Technology
IAS Reports Fourth Quarter and Full Year 2023 Financial Results
Published
3 years agoon
By
Fourth quarter revenue increased 14% to $134.3 million
Fourth quarter net income of $10.2 million at an 8% margin; fourth quarter adjusted EBITDA increased 19% to $47.5 million at a 35% margin
NEW YORK, Feb. 27, 2024 /PRNewswire/ — Integral Ad Science Holding Corp. (Nasdaq: IAS), a leading global media measurement and optimization platform, today announced financial results for the fourth quarter and full year ended December 31, 2023.
“We ended 2023 with strong fourth quarter performance across optimization and measurement with revenue growth of 16% and 18%, respectively,” said Lisa Utzschneider, CEO of IAS. “Social media revenue increased 37% in the fourth quarter as marketers trusted IAS to maximize their advertising spend globally, particularly in short-form video. In 2024, we will continue to invest in data science and innovate with AI to empower marketers with actionable data to drive superior results. We expect to deliver double-digit revenue growth for the full year.”
Fourth Quarter 2023 Financial Highlights
Total revenue was $134.3 million, a 14% increase compared to $117.4 million in the prior-year period.Optimization revenue was $63.6 million, a 16% increase compared to $55.1 million in the prior-year period.Measurement revenue was $52.6 million, an 18% increase compared to $44.7 million in the prior-year period.Publisher revenue was $18.1 million, a 2% increase compared to $17.6 million in the prior-year period.International revenue, excluding the Americas, was $43.3 million, a 16% increase compared to $37.3 million in the prior-year period, or 32% of total revenue for the fourth quarter of 2023.Gross profit was $106.0 million, an 11% increase compared to $95.5 million in the prior-year period. Gross profit margin was 79% for the fourth quarter of 2023.Net income was $10.2 million, or $0.06 per basic and diluted share, compared to $11.5 million, or $0.07 per basic and diluted share, in the prior-year-period. Net income margin was 8% for the fourth quarter of 2023.Adjusted EBITDA* was $47.5 million, a 19% increase compared to $40.0 million in the prior-year period. Adjusted EBITDA* margin was 35% for the fourth quarter of 2023.
Full Year 2023 Financial Highlights
Total revenue was $474.4 million, a 16% increase compared to $408.3 million in the prior year.Optimization revenue was $224.5 million, an 18% increase compared to $190.6 million in the prior year.Measurement revenue was $186.0 million, a 20% increase compared to $154.9 million in the prior year.Publisher revenue was $63.8 million, a 2% increase compared to $62.8 million in the prior year.International revenue, excluding the Americas, was $146.8 million, a 14% increase compared to $129.1 million in the prior year, or 31% of total revenue for the full year 2023.Gross profit was $375.0 million, a 13% increase compared to $332.6 million in the prior year. Gross profit margin was 79% for the full year 2023.Net income was $7.2 million, or $0.04 per diluted share, compared to $15.4 million, or $0.10 per basic and diluted share, in the prior year. Net income margin was 2% for the full year 2023.Adjusted EBITDA* was $159.5 million, a 26% increase compared to $126.6 million in the prior year. Adjusted EBITDA* margin was 34% for the full year 2023.Cash and cash equivalents were $124.8 million at December 31, 2023.
Recent Business Highlights
Meta Expansion – In February, IAS announced the availability of its AI-driven Total Media Quality (TMQ) brand safety and suitability measurement product across Facebook and Instagram Feed and Reels. IAS’s new post-bid brand safety and suitability expansion with Meta gives advertisers increased transparency into whether their campaigns are appearing next to safe and suitable content.IAS MRC Continuing Accreditation for Measurement of Meta Platforms – In January, IAS received continuing accreditation from the MRC for viewability measurement of Meta, including impressions and two-second video viewability, on Facebook Feed and Instagram Feed and Stories.YouTube TMQ Expansion – During the fourth quarter, IAS expanded its partnership to YouTube Shorts to offer its brand safety and suitability measurement product to advertisers for YouTube Shorts inventory, as part of its existing Total Media Quality for YouTube product suite.X Expansion – In February, IAS expanded its partnership with X to all U.S. advertisers. IAS classifies all vertical video ad adjacencies for brand safety and suitability aligned to the GARM framework, giving advertisers maximum control over where their ads appear on the X vertical video feed.Quality Attention Expansion – In January, IAS announced the general availability of its Quality Attention measurement product. Quality Attention uses advanced machine learning technology, actionable data from Lumen Research’s eye-tracking technology, and a variety of signals obtained as part of IAS’s core technology.
