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Vapotherm Reports Second Quarter 2024 Financial Results

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2 years ago

on

EXETER, N.H., Aug. 12, 2024 /PRNewswire/ — Vapotherm, Inc. (OTCQX: VAPO), (“Vapotherm” or the “Company”), today announced second quarter 2024 financial results and related highlights.

Second Quarter 2024 Financial Results and Related Highlights

Net revenue for the second quarter of 2024 was $16.9 million, an increase of 5.3% as compared to the second quarter of 2023Disposables revenue increased by 13.9% as compared to the second quarter of 2023U.S. disposables revenue increased by 25.9% as compared to the second quarter of 2023Gross margin in the second quarter of 2024 was 49.1% as compared to 42.8% in the second quarter of 2023For the second quarter of 2024, GAAP operating expenses were $17.6 million and non-GAAP cash operating expenses, as defined below, were $12.1 millionGAAP operating expenses increased by $0.5 million from the second quarter of 2023Non-GAAP cash operating expenses decreased by $2.1 million from the second quarter of 2023Adjusted EBITDA loss in the second quarter of 2024 was $2.9 million as compared to an Adjusted EBITDA loss of $6.4 million in the second quarter of 2023The Company’s unrestricted cash and cash equivalents were $2.9 million at the end of the second quarter of 2024

“I’m pleased our U.S. disposables revenue grew by nearly 26% over the second quarter of 2023 and our worldwide disposables revenue grew by nearly 14% over the same period,” said Joseph Army, President and CEO. “We are seeing increased adoption of our technology on COPD patients since the results of the HYPERACT study were presented at the 2024 Critical Care Congress.”

Results for the Three Months Ended June 30, 2024

The following table reflects the Company’s net revenue for the three months ended June 30, 2024 and 2023:

Three Months Ended June 30,

2024

2023

Change

(in thousands, except percentages)

Amount

% of Revenue

Amount

% of Revenue

$

%

Revenue

Capital (product & lease revenue)

$

3,061

18.1

%

$

3,646

22.7

%

$

(585)

(16.0)

%

Disposables

12,442

73.7

%

10,927

68.1

%

1,515

13.9

%

Service and other

1,381

8.2

%

1,464

9.2

%

(83)

(5.7)

%

Total net revenue

$

16,884

100.0

%

$

16,037

100.0

%

$

847

5.3

%

Net revenue for the second quarter of 2024 was $16.9 million and increased 5.3% over the second quarter of 2023 primarily due to U.S. disposables revenue growth of 25.9% over the second quarter of 2023, which was driven by increased unit volume and adoption of the Company’s HVT 2.0 platform.

Revenue information by geography is summarized as follows:

Three Months Ended June 30,

2024

2023

Change

(in thousands, except percentages)

Amount

% of Revenue

Amount

% of Revenue

$

%

United States

$

13,323

78.9

%

$

11,847

73.9

%

$

1,476

12.5

%

International

3,561

21.1

%

4,190

26.1

%

(629)

(15.0)

%

Total net revenue

$

16,884

100.0

%

$

16,037

100.0

%

$

847

5.3

%

Net revenue in the United States for the second quarter of 2024 was $13.3 million and increased 12.5% over the second quarter of 2023 primarily due to U.S. disposables revenue growth. Net revenue in International markets for the second quarter of 2024 was $3.6 million and decreased 15.0% over the second quarter of 2023 due to a decrease in disposables revenue in distributor markets.

Gross profit and gross margin for the second quarter of 2024 was $8.3 million and 49.1%, respectively, as compared to gross profit of $6.9 million and gross margin of 42.8% for the second quarter of 2023. The increases in gross profit and gross margin were primarily due to the improved efficiency of our Mexico operation.

Total operating expenses were $17.6 million in the second quarter of 2024, an increase of $0.5 million as compared to the second quarter of 2023. Non-GAAP cash operating expenses, which exclude merger-related costs, gain on disposal of property and equipment, depreciation and amortization, stock-based compensation expense, and gain from deconsolidation were $12.1 million in the second quarter of 2024 compared to $14.2 million in the second quarter of 2023. The increase in operating expenses was primarily due to merger-related costs, partially offset by the Company’s Path to Profitability initiatives. The decrease in non-GAAP cash operating expenses was primarily due to the Company’s Path to Profitability initiatives.

