Technology
Digital Turbine Reports Fiscal 2025 Second Quarter Financial Results
Published
2 years agoon
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Second Quarter Revenue Totaled $118.7 Million
Second Quarter GAAP Net Loss of $25.0 Million, or GAAP EPS of ($0.24); Second Quarter Non-GAAP Adjusted Net Income1 of $5.0 Million and Non-GAAP Adjusted EPS1 of $0.05
Second Quarter Non-GAAP Adjusted EBITDA2 Totaled $15.3 Million
AUSTIN, Texas, Nov. 6, 2024 /PRNewswire/ — Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal second quarter ended September 30, 2024.
Recent Financial Highlights:
Fiscal second quarter of 2025 revenue totaled $118.7 million, representing an increase of 1% quarter-over-quarter as compared to the fiscal first quarter of 2025, and a decline of 17% year-over-year as compared to the fiscal second quarter of 2024.GAAP net loss for the fiscal second quarter of 2025 was $25.0 million, or ($0.24) per share, as compared to GAAP net loss for the fiscal second quarter of 2024 of $161.5 million, or ($1.61) per share, which included a noncash goodwill impairment charge of $147.2 million. Non-GAAP adjusted net income1 for the fiscal second quarter of 2025 was $5.0 million, or $0.05 per share, as compared to Non-GAAP adjusted net income1 of $13.9 million, or $0.13 per share, in the fiscal second quarter of 2024.Non-GAAP adjusted EBITDA2 for the fiscal second quarter of 2025 was $15.3 million, representing an increase of 6% quarter-over-quarter as compared to the fiscal first quarter of 2025, and a decline of 45% year-over-year as compared to Non-GAAP adjusted EBITDA2 of $27.7 million in the fiscal second quarter of 2024.The Company has initiated a transformation program designed to drive greater efficiency and enhance cash flow generation while accelerating innovation and future growth. The program is underway and is targeted to yield more than $25 million in annual cash expense savings.The Company announced the acquisition of ONE Store International to create a leading comprehensive and competitive alternative app ecosystem beyond the traditional app store model, offering greater value to app developers, consumers and mobile operators.
“The September quarter results marked our second consecutive quarter of sequential growth,” said Bill Stone, CEO. “While we anticipate continued sequential growth in the current December quarter and a return to year-over-year growth in the March quarter, our outlook for the remainder of fiscal 2025 has been reduced as a result of more significant anticipated headwinds in some of our legacy businesses. In order to drive greater efficiencies with current operations and enhance cash flow generation while simultaneously accelerating innovation and maintaining our investment is several promising future growth initiatives, we have enacted a strategic transformation project. We expect this transformation project to yield more than $25 million in annual cost savings and position the Company for greater profit and cash flow leverage when top-line growth rates re-accelerate. We remain steadfastly confident in the future of Digital Turbine, but we also recognize that we must execute with greater expediency and efficiency while attacking the enormous market opportunity in front of us. We have a clear plan to achieve this core objective and maximally capitalize on our advantageous foothold position in the newly evolving mobile app marketplace.”
Fiscal 2025 Second Quarter Financial Results
Total revenue for the second quarter of fiscal 2025 was $118.7 million. Total On Device Solutions revenue before intercompany eliminations was $82.4 million. Total App Growth Platform revenue before intercompany eliminations was $37.3 million.
GAAP net loss for the second quarter of fiscal 2025 was $25.0 million, or ($0.24) per share, as compared to GAAP net loss for the second quarter of fiscal 2024 of $161.5 million, or ($1.61) per share.
Non-GAAP adjusted net income1 for the second quarter of fiscal 2025 was $5.0 million, or $0.05 per share, as compared to Non-GAAP adjusted net income1 of $13.9 million, or $0.13 per share, in the second quarter of fiscal 2024.
Non-GAAP adjusted EBITDA2 for the second quarter of fiscal 2025 was $15.3 million, as compared to Non-GAAP adjusted EBITDA2 for the second quarter of fiscal 2024 of 27.7 million.
Business Outlook
Based on information available as of November 6, 2024, the Company currently expects the following for fiscal year 2025:
Revenue of between $475 million and $485 millionNon-GAAP adjusted EBITDA2 of between $65 million and $70 million
It is not reasonably practicable to provide a business outlook for GAAP net income because the Company cannot reasonably estimate the changes in stock-based compensation expense, which is directly impacted by changes in the Company’s stock price, or other items that are difficult to predict with precision.
