Connect with us

Technology

Veralto Reports Third Quarter 2024 Results

Published

on

WALTHAM, Mass., Oct. 23, 2024 /PRNewswire/ — Veralto (NYSE: VLTO) (the “Company”), a global leader in essential water and product quality solutions dedicated to Safeguarding the World’s Most Vital Resources™ announced results for the third quarter ended September 27, 2024.

Key Third Quarter 2024 Results

Sales increased 4.7% year-over-year to $1,314 million, with non-GAAP core sales growth of 4.6%Operating profit margin was 23.4% and non-GAAP adjusted operating profit margin was 24.1%Net earnings were $219 million, or $0.88 per diluted common shareNon-GAAP, adjusted net earnings were $223 million, or $0.89 per diluted common shareOperating cash flow was $224 million and non-GAAP free cash flow was $215 million

“Our teams across the world executed well and delivered another quarter of strong performance with mid-single digit core sales growth, robust margin expansion and strong cash generation.  These results once again demonstrate the durability of our businesses, underpinned by global demand for clean water, safe food and trusted essential goods,” said Jennifer L. Honeycutt, President and Chief Executive Officer.  “The growth in Q3 was broad-based across key end markets and regions, highlighted by continued strong demand for industrial water treatment in North America and gradual recovery across consumer-packaged goods markets globally.”

“Our culture of continuous improvement, powered by the Veralto Enterprise System, has fortified our growth and strengthened our execution this year, while also enabling increased investments in sales, marketing and innovation to create future value.”

“Following our strong third quarter performance, we acquired TraceGains, a complementary addition to our packaging and color solutions.  TraceGains expands our ability to provide greater value to consumer brands by helping them digitize critical workflows and accelerate time-to-market.  Its recurring revenue, robust core sales growth, and attractive gross margins strengthen the financial profile of our PQI segment.  Moreover, TraceGains’ focus on increasing food safety is squarely aligned with our purpose — Safeguarding the World’s Most Vital Resources™,” concluded Honeycutt. 

2024 Guidance

The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP sales, such as currency translation, acquisitions, and divestitures.  

For the fourth quarter of 2024, Veralto anticipates non-GAAP core sales growth in the low-to-mid single-digits year-over-year with adjusted operating profit margin of approximately 24.0% and adjusted diluted earnings per share in the range of $0.86 to $0.90 per share.

For the full year 2024, the Company expects core sales growth in the low single-digits with adjusted operating profit margin expansion of approximately 75 basis points.  The Company raised its full year guidance for adjusted diluted earnings per share to a range of $3.44 to $3.48, up from its prior guidance of $3.37 to $3.45 per share.  Free cash flow conversion guidance was maintained at a range of 100% to 110%.

Conference Call and Webcast Information

Veralto will discuss its third quarter results and updated financial guidance for 2024 during its quarterly investor conference call tomorrow starting at 8:30 a.m. (ET).  Access to the call, webcast and an accompanying slide presentation will be available on the “Investors” section of Veralto’s website, www.veralto.com, under the subheading “News & Events” and additional materials will be posted to the same section of Veralto’s website.  A replay of the webcast will be available in the same section of Veralto’s website shortly after the conclusion of the call and will remain available until the next quarterly earnings call.

The conference call can be accessed by dialing +1 (800) 274-8461 (U.S.) or +1 (203) 518-9843 (INTL) (Conference ID:  VLTO3Q24).  A replay of the conference call will be available shortly after the conclusion of the call and until November 9, 2024.  You can access the replay dial-in information on the “Investors” section of Veralto’s website under the subheading “News & Events.”

ABOUT VERALTO

With annual sales of $5 billion, Veralto is a global leader in essential technology solutions with a proven track record of solving some of the most complex challenges we face as a society.  Our industry-leading companies with globally recognized brands are building on a long-established legacy of innovation and customer trust to create a safer, cleaner, more vibrant future. Headquartered in Waltham, Massachusetts, our global team of 16,000 associates is committed to making an enduring positive impact on our world and united by a powerful purpose: Safeguarding the World’s Most Vital Resources™.

NON-GAAP MEASURES AND SUPPLEMENTAL MATERIALS

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains non-GAAP financial measures.  Calculations of these measures, the reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures, as applicable, and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.

In addition, this earnings release, the slide presentation accompanying the related earnings call, non-GAAP reconciliations and a note containing details of historical and anticipated, future financial performance have been posted to the “Investors” section of Veralto’s website (www.veralto.com) under the subheading “Quarterly Earnings.”