Net loss for the second quarter of 2024 was $14.3 million, or $2.22 per share, compared to $14.8 million, or $2.34 per share, in the second quarter of 2023. Net loss per share was based on 6,442,763 and 6,328,222 weighted average shares outstanding for the second quarter of 2024 and 2023, respectively.

Adjusted EBITDA was negative $2.9 million for the second quarter of 2024 as compared to negative $6.4 million for the second quarter of 2023. The reduction in Adjusted EBITDA loss was primarily due to the Company’s Path to Profitability initiatives.

Cash Position

Unrestricted cash and cash equivalents were $2.9 million as of June 30, 2024 compared to $9.7 million as of December 31, 2023.

Website Information

Vapotherm routinely posts important information for investors on the Investor Relations section of its website, http:// investors.vapotherm.com/. Vapotherm intends to use this website as a means of disclosing material, non-public information and for complying with Vapotherm’s disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of Vapotherm’s website, in addition to following Vapotherm’s press releases, Securities and Exchange Commission (“SEC”) filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, Vapotherm’s website is not incorporated by reference into, and is not a part of, this document.

Non-GAAP Financial Measures

This press release includes non-GAAP financial measures, including EBITDA, Adjusted EBITDA, non-GAAP operating expenses and non-GAAP cash operating expenses. EBITDA and Adjusted EBITDA differ from net income as calculated in accordance with U.S. generally accepted accounting principles (“GAAP”) and non-GAAP operating expenses and non-GAAP cash operating expenses differ from operating expenses as calculated in accordance with GAAP. EBITDA represents net loss less interest expense, net, income tax provision or benefit, and depreciation and amortization, and Adjusted EBITDA represents EBITDA as further adjusted for the merger-related costs, impact of foreign currency (loss) gain, stock-based compensation expense, gain from deconsolidation and gain on disposal of property and equipment. Non-GAAP operating expenses is calculated by excluding from GAAP operating expenses merger-related costs, gain on disposal of property and equipment, and non-GAAP cash operating expenses is calculated by further excluding additional items, including stock-based compensation expense, depreciation and amortization, and gain from deconsolidation. The Company has reconciled all historical non-GAAP financial measures with the most directly comparable GAAP financial measures in tables accompanying this release.

These non-GAAP financial measures are presented because the Company believes they are useful indicators of its operating performance. Management uses these non-GAAP financial measures, as measures of the Company’s operating performance and for planning purposes, including the preparation of the Company’s annual operating budget and financial projections. The Company believes these measures are useful to investors as supplemental information because they are frequently used by analysts, investors and other interested parties to evaluate companies in its industry. The Company believes Adjusted EBITDA is useful to its management and investors as a measure of comparative operating performance from period to period.

These non-GAAP financial measures should not be considered alternatives to, or superior to, net income or loss as a measure of financial performance or cash flows from operations as a measure of liquidity, or any other performance measure derived in accordance with GAAP. They should not be construed to imply that the Company’s future results will be unaffected by unusual or non-recurring items. In addition, Adjusted EBITDA is not intended to be a measure of free cash flow for management’s discretionary use, as it does not reflect certain cash requirements such as tax payments, debt service requirements, capital expenditures and certain other cash costs that may recur in the future. Adjusted EBITDA contains certain other limitations, including the failure to reflect our capital expenditures, cash requirements for working capital needs and cash costs to replace assets being depreciated and amortized. In evaluating Adjusted EBITDA, you should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments in the Adjusted EBITDA presentation. The Company’s presentation of Adjusted EBITDA should not be construed to imply that its future results will be unaffected by any such adjustments. Management compensates for these limitations by primarily relying on the Company’s GAAP results in addition to using Adjusted EBITDA and other non-GAAP financial measures on a supplemental basis. The Company’s definitions of Adjusted EBITDA, non-GAAP operating expenses and non-GAAP cash operating expenses are not necessarily comparable to other similarly titled captions of other companies due to different methods of calculation.

About Vapotherm

Vapotherm, Inc. (OTCQX: VAPO) is a publicly traded developer and manufacturer of advanced respiratory technology based in Exeter, New Hampshire, USA. The Company develops innovative, comfortable, non-invasive technologies for respiratory support of patients with chronic or acute breathing disorders. Over 4.5 million patients have been treated with the use of Vapotherm high velocity therapy® systems. For more information, visit www.vapotherm.com.

