Technology

Scienjoy Holding Corporation Reports Fiscal Year 2025 Financial Results

Published

5 months ago

April 23, 2026

BEIJING, April 23, 2026 /PRNewswire/ — Scienjoy Holding Corporation (“Scienjoy”, the “Company”, or “we”) (NASDAQ: SJ), a leader in interactive entertainment in China, today announced its financial results for the year ended December 31, 2025.

Fiscal Year 2025 Operating and Financial Summaries

Total revenues decreased to RMB1,241.6 million (US$177.5 million) for the year ended December 31, 2025 from RMB1,363.4 million for the year ended December 31, 2024.

Gross profit decreased to RMB227.2 million (US$32.5 million) for the year ended December 31, 2025 from RMB245.4 million for the year ended December 31, 2024.

Loss from operations was RMB78.9 million (US$11.3 million) for the year ended December 31, 2025, as compared to an income from operations of RMB40.7 million for the year ended December 31, 2024.

Net loss was RMB595.0 million (US$85.1 million) for the year ended December 31, 2025, as compared to a net income of RMB26.7 million for the year ended December 31, 2024.

Net loss attributable to the Company’s shareholders was RMB587.1 million (US$84.0 million) for the year ended December 31, 2025, as compared to a net income attributable to the Company’s shareholders of RMB39.7 million for the year ended December 31, 2024.

Adjusted net loss attributable to the Company’s shareholders was RMB579.6 million (US$82.9 million) for the year ended December 31, 2025, as compared to adjusted net income attributable to the Company’s shareholders of RMB50.3 million for the year ended December 31, 2024.

As of December 31, 2025, the Company had cash and cash equivalent balance of RMB307.7 million (US$44.0 million), which represented an increase of RMB55.1 million from RMB252.5 million as of December 31, 2024.

Note on Net Loss for Fiscal Year 2025

The net loss of RMB595.0 million (US$85.1 million) reported for the year ended December 31, 2025 was primarily driven by several major non-cash accounting items amounting to RMB712.3 million (US$101.9 million) that had no impact on the Company’s cash and liquidity position or its ability to continue as a going concern. These major items include provisions for credit losses, impairment of goodwill and intangible assets.

Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy, commented, “2025 was a year of continued execution and strategic progress for Scienjoy. Our live streaming business, given our recent global expansion, continues to be profitable which demonstrates the resilience of our core operations. At the same time, we are accelerating our AI strategy. Building on our AIGC foundation with AI Vista, we are expanding into agentic AI with AI Vista Live!, which serves both B2C and B2B markets. AI Vista enables real-time, interactive AI performers for consumers while also providing scalable enterprise solutions across multiple industries. Supported by strong underlying financial performance and a solid cash position, we are well positioned for future growth and deliver long-term value to our shareholders.”

Mr. Denny Tang, Chief Financial Officer of Scienjoy, added, “In the fourth quarter of 2025, we conducted a review of our assets and recorded certain non-cash impairment provisions which did not impact our core operations or cash flow. Apart from these accounting effects, we believe our business remains strong, supported by our core operations and continued Average Revenue Per Paying User (ARPPU) growth. Additionally, our cash and cash equivalents increased by 21.8% during the year, reflecting our operationally-driven capability to sustain on-going business operations and support planned expansion. With a healthy balance sheet, we are well positioned to support continued investment in AI innovation and global expansion.”

Fiscal Year 2025 Financial Results

Total revenues decreased to RMB1,241.6 million (US$177.5 million) for the year ended December 31, 2025 from RMB1,363.4 million for the year ended December 31, 2024 primarily caused by a decrease of paying users due to the increasing competitive landscape of China’s mobile live streaming market. Total paying users were 383,695 for the year ended December 31, 2025, compared to 494,652 for the year ended December 31, 2024.