Financial Outlook
“We reported profitable growth in the fourth quarter with a 14% revenue increase at a 35% adjusted EBITDA* margin,” said Tania Secor, CFO of IAS. “As we move through 2024, we expect to ramp both revenue growth and profitability from forecasted first quarter levels as we expand availability and customer adoption of new products. We also plan to maintain our strong financial profile and healthy balance sheet.”
IAS is introducing the following financial outlook for the first quarter and full year 2024:
First Quarter Ending March 31, 2024:
Total revenue of $111 million to $113 millionAdjusted EBITDA* of $28 million to $30 million
Year Ending December 31, 2024:
Total revenue of $530 million to $540 millionAdjusted EBITDA* of $171 million to $179 million
* See “Supplemental Disclosure Regarding Non-GAAP Financial Information” section herein for an explanation of Non-GAAP measures. IAS is unable to provide a reconciliation for forward-looking guidance of Adjusted EBITDA to net income (loss), the most closely comparable GAAP measure, because certain material reconciling items, such as depreciation and amortization, interest expense, income tax expense (benefit), restructuring and severance costs, and acquisition and integration costs, cannot be estimated due to factors outside of IAS’s control and could have a material impact on the reported results. However, IAS estimates stock-based compensation expense for the first quarter of 2024 in the range of $14 million to $16 million and for the full year 2024 in the range of $72 million to $76 million. A reconciliation is not available without unreasonable effort.
INTEGRAL AD SCIENCE HOLDING CORP.
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE DATA)
December 31, 2023
December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents
$ 124,759
$ 86,877
Restricted cash
54
45
Accounts receivable, net
74,609
67,884
Unbilled receivables
46,548
41,550
Prepaid expenses and other current assets
18,959
24,761
Due from related party
—
29
Total current assets
264,929
221,146
Property and equipment, net
3,769
2,412
Internal use software, net
40,301
23,642
Intangible assets, net
178,908
217,558
Goodwill
675,282
674,094
Operating lease right-of-use assets, net
21,668
22,787
Deferred tax asset, net
2,465
2,020
Other long-term assets
4,402
5,024
Total assets
$ 1,191,724
$ 1,168,683
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses
$ 72,232
$ 60,799
Operating lease liabilities, current
9,435
6,749
Due to related party
121
122
Deferred revenue
682
99
Total current liabilities
82,470
67,769
Deferred tax liability, net
20,367
45,495
Long-term debt
153,725
223,262
Operating lease liabilities, non-current
19,523
22,875
Other long-term liabilities
6,183
1,066
Total liabilities
282,268
360,467
Commitments and Contingencies
Stockholders’ Equity
Preferred Stock, $0.001 par value, 50,000,000 shares authorized at December 31, 2023; 0
shares issued and outstanding at December 31, 2023 and 2022
—
—
Common Stock, $0.001 par value, 500,000,000 shares authorized at December 31, 2023,
158,757,620 and 153,990,128 shares issued and outstanding at December 31, 2023 and
2022, respectively
159
154
Additional paid-in-capital
901,259
810,186
Accumulated other comprehensive loss
(916)
(2,899)
Accumulated earnings
8,954
775
Total stockholders’ equity
909,456
808,216
Total liabilities and stockholders’ equity
$ 1,191,724
$ 1,168,683
INTEGRAL AD SCIENCE HOLDING CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(UNAUDITED)
Three months ended December 31,
Year ended December 31,
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
2023
2022
2023
2022
Revenue
$ 134,295
$ 117,435
$ 474,369
$ 408,348
Operating expenses:
Cost of revenue (excluding depreciation and amortization shown below)
28,252
21,891
99,352
75,755
Sales and marketing
30,423
28,325
117,989
106,286
Technology and development
19,056
22,280
72,906
76,351
General and administrative
25,961
23,572
111,634
79,654
Depreciation and amortization
14,593
12,811
54,966
50,396
Foreign exchange (gain) loss, net
(501)
1,246
430
4,749
Total operating expenses
117,784
110,125
457,277
393,191
Operating income
16,511
7,310
17,092
15,157
Interest expense, net
(2,489)
(3,194)
(12,236)
(9,053)
Employee retention tax credit
—
—
—
6,981
Net income before income taxes
14,022
4,116
4,856
13,085
(Provision) benefit from income taxes
(3,858)
7,371
2,382
2,288
Net income
$ 10,164
$ 11,487
$ 7,238
$ 15,373
Net income per share:
Basic
$ 0.06
$ 0.07
$ 0.05
$ 0.10
Diluted
$ 0.06
$ 0.07
$ 0.04
$ 0.10
Weighted average shares outstanding:
Basic
158,243,619
153,792,438
156,272,335
154,699,694
Diluted
163,060,805
155,288,725
161,723,131
157,258,083
Other comprehensive income:
Foreign currency translation adjustments
2,772
8,634
1,983
(2,584)
Total comprehensive income
$ 12,936
$ 20,121
$ 9,221
$ 12,789
INTEGRAL AD SCIENCE HOLDING CORP.
