Technology
ePlus Reports Second Quarter and First Half Financial Results Fiscal Year 2027
Published
6 days agoon
By
~ Strong Second Quarter Performance Across Key Metrics ~
~ Record Quarterly Gross Billings Exceeded $1 Billion ~
~ Increasing Fiscal 2027 Guidance ~
Second Quarter Fiscal Year 2027
•
Net sales increased 9.7% to $667.9 million; services revenues decreased 2.4% to
$120.8 million.
•
Gross billings increased 4.3% to $1,066.8 million.
•
Gross profit increased 11.2% to $180.3 million.
•
Gross margin was 27.0%, compared to 26.6% for last fiscal year’s second quarter.
•
Net earnings from continuing operations increased 5.8% to $40.4 million.
•
Adjusted EBITDA increased 14.3% to $67.1 million.
•
Net earnings from continuing operations per common share-diluted increased 7.6% to
$1.56. Non-GAAP: net earnings from continuing operations per common share-diluted
increased 19.0% to $1.82.
First Half Fiscal Year 2027
•
Net sales increased 5.2% to $1,317.0 million; services revenues remained consistent
at $240.2 million.
•
Gross billings increased 2.5% to $2,023.9 million.
•
Gross profit increased 5.0% to $331.6 million.
•
Gross margin remained consistent to last year’s first half of 25.2%.
•
Net earnings from continuing operations increased 0.7% to $70.7 million.
•
Adjusted EBITDA increased 3.2% to $114.9 million.
•
Net earnings from continuing operations per common share-diluted increased 2.3% to
$2.72. Non-GAAP: net earnings from continuing operations per common share-diluted
increased 5.1% to $3.11.
HERNDON, Va., Nov. 5, 2026 /PRNewswire/ — ePlus inc. (NASDAQ: PLUS), a leading provider of technology solutions, today announced financial results for the three months and six months ended September 30, 2026, or the second quarter of its 2027 fiscal year.
Management Comment
“We delivered robust top line growth, improved profitability, and experienced growth against key metrics in the second quarter. Record gross billings surpassed the prior year’s record showing strong momentum reflecting our customer-first approach as we provide the products and services our clients require, particularly for Artificial Intelligence (AI) and Cybersecurity,” commented Mark Marron, President and CEO. “Overall, our solid performance in the second quarter and year to date reflect consistent execution and the strength and breadth of our diversified business model.
“Our strong balance sheet represents a competitive advantage, with our cash position at $381 million at quarter end. During the second quarter we advanced our acquisition strategy with the purchase of certain assets and liabilities of Daymark Solutions, a provider of critical IT solutions and professional services focused on implementing and supporting complex hybrid cloud, cybersecurity, compliance, and data centers. We remain disciplined in our approach to capital allocation, balancing acquisitions with other growth investments and returning capital to shareholders via share repurchases and dividend payments.”
Second Quarter Fiscal Year 2027 Results
For the second quarter ended September 30, 2026, as compared to the second quarter ended September 30, 2025:
Net sales increased 9.7% to $667.9 million, from $608.8 million due to higher product sales, partially offset by lower service revenue. Gross billings increased 4.3% to $1,066.8 million from $1,022.7 million.
Product segment sales increased 12.8% to $547.1 million from $485.0 million due to increases in revenue from cloud, security, collaboration and other products, partially offset by a decrease in networking products. Product segment gross margin was 25.8%, up from 24.5% last year due to a shift in product mix, and an increase in sales of third-party maintenance, subscriptions and services that are recognized on a net basis.
Professional services segment revenues decreased 11.3% year over year to $67.8 million from $76.3 million, and gross margin declined to 35.4% from 38.2% during the same period last year due to decreases in revenue and gross profit from project-related services due to delays from retail customers.
Managed services segment revenue increased 11.9% to $53.1 million primarily due to additional revenue from cloud managed services. Gross profit from managed services increased 9.4% year over year due to the increase in revenue, offset by a decrease in gross margin to 28.8% from 29.4% in the prior year quarter.
Gross profit increased 11.2% to $180.3 million, from $162.1 million, due to an increase in gross profit from the product segment and managed services segment, offset by a decrease in the professional services segment. Gross margin was 27.0%, compared with 26.6% in the prior year quarter, due to higher gross margin in the product segment, offset by lower gross margin in the managed services segment and professional services segment.
Operating expenses were $123.8 million, up 9.2% from $113.3 million last year, primarily due to increases in variable compensation commensurate with the increase in gross profit, as well as additional salaries and benefits, general and administrative costs, and expenses related to the acquisition of assets of Daymark Solutions, Inc.(“Daymark”).
Operating income increased 15.8% to $56.5 million. Other income (expense), net was $(0.5) million compared to $5.2 million in the prior year due to a reduction of $3.5 million in the fair value of the contingent consideration receivable recorded as a result of the sale of our domestic financing business, lower interest income and foreign currency transaction losses being recognized in the current year quarter compared to foreign exchange gains in the prior year quarter. Earnings from continuing operations before taxes increased 3.7% to $56.0 million.
The effective tax rate for the current quarter was 27.9%, which was lower than the prior year quarter of 29.3% primarily due to lower state and local income taxes and lower non-deductible expenses.
Net earnings from continuing operations increased 5.8% to $40.4 million from $38.2 million in the prior year quarter. Adjusted EBITDA increased 14.3% to $67.1 million from $58.7 million in the prior year quarter. Net earnings from continuing operations per common share-diluted was $1.56, up from $1.45 in the prior year quarter. Non-GAAP net earnings from continuing operations per common share diluted was $1.82, compared with $1.53 in the prior year quarter. Total shares outstanding were 26.0 million and 26.3 million on September 30, 2026, and March 31, 2026, respectively.
Net earnings were $40.4 million as compared to $34.9 million in the prior year quarter. Last year, earnings from discontinued operations, net of taxes, for the three months ended September 30, 2025, was a loss of $3.3 million and net (loss) from discontinued operations per common share diluted for the three months ended September 30, 2025, was $(0.13). There were no transactions for discontinued operations for the three months ended September 30, 2026.
First Half Fiscal Year 2027 Results
For the six months ended September 30, 2026, as compared to the six months ended September 30, 2025:
Net sales increased 5.2% to $1,317.0 million, from $1,251.6 million due to higher product sales. Gross billings increased 2.5% to $2,023.9 million from $1,975.4 million.
Product segment sales increased 6.5% to $1,076.7 million from $1,011.4 million due to increases in revenue from cloud, security, and collaboration products, offset by a decrease in networking products. Product segment gross margin was 23.4%, up from 22.8% last year due to a shift in product mix, and an increase in sales of third-party maintenance and subscriptions.
Professional services segment revenues decreased 8.3% year over year to $135.8 million from $148.1 million, and gross margin declined to 36.2% from 38.7% during the same period last year, both primarily due to decreases in revenue from project services, and staff augmentation.
