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DouYu International Holdings Limited Reports First Quarter 2024 Unaudited Financial Results

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WUHAN, China, June 5, 2024 /PRNewswire/ — DouYu International Holdings Limited (“DouYu” or the “Company”) (Nasdaq: DOYU), a leading game-centric live streaming platform in China and a pioneer in the eSports value chain, today announced its unaudited financial results for the first quarter ended March 31, 2024.

First Quarter 2024 Financial and Operational Highlights

Total net revenues in the first quarter of 2024 were RMB1,039.7million (US$144.0 million), compared with RMB1,483.1 million in the same period of 2023.Gross profit in the first quarter of 2024 was RMB109.0 million (US$15.1million), compared with RMB176.5 million in the same period of 2023.Net loss in the first quarter of 2024 was RMB88.0 million (US$12.2 million), compared with net income of RMB14.5 million in the same period of 2023.Adjusted net loss[1] in the first quarter of 2024 was RMB 85.7 million (US$11.9 million), compared with adjusted net income of RMB25.8 million in the same period of 2023.Average mobile MAUs[2] in the first quarter of 2024 were 45.3 million, compared with 50.2 million in the same period of 2023.The number of quarterly average paying users[3] in the first quarter of 2024 was 3.4 million, compared with 4.5 million in the same period of 2023.

The interim management committee of DouYu commented, “In the first quarter of 2024, we continued to work on the diversification of our commercialization capabilities and streamlined operations by optimizing our organizational structure and fine-tuning operating strategies. Our priority is elevating user experience and meeting our core users’ needs with a steady stream of premium content. We are doing this by harnessing the power of our streamer resources and content ecosystem and actively exploring cooperation opportunities with more game developers to enrich our gaming service lineup. However, we continue to face macroeconomic headwinds and challenging industry dynamics, and remain dedicated to protecting our shareholders’ long-term interests by executing our long-term strategy for developing a vibrant, diverse, game-centric content ecosystem. We consistently maximize the competitive edges of our extensive gaming ecosystem, agile operational mechanisms and close cooperation with game developers to propel our platform’s long-term, sustainable growth.”

Mr. Hao Cao, Vice President of DouYu, commented, “We reinforced our streamlined operations, ensuring the financial health of our business. While we shore up our fundamentals, we continue to face revenue pressures from soft macroeconomic conditions and ongoing adjustments to the livestreaming business, as well as operating uncertainties. In the first quarter of 2024, we made encouraging developments across our commercial diversification initiatives that improved our revenue mix. Revenue from advertising and others amounted to RMB 238.8 million, contributing 23.0% of our total revenue, a significant increase from 7.7% in the same period of 2023. Moving forward, we will increase our efforts to diversify our revenue streams and strengthen our solid foundation to drive the Company’s healthy growth and deliver enduring value to our shareholders.”

In connection with investigations by relevant government authorities against certain third-party streamers for their historical illegal activities, the Company voluntarily returned RMB111.7 million of gain that was related to these streamers’ historical illegal activities to the relevant government authorities (the “Voluntary Return”) this week. Pursuant to PRC law, the Company is not entitled to retain gains related to streamers’ illegal activities. As a result, the Company elected to make the Voluntary Return, which has been recorded as an operating expense. The Voluntary Return has no material impact on our business operations and we continue to maintain normal business operations. The Company is not the target of any legal proceedings or investigations in connection with the historical illegal activities of these third-party streamers. There remain uncertainties regarding future developments or regulatory investigations into streamers’ historical illegal activities. The Company will continue to fully cooperate with authorities and remains committed to upholding regulatory compliance on its platform.

First Quarter 2024 Financial Results

Total net revenues in the first quarter of 2024 decreased by 29.9% to RMB1,039.7million (US$144.0 million), compared with RMB1,483.1 million in the same period of 2023.

Livestreaming revenues in the first quarter of 2024 decreased by 41.5% to RMB800.9 million (US$110.9 million) from RMB1,369.0 million in the same period of 2023. The decrease was primarily due to the soft macroeconomic condition and our planned reduction in revenue-generating promotions during the first quarter in light of the seasonality, leading to a year-over-year decrease in total paying users.

