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Cango Inc. Reports Second Quarter 2026 Unaudited Financial Results

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DALLAS, Aug. 31, 2026 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a leading Bitcoin miner leveraging its global operations to develop an integrated energy and AI compute platform, today announced its unaudited financial results for the second quarter ended June 30, 2026.

Second Quarter of 2026 Financial and Operational Highlights

Financial Performance: Even as the broader mining industry weighed on revenue, the Company continued to advance its diversification strategy through EcoHash’s commercial progress and disciplined cost management. In the second quarter of 2026, the Company generated total revenue of US$50.8 million, primarily driven by US$47.4 million from its Bitcoin mining business. The Company reported a net loss of US$81.6 million, primarily driven by non-cash impairment and disposal losses on the mining machines.  As of the end of the period, the Company held 1,056 Bitcoins as digital asset reserves, with long-term debt of US$31.2 million, reflecting an improved balance sheet structure.Mining Operations and Costs: To reinforce its disciplined cost management, the Company continued to actively right-size its mining operations, disposing of machines with lower marginal efficiency and partially executing a leasing model. Total operating hashrate reached 27.58 EH/s, comprising 19.84 EH/s of self-mining capacity and 7.74 EH/s of leased hashrate capacity as of June 30, 2026. During the quarter, the Company mined 656 Bitcoins. The improved fleet mix and disciplined execution drove an approximately 5% sequential reduction in average cash cost per Bitcoin, which declined to US$73,313. The Company also started to selectively execute a hedging strategy to mitigate the impact of price volatility on operations.

Mr. Paul Yu, Chief Executive Officer of Cango, said, “In our Bitcoin mining business, we continue to focus on unit economics rather than scale.  At the same time, we continued to deliver on our AI modular build at our LN mining site. The Georgia site completed conversion in early July and the infrastructure is now capable of supporting up to 3 megawatts, with scope for future expansion. Container units have been delivered and installed on site, and GPU hardware has been procured and is arriving in staged batches to support a phased ramp-up. In the future, we intend to pursue two business models. The first is bare-metal GPU hosting, using our infrastructure to offer a standardized deployment environment. The second is colocation, intended to enhance overall infrastructure utilization. Our Georgia site is in the process of onboarding customers, with revenue expected to be recognized in the third quarter. To support customers who require proximity-based deployment, we have begun to operate test nodes in Texas and on the West Coast as part of our phased ramp-up. Looking ahead, we continue to evaluate potential new sites and the possibility of self-build facilities.”

Mr. Simon Tang, Chief Financial Officer of Cango, stated, “During the quarter, we recorded a net loss of US$81.6 million, mainly driven by non-cash impairment and disposal losses on our mining machines. During the quarter, we also launched a Bitcoin hedging program designed to manage our exposure to Bitcoin price volatility and enhance the predictability of operating cash flows. We intend to use hedging strictly as a risk management tool, not for speculative purposes. Related short-term positions are reflected on our balance sheet and will be adjusted as we continue to execute this program in a disciplined manner.”

Second Quarter 2026 Financial Results from Continuing Operations

REVENUES

During the quarter, total revenues were US$50.8 million, including US$47.4 million from Bitcoin mining and US$3.4 million from other revenues. Compared with the first quarter of 2026, total revenue decreased approximately 50%, primarily reflecting the Company’s proactive reduction of operating hashrate as it phased out older, less efficient S19 series mining machines and transitioned some capacity to a hosted leasing model. While this strategic adjustment temporarily impacted top-line revenue, it resulted in lower operating costs and an improved overall cash flow profile.

OPERATING COSTS AND EXPENSES

During the quarter, total operating costs and expenses were US$131.4 million. These costs were primarily associated with the Company’s Bitcoin mining business and the recognition of impairment loss on mining machines, and included the loss from changes in fair value of crypto assets.