FORWARD-LOOKING STATEMENTS

Certain statements in this release, including the statement regarding the Company’s anticipated fourth quarter and full year 2024 financial performance, the Company’s differentiation and positioning to continue delivering sustainable, long-term shareholder value and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are “forward-looking” statements within the meaning of the federal securities laws.  All statements other than historical factual information are forward-looking statements, including, without limitation, statements regarding: projections of revenue, expenses, profit, profit margins, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, Veralto’s liquidity position or other financial measures; Veralto’s management’s plans and strategies for future operations, including statements relating to anticipated operating performance, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions and the integration thereof, divestitures, spin-offs, split-offs or other distributions, strategic opportunities, securities offerings, stock repurchases, dividends and executive compensation; the effects of the separation or the distribution on Veralto’s business; growth, declines and other trends in markets Veralto sells into; new or modified laws, regulations and accounting pronouncements; future regulatory approvals and the timing thereof; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; future foreign currency exchange rates and fluctuations in those rates; general economic and capital markets conditions; the anticipated timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that Veralto intends or believes will or may occur in the future.  Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2023 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.  These forward-looking statements speak only as of the date of this release and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.

VERALTO CORPORATION

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF EARNINGS

($ and shares in millions, except per share amounts)

(unaudited)

Three-Month Period Ended

Nine-Month Period Ended

September 27, 2024

September 29, 2023

September 27, 2024

September 29, 2023

Sales

$              1,314

$              1,255

$              3,848

$              3,733

Cost of sales

(531)

(532)

(1,544)

(1,578)

Gross profit

783

723

2,304

2,155

Operating costs:

Selling, general and administrative expenses

(412)

(395)

(1,220)

(1,133)

Research and development expenses

(63)

(55)

(184)

(168)

Operating profit

308

273

900

854

Nonoperating income (expense):

Other income (expense), net

5

—

(9)

(14)

Interest expense, net

(27)

(5)

(85)

(5)

Earnings before income taxes

286

268

806

835

Income taxes

(67)

(63)

(200)

(196)

Net earnings

$                 219

$                 205

$                 606

$                 639

Net earnings per common share:

Basic

$                0.89

$                0.83

$                2.45

$                2.59

Diluted

$                0.88

$                0.83

$                2.43

$                2.59

Average common stock and common equivalent shares outstanding:

Basic

247.4

246.3

247.2

246.3

Diluted

250.0

246.3

249.4

246.3

This information is presented for reference only. 

 

VERALTO CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

Reconciliation of GAAP to Non-GAAP Financial Measures

($ in millions)

Three-Month Period Ended September 27, 2024

Sales

Operating
profit

Operating
profit margin

Net earnings
for calculation
of diluted
earnings per
common share

Diluted net
earnings per
common
share

Reported (GAAP)

$         1,314

$             308

23.4 %

$             219

$            0.88

Amortization of acquisition-related intangible assets A

—

7

0.5 %

7

0.03

Loss on disposition of certain product lines B

—

—

—

(5)

(0.02)

Other items C

—

2

0.2 %

2

0.01

Tax effect of the above adjustments F

—

—

—

(1)

—

Discrete tax adjustments G

—

—

—

1

—

Rounding

—

—

—

—

(0.01)

Adjusted (Non-GAAP)

$         1,314

$             317

24.1 %

$             223

$            0.89

 

Three-Month Period Ended September 29, 2023

Sales

Operating
profit

Operating
profit margin

Net earnings
for calculation
of diluted
earnings per
common share

Diluted net
earnings per
common
share

Reported (GAAP)

$         1,255

$             273

21.8 %

$             205

$            0.83

Amortization of acquisition-related intangible assets A

—

12

1.0

12

0.05

Impairments and other charges D

—

6

0.5

6

0.02

Standalone Adjustment E

2

(10)

(0.8)

(40)

(0.16)

Tax effect of the above adjustments F

—

—

—

7

0.03

Discrete tax adjustments G

—

—

—

(6)

(0.02)

Rounding

—

—

(0.1)

—

—

Adjusted (Non-GAAP)

$         1,257

$             281

22.4 %

$             184

$            0.75

 

VERALTO CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

 

Notes to Reconciliation of GAAP to Non-GAAP Financial Measures

($ in millions)

A

Amortization of acquisition-related intangible assets in the following historical periods (only the pretax amounts set forth below are reflected in the amortization line item above):

Three-Month Period Ended

September 27, 2024

September 29, 2023

Pretax

$                     7

$                   12

After-tax

5

9

B

Gain on the disposition of a certain product line in the three-month period ended September 29, 2023 ($5 million gain pretax as reported in this line item, $4 million gain after-tax).

