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Datasea Reports Fiscal Year 2026 Results with Gross Profit Up 70.1% and Gross Margin Increased to 10.2% Despite Lower Revenue

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Net Loss Narrowed 57.0% and Operating Cash Flow Turned Positive; Company Also Received an Additional 180-Day Nasdaq Compliance Period

BEIJING, Oct. 5, 2026 /PRNewswire/ — Datasea Intelligent Technology Ltd. (Nasdaq: DTSS) (“Datasea” or the “Company”), a technology company focused on acoustic intelligence and AI-powered multimodal and agent-based digital solutions, today announced its financial results for the fiscal year ended June 30, 2026. Additional details will be available in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission.

Fiscal Year 2026 Financial Highlights

Revenue: Approximately $40.70 million, compared with approximately $71.62 million in fiscal 2025, representing a decrease of 43.17%. The decline primarily reflected the Company’s deliberate reduction of certain standardized, lower-margin AI multimodal, traffic-related and other digital-service activities as part of an active business-mix optimization strategy.

Gross Profit: Approximately $4.16 million, compared with approximately $2.44 million in fiscal 2025, representing an increase of 70.09%, despite the decline in overall revenue.

Gross Margin: Increased to 10.21% from 3.41% in fiscal 2025, an improvement of approximately 6.8 percentage points, primarily reflecting a reduced contribution from lower-margin standardized services and a greater relative contribution from customized solutions, acoustic-related products and services, and other activities.

Cost of Revenues: Decreased approximately 47.2% year-over-year, at a rate greater than the 43.17% decrease in revenue, contributing to the significant improvement in gross profit and gross margin.

Operating Expenses: Decreased approximately 15.0% to $6.46 million from approximately $7.60 million in fiscal 2025. Selling expenses declined approximately 38.5%, while general and administrative expenses declined approximately 43.1%.

Research and Development: Increased approximately 180.3% to $2.57 million from approximately $0.91 million in fiscal 2025, reflecting continued investment in acoustic intelligence, NeuroVibe, biofeedback and brain-computer-interface-related technologies, acoustic signal enhancement, product engineering, AI multimodal perception and AI-agent technologies.

Operating Loss: Narrowed to approximately $2.30 million from approximately $5.15 million in fiscal 2025, representing an improvement of approximately 55.3%.

Net Loss Attributable to the Company: Narrowed to approximately $2.19 million from approximately $5.09 million in fiscal 2025, representing an improvement of approximately 57.0%.

Operating Cash Flow: Net cash provided by operating activities was approximately $1.98 million, compared with net cash used in operating activities of approximately $2.37 million in fiscal 2025, representing a year-over-year improvement of approximately $4.35 million.

Management Commentary

Ms. Zhixin Liu, Chief Executive Officer of Datasea, commented:

“Fiscal 2026 was an important year in the evolution of Datasea’s business model. Our reported revenue declined during the year. However, we believe revenue alone does not fully reflect the progress made in the underlying quality of our business. Cost of revenues declined faster than revenue, gross profit increased approximately 70%, and gross margin improved from 3.41% to 10.21%. These results reflect the financial impact of our efforts to improve our business mix and focus more closely on profitability and sustainable value creation.”

“We also continued to improve operating efficiency. Selling and general and administrative expenses declined substantially, while we simultaneously increased research and development spending by approximately 180%. This reflects an important shift in how we allocate capital and operating resources — reducing lower-efficiency expenditures while continuing to invest aggressively in technologies and products that we believe can support Datasea’s long-term growth.”

“Importantly, these changes translated into a meaningful improvement in our bottom line. Operating loss narrowed by approximately 55%, net loss narrowed by approximately 57%, and operating cash flow turned positive for the fiscal year. While we have not yet reached profitability, we believe the significant narrowing of losses, together with higher gross margins and improved operating cash flow, represents meaningful progress toward a more balanced and sustainable earnings model.”

