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BEST Inc. Announces Unaudited First Quarter 2024 Financial Results

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HANGZHOU, China, June 6, 2024 /PRNewswire/ — BEST Inc. (NYSE: BEST) (“BEST” or the “Company”), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia (“SEA”), today announced its unaudited financial results for the first quarter ended March 31, 2024.

FINANCIAL HIGHLIGHTS (1)

For the First Quarter Ended March 31, 2024:(2)

Revenue was RMB1,942.0 million (US$269.0 million), compared to RMB1,715.3 million in the first quarter of 2023. The increase was primarily due to increased revenue of BEST Freight and BEST Global.Gross Profit was RMB55.2 million (US$7.6 million), compared to gross loss of RMB8.5 million in the first quarter of 2023. The increase was primarily due to increased volume and further improvements of operating efficiency for both BEST Freight and BEST Global. Gross Profit Margin was 2.8% for the first quarter of 2024, compared to Gross Loss Margin of 0.5% in the same period of 2023.Net Loss from continuing operations was RMB172.1 million (US$23.8 million), compared to RMB257.6 million in the first quarter of 2023; which represented approximately 33% improvement year over year. Non-GAAP Net Loss from continuing operations(3)(4) was RMB164.9 million (US$22.8 million), compared to RMB245.5 million in the first quarter of 2023.Diluted loss per ADS(5) from continuing operations was RMB8.69 (US$1.20), compared to RMB12.38 in the first quarter of 2023. Non-GAAP diluted loss per ADS(3)(4) from continuing operations was RMB8.30 (US$1.15), compared to RMB11.77 in the first quarter of 2023.EBITDA(6) from continuing operations was negative RMB133.5 million (US$18.5 million), compared to negative RMB218.9 million in the first quarter of 2023. Adjusted EBITDA(6) from continuing operations was negative RMB126.3 million (US$17.5 million), compared to negative RMB206.8 million in the first quarter of 2023.

BEST Freight – BEST Freight recorded a revenue growth of 16.3% in the first quarter of 2024, year over year. Freight’s gross margin was 3.4%, representing a 3.6 percentage points improvement from the same period of 2023 as we continued to reduce operating expenses and improve efficiency.

BEST Supply Chain Management – BEST Supply Chain Management’s revenue decreased by 6.6% in the first quarter of 2024 compared with the same period of last year as we discontinued certain not-profitable key account customers.

BEST Global – In the first quarter of 2024, BEST Global continued its robust e-commerce growth. BEST Global’s first quarter’s revenue increased by 42.6% while its parcel volumes increased by 39.4% compared with the same quarter of 2023. In additional, for the first quarter of 2024, parcel volumes in Vietnam and Malaysia increased by 120.0% and 23.8%, respectively and total volume of the cross-border business increased by 256.4%; year over year.

Key Operational Metrics 

Three Months Ended

% Change YOY

March 31,

2022

March 31,

2023

March 31,

2024

2023 vs
202
2

2024 vs
202
3

Freight Volume (Tonne in ‘000)

1,683

1,769

1,987

5.1 %

12.4 %

Supply Chain Management
Volume (Tonne in ‘000)

330

390

360

97.0 %

(7.7 %)

Global Parcel Volume in SEA
 (in ‘000)

38,390

27,053

37,715

(29.5 %)

39.4 %

FINANCIAL RESULTS (7) 

For the First Quarter Ended March 31, 2024:

Revenue

The following table sets forth a breakdown of revenue by business segment for the periods indicated.

Table 1 – Breakdown of Revenue by Business Segment

Three Months Ended

March 31, 2023

March 31, 2024

(In ‘000, except for %)

RMB

% of
Revenue

RMB

US$

% of
Revenue

% Change
YOY

Freight

1,051,873

61.3 %

1,223,486

169,451

63.0 %

16.3 %

Supply Chain Management

440,254

25.7 %

411,009

56,924

21.2 %

(6.6 %)

Global

197,028

11.5 %

280,874

38,901

14.4 %

42.6 %

Others(8)

26,107

1.5 %

26,666

3,693

1.4 %

2.1 %

Total Revenue

1,715,262

100.0 %

1,942,035

268,969

100.0 %

13.2 %

Freight Service Revenue was RMB1,223.5 million (US$169.5 million) for the first quarter of 2024, compared to RMB1,051.9 million in the same period of last year. Freight service revenue increased by 16.3% year over year, primarily due to increase in both volume and average selling price per tonne.Supply Chain Management Service Revenue decreased by 6.6% year over year to RMB411.0 million (US$56.9 million) for the first quarter of 2024 from RMB440.3 million in the same period of last year as we discontinued certain not-profitable key account customers.Global Service Revenue increased by 42.6% year over year to RMB280.9 million (US$38.9 million) for the first quarter of 2024 from RMB197.0 million in the same period of last year, primarily due to volume growth in Vietnam, Malaysia and cross-border business.

Cost of Revenue

The following table sets forth a breakdown of cost of revenue by business segment for the periods indicated.

Table 2 – Breakdown of Cost of Revenue by Business Segment

Three Months Ended

% of Revenue
Change

YOY

March 31, 2023

March 31, 2024

(In ‘000, except for %)

RMB

% of
Revenue

RMB

US$

% of
Revenue

Freight

(1,054,635)

100.3 %

(1,182,417)

(163,763)

96.6 %

(3.6 %)

Supply Chain Management

(404,350)

91.8 %

(383,345)

(53,093)

93.3 %

1.4 %

Global

(249,204)

126.5 %

(313,793)

(43,460)

111.7 %

(14.8 %)

Others

(15,538)

59.5 %

(7,256)

(1,004)

27.2 %

(32.3 %)

Total Cost of Revenue

(1,723,727)

100.5 %

(1,886,811)

(261,320)

97.2 %

(3.3 %)

Cost of Revenue for Freight was RMB1,182.4 million (US$163.8 million), or 96.6% of revenue in the first quarter of 2024. The 3.6 percentage points year-over-year decrease in cost of revenue as a percentage of revenue was mainly due to higher volume and improved efficiency.Cost of Revenue for Supply Chain Management was RMB383.3 million (US$53.1 million), or 93.3% of revenue, in the first quarter of 2024, compared to cost of revenue as a percentage of revenue of 91.8% in the first quarter of 2023. The increase of cost of revenue was mainly due to new business development with lower growth margin.Cost of Revenue for Global was RMB313.8 million (US$43.5 million), or 111.7% of revenue, in the first quarter of 2024. The 14.8 percentage points year-over-year decrease in cost of revenue as a percentage of revenue due to increased parcel volume and operating efficiency.

