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Cheetah Mobile Announces First Quarter 2024 Unaudited Consolidated Financial Results

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BEIJING, June 7, 2024 /PRNewswire/ — Cheetah Mobile Inc. (NYSE: CMCM) (“Cheetah Mobile” or the “Company”), a China-based IT company, today announced its unaudited consolidated financial results for the first quarter ended March 31, 2024.

Management Commentary

Mr. Sheng Fu, Cheetah Mobile’s Chairman and Chief Executive Officer, remarked, “Cheetah Mobile is transforming from a consumer-facing company to an enterprise-facing company. Our acquisition of Beijing OrionStar Technology Co., Ltd. (“Beijing OrionStar”) was an important step in our transformation, bringing us an experienced 2B sales team, strong connections with business customers, and comprehensive large language model (LLM) capabilities. We are strategically focused on developing customized LLM-based apps for enterprises and using these apps to further enhance our enterprise-facing service robots. Our robust AI capabilities and proven success in product development position us well to commercialize the once-in-a-generation opportunity presented by LLMs.”

Mr. Thomas Ren, Cheetah Mobile’s Chief Financial Officer, commented, “We are pleased with our financial performance for the first quarter of 2024, which was largely driven by the successful integration of Beijing OrionStar and robust growth in the AI and others segment. Total revenues increased by 11.6% year over year, reaching RMB190.3 million, with a 62.1% increase in the AI and others segment. Our strategic investments in LLMs and enhancements in operational efficiencies position us well for continued revenue growth and improved margins in the coming quarters.”

First Quarter 2024 Consolidated Financial Results

Total revenues increased by 11.6% year over year and 13.7% quarter over quarter to RMB190.3 million (US$26.4 million) in the first quarter of 2024.

Revenues from the Company’s internet business decreased by 9.4% year over year but increased by 1.2% quarter-over-quarter to RMB109.0 million (US$15.1 million) in the first quarter of 2024. The year-over-year decrease was mainly due to the Company’s proactive approach to shifting its focus from the internet business to enterprise-facing large language-related business. As a result, the Company continued to review its consumer-facing product portfolio and removed products and product features that did not address user’s pain points in the quarter. In the first quarter of 2024, revenues generated from the internet business accounted for 57.3% of total revenues, compared to 70.6% in the same period last year and 64.4% in the previous quarter.Revenues from AI and others increased by 62.1% year over year and 36.3% quarter over quarter to RMB81.3 million (US$11.3 million) in the first quarter of 2024. The growth was primarily driven by an increase in the delivery of the Company’s service robots, following the acquisition of a controlling stake in Beijing OrionStar. In the first quarter of 2024, revenues generated from AI and others accounted for 42.7% of total revenues, compared to 29.4% in the same period last year and 35.6% in the previous quarter.

Cost of revenues increased by 37.0% year over year and 12.8% quarter over quarter to RMB77.0 million (US$10.7 million) in the first quarter of 2024. The increases were primarily attributable to the rise in the hardware-related costs for the Company’s service robots. Non-GAAP cost of revenues increased by 37.1% year over year and 12.7% quarter over quarter to RMB76.9 million (US$10.6 million) in the first quarter of 2024.

Total operating expenses increased by 23.9% year over year and 21.2% quarter over quarter to RMB193.9 million (US$26.9 million) in the first quarter of 2024. The increases primarily resulted from the acquisition of a controlling stake in Beijing OrionStar. Total non-GAAP operating expenses increased by 15.3% year over year and 21.3% quarter over quarter to RMB179.8 million (US$24.9 million) in the first quarter of 2024.

