Technology
Fathom Holdings Reports First Quarter 2025 Results
Published
12 months agoon
By
– Fathom achieved a 32% year-over-year revenue increase in the first quarter, beating analyst expectations by 12% –
CARY, N.C., May 13, 2025 /PRNewswire/ — Fathom Holdings Inc. (Nasdaq: FTHM) (“Fathom” or the “Company”), a national, technology-driven, end-to-end real estate services platform integrating residential brokerage, mortgage, title, and SaaS offerings for brokerages and agents, today reported financial results for the first quarter ended March 31, 2025.
“Fathom achieved a 32% year-over-year revenue increase in the first quarter, beating analyst expectations by 12%,” said Marco Fregenal, CEO of Fathom Holdings. “We also increased our agent network by 22% and closed transactions increased by 26% over Q1 2024.”
“Although we expect 2025 to remain challenging for the real estate industry, we expect Fathom’s positive momentum to continue. We are, in fact, currently expecting to be EBITDA positive in Q2 of 2025. Our mission remains steadfast: to build a best-in-class, technology-driven platform that empowers agents, streamlines transactions, and delivers long-term value for our shareholders. We are confident these efforts will foster ongoing success, even in a dynamic market environment. We are focused on driving higher gross profit from ancillary services, increased efficiencies in the My Home Group operation, and higher margins from the recently launched Elevate program.”
During the first quarter, Fathom successfully launched its innovative “Elevate” program, a concierge-level initiative designed to significantly enhance agent productivity, transaction efficiency, and overall profitability. Elevate offers agents a powerful suite of services, including comprehensive marketing, lead generation and conversion, dedicated transaction support, personalized coaching, recruiting assistance, and priority customer service.
“We believe Elevate will enhance agent growth by helping agents increase their business as they become more productive. More importantly, we anticipate the program will significantly enhance long-term profitability by increasing gross profit per transaction,” Fregenal added. “Our goal is to ramp up the program to 100 new agents per month by Q4 of 2025.”
First Quarter 2025 Financial Results
Fathom’s total revenue increased 32.1% to $93.1 million for the first quarter of 2025, up from $70.5 million in the first quarter of 2024.Brokerage revenue increased by 35.9% to $88.9 million for the first quarter of 2025, up from $65.4 million in the first quarter of 2024.Mortgage revenue increased 13% to $2.6 million for the first quarter of 2025, up from $2.3 million in the first quarter of 2024.Title revenue increased 43% to $1.0 million for the first quarter of 2025, up from $0.7 million in the first quarter of 2024.Gross profit increased 13% to $8.1 million for the first quarter of 2025, up from $7.2 million in the first quarter of 2024.
First Quarter 2025 Operational Highlights
Fathom’s real estate agent network grew 22.8% to approximately 14,715 agent licenses at March 31, 2025, up from approximately 11,986 agent licenses at March 31, 2024.Fathom’s real estate transactions grew 26% to approximately 9,715 in the first quarter of 2025, up from approximately 7,703 transactions in the first quarter of 2024.Successfully launched the Elevate program.On March 10, 2025, the Company issued and sold shares of its common stock to certain investors and members of the Company’s Board in a registered direct offering (the “2025 Offering”). The cash proceeds to the Company from the issuance of the shares of common stock in the 2025 Offering were approximately $2.7 million after deducting the offering expenses.
Segment revenue for the 2025 first quarter, compared with the 2024 first quarter was as follows:
Revenue
Three months ended
March 31,
(Revenue $ in millions)
2025
2024
UNAUDITED
Real Estate Brokerage
$ 88.9
$ 65.4
Mortgage
2.6
2.3
Technology
1.1
1.1
Corporate and other services (a)
0.5
1.7
Total revenue
$ 93.1
$ 70.5
(a)
Transactions between segments are eliminated in consolidation. Such amounts are eliminated through the Corporate and other services line.
GAAP net loss for the 2025 first quarter was $5.6 million, or $0.24 per share, compared with a loss of $5.9 million, or $0.31 per share, for the 2024 first quarter. This decrease was primarily due to a reduction in agent recruiting commissions.
General and Administrative expense totaled $8.6 million for the 2024 first quarter, or 9.3% of revenue, compared with $9.0 million or 12.8% of revenue for the first quarter of 2024. This was primarily due to our continued focus on reducing expenses.
Driven by many of the factors discussed above, Adjusted EBITDA loss, a non-GAAP measure, was relatively constant at $1.5 million in the first quarter of 2025 compared with an Adjusted EBITDA loss of approximately $1.5 million for the 2024 first quarter. Fathom is committed to achieving and remaining Adjusted EBITDA positive moving forward.
