Niu Technologies Announces Unaudited Fourth Quarter and Full Year 2025 Financial Results

— Fourth Quarter Revenues of RMB 676.2 million, down 17.4% year over year

— Fourth Quarter Net Loss of RMB 88.1 million, compared with RMB 72.5 million in the same period of 202
4

— Full Year Revenues of RMB 4,307.9 million, up 31.0% year over year

— Full Year Net Loss of RMB 39.4 million, compared with RMB 193.2 million in 2024

BEIJING, March 16, 2026 (GLOBE NEWSWIRE) — Niu Technologies (“NIU” or “the Company”) (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2025.

Fourth Quarter 2025 Financial Highlights

  • Revenues were RMB 676.2 million, a decrease of 17.4% year over year
  • Gross margin was 15.3%, compared with 12.4% in the fourth quarter of 2024
  • Net loss was RMB 88.1 million, compared with a net loss of RMB 72.5 million in the fourth quarter of 2024
  • Adjusted net loss (non-GAAP)
    1 was RMB 82.4 million, compared with an adjusted net loss of RMB 66.7 million in the fourth quarter of 2024

Fourth Quarter 2025 Operating Highlights

  • The number of e-scooters sold was 172,763, down 23.8% year over year2
  • The number of e-scooters sold in China was 158,782, down 12.9% year over year
  • The number of e-scooters sold in the international markets was 13,981, down 68.4% year over year2
  • The number of franchised stores in China was 4,540 as of December 31, 2025

Dr. Yan Li, Chief Executive Officer of the Company, remarked, “Our China operations sustained robust growth throughout 2025, building strongly on last year’s momentum. Our latest products continue to set market trends by fusing pioneering technology with NIU’s signature design, ensuring the resilience of our business in a dynamic market. Our expanding portfolio is laying a highly scalable foundation to capture new consumer segments and drive the strategic expansion of our retail presence this year.”

Dr. Li continued, “Internationally, we are optimizing our retail footprint by accelerating the roll-out of electric motorcycles while streamlining micromobility operations to maximize efficiency. Overall, we are confident to deliver a sustained performance across both our domestic and overseas markets in 2026.”

Fourth Quarter 2025 Financial Results

Revenues reached RMB 676.2 million, representing a 17.4% decrease year over year. This decrease was primarily driven by a 23.8% decrease in sales volume, partially offset by a 4.0% increase in revenues per e-scooter. The following table shows the revenue breakdown and revenues per e-scooter in the periods presented:

Revenues

(in RMB million)
  2025

Q4
  2024

Q4
  % change
YoY
E-scooter sales from China market   544.8   646.2   -15.7%
E-scooter sales from international markets   36.3   87.2   -58.3%
E-scooter sales, sub-total   581.1   733.4   -20.8%
Accessories, spare parts and services   95.1   85.8   +10.9%
Total   676.2   819.2   -17.4%

Revenues per e-scooter

(in RMB)
  2025

Q4
  2024

Q4
  % change

YoY
E-scooter sales from China market3   3,431   3,544   -3.2%
E-scooter sales from international markets3   2,600   1,968   +32.1%
Revenues per e-scooter   3,364   3,236   +4.0%
Accessories, spare parts and services4   550   379   +45.1%
Blended revenues per e-scooter (including accessories, spare parts and services)   3,914   3,615   +8.3%
             
  • E-scooter sales revenues from China market were RMB 544.8 million, a decrease of 15.7% year over year, representing 93.7% of total e-scooter revenues. The decrease was mainly due to a 12.9% decline in sales volume and a 3.2% decrease in revenues per e-scooter in China market.
  • E-scooter sales revenues from international markets were RMB 36.3 million, a decrease of 58.3% year over year, representing 6.3% of total e-scooter revenues. The decrease was mainly due to lower sales volume and reduced revenues per e-scooter for kick-scooters in international markets.
  • Accessories, spare parts and services revenues were RMB 95.1 million, an increase of 10.9% year over year, representing 14.1% of total revenues. The increase was primarily driven by higher revenues from Niu App services, as well as from accessories and spare parts sales in China market.
  • Revenues per e-scooter were RMB 3,364, an increase of 4.0% year over year. This increase was primarily due to a higher sales proportion attributable to China market, partially offset by a slight decrease in revenues per e-scooter within China.

Cost of revenues was RMB 573.0 million, a decrease of 20.1% year over year, mainly due to lower sales volume. The cost per e-scooter, defined as cost of revenues divided by the number of e-scooters sold in a specific period, was RMB 3,317, an increase of 4.8% from RMB 3,165 in the fourth quarter of 2024. This increase was mainly due to provisions for slow-moving inventory and higher freight costs in international markets, partially offset by cost-reduction initiatives in China market.

Gross margin was 15.3%, compared with 12.4% in the same period of 2024. The increase was primarily attributable to China market, driven by a favorable product mix shift towards higher-margin e-scooters and effective cost-reduction initiatives. This was partially offset by lower gross margin for kick-scooters in international markets.

Operating expenses were RMB 206.1 million, an increase of 6.8% from the same period of 2024. Operating expenses as a percentage of revenues were 30.5%, compared with 23.6% in the fourth quarter of 2024.

  • Selling and marketing expenses were RMB 144.1 million (including RMB 0.9 million of share-based compensation expenses), an increase of 5.7% from RMB 136.3 million in the fourth quarter of 2024, mainly due to an increase of RMB 12.1 million in rental expenses, primarily in international markets, RMB 9.3 million in staff costs, and RMB 3.7 million in depreciation and amortization, partially offset by a decrease of RMB 19.1 million in advertising and promotion expenses primarily in China market. Selling and marketing expenses as a percentage of revenues were 21.3%, compared with 16.6% in the fourth quarter of 2024.
  • Research and development expenses were RMB 49.5 million (including RMB 2.3 million of share-based compensation expenses), an increase of 28.2% from RMB 38.6 million in the fourth quarter of 2024, mainly due to an increase of RMB 6.5 million in staff costs and share-based compensation, and RMB 4.4 million in design and testing expenses. Research and development expenses as a percentage of revenues were 7.3%, compared with 4.7% in the fourth quarter of 2024.
  • General and administrative expenses were RMB 12.5 million (including RMB 2.4 million of share-based compensation expenses), a decrease of 31.0% from RMB 18.1 million in the fourth quarter of 2024, mainly due to a decrease of RMB 14.8 million in taxes and surcharges, partially offset by an increase of RMB 11.2 million in foreign exchange losses. General and administrative expenses as a percentage of revenues were 1.8%, compared with 2.2% in the fourth quarter of 2024.

