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Cogeco announces Q4 2026 financial results

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Ongoing positive year-over-year revenue and adjusted EBITDA performance in Canada, along with a re-acceleration of Canadian Internet subscriber growthNew TV streaming solution launched for the U.S.Entering the third year of our transformation program, focused on revenue generation opportunities and cost efficienciesIntroducing fiscal 2027 financial guidelinesIncreasing quarterly dividend by 2% to $1.007 per share, representing our 23rd consecutive year of dividend growth

MONTREAL, Oct. 28, 2026 /CNW/ — Today, Cogeco Inc. (TSX: CGO) (“Cogeco” or the “Corporation”) announced its financial results for the fourth quarter ended August 31, 2026 and is issuing its fiscal 2027 financial guidelines.

“Our Canadian business continued to perform in the quarter, with a re-acceleration of our Internet subscriber growth and year-on-year adjusted EBITDA growth for a fourth consecutive quarter”, said Frédéric Perron, President and CEO. “We are particularly pleased with our wireless and oxio sales, and see promising growth potential in both areas”, continued Mr. Perron.

“In the U.S., we continue to operate in a challenging competitive environment, resulting in elevated customer losses in the quarter. To help offset these headwinds, we are focusing on several initiatives to improve our performance in the U.S., including wireless, our new welo digital brand, a new TV streaming product and new sales channels.

“At Cogeco Media, we are pleased with our strong radio audience engagement which reached 4.6 million listeners per week.

“Building on the good progress made in our transformation program, the third year will focus on revenue generation and cost efficiencies, supported by AI and digital initiatives.”

Consolidated financial highlights

Three months ended August 31

2026

2025

Change

Change in

constant
currency

(1)

(In thousands of Canadian dollars, except % and per share data) (unaudited)

$

$

%

%

Revenue

713,887

731,367

(2.4)

(3.3)

Adjusted EBITDA (1)

342,283

357,084

(4.1)

(5.0)

Profit for the period

81,508

76,197

7.0

Profit for the period attributable to owners of the Corporation

18,003

16,483

9.2

Adjusted profit attributable to owners of the Corporation (1)(2)

19,643

20,491

(4.1)

Cash flows from operating activities

361,300

266,738

35.5

Free cash flow (1)

98,397

101,596

(3.1)

(3.6)

Free cash flow, excluding network expansion projects (1)

125,228

159,414

(21.4)

(21.9)

Acquisition of property, plant and equipment

163,118

159,222

2.4

Net capital expenditures (1)(3)

162,930

155,871

4.5

3.5

Net capital expenditures, excluding network expansion projects (1)

136,099

98,053

38.8

37.3

Diluted earnings per share

1.87

1.71

9.4

Adjusted diluted earnings per share (1)(2)

2.04

2.12

(3.8)

Operating results

For the fourth quarter of fiscal 2026 ended on August 31, 2026:

Revenue decreased by 2.4% to $713.9 million. On a constant currency basis(1), revenue decreased by 3.3% due to a decline in the American telecommunications segment and in the media activities, offset in part by revenue growth in the Canadian telecommunications segment, as explained below:American telecommunications’ revenue decreased by 4.6%, or 6.6% in constant currency, mainly due to a lower subscriber base compared to the previous year, and to a higher proportion of customers subscribing to Internet-only services, as well as a competitive environment.Revenue in the media activities decreased by 18.9%, as the traditional radio advertising market remains challenging.Canadian telecommunications’ revenue increased by 0.6%, mainly resulting from the cumulative effect of high-speed Internet service additions over the past year, offset in part by a decline in video and wireline phone service subscribers, as an increasing proportion of customers subscribe to Internet-only services, as well as a competitive environment.Adjusted EBITDA decreased by 4.1% to $342.3 million. On a constant currency basis, adjusted EBITDA decreased by 5.0%, mainly due to lower revenue in the American telecommunications segment, offset in part by cost reduction initiatives and operating efficiencies across the Corporation as a result of its ongoing three-year transformation program.American telecommunications’ adjusted EBITDA decreased by 7.7%, or 9.6% in constant currency.Canadian telecommunications’ adjusted EBITDA increased by 3.3%(4), or 3.4%(4) in constant currency.Profit for the period amounted to $81.5 million, of which $18.0 million, or $1.87 per diluted share, was attributable to owners of the Corporation compared to $76.2 million, $16.5 million, and $1.71 per diluted share, respectively, in the comparable period of fiscal 2025. The increases in profit for the period and profit attributable to owners of the Corporation resulted mainly from lower depreciation and amortization expense, financial expense, and restructuring costs related to the Corporation’s transformation initiatives, partly offset by lower adjusted EBITDA, higher income tax expense, and non-cash pre-tax impairment charges of $5.2 million in connection with asset write-offs following a change in strategy.Excluding the non-cash impairment charges and certain other elements, adjusted profit attributable to owners of the Corporation(2) was $19.6 million, or $2.04 per diluted share(2), a decrease compared to $20.5 million, or $2.12 per diluted share, last year.Net capital expenditures were $162.9 million, an increase of 4.5% compared to $155.9 million in the same period of the prior year. In constant currency, net capital expenditures(1) were $161.3 million, an increase of 3.5% compared to last year, mainly due to higher capital spending related to customer premise equipment, partly offset by the timing of certain initiatives, both in the Canadian telecommunications segment, while net capital expenditures in the American telecommunications segment remained stable.Net capital expenditures in connection with network expansion projects were $26.8 million, or $26.7 million in constant currency(1), compared to $57.8 million in the same period of the prior year. Excluding network expansion projects, net capital expenditures were $136.1 million, an increase of 38.8% compared to $98.1 million in the same period of the prior year. In constant currency, net capital expenditures, excluding network expansion projects(1) were $134.6 million, an increase of 37.3% compared to last year.Acquisition of property, plant and equipment increased by 2.4% to $163.1 million, mainly resulting from higher capital spending.Free cash flow decreased by 3.1%, or 3.6% in constant currency, and amounted to $98.4 million, or $97.9 million in constant currency(1), mainly due to lower adjusted EBITDA, higher net capital expenditures, and higher current income taxes, partly offset by lower acquisition, integration, restructuring and other costs, mostly due to lower restructuring costs related to the Corporation’s transformation initiatives, lower financial expense, and higher proceeds from disposals of property, plant and equipment. Free cash flow, excluding network expansion projects, decreased by 21.4%, or 21.9% in constant currency, and amounted to $125.2 million, or $124.6 million in constant currency.Cash flows from operating activities increased by 35.5% to $361.3 million, mostly due to higher cash inflows from working capital, primarily due to the timing of payments made to suppliers and the collection of trade and other receivables.At its October 28, 2026 meeting, the Board of Directors of Cogeco declared a quarterly dividend of $1.007 per share, an increase of 2.0% compared to $0.987 per share last year.

Fiscal 2027 financial guidelines

Cogeco is issuing its fiscal 2027 financial guidelines, as presented below. As we enter the third year of our transformation program, we will focus on revenue generation and cost efficiencies, supported by AI and digital initiatives.

On a constant currency basis, the Corporation expects fiscal 2027 revenue to decrease by a low to mid single digit percentage, reflecting a combination of growth in the Canadian customer base, offset by pricing pressures and subscriber losses in the U.S. due to a highly competitive and promotional market. On a constant currency basis, fiscal 2027 adjusted EBITDA is expected to decrease by a mid to high single digit percentage, due to lower revenue, partly offset by transformation-driven cost efficiencies.

We expect a lower level of capital expenditures than the previous year, ranging from $430 to $480 million. The reduction results from operational efficiencies and the near completion of many network expansion and upgrade projects.

On a constant currency basis, free cash flow is expected to be between $505 and $555 million, due to lower adjusted EBITDA, higher financial expense and current income tax, partly offset by lower net capital expenditures.

The following table outlines the Corporation’s fiscal 2027 financial guidelines ranges compared to fiscal 2026 actual results, on a constant currency and consolidated basis:

October 28, 2026

Fiscal 2027

financial guidelines

(constant currency)

(i)

Fiscal 2026 actual

(In millions of Canadian dollars, except %)

$

$

Revenue

Low to mid single digit % decline

(ii)

2,887

Adjusted EBITDA

Mid to high single digit % decline

(ii)

1,398

Net capital expenditures

$430 to $480

564

Free cash flow

$505 to $555

(iii)

553

(i) 

Financial guidelines are presented on a constant currency basis and are obtained by translating expected financial results denominated in US dollars at the foreign exchange rates of the prior fiscal year. Fiscal 2027 financial guidelines are based on a USD/CAD constant exchange rate of 1.3865 USD/CAD.

(ii)

Compared to fiscal 2026.

(iii)

On a constant currency basis, current income tax expense is assumed to range from $30 to $60 million, while financial expense is assumed to range from $250 to $300 million.

These financial guidelines, including the various assumptions underlying them, contain forward-looking statements concerning the business outlook for Cogeco, and should be read in conjunction with the “Forward-looking statements” section of this press release.