The Company also recently received an additional 180-calendar-day compliance period from Nasdaq to regain compliance with the minimum bid price requirement until March 22, 2027. The additional compliance period provides the Company with further time to regain compliance in accordance with Nasdaq Listing Rule 5550(a)(2).

Investment in Technology and Future Growth

Rather than broadly reducing investment in response to lower revenue, Datasea continued to increase resources allocated to core technology development.

Research and development expenses increased to approximately $2.57 million in fiscal 2026, compared with approximately $0.91 million in fiscal 2025.

The Company’s R&D activities during the year focused principally on acoustic intelligence, NeuroVibe and related biofeedback and brain-computer-interface technologies, acoustic signal enhancement, product engineering, AI multimodal perception, and AI-agent technologies and platform capabilities.

Datasea believes this resource allocation supports its longer-term strategy of transitioning from volume-driven digital services toward a portfolio with greater technology differentiation, stronger product capabilities and improved value-added potential.

Business Outlook

Looking ahead, Datasea intends to continue pursuing disciplined growth across its two principal technology platforms:

Acoustic Intelligence: Continue product development, engineering, regulatory advancement and commercialization of acoustic healthcare and acoustic medical applications, including the NeuroVibe platform, while expanding the potential application of the Company’s acoustic technologies across additional healthcare and industry scenarios.

AI Multimodal and AI-Agent Solutions: Continue shifting toward higher-value customized digital solutions and AI-agent services designed to support enterprise customer operations, marketing execution, customer interaction, data analysis and other recurring business processes.

The Company believes fiscal 2026 represents an important stage in its transition toward a more technology-driven, higher-margin and operationally efficient business model. The pace and ultimate success of this transition will depend on customer adoption, commercialization progress, operating costs, market conditions and the Company’s ability to convert its developing technologies and products into sustainable revenue and cash flow.

About Datasea Intelligent Technology Ltd.

Datasea Intelligent Technology Ltd. (Nasdaq: DTSS) is a technology company focused on acoustic intelligence and AI-powered multimodal and agent-based digital solutions.

The Company is developing and commercializing acoustic technologies across healthcare, medical and other application scenarios while continuing to advance AI multimodal technologies and AI-agent solutions designed to support enterprise digital operations and customer-service applications.

Through continued investment in technology development, product engineering and commercialization, Datasea seeks to build scalable technology platforms and higher-value products and services for customers in China, the United States and other markets.

For additional information, please visit www.dataseainc.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements involving risks and uncertainties, including but not limited to statements regarding the commercialization progress of the Company’s products in target markets, compliance with regulatory obligations, market validation results, product iteration plans, channel development, application expansion and future business prospects. Actual results may differ materially from those expressed or implied by these forward-looking statements. Investors should not place undue reliance on these statements. Further information regarding risks and uncertainties is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement except as required by applicable law.

Investor and Media Contact:  

Datasea Investor Relations
Email:  investorrelations@shuhaixinxi.com 
            sunhezhi@shuhaixinxi.com 

Precept Investor Relations LLC
David Rudnick
+1 646-694-8538
david.rudnick@preceptir.com

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SOURCE Datasea Inc.

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SOXAI RING X Tops US$635,200 in Kickstarter Pledges, Attracts 2,868 Backers in First 72 Hours

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After passing US$400,000 from 2,000 backers on its first day, the Japanese smart ring brand makes its international debut with a 5.19 mm-wide ring offering up to 10 days of battery life.

YOKOHAMA, Japan, Oct. 5, 2026 /PRNewswire/ — SOXAI Inc. today announced that its SOXAI RING X smart ring has surpassed US$635,200 in pledges from 2,868 backers within 72 hours of its Kickstarter launch, after attracting 2,000 backers and more than US$400,000 in its first 24 hours.

With more than 80,000 users, SOXAI is Japan’s No. 1 smart ring brand by cumulative app downloads[1]. SOXAI RING X marks the company’s international debut, bringing together a width of just 5.19 mm—the narrowest in its category[2]—and up to 10 days of battery life[3].

