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ATRenew Inc. Reports Unaudited Third Quarter 2024 Financial Results

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SHANGHAI, Nov. 20, 2024 /PRNewswire/ — ATRenew Inc. (“ATRenew” or the “Company”) (NYSE: RERE), a leading technology-driven pre-owned consumer electronics transactions and services platform in China, today announced its unaudited financial results for the three months ended September 30, 2024. 

Third Quarter 2024 Highlights

Total net revenues grew by 24.4% to RMB4,051.2 million (US$577.3 million) from RMB3,256.8 million in the third quarter of 2023.Income from operations was RMB24.9 million (US$3.5 million), compared to a loss from operations of RMB28.1 million in the third quarter of 2023. Adjusted income from operations (non-GAAP)[1] was RMB104.0 million (US$14.8 million), compared to RMB73.8 million in the third quarter of 2023.Number of consumer products transacted[2] was 9.1 million compared to 8.2 million in the third quarter of 2023.

Mr. Kerry Xuefeng Chen, Founder, Chairman, and Chief Executive Officer of ATRenew, commented, “We are delighted to report that our total net revenues reached RMB4.05 billion in the third quarter of 2024, representing a robust year-over-year growth of 24.4%. We are particularly encouraged by the widespread adoption of our consumer electronics trade-in services, which provide consumers with a seamless experience and competitive pricing. Our AHS stores maintain their industry-leading position, serving as the preferred destination for users to recycle reusable consumer products and purchase quality-assured, value-for-money pre-owned electronic devices.”

Mr. Rex Chen, Chief Financial Officer of ATRenew, added, “The third quarter marked another milestone in our path to enhanced profitability, as we achieved positive GAAP income from operations and our non-GAAP income from operations exceeded RMB100 million for the first time. These results reflect our successful initiatives to optimize operating expenses and the diminishing impact of amortization expenses from historical acquisitions. We also demonstrated our commitment to shareholder returns by repurchasing over US$12 million of our shares during the quarter. Looking ahead, we remain focused on driving operational efficiency and delivering sustainable value to our users and shareholders.”

[1]. See “Reconciliations of GAAP and Non-GAAP Results” for more information.

[2]. “Number of consumer products transacted” represents the number of consumer products distributed to merchants and consumers through transactions on the Company’s PJT Marketplace, Paipai Marketplace and other channels the Company operates in a given period, prior to returns and cancellations, excluding the number of consumer products collected through AHS Recycle; a single consumer product may be counted more than once according to the number of times it is transacted on PJT Marketplace, Paipai Marketplace and other channels the Company operates through the distribution process to end consumer.

Third Quarter 2024 Financial Results

REVENUE

Total net revenues increased by 24.4% to RMB4,051.2 million (US$577.3 million) from RMB3,256.8 million in the same period of 2023.

Net product revenues increased by 25.6% to RMB3,672.2 million (US$523.3 million) from RMB2,924.0 million in the same period of 2023. The increase was primarily attributable to an increase in the sales of pre-owned consumer electronics both through the Company’s online and offline channels.Net service revenues increased by 13.9% to RMB379.0 million (US$54.0 million), compared to RMB332.8 million in the same period of 2023. This increase was primarily due to an increase in the service revenue generated from PJT Marketplace and multi-category recycling business.

OPERATING COSTS AND EXPENSES

Operating costs and expenses were RMB4,028.1 million (US$574.0 million), compared to RMB3,307.5 million in the same period of 2023, representing an increase of 21.8%.

Merchandise costs were RMB3,242.8 million (US$462.1 million), compared to RMB2,611.0 million in the same period of 2023, representing an increase of 24.2%. This was primarily due to the growth in product sales.Fulfillment expenses were RMB347.3 million (US$49.5 million), compared to RMB287.7 million in the same period of 2023, representing an increase of 20.7%. The increase was primarily due to (i) an increase in personnel costs and logistics expenses as the Company conducted more recycling and transaction activities compared with the same period of 2023, and (ii) an increase in operation center related expenses as the Company expanded its store networks in the third quarter of 2024.Selling and marketing expenses were RMB315.3 million (US$44.9 million), compared to RMB299.5 million in the same period of 2023, representing an increase of 5.3%. The increase was primarily due to  (i) an increase in advertising expenses and promotional campaign related expenses, and (ii) an increase in share-based compensation expenses. The increase was partially offset by a decrease in amortization of intangible assets and deferred cost resulting from assets and business acquisitions as the maturity of some intangible assets and deferred cost in the third quarter of 2023.General and administrative expenses were RMB69.3 million (US$9.9 million), compared to RMB69.8 million in the same period of 2023, representing a decrease of 0.7%, primarily due to a decrease in share-based compensation expenses. The decrease was partially offset by an increase in other personnel cost.Technology and content expenses were RMB53.4 million (US$7.6 million), compared to RMB39.4 million in the same period of 2023, representing an increase of 35.5%. The increase was primarily due to an increase in personnel costs in connection with the ongoing maintenance of the Company’s operation centers and system.