Advertising and other revenues in the first quarter of 2024 increased by 109.3% to RMB238.8 million (US$33.1 million) from RMB114.1 million in the same period of 2023. The increase was primarily driven by an increase in other revenues generated through our other innovative business, such as voice-based social networking service.

Cost of revenues in the first quarter of 2024 decreased by 28.8% to RMB930.7 million (US$128.9 million) from RMB1,306.6 million in the same period of 2023.

Revenue-sharing fees and content costs in the first quarter of 2024 decreased by 37.7% to RMB675.1 million (US$93.5 million) from RMB1,084.4 million in the same period of 2023. The decrease was primarily due to a decrease in revenue-sharing fees aligned with decreased livestreaming revenues, as well as a decline in content costs resulting from improved cost management in streamer payments and self-produced content.

Bandwidth costs in the first quarter of 2024 decreased by 33.7% to RMB82.5 million (US$11.4 million) from RMB124.5 million in the same period of 2023.The decline was primarily due to a year-over-year decrease in peak bandwidth usage.

Gross profit in the first quarter of 2024 was RMB109.0 million (US$15.1 million), compared with RMB176.5 million in the same period of 2023. The decline in gross profit was primarily attributable to a decrease in livestreaming revenues and an increase in other costs related to the development of innovative business. Gross margin in the first quarter of 2024 was 10.5%, compared with 11.9% in the same period of 2023.

Sales and marketing expenses in the first quarter of 2024 decreased by 16.6% to RMB75.6 million (US$10.5 million) from RMB90.7 million in the same period of 2023. The decrease was mainly attributable to a decrease in staff-related expenses.

Research and development expenses in the first quarter of 2024 decreased by 25.0% to RMB54.2 million (US$7.5 million) from RMB72.3 million in the same period of 2023. The decrease was primarily due to a decrease in staff-related expenses.

General and administrative expenses in the first quarter of 2024 decreased by 28.4% to RMB42.8 million (US$5.9 million) from RMB59.8 million in the same period of 2023. The decrease was primarily due to a decrease in staff-related expenses.

Other operating expenses, net in the first quarter of 2024 were RMB103.4 million (US$14.3 million) and included a RMB111.7 million of the Voluntary Return, compared with other operating income of RMB19.0 million in the same period of 2023.

Loss from operations in the first quarter of 2024 was RMB166.9 million (US$23.1 million), compared with RMB27.3 million in the same period of 2023.

Net loss in the first quarter of 2024 was RMB88.0 million (US$12.2 million), compared with net income of RMB14.5 million in the same period of 2023.

Adjusted net loss, which excludes the share of income (loss) in equity method investments, gain on disposal of investment and impairment loss of investments, was RMB85.7 million (US$11.9 million) in the first quarter of 2024, compared with adjusted net income of RMB25.8 million in the same period of 2023.

Basic and diluted net loss per ADS[4] in the first quarter of 2024 were both RMB2.77 (US$0.38). Adjusted basic and diluted net loss per ADS in the first quarter of 2024 were both RMB2.69 (US$0.37).

Cash and cash equivalents, restricted cash and bank deposits

As of March 31, 2024, the Company had cash and cash equivalents, restricted cash, restricted cash in other non-current assets, and short-term and long-term bank deposits of RMB6,762.2 million (US$936.6 million), compared with RMB6,855.5 million as of December 31, 2023.

Updates of Share Repurchase Program

On December 28, 2023, the Company announced that its board of directors had authorized a share repurchase program under which the Company may repurchase up to US$20 million of its ordinary shares in the form of ADSs during a period of up to 12 months commencing on January 1, 2024. As of March 31, 2024, the Company had repurchased an aggregate of US$2.7 million of its ADSs in the open market under this program, and we expect to expedite the repurchase activity in the second quarter of 2024.

Renewal of Framework Agreement with Tencent

On June 4, 2024, the Company and Tencent further renewed our strategic cooperation agreement (the “SCFM”), which initially became effective on January 31, 2018 and was subsequently replaced by the Amended and Restated SCFM dated April 1, 2019. The renewed SCFM had substantially the same terms as the Amended and Restated SCFM and extended the term for another three years.

