Technology
KYNDRYL REPORTS SECOND QUARTER FISCAL 2025 RESULTS
Published
2 years agoon
By
Revenues for the quarter ended September 30, 2024 total $3.8 billion, pretax loss is $5 million, and net loss is $43 millionAdjusted EBITDA is $557 million, adjusted pretax income is $45 million, and adjusted net income is $3 millionKyndryl Consult again delivers double-digit revenue growth in the quarter and over the last twelve monthsReaffirms outlook for fiscal year 2025, including constant-currency revenue growth in the fourth quarter, supported by a record level of post-spin signings in the most recent quarter and for the trailing twelve months
NEW YORK, Nov. 6, 2024 /PRNewswire/ — Kyndryl Holdings, Inc. (NYSE: KD), the world’s largest IT infrastructure services provider, today released financial results for the quarter ended September 30, 2024, the second quarter of its 2025 fiscal year.
“We continue to build momentum, delivering another quarter of signings growth and remaining well-positioned to deliver top-line growth in the fourth quarter of this fiscal year. Our strong performance was led by Kyndryl Consult, our alliances with hyperscalers and our expanding mission-critical capabilities in modernization, cloud, cyber-resiliency and AI readiness,” said Kyndryl Chairman and Chief Executive Officer Martin Schroeter.
Total signings in the quarter were a record $5.6 billion, representing a year-over-year increase of 132%. Total signings for the twelve months ended September 30, 2024 were $16.0 billion, a year-over-year increase of 33%.
“With Kyndryl Bridge powering our services, we’re attracting new customers through our differentiated innovation and delivering incremental value to our existing customers. We’re uniquely positioned at the nexus of secular trends shaping the evolution of IT, and we’ll continue to capitalize on these market opportunities and drive profitable growth,” Mr. Schroeter said.
Results for the Fiscal Second Quarter Ended September 30, 2024
For the second quarter, Kyndryl reported revenues of $3.8 billion, a year-over-year decline of 7% on both a reported and a constant-currency basis. The year-over-year revenue decline reflects the Company’s progress in reducing inherited no-margin and low-margin third-party content in customer contracts, particularly in its United States and Strategic Markets segments. The Company reported a pretax loss of $5 million and a net loss of $43 million, or ($0.19) per diluted share, in the quarter, compared to a net loss of $142 million, or ($0.62) per diluted share, in the prior-year period. Cash flow from operations was $149 million, an increase of $103 million compared to the prior-year period.
Adjusted pretax income was $45 million, an 80% increase compared to adjusted pretax income of $25 million in the prior-year period, reflecting contributions from the Company’s “three-A” initiatives and a reduction in depreciation expense due to the previously announced extension of the useful lives of the Company’s hardware assets, offset by the contractually required increase in IBM software costs, workforce rebalancing charges of $39 million and unfavorable currency movements.
In the quarter, adjusted EBITDA was $557 million, and adjusted free cash flow was $56 million. Both figures reflect workforce rebalancing actions implemented in the quarter.
“In the quarter, we continued to execute on our three-A initiatives to increase our earnings. Over the last twelve months, we’ve consistently grown our signings to incorporate a broader scope of services, while we continually enhance relationships to generate higher margins,” said David Wyshner, Kyndryl’s Chief Financial Officer. “The higher margins associated with our post-spin signings underpin our plans to reach high-single-digit adjusted pretax margins in our fiscal year 2027, which begins less than a year and half from now.”
Recent Developments
Alliances initiative – In the second quarter, Kyndryl recognized $260 million in revenue tied to cloud hyperscaler alliances, demonstrating continued progress toward the Company’s hyperscaler revenue target of nearly $1 billion in fiscal year 2025.Advanced Delivery initiative – The AI-enabled Kyndryl Bridge operating platform is further enhancing the world-class technology services the Company provides and creating additional revenue opportunities. It has also helped Kyndryl free up more than 11,500 delivery professionals. This has generated annualized savings of approximately $700 million as of quarter-end, tracking toward the Company’s $750 million fiscal 2025 year-end goal.Accounts initiative – Kyndryl continued to address elements of contracts with substandard margins, bringing the total impact from this initiative to $775 million of annualized benefits, on track to achieve the Company’s $850 million fiscal 2025 year-end objective.Strong projected margin on recent signings – In the quarter, projected pretax income margins associated with total signings were in the high-single-digit range, in line with recent quarters, reflecting the Company’s focus on margin expansion.Double-digit growth in Kyndryl Consult – In the second quarter, Kyndryl Consult revenues grew 23% year-over-year. Kyndryl Consult signings grew 81% year-over-year in the second quarter, and have grown 41% year-over-year over the last twelve months.Securities Industry Services (SIS) divestiture – The Company completed its previously announced sale of its Securities Industry Services platform in Canada earlier this month.
