Technology
Hello Group Inc. Announces Unaudited Financial Results for the Third Quarter of 2024
Published
2 years agoon
By
BEIJING, Dec. 9, 2024 /PRNewswire/ — Hello Group Inc. (NASDAQ: MOMO) (“Hello Group” or the “Company”), a leading player in mainland China’s online social networking space, today announced its unaudited financial results for the third quarter of 2024.
Third Quarter of 2024 Highlights
Net revenues decreased by 12.1% year over year to RMB2,674.7 million (US$381.1 million*) in the third quarter of 2024. Net income attributable to Hello Group Inc. decreased to RMB449.4 million (US$64.0 million) in the third quarter of 2024, from RMB546.4 million in the same period of 2023.Non-GAAP net income attributable to Hello Group Inc. (note 1) decreased to RMB493.3 million (US$70.3 million) in the third quarter of 2024, from RMB605.9 million in the same period of 2023. Diluted net income per American Depositary Share (“ADS”) was RMB2.46 (US$0.35) in the third quarter of 2024, compared to RMB2.75 in the same period of 2023. Non-GAAP diluted net income per ADS (note 1) was RMB2.70 (US$0.38) in the third quarter of 2024, compared to RMB3.05 in the same period of 2023.Monthly Active Users (“MAU”) on Tantan app were 12.0 million in September 2024, compared to 15.7 million in September 2023.For the Momo app total paying users was 6.9 million for the third quarter of 2024, compared to 7.8 million for the same period last year. Tantan had 0.9 million paying users for the third quarter of 2024 compared to 1.4 million from the year ago period.
First Nine Months of 2024 Highlights
Net revenues decreased by 11.9% year over year to RMB7,926.5 million (US$1,129.5 million) for the first nine months of 2024.Net income attributable to Hello Group Inc. was RMB852.3 million (US$121.5 million) for the first nine months of 2024, compared to RMB1,505.1 million during the same period of 2023.Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,002.4 million (US$142.8 million) for the first nine months of 2024, compared to RMB1,710.0 million during the same period of 2023.Diluted net income per ADS was RMB4.51(US$0.64) for the first nine months of 2024, compared to RMB7.52 during the same period of 2023.Non-GAAP diluted net income per ADS (note 1) was RMB5.31(US$0.76) for the first nine months of 2024, compared to RMB8.53 during the same period of 2023.
“Q3 2024 was a fruitful quarter for us. We delivered satisfactory financial results and executed well against our strategic priorities across all business lines,” commented Yan Tang, Chairman and CEO of Hello Group. ” Our overseas business reaccelerated growth thanks to improved operational efficiency. Our team made good progress in advancing the localization process and expanding our product offering. This gives us more confidence to continue to invest firmly in more diversified overseas markets.”
* This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rate solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars, in this press release, were made at a rate of RMB7.0176 to US$1.00, the effective noon buying rate for September 30, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board.
Third Quarter of 2024 Financial Results
Net revenues
Total net revenues were RMB2,674.7 million (US$381.1 million) in the third quarter of 2024, a decrease of 12.1% from RMB3,042.8 million in the third quarter of 2023.
Live video service revenues were RMB1,286.4 million (US$183.3 million) in the third quarter of 2024, a decrease of 16.0% from RMB1,530.8 million during the same period of 2023. The decrease was primarily attributable to our proactive operational adjustments to de-emphasize large scale competition events in the Momo app and a soft consumer sentiment in the current macro environment, and to a lesser degree, Tantan pivoting away from the less dating-centric live video service.
Value-added service revenues mainly include virtual gift revenues and membership subscription revenues. Total value-added service revenues were RMB1,356.3 million (US$193.3 million) in the third quarter of 2024, a decrease of 7.5% from RMB1,466.7 million during the same period of 2023. The decrease was primarily due to our product adjustments to improve Momo app’s ecosystem as well as the impact of the macro economy on consumer sentiment, and to a lesser extent, the decline in Tantan’s paying users which was in turn due to the decline in user base and the short-term impact of the product upgrade on new user paying conversions. The decrease was partially offset by the revenue growth from the new standalone apps.
Mobile marketing revenues were RMB30.7 million (US$4.4 million) in the third quarter of 2024, compared to RMB30.7 million during the same period of 2023.
Net revenues from the Momo segment decreased from RMB2,743.1 million in the third quarter of 2023 to RMB2,462.3 million (US$350.9 million) in the third quarter of 2024, primarily due to the decrease in net revenues from value-added service and live video service on Momo app. The decrease was partially offset by the revenue growth of the new standalone apps. Net revenues from the Tantan segment decreased from RMB295.0 million in the third quarter of 2023 to RMB212.1 million (US$30.2 million) in the third quarter of 2024, mainly due to the decrease in net revenues from live video service and value-added service.
Cost and expenses
Cost and expenses were RMB2,286.2 million (US$325.8 million) in the third quarter of 2024, a decrease of 7.1% from RMB2,461.1 million in the third quarter of 2023. The decrease was primarily attributable to: (a) a decrease in revenue sharing with broadcasters related to live video service on Momo app and Tantan app, and a decrease in revenue sharing with virtual gift recipients of virtual gift service on Momo app. The decrease was partially offset by an increase in revenue sharing with virtual gift recipients for new standalone apps; and (b) a decrease in salary expenses and share-based compensation expenses, due to our continuous optimization in personnel costs and the newly granted share options which had lower fair value.
Non-GAAP cost and expenses (note 1) were RMB2,242.2 million (US$319.5 million) in the third quarter of 2024, a decrease of 6.6% from RMB2,401.6 million during the same period of 2023.
Income from operations
Income from operations was RMB410.7 million (US$58.5 million) in the third quarter of 2024, compared to RMB621.8 million during the same period of 2023. Income from operations of the Momo segment was RMB397.5 million (US$56.7 million) in the third quarter of 2024, which decreased from RMB618.6 million in the third quarter of 2023. Income from operations of the Tantan segment was RMB14.7 million (US$2.1 million) in the third quarter of 2024, which decreased from RMB24.0 million in the third quarter of 2023.
Non-GAAP income from operations (note 1) was RMB454.7 million (US$64.8 million) in the third quarter of 2024, compared to RMB681.2 million during the same period of 2023. Non-GAAP income from operations of the Momo segment was RMB441.0 million (US$62.8 million) in the third quarter of 2024, which decreased from RMB674.5 million in the third quarter of 2023. Non-GAAP income from operations of the Tantan segment was RMB15.2 million (US$2.2 million) in the third quarter of 2024, compared to RMB27.6 million in the third quarter of 2023.
Income tax expenses
Income tax expenses were RMB95.3 million (US$13.6 million) in the third quarter of 2024, compared to RMB158.1 million in the third quarter of 2023. The decrease in income tax expenses was primarily due to the lower profit in the third quarter of 2024, and to a lesser extent, lower withholding tax rate due to our eligibility for a preferential tax rate since the beginning of the year.