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’/MEMBERS’ EQUITY
Members’ Interest
Common Stock
(IN THOUSANDS, EXCEPT UNITS
AND SHARES DATA)
Units
Amount
Shares
Amount
Additional
paid-in
capital
Accumulated
other
comprehensive
income (loss)
Accumulated
earnings
(deficit)
Total members’/
stockholders’
equity
Balances at January 1, 2021
134,039,494
$ 553,717
—
$ —
$ —
$ 4,523
$ (126,761)
$ 431,479
Repurchase of units
(99,946)
(413)
—
—
—
—
(791)
(1,204)
Units vested
17,486
—
—
—
—
—
—
—
Option exercises
246,369
1,075
—
—
3,360
—
—
4,435
Foreign currency translation
adjustment
—
—
—
—
—
(4,838)
—
(4,838)
Net loss prior to corporate conversion
—
—
—
—
—
—
(37,832)
(37,832)
Conversion to Delaware corporation
(134,203,403)
(554,379)
134,203,403
134
388,860
—
165,385
—
Rounding units/shares as a result of
corporate conversion
—
—
(17)
—
—
—
—
—
Stock-based compensation
—
—
—
—
55,222
—
—
55,222
RSUs vested
—
—
26,931
—
150
—
—
150
Issuance of common stock in
connection with initial public offering
—
—
16,821,330
17
274,340
—
—
274,357
Issuance of common stock for Publica
acquisition
—
—
2,888,889
3
49,628
—
—
49,631
Issuance of common stock for Context
acquisition
—
—
457,959
—
10,391
—
—
10,391
Net loss
—
—
—
—
—
—
(14,600)
(14,600)
Balances at December 31, 2021
—
$ —
154,398,495
$ 154
$ 781,951
$ (315)
$ (14,600)
$ 767,190
RSUs vested
—
—
1,084,966
1
—
—
—
1
Option exercises
—
—
1,586,728
2
7,153
—
—
7,155
Stock-based compensation
—
—
—
—
44,733
—
—
44,733
Foreign currency translation
adjustment
—
—
—
—
—
(2,584)
—
(2,584)
Repurchase of common stock
—
—
(3,080,061)
(3)
(23,652)
—
—
(23,655)
Net income
—
—
—
—
—
—
15,373
15,373
Balances at December 31, 2022
—
$ —
153,990,128
$ 154
$ 810,186
$ (2,899)
$ 775
$ 808,216
RSUs and MSUs vested
—
—
3,492,130
4
—
—
—
4
Option exercises
—
—
1,001,793
1
7,988
—
—
7,989
ESPP purchase
—
—
273,569
—
2,306
—
—
2,306
Stock-based compensation
—
—
—
—
80,779
—
—
80,779
Foreign currency translation adjustment
—
—
—
—
—
1,983
—
1,983
Adoption of ASC 326, net of tax
—
—
—
—
—
—
941
941
Net income
—
—
—
—
—
—
7,238
7,238
Balances at December 31, 2023
—
$ —
158,757,620
$ 159
$ 901,259
$ (916)
$ 8,954
$ 909,456
INTEGRAL AD SCIENCE HOLDING CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year ended December 31,
(IN THOUSANDS)
2023
2022
Cash flows from operating activities:
Net income
$ 7,238
$ 15,373
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
54,966
50,396
Stock-based compensation
81,103
44,752
Foreign exchange (gain) loss, net
(484)
5,233
Deferred tax benefit
(21,531)
(8,880)
Amortization of debt issuance costs
463
464
Allowance for credit losses
3,816
1,837
Employee retention tax credit
—
(6,981)
Impairment of assets
33
974
Changes in operating assets and liabilities:
Increase in accounts receivable
(8,148)
(18,581)
Increase in unbilled receivables
(4,685)
(5,830)
Decrease (increase) in prepaid expenses and other current assets
6,418
(10,641)
Increase in operating leases, net
(29)
(852)
Decrease (increase) in other long-term assets
375
(1,057)
Increase in accounts payable and accrued expenses and other long-term liabilities
11,478
6,286
Increase (decrease) in deferred revenue
582
(88)
Increase in due to/from related party
28
62
Net cash provided by operating activities
131,623
72,467
Cash flows from investing activities:
Payment for acquisitions, net of acquired cash
(966)
(1,603)
Purchase of property and equipment
(1,975)
(2,016)
Acquisition and development of internal use software and other
(31,777)
(14,673)
Net cash used in investing activities
(34,718)
(18,292)
Cash flows from financing activities:
Repayment of long-term debt
(145,000)
(35,000)
Repayment of short-term debt
—
(1,816)
Proceeds from the Revolver
75,000
15,000
Proceeds from exercise of stock options
7,989
7,155
Payments for repurchase of common stock
—
(23,655)
Cash received from Employee Stock Purchase Program (ESPP)
3,160
845
Net cash used in financing activities
(58,851)
(37,471)
Net increase in cash, cash equivalents, and restricted cash
38,054
16,704
Effect of exchange rate changes on cash and cash equivalents, and restricted cash
(435)
(3,111)
Cash, cash equivalents, and restricted cash, at beginning of year
89,671
76,078
Cash, cash equivalents, and restricted cash, at end of year
$ 127,290
$ 89,671
Supplemental Disclosures:
Cash paid during the year for:
Interest
$ 11,229
$ 8,511
Taxes
$ 10,985
$ 16,396
Non-cash investing and financing activities:
Property and equipment acquired included in accounts payable
$ 431
$ 97
Internal use software acquired included in accounts payable
$ 1,444
$ 1,517
Lease liabilities arising from right of use assets
$ 6,282
$ 29,624
Supplemental Disclosure Regarding Non-GAAP Financial Information
We use supplemental measures of our performance, which are derived from our consolidated financial information, but which are not presented in our consolidated financial statements prepared in accordance with GAAP. Adjusted EBITDA is the primary financial performance measure used by management to evaluate our business and monitor ongoing results of operations. Adjusted EBITDA is defined as income/loss before depreciation and amortization, stock-based compensation, interest expense, income taxes, restructuring and severance costs, acquisition and integration costs, foreign exchange gains and losses, and other one-time, non-recurring costs. Adjusted EBITDA margin represents the adjusted EBITDA for the applicable period divided by the revenue for that period presented in accordance with GAAP.
We use non-GAAP financial measures to supplement financial information presented on a GAAP basis. We believe that excluding certain items from our GAAP results allows management to better understand our consolidated financial performance from period to period and better project our future consolidated financial performance as forecasts are developed at a level of detail different from that used to prepare GAAP-based financial measures. Moreover, we believe these non-GAAP financial measures provide our shareholders with useful information to help them evaluate our operating results by facilitating an enhanced understanding of our operating performance and enabling them to make more meaningful period-to-period comparisons. Although we believe these measures are useful to investors and analysts for the same reasons they are useful to management, these measures are not a substitute for, or superior to, U.S. GAAP financial measures or disclosures. Our non-GAAP financial measures may not be comparable to similarly titled measures of other companies. Other companies, including companies in our industry, may calculate non-GAAP financial measures differently than we do, limiting the usefulness of those measures for comparative purposes.
Reconciliation of historical Adjusted EBITDA and corresponding margin to their most directly comparable GAAP financial measures, net income/loss and corresponding margin are presented below. We encourage you to review the reconciliations in conjunction with the presentation of the non-GAAP financial measures for each of the periods presented. In future fiscal periods, we may exclude such items and may incur income and expenses similar to these excluded items.
Reconciliation of Adjusted EBITDA
Three months ended December 31,
Year ended December 31,
(in thousands, except percentages)
2023
2022
2023
2022
Net income
$ 10,164
$ 11,487
$ 7,238
$ 15,373
Depreciation and amortization
14,593
12,811
54,966
50,396
Stock-based compensation
15,462
11,645
81,103
44,752
Interest expense, net
2,489
3,194
12,236
9,053
Provision (benefit) from income taxes
3,858
(7,371)
(2,382)
(2,288)
Restructuring and severance costs
1,054
5,904
4,028
10,321
Acquisition and integration costs
—
118
—
97
Foreign exchange (gain) loss, net
(501)
1,246
430
4,798
Employee retention tax credit
—
—
—
(6,981)
Offering costs, impairments and other costs
396
1,003
1,913
1,058
Adjusted EBITDA
$ 47,515
$ 40,037
$ 159,532
$ 126,579
Revenue
$ 134,295
$ 117,435
$ 474,369
$ 408,348
Net income margin
8 %
10 %
2 %
4 %
Adjusted EBITDA margin
35 %
34 %
34 %
31 %
Stock-Based Compensation
Three months ended December 31,
Year ended December 31,
(in thousands)
2023
2022
2023
2022
Cost of revenue
$ 124
$ 249
$ 452
$ 507
Sales and marketing
5,512
2,871
23,371
13,520
Technology and development
4,104
2,958
17,538
9,937
General and administrative
5,722
5,567
39,742
20,788
Total stock-based compensation
$ 15,462
$ 11,645
$ 81,103
$ 44,752
Conference Call and Webcast Information
IAS will host a conference call and live webcast to discuss its fourth quarter and full year 2023 financial results today at 5:00 p.m. ET. To access the live webcast and conference call dial-in, please register under the “News & Events” section of IAS’s investor relations website. A replay will be available on IAS’s investor relations website following the live call: https://investors.integralads.com.