Gross Profit was RMB55.2 million (US$7.6 million) in the first quarter of 2024, compared to gross loss of RMB8.5 million in the first quarter of 2023; Gross Margin was 2.8%, compared to negative 0.5% in the first quarter of 2023.

Operating Expenses

Selling, General and Administrative (“SG&A”) Expenses were RMB220.4 million (US$30.5 million), or 11.3% of revenue in the first quarter of 2024, compared to RMB247.7 million, or 14.4% of revenue in the same quarter of 2023, as we continued to optimize our organizational structure.

Research and Development Expenses were RMB29.3 million (US$4.1 million), or 1.5% of revenue in the first quarter of 2024, compared to RMB28.7 million, or 1.7% of revenue in the first quarter of 2023.

Share-based Compensation (“SBC”) Expenses included in the cost and expense items above were RMB7.2 million (US$1.0 million) in the first quarter of 2024, compared to RMB12.1 million in the same period of 2023. Of the total SBC expenses, RMB0.04 million (US$0.01 million) was allocated to cost of revenue, RMB0.3 million (US$0.03 million) was allocated to selling expenses, RMB6.3 million (US$0.9 million) was allocated to general and administrative expenses, and RMB0.7 million (US$0.09 million) was allocated to research and development expenses.

Net Loss and Non-GAAP Net Loss from continuing operations

Net Loss from continuing operations in the first quarter of 2024 was RMB172.1 million (US$23.8 million), compared to RMB257.6 million in the same period of 2023. Non-GAAP Net Loss from continuing operations in the first quarter of 2024 was RMB164.9 million (US$22.8 million), compared to RMB245.5 million in the first quarter of 2023.

Diluted loss per ADS and Non-GAAP diluted loss per ADS from continuing operations

Diluted loss per ADS from continuing operations in the first quarter of 2024 was RMB8.69 (US$1.20), compared to a loss of RMB12.38 in the same period of 2023. Non-GAAP diluted loss per ADS from continuing operations in the first quarter of 2024 was RMB8.30 (US$1.15), compared to a loss of RMB11.77 in the first quarter of 2023. A reconciliation of non-GAAP diluted loss per ADS to diluted loss per ADS is included at the end of this results announcement.

Adjusted EBITDA and Adjusted EBITDA Margin from continuing operations 

Adjusted EBITDA from continuing operations in the first quarter of 2024 was negative RMB126.3 million (US$17.5 million), compared to negative RMB206.8 million in the same period of 2023. Adjusted EBITDA Margin from continuing operations in the first quarter of 2024 was negative 6.5%, compared to negative 12.1% in the same period of 2023.

Cash and Cash Equivalents, Restricted Cash and Short-term Investments

As of March 31, 2024, cash and cash equivalents, restricted cash and short-term investments were RMB2,095.8 million (US$290.3 million), compared to RMB3,171.8 million as of March 31, 2023. In July 2023, the Company repurchased approximately US$75 million (RMB542 million) aggregate principal amount of its existing Convertible Senior Notes due 2024.

Net Cash Used In Continuing Operating Activities 

Net cash used in continuing operating activities in the first quarter of 2024 was RMB138.5 million (US$19.2 million), compared to RMB163.2 million of net cash used in continuing operating activities in the same period of 2023.

SHARES OUTSTANDING

As of May 17, 2024, the Company had approximately 401.9 million ordinary shares outstanding(9). Each American Depositary Share represents twenty (20) Class A ordinary shares.

As previously announced, effective from April 4, 2023, the Company changed the ratio of its American Depositary Shares to its Class A ordinary shares, par value US$0.01 per share, from the original ADS ratio of one (1) ADS to five (5) Class A ordinary share, to a new ADS ratio of one (1) ADS to twenty (20) Class A ordinary shares.

Effective as of September 25, 2023, the Company’s board of directors terminated its previously announced share repurchase program, under which the Company could repurchase up to US$20 million worth of its outstanding American Depositary Shares over a 12-month period. Prior to the program’s termination, the Company repurchased a total of 1,265,685 ADSs for a total amount paid of approximately US$3.3 million (excluding commissions) under the program.

ABOUT BEST INC.

BEST Inc. (NYSE: BEST) is a leading integrated smart supply chain solutions and logistics services provider in China and SEA. Through its proprietary technology platform and extensive networks, BEST offers a comprehensive set of logistics and value-added services, including freight delivery, supply chain management, cross-border and global logistics services. BEST’s mission is to empower business and enrich life by leveraging technology and business model innovation to create a smarter, more efficient integrated supply chain management eco-system. For more information, please visit: http://www.best-inc.com/en/.  

SAFE HARBOR STATEMENT

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as BEST’s strategic and operational plans, contain forward-looking statements. BEST may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about BEST’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. 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: BEST’s goals and strategies; BEST’s future business development, results of operations and financial condition; BEST’s ability to maintain and enhance its ecosystem; BEST’s ability to compete effectively; BEST’s ability to continue to innovate, meet evolving market trends, adapt to changing customer demands and maintain its culture of innovation; fluctuations in general economic and business conditions in China and other countries in which BEST operates, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in BEST’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and BEST does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

USE OF NON-GAAP FINANCIAL MEASURES 

In evaluating its business, BEST considers and uses non-GAAP measures, such as non-GAAP net loss/income, non-GAAP net loss/income margin, adjusted EBITDA, adjusted EBITDA margin, EBITDA, and non-GAAP Diluted earnings/loss per ADS, as supplemental measures in the evaluation of the Company’s operating results and in the Company’s financial and operational decision-making. The Company believes these non-GAAP financial measures that help identify underlying trends in the Company’s business that could otherwise be distorted by the effect of the expenses and gains that the Company includes in loss from operations and net loss. The Company believes that these non-GAAP financial measures provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of Non-GAAP Measures to the Nearest Comparable GAAP Measures” in the results announcement.