Vapotherm high velocity therapy is mask-free non-invasive respiratory support and is a front-line tool for relieving respiratory distress—including hypercapnia, hypoxemia, and dyspnea. It allows for the fast, safe treatment of undifferentiated respiratory distress with one tool. The HVT 2.0 and Precision Flow systems’ mask-free interface delivers optimally conditioned breathing gases, making it comfortable for patients and reducing the risks and care complexities associated with mask therapies. While being treated, patients can talk, eat, drink and take oral medication.

Legal Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995, including the statement about the Company’s belief regarding an increased willingness to use the Company’s technology on COPD patients. In some cases, you can identify forward-looking statements by terms such as “believe,” “expect,” “continue,” “plan,” “intend,” “will,” “outlook,” or “typically,” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words, and the use of future dates. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement. Applicable risks and uncertainties include, but are not limited to the following: Vapotherm’s proposed merger with Veronica Merger Sub, Inc. and Vapotherm’s ability to satisfy the conditions to closing or otherwise complete the merger on a timely basis or at all and the impact the pending merger may have on Vapotherm’s current plans and operations, including potentially diverting management’s attention from our business; the effects of the merger (or the announcement or pendency thereof) on Vapotherm’s future business and financial and operating results, its ability to retain key personnel and maintain relationships with customers, manufacturers, suppliers, employees (including the risks relating to the ability to retain or hire key personnel), other business partners or governmental entities, and the risk and outcome of legal proceedings related to the merger; Vapotherm’s ability to raise additional capital to fund its existing operations and debt service obligations; Vapotherm’s ability to comply with its financial covenants, execute on its path to profitability initiative, convert excess inventory into cash and fund its business and otherwise continue as a going concern through 2024; Vapotherm has incurred losses in the past and may be unable to achieve or sustain profitability in the future; risks associated with its manufacturing operations in Mexico; Vapotherm’s dependence on sales generated from its High Velocity Therapy systems, competition from multi-national corporations who have significantly greater resources than Vapotherm and are more established in the respiratory market; the ability for High Velocity Therapy systems to gain increased market acceptance; Vapotherm’s inexperience directly marketing and selling its products; the potential loss of one or more suppliers and dependence on its new third party manufacturer; Vapotherm’s susceptibility to seasonal fluctuations; Vapotherm’s failure to comply with applicable United States and foreign regulatory requirements; the failure to obtain U.S. Food and Drug Administration or other regulatory authorization to market and sell future products or its inability to secure, maintain or enforce patent or other intellectual property protection for its products; the impact of COVID on its business, including its supply chain; risks in holding Vapotherm stock in light of trading on the OTCQX tier of the OTC Markets; and the other risks and uncertainties included under the heading “Risk Factors” in Vapotherm’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on February 22, 2024, and subsequent SEC reports. The forward-looking statements contained in this press release reflect Vapotherm’s views as of the date hereof, and Vapotherm does not assume and specifically disclaims any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

 

VAPOTHERM, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share amounts)

June 30, 2024

December 31, 2023

(unaudited)

Assets

Current assets

Cash and cash equivalents

$

2,904

$

9,725

Accounts receivable, net of expected credit losses
   of $240 and $160, respectively

8,563

10,672

Inventories, net

23,295

22,968

Prepaid expenses and other current assets

2,259

3,058

Total current assets

37,021

46,423

Property and equipment, net

23,592

23,703

Operating lease right-of-use assets

2,911

3,372

Restricted cash

1,109

1,109

Goodwill

561

565

Deferred income tax assets

56

57

Other long-term assets

2,677

2,388

Total assets

$

67,927

$

77,617

Liabilities and Stockholders’ Deficit

Current liabilities

Accounts payable

$

4,381

$

5,053

Contract liabilities

1,258

1,237

Accrued expenses and other current liabilities

22,913

12,805

Current portion of loans payable, net

118,406

–

Total current liabilities

146,958

19,095

Long-term loans payable, net

–

107,059

Other long-term liabilities

2,288

6,797

Total liabilities

149,246

132,951

Commitments and contingencies

Stockholders’ deficit

Preferred stock ($0.001 par value) 25,000,000 shares authorized; no shares
   issued and outstanding as of June 30, 2024 and December 31, 2023