The Corporation presents its fiscal 2027 financial guidelines on a constant currency basis and believes this presentation enables an improved understanding of the Corporation’s underlying financial performance, undistorted by the effects of changes in foreign currency rates. Measures on a constant currency basis are considered non-IFRS Accounting Standards measures and ratios, and do not have any standardized meaning prescribed by IFRS Accounting Standards and therefore, may not be comparable to similar measures presented by other companies. The financial guidelines exclude the impact from possible business acquisitions and/or disposals, and do not take into consideration unusual adjustments that could result from regulatory environment changes (including changes to Internet wholesale rates), and/or unforeseeable legal matters or non-recurring items. Financial expense assumptions do not take into consideration any potential impact of gains/losses on debt modification and/or extinguishment, including on repurchase of debt, if any, as those would be excluded from our free cash flow definition.

(1)

Adjusted EBITDA and net capital expenditures are total of segments measures. Constant currency basis, adjusted profit attributable to owners of the Corporation, net capital expenditures, excluding network expansion projects, free cash flow and free cash flow, excluding network expansion projects are non-IFRS Accounting Standards measures. Change in constant currency and adjusted diluted earnings per share are non-IFRS Accounting Standards ratios. These indicated terms do not have standardized definitions prescribed by IFRS® Accounting Standards, as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and therefore, may not be comparable to similar measures presented by other companies. For more information on these financial measures, please consult the “Non-IFRS Accounting Standards and other financial measures” section of this press release.

(2)

Excludes the impact of non-cash impairment charges, acquisition, integration, restructuring and other costs, and gains/losses on debt modification and/or extinguishment, which include gains/losses on repurchase of debt (all net of tax and non-controlling interest).

(3)

Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance.

(4)

Following a full-scale launch of its Canadian wireless service offering across the majority of its operating footprint in Québec and Ontario during the first quarter of fiscal 2026, the Corporation changed the presentation of its reportable segments by including the Canadian wireless operations within its Canadian telecommunications segment. Cogeco Mobile’s operations were previously included within “Corporate and eliminations” during the start-up phase. Comparative figures were restated to conform to the current presentation.

Financial highlights

Three months and years ended August 31

2026

2025

Change

Change in

constant
currency

(1)

(2)

2026

2025

Change

Change in

constant
currency

(1)

(2)

(In thousands of Canadian dollars, except % and per share data)

$

$

%

%

$

$

%

%

Operations

Revenue

713,887

731,367

(2.4)

(3.3)

2,886,734

3,008,101

(4.0)

(3.7)

Adjusted EBITDA (2)

342,283

357,084

(4.1)

(5.0)

1,398,139

1,452,901

(3.8)

(3.5)

Acquisition, integration, restructuring and other costs (3)

5,158

17,298

(70.2)

15,456

25,290

(38.9)

Impairment of assets

5,196

(132)

—

2,254,622

2,433

—

Profit (loss) for the period

81,508

76,197

7.0

(1,500,962)

335,165

—

Profit (loss) for the period attributable to owners of the Corporation

18,003

16,483

9.2

(340,494)

84,968

—

Adjusted profit attributable to owners of the Corporation (2)(4)

19,643

20,491

(4.1)

98,956

91,187

8.5

Cash flow

Cash flows from operating activities

361,300

266,738

35.5

1,028,274

1,126,848

(8.7)

Free cash flow (2)

98,397

101,596

(3.1)

(3.6)

552,856

514,387

7.5

7.7

Free cash flow, excluding network expansion projects (2)

125,228

159,414

(21.4)

(21.9)

634,071

622,862

1.8

2.0

Acquisition of property, plant and equipment

163,118

159,222

2.4

566,305

599,294

(5.5)

Net capital expenditures (2)(5)

162,930

155,871

4.5

3.5

563,896

591,398

(4.7)

(4.3)

Net capital expenditures, excluding network expansion projects (2)

136,099

98,053

38.8

37.3

482,681

482,923

(0.1)

0.3

Per share data (6)

Earnings (loss) per share

Basic

1.90

1.74

9.2

(35.92)

8.94

—

Diluted (7)

1.87

1.71

9.4

(35.92)

8.81

—

Adjusted diluted (2)(4)(7)

2.04

2.12

(3.8)

10.26

9.46

8.5

Dividends per share

0.987

0.922

7.0

3.948

3.688

7.0

(1)

Key performance indicators presented on a constant currency basis are obtained by translating financial results from the current periods denominated in US dollars at the foreign exchange rates of the comparable periods of the prior year. For the three-month period and year ended August 31, 2025, the average foreign exchange rates used for translation were 1.3722 USD/CAD and 1.3962 USD/CAD, respectively.

(2)

Adjusted EBITDA and net capital expenditures are total of segments measures. Adjusted profit attributable to owners of the Corporation, free cash flow, free cash flow, excluding network expansion projects and net capital expenditures, excluding network expansion projects are non-IFRS Accounting Standards measures. Change in constant currency and adjusted diluted earnings per share are non-IFRS Accounting Standards ratios. These indicated terms do not have standardized definitions prescribed by IFRS Accounting Standards and therefore, may not be comparable to similar measures presented by other companies. For more information on these financial measures, please consult the “Non-IFRS Accounting Standards and other financial measures” section of this press release.

(3)

For the three-month periods and years ended August 31, 2026 and 2025, acquisition, integration, restructuring and other costs were mainly related to additional restructuring costs incurred in connection with the Corporation’s transformation initiatives, and costs associated with the configuration and customization related to cloud computing and other arrangements. In addition, for the year ended August 31, 2025, these costs were partly offset by a $13.8 million non-cash gain recognized during the first quarter of fiscal 2025 in connection with a sale and leaseback transaction.

(4)

Excludes the impact of non-cash impairment charges, acquisition, integration, restructuring and other costs, and gains/losses on debt modification and/or extinguishment, which include gains/losses on repurchase of debt (all net of tax and non-controlling interest).

(5)

Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance.

(6)

Per multiple and subordinate voting share.

(7)

For the year ended August 31, 2026, the weighted average number of diluted multiple and subordinate voting shares used for the calculation of the adjusted diluted earnings per share included 168,561 share-based compensation units (comprising incentive share units and performance share units). As for the calculation of the diluted loss per share, these share-based compensation units were deemed to be anti-dilutive due to the loss incurred during the year and therefore were excluded from the calculation.

As at

August 31, 2026

August 31, 2025

(In thousands of Canadian dollars)

$

$

Financial condition

Cash

89,487

75,577

Total assets

7,590,766

9,786,463

Long-term debt

Current

67,851

45,543

Non-current

4,433,895

4,664,731

Net indebtedness (1)

4,448,081

4,685,722

Equity attributable to owners of the Corporation

491,649

862,951

(1)

Net indebtedness is a capital management measure. For more information on this financial measure, please consult the “Non-IFRS Accounting Standards and other financial measures” section of the Corporation’s MD&A for the year ended August 31, 2026, available on SEDAR+ at www.sedarplus.ca.

Forward-looking statements

Certain statements contained in this press release constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to Cogeco Inc.’s (“Cogeco” or the “Corporation”) future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as “may”; “will”; “should”; “expect”; “plan”; “anticipate”; “believe”; “intend”; “estimate”; “predict”; “potential”; “continue”; “foresee”; “ensure” or other similar expressions concerning matters that are not historical facts. Particularly, statements relating to the Corporation’s financial guidelines, future operating results and economic performance, objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, purchase price allocation, tax rates, weighted average cost of capital, performance and business prospects and opportunities, which Cogeco believes are reasonable as of the current date. Refer in particular to the “Corporate objectives and strategy” section of the Corporation’s fiscal 2026 annual Management’s Discussion and Analysis (“MD&A”), and the “Fiscal 2027 financial guidelines” presented in the current press release for a discussion of certain key economic, market and operational assumptions we have made in preparing forward-looking statements. While management considers these assumptions to be reasonable based on information currently available to the Corporation, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Cogeco currently expects. These factors include risks such as general market conditions, competitive risks (including changing competitive and technology ecosystems and disruptive competitive strategies adopted by our competitors), business risks, regulatory risks (including changes in laws or government policies and the impact of regulatory decisions, such as those of the Canadian Radio-television and Telecommunications Commission (“CRTC”) in Canada or of the Federal Communications Commission in the U.S.), tax risks, technology risks (including the evolution of technology, the rapid advancement of artificial intelligence technologies, and the threat of cybersecurity), financial risks (including the ability to execute debt refinancings, increasing interest rates and variations in currency), economic conditions (including inflation, trade tariffs, reduced consumer spending and increasing costs), talent management risks (including the highly competitive market for a limited pool of digitally skilled employees), human-caused and natural threats to the Corporation’s network (including increased frequency of extreme weather events, physical sabotage, and deliberate vandalism such as copper theft with the potential to disrupt operations), infrastructure and systems, sustainability and sustainability reporting risks, ethical behavior risks, ownership risks, litigation risks and public health and safety, many of which are beyond the Corporation’s control. Moreover, the Corporation’s radio operations are significantly exposed to advertising budgets from the retail industry, which can fluctuate due to increased competition and changing economic conditions. For more exhaustive information on these risks and uncertainties, the reader should refer to the “Uncertainties and main risk factors” section of the Corporation’s fiscal 2026 annual MD&A. These factors are not intended to represent a complete list of the factors that could affect Cogeco and future events and results may vary significantly from what management currently foresees. If the market value of our assets or if management’s estimates of forecasted results deteriorate, we may be required to recognize material non-cash charges relating to impairment of assets. The reader should not place undue importance on forward-looking information contained in this press release and the forward-looking statements contained in this press release represent Cogeco’s expectations as of the date of this press release (or as of the date they are otherwise stated to be made) and are subject to change after such date. While management may elect to do so, the Corporation is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except as required by law.