Net income
Net income was RMB449.4 million (US$64.0 million) in the third quarter of 2024, compared to RMB542.2 million during the same period of 2023. Net income from the Momo segment was RMB436.4 million (US$62.2 million) in the third quarter of 2024, compared to RMB540.0 million in the same period of 2023. Net income from the Tantan segment was RMB14.4 million (US$2.1 million) in the third quarter of 2024, compared to RMB23.0 million in the third quarter of 2023.
Non-GAAP net income (note 1) was RMB493.3 million (US$70.3 million) in the third quarter of 2024, compared to RMB601.6 million during the same period of 2023. Non-GAAP net income from the Momo segment was RMB479.9 million (US$68.4 million) in the third quarter of 2024, which decreased from RMB595.9 million in the third quarter of 2023. Non-GAAP net income of the Tantan segment was RMB14.9 million (US$2.1 million) in the third quarter of 2024, compared to RMB26.6 million in the third quarter of 2023.
Net income attributable to Hello Group Inc.
Net income attributable to Hello Group Inc. was RMB449.4 million (US$64.0 million) in the third quarter of 2024, compared to RMB546.4 million during the same period of 2023.
Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB493.3 million (US$70.3 million) in the third quarter of 2024, compared to RMB605.9 million during the same period of 2023.
Net income per ADS
Diluted net income per ADS was RMB2.46 (US$0.35) in the third quarter of 2024, compared to RMB2.75 in the third quarter of 2023.
Non-GAAP diluted net income per ADS (note 1) was RMB2.70 (US$0.38) in the third quarter of 2024, compared to RMB3.05 in the third quarter of 2023.
Cash and cash flow
As of September 30, 2024, the Company’s cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB14,782.2 million (US$2,106.4 million), compared to RMB13,478.5 million as of December 31, 2023.
Net cash provided by operating activities in the third quarter of 2024 was RMB341.0 million (US$48.6 million), compared to RMB582.5 million in the third quarter of 2023.
First Nine Months of 2024 Financial Results
Net revenues for the first nine months of 2024 were RMB7,926.5 million (US$1,129.5 million), a decrease of 11.9% from RMB8,999.4 million in the same period of 2023.
Net income attributable to Hello Group Inc. was RMB852.3 million (US$121.5 million) for the first nine months of 2024, compared to RMB1,505.1 million during the same period of 2023.
Non-GAAP net income attributable to Hello Group Inc. (note 1) was RMB1,002.4 million (US$142.8 million) for the first nine months of 2024, compared to RMB1,710.0 million during the same period of 2023.
Diluted net income per ADS was RMB4.51 (US$0.64) during the first nine months of 2024, compared to RMB7.52 in the same period of 2023.
Non-GAAP diluted net income per ADS (note 1) was RMB5.31 (US$0.76) during the first nine months of 2024, compared to RMB8.53 in the same period of 2023.
Net cash provided by operating activities was RMB1,216.4 million (US$173.3 million) during the first nine months of 2024, compared to RMB1,861.3 million in the same period of 2023.
Recent Development
Share repurchase program
On June 7, 2022, Hello Group’s board of directors authorized a share repurchase program under which the Company may repurchase up to US$200 million of its shares up to June 6, 2024 (the “Share Repurchase Program”). On March 14, 2024, Hello Group’s board of directors approved to amend the Share Repurchase Program to (i) extend the term of the Share Repurchase Program up to June 30, 2026, and (ii) upsize the Share Repurchase Program so that the Company is authorized to, from time to time, acquire up to an aggregate of US$286.1 million worth of its shares in the form of ADSs and/or the ordinary shares of the Company in the open market and through privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations.
As of December 9, 2024, the Company has repurchased 40.0 million ADSs for US$238.4 million on the open market under Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024, at an average purchase price of US$5.94 per ADS.
Business Outlook
For the fourth quarter of 2024, the Company expects total net revenues to be between RMB2.56 billion to RMB2.66 billion, representing a decrease of 14.7% to 11.4% year over year. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change.
Note 1: Non-GAAP measures
To supplement our consolidated financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”), we, Hello Group, use various non-GAAP financial measures that are adjusted from the most comparable GAAP results to exclude share-based compensation and such adjustment has no impact on income tax.
Reconciliations of our non-GAAP financial measures to our U.S. GAAP financial measures are shown in tables at the end of this earnings release, which provide more details about the non-GAAP financial measures.
Our non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors’ overall understanding of the historical and current financial performance of our continuing operations and our prospects for the future. Our non-GAAP financial information should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to the GAAP results. In addition, our calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited.
Our non-GAAP information (including non-GAAP cost and operating expenses, income (loss) from operations, net income (loss), net income attributable to Hello Group Inc., and diluted net income per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation and such adjustment has no impact on income tax. A limitation of using these non-GAAP financial measures is that share-based compensation has been and will continue to be for the foreseeable future significant recurring expenses in our results of operations. We compensate for such limitation by providing reconciliations of our non-GAAP measures to our U.S. GAAP measures. Please see the reconciliation tables at the end of this earnings release.
Conference Call
Hello Group’s management will host an earnings conference call on Monday, December 9, 2024, at 7:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on December 9, 2024).
Participants can register for the conference call by navigating to:
https://s1.c-conf.com/diamondpass/10043397-w4b3f5.html.
Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.
A telephone replay of the call will be available after the conclusion of the conference call through December 16, 2024. The dial-in details for the replay are as follows:
U.S. / Canada: 1-855-883-1031
Hong Kong: 800-930-639
Passcode: 10043397
Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Hello Group’s website at https://ir.hellogroup.com.
About Hello Group Inc.
We are a leading player in mainland China’s online social networking space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, and Duidui, which target more niche markets and more selective demographics.
For investor and media inquiries, please contact:
Hello Group Inc.
Investor Relations
Phone: +86-10-5731-0538
Email: ir@hellogroup.com
Christensen
In China
Ms. Xiaoyan Su
Phone: +86-10-5900-1548
E-mail: Xiaoyan.Su@christensencomms.com
In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
Safe Harbor Statement
This news release contains “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, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to our management quotes, our financial outlook for the fourth quarter of 2024, as well as the amount of, timing, methods and funding sources for repurchases of our shares under the share repurchase program.
Our forward-looking statements are not historical facts but instead represent only our belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of our control. Our actual results and other circumstances may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the third quarter of 2024 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the fourth quarter of 2024 and may be unable to grow our business in the manner planned. We may also modify our strategy for growth. Moreover, there are other risks and uncertainties that could cause our actual results to differ from what we currently anticipate, including those relating to our ability to retain and grow our user base, our ability to attract and retain sufficiently trained professionals to support our operations, our ability to anticipate and develop new services and enhance existing services to meet the demand of our users or customers, the market price of the Company’s stock prevailing from time to time, the nature of other investment opportunities presented to the Company from time to time, the Company’s cash flows from operations, general economic conditions, and other factors. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see our filings with the U.S. Securities and Exchange Commission.
All information provided in this press release and in the attachments is as of the date of the press release. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law. Such information speaks only as of the date of this release.
Hello Group Inc.