Cost of revenues decreased to RMB1,014.5 million (US$145.1 million) for the year ended December 31, 2025 from RMB1,117.9 million for the year ended December 31, 2024. The decrease was primarily attributable to a decrease of RMB128.3 million in the Company’s revenue sharing fees, offset by an increase of RMB23.4 million in the Company’s user acquisition costs.

Gross profit decreased to RMB227.2 million (US$32.5 million) for the year ended December 31, 2025 from RMB245.4 million for the year ended December 31, 2024. Gross margins increased to 18.3% for the year ended December 31, 2025 from 18.0% in the year ended December 31, 2024 due to higher average live streaming revenue per paying user (“ARPPU”) during the year ended December 31, 2025, demonstrating the Company’s effectiveness in converting high-quality paying user to its profit growth.

Total operating expenses increased by 49.5% to RMB306.1 million (US$43.8 million) for the year ended December 31, 2025 from RMB204.7 million for the year ended December 31, 2024.

Sales and marketing expenses decreased to RMB6.4 million (US$0.9 million) for the year ended December 31, 2025 from RMB7.0 million for the year ended December 31, 2024, primarily attributable fewer sales and marketing activities.

General and administrative expenses increased by 16.1% to RMB89.0 million (US$12.7 million) for the year ended December 31, 2025 from RMB76.6 million for the year ended December 31, 2024. The increase was primarily due to an increase of RMB12.4 million in professional consulting fees.

Research and development expenses decreased to RMB83.4 million (US$11.9 million) for the year ended December 31, 2025 from RMB90.5 million for the year ended December 31, 2024, due to a decrease of RMB9.0 million in employee salary and welfare and a decrease of RMB1.3 million in share-based compensation, offset by an increase of RMB4.1 million in technical service fee.

Provision for credit losses increased by 316.2% to RMB127.3 million (US$18.2 million) for the year ended December 31, 2025 from RMB30.6 million for the year ended December 31, 2024. Given the regulatory and tax policy changes in China for the livestreaming industry starting in the second half of the financial year ended 2025 and increasing credit risk of our third-party virtual currency distributors in the livestreaming industry, we provided additional allowances for credit losses for third-party virtual currency distributors we deem as high risk and with delinquent accounts. As a result, our provision for credit loss increased to RMB127.3 million (US$18.2 million) for the year ended December 31, 2025 from RMB30.6 million for the year ended December 31, 2024. The facts and circumstances of each third-party virtual currency distributors account may require the Company to use substantial judgment in assessing its collectability. The Company will continue to periodically review allowances and make necessary adjustments accordingly.

Loss from operations was RMB78.9 million (US$11.3 million) for the year ended December 31, 2025, as compared to an income from operations of RMB40.7 million for the year ended December 31, 2024.

Change in fair value of investment in marketable security was a loss of RMB29.1 million (US$4.2 million) for the year ended December 31, 2025, as compared to a gain of RMB6.1 million for the year ended December 31, 2024. The change was attributable to the fair value changes in investments in publicly traded companies.

Investment income increased to RMB8.7 million (US$1.2 million) for the year ended December 31, 2025, as compared to investment loss of RMB5.7 million for the year ended December 31, 2024. The increase in investment income was attributable to share of unrealized gain in long-term investments.

Impairment of long-term investments was nil for the year ended December 31, 2025, as compared to RMB10.4 million for the year ended December 31, 2024.

Interest income decreased to RMB1.7 million (US$0.2 million) for the year ended December 31, 2025 from RMB3.2 million for the year ended December 31, 2024. The decrease was primarily due to a lower interest rate environment relative to previous periods.