The non-GAAP financial measures are provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors’ overall understanding of the Company’s current financial performance and prospects for the future. These non-GAAP financial measures should be considered in addition to results prepared in accordance with U.S. GAAP, but should not be considered a substitute for, or superior to, U.S. GAAP results. In addition, the Company’s calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited.

 

Summary of Unaudited Condensed Consolidated Income Statements

(In Thousands)

Three Months Ended March 31,

2023

2024

RMB

RMB

US$

Revenue

Freight

1,051,873

1,223,486

169,451

Supply Chain Management

440,254

411,009

56,924

Global

197,028

280,874

38,901

Others

26,107

26,666

3,693

Total Revenue

1,715,262

1,942,035

268,969

Cost of Revenue

Freight

(1,054,635)

(1,182,417)

(163,763)

Supply Chain Management

(404,350)

(383,345)

(53,093)

Global

(249,204)

(313,793)

(43,460)

Others

(15,538)

(7,256)

(1,004)

Total Cost of Revenue

(1,723,727)

(1,886,811)

(261,320)

Gross (Loss)/Profit

(8,465)

55,224

7,649

Selling Expenses

(53,817)

(68,145)

(9,438)

General and Administrative Expenses

(193,890)

(152,225)

(21,083)

Research and Development Expenses

(28,697)

(29,284)

(4,056)

Other operating expense, net

(1,366)

(3,272)

(453)

Loss from Operations

(286,235)

(197,702)

(27,381)

Interest Income

21,678

15,688

2,173

Interest Expense

(17,621)

(12,445)

(1,724)

Foreign Exchange Gain/(loss)

14,724

(314)

(43)

Other Income

5,224

2,285

316

Other Expense

(651)

(1,875)

(260)

Gain on changes in the fair value of derivative assets/liabilities

5,392

22,365

3,098

Loss before Income Tax and Share of Net Loss of
    Equity Investees

(257,489)

(171,998)

(23,821)

Income Tax Expense

(138)

(103)

(15)

Net Loss from continuing operations

(257,627)

(172,101)

(23,836)

Net (loss)/gain from discontinued operations

–

–

–

Net Loss

(257,627)

(172,101)

(23,836)

Net Loss from continuing operations attributable to

non-controlling interests

(13,428)

(11,169)

(1,547)

Net Loss attributable to BEST Inc.

(244,199)

(160,932)

(22,289)

 

 

 

Summary of Unaudited Condensed Consolidated Balance Sheets

(In Thousands)

As of December 31,2023

As of March 31, 2024

RMB

RMB

US$

Assets

Current Assets

Cash and Cash Equivalents

425,976

232,923

32,259

Restricted Cash

1,008,318

1,349,705

186,932

Accounts and Notes Receivables

829,802

750,916

104,001

Inventories

7,794

8,116

1,124

Prepayments and Other Current Assets

674,100

757,848

104,961

Short‑term Investments

35,888

61,749

8,552

Amounts Due from Related Parties

60,394

48,916

6,775

Lease Rental Receivables

47,925

25,234

3,495

Total Current Assets

3,090,197

3,235,407

448,099

Non‑current Assets

Property and Equipment, Net

624,205

594,836

82,384

Intangible Assets, Net

93,173

91,196

12,631

Long‑term Investments

156,859

156,859

21,725

Goodwill

54,135

54,135

7,498

Non‑current Deposits

81,869

52,971

7,336

Other Non‑current Assets

46,913

43,931

6,084

Restricted Cash

812,371

451,431

62,522

Lease Rental Receivables

314

–

–

Operating Lease Right-of-use Assets

1,293,526

1,216,540

168,488

Total non‑current Assets

3,163,365

2,661,899

368,668

Total Assets

6,253,562

5,897,306

816,767

Liabilities and Shareholders’ Equity

Current Liabilities

Long-term borrowings-current

721

55

8

Long-term Bank Loans-current

794,679

956,858

132,523

Convertible Senior Notes held by related parties

531,202

106,425

14,740

Convertible Senior Notes held by third parties

78

78

11

Short‑term Bank Loans

401,755

459,400

63,626

Accounts and Notes Payable

1,640,864

1,483,687

205,488

Income Tax Payable

2,777

2,604

361

Customer Advances and Deposits and
    Deferred Revenue

288,184

286,732

39,711

Accrued Expenses and Other Liabilities

1,091,573

1,057,814

146,506

Financing Lease Liabilities

418

474

66

Operating Lease Liabilities

509,450

551,756

76,417

Amounts Due to Related Parties

1,119

1,196

166

Total Current Liabilities

5,262,820

4,907,079

679,623

 

 

 

Summary of Unaudited Condensed Consolidated Balance Sheets (Cont’d)

(In Thousands)

As of December 31, 2023

As of March 31, 2024

RMB

RMB

US$

Non-current Liabilities

Convertible senior notes held by related parties

–

425,700

58,959

Operating Lease Liabilities

876,854

776,519

107,547

Financing Lease Liabilities

1,231

1,202

166

Other Non‑current Liabilities

22,837

18,009

2,494

Long-term Bank Loans

159,729

133

18

Total Non‑current Liabilities

1,060,651

1,221,563

169,184

Total Liabilities

6,323,471

6,128,642

848,807

Mezzanine Equity:

Convertible Non-controlling Interests

191,865

191,865

26,573

Total mezzanine equity

191,865

191,865

26,573

Shareholders’ Deficit

Ordinary Shares

25,988

25,988

3,599

Treasury Shares

(23,853)

(23,853)

(3,304)

Additional Paid‑In Capital

19,529,806

19,537,054

2,705,851

Accumulated Deficit

(19,749,262)

(19,910,194)

(2,757,530)

Accumulated Other Comprehensive Income

119,169

122,595

16,979

BEST Inc. Shareholders’ Deficit

(98,152)

(248,410)

(34,405)

Non-controlling Interests

(163,622)

(174,791)

(24,208)

Total Shareholders’ Deficit

(261,774)

(423,201)

(58,613)

Total Liabilities, Mezzanine Equity and
    Shareholders’ Deficit

6,253,562

5,897,306

816,767

 

 

 

Summary of Unaudited Condensed Consolidated Statements of Cash Flows

   (In Thousands)

Three Months Ended March 31,

2023

2024

RMB

RMB

US$

Net cash used in continuing operating activities

(163,187)

(138,518)