About Integral Ad Science
Integral Ad Science (IAS) is a leading global media measurement and optimization platform that delivers the industry’s most actionable data to drive superior results for the world’s largest advertisers, publishers, and media platforms. IAS’s software provides comprehensive and enriched data that ensures ads are seen by real people in safe and suitable environments, while improving return on ad spend for advertisers and yield for publishers. Our mission is to be the global benchmark for trust, safety, and transparency in digital media quality. For more information, visit integralads.com.
Forward-Looking Statements
This earnings press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. For example, all statements we make relating to our estimated and projected costs, expenditures, cash flows, growth rates and financial results or our plans and objectives for future operations, growth initiatives or strategies are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: (i) the adverse effect on our business, operating results, financial condition, and prospects from various macroeconomic factors, including instability in geopolitical or market conditions; (ii) our failure to innovate or make the right investment decisions; (iii) our ability to provide digital or cross-platform analytics; (iv) our failure to maintain or achieve industry accreditation standards; (v) our dependence on integrations with advertising platforms, demand side providers (“DSPs”) and proprietary platforms that we do not control; (vi) our ability to compete successfully with our current or future competitors in an intensely competitive market; (vii) our inability to use software licensed from third parties; (viii) our international expansion; (ix) our ability to expand into new channels; (x) our ability to sustain our profitability and revenue growth rate; (xi) risks that our customers do not pay or choose to dispute their invoices; (xii) risks of material changes to revenue share agreements with certain DSPs; (xiii) our dependence on the overall demand for advertising; (xiv) our ability to effectively manage our growth; (xv) the impact that any acquisitions we have completed in the past and may consummate in the future, strategic investments, or alliances may have on our business, financial condition, and results of operations; (xvi) our ability to successfully execute our international plans; (xvii) the risks associated with the seasonality of our market; (xviii) our ability to maintain high impression volumes; (xix) the difficulty in evaluating our future prospects given our short operating history; (xx) uncertainty in how the market for buying digital advertising verification solutions will evolve; (xxi) interruption by man-made problems such as terrorism, computer viruses, or social disruptions; (xxii) the risk of failures in the systems and infrastructure supporting our solutions and operations; (xxiii) our ability to avoid operational, technical, and performance issues with our platform; (xxiv) risks associated with any unauthorized access to user, customer, or inventory and third-party provider data; (xxv) our ability to provide the non-proprietary technology, software, products, and services that we use; (xxvi) the risk that we are sued by third parties for alleged infringement, misappropriation, or other violation of their proprietary rights; (xxvii) our ability to obtain, maintain, protect, or enforce intellectual property and proprietary rights that are important to our business; (xxviii) our involvement in lawsuits to protect or enforce our intellectual property; (xxix) risks that our employees, consultants, or advisors have wrongfully used or disclosed alleged trade secrets of their current or former employers; (xxx) risks that our trademarks and trade names are not adequately protected; (xxxi) the impact of unforeseen changes to privacy and data protection laws and regulation on digital advertising; (xxxii) our ability to maintain our corporate culture; (xxxiii) public health outbreaks, epidemics, pandemics, or other public health crises; (xxxiv) risks posed by earthquakes, fires, floods, and other natural catastrophic events; (xxxv) the risk that a perceived failure to comply with laws and industry self-regulation may damage our reputation; and (xxxvi) other factors disclosed in our filings with the SEC. Given these factors, as well as other variables that may affect our operating results, you should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, or use historical trends to anticipate results or trends in future periods.