Fathom provides Adjusted EBITDA, a non-GAAP financial measure, because it offers additional information for monitoring the Company’s cash flow performance. A table providing a reconciliation of Adjusted EBITDA to its most comparable GAAP measure, as well as an explanation of, and important disclosures about, this non-GAAP measure, is included in the tables at the end of this press release.
Guidance/Long-Term Targets
Given the initial success of Elevate, the Company has elected to temporarily suspend guidance while it works with its newly formed Strategy Committee of the Board of Directors to forecast 2025.
Conference Call
Fathom management will hold a conference call today (May 13, 2025) at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss these financial results.
Toll Free: 888-506-0062
International: 973-528-0011
Passcode: 518591 or ‘Fathom Holdings’
Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization.
A live audio webcast of the conference call will be available in listen-only mode simultaneously and available via the investor relations section of the Company’s website at www.FathomInc.com.
A telephone replay of the call will be available through May 27, 2025.
Toll Free: 877-481-4010
International: 919-882-2331
Replay Passcode: 52105
About Fathom Holdings Inc.
Fathom Holdings Inc. is a national, technology-driven, real estate services platform integrating residential brokerage, mortgage, title, and SaaS offerings to brokerages and agents by leveraging its proprietary cloud-based software, intelliAgent. The Company’s brands include Fathom Realty, Encompass Lending, intelliAgent, LiveBy, Real Results, Verus Title, and Cornerstone. For more information, visit www.FathomInc.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements” that involve risks and uncertainties which we expect will or may occur in the future and may impact our business, financial condition and results of operations. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including: risks associated with general economic conditions, including rising interest rates; its ability to generate positive operational cash flow; risks associated with the Company’s ability to continue achieving significant growth; its ability to continue its growth trajectory while achieving profitability over time; risks related to ongoing and future litigation; and other risks as set forth in the Risk Factors section of the Company’s most recent Form 10-K as filed with the SEC and supplemented from time to time in other Company filings made with the SEC. Copies of Fathom’s Form 10-K and other SEC filings are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Contact:
Dave Gentry, CEO
RedChip Companies, Inc. 1-407-644-4256
FTHM@redchip.com
FATHOM HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share data)
Three Months Ended
March 31,
2025
2024
UNAUDITED
Revenue
$ 93,135
$ 70,503
Commission and service costs
85,047
63,637
General and administrative
8,647
9,000
Marketing
1,370
1,201
Technology and development
1,937
1,590
Litigation contingency
4
—
Depreciation and amortization
554
728
Loss from operations
(4,424)
(5,653)
Other expense (income), net
Interest expense, net
156
105
Other nonoperating expense
1,049
152
Other expense, net
1,205
257
Loss before income taxes
(5,629)
(5,910)
Income tax expense
17
17
Net loss
$ (5,646)
$ (5,927)
Net loss per share:
Basic
$ (0.24)
$ (0.31)
Diluted
$ (0.24)
$ (0.31)
Weighted average common shares outstanding:
Basic
23,407,905
19,178,474
Diluted
23,407,905
19,178,474
The accompanying notes are an integral part of the condensed consolidated financial statements.
FATHOM HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
March 31,
2025
December 31,
2024
(UNAUDITED)
ASSETS
Current assets:
Cash and cash equivalents
$ 7,976
$ 7,127
Restricted cash
195
263
Accounts receivable
3,133
3,147
Other receivable – current
3,000
4,000
Mortgage loans held for sale, at fair value
9,508
4,772
Prepaid and other current assets
6,962
5,647
Total current assets
30,774
24,956
Property and equipment, net
1,783
1,854
Lease right of use assets
4,370
3,781
Intangible assets, net
19,561
20,234
Goodwill
21,498
21,498
Other receivable – long-term
3,000
3,000
Other assets
31
74
Total assets
$ 81,017
$ 75,397
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$ 5,199
$ 4,305
Accrued and other current liabilities
5,862
4,894
Warehouse lines of credit
9,269
4,556
Lease liability – current portion
1,483
1,237
Long-term debt – current portion
4,158
4,389
Total current liabilities
25,971
19,381
Lease liability, net of current portion
3,818
3,522
Long-term debt, net of current portion
5,086
5,087
Other long-term liabilities
2,727
2,726
Total liabilities
37,602
30,716
Commitments and contingencies (Note 18)
Stockholders’ equity:
Common stock (no par value)
—
—
Additional paid-in capital
142,224
137,844
Accumulated deficit
(98,809)
(93,163)
Total stockholders’ equity
43,415
44,681
Total liabilities and stockholders’ equity
$ 81,017
$ 75,397
The accompanying notes are an integral part of the condensed consolidated financial statements.