Unaudited Condensed Consolidated Statement of Operations
(All amounts in thousands, except share and per share data)
Three months
First nine months
Ended September 30
Ended September 30
2023
2024
2024
2023
2024
2024
RMB
RMB
US$
RMB
RMB
US$
Net revenues:
Live video service
1,530,797
1,286,442
183,317
4,548,986
3,828,003
545,486
Value-added service
1,466,727
1,356,270
193,267
4,327,678
3,995,962
569,420
Mobile marketing
30,705
30,735
4,380
88,762
99,320
14,153
Mobile games
7,864
–
–
14,169
432
62
Other services
6,754
1,217
173
19,796
2,758
393
Total net revenues
3,042,847
2,674,664
381,137
8,999,391
7,926,475
1,129,514
Cost and expenses:
Cost of revenues
(1,771,530)
(1,623,723)
(231,379)
(5,255,277)
(4,722,520)
(672,954)
Research and development
(201,693)
(196,382)
(27,984)
(653,145)
(581,741)
(82,897)
Sales and marketing
(373,942)
(354,881)
(50,570)
(1,110,253)
(1,013,081)
(144,363)
General and administrative
(113,896)
(111,174)
(15,842)
(376,981)
(364,037)
(51,875)
Total cost and expenses
(2,461,061)
(2,286,160)
(325,775)
(7,395,656)
(6,681,379)
(952,089)
Other operating income, net
39,971
22,221
3,166
99,284
50,988
7,266
Income from operations
621,757
410,725
58,528
1,703,019
1,296,084
184,691
Interest income
96,791
134,875
19,220
311,899
386,919
55,136
Interest expense
(19,293)
(34,809)
(4,960)
(41,671)
(91,000)
(12,967)
Other gain or loss, net
–
–
–
4,565
(43,870)
(6,251)
Income before income tax and share of income (loss) on equity
method investments
699,255
510,791
72,788
1,977,812
1,548,133
220,609
Income tax expenses
(158,064)
(95,298)
(13,580)
(446,646)
(755,525)
(107,661)
Income before share of income (loss)on equity method
investments
541,191
415,493
59,208
1,531,166
792,608
112,948
Share of income (loss) on equity method investments
974
33,876
4,827
(31,940)
59,730
8,511
Net income
542,165
449,369
64,035
1,499,226
852,338
121,459
Less: net loss attributable to non-controlling interest
(4,263)
–
–
(5,886)
–
–
Net income attributable to the shareholders of Hello Group Inc.
546,428
449,369
64,035
1,505,112
852,338
121,459
Net income per share attributable to ordinary shareholders
Basic
1.44
1.29
0.18
3.98
2.36
0.34
Diluted
1.37
1.23
0.18
3.76
2.26
0.32
Weighted average shares used in calculating net income per ordinary
share
Basic
379,292,110
347,943,851
347,943,851
378,085,030
361,613,017
361,613,017
Diluted
398,296,690
365,942,405
365,942,405
405,490,366
377,697,017
377,697,017
Hello Group Inc.
Unaudited Condensed Consolidated Statement of Comprehensive Income
(All amounts in thousands, except share and per share data)
Three months
First nine months
Ended September 30
Ended September 30
2023
2024
2024
2023
2024
2024
RMB
RMB
US$
RMB
RMB
US$
Net income
542,165
449,369
64,035
1,499,226
852,338
121,459
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment
6,032
(287,150)
(40,919)
116,188
(190,687)
(27,173)
Comprehensive income
548,197
162,219
23,116
1,615,414
661,651
94,286
Less: comprehensive (loss) income attributed to the non-
controlling interest
(3,141)
(6,400)
(912)
5,377
(2,114)
(301)
Comprehensive income attributable to Hello Group Inc.
551,338
168,619
24,028
1,610,037
663,765
94,587
Hello Group Inc.
Unaudited Condensed Consolidated Balance Sheets
(All amounts in thousands, except share and per share data)
December 31
September 30
September 30
2023
2024
2024
RMB
RMB
US$
Assets
Current assets
Cash and cash equivalents
5,620,466
3,301,235
470,422
Short-term deposits
1,270,626
2,840,310
404,741
Restricted cash
10,147
4,084,937
582,099
Accounts receivable, net of allowance for doubtful accounts of
RMB12,780 and RMB12,490 as of December 31, 2023 and September
30, 2024, respectively
201,517
186,374
26,558
Amounts due from related parties
7,258
–
–
Prepaid expenses and other current assets
723,364
1,008,208
143,668
Total current assets
7,833,378
11,421,064
1,627,488
Long-term deposits
3,924,975
3,354,400
477,998
Long-term restricted cash
2,652,299
1,201,311
171,185
Right-of-use assets, net
109,572
288,193
41,067
Property and equipment, net
659,033
879,996
125,398
Intangible assets, net
17,086
13,247
1,888
Rental deposits
12,962
13,257
1,889
Long-term investments
786,911
783,521
111,651
Amounts due from RPT-non current
20,000
–
–
Other non-current assets
180,052
161,702
23,042
Deferred tax assets
31,741
35,938
5,121
Total assets
16,228,009
18,152,629
2,586,727
Liabilities and equity
Current liabilities
Accounts payable
616,681
608,607
86,723
Deferred revenue
442,805
443,036
63,132
Accrued expenses and other current liabilities
630,617
600,435
85,561
Amounts due to related parties
4,314
–
–
Lease liabilities due within one year
60,008
154,969
22,083
Income tax payable
94,719
93,432
13,314
Deferred consideration in connection with business acquisitions
27,261
26,945
3,840
Convertible Senior Notes-current
–
19,394
2,764
Long-term borrowings, current portion
215,615
1,938,385
276,218
Short-term borrowings
–
2,365,535
337,086
Total current liabilities
2,092,020
6,250,738
890,721
Deferred tax liabilities
24,987
323,362
46,079
Convertible Senior Notes
19,571
–
–
Long-term borrowings
1,938,385
–
–
Lease liabilities
52,171
142,803
20,349
Other non-current liabilities
114,085
130,359
18,576
Total liabilities
4,241,219
6,847,262
975,725
Shareholder’s equity (i)
11,986,790
11,305,367
1,611,002
Total liabilities and shareholder’s equity
16,228,009
18,152,629
2,586,727
(i): As of September 30, 2024, the number of ordinary shares outstanding was 344,219,472.
Hello Group Inc.
