Technology

Tribe Property Technologies Announces Record Revenue and 47% Improvement in Adjusted EBITDA in Q2-2024

Published

2 years ago

August 29, 2024

Tribe achieved record quarterly revenue of $6.16 million in Q2-2024, an increase of 28% from the same period last year, alongside a 47% Year-over-Year improvement in Adjusted EBITDA driven by increasing revenues and the execution of strategic integration and efficiency projects resulting in cost reductions.In Q2-2024, Tribe acquired DMSI Holdings, including its three subsidiaries, bringing its expected proforma revenue run-rate to over $31 million with improved profitability.During the quarter, Tribe completed a private placement equity financing for gross proceeds of $3.66 million and a LIFE financing for gross proceeds of $2.51 million, which allowed the Company to solidify its balance sheet and complete the DMSI acquisition.Management provides a strong growth outlook with the goal of achieving positive Adjusted EBITDA by the end of 2024, and cash flow positive in 2025.

VANCOUVER, BC, Aug. 29, 2024 /CNW/ – Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB: TRPTF) (“Tribe” or the “Company”), a leading provider of technology-elevated property management solutions, today announces its financial results for the second quarter ended June 30, 2024. All amounts are stated in Canadian dollars on an as reported basis under IFRS (International Financial Reporting Standards) unless otherwise indicated.

Joseph Nakhla, Chief Executive Officer of Tribe, commented, “We are thrilled to announce Tribe’s achievement of record quarterly revenue and a 47% improvement in Adjusted EBITDA(2) in Q2-2024. The second quarter was transformational for the Company, highlighted by our successfully completed acquisition of Toronto-based DMSI Holdings Ltd. (“DMSI”), propelling Tribe’s proforma annualized revenue run-rate to over $31 million; providing the Company with scale, and significantly improving Tribe’s profitability profile. The acquisition and integration of DMSI expands the Company’s footprint in residential rental and commercial property management, making Tribe the second largest multi-family rental management company in Canada(1), encompassing over 19,000 units in addition to more than 30,000 strata and condo units managed nationally.”

Joseph Nakhla further added, “Looking ahead, we anticipate continued revenue growth in the second half of the year, driven by organic growth and the DMSI acquisition. Improving profitability has been Tribe’s strategic focus over the past year, and we’re delighted to report that our efforts are yielding significant results, as reflected in our current expectation of achieving positive Adjusted EBITDA by the end of the year, followed by positive cash flows in 2025.”

Angelo Bartolini, Tribe’s President and Chief Financial Officer stated, “The outstanding progress we’ve made in the first half of the year underscores our unwavering commitment to delivering value to our shareholders. Our growth outlook for 2024 remains strong, supported by increasing monthly recurring revenue and ongoing efficiency measures, leading to improving gross margins and overall profitability. Tribe’s improved balance sheet, after the recently completed private placement and LIFE equity financings, enabled the Company to complete the DMSI acquisition. We are confident that Tribe is well positioned for a highly successful 2024 and 2025.”

Q2-2024 Financial Highlights:

Revenue: Tribe achieved record revenue of $6.16 million in Q2-2024, an increase of 28% compared to $4.82 million in Q2-2023. Revenue growth was positively impacted by organic growth and the acquisitions of DMSI and Meritus Group Management Inc.Gross profit(3): Gross profit was $2.34 million in Q2-2024, an increase of 50% compared to $1.56 million in Q2-2023. Gross profit was favorably impacted by the increase in revenue and the execution of strategic integration and efficiency projects resulting in cost reductions.Gross margin percentage: Tribe achieved Gross margin percentage of 41.5% in Q2-2024, compared to Gross margin percentage of 38.9% in Q2-2023. Gross margin percentage improvement was primarily accomplished through the integration of our back office, and efficiency efforts.Adjusted EBITDA(2): Tribe had an Adjusted EBITDA loss of $1.18 million in Q2-2024, an improvement of 47% compared to an Adjusted EBITDA loss of $2.21 million in Q2-2023. Revenue Segmentation: Recurring revenue, which is composed of Tribe’s tech-elevated management services fees, was $4.92 million in Q2-2024, an increase of 17%, compared to $4.20 million in Q2-2023. The increase in recurring revenue was due to the onboarding of new customers and the DMSI acquisition. Transactional revenue was $1.11 million as compared to $0.51 million in Q2-2023, representing an increase of 119%. This growth was primarily driven by an increase in financial services revenues and partnerships, underscoring the Company’s ongoing commitment to identifying new avenues for creating value for stakeholders while continuing to manage healthy communities.