Cost of revenue (exclusive of depreciation shown below) was US$50.7 million, down from US$99.6 million in the first quarter of 2026. This was driven by lower electricity and hosting expenses following the hashrate reduction.Depreciation was US$16.9 million, down from US$29.4 million in the first quarter of 2026.General and administrative expenses, including related-party fees, totaled US$8.4 million.Impairment loss from mining machines was US$42.9 million.Loss on disposal of mining machines was US$8.5 million.Loss from changes in fair value of crypto assets was US$4.1 million, compared to a US$151.8 million loss from changes in fair value of crypto assets in the first quarter of 2026. This change is primarily driven by the stabilization and modest recovery in Bitcoin market prices during the quarter and the initial impact of our newly launched Bitcoin hedging program.

LOSS FROM OPERATIONS

Loss from operations in the second quarter of 2026 was US$80.6 million, compared with an operating loss of US$254.4 million in the first quarter of 2026.

NET LOSS FROM CONTINUING OPERATIONS

Net loss from continuing operations in the second quarter of 2026 was US$81.6 million, compared with a net loss of US$261.1 million in the first quarter of 2026. The net loss was mainly driven by non-cash impairment and disposal losses.

ADJUSTED EBITDA

Adjusted EBITDA in the second quarter of 2026 was a loss of US$10.7 million, which included a US$4.1 million loss from changes in fair value of crypto assets, compared with a loss of US$154.1 million in the first quarter of 2026.

BALANCE SHEET

As of June 30, 2026, the Company held:

Cash and cash equivalents of US$10.1 million, compared with US$7.2 million as of March 31, 2026.1,056 BTC in treasury holdings.Mining machines with a net value of US$58.7 million.Long-term debts (related party) of US$31.2 million, compared with US$30.6 million as of March 31, 2026.

Conference Call Information

The Company’s management will hold a conference call on Monday, August 31, 2026, at 9:00 P.M.  Eastern Time to discuss the financial results. Listeners may access the call by dialing the following numbers:

International: 

+1-412-902-4272

United States Toll Free:

+1-888-346-8982

Mainland China Toll Free:

4001-201-203

Hong Kong, China Toll Free:

800-905-945

Conference ID: 

Cango Inc.

The replay will be accessible through September 6, 2026, by dialing the following numbers:

International: 

+1-412-317-0088

United States Toll Free:

+1-855-669-9658

Access Code:

8654407

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

About Cango Inc.

Cango Inc. (NYSE: CANG) is a Bitcoin mining company with a vision to establish an integrated, global infrastructure platform capable of powering the future digital economy. The Company’s mining operations span across North America, the Middle East, South America, and East Africa.

Since entering the digital asset space in November 2024, Cango has activated pilot projects in both integrated energy solutions and distributed AI computing. In parallel, Cango continues to operate an online international used car export business through AutoCango.com.

For more information, please visit: www.cangoonline.com and follow us on: X and LinkedIn.

Use of Non-GAAP Financial Measure

As part of our review of business performance, we present adjusted EBITDA as non-GAAP financial measure to help assess our core operating results. Adjusted EBITDA is defined as net income or loss before interest, taxes, depreciation, and amortization, impairment, results from discontinued operations and further excludes share-based compensation expenses and other non-operating income and expenses. We believe adjusted EBITDA can be an important financial measure because it allows management, investors, and our board of directors to evaluate and compare our operating results, including our return on capital and operating efficiency from period-to-period by making such adjustments.

While adjusted EBITDA is not a measure defined under U.S. GAAP, management uses it to evaluate performance, make strategic decisions, and set operating plans. Management believes it also helps investors gain a clearer understanding of our underlying performance by excluding certain costs and expenses that management believes are not indicative of our core operating results. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for results or guidance prepared and presented in accordance with U.S. GAAP.