All amounts are stated in Canadian dollars unless otherwise indicated. This press release should be read in conjunction with the MD&A included in the Corporation’s fiscal 2026 Annual Report, the Corporation’s consolidated financial statements and the notes thereto prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) for the year ended August 31, 2026.

Non-IFRS Accounting Standards and other financial measures

This press release includes references to non-IFRS Accounting Standards and other financial measures used by Cogeco. These financial measures are reviewed in assessing the performance of Cogeco and used in the decision-making process with regard to its business units.

Reconciliations between non-IFRS Accounting Standards and other financial measures to the most directly comparable IFRS Accounting Standards measures are provided below. Certain additional disclosures for non-IFRS Accounting Standards and other financial measures used in this press release have been incorporated by reference and can be found in the “Non-IFRS Accounting Standards and other financial measures” section of the Corporation’s MD&A for the three-month period and year ended August 31, 2026, available on SEDAR+ at www.sedarplus.ca. The following non-IFRS Accounting Standards measures are used as a component of Cogeco’s non-IFRS Accounting Standards ratios.

Specified non-IFRS Accounting Standards measures

Used in the component of the following non-IFRS Accounting Standards ratios

Adjusted profit attributable to owners of the Corporation

Adjusted diluted earnings per share

Constant currency basis

Change in constant currency

For the three-month period and year ended August 31, 2026, the average foreign exchange rates used for translation were 1.4015 USD/CAD and 1.3865 USD/CAD, respectively. Financial measures presented on a constant currency basis for the three-month period and year ended August 31, 2026 are translated at the average foreign exchange rate of the comparable periods of the prior year, which were 1.3722 USD/CAD and 1.3962 USD/CAD, respectively.

Constant currency basis and foreign exchange impact reconciliation

Consolidated

Three months ended August 31

2026

2025

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

713,887

(6,728)

707,159

731,367

(2.4)

(3.3)

Operating expenses

371,604

(3,705)

367,899

374,283

(0.7)

(1.7)

Adjusted EBITDA

342,283

(3,023)

339,260

357,084

(4.1)

(5.0)

Free cash flow

98,397

(495)

97,902

101,596

(3.1)

(3.6)

Net capital expenditures

162,930

(1,616)

161,314

155,871

4.5

3.5

Years ended August 31

2026

2025

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

2,886,734

9,093

2,895,827

3,008,101

(4.0)

(3.7)

Operating expenses

1,488,595

5,004

1,493,599

1,555,200

(4.3)

(4.0)

Adjusted EBITDA

1,398,139

4,089

1,402,228

1,452,901

(3.8)

(3.5)

Free cash flow

552,856

1,074

553,930

514,387

7.5

7.7

Net capital expenditures

563,896

1,809

565,705

591,398

(4.7)

(4.3)

Canadian telecommunications segment

Three months ended August 31

2026

2025

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

(1)

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

375,045

—

375,045

372,931

0.6

0.6

Operating expenses

172,243

(274)

171,969

176,569

(2.5)

(2.6)

Adjusted EBITDA

202,802

274

203,076

196,362

3.3

3.4

Net capital expenditures

94,386

(284)

94,102

87,979

7.3

7.0

(1)

Effective as of the first quarter of fiscal 2026, the Canadian telecommunications segment includes the Canadian wireless operations, which were previously included within “Corporate and eliminations” during the start-up phase. Comparative figures were restated to conform to the current presentation, including $3.8 million of operating expenses for the fourth quarter of fiscal 2025, which were reclassified from “Corporate and eliminations” to the Canadian telecommunications segment.

Years ended August 31

2026

2025

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

(1)

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

1,502,128

—

1,502,128

1,495,308

0.5

0.5

Operating expenses

700,123

400

700,523

715,494

(2.1)

(2.1)

Adjusted EBITDA

802,005

(400)

801,605

779,814

2.8

2.8

Net capital expenditures

339,715

701

340,416

310,233

9.5

9.7

(1)

Effective as of the first quarter of fiscal 2026, the Canadian telecommunications segment includes the Canadian wireless operations, which were previously included within “Corporate and eliminations” during the start-up phase. Comparative figures were restated to conform to the current presentation, including $10.9 million of operating expenses for fiscal 2025, which were reclassified from “Corporate and eliminations” to the Canadian telecommunications segment.

American telecommunications segment

Three months ended August 31

2026

2025

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign 
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

320,445

(6,728)

313,717

335,762

(4.6)

(6.6)

Operating expenses

164,049

(3,427)

160,622

166,327

(1.4)

(3.4)

Adjusted EBITDA

156,396

(3,301)

153,095

169,435

(7.7)

(9.6)

Net capital expenditures

67,304

(1,332)

65,972

66,295

1.5

(0.5)

Years ended August 31

2026

2025

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Revenue

1,290,850

9,093

1,299,943

1,415,185

(8.8)

(8.1)

Operating expenses

652,860

4,606

657,466

711,775

(8.3)

(7.6)

Adjusted EBITDA

637,990

4,487

642,477

703,410

(9.3)

(8.7)

Net capital expenditures

221,569

1,108

222,677

278,036

(20.3)

(19.9)

Adjusted profit attributable to owners of the Corporation

Three months ended August 31

Years ended August 31

2026

2025

2026

2025

(In thousands of Canadian dollars)

$

$

$

$

Profit (loss) for the period attributable to owners of the Corporation

18,003

16,483

(340,494)

84,968

Acquisition, integration, restructuring and other costs

5,158

17,298

15,456

25,290

Impairment of assets

5,196

(132)

2,254,622

2,433

Gain on repurchase of debt (1)

(4,289)

—

(7,187)

—

Tax impact for the above items

(1,639)

(4,239)

(387,115)

(8,814)

Non-controlling interest impact for the above items

(2,786)

(8,919)

(1,436,326)

(12,690)

Adjusted profit attributable to owners of the Corporation

19,643

20,491

98,956

91,187

(1)

Included within financial expense.

Free cash flow and free cash flow, excluding network expansion projects reconciliations

Three months ended August 31

Years ended August 31

2026

2025

2026

2025

(In thousands of Canadian dollars)

$

$

$

$

Cash flows from operating activities

361,300

266,738

1,028,274

1,126,848

Changes in other non-cash operating activities

(98,739)

(8,190)

43,399

(1,640)

Income taxes paid

2,931

5,669

63,363

15,451

Current income taxes

(16,152)

(11,861)

(32,391)

(47,743)

Interest paid

74,128

77,297

259,286

277,573

Financial expense

(58,668)

(71,506)

(239,970)

(282,533)

Gain on repurchase of debt (1)

(4,289)

—

(7,187)

—

Amortization of deferred transaction costs and discounts on long-term debt (1)

2,728

2,614

10,820

9,117

Net capital expenditures (2)

(162,930)

(155,871)

(563,896)

(591,398)

Proceeds from disposals of property, plant and equipment, including sale and leaseback transactions

2,920

606

8,514

23,347

Repayment of lease liabilities

(4,832)

(3,900)

(17,356)

(14,635)

Free cash flow

98,397

101,596

552,856

514,387

Net capital expenditures in connection with network expansion projects

26,831

57,818

81,215

108,475

Free cash flow, excluding network expansion projects

125,228

159,414

634,071

622,862

(1)

Included within financial expense.

(2)

Net capital expenditures exclude non-cash acquisitions of right-of-use assets and the purchases, and related borrowing costs, of spectrum licences, and are presented net of government subsidies, including the utilization of those received in advance.