–

–

Common stock ($0.001 par value) 21,875,000 shares authorized as of
   June 30, 2024 and December 31, 2023, 6,241,958 and 6,165,806
   shares issued and outstanding as of June 30, 2024 and
   December 31, 2023, respectively

6

6

Additional paid-in capital

496,083

492,764

Accumulated other comprehensive (loss) income

(106)

91

Accumulated deficit

(577,302)

(548,195)

Total stockholders’ deficit

(81,319)

(55,334)

Total liabilities and stockholders’ deficit

$

67,927

$

77,617

 

VAPOTHERM, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share amounts)

Three Months Ended June 30,

Six Months Ended June 30,

2024

2023

2024

2023

(unaudited)

(unaudited)

Net revenue

$

16,884

$

16,037

$

36,018

$

33,768

Cost of revenue

8,601

9,177

18,078

20,696

Gross profit

8,283

6,860

17,940

13,072

Operating expenses

Research and development

3,328

3,723

6,960

7,710

Sales and marketing

6,732

8,276

13,874

17,868

General and administrative

3,768

5,019

8,240

10,789

Merger-related costs

3,723

–

3,723

–

Impairment of right-of-use assets

–

–

–

432

(Gain) loss on disposal of property and equipment

(1)

(2)

(9)

53

Total operating expenses

17,550

17,016

32,788

36,852

Loss from operations

(9,267)

(10,156)

(14,848)

(23,780)

Other (expense) income

Interest expense

(4,944)

(4,642)

(14,197)

(8,973)

Interest income

1

26

6

54

Foreign currency (loss) gain

(43)

9

(39)

(145)

Net loss before income taxes

$

(14,253)

$

(14,763)

$

(29,078)

$

(32,844)

Provision for income taxes

18

25

29

34

Net loss

$

(14,271)

$

(14,788)

$

(29,107)

$

(32,878)

Other comprehensive (loss) income:

Foreign currency translation adjustments

(35)

(22)

(197)

113

Total other comprehensive (loss) income

(35)

(22)

(197)

113

Total comprehensive loss

$

(14,306)

$

(14,810)

$

(29,304)

$

(32,765)

Net loss per share – basic and diluted

$

(2.22)

$

(2.34)

$

(4.52)

$

(5.76)

Weighted-average number of shares used in calculating net
   loss per share, basic and diluted (1)

6,442,763

6,328,222

6,436,631

5,705,607

(1) On August 18, 2023, the Company effected a 1:8 reverse stock split for each share of common stock issued
and outstanding. All shares and associated amounts have been retroactively restated to reflect the stock split.

 

VAPOTHERM, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

Six Months Ended June 30,

2024

2023

Cash flows from operating activities

Net loss

$

(29,107)

$

(32,878)

Adjustments to reconcile net loss to net cash used in operating activities

Stock-based compensation expense

3,290

5,405

Depreciation and amortization

2,528

2,445

Provision for credit losses

110

(2)

Provision for inventory valuation

73

283

Non-cash lease expense

461

733

Impairment of right-of-use assets

–

432

(Gain) loss on disposal of property and equipment

(9)

53

Placed units reserve

234

418

Interest paid in-kind

4,918

4,553

Non-cash interest expense

4,931

620

Amortization of discount on debt

429

368

Deferred income taxes

29

34

Changes in operating assets and liabilities:

Accounts receivable

1,986

212

Inventories

(407)

7,646

Prepaid expenses and other assets

506

(2,794)

Accounts payable

(579)

(315)

Contract liabilities

23

72

Accrued expenses and other liabilities

2,045

(3,460)

Operating lease liabilities, current and long-term

(1,288)

(1,213)

Net cash used in operating activities

(9,827)

(17,388)

Cash flows from investing activities

Purchases of property and equipment

(2,662)

(1,408)

Net cash used in investing activities

(2,662)

(1,408)

Cash flows from financing activities

Proceeds from issuance of common stock and pre-funded warrants and
   accompanying warrants in private placement, net of issuance costs

–

20,943

Proceeds from loans, net of discount

5,820

–

Proceeds from exercise of warrants

–

3

Proceeds from exercise of stock options

1

–

Proceeds from issuance of common stock under Employee Stock Purchase Plan

12

77

Net cash provided by financing activities

5,833

21,023

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(165)

35

Net (decrease) increase in cash, cash equivalents and restricted cash

(6,821)

2,262

Cash, cash equivalents and restricted cash

Beginning of period

10,834

16,847

End of period

$

4,013

$

19,109

Supplemental disclosures of cash flow information

Interest paid during the period

$

3,557

$

2,720

Property and equipment purchases in accounts payable and accrued expenses

$

732

$

175

Issuance of common stock warrants in conjunction with long term debt

$

16

$

71

Issuance of common stock for services

$

155

$

117

Non-GAAP Financial Measures

The following table contains a reconciliation of net loss to Adjusted EBITDA for the three months ended June 30, 2024 and 2023, respectively.