(19,185)

Net cash used in operating activities

(163,187)

(138,518)

(19,185)

Net cash generated from/(used in) continuing investing   
    activities

683,000

(132,734)

(18,383)

Net cash generated from/(used in) investing activities

683,000

(132,734)

(18,383)

Net cash generated from continuing financing activities

117,619

52,007

7,203

Net cash generated from financing activities

117,619

52,007

7,203

Exchange Rate Effect on Cash and Cash Equivalents, and
    Restricted Cash

(13,222)

6,639

919

Net increase/(decrease) in Cash and Cash Equivalents,
    and Restricted Cash

624,210

(212,606)

(29,446)

Cash and Cash Equivalents, and Restricted Cash at
    Beginning of Period

2,478,423

2,246,665

311,160

Cash and Cash Equivalents, and Restricted Cash at
    End of Period

3,102,633

2,034,059

281,714

RECONCILIATIONS OF NON-GAAP MEASURES TO THE NEAREST COMPARABLE GAAP MEASURES

For the Company’s continuing operations, the table below sets forth a reconciliation of the Company’s net loss to EBITDA, adjusted EBITDA and adjusted EBITDA margin for the periods indicated:

Table 3 – Reconciliation of EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin

Three Months Ended March 31, 2024

(In RMB’000)

Freight

Supply Chain

Global

Others

Unallocated(10)

Total

Net Loss

(42,439)

(13,438)

(100,337)

(6,040)

(9,847)

(172,101)

Add

Depreciation & Amortization

18,243

8,602

10,921

54

3,902

41,722

Interest Expense

–

–

–

–

12,445

12,445

Income Tax Expense

–

–

–

103

–

103

Subtract

Interest Income

–

–

–

–

(15,688)

(15,688)

EBITDA

(24,196)

(4,836)

(89,416)

(5,883)

(9,188)

(133,519)

Add

 Share-based

Compensation Expenses

1,271

696

265

6

5,010

7,248

Adjusted EBITDA

(22,925)

(4,140)

(89,151)

(5,877)

(4,178)

(126,271)

Adjusted EBITDA Margin

(1.87 %)

(1.01 %)

(31.74 %)

(22.04 %)

–

(6.50 %)

 

Three Months Ended March 31, 2023

(In RMB’000)

Freight

Supply Chain

Global

Others

Unallocated

Total

Net Loss

(80,238)

376

(111,867)

(20,362)

(45,536)

(257,627)

Add

Depreciation & Amortization

19,316

8,648

9,232

509

4,952

42,657

Interest Expense

–

–

–

–

17,621

17,621

Income Tax Expense/(Benefit)

–

–

(11)

149

–

138

Subtract

Interest Income

–

–

–

–

(21,678)

(21,678)

EBITDA

(60,922)

9,024

(102,646)

(19,704)

(44,641)

(218,889)

Add

 Share-based

Compensation Expenses

1,852

788

650

20

8,783

12,093

Adjusted EBITDA

(59,070)

9,812

(101,996)

(19,684)

(35,858)

(206,796)

Adjusted EBITDA Margin

(5.62 %)

2.23 %

(51.77 %)

(75.40 %)

–

(12.06 %)

For the Company’s continuing operations, the table below sets forth a reconciliation of the Company’s net loss to non-GAAP net loss, non-GAAP net loss margin for the periods indicated:

Table 4 – Reconciliation of Non-GAAP Net Loss and Non-GAAP Net Loss Margin

Three Months Ended March 31, 2024

(In RMB’000)

Freight

Supply Chain

Global

Others

Unallocated(11)

Total

Net Loss

(42,439)

(13,438)

(100,337)

(6,040)

(9,847)

(172,101)

Add

 Share-based

Compensation Expenses

1,271

696

265

6

5,010

7,248

Non-GAAP Net Loss

(41,168)

(12,742)

(100,072)

(6,034)

(4,837)

(164,853)

Non-GAAP Net Loss Margin

(3.36 %)

(3.10 %)

(35.63 %)

(22.63 %)

–

(8.49 %)

 

Three Months Ended March 31, 2023

(In RMB’000)

Freight

Supply Chain

Global

Others

Unallocated(12)

Total

Net Loss

(80,238)

376

(111,867)

(20,362)

(45,536)

(257,627)

Add

Share-based

Compensation Expenses

1,852

788

650

20

8,783

12,093

Non-GAAP Net Loss

(78,386)

1,164

(111,217)

(20,342)

(36,753)

(245,534)

Non-GAAP Net Loss Margin

(7.45 %)

0.26 %

(56.45 %)

(77.92 %)

–

(14.31 %)

For the Company’s continuing operations, the table below sets forth a reconciliation of the Company’s diluted loss per ADS to Non-GAAP diluted loss per ADS for the periods indicated:

Table 5 – Reconciliation of diluted loss per ADS and Non-GAAP diluted loss per ADS

Three Months Ended March 31,

2024

(In ‘000)

RMB

US$

Net Loss Attributable to Ordinary Shareholders

(160,932)

(22,289)

Add

Share-based Compensation Expenses

7,248

1,004

Non-GAAP Net Loss Attributable to Ordinary Shareholders

(153,684)

(21,285)

Weighted Average Diluted Ordinary Shares Outstanding During
    the Quarter

Diluted

370,219,148

370,219,148

Diluted (Non-GAAP)

370,219,148

370,219,148

Diluted loss per ordinary share

(0.43)

(0.06)

Add

Non-GAAP adjustment to net loss per ordinary share

0.01

0.00

Non-GAAP diluted loss per ordinary share

(0.42)

(0.06)

Diluted loss per ADS

(8.69)

(1.20)

Add

Non-GAAP adjustment to net loss per ADS

0.39

0.05

Non-GAAP diluted loss per ADS

(8.30)

(1.15)

 

(1) All numbers presented have been rounded to the nearest integer, tenth, or hundredth, and year over year comparisons are based on figures before rounding.         

(2) In December 2021, BEST sold its China express business, the principal terms of which were previously announced. As a result, China express business has been deconsolidated from the Company and its historical financial results are reflected in the Company’s consolidated financial statements as discontinued operations accordingly. The financial information and non-GAAP financial information disclosed in this press release is presented on a continuing operations basis, unless otherwise specifically stated.