About Digital Turbine, Inc.
Digital Turbine empowers superior mobile consumer experiences and results for the world’s leading telcos, advertisers, and publishers. Its end-to-end platform uniquely simplifies its partners’ abilities to supercharge awareness, acquisition, and monetization – connecting them with more consumers, in more ways, across more devices. Digital Turbine is headquartered in North America, with offices around the world. For additional information visit www.digitalturbine.com.
Conference Call
Management will host a conference call and webcast today at 6:00 p.m. ET to discuss its fiscal 2025 second quarter financial results and provide operational updates on the business. The conference call will discuss forward guidance and other material information. The call can be accessed online via the webcast link: https:app.webinar.net/pvYVXg0ZeQo. The call can also be accessed by dialing 888-317-6003 in the United States (or 412-317-6061 from international locations) and entering access code 4716696.
A playback will be available through November 13, 2024. The replay can be accessed by dialing 877-344-7529 in the United States or 412-317-0088 from international locations, passcode 9360917. An online webcast will be archived for a period of one year and is available via the Investor Relations section of Digital Turbine’s website.
Use of Non-GAAP Financial Measures
To supplement the Company’s consolidated financial statements presented in accordance with GAAP, Digital Turbine uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP adjusted net income and earnings per share (“EPS”), non-GAAP adjusted EBITDA, non-GAAP free cash flow and non-GAAP gross profit. Reconciliations to the nearest GAAP measures of all non-GAAP measures included in this press release can be found in the tables below.
Non-GAAP measures are provided to enhance investors’ overall understanding of the Company’s current financial performance, prospects for the future and as a means to evaluate period-to-period comparisons. The Company believes that these non-GAAP measures provide meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results. The Company believes the non-GAAP measures that exclude such items when viewed in conjunction with GAAP results and the accompanying reconciliations enhance the comparability of results against prior periods and allow for greater transparency of financial results. The Company believes non-GAAP measures facilitate management’s internal comparison of its financial performance to that of prior periods as well as trend analysis for budgeting and planning purposes. The presentation of non-GAAP measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
1Non-GAAP adjusted net income and EPS are defined as GAAP net income and EPS adjusted to exclude the effect of stock-based compensation expense, amortization of intangibles, business transformation costs, transaction-related expenses, severance costs, impairment of goodwill, changes in fair value of contingent considerations, and tax adjustments. Readers are cautioned that non-GAAP adjusted net income and EPS should not be construed as an alternative to comparable GAAP net income figures determined in accordance with U.S. GAAP as an indicator of profitability or performance, which is the most comparable measure under GAAP.
2Non-GAAP adjusted EBITDA is calculated as GAAP net income excluding the following cash and non-cash expenses: stock-based compensation expense, depreciation and amortization, net interest income (expense), net other income (expense), business transformation costs, foreign exchange transaction gains (losses), income tax (benefit) provision, transaction-related expenses, impairment of goodwill, changes in fair value of contingent considerations, and severance costs. Non-GAAP adjusted EBITDA margin is calculated as non-GAAP adjusted EBITDA as a percentage of total revenue. Readers are cautioned that non-GAAP adjusted EBITDA should not be construed as an alternative to net income determined in accordance with U.S. GAAP as an indicator of performance, which is the most comparable measure under GAAP.
3Non-GAAP free cash flow, which is a non-GAAP financial measure, is defined as net cash provided by operating activities (as stated in our Consolidated Statements of Cash Flows), excluding transaction-related expenses, severance costs and business transformation costs, reduced by capital expenditures. Readers are cautioned that free cash flow should not be construed as an alternative to net cash provided by operating activities determined in accordance with U.S. GAAP as an indicator of profitability, performance or liquidity, which is the most comparable measure under GAAP.
4Non-GAAP gross profit is defined as GAAP income from operations adjusted to exclude the effect of product development costs, sales and marketing costs, general and administrative costs, impairment of goodwill, and depreciation of software. Readers are cautioned that non-GAAP gross profit should not be construed as an alternative to income from operations determined in accordance with U.S. GAAP as an indicator of profitability or performance, which is the most comparable measure under GAAP.