Managed services segment revenue increased 13.4% to $104.4 million primarily due to additional sales of cloud services. Gross profit from managed services segment increased 10.3% year on year due to the increase in revenue, offset by a decline in gross margin to 29.1% from 29.9%, mainly driven by increased third-party costs.
Gross profit increased 5.0% to $331.6 million, from $315.8 million due to an increase in gross profit from the product segment and managed services segment, offset by a decrease in the professional services segment. Gross margin remained consistent at 25.2%, compared to the six-month period in the prior year.
Operating expenses were $236.3 million, up 5.5% from $224.0 million last year, primarily due to increases in variable compensation commensurate with the increase in gross profit, as well as additional salaries and benefits, general and administrative costs, and expenses related to the acquisition of assets of Daymark.
Operating income increased 3.9% to $95.4 million. Other income (expense), net was $2.6 million compared to $5.8 million last year, due to the reduction of contingent consideration receivable of $3.5 million, offset by decreased foreign exchange losses and increased interest income during the current six-month period. Earnings from continuing operations before taxes increased 0.4% to $98.0 million.
The effective tax rate for the six months ended September 30, 2026, was 27.9%, which was lower than the same six-month period in the prior year of 28.1% primarily due to state and local taxes and lower non-deductible expenses.
Net earnings from continuing operations increased 0.7% to $70.7 million from $70.2 million in the prior year. Adjusted EBITDA increased 3.2% to $114.9 million from $111.4 million in the prior year six-month period. Net earnings from continuing operations per common share-diluted was $2.72, compared with $2.66 in the prior year. Non-GAAP: Net earnings from continuing operations per common share-diluted was $3.11, compared with $2.96 in the prior year.
Net earnings were $70.7 million as compared to $77.4 million in the prior year. Earnings from discontinued operations, net of taxes, for the six months ended September 30, 2025, was $7.3 million. Net earnings from discontinued operations per common share – diluted for the six months ended September 30, 2025, was $0.28. There were no transactions for discontinued operations for the six months ended September 30, 2026.
Balance Sheet Highlights
As of September 30, 2026, cash and cash equivalents were $380.9 million, down from $410.8 million as of March 31, 2026. Inventory increased 35.1% to $271.4 million as of September 30, 2026, compared with $200.9 million as of March 31, 2026, due to several ongoing projects. Accounts receivable—trade, net increased 14.9% to $746.9 million as of September 30, 2026 from $650.0 million as of March 31, 2026. Total stockholders’ equity was $1,096.4 million as of September 30, 2026, compared with $1,069.0 million as of March 31, 2026.
Fiscal Year Guidance
ePlus is increasing its fiscal year 2027 guidance of year over year growth to the upper single digits for net sales and gross profit, and the low double digits for adjusted EBITDA.
This guidance does not factor in recessionary conditions, or other unexpected developments. ePlus cannot predict with reasonable certainty and without unreasonable effort, the ultimate outcome of unusual gains and losses, the occurrence of matters creating GAAP tax impacts, fluctuations in interest expense or interest income and share-based compensation, and acquisition- or disposition-related expenses. These items are uncertain, depend on various factors, and could be material to ePlus’ results computed in accordance with GAAP. Accordingly, ePlus is unable to provide a reconciliation of GAAP net earnings from continuing operations to Adjusted EBITDA for the full fiscal year 2027 forecast.
ePlus Announces Quarterly Dividend
ePlus announced today that its Board of Directors has declared a quarterly cash dividend of $0.27 per common share which will be paid on December 16, 2026, to shareholders of record as of the close of business on November 24, 2026.
Summary and Outlook
“The accelerating adoption of AI, increasing demand for advanced data center infrastructure and growing emphasis on cybersecurity and digital transformation continue to reshape the technology landscape, creating significant opportunities for long-term growth for ePlus. As organizations accelerate investments in modernizing their IT networks and strengthening cybersecurity, our deep customer relationships and broad portfolio of products and services position us well to meet demand and support our customers’ growth. These factors, combined with our strong performance year to date, support our confidence in the sustainability of our business trends and our increased full year fiscal 2027 guidance,” concluded Mr. Marron.
Recent Corporate Developments/Recognitions
In the second quarter of its 2027 fiscal year, ePlus:
Acquired certain assets and liabilities of Daymark SolutionsAchieved Exclusive Ambassador Partner Status with EverpureNamed NetApp North America Flash Partner of the Year
Conference Call Information
Date:
November 5, 2026
Time:
4:30 p.m. ET
Audio Webcast (live/archive):
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Live Call:
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Archived Call:
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Conference ID:
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A replay of the call will be available approximately two hours after the call through November 12,
2026.
About ePlus inc.
ePlus is a customer-first, services-led, and results-driven industry leader offering transformative technology solutions and services to provide the best customer outcomes. Offering a full portfolio of solutions, including artificial intelligence, security, cloud and data center, networking and collaboration, as well as managed, consultative and professional services, ePlus works closely with organizations across many industries to successfully navigate business challenges. With a long list of industry-leading partners and more than 2,170 employees, our expertise has been honed over more than three decades, giving us specialized yet broad levels of experience and knowledge. ePlus is headquartered in Virginia, with locations in the United States, United Kingdom, Europe, and Asia‐Pacific. For more information, visit www.eplus.com, call 888-482-1122, or email info@eplus.com. Connect with ePlus on LinkedIn, Facebook, and Instagram.
ePlus, Where Technology Means More®.
ePlus® and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries.