Conference Call Information

The Company will hold a conference call on June 5, 2024, at 7:00 a.m. Eastern Time (or 7:00 p.m. Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers:

International:

+1-412-317-6061

United States Toll Free:

+1-888-317-6003

Mainland China Toll Free:

4001-206115

Hong Kong Toll Free:

800-963976

Singapore Toll Free:

800-120-5863

Conference ID:

3768185

The replay will be accessible through June 12, 2024, by dialing the following numbers:

International:

+1-412-317-0088

United States Toll Free:

+1-877-344-7529

Conference ID:

5832581

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.douyu.com.

[1] “Adjusted net loss” is defined as net loss excluding share of income (loss) in equity method investments, gain on disposal of investment, impairment loss of investments and impairment loss of goodwill and intangible assets. For more information, please refer to “Use of Non-GAAP Financial Measures” and “Reconciliations of GAAP and Non-GAAP Results” at the end of this press release.

[2] Refers to the number of mobile devices that launched our mobile apps in a given period. Average mobile MAUs for a given period is calculated by dividing (i) the sum of active mobile users for each month of such period, by (ii) the number of months in such period.

[3] “Quarterly average paying users” refers to the average paying users for each quarter during a given period of time calculated by dividing (i) the sum of paying users for each quarter of such period, by (ii) the number of quarters in such period. “Paying user” refers to a registered user that has purchased virtual gifts on our platform at least once during the relevant period.

[4] Every one ADS represents one ordinary share for the relevant period and calendar year.

About DouYu International Holdings Limited

Headquartered in Wuhan, China, DouYu International Holdings Limited (Nasdaq: DOYU) is a leading game-centric live streaming platform in China and a pioneer in the eSports value chain. DouYu operates its platform on both PC and mobile apps to bring users access to immersive and interactive games and entertainment livestreaming, a wide array of video and graphic contents, as well as opportunities to participate in community events and discussions. By nurturing a sustainable technology-based talent development system and relentlessly producing high-quality content, DouYu consistently delivers premium content through the integration of livestreaming, video, graphics, and virtual communities with a primary focus on games, especially on eSports. This enables DouYu to continuously enhance its user experience and pursue long-term healthy development. For more information, please see http://ir.douyu.com.

Use of Non-GAAP Financial Measures

Adjusted operating income (loss) is calculated as operating income (loss) adjusted for impairment loss of goodwill and intangible assets. Adjusted net income (loss) is calculated as net income (loss) adjusted for share of income (loss) in equity method investments, gain on disposal of investment, impairment loss of investments, and impairment loss of goodwill and intangible assets. Adjusted net income (loss) attributable to DouYu is calculated as net income (loss) attributable to DouYu adjusted for share of income (loss) in equity method investments, gain on disposal of investment, impairment loss of investments, and impairment loss of goodwill and intangible assets. Adjusted basic and diluted net income per ordinary share is non-GAAP net income attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. The Company adjusted the impact of (i) share of income (loss) in equity method investments, (ii) gain on disposal of investment, (iii) impairment loss of investments, (iv) impairment loss of goodwill and intangible assets to understand and evaluate the Company’s core operating performance. The non-GAAP financial measures are presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to its most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures as a substitute for, or superior to, such metrics in accordance with U.S. GAAP.

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of Non-GAAP Results” near the end of this release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2203 to US$1.00, the noon buying rate in effect on March 29, 2024, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized or settled in U.S. dollars, at that rate on March 29, 2024, or at any other rate.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward- looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s results of operations and financial condition; the Company’s business strategies; general market conditions, in particular, the game live streaming market; the ability of the Company to retain and grow active and paying users; changes in general economic and business conditions in China; the impact of the COVID-19 to the Company’s business operations and the economy in China and globally; any adverse changes in laws, regulations, rules, policies or guidelines applicable to the Company; and assumptions underlying or related to any of the foregoing. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

In China:

Lingling Kong

DouYu International Holdings Limited

Email: ir@douyu.tv

Tel: +86 (10) 6508-0677

 

Andrea Guo

Piacente Financial Communications

Email: douyu@tpg-ir.com

Tel: +86 (10) 6508-0677

 

In the United States:

Brandi Piacente

Piacente Financial Communications

Email: douyu@tpg-ir.com

Tel: +1-212-481-2050

 