Unaudited Condensed Consolidated Statement of Cash Flows
(All amounts in thousands, except share and per share data)
Three months
First nine months
Ended September 30
Ended September 30
2023
2024
2024
2023
2024
2024
RMB
RMB
US$
RMB
RMB
US$
Cash flows from operating activities:
Net income
542,165
449,369
64,035
1,499,226
852,338
121,459
Adjustments to reconcile net income to net cash provided by operating
activities:
Depreciation of property and equipment
17,467
13,144
1,873
59,098
40,979
5,839
Amortization of intangible assets
1,279
1,279
182
3,837
3,837
547
Share-based compensation
59,472
43,951
6,264
204,877
150,079
21,385
Share of (income) loss on equity method investments
(974)
(33,876)
(4,827)
31,940
(59,730)
(8,511)
Gain on repurchase of convertible senior notes
–
–
–
(4,565)
–
–
Cash received on distributions from equity method investments
718
–
–
2,067
1,197
171
Loss on long-term investments
–
–
–
–
43,870
6,251
Gain or loss on disposal of property and equipment
(60)
(142)
(20)
(520)
(62)
(9)
Provision of (income) loss on receivable and other assets
(133)
1,754
250
10,071
3,675
524
Changes in operating assets and liabilities:
Accounts receivable
10,749
(3,876)
(552)
(9,916)
11,952
1,703
Prepaid expenses and other current assets
(96,572)
(97,212)
(13,853)
98,294
(91,846)
(13,088)
Amounts due from related parties
(27,114)
–
–
(27,059)
–
–
Rental deposits
1,301
493
70
2,252
(309)
(44)
Deferred tax assets
415
(117)
(17)
872
(4,195)
(598)
Other non-current assets
(50,578)
22,945
3,270
(27,639)
(183,398)
(26,134)
Accounts payable
6,987
16,036
2,285
38,825
(15,710)
(2,239)
Income tax payable
24,215
35,209
5,017
20,496
(1,288)
(184)
Deferred revenue
11,736
(838)
(119)
(11,137)
568
81
Accrued expenses and other current liabilities
15,374
(3,390)
(483)
(172,186)
61,357
8,743
Amount due to related parties
(8,401)
–
–
(5,504)
–
–
Deferred tax liabilities
47,681
(85,088)
(12,125)
130,198
294,333
41,942
Other non-current liabilities
26,741
(18,688)
(2,663)
17,757
108,705
15,490
Net cash provided by operating activities
582,468
340,953
48,587
1,861,284
1,216,352
173,328
Cash flows from investing activities:
Purchase of property and equipment
(238,219)
(19,796)
(2,821)
(259,463)
(263,814)
(37,593)
Payment for long-term investments
–
(28,000)
(3,990)
(9,000)
(33,250)
(4,738)
Purchase of short-term deposits
(531,214)
(2,133,086)
(303,962)
(1,028,556)
(2,133,086)
(303,962)
Cash received on maturity of short-term deposits
1,900,000
–
–
5,409,820
1,081,016
154,044
Cash received on investment income distribution
–
–
–
1,517
–
–
Purchase of long-term deposits
(2,498,860)
–
–
(3,848,860)
(718,860)
(102,437)
Cash received on maturity of long-term deposits
1,700,000
–
–
1,700,000
718,860
102,437
Cash received from sales of long-term investment
15,000
–
–
15,000
2,000
285
Loan to a third-party company
–
(96,680)
(13,777)
–
(96,680)
(13,777)
Other investing activities
137
212
30
1,822
895
128
Net cash provided by (used in) investing activities
346,844
(2,277,350)
(324,520)
1,982,280
(1,442,919)
(205,613)
Cash flows from financing activities:
Proceeds from exercise of share options
551
4
1
570
17
2
Repurchase of ordinary shares
(58,767)
(265,441)
(37,825)
(62,004)
(772,263)
(110,047)
Repurchase of subsidiary’s share options
(223)
–
–
(4,319)
–
–
Dividends payment
–
–
–
(937,249)
(716,302)
(102,072)
Proceeds from short-term borrowings
–
1,033,900
147,330
–
2,365,535
337,086
Proceeds from long-term borrowings
2,154,000
–
–
2,154,000
–
–
Repayment of long-term borrowings
–
(215,400)
(30,694)
–
(215,615)
(30,725)
Payment for redemption of convertible bonds
(86,932)
–
–
(2,679,942)
–
–
Net cash provided by (used in) financing activities
2,008,629
553,063
78,812
(1,528,944)
661,372
94,244
Effect of exchange rate changes
(7,837)
(178,773)
(25,478)
128,597
(130,234)
(18,559)
Net increase (decrease) in cash and cash equivalents
2,930,104
(1,562,107)
(222,599)
2,443,217
304,571
43,400
Cash, cash equivalents and restricted cash at the beginning of period
4,711,714
10,149,590
1,446,305
5,198,601
8,282,912
1,180,306
Cash, cash equivalents and restricted cash at the end of period
7,641,818
8,587,483
1,223,706
7,641,818
8,587,483
1,223,706
Hello Group Inc.
Reconciliation of Non-GAAP financial measures to comparable GAAP measures
(All amounts in thousands, except per share data)
1.
Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income to comparable GAAP measures.
Three months
Three months
Three months
Ended September 30, 2023
Ended September 30, 2024
Ended September 30, 2024
GAAP
Share-based
compensation
Non-GAAP
GAAP
Share-based
compensation
Non-GAAP
GAAP
Share-based
compensation
Non-GAAP
RMB
RMB
RMB
RMB
RMB
RMB
US$
US$
US$
Cost of revenues
(1,771,530)
1,211
(1,770,319)
(1,623,723)
2,143
(1,621,580)
(231,379)
305
(231,074)
Research and development
(201,693)
14,993
(186,700)
(196,382)
11,030
(185,352)
(27,984)
1,573
(26,411)
Sales and marketing
(373,942)
5,854
(368,088)
(354,881)
4,774
(350,107)
(50,570)
680
(49,890)
General and administrative
(113,896)
37,414
(76,482)
(111,174)
26,004
(85,170)
(15,842)
3,706
(12,136)
Cost and operating expenses
(2,461,061)
59,472
(2,401,589)
(2,286,160)
43,951
(2,242,209)
(325,775)
6,264
(319,511)
Income from operations
621,757
59,472
681,229
410,725
43,951
454,676
58,528
6,264
64,792
Net income attributable to Hello Group Inc.
546,428
59,472
605,900
449,369
43,951
493,320
64,035
6,264
70,299
Hello Group Inc.
Reconciliation of Non-GAAP financial measures to comparable GAAP measures
(All amounts in thousands, except per share data)
1.
Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income to comparable GAAP measures-continued.
First nine months
First nine months
First nine months
Ended September 30, 2023
Ended September 30, 2024
Ended September 30, 2024
GAAP
Share-based
compensation
Non-GAAP
GAAP
Share-based
compensation
Non-GAAP
GAAP
Share-based
compensation
Non-GAAP
RMB
RMB
RMB
RMB
RMB
RMB
US$
US$
US$
Cost of revenues
(5,255,277)
4,398
(5,250,879)
(4,722,520)
5,821
(4,716,699)
(672,954)
829
(672,125)
Research and development
(653,145)
51,186
(601,959)
(581,741)
33,328
(548,413)
(82,897)
4,749
(78,148)
Sales and marketing
(1,110,253)
20,413
(1,089,840)
(1,013,081)
15,040
(998,041)
(144,363)
2,143
(142,220)
General and administrative
(376,981)
128,880
(248,101)
(364,037)
95,890
(268,147)
(51,875)
13,664
(38,211)
Cost and operating expenses
(7,395,656)
204,877
(7,190,779)
(6,681,379)
150,079
(6,531,300)
(952,089)
21,385
(930,704)
Income from operations
1,703,019
204,877
1,907,896
1,296,084
150,079
1,446,163
184,691
21,385
206,076
Net income attributable to Hello Group Inc.