Reaffirming Fiscal Year 2025 Outlook
Kyndryl is reaffirming its outlook for its fiscal year 2025, which runs from April 2024 to March 2025:
Adjusted EBITDA margin of at least 16.3%, representing a year-over-year increase of at least 160 basis points.Adjusted pretax income of at least $460 million, representing a year-over-year increase of at least $295 million.Constant-currency revenue growth of (2%) to (4%), which now implies fiscal 2025 revenue of $15.2 to $15.5 billion based on recent exchange rates. The Company continues to expect to deliver year-over-year constant-currency revenue growth in the fourth quarter of the fiscal year.Adjusted free cash flow of approximately $300 million.
Forecasted amounts are based on currency exchange rates as of October 2024.
Earnings Webcast
Kyndryl’s earnings call for the second fiscal quarter is scheduled to begin at 8:30 a.m. ET on November 7, 2024. The live webcast can be accessed by visiting investors.kyndryl.com on Kyndryl’s investor relations website. A slide presentation will be made available on Kyndryl’s investor relations website before the call on November 7, 2024. Following the event, a replay will be available via webcast for twelve months at investors.kyndryl.com.
About Kyndryl
Kyndryl (NYSE: KD) is the world’s largest IT infrastructure services provider, serving thousands of enterprise customers in more than 60 countries. The Company designs, builds, manages and modernizes the complex, mission-critical information systems that the world depends on every day. For more information, visit www.kyndryl.com.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements concerning the Company’s plans, objectives, goals, beliefs, business strategies, future events, business condition, results of operations, financial position, business outlook and business trends and other non-historical statements, including without limitation the information presented in the “Outlook” section of this press release (which does not assume any future acquisitions or divestitures), are forward-looking statements. Such forward-looking statements often contain words such as “aim,” “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “opportunity,” “plan,” “position,” “predict,” “project,” “should,” “seek,” “target,” “will,” “would” and other similar words or expressions or the negative thereof or other variations thereon. Forward-looking statements are based on the Company’s current assumptions and beliefs regarding future business and financial performance.
The Company’s actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others: failure to attract new customers, retain existing customers or sell additional services to customers; failure to meet growth and productivity objectives; competition; impacts of relationships with critical suppliers and partners; failure to address and adapt to technological developments and trends; inability to attract and retain key personnel and other skilled employees; impact of economic, political, public health and other conditions; damage to the Company’s reputation; inability to accurately estimate the cost of services and the timeline for completion of contracts; service delivery issues; the Company’s ability to successfully manage acquisitions and dispositions, including integration challenges, failure to achieve objectives, the assumption of liabilities and higher debt levels; the impact of our business with government customers; failure of the Company’s intellectual property rights to prevent competitive offerings and the failure of the Company to obtain, retain and extend necessary licenses; the impairment of our goodwill or long-lived assets; risks relating to cybersecurity, data governance and privacy; risks relating to non-compliance with legal and regulatory requirements; adverse effects from tax matters and environmental matters; legal proceedings and investigatory risks; the impact of changes in market liquidity conditions and customer credit risk on receivables; the Company’s pension plans; the impact of currency fluctuations; risks related to the Company’s spin-off; and risks related to the Company’s common stock and the securities market.
Additional risks and uncertainties include, among others, those risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, and may be further updated from time to time in the Company’s subsequent filings with the Securities and Exchange Commission. Any forward-looking statement in this press release speaks only as of the date on which it is made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
In this release, certain amounts may not add due to the use of rounded numbers; percentages presented are calculated based on the underlying amounts.
Non-GAAP Financial Measures
In an effort to provide investors with additional information regarding its results, the Company has provided certain metrics that are not calculated based on generally accepted accounting principles (GAAP), such as constant-currency results, adjusted EBITDA, adjusted pretax income, adjusted net income, adjusted EPS, adjusted EBITDA margin, adjusted pretax margin, adjusted net margin and adjusted free cash flow. Such non-GAAP metrics are intended to supplement GAAP metrics, but not to replace them. The Company’s non-GAAP metrics may not be comparable to similarly titled metrics used by other companies. Definitions of non-GAAP metrics and reconciliations of non-GAAP metrics for historical periods to GAAP metrics are included in the tables in this release.
A reconciliation of forward-looking non-GAAP financial information is not included in this release because the Company is unable to predict with reasonable certainty some individual components of such reconciliation without unreasonable effort. These items are uncertain, depend on various factors and could have a material impact on future results computed in accordance with GAAP.