Operating expenses excluding share-based compensation
expenses were RMB 200.6 million, an increase of 7.1% year over year, representing 29.7% of revenues, compared with 22.9% in the fourth quarter of 2024.

  • Selling and marketing expenses excluding share-based compensation
    expenses were RMB 143.2 million, an increase of 6.1% year over year, representing 21.2% of revenues, compared with 16.5% in the fourth quarter of 2024.
  • Research and development expenses excluding share-based compensation
    expenses were RMB 47.3 million, an increase of 29.3% year over year, representing 7.0% of revenues, compared with 4.5% in the fourth quarter of 2024.
  • General and administrative expenses excluding share-based compensation were RMB 10.1 million, a decrease of 36.2% year over year, representing 1.5% of revenues, compared with 1.9% in the fourth quarter of 2024.

Share-based compensation
expenses were RMB 5.7 million, compared with RMB 5.9 million in the same period of 2024.

Income tax benefit was RMB 8.0 million, compared with RMB 9.8 million in the same period of 2024.

Net loss was RMB 88.1 million, compared with RMB 72.5 million in the fourth quarter of 2024. The net loss margin was 13.0%, compared with 8.9% in the same period of 2024.

Adjusted net loss (non-GAAP) was RMB 82.4 million, compared with RMB 66.7 million in the fourth quarter of 2024. The adjusted net loss margin5 was 12.2%, compared with 8.1% in the same period of 2024.

Basic and diluted net loss per ADS were both RMB 1.10 (US$ 0.16).

Full Year 2025 Financial Results

Revenues were RMB 4,307.9 million, representing a 31.0% increase year over year. This growth was primarily driven by a 29.0% increase in sales volume, complemented by a 2.1% increase in revenues per e-scooter. E-scooter sales revenues from China market and international markets represented 93.2% and 6.8% of our total revenues from e-scooter sales, respectively. The following table shows the revenue breakdown and revenues per e-scooter in the years presented:

Revenues

(in RMB million)
  2025

Full Year
  2024

Full Year
  % change
YoY
E-scooter sales from China market   3,630.0   2,563.6   +41.6%
E-scooter sales from international markets   266.5   396.9   -32.9%
E-scooter sales, sub-total   3,896.5   2,960.5   +31.6%
Accessories, spare parts and services   411.4   327.8   +25.5%
Total   4,307.9   3,288.3   +31.0%

Revenues per e-scooter

(in RMB)
  2025

Full Year
  2024

Full Year
  % change

YoY
E-scooter sales from China market3   3,264   3,377   -3.3%
E-scooter sales from international markets3   3,330   2,402   +38.6%
Revenues per e-scooter   3,269   3,203   +2.1%
Accessories, spare parts and services4   345   354   -2.8%
Blended revenues per e-scooter (including accessories, spare parts and services)   3,614   3,557   +1.6%
             

Cost of revenues was RMB 3,464.3 million, an increase of 24.2% year over year, mainly due to higher e-scooter sales volume. The cost per e-scooter, defined as cost of revenues divided by the number of e-scooters sold in a specific period, was RMB 2,906, a decrease of 3.7% from RMB 3,018 in 2024.

Gross margin was 19.6%, compared with 15.2% in 2024. The increase was primarily driven by China market, reflecting a strategic shift in product mix towards higher-margin e-scooters and our continued cost-optimization initiatives. This was partially offset by a lower gross margin for kick-scooters in international markets.

Operating expenses were RMB 933.2 million, an increase of 24.4% from RMB 750.3 million in 2024. Operating expenses as a percentage of revenues were 21.7%, compared with 22.8% in 2024.

Operating expenses excluding share-based compensation
expenses were RMB 906.3 million, an increase of 24.7% year over year, representing 21.0% of revenues, compared with 22.1% in 2024.

Share-based compensation expenses were RMB 27.7 million, an increase of RMB 3.5 million from RMB 24.2 million in 2024.

Income tax benefit was RMB 23.0 million, compared with RMB 23.6 million in 2024.

Net loss was RMB 39.4 million, compared with RMB 193.2 million in 2024. The net loss margin was 0.9%, compared with 5.9% in 2024.

Adjusted net loss (non-GAAP) was RMB 11.7 million, compared with RMB 169.0 million in 2024. The adjusted net loss margin5 was 0.3%, compared with 5.1% in 2024.

Basic and diluted net loss per ADS were both RMB 0.49 (US$ 0.07).

Balance Sheet

As of December 31, 2025, the Company had cash and cash equivalents, term depositsand short-term investments of RMB 1,115.6 million in aggregate. The Company had restricted cash of RMB 210.9 million and short-term bank borrowings of RMB 240.0 million.

Business Outlook

NIU expects revenues for the first quarter of 2026 to be in the range of RMB 887 million to RMB 1,023 million, representing a year-over-year increase of 30% to 50%. NIU expects sales volume for the full year 2026 to be in the range of 1.7 million to 1.9 million units, representing a year-over-year increase of approximately 40% to 60%.

The above outlook is based on information available as of the date of this press release and reflects the Company’s current and preliminary expectations and is subject to change.

Conference Call

The Company will host an earnings conference call on Monday, March 16, 2026 at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time) to discuss its fourth quarter and full year 2025 financial and business results and provide a corporate update.

To join via phone, participants need to register in advance of the conference call using the link provided below. Upon registration, participants will receive dial-in numbers and a personal PIN, which will be used to join the conference call.

Event:
Niu Technologies Fourth Quarter and Full Year 2025 Financial Results Conference Call
Registration Link: https://register-conf.media-server.com/register/BI12f59df276994aebae3a0f8be5db53de
   

A live and archived webcast of the conference call will be available on the investor relations website at https://ir.niu.com/news-and-events/webcasts-and-presentations.

About NIU

As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance electric motorcycles, mopeds, bicycles, as well as kick-scooters and e-bikes. NIU has a diversified product portfolio that caters to the various demands of our users and addresses different urban travel scenarios. Currently, NIU offers two model lineups, comprising a number of different vehicle types. These include (i) the electric motorcycle, moped and bicycle series, including the NQi, MQi, UQi, FQi series and others, and (ii) the micro-mobility series, including the kick-scooter series KQi and the e-bike series BQi. NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell its products and provide services to users.

For more information, please visit www.niu.com.

Use of Non-GAAP Financial Measures

To supplement NIU’s consolidated financial results presented in accordance with the accounting principles generally accepted in the United States of America (“GAAP”), NIU uses the following non-GAAP financial measures: adjusted net income (loss) and adjusted net income (loss) margin. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. NIU believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding certain items that may not be indicative of its operating results. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to NIU’s historical performance. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that these non-GAAP measures exclude certain items that have been and will continue to be for the foreseeable future a significant component in the Company’s results of operations. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data.

