to its Amended and Restated Articles of Incorporation for filing with the Nevada Secretary of State that specifies a delayed effective date, and the name change will become effective at 5:00 p.m. Pacific Time on August 31, 2026.

Upon effectiveness of the name change, the Company’s common stock will continue to trade on the NYSE American under the ticker symbol “ZONE.” The name change will not affect the rights of the Company’s stockholders. No action is required by existing stockholders, and all outstanding stock certificates and book-entry positions will remain valid.

“Our rebrand to Zone Frontier reflects the evolution of our business and strategic direction, as well as our commitment to developing next-generation data center campuses for the world’s leading AI and technology companies,” said Tyler Hassen, Chief Executive Officer of ZONE. “As we continue to execute on our growth initiatives, we believe the new name better represents who we are today and where we are headed.”

The Company intends to file a Current Report on Form 8-K with the U.S. Securities and Exchange Commission in connection with the name change upon the effectiveness of the Certificate of Amendment.

The Company’s new website is www.zonefrontier.com.

About CleanCore Solutions, Inc.

CleanCore Solutions, Inc. (NYSE American: ZONE) is helping to build the critical infrastructure that powers the AI economy. Through a growing pipeline of projects, the Company aims to help meet the increasing demand for compute capacity, power, and digital infrastructure required by the world’s leading AI companies. The Company expects to operate under the name Zone Frontier Inc. upon effectiveness of the name change.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements regarding the planned name change and the anticipated timing and effectiveness thereof, the Company’s expected continued listing and trading of its common stock on the NYSE American under the symbol “ZONE,” the Company’s business strategy and pipeline of projects, and the Company’s expected transition to an AI infrastructure business. Forward-looking statements are generally identified by words such as “anticipates,” “believes,” “expects,” “intends,” “plans,” “may,” “will,” “could,” “should,” “estimates,” “projects,” “potential,” “focused on,” “aims,” “expand,” “expected,” “look forward,” and similar expressions. These forward-looking statements are based on management’s current expectations and assumptions as of the date of this press release and are subject to significant risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to: the risk that the name change does not become effective on the specified delayed effective date, including as a result of the Certificate of Amendment being abandoned, withdrawn, amended, or otherwise not given effect by the Nevada Secretary of State; the risk that the Company’s new name or trading symbol is not processed or recognized by the NYSE American, the Financial Industry Regulatory Authority, or other market participants on the anticipated timeline; the highly speculative and uncertain nature of the Company’s AI critical infrastructure business; the Company’s continued ability to successfully transition its business model from cleaning services; the Company’s lack of operating history in the data center or computing infrastructure industry; the Company’s limited experience in the data center and AI infrastructure industries; the Company’s ability to obtain project-level debt financing on acceptable terms or at all; the status of the Company’s operations, results of operations, growth strategy and liquidity; and general economic, financial, capital market and industry conditions.

For a more complete discussion of risks and uncertainties, please refer to the Company’s filings with the SEC, including the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. All forward-looking statements are qualified in their entirety by this cautionary statement.

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SOURCE CleanCore Solutions (NYSE AMERICAN: ZONE)

Technology

FuelRod Brings Portable Power to the Players at the 2026 FedEx St. Jude Championship

Published

3 hours ago

August 14, 2026

Wireless MAX10 selected for player gifting at the PGA TOUR’s FedEx Cup Playoffs event in Memphis.

MEMPHIS, Tenn., Aug. 14, 2026 /PRNewswire/ — FuelRod, the company behind the Nationwide Swappable Power Network, today announced that its Wireless MAX10 portable power kits have been selected as player gifts at the 2026 PGA FedEx St. Jude Championship at TPC Southwind in Memphis.

The FedEx St. Jude Championship brings many of the world’s top professional golfers to Memphis for the opening event of the PGA TOUR’s FedEx Cup Playoffs. For players who spend much of the year traveling from city to city, reliable portable power has become an essential part of staying connected on the road, and FuelRod built its Nationwide Swappable Power Network around that same need.