INCOME (LOSS) FROM OPERATIONS

Income from operations was RMB24.9 million (US$3.5 million), compared to a loss from operations of RMB28.1 million in the same period of 2023.

Adjusted income from operations (non-GAAP) was RMB104.0 million (US$14.8 million), compared to RMB73.8 million in the same period of 2023.

NET INCOME (LOSS)

Net income was RMB17.9 million (US$2.6 million), compared to a net loss of RMB44.2 million in the same period of 2023.

Adjusted net income (non-GAAP) was RMB90.1 million (US$12.8 million), compared to RMB47.6 million in the same period of 2023.

BASIC AND DILUTED NET INCOME PER ORDINARY SHARE

Basic and diluted net income per ordinary share were RMB0.11 (US$0.02), compared to basic and diluted net loss of RMB0.27 in the same period of 2023.

Adjusted basic and diluted net income per ordinary share (non-GAAP) were RMB0.56 (US$0.08) and RMB0.55 (US$0.08), compared to RMB0.30 and RMB0.29 in the same period of 2023.

CASH AND CASH EQUIVALENTS, RESTRICTED CASH, SHORT-TERM INVESTMENTS AND FUNDS RECEIVABLE FROM THIRD PARTY PAYMENT SERVICE PROVIDERS

Cash and cash equivalents, restricted cash, short-term investments and funds receivable from third party payment service providers were RMB2,350.5 million (US$334.9 million) as of September 30, 2024, as compared to RMB2,854.4 million as of December 31, 2023.

Business Outlook

For the fourth quarter of 2024, the Company currently expects its total revenues to be between RMB4,740.0 million and RMB4,840.0 million, representing an increase of 22.4% to 24.9% year-over-year. This forecast only reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change.

Recent Development

On August 29, 2024, ATRenew announced an improvement in its Environmental, Social and Governance (ESG) score as assessed by S&P Global’s Corporate Sustainability Assessment in 2024, placing it in the 93rd percentile among its global RTS retailing industry peers. This is primarily attributable to ATRenew’s commitment to ESG, particularly greater transparency in its climate strategy, human capital management, and business ethics.

During the third quarter of 2024, ATRenew repurchased a total of approximately 4.9 million ADSs for approximately US$12.1 million under its current share repurchase program which authorizes the Company to repurchase up to US$50 million worth of its shares (including ADSs) through June 27, 2025. As of September 30, 2024, the Company had repurchased a total of approximately 8.2 million ADSs for approximately US$20.1 million under this share repurchase program.

Conference Call Information

The Company’s management will hold a conference call on Wednesday, November 20, 2024 at 07:00 A.M. Eastern Time (or 08:00 P.M. Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

4001-206115

Hong Kong Toll Free:

800-963976

Access Code:

3668505

The replay will be accessible through November 27, 2024 by dialing the following numbers:

International:

1-412-317-0088

United States Toll Free:

1-877-344-7529

Access Code:                    

3972162

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at ir.atrenew.com.

About ATRenew Inc.

Headquartered in Shanghai, ATRenew Inc. operates a leading technology-driven pre-owned consumer electronics transactions and services platform in China under the brand ATRenew. Since its inception in 2011, ATRenew has been on a mission to give a second life to all idle goods, addressing the environmental impact of pre-owned consumer electronics by facilitating recycling and trade-in services, and distributing the devices to prolong their lifecycle. ATRenew’s open platform integrates C2B, B2B, and B2C capabilities to empower its online and offline services. Through its end-to-end coverage of the entire value chain and its proprietary inspection, grading, and pricing technologies, ATRenew sets the standard for China’s pre-owned consumer electronics industry. ATRenew is a participant in the United Nations Global Compact, and adheres to its principles-based approach to responsible business.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0176 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2024.

