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Fly-E Group, Inc. Announces Fiscal Year 2024 Financial Results

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2 years ago

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NEW YORK, July 1, 2024 /PRNewswire/ — Fly-E Group, Inc. (Nasdaq: FLYE) (“Fly-E” or the “Company”), an electric vehicle company engaged in designing, installing and selling smart electric motorcycles, electric bikes, electric scooters, and related accessories, today announced its financial results for the fiscal year ended March 31, 2024.

Mr. Zhou (Andy) Ou, Chairman and Chief Executive Officer of Fly-E, remarked, “We are thrilled to present our robust inaugural financial results for fiscal year 2024 following our IPO in June 2024. Our net revenues and gross profit surged by an impressive 47.9% and 58.1%, respectively, for fiscal year 2024. This growth has been accompanied by an improvement in our gross profit margin from 38.1% to 40.7%. Despite the challenges posed by inflation, which has led to higher labor and raw material costs that have impacted profitability and customer demand, our income from operations and net income still rose significantly by 41.0% and 37.5%, respectively. Our EBITDA also saw a significant increase of 43.2%, reaching $3.5 million. All these impressive numbers demonstrate the success of our adept management team in their oversight of our pricing strategies and sales enhancement, supplier diversification, logistics optimization, and continuous upgrading of our product portfolio. These efforts collectively reinforce our brand and position in the market. As a fast-growing EV company with eco-friendliness at our core, we are focused on expanding into new territories through online sales and diversifying our product offerings to meet ever-evolving customer demands and travel scenarios. We will continue to invest in our intelligent management service mobile software, the Fly E-Bike app, to further enhance the customer experience. Looking ahead, we are committed to ongoing innovation and expanding our sales network to create greater long-term growth for our company.”

Fiscal Year 2024 Financial Highlights

Net revenues were $32.2 million in fiscal year 2024, an increase of 47.9% from $21.8 million in fiscal year 2023.Gross profit was $13.1 million in fiscal year 2024, an increase of 58.1% from $8.3 million in fiscal year 2023.Gross margin was 40.7% in fiscal year 2024, increased from 38.1% in fiscal year 2023.Income from operations was $3.3 million in fiscal year 2024, an increase of 41.0% from $2.3 million in fiscal year 2023.Net income was $1.9 million in fiscal year 2024, an increase of 37.5% from $1.4 million in fiscal year 2023.Basic and diluted earnings per share were $0.09 in fiscal year 2024, increased from $0.06 in fiscal year 2023.EBITDA was $3.5 million in fiscal year 2024, an increase of 43.2% from $2.4 million in fiscal year 2023.

Fiscal Year 2024 Financial Results

Net Revenues

Net revenues were $32.2 million in fiscal year 2024, an increase of 47.9% from $21.8 million in fiscal year 2023. The increase was driven primarily by the increase of the average sale price of EVs by 2.0%, from $941 in fiscal year 2023 to $960 in fiscal year 2024, and the increase in sales volume of EVs by 7,389 units, from 11,263 units in fiscal year 2023 to 18,652 units in fiscal year 2024.

Retail sales revenue was $26.4 million in fiscal year 2024, an increase of 40.0% from $18.8 million in fiscal year 2023. Wholesale revenue was $5.8 million in fiscal year 2024, an increase of 98.5% from $2.9 million in fiscal year 2023.

Cost of Revenues

Cost of revenues was $19.1 million in fiscal year 2024, an increase of 41.6% from $13.5 million in fiscal year 2023. The increase in cost of revenues was primarily attributable to the increase in sales volume mentioned above and increase in logistics costs as the Company sourced and imported more EV parts and accessories outside the United States during the year ended March 31, 2024.

Gross Profit

Gross profit was $13.1 million in fiscal year 2024, an increase of 58.1% from $8.3 million in fiscal year 2023. Gross margin was 40.7% in fiscal year 2024, increased from 38.1% in fiscal year 2023. The increase in gross profit and gross margin was a result of higher average per unit selling price, increasing from $941 in fiscal year 2023 to $960 in fiscal year 2024. These improvements were driven by product upgrades, enhanced sales channels, and an improved brand image in the market.

Total Operating Expenses

Total operating expenses were $9.8 million in fiscal year 2024, an increase of 64.7% compared to $6.0 million in fiscal year 2023. The increase was attributable to the increase in the payroll expenses, rent expenses, meals and entertainment expenses, professional fees, and development expenses as the Company expanded its business.