1,505,112
204,877
1,709,989
852,338
150,079
1,002,417
121,459
21,385
142,844
Hello Group Inc.
Unaudited Condensed Segment Report
(All amounts in thousands, except share and per share data)
Three months
Ended September 30, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Net revenues:
Live video service
1,219,890
66,552
–
1,286,442
183,317
Value-added service
1,219,115
137,155
–
1,356,270
193,267
Mobile marketing
22,368
8,367
–
30,735
4,380
Other services
899
–
318
1,217
173
Total net revenues
2,462,272
212,074
318
2,674,664
381,137
Cost and expenses (ii):
Cost of revenues
(1,523,515)
(100,171)
(37)
(1,623,723)
(231,379)
Research and development
(160,161)
(36,221)
–
(196,382)
(27,984)
Sales and marketing
(298,630)
(55,033)
(1,218)
(354,881)
(50,570)
General and administrative
(103,438)
(7,175)
(561)
(111,174)
(15,842)
Total cost and expenses
(2,085,744)
(198,600)
(1,816)
(2,286,160)
(325,775)
Other operating income
21,021
1,200
–
22,221
3,166
Income (loss) from operations
397,549
14,674
(1,498)
410,725
58,528
Interest income
134,605
268
2
134,875
19,220
Interest expense
(34,809)
–
–
(34,809)
(4,960)
Income (loss) before income tax and share of income on equity method
investments
497,345
14,942
(1,496)
510,791
72,788
Income tax expenses
(94,777)
(521)
–
(95,298)
(13,580)
Income (loss) before share of income on equity method investments
402,568
14,421
(1,496)
415,493
59,208
Share of income on equity method investments
33,876
–
–
33,876
4,827
Net income (loss)
436,444
14,421
(1,496)
449,369
64,035
(ii) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
Three months
Ended September 30, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Cost of revenues
2,143
–
–
2,143
305
Research and development
10,533
497
–
11,030
1,573
Sales and marketing
4,774
–
–
4,774
680
General and administrative
26,002
2
–
26,004
3,706
Total cost and expenses
43,452
499
–
43,951
6,264
Hello Group Inc.
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report
(All amounts in thousands, except share and per share data)
Three months
Ended September 30, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Income (loss) from operations
397,549
14,674
(1,498)
410,725
58,528
Share-based compensation
43,452
499
–
43,951
6,264
Non-GAAP income (loss) from
operations
441,001
15,173
(1,498)
454,676
64,792
Net income (loss)
436,444
14,421
(1,496)
449,369
64,035
Share-based compensation
43,452
499
–
43,951
6,264
Non-GAAP net income (loss)
479,896
14,920
(1,496)
493,320
70,299
Hello Group Inc.
Unaudited Condensed Segment Report
(All amounts in thousands, except share and per share data)
Three months
Ended September 30, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$[1]
Net revenues:
Live video service
1,410,844
119,953
–
1,530,797
209,813
Value-added service
1,298,329
168,398
–
1,466,727
201,031
Mobile marketing
24,039
6,666
–
30,705
4,208
Mobile games
7,864
–
–
7,864
1,078
Other services
1,981
–
4,773
6,754
927
Total net revenues
2,743,057
295,017
4,773
3,042,847
417,057
Cost and expenses (iii):
Cost of revenues
(1,606,261)
(145,346)
(19,923)
(1,771,530)
(242,808)
Research and development
(151,649)
(50,044)
–
(201,693)
(27,644)
Sales and marketing
(298,919)
(71,978)
(3,045)
(373,942)
(51,253)
General and administrative
(105,339)
(5,656)
(2,901)
(113,896)
(15,611)
Total cost and expenses
(2,162,168)
(273,024)
(25,869)
(2,461,061)
(337,316)
Other operating income, net
37,750
1,985
236
39,971
5,478
Income (loss) from operations
618,639
23,978
(20,860)
621,757
85,219
Interest income
96,680
94
17
96,791
13,266
Interest expense
(19,293)
–
–
(19,293)
(2,644)
Income (loss) before income tax and share of income on equity
method investments
696,026
24,072
(20,843)
699,255
95,841
Income tax expenses
(156,992)
(1,072)
–
(158,064)
(21,664)
Income (loss) before share of income on equity method
investments
539,034
23,000
(20,843)
541,191
74,177
Share of income on equity method investments
974
–
–
974
133
Net income (loss)
540,008
23,000
(20,843)
542,165
74,310
(iii) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
Three months
Ended September 30, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Cost of revenues
1,207
4
–
1,211
166
Research and development
11,401
3,592
–
14,993
2,055
Sales and marketing
5,854
–
–
5,854
802
General and administrative
37,406
8
–
37,414
5,128
Total cost and expenses
55,868
3,604
–
59,472
8,151
[1] All translations from RMB to U.S. dollars are made at a rate of RMB7.2960 to US$1.00, the effective noon buying rate for September 29, 2023 as set forth in the H.10 statistical release of the
Federal Reserve Board.
Hello Group Inc.
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report
(All amounts in thousands, except share and per share data)
Three months
Ended September 30, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Income (loss) from operations
618,639
23,978
(20,860)
621,757
85,219
Share-based compensation
55,868
3,604
–
59,472
8,151
Non-GAAP income (loss) from
operations
674,507
27,582
(20,860)
681,229
93,370
Net income (loss)
540,008
23,000
(20,843)
542,165
74,310
Share-based compensation
55,868
3,604
–
59,472
8,151
Non-GAAP net income (loss)
595,876
26,604
(20,843)
601,637
82,461
Hello Group Inc.
Unaudited Condensed Segment Report
(All amounts in thousands, except share and per share data)
First nine months
Ended September 30, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Net revenues:
Live video service
3,590,747
237,256
–
3,828,003
545,486
Value-added service
3,573,860
422,102
–
3,995,962
569,420
Mobile marketing
71,397
27,923
–
99,320
14,153
Mobile games
432
–
–
432
62
Other services
1,915
–
843
2,758
393
Total net revenues
7,238,351
687,281
843
7,926,475
1,129,514
Cost and expenses (iv):
Cost of revenues
(4,408,264)
(314,217)
(39)
(4,722,520)
(672,954)
Research and development
(462,202)
(119,539)
–
(581,741)
(82,897)
Sales and marketing
(836,410)
(171,988)
(4,683)
(1,013,081)
(144,363)
General and administrative
(339,578)
(23,744)
(715)
(364,037)
(51,875)
Total cost and expenses
(6,046,454)
(629,488)
(5,437)
(6,681,379)
(952,089)
Other operating income
49,037
1,925
26
50,988
7,266
Income (loss) from operations
1,240,934
59,718
(4,568)
1,296,084
184,691
Interest income
386,340
573
6
386,919
55,136
Interest expense
(91,000)
–
–
(91,000)
(12,967)
Other gain or loss, net
(43,870)
–
–
(43,870)
(6,251)
Income (loss) before income tax and share of income on equity method
investments
1,492,404
60,291
(4,562)
1,548,133
220,609
Income tax expenses
(753,721)
(1,804)
–
(755,525)
(107,661)
Income (loss) before share of income on equity method investments
738,683
58,487
(4,562)
792,608
112,948
Share of income on equity method investments
59,730
–
–
59,730
8,511
Net income (loss)
798,413
58,487
(4,562)
852,338
121,459
(iv) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
First nine months
Ended September 30, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Cost of revenues
5,817
4
–
5,821
829
Research and development
28,496
4,832
–
33,328
4,749
Sales and marketing
15,040
–
–
15,040
2,143
General and administrative
95,874
16
–
95,890
13,664
Total cost and expenses
145,227
4,852
–
150,079
21,385
Hello Group Inc.