Three Months Ended June 30,

2024

2023

(Unaudited)

(in thousands)

Net loss

$

(14,271)

$

(14,788)

Interest expense, net

4,943

4,616

Provision for income taxes

18

25

Depreciation and amortization

1,224

1,197

EBITDA

$

(8,086)

$

(8,950)

Merger-related costs

3,723

–

Stock-based compensation

1,456

2,585

Foreign currency loss (gain)

43

(9)

Gain from deconsolidation

–

(5)

Gain on disposal of property and equipment

(1)

(2)

Adjusted EBITDA

$

(2,865)

$

(6,381)

The following table contains a reconciliation of operating expenses to Non-GAAP operating expenses and Non-GAAP cash operating expenses for the three months ended June 30, 2024 and June 30, 2023, respectively.

Three Months Ended June 30,

2024

2023

(Unaudited)

(in thousands)

GAAP operating expenses

$

17,550

$

17,016

Merger-related costs

(3,723)

–

Gain on disposal of property and equipment

1

2

Non-GAAP operating expenses

13,828

17,018

Stock-based compensation

(1,423)

(2,534)

Depreciation and amortization

(262)

(293)

Gain from deconsolidation

–

5

Non-GAAP cash operating expenses

$

12,143

$

14,196

 

Supplemental Operating Metrics

June 30,

2024

2023

Change

Amount

Amount

Amount

%

HVT 2.0 and precision flow units installed base

United States

24,992

24,563

429

1.7

%

International

12,975

12,729

246

1.9

%

Total

37,967

37,292

675

1.8

%

Three Months Ended June 30,

2024

2023

Change

Amount

Amount

Amount

%

HVT 2.0 and precision flow units sold and leased

United States

193

293

(100)

(34.1)

%

International

99

146

(47)

(32.2)

%

Total

292

439

(147)

(33.5)

%

Disposable patient circuits sold

United States

82,290

69,323

12,967

18.7

%

International

29,634

35,744

(6,110)

(17.1)

%

Total

111,924

105,067

6,857

6.5

%

 

Investor Relations Contacts:

John Landry, SVP & CFO, ir@vtherm.com, +1 (603) 658-0011

View original content to download multimedia:https://www.prnewswire.com/news-releases/vapotherm-reports-second-quarter-2024-financial-results-302220359.html

SOURCE Vapotherm, Inc.

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Technology

Best Accounting Software for Medium-Sized Business UK (2026): QuickBooks Advanced Recognised as a Scalable Finance Platform for UK Mid-Market Businesses by Consumer365

Published

7 hours ago

on

May 9, 2026

By

NEW YORK, May 9, 2026 /PRNewswire/ — As demand for scalable financial tools grows, attention is shifting towards the best accounting software for medium-sized businesses in the UK in 2026, as organisations face increasingly complex accounting requirements. Consumer365 has recognised QuickBooks as a cloud-based platform supporting more structured financial management, reflecting a wider focus on improving automation, visibility, and compliance readiness.

Best Accounting Software for Medium-Sized Business UK

QuickBooks – developed as a cloud-based accounting platform, it enables medium-sized businesses to manage financial operations, automate core accounting processes, and maintain compliance with UK regulatory requirements.

Growing Demand for Scalable Financial Systems in the UK Mid-Market

Medium-sized businesses in the UK are operating in an environment where financial management is becoming increasingly complex. Growth introduces additional reporting layers, heightened regulatory expectations, and the need for consistent financial oversight across departments.

Traditional accounting methods are often no longer sufficient under these conditions. Spreadsheet-based systems and entry-level tools can struggle to deliver accurate, timely insights. This creates visibility gaps that can impact planning and decision-making.

