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Lam Research Corporation Reports Financial Results for the Quarter Ended March 30, 2025

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1 year ago

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FREMONT, Calif., April 23, 2025 /PRNewswire/ — Lam Research Corporation (the “Company,” “Lam,” “Lam Research”) today announced financial results for the quarter ended March 30, 2025 (the “March 2025 quarter”).

Highlights for the March 2025 quarter were as follows:

Revenue of $4.72 billion.U.S. GAAP gross margin of 49.0%, U.S. GAAP operating income as a percentage of revenue of 33.1%, and U.S. GAAP diluted EPS of $1.03.Non-GAAP gross margin of 49.0%, non-GAAP operating income as a percentage of revenue of 32.8%, and non-GAAP diluted EPS of $1.04.

Key Financial Data for the Quarters Ended

March 30, 2025 and December 29, 2024

(in thousands, except per-share data, percentages, and basis points) 

 

U.S. GAAP

March 2025

December 2024

Change Q/Q

Revenue

$                4,720,175

$                4,376,047

+ 8 %

Gross margin as percentage of revenue

49.0 %

47.4 %

+ 160 bps

Operating income as percentage of revenue

33.1 %

30.5 %

+ 260 bps

Diluted EPS

$                          1.03

$                          0.92

+ 12 %

Non-GAAP

March 2025

December 2024

Change Q/Q

Revenue

$                4,720,175

$                4,376,047

+ 8 %

Gross margin as percentage of revenue

49.0 %

47.5 %

+ 150 bps

Operating income as percentage of revenue

32.8 %

30.7 %

+ 210 bps

Diluted EPS

$                          1.04

$                          0.91

+ 14 %

 

U.S. GAAP Financial Results

For the March 2025 quarter, revenue was $4,720 million, gross margin was $2,314 million, or 49.0% of revenue, operating expenses were $752 million, operating income was 33.1% of revenue, and net income was $1,331 million, or $1.03 per diluted share on a U.S. GAAP basis. This compares to revenue of $4,376 million, gross margin of $2,073 million, or 47.4% of revenue, operating expenses of $739 million, operating income of 30.5% of revenue, and net income of $1,191 million, or $0.92 per diluted share, for the quarter ended December 29, 2024 (the “December 2024 quarter”).

Non-GAAP Financial Results

For the March 2025 quarter, non-GAAP gross margin was $2,312 million, or 49.0% of revenue, non-GAAP operating expenses were $763 million, non-GAAP operating income was 32.8% of revenue, and non-GAAP net income was $1,336 million, or $1.04 per diluted share. This compares to non-GAAP gross margin of $2,077 million, or 47.5% of revenue, non-GAAP operating expenses of $735 million, non-GAAP operating income of 30.7% of revenue, and non-GAAP net income of $1,175 million, or $0.91 per diluted share, for the December 2024 quarter.

“Lam’s portfolio is the most compelling it’s ever been, driving opportunities to expand our addressable market, gain share, and deliver innovative services as deposition and etch intensity increases in the production of advanced semiconductors,” said Tim Archer, Lam Research’s President and Chief Executive Officer. “Our outlook remains strong even as we address near-term tariff-related uncertainty, and we are highly confident in our ability to outperform semiconductor industry growth in the years to come.”

Balance Sheet and Cash Flow Results

Cash, cash equivalents, and restricted cash balances decreased to $5.5 billion at the end of the March 2025 quarter compared to $5.7 billion at the end of the December 2024 quarter. The decrease was primarily the result of cash deployed for capital return activities, principal payment on debt instruments, and capital expenditures during the quarter, partially offset by cash generated from operating activities.

Deferred revenue at the end of the March 2025 quarter decreased to $2,011 million compared to $2,032 million as of the end of the December 2024 quarter. Lam’s deferred revenue balance does not include shipments to customers in Japan, to whom control does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $587 million as of March 30, 2025 and $453 million as of December 29, 2024.