C

Costs incurred in the three-month period ended September 27, 2024 related to certain strategic initiatives ($2 million pretax and after-tax as reported in this line item).

D

Impairment charge related to tradenames in the Product Quality & Innovation segment for the three-month period ended September 29, 2023 totaling $6 million, as reported in this line item, and $5 million after-tax.

E              

This amount encompasses management estimates of operating as a standalone entity.  The management estimate includes recurring and ongoing costs required to operate new functions required for a public company such as certain corporate functions including finance, tax, legal, human resources and other general and administrative related functions.  The pre-tax and after-tax effect of these estimates are summarized below:

Three-Month Period Ended

September 29, 2023

Impact to Operating Profit

$                                                (10)

Pretax

(40)

After-tax

(29)

F

This line item reflects the aggregate tax effect of all nontax adjustments reflected in the preceding line items of the table.  In addition, the footnotes above indicate the after-tax amount of each individual adjustment item.  Veralto estimates the tax effect of each adjustment item by applying Veralto’s overall estimated effective tax rate to the pretax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.

G

Discrete tax matters relate to changes in estimates associated with prior period uncertain tax positions, audit settlements and excess tax benefits from stock-based compensation.

 

VERALTO CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

Sales Growth by Segment, Core Sales Growth by Segment

% Change Three-Month Period Ended September 27, 2024
vs. Comparable 2023 Period

Segments

Total Company

Water Quality

Product Quality
and Innovation

Total sales growth (GAAP)

4.7 %

3.6 %

6.3 %

Impact of:

Acquisitions/divestitures

— %

0.2 %

(0.2) %

Currency exchange rates

(0.1) %

0.2 %

(0.4) %

Core sales growth (non-GAAP)

4.6 %

4.0 %

5.7 %

 

VERALTO CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

 

Forecasted Core Sales Growth, Adjusted Operating Profit Margin, and Adjusted Diluted Net Earnings per Share

The Company provides forecasted sales only on a non-GAAP basis because of the difficulty in estimating the other components of GAAP revenue, such as currency translation, acquisitions and divested product lines.  Additionally, we do not reconcile adjusted operating profit margin (or components thereof), adjusted diluted earnings per share or free cash flow to net earnings conversion ratio to the comparable GAAP measures because of the difficulty in estimating the other unknown components such as investment gains and losses, impairments and separation costs, which would be reflected in any forecasted GAAP operating profit, forecasted diluted earnings per share or forecasted net earnings ratio.

% Change Three-Month
Period Ending December 31, 2024
vs. Comparable 2023 Period

Core sales growth (non-GAAP)

+Low-single digit to
+Mid-single digit

Three-Month Period Ending
December 31, 2024

Adjusted Operating Profit Margin (non-GAAP)

~24.0%

Adjusted Diluted Net Earnings per Share (non-GAAP)

$0.86 to $0.90

% Change Year Ending
December 31, 2024 vs.
Comparable 2023 Period

Core sales growth (non-GAAP)

+Low-single digits

Year Ending December 31,
2024

Adjusted Operating Profit Margin (non-GAAP)

~75 basis points

Adjusted Diluted Net Earnings per Share (non-GAAP)

$3.44 to $3.48

Free cash flow to net earnings conversion ratio (non-GAAP)

100% to 110%

 

VERALTO CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

Cash Flow and Free Cash Flow

($ in millions) 

Three-Month Period Ended

Year-over-Year
Change

September 27,
2024

September 29,
2023

Total Cash Flows:

Net cash provided by operating activities (GAAP)

$                 224

$                 243

Total cash used in investing activities (GAAP)

$                    (6)

$                 (14)

Total cash provided by (used in) financing activities (GAAP)

$                 (16)

$                 206

Free Cash Flow:

Total cash provided by operating activities (GAAP)

$                 224

$                 243

            ~ (8.0)            %

Less: payments for additions to property, plant & equipment (capital expenditures) (GAAP)

(9)

(11)

Plus: proceeds from sales of property, plant & equipment (capital disposals) (GAAP)

—

—

Free cash flow (non-GAAP)

$                 215

$                 232

            ~ (7.5)            %

We define free cash flow as operating cash flows, less payments for additions to property, plant and equipment (“capital expenditures”) plus the proceeds from sales of plant, property and equipment (“capital disposals”).   