We derive many of our forward-looking statements from our operating budgets and forecasts, which are based on many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to update or revise any forward- looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
Investor Contact:
Jonathan Schaffer / Lauren Hartman
ir@integralads.com
Media Contact:
press@integralads.com
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SOURCE Integral Ad Science, Inc.
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“Officers shouldn’t have to choose between getting information and watching the scene. With Axon Body 5, they don’t,” said Rick Smith, Axon Founder and CEO. “They capture a license or document with the camera, keep their hands free and eyes up, and get information faster than writing it down and calling it in by radio. An officer fully engaged with the person in front of them, not down at a notepad, is a safer officer and a better-served community.”
Axon Body 5: Built for the AI Era
Built from the ground up for the AI era, Axon Body 5 delivers 25x the AI processing power than earlier generation Axon body cameras, alongside advancements in connectivity, audio, video and battery life. Together, these upgrades give the camera the physical power to run smarter AI features — both today and as new AI tools are developed in the future — while also making it more dependable for officers to use every day.
For the first time, Axon is also introducing two versions of its latest flagship camera: Axon Body 5 and Axon Body 5 Pro.
Both models feature several key advancements, including:
25x more processing power for AI: A powerful new computing architecture creates the capacity to support current and future AI features directly on the body camera.Enhanced video: Improved video captures clearer evidence across challenging environments, including better low-light performance.Improved connectivity: Seamless connectivity in urban and remote environments – and more precise location capability – helps officers, cameras and remote support teams stay connected when timely information matters most.Longer battery life: 20% more battery life than the previous generation helps keep the camera ready and connected throughout an officer’s shift.
The Axon Body 5 Pro will continue to gain new AI capabilities as they become available, growing along with the AI Era Plan. Additionally, new hardware features include:
A near-focus camera: An additional dedicated camera lens lets officers scan driver’s licenses to check status and search for wants or warrants in seconds, without returning to the patrol vehicle, with relevant information sent to Axon Fusus to support real-time operations.Front-facing speakers: Four additional speakers project even more powerful audio toward the person an officer is speaking with, helping real-time translations from Axon Assistant carry more clearly over heavy traffic or crowd noise. Additional memory: Extra space lets the camera run several AI tools at once, helping officers stay better informed and work faster.
Bringing More of Axon’s AI Era Into the Field
Axon Body 5 helps officers get more out of the Axon AI Era Plan by bringing smart tools right to the scene. Axon’s portfolio already supports public safety professionals across a growing range of tasks. For example, Draft One helps officers turn body-camera audio into high-quality report drafts and Axon Assistant provides voice-based information access and real-time translation.
Increasingly, Axon is also bringing AI into real-time operations.
Axon Guardian is a new category of AI features within the AI Era Plan that was specifically created to work with an officer’s field-based devices – starting with body cameras and in-car cameras – to improve safety. Guardian is designed to flag potential risks as situations unfold and create alerts when additional attention may be needed. Two of the first features include:
Escalation Detection: When an Axon Body 4 or Axon Body 5 camera is activated and recording, Guardian has the ability to detect potential conflicts in real time and create an alert in Axon Fusus. A human reviews the livestream and decides if additional support or action is needed.Approach Alert: When active on Axon Fleet 3, Guardian can detect if the door of a stopped vehicle opens and alert the officer through the in-car display and their body-worn camera.
Combined, Axon Body 5 and the expanding AI Era portfolio demonstrate the importance of AI as a critical resource to assist public safety professionals before, during and after an incident — reducing administrative burden, improving situational awareness and helping protect more lives.
Innovating Responsibly
Axon’s Responsible Innovation framework guides the development of all of its products. Designed with this in mind, Axon Body 5 and Guardian prioritize human oversight and maintain agency control over data. As a key part of the responsible innovation process, Axon’s independent Ethics and Equity Advisory Council was created to help responsibly develop and deploy new technologies with transparency, while aligning with community expectations.
General availability dates for Axon Body 5 and Axon Guardian will be announced soon. Product features and capabilities vary by configuration. For more information on Axon’s current products and services: Axon Product Catalog – Axon.com.
About Axon
Axon (Nasdaq: AXON) is the global leader in public safety technology supporting state, local, federal and international public safety agencies with technology designed to Protect Life. Complementing its mission, Axon’s growing Enterprise market focuses on protecting critical infrastructure and frontline workers across multiple industries including corporate security, hospitality, retail and healthcare. Founder-led since 1993, Axon builds products with transparency and responsibility. From TASER energy devices to today’s connected network of hardware – including cameras, drones, and robotics – cloud software, sensors, and AI-tools, the Axon ecosystem helps seamlessly protect people and places when it matters most. To ensure these technologies align with community expectations, Axon’s independent Ethics & Equity Advisory Council guides the ethical, inclusive, and accountable design of its products and services. Learn more about the EEAC and Axon’s Responsible Innovation framework at Axon Responsibility.