(3) Non-GAAP net income/loss represents net income/loss excluding share-based compensation expenses.

(4) See the sections entitled “Use of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Measures to the Nearest Comparable GAAP Measures” for more information about the non-GAAP measures referred to within this results announcement.

(5) Diluted earnings/loss per ADS, is calculated by dividing net income/loss attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalent shares expressed in ADS outstanding during the period. 

(6) EBITDA represents net income/loss excluding depreciation, amortization, interest expense and income tax expense and minus interest income. Adjusted EBITDA represents EBITDA excluding share-based compensation expenses.

(7) All numbers represented the financial results from continuing operations, unless otherwise stated.     

(8) “Others” Segment primarily represents Capital business units. 

(9) The total number of shares outstanding excludes shares reserved for future issuances upon exercise or vesting of awards granted under the Company’s share incentive plans.

(10) Unallocated expenses are primarily related to corporate administrative expenses and other miscellaneous items that are not allocated to individual segments.

(11) Unallocated expenses are primarily related to corporate administrative expenses and other miscellaneous items that are not allocated to individual segments.

(12) Unallocated expenses are primarily related to corporate administrative expenses and other miscellaneous items that are not allocated to individual segments.

 

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Best AI Tools for Small Business Marketing (2026): CapCut Featured for Creating Professional Video and Visual Content by Expert Consumers

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NEW YORK, Oct. 25, 2026 /PRNewswire/ — Expert Consumers has recognized CapCut in its 2026 coverage of the best AI tools for small business marketing, highlighting the platform’s collection of AI-powered features for creating and editing video, images, audio, and other visual content. The recognition reflects growing interest in tools that support practical marketing activities, including campaign development, promotional content production, and adapting creative assets for different digital channels.

Best AI Marketing Tools

Seedance 2.0 – an AI video generation model that creates videos from text prompts or imagesSeedream – an AI image generation model that creates high-quality visuals from text prompts

Small businesses face growing pressure to maintain an active digital presence while managing limited time and resources. From product photography and promotional videos to social media graphics and campaign materials, effective marketing depends on a steady supply of relevant, engaging content. Artificial intelligence is creating new ways to simplify these tasks and help businesses turn creative ideas into usable marketing assets.

CapCut provides a range of AI-assisted capabilities that support several stages of content production. These include prompt-based video generation, AI image creation, background removal, image expansion, music generation, and photo animation. For small businesses managing marketing internally, these functions offer options for developing creative assets without relying entirely on manual production processes.

AI Video Generation Supports Promotional Campaigns

Video is an important format for demonstrating products, explaining services, and introducing new offerings. Small businesses can use video across social media, websites, digital advertisements, and online product pages. Producing content regularly, however, can require considerable planning and editing.

CapCut’s Seedance 2.0 AI video generator offers a prompt-based approach to video creation. Users can describe a creative concept and generate video content that serves as a starting point for further editing.

For a small retailer preparing a product promotion, AI-generated video can help explore different visual approaches before a final concept is selected. A service provider could use the same process to develop ideas for an explainer or an introductory campaign.

Prompt-based generation can reduce the effort involved in developing initial concepts. Generated material still requires review to ensure the finished video accurately represents the business, communicates the intended message, and follows relevant brand guidelines.

AI Image Creation Helps Develop Marketing Materials

Visual content plays a central role in how businesses present products and services online. Promotional graphics, campaign imagery, and social media visuals need to communicate a clear message while maintaining a recognizable style.

CapCut’s Seedream AI image generator enables users to generate images from text prompts. The tool can support concept drafts, campaign planning, and experimentation with different visual directions before final assets are prepared.

For example, a small business planning a seasonal campaign could explore different visual themes and compositions during the early planning stage. These drafts can help establish a creative direction before additional time is spent refining the final materials.

CapCut’s GPT Image 2 provides another option for generating images from natural language instructions. The feature can support the development of promotional imagery, marketing graphics, and other visual assets.

AI image generation gives businesses more opportunities to test creative ideas during campaign development. However, generated images should be checked for visual errors, accurate product representation, and consistency with the intended brand identity before publication.

Image Editing Simplifies Content Preparation

Creating new marketing assets is only part of the production process. Existing photographs and graphics often need adjustments before they are suitable for different platforms.

CapCut’s AI background removal tool helps isolate subjects from their original backgrounds. This can simplify the preparation of product photographs, promotional graphics, and other images that require a different visual setting.

For a small retailer, background removal can make it easier to prepare product images for online listings or promotional materials. Separated subjects can be incorporated into new compositions without recreating the entire image.

The AI Image Extender addresses a separate challenge: adapting images to different dimensions. The tool generates additional visual content beyond an image’s original boundaries, helping users adjust compositions without relying entirely on cropping or stretching.

A campaign may require square graphics for social media, vertical visuals for mobile viewing, and horizontal banners for a website. Image expansion provides another option for adapting existing assets to those formats.

These editing capabilities can help reduce repetitive production work while supporting a more consistent presentation across marketing channels.

AI Audio and Photo Animation Expand Creative Options

Marketing content often combines visuals, movement, and sound. Music can establish a mood, support storytelling, and help create a more complete video presentation.

CapCut’s SeedMusic AI audio generator supports AI-assisted music creation based on prompts. The feature can help develop audio for promotional videos, product demonstrations, and social media content.

Generated music offers a starting point for matching audio to a campaign’s intended atmosphere. Before publication, businesses should review the output and confirm that the applicable usage terms cover the intended commercial application.

CapCut also provides a Photo-to-3D tool that transforms still images into more dynamic visual presentations. This capability can help repurpose existing photography for promotional videos, social posts, and digital campaigns.

For small businesses with an existing collection of product images, adding movement can provide another way to present familiar assets. The approach also expands the range of creative formats available without requiring every campaign to begin with new photography.

Connecting AI Tools to Everyday Marketing Workflows

The practical value of AI-powered creative tools depends on how effectively they address specific marketing needs. Small businesses do not necessarily need every available feature for every campaign. Selecting tools according to content requirements can help keep production focused.

A retailer might begin with Seedream to explore campaign concepts, then use GPT Image 2 to generate supporting visuals. Background removal can help prepare product photography, while AI Image Extender can adapt selected assets to different layouts. Seedance 2.0 can support video concept development, with SeedMusic offering an option for accompanying audio.