Non-GAAP adjusted EBITDA, non-GAAP adjusted net income and EPS, non-GAAP free cash flow and non-GAAP gross profit are used by management as internal measures of profitability and performance. They have been included because the Company believes that the measures are used by certain investors to assess the Company’s financial performance before non-cash charges and certain costs that the Company does not believe are reflective of its underlying business.
Forward-Looking Statements
This news release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release that are not statements of historical fact and that concern future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events, including financial projections and growth in various products are forward-looking statements that speak only as of the date made and which involve known and unknown risks, uncertainties and other factors which may, should one or more of these risks uncertainties or other factors materialize, cause actual results to differ materially from those expressed or implied by such statements. These factors and risks include:
Risks Specific to our Business
We have a history of net lossesWe have a limited operating history for our current portfolio of assets.Growth may place significant demands on our management and our infrastructure.Our operations are global in scope, and we face added business, political, regulatory, legal, operational, financial and economic risks as a result of our international operations.Our financial results could vary significantly from quarter-to-quarter and are difficult to predict.A significant portion of our revenue is derived from a limited number of wireless carriers and customers.The risk of impairment of our goodwill.The effects of the current and any future general downturns in the U.S. and the global economy, including financial market disruptions.Our products, services and systems rely on software that is highly technical, and if it contains errors or viruses, our business could be adversely affected.Our business may involve the use, transmission and storage of confidential information and personally identifiable information, and the failure to properly safeguard such information could result in significant reputational harm and monetary damages.Our business and reputation could be impacted by information technology system failures and network disruptionsSystem security risks and cyber-attacks could disrupt our internal operations or information technology services provided to customers.Our business and growth may suffer if we are unable to hire and retain key talent.If we are unable to maintain our corporate culture, our business could be harmed.If we make future acquisitions, this could require significant management attention and disrupt our business.Adverse effects of negative developments affecting the financial services industry, including events or concerns involving liquidity, defaults, or non-performance by financial institutions.Entry into new lines of business, and our offering of new products and services, resulting from our investments may result in exposure to new risks.Litigation may harm out business.
Risks Related to the Mobile Advertising Industry
The mobile advertising business is an intensely competitive industry, and we may not be able to compete successfully.The markets for our products and services are rapidly evolving and may decline or experience limited growth.Our business is dependent on the continued growth in usage of smartphones and other mobile connected devices.Wireless technologies are changing rapidly, and we may not be successful in working with these new technologies.The complexity of and incompatibilities among mobile devices may require us to use additional resources for the development of our products and services.If wireless subscribers do not continue to use their mobile devices to access mobile content and other applications, our business growth and future revenue may be adversely affected.A shift of technology platform by wireless carriers and mobile device manufacturers could lengthen the development period for our offerings, increase our costs, and cause our offerings to be published later than anticipated.Actual or perceived security vulnerabilities in devices or wireless networks could adversely affect our revenue.We may be subject to legal liability associated with providing mobile and online services.Risks of public health issues, such as a major epidemic or pandemic.Risk related to geopolitical conditions and the global economy, including conflicts, financial markets, and inflation.Risk related to the geopolitical relationship between the U.S. and China or changes in China’s economic and regulatory landscape.
Industry Regulatory Risks
We are subject to rapidly changing and increasingly stringent laws, regulations and contractual requirements related to privacy, data security, and protection of children.We are subject to anti-corruption, import/export, government sanction, and similar laws, especially related to our international operations.Government regulation of our marketing methods could restrict or prevent our ability to adequately advertise and promote our content, products and services available in certain jurisdictions.Regulatory requirements pertaining to the marketing, advertising, and promotion of our products and services.Governmental regulation of our marketing methods.
Risks Related to Our Intellectual Property and Potential Liability
Third parties may obtain and improperly use our intellectual property; and if so, our competitive position may be adversely affected, particularly if we do not, or are unable to, adequately protect our intellectual property rightsThird parties may sue us for intellectual property infringement, which may prevent or limit our use of the intellectual property and disrupt our business and could require us to pay significant damage awards.Our platform contains open source software.Indemnity provisions in various agreements potentially expose us to substantial liability for intellectual property infringement, damages caused by malicious software, and other losses.