Research and development expenses increased by 26.2% year over year and 44.8% quarter over quarter to RMB57.3 million (US$7.9 million) in the first quarter of 2024, primarily due to higher personnel-related expenses as the Company expanded its R&D team following the acquisition of a controlling stake in Beijing OrionStar. Non-GAAP research and development expenses increased by 11.8% year over year and 41.7% quarter over quarter to RMB50.9 million (US$7.0 million) in the first quarter of 2024.Selling and marketing expenses decreased by 0.5% year over year but increased by 19.7% quarter over quarter to RMB67.9 million (US$9.4 million) in the first quarter of 2024. The quarter-over-quarter increase was primarily due to 1) increased marketing and promotion expenses related to our user acquisition for certain products of our internet business; and 2) increased personnel-related expenses as the Company increased its sales personnel following the acquisition of a controlling stake in Beijing OrionStar. Non-GAAP selling and marketing expenses decreased by 0.8% year over year but increased by 19.8% to RMB67.5 million (US$9.4 million) in the first quarter of 2024.General and administrative expenses increased by 56.7% year over year and 8.9% quarter over quarter to RMB69.1 million (US$9.6 million) in the first quarter of 2024, primarily due to 1) increased personnel-related expenses as the Company increased the number of its G&A personnel following the acquisition of a controlling stake in Beijing OrionStar, 2) increased share-based compensation expenses for our key employees. Non-GAAP general and administrative expenses increased by 42.1% year over year and 11.0% quarter over quarter to RMB61.9 million (US$8.6 million) in the first quarter of 2024.

Operating loss was RMB80.6 million (US$11.2 million) in the first quarter of 2024, compared to RMB42.3 million in the same period last year and RMB60.9 million in the previous quarter. Non-GAAP operating loss was RMB66.4 million (US$9.2 million) in the first quarter of 2024, compared to RMB41.5 million in the same period last year and RMB49.1 million in the previous quarter. The Company widened its operating loss in the quarter because of: 1) its increased personnel-related expenses, and 2) hardware-related costs, which in turn resulted from the acquisition of a controlling stake in Beijing OrionStar.

Share-based compensation expenses were RMB7.6 million (US$1.1 million) in the first quarter of 2024, compared to RMB0.8 million in the same period last year and RMB7.4 million in the previous quarter.

By segment, operating margin excluding share-based compensation expense for internet business was 7.9% in the first quarter of 2024, which improved from 3.1% in the same period last year, but slightly decreased from 8.8% in the previous quarter.

Other expenses, net were RMB7.6 million (US$1.1 million) in the first quarter of 2024, primarily due to loss from the disposal of its subsidiary outside of China.

Net loss attributable to Cheetah Mobile shareholders was RMB80.0 million (US$11.1 million) in the first quarter of 2024, compared to RMB18.6 million in the same period last year and RMB301.2 million in the previous quarter. Non-GAAP net loss attributable to Cheetah Mobile shareholders was RMB65.8 million (US$9.1 million) in the first quarter of 2024, compared to RMB17.8 million in the same period last year and RMB289.4 million in the previous quarter.

Diluted loss per ADS was RMB2.8 (US$0.4) in the first quarter of 2024, compared to RMB0.6 in the same period last year and RMB 10.3 in the previous quarter. Non-GAAP diluted loss per ADS was RMB2.3 (US$0.3) in the first quarter of 2024, compared to RMB0.6 in the same period last year and RMB9.9 in the previous quarter.

Balance Sheet

As of March 31, 2024, the Company had cash and cash equivalents and short-term investments of RMB1,793.2 million (US$248.4 million).

Conference Call Information

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

Main Line:
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
Conference ID: 8764416

English Translation:

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
Conference ID: 0625357

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

Exchange Rate

This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars in this press release were made at a rate of RMB7.2203 to US$1.00, the exchange rate in effect as of March 29, 2024, as set forth in the H.10 statistical release of the Federal Reserve Board. Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under accounting principles generally accepted in the United States of America (“U.S. GAAP”).

About Cheetah Mobile Inc.

Cheetah Mobile is a China-based IT company with a commitment to AI innovation. It has attracted hundreds of millions of users through an array of internet products and services on PCs and mobile devices. At the same time, it actively engages in the independent research and development of its AI technologies, including LLM technologies. Cheetah Mobile provides advertising services to advertisers worldwide, value-added services including the sale of premium membership to its users, multi-cloud management platform to companies globally, as well as service robots to international clients. Cheetah Mobile is also committed to leveraging its cutting-edge AI technologies, including LLM technologies, to empower its products and make the world smarter. It has been listed on the New York Stock Exchange since May 2014.