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report
(All amounts in thousands, except share and per share data)
First nine months
Ended September 30, 2024
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Income (loss) from operations
1,240,934
59,718
(4,568)
1,296,084
184,691
Share-based compensation
145,227
4,852
–
150,079
21,385
Non-GAAP income (loss) from
operations
1,386,161
64,570
(4,568)
1,446,163
206,076
Net income (loss)
798,413
58,487
(4,562)
852,338
121,459
Share-based compensation
145,227
4,852
–
150,079
21,385
Non-GAAP net income (loss)
943,640
63,339
(4,562)
1,002,417
142,844
Hello Group Inc.
Unaudited Condensed Segment Report
(All amounts in thousands, except share and per share data)
First nine months
Ended September 30, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Net revenues:
Live video service
4,144,164
404,822
–
4,548,986
623,490
Value-added service
3,821,183
506,495
–
4,327,678
593,158
Mobile marketing
75,730
13,032
–
88,762
12,166
Mobile games
14,169
–
–
14,169
1,942
Other services
14,577
–
5,219
19,796
2,713
Total net revenues
8,069,823
924,349
5,219
8,999,391
1,233,469
Cost and expenses (v):
Cost of revenues
(4,765,127)
(469,111)
(21,039)
(5,255,277)
(720,296)
Research and development
(483,997)
(169,148)
–
(653,145)
(89,521)
Sales and marketing
(894,462)
(210,208)
(5,583)
(1,110,253)
(152,173)
General and administrative
(349,614)
(19,600)
(7,767)
(376,981)
(51,670)
Total cost and expenses
(6,493,200)
(868,067)
(34,389)
(7,395,656)
(1,013,660)
Other operating income
95,876
3,110
298
99,284
13,608
Income (loss) from operations
1,672,499
59,392
(28,872)
1,703,019
233,417
Interest income
311,157
656
86
311,899
42,749
Interest expense
(41,671)
–
–
(41,671)
(5,711)
Other gain or loss, net
4,565
–
–
4,565
626
Income (loss) before income tax and share of loss on equity method
investments
1,946,550
60,048
(28,786)
1,977,812
271,081
Income tax expenses
(443,175)
(3,471)
–
(446,646)
(61,218)
Income (loss) before share of loss on equity method investments
1,503,375
56,577
(28,786)
1,531,166
209,863
Share of loss on equity method investments
(31,940)
–
–
(31,940)
(4,378)
Net income (loss)
1,471,435
56,577
(28,786)
1,499,226
205,485
(v) Share-based compensation was allocated in cost of revenues and operating expenses as follows:
First nine months
Ended September 30, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Cost of revenues
4,262
136
–
4,398
603
Research and development
36,793
14,393
–
51,186
7,016
Sales and marketing
20,408
5
–
20,413
2,798
General and administrative
128,856
24
–
128,880
17,664
Total cost and expenses
190,319
14,558
–
204,877
28,081
Hello Group Inc.
Reconciliation of GAAP and NON-GAAP Results of Unaudited Segment Report
(All amounts in thousands, except share and per share data)
First nine months
ended September 30, 2023
Momo
Tantan
QOOL
Total
Total
RMB
RMB
RMB
RMB
US$
Operating income (loss)
1,672,499
59,392
(28,872)
1,703,019
233,417
Share-based compensation
190,319
14,558
–
204,877
28,081
Non-GAAP operating income (loss)
1,862,818
73,950
(28,872)
1,907,896
261,498
Net income (loss)
1,471,435
56,577
(28,786)
1,499,226
205,485
Share-based compensation
190,319
14,558
–
204,877
28,081
Non-GAAP net income (loss)
1,661,754
71,135
(28,786)
1,704,103
233,566
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SIGGRAPH 2026 Unites Global Computer Graphics Community in Los Angeles With Landmark Keynotes, Inaugural Games Summit, and AI Innovation
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48 minutes agoon
July 24, 2026By
Weeklong Conference Celebrates 53 Years of Advancing the State of the Art in Computer Graphics and Interactive Techniques
LOS ANGELES, July 23, 2026 /PRNewswire/ — The 53rd annual SIGGRAPH conference, the world’s premier conference on computer graphics and interactive techniques, brought together thousands of artists, researchers, developers, and industry leaders from around the globe this week at the Los Angeles Convention Center. From an inspiring keynote by legendary Disney Imagineer Lanny Smoot and the debut of the Games Summit to advancements in artificial intelligence (AI), robotics, neural rendering, Gaussian splatting, and immersive storytelling, SIGGRAPH 2026 reaffirmed its role as the global stage where research meets production and ideas shape the future of the field.
SIGGRAPH 2026 welcomed an international audience of more than 9,500 people from 69 countries, alongside a bustling exhibition floor where companies large and small showcased the latest in computer graphics and interactive techniques, products, and services.
“SIGGRAPH 2026 showed what happens when the world’s technical and creative communities share one space. The lines between computer graphics, physics, and AI are blurring, and this week our attendees turned that convergence into new collaborations, research directions, and ways to tell stories,” said SIGGRAPH 2026 Conference Chair Chris Redmann. “From our first Games Summit to a keynote that reminded us invention is a team sport, this conference celebrated the breakthroughs of today while laying the groundwork for the future of our field.”
A highlight of the week came Monday, 20 July, when Disney Research Fellow and Walt Disney Imagineering inventor Lanny Smoot took the keynote stage with “Inventions, Innovations, and Imagination: Lanny Smoot’s Prolific Path”. Smoot, who holds 107 patents and in 2024 became only the second Disney employee after Walt Disney himself to be inducted into the National Inventors Hall of Fame, traced a career spanning more than 45 years, from Bell Labs breakthroughs to beloved Disney Parks innovations including the HoloTile floor and the extendable lightsaber. His message that successful technical practitioners love to create and want to learn from others resonated with a packed house of attendees at the start of the conference week.
Keynote programming continued throughout the week with three standout sponsored sessions. NVIDIA research and engineering leaders Neil Ashton, Ming-Yu Liu, and Edward Liu explored the next era of graphics through neural rendering, world models, and AI-driven simulation. Bolt Graphics founder Darwesh Singh shared his vision for a GPU architecture built for real-time path tracing, and the research team behind Tripo AI examined how generative 3D is redefining how digital worlds are made.
AI ran through nearly every program at SIGGRAPH 2026, positioned not as a replacement for human creativity but as a creative partner. Technical Papers, Technical Workshops, Courses, and Birds of a Feather sessions connected researchers and production artists on generative workflows, differentiable physics, and world models. NVIDIA dedicated a full day to physical AI, presented 21 papers connecting 3D worlds and robot control, and drew industry-wide conversation with a technical deep dive into DLSS 5 neural rendering.