Media Relations Contact

In China:

Lingling Kong

DouYu International Holdings Limited

Email: pr_douyu@douyu.tv

Tel: +86 (10) 6508-0677

 

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share, ADS, per share and per ADS data)

As of December 31

As of March 31

2023

2024

2024

ASSETS

RMB

RMB

US$ (1)

Current assets:

Cash and cash equivalents

4,440,131

3,683,872

510,211

Short-term bank deposits

1,716,540

2,391,070

331,159

Accounts receivable, net

73,453

54,247

7,514

Prepayments

38,181

31,698

4,390

Amounts due from related parties

68,994

88,312

12,231

Other current assets

348,129

538,805

74,624

Total current assets

6,685,428

6,788,004

940,129

Property and equipment, net

13,808

9,218

1,277

Intangible assets, net

120,694

131,164

18,166

Long-term bank deposits

630,000

610,000

84,484

Investments

436,197

434,254

60,143

Right-of-use assets, net

22,792

9,686

1,341

Other non-current assets

163,184

158,324

21,928

Total non-current assets

1,386,675

1,352,646

187,339

TOTAL ASSETS

8,072,103

8,140,650

1,127,468

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

LIABILITIES

Current liabilities:

Accounts payable

534,428

522,091

72,309

Advances from customers

12,911

8,962

1,241

Deferred revenue

315,969

292,346

40,489

Accrued expenses and other current liabilities

246,601

281,834

39,034

Amounts due to related parties

251,392

434,698

60,205

Lease liabilities due within one year

14,768

7,411

1,026

Total current liabilities

1,376,069

1,547,342

214,304

Deferred revenue

6,701

–

–

Lease liabilities

–

1,176

163

Total non-current liabilities

6,701

1,176

163

TOTAL LIABILITIES

1,382,770

1,548,518

214,467

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted,
all translations from RMB to U.S. dollars are made at a rate of RMB7.2203 to US$1.00, the noon buying rate in effect on March 29, 2024, in the
H.10 statistical release of the Federal Reserve Board.

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(All amounts in thousands, except share, ADS, per share and per ADS data)

As of December 31

As of March 31

2023

2024

2024

RMB

RMB

US$ (1)

SHAREHOLDERS’ EQUITY

Ordinary shares

23

23

3

Treasury shares

(911,217)

(930,830)

(128,918)

Additional paid-in capital

10,670,287

10,670,287

1,477,818

Accumulated deficit

(3,485,007)

(3,572,960)

(494,849)

Accumulated other comprehensive income

415,247

425,612

58,947

Total DouYu Shareholders’ Equity

6,689,333

6,592,132

913,001

Total Shareholders’ Equity

6,689,333

6,592,132

913,001

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

8,072,103

8,140,650

1,127,468

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted,
all translations from RMB to U.S. dollars are made at a rate of RMB7.2203 to US$1.00, the noon buying rate in effect on March 29, 2024, in the
H.10 statistical release of the Federal Reserve Board.

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(All amounts in thousands, except share, ADS, per share and per ADS data)

Three Months Ended

March 31,

December 31,

March 31,

March 31,

2023

2023

2024

2024

RMB

RMB

RMB

US$(1)

Net revenues

1,483,060

1,295,962

1,039,684

143,995

Cost of revenues

(1,306,594)

(1,169,712)

(930,678)

(128,897)

Gross profit

176,466

126,250

109,006

15,098

Operating income (expense)

Sales and marketing expenses

(90,686)

(83,998)

(75,570)

(10,466)

General and administrative expenses

(59,793)

(80,031)

(42,797)

(5,927)

Research and development expenses

(72,311)

(59,072)

(54,150)

(7,500)

Other operating income (expense), net

19,046

(9,618)

(103,428)

(14,325)

Impairment of goodwill

–

(13,967)

–

–

Total operating expenses

(203,744)

(246,686)

(275,945)

(38,218)

Loss from operations

(27,277)

(120,436)

(166,939)

(23,120)

Other expenses, net

(8,000)

(21,844)

–

–

Interest income

54,426

82,556

81,094

11,231

Foreign exchange (loss) income

(1,396)

(122)