Impairment for goodwill During the fourth quarter of 2025, as a part of its annual impairment assessment, the Company assessed its internal forecast along with several events and circumstances that could affect the significant inputs used to determine the fair value of the Company’s reporting unit, including the significance of the amount, if any, of excess carrying value over fair value, consistency of the Company’s current and forecasted operating margins and cash flows, budgeted-to-actual performance, timing of the expected effects of the Company’s strategic initiatives, overall change in economic climate, changes in the industry and competitive environment, changes to the Company’s risk-adjusted discount rates and earnings quality and sustainability. After considering all available evidence in the evaluation of goodwill impairment indicators including but not limited to regulatory and tax policy changes in China for the livestreaming industry starting in the second half of 2025, a significant decrease in paying users for the year ended December 31, 2025, and a continuous decline in the Company’s operating income during the second half of 2025, the Company determined it appropriate to perform the quantitative assessment of the Company as of December 31, 2025. The quantitative impairment test involves the use of significant estimates and assumptions to evaluate the impact of operational and economic changes on each reporting unit. The Company estimates the fair value using the income valuation approach with assistance of a third-party valuation firm. The income approach applies a fair value methodology to the single reporting unit based on discounted cash flows. This analysis requires significant estimates and judgments, including (i) the estimation of future revenue, projected gross profit margins, projected operating costs, projected operating income margins, and projected capital expenditures, which are dependent on internal cash flow forecasts; and (ii) determination of the risk-adjusted discount rates. As a result of such goodwill impairment test, the Company recorded a full impairment of RMB186.2 million (US$26.6 million) on goodwill for the year ended December 31, 2025. The Company bases fair value estimates on assumptions that the Company believes to be reasonable but that are unpredictable and inherently uncertain. Actual future results may differ from those estimates.

Impairment for intangible assets During annual impairment test performed in the fourth quarter of 2025, the Company identified several triggering events indicating that the carrying value of its intangible assets may exceed their fair value. These indicators included regulatory and tax policy changes in China for the livestreaming industry starting in the second half of 2025, the significant decrease in paying users for the year ended December 31, 2025, and a continuous decline in the Company’s operating income during the second half of 2025. The Company performed a quantitative assessment as of December 31, 2025 using an income approach. The income approach utilized a discounted cash flow model based on the assumptions including management’s best estimates of the expected future cash flows, risk-adjusted discount rate, and the estimated useful life of the asset group with assistance of a third-party valuation firm. Based on this analysis, the Company determined that the carrying values of its intangible assets were no longer recoverable. As a result of the fair value test, the Group recorded a full impairment of RMB398.8 million (US$57.0 million) on intangible assets for the year ended December 31, 2025.

Other income, net increased by 442.7% to RMB8.7 million (US$1.2 million) for the year ended December 31, 2025 from RMB1.6 million for the year ended December 31, 2024. The increase was primarily due to increased government subsidies and a one-time compensation income. There is no assurance that the Company will continue to receive these subsidies in the future.

Foreign exchange loss was RMB1.6 million (US$0.2 million) for the year ended December 31, 2025, as compared to foreign exchange gain of RMB3.8 million for the year ended December 31, 2024.

Income tax benefit was RMB80.4 million (US$11.5 million) for the year ended December 31, 2025, as compared to income tax expenses of RMB12.6 million for the year ended December 31, 2024.

Net loss was RMB595.0 million (US$85.1 million) for the year ended December 31 2025, as compared to a net income of RMB26.7 million for the year ended December 31, 2024.

Basic and diluted net loss attributable to the Company’s shareholders per ordinary share were both RMB14.05 (US$2.01) for the year ended December 31, 2025. In comparison, basic and diluted net income attributable to the Company’s shareholders per ordinary share was RMB0.96 and RMB 0.95 for the year ended December 31, 2024.

Adjusted basic and diluted net loss attributable to the Company’s shareholders per ordinary share were both RMB13.87 (US$1.98) for the year ended December 31, 2025. In comparison, adjusted basic and diluted net income attributable to the Company’s shareholders per ordinary share was RMB1.22 and RMB1.21 for the year ended December 31, 2024.

As of December 31, 2025, the Company had cash and cash equivalent balance of RMB307.7 million (US$44.0 million), which represented an increased by of RMB55.1 million from RMB252.5 million as of December 31, 2024.