Use of Non-GAAP Financial Measures

The Company also uses certain non-GAAP financial measures in evaluating its business. For example, the Company uses adjusted income from operations, adjusted net income and adjusted net income per ordinary share as supplemental measures to review and assess its financial and operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. Adjusted income from operations is loss from operations excluding the share-based compensation expenses and amortization of intangible assets and deferred cost resulting from assets and business acquisitions. Adjusted net income is net loss excluding the share-based compensation expenses and amortization of intangible assets and deferred cost resulting from assets and business acquisitions and tax effects of amortization of intangible assets and deferred cost resulting from assets and business acquisitions. Adjusted net income per ordinary share is adjusted net income attributable to ordinary shareholders divided by weighted average number of shares used in calculating net loss per ordinary share.

The Company presents non-GAAP financial measures because they are used by the Company’s management to evaluate the Company’s financial and operating performance and formulate business plans. The Company believes that adjusted income from operations and adjusted net income help identify underlying trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that are included in loss from operations and net loss. The Company also believes that the use of non-GAAP financial measures facilitates investors’ assessment of the Company’s operating performance. The Company believes that adjusted income from operations and adjusted net income provide useful information about the Company’s operating results, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP financial measures is that they do not reflect all items of income and expense that affect the Company’s operations. The share-based compensation expenses, amortization of intangible assets and deferred cost resulting from assets and business acquisitions and tax effects of amortization of intangible assets and deferred cost resulting from assets and business acquisitions have been and may continue to be incurred in the Company’s business and is not reflected in the presentation of non-GAAP financial measures. Further, the non-GAAP measures may differ from the non-GAAP measures used by other companies, including peer companies, potentially limiting the comparability of their financial results to the Company’s. In light of the foregoing limitations, the non-GAAP financial measures for the period should not be considered in isolation from or as an alternative to income from operations, net income, and net income attributable to ordinary shareholders per share, or other financial measures prepared in accordance with U.S. GAAP.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company’s performance. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, “Reconciliations of GAAP and Non-GAAP Results.”

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to 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 “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, quotations in this announcement, contain forward-looking statements. ATRenew may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about ATRenew’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: ATRenew’s strategies; ATRenew’s future business development, financial condition and results of operations; ATRenew’s ability to maintain its relationship with major strategic investors; its ability to facilitate pre-owned consumer electronics transactions and provide relevant services; its ability to maintain and enhance the recognition and reputation of its brand; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in ATRenew’s filings with the SEC. All information provided in this press release is as of the date of this press release, and ATRenew does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

In China:
ATRenew Inc.
Investor Relations
Email: ir@atrenew.com 

In the United States:
ICR LLC.
Email: atrenew@icrinc.com
Tel: +1-212-537-0461

 

 

ATRENEW INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except share and per share and otherwise noted)

As of December 31,

As of September 30,

2023

2024

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

1,978,696

1,347,338

191,994

Restricted cash

210,000

132,000

18,810

Short-term investments

410,547

630,123

89,792

Amount due from related parties, net

89,592

218,771

31,175

Inventories

1,017,155

678,026

96,618

Funds receivable from third party payment service
providers

253,107

241,047

34,349

Prepayments and other receivables, net

567,622

754,617

107,532

Total current assets

4,526,719

4,001,922

570,270

Non-current assets:

Long-term investments

467,095

558,221

79,546

Property and equipment, net

148,223

159,236

22,691

Intangible assets, net

270,631

100,496

14,321

Other non-current assets

80,411

149,115

21,249

Total non-current assets

966,360

967,068

137,807

TOTAL ASSETS

5,493,079

4,968,990

708,077

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Short-term borrowings

349,931

307,291

43,789

Accounts payable

532,293

105,314

15,007

Contract liabilities

119,715

81,571

11,624

Accrued expenses and other current liabilities

465,123

478,145

68,135

Accrued payroll and welfare

146,371

148,945

21,224

Amount due to related parties

78,032

116,255

16,566

Total current liabilities

1,691,465

1,237,521

176,345

Non-current liabilities:

Operating lease liabilities, non-current

22,495

80,366

11,452

Deferred tax liabilities

67,658

42,099

5,999

Total non-current liabilities

90,153

122,465

17,451

TOTAL LIABILITIES

1,781,618

1,359,986

193,796

TOTAL SHAREHOLDERS’ EQUITY

3,711,461

3,609,004

514,281

TOTAL LIABILITIES AND SHAREHOLDERS’
EQUITY

5,493,079

4,968,990

708,077

 

ATRENEW INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME (LOSS)

(Amounts in thousands, except share and per share and otherwise noted)

Three months ended September 30,

Nine months ended September 30,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

Net revenues

Net product revenues

2,923,970

3,672,239

523,290

8,135,824

10,383,813

1,479,682

Net service revenues

332,787

378,999

54,007

956,386

1,095,264

156,074

Operating (expenses) income (1)(2)

Merchandise costs

(2,611,018)

(3,242,843)

(462,101)

(7,188,902)

(9,181,300)

(1,308,325)

Fulfillment expenses

(287,704)

(347,270)

(49,486)

(822,913)

(985,325)

(140,408)

Selling and marketing expenses

(299,491)

(315,293)

(44,929)

(933,835)

(990,607)

(141,160)

General and administrative expenses

(69,826)

(69,302)

(9,875)

(203,794)

(215,671)

(30,733)

Technology and content expenses

(39,430)

(53,396)

(7,609)

(131,905)

(153,391)

(21,858)

Other operating income, net

22,640

1,751

250

32,512

23,082

3,289

Income (loss) from operations

(28,072)

24,885

3,547

(156,627)

(24,135)

(3,439)

Interest expense

(2,186)

(3,615)

(515)

(5,498)

(12,332)

(1,757)

Interest income

11,083

8,686

1,238

24,658

20,611

2,937

Other (loss) income, net

(4,428)

47

7

(6,719)

(41,305)

(5,886)

Income (loss) before income taxes and share
of loss in equity method investments

(23,603)

30,003

4,277

(144,186)

(57,161)

(8,145)

Income tax benefits

10,047

5,949

848

33,607

24,536

3,496

Share of loss in equity method investments

(30,632)

(18,069)

(2,575)

(48,449)

(53,028)

(7,556)

Net income (loss)

(44,188)

17,883

2,550

(159,028)

(85,653)

(12,205)

Net income (loss) per ordinary share:

Basic

(0.27)

0.11

0.02

(0.99)

(0.53)

(0.08)

Diluted

(0.27)

0.11

0.02

(0.99)

(0.53)

(0.08)

Weighted average number of shares used in
calculating net income (loss) per ordinary
share

Basic

161,338,983

161,405,774

161,405,774

161,393,190

162,011,110

162,011,110

Diluted

161,338,983

164,258,720

164,258,720

161,393,190

162,011,110

162,011,110

Net income (loss)

(44,188)

17,883

2,550

(159,028)

(85,653)

(12,205)

Foreign currency translation adjustments

(5,676)

(7,093)

(1,011)

15,897

(7,183)

(1,024)

Total comprehensive income (loss)

(49,864)

10,790

1,539

(143,131)

(92,836)

(13,229)

 

ATRENEW INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME (LOSS) (CONTINUED)

(Amounts in thousands, except share and per share and otherwise noted)

Three months ended September 30,

Nine months ended September 30,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

(1) Includes share-based compensation
expenses as follows:

Fulfillment expenses

(5,362)

(3,021)

(430)

(17,910)

(15,992)

(2,279)

Selling and marketing expenses

(5,165)

(12,220)

(1,741)

(13,266)

(56,792)

(8,093)

General and administrative expenses

(19,239)

(13,854)

(1,974)

(56,182)

(45,924)

(6,544)

Technology and content expenses

(5,218)

(3,657)

(521)

(15,649)

(13,611)

(1,940)

(2) Includes amortization of intangible assets
and deferred cost resulting from assets and
business acquisitions as follows:

Selling and marketing expenses

(66,412)

(46,263)

(6,592)

(222,337)

(169,154)

(24,104)

Technology and content expenses

(482)

(130)

(19)

(1,446)

(981)

(140)

 

Reconciliations of GAAP and Non-GAAP Results

(Amounts in thousands, except share and per share and otherwise noted)

Three months ended September 30,

Nine months ended September 30,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