Selling expenses were $5.9 million in fiscal year 2024, compared to $3.7 million in fiscal year 2023. Selling expenses primarily consist of payroll expenses, rent and utilities expenses of retail stores and other sales and marketing expenses. Total payroll expenses were $1.6 million in fiscal year 2024, compared to $1.4 million in fiscal year 2023. Rent expenses were $2.4 million in fiscal year 2024, compared to $1.7 million in fiscal year 2023. Because delivery drivers are the Company’s main retail customers, customer referral is the most effective way to market promotion. August through November is the low-season comparing to other months, as such, the Company focuses on client referrals during this period to boost sales. As a result, our marketing referral expense increased to $1.1 million in fiscal year 2024, compared to $15,756 in fiscal year 2023. Utilities expenses were $0.16 million in fiscal year 2024, compared to $0.13 million in fiscal year 2023. The increase in these expenses was primarily due to the increase in the number of new stores and new employees hired for these new stores in fiscal year 2024.General and administrative expenses were $3.9 million in fiscal year 2024, compared to $2.3 million in fiscal year 2023. Meals and entertainment expenses increased to $0.4 million in fiscal year 2024, compared to $0.3 million in fiscal year 2023, primarily due to increased meal expenses for employees who worked overtime. Professional fees increased to $1.0 million in fiscal year 2024, compared to $0.7 million in fiscal year 2023, primarily attributable to the increase in audit fee, consulting fee, and legal expenses associated with the Company’s initial public offering. Payroll expenses increased to $1.1 million in fiscal year 2024 from $0.5 million in fiscal year 2023 primarily due to additional employees hired in operation and accounting departments. Rent expenses increased to $0.2 million in fiscal year 2024, compared to $0.1 million in fiscal year 2023 as a result of office space expansion in fiscal year 2024.

Net Income

Net income was $1.9 million in fiscal year 2024, an increase of 37.5% from $1.4 million in fiscal year 2023, mainly attributable to the reasons discussed above.

Basic and Diluted Earnings per Share

Basic and diluted earnings per share were $0.09 in fiscal year 2024, increased from $0.06 in fiscal year 2023.

EBITDA

EBITDA was $3.5 million in fiscal year 2024, an increase of 43.2% from $2.4 million in fiscal year 2023.

Financial Condition

As of March 31, 2024, the Company had cash of $1.4 million, increased from $0.4 million as of March 31, 2023. 

Net cash provided by operating activities was $4.3 million in fiscal year 2024, compared to $1.8 million in fiscal year 2023.

Net cash used in investing activities was $3.2 million in fiscal year 2024, compared to $0.4 million in fiscal year 2023.

Net cash used in financing activities was $0.05 million in fiscal year 2024, compared to $1.4 million in fiscal year 2023.

Recent Development

On June 7, 2024, the Company completed its initial public offering (the “Offering”) of 2,250,000 shares of common stock, at a price of $4.00 per share. On June 25, 2024, the underwriter of the Offering exercised its over-allotment option in full to purchase an additional 337,500 shares of the Company’s common stock at the public offering price of $4.00 per share. After giving effect to the full exercise of the over-allotment option, the Company sold an aggregate 2,587,500 shares of its common stock for aggregate gross proceeds of $10.35 million, before deducting underwriter discounts, commissions and other related expenses. The Company’s shares of common stock began trading on the Nasdaq Capital Market under the symbol “FLYE” on June 6, 2024.

About Fly-E Group, Inc.

Fly-E Group, Inc. is an electric vehicle company that is principally engaged in designing, installing and selling smart electric motorcycles, electric bikes, electric scooters and related accessories under the brand “Fly E-Bike.” The Company’s commitment is to encourage people to incorporate eco-friendly transportation into their active lifestyles, ultimately contributing towards building a more environmentally friendly future. For more information, please visit the Company’s website: https://investors.flyebike.com. 