Adjusted net income (loss) is defined as net income (loss) excluding share-based compensation expenses. Adjusted net income (loss) margin is defined as adjusted net income (loss) as a percentage of the revenues.

For more information on non-GAAP financial measures, please see the table captioned “Reconciliation of GAAP and Non-GAAP Results”.

Exchange Rate

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the readers. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB 6.9931 to US$ 1.00, the exchange rate in effect as of December 31, 2025, as set forth in the H.10 Statistical release of the Board of Governors of the Federal Reserve System. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as NIU’s strategic and operational plans, contain forward-looking statements. NIU may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, 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 NIU’s beliefs, plans 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: NIU’s strategies; NIU’s future business development, financial condition and results of operations; NIU’s ability to maintain and enhance its “NIU” brand; its ability to innovate and successfully launch new products and services; its ability to maintain and expand its offline distribution network; its ability to satisfy the mandated safety standards relating to e-scooters; its ability to secure supply of components and raw materials used in e-scooters; its ability to manufacture, launch and sell smart e-scooters meeting customer expectations; its ability to grow collaboration with operation partners; its ability to control costs associated with its operations; general economic and business conditions in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIU’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and NIU does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact:

Niu Technologies
E-mail: [email protected]

NIU TECHNOLOGIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
           
  As of
  December 31,   December 31,   December 31,
  2024
  2025
  2025
  RMB   RMB   US$
ASSETS          
Current assets          
Cash and cash equivalents 630,021,303     924,738,132     132,235,794  
Term deposits 274,351,895     128,235,695     18,337,460  
Restricted cash 216,395,796     210,864,000     30,153,151  
Short-term investments     62,661,176     8,960,429  
Accounts receivable, net 131,921,419     37,372,044     5,344,131  
Inventories 649,177,719     652,579,651     93,317,649  
Prepayments and other current assets 267,938,339     343,536,572     49,125,076  
Total current assets 2,169,806,471     2,359,987,270     337,473,690  
           
Non-current assets          
Property, plant and equipment, net 320,013,632     420,173,035     60,083,945  
Intangible assets, net 1,043,801     776,328     111,013  
Operating lease right-of-use assets 71,223,350     75,954,225     10,861,310  
Deferred income tax assets 31,752,254     57,457,432     8,216,303  
Other non-current assets 19,318,659     35,988,114     5,146,232  
Total non-current assets 443,351,696     590,349,134     84,418,803  
           
Total assets 2,613,158,167     2,950,336,404     421,892,493  
           
LIABILITIES          
Current liabilities          
Short-term bank borrowings 200,000,000     240,000,000     34,319,544  
Notes payable 294,348,768     394,285,714     56,382,107  
Accounts payable 869,015,140     704,089,088     100,683,400  
Income taxes payable 1,071,914     2,197,710     314,268  
Advances from customers 35,892,860     182,598,444     26,111,230  
Deferred revenue-current 50,247,103     75,148,049     10,746,028  
Accrued expenses and other current liabilities 201,356,008     404,813,611     57,887,575  
Total current liabilities 1,651,931,793     2,003,132,616     286,444,152  
           
Deferred revenue-non-current 16,886,859     23,316,175     3,334,169  
Deferred income tax liabilities 3,269,464     2,057,892     294,275  
Operating lease liabilities 89,990     3,956,501     565,772  
Other non-current liabilities 9,697,841     12,941,916     1,850,669  
Total non-current liabilities 29,944,154     42,272,484     6,044,885  
           
Total liabilities 1,681,875,947     2,045,405,100     292,489,037  
           
SHAREHOLDERS’ EQUITY:          
Class A ordinary shares 90,549     91,796     13,127  
Class B ordinary shares 10,316     9,504     1,359  
Additional paid-in capital 1,988,638,160     2,016,533,709     288,360,485  
Accumulated other comprehensive loss (3,129,362 )   (17,990,674 )   (2,572,632 )
Accumulated deficit (1,054,327,443 )   (1,093,713,031 )   (156,398,883 )
Total shareholders’ equity 931,282,220     904,931,304     129,403,456  
           
Total liabilities and shareholders’ equity 2,613,158,167     2,950,336,404     421,892,493  
           

NIU TECHNOLOGIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
                   
  Three Months Ended December 31,   Year Ended December 31,
  2024
  2025
  2024
  2025
  RMB   RMB US$   RMB   RMB US$
Revenues 819,179,677     676,247,493   96,702,105     3,288,296,344     4,307,865,498   616,016,573  
Cost of revenues(a) (717,195,572 )   (573,044,436 ) (81,944,264 )   (2,789,533,350 )   (3,464,294,613 ) (495,387,541 )
Gross profit 101,984,105     103,203,057   14,757,841     498,762,994     843,570,885   120,629,032  
                   
Operating expenses:                  
Selling and marketing expenses(a) (136,342,357 )   (144,124,497 ) (20,609,529 )   (489,577,690 )   (675,769,295 ) (96,633,724 )
Research and development expenses(a) (38,622,708 )   (49,529,896 ) (7,082,681 )   (130,111,359 )   (166,452,286 ) (23,802,360 )
General and administrative expenses(a) (18,075,985 )   (12,463,572 ) (1,782,267 )   (130,617,629 )   (90,963,018 ) (13,007,539 )
Total operating expenses (193,041,050 )   (206,117,965 ) (29,474,477 )   (750,306,678 )   (933,184,599 ) (133,443,623 )
Government grants 387,800     282,812   40,442     911,556     1,366,650   195,428  
Operating loss (90,669,145 )   (102,632,096 ) (14,676,194 )   (250,632,128 )   (88,247,064 ) (12,619,163 )
                   
Interest expenses (1,598,640 )   (1,807,591 ) (258,482 )   (5,623,544 )   (6,130,439 ) (876,641 )
Interest income 9,559,430     6,329,914   905,166     37,089,488     26,464,512   3,784,375  
Investment income 371,460     2,001,403   286,197     2,358,995     5,543,812   792,755  
Loss before income taxes (82,336,895 )   (96,108,370 ) (13,743,313 )   (216,807,189 )   (62,369,179 ) (8,918,674 )
Income tax benefit 9,798,826     7,999,794   1,143,955     23,606,550     22,983,591   3,286,610  
Net loss (72,538,069 )   (88,108,576 ) (12,599,358 )   (193,200,639 )   (39,385,588 ) (5,632,064 )
                   