Q2-2024 Business Highlights:

On June 3, 2024, Tribe completed a private placement equity financing in which the Company raised gross proceeds of $3,665,439 from the sale of units of the Company at a price of $0.52 per Unit. Each Unit consists of one common share and a half common share purchase warrant of the Company. Each warrant entitles the holder to acquire one common share at a price of $0.82 per common share, until June 3, 2029, subject to adjustment in certain events. The financing was led by PROPELR Growth, a Toronto based late-stage growth, equity investment fund, and also included participation from the operators of DMSI, the company’s latest acquisition.On June 4, 2024, Tribe completed the acquisition of DMSI including three operating subsidiaries of DMSI; DMS Property Management Ltd., Del Management Solutions Inc., and Delcom Management Services Inc. The acquisition propels Tribe’s proforma annualized revenue run-rate to over $31 million and significantly improves the Company’s profitability profile. In addition, the acquisition expands the Company’s footprint in residential rental and commercial property management.On June 21, 2024, Tribe completed a private placement equity financing under the Listed Issue Financing Exemption (“LIFE”), in which the Company raised gross proceeds of $2,510,400 from the sale of units of the Company (each, a “Unit”) at a price of $0.52 per Unit. Each Unit consists of one common share and a half common share purchase warrant of the Company. Each warrant entitles the holder to acquire one common share at a price of $0.82 per common share, until June 21, 2029, subject to adjustment in certain events. The financing included strong participation from the Company’s management team and other insiders.

Operational Highlights post June 30, 2024:

On July 17, 2024, Tribe launched its Tribe Home app for Android devices and introduced enhancements to its iOS version, increasing its market reach and making it easier than ever to manage and live in multi-family residential homes, such as condos and townhouses. On August 22, 2024, Tribe announced the rebranding and unification of all of DMSI’s service divisions under the name DMS. Tribe also announced it had begun the expansion of DMS’s service offerings to Tribe’s current customer base of Strata and Condo Corporations, Investor-Owners and Property Developers, expanding its comprehensive service offerings across Canada.

Outlook:

Tribe continues to outperform the general real estate conditions due to the Company’s aggressive M&A strategy, strong business development pipeline, healthy base of recurring revenue and its diversified revenue streams. In addition, Tribe has augmented its organic growth by selling more services to existing customers, leading to a marked increase in the Company’s revenue per home metric.

Management remains optimistic that 2024 will be a strong year for the Company, with improved revenue growth, profitability and expanding margins. The Company is pleased to reiterate its key goals for 2024:

Increase monthly recurring revenue. Organic growth will be fueled by landing new property management agreements, onboarding more communities onto the Tribe platform, winning new software licensing agreements and increasing digital services revenue. Make additional acquisitions. The company expects to continue executing on its aggressive M&A strategy. Tribe closed the recent acquisition of DMSI in June 2024 and continues to have several additional acquisition targets in its M&A pipeline.Improve profitability. The Company expects to continue to drive efficiencies in the business resulting in improved gross margins and enhancing Tribe’s EBITDA profile. The acquisition of DMSI also further accelerates the Company’s goal of achieving profitability.Continue to innovate. Tribe is committed to investing in its proprietary software platform and adding functionality to its suite of products in order to maintain its industry leadership position.