Investor Contact:
Lori Chaitman
lori.chaitman@kyndryl.com
Media Contact:
Ed Barbini
edward.barbini@kyndryl.com
Table 1
CONSOLIDATED INCOME STATEMENT
(in millions, except per share amounts)
Three Months Ended
Six Months Ended
September 30,
September 30,
2024
2023
2024
2023
Revenues
$
3,774
$
4,073
$
7,513
$
8,266
Cost of services
$
3,024
$
3,422
$
5,958
$
6,871
Selling, general and administrative expenses
647
634
1,304
1,353
Workforce rebalancing charges
39
39
74
97
Transaction-related costs
—
48
21
89
Interest expense
25
31
52
61
Other expense
44
8
44
13
Total costs and expenses
$
3,779
$
4,182
$
7,454
$
8,484
Income (loss) before income taxes
$
(5)
$
(109)
$
59
$
(218)
Provision for income taxes
38
33
91
65
Net income (loss)
$
(43)
$
(142)
$
(32)
$
(283)
Earnings per share data
Basic earnings (loss) per share
$
(0.19)
$
(0.62)
$
(0.14)
$
(1.24)
Diluted earnings (loss) per share
(0.19)
(0.62)
(0.14)
(1.24)
Weighted-average basic shares outstanding
231.6
229.1
231.1
228.5
Weighted-average diluted shares outstanding
231.6
229.1
231.1
228.5
Table 2
SEGMENT RESULTS
AND SELECTED BALANCE SHEET INFORMATION
(dollars in millions)
Three Months Ended September 30,
Year-over-Year Growth
As
Constant
Segment Results
2024
2023
Reported
Currency
Revenue
United States
$
960
$
1,108
(13 %)
(13 %)
Japan
604
569
6 %
9 %
Principal Markets1
1,318
1,376
(4 %)
(5 %)
Strategic Markets1
892
1,019
(12 %)
(11 %)
Total revenue
$
3,774
$
4,073
(7 %)
(7 %)
Adjusted EBITDA2
United States
$
159
$
176
Japan
94
84
Principal Markets
187
169
Strategic Markets
138
166
Corporate and other3
(22)
(21)
Total adjusted EBITDA
$
557
$
574
Six Months Ended September 30,
Year-over-Year Growth
As
Constant
Segment Results
2024
2023
Reported
Currency
Revenue
United States
$
1,946
$
2,272
(14 %)
(14 %)
Japan
1,174
1,180
(0 %)
7 %
Principal Markets1
2,633
2,768
(5 %)
(5 %)
Strategic Markets1
1,761
2,046
(14 %)
(13 %)
Total revenue
$
7,513
$
8,266
(9 %)
(8 %)
Adjusted EBITDA2
United States
$
292
$
412
Japan
177
184
Principal Markets
428
320
Strategic Markets
258
315
Corporate and other3
(42)
(45)
Total adjusted EBITDA
$
1,113
$
1,186
September 30,
March 31,
Balance Sheet Data
2024
2024
Cash and equivalents
$
1,325
$
1,553
Debt (short-term and long-term)
3,241
3,238
___________________________
1
Principal Markets is comprised of Kyndryl’s operations in Canada, France, Germany, India, Italy, Spain/Portugal and the United Kingdom/Ireland. Strategic Markets is comprised of Kyndryl’s operations in all other geographic locations. Kyndryl’s operations in Australia/New Zealand transitioned from Principal Markets to Strategic Markets in the quarter ended June 30, 2024; historical segment information has been updated to reflect this change.
2
In the three months ended September 30, 2024, amounts include workforce rebalancing charges of $12 million in United States, $2 million in Japan, $9 million in Principal Markets, and $16 million in Strategic Markets. In the six months ended September 30, 2024, amounts include workforce rebalancing charges of $27 million in United States, $3 million in Japan, $13 million in Principal Markets, and $31 million in Strategic Markets.
3
Represents net amounts not allocated to segments.