FATHOM HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(in thousands)
Three Months Ended March 31,
2025
2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
$ (5,646)
$ (5,927)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization
1,440
1,480
Non-cash lease expense
357
529
Deferred financing cost amortization
25
—
Gain on sale of mortgages
(1,491)
(1,215)
Stock-based compensation
1,506
2,652
Deferred income taxes
1
5
Change in operating assets and liabilities:
Accounts receivable
15
356
Prepaid and other current assets
(315)
(901)
Other assets
43
8
Accounts payable
893
434
Accrued and other current liabilities
1,089
1,112
Operating lease liabilities
(404)
(566)
Mortgage loans held for sale originations
(54,687)
(49,598)
Proceeds from sale and principal payments on mortgage loans held for sale
51,441
50,684
Net cash used in operating activities
(5,733)
(947)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment
(25)
(1)
Purchase of intangible assets
(670)
(534)
Amounts paid for business and asset acquisitions, net of cash acquired
(120)
—
Other investing activities
—
—
Net cash used in investing activities
(815)
(535)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on debt
(257)
(148)
Deferred acquisition consideration payments
—
(83)
Borrowings from warehouse lines of credit
54,959
49,440
Repayment on warehouse lines of credit
(50,247)
(49,277)
Proceeds from the issuance of common stock in connection with a public offering
3,043
—
Payment of offering cost in connection with issuance of common stock in connection with public offering
(169)
(28)
Net cash provided by (used in) financing activities
7,329
(96)
Net increase (decrease) in cash, cash equivalents, and restricted cash
782
(1,578)
Cash, cash equivalents, and restricted cash at beginning of period
7,389
7,540
Cash, cash equivalents, and restricted cash at end of period
$ 8,171
$ 5,962
Supplemental disclosure of cash and non-cash transactions:
Cash paid for interest
$ 90
$ 90
Right of use assets obtained in exchange for new lease liabilities
$ 946
$ 1,284
Reconciliation of cash and restricted cash:
Cash and cash equivalents
$ 7,976
$ 5,682
Restricted cash
195
280
Total cash, cash equivalents, and restricted cash shown in statement of cash flows
$ 8,171
$ 5,962
The accompanying notes are an integral part of the condensed consolidated financial statements.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(UNAUDITED)
(in thousands)
Three Months Ended
March 31,
2025
2024
Net loss
$ (5,646)
$ (5,927)
Stock based compensation
1,506
2,652
Depreciation and amortization
1,440
1,480
Litigation contingency
4
—
Other expense, net
1,205
257
Income tax expense
17
17
Adjusted EBITDA
$ (1,474)
$ (1,521)
Note about Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use Adjusted EBITDA, a non-GAAP financial measure, to understand and evaluate our core operating performance. This non-GAAP financial measure, which may be different than similarly titled measures used by other companies, is presented to enhance investors’ overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
We define the non-GAAP financial measure of Adjusted EBITDA as net income (loss), excluding other expense, income tax benefit, depreciation and amortization, share-based compensation expense, gain on sale of business benefit, NAR related litigation contingency expenses and transaction-related cost.
We believe that Adjusted EBITDA provides useful information about our financial performance, enhances the overall understanding of our past performance and future prospects, and allows for greater transparency with respect to a key metric used by our management for financial and operational decision-making. We believe that Adjusted EBITDA helps identify underlying trends in our business that otherwise could be masked by the effect of the expenses that we exclude in Adjusted EBITDA. In particular, we believe the exclusion of share-based compensation expense related to restricted stock awards and stock options and transaction-related costs associated with our acquisition activity provides a useful supplemental measure in evaluating the performance of our operations and provides better transparency into our results of operations. Adjusted EBITDA also excludes other income and expense, net which primarily includes nonrecurring items, such as, gain on debt extinguishment, gain on sale of business, severance costs, and non-cash items representing reserves on certain agent fee collection, if applicable.
We are presenting the non-GAAP measure of Adjusted EBITDA to assist investors in seeing our financial performance through the eyes of management, and because we believe this measure provides an additional tool for investors to use in comparing our core financial performance over multiple periods with other companies in our industry.