Income (loss) from operations

(28,072)

24,885

3,547

(156,627)

(24,135)

(3,439)

Add:

Share-based compensation
expenses

34,984

32,752

4,666

103,007

132,319

18,856

Amortization of intangible assets
and deferred cost resulting from
assets and business acquisitions

66,894

46,393

6,611

223,783

170,135

24,244

Adjusted income from operations
(non-GAAP)

73,806

104,030

14,824

170,163

278,319

39,661

Net income (loss)

(44,188)

17,883

2,550

(159,028)

(85,653)

(12,205)

Add:

Share-based compensation
expenses

34,984

32,752

4,666

103,007

132,319

18,856

Amortization of intangible assets
and deferred cost resulting from
assets and business acquisitions

66,894

46,393

6,611

223,783

170,135

24,244

Less:

Tax effects of amortization of
intangible assets and deferred cost
resulting from assets and business
acquisitions

(10,047)

(6,972)

(994)

(33,607)

(25,559)

(3,642)

Adjusted net income (non-
GAAP)

47,643

90,056

12,833

134,155

191,242

27,253

Adjusted net income per
ordinary share (non-GAAP):

Basic

0.30

0.56

0.08

0.83

1.18

0.17

Diluted

0.29

0.55

0.08

0.80

1.16

0.17

Weighted average number of
shares used in calculating net
income per ordinary share

Basic

161,338,983

161,405,774

161,405,774

161,393,190

162,011,110

162,011,110

Diluted

166,112,358

164,258,720

164,258,720

167,609,332

165,040,389

165,040,389

 

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SOURCE ATRenew Inc.

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Secretary of State Belanger announces expansion of high-speed Internet access in Saskatchewan

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Federal investment of over $141 million will help connect more than 30,000 homes to high–speed Internet

HUMBOLDT, SK, July 24, 2026 /CNW/ — Reliable and affordable high-speed Internet is essential for all Canadians. It enables access to important online resources, connects friends and families, and drives economic growth and innovation. This is why the Government of Canada is helping bring high-speed Internet access to underserved communities–including Indigenous communities–in Saskatchewan.

Today, the Honourable Buckley Belanger, Secretary of State for Rural Development, announced over $141 million in federal funding for six projects to bring high-speed Internet access to more than 30,000 households in over 500 rural and remote communities across Saskatchewan.

This funding is provided through the Universal Broadband Fund, a program designed to ensure that Canadians in rural, remote and Indigenous communities have access to reliable high-speed Internet.

The Government of Canada has committed to ensuring that every household in Canada has access to high-speed Internet by 2030, and it is on track to meet this connectivity target. These projects will build toward that goal, and the government will continue to invest in infrastructure that creates new opportunities and makes sure communities can benefit from all of Canada’s potential.

Quotes

“High-speed Internet is no longer just a luxury–it’s essential infrastructure, no matter where you live in Canada. It’s how people access health care virtually, start a business or just stay in touch with their loved ones. That’s why we made a historic commitment to provide 100% of Canadian households with access to high-speed Internet by 2030. The projects announced today are a major milestone for connectivity in Saskatchewan, providing reliable and affordable high-speed Internet to more than 30,000 underserved homes in over 500 rural and remote communities across the province.”
– The Honourable Buckley Belanger, Secretary of State for Rural Development

“In many rural and remote areas, connectivity projects like these face a number of financial and structural barriers. Federal tools like the Canada Infrastructure Bank help bridge that gap, ensuring critical infrastructure is built where it otherwise would not be. By supporting initiatives like this, we are advancing economic growth today and helping close the connectivity gap for underserved communities well into the future.”
– The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada

“Access to dependable high-speed Internet should not be determined by where people live. Thanks to support from the Government of Canada through the Universal Broadband Fund, RFNOW is delivering the infrastructure needed to connect underserved rural and First Nations communities across Saskatchewan. Together, we are building a stronger digital future that will enhance economic development, support essential services and improve quality of life for thousands of Canadians.”
– Chris Kennedy, Chief Executive Officer, RFNOW Inc.

“Every community deserves the opportunity that comes with access to reliable high-speed Internet–and that’s exactly what this investment delivers. In partnership with the Government of Canada’s Universal Broadband Fund, Xplore is bringing high-speed Internet connectivity to nearly 20,000 homes and businesses in Saskatchewan. Better connectivity means more than faster downloads–it means students can learn without interruption, families can access health care from home, and local businesses can compete on a level playing field.”
– Brent Johnston, Chief Executive Officer, Xplore Inc.