Non-Axon trademarks are the property of their respective owners. Axon, TASER and the Delta Logo are trademarks of Axon Enterprise, Inc., some of which are registered in the US and other countries. For more information, visit www.axon.com/legal. All rights reserved.
Please visit https://investor.axon.com and https://www.axon.com/newsroom for more information.
Media Contact:
Kate MacKinnon
Vice President, Communications
press@axon.com
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SOURCE Axon
Technology
In HelloNation, Custom Fabrication Expert Mark Coyle Explains a Common Mistake in Custom Aluminum Design
Published
5 hours agoon
October 24, 2026By
The article explains why smart geometry, not thicker walls, creates stronger, more efficient aluminum components.
ROCHESTER, N.Y., Oct. 24, 2026 /PRNewswire/ — What early design choice causes many custom aluminum projects to become heavier, costlier, or harder to manufacture? That question is addressed in a HelloNation article featuring insights from Custom Fabrication Expert Mark Coyle of American Custom Metals, Inc. in Rochester, New York, that outlines how misunderstanding aluminum behavior leads designers to rely on thick walls instead of stronger geometry.
The article begins by explaining that many people assume thicker walls automatically make aluminum parts stronger. It notes that aluminum does not respond to wall thickness the way steel does. Instead, its performance is shaped by how the metal flows through the extrusion die. The article states that custom aluminum design is more effective when profiles use ribs, chambers, and flanges to create stiffness without adding unnecessary weight. This guidance helps readers understand why adding material often increases cost without improving strength.
The article also highlights that thicker walls change how aluminum moves during extrusion. When heavy areas fill more slowly, the metal cools unevenly and can develop stress that only appears later. The HelloNation piece explains that well-balanced geometry keeps extrusion smooth and predictable. This consistency makes it easier to maintain dimensional accuracy across long production runs. By focusing on geometry, custom aluminum design avoids the problems that come with slow extrusion speeds and uneven cooling.
Another insight in the article centers on how ribs and internal supports influence stability. It describes how a thin wall supported by a properly placed rib often performs better than a thick wall with no reinforcement. This happens because the rib helps distribute load, improve stiffness, and guide the aluminum as it cools. The article explains that this structural approach makes custom aluminum design more efficient and gives designers more control over how the final part behaves under pressure.
The article also shows why early collaboration between designer and fabricator prevents costly changes. It states that a fabricator familiar with extrusion can catch potential issues before a die is built. Small adjustments to corners or transitions can remove weak points or improve metal flow. The article notes that this teamwork keeps the design aligned with real-world production. By working together early, both sides reduce the risk of redesigning the die after the first test run.
Machining is another area where the article explains how wall thickness affects performance. Features such as deep pockets or sharp internal angles may require slow feed rates or special tooling. When walls are thicker than needed, those areas can become difficult to machine cleanly. The article states that thoughtful custom aluminum design makes machining more predictable. Small changes, such as adding radiused edges or sizing features to match standard tools, help shorten cycle times and prevent tool wear.
Thermal behavior receives detailed attention as well. The article explains that aluminum retains heat differently depending on the mass of each section. Thicker walls hold heat longer, which increases the chance of distortion during extrusion, machining, or finishing. When a design uses geometry to create strength, the material cools more evenly. This reduces warping and helps long profiles stay aligned. The article notes that stable cooling is important for components that require a precise fit and consistent shape throughout an entire production run.
Cost is also a key topic in the article. It states that heavier profiles increase material use, extrusion time, and tooling needs. A custom aluminum design that relies on geometry instead of mass lowers material consumption and keeps the fabrication process efficient. The article explains that lighter parts are easier to handle, ship, and assemble. This saves money across multiple stages of production and supports long-term manufacturing efficiency.
The article also notes that smart custom aluminum design creates profiles that behave predictably during extrusion and machining. Smooth transitions, balanced wall dimensions, and structural features help reduce the chance of distortion or dimensional drift. These elements also lower scrap rates and support reliable performance. By using geometry instead of excess material, designers build parts that maintain strength without compromising manufacturability.
As the article concludes, it emphasizes that avoiding thick walls is one of the best ways to improve performance and lower cost. It states that the most dependable custom aluminum components come from designs that use structural features to strengthen the profile. When designers understand how aluminum behaves at each stage of extrusion and machining, they create parts that are strong, efficient, and consistent from batch to batch. This approach turns custom aluminum design into a predictable process rather than a series of uncertain adjustments.