Other comprehensive income (loss)                  
Foreign currency translation adjustment, net of nil income taxes 10,263,988     (1,422,394 ) (203,400 )   6,366,312     (14,861,312 ) (2,125,139 )
Comprehensive loss (62,274,081 )   (89,530,970 ) (12,802,758 )   (186,834,327 )   (54,246,900 ) (7,757,203 )
Net loss per ordinary share                  
—Basic (0.46 )   (0.55 ) (0.08 )   (1.22 )   (0.25 ) (0.04 )
—Diluted (0.46 )   (0.55 ) (0.08 )   (1.22 )   (0.25 ) (0.04 )
Net loss per ADS                  
—Basic (0.91 )   (1.10 ) (0.16 )   (2.44 )   (0.49 ) (0.07 )
—Diluted (0.91 )   (1.10 ) (0.16 )   (2.44 )   (0.49 ) (0.07 )
                   
Weighted average number of ordinary shares and ordinary shares equivalents outstanding used in computing net loss per ordinary share
—Basic 158,924,842     160,034,451   160,034,451     158,460,242     159,714,698   159,714,698  
—Diluted 158,924,842     160,034,451   160,034,451     158,460,242     159,714,698   159,714,698  
Weighted average number of ADS outstanding used in computing net loss per ADS            
—Basic 79,462,421     80,017,226   80,017,226     79,230,121     79,857,349   79,857,349  
—Diluted 79,462,421     80,017,226   80,017,226     79,230,121     79,857,349   79,857,349  
                   
Note:                  
(a) Includes share-based compensation expenses as follows:             
  Three Months Ended December 31,   Year Ended December 31,
  2024
  2025
  2024
  2025
  RMB   RMB US$   RMB   RMB US$
Cost of revenues 155,177     156,745   22,414     751,445     858,055   122,700  
Selling and marketing expenses 1,363,601     896,134   128,145     7,110,420     5,396,473   771,685  
Research and development expenses 2,054,764     2,258,971   323,029     7,325,327     9,890,499   1,414,323  
General and administrative expenses 2,281,042     2,383,925   340,897     9,045,786     11,586,370   1,656,829  
Total share-based compensation expenses 5,854,584     5,695,775   814,485     24,232,978     27,731,397   3,965,537  
                   

NIU TECHNOLOGIES
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
                   
  Three Months Ended December 31,   Year Ended December 31,
  2024
  2025
  2024
  2025
  RMB   RMB US$   RMB   RMB US$
Net loss (72,538,069 )   (88,108,576 ) (12,599,358 )   (193,200,639 )   (39,385,588 ) (5,632,064 )
Add:                  
Share-based compensation expenses 5,854,584     5,695,775   814,485     24,232,978     27,731,397   3,965,537  
Adjusted net loss (66,683,485 )   (82,412,801 ) (11,784,873 )   (168,967,661 )   (11,654,191 ) (1,666,527 )
                   

________________
1 Adjusted net income (loss) (non-GAAP) is defined as net income (loss) excluding share-based compensation expenses 
2 The discrepancy in the total number of e-scooters sold in the fourth quarter of 2025 disclosed herein and the sales volume disclosed in the Company’s press release on sales volume update dated January 5, 2026 was due to adjustments made for certain product returns in international markets that occurred subsequently in the first quarter of 2026. This adjustment was made in order to better align with the revenue recognized for product sales during the fourth quarter of 2025.
3 Revenues per e-scooter on e-scooter sales from China or international markets is defined as e-scooter sales revenues from China or international markets divided by the number of e-scooters sold in China or international market in a specific period
4 Revenues per e-scooter on accessories, spare parts and services is defined as accessories, spare parts and services revenues divided by the total number of e-scooters sold in a specific period
5 Adjusted net income (loss) margin is defined as adjusted net income (loss) (non-GAAP) as a percentage of the revenues



CoStar Group Appoints Nana Banerjee to Its Board of Directors

CoStar Group Appoints Nana Banerjee to Its Board of Directors

Appointment Brings Additional Experience in AI and Advanced Analytics to the Board as the Company Advances its Long-Term Growth Strategy

ARLINGTON, Va,–(BUSINESS WIRE)–
CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, analytics, and 3D digital twin technology in the property markets, today announced that Nana Banerjee has been appointed as a new independent member of the Company’s Board of Directors (the “Board”), effective immediately. With this appointment, the Board expands to nine directors, eight of whom are independent.

Nana Banerjee brings more than two decades of experience leading and scaling global technology and data-driven businesses to the Board. Most recently, he served as President and Chief Executive Officer of Pelmorex Corp., a global weather and climate data company best known for The Weather Network, where he successfully led the company’s transformation with market leading AI-native offerings. He previously served as a Senior Advisor and Senior Managing Director at Cerberus Capital Management, where he worked with portfolio companies to drive operational efficiencies and enterprise value. In other prior roles, he served as President and Chief Executive Officer of McGraw-Hill, Group President and Chief Analytics Officer at Verisk, Chief Operating Officer of Argus Information & Advisory Services, and the Head of Citibank’s credit card business in the United Kingdom. Additionally, Dr. Banerjee served as Audit Committee Chairman and Non-executive Chairman of Comscore.

“On behalf of the Board, we are pleased to welcome Nana, a highly experienced executive who brings a complementary skillset that aligns with our unique operations and strategy,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group. “Nana is a respected industry leader with deep expertise spanning centralized data, AI, and advanced analytics organizations. We look forward to benefiting from his distinct perspective as we advance our proven strategy to drive accelerated, profitable growth and long-term stockholder value.”

“Nana’s appointment follows a comprehensive search to identify a director who would bring additional C-suite experience in data analytics to the Board as we continue to guide the execution of CoStar Group’s proven value-creation strategy,” said Louise Sams, Independent Chair of the Board. “His appointment reflects the Board’s commitment to regularly adding accomplished leaders that enable the Board to evolve with CoStar Group’s business and help us continue to act in the best interests of the Company and stockholders.”

For more information on CoStar Group’s Board of Directors, visit www.costargroup.com/about-us/leadership.