The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of Cango’s non-GAAP financial measure to the most comparable U.S. GAAP measure are included at the end of this press release.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this announcement, contain forward-looking statements. Cango may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Cango’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Cango’s goal and strategies; Cango’s expansion plans; the development and commercialization of its AI infrastructure business; the performance and economics of its Bitcoin mining operations; Bitcoin price volatility; Cango’s future business development, financial condition and results of operations; Cango’s expectations regarding demand for, and market acceptance of, its solutions and services; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Cango’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Cango does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

CANGO INC.
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in US dollar (“US$”), except for number of shares）

 As of December 31, 2025 

As of June 30, 2026

 US$ 

 US$ 

ASSETS:

Current assets:

Cash and cash equivalents

41,243,627

10,121,719

Crypto currencies

42,545

12,892,900

Accounts receivable, net

1,661,702

1,818,814

Accounts receivable, net – related parties

1,064,440

–

Prepayments and other current assets, net

6,835,599

54,208,544

Other current assets, net – related party

74,270,770

42,108,750

Total current assets

125,118,683

121,150,727

Non-current assets:

Mining machines, net

248,745,505

58,699,566

Property, plant and equipment, net

18,797,925

22,290,496

Intangible assets, net

292,836

277,744

Operating lease right-of-use assets, net

2,079,937

1,764,239

Receivable for bitcoin collateral, net – non-current – related party

662,968,814

61,485,537

Other non-current assets, net

68,025,983

21,761,273

Other non-current assets, net – related party

6,955,650

6,955,650

Total non-current assets

1,007,866,650

173,234,505

TOTAL ASSETS

1,132,985,333

294,385,232

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Short-term debts

–

8,032,711

Accrued expenses and other current liabilities

82,329,075

22,954,250

Accrued expenses and other current liabilities – related parties

5,025,566

1,184,368

Income tax payable

88,792,503

88,361,704

Short-term lease liabilities

573,959

559,170

Total current liabilities

176,721,103

121,092,203

Non-current liabilities:

Long-term debts – related party

557,567,671

31,227,904

Deferred tax liability

1

1

Long-term operating lease liabilities

1,655,272

1,336,517

Convertible Note

–

9,984,086

Total non-current liabilities

559,222,944

42,548,508

Total liabilities

735,944,047

163,640,711

Shareholders’ equity

Ordinary shares

44,171

49,796

Treasury shares

(103,424,568)

(104,429,322)

Additional paid-in capital

1,135,958,943

1,213,346,273

Accumulated deficit

(635,537,260)

(978,222,226)

Total Cango Inc.’s  equity

397,041,286

130,744,521

Total shareholders’ equity

397,041,286

130,744,521

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,132,985,333

294,385,232

 

 

CANGO INC.
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
(Amounts in US dollar (“US$”), except for number of shares)

 For three months ended June 30 

 For six months ended June 30 

2025

2026

2025

2026

 US$ 

 US$ 

 US$ 

 US$ 

Revenues

139,836,585

50,780,771

283,990,631

152,781,755

Bitcoin mining income

138,125,669

47,427,558

282,269,981

145,871,438

Other revenues

1,710,916

3,353,213

1,720,650

6,380,443

Other revenues from related parties

–

–

–

529,874

Operating cost and expenses:

Cost of revenue  (exclusive of depreciation shown below)

112,786,283

50,694,280

225,447,985

150,273,065

Cost of revenue  (depreciation)

21,849,482

16,930,355

43,194,326

46,302,554

General and administrative

2,986,487

7,788,237

13,014,756

14,337,583

General and administrative – related parties

–

647,653

–

1,295,306

Provision (Net recovery) for credit losses

920,228

(221,528)

1,209,459

(1,201,281)

Impairment loss from mining machines

256,856,570

42,861,871

256,856,570

91,900,419

(Gain) Loss on changes in fair value of crypto assets

(78,450,881)

4,148,957

(51,715,376)

155,987,387

Loss on disposal of mining machines

–

8,546,085

–

28,853,297

Total operation cost and expense

316,948,169

131,395,910

488,007,720

487,748,330

Loss from operations

(177,111,584)