Non-GAAP Financial Measures

To supplement the Company’s financial information presented in accordance with the generally accepted accounting principles in the United States (the “U.S. GAAP”), management periodically uses certain “non-GAAP financial measures,” as such term is defined under the rules of the SEC, to clarify and enhance understanding of past performance and prospects for the future. Generally, a non-GAAP financial measure is a numerical measure of a company’s operating performance, financial position or cash flows that excludes or includes amounts that are included in or excluded from the most directly comparable measure calculated and presented in accordance with U.S. GAAP. For example, non-GAAP measures may exclude the impact of certain items such as acquisitions, divestitures, gains, losses and impairments, or items outside of management’s control. Management believes that the following non-GAAP financial measure provides investors and analysts useful insight into its financial position and operating performance. Any non-GAAP measure provided should be viewed in addition to, and not as an alternative to, the most directly comparable measure determined in accordance with U.S. GAAP. Further, the calculation of these non-GAAP financial measures may differ from the calculation of similarly titled financial measures presented by other companies and therefore may not be comparable among companies.

The Company uses EBITDA (earnings before interest, taxes, depreciation, and amortization) to evaluate its operating performance. The Company believes EBITDA provides additional insight into its underlying, ongoing operating performance and facilitates year-to-year comparisons by excluding the earnings impact of interest, tax, depreciation and amortization and that presenting EBITDA is more representative of its operational performance and may be more useful for investors.

The Company reconciles its non-GAAP financial measure to its net income, which is its most directly comparable financial measure calculated and presented in accordance with U.S. GAAP. EBITDA includes adjustments for provision for income taxes, as applicable, interest income and expense, depreciation, and amortization. EBITDA does not represent and should not be considered an alternative to net income as determined by U.S. GAAP, and its calculations thereof may not be comparable to those reported by other companies. The Company believes EBITDA is an important measure of operating performance and provides useful information to investors because it highlights trends in its business that may not otherwise be apparent when relying solely on U.S. GAAP measures and because it eliminates items that have less bearing on its operating performance. EBITDA, as presented herein, is a supplemental measure of its performance that is not required by, or presented in accordance with, U.S. GAAP. The Company uses non-GAAP financial measures as supplements to its U.S. GAAP results in order to provide a more complete understanding of the factors and trends affecting its business. EBITDA is a measure of operating performance that is not defined by U.S. GAAP and should not be considered a substitute for net (loss) income as determined in accordance with U.S. GAAP.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results, and that the forward-looking statements contained in this press release are subject to the risks set forth in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the section under “Risk Factors” of its most recent Annual Report on Form 10-K for the fiscal year ended March 21, 2024, filed with the SEC on June 28, 2024. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

For investor and media inquiries, please contact:

Fly-E Group, Inc.
Investor Relations Department
Email: ir@flyebike.com

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

 

FLY-E GROUP, INC.

CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. dollars, except for the number of shares)

March 31,
2024

March 31,
2023

ASSETS

Current Assets

Cash

$

1,403,514

$

358,894

Accounts receivable

212,804

389,077

Accounts receivable – related parties

326,914

136,565

Inventories, net

5,364,060

3,838,754

Prepayments and other receivables

588,660

782,819

Prepayments and other receivables – related parties

240,256

—

Total Current Assets

8,136,208

5,506,109

Property and equipment, net

1,755,022

785,285

Security deposits

781,581

424,942

Deferred IPO costs

502,198

75,819

Deferred tax assets, net

35,199

211,100

Operating lease right-of-use assets

16,000,742

10,261,556

Intangible assets, net

36,384

—

Long-term prepayment for property

450,000

—

Long-term prepayment for software development– related parties

1,279,000

—

Total Assets

$

28,976,334

$

17,264,811

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities

Accounts payable

$

1,180,796

$

1,005,401

Current portion of long-term loan payables

1,213,242

412,224

Accrued expenses and other payables

925,389

365,662

Other payables – related parties

92,229

332,481

Operating lease liabilities – current

2,852,744

1,836,737

Taxes payable

1,530,416

959,456

Total Current Liabilities

7,794,816

4,911,961

Long-term loan payables

412,817

723,228

Long-term loan payables – related parties

—

150,000

Operating lease liabilities – non-current

13,986,879

8,979,193

Total Liabilities

22,194,512

14,764,382

Commitment and Contingencies

Stockholders’ Equity

Preferred stock, $0.01 par value, 4,400,000 shares authorized and nil
   outstanding as of March 31, 2024 and March 31, 2023*

—

—

Common stock, $0.01 par value, 44,000,000 shares authorized and
   22,000,000 shares outstanding as of March 31, 2024 and March 31,
   2023*

220,000

220,000

Additional Paid-in Capital

2,400,000

—

Shares Subscription Receivable

(219,998)

(219,998)

Retained Earnings

4,395,649

2,500,427

Accumulated other comprehensive loss

(13,829)

—

Total FLY-E Group, Inc. Stockholders’ Equity

6,781,822

2,500,429

Total Liabilities and Stockholders’ Equity

$

28,976,334

$

17,264,811

 

*

Shares and per share data are presented on a retroactive basis to reflect the nominal share issuance 
on December 21, 2022 and to give effect to the stock split completed on April 2, 2024.