Table 3
CONSOLIDATED STATEMENT OF CASH FLOWS
(dollars in millions)
Six Months Ended September 30,
2024
2023
Cash flows from operating activities:
Net income (loss)
$
(32)
$
(283)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization
Depreciation of property, equipment and capitalized software
276
431
Depreciation of right-of-use assets
154
173
Amortization of transition costs and prepaid software
647
631
Amortization of capitalized contract costs
205
281
Amortization of acquisition-related intangible assets
17
15
Stock-based compensation
49
48
Deferred taxes
17
51
Net (gain) loss on asset sales and other
(14)
22
Change in operating assets and liabilities:
Deferred costs (excluding amortization)
(852)
(699)
Right-of-use assets and liabilities (excluding depreciation)
(145)
(195)
Workforce rebalancing liabilities
(13)
(18)
Receivables
193
(110)
Accounts payable
(237)
(494)
Taxes
(31)
(55)
Other assets and other liabilities
(133)
75
Net cash provided by (used in) operating activities
$
101
$
(127)
Cash flows from investing activities:
Capital expenditures
$
(256)
$
(275)
Proceeds from disposition of property and equipment
54
119
Acquisitions and divestitures, net of cash acquired
(46)
—
Other investing activities, net
7
(53)
Net cash used in investing activities
$
(241)
$
(208)
Cash flows from financing activities:
Debt repayments
$
(73)
$
(67)
Common stock repurchases for tax withholdings
(24)
(12)
Other financing activities, net
(5)
(1)
Net cash provided by (used in) financing activities
$
(101)
$
(80)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
$
17
$
(33)
Net change in cash, cash equivalents and restricted cash
$
(224)
$
(448)
Cash, cash equivalents and restricted cash at beginning of period
$
1,554
$
1,860
Cash, cash equivalents and restricted cash at end of period
$
1,330
$
1,412
Supplemental data
Income taxes paid, net of refunds received
$
89
$
88
Interest paid on debt
$
60
$
59
___________________________
Net cash provided by (used in) operating activities was $149 million in the three months ended September 30, 2024 and ($48) million in the three months ended June 30, 2024.
Table 4
NON-GAAP METRIC DEFINITIONS AND RECONCILIATIONS
(dollars in millions, except signings)
We report our financial results in accordance with GAAP. We also present certain non-GAAP financial measures to provide useful supplemental information to investors. We provide these non-GAAP financial measures as we believe it enhances investors’ visibility to management decisions and their impacts on operational performance; enables better comparison to peer companies; and allows us to provide a long-term strategic view of the business going forward.
Constant-currency information compares results between periods as if exchange rates had remained constant period over period. We define constant-currency revenues as total revenues excluding the impact of foreign exchange rate movements and use it to determine the constant-currency revenue growth on a year-over-year basis. Constant-currency revenues are calculated by translating current period revenues using corresponding prior-period exchange rates.
Adjusted pretax income (loss) is defined as pretax income (loss) excluding transaction-related costs and benefits, charges related to ceasing to use leased / fixed assets, charges related to lease terminations, pension costs other than pension servicing costs and multi-employer plan costs, stock-based compensation expense, amortization of acquisition-related intangible assets, workforce rebalancing charges incurred prior to March 31, 2024, impairment expense, significant litigation costs and benefits, and currency impacts of highly inflationary countries. The Company’s fiscal year 2025 outlook for adjusted pretax income includes approximately $100 million of anticipated workforce rebalancing charges. Adjusted pretax margin is calculated by dividing adjusted pretax income by revenue.
Adjusted EBITDA is defined as net income (loss) excluding net interest expense, income taxes, depreciation and amortization (excluding depreciation of right-of-use assets and amortization of capitalized contract costs), charges related to ceasing to use leased / fixed assets, charges related to lease terminations, transaction-related costs and benefits, pension costs other than pension servicing costs and multi-employer plan costs, stock-based compensation expense, workforce rebalancing charges incurred prior to March 31, 2024, impairment expense, significant litigation costs and benefits, and currency impacts of highly inflationary countries. The Company’s fiscal year 2025 outlook for adjusted EBITDA includes approximately $100 million of anticipated workforce rebalancing charges. Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue.
Adjusted net income is defined as adjusted pretax income less the reported provision for income taxes, minus or plus the tax effect of the non-GAAP adjustments made to calculate adjusted pretax income, and excluding exceptional items impacting the reported provision for income taxes. Adjusted net margin is calculated by dividing adjusted net income by revenue.
Adjusted earnings per share (EPS) is defined as adjusted net income divided by diluted weighted average shares outstanding to reflect shares that are dilutive or anti-dilutive based on the amount of adjusted net income. The weighted average common shares outstanding used to calculate adjusted earnings (loss) per share will differ from such shares used to calculate diluted earnings (loss) per share (GAAP) when the inclusion of dilutive shares has an anti-dilutive effect for one calculation but not for the other.