Risks Relating to Our Common Stock and Capital Structure
We have secured and unsecured indebtedness, which could limit our financial flexibility.To service our debt and fund our other obligations and capital requirements, we will require a significant amount of cash, and our ability to generate cash will depend on many factors beyond our control.The market price of our common stock is likely to be highly volatile and subject to wide fluctuations, and you may be unable to resell your shares at or above the current price or the price at which you purchased your shares.Risk of not being able to raise capital to grow our business.Risk to trading volume of lack of securities or industry analysts research coverage.A material weakness in our internal control over financial reporting and disclosure controls and procedures could, if not remediated, result in material misstatements in our financial statements.Maintaining and improvising financial controls and being a public company may strain resources.Anti-takeover provisions in our charter documents could make an acquisition of our company more difficult.Our bylaws designate Delaware as the exclusive forum for certain disputes.Other risks described in the risk factors in Item 1A of our latest Annual Report on Form 10-K under the heading “Risk Factors” and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.
You should not place undue reliance on these forward-looking statements. The Company does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Investor Relations Contact:
Brian Bartholomew
Digital Turbine, Inc.
brian.bartholomew@digitalturbine.com
Digital Turbine, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income
(Unaudited)
(in thousands, except share and per share amounts)
Three months ended September 30,
Six months ended September 30,
2024
2023
2024
2023
Net revenue
$ 118,728
$ 143,259
$ 236,717
$ 289,625
Costs of revenue and operating expenses
Revenue share
56,336
68,719
112,145
138,311
Other direct costs of revenue
8,438
9,017
16,228
18,630
Product development
9,433
14,037
20,147
29,837
Sales and marketing
15,887
15,537
32,134
31,114
General and administrative
42,176
41,385
85,693
81,884
Impairment of goodwill
—
147,181
—
147,181
Total costs of revenue and operating expenses
132,270
295,876
266,347
446,957
Loss from operations
(13,542)
(152,617)
(29,630)
(157,332)
Interest and other income (expense), net
Change in fair value of contingent consideration
200
372
200
372
Interest expense, net
(9,232)
(7,844)
(17,482)
(15,234)
Foreign exchange transaction loss
(976)
(2,106)
(158)
(183)
Other income (expense), net
(36)
—
78
244
Total interest and other expense, net
(10,044)
(9,578)
(17,362)
(14,801)
Loss before income taxes
(23,586)
(162,195)
(46,992)
(172,133)
Income tax provision (benefit)
1,400
(713)
3,150
(2,252)
Net loss
(24,986)
(161,482)
(50,142)
(169,881)
Less: net loss attributable to non-controlling interest
—
—
—
(220)
Net loss attributable to Digital Turbine, Inc.
(24,986)
(161,482)
(50,142)
(169,661)
Other comprehensive income (loss)
Foreign currency translation adjustment
2,157
(1,287)
944
(7,394)
Comprehensive loss
(22,829)
(162,769)
(49,198)
(177,275)
Less: comprehensive income attributable to non-controlling interest
—
—
—
519
Comprehensive loss attributable to Digital Turbine, Inc.
$ (22,829)
$ (162,769)
$ (49,198)
$ (177,794)
Net loss per common share
Basic
$ (0.24)
$ (1.61)
$ (0.49)
$ (1.69)
Diluted
$ (0.24)
$ (1.61)
$ (0.49)
$ (1.69)
Weighted-average common shares outstanding
Basic
103,041
100,604
102,722
100,272
Diluted
103,041
100,604
102,722
100,272
Digital Turbine, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands, except par value and share amounts)
September 30, 2024
March 31, 2024
(Unaudited)
ASSETS
Current assets
Cash and cash equivalents
$ 32,765
$ 33,605
Accounts receivable, net
191,612
191,015
Prepaid expenses
7,093
7,704
Other current assets
12,419
10,017
Total current assets
243,889
242,341
Property and equipment, net
48,159
45,782
Right-of-use assets
11,222
9,127
Intangible assets, net
285,848
313,505
Goodwill
221,059
220,072
Other non-current assets
34,309
34,713
TOTAL ASSETS
$ 844,486
$ 865,540
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable
$ 148,062
$ 159,200
Accrued revenue share
29,518
33,934
Accrued compensation
7,408
7,209
Other current liabilities
38,643
35,681
Total current liabilities
223,631
236,024
Long-term debt, net of debt issuance costs
407,620
383,490
Deferred tax liabilities, net
17,460
20,424
Other non-current liabilities
13,405
11,670
Total liabilities
662,116
651,608
Commitments and contingencies
Stockholders’ equity
Preferred stock