Adjusted EBITDA reconciliation

Three months ended August 31

Years ended August 31

2026

2025

2026

2025

(In thousands of Canadian dollars)

$

$

$

$

Profit (loss) for the period

81,508

76,197

(1,500,962)

335,165

Income taxes

30,764

17,274

(272,969)

87,545

Financial expense

58,668

71,506

239,970

282,533

Impairment of assets

5,196

(132)

2,254,622

2,433

Depreciation and amortization

160,989

174,941

662,022

719,935

Acquisition, integration, restructuring and other costs

5,158

17,298

15,456

25,290

Adjusted EBITDA

342,283

357,084

1,398,139

1,452,901

Net capital expenditures and net capital expenditures, excluding network expansion projects reconciliations

Three months ended August 31

2026

2025

Change

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

(In thousands of Canadian dollars, except percentages)

$

$

$

$

%

%

Acquisition of property, plant and equipment

163,118

159,222

2.4

Subsidies received in advance recognized as a reduction of the cost of property, plant and equipment during the period

(188)

(3,351)

(94.4)

Net capital expenditures

162,930

(1,616)

161,314

155,871

4.5

3.5

Net capital expenditures in connection with network expansion projects

26,831

(155)

26,676

57,818

(53.6)

(53.9)

Net capital expenditures, excluding network expansion projects

136,099

(1,461)

134,638

98,053

38.8

37.3

Years ended August 31

2026

2025

Change

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

(In thousands of Canadian dollars, except percentages)

$

$

$

$

%

%

Acquisition of property, plant and equipment

566,305

599,294

(5.5)

Subsidies received in advance recognized as a reduction of the cost of property, plant and equipment during the period

(2,409)

(7,896)

(69.5)

Net capital expenditures

563,896

1,809

565,705

591,398

(4.7)

(4.3)

Net capital expenditures in connection with network expansion projects

81,215

111

81,326

108,475

(25.1)

(25.0)

Net capital expenditures, excluding network expansion projects

482,681

1,698

484,379

482,923

(0.1)

0.3

Free cash flow, excluding network expansion projects reconciliations

Three months ended August 31

2026

2025

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Free cash flow

98,397

(495)

97,902

101,596

(3.1)

(3.6)

Net capital expenditures in connection with network expansion projects

26,831

(155)

26,676

57,818

(53.6)

(53.9)

Free cash flow, excluding network expansion projects

125,228

(650)

124,578

159,414

(21.4)

(21.9)

Years ended August 31

2026

2025

Change

(In thousands of Canadian dollars, except percentages)

Actual

Foreign
exchange
impact

In

constant
currency

Actual

Actual

In

constant
currency

$

$

$

$

%

%

Free cash flow

552,856

1,074

553,930

514,387

7.5

7.7

Net capital expenditures in connection with network expansion projects

81,215

111

81,326

108,475

(25.1)

(25.0)

Free cash flow, excluding network expansion projects

634,071

1,185

635,256

622,862

1.8

2.0

Additional information

Additional information relating to the Corporation, including its Annual Information Form, is available on SEDAR+ at www.sedarplus.ca and on the Corporation’s website at corpo.cogeco.com.

About Cogeco Inc.

Cogeco Inc. is a North American leader in the telecommunications and media sectors. Through Cogeco Communications Inc., we provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Through Cogeco Media, we operate 21 radio stations in Canada, primarily in the province of Québec, as well as a news agency. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future. Both Cogeco Inc.’s and Cogeco Communications Inc.’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CGO and CCA).

For information:
Investors
Troy Crandall
Head, Investor Relations
Cogeco Inc.
Tel.: 514 764-4600
troy.crandall@cogeco.com 

Media
Isabelle Famery
Manager, External Communications
Cogeco Inc.
Tel.: 514 764-4600
media@cogeco.com 

Conference Call:  

Thursday, October 29, 2026 at 8:00 a.m. (Eastern Daylight Time)

A live audio webcast of the analyst call will be available on both the Investor Relations and the Events and Presentations pages of Cogeco’s website. Financial analysts will be able to access the live conference call and ask questions. Media representatives may attend as listeners only. A recording of the conference call will be available on Cogeco’s website for a three-month period.

Please use the following dial-in number to access the conference call 5 to 10 minutes before the start of the conference:

Local – Toronto: 1 289-514-5100

Toll Free – North America: 1 800-717-1738

To join this conference call, participants are required to provide the operator with the name of the company hosting the call, that is, Cogeco Inc. or Cogeco Communications Inc.

SOURCE Cogeco Inc.

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Cooper Standard Adopts Tax Benefits Preservation Plan to Protect its Tax Benefits and Shareholder Value

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NORTHVILLE, Mich., Nov. 2, 2026 /PRNewswire/ — Cooper-Standard Holdings Inc. (“Cooper Standard” or the “Company”) (NYSE: CPS) today announced that its Board of Directors (the “Board”) adopted a tax benefits preservation plan (the “Rights Agreement”) in an effort to protect stockholder value by attempting to protect against a possible limitation on the Company’s ability to use its net operating loss carryforwards, any loss or deduction attributable to a “net unrealized built-in loss” and other tax attributes (collectively, “Tax Benefits”) under the Internal Revenue Code (the “Code”).

As of September 30, 2026, Cooper Standard’s estimated U.S. Tax Benefits are approximately $215 million, which may be available to offset its future taxable income. The Company views its Tax Benefits as highly valuable assets, which are likely to inure to the benefit of the Company and its stockholders. However, if the Company experiences an “ownership change,” as defined in Section 382 of the Code, its ability to use the Tax Benefits could be substantially limited, and the timing of the usage of the Tax Benefits could be substantially delayed, which could significantly impair the value of the Tax Benefits. Generally, an “ownership change” occurs if the percentage of the Company’s stock owned by one or more “five percent stockholders” increases by more than fifty percentage points over the lowest percentage of stock owned by such stockholders at any time during the prior three-year period or, if sooner, since the last “ownership change” experienced by the Company.

The Rights Agreement is intended to act as a deterrent to any person acquiring 4.9% or more of the outstanding shares (an “acquiring person”) of the Company’s common stock without the approval of the Board. This would protect the Tax Benefits because changes in ownership by a person owning less than 4.9% of the common stock are not included in the calculation of “ownership change” for purposes of Section 382 of the Code.

The record date for the distribution of the rights is November 12, 2026. Under the Rights Agreement, the rights will initially trade with the Company’s common stock and will generally become exercisable only if a person (or any persons acting as a group) acquires 4.9% or more of the Company’s outstanding common stock. If the rights become exercisable, all holders of rights (other than any triggering person) will be entitled to acquire shares of common stock at a 50% discount. Under the Rights Agreement, any person who currently owns 4.9% or more of the Company’s common stock may continue to own its shares of common stock but may not acquire any additional shares without triggering the Rights Agreement. Under the Rights Agreement, the Board has the discretion to exempt any transaction and to exempt any person (or group of persons) from the provisions of the Rights Agreement.

The rights expire, unless earlier terminated, on the earliest to occur of: (i) the close of business on November 1, 2029; (ii) the time at which the Rights are redeemed; (iii) the time at which all exercisable Rights are exchanged; (iv) the close of business on November 1, 2027, if the approval of the Company’s stockholders of the Rights Agreement has not been obtained by that date; (v) the repeal of Section 382 of the Code if the Board determines that the Rights Agreement is no longer necessary or desirable for the preservation of the Tax Benefits; or (vii) the time at which the Board determines that the Tax Benefits are fully utilized or no longer available under Section 382 of the Code or that an ownership change under Section 382 of the Code would not adversely impact in any material respect the time period in which the Company could use the Tax Benefits, or materially impair the amount of the Tax Benefits that could be used by the Company in any particular time period, for applicable tax purposes.

Additional information about the Rights Agreement is available on a Form 8-K filed by Cooper Standard with the U.S. Securities and Exchange Commission.

About Cooper Standard

Cooper Standard, headquartered in Northville, Mich., with locations in 20 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard’s approximately 22,000 team members (including contingent workers) are at the heart of our success, continuously improving our business and surrounding communities. Learn more at www.cooperstandard.com or follow us on LinkedIn, X, Facebook, Instagram or YouTube.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Our use of words “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “believe,” “outlook,” “guidance,” “forecast,” or future or conditional verbs, such as “will,” “should,” “could,” “would,” or “may,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, we cannot assure you that these expectations, beliefs and projections will be achieved. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. Among other items, such factors may include: volatility or decline of the Company’s stock price, or absence of stock price appreciation; impacts and disruptions related to the wars in Ukraine and the Middle East; escalating pricing pressures; our ability to achieve commercial recoveries and to offset the adverse impact of higher commodity and other costs through pricing and other negotiations with our customers; work stoppages or other labor disruptions with our employees or our customers’ employees; prolonged or material contractions in automotive sales and production volumes; our inability to realize sales represented by awarded business; loss of large customers or significant platforms; our ability to successfully compete in the automotive parts industry; availability and increasing volatility in costs of manufactured components and raw materials; disruptions in our supply base or our customers’ supply base; competitive threats and commercial risks associated with our diversification strategy; possible variability of our working capital requirements; risks associated with our international operations, including changes in laws, regulations, and policies governing the terms of foreign trade such as increased trade restrictions and tariffs; our ability to collect tariff recoveries from our customers; foreign currency exchange rate fluctuations; our ability to control the operations of our joint ventures for our sole benefit; our substantial amount of indebtedness and rates of interest; our ability to obtain adequate financing sources in the future; operating and financial restrictions imposed on us under our debt instruments; the underfunding of our pension plans; significant changes in discount rates and the actual return on pension assets; effectiveness of continuous improvement programs and other cost savings plans; significant costs related to manufacturing facility closings or consolidation; our ability to execute new program launches; our ability to meet customers’ needs for new and improved products; the possibility that our acquisitions and divestitures may not be successful; product liability, warranty and recall claims brought against us; laws and regulations, including environmental, health and safety laws and regulations; legal and regulatory proceedings, claims or investigations against us; the potential impact of any future public health events on our financial condition and results of operations; the ability of our intellectual property to withstand legal challenges; cyber-attacks, data privacy concerns, other disruptions in, or the inability to implement upgrades to, our information technology systems; the possible volatility of our annual effective tax rate; the possibility of a failure to maintain effective controls and procedures; the possibility of future impairment charges to our goodwill and long-lived assets; our ability to identify, attract, develop and retain a skilled, engaged and diverse workforce; our ability to procure insurance at reasonable rates; and our dependence on our subsidiaries for cash to satisfy our obligations; and other risks and uncertainties, including those detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