Adjusted free cash flow is defined as cash flows from operating activities (GAAP) after adding back transaction-related payments, charges related to lease terminations, payments related to workforce rebalancing charges incurred prior to March 31, 2024, and significant litigation payments, less net capital expenditures. Management uses adjusted free cash flow as a measure to evaluate its operating results, plan strategic investments and assess our ability and need to incur and service debt. We believe adjusted free cash flow is a useful supplemental financial measure to aid investors in assessing our ability to pursue business opportunities and investments and to service our debt. Adjusted free cash flow is a financial measure that is not recognized under U.S. GAAP and should not be considered as an alternative to cash flows from operations or liquidity derived in accordance with U.S. GAAP.
Signings are defined by Kyndryl as an initial estimate of the value of a customer’s commitment under a contract. The calculation involves estimates and judgments to gauge the extent of a customer’s commitment. We calculate this based on various considerations including the type and duration of the agreement as well as the presence of termination charges or wind-down costs. Contract extensions and increases in scope are treated as signings only to the extent of the incremental new value. Signings can vary over time due to a variety of factors including, but not limited to, the timing of signing a small number of larger outsourcing contracts, as well as the length of those contracts. The conversion of signings into revenue may vary based on the types of services and solutions, customer decisions and other factors, which may include, but are not limited to, macroeconomic environment or external events. Management uses signings as a tool to monitor the performance of the business including the business’ ability to attract new customers and sell additional scope into our existing customer base.
Reconciliation of net income (loss)
to adjusted pretax income,
adjusted EBITDA, adjusted net
Three Months Ended
Six Months Ended
income (loss) and adjusted EPS
September 30,
September 30,
(in millions, except per share amounts)
2024
2023
2024
2023
Net income (loss) (GAAP)
$
(43)
$
(142)
$
(32)
$
(283)
Provision for income taxes
38
33
91
65
Pretax income (loss) (GAAP)
$
(5)
$
(109)
$
59
$
(218)
Workforce rebalancing charges incurred prior to March 31, 2024
—
39
—
97
Charges related to ceasing to use leased/fixed assets and lease terminations
10
—
20
10
Transaction-related costs
—
48
21
89
Stock-based compensation expense
25
25
49
48
Amortization of acquisition-related intangible assets
10
7
17
15
Other adjustments1
5
15
(27)
31
Adjusted pretax income (non-GAAP)
$
45
$
25
$
138
$
72
Interest expense
25
31
52
61
Depreciation of property, equipment and capitalized software2
150
212
276
422
Amortization of transition costs and prepaid software
337
306
647
631
Adjusted EBITDA (non-GAAP)
$
557
$
574
$
1,113
$
1,186
Net income (loss) margin
(1.1) %
(3.5) %
(0.4) %
(3.4) %
Adjusted EBITDA margin
14.8 %
14.1 %
14.8 %
14.4 %
Adjusted pretax income (non-GAAP)
$
45
$
25
$
138
$
72
Provision for income taxes (GAAP)
(38)
(33)
(91)
(65)
Tax effect of non-GAAP adjustments
(4)
(4)
(12)
(19)
Adjusted net income (loss) (non-GAAP)
$
3
$
(12)
$
35
$
(12)
Diluted weighted average shares outstanding for calculating Adjusted EPS3
238.2
229.1
237.0
228.5
Diluted earnings (loss) per share (GAAP)
$
(0.19)
$
(0.62)
$
(0.14)
$
(1.24)
Adjusted earnings (loss) per share (non-GAAP)
$
0.01
$
(0.05)
$
0.15
$
(0.05)
___________________________
1
Other adjustments represent pension costs other than pension servicing costs and multi-employer plan costs, significant litigation costs and benefits, and currency impacts of highly inflationary countries.
2
Amounts for the three and six months ended September 30, 2023 exclude $9 million of expense that is included in transaction-related costs.
3
For the three and six months ended September 30, 2024, the computation of adjusted earnings (loss) per share (EPS) included certain securities that were dilutive to the calculation.
Three Months Ended
Six Months Ended
Reconciliation of cash flow from operations
September 30,
September 30,
to adjusted free cash flow (in millions)
2024
2023
2024
2023
Cash flows from operating activities (GAAP)
$
149
$
46
$
101
$
(127)
Plus: Transaction-related payments (benefits)
—
42
5
84
Plus: Workforce rebalancing payments related to charges incurred prior to March 31, 2024
4
34
25
113
Plus: Significant litigation payments
6
10
10
44
Plus: Payments related to lease terminations
—
(2)
—
5
Less: Net capital expenditures
(104)
(61)
(202)
(155)
Adjusted free cash flow (non-GAAP)
$
56
$
69
$
(60)
$
(37)
Three Months Ended
Six Months Ended
September 30,
September 30,
Signings (in billions)
2024
2023
2024
2023
Signings1
$
5.6
$
2.4
$
8.7
$
5.2
___________________________
1
Signings for the three months ended September 30, 2024 increased by 132%, and 133% in constant currency, compared to the three months ended September 30, 2023. Signings for the six months ended September 30, 2024 increased by 67%, and 69% in constant currency, compared to the six months ended September 30, 2023.