Use of Non-GAAP Financial Measures

Adjusted net income attributable to the Company’s shareholders is calculated as net income attributable to the Company’s shareholders adjusted for share-based compensation. Adjusted basic and diluted net income per ordinary share is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ordinary shares used in the calculation of non-GAAP basic and diluted net income per ordinary share. The non-GAAP financial measures are presented to enhance investors’ overall understanding of the Company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to its most directly comparable GAAP financial measures. As non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures as a substitute for, or superior to, such metrics in accordance with US GAAP.

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of Non-GAAP Results” near the end of this release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.9931 to US$1.00, the noon buying rate in effect on December 31, 2025, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB amounts could have been, or could be, converted, realized or settled in U.S. dollars at that rate on December 31, 2025, or at any other rate.

About Scienjoy Holding Corporation

Scienjoy is a pioneering Nasdaq-listed interactive entertainment leader. Driven by the vision of shaping a metaverse lifestyle, Scienjoy leverages AI-powered technology to create immersive experiences that resonate with global audiences, fostering meaningful connections and redefining entertainment. For more information, please visit http://ir.scienjoy.com/.

Safe Harbor Statement

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company’s filings with the Securities and Exchange Commission (“SEC”) from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

For investor and media inquiries, please contact:

Investor Relations Contacts

Denny Tang
Chief Financial Officer
Scienjoy Holding Corporation
+86-10-64428188
ir@scienjoy.com

Ascent Investor Relations LLC

Tina Xiao
+1-646-932-7242
investors@ascent-ir.com

CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share and per share data or otherwise stated)

As of December 31,

2024

2025

RMB

US$

ASSETS

Current assets

Cash and cash equivalents

252,540

307,650

43,993

Accounts receivable, net

226,060

43,290

6,190

Due from a related party

–

100

Investment in marketable security

37,629

8,561

1,224

Prepaid expenses and other current assets

28,415

23,607

3,376

Total current assets

544,644

383,208

54,797

Non-current assets

Property and equipment, net

1,981

2,244

321

Intangible assets, net

405,256

–

Goodwill

182,661

–

Long term investments

257,387

271,261

38,790

Long term deposits and other assets

906

1,741

249

Right-of-use assets-operating lease

4,845

14,695

2,101

Deferred tax assets

7,505

37,288

5,332

Total non-current assets

860,541

327,229

46,793

TOTAL ASSETS

1,405,185

710,437

101,590

LIABILITIES AND EQUITY

Current liabilities

Accounts payable

36,015

16,665

2,381

Deferred revenue

80,186

50,464

7,216

Accrued salary and employee benefits

22,346

15,184

2,171

Income tax payable

11,284

10,899

1,559

Lease liabilities-operating lease -current

4,098

3,641

521

Accrued expenses and other current liabilities

6,840

9,728

1,391

Total current liabilities

160,769

106,581

15,239

Non-current liabilities

Deferred tax liabilities

58,400

–

Lease liabilities-operating lease -non-current

700

10,399

1,487

Total non-current liabilities

59,100

10,399

1,487

TOTAL LIABILITIES

219,869

116,980

16,726

Commitments and contingencies

EQUITY

Ordinary share, no par value, unlimited Class A ordinary shares and
Class B ordinary shares authorized, 38,922,726 Class A ordinary
shares and 2,925,058 Class B ordinary shares issued and outstanding
as of December 31, 2024, respectively; 39,537,710 Class A ordinary
shares and 2,925,058 Class B ordinary shares issued and outstanding
as of December 31, 2025, respectively.