Safe Harbor Statement

This press release contains forward-looking statements. These statements, including management quotes and business outlook, constitute forward-looking statements under 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. Such statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in the forward-looking statements, including but are not limited to the following: Cheetah Mobile’s growth strategies; Cheetah Mobile’s ability to retain and increase its user base and expand its product and service offerings; Cheetah Mobile’s ability to monetize its platform; Cheetah Mobile’s future business development, financial condition and results of operations; competition with companies in a number of industries including internet companies that provide online marketing services and internet value-added services; expected changes in Cheetah Mobile’s revenues and certain cost or expense items; and general economic and business condition globally and in China. Further information regarding these and other risks is included in Cheetah Mobile’s filings with the U.S. Securities and Exchange Commission. Cheetah Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Use of Non-GAAP Financial Measures

This release contains non-GAAP financial measures, including but not limited to: 

Non-GAAP cost of revenues excludes share-based compensation expensesNon-GAAP gross profit excludes share-based compensation expensesNon-GAAP gross margin excludes share-based compensation expenses.Total non-GAAP operating expenses exclude share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.Non-GAAP research and development expenses exclude share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.Non-GAAP selling and marketing expenses exclude share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.Non-GAAP general and administrative expenses exclude share-based compensation expenses.Non-GAAP operating profit/loss excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.Non-GAAP net income/loss attributable to Cheetah Mobile shareholders excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.Non-GAAP diluted earnings/losses per ADS excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions.Non-GAAP adjusted EBITDA represents net income/loss attributable to Cheetah Mobile shareholders excluding share-based compensation, amortization of intangible assets resulting from business acquisitions, interest income, depreciation and amortization, net income attributable to noncontrolling interests, other income, net and income tax expenses

The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measures for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures are useful supplemental information for investors and analysts to assess its operating performance without the effect of share-based compensation expenses and amortization of intangible assets resulting from business acquisitions, which have been and will continue to be significant recurring expenses in its business. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net income for the period. In addition, because non-GAAP financial measures are not measured 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 measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the tables captioned “Cheetah Mobile Inc. Reconciliation of GAAP and Non-GAAP Results”.

 

 

 

CHEETAH MOBILE INC.

Condensed Consolidated Balance Sheets

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

As of

December 31, 2023

March 31, 2024

RMB

RMB

USD

ASSETS

Current assets:

Cash and cash equivalents

2,020,191

1,792,907

248,315

Short-term investments

1,023

328

45

Accounts receivable, net

401,064

438,596

60,745

Prepayments and other current assets, net

973,127

1,231,793

170,601

Due from related parties, net

71,505

77,408

10,721

Total current assets

3,466,910

3,541,032

490,427

Non-current assets:

Property and equipment, net

53,884

49,531

6,860

Operating lease right-of-use assets

30,451

27,636

3,828

Intangible assets, net

218,559

211,376

29,275

Goodwill

576,989

576,989

79,912

Long-term investments

937,460

933,011

129,221

Deferred tax assets

188,503

189,775

26,284

Other non-current assets

160,428

89,950

12,458

Total non-current assets

2,166,274

2,078,268

287,838

Total assets

5,633,184

5,619,300

778,265

LIABILITIES, MEZZANINE EQUITY
AND SHAREHOLDERS’ EQUITY

Current liabilities:

Bank loans

5,000

5,000

692

Accounts payable

170,185

172,150

23,842

Accrued expenses and other current liabilities

2,437,210

2,400,597

332,479

Due to related parties

84,147

84,508

11,704

Income tax payable

31,603

34,417

4,767

Total current liabilities

2,728,145

2,696,672

373,484

Non-current liabilities:

Deferred tax liabilities

54,540

53,281

7,379

Other non-current liabilities

189,943

180,297

24,971

Total non-current liabilities

244,483

233,578

32,350

Total liabilities

2,972,628

2,930,250

405,834

Mezzanine equity:

Redeemable noncontrolling interests

105,978

183,690

25,441

Shareholders’ equity:

Ordinary shares

244

244

34

Additional paid-in capital

2,711,875

2,716,181

376,187

Accumulated deficit

(613,102)

(693,137)

(95,998)

Accumulated other comprehensive income

356,854

380,940

52,760

Total Cheetah Mobile shareholders’ equity

2,455,871

2,404,228

332,983

Noncontrolling interests

98,707

101,132

14,007

Total equity

2,554,578

2,505,360

346,990

Total liabilities, mezzanine equity and equity

5,633,184

5,619,300

778,265

 

 

 

CHEETAH MOBILE INC.