 

 

FLY-E GROUP, INC.

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Expressed in U.S. dollars, except for the number of shares)

For the Years Ended
March 31,

2024

2023

Revenues

$

32,205,666

$

21,774,937

Cost of Revenues

19,099,120

13,485,405

Gross Profit

13,106,546

8,289,532

Operating Expenses

Selling Expenses

5,914,786

3,667,227

General and Administrative Expenses

3,931,203

2,309,927

Total Operating Expenses

9,845,989

5,977,154

Income from Operations

3,260,557

2,312,378

Other Expenses, net

(30,352)

(11,524)

Interest Expenses, net

(152,050)

(100,387)

Income Before Income Taxes

3,078,155

2,200,467

Income Tax Expense

(1,182,933)

(821,896)

Net Income

$

1,895,222

$

1,378,571

Other Comprehensive Income (Loss)

Foreign currency translation adjustment

(13,829)

—

Total Comprehensive Income

$

1,881,393

$

1,378,571

Earnings per Share*

$

0.09

$

0.06

Weighted Average Number of Common Stock

– Basic and Diluted*

22,000,000

22,000,000

 

*

Shares and per share data are presented on a retroactive basis to reflect the nominal share issuance
on December 21, 2022 and to give effect to the stock split completed on April 2, 2024.

 

 

FLY-E GROUP, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in U.S. dollars, except for the number of shares)

For the Years Ended
March 31,

2024

2023

Cash flows from operating activities

Net income

$

1,895,222

$

1,378,571

Adjustments to reconcile net income to net cash provided by operating
activities:

Loss on disposal of property, and equipment

46,084

—

Depreciation expense

272,708

145,783

Amortization expense

1,648

—

Deferred income taxes expenses

176,093

448,800

Amortization of operating lease right-of-use assets

2,277,910

1,905,028

Loss from termination of operating lease

5,957

—

Inventories reserve

456,209

151,378

Changes in operating assets and liabilities:

Accounts receivable

176,273

(334,752)

Accounts receivable – related parties

(190,349)

(136,565)

Inventories

(1,981,515)

615,394

Prepayments and other receivables

194,160

(637,630)

Prepayments for operation services to related parties

(60,000)

—

Security deposits

(422,240)

(130,680)

Accounts payable

2,489,025

(70,928)

Accrued expenses and other payables

334,726

(105,097)

Operating lease liabilities

(1,933,760)

(1,697,190)

Taxes payable

570,769

225,027

Net cash provided by operating activities

4,308,920

1,757,139

Cash flows from investing activities

Purchases of equipment

(1,253,555)

(442,915)

Purchases of property rights

(38,032)

—

Prepayments for property

(450,000)

—

Prepayment for purchasing software from a related party

(1,279,000)

—

Payment received from a related party

111,500

—

Advance to a related party

(291,756)

—

Net cash used in investing activities

(3,200,843)

(442,915)

Cash flows from financing activities

Borrowing from loan payables

1,095,000

1,500,000

Repayments of loan payables

(639,367)

(278,222)

Repayments on other payables – related parties

(290,252)

(2,496,323)

Payments of related party loan

(150,000)

—

Deferred IPO Cost

(201,379)

(75,819)

Capital contributions from Stockholders

136,370

—

Net cash used in financing activities

(49,628)

(1,350,364)

Net changes in cash

1,058,449

(36,140)

Effect of exchange rate changes on cash

(13,829)

—

Cash at beginning of the year

358,894

395,034

Cash at the end of the year

$

1,403,514

$

358,894

Supplemental disclosure of cash flow information

Cash paid for interest expense

$

152,050

$

100,341

Cash paid for income taxes

$

435,881

$

148,064

Supplemental disclosure of non-cash investing and financing activities

Settlement of accounts payable by related parties

$

50,000

$

—

Settlement of accounts payable by capital contribution

$

2,263,630

$

—

Purchase of vehicle funded by loan

$

34,974

$

—

Unpaid deferred IPO cost

$

225,000

$

11,717

Termination of operating lease right-of-use assets and operating lease
liabilities