Forward-looking statements
Statements in this press release that are not historical facts may be deemed to be “forward-looking statements,” including, among other things, statements regarding the future financial performance of ePlus. Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, financial losses resulting from national and international political instability fostering uncertainty and volatility in the global economy including changes in interest rates, tariffs, inflation, export requirements applicable to products we sell, sanctions and exposure to foreign currency rate changes; supply chain issues, including a shortage of information technology (“IT”) component parts and products, and our vendors’ corresponding rapid and unpredictable price fluctuations, or a customer’s or vendor’s cancellation of orders such as for, but not limited to, memory chips, which may increase our and our customer’s costs, decrease gross profit, cause a delay in fulfilling or inability to fulfill customer orders, increase our need for working capital, delay the completion of professional services, or require the purchase of IT products or services needed to support our internal infrastructure or operations, resulting in an adverse impact on our financial results; significant adverse changes in our relationship with one or more of our larger customer accounts or vendors, including decreased account profitability, reductions in contracted services, or a loss of such relationships; risks relating to artificial intelligence (“AI”), including the use or capabilities of AI and emerging laws, rules and regulations related to AI; our ability to manage a diverse product set of solutions, including AI products and services, in highly competitive markets with a number of key vendors; changes in the IT industry and/or rapid changes in product offerings, including the proliferation of the cloud, infrastructure as a service (“IaaS”), software as a service (“SaaS”), platform as a service (“PaaS”), and AI which may affect our financial results; our ability to remain secure during a cybersecurity attack or other IT outage, including disruptions in our, our vendors or a third party’s IT systems and data and audio communication networks; a material decrease in the credit quality of our customer base, or a material increase in our credit losses; increases in our costs including wages and our ability to increase our prices to our customers as a result, or negative financial impacts due to the pricing arrangements we have with our customers; reliance on third parties to perform some of our service obligations to our customers, and the reliance on a small number of key vendors in our supply chain with whom we do not have long-term supply agreements, guaranteed price agreements, or assurance of stock availability; the possibility of a reduction of vendor consideration provided to us; our inability to identify merger and acquisition candidates, perform sufficient due diligence prior to completing mergers and acquisitions, successfully complete merger and acquisition transactions (including on favorable terms), successfully integrate a completed merger and/or acquisition, identify an opportunity for, or successfully complete a business disposition, or achieve the operational and financial results we anticipate after a disposition; our ability to secure our own and our customers’ electronic and other confidential information, while maintaining compliance with evolving data privacy and cybersecurity laws and regulations and appropriately providing required notice and disclosure of cybersecurity incidents when and if necessary; our dependence on key personnel to maintain certain customer relationships, and our ability to hire, train, and retain sufficient qualified personnel by recruiting and retaining highly skilled, competent personnel with needed vendor certifications; inadequate design or maintenance of our IT platforms for internal use or solutions we offer to our customers or our inability to effectively and timely capitalize on the opportunities made available by the adoption of AI and not having adequate or competent IT personnel to support our business; cybersecurity attacks that may occur while employees work remotely and our ability to adequately train our personnel to prevent a cyber event; our ability to raise capital, maintain or increase, as needed, our lines of credit with vendors or our floor plan facility, or the related effect of those matters on our common stock price; our ability to predictably meet expectations of the investor and analyst community, including relative to our financial performance guidance that we provide, including based on the continuation of our regular dividend issuance and share repurchases; our ability to create and implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration, and other key strategies following mergers and acquisitions; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission.
The declaration and payment of future dividends are subject to the sole discretion of our Board of Directors.
All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information either as a result of new information, future events or otherwise, except as required by applicable U.S. securities law.
ePlus inc. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
September 30, 2026
March 31, 2026
ASSETS
Current assets:
Cash and cash equivalents
$
380,891
$
410,769
Accounts receivable—trade, net
746,906
650,021
Accounts receivable—other, net
45,515
38,896
Inventories
271,353
200,888
Deferred costs
78,296
77,748
Other current assets
86,216
49,412
Total current assets
1,609,177
1,427,734
Deferred tax asset
8,952
8,955
Property, equipment and other assets—net
105,334
100,039
Goodwill
212,093
202,880
Other intangible assets—net
59,830
61,344
TOTAL ASSETS
$
1,995,386
$
1,800,952
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Current liabilities:
Accounts payable
$
383,412
$
264,605
Accounts payable—floor plan
139,227
119,693
Salaries and commissions payable
51,896
48,590
Contract liabilities
180,794
157,074
Other current liabilities
52,992
48,181
Total current liabilities
808,321
638,143
Contract liabilities—long-term
77,344
83,010
Other liabilities
13,303
10,829
TOTAL LIABILITIES
898,968
731,982
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 per share par value; 2,000 shares authorized; none
outstanding
–
–
Common stock, $0.01 per share par value; 75,000 shares authorized;
27,919 shares issued and 26,000 outstanding at September 30, 2026,
and 27,765 shares issued and 26,299 outstanding at March 31, 2026
279
278
Additional paid-in capital
219,330
210,274
Treasury stock, at cost, 1,919 shares at September 30, 2026, and 1,466
shares at March 31, 2026
(140,226)
(101,944)
Retained earnings
1,012,561
956,000
Accumulated other comprehensive income—foreign currency translation
adjustment
4,474
4,362
Total Stockholders’ Equity
1,096,418
1,068,970
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$
1,995,386
$
1,800,952
ePlus inc. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
Three months ended
September 30,
Six months ended
September 30,
2026
2025
2026
2025
Net sales
Product
$
547,117
$
485,065
$
1,076,847
$
1,011,531
Services
120,807
123,761
240,190
240,070
Total
667,924
608,826
1,317,037
1,251,601
Cost of sales
Product
406,112
366,066
824,722
780,543
Services
81,527
80,636
160,701
155,258
Total
487,639
446,702
985,423
935,801
Gross profit
180,285
162,124
331,614
315,800
Selling, general, and administrative
118,032
106,479
224,653
210,146
Depreciation and amortization
5,726
6,810
11,602
13,879
Operating expenses
123,758
113,289
236,255
224,025
Operating income
56,527
48,835
95,359
91,775
Other income (expense), net
(527)
5,163
2,603
5,775
Earnings from continuing operations before tax
56,000
53,998
97,962
97,550
Provision for income taxes
15,617
15,838
27,300
27,376
Net earnings from continuing operations
40,383
38,160
70,662
70,174
Earnings (loss) from discontinued operations, net of tax
–
(3,305)
–
7,264