QuickBooks has been identified within this context as a platform designed to support more structured financial management. Its positioning reflects a broader shift towards systems that centralise financial data and reduce fragmentation across business operations.

QuickBooks Positioned as a Scalable Financial Platform

QuickBooks operates as a cloud-based accounting system developed by Intuit. It is designed to support businesses that require more than basic bookkeeping functionality, focusing on helping organisations manage financial processes in a more connected and scalable way.

A key aspect of its design is the ability to consolidate financial information within a single system. This allows businesses to manage invoicing, expenses, reporting, and cash flow tracking without relying on multiple disconnected tools.

The platform is also structured to support growth. As businesses expand, financial operations often become more distributed across teams. QuickBooks enables multiple users to work within the same system while maintaining structured access controls, helping ensure consistency and oversight as complexity increases.

Financial Visibility, Automation, and Operational Control

One of the central functions of QuickBooks is improving financial visibility across business operations. Real-time data access allows organisations to monitor cash flow, expenses, and overall financial performance without waiting for end-of-period reporting cycles.

Automation plays a significant role in reducing manual workload. Financial processes such as invoicing, transaction categorisation, and expense tracking can be streamlined, reducing reliance on repetitive manual input and supporting more consistent financial records.

Operational control is reinforced through structured user permissions. Businesses can assign access levels based on roles, ensuring financial data is managed securely while still enabling collaboration across departments. This structure is particularly relevant for medium-sized organisations where multiple teams interact with financial systems.

Integration, Compliance, and System Connectivity

QuickBooks is designed to integrate with a range of business tools commonly used by UK organisations. These include payroll systems, customer relationship management platforms, and other operational software. This level of connectivity helps ensure that financial data remains consistent across systems.

Compliance is also a core part of the platform’s structure. UK businesses must meet specific regulatory requirements, including VAT reporting and Making Tax Digital standards. QuickBooks includes features that support these obligations within the system, reducing the need for manual compliance processes.

By aligning financial reporting with regulatory standards, the platform helps organisations maintain accurate records while reducing the administrative burden associated with tax and compliance requirements.

Operational Impact and Long-Term Financial Structure

As businesses grow, financial systems often become central to overall operational structure. Decisions related to hiring, investment, and expansion rely on access to accurate and timely financial data. Systems that lack integration or real-time visibility can slow decision-making and introduce inefficiencies.

QuickBooks supports a more structured approach by centralising financial information. This reduces fragmentation and helps ensure consistency across the organisation. It also supports continuity, minimising the need for frequent system changes as businesses scale.

The platform is designed to adapt to increasing complexity over time. As transaction volumes grow and reporting requirements expand, it remains stable while accommodating additional users and workflows.

This approach aligns with the needs of medium-sized businesses transitioning from smaller-scale operations to more advanced financial environments.

Market Context and Financial Management Trends

The recognition of QuickBooks reflects broader developments in financial technology adoption among UK medium-sized businesses. Organisations are increasingly prioritising systems that improve efficiency while reducing operational complexity.

Financial management is no longer limited to recordkeeping. It has become a core business function that influences strategic planning and overall performance. As a result, platforms that provide integrated financial oversight are becoming more relevant across a wide range of industries.

QuickBooks fits within this shift by offering a system that combines core accounting functionality with workflow automation and reporting capabilities. This supports businesses that require both day-to-day financial management and longer-term planning tools.

The emphasis on scalability also reflects changing expectations in the mid-market sector. Businesses are seeking platforms that can grow with them, rather than systems that need to be replaced as operational requirements evolve.

Conclusion

Consumer365 has recognised QuickBooks as a relevant financial platform for medium-sized businesses operating in the UK in 2026. The recognition highlights its focus on scalability, financial visibility, and structured operational control.

The platform is positioned to support organisations as they move beyond basic accounting systems and adopt more integrated financial management structures. Its emphasis on automation, compliance support, and system connectivity aligns with the operational needs of growing businesses.

As financial complexity continues to increase across the mid-market sector, tools that centralise financial data and support real-time decision-making are becoming more widely adopted. QuickBooks represents one of the platforms contributing to this shift towards more structured financial management approaches.

To read the full review, please visit the Consumer365 website.