Class A ordinary shares

444,162

451,666

64,588

Class B ordinary shares

23,896

3,417

Shares to be issued

20,817

2,977

Treasury stocks

(19,952)

(2,853)

Statutory reserves

50,705

34,091

4,875

Retained earnings

662,499

92,024

13,159

Accumulated other comprehensive income

16,967

12,867

1,840

Total shareholders’ equity

1,199,094

615,409

88,003

Non-controlling interests

(13,778)

(21,952)

(3,139)

Total equity

1,185,316

593,457

84,864

TOTAL LIABILITIES AND EQUITY

1,405,185

710,437

101,590

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(All amounts in thousands, except share and per share data or otherwise stated)

For the years ended December 31,

2024

2025

RMB

US$

Live streaming – consumable virtual items revenue

1,317,601

1,187,033

169,743

Live streaming – time based virtual item revenue

24,935

16,951

2,424

Technical services and others

20,848

37,637

5,382

Total revenue

1,363,384

1,241,621

177,549

Cost of revenues

(1,117,942)

(1,014,455)

(145,065)

Gross profit

245,442

227,166

32,484

Sales and marketing expenses

(7,049)

(6,357)

(909)

General and administrative expenses

(76,629)

(88,977)

(12,724)

Research and development expenses

(90,461)

(83,426)

(11,930)

Provision for credit losses

(30,584)

(127,290)

(18,202)

Income (loss) from operations

40,719

(78,884)

(11,281)

Change in fair value of investment in marketable security

6,103

(29,067)

(4,157)

Investments (loss) income

(5,742)

8,712

1,246

Impairment for goodwill

–

(186,170)

(26,622)

Impairment for intangible assets

–

(398,835)

(57,033)

Impairment of long-term investments

(10,425)

–

Interest income, net

3,211

1,712

245

Other income, net

1,609

8,732

1,249

Foreign exchange (loss) gain, net

3,805

(1,569)

(224)

Income (loss) before income taxes

39,280

(675,369)

(96,577)

Income tax (expense) benefit

(12,597)

80,369

11,493

Net income (loss)

26,683

(595,000)

(85,084)

Less: net loss attributable to noncontrolling interest

(13,002)

(7,911)

(1,131)

Net income (loss) attributable to the Company’s
shareholders

39,685

(587,089)

(83,953)

Other comprehensive income (loss):

Other comprehensive loss – foreign currency translation
adjustment

(998)

(3,494)

(500)

Comprehensive income (loss)

25,685

(598,494)

(85,584)

Less: comprehensive loss attributable to non-controlling
interests

(13,002)

(7,305)

(1,045)

Comprehensive income (loss) attributable to the Company’s
shareholders

38,687

(591,189)

(84,539)

Weighted average number of shares

Basic

41,367,946

41,776,414

Diluted

41,564,237

41,776,414

Earnings (loss) per share

Basic

0.96

(14.05)

(2.01)

Diluted

0.95

(14.05)

(2.01)

Reconciliations of Non-GAAP Results

(All amounts in thousands, except share and per share data or otherwise stated)

For the years ended December 31,

2024

2025

RMB

US$

Net income (loss) attributable to the Company’s shareholders

39,685

(587,089)

(83,953)

Less:

Share based compensation

(10,579)

(7,504)

(1,073)

Adjusted net income (loss) attributable to the Company’s
shareholders*

50,264

(579,585)

(82,880)

Adjusted net income (loss) per ordinary share

Basic

1.22

(13.87)

(1.98)

Diluted

1.21

(13.87)

(1.98)

“Adjusted net income attributable to the Company’s shareholders” is defined as net income attributable to the
Company’s shareholders excluding share based compensation.

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SOURCE Scienjoy Holding Corporation

Technology

The Inner Circle acknowledges Daniel Beer as a Pinnacle Professional Member Inner Circle of Excellence

Published

48 minutes ago

September 8, 2026

NEW YORK, Sept. 8, 2026 /PRNewswire/ — Prominently featured in The Inner Circle, Daniel Beer is acknowledged as a Pinnacle Professional Member Inner Circle of Excellence for his contributions to Information Technology and Artificial Intelligence.