Condensed Consolidated Statements of Comprehensive Income (Loss)

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per
share(or ADS) data)

For The Three Months Ended

March 31, 2023

December 31, 2023

March 31, 2024

March 31, 2024

RMB

RMB

RMB

USD

Revenues

170,434

167,314

190,288

26,354

     Internet business

120,309

107,711

109,020

15,099

     AI and others

50,125

59,603

81,268

11,255

Cost of revenues (a)

(56,163)

(68,243)

(76,952)

(10,658)

Gross profit

114,271

99,071

113,336

15,696

Operating income and expenses:

Research and development (a)

(45,428)

(39,583)

(57,331)

(7,940)

Selling and marketing (a)

(68,266)

(56,746)

(67,940)

(9,410)

General and administrative (a)

(44,126)

(63,502)

(69,145)

(9,576)

Other operating income/(expense), net

1,271

(185)

508

70

Total operating income and expenses

(156,549)

(160,016)

(193,908)

(26,856)

Operating loss

(42,278)

(60,945)

(80,572)

(11,160)

Other income/(expenses):

Interest income, net

12,342

15,829

15,316

2,121

Foreign exchange gains/ (losses)

14,463

17,407

(3,277)

(454)

Other expense, net

(1,801)

(321,244)

(7,595)

(1,052)

Loss before taxes

(17,274)

(348,953)

(76,128)

(10,545)

Income tax (expenses)/ benefits

(178)

47,760

(198)

(27)

Net loss

(17,452)

(301,193)

(76,326)

(10,572)

Less: net income attributable to noncontrolling interests

1,147

18

3,709

514

Net loss attributable to Cheetah Mobile shareholders

(18,599)

(301,211)

(80,035)

(11,086)

Net loss per share

Basic

(0.0126)

(0.2056)

(0.0549)

(0.0076)

Diluted

(0.0129)

(0.2056)

(0.0550)

(0.0076)

Net loss per ADS

Basic

(0.6300)

(10.2800)

(2.7450)

(0.3800)

Diluted

(0.6450)

(10.2800)

(2.7500)

(0.3800)

Weighted average number of shares outstanding

Basic

1,449,518,133

1,493,550,095

1,494,213,830

1,494,213,830

Diluted

1,449,518,133

1,493,550,095

1,494,213,830

1,494,213,830

Weighted average number of ADSs outstanding

Basic

28,990,363

29,871,002

29,884,277

29,884,277

Diluted

28,990,363

29,871,002

29,884,277

29,884,277

Other comprehensive (loss)/income , net of tax of nil

Foreign currency translation adjustments

(40,018)

(29,112)

21,031

2,913

Unrealized gains on available-for-sale securities, net

–

–

1,772

245

Other comprehensive (loss)/ income

(40,018)

(29,112)

22,803

3,158

Total comprehensive loss

(57,470)

(330,305)

(53,523)

(7,414)

Less: Total comprehensive income attributable to
noncontrolling interests

913

687

2,426

336

Total comprehensive loss attributable to Cheetah Mobile
shareholders

(58,383)

(330,992)

(55,949)

(7,750)

For The Three Months Ended

March 31,
2023

December 31,
2023

March 31,
2024

March 31,
2024

(a) Share-based compensation expenses

RMB

RMB

RMB

USD

Cost of revenues

119

70

92

13

Research and development

(88)

(426)

292

40

Selling and marketing

196

72

(44)

(6)

General and administrative

552

7,714

7,245

1,003

Total

779

7,430

7,585

1,050

 

 

 

CHEETAH MOBILE INC.