Tribe has a robust pipeline of new opportunities bolstered by the onboarding of existing buildings that are looking for new management, as well as brand new buildings nearing completion.

The persistent housing shortage across North America is a significant long-term trend that is expected to drive increased construction activity and further enhance demand for Tribe’s services for the foreseeable future. The cornerstone of Tribe’s sustained success is the exceptional quality of its property management technology solutions and superior services, coupled with the Company’s expansive national footprint.

Second Quarter 2024 Financial Webcast

The Company will hold a conference call and simultaneous webcast to discuss its results on August 29, 2024 at 1:00 pm ET (10:00 am PT). The call will be hosted by Joseph Nakhla, Chief Executive Officer, and Angelo Bartolini, Chief Financial Officer. Please dial-in 10 minutes prior to start of the call.

Webinar Details:

Date:

August 29, 2024

Time:

1:00 pm ET (10:00 am PT).

Webinar Registration:

https://bit.ly/TRBE-Q224-webinar

Dial-in:

+1 778 907 2071 (Vancouver local)

+1 647 374 4685 (Toronto local)

Meeting ID #:

872 4588 7422

Please connect 5 minutes prior to the conference call to ensure time for any software download that may be required.

Footnotes

(1)

Source: Canadian Apartment https://archives.reminetwork.com/canadian-apartment-may-june-2024/68749136

(2)

Adjusted EBITDA is a non-IFRS measure that does not have a standardized meaning and may not be comparable to a similar measure disclosed by other issuers. The Company defines Adjusted EBITDA as net income or loss excluding depreciation and amortization, stock-based compensation, interest expense, income tax expense, impairment charges and other expenses. The Company believes Adjusted EBITDA is a useful measure as it provides important and relevant information to management about the operating and financial performance of the Company. Adjusted EBITDA is provided as a proxy for the cash earnings (loss) from the operations of the business as operating income (loss) for the Company includes non-cash amortization and depreciation expense and stock-based compensation. Adjusted EBITDA also enables management to assess its ability to generate operating cash flow to fund future working capital needs, and to support future growth. Excluding these items does not imply that they are non-recurring or not useful to investors. Investors should be cautioned that Adjusted EBITDA attributable to shareholders should not be construed as an alternative to net income (loss) or cash flows as determined under IFRS.

(3)

Gross Profit and Gross Profit Percentage are non-IFRS measures that do not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. The Company defines Gross Profit as revenue less cost of software and services and software licensing fees, and Gross Profit Percentage as Pross Profit calculated as a percentage of revenue. Gross Profit and Gross Profit Percentage should not be construed as an alternative for revenue or net loss in accordance with IFRS. The Company believes that gross profit and gross profit percentage are meaningful metrics in assessing the Company’s financial performance and operational efficiency.

Non-IFRS Measures

The following and preceding discussion of financial results includes reference to Gross Profit, Gross Profit Percentage and Adjusted EBITDA, which are all non-IFRS financial measures.

Adjusted EBITDA2

Three months ended June 30

Six months ended June 30, 2024

$000s

2024

2023

2024

2023

Net loss

$ (2,697)

$ (2,716)

$ (4,900)

$ (5,128)

Depreciation

205

221

418

438

Amortization

262

147

524

294

Stock-based compensation

Interest expense

319

143

546

291

Interest income

–

(52)

Severance costs

–

Acquisition costs

570

–

624

–

Other

134

(16)

136

(3)

Adjusted EBITDA 2

$ (1,179)

$ (2,208)

$ (2,542)

$ (4,071)

Gross Profit3

Three Months Ended June
30

Six Months Ended
June 30

$000s

2024

2023

2024

2023

Revenue, excluding ancillary revenues

$ 5,639

$ 4,005

$ 10,323

$7,838

Cost of software & services and software license fees
(excluding costs related to ancillary revenues)