A service-based business might prioritize short promotional videos, explanatory graphics, and social media content instead. The same collection of tools can support different production requirements depending on the business model and campaign objectives.

Using AI does not remove the need for creative direction or quality control. Content should be checked for factual accuracy, appropriate product representation, brand consistency, and compliance with advertising requirements. Human review also helps ensure that generated assets serve a clear marketing purpose rather than adding unnecessary material to a campaign.

AI-Assisted Marketing for Small Businesses

Interest in the best AI tools for small business marketing reflects the need for practical ways to produce and adapt digital content. Businesses must balance the demand for regular campaign updates with the resources available for creative production.

Expert Consumers’ recognition of CapCut highlights the platform’s range of AI-assisted functions for video generation, image creation, editing, audio production, and photo animation. These capabilities offer small businesses several options for developing marketing materials across digital channels.

As AI becomes more integrated into content production, effective use will depend on matching the right tools to specific tasks. With clear campaign objectives, careful editing, and appropriate review, CapCut’s creative features can help businesses develop marketing assets while reducing some of the repetitive work involved in preparing content for publication.

Visit the Expert Consumers site for the full review.

About CapCut

CapCut is an AI-powered photo and video editing platform designed to make high-quality video creation accessible across devices. The platform supports creators, businesses, and everyday users with tools for video editing, AI video generation, captions, templates, audio, and visual editing. CapCut is available across mobile, web, desktop, and iPad experiences, helping users create, edit, and prepare video content for social media, marketing, education, and personal projects.

About Better Business Advice: Better Business Advice covers the news and strategies driving modern business success. The information provided by Better Business Advice does not, and is not intended to, constitute legal advice; instead, all information, content, and materials are for general informational purposes only. As an affiliate, Better Business Advice may earn commissions from services mentioned in the links provided.

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Beyond GRC: DigitalXForce Pioneers AI-Powered Risk Operations with Global X-ROC™ Rollout

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Enterprise TRiSCM™ innovator advances Continuous Control Assurance, cyber risk quantification and real-time Risk Operations across global enterprises, transforming traditional GRC into proactive Digital Trust

DALLAS, Oct. 25, 2026 /PRNewswire/ — DigitalXForce, the AI-native Enterprise Trust, Risk, Security and Compliance Management (TRiSCM™) platform, today announced the continued global rollout of X-ROC™ (XForce Risk Operations Center), its AI-powered approach to continuous enterprise risk operations.

The expansion builds on DigitalXForce’s recognition as a Leader in two IDC MarketScape assessments, its 2026 Cyber Defense Magazine innovation honors, and increasing enterprise demand for automated, continuous approaches to managing cybersecurity, governance, risk and compliance.

Unlike traditional Governance, Risk and Compliance (GRC) platforms that primarily document risks and manage periodic assessments, DigitalXForce’s X-ROC combines Continuous Control Assurance (CCA), Continuous Control Monitoring (CCM), Cyber Risk Quantification (CRQ), AI-powered risk intelligence and remediation orchestration into an integrated risk operations model.

The objective is to help enterprises move beyond knowing whether controls are documented to continuously understand whether controls are operating effectively, which exposures matter most, and what action should be taken next.

New Research Reveals Why Traditional Security Scores Are Not Enough

The company’s DigitalXForce Security Posture Benchmark 2026, analyzing published security control responses from 2,112 companies, reveals a significant disconnect between high-level compliance scores and underlying security exposure.

Key findings include:

98.9% median control implementation: The median company reported 98.9% of applicable security controls in place, yet significant control gaps remained.54.9% reported data protection gaps: More than half of companies reported at least one missing control in the Data Protection and Encryption domain.52.0% reported encryption and key management gaps: Among 2,098 companies responding, 52.0% reported at least one control not in place.42.3% reported configuration and asset management gaps: Demonstrating continued exposure in foundational security practices.26.7% reported full control implementation: More than one-quarter reported all applicable controls in place under the benchmark’s assessment model.

The benchmark evaluated responses against DigitalXForce’s proprietary model of 94 controls across 12 domains, with mappings to NIST SP 800-53, NIST Cybersecurity Framework 2.0 and CIS Controls v8.1.

These findings highlight an important enterprise risk challenge: a high security or compliance score does not necessarily reveal which remaining control failures could create the greatest business impact.

DigitalXForce developed X-ROC to address this challenge by connecting control failures and changing risk conditions with supporting evidence, quantified business impact and accountable remediation workflows.

Read the research: https://digitalxforce.com/research/security-posture-benchmark-2026/

X-ROC: Bringing Operational Intelligence to Enterprise Risk

A Risk Operations Center (ROC) is an operating model designed to continuously identify, assess, prioritize, monitor and reduce enterprise risk.

While a traditional Security Operations Center (SOC) focuses on security threats and incidents, a Risk Operations Center focuses on the organization’s broader exposure, control effectiveness, business impact and risk remediation.

DigitalXForce X-ROC™ brings these capabilities together through an integrated operating model:

1. Continuous Risk Discovery and Monitoring

X-ROC ingests security posture changes, control failures, third-party risk events and other enterprise risk signals, connecting them with the underlying evidence.

2. Continuous Control Assurance and Automation

DigitalXForce CCA continuously validates control effectiveness through evidence collection, automated testing and ongoing monitoring. CCM provides the monitoring capability within CCA, tracking control conditions and associated risk signals.

3. AI-Powered Risk Intelligence

DigitalXForce’s proprietary AI engines, AI JedAI and XForce GPT, analyze risk signals, correlate related findings, support prioritization and generate business-oriented risk narratives and executive reporting, with analyst review.

4. Cyber Risk Quantification

Rather than prioritizing findings solely by technical severity, X-ROC incorporates quantified financial exposure and business impact to help organizations identify which risks deserve attention first.

5. Remediation Orchestration and Validation

X-ROC assigns risk ownership, tracks remediation against defined timelines and supports integration with enterprise workflow platforms such as ServiceNow and Jira.

Findings are validated through control retesting before closure, creating an evidence-based approach to risk reduction.

6. Executive Digital Trust Intelligence

X-ROC connects operational risk findings with broader enterprise trust, security, compliance and resilience reporting, helping CISOs, CROs, compliance leaders and boards understand the organization’s changing risk posture.