About CoStar Group

CoStar Group, Inc. (“CoStar Group,” the “Company,” “we,” “us” or “our”) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group’s websites attracted over 139 million average monthly unique visitors in the fourth quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar Group’s plans, objectives, expectations, beliefs and intentions and other statements including words such as “hope,” “anticipate,” “may,” “likely,” “might,” “believe,” “expect,” “observe,” “consider,” “think,” “intend,” “envision,” “will,” “should,” “could,” “would,” “plan,” “target,” “goal,” “estimate,” “predict,” “continue,” “commit,” and “potential” or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar Group and are subject to many risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements and the assumptions and estimates used as a basis for the forward-looking statements. The following factors, among others, could cause or contribute to such differences: our inability to attract and retain new clients; our inability to successfully develop and introduce new or updated online marketplace services, information, and analytics; our inability to compete successfully against existing or future competitors in attracting advertisers and in general; the effects of fluctuations and market cyclicality; the effects of global economic uncertainties and downturns or a downturn or consolidation in the real estate industry; our inability to hire qualified persons for, or retain and continue to develop our sales force, or unproductivity of our sales force; our inability to retain and attract highly capable management and operating personnel; the downward pressure that our internal and external investments may place on our operating margins; our inability to increase brand awareness; our inability to maintain or increase internet traffic to our marketplaces, and the risk that the methods, including Google Analytics, that we use to measure average monthly unique visitors to our portals may misstate the actual number of unique persons who visit our network of mobile applications and websites for a given month or may differ from the methods used by competitors; our inability to attract new advertisers; our inability to successfully identify, finance, integrate, and/or manage costs related to acquisitions; our inability to complete certain strategic transactions if a proposed transaction is subject to review or approval by regulatory authorities pursuant to applicable laws or regulations; our inability to realize the benefits of the acquisition of Matterport; the effects of cyberattacks and security vulnerabilities, and technical problems or disruptions; the significant costs associated with undertaking a large infrastructure project to build out our campus in Richmond, Virginia; our inability to generate increased revenues from our current or future geographic expansion plans; the risks related to acceptance of credit cards and debit cards and facilitation of other customer payments; the effects of climate related events and other events beyond our control; the effects related to attention to climate-related risks and opportunities; our inability to obtain and maintain accurate, comprehensive, or reliable data; our inability to obtain and maintain stable data feeds, or disruption of our data feeds; our inability to enforce or defend our ownership and use of intellectual property; the effects of use of new and evolving technologies, including artificial intelligence, on our ability to protect our data and intellectual property from misappropriation by third parties; our inability to defend against potential legal liability for collecting, displaying, or distributing information; our inability to obtain or retain listings from real estate brokers, agents, property owners, and apartment property managers; our inability to maintain or establish relationships with third-party listing providers; our inability to comply with the rules and compliance requirements of Multiple Listing Services; the risks related to international operations; the effects of foreign currency exchange rate fluctuations; our indebtedness; the effects of a lowering or withdrawal of the ratings assigned to our debt securities by rating agencies; the effects of any actual or perceived failure to comply with privacy laws and standards; the effects of changes in tax laws, regulations, or fiscal and tax policies; the effects of third-party claims, litigation, regulatory proceedings, or government investigations; and risks related to return on investment; the inability of third-party suppliers upon which Matterport relies to fulfill its needs; the risks associated with the ability to integrate Domain Holdings Australia Limited (the “Domain Transaction”) and realize the benefits of the Domain Transaction; and the risks related to open source software. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar Group’s filings from time to time with the SEC, including in CoStar Group’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, each of which is filed with the SEC, including in the “Risk Factors” section of those filings, as well as CoStar Group’s other filings with the SEC (including Current Reports on Form 8-K) available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar Group on the date hereof, and CoStar Group assumes 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.

Investor Relations:

Rich Simonelli

Head of Investor Relations

CoStar Group Investor Relations

(973) 896-8184

[email protected]

News Media:

Matthew Blocher

Vice President

CoStar Group Corporate Marketing & Communications

(202) 346-6775

[email protected]

Mahmoud Siddig, Joseph Sala or Lucas Pers

Joele Frank, Wilkinson Brimmer Katcher

(212) 355-4449

KEYWORDS: United States North America Virginia

INDUSTRY KEYWORDS: Professional Services Technology Data Analytics Commercial Building & Real Estate Software Construction & Property

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Assurant and hollandsnieuwe Introduce New Mobile Device Protection Offering in the Netherlands

Assurant and hollandsnieuwe Introduce New Mobile Device Protection Offering in the Netherlands

AMSTERDAM–(BUSINESS WIRE)–
Assurant, Inc. (NYSE: AIZ), a premier global protection company that safeguards and services connected devices, homes and automobiles in partnership with the world’s leading brands, announced a new partnership with hollandsnieuwe, one of the Netherlands’ top online mobile operators, to bring mobile device protection to hollandsnieuwe customers for the very first time.

This collaboration marks an important milestone in Assurant’s continued expansion in the Dutch market, further strengthening its footprint across key mobile operators and reinforcing its commitment to deliver simple, reliable, and customer‑centric protection solutions across Europe.

With this partnership, hollandsnieuwe customers can protect their devices through two new insurance options:

  • Standard Protection: covering accidental damage

  • Premium Protection: covering accidental damage plus theft & loss

Designed with an online‑first customer journey, the new program provides a seamless, digital experience—from enrollment to claims—ensuring convenience and clarity at every step. To further enhance the experience, customers can also opt for a 1‑working‑day fulfilment service, offering added speed for those who value faster turnaround.

“As hollandsnieuwe introduces device protection for the first time, we are proud to support them with a solution that aligns with their vision for simplicity, transparency, and value,” said Felipe Sanchez, President, Assurant Europe. “This partnership deepens our presence in the Dutch market and reflects our focus on enabling mobile operators to offer high‑quality protection experiences to their customers.”

Maarten Van der Linde, Business Lead Acquisition, hollandsnieuwe said, “Launching device protection is an important step for us, and Assurant’s expertise helps us deliver it with confidence. This partnership enables us to offer our customers a straightforward and reliable protection solution that enhances their overall experience with hollandsnieuwe.”

The collaboration supports Assurant’s broader European growth strategy by expanding distribution channels and strengthening its presence in the mobile insurance ecosystem across the region.

About hollandsnieuwe

We believed the mobile phone market could be different. Why pay top prices for every call minute, MB, or SMS? And why never know exactly what your phone bill will be? The time was right for an honest telecom provider that gives you control over your costs. Since 2011, we’ve made telecom simple again— with a practical approach, straightforward products, and clear communication. We offer a super reliable network at a competitive price. You have 100% control over your prepaid bundle and the costs, with no surprises afterward. For people who want to stay well connected everywhere, but don’t need the most expensive phone or unlimited bundle. People who know what matters to them and what doesn’t and only pay for what they really need.