Net earnings
$
40,383
$
34,855
$
70,662
$
77,438
Earnings per common share—basic
Continuing operations
$
1.56
$
1.45
$
2.73
$
2.67
Discontinued operations
–
(0.13)
–
0.28
Earnings per common share—basic
$
1.56
$
1.32
$
2.73
$
2.95
Earnings per common share—diluted
Continuing operations
$
1.56
$
1.45
$
2.72
$
2.66
Discontinued operations
–
(0.13)
–
0.28
Earnings per common share—diluted
$
1.56
$
1.32
$
2.72
$
2.94
Weighted average common shares outstanding—basic
25,835
26,362
25,887
26,316
Weighted average common shares outstanding—diluted
25,911
26,406
25,997
26,407
Segment results
Three months ended
Six months ended
September 30,
September 30,
2026
2025
Change
2026
2025
Change
Net sales
Product segment
$
547,117
$
485,014
12.8 %
$
1,076,720
$
$1,011,369
6.5 %
Professional services segment
67,752
76,344
(11.3 %)
135,833
148,073
(8.3 %)
Managed services segment
53,055
47,417
11.9 %
104,357
91,997
13.4 %
Total reportable segments
667,924
608,775
9.7 %
1,316,910
1,251,439
5.2 %
Other
–
51
(100.0 %)
127
162
(21.6 %)
Total
$
667,924
$
608,826
9.7 %
$
1,317,037
$
$1,251,601
5.2 %
Gross profit
Product segment
$
141,005
$
119,013
18.5 %
$
252,072
$
230,955
9.1 %
Professional services segment
24,014
29,172
(17.7 %)
49,158
57,325
(14.2 %)
Managed services segment
15,266
13,953
9.4 %
30,331
27,487
10.3 %
Total reportable segments
180,285
162,138
11.2 %
331,561
315,767
5.0 %
Other
–
(14)
(100.0 %)
53
33
60.6 %
Total
$
180,285
$
162,124
11.2 %
$
331,614
$
315,800
5.0 %
Gross Billings by Type
Networking
$
286,256
$
315,189
(9.2 %)
$
544,984
$
583,921
(6.7 %)
Security
272,182
255,158
6.7 %
491,949
445,203
10.5 %
Cloud
270,003
202,828
33.1 %
558,845
514,845
8.5 %
Collaboration
43,519
41,286
5.4 %
69,236
64,063
8.1 %
Other
75,710
76,917
(1.6 %)
123,567
128,363
(3.7 %)
Product segment
947,670
891,378
6.3 %
1,788,581
1,736,395
3.0 %
Services
119,141
131,277
(9.2 %)
235,365
239,025
(1.5 %)
Total
$
1,066,811
$
1,022,655
4.3 %
$
2,023,946
$
1,975,420
2.5 %
Net Sales by Type
Product segment
Networking
$
234,382
$
258,156
(9.2 %)
$
458,103
$
476,358
(3.8 %)
Cloud
178,599
128,270
39.2 %
359,347
335,266
7.2 %
Security
72,693
65,889
10.3 %
150,958
126,996
18.9 %
Collaboration
18,422
16,558
11.3 %
33,914
28,315
19.8 %
Other
43,021
16,141
166.5 %
74,398
44,434
67.4 %
Total products segment
547,117
485,014
12.8 %
1,076,720
1,011,369
6.5 %
Professional services segment
67,752
76,344
(11.3 %)
135,833
148,073
(8.3 %)
Managed services segment
53,055
47,417
11.9 %
104,357
91,997
13.4 %
Total reportable segments
$
667,924
$
608,775
9.7 %
$
1,316,910
$
1,251,439
5.2 %
Net Sales by Customer End
Market
Telecom, media & entertainment
$
153,884
$
176,772
(12.9 %)
$
292,581
$
361,751
(19.1 %)
Healthcare
100,413
82,285
22.0 %
179,610
156,576
14.7 %
Financial services
93,521
63,079
48.3 %
166,907
110,579
50.9 %
SLED
91,902
87,246
5.3 %
171,758
177,808
(3.4 %)
Technology
69,434
69,549
(0.2 %)
187,433
152,296
23.1 %
Retail
34,962
40,062
(12.7 %)
69,885
72,033
(3.0 %)
All others
123,808
89,782
37.9 %
248,736
220,396
12.9 %
Total reportable segments
$
667,924
$
608,775
9.7 %
$
1,316,910
$
1,251,439
5.2 %
Amounts presented for the three and six months ended September 30, 2026, have been revised to reflect the correction of certain misstatements in previously issued financial statements, which we determined are not material either individually or in the aggregate. See our Form 10-Q for the quarter ended September 30, 2026, including Note 2 to the Consolidated Financial Statements, for more information.
ePlus inc. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP INFORMATION
We included reconciliations below for the following non-GAAP financial measures: (i) Adjusted EBITDA, (ii) Non-GAAP: Net earnings from continuing operations and (iii) Non-GAAP Net earnings from continuing operations per common share diluted.
We define Adjusted EBITDA as net earnings from continuing operations calculated in accordance with US GAAP, adjusted for the following: depreciation and amortization, share-based compensation, acquisition related expenses, provision for income taxes, and other (income) expense, net.
Non-GAAP: Net earnings from continuing operations and Non-GAAP Net earnings from continuing operations per common share diluted are based on net earnings from continuing operations calculated in accordance with US GAAP, adjusted to exclude other (income) expense, net, share-based compensation, acquisition related expense, acquisition related amortization expense, and the related tax effects.
We use the above non-GAAP financial measures as supplemental measures of our performance to gain insight into our operating performance and performance trends. We believe that these financial measures provide management and investors with a useful measure for period-to-period comparisons of our business and operating results by excluding items that management believes are not reflective of our underlying operating performance. Accordingly, we believe that such non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results.
Our use of non-GAAP information as analytical tools has limitations, and should not be considered in isolation or as substitutes for analysis of our financial results as reported under US GAAP. In addition, other companies, including companies in our industry, might calculate Adjusted EBITDA, Non-GAAP: Net earnings from continuing operations and Non-GAAP: Net earnings from continuing operations per common share-diluted, or similarly titled measures differently, which may reduce their usefulness as comparative measures.
The amounts in the tables below are results from our continuing operations (in thousands):
(i) Reconciliation of Adjusted EBITDA
Three months ended
September 30,
Six months ended
September 30,
2026
2025
2026
2025
GAAP: Net earnings from continuing operations
$
40,383
$
38,160
$
70,662
$
70,174
Provision for income taxes
15,617
15,838
27,300
27,376
Share-based compensation
4,102
3,058
7,223
5,721
Acquisition related expenses
746
–
746
–
Depreciation and amortization [1]
5,726
6,810
11,602
13,879
Other (income) expense, net [2]
527
(5,163)
(2,603)
(5,775)
Non-GAAP: Adjusted EBITDA
$
67,101
$
58,703
$
114,930
$
111,375
(ii) Reconciliation of Non-GAAP: Net earnings from continuing operations
Three months ended
September 30,
Six months ended
September 30,
2026
2025
2026
2025
GAAP: Net earnings from continuing operations before
tax
$
56,000
$
53,998
$
97,962
$
97,550
Share-based compensation
4,102
3,058
7,223
5,721
Acquisition related expenses
746
–
746
–
Acquisition related amortization expense [3]
4,449
5,313
9,014
10,861
Other (income) expense, net [2]
527
(5,163)
(2,603)
(5,775)
Non-GAAP: Earnings from continuing operations before
provision for income taxes
65,824
57,206
112,342
108,357
GAAP: Provision for income taxes
15,617
15,838
27,300
27,376
Share-based compensation
1,149
896
2,034
1,608
Acquisition related expenses
209
–
209
–
Acquisition related amortization expense [3]
1,246
1,552
2,541
3,025
Other (income) expense, net [2]
148
(1,512)
(740)
(1,675)
Tax benefit (expense) on restricted stock
61
(25)
279
89
Non-GAAP: Provision for income taxes
18,430
16,749
31,623
30,423
Non-GAAP: Net earnings from continuing operations
$
47,394
$
40,457
$
80,719
$
77,934
(iii) Reconciliation of Non-GAAP: Net earnings from continuing operations per common share – diluted
Three months ended
September 30,
Six months ended
September 30,
2026
2025
2026
2025
GAAP: Net earnings from continuing operations per
common share – diluted
$
1.56
$
1.45
$
2.72
$
2.66
Share-based compensation
0.11
0.08
0.20
0.16
Acquisition related expenses
0.02
–
0.02
–
Acquisition related amortization expense [3]
0.12
0.14
0.25
0.30
Other (income) expense, net [2]
0.01
(0.14)
(0.07)
(0.16)
Tax benefit (expense) on restricted stock
–
–
(0.01)
–
Total non-GAAP adjustments – net of tax
0.26
0.08
0.39
0.30
Non-GAAP: Net earnings from continuing operations per
common share – diluted
$
1.82
$
1.53
$
3.11
$
2.96
[1] Amount consists of depreciation and amortization for assets used internally.