 

Statement Regarding Non-GAAP Measures

Each of the non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies.  Management believes that these measures provide useful information to investors by offering additional ways of viewing Veralto Corporation’s (“Veralto” or the “Company”) results that, when reconciled to the corresponding GAAP measure, help our investors:

with respect to the profitability-related non-GAAP measures, understand the long-term profitability trends of our business and compare our profitability to prior and future periods and to our peers;with respect to core sales and related sales measures, identify underlying growth trends in our business and compare our sales performance with prior and future periods and to our peers; andwith respect to free cash flow and related cash flow measures (the “FCF Measure”), understand Veralto’s ability to generate cash without external financings, strengthen its balance sheet, invest in its business and grow its business through acquisitions and other strategic opportunities (although a limitation of free cash flow is that it does not take into account the Company’s non-discretionary expenditures, and as a result the entire free cash flow amount is not necessarily available for discretionary expenditures).

Management uses these non-GAAP measures to measure the Company’s operating and financial performance.

The items excluded from the non-GAAP measures set forth above have been excluded for the following reasons:Amortization of Intangible Assets: We exclude the amortization of acquisition-related intangible assets because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate. While we have a history of significant acquisition activity, we do not acquire businesses on a predictable cycle, and the amount of an acquisition’s purchase price allocated to intangible assets and related amortization term are unique to each acquisition and can vary significantly from acquisition to acquisition. Exclusion of this amortization expense facilitates more consistent comparisons of operating results over time between our newly acquired and long-held businesses, and with both acquisitive and non-acquisitive peer companies. We believe however that it is important for investors to understand that such intangible assets contribute to sales generation and that intangible asset amortization related to past acquisitions will recur in future periods until such intangible assets have been fully amortized.Restructuring Charges: We exclude costs incurred pursuant to discrete restructuring plans that are fundamentally different (in terms of the size, strategic nature and planning requirements, as well as the inconsistent frequency, of such plans) from the ongoing productivity improvements that result from application of the Veralto Enterprise System. Because these restructuring plans are incremental to the core activities that arise in the ordinary course of our business and we believe are not indicative of Veralto’s ongoing operating costs in a given period, we exclude these costs to facilitate a more consistent comparison of operating results over time.Other Adjustments: With respect to the other items excluded from the profitability-related non-GAAP measures, we exclude these items because they are of a nature and/or size that occur with inconsistent frequency, occur for reasons that may be unrelated to Veralto’s commercial performance during the period and/or we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult.Standalone Adjustments: We believe these adjustments provide additional insight into how our businesses are performing, on a normalized basis. However, these non-GAAP financial measures should not be construed as inferring that our future results will be unaffected by the items for which the measure adjusts.With respect to core operating profit margin changes, in addition to the explanation set forth in the bullets above relating to “restructuring charges” and “other adjustments”, we exclude the impact of businesses owned for less than one year (or disposed of during such period and not treated as discontinued operations) because the timing, size, number and nature of such transactions can vary significantly from period to period and may obscure underlying business trends and make comparisons of long-term performance difficult.With respect to core sales related measures, (1) we exclude the impact of currency translation because it is not under management’s control, is subject to volatility and can obscure underlying business trends, and (2) we exclude the effect of acquisitions and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult.With respect to the FCF Measure, we exclude payments for additions to property, plant and equipment (net of the proceeds from capital disposals) to demonstrate the amount of operating cash flow for the period that remains after accounting for the Company’s capital expenditure requirements.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/veralto-reports-third-quarter-2024-results-302284633.html

SOURCE Veralto

Continue Reading

Technology

TutorABC Shop Launches Live Auction Streaming for Double 11

Published

on

By

iPhone 18 Pro Bidding Starts at NT$1 on November 11 as TutorABC Shop Opens Its Technology to Brands and Retailers

TAIPEI, Nov. 3, 2026 /PRNewswire/ — TutorABC Shop is launching a new real-time live auction shopping model this Double 11, combining livestreaming, instant bidding, social interaction and gamified shopping.

The initiative demonstrates how livestreaming can evolve beyond a marketing tool into a real-time commerce channel for brands, retailers, department stores, and e-commerce businesses.

>>【Join the Double 11 Auction】:https://www.tutorabc.com/count.asp?code=ss1MgB6iWT

A Fast-Growing Global E-Commerce Model

Platforms including Whatnot, TikTok Shop and eBay Live have continued to expand livestream shopping and real-time bidding.

TutorABC Shop has developed this technology to help businesses create more interactive shopping experiences across their own platforms, websites and digital channels.

>>【Join the Double 11 Auction】:https://www.tutorabc.com/count.asp?code=ss1MgB6iWT

Key features include:

Real-time bidding and purchasingLive product demonstrationsSocial interaction and entertainmentScarcity and time-limited competitionDirect engagement between brands and consumersIntegration into a brand’s or retailer’s existing digital ecosystem

>>【Join the Double 11 Auction】:https://www.tutorabc.com/count.asp?code=ss1MgB6iWT

Rodney Miles, Co-Chairman of TutorABC Shop, said:

“Consumers increasingly want shopping to be interactive, social and entertaining—not simply another discount. The larger opportunity for TutorABC Shop is to enable brands and retailers to use this technology across their own platforms and digital channels, helping them showcase products, engage directly with customers and generate sales in real time.”