You should not place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date of this press release and we undertake no obligation to publicly update or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except where we are expressly required to do so by law.

Contact for Analysts:

Roger Hendriksen

Cooper Standard

(248) 596-6465

roger.hendriksen@cooperstandard.com

Contact for Media:

Chris Andrews

Cooper Standard

(248) 596-6217

candrews@cooperstandard.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/cooper-standard-adopts-tax-benefits-preservation-plan-to-protect-its-tax-benefits-and-shareholder-value-302926932.html

SOURCE Cooper Standard

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Harmonic Announces Third Quarter 2026 Results

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Revenue increased 64% year over year to $148.8 million, well above the high end of guidance
Rest-of-Market revenue more than doubled year over year to a record 46% of total revenue
Company raises full-year 2026 revenue outlook to $545 million – $555 million

SAN JOSE, Calif., Nov. 2, 2026 /PRNewswire/ — Harmonic Inc. (Nasdaq: HLIT) today announced its unaudited results for the third quarter ended October 2, 2026.

“Our accelerating momentum led to a breakout third quarter with revenue growing 64% year over year, driven mainly by Rest-of-Market growth which more than doubled year over year,” said Nimrod Ben-Natan, president and chief executive officer of Harmonic. “Additionally, we continued executing on our strategy by introducing new fiber and intelligence products including our Recon platform, Oyster+, cOS Loop™ and cOS SensAI™. We remain confident in our ability to deliver sustainable, profitable growth while simultaneously investing to significantly increase our addressable markets as outlined in our recent Investor Day.”

Financial and Business Highlights for Continuing Operations

Q3 2026

GAAP

Non-GAAP

(Unaudited, in millions, except per share data)

Net revenue

$

148.8

$

n/a

Operating profit (1)

26.2

33.0

Net income per share (1)

$

0.16

$

0.23

Backlog and deferred revenue of $534.0 million, an increase of 58%, compared to $338 million last yearCash: $142.8 million at October 2, 2026, compared to $124.1 million at December 31, 2025$160 million available under our revolving credit facility at October 2, 2026, compared to $85 million at July 3, 2026, due to a $75 million repayment in the third quarter

Business Highlights

Commercially deployed our cOS™ solution with 167 customers, serving 52.6 million CPE devices, with ongoing expansion across all tier-1 accounts and new customer winsRest-of-Market bookings represented over 60% of total Q3 bookings, reflecting meaningful progress in customer diversificationLaunched cOS SensAI, a recurring revenue service, in September following extended trials; secured first customer wins and began migrating existing cloud customers to the platformUnveiled Recon, developed in collaboration with Comcast, extending Harmonic’s intelligence portfolio to fiber reliability and helping operators detect and resolve network issues before subscribers are affectedAcquired a vendor-agnostic fiber management and provisioning platform company

_________________________________
(1) Includes stranded costs of approximately $1.5 million for Q3 2026.

Discontinued Operations – Video Business

The results of the Company’s Video Business are presented as held-for-sale and discontinued operations in the condensed consolidated statements of operations and condensed consolidated balance sheets for all periods presented in this press release. As previously announced, on December 8, 2025, the Company entered into a Put Option Agreement to sell its Video business to Leone Media Inc. (d/b/a MediaKind) for a purchase price of $145 million in cash (the “Disposition”). On March 20, 2026, MediaKind and the Company executed the Asset Purchase Agreement (the “APA”) for the Disposition.

On June 16, 2026, the Company and MediaKind completed the Disposition. Proceeds from the sale were $137.9 million paid at closing, subject to final post-closing adjustments under the terms of the APA. Following the Disposition, Harmonic operates as a pure-play broadband company with a single reportable segment: Broadband. As such, and unless stated otherwise, all results presented in the following table reflect those of continuing operations. The Company and MediaKind are in the process of finalizing the post-closing adjustments, which are currently expected to be completed in the first quarter of 2027.

Select Financial Information for Continuing Operations

GAAP

Non-GAAP

Key Financial Results

Q3 2026

Q2 2026

Q3 2025

Q3 2026

Q2 2026

Q3 2025

(Unaudited, in millions, except per share data)

Net revenue

$

148.8

$

133.5

$

90.5

n/a

n/a

n/a

Operating profit (1)

$

26.2

$

23.6

$

4.0

$

33.0

$

31.3

$

10.1

Net income (loss) per share

$

0.16

$

0.16

$

(0.00)

$

0.23

$

0.21

$

0.07

Other Financial Information

Q3 2026

Q2 2026

Q3 2025

(Unaudited, in millions)

Bookings for the quarter

$

105.9

$

144.3

$

97.4

Backlog and deferred revenue as of quarter end                                   

$

534.0

$

587.6

$

338.0

Cash and cash equivalents as of quarter end

$

142.8

$

231.9

$

127.4

Explanations regarding our use of Non-GAAP financial measures and related definitions, and reconciliations of our GAAP and Non-GAAP measures, are provided in the sections below entitled “Use of Non-GAAP Financial Measures” and “GAAP to Non-GAAP Reconciliations.”

_________________________________
(1) Includes stranded costs of approximately $1.5 million in Q3 2026, $2.3 million in Q2 2026, and $2.2 million in Q3 2025.

GAAP Financial Guidance for Continuing Operations

Q4 2026 GAAP Financial Guidance (1)

(Unaudited, in millions, except percentages and per share data)

Low

High

Net revenue

$

141

$

151

Gross margin %

51.0 %

52.0 %

Operating profit (2)

$

22

$

28

Tax rate

31.0 %

31.0 %

Net income per share

$

0.13

$

0.16

Shares (3)

109.2

109.2

2026 GAAP Financial Guidance (1)

(Unaudited, in millions, except percentages and per share data)            

Low

High

Net revenue

$

545

$

555

Gross margin %

51.9 %

52.3 %

Operating profit (2)

$

93

$

99

Tax rate

31.0 %

31.0 %

Net income per share

$

0.54

$

0.57

Shares (3)

110.2

110.2

Non-GAAP Financial Guidance for Continuing Operations

Q4 2026 Non-GAAP Financial Guidance (1)

(Unaudited, in millions, except percentages and per share data)     

Low

High

Gross margin %

51.0 %

52.0 %

Gross profit

$

72

$

79

Operating profit (2)

$

28

$

34

Tax rate

23.0 %

23.0 %

Net income per share

$

0.19

$

0.23

Shares (3)

109.2

109.2

2026 Non-GAAP Financial Guidance (1)

(Unaudited, in millions, except percentages and per share data)

Low

High

Gross margin %

52.1 %

52.4 %

Gross profit

$

284

$

291

Operating profit (2)

$

118

$

124

Tax rate

23.0 %

23.0 %

Net income per share

$

0.80

$

0.84

Shares (3)

110.2

110.2

_________________________________
(1)  Refer to “Use of Non-GAAP Financial Measures” and “GAAP to Non-GAAP Reconciliations on Financial Guidance” below. Components may not sum due to rounding.
(2)  Includes approximately $1.5 million and $7.6 million of stranded costs associated with the Video business divestiture for Q4 2026 and FY 2026, respectively.
(3) Diluted shares assume stock price of $11.98 (Q3 2026 average price).

Conference Call Information

Harmonic will host a conference call to discuss its financial results at 2:00 p.m. PT (5:00 p.m. ET) on Monday, November 2, 2026. The live webcast will be available on the Harmonic Investor Relations website at http://investor.harmonicinc.com. To participate via telephone, please register in advance using this link, https://register-conf.media-server.com/register/BI3ab9c6deda3a4df08222bd943609a117. A replay will be available after 5:00 p.m. PT on the same website.

About Harmonic Inc.