(80,615,139)

(204,017,089)

(334,966,575)

Interest income

696,981

11

991,173

2,145

Interest expense

(2,053,009)

–

(3,363,606)

–

Interest expense – related party

–

(597,032)

–

(7,299,899)

Foreign exchange (loss) gain, net

19,702

120

(7,988)

(512)

Other income

114,123

–

226,993

–

Other expense

(78,095)

–

(78,095)

–

Net loss before income taxes

(178,411,882)

(81,212,040)

(206,248,612)

(342,264,841)

Income tax benefit (expenses)

1,581,658

(420,125)

1,150,475

(420,125)

Net loss from continuing operations 

(176,830,224)

(81,632,165)

(205,098,137)

(342,684,966)

Discontinued operations:

Loss from discontinued operations

(125,915,027)

–

(129,822,040)

–

Income tax expense

(32,646,978)

–

(32,646,978)

–

Net loss from discontinued operations

(158,562,005)

–

(162,469,018)

–

Net loss attributable to Cango Inc.’s shareholders

(335,392,229)

(81,632,165)

(367,567,155)

(342,684,966)

Losses per ordinary share:

Basic

Discontinued operations

(7.41)

–

(7.70)

–

Continuing operations 

(8.26)

(1.99)

(9.73)

(8.91)

Basic

(15.67)

(1.99)

(17.43)

(8.91)

Diluted

Discontinued operations

(7.41)

–

(7.70)

–

Continuing operations 

(8.26)

(1.99)

(9.73)

(8.91)

Diluted

(15.67)

(1.99)

(17.43)

(8.91)

Weighted average shares used to compute losses per ordinary share:

Basic

21,408,969

41,021,969

21,084,595

38,455,840

Diluted

21,408,969

41,021,969

21,084,595

38,455,840

Other comprehensive income, net of tax

Release accumulated other comprehensive loss

44,270,340

–

44,270,340

–

Foreign currency translation adjustment

10,583,883

–

5,304,633

–

Total comprehensive loss

(280,538,006)

(81,632,165)

(317,992,182)

(342,684,966)

Total comprehensive loss attributable to Cango Inc.’s shareholders

(280,538,006)

(81,632,165)

(317,992,182)

(342,684,966)

 

 

CANGO INC.
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(Amounts in US dollar (“US$”)

 For three months ended June 30 

 For six months ended June 30 

2025

2026

2025

2026

 (Unaudited) 

 (Unaudited) 

 (Unaudited) 

 (Unaudited) 

 US$ 

 US$ 

 US$ 

 US$ 

Net loss

(335,392,229)

(81,632,165)

(367,567,155)

(342,684,966)

Less: Discontinued operations:

           Loss from discontinued operations

(125,915,027)

–

(129,822,040)

–

           Income tax expense

(32,646,978)

–

(32,646,978)

–

           Loss on discontinued operations

(158,562,005)

–

(162,469,018)

–

Net loss from continuing operations 

(176,830,224)

(81,632,165)

(205,098,137)

(342,684,966)

Add: Interest expense

2,053,009

597,032

3,363,606

7,299,899

Add: Income tax expenses (benefit)

(1,581,658)

420,125

(1,150,475)

420,125

Add: Depreciation

21,851,200

16,930,355

43,201,199

46,319,358

Cost of revenue

21,849,482

16,930,355

43,194,326

46,302,554

General and administrative

1,718

–

6,873

16,804

Add: Impairment loss from mining machines

256,856,570

42,861,871

256,856,570

91,900,419

Add: Loss on disposal of mining machines

–

8,546,085

–

28,853,297

Add: Other expenses

78,095

–

78,095

Less: Other income

114,123

–

226,993

–

Add: Share-based compensation expenses

152,674

1,553,214

3,697,862

3,089,509

General and administrative

152,674

1,553,214

3,697,862

3,089,509

Non-GAAP adjusted EBITDA

102,465,543

(10,723,483)

100,721,727

(164,802,359)

Non-GAAP adjusted EBITDA attributable to Cango Inc.’s shareholders

102,465,543

(10,723,483)

100,721,727

(164,802,359)

 

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SOURCE Cango Inc.