153

21

Income (loss) before income taxes and share of (loss)
  income in equity method investments

17,753

(59,846)

(85,692)

(11,868)

Income tax expenses

–

(1,069)

–

–

Share of (loss) income in equity method investments

(3,236)

(1,310)

(2,261)

(313)

Net income (loss)

14,517

(62,225)

(87,953)

(12,181)

Net income (loss) attributable to ordinary
  shareholders of the Company

14,517

(62,225)

(87,953)

(12,181)

Net income (loss) per ordinary share

Basic

0.45

(1.95)

(2.77)

(0.38)

Diluted

0.45

(1.95)

(2.77)

(0.38)

Net income (loss) per ADS(2)

Basic

0.45

(1.95)

(2.77)

(0.38)

Diluted

0.45

(1.95)

(2.77)

(0.38)

Weighted average number of ordinary shares used in calculating net income (loss) per ordinary share

Basic

32,023,551

31,977,665

31,807,180

31,807,180

Diluted

32,023,551

31,977,665

31,807,180

31,807,180

Weighted average number of ADS used in calculating net income (loss) per ADS(2)

Basic

32,023,551

31,977,665

31,807,180

31,807,180

Diluted

32,023,551

31,977,665

31,807,180

31,807,180

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all translations
from RMB to U.S. dollars are made at a rate of RMB7.2203 to US$1.00, the noon buying rate in effect on March 29, 2024, in the H.10 statistical release of the
Federal Reserve Board.
(2) Every one ADS represents
one ordinary share. 

 

RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except share, ADS, per share and per ADS data)

Three Months Ended

March 31,

December 31,

March 31,

March 31,

2023

2023

2024

2024

RMB

RMB

RMB

US$(1)

Loss from operations

(27,277)

(120,436)

(166,939)

(23,120)

Add:

Impairment of goodwill and intangible assets

–

34,035

–

–

Adjusted Operating Loss

(27,277)

(86,401)

(166,939)

(23,120)

Net income (loss)

14,517

(62,225)

(87,953)

(12,181)

Add:

Share of loss in equity method investments

3,236

1,310

2,261

313

Impairment losses of investments

8,000

21,844

–

–

Impairment losses of goodwill and intangible assets

–

34,035

–

–

Adjusted net income (loss)

25,753

(5,036)

(85,692)

(11,868)

Net income (loss) attributable to DouYu

14,517

(62,225)

(87,953)

(12,181)

Add:

Share of loss in equity method investments

3,236

1,310

2,261

313

Impairment losses of investments

8,000

21,844

–

–

Impairment losses of goodwill and intangible assets

–

34,035

–

–

Adjusted net income (loss) attributable to DouYu

25,753

(5,036)

(85,692)

(11,868)

Adjusted net income (loss) per ordinary share

Basic

0.80

(0.16)

(2.69)

(0.37)

Diluted

0.80

(0.16)

(2.69)

(0.37)

Adjusted net income (loss) per ADS(2)

Basic

0.80

(0.16)

(2.69)

(0.37)

Diluted

0.80

(0.16)

(2.69)

(0.37)

Weighted average number of ordinary shares used in calculating adjusted net income (loss) per ordinary share

Basic

32,023,551

31,977,665

31,807,180

31,807,180

Diluted

32,023,551

31,977,665

31,807,180

31,807,180

Weighted average number of ordinary shares used in calculating adjusted net income (loss) per ADS(2)

Basic

32,023,551

31,977,665

31,807,180

31,807,180

Diluted

32,023,551

31,977,665

31,807,180

31,807,180

(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all translations
from RMB to U.S. dollars are made at a rate of RMB7.2203 to US$1.00, the noon buying rate in effect on March 29, 2024, in the H.10 statistical release of
the Federal Reserve Board.
(2) Every one ADS represents one ordinary share.

 

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Cboe Clear U.S. Receives SEC Approval to Expand Clearing Capabilities

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SEC registration enables Cboe Clear U.S. to clear binary securities options alongside futures, positioning it to support innovation across the market

CHICAGO, Oct. 23, 2026 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, today announced that Cboe Clear U.S., LLC (CCUS) has received temporary registration from the U.S. Securities and Exchange Commission (SEC) to operate as a Covered Clearing Agency.