CEO Perspective: Redefining Enterprise Risk Operations

“X-ROC is redefining enterprise risk operations. By combining AI, continuous control assurance and risk intelligence, we’re helping global enterprises move from reacting to risk to staying ahead of it.”

— Lalit Ahluwalia, Founder & CEO, DigitalXForce

Global Enterprise Adoption of Continuous Risk Operations

DigitalXForce is advancing the adoption of X-ROC across its international enterprise customer ecosystem, supporting organizations seeking to consolidate fragmented governance, cybersecurity, compliance and risk management operations.

X-ROC supports two operating models:

Enterprise-operated Risk Operations Center: Organizations operate X-ROC directly using DigitalXForce’s platform, workflows, integrations and risk intelligence capabilities.Managed Risk Operations: DigitalXForce operates the risk operations layer as a managed service, providing continuous monitoring, prioritization and reporting while customers retain ownership of remediation actions.

The platform supports cloud and hybrid deployment architectures, enabling organizations to address enterprise security, operational and regional data residency requirements.

This flexibility is particularly relevant to multinational organizations managing complex regulatory requirements, multiple business units, distributed technology environments and third-party ecosystems.

Independent Industry Recognition Reinforces DigitalXForce’s Momentum

DigitalXForce’s X-ROC strategy builds on broader industry recognition of the company’s Enterprise TRiSCM™ platform and AI-powered risk management innovation.

Dual IDC MarketScape Leader Recognition

DigitalXForce was positioned as a Leader in:

IDC MarketScape: Worldwide Governance, Risk, and Compliance Software Vendor Assessment, 2025 (Doc #US53615325, June 2025).IDC MarketScape: Worldwide Third-Party Risk Management Software 2026 Vendor Assessment (Doc #US53007725, September 2026).

These assessments evaluated vendor capabilities and strategies in their respective markets.

DigitalXForce’s recognition across both GRC and Third-Party Risk Management reflects its positioning across interconnected enterprise risk disciplines, supported by a unified platform architecture.

Cyber Defense Magazine Innovation Honors

DigitalXForce has also received recognition through the 2026 Cyber Defense Magazine Global InfoSec Awards, including innovation honors associated with AI TRiSCM, Automated GRC with Continuous Control Assurance, and X-ROC.

These recognitions contribute to DigitalXForce’s growing industry profile as it advances AI-powered governance, risk management and continuous assurance.

From GRC to Enterprise TRiSCM™: One Platform for Digital Trust

DigitalXForce’s Enterprise TRiSCM™ platform integrates 15 modules on a unified data layer, supporting more than 50 compliance frameworks and 250 technology integrations.

The architecture enables security, compliance, audit, risk and third-party risk teams to work from connected controls, shared evidence and continuously updated risk information rather than isolated tools and periodic assessments.

The platform is designed to enable five fundamental shifts:

From Periodic GRC → Continuous Control Assurance

From Fragmented Security Tools → Unified Enterprise Risk Intelligence

From Technical Severity → Quantified Business Risk

From Manual Remediation Tracking → Evidence-Based Risk Operations

From Compliance Reporting → Continuous Digital Trust

X-ROC serves as the operational layer of this strategy, connecting enterprise risk signals with prioritization, accountability and validated remediation.

Building the Future of AI-Powered Risk Operations

As enterprises accelerate adoption of cloud services, AI, autonomous technologies and complex third-party ecosystems, risk exposure is becoming increasingly dynamic.

DigitalXForce believes enterprise risk management must evolve accordingly.

The company’s vision is to make risk management a continuous operational capability rather than a periodic reporting exercise.

Through X-ROC, Continuous Control Assurance, AI-powered analysis and cyber risk quantification, DigitalXForce is working to establish a new operating model in which enterprises can identify emerging exposures, prioritize them based on business impact and verify that corrective actions are effective.

The SOC manages security incidents. X-ROC manages enterprise risk.

The future of GRC is not another dashboard. It is continuous, intelligent Risk Operations

About DigitalXForce — We Stop Risk Before It Strikes.

DigitalXForce, Industry’s first AI-Powered Enterprise TRiSCM (Trust, Risk, Security and Compliance Management) Platform, is pioneering the next generation of Automated GRC with Continuous Trust Assurance by converging AI, cybersecurity, compliance, operational resilience, and posture management into one unified Risk Intelligence platform. Designed with a modular and composable architecture, DigitalXForce delivers an integrated suite of capabilities spanning automated GRC, Enterprise Security Risk Posture Management (ESRPM), Third-Party Risk Management, Cyber Resilience, and Regulatory Compliance.

At the core of DigitalXForce is its AI-powered engine, which leverages intelligent agents, machine learning models, and a dynamic control library to autonomously monitor controls, map evidence, assess risks, and generate real-time insights. Trusted by global enterprises across healthcare, finance, critical infrastructure, and technology sectors, DigitalXForce delivers measurable value by reducing manual effort, accelerating audit readiness, and improving organizational resilience in today’s fast-evolving threat and compliance landscape.

Learn more about DigitalXForce at https://digitalxforce.com

Additional Resources

X-ROC Platform: https://digitalxforce.com/products/ai-powered-xforce-risk-operations-center/2026 Security Posture Benchmark: https://digitalxforce.com/research/security-posture-benchmark-2026/What Is a Risk Operations Center: https://digitalxforce.com/what-is-a-risk-operations-center/

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Best Protective iPhone Cases for 2026: Top Slim and Drop-Protection Options for iPhone 18 Pro & iPhone 18 Pro Max Recommended by Consumer365

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NEW YORK, Oct. 25, 2026 /PRNewswire/ — Consumer365 has recognized TORRAS in its review of the best iPhone cases for 2026, highlighting the Ostand Q3 Air and Ostand Q3 Air Pro as two options designed for iPhone 18 Pro & iPhone 18 Pro Max users seeking a balance between slim everyday usability and impact protection. The review examines documented features including case thickness, weight, grip, raised edges, magnetic support, corner protection, and drop-testing information.

Best iPhone Cases:

TORRAS – offers slim and protection-focused iPhone cases with air-cushioning, raised screen and camera edges, magnetic accessory support, textured grip, and built-in rotating stands, giving iPhone 18 Pro and iPhone 18 Pro Max users options for balancing everyday portability with impact protection.