About Assurant

Assurant, Inc. (NYSE: AIZ) is a premier global protection company that partners with the world’s leading brands to safeguard and service connected devices, homes, and automobiles. As a Fortune 500 company operating in 21 countries, Assurant leverages data-driven technology solutions to provide exceptional customer experiences.

Learn more at assurantnederland.nl

# # #

Media Contacts:

Neeti Dhawan

Director, International Communications

Assurant, Inc.

[email protected]

KEYWORDS: Netherlands Europe

INDUSTRY KEYWORDS: Commercial Building & Real Estate Mobile/Wireless Technology Construction & Property Insurance Automotive General Automotive Telecommunications Professional Services Residential Building & Real Estate

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Accenture Completes Acquisition of Faculty

Accenture Completes Acquisition of Faculty

Dr. Marc Warner assumes role as Accenture’s Chief Technology Officer

LONDON–(BUSINESS WIRE)–
Accenture (NYSE: ACN) has completed the acquisition of Faculty, a leading UK‑based AI company known for its deep technical expertise and pedigree in applying AI safely across public and private sectors to help clients improve services and deliver growth.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260316846208/en/

With the acquisition completed, Faculty CEO and co-founder Dr. Marc Warner expands his role to also become chief technology officer of Accenture and joins the company’s Global Management Committee.

“Now that Faculty is part of Accenture, we will further advance our strategy to be our clients’ reinvention partner of choice and lead in the safe, widespread adoption of AI,” said Julie Sweet, Accenture Chair and CEO. “I look forward to working with our new CTO Marc Warner to shape our technology strategy and execution and attract the best talent in the world to meet our clients’ needs.”

The acquisition expands Accenture’s capabilities to help clients reinvent core and critical business processes with safe, secure and outcome-driven AI solutions. As a result of the acquisition, more than 400 AI native professionals from Faculty—including highly qualified data scientists and AI engineers—join Accenture to help scale world‑class AI capabilities for clients.

“As AI advances rapidly, the next few years will be hugely consequential for the world,” said Dr. Warner. “For any company that isn’t AI-native, thriving will mean a difficult process of adaptation. To succeed, they need partners with an unusual set of capabilities: deep technical expertise, plus the ability to deliver transformation at scale. Together with Accenture, we have created one of the few organizations in the world equipped to lead this historical transition.”

Founded in 2014, Faculty is one of Europe’s leading and longest standing applied AI companies. Its services—which include AI strategy, AI safety and the design, build and implementation of high performance AI systems—support the scaled and safe adoption of AI by client organizations.

Their PhD-heavy team of technical experts has delivered innovative AI systems for public and private sector organizations in the U.K. and globally. For example, Faculty built the UK National Health Service’s (NHS) Early Warning System during the COVID-19 pandemic.

Faculty’s enterprise decision intelligence product, FrontierTM, joins Accenture’s suite of products that help organizations make better, faster decisions by connecting data, AI models and business processes into a unified system. Accenture and Faculty are already working together to support life sciences companies, such as Novartis, to transform the economics of clinical trial planning and execution.

Accenture’s Chief Strategy and Services Officer Manish Sharma added, “By combining our AI capabilities with Faculty’s highly skilled AI talent and products like FrontierTM, we will help clients safely apply and scale AI to reinvent their operations—connecting data, processes, and people to drive faster value and increase competitiveness.”

Terms of the transaction, which Accenture announced on Jan. 6, were not disclosed.

Forward-Looking Statements

Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “aspires,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “goal,” “target” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance nor promises that goals or targets will be met, and involve a number of risks, uncertainties and other factors that are difficult to predict and could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and geopolitical conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining client demand for the company’s solutions and services including through the adaptation and expansion of its solutions and services in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; risks and uncertainties related to the development and use of AI, including advanced AI, could harm the company’s business, damage its reputation or give rise to legal or regulatory action; if Accenture is unable to match people and their skills with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; if Accenture does not successfully manage and develop its relationships with its ecosystem partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; Accenture’s profitability could materially suffer due to pricing pressure, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; Accenture’s debt obligations could adversely affect its business and financial condition; as a result of Accenture’s geographically diverse operations and strategy to continue to grow in key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s solutions or services infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.

About Accenture

Accenture is a leading solutions and services company that helps the world’s leading enterprises reinvent by building their digital core and unleashing the power of AI to create value at speed across the enterprise, bringing together the talent of our approximately 784,000 people, our proprietary assets and platforms, and deep ecosystem relationships. Our strategy is to be the reinvention partner of choice for our clients and to be the most client-focused, AI-enabled, great place to work in the world. Through our Reinvention Services we bring together our capabilities across strategy, consulting, technology, operations, Song and Industry X with our deep industry expertise to create and deliver solutions and services for our clients. Our purpose is to deliver on the promise of technology and human ingenuity, and we measure our success by the 360° value we create for all our stakeholders. Visit us at accenture.com.

Caroline Douglas

Accenture

+353 87 680 0074

[email protected]

Natalie de Freitas

Accenture

+447 38 079 9196

[email protected]

KEYWORDS: United Kingdom Europe

INDUSTRY KEYWORDS: Professional Services Data Management Technology Software Consulting Artificial Intelligence

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Accenture Named Official Partner of Leading Golf Governing Body, The R&A

Accenture Named Official Partner of Leading Golf Governing Body, The R&A

ST. ANDREWS, Scotland–(BUSINESS WIRE)–
The R&A and Accenture (NYSE:ACN) today announced a new six-year partnership which will see Accenture become the Official Business and Technology Consulting Partner of The R&A as well as an Official Patron of some of golf’s most iconic championships—The Open, AIG Women’s Open, and ISPS HANDA Senior Open until 2031.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260316147526/en/

The R&A and Accenture today announced a new six-year partnership which will see Accenture become the Official Business and Technology Consulting Partner of The R&A as well as an Official Patron of some of golf’s most iconic championships—The Open, AIG Women’s Open, and ISPS HANDA Senior Open until 2031.

The R&A and Accenture today announced a new six-year partnership which will see Accenture become the Official Business and Technology Consulting Partner of The R&A as well as an Official Patron of some of golf’s most iconic championships—The Open, AIG Women’s Open, and ISPS HANDA Senior Open until 2031.

As the Official Business and Technology Consulting Partner of The R&A, Accenture will provide business transformation and management consulting services to support its strategic priorities across governance, championships and development of the sport by harnessing deep expertise in digital, cloud, data and artificial intelligence. The partnership will accelerate the use of technology in golf – enhancing insights, operations, and fan and player experiences – to help open the game to more people, in more places, around the world.