The registration expands CCUS’s clearing capabilities beyond its existing authorities as a Commodity Futures Trading Commission (CFTC)-registered Derivatives Clearing Organization (DCO) to clear securities products in addition to futures and swaps products. Together with recent enhancements to its regulatory framework and product scope, the milestone positions CCUS to support innovation and emerging opportunities across a broad range of assets and markets.

CCUS will initially use its SEC registration to clear Cboe’s binary securities options tied to specified corporate key performance indicators (KPIs), which are planned to list on Cboe Options Exchange and be available on Robinhood in the fourth-quarter 2026. CCUS also recently received CFTC approval to clear margined futures broadly and continues to clear digital asset derivatives under its DCO designation.

“Clearing plays a critical role in bringing innovation to market,” said Dale Michaels, Head of Cboe Clear U.S. “These expanded capabilities position Cboe Clear U.S. to become an innovation lane to support new products and meet evolving customer needs, while maintaining the rigorous risk management standards that are fundamental to our business.”

These efforts complement Cboe’s longstanding partnership with The Options Clearing Corporation (OCC)® and Cboe’s continued commitment to supporting the established clearing infrastructure for traditional equity options.

The development builds on the growth of Cboe’s established European clearing business, where Cboe Clear Europe has become the leading pan-European equities central counterparty, while expanding into new services such as securities financing transaction clearing. Together, these advances demonstrate Cboe’s ability to extend its clearing capabilities across markets and asset classes.

To support its own future growth, CCUS has strengthened its infrastructure over the past year, including electing in June to become a Subpart C DCO. In doing so, CCUS is voluntarily adopting the enhanced standards the CFTC applies to systemically important DCOs for financial resources, risk management and operational resilience, aligning with those applied to leading global clearing organizations.

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity and index derivatives. Since launching the world’s first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world’s leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.

Cboe Media Contacts

 

Cboe Analyst Contact

 

Angela Tu

+1-646-856-8734

atu@cboe.com

Tim Cave

+44 (0) 7593-506-719

tcave@cboe.com

Kenneth Hill, CFA

+1-312-786-7559

khill@cboe.com

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Cboe®, Cboe Global Markets®, and VIX ® are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor’s Financial Services LLC. All other trademarks and service marks are the property of their respective owners. 

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.

We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our  clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.

We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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SOURCE Cboe Global Markets, Inc.

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Technology

Hears Everything, Uploads Nothing: VoxNexus Launches Android’s First Low-Power On-Device Always-On Voice Artificial Intelligence (AI)

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VoxNexus’ new on-device ambient listening solution runs for 12 hours on 2.49% of a phone’s battery and never sends audio to the cloud

MADRID, Oct. 23, 2026 /PRNewswire/ — VoxNexus (www.VoxNexus.ai) released VoxEdge, an on-device voice stack that brings speech recognition, translation and speech synthesis to affordable Android devices, entirely offline. VoxEdge supports speech recognition in 36 languages, translation in 103 languages, and speech synthesis in 45 languages—all running with no connection, no data bundle, and no cloud token bills.

AI should work for everyone, not just for speakers of a handful of mainstream languages. Yet across much of Africa, voice AI has been held back by scarce training data and the lack of targeted fine-tuning. Everyday speech also includes code-switching and dialect variation, while cloud-based inference costs can make deployment at scale expensive. 

VoxNexus’s solutions run entirely on device, and every query is free once the model is installed on the device. Its speech recognition model has as few as 65 million parameters and achieves a lower word error rate than open-source models nearly ten times its size.

“Under-resource languages aren’t small languages. Hundreds of millions of people speak them. Until now, AI models just haven’t learned them yet,” said Charles Shi, CEO of VoxNexus.

VoxNexus also launched VoxSense, an on-device ambient listening solution that uses only 162 mAh for 12 hours of continuous listening, around 2.5% of a 6,500 mAh phone battery. By keeping all processing on device, VoxSense makes always-on listening practical without draining the battery and without sending any audio to the cloud. Developers and device makers can easily integrate it through a license and a simple SDK. Developers can request a free trial here: www.VoxNexus.ai.