“Golf and travel go hand in hand, which makes the FedEx St. Jude Championship a natural fit for FuelRod,” said Joe Yeagley, Co-Founder and Chief Operating Officer of FuelRod. “FuelRod was founded on the idea that people shouldn’t have to worry about staying powered while on the move, and we’re excited to put MAX10 into the hands of players who spend so much of their lives traveling and introduce them to portable power designed to travel with them.”

FuelRod currently serves travelers and guests at more than 50 major U.S. airports, including Memphis International Airport, as well as major theme parks across the United States and other high-traffic destinations—providing convenient access to portable power at many of the places people travel and play.

The Wireless MAX10 extends that experience with 10,000mAh of portable power, wireless charging and dual USB-C ports in a compact design built for life on the go. Players receiving MAX10 during tournament week can take that power with them well beyond Memphis as they continue traveling throughout the season.

“I’ve experienced firsthand the convenience FuelRod provides, particularly while traveling,” said Jack Sammons, General Chairman of the FedEx St. Jude Championship. “Professional golfers spend a significant amount of time on the road, and we believe FuelRod will be a practical and valuable addition to this year’s player gifts—something they can continue to use throughout the season.”

The FedEx St. Jude Championship also represents something much larger than golf, bringing the sport’s top players to Memphis while supporting the lifesaving mission of St. Jude Children’s Research Hospital.

FuelRod continues to expand its Nationwide Swappable Power Network across major U.S. airports, theme parks, hotels, healthcare facilities, convention centers, entertainment venues and other high-traffic destinations, creating more places for customers to buy, swap and stay powered while on the go.

For more information about FuelRod or to find a FuelRod location, visit FuelRod.com.

About FuelRod

FuelRod is the company behind the Nationwide Swappable Power Network, providing consumers with convenient access to portable power through self-service kiosks across North America. It’s Swap & Go program allows customers to purchase or exchange FuelRods at participating locations, making it easy to stay powered while on the go.

About the FedEx St. Jude Championship

The FedEx St. Jude Championship is the opening event of the PGA TOUR’s FedEx Cup Playoffs and is played at TPC Southwind in Memphis, Tennessee. The tournament brings together the world’s leading professional golfers while supporting the lifesaving mission of St. Jude Children’s Research Hospital.

Media Contact:

Claudio Frescas

claudio@fuel-rod.com

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SOURCE FuelRod

Technology

Real and RE/MAX Holdings Securityholders Approve Proposed Combination

Published

3 hours ago

August 14, 2026

Securityholder approval moves Real and RE/MAX Holdings closer to creating Real REMAX Group, a leading technology-enabled global real estate platform built on decades of trust and innovation

MIAMI and DENVER, Aug. 14, 2026 /PRNewswire/ — The Real Brokerage Inc. (NASDAQ: REAX) (“Real”), a leading technology-powered real estate brokerage, and RE/MAX Holdings, Inc. (NYSE: RMAX) (“RE/MAX Holdings”), the parent company of RE/MAX, LLC (“REMAX”), one of the world’s leading franchisors of real estate brokerage services, announced that securityholders of both companies approved Real’s proposed acquisition of RE/MAX Holdings at their respective special meetings of securityholders held today.

Upon closing, the combined company will operate as Real REMAX Group, a holding company that brings together Real’s technology-powered brokerage platform and entrepreneurial community with REMAX’s iconic global brand and franchise network.

“We’re grateful for the strong support from securityholders of both companies, and appreciate the confidence this signals in our vision for a more connected, innovative real estate ecosystem,” said Tamir Poleg, Chairman and Chief Executive Officer of Real. “Together, through Real REMAX Group, we’ll have the scale, talent and resources to invest more, build faster and create even greater value for the more than 180,000 real estate professionals who choose our brands, and for the clients they serve.”