Revenue

The geographic distribution of revenue during the March 2025 quarter is shown in the following table:

Region

Revenue

China

31 %

Korea

24 %

Taiwan

24 %

Japan

10 %

United States

4 %

Southeast Asia

4 %

Europe

3 %

The following table presents revenue disaggregated between system and customer support-related revenue:

Three Months Ended

March 30,
2025

December 29,
2024

March 31,
2024

(In thousands)

Systems revenue

$              3,035,276

$              2,625,649

$              2,395,817

Customer support-related revenue and other

1,684,899

1,750,398

1,397,741

$              4,720,175

$              4,376,047

$              3,793,558

 

Systems revenue includes sales of new leading-edge equipment in deposition, etch, clean and other wafer fabrication markets.

Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.

Outlook

For the quarter ended June 29, 2025, Lam is providing the following guidance: 

U.S. GAAP

Reconciling
Items

Non-GAAP

Revenue

$5.00 Billion

+/-

$300 Million

—

$5.00 Billion

+/-

$300 Million

Gross margin as a percentage of revenue

49.4 %

+/-

1 %

$   2.7

Million

49.5 %

+/-

1 %

Operating income as a percentage of revenue

33.4 %

+/-

1 %

$   3.2

Million

33.5 %

+/-

1 %

Net income per diluted share

$1.20

+/-

$0.10

$   3.7

Million

$1.20

+/-

$0.10

Diluted share count

1.28 Billion

—

1.28 Billion

 

The information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, restructuring, balance sheet valuation adjustments, financing arrangements, other investments, or other significant arrangements that may be completed or realized after the date of this release, except as described below. U.S. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:

Gross margin as a percentage of revenue – amortization related to intangible assets acquired through business combinations, $2.7 million.Operating income as a percentage of revenue – amortization related to intangible assets acquired through business combinations, $3.2 million.Net income per diluted share – amortization related to intangible assets acquired though business combinations, $3.2 million; amortization of debt discounts, $0.7 million; and associated tax benefit for non-GAAP items ($0.2 million); totaling $3.7 million.

Use of Non-GAAP Financial Results

In addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company’s non-GAAP results for both the March 2025 and December 2024 quarters exclude amortization related to intangible assets acquired through business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, and the net income tax effect of non-GAAP items. Additionally, the non-GAAP results for the December 2024 quarter exclude the income tax benefit from a change in tax law.

Management uses non-GAAP gross margin, operating expense, operating income, operating income as a percentage of revenue, net income, and net income per diluted share to evaluate the Company’s operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors’ ability to view the Company’s results from management’s perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company’s website at https://investor.lamresearch.com.

Caution Regarding Forward-Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating income and net income; our opportunities, including with respect to our addressable market, share and delivery of services; trends with respect to deposition and etch intensity in semiconductor production; the strength of our outlook; our ability to address the impacts of tariff-related uncertainty; the duration of tariff-related uncertainty; our confidence in our outlook; our relative performance compared the future performance of the industry; and the prospects for future industry growth. Some factors that may affect these forward-looking statements include: business, economic, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; supply chain cost increases, tariffs and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 30, 2024, and our quarterly report on Form 10-Q for the fiscal quarter ended December 29, 2024. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam’s equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)

Consolidated Financial Tables Follow.

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data and percentages)

(unaudited) 

Three Months Ended

Nine Months Ended

March 30,
2025

December 29,
2024

March 31,
2024

March 30,
2025

March 31,
2024

Revenue

$   4,720,175

$   4,376,047

$   3,793,558

$ 13,264,198

$  11,033,879

Cost of goods sold

2,406,489

2,303,066

1,977,820

6,874,848

5,783,087

Restructuring charges, net – cost of goods sold

—

—

15,202

—

38,099

Total cost of goods sold

2,406,489

2,303,066

1,993,022

6,874,848

5,821,186

Gross margin

2,313,686

2,072,981

1,800,536

6,389,350

5,212,693

Gross margin as a percent of revenue

49.0 %

47.4 %

47.5 %

48.2 %

47.2 %

Research and development

525,904

494,947

512,274

1,516,209

1,404,615

Selling, general and administrative

226,023

244,150

215,904

713,301

651,770

Restructuring charges, net – operating expenses

—

—

15,246

—

18,955

Total operating expenses

751,927

739,097

743,424

2,229,510

2,075,340

Operating income

1,561,759

1,333,884

1,057,112

4,159,840

3,137,353

Operating income as a percent of revenue

33.1 %

30.5 %

27.9 %

31.4 %

28.4 %

Other income (expense), net

(25,035)