>>【Join the Double 11 Auction】:https://www.tutorabc.com/count.asp?code=ss1MgB6iWT

Six Days of Live Bidding from November 6 to 11

TutorABC Shop will hold its “1111 Bidding Shopping Festival” from November 6 to November 11.

Highlights include:

Six consecutive days of live auction streamingA range of lifestyle and popular productsiPhone 18 Pro bidding starting at NT$1 on November 11Real-time viewing, bidding and interaction

The event will serve as a live demonstration of the technology and shopping experience that TutorABC Shop can provide to brands, retailers, department stores, and other commercial partners.

>>【Join the Double 11 Auction】:https://www.tutorabc.com/count.asp?code=ss1MgB6iWT

Technology and Platform Opportunities for Brands and Retailers

While TutorABC Shop will operate its own Double 11 event, the broader opportunity is to make its live auction technology and platform capabilities available to major retailers, brands and e-commerce players.

Businesses can use the technology on their own websites, apps, online stores or other digital platforms to create branded live commerce experiences without having to build the underlying system themselves.

>>【Join the Double 11 Auction】:https://www.tutorabc.com/count.asp?code=ss1MgB6iWT

Potential applications include:

New product launchesDedicated brand eventsLimited-edition productsHigh-interest productsInventory clearanceSpecial promotionsCustomer engagement campaignsLive commerce integrated into existing websites or e-commerce platforms

TutorABC Shop is seeking discussions with:

Major brandsRetail groupsE-commerce platformsOnline marketplacesDistributorsTechnology and channel partners 

>>【Join the Double 11 Auction】:https://www.tutorabc.com/count.asp?code=ss1MgB6iWT

The concept is simple:

Turn livestreaming from content into real-time commerce—on the platforms where businesses already engage with their customers.

Companies interested in licensing, integrating or deploying TutorABC Shop’s live auction technology across their own platforms and digital channels may contact the TutorABC Shop partnership team.

>>【Join the Double 11 Auction】:https://www.tutorabc.com/count.asp?code=ss1MgB6iWT

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/tutorabc-shop-launches-live-auction-streaming-for-double-11-302927263.html

SOURCE TutorABC Shop

Continue Reading

Technology

AGIBOT Unveils GO-3 Preview, Takes Top Spot on Three Embodied AI Benchmarks

Published

on

By

The new embodied foundation model connects pre-training, post-training and post-deployment learning, helping robots develop general-purpose capabilities and continuously improve through real-world experience.

SHANGHAI, Nov. 3, 2026 /PRNewswire/ — AGIBOT unveiled GO-3 Preview, an embodied foundation model that supports large-scale learning across the full lifecycle of pre-training, post-training and post-deployment. The model has also secured first-place rankings on three major embodied AI benchmarks—RoboDojo, RoboTwin and RoboColiseum—and will be fully open-sourced by the end of 2026.

Built on AGIBOT’s proprietary embodied-native architecture, WRAM (World Reasoning Action Model), GO-3 Preview unifies task understanding, future-state prediction and action generation to enable robots to generalize across tasks and perform precise manipulation. Together with Genie Evolver, AGIBOT’s hybrid post-training system, and Genie Master, its embodied agent framework, GO-3 Preview forms an integrated learning system spanning pre-training, post-training and real-world deployment. AGIBOT calls this approach “full-lifecycle scaling,” designed to help robots develop general capabilities, refine their skills through interaction and continuously improve by learning from real-world work.

Large language models have made remarkable advances in reasoning and knowledge-based tasks, but working in the physical world requires more than understanding instructions. Tasks such as grasping small objects and assembling components demand the ability to anticipate environmental changes, manage contact forces and execute precise physical movements. For embodied AI, the challenge is not simply to scale model training, but to extend learning across the entire lifecycle. Rather than developing capabilities solely during pre-training, robots must also learn through post-training interactions and continue adapting after deployment. GO-3 Preview is designed around this principle: enabling robots not only to learn how to perform tasks, but also to become more capable through performing them.