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American Water Charitable Foundation Awards $10,000 Grant to Expand STEM Learning at Putnam Museum

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44 minutes ago

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November 10, 2026

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Funding supports hands-on learning, STEM career exploration and museum access for families facing financial barriers

DAVENPORT, Iowa, Nov. 10, 2026 /PRNewswire/ — The American Water Charitable Foundation, a philanthropic nonprofit organization established by American Water (NYSE: AWK), and Iowa American Water announced today that the Foundation awarded a $10,000 STEM Education grant to the Putnam Museum and Science Center. The grant will support the museum’s STEM education curriculum and programming, including expanded middle-school STEM career exploration, hands-on learning experiences and targeted access for children and families who face financial barriers to participating in museum programs.

“We’re honored to receive this American Water Charitable Foundation grant. It will allow us to both partner with schools to enhance STEM curiosity and skills through new units for students in grades K–8 and help us serve students outside of school via means such as new AI Lego workshops for middle schoolers, STEAM Saturdays, and a no-cost event for families with limited financial resources. We are truly grateful for the Foundation’s and Iowa American Water’s commitment to giving kids the skills and knowledge necessary to flourish in modern society,” said Cindy Diehl Yang, president and CEO of the Putnam Museum.

The grant will also support a specially arranged family STEM experience. Invited children and families from low-income and traditionally underrepresented communities will have access to the Science Center and other galleries. The museum has welcomed Iowa American Water employees as volunteers or activity presenters.

“At Iowa American Water, we’re proud to support STEM education that helps young people see what’s possible for their future,” said Brad Nielsen, president of Iowa American Water. “Hands-on experiences at the Putnam Museum can spark an interest in science and technology and help build the pipeline of future professionals our industry and communities need. Through the American Water Charitable Foundation’s support, this grant also helps open doors for children and families facing financial barriers, giving more students the opportunity to explore, learn and envision themselves in a STEM career.”

The STEM Education grant is part of the American Water Charitable Foundation’s Keep Communities Flowing Grant Program, which focuses on three pillars of giving: Water, People and Communities. STEM Education grants support STEM-focused curricular and extracurricular programs for students.

“The American Water Charitable Foundation is proud to support initiatives that provide access to high-quality learning students need to be successful,” said Carrie Williams, president of the American Water Charitable Foundation. “We take pride in supporting Iowa American Water’s continued efforts to be a responsible neighbor and partner in the community.”

Learn more about Iowa American Water’s community impact at iowaamwater.com.

About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 19 military installations. American Water’s approximately 7,000 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About American Water Charitable Foundation
The American Water Charitable Foundation, a philanthropic non-profit organization established by American Water, focuses on three pillars of giving: Water, People, and Communities. Since 2012, the Foundation has invested over $25 million in funding through grants and matching gifts to support eligible organizations in communities served by American Water. The Foundation is funded by American Water shareholders and has no impact on customer rates. For more information, visit amwater.com/awcf.

About Iowa American Water
Iowa American Water, a subsidiary of American Water, is the largest regulated water utility in the state with approximately 90 dedicated employees working to provide safe, clean, reliable and affordable water and wastewater services to approximately 225,000 people.  

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SOURCE American Water

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USOP and Mid State Celebrate Grand Opening of Alexandria ASC

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44 minutes ago

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November 10, 2026

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New Central Louisiana facility begins patient care as USOP advances surgery center development across the Southeast

ALEXANDRIA, La., Nov. 10, 2026 /PRNewswire/ — U.S. Orthopaedic Partners (USOP) and Mid State Orthopaedic & Sports Medicine Center celebrated the grand opening of Mid State Surgical Center in Alexandria on Nov. 5, marking the latest milestone in USOP’s strategy to expand access to specialized outpatient orthopedic care. The new ambulatory surgery center (ASC), dedicated to orthopedic and pain management care, has begun seeing patients.