Erik Carlson, Chief Executive Officer of RE/MAX Holdings, added, “Today’s vote is an important milestone for REMAX franchise owners and the broader REMAX network. This combination provides the opportunity to strengthen the value for Broker/Owners and their agents while preserving the entrepreneurial culture, local leadership and trusted REMAX brand that have fueled success for more than 50 years.”

The special resolution approving the previously announced arrangement was approved by approximately (i) 99.0% of the votes cast by Real shareholders, and (ii) 98.9% of the votes cast by Real shareholders, optionholders and restricted share unit holders, voting together as a single class. Holders of approximately 78.8% of the voting power of RE/MAX Holdings common stock voted to approve the acquisition. Details of the votes will be available in Real’s Form 6-K and RE/MAX Holdings’ Form 8-K filings, each of which will be filed with the SEC, and Real’s report of voting results which will be filed on SEDAR+.

The transaction remains subject to the satisfaction of specified closing conditions, including obtaining the final order of the Supreme Court of British Columbia approving the arrangement aspects of the transaction. The parties expect the transaction to close shortly after satisfaction of all closing conditions, which is expected to take place in the next couple of weeks.

Upon closing, Real REMAX Group will support more than 180,000 real estate professionals across more than 120 countries and territories. With approximately $2.3 billion in pro forma 2025 revenue and $157 million in Adjusted EBITDA before synergies, the combined company will have the scale and financial strength to invest in technology, AI, education and innovation while continuing to support the distinct brands, business models and communities that have made Real and RE/MAX Holdings leaders in real estate.

About Real
Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simpler. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 U.S. states and across Canada, Real supports over 36,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.

About RE/MAX Holdings, Inc.
RE/MAX Holdings, Inc. (NYSE: RMAX) is one of the world’s leading franchisors in the real estate industry, franchising real estate brokerages globally under the REMAX® brand, and mortgage brokerages within the U.S. under the Motto® Mortgage brand. REMAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Now with more than 145,000 agents in nearly 8,500 offices and a presence in more than 120 countries and territories, nobody in the world sells more real estate than REMAX, as measured by total residential transaction sides. Dedicated to innovation and change in the real estate industry, RE/MAX Holdings launched Motto Franchising, LLC, a ground-breaking mortgage brokerage franchisor, in 2016. Motto Mortgage, the first and only national mortgage brokerage franchise brand in the U.S., has offices across more than 40 states.