3,300

2,445

6,147

4,842

Gross Profit3

$ 2,339

$ 1,560

$ 4,176

$ 2,996

Gross Profit3 Percentage

41.5 %

38.9 %

40.5 %

38.2 %

Financial Statements and Management’s Discussion & Analysis

Please see the consolidated financial statements and related Management’s Discussion & Analysis (“MD&A”) for more details. The unaudited consolidated financial statements for the second quarter ended June 30, 2024 and related MD&A have been reviewed and approved by Tribe’s Audit Committee and Board of Directors. Tribe recognizes that most of its investors are now accessing corporate and financial information either through pushed news services, directly from www.tribetech.com or SEDAR. Thus, Tribe has prepared this truncated news release to alert investors to its results and that a more detailed explanation and analysis is readily available in the MD&A. These reports have been filed on SEDAR at www.sedar.com and posted at www.tribetech.com.

“Joseph Nakhla”
Chief Executive Officer
1606-1166 Alberni Street
Vancouver, British Columbia V6E 3Z3
Phone: (604) 343-2601
Email: joseph.nakhla@tribetech.com

About Tribe Property Technologies

Tribe is a property technology company that is disrupting the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe’s integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers. Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe’s platform decreases customer acquisition costs, increases retention, and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information.

Cautionary Statement on Forward-Looking Information

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws regarding the Company and its business. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Forward-looking statements or information in this news release may relate to statements with respect to the aims and goals of the Company; financial projections; growth plans including future prospective consolidation in the property management sector; future acquisitions by the Company; beliefs of the Company with respect to the property management industry and real estate market; prospective benefits of the Company’s platform; and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Tribe Property Technologies Inc.

Technology

AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future

Published

1 hour ago

July 18, 2026

Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda

BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.

Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.

Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.

VOICES FROM THE SUMMIT

“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei

“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand

“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA

“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF

“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)

“We fixed it before you feel it! AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS

“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia

“Beyond Connectivity: Telkomsel is transforming into a true value creator. By leveraging our FBB market-leading footprint, we power growth through service excellence, customer loyalty, and a next-generation home ecosystem.”
— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia

“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom

“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei

“Connectivity is not just about technology. It is a lifeline, a platform for opportunity, and a driver of sustainable development. I believe the intersection of connectivity and artificial intelligence will shape the future of smarter, more resilient networks.”
— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU

“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)

“At the summit, NIDA and WBBA signed an MOU to accelerate next-generation network evolution and establish pioneering smart city benchmarks through the co-development of industry standards, the harmonization of global regulations, and the sharing of vertical industry insights.
NIDA focuses on advancing network architecture standards, while WBBA drives global consensus on broadband evolution. This natural strategic complementarity creates vast opportunities for future collaboration.”
— Joey Deng, Secretary-General of NIDA

“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
— Dr. Marcus Brunner, Chief Expert Standardization, WBBA WG1 Chair and Vice-Chair of ETSI ISG F5G

“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA

“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International

“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT

“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
— Regie Ginanjar, Head of Transport Autonomy & Orchestration, Transport Network Transformation, XLSMART

“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei

A CONVERGING VIEW

Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.

WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.

In another high-profile segment, WBBA Director General Martin Creaner presented the Gigacity Certification to KOMDIGI, SURGE, Telkomsel, AIS, TRUE, HKT and Globe, recognizing regional broadband pioneers.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/ai-powered-connectivity-apac-charts-a-path-to-a-smarter-digital-future-302829032.html

SOURCE HUAWEI

Technology

Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

Published

2 hours ago

July 18, 2026

Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen:

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

View original content to download multimedia:https://www.prnewswire.com/news-releases/laifen-expands-us-retail-footprint-with-costco-launch-of-best-selling-se-hair-dryer-302828573.html

SOURCE Laifen

Technology

Pillsbury Notice of Data Breach

Published

5 hours ago

July 18, 2026

NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pillsbury-notice-of-data-breach-302828892.html

SOURCE Pillsbury Winthrop Shaw Pittman LLP