Harmonic (Nasdaq: HLIT), the worldwide leader in virtualized broadband solutions, is transforming multi-gigabit connectivity. The company’s industry-leading cOS™ virtualized broadband platform, suite of solutions for fiber and DOCSIS, and a growing portfolio of AI-powered network intelligence solutions, enable broadband service providers to simplify operations, deliver exceptional subscriber experiences and expand revenue streams. With thousands of vCMTS servers and hundreds of thousands of RPDs deployed globally, Harmonic powers next-generation broadband services with five-nines reliability. Anchored with a customer-first approach and driven by a legacy of innovation, Harmonic supports broadband service providers at every stage of their network evolution. More information is available at www.harmonicinc.com.  

Legal Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements related to our expectations regarding: net revenue; gross margins; operating expenses; operating income (loss), including stranded costs associated with the disposition of the Video business; tax expense and tax rate, and net income (loss) per diluted share. Our expectations 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, in no particular order, the following: customer concentration and consolidation; loss of one or more key customers; delays or decreases in capital spending in the cable or telco industries; the possibility that our products will not generate sales that are commensurate with our expectations or that our cost of revenue or operating expenses may exceed our expectations; the market and technology trends underlying our Broadband business will not continue to develop in their current direction or pace; the impact of tariffs and general economic conditions on our sales and operations; the mix of products and services sold in various geographies and the effect it has on gross margins; our ability to develop new and enhanced products in a timely manner and market acceptance of our new or existing products; risks associated with our international operations; exchange rate fluctuations of the currencies in which we conduct business; risks associated with our cOS™ product solutions; dependence on various broadband industry trends; inventory management; the lack of timely availability or the impact of increases in the prices of parts or raw materials necessary to produce our products; the effect of competition, on both revenue and gross margins; difficulties associated with rapid technological changes in our markets; risks associated with unpredictable sales cycles; our dependence on contract manufacturers and sole or limited source suppliers; stock repurchases may not be conducted in the timeframe or in the manner we expect, or at all; and the impact on our business of natural disasters. In some cases, you can identify forward-looking statements by terminology such as, “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “believes,” “intends,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other comparable terminology. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Harmonic’s filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K for the year ended December 31, 2025, our most recent Quarterly Report on Form 10-Q and our Current Reports on Form 8-K. The forward-looking statements in this press release are based on information available to the Company as of the date hereof, and Harmonic disclaims any obligation to update any forward-looking statements.

Use of Non-GAAP Financial Measures

The Company reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP” or referred to herein as “reported”). However, management believes that certain Non-GAAP financial measures provide management and other users with additional meaningful financial information that should be considered when assessing our ongoing performance. Our management regularly uses our supplemental Non-GAAP financial measures internally to understand, manage and evaluate our business, establish operating budgets, set internal measurement targets and make operating decisions.

These Non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles and may be different from Non-GAAP measures used by other companies. In addition, these Non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Harmonic’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Harmonic’s results of operations in conjunction with the corresponding GAAP measures.

The Company believes that the presentation of Non-GAAP measures, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations. Non-GAAP financial measures should be viewed in addition to, and not as an alternative to, the Company’s reported results prepared in accordance with GAAP.

The Non-GAAP measures presented here are: Gross profit, operating expenses, income (loss) from operations, non-operating expenses and net income (loss), and net income (loss) per diluted share. The presentation of Non-GAAP information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP, and is not necessarily comparable to Non-GAAP results published by other companies. A reconciliation of the historical Non-GAAP financial measures discussed in this press release to the most directly comparable historical GAAP financial measures is included with the financial statements provided with this press release. The Non-GAAP adjustments described below have historically been excluded from our GAAP financial measures.

Our Non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:

Stock-based compensation – Although stock-based compensation is a key incentive offered to our employees, we continue to evaluate our business performance excluding stock-based compensation expenses. We believe that management is limited in its ability to project the impact stock-based compensation would have on our operating results. In addition, for comparability purposes, we believe it is useful to provide a Non-GAAP financial measure that excludes stock-based compensation in order to better understand the long-term performance of our core business and to facilitate the comparison of our results to the results of our peer companies.

Asset impairment and related charges – We exclude impairment and related charges due to the nature of such expenses being unusual and arising outside the ordinary course of continuing operations. These costs primarily consist of impairments of goodwill, fixed assets, right-of-use assets and related leasehold improvements, and other unrecoverable facility costs due to the intended change in use of certain leased space.

Non-recurring advisory fees – There were non-recurring costs that we excluded from Non-GAAP results relating to professional accounting, tax and legal fees associated with strategic corporate initiatives.

Divestiture related employee compensation costs – There were non-recurring costs that we excluded from Non-GAAP results relating to employee compensation costs resulting from the divestiture.

Restructuring and related charges – Harmonic from time to time incurs restructuring charges which primarily consist of employee severance, one-time termination benefits related to the reduction of its workforce, and other costs. These charges are associated with material business shifts. We exclude these items because we do not believe they are reflective of our ongoing long-term business and operating results.

Discrete tax items and tax effect of Non-GAAP adjustments – The income tax effect of Non-GAAP adjustments relates to the tax effect of the adjustments that we incorporate into Non-GAAP financial measures in order to provide a more meaningful measure of Non-GAAP net income. This non-recurring adjustment has been excluded from the Company’s non-GAAP tax rate and non-GAAP financial measures, as management believes exclusion of this item provides more meaningful period-to-period comparisons of ongoing operating performance.

Harmonic Inc.

Preliminary Condensed Consolidated Balance Sheets

(Unaudited, in thousands, except par value)

October 2, 2026

December 31, 2025

ASSETS

Current assets:

Cash and cash equivalents

$

142,841

$

124,105

Accounts receivable, net of allowances for credit losses of $413 and $227 as of
October 2, 2026 and December 31, 2025, respectively

117,110

85,935

Inventories

94,825

47,840

Prepaid expenses and other current assets

24,856

12,530

Assets held for sale

—

223,961

Total current assets

379,632

494,371

Property and equipment, net

23,577

25,648

Operating lease right-of-use assets

11,596

13,687

Goodwill

64,587

60,900

Deferred income taxes, net

90,910

104,043

Other non-current assets

18,801

19,834

Total assets

$

589,103

$

718,483

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Current portion of long-term debt

$

2,944

$

2,944

Accounts payable

56,435

23,093

Deferred revenue

20,435

31,519

Operating lease liabilities

5,563

6,433

Other current liabilities

70,781

48,288

Liabilities to be disposed of

—

85,671

Total current liabilities

156,158

197,948

Long-term debt

33,410

109,140

Operating lease liabilities, non-current

12,208

14,664

Other non-current liabilities

11,771

13,485

Total liabilities

213,547

335,237

Stockholders’ equity:

Preferred stock, $0.001 par value, 5,000 shares authorized; no shares issued or
outstanding

—

—

Common stock, $0.001 par value, 150,000 shares authorized; 108,965 and
111,186 shares issued and outstanding at October 2, 2026 and December 31,
2025, respectively

109

111

Additional paid-in capital

2,488,443

2,466,177

Accumulated deficit

(2,103,595)

(2,076,406)

Accumulated other comprehensive loss

(9,401)

(6,636)

Total stockholders’ equity

375,556

383,246

Total liabilities and stockholders’ equity

$

589,103

$

718,483

 

Harmonic Inc.

Preliminary Condensed Consolidated Statements of Operations

(Unaudited, in thousands, except per share data)

Three Months Ended

Nine Months Ended

October 2, 2026

September 26, 2025

October 2, 2026

September 26, 2025

Revenue:

Appliance and integration

$

137,187

$

76,179

$

357,962

$

220,305

SaaS and service

11,651

14,313

46,033

41,983

Total net revenue

148,838

90,492

403,995

262,288

Cost of revenue:

Appliance and integration

67,726

42,253

174,997

116,339

SaaS and service

3,993

5,940

18,376

17,384

Total cost of revenue

71,719

48,193

193,373

133,723

Total gross profit

77,119

42,299

210,622

128,565

Operating expenses:

Research and development

23,558

18,701

65,638

56,357

Selling, general and administrative

27,300

18,681

74,215

58,944

Asset impairment and related charges

205

—

633

1,637

Restructuring and related charges

(103)

887

(103)

1,315

Total operating expenses

50,960

38,269

140,383

118,253

Income from operations

26,159

4,030

70,239

10,312

Interest income (expense), net

231

(1,001)

(1,930)

(3,402)

Other income (expense), net

(591)

440

(1,212)

(1,373)

Income before income taxes

25,799

3,469

67,097

5,537

Provision for income taxes

7,705

3,984

22,304

4,540

Income (loss) from continuing operations, net of tax

18,094

(515)

44,793

997

Income (loss) from discontinued operations, net of tax

(3,456)

3,209

(25,170)

10,508

Net income

$

14,638

$

2,694

$

19,623

$

11,505

Net income (loss) per share:

Basic:

Continuing operations

$

0.17

$

(0.00)

$

0.41

$

0.01

Discontinued operations

(0.04)

0.02

(0.23)

0.09

Basic net income per share

$

0.13

$

0.02

$

0.18

$

0.10

Diluted:

Continuing operations

$

0.16

$

(0.00)

$

0.41

$

0.01

Discontinued operations

(0.03)

0.02

(0.23)

0.09

Diluted net income per share

$

0.13

$

0.02

$

0.18

$

0.10

Weighted average common shares:

Basic

109,111

112,982

109,161

114,221

Diluted

110,259

112,982

110,433

114,602

 

Harmonic Inc.