$

(2,814,235)

—

Right-of-use assets obtained in exchange for operating lease liabilities

$

10,771,688

$

4,082,664

The following table sets forth the components of our EBITDA for the years ended March 31, 2024 and 2023:

For the Year Ended March 31,

2024

2023

Change

Percentage
Change

Net Income from Operations

$

1,895,222

$

1,378,571

$

516,651

37.5

%

Income Tax Provision

1,182,933

821,896

361,037

43.9

%

Depreciation

272,708

145,783

126,925

87.1

%

Interest Expenses

152,050

100,387

51,663

51.5

%

Amortization

1,648

—

1,648

100

%

EBITDA

$

3,504,561

$

2,446,637

$

1,057,924

43.2

%

Percentage of Revenue

10.9

%

11.2

%

(0.3)

%

 

 

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SOURCE Fly-E Group, Inc.

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Vettisure Launches to Redefine Healthcare Compliance Intelligence with Cleaner Data, Flexible Access Models, and a Patient-First Mission

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June 19, 2026

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SPANISH FORK, Utah, June 19, 2026 /PRNewswire-PRWeb/ — Vettisure today announced its official launch, introducing a modern approach to healthcare compliance intelligence built to meet the evolving needs of healthcare organizations, credentialing entities, consumer reporting agencies (CRAs), and healthcare technology platforms.

Founded by industry veterans with decades of experience in healthcare credentialing and compliance, Vettisure was created to address growing frustration with legacy providers that often deliver noisy data, inflexible pricing, and outdated technology.

“Throughout my career, one thought kept resurfacing: there’s got to be another way,” said Questin Francis, Founder and Chief Executive Officer of Vettisure. “Healthcare organizations need more than access to data. They need intelligence they can trust. They need cleaner results, greater transparency, and partners who understand the importance of protecting patients and maintaining compliance. That’s why we built Vettisure.”

Vettisure provides comprehensive healthcare compliance intelligence designed to support safer staffing decisions and stronger compliance programs. The company’s solutions include federal and state exclusion screening, board actions and sanctions, abuse registries, and other critical datasets healthcare organizations rely upon to mitigate risk and maintain regulatory compliance.

Unlike traditional providers that simply aggregate and distribute data, Vettisure focuses on transforming primary-source information into actionable intelligence. The company leverages advanced technologies and expert validation processes to reduce false positives, improve usability, and provide clients with the context needed to make informed decisions.

Key capabilities include:

Comprehensive federal and state exclusion screeningExtensive board action and disciplinary data coverageAccess to underlying board documentation and source records, where availableAI-generated summaries and contextual insights that simplify complex findingsFlexible API, batch, and data lease delivery modelsData-only and fully verified service optionsOne-time searches and continuous monitoring capabilitiesEnterprise-grade security controls designed to meet SOC 2 Type II requirements

Vettisure’s flexible commercial approach also differentiates the company from traditional providers. In addition to transaction-based services, Vettisure offers subscription and data lease models that provide organizations with predictable costs and the ability to integrate compliance intelligence more deeply into their operational workflows.

“We believe better data leads to better decisions—and better decisions protect patients,” Francis added. “Every credentialing decision represents a moment of trust. By delivering clean, auditable, and actionable intelligence, we’re helping organizations strengthen compliance programs, reduce administrative burden, and focus on what matters most: delivering safe, high-quality care.”

Healthcare organizations face increasing pressure from regulators, accreditation bodies, and patients to demonstrate robust compliance practices and maintain effective oversight of their workforces. Vettisure was built to help organizations meet those expectations through modern technology, responsive partnership, and a relentless focus on data quality.

To learn more about Vettisure, request a sample report, or schedule a conversation, visit Vettisure.com.

About Vettisure

Vettisure is a healthcare compliance intelligence company providing primary-sourced, auditable, and actionable data to healthcare organizations, credentialing entities, consumer reporting agencies, and healthcare technology platforms. Through comprehensive exclusion screening, board action intelligence, continuous monitoring, and flexible delivery models, Vettisure empowers organizations to make confident decisions, reduce risk, maintain compliance, and protect patients.