Mark Darbon, Chief Executive of The R&A, said: “Accenture has a renowned reputation worldwide for its expertise in technology, data and innovation and we see this partnership as a valuable opportunity to support our strategic priorities in golf and help shape the future of the sport.

“As both an Official Patron of our major championships and our Official Business and Technology Consulting Partner, Accenture will work closely with us to help modernize how we govern and deliver the game, while sharing our ambition to inspire people through world-class championships and showcase golf as a sport for everyone to enjoy.”

Through the partnership, Accenture will provide consultancy support to help modernize how the sport is governed, delivered and experienced, building on its track record of working with major global sports organizations to drive innovation at scale.

Mauro Macchi, CEO of Accenture in EMEA, said: “Golf is one of the world’s great global sports, with a rich history and an exciting future. We’re proud to partner with The R&A as its Official Business and Technology Consulting Partner, as well as an Official Patron of its most iconic championships.

“Together, we will apply technology, data, and AI to help open the game to an even wider audience – strengthening the sport’s foundations, enhancing experiences on and off the course, and supporting The R&A’s mission to grow and evolve golf for generations to come.”

Accenture will also collaborate with The R&A to activate its Patron status across The Open, AIG Women’s Open, and ISPS HANDA Senior Open, supporting the storytelling, heritage and global reach of golf’s most prestigious championships.

About Accenture

Accenture is a leading solutions and services company that helps the world’s leading enterprises reinvent by building their digital core and unleashing the power of AI to create value at speed across the enterprise, bringing together the talent of our approximately 784,000 people, our proprietary assets and platforms, and deep ecosystem relationships. Our strategy is to be the reinvention partner of choice for our clients and to be the most client-focused, AI-enabled, great place to work in the world. Through our Reinvention Services we bring together our capabilities across strategy, consulting, technology, operations, Song and Industry X with our deep industry expertise to create and deliver solutions and services for our clients. Our purpose is to deliver on the promise of technology and human ingenuity, and we measure our success by the 360° value we create for all our stakeholders. Visit us at accenture.com.

© Copyright Accenture 2026. All rights reserved.

Chinedu Udezue

Accenture

+44 208 396 3674

[email protected]

Andy Rowlands

Accenture

+44 7952 594784

[email protected]

Stuart Moffat

The R&A

+44 7464 547682

[email protected]

KEYWORDS: United Kingdom Europe

INDUSTRY KEYWORDS: Sports Consulting Data Management Technology Professional Services Business Golf Software Artificial Intelligence Networks Internet

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The R&A and Accenture today announced a new six-year partnership which will see Accenture become the Official Business and Technology Consulting Partner of The R&A as well as an Official Patron of some of golf’s most iconic championships—The Open, AIG Women’s Open, and ISPS HANDA Senior Open until 2031.

Infleqtion Delivers the UK’s Only Operational 100-Qubit Quantum Computing System at the National Quantum Computing Centre

Infleqtion Delivers the UK’s Only Operational 100-Qubit Quantum Computing System at the National Quantum Computing Centre

Delivers on major UK national quantum mission goal, enabling research and application development on large-scale systems

OXFORD, England–(BUSINESS WIRE)–Infleqtion (NYSE: INFQ), a global leader in quantum computing and quantum sensing powered by neutral-atom technology, has delivered the UK’s only operational 100-physical-qubit quantum computing system at the National Quantum Computing Centre (NQCC) with its Sqale platform, achieving a milestone the NQCC identified as a critical objective for the UK’s quantum strategy. Achieved in December 2025, the milestone creates foundational infrastructure that will enable researchers and industry to begin working with large-scale quantum systems.

“Infleqtion’s progress is a significant milestone, helping move the UK beyond research toward real-world uses,” said Lord Vallance, Minister of State for Science, Research and Innovation. “These sorts of advances are vital in paving the way for us to be able to use quantum computers to deliver tangible benefits. With the talent and research expertise that we have on offer in the UK, this is an encouraging next step which helps cement our position as a world leader in one of the defining technologies of our generation.”

“The NQCC’s quantum computing testbed is among the first of its kind, advancing innovation at a global level,” said Matthew Kinsella, CEO of Infleqtion. “This latest achievement with Sqale reflects the progress and potential of our neutral-atom architecture and marks an important step toward larger-scale quantum systems. We’re proud to partner with the NQCC on a platform that is critical to advancing quantum computing and reinforces the UK’s leadership in this essential technology.”

Reaching the 100-physical-qubit level represents an important step beyond laboratory prototypes toward quantum computers that can run more complex algorithms, test error-correction approaches and support practical solutions. At this scale, quantum systems begin to support experimentation that connects more directly to real-world challenges. Researchers can begin probing applications in areas such as advanced materials, energy systems and complex optimisation. Sqale is the first neutral-atom platform of this scale deployed in an operational national facility, reinforcing its position at the forefront of quantum hardware development.

The NQCC’s installation of the Sqale platform is part of its broader Quantum Computing Testbed Initiative. With Sqale, researchers will be able to evaluate performance, benchmark applications, and study how neutral‑atom systems scale. The platform is also designed to accelerate skills development, supply‑chain readiness and application exploration across the UK quantum ecosystem.

“Having a system of this scale available through the NQCC is a significant step for the UK quantum community,” said Dr Michael Cuthbert, Director of the NQCC. “It allows researchers to move beyond small demonstrations and begin learning what it really takes to operate and scale quantum computers in practice.”

“This is a defining moment for Infleqtion and the UK’s ambition to build world-class sovereign quantum capabilities. Achieving this milestone has been a key goal for the UK’s quantum efforts and seeing it become reality is something we are all immensely proud of,” said Colin Sullivan, Managing Director of Infleqtion UK. “We look forward to expanding our partnership with UK researchers, businesses and government to unlock the full potential of quantum technology.”

Infleqtion’s milestone with NQCC demonstrates continued execution on the company’s technology roadmap. Infleqtion is aiming to exceed 30 logical qubits in 2026 and deliver more than 100 logical qubits in 2028, advancing toward fully fault-tolerant architectures. Because it takes anywhere from 10 to more than 1,000 physical qubits to encode a single reliable logical qubit, physical-qubit performance becomes a key limiting factor. Infleqtion’s 99.73% two-qubit gate fidelity delivers industry-leading performance on the metric that matters most in quantum computing. Higher fidelity means fewer physical qubits per logical qubit, delivering a significant scalability and efficiency advantage.