Preliminary Condensed Consolidated Statements of Cash Flows

(Unaudited, in thousands) 

Nine Months Ended

October 2, 2026

September 26, 2025

Cash flows from Continuing and Discontinued Operations

Cash flows from operating activities:

Net income

$

19,623

$

11,505

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

8,315

8,215

Asset impairment and related charges

633

1,637

Stock-based compensation

27,524

23,486

Foreign currency remeasurement

(88)

446

Deferred income taxes, net

21,875

(3,120)

Loss on divestiture

6,566

—

Provision for excess and obsolete inventories

1,429

2,789

Other

95

61

Changes in operating assets and liabilities:

Accounts receivable, net

(35,481)

74,121

Inventories

(51,525)

(3,944)

Prepaid expenses and other assets

(11,021)

10,359

Accounts payable

34,264

(13,785)

Deferred revenues

(4,252)

1,173

Other liabilities

5,992

(17,265)

Net cash provided by operating activities

23,949

95,678

Cash flows from investing activities:

Net proceeds from divestiture, net of cash retained and transaction costs (1)

131,963

—

Acquisitions of businesses, net of cash acquired

(1,809)

—

Purchases of property and equipment

(5,831)

(8,404)

Net cash provided by (used in) investing activities

124,323

(8,404)

Cash flows from financing activities:

Proceeds from long-term debt

170,000

95,000

Repayment of long-term debt and other borrowings

(248,644)

(101,897)

Repurchase of common stock

(46,582)

(65,757)

Proceeds from other borrowings

—

3,835

Proceeds from common stock issued to employees

4,534

5,983

Taxes paid related to net share settlement of equity awards

(6,740)

(3,795)

Net cash used in financing activities

(127,432)

(66,631)

Effect of exchange rate changes on cash and cash equivalents and restricted cash

(2,089)

5,283

Net increase in cash and cash equivalents and restricted cash

18,751

25,926

Cash and cash equivalents and restricted cash at beginning of period (2)

124,461

101,789

Cash and cash equivalents and restricted cash at end of period

$

143,212

$

127,715

Cash and cash equivalents and restricted cash at end of period

Cash and cash equivalents

$

142,841

$

127,376

Restricted cash included in other current assets

371

339

Total cash, cash equivalents and restricted cash as shown in the condensed
consolidated statement of cash flows

$

143,212

$

127,715

_________________________________
1 Net proceeds from divestiture includes transaction costs of $3.8 million and cash retained in the business sold of $2.1 million.
2 Restricted cash included in other current assets was $0.4 million and $0.3 million as of December 31, 2025 and 2024 respectively.

Harmonic Inc.

Preliminary Condensed Consolidated Statements of Cash Flows

(Unaudited, in thousands)

Nine Months Ended

October 2, 2026

September 26, 2025

Supplemental cash flow disclosure:

Income tax payments, net

$

5,532

$

14,496

Interest payments, net

1,999

2,897

Supplemental schedule of non-cash investing activities:

Capital expenditures incurred but not yet paid

934

968

Acquisition holdback consideration not yet paid

$

1,631

$

—

 

Harmonic Inc.

Preliminary GAAP Revenue Information

(Unaudited, in thousands, except percentages)

Three Months Ended

October 2, 2026

July 3, 2026

September 26, 2025

Geography

Americas

$

133,063

90 %

$

120,603

91 %

$

80,040

88 %

EMEA

10,993

7 %

8,421

6 %

9,717

11 %

APAC

4,782

3 %

4,438

3 %

735

1 %

Total

$

148,838

100 %

$

133,462

100 %

$

90,492

100 %

Customer

Top 2 customers (1)

$

80,103

54 %

$

84,053

63 %

$

56,306

62 %

Rest-of-Market

68,735

46 %

49,409

37 %

34,186

38 %

Total

$

148,838

100 %

$

133,462

100 %

$

90,492

100 %

Nine Months Ended

October 2, 2026

September 26, 2025

Geography

Americas

$

360,096

89 %

$

235,346

90 %

EMEA

29,873

7 %

24,113

9 %

APAC

14,026

4 %

2,829

1 %

Total

$

403,995

100 %

$

262,288

100 %

Customer

Top 2 customers (1)

$

235,257

58 %

$

165,420

63 %

Rest-of-Market

168,738

42 %

96,868

37 %

Total

$

403,995

100 %

$

262,288

100 %

(1)  Based on largest subscriber footprint

Harmonic Inc.

GAAP to Non-GAAP Reconciliations (Unaudited)

(in thousands, except percentages and per share data)

Three Months Ended October 2, 2026

Revenue

Gross
Profit

Total
Operating
Expense

Income from
Operations

Total
Non-
operating
Expense, net

Net Income

GAAP

$

148,838

$

77,119

$

50,960

$

26,159

$

(360)

$

18,094

Stock-based compensation

—

402

(5,655)

6,057

—

6,057

Restructuring and related charges

—

—

103

(103)

—

(103)

Non-recurring advisory fees

—

—

(214)

214

—

214

Divestiture related employee compensation costs

—

—

(450)

450

—

450

Lease-related asset impairment and other charges (1)

—

—

(205)

205

—

205

Discrete tax items and tax effect of Non-GAAP adjustments

—

—

—

—

—

202

Total adjustments

—

402

(6,421)

6,823

—

7,025

Non-GAAP

$

148,838

$

77,521

$

44,539

$

32,982

$

(360)

$

25,119

As a % of revenue (GAAP)

51.8 %

34.2 %

17.6 %

(0.2) %

12.2 %

As a % of revenue (Non-GAAP)

52.1 %

29.9 %

22.2 %

(0.2) %

16.9 %

Diluted net income per share:

GAAP

$

0.16

Non-GAAP

$

0.23

Shares used in per share calculation:

GAAP and Non-GAAP

110,259

(1) Includes impairment charges of $0.2 million for right-of-use assets.

 

Three Months Ended July 3, 2026

Revenue

Gross
Profit

Total
Operating
Expense

Income from
Operations

Total
Non-
operating
Expense, net

Net Income

GAAP

$

133,462

$

69,888

$

46,257

$

23,631

$

(1,661)

$

17,051

Stock-based compensation

—

808

(6,476)

7,284

—

7,284

Lease-related asset impairment and other charges (1)

—

—

(428)

428

—

428

Discrete tax items and tax effect of Non-GAAP adjustments

—

—

—

—

—

(1,908)

Total adjustments

—

808

(6,904)

7,712

—

5,804

Non-GAAP

$

133,462

$

70,696

$

39,353

$

31,343

$

(1,661)

$

22,855

As a % of revenue (GAAP)

52.4 %

34.7 %

17.7 %

(1.2) %

12.8 %

As a % of revenue (Non-GAAP)

53.0 %

29.5 %

23.5 %

(1.2) %

17.1 %

Diluted net income per share:

GAAP

$

0.16

Non-GAAP

$

0.21

Shares used in per share calculation:

GAAP and Non-GAAP

109,682

(1) Includes impairment charges of $0.1 million for right-of-use assets and $0.3 million related to the fair value of other unrecoverable facility costs.

 

Harmonic Inc.