[2] Interest income and foreign currency transaction gains and losses, and adjustments to the fair value of contingent consideration.
[3] Amount consists of amortization of intangible assets from acquired businesses.
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SOURCE EPLUS INC.
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Technology
RADCOM Reports Third Quarter 2026 Results
Published
28 minutes agoon
November 11, 2026By
Increased revenue 19.4% sequentially, returned to quarterly non-GAAP operating income, and maintained positive cash flow
TEL AVIV, Israel, Nov. 11, 2026 /PRNewswire/ — RADCOM Ltd. (Nasdaq: RDCM) announced today its financial results for the third quarter ended September 30, 2026.
Third-quarter revenues were $14.0 million, up 19.4% sequentially and down 23.6% year over year. Although RADCOM recorded a GAAP operating loss, it returned to non-GAAP operating profitability. RADCOM also generated $1.7 million in positive cash flow and ended the quarter with $111.4 million in cash, cash equivalents, and short-term bank deposits and no debt, up from $109.7 million as of June 30, 2026.
“We returned to non-GAAP operating profitability this quarter and added two new customers, VNPT and CETIN Networks, each replacing the incumbent vendor through a competitive process,” said Benny Eppstein, RADCOM’s Chief Executive Officer. “Our solutions remain integral to how customers manage their networks and end-user service quality, and our customer relationships remain strong. Operators continue to invest in their networks, and we are working closely with them on their deployment plans. Based on those discussions, we see positive signs that some deployments delayed in 2026 will begin to move forward in early 2027.”
“We are reaffirming our revised full-year outlook,” Eppstein continued. “With $111.4 million in cash and no debt, we are investing in RADCOM ACE and our agentic AI roadmap to drive growth. We expect to begin repurchasing shares after the current earnings-related blackout period ends, at management’s discretion. Looking ahead, we remain open to partnerships and targeted acquisitions that expand our solution portfolio, enhance customer value, and deliver greater returns to stakeholders. Together, these steps reflect our confidence in the business and our commitment to building long-term value for our shareholders.”
Third Quarter of 2026 Financial Highlights:
Total revenues for the third quarter of 2026 were $14.0 million, up 19.4% sequentially from $11.8 million in the second quarter of 2026, and down 23.6% year over year from $18.4 million in the third quarter of 2025.GAAP operating loss for the third quarter of 2026 was $0.9 million, or (6.4%) of revenue, compared to GAAP operating income of $2.4 million, or 13.1% of revenue, for the third quarter of 2025.Non-GAAP operating income for the third quarter of 2026 was $0.7 million, or 4.9% of revenue, compared to non-GAAP operating income of $3.8 million, or 20.9% of revenue, for the third quarter of 2025.GAAP net income for the third quarter of 2026 was $0.4 million, or $0.03 per diluted share, compared to GAAP net income of $3.5 million, or $0.21 per diluted share, for the third quarter of 2025.Non-GAAP net income for the third quarter of 2026 was $1.9 million, or $0.11 per diluted share, compared to non-GAAP net income of $4.9 million, or $0.29 per diluted share, for the third quarter of 2025.Cash flow for the third quarter of 2026 was positive at $1.7 million. As of September 30, 2026, the Company had cash, cash equivalents and short-term bank deposits of $111.4 million and no debt, compared to $109.7 million as of June 30, 2026.
First Nine Months of 2026 Financial Highlights:
Total revenues for the first nine months of 2026 were $44.4 million, compared to $52.6 million in the first nine months of 2025, a decline of 15.7% year over year.GAAP operating loss for the first nine months of 2026 was $2.5 million, or (5.6%) of revenue, compared to GAAP operating income of $5.6 million, or 10.7% of revenue, for the first nine months of 2025.Non-GAAP operating income for the first nine months of 2026 was $2.3 million, or 5.1% of revenue, compared to non-GAAP operating income of $10.4 million, or 19.8% of revenue, for the first nine months of 2025.GAAP net income for the first nine months of 2026 was $0.4 million, or $0.02 per diluted share, compared to GAAP net income of $8.3 million, or $0.50 per diluted share, for the first nine months of 2025.Non-GAAP net income for the first nine months of 2026 was $5.1 million, or $0.30 per diluted share, compared to non-GAAP net income of $13.2 million, or $0.79 per diluted share, for the first nine months of 2025.
Recent Highlights:
In the third quarter, VNPT (Vietnam Posts and Telecommunications Group), one of Vietnam’s largest telecom operators with over 30 million subscribers, selected RADCOM to provide AI-native, cloud-native service assurance for its roaming network. Following a competitive request for proposal (RFP) process, RADCOM will replace VNPT’s incumbent assurance vendor, deploying the cloud-native RADCOM ACE platform across multiple cloud environments with AI and machine learning (ML)-based anomaly detection to recognize issues before they affect the customer experience.RADCOM booked a multi-year contract with new customer CETIN Networks in Slovakia in the third quarter to deploy end-to-end, AI-driven assurance across its mobile network, from the radio access network (RAN) to the core, replacing the incumbent assurance provider. CETIN Networks is part of CETIN International and the wider e& PPF Telecom Group, which together serve more than 12 million customers across four countries.In September 2026, RADCOM’s Board of Directors authorized a share repurchase program of up to $20 million of the Company’s ordinary shares, expected to remain in effect for up to 18 months. No shares were repurchased during the third quarter, and the Company expects to begin repurchases at management’s discretion, after the current earnings-related blackout period ends.
Outlook
RADCOM reaffirms its revised full-year 2026 revenue outlook of $57 to $63 million, with a midpoint of $60 million, as announced on July 30, 2026.
Conference Call and Webcast
RADCOM’s management will host an interactive conference call on Wednesday, November 11, 2026, at 8:00 a.m. Eastern Time (3:00 p.m. Israel Time) to discuss the results and answer questions.
Conference call details:
Date / Time: Wednesday, November 11, 2026, at 8:00 a.m. Eastern Time / 3:00 p.m. Israel Time
USA Toll-Free: 1-866-652-8972
USA Toll-Free (alternate): 1-800-994-4498
Local Access: 03-9180609
Webcast (live and replay): https://www.veidan-conferencing.com/radcom
An archived replay of the call will be available on the RADCOM website following the live event.