14,262

36,073

19,308

68,513

Income before income taxes

1,536,724

1,348,146

1,093,185

4,179,148

3,205,866

Income tax expense

(206,057)

(157,128)

(127,359)

(541,019)

(398,376)

Net income

$   1,330,667

$   1,191,018

$      965,826

$   3,638,129

$  2,807,490

Net income per share:

Basic

$             1.04

$             0.93

$             0.74

$             2.82

$            2.13

Diluted

$             1.03

$             0.92

$             0.73

$             2.81

$            2.12

Number of shares used in per share calculations:

Basic

1,283,779

1,287,109

1,308,382

1,290,041

1,316,627

Diluted

1,288,100

1,291,469

1,315,178

1,294,545

1,322,819

Cash dividend declared per common share

$             0.23

$             0.23

$             0.20

$             0.69

$            0.60

 

 LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

March 30,
2025

December 29,
2024

June 30,
2024

(unaudited)

(unaudited)

(1)

ASSETS

Cash and cash equivalents

$         5,450,718

$         5,665,379

$         5,847,856

Accounts receivable, net

3,228,182

3,304,946

2,519,250

Inventories

4,463,275

4,358,152

4,217,924

Prepaid expenses and other current assets

318,147

284,370

298,190

Total current assets

13,460,322

13,612,847

12,883,220

Property and equipment, net

2,372,203

2,313,590

2,154,518

Goodwill and intangible assets

1,795,248

1,761,021

1,765,073

Other assets

2,340,537

2,152,458

1,941,917

Total assets

$       19,968,310

$       19,839,916

$       18,744,728

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current portion of long-term debt and finance lease obligations

$            754,306

$            504,136

$            504,814

Other current liabilities

4,735,539

4,846,160

3,833,624

Total current liabilities

5,489,845

5,350,296

4,338,438

Long-term debt and finance lease obligations

3,730,034

4,478,148

4,478,520

Income taxes payable

690,660

669,747

813,304

Other long-term liabilities

546,666

533,699

575,012

Total liabilities

10,457,205

11,031,890

10,205,274

Stockholders’ equity (2)

9,511,105

8,808,026

8,539,454

Total liabilities and stockholders’ equity

$       19,968,310

$       19,839,916

$       18,744,728

(1)

Derived from audited financial statements.

(2)

Common shares issued and outstanding were 1,282,957 as of March 30, 2025, 1,284,956 as of December 29, 2024, and 1,303,769 as of June 30, 2024.

 

LAM RESEARCH CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

Three Months Ended

Nine Months Ended

March 30,
2025

December 29,
2024

March 31,
2024

March 30,
2025

March 31,
2024

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$         1,330,667

$         1,191,018

$            965,826

$         3,638,129

$         2,807,490

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

97,343

96,200

89,922

287,838

271,342

Deferred income taxes

(19,992)

(82,854)

(24,621)

(211,568)

(137,606)

Equity-based compensation expense

87,115

81,959

76,854

249,085

213,966

Other, net

1,654

(8,592)

10,210

(7,395)

14,242

Changes in operating assets and liabilities

(188,124)

(535,789)

266,645

(337,013)

620,405

Net cash provided by operating activities

1,308,663

741,942

1,384,836

3,619,076

3,789,839

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures and intangible assets

(288,058)

(188,349)

(103,654)

(586,995)

(295,922)

Net maturities and sales of available-for-sale securities

—

—

14,650

—

37,766

Other, net

(4,857)

12,974

(3,356)

8,154

(10,845)

Net cash used for investing activities

(292,915)

(175,375)

(92,360)

(578,841)

(269,001)

CASH FLOWS FROM FINANCING ACTIVITIES:

Principal payments on debt, including finance lease
obligations and payments for debt issuance costs

(504,037)

(1,032)

(1,060)

(506,003)

(255,155)

Treasury stock purchases, including excise tax payments

(435,321)

(697,688)

(980,561)

(2,130,044)

(2,469,257)

Dividends paid

(295,716)

(297,634)

(262,707)

(854,335)

(757,453)

Reissuance of treasury stock related to employee stock purchase plan

—

60,557

—

60,557

53,081

Proceeds from issuance of common stock, net issuance costs

1,993

(194)

8,235

1,756

12,757

Other, net

526

761

300

963

(5,672)