Pre-Training Scaling: Building General Capabilities That Transfer Across Tasks

Consider a simple instruction: “Pick up the cup.” The object could be a mug with a handle or a smooth glass, positioned in the middle of a table or surrounded by clutter. To handle such variations, a robot cannot simply memorize specific objects or fixed movements. It needs general-purpose capabilities that transfer across tasks and environments. During pre-training, GO-3 Preview addresses this challenge by scaling both data and model capabilities through its embodied-native WRAM architecture. This approach is designed to help robots learn transferable skills and adapt more quickly to unfamiliar situations.

WRAM connects task understanding, future-state prediction and action generation within a unified architecture. Three core designs — CoAE, SVP and KASO — work together to help the model understand what needs to be done, anticipate what may happen next and generate the actions required to complete a task.

CoAE (Control-Oriented Autoencoder) extracts visual representations tailored to robotic control, preserving information about object positions, shapes and spatial relationships. By linking visual perception to physical action, it provides a foundation for predicting future states and generating appropriate movements.

SVP generates a complete prediction of future states in a single step based on current observations and task conditions. The action-generation module then learns how to move from the current state toward the predicted outcome. By connecting the robot’s observations with possible future developments, SVP helps the model anticipate changes rather than relying solely on immediate visual input.

KASO addresses the challenge of multiple plausible outcomes in physical environments by selecting future predictions that are more consistent with the actions actually taken during training. These selected predictions are used for joint learning, helping align future-state prediction with action generation so the model can learn actions that lead to physically consistent outcomes.

Building on these three mechanisms, GO-3 Preview scales learning through both data and model development. On the data side, the model learns from heterogeneous sources. Human first-person videos provide rich examples of object interactions and task execution, while robot trajectories establish connections between observations, actions and their physical outcomes. On the model side, improvements in learning capacity help the system organize these diverse experiences and translate them into general capabilities that can be applied across different tasks. The goal is not simply to learn more examples, but to make better use of those experiences when encountering new situations.

Following pre-training, GO-3 Preview demonstrates task adaptation in both zero-shot and few-shot settings. In zero-shot scenarios, the model can apply previously learned capabilities to new tasks without requiring task-specific supervised fine-tuning on physical robots. This demonstrates its ability to transfer general skills to unfamiliar tasks and environments. For more complex operations, GO-3 Preview can further improve through few-shot learning, using a small number of demonstrations to adapt its capabilities.

LEGO assembly provides one example. The task requires a robot to identify individual components, grasp them precisely, align their positions and insert them correctly. With limited additional demonstrations and fine-tuning, the model can learn these precise manipulation skills, while an embodied agent coordinates the individual steps into a complete assembly process. Together, these examples demonstrate how pre-training can establish a general foundation that supports both direct task transfer and further adaptation.

Post-Training Scaling: Improving Through Physical and Virtual Interaction

General capabilities alone are not enough for robots to perform every complex task reliably. Just as people refine their skills through repeated practice, robots need opportunities to experiment, receive feedback and improve their action strategies. For GO-3 Preview’s post-training stage, AGIBOT developed Genie Evolver, a distributed hybrid-environment training system that combines a fleet of 100 physical robots with physics simulation and world models. By expanding the scale and diversity of interactions, Genie Evolver enables robots to learn from both physical execution and virtual exploration, continually refining their action policies through feedback. The system brings together three complementary learning environments.

Physical Robots: Learning from Collective Experience. In real-world environments, Genie Evolver uses CEL (Collective Experience Learning) to aggregate execution experience across multiple robots. Successful trajectories provide examples of effective actions, while the context surrounding failed attempts helps identify where improvements are needed. By retrieving relevant successful experiences and updating shared strategies, CEL allows lessons learned by individual robots to benefit the wider fleet. Rather than requiring each robot to learn everything independently, the system makes collective experience reusable.

Physics Simulation: Expanding the Range of Interactions. Physics simulation provides controlled environments in which robots can practice and be evaluated under different conditions. These environments expand the range of physical interactions and scenarios available for training, while allowing experiments to be repeated under consistent conditions. This makes it possible to explore alternative strategies and improve robustness across a broader range of situations.

World Models: Exploring Multiple Possible Futures. World models allow the system to learn more from each real-world experience by exploring alternative outcomes. Rather than treating an interaction as a single sequence of actions, Genie Evolver can revisit critical decision points, test different possible actions in a world model, and predict and compare their outcomes. Feedback from these explorations is then used to refine action strategies, which can subsequently be tested on physical robots.

Together, these environments create a continuous improvement process in which real-world execution, simulation and future-state exploration reinforce one another. AGIBOT demonstrates this approach through several manipulation tasks requiring precision, adaptation and rapid decision-making.