“Since our establishment in 2007, we have been committed to providing dependable Internet service and strengthening connections in the communities we serve. With support from the Government of Canada’s Universal Broadband Fund, we’re excited to expand our network and introduce new 6 GHz fixed wireless technology capable of delivering speeds of up to 1 Gbps. This project will help more residents of rural and remote communities access the reliable high-speed connectivity they need for work, education, health care, business and everyday life.”
– Allen Stafford, President, Stafford Communications Inc.

“Beaver River Broadband has secured federal Universal Broadband Fund support to deliver fibre-to-the-home infrastructure directly to Peepeekisis Cree Nation. This critical investment guarantees gigabit-capable Internet access that will transform local opportunities in digital education, remote health care and community-led economic development. Crucially, the project underscores the importance of partnering with smaller, regional Internet providers that bring deep community roots, agile deployment and a dedicated focus on serving areas that larger national carriers often overlook. As an Indigenous-led regional provider working closely with First Nations, Beaver River Broadband understands the unique needs of the area and delivers tailored, reliable customer support on the ground. Empowering local providers through initiatives like the Universal Broadband Fund ensures that underserved First Nations are not just connected but also supported by partners invested in their long-term digital sovereignty.”
– John DeGraauw, CEO, Beaver River Broadband

“MCSnet’s fibre-to-the-tower expansion in Saskatchewan will deliver fast, highly reliable Internet access to underserved homes in rural Saskatchewan, courtesy of a dedicated, community-invested provider. As a family-owned company based in the Prairies, we have been serving rural communities with our innovative technology and exceptional customer service for over 30 years.”
– Jerome VanBrabant, Chief Projects Officer, MCSnet

Quick facts

Canada’s Connectivity Strategy aims to provide all Canadians with access to Internet speeds of at least 50 megabits per second (Mbps) download / 10 Mbps upload.The Universal Broadband Fund is a $3.225 billion investment by the Government of Canada designed to help provide high-speed Internet access to 98% of Canadian households by the end of 2026 and achieve the national target of 100% access by 2030.Today, 97.4% of Canadian households have access to high-speed Internet, compared to just 79% in 2014.In Saskatchewan, 89.2% of households currently have access to high-speed internet.Since 2015, the Government of Canada has invested $242 million in connectivity projects in Saskatchewan.The Canada Infrastructure Bank has committed more than $2 billion toward digital (broadband) infrastructure, closing last-mile connectivity gaps across Canada.Indigenous women, girls, Two-Spirit individuals and gender diverse people are more likely to go missing or be murdered than non-Indigenous women. Better connectivity means more tools in moments of danger, enabling victims of violence to access critical online resources and get help when they need it most.Building on the Building a Green Prairie Economy Act, the Government of Canada launched the Prairie Partnership Initiative to build a dynamic, sustainable and inclusive economy in the Prairie provinces.

Associated links

Rural economic developmentHigh-Speed Internet Access DashboardUniversal Broadband FundBackgrounder: Universal Broadband Fund and Telesat low Earth orbit capacity agreementCanada Infrastructure Bank: Digital Infrastructure and AIHigh-Speed Access for All: Canada’s Connectivity StrategyNational Broadband MapFederal Pathway to Address Missing and Murdered Indigenous Women, Girls and 2SLGBTQQIA+ PeoplePrairie Partnership Initiative

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Fragmented Web Strategies Leave Organizations Exposed as Digital Expectations Rise, Warns Info-Tech Research Group

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Organizations are increasingly focused on modernizing their digital presence to meet rising user expectations, yet many still rely on decentralized content models, inconsistent governance, and legacy platforms. New findings from Info-Tech Research Group show that without a structured web experience management (WEM) strategy, web initiatives often fail to align with business goals and user needs. The firm’s blueprint Develop Your Web Experience Management Strategy provides a five-phase framework and tools to help IT leaders strengthen governance and align web priorities with organizational objectives.