For media inquiries, please contact:

Nick Fishman

IQubed Advisors

847 707 8775

Media Contact

Nick Fishman, IQubed Advisors, 1 847 707 8775, nfishman@iqubedadvisors.com

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SOURCE Vettisure

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Rapta Establishes Florida Regional Headquarters in Orlando to Support Mission-Critical Manufacturing

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New Orlando location strengthens Rapta’s ability to serve aerospace, defense, space, and advanced manufacturing customers across a critical U.S. innovation corridor.

ORLANDO, Fla., June 19, 2026 /PRNewswire/ — Rapta®, a point-of-build Manufacturing Intelligence company that transforms expert-dependent manual work into repeatable, measurable, source-of-build evidence and governed outcomes at scale, today announced the establishment of its Florida Regional Headquarters in Orlando. The new location expands Rapta’s ability to support aerospace, defense, space, and advanced manufacturing customers across Florida and the broader Eastern United States as manufacturers work to accelerate production ramp-rates, expand capacity, and strengthen workforce performance.

Rapta closes the execution gap between engineering intent and manufacturing outcomes by digitizing and standardizing the human decisions that determine quality, readiness, compliance, and production performance. The platform continuously guides workers through assembly and inspection processes; verifies configuration, sequence, torque, and quality requirements; detects defects at the source of build; captures trusted evidence for qualification and audit requirements; and standardizes expert workforce performance through real-time operational guidance.

“Manufacturers today face increasing pressure to expand capacity, accelerate ramp-rates, onboard new workers faster, and maintain quality as products become more complex,” said Aaron Brown, CEO of Rapta. “The organizations that succeed generate no defects, pass no defects and standardize expert performance, preserve critical operational knowledge, and scale readiness without sacrificing quality or operational control.”

By instrumenting execution directly at the point of work, Rapta helps manufacturers connect engineering intent to qualified production while generating trusted evidence for quality, certification, audit, and operational readiness. Manufacturers gain real-time visibility, reduced variability, stronger traceability, and faster operational decision-making. The platform can be deployed in days—not months—within existing production environments, enabling customers to improve execution without disrupting existing factory systems and workflows.

Orlando provides direct access to Florida’s aerospace, defense, space, and advanced manufacturing ecosystem, including major defense contractors, engineering talent, universities, and government partners.

From its Orlando headquarters, Rapta will continue supporting customers across aerospace, defense, space, and electronics manufacturing sectors while deepening collaboration with industry, government, university, and workforce development partners throughout Florida.

“Our mission is to reduce the barriers to trusted, scalable manufacturing,” Brown added. “The Orlando expansion strengthens our ability to help customers build workforce capability, improve production readiness, and scale manufacturing operations with confidence.”

About Rapta

Rapta helps aerospace, defense, space, electronics, advanced manufacturing, and sustainment organizations improve production readiness, quality, traceability, and workforce performance. Its Manufacturing Intelligence Platform delivers real-time guidance, verification, and operational decision support where work happens, helping manufacturers accelerate ramp-rates, expand capacity, standardize expert workforce performance, and generate trusted evidence for qualification, certification, and audit requirements. Rapta deploys on-premises within the customer’s existing network, keeping production data on the customer’s infrastructure.

Mission: Systematically reduce the barriers to trusted, scalable manufacturing.

Small Business | CAGE 9DL78

For more information, visit www.rapta.ai  or contact media@rapta.ai

Rapta® is a registered trademark of Rapta, Inc.

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Info-Tech LIVE 2026 brought together thousands of CIOs and senior IT leaders at the Bellagio Hotel and Casino from June 9 to 11 to explore how agentic AI is reshaping enterprise technology, cybersecurity, data, operating models, and IT leadership. Across keynotes and analyst-led sessions, the event reinforced a central message for technology executives navigating the current landscape: AI value within organizations depends on disciplined execution, strong governance, reliable data foundations, and the ability to scale the right work.

LAS VEGAS, June 19, 2026 /PRNewswire/ – Info-Tech Research Group has wrapped Info-Tech LIVE 2026 in Las Vegas, where thousands of CIOs, CISOs, CTOs, and senior IT leaders gathered at the Bellagio from June 9 to 11 to explore how organizations can move from AI ambition to measurable enterprise value. Centered on the theme Agentic IT: From Hype to Value, the three-day conference featured industry keynotes, hands-on workshops for IT leaders, a record number of software exhibitors, exclusive roundtables, breakouts, lightning rounds, and peer-led sessions focused on the leadership, governance, security, and operational disciplines required to scale agentic AI responsibly.