Series A convertible preferred stock at $0.0001 par value; 2,000,000 shares authorized, 100,000 issued and outstanding (liquidation preference of $1)
100
100
Common stock
$0.0001 par value: 200,000,000 shares authorized; 104,279,577 issued and 103,521,452 outstanding at September 30, 2024; 102,877,057 issued and 102,118,932 outstanding at March 31, 2024
10
10
Additional paid-in capital
875,827
858,191
Treasury stock (758,125 shares at September 30, 2024 and March 31, 2024)
(71)
(71)
Accumulated other comprehensive loss
(48,011)
(48,955)
Accumulated deficit
(645,485)
(595,343)
Total stockholders’ equity
182,370
213,932
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$ 844,486
$ 865,540
Digital Turbine, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(in thousands)
Three months ended September 30,
2024
2023
Cash flows from operating activities:
Net (loss) income
$ (24,986)
$ (161,482)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization
19,352
20,668
Non-cash interest expense
456
(147)
Allowance for credit losses
1,084
475
Stock-based compensation expense
8,999
9,016
Change in estimate of remaining contingent consideration
(200)
(372)
Right-of-use asset
(2,304)
1,173
Foreign exchange transaction loss
976
2,106
Impairment of goodwill
—
147,181
(Increase) decrease in assets:
Accounts receivable, gross
3,183
8,102
Prepaid expenses
(161)
(334)
Other current assets
(451)
—
Other non-current assets
(96)
(2,566)
Increase (decrease) in liabilities:
Accounts payable
(20,435)
1,663
Accrued revenue share
3,025
5,350
Accrued compensation
434
(1,906)
Other current liabilities
2,079
11,808
Deferred income taxes
(1,035)
(12,351)
Other non-current liabilities
1,361
(930)
Net cash provided by (used in) operating activities
(8,719)
27,454
Cash flows from investing activities
Capital expenditures
(7,477)
(7,001)
Net cash used in investing activities
(7,477)
(7,001)
Cash flows from financing activities
Proceeds from borrowings
21,000
12,000
Payment of debt issuance costs
(1,561)
—
Repayment of debt obligations
(6,000)
(34,136)
Acquisition of non-controlling interest in consolidated subsidiaries
—
—
Payment of withholding taxes for net share settlement of equity awards
(112)
(106)
Options exercised
79
1,998
Net cash provided by (used in) financing activities
13,406
(20,244)
Effect of exchange rate changes on cash and cash equivalents and restricted cash
(174)
(629)
Net change in cash and cash equivalents and restricted cash
(2,964)
(420)
Cash and cash equivalents and restricted cash, beginning of period
35,729
59,069
Cash and cash equivalents and restricted cash, end of period
$ 32,765
$ 58,649
REVENUE BY SEGMENT
(in thousands)
(Unaudited)
Three months ended September 30,
2024
2023
% Change
On Device Solutions
$ 82,414
$ 99,060
(17) %
App Growth Platform
37,346
46,183
(19) %
Elimination
(1,032)
(1,984)
(48) %
Consolidated
$ 118,728
$ 143,259
(17) %
GAAP (LOSS) INCOME FROM OPERATIONS TO NON-GAAP GROSS PROFIT
(in thousands)
(Unaudited)
Three months ended September 30,
2024
2023
Net revenue
$ 118,728
$ 143,259
(Loss) income from operations
(13,542)
(152,617)
Add-back items:
Product development
9,433
14,037
Sales and marketing
15,887
15,537
General and administrative
42,176
41,385
Depreciation of software included in other direct costs of revenue
51
1,509
Impairment of goodwill
—
147,181
Non-GAAP gross profit
$ 54,005
$ 67,032
Non-GAAP gross profit percentage
45 %
47 %
GAAP NET (LOSS) INCOME TO NON-GAAP ADJUSTED NET INCOME
(in thousands)
(Unaudited)
Three months ended September 30,
2024
2023
Net (loss) income
$ (24,986)
(161,482)
Add-back items:
Stock-based compensation expense
8,999
9,016
Amortization of intangibles
13,505
16,157
Change in fair value of contingent consideration
(200)
(372)
Tax adjustment (1)
7,200
—
Business transformation costs
237
2,528
Transaction-related expenses
—
79
Severance costs
268
809
Impairment of goodwill
—
147,181
Non-GAAP adjusted net income
$ 5,023
$ 13,916
Non-GAAP adjusted net income per common share
$ 0.05
$ 0.13
Weighted-average common shares outstanding, diluted
105,345
103,428
(1) Valuation allowance
GAAP NET (LOSS) INCOME TO NON-GAAP ADJUSTED EBITDA
(in thousands)
(Unaudited)
Three months ended September 30,
2024
2023
Net (loss) income
$ (24,986)
$ (161,482)
Add-back items:
Stock-based compensation expense
8,999
9,016
Depreciation and amortization
19,352
20,668
Interest expense, net
9,232
7,844
Other income (expense), net
36
—
Change in fair value of contingent consideration
(200)
(372)
Business transformation costs
237
2,528
Foreign exchange transaction (gain) loss
976
2,106
Income tax provision (benefit)
1,400
(713)
Transaction-related expenses
—
79
Severance costs
268
809
Impairment of goodwill