GAAP to Non-GAAP Reconciliations (Unaudited)

(in thousands, except percentages and per share data)

Three Months Ended September 26, 2025

Revenue

Gross
Profit

Total
Operating
Expense

Income from
Operations

Total
Non-
operating
Expense, net

Net Income
(Loss)

GAAP

$

90,492

$

42,299

$

38,269

$

4,030

$

(561)

$

(515)

Stock-based compensation

—

125

(5,032)

5,157

—

5,157

Restructuring and related charges

—

—

(887)

887

—

887

Discrete tax items and tax effect of Non-GAAP adjustments

—

—

—

—

—

1,986

Total adjustments

—

125

(5,919)

6,044

—

8,030

Non-GAAP

$

90,492

$

42,424

$

32,350

$

10,074

$

(561)

$

7,515

As a % of revenue (GAAP)

46.7 %

42.3 %

4.5 %

(0.6) %

(0.6) %

As a % of revenue (Non-GAAP)

46.9 %

35.7 %

11.1 %

(0.6) %

8.3 %

Diluted net income (loss) per share:

GAAP

$

(0.00)

Non-GAAP

$

0.07

Shares used in per share calculation:

GAAP

112,982

Non-GAAP

113,323

Nine Months Ended October 2, 2026

Revenue

Gross
Profit

Total
Operating
Expense

Income from
Operations

Total
Non-
operating
Expense, net

Net Income

GAAP

$

403,995

$

210,622

$

140,383

$

70,239

$

(3,142)

$

44,793

Stock-based compensation

—

1,475

(17,430)

18,905

—

18,905

Restructuring and related charges

—

—

103

(103)

—

(103)

Non-recurring advisory fees

—

—

(214)

214

—

214

Divestiture related employee compensation costs

—

—

(450)

450

—

450

Lease-related asset impairment and other charges (1)

—

—

(633)

633

—

633

Discrete tax items and tax effect of non-GAAP adjustments

—

—

—

—

—

1,875

Total adjustments

—

1,475

(18,624)

20,099

—

21,974

Non-GAAP

$

403,995

$

212,097

$

121,759

$

90,338

$

(3,142)

$

66,767

As a % of revenue (GAAP)

52.1 %

34.7 %

17.4 %

(0.8) %

11.1 %

As a % of revenue (Non-GAAP)

52.5 %

30.1 %

22.4 %

(0.8) %

16.5 %

Diluted net income per share:

GAAP

$

0.41

Non-GAAP

$

0.60

Shares used in per share calculation:

GAAP and Non-GAAP

110,433

(1) Includes impairment charges of $0.3 million for right-of-use assets and $0.3 million related to the fair value of other unrecoverable facility costs.

 

Nine Months Ended September 26, 2025

Revenue

Gross
Profit

Total
Operating
Expense

Income from
Operations

Total
Non-
operating
Expense, net

Net Income

GAAP

$

262,288

$

128,565

$

118,253

$

10,312

$

(4,775)

$

997

Stock-based compensation

—

743

(15,086)

15,829

—

15,829

Restructuring and related charges

—

—

(1,315)

1,315

—

1,315

Lease-related asset impairment and other charges (1)

—

—

(1,637)

1,637

—

1,637

Discrete tax items and tax effect of non-GAAP adjustments

—

—

—

—

—

(566)

Total adjustments

—

743

(18,038)

18,781

—

18,215

Non-GAAP

$

262,288

$

129,308

$

100,215

$

29,093

$

(4,775)

$

19,212

As a % of revenue (GAAP)

49.0 %

45.1 %

3.9 %

(1.8) %

0.4 %

As a % of revenue (Non-GAAP)

49.3 %

38.2 %

11.1 %

(1.8) %

7.3 %

Diluted net income per share:

GAAP

$

0.01

Non-GAAP

$

0.17

Shares used in per share calculation:

GAAP and Non-GAAP

114,221

(1) Includes impairment charges of $0.4 million for right-of-use assets, $0.3 million for leasehold improvements, and $0.9 million related to the fair value
of other unrecoverable facility costs.

 

Harmonic Inc.

GAAP to Non-GAAP Reconciliations on Financial Guidance (Unaudited)(1)

(In millions, except percentages and per share data)

Q4 2026 Financial Guidance

Revenue

Gross Profit

Total Operating
Expense

Income from
Operations

Net Income

GAAP

$

141

to

$

151

$

72

to

$

79

$

50

to

$

51

$

22

to

$

28

$

14

to

$

18

Stock-based compensation

—

—

(6)

6

6

Tax effect of Non-GAAP adjustments

—

—

—

—

1

Total adjustments

—

—

(6)

6

7

7

Non-GAAP

$

141

to

$

151

$

72

to

$

79

$

44

to

$

45

$

28

to

$

34

$

21

to

$

25

As a % of revenue (GAAP)

51.0 %

to

52.0 %

35.5 %

to

33.8 %

15.6 %

to

18.5 %

9.9 %

to

11.9 %

As a % of revenue (Non-GAAP)

51.0 %

to

52.0 %

31.2 %

to

29.8 %

19.9 %

to

22.5 %

14.9 %

to

16.6 %

Diluted net income per share:

GAAP

$

0.13

to

$

0.16

Non-GAAP

$

0.19

to

$

0.23

Shares used in per share calculation:

GAAP and Non-GAAP

109.2

FY 2026 Financial Guidance

Revenue

Gross Profit

Total Operating
Expense

Income from
Operations

Net Income

GAAP

$

545

to

$

555

$

283

to

$

290

$

190

to

$

191

$

93

to

$

99

$

59

to

$

63

Stock-based compensation

—

1

(23)

24

24

Lease-related asset impairment and related charges

—

—

(1)

1

1

Tax effect of Non-GAAP adjustments

—

—

—

—

4

Total adjustments

—

1

(24)

25

29

to

29

Non-GAAP

$

545

to

$

555

$

284

to

$

291

$

166

to

$

167

$

118

to

$

124

$

88

to

$

92

As a % of revenue (GAAP)

51.9 %

to

52.3 %

34.9 %

to

34.4 %

17.1 %

to

17.8 %

10.8 %

to

11.4 %

As a % of revenue (Non-GAAP)

52.1 %

to

52.4 %

30.5 %

to

30.1 %

21.7 %

to

22.3 %

16.1 %

to

16.6 %

Diluted net income per share:

GAAP

$

0.54

to

$

0.57

Non-GAAP

$

0.80

to

$

0.84

Shares used in per share calculation:

GAAP and non-GAAP

110.2

_________________________________
(1) Components may not sum to total due to rounding.

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SOURCE Harmonic Inc.

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POMDOCTOR LIMITED Announces Receipt of Nasdaq Notifications Regarding Continued Listing Requirements

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GUANGZHOU, China, Nov. 2, 2026 /PRNewswire/ — POMDOCTOR LIMITED (“Pomdoctor” or the “Company”) (Nasdaq: POM), a digital healthcare company focused on advancing AI-enabled healthcare solutions and predictive healthcare capabilities, today announced that on October 28, 2026, it received two letters (the “Letters”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) regarding deficiencies with respect to certain continued listing requirements of The Nasdaq Global Market.

The first Letter notified the Company that, based upon the Company’s MVLS for the 30 consecutive business days from September 16, 2026 through October 27, 2026, the Company no longer meets the requirement under Nasdaq Listing Rule 5450(b)(2)(A) to maintain market value of listed securities (“MVLS”) of at least $50 million (the “MVLS Requirement”). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rule 5450(b)(3) (A).

Pursuant to Nasdaq Listing Rule 5810(c)(3)(C), the Company has a compliance period of 180 calendar days, or until April 26, 2027, to regain compliance with the MVLS Requirement. If at any time during the compliance period the Company’s MVLS closes at $50 million or more for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance and the matter will be closed.

The second Letter notified the Company that, based upon the Company’s MVPHS for the 30 consecutive business days from September 16, 2026 through October 27, 2026, the Company no longer meets the requirement under Nasdaq Listing Rule 5450(b)(2&3)(C) to maintain a minimum market value of publicly held shares (“MVPHS”) of $15 million (the “MVPHS Requirement”).

Pursuant to Nasdaq Listing Rule 5810(c)(3)(D), the Company has a compliance period of 180 calendar days, or until April 26, 2027, to regain compliance with the MVPHS Requirement. If at any time during the compliance period the Company’s MVPHS closes at $15 million or more for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance and the matter will be closed.

If the Company does not regain compliance prior to the expiration of the applicable compliance period, the Company will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel.

The Company intends to monitor its MVLS and MVPHS and evaluate available options to regain compliance with the applicable continued listing requirements within the compliance period.

There can be no assurance that the Company will regain compliance with the applicable Nasdaq continued listing requirements within the compliance period or otherwise maintain compliance with Nasdaq’s other continued listing requirements.

About POMDOCTOR LIMITED

POMDOCTOR LIMITED (Nasdaq: POM) is a digital healthcare company focused on advancing AI-enabled healthcare solutions and expanding predictive healthcare capabilities. The Company leverages physician resources, wearable technologies, artificial intelligence, healthcare payment networks and real-world healthcare data to support more personalized, continuous and data-driven healthcare services.

Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements include, without limitation, statements concerning the Company’s ability and plans to regain and maintain compliance with Nasdaq’s continued listing requirements, including the MVLS Requirement and the MVPHS Requirement, the Company’s evaluation of alternatives available to regain compliance, and the continued listing of the Company’s Class A ordinary shares on Nasdaq.

Forward-looking statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied by such statements. Factors that could cause actual results to differ materially include, among others, the Company’s ability to regain and maintain compliance with the MVLS Requirement, the MVPHS Requirement and other Nasdaq continued listing requirements, fluctuations in the market price of the Company’s Class A ordinary shares, and the other risks and uncertainties described in the Company’s filings with the U.S. Securities and Exchange Commission.

The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release, except as required by applicable law.

Investor Relations Contact

POMDOCTOR LIMITED
Investor Relations Department
Email: ir@7lk.com

Ascent Investor Relations LLC 
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

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SOURCE POMDOCTOR LIMITED

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