ARLINGTON, Va., July 24, 2026 /CNW/ — Organizations continue to invest in digital platforms and web modernization efforts, but progress is often limited by unclear priorities, inconsistent ownership, and a lack of shared performance measures. New insights from Info-Tech Research Group indicate that without a clear understanding of web experience maturity and readiness, digital investments fail to translate into consistent and measurable outcomes. The global research and advisory firm’s recently published blueprint, Develop Your Web Experience Management Strategy, provides a structured five-phase methodology to assess current-state capabilities, define priority audiences and journeys, and build a practical roadmap for evolving the web ecosystem in alignment with organizational objectives.

“Web experience management has moved beyond basic websites to become a core driver of growth and engagement,” says Hriday Gulrajani, senior research analyst at Info-Tech Research Group. “CIOs and IT leaders need to align marketing, data, and technology teams under clear governance and a structured roadmap to deliver consistent, scalable digital experiences.”

Info-Tech’s blueprint shows that many organizations treat web modernization as a technology upgrade rather than a coordinated experience strategy. As a result, content operations remain decentralized, integration between core systems such as CMS, CRM, and analytics platforms is inconsistent, and governance responsibilities are not clearly defined. While capabilities such as personalization, automation, and advanced analytics offer opportunities to improve engagement and operational efficiency, organizations often lack a structured framework for prioritizing initiatives and measuring progress across the web ecosystem.

Key Challenges IT Leaders Face in Web Experience Management
Despite ongoing investment in digital platforms and experience initiatives, many organizations encounter structural and operational barriers that limit progress. Info-Tech’s research highlights several persistent challenges:

Content decisions are often made in silos, resulting in inconsistent messaging, fragmented governance, and unclear ownership across teams.Limited integration between CMS, CRM, analytics, and other core systems restricts visibility into user behavior and makes it difficult to measure and improve web experience performance.Legacy platforms and constrained architectures limit personalization, automation, accessibility, and multichannel delivery capabilities.Misalignment between marketing, IT, and data teams slows decision-making and weakens the organization’s ability to evolve its web ecosystem strategically.

Info-Tech’s Practical Framework for Web Experience Management
To address these challenges, Info-Tech recommends a structured five-phase approach that connects organizational strategy, customer experience priorities, and web execution. The Develop Your Web Experience Management Strategy blueprint outlines the following priorities for CIOs and IT leaders:

Phase 1: Define Vision & Success Criteria – Align WEM objectives to organizational strategy, define strategic outcomes, and establish experience KPIs to measure performance across digital touchpoints.

Phase 2: Assess Current State & Readiness – Use a web experience maturity model to evaluate capabilities across people, process, technology, and performance, and identify integration gaps and readiness risks.

Phase 3: Understand Audiences & Experience Priorities – Define priority personas, map end-to-end journeys, and translate organizational goals into structured web experience use cases prioritized by value and feasibility.

Phase 4: Architect & Govern the Ecosystem – Establish architecture principles, design the target-state WEM ecosystem, and define governance structures and operating models that clarify roles, ownership, and decision rights.

Phase 5: Launch, Communicate, & Measure – Develop a phased roadmap aligned to key value drivers, implement performance measurement frameworks, and enable continuous optimization across the web ecosystem.

Info-Tech’s Develop Your Web Experience Management Strategy blueprint is supported by a Web Experience Management Business Case Template and a Web Experience Initiatives Prioritization and Roadmap Planning Tool. These resources are designed to help CIOs and IT leaders build a clear case for modernization, prioritize initiatives based on value and feasibility, and develop phased roadmaps aligned to organizational objectives. By applying this framework and its supporting tools, organizations can strengthen governance, improve cross-functional alignment, and evolve their web ecosystem in a measurable and scalable way.

For exclusive and timely commentary from Info-Tech’s experts, including Hriday Gulrajani, and access to the complete Develop Your Web Experience Management Strategy blueprint, please contact pr@infotech.com.

About Info-Tech Research Group
Info-Tech Research Group is one of the world’s leading and fastest-growing research and advisory firms, serving over 30,000 IT, HR, and marketing professionals around the globe. As a trusted product and service leader, the company delivers unbiased, highly relevant research and industry-leading advisory support to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide everything they need, from actionable tools to expert guidance, ensuring they deliver measurable results for their organizations. 

To learn more about Info-Tech’s HR research and advisory services, visit McLean & Company, and for data-driven software buying insights and vendor evaluations, visit the firm’s SoftwareReviews platform. 