Led by founder and CEO Dr. Tatsuhiko Watanabe, a former researcher at ETH Zurich, SOXAI develops its hardware, software and data analysis technologies together.

Proven Power Efficiency, Now in a Slimmer Ring

Low-power design is one of SOXAI’s core engineering strengths. Its previous model, SOXAI RING 2, is already on the market and delivers up to 15 days of continuous use on a single charge—among the longest battery lives in the smart ring category.

SOXAI RING X builds on that experience, applying the company’s expertise in power-efficient hardware and software to a more compact design. Users can review their sleep and activity in the companion app.

Original Engineering, Japanese Manufacturing

SOXAI RING X is an original product developed by SOXAI, not a rebranded white-label device.

SOXAI designs the ring’s physical structure and functionality, developing its hardware, software and data analysis as a complete system. Manufacturing and testing are planned to take place in Japan, alongside ongoing data management and customer support.

A working prototype is already complete.

A Japanese Brand with a Focus on Sleep

Sleep has been central to SOXAI’s product development. Japan’s Ministry of Health, Labour and Welfare cites a 2021 survey in which Japan recorded the shortest average sleep duration among the 33 countries surveyed.

Joint research with the University of Tokyo and the University of Essex has examined sleep-stage estimation using heart rate and movement data from an earlier SOXAI RING model, with findings published in an academic journal. Studies of blood oxygen saturation (SpO2) measurement at rest and heart rate estimation during physical activity have also been published in academic journals.

These findings relate to earlier products and related technologies; they are not test results for SOXAI RING X.

From Japan to the World

The Kickstarter campaign is SOXAI’s first step toward bringing its experience in Japanese product development and manufacturing to an international audience. Backer demand will help guide the company’s rollout, including which countries and regions to prioritize.

Kickstarter Campaign Details

Project: SOXAI RING X: World’s Smallest, Up to 10-Day Battery
Campaign period: October 2, 2026, at 8:30 p.m. through October 10, 2026, at 11:59 p.m. Japan Standard Time (UTC+9).
Project page: SOXAI RING X on Kickstarter

[1] Based on cumulative downloads of smart ring apps in Japan from January 2022 through December 2024, across the App Store and Google Play combined. Source: SOXAI research.

[2] Based on a comparison of ring widths publicly reported by major manufacturers of smart rings with vital-sign sensing capabilities. Source: SOXAI research, as of September 2026.

[3] Up to 10 days is a theoretical battery-life estimate for US ring sizes 10–13. Actual battery life varies depending on ring size, usage, product age and other factors.

SOXAI RING X is not a medical device and is not intended to diagnose, treat or prevent any disease. Countries and regions eligible for shipping and use will be determined based on applicable wireless regulatory certifications and other requirements.

About SOXAI

SOXAI Inc. is a smart ring company based in Yokohama, Japan, led by founder and CEO Dr. Tatsuhiko Watanabe. With more than 80,000 users, SOXAI combines expertise in low-power hardware design, software and data analysis to help people better understand their sleep, activity and everyday well-being.

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SOURCE SOXAI Inc.

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Canadian Alliance for Regulated Gaming launches to put Canadians first in a fast-changing market challenged by illegal gambling

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New industry association will advance player health, consumer protection and evidence-based gaming policy

MONCTON, NB, Oct. 5, 2026 /CNW/ — The Canadian Alliance for Regulated Gaming (CARG) today announced its official launch as a national not-for-profit industry association representing members of the legal and regulated gambling industry in Canada.

Formerly the Canadian Lottery Coalition (CLC), the organization has evolved into the Canadian Alliance for Regulated Gaming to reflect the rapid transformation of Canada’s gaming landscape.

Founded by publicly owned lottery and gaming organizations that return all profits to their provinces to help fund critical public services, CARG provides a unified national forum for collaboration, research, public education and policy engagement on the issues shaping Canada’s gambling sector.