A Common Mistake in Custom Aluminum Design features insights from Mark Coyle, Custom Fabrication Expert of Rochester, NY, in HelloNation.
About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.
View original content to download multimedia:https://www.prnewswire.com/news-releases/in-hellonation-custom-fabrication-expert-mark-coyle-explains-a-common-mistake-in-custom-aluminum-design-302918282.html
SOURCE HelloNation
Technology
World Young Scientist Summit 2026 Opens in Wenzhou, Zhejiang
Published
6 hours agoon
October 24, 2026By
WENZHOU, China, Oct. 24, 2026 /PRNewswire/ — This is a report by China Daily:
On October 24, the World Young Scientist Summit 2026 opened in Wenzhou, Zhejiang. The event is hosted by the China Association for Science and Technology (CAST), the Zhejiang Provincial People’s Government, and the World Association of Young Scientists. Nearly 800 representatives, including scientists, educators, and entrepreneurs from more than 60 countries and regions, are attending the summit.
He Junke, Vice President of CAST in charge of daily work and First Secretary of its Secretariat; Lian Yimin, Chairman and Party Group Secretary of the Zhejiang Provincial Committee of the Chinese People’s Political Consultative Conference; Marcelo Knobel, Executive Director of The World Academy of Sciences; and Zhang Zhenfeng, Member of the Standing Committee of the CPC Zhejiang Provincial Committee and Secretary of the CPC Wenzhou Municipal Committee, attended the summit and delivered remarks. Yao Gaoyuan, Vice Governor of the Zhejiang Provincial People’s Government, presided over the first segment of the plenary session.
With the theme “Gathering Talents Worldwide to Create a Better Future,” the summit’s annual agenda is “Global Youth Action in the AI Era: Building a Sustainable Future.” It aims to draw on the insights of young people around the world, deepen international sci-tech cooperation, and jointly address questions about young people, science, the world and the future.
Efim Zelmanov, Fields Medalist and Foreign Member of the Chinese Academy of Sciences; Chen Yunji, Deputy Director of the Institute of Computing Technology, CAS, and Director of the National Key Laboratory of Processor Chips; Mary Garson, President of the International Union of Pure and Applied Chemistry; and Lu Chaoyang, Member of the Standing Committee of CAST, Executive Dean of the Shanghai Institute of Advanced Study, University of Science and Technology of China, and Chairman of the Council of the World Association of Young Scientists, delivered keynote speeches respectively on education reform in the AI era, AI and processor chips, young women scientists’ participation in science, and quantum computing. They explored new opportunities for scientific research, talent cultivation, and international cooperation in the AI era.
This year’s summit placed greater emphasis on the growth needs of young scientists, with young talents under the age of 45 accounting for 88 percent of participants. It aimed to build a cluster of international journals, bring together young scientific talent, facilitate a batch of international collaborative projects and advance the application and commercialization of scientific and technological achievements. The summit released the Report on the Distribution and Mobility of Young Scientists in the Field of Embodied Intelligence, launched the World Young Scientist Summit Partner Journal Program and the 2026 World Young Scientist Innovation and Entrepreneurship Growth Support Program. It also published the “Young Scientist Pioneers 2035” list and announced the 2026 Sustainable Development Young Scientist Award. The awards were presented to four Chinese and foreign scientists.
Chen Tianrun, Founder of Hangzhou Moxin Technology Co., Ltd.; Yuan Yang, Assistant to the Dean of the Institute for Interdisciplinary Information Sciences at Tsinghua University; and two of the 2026 Sustainable Development Young Scientist Award winners, César de la Fuente and Nicola Segata, among other Chinese and foreign young scientist representatives, spoke at the flash-talk session to share their research practices and reflections.
In addition, the conference focused on fields such as future manufacturing, quantum information, embodied intelligence, brain-computer intelligence, environmental science, deep-sea resources, and life and health, and held 12 parallel forums. It also included the “Gravitation π” Future Technology and Concept Products Exhibition and Exchange, local thematic side events, and sci-tech and humanities study visits, further building an interdisciplinary, cross-regional and cross-sector platform for youth sci-tech exchange and cooperation.
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SOURCE China Daily
Axon Announces Body 5: Next-Generation Camera Built for the AI Era
In HelloNation, Custom Fabrication Expert Mark Coyle Explains a Common Mistake in Custom Aluminum Design
World Young Scientist Summit 2026 Opens in Wenzhou, Zhejiang
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