Reconciliation of GAAP and Non-GAAP Results

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for per share data)

For The Three Months Ended March 31, 2024

GAAP

Share-based

Amortization of

Non-GAAP

Result

Compensation

intangible assets*

Result

RMB

RMB

RMB

RMB

USD

Revenues

190,288

–

–

190,288

26,354

Cost of revenues

(76,952)

92

–

(76,860)

(10,645)

Gross profit

113,336

92

–

113,428

15,709

Research and development

(57,331)

292

6,156

(50,883)

(7,047)

Selling and marketing

(67,940)

(44)

469

(67,515)

(9,351)

General and administrative

(69,145)

7,245

–

(61,900)

(8,573)

Other operating income, net

508

–

–

508

70

Total operating income and expenses

(193,908)

7,493

6,625

(179,790)

(24,901)

Operating loss

(80,572)

7,585

6,625

(66,362)

(9,192)

Net loss attributable to Cheetah Mobile shareholders

(80,035)

7,585

6,625

(65,825)

(9,118)

Diluted losses per ordinary share (RMB)

(0.0550)

0.0052

0.0043

(0.0455)

Diluted losses per ADS (RMB)

(2.7500)

0.2600

0.2150

(2.2750)

Diluted losses per ADS (USD)

(0.3800)

0.0360

0.0289

(0.3151)

 

For The Three Months Ended December 31, 2023

GAAP

Share-based

Amortization of

Non-GAAP

Result

Compensation

intangible assets*

Result

RMB

RMB

RMB

RMB

Revenues

167,314

–

–

167,314

Cost of revenues

(68,243)

70

–

(68,173)

Gross profit

99,071

70

–

99,141

Research and development

(39,583)

(426)

4,104

(35,905)

Selling and marketing

(56,746)

72

313

(56,361)

General and administrative

(63,502)

7,714

–

(55,788)

Other operating expense, net

(185)

–

–

(185)

Total operating income and expenses

(160,016)

7,360

4,417

(148,239)

Operating loss

(60,945)

7,430

4,417

(49,098)

Net loss attributable to Cheetah Mobile shareholders

(301,211)

7,430

4,417

(289,364)

Diluted losses per ordinary share (RMB)

(0.2056)

0.0051

0.0029

(0.1976)

Diluted losses per ADS (RMB)

(10.2800)

0.2550

0.1450

(9.8800)

 

For The Three Months Ended March 31, 2023

GAAP

Share-based

Non-GAAP

Result

Compensation

Result

RMB

RMB

RMB

Revenues

170,434

–

170,434

Cost of revenues

(56,163)

119

(56,044)

Gross profit

114,271

119

114,390

Research and development

(45,428)

(88)

(45,516)

Selling and marketing

(68,266)

196

(68,070)

General and administrative

(44,126)

552

(43,574)

Other operating income, net

1,271

–

1,271

Total operating income and expenses

(156,549)

660

(155,889)

Operating loss

(42,278)

779

(41,499)

Net loss attributable to Cheetah Mobile shareholders

(18,599)

779

(17,820)

Diluted losses per ordinary share (RMB)

(0.0129)

0.0006

(0.0123)

Diluted losses per ADS (RMB)

(0.6450)

0.0300

(0.6150)

* This represents amortization of intangible assets resulting from business acquisitions.

 

 

 

CHEETAH MOBILE INC.

Information about Segment

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for percentage)

For The Three Months Ended March 31, 2024

Internet Business

AI and others

Unallocated*

Consolidated

RMB

RMB

RMB

RMB

USD

Revenue

109,020

81,268

–

190,288

26,354

Operating profit/(loss)

8,662

(81,649)

(7,585)

(80,572)

(11,160)

Operating margin

7.9 %

(100.5) %

–

(42.3) %

(42.3) %

 

For The Three Months Ended December 31, 2023

Internet Business

AI and others

Unallocated*

Consolidated

RMB

RMB

RMB

RMB

Revenue

107,711

59,603

–

167,314

Operating profit/(loss)

9,489

(63,004)

(7,430)

(60,945)

Operating margin

8.8 %

(105.7) %

–

(36.4) %

 

For The Three Months Ended March 31, 2023

Internet Business

AI and others

Unallocated*

Consolidated

RMB

RMB

RMB

RMB

Revenue

120,309

50,125

–

170,434

Operating profit/(loss)

3,755

(45,254)

(779)

(42,278)

Operating margin

3.1 %

(90.3) %

–

(24.8) %

*Unallocated expenses refer to SBC expenses that are not allocated to individual segments.