Net cash used for financing activities

(1,232,555)

(935,230)

(1,235,793)

(3,427,106)

(3,421,699)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

2,380

(26,022)

(8,452)

(960)

(12,758)

Net change in cash, cash equivalents, and restricted cash

(214,427)

(394,685)

48,231

(387,831)

86,381

Cash, cash equivalents, and restricted cash at beginning of period (1)

5,677,399

6,072,084

5,625,522

5,850,803

5,587,372

Cash, cash equivalents, and restricted cash at end of period (1)

$         5,462,972

$         5,677,399

$         5,673,753

$         5,462,972

$         5,673,753

(1)

Restricted cash is reported within Other assets in the Condensed Consolidated Balance Sheets

 

Non-GAAP Financial Summary

(in thousands, except percentages and per share data)

(unaudited)

Three Months Ended

March 30,
2025

December 29,
2024

Revenue

$        4,720,175

$        4,376,047

Gross margin

$        2,312,391

$        2,077,151

Gross margin as percentage of revenue

49.0 %

47.5 %

Operating expenses

$           763,336

$           734,501

Operating income

$        1,549,055

$        1,342,650

Operating income as a percentage of revenue

32.8 %

30.7 %

Net income

$        1,336,006

$        1,175,000

Net income per diluted share

$                 1.04

$                 0.91

Shares used in per share calculation – diluted

1,288,100

1,291,469

 

Reconciliation of U.S. GAAP Net Income to Non-GAAP Net Income

(in thousands, except per share data)

(unaudited) 

Three Months Ended

March 30,
2025

December 29,
2024

U.S. GAAP net income

$           1,330,667

$           1,191,018

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations – cost of goods sold

2,687

2,817

Elective deferred compensation (“EDC”) related liability valuation (decrease) increase – cost of goods sold

(3,982)

1,353

EDC related liability valuation (decrease) increase – research and development

(7,168)

2,432

Amortization related to intangible assets acquired through certain business combinations – selling, general and
administrative

538

538

EDC related liability valuation (decrease) increase – selling, general and administrative

(4,779)

1,626

Amortization of note discounts – other income (expense), net

759

772

Loss (gain) on EDC related asset – other income (expense), net

16,903

(4,502)

Net income tax expense (benefit) on non-GAAP items

381

(276)

Income tax benefit from a change in tax law

—

(20,778)

Non-GAAP net income

$           1,336,006

$           1,175,000

Non-GAAP net income per diluted share

$                    1.04

$                    0.91

U.S. GAAP net income per diluted share

$                    1.03

$                    0.92

U.S. GAAP and non-GAAP number of shares used for per diluted share calculation

1,288,100

1,291,469

 

Reconciliation of U.S. GAAP Gross Margin, Operating Expenses and Operating Income to Non-GAAP Gross Margin,
Operating Expenses and Operating Income

(in thousands, except percentages)

(unaudited) 

Three Months Ended

March 30,
2025

December 29,
2024

U.S. GAAP gross margin

$        2,313,686

$        2,072,981

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

2,687

2,817

EDC related liability valuation (decrease) increase

(3,982)

1,353

Non-GAAP gross margin

$        2,312,391

$        2,077,151

U.S. GAAP gross margin as a percentage of revenue

49.0 %

47.4 %

Non-GAAP gross margin as a percentage of revenue

49.0 %

47.5 %

U.S. GAAP operating expenses

$           751,927

$           739,097

Pre-tax non-GAAP items:

Amortization related to intangible assets acquired through certain business combinations

(538)

(538)

EDC related liability valuation decrease (increase)

11,947

(4,058)

Non-GAAP operating expenses

$           763,336

$           734,501

U.S. GAAP operating income

$        1,561,759

$        1,333,884

Non-GAAP operating income

$        1,549,055

$        1,342,650

U.S. GAAP operating income as percent of revenue

33.1 %

30.5 %

Non-GAAP operating income as a percent of revenue

32.8 %

30.7 %

 

Lam Research Corporation Contacts:
Ram Ganesh, Investor Relations, phone: 510-572-1615, e-mail: investor.relations@lamresearch.com

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SOURCE Lam Research Corporation

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Technology

HydraForce, Elevāt, and Bosch Rexroth Announce Enhanced Remote OTA Update Capabilities for Off-Highway Equipment

Published

17 minutes ago

on

July 23, 2026

By

SEATTLE, July 23, 2026 /PRNewswire/ — Building on their strategic collaboration, HydraForce, a global leader in motion control systems and Elevāt, an industrial IoT and applied AI platform provider, announced a significant advancement in remote machine management.