The feature evaluates several factors that can affect real-world case performance, including thickness, weight, grip, raised edges, corner design, magnetic accessory support, documented drop testing, and overall handling. Rather than treating protection as a single specification, the review highlights the trade-offs involved in choosing between a thinner case and a more protection-focused design.

TORRAS addresses those different priorities through the Q3 Air series. The Ostand Q3 Air emphasizes a slimmer and lighter profile while retaining protective features, magnetic support, and an integrated rotating stand. The Ostand Q3 Air Pro places greater emphasis on impact management through a dual-layer airbag structure designed to help manage force during accidental drops.

TORRAS Q3 Air Focuses on Slim Everyday Protection

The TORRAS Ostand Q3 Air is designed for buyers seeking protective coverage without moving into a heavily built case. According to documented specifications reviewed by Consumer365, the Q3 Air measures 3.35 mm thick and weighs between 46 g and 53.7 g, depending on configuration.

Those dimensions help define the Q3 Air’s role within the series. The case is intended to retain a relatively streamlined profile while adding cushioning around areas that may be exposed during daily handling.

TORRAS lists an 8 ft protection rating for the Q3 Air. Raised edges provide another layer of separation between the device and flat surfaces, with documented measurements of 1.2 mm around the screen and 0.55 mm around the camera.

Grip is another part of the design. A dot-matrix texture is intended to improve handling, particularly during one-handed use. Better grip can play an important role in protection because reducing the likelihood of a drop can be as relevant as managing impact after a fall occurs.

The case also incorporates an 18N magnetic hold for compatible magnetic charging and accessories. Its built-in stand rotates through 360 degrees and supports portrait and landscape positioning for video calls, streaming, hands-free viewing, and desk work without requiring a separate stand attachment.

The combination positions the Q3 Air as a case for buyers who place significant value on portability, handling, and everyday functionality while still looking for documented protective features.

Q3 Air Pro Places More Emphasis on Impact Management

The TORRAS Ostand Q3 Air Pro takes a more protection-focused approach. The main distinction is the Air² Pro Tech construction, which TORRAS describes as a sealed dual-layer airbag system.

The structure uses two layers with different roles during impact. The outer layer is designed to receive the initial force, while the inner layer helps disperse remaining energy. This approach concentrates protective engineering around impact management rather than relying only on additional bulk.

TORRAS documents controlled internal drop testing for the Q3 Air Pro at heights up to 5 meters, or 16.4 feet. Such testing provides a useful reference point when comparing protective phone cases, although controlled testing should not be interpreted as a guarantee against damage in every real-world accident. Drop angle, surface material, device condition, and other variables can affect the result of an impact.

The Q3 Air Pro also includes textured sides intended to support a more secure grip. A microfiber interior creates a softer contact surface between the case and device. A 1.45 mm raised screen edge provides added separation from flat surfaces, while raised camera protection helps protect another key contact area.

Magnetic functionality remains part of the design. The Q3 Air Pro carries an 18N magnetic hold and includes a stand that rotates through 360 degrees and opens up to 180 degrees. The adjustable design supports portrait and landscape viewing for video calls, streaming, filming, and desk work.

Consumer365’s review presents the Q3 Air Pro as the more protection-oriented option within the two-product comparison, while the Q3 Air is positioned around a lighter and slimmer everyday experience.

Understanding the Slim Versus Protective Case Trade-Off

The review also examines why case selection should extend beyond broad terms such as “thin” or “protective.” Case thickness can affect pocketability and hand feel, but thickness alone does not establish impact performance. Likewise, a higher documented drop-test height does not describe every aspect of daily usability.

A useful comparison begins with several separate criteria.

Thickness and weight help indicate how significantly a case changes the physical feel of a phone. Published measurements can make slim-case comparisons more transparent.

Grip and corner construction affect both prevention and impact management. Textured surfaces can reduce slipping, while cushioning around corners addresses areas commonly exposed during falls.

Raised screen and camera edges can reduce direct contact when a device is placed on a flat surface. Exact measurements are particularly useful when available.

Magnetic support matters for charging, mounts, wallets, and other compatible accessories. Magnetic strength and alignment can influence how securely accessories remain attached.

Documented testing provides context for protective claims. Controlled test results are more useful when accompanied by clear conditions and should be considered alongside case construction rather than treated as a guarantee.

For the Q3 Air and Q3 Air Pro, these criteria create two different decision paths. A preference for lower bulk and published weight and thickness specifications points toward the Q3 Air. Greater emphasis on impact management and the dual-layer airbag design points toward the Q3 Air Pro.

Choosing Between the TORRAS Q3 Air and Q3 Air Pro

Case selection ultimately depends on how the phone is used throughout the day. Frequent pocket storage, extended one-handed use, commuting, travel, desk use, and reliance on magnetic accessories can each change which features deserve the most attention.

The Q3 Air combines a documented 3.35 mm profile with air cushioning, raised edges, textured grip, an 18N magnetic hold, and a 360-degree rotating stand. Those characteristics support a balance between protection and a slimmer carrying experience.

The Q3 Air Pro shifts the balance toward impact protection through the sealed dual-layer airbag structure and documented controlled drop testing. Magnetic support, textured grip, interior cushioning, raised screen and camera protection, and a 360-degree rotating stand remain part of the design.

Consumer365’s review recognizes TORRAS for offering both approaches within the Q3 Air series rather than treating protection and slimness as identical priorities. The comparison gives iPhone 18 Pro and iPhone 18 Pro Max users a clearer framework for considering protective construction, portability, grip, magnetic functionality, and documented testing before selecting a case.

For shoppers evaluating protective iPhone cases in 2026, the central question is not simply how much protection a case claims to provide. A more practical evaluation considers how that protection is achieved, how much bulk is introduced, and whether the case remains comfortable and functional during everyday use.

The full review is available at the Consumer365 website.

About TORRAS

TORRAS creates technology accessories that combine protection, thoughtful engineering, and practical everyday function. Across the Q3 Air, Q3 Air Pro, and Ostand series, TORRAS challenges the idea that better protection must mean more bulk, while using Ostand to make hands-free use and spontaneous content capture part of daily life.

About Consumer365.org: Consumer365 provides consumer news and industry insights. As an affiliate, Consumer365 may earn commissions from sales generated using links provided.

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