—
147,181
Non-GAAP adjusted EBITDA
$ 15,314
$ 27,664
GAAP CASH FLOW FROM OPERATING ACTIVITIES TO NON-GAAP FREE CASH FLOW
(in thousands)
(Unaudited)
Three months ended September 30,
2024
2023
Net cash provided by (used in) operating activities
$ (8,719)
$ 27,454
Capital expenditures
(7,477)
(7,001)
Transaction-related expenses
—
79
Severance costs
268
809
Business transformation costs
237
2,528
Non-GAAP free cash flow provided (used) by operations
$ (15,691)
$ 23,869
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SOURCE Digital Turbine, Inc.
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By aligning financial reporting with regulatory standards, the platform helps organisations maintain accurate records while reducing the administrative burden associated with tax and compliance requirements.
Operational Impact and Long-Term Financial Structure
As businesses grow, financial systems often become central to overall operational structure. Decisions related to hiring, investment, and expansion rely on access to accurate and timely financial data. Systems that lack integration or real-time visibility can slow decision-making and introduce inefficiencies.
QuickBooks supports a more structured approach by centralising financial information. This reduces fragmentation and helps ensure consistency across the organisation. It also supports continuity, minimising the need for frequent system changes as businesses scale.
The platform is designed to adapt to increasing complexity over time. As transaction volumes grow and reporting requirements expand, it remains stable while accommodating additional users and workflows.
This approach aligns with the needs of medium-sized businesses transitioning from smaller-scale operations to more advanced financial environments.
Market Context and Financial Management Trends
The recognition of QuickBooks reflects broader developments in financial technology adoption among UK medium-sized businesses. Organisations are increasingly prioritising systems that improve efficiency while reducing operational complexity.
Financial management is no longer limited to recordkeeping. It has become a core business function that influences strategic planning and overall performance. As a result, platforms that provide integrated financial oversight are becoming more relevant across a wide range of industries.
QuickBooks fits within this shift by offering a system that combines core accounting functionality with workflow automation and reporting capabilities. This supports businesses that require both day-to-day financial management and longer-term planning tools.
The emphasis on scalability also reflects changing expectations in the mid-market sector. Businesses are seeking platforms that can grow with them, rather than systems that need to be replaced as operational requirements evolve.
Conclusion
Consumer365 has recognised QuickBooks as a relevant financial platform for medium-sized businesses operating in the UK in 2026. The recognition highlights its focus on scalability, financial visibility, and structured operational control.
The platform is positioned to support organisations as they move beyond basic accounting systems and adopt more integrated financial management structures. Its emphasis on automation, compliance support, and system connectivity aligns with the operational needs of growing businesses.
As financial complexity continues to increase across the mid-market sector, tools that centralise financial data and support real-time decision-making are becoming more widely adopted. QuickBooks represents one of the platforms contributing to this shift towards more structured financial management approaches.
To read the full review, please visit the Consumer365 website.
About Intuit
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.
About Consumer365.org: Consumer365 provides consumer news and industry insights. As an affiliate, Consumer365 may earn commissions from sales generated using links provided.
Disclaimer
Where AI content is used: This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, functionality are subject to change without notice.
General content disclaimer: This information is provided free of charge and is intended to be helpful to a wide range of businesses. Because of its general nature the information cannot be taken as comprehensive and they do not constitute and should never be used as a substitute for legal, accounting, tax or professional advice. Intuit cannot guarantee that the information applies to the individual circumstances of your business. Despite our best efforts it is possible that some information may be out of date.