In tabletop curling, the robot must control both the force and angle of each shot. Too little force may fail to move an opponent’s stone, while excessive force can send the robot’s own stone outside the scoring area. Success depends on striking the right balance while accounting for the positions of the stones. According to AGIBOT, after just a few hours of practice combining real-world interaction and world-model learning, the robot achieved a higher win rate than typical human players.

Block extraction introduces a different challenge: each successful action changes the conditions for the next. When a red block is removed, the positions and orientations of the remaining blocks may shift. These changes can affect subsequent decisions, making it difficult to complete the task through a fixed sequence of movements. By drawing on accumulated experience, the robot can reassess the stack after each action, adjust its strategy and continue removing the target blocks until the task is complete.

Throwing a ball into a moving basket presents a more dynamic challenge. Unlike a stationary target, a moving basket gives the robot less time to observe, predict and react. The robot must rapidly identify the basket’s position while adjusting the force and angle of its throw in real time. Accurate predictions of fast-changing conditions are equally important, enabling the robot to coordinate its movements and release the ball at the right moment. Together, these demonstrations illustrate how GO-3 Preview can improve its manipulation capabilities through repeated interaction, feedback and strategy refinement.

Post-Deployment Scaling: Learning and Improving Through Real-World Work

Even with extensive pre-training and post-training, robots inevitably encounter situations they have never seen before once deployed in real-world environments. Traditionally, addressing such problems has often required human engineers to modify code, collect additional data or manually adjust the robot’s behavior. This limits how quickly capabilities can improve after deployment. AGIBOT’s approach is to extend learning into the deployment stage itself, allowing robots to improve while carrying out real tasks.

Through its embodied agent framework, Genie Master, AGIBOT connects planning, execution, feedback and experience retention to help robots adapt to new challenges and continuously develop their capabilities. Genie Master introduces EEP (Embodied Execution Protocol), which standardizes four categories of interfaces: capabilities, guidance, feedback and continuity. These interfaces allow an embodied agent to identify which robot capabilities are available, determine how tasks should be executed, assess whether the results meet the intended requirements and track work that remains unfinished. By connecting these functions, Genie Master helps robots coordinate task execution, identify failures, recover from exceptions and retain useful operational experience.

Crucially, this experience can contribute to future improvement through two complementary learning pathways. The first turns operational experience into long-term memory. During task planning and execution, the system records both successful and unsuccessful attempts, capturing lessons that can inform subsequent decisions. At the end of each day’s operations, the model consolidates reusable knowledge from these experiences into long-term memory. When similar tasks or situations arise, the agent can retrieve relevant past experiences to guide task planning, improve decisions and support recovery from failures. This allows lessons learned during one task to become useful knowledge for future operations.

The second pathway turns execution experience into improved action policies. As the agent assists with execution, takes over when necessary and supports recovery from failures, the system generates trajectories and feedback that capture problems, adjustments and outcomes. These records can be processed and used for further training of the robot’s action policies. Over time, effective adjustments can be incorporated into model parameters, turning practical experience into capabilities that can be reused in subsequent tasks. This creates a feedback loop in which deployment not only puts existing skills to work, but also generates new learning opportunities.

AGIBOT has demonstrated this approach using its Genie G2 robot in a real convenience store environment. Powered by Genie Master, the robot was able to identify the causes of task failures, adjust its strategies and accumulate experience while performing operational tasks. According to AGIBOT, the robot continued improving across multiple complex tasks requiring precise manipulation without relying on human demonstrations or manual tuning. The company describes the demonstration as an example of autonomous improvement without a human in the loop, in which the robot learns from its own operational experience rather than depending entirely on external intervention.

AGIBOT also describes this as a demonstration of Physical RSI (Recursive Self-Improvement in the Physical World) in a real business environment, extending the concept of self-improvement beyond simulation and laboratory settings. The significance of this approach lies in connecting real-world execution with continued learning. Instead of treating deployment as the final stage of model development, Genie Master makes operational experience a resource for ongoing improvement.

From GO-1 to GO-3: Extending Scaling Across the Full Learning Lifecycle

From the ViLLA framework introduced with GO-1 to the action chain-of-thought approach pioneered in GO-2, AGIBOT has continued expanding the capabilities of its embodied AI models. GO-3 Preview represents the next step in this development, extending scaling beyond pre-training to encompass post-training and learning after deployment. Its first-place rankings on RoboDojo, RoboTwin and RoboColiseum, together with demonstrations of task transfer, complex manipulation and real-world adaptation, highlight the potential of this full-lifecycle approach.