“At the grand opening, you could feel how much this center means to the Mid State team and the Cenla community,” said Allen Anderson, Co-CEO of USOP. “These are physicians and staff who care deeply about their community, and we are proud to support them. They have put that same care into every part of this facility. Seeing their vision become a place where patients are now receiving care is a great moment for Mid State and for USOP.”

Specialized Surgical Care for Central Louisiana

Mid State Surgical Center was designed around orthopedic care, with modern operating rooms, dedicated preoperative and recovery areas, and workflows tailored to orthopedic procedures. Its advanced capabilities include robotic-assisted knee surgery and computer-assisted hip surgery, supporting surgical planning and implant positioning.

The center brings physicians, nursing, anesthesia, and recovery teams together in one specialized environment. For joint replacement patients, Mid State’s free Joint Camp also provides education before surgery, helping patients and caregivers understand what to expect during recovery and the transition home.

“Some of the capabilities we are introducing here are a first for our region,” said Jamie Rister, MD, an orthopedic surgeon at Mid State and president of Mid State Surgical Center. “We are bringing advanced technology into a setting built around orthopedic patients, with an opportunity to help set the pace for modern orthopedic care across Louisiana and the Southeast. I am grateful to my colleagues and our staff, and to USOP for its support. Most of all, I am excited for our patients in Cenla to have access to this kind of care close to home.”

Advancing ASC Development Across the Southeast

Mid State’s grand opening follows the Oct. 22 groundbreaking for Southern Orthopaedic Surgeons‘ new ASC in Montgomery, Alabama, which is planned to open in spring 2028. SportsMED‘s ASC in Huntsville, Alabama, is expected to break ground in the coming months. Development is also moving forward with Andrews Sports Medicine & Orthopaedic Center in Birmingham, extending USOP’s investment in the future of outpatient orthopedic care.

Across the platform, USOP is pairing new development with experienced ASC operating leadership and nationally recognized performance at affiliated surgery centers.

“Our ASC strategy connects the strength of established local practices with the resources to expand how and where they deliver care,” said Graham Young, Co-CEO of USOP. “We are investing in facilities and operating expertise that can create lasting value for our practices while expanding access to high-quality, cost-effective surgery. Mid State’s grand opening, the progress in Montgomery, and the developments ahead in Huntsville and Birmingham show that strategy advancing across our platform.”

About USOP

U.S. Orthopaedic Partners (USOP) is a physician-led orthopedic management services organization supporting a network of 10 practices across the Southeast. USOP partners with physicians and local practice leaders to strengthen operations and expand access to orthopedic care. Through shared resources and expertise, USOP helps practices pursue sustainable growth while preserving the local relationships and clinical leadership their communities trust. For more information, visit us-orthopartners.com.

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SOURCE U.S. Orthopaedic Partners

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Peter Thomas Roth Expands Into RCS Marketing with Listrak

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44 minutes ago

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November 10, 2026

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The prestige skin care brand’s first RCS campaigns beat SMS by 40% on conversion rate and 29% on revenue per send.

LITITZ, Pa., Nov. 10, 2026 /PRNewswire/ — Peter Thomas Roth, one of the largest independent prestige skin care brands in the U.S., has collaborated with its ecommerce marketing partner, the cross-channel personalization platform Listrak, to implement Rich Communication Services (RCS) messaging, delivering branded, interactive mobile messaging to RCS-enabled devices.

Since 2024, Peter Thomas Roth has partnered with Listrak to grow its ecommerce business and personalize customer communications. The addition of RCS builds upon the retailer’s mobile messaging program, delivering higher conversion rates and revenue per send than SMS.