Adjusted EBITDA should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. There are a number of limitations related to the use of Adjusted EBITDA compared to net income (loss), the closest comparable GAAP measure. Some of these limitations are that:
Adjusted EBITDA excludes share-based compensation expense related to restricted stock awards, restricted stock unit awards, and stock options, which have been, and will continue to be for the foreseeable future, significant recurring expenses in our business and an important part of our compensation strategy;Adjusted EBITDA excludes transaction-related costs primarily consisting of professional fees and any other costs incurred directly related to acquisition activity, which is an ongoing part of our growth strategy and therefore likely to occur;Adjusted EBITDA excludes certain recurring, non-cash charges such as depreciation and amortization of property and equipment and capitalized software costs, however, the assets being depreciated and amortized may have to be replaced in the future;Adjusted EBITDA excludes the gain on the sale of the business, as this item is non-recurring and not indicative of the company’s core operating performance; andAdjusted EBITDA excludes NAR related litigation expenses, which could continue to be significant recurring expenses in our business until a final settlement has been approved by the court.
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SOURCE Fathom Holdings Inc.
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BTQ provides strategic advisory support and QSSN as core PQC security infrastructure for the iM Bank initiative on the Kaia mainnet, advancing post-quantum migration across global financial infrastructure
BTQ has been selected as the core post-quantum cryptography security technology provider for South Korea’s first bank-led KRW stablecoin proof-of-concept, delivering its Quantum Secure Stablecoin Settlement Network (“QSSN”) for the initiative.
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VANCOUVER, BC, May 6, 2026 /PRNewswire/ – BTQ Technologies Corp. (“BTQ” or the “Company”) (Nasdaq: BTQ) (CBOE CA: BTQ), a global quantum technology company focused on securing mission-critical networks, today announced that it it has been selected as the core PQC security technology provider through its Quantum Secure Stablecoin Settlement Network (“QSSN”) in a proof-of-concept with its Korean strategic partner, Finger Inc. (“Finger”), and iM Bank, a leading Korean commercial bank, for South Korea’s first bank-led Korean won stablecoin infrastructure incorporating post-quantum cryptography (“PQC”).
The proof-of-concept represents more than a technical pilot. It marks an important step in bringing next-generation quantum security into banking infrastructure within Korea’s regulated financial system. In addition to providing QSSN as the core PQC security framework, BTQ is contributing consulting and strategic coordination across the three-way partnership, helping align the project’s security architecture, implementation approach, and long-term post-quantum migration objectives.
“Post-quantum migration requires more than a cryptographic upgrade. It requires coordination across infrastructure, implementation, and institutional stakeholders,” said Olivier Roussy Newton, Chief Executive Officer of BTQ Technologies. “In this initiative, BTQ is providing both strategic advisory support and QSSN as the post-quantum security architecture, while helping lead coordination across the three-way partnership. We believe this proof-of-concept demonstrates how financial institutions can begin integrating quantum-resilient protections into digital money systems in a practical and operationally viable way.”
South Korea’s First Bank-Led PQC Stablecoin Infrastructure Initiative
BTQ is working alongside iM Bank and Finger on a three-way initiative to validate the issuance and distribution infrastructure for a Korean won stablecoin. In addition to supplying QSSN as the PQC security layer, BTQ is providing consulting support and helping to guide coordination across the partnership as the parties evaluate how to integrate post-quantum protections into bank-led digital asset infrastructure.
The proof-of-concept will validate several key components, including real-time reconciliation between bank reserves and blockchain-issued supply, a global-standard smart contract architecture, connectivity to global infrastructure for overseas distribution, and the integration of a PQC-based dual-signature security structure. By applying BTQ’s PQC signature architecture alongside the existing ECDSA cryptographic framework, the system is designed to preserve operational continuity for financial institutions while proactively addressing future quantum computing threats.
Built on Kaia Mainnet
A notable feature of the proof-of-concept is that it will be implemented on the Kaia mainnet, one of Korea’s leading Layer 1 blockchain networks. Kaia was created through the merger of Klaytn, the blockchain originally developed by Kakao, and Finschia, the blockchain associated with LINE. Kakao and LINE sit at the center of two of the largest messaging and digital platform ecosystems in Korea and Japan, respectively, making Kaia a significant piece of regional digital infrastructure.
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QSSN as the Security Layer
The PQC security foundation for the initiative is BTQ’s Quantum Secure Stablecoin Settlement Network, or QSSN, a quantum-secure network architecture designed for stablecoin, tokenized deposit, payment, and digital asset infrastructure. QSSN is designed to protect critical issuer functions, including stablecoin issuance, burning, transfer authority, upgrade control, and administrative permissions, by integrating PQC-based signatures while maintaining existing user experience and operational workflows.