About RADCOM
RADCOM (Nasdaq: RDCM) is a leading provider of advanced, intelligent assurance solutions with integrated AI Operations (AIOps) capabilities. Its flagship platform, RADCOM ACE, harnesses AI-driven analytics and generative AI (GenAI) to improve customer experiences. From lab testing to full-scale deployment, RADCOM utilizes cutting-edge networking technologies to capture and analyze real-time data. Its advanced 5G portfolio delivers end-to-end network observability, from the radio access network (RAN) to the core.
Designed to be open, vendor-neutral, and cloud-agnostic, RADCOM’s solutions drive next-generation network automation, optimization, and efficiency. By leveraging AI-powered intelligence, RADCOM reduces operational costs, enables predictive customer insights, and seamlessly integrates with business support systems (BSS), operations support systems (OSS), and service management platforms. Offering a complete, real-time view of mobile and fixed networks, RADCOM empowers telecom operators to ensure exceptional service quality, enhance user experiences, and build customer-centric networks.
For all investor inquiries, please contact:
Investor Relations:
Rob Fink or Joey Delahoussaye
FNK IR
rdcm@fnkir.com
646-809-4048 / 312-809-1087
Company Contact:
Hod Cohen
CFO
+972-3-645-5055
hod.cohen@radcom.com
Non-GAAP Information
Certain non-GAAP financial measures are included in this press release. These non-GAAP financial measures are provided to enhance the reader’s overall understanding of the Company’s financial performance. By excluding non-cash stock-based compensation that has been expensed in accordance with ASC Topic 718, financial income (expenses) and amortization of intangible assets related to acquisitions, the Company’s non-GAAP results provide information to both management and investors that is useful in assessing the Company’s core operating performance and in evaluating and comparing the Company’s results of operations on a consistent basis from period to period. These non-GAAP financial measures are also used by management to evaluate financial results and to plan and forecast future periods. The presentation of this additional information is not meant to be considered a substitute for the corresponding financial measures prepared in accordance with GAAP.
Risks Regarding Forward-Looking Statements
Certain statements made herein that use words such as “estimate,” “project,” “intend,” “expect,” “believe,” “may,” “might,” “potential,” “anticipate,” “plan” or similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. For example, when the Company discusses its full-year 2026 revenue outlook; the timing of customer deployments generally; continued investment by operators in their networks; the strength of its customer relationships building long-term value for shareholders and its investments in RADCOM ACE and its agentic AI roadmap; potential partnerships and targeted acquisitions and the initiation, timing, amount and duration of repurchases of its shares under its share repurchase program, it is using forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance, or achievements of the Company to be materially different from those that may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in demand for the Company’s products, delays in or cancellation of customer deployments, dependence on a limited number of customers, inability to timely develop and introduce new technologies, products, and applications, including AI-based capabilities, loss of market share and pressure on prices resulting from competition, market conditions, share price and other factors affecting whether and when the Company repurchases shares, and the effects of the conflict in Israel. For additional information regarding these and other risks and uncertainties associated with the Company’s business, reference is made to the Company’s reports filed from time to time with the U.S. Securities and Exchange Commission. The Company does not undertake to revise or update any forward-looking statements for any reason, except as required by law.
RADCOM Ltd.
Consolidated Statements of Operations
Unaudited
(thousands of U.S. dollars, except share and per share data)
Three months ended
September 30,
Nine months ended
September 30,
2026
2025
2026
2025
Revenues
$ 14,041
$ 18,388
$ 44,386
$ 52,637
Cost of revenues
3,817
4,364
11,260
12,823
Gross profit
10,224
14,024
33,126
39,814
Research and development, gross
5,355
5,119
16,754
14,832
Less – royalty-bearing participation
–
189
113
214
Research and development, net
5,355
4,930
16,641
14,618
Sales and marketing
4,076
5,144
14,224
14,944
General and administrative
1,686
1,535
4,734
4,635
Total operating expenses
11,117
11,609
35,599
34,197
Operating (loss) income
(893)
2,415
(2,473)
5,617
Financial income, net
1,493
1,163
3,513
3,076
Income before taxes on income
600
3,578
1,040
8,693
Taxes on income
159
107
636
344
Net income
$ 441
$ 3,471
$ 404
$ 8,349
Basic net income per ordinary share
$ 0.03
$ 0.21
$ 0.02
$ 0.52
Diluted net income per ordinary share
$ 0.03
$ 0.21
$ 0.02
$ 0.50
Weighted average number of
ordinary shares used in computing basic
net income per ordinary share
17,008,033
16,357,554
16,842,641
16,183,572
Weighted average number of
ordinary shares used in computing
diluted net income per ordinary share
17,300,951
16,923,983
17,225,321
16,766,553
(*) Less than $ 0.01
RADCOM LTD.
Reconciliation of GAAP to Non-GAAP Financial Information
Unaudited
(thousands of U.S. dollars, except share and per share data)
Three months ended
Nine months ended
September 30,
September 30,
2026
2025
2026
2025
GAAP gross profit
$ 10,224
$ 14,024
$ 33,126
$ 39,814
Stock-based compensation
88
99
267
298
Amortization of intangible assets
57
57
168
168
Non-GAAP gross profit
$ 10,369
$ 14,180
$ 33,561
$ 40,280
GAAP research and development, net
$ 5,355
$ 4,930
$ 16,641
$ 14,618
Stock-based compensation
437
421
1,385
1,308
Non-GAAP research and development, net
$ 4,918
$ 4,509
$ 15,256
$ 13,310
GAAP sales and marketing
$ 4,076
$ 5,144
$ 14,224
$ 14,944
Stock-based compensation
521
504
1,634
1,709
Amortization of intangible assets
29
29
87
86
Non-GAAP sales and marketing
$ 3,526
$ 4,611
$ 12,503
$ 13,149
GAAP general and administrative
$ 1,686
$ 1,535
$ 4,734
$ 4,635
Stock-based compensation
450
323
1,183
1,244
Non-GAAP general and administrative
$ 1,236
$ 1,212
$ 3,551
$ 3,391
GAAP total operating expenses
$ 11,117
$ 11,609
$ 35,599
$ 34,197
Stock-based compensation
1,408
1,248
4,202
4,261
Amortization of intangible assets
29
29
87
86
Non-GAAP total operating expenses
$ 9,680
$ 10,332
$ 31,310
$ 29,850
GAAP operating (loss) income
$ (893)
$ 2,415
$ (2,473)
$ 5,617
Stock-based compensation
1,496
1,347
4,469
4,559
Amortization of intangible assets
86
86
255
254
Non-GAAP operating income
$ 689
$ 3,848
$ 2,251
$ 10,430
RADCOM LTD.