Media professionals can register for unrestricted access to research across IT, HR, and software, as well as hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com

For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X

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In HelloNation, Custom Fabrication Expert Mark Coyle Explains What to Know Before Choosing an Aluminum Fabrication Partner

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The article explains how an integrated fabrication process supports better quality, efficiency, and long-term project success.

ROCHESTER, N.Y., July 24, 2026 /PRNewswire/ — What should someone look for before selecting an aluminum fabrication partner who can guide a project from the first design sketch through final delivery? That question is answered in a HelloNation article featuring insights from Custom Fabrication Expert  Mark Coyle of American Custom Metals, Inc. in Rochester, New York, that explains how the full aluminum production workflow shapes accuracy, consistency, and long-term reliability. The article shows why a clear understanding of each stage in the process helps people make informed decisions before committing to a fabrication partner.

The article begins by explaining that aluminum fabrication involves far more than cutting or welding. It describes how every project moves through a connected chain of design support, extrusion, machining, finishing, and logistics. Each step affects the next, and the article notes that the best results come from choosing an aluminum fabrication partner who keeps these stages aligned. By showing how coordination prevents errors, the article gives readers a practical way to evaluate a potential shop.

Early design support is a major focus of the article. It states that many projects benefit when design engineering is handled in-house because small adjustments to a profile can influence strength, weight, and final performance. The HelloNation article explains that an aluminum fabrication partner with internal design capabilities can review shapes before tooling begins, reducing the risk of delays caused by unrealistic or difficult-to-extrude features. This design stage sets the direction for everything that follows, making it one of the most valuable parts of the process.

The article also examines extrusion, which it calls one of the most specialized stages in aluminum manufacturing. It notes that some shops do not extrude their own material, which forces them to rely on outside mills. That structure can lead to longer schedules and more points of communication. By contrast, an aluminum fabrication partner with direct access to extrusion equipment can control die design, schedule production runs, and manage metal flow more precisely. The article explains that this control reduces variation between batches, which supports stable timelines and more predictable quality.

Machining receives detailed attention as well. The article states that accuracy depends on how well each machine is calibrated for the specific alloy and geometry involved. It describes how a fabricator who machines their own extrusions becomes familiar with how those profiles respond to different tool paths and cutting forces. This familiarity supports tighter tolerances and more dependable results. The article explains that when machining is outsourced, the receiving shop may not know the conditions under which the material was extruded or aged, which can cause small adjustments that affect uniformity across long runs.

Finishing is another important stage explored in the article. It explains how anodizing, powder coating, polishing, or protective layers interact with thickness and alloy. The article notes that when finishing is spread across multiple vendors, the project moves more often, which increases the chance for delays or inconsistency. An aluminum fabrication partner with integrated finishing services can keep color and coating texture more uniform while maintaining a tighter schedule.

Logistics also plays a key role in the article’s guidance. It highlights that aluminum profiles, especially long or delicate ones, require thoughtful packaging, palletizing, and freight planning. A shop with its own logistics team can reduce damage risks and speed up the time between manufacturing and delivery. The article explains that when logistics is outsourced, communication slows down and the chances of errors increase, making it harder to keep a project on schedule.

Tolerance control is another subject the article describes. It explains that aluminum reacts to heat, pressure, and machining forces in predictable ways only when the team understands how the material was formed at every stage. The article notes that when extrusion, aging, machining, and inspection all occur within one operation, teams can maintain a closed loop of information. This reduces the risk of dimensional issues and strengthens consistency from batch to batch.

As the article moves toward its conclusion, it emphasizes that choosing the right aluminum fabrication partner comes down to understanding how many stages the shop directly manages. When a partner controls design, extrusion, machining, finishing, and logistics, communication becomes clearer, and the workflow becomes more predictable. The article explains that this unified structure allows teams to adjust quickly because they understand every step of the operation.

The article ends by stating that dependable performance in aluminum work depends on how well each stage connects to the next. A strong aluminum fabrication partner is defined not by one capability but by how the entire process fits together. This guidance gives readers a practical way to evaluate potential partners and make decisions that support long-term project success.

What to Know Before Choosing an Aluminum Fabrication Partner features insights from Mark Coyle, Custom Fabrication Expert of Rochester, NY, in HelloNation.

About HelloNation
HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

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