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Addressing the Harvest-Now, Decrypt-Later Risk
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About iM Bank
iM Bank is a South Korean commercial bank and a subsidiary of DGB Financial Group. Headquartered in Daegu, iM Bank presents itself as a financial companion for customers and traces its roots to Daegu Bank, which was established in 1967 as Korea’s first regional bank. For more information, please visit https://www.imbank.co.kr/
About Finger Inc. Group
Finger supplies and develops financial IT solutions to provide optimized money management strategies for employees and corporate customers. Providing “Smartphone Financial Services”, “Corporate Cash Management Services” for businesses, “Private Wealth Management Services” for private consumers.
Since the year 2000, Finger has accumulated a number of awards and patents regarding its businesses. Based on its Mobile Enterprise Application Platform(MEAP) Orchestra and its funds management system using screen-scrapping technologies, Finger was the first company in Korea to deliver a smartphone banking banking-service. For more information, please visit http://www.finger.co.kr/
About BTQ
BTQ Technologies Corp. (Nasdaq: BTQ | Cboe CA: BTQ) is a quantum technology company focused on accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio and deep technical expertise, BTQ is advancing a full-stack, neutral-atom quantum computing platform spanning hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense.
Connect with BTQ: Website | LinkedIn | X/Twitter
ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as “anticipate”, “intend”, “expect”, “plan” or “may” and the variations of these words are intended to identify forward-looking statements and information.
The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company’s research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.
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For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.
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Media
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614-284-1926
646-531-6115
troy.kirkpatrick@zimmerbiomet.com
david.demartino@zimmerbiomet.com
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781-779-5561
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ST. LOUIS, May 6, 2026 /PRNewswire/ — NextLadder Ventures, a new fund backed by more than $1 billion in capital, today announced its priority investment areas for building a new market for “Navigation Technology” (NavTech) — tools that provide Americans with personalized solutions to navigate life’s challenges and achieve greater economic mobility — and announced its co-founding team, including two new senior hires.
The fund’s active focus areas are based on extensive research identifying the key experiences and high-stakes decision points that have an outsized impact on American families’ economic mobility. Launched investment areas include financial health, career navigation, and benefits and social services access, with further exploration underway around housing, legal aid, justice and re-entry, and mental and physical health.
The organization is also today welcoming two senior leaders: Lauren Loktev is joining NextLadder as Managing Director of Investments and Brigitte Hoyer Gosselink as Managing Director of Product. Loktev was most recently a partner at the Collaborative Fund, where she backed several breakout companies in early child development, education, and sustainability. Gosselink comes to NextLadder from Google, where she led the company’s AI and social impact portfolio. They join a growing team which has deep expertise at the intersection of economic mobility, technology, public policy, and philanthropy.
NextLadder’s Focus Areas for Investment
Today, the fund is kicking off a plan to deploy $1 billion over the next seven years to accelerate the design, development, and deployment of accessible NavTech tools that aim to help families more successfully navigate the major life experiences that determine whether they get ahead or fall behind. As NextLadder’s inaugural frontier AI lab partner, Anthropic is supporting the build-out of the organization’s AI-native capabilities and is offering technical assistance to NextLadder’s portfolio organizations.
As an increasing proportion of Americans across income levels find themselves overextended and overwhelmed, NavTech tools are designed to help individuals and families understand their options, connect to information and resources, and take action to recover from a setback or take advantage of an opportunity and reclaim their economic futures.
“Life is getting harder, and too many Americans are stuck facing some of the most complex and consequential moments of their lives without much support,” said Ryan Rippel, CEO of NextLadder Ventures. “Every day, millions in this country face fork-in-the-road decisions that have major implications on whether they climb up the economic ladder or fall farther behind. AI has understandably intensified many Americans’ anxieties about their jobs and their security in the economy. But these technologies are now also making it possible to deliver highly personalized, affordable tools to meet the needs of tens of millions of Americans in a way that has never been practically achievable or financially viable before. With NavTech tools, built for the reality of families’ everyday experiences, we can empower Americans to overcome setbacks, navigate life’s toughest financial decisions, and build more secure futures.”