The HydraForce Connected Control Unit (CCU) from Bosch, integrated with Elevāt software, is now capable of providing remote access and performing over-the-air (OTA) updates on Bosch Rexroth BODAS controllers.

This enhanced capability empowers HydraForce and Elevāt customers to streamline operations, reduce downtime, and significantly improve machine performance and serviceability. By leveraging the integrated solution, OEMs can use the Elevāt platform to remotely diagnose issues and deploy critical software updates to the BODAS controllers on their equipment without requiring on-site service personnel.

“The ability to remotely access and update Bosch Rexroth BODAS controllers using the Elevāt platform takes our collaborative vision of bridging hydraulics, electronics, and digital services to the next level,” said Russ Schneidewind, director of business developmentat at HydraForce.  “The cooperation between Elevāt and Bosch Rexroth is directly addressing the industry’s need for complete, future-ready solutions.”

Adam Livesay, co-founder and CEO of Elevāt, commented, “At Elevāt, we believe the future of equipment service is connected, intelligent, and proactive. This collaboration helps OEMs deliver the next generation of service by  accelerating software deployment and enabling faster issue resolution in the field. The addition of remote BODAS controller updates is another key milestone toward a fully integrated ecosystem that simplifies the connection between hardware, software, and digital services—helping manufacturers bring intelligent equipment to market faster while creating new opportunities for recurring customer value.”

HydraForce and Elevāt plan to further their collaboration with additional remote machine management capabilities to be announced in the future.

About HydraForce HydraForce is a global designer and manufacturer of motion control systems, encompassing hydraulic cartridge valves, manifolds and electronic controls for a variety of off-highway industries, including farming, construction, marine, material handling, mining, and forestry. HydraForce was acquired by Bosch Rexroth, becoming a significant part of the Compact Hydraulics Business Unit. Bosch Rexroth and HydraForce combine their presence in complementary regions to provide comprehensive coverage in Europe and North America, while enabling growth in Asia.

About Bosch Rexroth As one of the world’s leading suppliers of drive and control technologies, Bosch Rexroth ensures efficient, powerful and safe movement in machines and systems of any size. The company bundles global application experience in the market segments of Mobile and Industrial Applications as well as Factory Automation. With its intelligent components, customized system solutions, engineering and services, Bosch Rexroth is creating the necessary environment for fully connected applications. Bosch Rexroth offers its customers hydraulics, electric drive and control technology, gear technology and linear motion and assembly technology, including software and interfaces to the Internet of Things. With locations in over 80 countries, around 31,900 associates generated sales revenue of 6.5 billion euros in 2025.  To learn more, please visit www.boschrexroth.com.

About Bosch Having established a presence in North America in 1906, today the Bosch Group employs around 38,000 associates in more than 100 locations in the North American region (as of Dec. 31, 2024). According to preliminary figures, Bosch generated consolidated sales of $18.7 billion in the U.S., Mexico and Canada in 2025. For more information visit www.bosch.us, www.bosch.mx and www.bosch.ca. The Bosch Group is a leading global supplier of technology and services. It employs roughly 412,000 associates worldwide (as of December 31, 2025). According to preliminary figures, the company generated sales of 91 billion euros in 2025. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. With its business activities, the company aims to use technology to help shape universal trends such as automation, electrification, digitalization, connectivity, and an orientation to sustainability. In this context, Bosch’s broad diversification across regions and industries strengthens its innovativeness and robustness. Bosch uses its proven expertise in sensor technology, software, and services to offer customers cross-domain solutions from a single source. It also applies its expertise in connectivity and artificial intelligence in order to develop and manufacture user-friendly, sustainable products. With technology that is “Invented for life,” Bosch wants to help improve quality of life and conserve natural resources. The Bosch Group comprises Robert Bosch GmbH and its roughly 490 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. Bosch’s innovative strength is key to the company’s further development. At 136 locations across the globe, Bosch employs some 82,000 associates in research and development. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-four percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a limited liability company with a charitable purpose. The remaining shares are held by Robert Bosch GmbH and by a company owned by the Bosch family. The majority of voting rights are held by Robert Bosch Industrietreuhand KG. It is entrusted with the task of safeguarding the company’s long-term existence and in particular its financial independence – in line with the mission handed down in the will of the company’s founder, Robert Bosch. Additional information is available online at www.bosch-press.com, www.bosch.com.