View original content to download multimedia:https://www.prnewswire.com/news-releases/kyndryl-reports-second-quarter-fiscal-2025-results-302297864.html
SOURCE Kyndryl
You may like
Technology
Yiren Digital Accelerates Operating Efficiency Through AI Agent Deployment
Published
34 minutes agoon
July 23, 2026By
Broader AI adoption improves productivity across asset recovery and enterprise operations
BEIJING, July 23, 2026 /PRNewswire/ — Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets, today announced measurable operating efficiency improvements as it continues to deploy AI agents across core enterprise workflows. Broader AI adoption is reducing manual intervention, increasing workforce productivity and creating greater operating leverage by automating high-volume processes across multiple business functions.
These deployments are a key component of Yiren Digital’s “All-in-AI” strategy and its broader transition from AI-assisted productivity toward agent-driven execution. By embedding AI agents into core workflows, the Company is creating reusable operating capabilities that can be deployed across its businesses, supporting greater efficiency and reducing the cost of extending automation into new functions.
“Our objective is not simply to automate individual tasks, but to fundamentally improve how work is performed across the enterprise,” said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. “As AI agents take on more of our high-volume, demanding workflows, the productivity gains are becoming a structural part of how we run the business, not a one-time efficiency project. We will continue to deepen AI integration across our existing businesses while extending reusable capabilities into additional verticals.”
The AI deployments are supported by the Company’s proprietary enterprise AI architecture, including MagiCube 2.0, its upgraded multi-agent platform. The platform provides common infrastructure for agents deployed across marketing, customer service, capital operations, risk management, compliance and research and development, with more than 10 reusable foundational capabilities, supporting enterprise-wide execution.
Measurable Operating Impact
Lower manual intervention: The human handling rate in asset-recovery operations decreased from 45.0% to 24.9%, representing a 20.1-percentage-point decline, an approximately 44.6% relative reduction in manual intervention.
Higher staff productivity: The number of service tickets handled per asset-recovery staff member within the applicable Month 1 workflow increased from 358 to 525, an improvement of approximately 47%.
Expanded agent adoption: AI agents accounted for 81% of service tickets within eligible Day 1 asset-recovery workflows in 2025, up from 50% in 2024. The Company also deployed AI agents selectively in later-stage workflows, accounting for 20% of eligible service tickets at Day 4, 14% at Day 16 and 20% at Month 2. Each percentage is calculated separately for the relevant stage and should not be interpreted as a sequential adoption trend.
Enterprise-wide reuse: MagiCube 2.0 supports agent deployment across six enterprise functions, allowing the Company to apply common AI capabilities to a broader range of regulated and high-volume workflows.
Enterprise-scale AI execution: The Fengchao AI voice agent processes approximately 1,500 hours of real-time speech-to-text activity each day. The LingShu intelligent marketing platform executes more than 1,700 tasks daily and generates individualized communication content in an average of 0.6 seconds.
Building Enterprise Operating Leverage Through AI
As AI deployment expands across the enterprise, Yiren Digital is increasingly shifting repetitive, high-volume tasks from human-assisted processes toward agent-driven execution. By combining AI agents with centralized orchestration and governance, the Company is improving operating consistency, strengthening workforce productivity and creating reusable capabilities that increase operating leverage as AI is deployed across additional business functions.
Yiren Digital plans to continue expanding agent-driven workflows across its credit and insurance operations, as part of its ongoing All-in-AI strategy, while strengthening the shared architecture and governance that support enterprise-wide AI deployment. These capabilities are designed to scale across multiple use cases and provide a foundation for the Company’s broader expansion into AI application-layer opportunities, including AI entertainment and AI-assisted language learning.
About Yiren Digital
Yiren Digital Ltd. is a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets. The Company leverages advanced artificial intelligence and emerging technologies to enhance customer experience, optimize capital efficiency, and expand financial inclusion. Following the regulatory filing of its in-house developed Large Language Model Zhiyu, and the significant enhancement of its MagiCube Agent platform, Yiren Digital is establishing a new growth engine to accelerate its evolution into an AI-native, multi-industry operating platform extending beyond traditional financial services. For more information, please visit https://ir.yiren.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “hope,” “going forward,” “intend,” “ought to,” “plan,” “project,” “potential,” “seek,” “may,” “might,” “can,” “could,” “will,” “would,” “shall,” “should,” “is likely to” and the negative form of these words and other similar expressions. This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident,” and similar expressions. Forward-looking statements are based on management’s current expectations, assumptions, and assessments of current market and operating conditions. These statements involve inherent risks, uncertainties, and other factors, many of which are outside the control of the Company, and which could cause actual results to differ materially from those expressed or implied in such statements. Actual results may differ materially from those expressed or implied in forward-looking statements due to a variety of factors and other risks described in the Company’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company undertakes no, and expressly disclaims any, obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law.