The inaugural Games Summit brought dedicated programming for game developers to SIGGRAPH. Sessions spanned motion sickness accessibility, destruction systems, performance capture pipelines, and cross-industry collaboration through OpenUSD. Robotics also took center stage across the conference, from research in simulation and motion control to the crowd-favorite Robo Dojo, where attendees guided robots through an immersive training ground on the exhibition floor.
In the Experience Hall, five interactive programs: Spatial Storytelling, the Immersive Pavilion, the Art Gallery, and Emerging Technologies, along with the in-person Hands-On Courses track of the Courses program, had attendees step inside the future of interaction and storytelling. Installations spanned AI-driven art, mixed reality sport, embodied robotics, and spatial narratives of wildfire and memory, while lively discussions on Gaussian splatting explored the future of photorealistic virtual reality.
The Computer Animation Festival, an Academy Award® Qualifying Festival for the “Best in Show” prize, celebrated global storytelling in the Electronic Theater, newly expanded in 2026 to include films longer than 10 minutes, opening the festival to a wider range of filmmakers and formats than ever before. Production Sessions took audiences behind the scenes of “Avatar: Fire and Ash” with Wētā FX and Lightstorm Entertainment, NASA’s “Visualizing the Moon for Artemis II”, Disney and Pixar Animation Studios’ “Hoppers”, and Industrial Light & Magic’s work on “The Mandalorian and Grogu”.
SIGGRAPH 2026 also celebrated this year’s contributors by honoring some “best of” from various programs, including:
Art Gallery
Best in Show — “Sternwerk“
Alvaro Cassinelli, City University of Hong Kong, School of Creative Media; and Tobias Klein, City University of Hong Kong and School of Creative Media
Art Papers
Best Art Paper — “Resonance: Meditative Neural Rhythms as Collective Spatial Experience“
Ruipeng Wang and Behnaz Farahi, Massachusetts Institute of Technology (MIT) and Critical Matter Group, Media Lab; and Yuxiang Cheng and Zhiyan Xing, Harvard University and Critical Matter Group, Media Lab
Computer Animation Festival: Electronic Theater
Best in Show: “Apart“
Pola Maneli, Social Popcorn Films (South Africa, United States)
Jury’s Choice — “18 Months“
Paulo Garcia and Natalia Gouvea (United States)
Best Student Project — “Beyond Words“
Antoine Barbannaud, Théo Merlet, Cyril Buisson, Damien Poncelet, Anthonin Haüy, Timothé Vergught, Mathis De Sauvecanne, Thémys Cheynel, Lilou Tiprez, Leandro Leijnen, and Romain Gueusset with Creative Seeds (France)
Audience Choice — “Saba“
Liron Topaz and Lirit Rosenzweig-Topaz (United States)
Emerging Technologies
Best in Show — “EmerFlux: A Two-Layer Liquid Surface Display for Organic Pixel-Based Aesthetic Representation of Information“
Kaito Shimizu and Toshitaka Amaoka, Meisei University
Audience Choice — “EmoMime: Augmenting Social Behavior and Self-Expression via Wearable Robotic Limbs“
Hideki Shimobayashi, Masaharu Hirose, and Masahiko Inami, RCAST, The University of Tokyo; Tomoya Sasaki, Tokyo University of Science and RCAST, The University of Tokyo; and Arata Horie, RCAST, The University of Tokyo and commissure Inc.
Immersive Pavilion
Best in Show — “Cosmos Unseen: Black Holes“
Marcus Moresby, Aditi Rajagopal, Bhaumik Patel, and Mark Lynch, Atlantic Studios
Real-Time Live!
Best in Show — “Create Interactive 3D Assets in Seconds!“
Ying-Tian Liu, Yuan-Chen Guo, Yumeng Li, Yu-Lin Tsai, and Yan-Pei Cao, VAST; Hanxiao Wang, Institute of Automation, Chinese Academy of Sciences and VAST; and Yi-Hua Huang, The University of Hong Kong (HKU) and VAST
Audience Choice — “Dissectible Anatomy: Embodied Exploration for Education“
Tim McGraw and Jack Myers, Purdue University
Technical Papers
Best Paper Awards
“GimmBO: Interactive Generative Image Model Merging via Bayesian Optimization”
Chenxi Liu and Selena Ling, University of Toronto; and Alec Jacobson, University of Toronto and Vector Institute
“Mixwell: Sharp 2D Fluid Brushes for Progressive Physics-Based Mixing“
Doug James, Stanford University; and Ethan James
“Walk on Decomposed Subdomains: A Hybrid Monte Carlo-Deterministic Solver for Elliptic PDEs“
Clément Jambon, Mohammad Sina Nabizadeh, and Mina Konaković Luković, Massachusetts Institute of Technology (MIT)
“Robust Planar Maps for 3D Vectorization“
Robert Fuchs, Carnegie Mellon University; and Keenan Crane, Carnegie Mellon University and Roblox
“Inverse Rendering for Discrete X-Ray Computed Tomography“
Lovro Nuic, Ziyi Zhang, and Wenzel Jakob, Ecole Polytechnique Fédérale de Lausanne; Korbinian Sager, Carl Zeiss AG
Looking ahead, the global computer graphics community will reconvene for SIGGRAPH 2027, the 54th annual conference, taking place 8–12 August 2027 in Anaheim, California, led by SIGGRAPH 2027 Conference Chair and Walt Disney Imagineer Kristy Pron. For the latest conference news and updates, visit siggraph.org.
About ACM, ACM SIGGRAPH, and SIGGRAPH 2026
ACM, the Association for Computing Machinery, is the world’s largest educational and scientific computing society, uniting educators, researchers, and professionals to inspire dialogue, share resources, and address the field’s challenges. ACM SIGGRAPH is a special interest group within ACM that serves as an interdisciplinary community for members in research, technology, and applications in computer graphics and interactive techniques. The SIGGRAPH conference is the world’s leading annual interdisciplinary educational experience showcasing the latest in computer graphics and interactive techniques. SIGGRAPH 2026, the 53rd annual conference hosted by ACM SIGGRAPH, will take place live 19–23 July at the Los Angeles Convention Center.
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SOURCE SIGGRAPH 2026
Technology
Lyntris Inc. Announces Filing of Registration Statement for Proposed Initial Public Offering
Published
48 minutes agoon
July 24, 2026By
WASHINGTON, July 23, 2026 /PRNewswire/ — Lyntris Inc. (“Lyntris”), a defense technology company providing “sense-to-act” connectivity solutions for the modern, connected battlespace, has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to a proposed initial public offering of shares of its common stock. Certain of Lyntris’s existing stockholders identified in the registration statement are also expected to sell shares of common stock in the proposed offering. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size, price or other terms of the offering.
Evercore ISI, Citigroup and Guggenheim Securities are acting as lead book-running managers for the proposed offering. BofA Securities is also acting as a joint book-running manager for the proposed offering. Baird, Raymond James and William Blair are acting as bookrunners for the proposed offering. Lyntris has applied to list its common stock on the New York Stock Exchange under the ticker symbol “LYNX”.