Reconciliation of GAAP to Non-GAAP Financial Information
Unaudited
(thousands of U.S. dollars, except share and per share data)
Three months ended
September 30,
Nine months ended
September 30,
2026
2025
2026
2025
GAAP income before taxes on income
$ 600
$ 3,578
$ 1,040
$ 8,693
Stock-based compensation
1,496
1,347
4,469
4,559
Amortization of intangible assets
86
86
255
254
Financial (income) expenses, net
(90)
22
19
49
Non-GAAP income before taxes on income
$ 2,092
$ 5,033
$ 5,783
$ 13,555
GAAP net income
$ 441
$ 3,471
$ 404
$ 8,349
Stock-based compensation
1,496
1,347
4,469
4,559
Amortization of intangible assets
86
86
255
254
Financial (income) expenses, net
(90)
22
19
49
Non-GAAP net income
$ 1,933
$ 4,926
$ 5,147
$ 13,211
GAAP net income per diluted share
$ 0.03
$ 0.21
$ 0.02
$ 0.50
Stock-based compensation
0.09
0.07
0.27
0.27
Amortization of intangible assets
(*)
0.01
0.01
0.02
Financial (income) expenses, net
(0.01)
(*)
(*)
(*)
Non-GAAP net income per diluted share
$ 0.11
$ 0.29
$ 0.30
$ 0.79
Weighted average number of shares used to compute diluted
net income per share
17,300,951
16,923,983
17,225,321
16,766,553
(*) Less than $ 0.01
RADCOM Ltd.
Consolidated Balance Sheets
Unaudited
(thousands of U.S. dollars)
As of
As of
September 30, 2026
December 31, 2025
Current Assets
Cash and cash equivalents
$ 13,991
$ 30,486
Short-term bank deposits
97,449
79,437
Trade receivables, net
19,745
20,245
Inventories
549
318
Other accounts receivable and prepaid expenses
2,587
2,036
Total Current Assets
134,321
132,522
Non-Current Assets
Severance pay fund
3,297
3,431
Other long-term receivables
3,417
2,866
Property and equipment, net
1,242
988
Operating lease right-of-use assets
2,135
2,898
Goodwill and intangible assets, net
2,013
2,269
Total Non-Current Assets
12,104
12,452
Total Assets
$ 146,425
$ 144,974
Liabilities and Shareholders’ Equity
Current Liabilities
Trade payables
$ 2,676
$ 2,632
Deferred revenues and advances from customers
1,062
1,100
Employee and payroll accruals
4,405
7,325
Operating lease liabilities
1,141
1,099
Other liabilities and accrued expenses
10,587
10,872
Total Current Liabilities
19,871
23,028
Non-Current Liabilities
Accrued severance pay
4,581
4,790
Operating lease liabilities
1,329
2,135
Other liabilities and accrued expenses
1,164
916
Total Non-Current Liabilities
7,074
7,841
Total Liabilities
$ 26,945
$ 30,869
Shareholders’ Equity
Share capital
$ 839
$ 809
Additional paid-in capital
172,151
167,172
Accumulated other comprehensive loss
(2,961)
(2,923)
Accumulated deficit
(50,549)
(50,953)
Total Shareholders’ Equity
119,480
114,105
Total Liabilities and Shareholders’ Equity
$ 146,425
$ 144,974
View original content:https://www.prnewswire.com/news-releases/radcom-reports-third-quarter-2026-results-302936352.html
SOURCE RADCOM Ltd.
Technology
IBM Quantum Nighthawk Demonstrates New Levels of Speed and Quality, with Plans to Scale Beyond 1,000 Qubits in 2027
Published
28 minutes agoon
November 11, 2026By
New Nighthawk r3 processor will be built to execute 10,000 quantum operations, enabling larger and more complex computations as IBM advances its roadmap toward fault tolerance
Clients and partners including E.ON, Algorithmiq, and Q-CTRL have run more than 34 billion circuits on Nighthawk r2, reporting speedups of up to 19x beyond previous IBM quantum processors
Enhanced IBM Quantum Platform unites quantum with classical computing in one environment
YORKTOWN HEIGHTS, N.Y., Nov. 11, 2026 /PRNewswire/ — IBM (NYSE: IBM) today announced IBM Quantum Nighthawk r3, its next-generation processor, will be built to accurately execute 10,000 quantum operations across 520 qubits to tackle larger, more complex problems while maintaining the speed and quality demonstrated by the current generation Nighthawk available today.
In 2027, IBM plans to link two Nighthawk r3 processors into a single system with more than 1,000 qubits.
To be at the frontier of quantum computing, industry-relevant applications demand both computational quality and speed. Speed matters because a quantum computer delivers its answer in samples: each run of a quantum circuit returns one result. Applications increasingly require circuits executing thousands of quantum operations on approximately 100 qubits or more, generating millions to billions of samples. Scale and quality enable increasingly complex computations, but speed determines whether these demanding workloads can be completed in practical timeframes and at a reasonable cost.
“Useful quantum computing hinges on whether results can be delivered with accuracy and speed, both are fundamental,” said Jay Gambetta, Director of IBM Research and IBM Fellow. “Nighthawk is already showing us what that looks like today. As we scale this architecture to larger and more powerful quantum computers, the capabilities of quantum computation will reach new levels as we integrate more closely with classical resources and march ahead to fault tolerance.”
Nighthawk r2: Delivering Speed for Real-World Workloads
Introduced in September, IBM Quantum Nighthawk r2 delivers up to 100,000 samples per second while supporting accurate computations with more than 7,500 quantum operations on 120 qubits. Its high-speed qubit reset technology dramatically reduces the time between circuit executions, enabling applications to collect the millions or billions of samples needed for complex computations far more efficiently.
Clients and partners including E.ON, Algorithmiq, and Q-CTRL have executed 34 billion circuits on Nighthawk r2 to date, reporting performance improvements of up to 19x while maintaining the quality needed for scientific computation.
The results are already demonstrating value across industries. E.ON reported a 15x speedup on Nighthawk r2 in quantum machine learning for energy grid optimization. IBM used Nighthawk r2 for a 12x speedup of an experiment ran earlier this year with Oak Ridge National Laboratory, which simulated real magnetic materials and produced results consistent with neutron scattering experiments. Both of these speedups were achieved over previous work on IBM Quantum Heron. Quantum Elements and ParityQC are also among the partners reporting significant performance improvements on their own Nighthawk r2 workloads.
The quantum advantage experiments IBM and its partners published in July were first run on IBM Quantum Heron, with circuits and results openly available for independent testing through the community-led Quantum Advantage Tracker. An experiment with Algorithmiq to simulate a heterogeneous quantum material has now been extended to Nighthawk r2, leveraging its speed and connectivity to execute circuits 8 times faster than the original experiment on Heron. At the same time, the new circuits are significantly more challenging for classical computers to simulate, requiring an estimated 240 times more memory to achieve comparable accuracy when using leading classical tensor-network methods.