View original content:https://www.prnewswire.com/news-releases/yiren-digital-accelerates-operating-efficiency-through-ai-agent-deployment-302833201.html
SOURCE Yiren Digital Ltd.
Technology
Infinium Edge Launches EdgeSites™, a New Infrastructure Model for Deploying AI Compute at Existing Commercial and Industrial Facilities
Published
34 minutes agoon
July 23, 2026By
EdgeSites delivers operational AI infrastructure in existing powered buildings — factory-built data center modules, waterless cooling, and ready in months without new construction or grid interconnection required.
SACRAMENTO, Calif., July 23, 2026 /PRNewswire/ — Infinium Edge™ today announced Infinium EdgeSites™, a development program that utilizes existing commercial and industrial facilities to deploy operational AI compute infrastructure. Built around Infinium Edge’s proprietary Edge Thermal Vectoring™ immersion cooling platform, EdgeSites enables high-density GPU deployments in existing buildings that were never designed as data centers — without new construction, without cooling water infrastructure, and without the multi-year grid interconnection timelines that constrain conventional large-scale data center development.
More than 20 million commercial and industrial electricity customers in the US are served by electrical infrastructure sized to peak demand – which industry research shows are utilized at only 40-60% on average. That unused headroom, capacity already contracted, energized, and sitting behind the meter, can support high-density AI compute without adding new load to the grid or waiting on a new interconnection.
At the center of the program is the Vector ONE™ — Edge’s factory-built, self-contained immersion cooling system designed to house 1 MW of AI compute capacity. Vector ONE units are engineered for deployment in standard commercial and industrial buildings, either indoors or outdoors, arriving pre-integrated, fully commissioned and require no municipal water connection. Installations are modular and scalable: additional units can be commissioned as site power and demand allow, without rebuilding the underlying infrastructure and occupy up to 70% less floor space than air-cooled equivalents.
Built for the Shift to Inference
As inference moves to displace training as the dominant AI workload, the growth opportunity is shifting towards small, distributed data centers that can be deployed quickly and sited where demand originates. Conventional data center developments are under compounding pressure from long utility interconnection queues, sometimes lasting years, pressure around water use, and general community and regulatory opposition enacting restrictions. Community opposition and regulatory friction delayed or blocked an estimated $156 billion in planned U.S. data center capacity in 2025 alone.
EdgeSites is purpose-built for the structural shift to inference and addresses key issues stalling conventional data center developments today. Each Vector ONE unit delivers 1 MW of inference-ready capacity inside an existing building, in a market that already has established electrical infrastructure, in a timeline measured in months rather than years. Multiple units can be used in tandem to deploy up to 10 MW of capacity at a single site. The program converts the distributed inventory of underutilized industrial or commercial electrical capacity in the United States into a nationally scaled inference network. Vector ONE’s dry-cooler loop consumes no municipal water, making EdgeSites viable in markets where evaporative cooling has been restricted or banned.
“The data center industry has been answering an infrastructure shortage with a construction playbook — build new facilities, secure new grid connections, wait years for capacity to come online,” said Robert Schuetzle, CEO of Infinium. “That model cannot keep pace with AI deployment timelines. Infinium EdgeSites operate around different premises: the power already exists, the buildings already exist, and the technology now exists to put them to work. We are making operational what the industry has been treating as stranded.”
Deploying EdgeSites
As demand for AI compute continues to outpace available infrastructure and focuses on distributed inference needs, Infinium Edge is expanding the EdgeSites network with qualified host locations and compute partners.
Commercial and industrial property owners of industrial sites, distribution centers, warehouses, or large commercial properties with available electrical capacity benefit from receiving lease income from infrastructure they already own or control. Infinium Edge manages all aspects of site development and operations for installing and deploying the Vector ONE system. No capital investment or operational responsibility is required from the host.
AI companies, enterprises, and compute operators requiring infrastructure on compressed deployment timelines can access high-density, edge-proximate GPU capacity through a straightforward capacity agreement, priced by the kilowatt-month, with backup power included in the capacity fee. There is no construction to manage, no permitting process to navigate, and no cooling infrastructure to operate or maintain.