Daniel Beer has built a distinguished career as a technology executive, entrepreneur, and innovator dedicated to helping organizations harness technology to achieve sustainable growth and meaningful collaboration. As founder and chief executive officer of Trusted Associates and chief executive officer of Freeman and Clarke Inc., he leads initiatives that combine strategic technology leadership with emerging innovations in artificial intelligence and digital transformation.

Mr. Beer specializes in information technology strategy, platform development, organizational modernization, digital infrastructure, and fractional chief information officer and chief technology officer services. Through Freeman and Clarke Inc., he provides executive technology leadership that enables organizations to align technology investments with long term business objectives. At Trusted Associates, he focuses on developing collaborative technology platforms, cultivating strategic partnerships, creating innovative applications, and making investments in artificial intelligence companies that advance practical, real world solutions.

Mr. Beer earned a Bachelor of Music Education from the University of Sydney in 1997 before completing an equivalency certification for a Bachelor of Applied Science in Computer Science through the University of Maryland in 2012. His unique educational background combines creativity with technical expertise, allowing him to approach technology challenges with both analytical precision and innovative thinking.

Throughout his career, Mr. Beer has consistently demonstrated visionary leadership. He founded Techknowledgy Group at the age of 20 and successfully grew the company into a respected managed services provider over a fifteen year period. Later, as Chief Information Officer for the New York Hotel Trades Council, he led the modernization of the organization’s information systems and digital infrastructure, significantly improving operational efficiency and technology capabilities. Today, he continues expanding his influence through leadership roles with Trusted Associates, Freeman and Clarke Inc., and as an investor and advisory board member for Relate Research and Technology Company.

His professional accomplishments have earned recognition through inclusion in Marquis Who’s Who Top Executives, honoring his leadership, innovation, and contributions to the field of information technology.

Outside of his professional endeavors, Mr. Beer enjoys singing in church choirs, supporting personal development programs, and participating in animal rescue efforts, including fostering and rescuing dogs alongside his family. He credits the mentors who invested in his growth without expecting anything in return for shaping both his leadership philosophy and his commitment to serving others.

Looking ahead, Mr. Beer plans to continue advancing technology solutions that promote global collaboration while pursuing initiatives that improve literacy, raise awareness of neurodiversity, reduce incarceration rates, and create opportunities that benefit society as a whole. He remains committed to using innovation as a force for positive change.

Guided by his W5 philosophy, Mr. Beer believes true success is measured by helping others succeed. Through collaboration, communication, service, and innovation, he continues to build organizations and technologies that create lasting value for clients, communities, and future generations.

Contact: Katherine Green, 516-825-5634, editorialteam@continentalwhoswho.com

View original content:https://www.prnewswire.com/news-releases/the-inner-circle-acknowledges-daniel-beer-as-a-pinnacle-professional-member-inner-circle-of-excellence-302872896.html

SOURCE The Inner Circle

Technology

Thoma Bravo Announces Strategic Growth Investment in Tanda

Published

48 minutes ago

September 8, 2026

Investment to accelerate Tanda’s product innovation and global growth

BRISBANE, Australia and SAN FRANCISCO, Sept. 8, 2026 /PRNewswire/ — Thoma Bravo, the world’s largest software-focused investment firm, today announced a strategic growth investment in Tanda, a leading workforce management, payroll and HR platform for shift-based workers. Thoma Bravo’s investment will support Tanda’s continued product innovation, including the company’s AI roadmap and its expansion into new markets. Tanda’s co-founders will remain significant shareholders and will continue to lead the company, with Jake Phillpot remaining Chief Executive Officer. Terms of the transaction were not disclosed.

Tanda is the market leader in workforce management for shift-based employers, serving approximately 8,000 businesses globally across hospitality, retail, quick-service restaurants, healthcare and other frontline industries. Tanda’s integrated workforce management platform combines employee recruiting, onboarding, rostering, time and attendance, gross wage calculations and payroll on a single codebase. This natively built product suite enables employers in complex, highly regulated markets to manage compliance and ensure employees are paid accurately. Trusted by thousands of organizations, Tanda’s platform powers the daily operations of some of the most demanding frontline businesses in the world.