NavTech tools, built with the needs of individuals, families, and trusted community partners at the center of their design, have the potential to ease burdens most acutely faced by 90 million Americans who live in households that have difficulty in paying for usual home expenses, and turbocharge the capacity of the 1.6 million community workers in non-profit or local, state, and federal government roles who serve them. This growing category of digital technologies includes tools that help families access opportunities such as personalized financial advice and legal aid, get connected with available resources and programs, and manage unexpected hurdles like losing a job or facing an eviction – while freeing social workers and service providers to spend more time on people and less time on red tape and paperwork.
The fund’s active investment areas include:
Financial Health: Developing highly personalized, AI-powered financial health tools that can provide tailored, sustained counsel to help users build savings and protect and recover from financial shocks;
Career Navigation: Building tools to support career navigation, manage and support career transitions, and help workers, case managers, and employers identify pathways to living wage work — all designed to help people successfully find the right jobs for them.
Benefits & Social Services Access: Helping eligible Americans seamlessly identify and enroll in all the benefits and social services available to them, particularly those that support career navigation and transitions, help them navigate critical life moments, and achieve stability toward economic opportunity.
NextLadder is exploring additional focus areas, including housing, legal aid, justice and re-entry, caregiving, and mental and physical health. More on the organization’s vision of these focus areas is available HERE.
In addition to backing direct NavTech solutions, NextLadder is investing in the developers, partners, and standards required to build a durable, self-sustaining market. Across all focus areas, the fund is prioritizing efforts to ensure NavTech tools are reliable, protect users’ privacy, and are trusted by the families who depend on them.
NextLadder’s Co-Founder Leadership Team
NextLadder’s five co-founders will be CEO Ryan Rippel, Chief Strategy and Operations Officer Rhett Dornbach-Bender, Chief of Staff Callie Schwartz, and the two new senior hires: Managing Director of Investments Lauren Loktev and Managing Director of Product Brigitte Hoyer Gosselink, rounding out the fund’s expertise in investing, technology, and impact.
“We’re thrilled to welcome Lauren and Brigitte to the NextLadder team,” said Rippel. “Brigitte has spent her career proving that when applied purposefully, AI and technology can deliver meaningful benefits for communities, and she’ll set the bar for what NavTech tools can deliver for American families today and in the years to come. And with her deep experience backing mission-driven founders, Lauren is the perfect leader to build our venture practice from the ground up and accelerate the growth of the NavTech field. With this team in place, we’re positioned to make NavTech tools easier to build, fund, and access so they reach the people who need them most.”
Loktev brings 15 years of venture capital experience investing at the intersection of for-profit and for-good. Most recently at Collaborative Fund, she backed several companies to significant scale and launched Collab+Sesame, a first-of-its-kind thematic seed fund in partnership with Sesame Workshop focused on early childhood education. At NextLadder, she will build and lead the fund’s venture practice, sourcing and scaling investments in the founders building the next generation of NavTech tools.
“We have a once in a generation opportunity to help steer AI solutions toward those who need them most,” said Loktev. “Many amazing, accomplished founders see this too, and they are on a mission to build scalable, transformative businesses in the critical verticals that help people navigate life-changing moments. I couldn’t be more excited to join NextLadder and to support the most inspiring leaders building this market from the ground up. Thanks to our unique, long-term mandate, we can be creative and flexible in investing across stage and check size to partner with the entrepreneurs and leaders we believe will change the world.”
Prior to her role at NextLadder, Gosselink spent over a decade at Google in several roles including Director of AI and Social Impact, directing more than $500 million in funding for organizations applying AI to address challenges including crisis response, education, and economic opportunity. At NextLadder, she will lead AI and product strategy across the fund’s portfolio, backing solutions and setting market-wide standards for how NavTech tools are designed, evaluated, and improved over time.
“If we collectively harness the AI transformation strategically and purposefully, we can transform the way Americans are empowered to access greater economic mobility,” said Gosselink. “We believe that people-centered products, combined with shifts in the market and the services available to families, can fundamentally reshape how millions of Americans navigate critical moments and achieve prosperity on their own terms.”
To request interviews from the NextLadder Ventures leadership team, contact media@nextladder.com.
About NextLadder Ventures
NextLadder Ventures is a time-bound venture with one goal: empower millions of Americans to reach their potential by 2040. Backed by over $1 billion in capital, the organization invests in breakthrough technologies that remove barriers to economic success and put people in control of their futures. NextLadder Ventures is trailblazing a new market for tech-enabled Navigation Technology tools that help people access the resources they need to navigate pivotal moments — offering flexible, risk-tolerant capital to entrepreneurs building these transformative tools today, while creating a pipeline of tech, talent, and capital for the long run.
SOURCE NextLadder Ventures
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