Any reliance you place on information found on this site or linked to on other websites will be at your own risk. You should consider seeking the advice of independent advisers and should always check your decisions against your normal business methods and best practice in your field of business.
SOURCE Consumer365.org
Technology
BOE continues to launch new products and solutions in the field of high-end displays
Published
3 hours agoon
May 9, 2026By
LOS ANGELES, May 9, 2026 /PRNewswire/ —
1、Redefine Visual Experience with Scientific Standards! BOE Releases Core Research Findings on OLED Display Clarity-Legibility Index, Paving the Way for the Industry’s First Transparent Pro Standard to Deliver Supreme Visual Experience
With the rapid popularization of OLED display technology, basic screen indicators including resolution, color gamut and brightness keep improving. Meanwhile, display transparency — a core experience metric that determines visual comfort , image authenticity and premium visual quality — has drawn growing attention across the industry.
Recently, BOE has empowered the launch of the industry’s first flagship high-transparency OLED display panel, setting an industry-leading benchmark in four key dimensions: color, depth , clarity and dynamic range. It ushers high-end display into a new era, shifting from purely numerical technical specifications to ultimate user-centric visual experience.
In addition, BOE officially unveiled its in-depth research achievements on OLED display transparency. It has identified the core underlying factors affecting visual transparency through scientific research, pioneered the industry’s first display transparency index formula, and facilitated the release of the first authoritative evaluation standard for OLED display transparency. This marks an industry’s transformation from specs-oriented to experience-driven development. This marks a full-process breakthrough covering underlying technical analysis, scientifically guided image quality development and mass production application.
At present, the group standard 《Standard of Associations Organic light emitting diode display —Evaluation method for display clarity》, led and formulated by BOE based on relevant research outcomes, has been officially issued. As the world’s first dedicated evaluation standard focusing on OLED display transparency, it fills the long-standing industry gap in correlating subjective visual perception with objective image quality parameters.
Leveraging this standard and transparency research results, BOE has assisted partners in developing the industry’s first flagship high-transparency OLED screen. The company has built a comprehensive technical system for OLED visual transparency. Supported by cutting-edge technologies such as tandem, LTPO and high-precision Demura crosstalk optimization algorithms, BOE and its partners have carried out full-link optimization from display panels to end devices.
Going forward, BOE will continue to deepen research on display human factors engineering and visual experience. Through technological innovation and standard leadership, it will bring more ultimate, high-transparency premium display experiences to users worldwide.
2、BOE Beneficial “Natural” Light Technology (BNL): Solving Visual Health Pain Points and Leading the Display Industry Trend
In an era of ubiquitous displays, users are spending increasingly longer hours on screens. Nevertheless, the luminous properties of conventional displays poorly align with the human visual system, sparking widespread consumer concerns over visual health. To address such challenges, BOE draws inspiration from natural light. By deeply analyzing natural light and extracting beneficial features highly consistent with health and comfort, BOE established the Beneficial “Natural” Light Technology (BNL) architecture. Evolving from single technical upgrades to a systematic solution, BNL replicates the merits of natural light across four core dimensions: Depolarization Adjustment, Spectrum Optimization, Light Profile Optimization and Time-varying Adaptation, advancing display technology toward healthy viewing.
BNL & Visual Health
Depolarization Adjustment: The linearly polarized light of traditional displays causes targeted stimulation to retinal lutein, resulting in dry eyes, eyelid redness and other discomforts. Based on the mainstream Circular Polarization (QWP) solution, BOE BNL has developed a series of technologies like BSF/RDF Random Depolarization technology and un-Polarization,which convert linearly polarized light into randomly polarized light, enabling balanced lutein utilization across the entire visual field, and deliver natural-light-level eye protection.
Spectrum Optimization: Conventional narrow-band RGB spectra feature poor continuity and imbalanced energy distribution, with excessive high-energy blue light that induces eye strain and increases risks of macular damage. Beyond Low Blue Light solutions, BOE BNL has developed Natural-like Spectrum, Beneficial Red Light, Infrared Light and Circadian Rhythm technologies. Multiple clinical studies have verified that Beneficial Red Light and Infrared Light can effectively inhibit axial elongation and accelerate eye microcirculation. BOE takes the lead in integrating such optics into displays,achieving a spectral distribution matching degree of over 60%, an energy ratio of Beneficial Red Light (650–670 nm) exceeding 50%, and independent on/off switching and energy adjustment of Infrared Light. Meanwhile, Circadian Rhythm technology regulates melatonin secretion to safeguard sleep quality. Shifting from passive harm reduction to active eye benefits, BOE BNL delivers all-round visual health protection.