About Elevāt Elevāt is a leading industrial IoT and applied AI platform purpose-built for off-highway OEMs. Elevāt enables manufacturers to connect machines, unlock actionable intelligence, and deliver next-generation digital services across the entire equipment lifecycle. Additional information is available online at www.getelevat.com

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SOURCE Elevat, Inc

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FutureSports launches as new index provider transforming sports statistics into tradable financial instruments

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July 23, 2026

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Backed by leading financial and sports institutions, firm will leverage partnerships to bring critical new hedging vehicles to sports ecosystem

CHICAGO, July 23, 2026 /PRNewswire/ — FutureSports, the new independent index administrator transforming professional and college sports statistics into rules-based, benchmark financial indexes, today announced its emergence from stealth. Backed by a broad range of leading financial and sports institutions, FutureSports in the coming months will announce a series of partnerships, collaborations and products that will bring significant new risk management and trading opportunities to the massive ecosystem supporting the most popular sports.

FutureSports previously raised a seed investment round co-led by Marquee Ventures, spun out of the ownership group of the Chicago Cubs. Major financial industry leaders joined the round, including CME Ventures (the corporate venture capital division of CME Group), Robinhood Markets, Inc., WEDBUSH and DRW Special Investments (an investment arm of DRW). Other investors include Motivate VC, Phoenix Capital Ventures, and John and Linda Henry (Fenway Sports Group).

The company also announced the addition of industry experts to its board of directors, including Chairman Mark Wassersug, longtime Chief Operating & Information Officer of Intercontinental Exchange (ICE); Tim McCourt, Senior Managing Director, Global Head of Equity, FX, and Alternative Products at CME Group, and Erik Hammer, Managing Partner at Marquee Ventures.

The firm will soon unveil its first series of exclusive partnerships with major sports leagues, paving the way for institutional investors and companies in and around the sports industry to manage their risk in an unprecedented fashion and participate in regulated, tradable, broad-based index futures contracts based on team and athlete statistical performance. FutureSports creates rules-based financial indexes, known as FutureSports Performance Indexes (FSPI), that accurately represent the performance of teams and athletes in prominent sports leagues. By utilizing transparent, rules-based methodologies based on officially reported statistical outcomes, the company creates continuous values designed to underpin tradable financial products, such as listed derivatives, exchange-traded funds (ETFs) and over-the-counter (OTC) swaps.

Potential market participants will include league broadcasting partners, team and athlete sponsors and endorsers, insurers, stadium owners and operators, private equity investors, lenders, and apparel manufacturers. Asset managers, pension funds and professional trading firms are expected to participate in the contracts and contribute to liquidity in this new uncorrelated asset class. Retail investors will also be able to participate in the first-of-their-kind trading vehicles, which the company expects to capture the interest of sophisticated traders looking for more traditional financial trading instruments

Leigh Taylforth, FutureSports Co-Founder, said: “The global sporting industry generates $650 billion a year, yet there has been no liquid, robust opportunity to hedge the extensive and varied industry risks that range from weather events, to injuries, to unanticipated behavior issues and more. That is about to change. We’ve been truly gratified to see the interest our business has generated within the sports and sports-adjacent industries and the quality of investors we have attracted already.”

Rhett Dinsdale, FutureSports Co-Founder, said: “Up until today, we have been operating in stealth mode while developing our products and establishing key relationships that we expect to be fundamental to our success as we move forward. The recent rise in popularity of prediction markets has only reinforced the concept we created several years ago, that sports as an asset class has huge utility within the sports and entertainment industries, with indexes serving as key institutional instruments to manage risk. What is sorely needed is the type of reliable data and financial instruments that institutional investors have leveraged for so long within the regulated derivatives industry, and we’re excited to bring these to market.”