 

 

 

CHEETAH MOBILE INC.

Reconciliation from Net Income Attributable to Cheetah Mobile Shareholders to Adjusted EBITDA (Non-GAAP)

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

For The Three Months Ended

March 31, 2023

December 31, 2023

March 31, 2024

March 31, 2024

RMB

RMB

RMB

USD

Net loss attributable to Cheetah Mobile shareholders

(18,599)

(301,211)

(80,035)

(11,086)

Add:

Income tax expenses/ (benefits)

178

(47,760)

198

27

Interest income, net

(12,342)

(15,829)

(15,316)

(2,121)

Depreciation and other amortization(1)

8,833

11,275

12,312

1,705

Net income attributable to noncontrolling interests

1,147

18

3,709

514

Other (income)/ expense, net

(12,662)

303,837

10,872

1,506

Share-based compensation

779

7,430

7,585

1,050

Amortization of intangible assets(2)

–

4,417

6,625

918

Adjusted EBITDA

(32,666)

(37,823)

(54,050)

(7,487)

(1) This represents depreciation and other amortization exclude amortization of intangible assets resulting from
business acquisitions. 

(2) This represents amortization of intangible assets resulting from business acquisitions. 

 

 

 

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SOURCE Cheetah Mobile

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Workday Adaptive Planning Achieves FedRAMP Moderate Authorization to Support Federal Workforce and Budget Planning

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18 minutes ago

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July 23, 2026

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New Milestone Helps Federal Agencies Plan Workforce and Budgets in One Secure, Modern System

WASHINGTON, July 23, 2026 /PRNewswire/ — Workday Government, a wholly owned subsidiary of Workday, Inc. (NASDAQ: WDAY), the enterprise AI platform for HR, finance, and IT, today announced that Workday Adaptive Planning has achieved FedRAMP Authorization at the Moderate Impact Level. The authorization confirms that Workday Adaptive Planning meets the security and compliance standards required to handle sensitive, unclassified federal data, giving agencies a secure, compliant foundation for modern planning.

Federal agencies are under pressure to do more with less, manage costs, and maintain clear records of their decisions. Yet disconnected data, legacy systems, and manual spreadsheet work can make it hard to understand how organizational decisions affect the workforce. Workday Adaptive Planning helps agencies modernize planning by bringing workforce planning, budgeting, and forecasting together so agencies can plan with connected workforce and financial data.

“Federal agencies must align their people, funding, and priorities to deliver their missions effectively,” said Lynn Martin, general manager, Workday Government. “With FedRAMP Moderate authorization, Workday Adaptive Planning gives agencies the secure foundation they need to unify workforce and financial planning. This clarity allows leaders to evaluate trade-offs, allocate resources with impact, and prepare confidently for what lies ahead.”

With Workday Adaptive Planning, agencies can model and assess the workforce implications of organizational change, such as hiring freezes, budget reductions, or reorganizations, to understand the potential effects on headcount, costs, project timelines, and mission readiness. Agencies can also use workforce data to identify talent trends and skills gaps. Finance teams can evaluate competing program requests, allocate costs across funds and programs, monitor budgets throughout the procurement lifecycle, and identify potential overruns earlier. Built-in audit capabilities and FIPS 140-3 compliant security help agencies strengthen fiscal discipline, maintain compliance, and make faster, better-informed decisions.

“Federal agencies need a planning tool they can trust to protect their data and still move fast,” said Ben Pierce, general manager, Workday Adaptive Planning. “With FedRAMP authorization, Workday Adaptive Planning gives them a secure, modern way to make budgeting and workforce planning less painful and a lot more useful.”