Rather than relying on improvements at a single stage, GO-3 Preview, Genie Evolver and Genie Master connect three essential processes: developing general capabilities through pre-training, refining action strategies through physical and virtual interaction, and turning real-world operational experience into continued learning. As data, feedback and experience form a continuous cycle, the system is designed to help robots expand their capabilities over time. For AGIBOT, full-lifecycle scaling represents a path from acquiring skills to applying, reusing and improving them — enabling robots to turn what they have learned into practical performance and every real-world task into an opportunity to become more capable.

For more information, please visit AGIBOT.com and follow AGIBOT on:
X: https://x.com/AGIBOTofficial
LinkedIn: https://www.linkedin.com/company/agibot/
YouTube: https://www.youtube.com/@AGIBOTofficial
Instagram: https://www.instagram.com/agibotofficial/
TikTok: https://www.tiktok.com/@agibotofficial
Facebook: https://www.facebook.com/AGIBOTofficial/

About AGIBOT
AGIBOT is a pioneer in the global general-purpose AI robotics industry, with its core technology focused on embodied AI. AGIBOT’s “Three Intelligences in One” architecture integrates Locomotion Intelligence, Interaction Intelligence, and Manipulation Intelligence into a unified embodied system. Its portfolio spans humanoid robots, quadrupeds, dexterous systems, and commercial cleaning solutions. In September 2026, AGIBOT announced that its 20,000th robot had rolled off the production line.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/agibot-unveils-go-3-preview-takes-top-spot-on-three-embodied-ai-benchmarks-302927277.html

SOURCE AGIBOT

Continue Reading

Technology

H World Group Asia Pacific and Agoda Established Five-Year Strategic Cooperation to Accelerate Hotel Expansion Across Asia-Pacific

Published

on

By

SINGAPORE, Nov. 3, 2026 /PRNewswire/ — H World Hotel Management Pte. Ltd. (“H World APAC”) and Agoda have entered into a five-year strategic cooperation agreement aimed at supporting H World APAC’s hotel network expansion and business volume increment across the Asia-Pacific region. The collaboration brings together the companies’ complementary strengths in market intelligence, business analytics, hotel distribution and performance marketing.

Driving Hotel Network Expansion Across Asia-Pacific

As part of the regional growth strategy, H World APAC is targeting the opening of approximately 70 hotels over the next five years. Under the collaboration, Agoda will support H World APAC’s expansion efforts by providing market intelligence, facilitating introduction to prospective hotel investors and partners, and supporting location assessment and business development initiatives in selected markets.

Leveraging Market Intelligence and Data Analytics

The partnership establishes a framework for collaboration in market intelligence and business data analytics, enabling both parties to identify growth opportunities and increase market share across the regions.

Through the sharing of relevant market insights and destination demand trends, H World APAC and Agoda will explore potential hotel development opportunities and strengthen network planning efforts.

Enhancing Hotel distribution and Driving Revenue Growth

A key component of the agreement focuses on creating additional value for hotels. Participating H World APAC properties will benefit from Agoda’s extensive distribution network, marketing initiatives, and revenue growth programs. These initiatives are designed to help participating hotels improve visibility, drive demand, and optimize commercial performance.

“Asia-Pacific is central to the next chapter of H World Group’s global growth journey. Our strengths in hotel operations, brand building, supply chain management and operational efficiency have enabled us to become the world’s fourth-largest hotel group by room count. Agoda complements these capabilities with deep demand intelligence and extensive market reach across Asia-Pacific. Together, we can accelerate our expansion in a more asset-light manner while creating a more compelling value proposition for hotel owners seeking a trusted growth partner.” said Murphy Zhu, President, H World Group Asia Pacific.

Andrew Smith, Senior Vice President, Agoda added, “We’re excited to support H World APAC’s ambitions across Asia-Pacific. Supporting growth starts with understanding where travellers want to go and what they’re looking for. With Agoda’s travel demand insights, global distribution reach, and local market expertise, we’re well positioned to help H World APAC identify opportunities and connect its hotels with more travellers.”

Through this five-year partnership, participating H World APAC hotels will gain access to a broader ecosystem of support encompassing market intelligence, business development, distribution, marketing, and performance enhancement initiatives. By combining Agoda’s global reach and distribution capabilities with H World APAC’s expertise in hotel management and operation, the collaboration aims to unlock new growth opportunities for hotels across the Asia-Pacific region.

Contact:
Ms. Yanni LO
Senior Marketing Manager, APAC
Email: lukaixin@hworld.com 
Phone: (+852) 3585 3095

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/h-world-group-asia-pacific-and-agoda-established-five-year-strategic-cooperation-to-accelerate-hotel-expansion-across-asia-pacific-302927290.html

SOURCE H World Hotel Management Pte. Ltd.

Continue Reading

Trending