As organizations move beyond AI experimentation and begin embedding agentic capabilities into workflows, the global research and advisory firm set an agenda that prepared IT leaders to practically navigate new expectations about value realization, accountability, and execution. Throughout Info-Tech LIVE 2026, data-backed insights from analysts, speakers, and industry experts emphasized that the next phase of enterprise AI will not be defined by adoption alone, but by how effectively CIOs redesign operating models, strengthen data and security foundations, and decide which AI initiatives deserve investment.

Research from Info-Tech shared during the opening keynote reinforced the urgency of moving from AI enthusiasm to disciplined execution. Findings presented from the firm’s AI Adoption in the Enterprise Survey revealed that 91% of IT executives are bullish on AI and 96% expect AI budgets to increase over the next 12 months. However, only 42% of organizations report cross-departmental AI adoption with measurable impact, and only 50% have a board-approved dedicated AI strategy. The findings underscore a central theme from LIVE 2026: AI value depends on clear ownership, deliberate investment choices, governance, data readiness, and measurable execution.

“Our 2026 edition of Info-Tech LIVE in Las Vegas made clear that CIOs are no longer trying to prove whether AI matters; they’re now being asked to prove where it creates measurable value,” says Chief Research Officer at Info-Tech Research Group, Gord Harrison. “Agentic IT requires a different operating discipline that connects value creation and control through stronger strategy, governance, data readiness, security, and measurement. As shared across keynotes, panels, analyst one-on-ones, and privately amongst peers at various networking events throughout the week, the leaders who succeed will be the ones who know which AI bets to make, which to stop, and how to scale the work that delivers real outcomes.”

Key Sessions from Info-Tech LIVE 2026 in Las Vegas

Across the event, Info-Tech analysts and featured speakers outlined how technology leaders can prepare their organizations for more autonomous systems while maintaining control, resilience, and business alignment.

The 200+ sessions reflected the broader message carried through Info-Tech LIVE 2026 in Las Vegas: organizations are entering an era in which AI buy-in is no longer the central challenge, with execution becoming the differentiator. From agentic enterprise design and cybersecurity engineering to data-driven decision-making and CIO leadership, Info-Tech’s largest event to date highlighted the need for IT leaders to select the right workflows, strengthen governance, define ownership, and scale AI only where it can create measurable value.

The following is a summary of several of the major themes explored at Info-Tech LIVE 2026 in Las Vegas:

Agentic IT: From Hype to Value
Opening the conference, Info-Tech Research Group CEO Tom Zehren challenged CIOs and senior IT leaders to move beyond AI hype and focus on the operating discipline required to convert AI demand into measurable enterprise value. The keynote introduced Info-Tech’s Agentic IT Framework, built around four priorities: owning the AI mandate, picking the right AI bets, enforcing AI discipline, and proving and scaling AI value. Zehren’s session also highlighted new Info-Tech survey findings showing that while IT executives are broadly bullish on AI, organizations still need stronger strategy, governance, data readiness, and execution models to realize impact.Reinventing Cybersecurity in the AI Era
Technical Counselor Erik Avakian explored how AI is forcing cybersecurity leaders to rethink a discipline that was built for human-scale operations. His session framed threat detection and response, vulnerability management, and compliance management as engineering challenges rather than just security problems, as AI increases both the speed of attacks and the complexity of defenses. Avakian highlighted the need for security leaders to audit data and workflows, define guardrails before deploying agents, and prepare teams for new roles such as CyberAI agent supervisors and agent engineers.Designed for Autonomy: Inside the Agentic Enterprise
On the mainstage, Carlene McCubbin, AVP of Agentic AI Implementation, explored what it takes to build an organization that runs on AI, not just one that uses it. The session articulated the shift from AI adoption to transformation, moving from assisted and augmented work to agentic workflows, orchestrated systems, and enterprise-wide compounding value. To achieve this shift, McCubbin explained that leaders must start with the right workflows, architect agents for governed execution, and ensure production-ready systems have clear ownership, bounded permissions, defined incident paths, and observable trace logs before scaling.Agents 2.0: Architect for Autonomy
Martin Bufi, Principal Research Director, shared with attendees implementation evidence from a year of agentic AI development, including 13 prototypes, 63 agents built, and 123 tools created across 13 workflows and five domains. His keynote emphasized that autonomy without architecture creates risk, and that successful agentic systems must be mapped, engineered, and governed before they can scale. Bufi walked through practical lessons from the work, including the need to standardize workflows before automation, design agents around specific jobs rather than broad generalist tasks, build tool integrations deliberately, and ensure every agent can be measured, stopped, and improved.Become an Exponential CIO
The keynote from Geoff Nielson, SVP of Brand, Reach & Influence, examined how the CIO mandate is evolving as technology becomes more central to enterprise performance. Nielson highlighted for the nearly 4,000 IT leaders in attendance the gap between where C-suite leaders expect CIOs to operate and where many IT departments are today, with many still constrained by firefighting, immature processes, resource scarcity, stakeholder pressure, and under-leveraged data. The eight drivers of IT success were also shared, including stakeholder satisfaction, strong core IT processes, leadership development, mission-critical project delivery, right-sized risk, vendor effectiveness, evidence-based decisions, and business transformation.Tech Trends 2027
Executive Counselor Rob Meikle previewed the technology forces expected to shape IT decision-making in 2027 and beyond. The early look at the tech trends the firm is currently tracking urged leaders to move beyond instinct, hype, and headlines when placing technology bets, especially as agentic AI reshapes the technology stack, talent models, vendor markets, enterprise operations, and infrastructure decisions. For the Las Vegas gathering, Meikle outlined four major trend themes, including the shift in the IT stack to support agentic AI, the redrawing of talent and vendor strategies, the convergence of physical and digital operations, and the growing influence of geopolitical pressures on technology investment.Securing Agentic AI and the New Security Reality
The presentation from Research Director Pearl Almeida focused on the controls organizations must prioritize before scaling agentic AI. During Almeida’s talk, she emphasized that traditional security controls were built for predictable systems, while agentic AI introduces dynamic reasoning, shifting permissions, nondeterministic decisions, and autonomous loops. Almeida presented a layered approach to securing agents, including API security, MCP gateway enforcement, identity governance, logging, baselining, and monitoring, while framing autonomy boundaries as the new security perimeter for AI-enabled systems.

Through its research-driven agenda, Info-Tech LIVE 2026 in Las Vegas provided CIOs and senior IT leaders with practical insights into how agentic AI can be governed, secured, and scaled to deliver measurable business outcomes. The conference underscored that the path from hype to value requires more than technology adoption, including operating discipline, enterprise design, workforce readiness, and leadership capable of translating AI potential into organizational results.

Photos, press releases, and related assets are available on the LIVE Media Kit page. Keynote presentations from the event are also accessible through the Info-Tech LIVE Hub, offering additional access to the research, frameworks, and insights shared during the conference.

Follow Info-Tech Research Group on LinkedIn and X for updates.

Media Passes for Upcoming Events: Applications Open for Info-Tech LIVE 2026 in Barcelona and Toronto 

Media professionals, including journalists, bloggers, podcasters, and influencers, are invited to attend Info-Tech LIVE 2026 in Barcelona, September 22-23, 2026, or Info-Tech LIVE 2026 in Toronto, November 10-12, 2026, to gain exclusive access to research, content, and interviews with industry leaders for their audiences.

Media professionals looking to apply for media passes can contact pr@infotech.com to secure their spot for a front-row seat to exclusive insights and launches that only happen at Info-Tech LIVE events. 

Exhibitor Opportunities  

Exhibitors are also invited to be part of Info-Tech LIVE and showcase their products and services to a highly engaged audience of IT decision-makers. For more information about becoming an Info-Tech LIVE exhibitor, please contact events@infotech.com.  

About Info-Tech Research Group 

Info-Tech Research Group is the “get things done” partner for over 30,000 IT, HR, and marketing leaders worldwide. The fastest growing research and advisory firm, Info-Tech enables leaders to make well-informed decisions and transform their organizations through AI, strategic foresight, step-by-step methodologies, practical tools, industry-leading advisory, and training programs. For nearly 30 years, tens of thousands of private and public organizations have trusted Info-Tech to lead their most important initiatives through periods of change and deliver outcomes that truly matter. 

To learn more about Info-Tech’s HR research and advisory services, visit McLean & Company, and for data-driven software buying insights and vendor evaluations, visit the firm’s SoftwareReviews platform. 

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com. 

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SOURCE Info-Tech Research Group

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