As part of Workday Government Cloud, Workday Adaptive Planning works alongside Workday human capital management and financial solutions, helping agencies plan with connected data. By bringing planning into the same platform that powers HR and finance, Workday Government helps agencies move beyond systems that simply record work to a modern, connected foundation for planning safely and collaboratively.

Workday Adaptive Planning is expected to be available to Workday Government customers in early 2027.

For More Information

Explore how Workday Adaptive Planning gives government organizations the power to plan, budget, and forecast the future here.Learn about the mission of Workday Government here.

About Workday Government
Workday Government is a wholly owned subsidiary of Workday, the enterprise AI platform for HR, finance, and IT. Workday Government is dedicated to serving the U.S. government by unifying HR and finance on one intelligent platform with AI at the core, empowering agencies at every level with the clarity, confidence, and insights they need to adapt quickly, make better decisions, and deliver on their missions. Workday Government supports a range of agencies across the civilian, defense, and intelligence communities. For more information about Workday Government, visit workday.com/federal. For more information about Workday visit workday.com.

Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday’s plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission (“SEC”), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law.

Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.

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SOURCE Workday Inc.

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Ontinue Wins Gold Stevie® Award for Advancing the Future of Managed Security Operations

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18 minutes ago

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July 23, 2026

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Recognition Honors the Innovation Behind Ontinue’s Agentic SOC, Where AI Agents And Expert Cyber Defenders Work Together to Deliver Autonomous, Governed Security Operations

ZURICH, July 23, 2026 /PRNewswire/ — Ontinue, a leading MXDR partner providing nonstop managed security operations through its Agentic SOC, today announced it received a Gold Stevie® for Technology Excellence Award, recognizing the innovation behind its ION MXDR platform and Agentic SOC. The award was presented in the New Product of the Year – Information Technology (Cybersecurity) category, honoring Ontinue’s continued advancement of AI-powered security operations.

Ontinue was recognized for pioneering the Agentic SOC, a new operating model that treats security decision-making itself as software: governed, measurable, and built to scale with attackers who now operate at machine speed. Rather than layering AI onto existing workflows, Ontinue re-engineered its ION MXDR platform around a multi-agent architecture, with specialized agents spanning threat hunting, investigation, response, and posture hardening, that reason over each customer’s accumulated context and progressively take on more decision-making as trust is earned, while Ontinue’s Cyber Defenders retain governance and accountability throughout.

Ontinue defines an Agentic SOC as a security operations model in which software agents progressively assume responsibility for security decisions and actions, under continuous human governance, using accumulated context, policy, and learned behavior. In December 2024, this model went live in production for every ION MXDR customer, extending autonomous investigation to Tier 2-level incidents for the first time in the industry. The result is a platform that acts less like a tool and more like a team.

Ontinue’s Agentic SOC, by the numbers:

Autonomously investigates incidents within minutesCuts mean time to investigate by 50 percentResolves 99.5 percent of incidents without customer involvementDrives median response time for high-severity incidents under nine minutesPre-approves 97 percent of response actions, based on trust earned directly from customers

For Ontinue’s customers, that translates directly into business outcomes, such has stronger Secure Scores, security teams freed from alert fatigue, and hundreds of analyst hours returned to work that actually moves the business forward.

“The cybersecurity industry doesn’t need more AI features, it needs a fundamentally better way to operate security,” said Moritz Mann, Chief Executive Officer at Ontinue. “This recognition validates the work our teams have done over the past two years to transform AI from an assistant into a trusted operational capability. It’s recognition of an operating model that is already delivering measurable outcomes for customers every day.”

“We congratulate all of the winners in the third annual Stevie® Awards for Technology Excellence for their outstanding achievements,” said Stevie Awards President Maggie Miller. “Their innovations are helping shape the future of technology across every industry, and we look forward to celebrating their success on October 28.”

The Stevie Awards for Technology Excellence celebrate the remarkable accomplishments of individuals, teams, and organizations shaping the future of technology across all industry sectors. More than 700 nominations from organizations of all sizes in 37 nations and territories were submitted this year for consideration in a wide range of tech-related categories. More than 180 professionals worldwide participated in the judging process to select this year’s honorees.

Details about the Stevie Awards for Technology Excellence and the list of 2026 Stevie winners are available at http://Tech.StevieAwards.com.