About Intuit

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View original content:https://www.prnewswire.com/news-releases/best-accounting-software-for-medium-sized-business-uk-2026-quickbooks-advanced-recognised-as-a-scalable-finance-platform-for-uk-mid-market-businesses-by-consumer365-302766759.html

SOURCE Consumer365.org

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Technology

BOE continues to launch new products and solutions in the field of high-end displays

Published

8 hours ago

on

May 9, 2026

By

LOS ANGELES, May 9, 2026 /PRNewswire/ — 

1、Redefine Visual Experience with Scientific Standards! BOE Releases Core Research Findings on OLED Display Clarity-Legibility Index, Paving the Way for the Industry’s First Transparent Pro Standard to Deliver Supreme Visual Experience

With the rapid popularization of OLED display technology, basic screen indicators including resolution, color gamut and brightness keep improving. Meanwhile, display transparency — a core experience metric that determines visual comfort , image authenticity and premium visual quality — has drawn growing attention across the industry.

Recently, BOE has empowered the launch of the industry’s first flagship high-transparency OLED display panel, setting an industry-leading benchmark in four key dimensions: color, depth , clarity and dynamic range. It ushers high-end display into a new era, shifting from purely numerical technical specifications to ultimate user-centric visual experience.

In addition, BOE officially unveiled its in-depth research achievements on OLED display transparency. It has identified the core underlying factors affecting visual transparency through scientific research, pioneered the industry’s first display transparency index formula, and facilitated the release of the first authoritative evaluation standard for OLED display transparency. This marks an industry’s transformation from specs-oriented to experience-driven development. This marks a full-process breakthrough covering underlying technical analysis, scientifically guided image quality development and mass production application.

At present, the group standard 《Standard of Associations Organic light emitting diode display —Evaluation method for display clarity》, led and formulated by BOE based on relevant research outcomes, has been officially issued. As the world’s first dedicated evaluation standard focusing on OLED display transparency, it fills the long-standing industry gap in correlating subjective visual perception with objective image quality parameters.

Leveraging this standard and transparency research results, BOE has assisted partners in developing the industry’s first flagship high-transparency OLED screen. The company has built a comprehensive technical system for OLED visual transparency. Supported by cutting-edge technologies such as tandem, LTPO and high-precision Demura crosstalk optimization algorithms, BOE and its partners have carried out full-link optimization from display panels to end devices.

Going forward, BOE will continue to deepen research on display human factors engineering and visual experience. Through technological innovation and standard leadership, it will bring more ultimate, high-transparency premium display experiences to users worldwide.

2、BOE Beneficial “Natural” Light Technology (BNL): Solving Visual Health Pain Points and Leading the Display Industry Trend

In an era of ubiquitous displays, users are spending increasingly longer hours on screens. Nevertheless, the luminous properties of conventional displays poorly align with the human visual system, sparking widespread consumer concerns over visual health. To address such challenges, BOE draws inspiration from natural light. By deeply analyzing natural light and extracting beneficial features highly consistent with health and comfort, BOE established the Beneficial “Natural” Light Technology (BNL) architecture. Evolving from single technical upgrades to a systematic solution, BNL replicates the merits of natural light across four core dimensions: Depolarization Adjustment, Spectrum Optimization, Light Profile Optimization and Time-varying Adaptation, advancing display technology toward healthy viewing.

BNL & Visual Health

Depolarization Adjustment: The linearly polarized light of traditional displays causes targeted stimulation to retinal lutein, resulting in dry eyes, eyelid redness and other discomforts. Based on the mainstream Circular Polarization (QWP) solution, BOE BNL has developed a series of technologies like BSF/RDF Random Depolarization technology and un-Polarization，which convert linearly polarized light into randomly polarized light, enabling balanced lutein utilization across the entire visual field, and deliver natural-light-level eye protection.

Spectrum Optimization: Conventional narrow-band RGB spectra feature poor continuity and imbalanced energy distribution, with excessive high-energy blue light that induces eye strain and increases risks of macular damage. Beyond Low Blue Light solutions, BOE BNL has developed Natural-like Spectrum, Beneficial Red Light, Infrared Light and Circadian Rhythm technologies. Multiple clinical studies have verified that Beneficial Red Light and Infrared Light can effectively inhibit axial elongation and accelerate eye microcirculation.  BOE takes the lead in integrating such optics into displays，achieving a spectral distribution matching degree of over 60%, an energy ratio of Beneficial Red Light (650–670 nm) exceeding 50%, and independent on/off switching and energy adjustment of Infrared Light. Meanwhile, Circadian Rhythm technology regulates melatonin secretion to safeguard sleep quality. Shifting from passive harm reduction to active eye benefits, BOE BNL delivers all-round visual health protection.