The proposed offering will be made only by means of a prospectus. When available, copies of the registration statement and the preliminary prospectus included therein may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov or may also be obtained from: Evercore ISI, Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone: (888) 474-0200 or by email: ecm.prospectus@evercore.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone: (800) 831-9146; and Guggenheim Securities, LLC, Attention: Equity Syndicate, 330 Madison Avenue, New York, New York 10017 or by email: gsequityprospectusdelivery@guggenheimpartners.com.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Lyntris
Lyntris is a defense technology company delivering “sense-to-act” connectivity solutions for the modern, connected battlespace. Combining differentiated hardware, software and mission expertise, Lyntris helps customers to detect threats earlier, decide faster and act with precision in contested, multi-domain environments.
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SOURCE Lyntris
Technology
TELUS transforms legacy telecommunications site into 195 new homes for Nanaimo
Published
48 minutes agoon
July 24, 2026By
Across Canada, demand for rental housing continues to outpace supply. TELUS Living is helping address this challenge by transforming existing TELUS properties into smart, sustainable homes in communities where new housing is needed most.
NANAIMO, BC, July 23, 2026 /CNW/ — TELUS Living today opened a new 195-home purpose-built rental community in downtown Nanaimo, transforming a former telecommunications property into smart, sustainable housing that helps address one of Canada’s most pressing challenges: increasing rental supply in growing communities. Located at 235 Wallace St, the multi-storey, mixed-use build features 195 purpose-built rental units, providing much-needed housing supply to downtown Nanaimo, while thoughtfully honouring the city’s unique coastal identity and heritage.
The Nanaimo development is part of TELUS’ long-term strategy to repurpose legacy telecommunications infrastructure into purpose-built rental housing as the company modernizes its network and completes the transition from copper to PureFibre technology. The Nanaimo community joins TELUS Living’s growing portfolio of developments that are transforming underutilized TELUS properties into housing across Canada.
“The Nanaimo development represents exactly what TELUS Living stands for by providing purpose-built rental housing tailored to the specific needs of the community it serves. We’ve designed 235 Wallace St with Nanaimo’s unique character in mind, offering a curated lifestyle that blends a climate-conscious, Zero Carbon Design approach with top-tier wellness and smart-tech amenities,” said Manasweeta Bhatia, Vice President of Corporate Real Estate at TELUS. “We shape every TELUS Living project by listening to the community, understanding its unique identity and design needs, and building accordingly. Its central downtown location and proximity to both Vancouver Island University and Nanaimo Regional General Hospital also position it as an ideal home for students, educators, and healthcare workers seeking modern, connected living.”
“More housing and good jobs are a win-win for downtown Nanaimo,” said Sheila Malcolmson, MLA for Nanaimo-Gabriola Island. “Adding to the approximately 1,500 affordable homes our B.C. government has completed and underway in Nanaimo, it’s great to see TELUS stepping up with 195 new units. It’s been great to see hundreds of construction and indirect jobs in town, and I can’t wait to see folks move into their new homes.”
“I’m thrilled to see a new rental option in downtown Nanaimo, and especially excited that this conversion was made with sustainability and active transportation in mind,” said George Anderson, MLA for Nanaimo-Lantzville. “Ensuring everyone can find homes they can afford in the communities they love requires creative approaches, and I hope to see more creativity like this in the future.”
“I’m delighted to celebrate the opening of TELUS Living Nanaimo, a landmark project that strengthens our downtown as a vibrant, inclusive place to live,” said Leonard Krog, Mayor of Nanaimo. “This partnership between the City of Nanaimo, our community, and TELUS demonstrates what’s possible when we work together toward shared goals. The addition of nearly 200 diverse housing options is exactly what our city needs, and we’re excited about the positive impact this will have on our community. TELUS’ commitment to our city and investment in our future will contribute to Nanaimo’s economic and social vitality.”
Situated within walking distance of downtown’s vibrant cafes, eclectic Old City Quarter, the iconic Harbourfront Walkway, and a short transit ride from Vancouver Island University and Nanaimo Regional General Hospital, the development is architecturally designed to blend classic and contemporary exterior elements. Curated for modern living, the community offers an expansive suite of indoor and outdoor social amenities alongside street-level retail and public art contributions.
Project Highlights:
Smart-Enabled Living: Powered by the TELUS PureFibre network, the custom TELUS Living App provides keyless entry, smart climate control, leak detection, parcel notifications, visitor management, and amenity bookings.Social & Wellness Amenities: Features a rooftop deck with an outdoor kitchen, BBQs, and panoramic views, alongside a state-of-the-art fitness centre and resident lounge.Pet & Active Lifestyle Ready: Equipped with a dedicated children’s outdoor play area, outdoor bark park and pet care station, secure underground parking, bike storage and maintenance facilities.Premium Functional Interiors: Studio to three-bedroom layouts include private balconies, individual A/C with Energy Recovery Ventilators (ERVs) for optimal air quality, Samsung SmartThings appliances, and in-suite laundry.Gold-Standard Sustainability: Sets a Vancouver Island benchmark aligned with Zero Carbon Design standards and Salmon-Safe development guidelines that actively protects local ecosystems.
This opening marks a significant milestone in TELUS Living’s mission to transform existing real estate holdings into purpose-built rentals that bridge the housing gap with smart, sustainable, and community-focused developments. As TELUS completes its transition from legacy copper to advanced fibre networks, the company is transforming its historic central offices–which once served as the backbone of B.C.’s phone system–into vibrant, smart, purpose-built rental communities. TELUS Living is breathing new life into these properties to help address Canada’s housing crisis. For more details on TELUS Living Nanaimo or to view available floor plans, please visit telusliving.com/nanaimo.
About TELUS
TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over $20 billion in annual revenue with more than 17 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. TELUS Health is enhancing approximately 170 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. TELUS Agriculture & Consumer Goods utilizes digital technologies and data insights to optimize the connection between producers and consumers. TELUS Digital specializes in digital customer experiences and future-focused digital transformations that deliver value for their global clients. Guided by our enduring ‘give where we live’ philosophy, TELUS continues to invest in initiatives that support education, health and community well-being. In 2023, we launched the TELUS Student Bursary, which strives to ensure that every young person in Canada who wants a postsecondary education has the opportunity to pursue one. To date, the program has distributed over $6 million in bursaries to 2,000 students and counting. Since 2000, TELUS, our team members and retirees have contributed $1.85 billion in cash, in-kind contributions, time and programs, including 2.5 million days of service–earning TELUS the distinction of the world’s most giving company.
For more information, visit telus.com.
For more information, please contact:
Brandi Rees
TELUS Public Relations
brandi.rees@telus.com
SOURCE TELUS Communications Inc.
SIGGRAPH 2026 Unites Global Computer Graphics Community in Los Angeles With Landmark Keynotes, Inaugural Games Summit, and AI Innovation
Lyntris Inc. Announces Filing of Registration Statement for Proposed Initial Public Offering
TELUS transforms legacy telecommunications site into 195 new homes for Nanaimo
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