Forward-Looking Statements
This press release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable United States and Canadian securities laws, including Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements/forward-looking information include all statements that do not relate solely to historical or current facts, and can generally be identified by the use of words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “potential”, “project”, and similar expressions or future or conditional verbs such as “could”, “may”, “should”, “will” and “would”. Such forward-looking statements/forward-looking information include, but are not limited to, statements regarding the anticipated benefits of the proposed transaction; the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, including the expected leverage of the combined company and the amount and timing of synergies from the proposed transaction; the completion of the proposed transaction and the expected timeline; and the ability to satisfy all closing conditions, including the receipt of required approvals for the proposed transaction. These statements inherently involve numerous risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected in these statements, including statements about the consummation of the proposed transaction and the anticipated benefits thereof. Where, in any forward-looking statement, Real or RE/MAX Holdings express an expectation or belief as to future results or events, it is based on Real and/or RE/MAX Holdings’ current plans and expectations, expressed in good faith and believed to have a reasonable basis. However, neither Real nor RE/MAX Holdings can give any assurance that any such expectation or belief as to future results will be achieved or accomplished. Significant risk factors that may cause such a difference include, but are not limited to, Real’s and RE/MAX Holdings’ ability to consummate the proposed transaction on the expected timeline or at all; Real’s and RE/MAX Holdings’ ability to obtain the remaining necessary regulatory approvals, including the final order of the Supreme Court of British Columbia, in a timely manner and the risk that such approvals are not obtained or are obtained subject to conditions that are not anticipated; the risk that a condition of closing of the proposed transaction may not be satisfied or that the closing of the proposed transaction may not otherwise occur; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement, including in circumstances requiring Real or RE/MAX Holdings to pay a termination fee; the diversion of management time on transaction-related issues; risks related to disruption from the proposed transaction, including disruption of management time from current plans and ongoing business operations due to the proposed transaction and integration matters; the risk that the proposed transaction and its announcement could have an adverse effect on Real’s and RE/MAX Holdings’ ability to retain agents, franchisees and personnel or that there could be potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; unexpected costs, charges or expenses resulting from the proposed transaction; potential litigation relating to the proposed transaction that could be instituted against the parties to the merger agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto; the ability of the combined company to achieve the synergies and other anticipated benefits expected from the proposed transaction or such synergies and other anticipated benefits taking longer to realize than anticipated; the ability of the combined company to achieve the expected leverage or such leverage taking longer to realize than anticipated; Real’s ability to integrate RE/MAX Holdings promptly and effectively; anticipated tax treatment, unforeseen liabilities, future capital expenditures, economic performance, future prospects and business and management strategies for the management, expansion and growth of the combined company’s operations; certain restrictions during the pendency of the proposed transaction that may impact Real’s or RE/MAX Holdings’ ability to pursue certain business opportunities or strategic transactions or otherwise operate their respective businesses; slowdowns in real estate markets, economic and industry downturns, Real’s ability to attract new agents and retain current agents, Real’s inability to successfully launch new products and features; Real’s inability to scale while improving operating leverage, or inability to successfully execute its strategies, including its strategy related to HeyLeo; possible unfavorable results in legal proceedings; changes in laws, regulations or the regulatory environment affecting our business; disruption to our technology or cybersecurity incidents; and other risk factors detailed from time to time in Real’s and RE/MAX Holdings’ reports filed with the SEC, including Real’s annual report on Form 40-F, reports on Form 6-K and other documents filed with the SEC, and RE/MAX Holdings’ annual report on Form 10-K, quarterly reports on Form 10-Q, reports on Form 8-K and other documents filed with the SEC, copies of which are available at www.sec.gov, and Real’s reports filed with Canadian securities regulators, including Real’s audited annual financial statements and annual management’s discussion and analysis for the financial year ended December 31, 2025, Annual Information Form dated March 4, 2026 and quarterly financial statements and quarterly management’s discussion and analysis for the period ended June 30, 2026, copies of which are available under Real’s SEDAR+ profile at www.sedarplus.ca, as well as documents that have been or will be filed, as applicable, with the SEC and Canadian securities regulators in connection with the proposed transaction.

These risks, as well as other risks associated with the proposed transaction, are more fully discussed in the joint proxy statement/prospectus and management information circular of Real and RE/MAX Holdings dated July 9, 2026, as supplemented on August 6, 2026 (together the “Circular”) and registration statement on Form S-4 filed with the SEC on June 12, 2026, as amended on July 7, 2026 (File No. 333-296768) (the “Registration Statement”) that have been filed with the SEC and with the Canadian securities regulators, as applicable, in connection with the proposed transaction. While the list of factors presented here is, and the list of factors presented in the Circular and in the Registration Statement are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements/forward-looking information. You should not place undue reliance on any of these forward-looking statements/forward-looking information as they are not guarantees of future performance or outcomes; actual performance and outcomes, including, without limitation, Real’s or RE/MAX Holdings’ actual results of operations, financial condition and liquidity, and the development of new markets or market segments in which Real or RE/MAX Holdings operate, may differ materially from those made in or suggested by the forward-looking statements/forward-looking information contained in this press release. Neither Real nor RE/MAX Holdings assumes any obligation to publicly provide revisions or updates to any forward-looking statements/forward-looking information, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Neither future distribution of this press release nor the continued availability of this press release in archive form on Real’s or RE/MAX Holdings’ website should be deemed to constitute an update or re-affirmation of these statements as of any future date.

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SOURCE RE/MAX Holdings, Inc.