VoxSense and VoxEdge were unveiled at the MediaTek Dimensity 9600 launch in Madrid on October 19.

Distributed by APO Group on behalf of VoxNexus AI. 

About VoxNexus:
VoxNexus builds AI that hears and speaks — for everyone, everywhere, all the time. Its audio intelligence runs entirely on-device, delivering low latency, built-in privacy, and zero token cost across any device with a chip. VoxNexus is headquartered in Singapore. Website: www.VoxNexus.ai. Contact: public@voxnexus.ai  

VoxNexus demonstrates live on-device speech recognition at the MediaTek Dimensity 9600 launch in Madrid on Oct. 19, 2026. Spanish and English conversations were transcribed in real time on the phone, with no cloud connection. (Photo: VoxNexus) 

Speaks Your Language, No Internet Needed: VoxNexus Brings On-Device Voice Artificial Intelligence (AI) in 100+ Languages to Affordable Android Devices

View original content:https://www.prnewswire.com/news-releases/hears-everything-uploads-nothing-voxnexus-launches-androids-first-low-power-on-device-always-on-voice-artificial-intelligence-ai-302918304.html

SOURCE VoxNexus AI

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team.blue extends €1.1 billion of its Term Loan B to 2032 in the largest software Euro term loan issuance in the last 12 months

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GHENT, Belgium, Oct. 23, 2026 /PRNewswire/ — team.blue, a leading pan-European provider of digital solutions for small and medium-sized businesses (SMBs) backed by Hg, CPP Investments and Sofina, today announces the successful pricing of an amendment and maturity extension for €1.1 billion of its existing €1.35 billion Term Loan B. The transaction priced on 22 October 2026, with the refinanced tranche extended from September 2029 to July 2032, reinforcing the Company’s prudent capital structure approach.

Strong demand from a broad group of institutional investors enabled team.blue to upsize the transaction twice in-market, taking the final deal size to €1.1 billion from a minimum initial launch size of €500 million, despite recent credit market volatility. Pro forma for the transaction, c.90% of team.blue’s term debt now matures in 2032.

The transaction comes at a time of significant momentum for team.blue, with continued double-digit revenue growth and strong cash generation supporting its deleveraging trajectory. Its products help Europe’s SMBs get online, get customers, get paid and stay compliant, and AI-enabled products are increasingly driving new customer growth. team.blue continues to innovate across its portfolio, from smarter tools within its brands to secure European cloud hosting built for customers’ growing AI workloads. Its category-leading SaaS brands are also integrating with leading AI assistants, bringing team.blue’s products to customers wherever they work.

Transaction highlights

The largest software Euro term loan issuance in the last 12 months€1.1 billion Term Loan B, borrowed by team.blue Finco S.à r.l., maturing July 2032Priced at E + 425bps with a 0% floor and an OID of 98.5Upsized twice from an initial €500 million, reflecting a heavily oversubscribed order bookCorporate and facility ratings of B3 (Moody’s) and B (S&P), both with stable outlooksBofA acted as Global Coordinator and Left Lead Physical Bookrunner, alongside Barclays. ABN AMRO, BNP Paribas, Citi, ING and J.P. Morgan acted as Bookrunners

Jonathan Thackray, Chief Financial Officer of team.blue, said:
“We set out to extend €500 million of our Term Loan B, and the depth of support from our institutional investor base allowed us to go much further. This reflects confidence in team.blue’s highly recurring, cash-generative model and our position as a leading digital partner for Europe’s SMBs. It gives us the flexibility to keep innovating and investing in the digital and AI-enabled tools our customers rely on.”

About team.blue
team.blue is the pan-European digital partner for small and medium businesses, serving more than 3.5 million customers in 24 countries. From web hosting, domains, email and cloud and AI infrastructure to e-commerce, engagement, payments and compliance tools, team.blue helps SMBs get online, get customers, get paid and stay compliant. Supported by more than 4,000 employees, team.blue’s vision is to make online business success simpler, with artificial intelligence at every step. 

View original content:https://www.prnewswire.co.uk/news-releases/teamblue-extends-1-1-billion-of-its-term-loan-b-to-2032-in-the-largest-software-euro-term-loan-issuance-in-the-last-12-months-302918306.html

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