Light Profile Optimization: Conventional screens are prone to surface reflection and glare, which interfere with visual recognition and cause cumulative eye fatigue. Powered by industry-leading Anti-Glare, Low Reflection and Wide Viewing Angle technologies, BOE BNL accurately simulates the diffuse reflection of natural light to deliver consistent visual comfort across diverse viewing angles. For instance, BOE UB Cell technology achieves a DGR value below 5 with negligible glare and reflection, ensuring sustained visual comfort.
Time-varying Adaptation: Conventional displays tend to produce low-frequency flicker and fixed brightness and color temperature that fail to adapt to ambient changes, forcing frequent eye muscle adjustments and leading to discomfort. By adopting Flicker Free and Light Self-adaptive technologies, BOE BNL delivers stable, ultra-smooth visuals that replicate the comfort of natural light.
SID 2026: BOE Launches New BNL Display Products
At SID Display Week 2026, BOE launched new BNL health display products. The highlight product is the industry’s first 13.8-inch BNL health display tablet. It integrates all four core dimensions,supported by 7 core BNL technologies, to deliver a healthy and comfortable visual experience.
As a global leader in the display industry, BOE has led the development and officially issued the world’s first “Natural Light” display standard via the Zhongguancun Standardization Association,and has jointly issued the White Paper on Natural Light Display Technologies (Engineering Considerations, Application Value and Challenges) with TÜV Rheinland to drive standardized and high-quality industrial development. In the future, BOE will continue to iterate on technologies, diversify product forms and application scenarios, advance the grading standards for Beneficial “Natural” Light displays, and protect users’ visual health.
View original content to download multimedia:https://www.prnewswire.com/news-releases/boe-continues-to-launch-new-products-and-solutions-in-the-field-of-high-end-displays-302767491.html
SOURCE BOE Technology Group Co., Ltd.
Technology
BitradeX BXC First Two Subscription Rounds Sell Out, Total Subscriptions Exceed 14M USDT
Published
6 hours agoon
May 9, 2026By
LONDON, May 9, 2026 /PRNewswire/ — BitradeX Capital’s ecosystem equity token, BXC, has completed its first and second subscription rounds, selling a total of 50 million BXC with subscriptions exceeding 14 million USDT. The first round sold out in 90 seconds, while the second closed within 48 hours.
While the fundraising size is not unusually large by crypto standards, the structure of the sale has attracted market attention. The first two rounds were not open to the public, but limited to high-tier BitradeX users. The first round was available only to V5 users and above, while the second round expanded access to V3 users and above.
According to BitradeX’s tier system, V3+ users typically have higher recurring investment activity through AiBot, longer platform usage history, and stronger ecosystem participation. This means the early BXC allocation was absorbed mainly by the platform’s internal high-value user base, rather than short-term speculative participants.
This approach differs from many token fundraising campaigns that prioritize broad public participation and market hype. BitradeX instead adopted a more selective, staged model, gradually lowering the participation threshold while keeping the sale within its active ecosystem community.
BXC is positioned as more than a standard platform token. Its value framework is linked to BitradeX Capital’s broader ecosystem, including its exchange business, AiBot quantitative strategies, BTX Card payments, and Labs incubation platform. Public information indicates that BXC holders may receive staking rewards, benefit from ecosystem buybacks and burns, and gain priority access to Launchpad projects and governance participation.
The third subscription round is launched on April 30 at $0.35 USDT per BXC, with a total supply of 100 million BXC. It is now open to users participating in AiBot recurring investment. The fourth round price is expected to rise to $0.45 USDT.
The long-term value of BXC will ultimately depend on the growth of BitradeX’s underlying businesses, including exchange profitability, AiBot user expansion, and BTX Card adoption. However, the rapid sellout of the first two rounds suggests that BitradeX’s core user base has already shown strong confidence in the ecosystem’s future.
View original content:https://www.prnewswire.com/news-releases/bitradex-bxc-first-two-subscription-rounds-sell-out-total-subscriptions-exceed-14m-usdt-302767467.html
SOURCE BitradeX Capital
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