About Ontinue
As a leading provider of AI-powered managed security operations, Ontinue is on a mission to give every organization the freedom to focus on what they do best; by making nonstop security excellence accessible, not just aspirational. By combining advanced AI with deep human expertise, Ontinue delivers managed security operations that are tailored to each organization’s unique environment, operational needs, and risk profile.

Ontinue’s ION SecOps Platform integrates AI-driven insights, automation, and real-time collaboration to continuously prevent, detect, and respond to threats. With deep expertise in Microsoft security technologies, Ontinue helps customers maximize the value of their existing investments while achieving stronger, more scalable security outcomes.

Continuous protection. AI-powered Nonstop SecOps. That’s Ontinue.

About the Stevie Awards
Stevie Awards are conferred in nine programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Great Employers, the Stevie Awards for Women in Business, the Stevie Awards for Technology Excellence and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.

CONTACT: Alison Raymond, araymond@ontinue.com 

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SOURCE Ontinue

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Technology

New Harris Poll and Ruth AI Study: 81% of Americans Would Let an AI Agent Handle Part of Their Job Search

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18 minutes ago

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July 23, 2026

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Nearly half would let AI negotiate their salary, while 76% have never heard that AI can provide biased career guidance

SAN FRANCISCO, July 23, 2026 /PRNewswire/ — Artificial intelligence has become a mainstream source of career and financial advice for American workers, according to a national survey of 2,131 U.S. adults conducted by The Harris Poll in collaboration with Ruth AI, the AI career strategist built for women.

The full study, The Trust Gap, is available at https://ruthapp.ai/research and has already drawn coverage from Fast Company.

Nearly half of Americans (45%) have used an AI platform such as ChatGPT, Claude, or Gemini for career or work-related advice. That rises to 66% of Millennials and 63% of Gen Z. One in three U.S. adults has used AI for advice about money at work, including salary, raises, bonuses, or negotiating pay.

Americans are also increasingly willing to let AI act on their behalf. Eighty-one percent would be comfortable having an AI agent handle at least one part of a job search, climbing to 90% of Millennials. A majority would let AI search for jobs (67%), conduct pre-interview research (67%), update their resume (65%), or apply for jobs outright (55%). Nearly half would let AI negotiate their benefits (49%) or salary (47%).

Yet awareness of the technology’s documented limitations remains low. Three in four Americans (76%) had never heard that independent research has found AI can produce biased career and salary guidance. Seventy-two percent agree that AI can sound confident even when its advice turns out to be wrong.

“Americans are handing AI some of the most consequential decisions of their working lives, from the job search to the salary ask, while most have never heard that the guidance can carry bias,” said Valerie Chapman, founder and CEO of Ruth AI. “We are delegating faster than we are asking questions. The responsibility now falls on the people building AI to earn the trust users are already giving it.”

About the Survey

The survey was conducted online within the United States by The Harris Poll from June 11-13, 2026, among a nationally representative sample of 2,131 U.S. adults, including 420 Gen Z adults, 620 Millennials, 519 Gen X adults, and 572 Baby Boomers. Data were weighted to the U.S. general adult population. Some questions were asked only of respondents who had used AI for the relevant purpose. References to research on biased AI guidance refer to external academic research (Sorokovikova, Chizhov, Eremenko & Yamshchikov, 2025; arXiv:2506.10491) and are not findings measured by this survey.

About The Harris Poll Thought Leadership Practice

Building on more than 60 years of experience pulsing societal opinion, The Harris Poll Thought Leadership Practice designs research that is credible, creative, and culturally relevant, driving thought leadership and uncovering trends for today’s biggest brands.

About Ruth AI

Ruth AI is an AI career strategist built for women, on a mission to close the $1.6 trillion gender wage gap. Based in San Francisco, Ruth AI is building a suite of AI agents that help women build personal brands, negotiate their worth, and launch their businesses. Learn more at https://ruthapp.ai.

Media Contact

Valerie Chapman
Founder and CEO, Ruth AI
419380@email4pr.com
786-375-1110

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SOURCE Ruth AI

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