“Taking on an investor was a very big decision for Tanda,” said Jake Phillpot, Co-Founder & Chief Executive Officer of Tanda. “We’ve been a bootstrapped company with no outside capital since we were founded 14 years ago. What started as an idea when we were still housemates at university has become a global business that we have built without taking shortcuts. Through a lot of hard work, we have market-leading products, growing market share and so much more room to grow. We thought the time was right to take on our first investor.”

“Thoma Bravo was the obvious choice as our financial partner,” Phillpot continued. “They understand software at an extraordinary level, have spent decades helping companies like ours scale and share our ambition for what Tanda can become. By partnering with the world’s number one software investor, we intend to become the global category leader in our space. Most importantly, the things that make Tanda precious won’t change. The founders will still come to work every day, and we’ll still obsess over how we can make our products better for our customers.”

“Managing and compensating employees accurately is a fundamental obligation of all employers, yet it remains a universal challenge, particularly for businesses with shift-based employees,” said Carl Press, a Partner at Thoma Bravo. “Employers are frustrated by a patchwork of legacy systems that cannot address their complex needs and expose them to operational and legal risks. Jake and his co-founders identified this problem and built Tanda from the ground up with customers and their employees at the center of every product decision. In doing so, they’ve laid the groundwork to become the definitive AI-native workforce management solution in the shift-based economy. We couldn’t be more thrilled to help them drive the next chapter of accelerated growth and innovation.”

“Tanda has everything we look for in an investment: market leadership, a fiercely loyal customer base and a product-first founding team with deep domain expertise,” said Adam Kinalski, a Principal at Thoma Bravo. “Jake and his co-founders have built a rare business that matches strong product-market fit with exceptional operational execution. We’re excited to partner with them on their mission to make Tanda the global standard in workforce management and payroll software for shift-based employers.”

Barrenjoey Advisory Pty Ltd is serving as financial advisor to Tanda, and SBA Law is serving as legal counsel. Piper Sandler & Co. is serving as exclusive financial advisor to Thoma Bravo, and Kirkland & Ellis LLP and Allens are serving as legal counsel.

About Thoma Bravo
Thoma Bravo is the world’s largest software-focused investment firm, with approximately $170 billion in assets under management as of June 30, 2026. Partnering with some of the world’s most sophisticated investors, Thoma Bravo’s private equity and private credit platforms reflect a focused investment strategy, supported by disciplined execution, deep sector expertise and leadership continuity. Over the past 20-plus years, Thoma Bravo has acquired or invested in approximately 600 software and technology companies, representing more than $325 billion of aggregate enterprise value (including control and non-control investments, as well as add-on acquisitions). Learn more at thomabravo.com and on LinkedIn.

About Tanda
Founded in 2012 and headquartered in Brisbane, Australia, Tanda (operating internationally as Workforce.com) is an all-in-one payroll, HR and workforce management system for businesses with shift-based and hourly workforces. Tanda’s platform brings rostering, time and attendance, award interpretation, compliance, payroll and HR onboarding together in a single system, helping employers in hospitality, retail, healthcare and other frontline industries schedule efficiently and pay employees accurately. The company serves thousands of customers across Australia, North America, the United Kingdom and Southeast Asia. For more information, visit tanda.co.

For Thoma Bravo

Abby Farr
Vice President, Communications & Marketing
+1 646-957-2067
afarr@thomabravo.com

For Tanda

Georgie Pollok
Head of Marketing
media@tanda.com.au

View original content to download multimedia:https://www.prnewswire.com/news-releases/thoma-bravo-announces-strategic-growth-investment-in-tanda-302872908.html

SOURCE Thoma Bravo

Technology

PeerTrust Launches Public Service to Evaluate Citation Integrity and Scientific Due Diligence Beyond Citation Counts

Published

48 minutes ago

September 8, 2026

New “Know Your Scientist” tool allows insurance carriers, universities, research funders, and science investors to inspect citation accumulation patterns and network anomalies.