The Executive team includes Co-Founders Taylforth and Dinsdale, who each have more than 20 years of experience in derivatives trading for market makers, investment banks and hedge funds, along with:

Dave Abbott, Chief Technology Officer – formerly Managing Director at Sportradar;Steve Byrd, Head of Partnerships – formerly Chief Operating Officer (COO) at STATS LLC & Chief Commercial Officer at Sportradar US;Jodie Gunzberg, Head of Index Services – formerly Managing Director at S&P Dow Jones Indices, Morgan Stanley & CoinDesk;Tom Jenkins, Head of Business Development – formerly Head of Index Partnerships & Strategy at FTSE Russell;Josh Kravitt, Head of Operations – formerly Director at CME Ventures;Sunny Modi, Head of Product – formerly Head of BI at Ardent Leisure Group;Mike Philipp, Chief Legal & Strategy Officer – formerly partner at Morgan, Lewis & Bockius LLP;Charlie Thornton, Chief Regulatory Affairs Officer – formerly Chief of Staff and COO at the U.S. Commodity Futures Trading Commission (CFTC).

About FutureSports

Under development since 2022 and launched in 2026, Chicago-based FutureSports has created a proprietary index methodology for measuring on-field, on-ice and on-court performance for a range of professional sporting teams and athletes. Partnering with many of the most recognizable sports leagues and financial market participants, FutureSports transforms live, play-by-play statistical data into rules-based, benchmark indexes that may be referenced by exchange-listed financial products. The indexes are designed to serve the same benchmarking function as the leading equity, commodity and fixed income indexes utilized every day across major global exchanges to track performance and hedge risk in the financial markets. For more information, visit www.futuresports.com.

 

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SOURCE FutureSports

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Capital Group Canada Launches Three Active Equity ETFs on TSX

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July 23, 2026

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The ETF suite now includes five active equity ETFs and two active fixed income ETFs designed to sit at the core of investment portfolios

TORONTO, July 23, 2026 /CNW/ — Capital International Asset Management (Canada), Inc. (“Capital Group Canada”) has launched three new active exchange-traded funds (ETFs) that begin trading on the Toronto Stock Exchange (TSX) today. The three equity strategies are designed to give options for investors looking to diversify their portfolios with non-domestic exposures including U.S., international and developed market securities.  

The new active ETFs are:

CAPU – Capital Group U.S. Equity Select ETF (Canada): Seeks long-term growth of capital and income through investments primarily in common stocks of U.S. issuers.CAPN – Capital Group International Developed Equity Select ETF (Canada): Seeks to provide prudent growth of capital through investments primarily in equity securities of issuers in developed markets outside North America. CAPQ – Capital Group Global Developed Equity Select ETF (Canada): Seeks to provide prudent growth of capital through investments primarily in equity securities of issuers in developed markets.

“As demand for ETFs continues to grow, our expanded lineup gives investors more ways to access Capital Group’s distinctive active investment approach, including our deep research capabilities and multiple portfolio manager system,” said Rick Headrick, president of Capital Group Canada. “As one of the world’s largest active investment managers with over 90 years of experience, we are able to share the benefits of our global scale and offer competitively priced active ETFs designed to sit at the core of an investor’s portfolio.”

“Clients tell us they are looking beyond borders for opportunities to build diversified portfolios,” said Angela Shim, head of product and development at Capital Group Canada. “The three equity strategies expand Capital Group Canada’s core offerings in U.S., international, and global equities, giving investors flexible solutions that can help them navigate global markets and stay focused on their long-term investment goals.”

The three ETFs closed their initial offering of units on July 22, 2026.

The additions expand Capital Group Canada’s ETF lineup to seven, building on a prior launch of two equity and two fixed income ETFs. Details of Capital Group Canada’s full suite of active ETFs can be found here.

About Capital Group

Capital International Asset Management (Canada), Inc. is part of Capital Group, a global investment management firm originating in Los Angeles, California. As Capital Group approaches its 100th anniversary in 2031, its long-term strategy remains firmly rooted in its mission to improve people’s lives through successful investing. With over 9,000 associates and 34 offices around the world, Capital Group manages US$3.6 trillion in assets for millions of wealth management and institutional clients around the world*.

*As of June 30, 2026.

For more information, visit: www.capitalgroup.com/ca/en

SOURCE Capital Group Canada

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