As gambling markets evolve, CARG will work with governments, regulators, industry stakeholders and communities to advance public-interest policies that promote player health, strengthen consumer protection and support effective legislation, regulation and enforcement. Illegal online gambling operators, increased advertising, emerging products such as prediction markets, and evolving technologies are creating new challenges for policymakers and growing risks for consumers, requiring coordinated action across jurisdictions.

“The Alliance was created in recognition of the increasingly complex and national nature of many industry-related issues and the importance of ensuring there is a strong, unified voice representing legal and regulated gaming organizations,” said Molly Cormier, Executive Director of the Canadian Alliance for Regulated Gaming.

“Canada’s gambling landscape is changing at an unprecedented pace, while illegal and unregulated operators create growing risks for consumers and communities. Canadians must be at the centre of how we respond. By bringing together governments, regulators and industry leaders, we can help ensure the public interest continues to drive the future of gambling policy in Canada.”

As membership expands, CARG will welcome additional voices from across the legal and regulated gaming ecosystem, fostering collaboration and informed dialogue while remaining grounded in the public interest.

The organization also launched its new website today, providing stakeholders, policymakers, media and the public with access to information about CARG’s mandate, policy positions and ongoing work.

To learn more, visit www.carg-ajcr.ca.

About the Canadian Alliance for Regulated Gaming

The Canadian Alliance for Regulated Gaming (CARG) is a national not-for-profit industry association representing legal and regulated gaming organizations across Canada. Formerly the Canadian Lottery Coalition (CLC), CARG provides a forum for collaboration, policy development, public awareness and advocacy in support of responsible, legal and publicly accountable gaming in Canada. Through research, public education and policy engagement, the Alliance advances evidence-based solutions that promote player health, strengthen consumer protection and accountability, and support a gambling sector that serves the public interest.

Media Contact

Molly Cormier
Executive Director
Canadian Alliance for Regulated Gaming (formerly Canadian Lottery Coalition)
executivedirector@canadianlotterycoalition.ca 
506.431.6511
carg-ajcr.ca

SOURCE Canadian Alliance for Regulated Gaming

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Bitso Processes 15% of US-Mexico Remittances

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From January to August 2026, roughly one in every seven dollars sent through this corridor moved through Bitso’s infrastructure.

MEXICO CITY, Oct. 5, 2026 /PRNewswire/ — Bitso, Latin America’s leading digital financial services company, processed 14.7% of all remittances sent from the United States to Mexico in the first eight months of 2026, based on Banco de México (Banxico) figures. The result reflects the growth of Bitso Business, the company’s B2B payments unit.

Unlike a traditional direct-to-consumer remittance service, Bitso operates as part of the infrastructure that enables remittance companies and other financial providers to move money between the United States and Mexico. Its technology uses digital assets and stablecoins as rails to transfer value across borders and settle in local currency, reducing the friction of moving money internationally.

Remittances are one of Mexico’s main sources of foreign currency and account for about 4% of GDP. According to Banxico, Mexico received US$41.8 billion in remittances between January and August 2026, up 2.2% year over year. Of that total, 99.1% (US$41.4 billion) arrived through electronic transfers.

In 2024, Bitso estimated it was processing more than 10% of US–Mexico corridor volume through Bitso Business and the companies that use its technology for international payments.

“Close to 15% of US–Mexico remittances now run through our infrastructure. That shows digital assets are no longer a niche technology. They are becoming part of the financial infrastructure that moves money in Latin America. Most people receiving a remittance never see the technology behind it. What matters is that their money arrives faster, more efficiently and more securely,” said Felipe Vallejo, CEO of Bitso Mexico.

About Bitso

Bitso is Latin America’s leading digital financial services group, serving more than 10 million users and over 2,000 institutional clients through a regulated financial infrastructure built for the digital economy.
Through its ecosystem of specialized companies, including Nvío, Nvierte, and Juno, Bitso provides consumers with access to digital assets, equities, and investment products, while enabling businesses and financial institutions to process local and cross-border payments at scale.
Founded in 2014, Bitso operates across North, Central, and South America and Europe.

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SOURCE Bitso

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