Light Profile Optimization: Conventional screens are prone to surface reflection and glare, which interfere with visual recognition and cause cumulative eye fatigue. Powered by industry-leading Anti-Glare, Low Reflection and Wide Viewing Angle technologies, BOE BNL accurately simulates the diffuse reflection of natural light to deliver consistent visual comfort across diverse viewing angles. For instance, BOE UB Cell technology achieves a DGR value below 5 with negligible glare and reflection, ensuring sustained visual comfort.

Time-varying Adaptation: Conventional displays tend to produce low-frequency flicker and fixed brightness and color temperature that fail to adapt to ambient changes, forcing frequent eye muscle adjustments and leading to discomfort. By adopting Flicker Free and Light Self-adaptive technologies, BOE BNL delivers stable, ultra-smooth visuals that replicate the comfort of natural light.

SID 2026: BOE Launches New BNL Display Products

At SID Display Week 2026, BOE launched new BNL health display products. The highlight product is the industry’s first 13.8-inch BNL health display tablet. It integrates all four core dimensions，supported by 7 core BNL technologies， to deliver a healthy and comfortable visual experience.

As a global leader in the display industry, BOE has led the development and officially issued the world’s first “Natural Light” display standard via the Zhongguancun Standardization Association，and has jointly issued the White Paper on Natural Light Display Technologies (Engineering Considerations, Application Value and Challenges) with TÜV Rheinland to drive standardized and high-quality industrial development. In the future, BOE will continue to iterate on technologies, diversify product forms and application scenarios, advance the grading standards for Beneficial “Natural” Light displays, and protect users’ visual health.

View original content to download multimedia:https://www.prnewswire.com/news-releases/boe-continues-to-launch-new-products-and-solutions-in-the-field-of-high-end-displays-302767491.html

SOURCE BOE Technology Group Co., Ltd.

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Technology

BitradeX BXC First Two Subscription Rounds Sell Out, Total Subscriptions Exceed 14M USDT

Published

11 hours ago

on

May 9, 2026

By

LONDON, May 9, 2026 /PRNewswire/ — BitradeX Capital’s ecosystem equity token, BXC, has completed its first and second subscription rounds, selling a total of 50 million BXC with subscriptions exceeding 14 million USDT. The first round sold out in 90 seconds, while the second closed within 48 hours.

While the fundraising size is not unusually large by crypto standards, the structure of the sale has attracted market attention. The first two rounds were not open to the public, but limited to high-tier BitradeX users. The first round was available only to V5 users and above, while the second round expanded access to V3 users and above.

According to BitradeX’s tier system, V3+ users typically have higher recurring investment activity through AiBot, longer platform usage history, and stronger ecosystem participation. This means the early BXC allocation was absorbed mainly by the platform’s internal high-value user base, rather than short-term speculative participants.

This approach differs from many token fundraising campaigns that prioritize broad public participation and market hype. BitradeX instead adopted a more selective, staged model, gradually lowering the participation threshold while keeping the sale within its active ecosystem community.

BXC is positioned as more than a standard platform token. Its value framework is linked to BitradeX Capital’s broader ecosystem, including its exchange business, AiBot quantitative strategies, BTX Card payments, and Labs incubation platform. Public information indicates that BXC holders may receive staking rewards, benefit from ecosystem buybacks and burns, and gain priority access to Launchpad projects and governance participation.

The third subscription round is launched on April 30 at $0.35 USDT per BXC, with a total supply of 100 million BXC. It is now open to users participating in AiBot recurring investment. The fourth round price is expected to rise to $0.45 USDT.

The long-term value of BXC will ultimately depend on the growth of BitradeX’s underlying businesses, including exchange profitability, AiBot user expansion, and BTX Card adoption. However, the rapid sellout of the first two rounds suggests that BitradeX’s core user base has already shown strong confidence in the ecosystem’s future.

View original content:https://www.prnewswire.com/news-releases/bitradex-bxc-first-two-subscription-rounds-sell-out-total-subscriptions-exceed-14m-usdt-302767467.html

SOURCE BitradeX Capital

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