FREDERICK, Md., Sept. 8, 2026 /PRNewswire/ — PeerTrust is now publicly available at PeerTrust.Report, giving science stakeholders a way to examine unusual patterns in the citation record behind a researcher’s scholarly profile.

Citations influence hiring, funding, promotion, institutional rankings, and decisions about scientific partnerships. Yet those decisions often rely on how frequently a scientist has been cited, with little scrutiny of where those citations came from or how the surrounding network developed.

PeerTrust introduces Know Your Scientist (KYS), researcher-level scientific due diligence based on public scholarly records. The service examines three distinct anomaly types:

Coauthor Network Concentration: Unusual concentration of citation activity within a researcher’s coauthor network.Reciprocal Citation Relationships: Repeated reciprocal citation relationships.Publication Velocity: Abrupt changes in publication output.

PeerTrust weighs these signals and produces an evidence-oriented report for human review.

“PeerTrust tells decision makers where unusual citation structures appear and gives them evidence they can inspect,” said Bassem Kadry, Chief Innovation Officer at ScienceWerx. “What that evidence means still requires context and human judgment.”

An unusual pattern is not a finding of misconduct. Close scientific collaboration, consortium publishing, changes in team size, or rapid growth in research activity can all produce legitimate anomalies. PeerTrust is designed to identify records that warrant closer examination, not to infer intent or assign guilt.

Computational Reproducibility Benchmark

The system has also undergone a computational reproducibility benchmark using a deliberately citation-enriched cohort of researchers identified through exceptionally highly cited recent publications. A separate team reimplemented the public PeerTrust methodology in Python and compared its results with the production system using identical preserved bibliographic evidence.

Both implementations returned the same final PeerTrust classification for all 260 researchers that could be scored. Across the complete set of benchmarked outputs, 258 of 260 cases matched exactly. The two remaining cases contained small numerical differences that did not change their classifications.

In the deliberately difficult test cohort, 116 of the 260 scored researchers received an ELEVATED or HIGH PeerTrust classification. The cohort was specifically constructed around unusually strong recent citation visibility to stress-test the system and cannot estimate how common citation manipulation or research misconduct is among scientists generally.

“Scientific due diligence often stops at publication and citation counts,” said Khalid Saqr of KNOWDYN. “If those numbers influence funding, appointments and partnerships, organizations should be able to examine the structure behind them before making consequential decisions.”

PeerTrust’s methodology separates automated anomaly detection from human judgment. The system organizes bibliometric evidence for review; it does not replace expert assessment, institutional investigation, or due process.

About PeerTrust & Next Steps

PeerTrust is a transatlantic joint initiative of ScienceWerx and KNOWDYN. The public service is live now at peertrust.report. PeerTrust is moving next into API access and institutional deployment and is identifying insurers, universities, research funders, investors, research-intelligence, and research-integrity organizations interested in bringing Know Your Scientist into existing review and scientific due-diligence workflows.

About ScienceWerx, Inc.

ScienceWerx was born from a simple yet powerful observation: countless groundbreaking scientific discoveries remain trapped in academic journals and laboratories, unable to make a real-world impact. The gap between brilliant research and market-ready solutions represents a massive loss of potential for humanity.

About KNOWDYN LTD

KNOWDYN LTD is an Intellectual Property (IP) custodian and licensor. The company is registered in England and Wales and operates in 17 countries across the Americas, Europe, and East Asia.

Website: peertrust.report

View original content:https://www.prnewswire.com/news-releases/peertrust-launches-public-service-to-evaluate-citation-integrity-and-scientific-due-diligence-beyond-citation-counts-302872905.html

SOURCE ScienceWerx