RCS brings the features of messaging apps into the native texting app on a shopper’s phone. Android phones have supported RCS for years, and Apple added support with iOS 18 in September 2024, opening the channel to brands messaging both iPhone and Android users. Listrak was the first marketing platform provider to launch an RCS marketing campaign in the U.S., during the 2024 holiday season. With RCS, marketers can send creatively dynamic messages featuring carousels, high-resolution images, videos, and interactive buttons, while enabling quick replies and in-message engagement, and enhancing trust with verified sender information and brand styling.

Peter Thomas Roth’s recent RCS campaigns included promotions supporting several of the brand’s key fall shopping moments, including early access to sitewide sales, free gift-with-purchase offers, loyalty rewards messaging, and more.

Early RCS campaign results and program learnings included:

Higher Conversion Rates: RCS outperformed SMS on conversion rate by an average of 40% in 50/50 RCS vs. SMS tests.Increased Revenue: RCS generated 29% higher revenue per send than SMS over the same period.Growing Engagement: Click-through rates increased with each successive RCS send (going from a -14% decline on the first send to a 3% lift), suggesting engagement can strengthen as consumers become more familiar with receiving messages from a verified brand sender.Broad RCS Reach: Approximately 85% of Peter Thomas Roth’s subscribed mobile audience was RCS-enabled, with 15% of the list defaulting to SMS messaging. The results highlight the importance of identifying the RCS-addressable portion of a brand’s subscriber base before testing in order to have even 50/50 test groups across RCS/SMS.Messaging Efficiency: Branded sender names, URLs, and call-to-action buttons don’t count toward an RCS message’s character limit, so content that would be billed as two or more SMS messages can often go out as a single RCS message.

The campaigns also provided an important lesson for brands evaluating RCS: performance should be assessed across multiple sends rather than a single test. As customers become familiar with the verified sender and richer messaging experience, engagement patterns can continue to develop.

“With RCS, we can elevate the mobile messaging experience, showcasing products, highlighting promotions, and delivering tailored, personalized messages,” said Rochelle Jacobs, Managing Director, Peter Thomas Roth. “Together with our partners at Listrak, we are excited to embrace the latest in messaging technology, creating real-time consumer communications that drive results.”

“Listrak was the first marketing platform provider to launch an RCS campaign in the U.S., and we are now at the inflection point where it is becoming imperative for brands who want to build relationships with their customers to adopt RCS,” said Ross Kramer, co-founder and CEO, Listrak. “The team at Peter Thomas Roth is at the forefront, leveraging the latest innovations to connect with consumers in meaningful ways.”

About Peter Thomas Roth

PETER THOMAS ROTH IS CLINICALLY STRONGER. An influential segment leader in the beauty industry for 30 years, Peter Thomas Roth has become one of the largest independent prestige skin care brands in the USA and continues to corner the clinical market as a groundbreaking, results-focused innovator. Ingredients sourced from all over the world are formulated at the highest percentage possible to provide maximum results for flawless, healthier-looking skin. Today, Peter Thomas Roth products are sold globally and nationwide at retailers such as Sephora and Ulta Beauty. Peter Thomas Roth’s clinically stronger formulas have garnered endless awards and a cult following among millions of beauty insiders spanning generations, ethnicities, skin types and concerns.

About Listrak

Listrak is the cross-channel personalization platform for retail. By unifying customer data, identity, AI, and cross-channel marketing in one platform, Listrak enables retailers to deliver relevant, personalized experiences across email, SMS, RCS, app, web, and in-store. Listrak helps brands win new customers, increase engagement, drive conversions, strengthen loyalty, and grow revenue. Listrak publishes quarterly retail marketing benchmarks, drawn from data across its platform, at https://www.listrak.com/quarterly-benchmarks. For more information, visit https://www.listrak.com/.

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SOURCE Listrak

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