Nighthawk r3: Scaling to More Than 1,000 Qubits
Building on the performance demonstrated by Nighthawk r2, Nighthawk r3 will extend the same high-speed architecture to larger quantum computers. The new processor is designed to support 10,000 quantum operations on 520 programmable qubits, with 2,034 total physical qubits. It retains r2’s square-lattice connectivity and fast operations while introducing 10 chip-to-chip interconnects, called l-couplers, designed to connect processors into larger systems.
IBM has already demonstrated two critical technologies that enable this modular approach. This year, IBM connected Nighthawk r1 processors using four l-couplers, achieving 99.3 percent quantum state transfer fidelity and progressing toward its 99.9 percent target. IBM also connected two cryogenic modules into a single system for the first time, reaching operating temperature in under five days and cooling below 15 millikelvin.
Together, these advances demonstrate critical progress in modularity and provide confidence in IBM’s ability to scale Nighthawk to larger quantum computers. In 2027, IBM plans to connect two Nighthawk r3 processors into a single 1,040-qubit system, extending its high-performance architecture to larger and more complex computations.
Quantum Meets Classical on the IBM Quantum Platform
Advancing quantum computers requires continued progress in how they work alongside classical compute to handle errors. Industry-relevant workloads will demand layers of quantum error correction and error mitigation techniques alongside noise learning and post-processing. As quantum workloads scale, they will call for more classical resources, and the challenge now is how to best scale this integration.
To unite these paradigms, IBM Quantum Platform is bringing high-performance (HPC) classical and quantum computing together into a single managed environment. Users can now integrate quantum workflows directly with a range of classical compute – whether from their laptop or a powerful supercomputer – or with the HPC and classical resources that are newly available on the platform.
Users are seeing promising results from these integrations. For example, using the new environment, IBM and RIKEN* scientists executed their original sample-based quantum diagonalization (SQD) workflow roughly 5 times faster while performing 100 times more computations than in the original study. Cleveland Clinic and RIKEN also leveraged the platform to automatically process 608 million samples for modeling biologically relevant structures, 33 times faster than without workflow automation.
Enhanced capabilities will also fuel breakthroughs in quantum error correction. IBM Quantum Platform offers pulse-level capabilities to give researchers precise control over how they can detect, understand, and better correct errors within quantum and classical architectures. This helps them better time operations, reset qubits faster, and extract more information from quantum measurements – giving researchers the visibility to improve error correction at its most fundamental levels.
IBM recently launched a new co-design platform for quantum error correction with Oak Ridge National Laboratory and AMD that physically co-locates Nighthawk with ORNL’s Umbra High-Performance Computing (HPC) system, powered by AMD Instinct™ MI355X GPUs and 5th Gen AMD EPYC™ CPUs.
About IBM
IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.
For more information, visit https://research.ibm.com.
Media contacts:
Brittany Forgione
IBM
Brittany.forgione@ibm.com
Erin Angelini
IBM
edlehr@us.ibm.com
* This project is supported by NEDO (New Energy and Industrial Technology Development Organization), an organization under the jurisdiction of Japan’s Ministry of Economy, Trade and Industry (METI)’s “Research and Development of Quantum-Supercomputers Hybrid Platform for Exploration of Uncharted Computable Capabilities” (Project Leader: Mitsuhisa Sato) as part of the “Project for Research and Development of Enhanced Infrastructures for Post 5G Information and Communications Systems (JPNP20017).”
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/ibm-quantum-nighthawk-demonstrates-new-levels-of-speed-and-quality-with-plans-to-scale-beyond-1-000-qubits-in-2027–302935846.html
Technology
NewDay USA Honors Veterans Day with $1 Million Donation to Support New Fisher House in West Palm Beach
Published
28 minutes agoon
November 11, 2026By
Gift supports a larger, 16-suite house for Veteran families, building on NewDay’s year-round commitment to serving those who have served
WEST PALM BEACH, Fla., Nov. 11, 2026 /PRNewswire/ — This Veterans Day, NewDay USA, a national mortgage lending company serving the Veteran community, announced its $1 million donation to Fisher House Foundation in support of the new Fisher House at the West Palm Beach VA Medical Center. The gift supports construction of a larger, more accessible facility where Veteran families can stay close to their loved ones during medical care, at no cost to them.
“Helping Veterans and Service Members achieve the American Dream of homeownership is at the heart of NewDay’s mission, but our commitment to those who have served extends well beyond that,” said Rob Posner, CEO of NewDay USA. “When a Veteran needs medical care, their family should be able to focus on being there for them, not worrying about the cost of where they stay. It is our privilege to support Fisher House and help more military families stay together when they need each other the most.”
The new Fisher House will replace the smaller existing house on the VA campus, expanding to 16 fully wheelchair-accessible suites. The original facility lacks an elevator and full accessibility, limiting its ability to accommodate some families with mobility needs. The new house will provide both greater capacity and more accessible accommodations to better meet the needs of the Veteran community.
“More space and fully accessible suites mean we can welcome more families and better meet their needs,” said David Coker, President of Fisher House Foundation. “We are grateful to NewDay USA for helping make this new Fisher House possible and for the employees who give their time to support our guests throughout the year. Their generosity will help more families focus on what matters most: being there for a loved one receiving care.”
The donation builds on NewDay’s ongoing involvement with the West Palm Beach VA Medical Center and Fisher House. NewDay employees regularly volunteer at both facilities and serve dinner at Fisher House each month, offering a warm meal and a welcoming connection to families spending time away from home.
“On Veterans Day and every day, we have a responsibility to honor the service and sacrifice of our nation’s Veterans and the families who stand beside them,” said Admiral Thomas Lynch, Executive Chairman of NewDay USA. “Supporting Fisher House is a meaningful way to put that gratitude into action. Whether we are helping build this new house or serving dinner to the families staying there, our message is the same: your service is remembered, and you are not alone.”
About NewDay USA
A leader in Veteran mortgage lending for more than 25 years, NewDay USA has proudly served more than 100,000 Veteran families nationwide. From buying a new home to refinancing, NewDay’s goal is to ensure Veteran families improve their credit and get back on the road to savings to live the lives they always imagined and deserve.
NewDay has an industry-leading Government National Mortgage Association (GNMA) record of loan performance with a delinquency rate that is two times lower than the industry average. Today, 95 percent of NewDay USA’s clients are enlisted Veterans. For additional information, visit www.newdayusa.com.
View original content:https://www.prnewswire.com/news-releases/newday-usa-honors-veterans-day-with-1-million-donation-to-support-new-fisher-house-in-west-palm-beach-302936159.html
SOURCE NewDay USA
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NewDay USA Honors Veterans Day with $1 Million Donation to Support New Fisher House in West Palm Beach
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