Infinium Edge manages the full program from development and installation to operation and monitoring— simplifying development and data center management for AI companies and enterprises.
Reach out to learn more and partner in EdgeSites deployments.
Inquiries: www.infinium.ai/edgesites
About Infinium Edge™
Infinium Edge™ is the advanced AI data center infrastructure platform from Infinium, delivering high-density, sustainable compute through proprietary single-phase immersion cooling technology. Infinium Edge is the only North American producer of Fischer-Tropsch immersion fluids and offers a full-stack platform — including Edge Thermal Vectoring™ platform, Vector ONE™ modular AI Factory units, ETV100 immersion fluids, and integrated monitoring systems — engineered for the thermal and operational demands of AI and high-performance computing at scale. For more information, visit www.infinium.ai.
View original content to download multimedia:https://www.prnewswire.com/news-releases/infinium-edge-launches-edgesites-a-new-infrastructure-model-for-deploying-ai-compute-at-existing-commercial-and-industrial-facilities-302832792.html
SOURCE Infinium
Technology
ChipMOS SCHEDULES SECOND QUARTER 2026 FINANCIAL RESULTS SEMIANNUAL CONFERENCE CALL
Published
34 minutes agoon
July 23, 2026By
HSINCHU, July 23, 2026 /PRNewswire-FirstCall/ — ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (“OSAT”), today announced that it will report second quarter 2026 results and host a semiannual conference call after the close of trading on the Taiwan Stock Exchange on Tuesday, August 11, 2026.
Investors and analysts are encouraged to participate in the semiannual conference call using the dial-in phone number noted below. A webcast and replay will be available on the Company’s website.
Date: Tuesday, August 11, 2026
Time: 3:00PM Taiwan (3:00AM New York)
Dial-In: +886-2-3396 1191
Password: 1637011 #
Semiannual Conference Call Webcast and Replay: https://www.chipmos.com/chinese/ir/info2.aspx
Replay: Starts Approximately 2 hours after the live call ends
Language: Mandarin
Note: A transcript will be provided on the Company’s website in English following the semiannual conference call to help ensure transparency, and to facilitate a better understanding of the Company’s financial results and operating environment.
About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS) (www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS is known for its track record of excellence and history of innovation. The Company provides end-to-end assembly and test services to leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries serving virtually all end markets worldwide.
Forward-Looking Statements:
This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategies, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding current macroeconomic conditions, including the impacts of high inflation, foreign exchange rates and risk of recession, on demand for our products, consumer confidence and financial markets generally; changes in trade regulations, policies, and agreements and the imposition of tariffs that affect our products or operations, including potential new tariffs that may be imposed and our ability to mitigate with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, based on a number of important factors and risks, which are more specifically identified in the Company’s most recent U.S. Securities and Exchange Commission (the “SEC”) filings. Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the SEC and in its other filings with the SEC.
Contacts:
In Taiwan
Jesse Huang
ChipMOS TECHNOLOGIES INC.
+886-6-5052388 ext. 7715
In the U.S.
David Pasquale
Global IR Partners
+1-914-337-8801
View original content:https://www.prnewswire.com/news-releases/chipmos-schedules-second-quarter-2026-financial-results-semiannual-conference-call-302831885.html
SOURCE ChipMOS TECHNOLOGIES INC.
Yiren Digital Accelerates Operating Efficiency Through AI Agent Deployment
Infinium Edge Launches EdgeSites™, a New Infrastructure Model for Deploying AI Compute at Existing Commercial and Industrial Facilities
ChipMOS SCHEDULES SECOND QUARTER 2026 FINANCIAL RESULTS SEMIANNUAL CONFERENCE CALL
Send Rakhi to UK swiftly with UK Gifts Portal
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
New Gooseneck Omni Antennas Offer Enhanced Signals in a Durable Package
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Technology4 days agoEmdoor Launches “Ailyn” AI Hub at WAIC 2026: Unifying Intelligence Across Every Device
-
Technology5 days agoLaifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer
-
Technology5 days agoAI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future
-
Coin Market4 days agoSaylor turns up heat with ‘110 reasons’ why BIP-110 is a bad idea
-
Technology4 days agoPenetron Strengthens Global Research Collaboration at ICSHM 2026
-
Coin Market3 days agoWill the US get CLARITY this week? Bitcoin’s new $80K target: Hodler’s Digest, July 19
-
Technology3 days ago“Every Day CO₂ Challenge”: More Than a Game, A New Way of Learning
-
Technology5 days agoFootball Tournament Season Sparks Global Social Connection Surge as 3Fun Reports Growth Across Key Markets