Neutral-atom architecture offers one of the clearest paths to scalable quantum computing and future commercial advantage due to its scalability, reconfigurability and strong coherence properties. Infleqtion’s approach benefits from having already delivered neutral-atom systems in operational environments beyond the laboratory. Unlike many quantum computing efforts that remain confined to research settings, Infleqtion has already translated neutral-atom technology into multiple demonstrations and fielded systems, including:

Together, these efforts underscore Infleqtion’s ability to turn neutral-atom research into fielded products, providing a foundation for developing scalable quantum technologies that move beyond the laboratory and into practical use.

For more information about Infleqtion’s neutral-atom computing roadmap and work with the NQCC, visit infleqtion.com.

About Infleqtion

Infleqtion, Inc. (NYSE: INFQ) is a global leader in quantum technology, delivering neutral-atom solutions for quantum computing, networking, sensing, and security. With a product portfolio spanning quantum computers, quantum optical clocks, RF receivers, and inertial sensors, Infleqtion’s full-stack approach combines high-performance hardware with the company’s proprietary Superstaq quantum computing software platform. Infleqtion’s systems are already in use by the U.S. Department of War, NASA, the U.K. government, and in multiple collaborations with NVIDIA. Infleqtion, in collaboration with NVIDIA, published the world’s first demonstration of a materials science application using logical qubits. With operations in the U.S., Europe, and Asia, Infleqtion meets the demands of government and commercial customers across the space, defense, energy, finance and telecommunications sectors. For more information, visit Infleqtion.com or follow Infleqtion on LinkedIn, YouTube, and X.

Frequently Asked Questions

What is a neutral-atom quantum computer?

A neutral-atom quantum computer uses individual atoms held in place and controlled by lasers as qubits, the basic units of quantum information. Because the atoms are naturally identical and can be arranged with high precision, neutral-atom systems offer a flexible approach to building larger, more capable quantum processors while remaining well isolated from environmental noise.

How is neutral atom technology different from other quantum computing approaches?

Quantum computers can be built using several different physical approaches, including superconducting circuits, trapped ions, photons, and neutral atoms. Neutral-atom systems are especially promising because they can be scaled by adding and rearranging atoms with light, enabling flexible qubit layouts and reconfigurable interactions. These properties make neutral-atom architecture a compelling approach as the industry works toward larger-scale quantum systems.

Why does reaching 100 qubits matter?

Reaching 100 physical qubits is an important milestone because it enables larger and more realistic quantum experiments than have typically been possible on smaller prototype systems. At this scale, researchers can begin testing more complex algorithms, studying how systems behave as they grow, and exploring approaches to error correction and early applications. It marks an important step from laboratory-scale demonstrations toward larger operational quantum systems.

What does this deployment enable for researchers and industry?

With the system now operational at the National Quantum Computing Centre, researchers and industry collaborators can begin evaluating a large-scale neutral-atom quantum computer in a national testbed environment. This supports performance benchmarking, application exploration, and practical research into operating and scaling quantum systems across the UK quantum ecosystem.

Why is this significant for the UK?

This milestone marks the deployment of the UK’s only operational 100-physical-qubit quantum computing system and supports a major goal of the National Quantum Computing Centre’s technology roadmap. It strengthens the UK’s national quantum infrastructure and gives the quantum community the opportunity to work with a system at a scale that supports more advanced research, benchmarking, and application development.

Leigh Rosenwald

Voxus PR

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Investor Contact

Marcus Kupferschmidt

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INDUSTRY KEYWORDS: Technology Research Contracts Semiconductor Government Technology Hardware Other Science Science Defense

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Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: The Company Continues to Take Action in Response to Recently Identified Suspected Illegal Market Manipulation

Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: The Company Continues to Take Action in Response to Recently Identified Suspected Illegal Market Manipulation

  • FF delivered two FF Master and pre-delivered two FX Aegis robot units this week, expanding into two new application scenarios within its “6-3-3” Industry Applications and Practical Value framework. These new deliveries get FF close to reaching its initial goal of 20 units delivered in the first month.

  • FFAI Headquarters will be relocating to a new headquarters in El Segundo, CA later this month. This area, also known as Silicon Beach area of Los Angeles, will better support the advancement of the company’s EAI strategy, help FF attract top AI talent, and strengthen innovation and ecosystem collaboration.

LOS ANGELES–(BUSINESS WIRE)–
Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or the “Company”), a California-based global Embodied AI (EAI) ecosystem company, today shared a weekly business update from YT Jia, Founder and Global Co-CEO of FF.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260315049164/en/

Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: The Company Continues to Take Action in Response to Recently Identified Suspected Illegal Market Manipulation

Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: The Company Continues to Take Action in Response to Recently Identified Suspected Illegal Market Manipulation

“Today’s weekly report was supposed to start with a piece of wonderful news: FFAI Headquarters will relocate to Silicon Beach area next weekend, along with two important business updates on the execution of our EAI strategy. However, because we are deeply outraged by the harm that may have been caused by potential illegal market manipulators to the interests of our stockholders, I want to begin instead with FF’s latest actions in its Counterattack Against Potentially Illegal Market Manipulation and Short Selling.

Recently, the progress of our robotics business has far exceeded our expectations, yet our stock price performance has continued to decline. So what might be behind part of this disconnect? We have become aware of suspected organized illegal market manipulation activity targeting FF. In particular, Hua Qixin and their group are suspected of spreading knowingly false statements, fabricating rumors, making defamatory claims, misleading investors, and manipulating the market for improper gain. These suspected illegal manipulative actions may not only be harming FF, but also harming every stockholder who believes in the Company’s long-term value.

But let me say this: FF has never been a company that can be easily brought down by malicious forces. In the past, we successfully fought back. This time, we have even stronger confidence, more evidence, and greater determination to win this Counterattack Against Potentially Illegal Market Manipulation and Short Selling.

At present, we have already communicated with relevant parties, preserved key evidence, and are preparing for the next step of potentially initiating litigation in both China and the U.S. At the same time, we have also initiated related regulatory complaint procedures, including preparing materials in connection with a potential submission to the U.S. Securities and Exchange Commission (SEC). Our goal is clear: to ensure FF operates in a clean, fair, lawful, and compliant capital markets environment, and to ensure that FF’s stock price truly reflects the Company’s operating fundamentals and real value.

Taking this opportunity, we are once again publicly calling for relevant leads and evidence. Anyone who has information related to any suspected illegal short-selling or related misconduct is welcome to contact us. The Company will handle all valid leads prudently and in accordance with the law.

The Company is firmly committed to protecting the interests of our stockholders and putting ‘Stockholders First.’ I believe that as long as we stand united against this threat, we will win.

Next, let me talk about the Company’s two important business updates this week:

First, the FF team has remained committed to the R&D of our EAI Brain & Open-Source and Open Developer Platform. After a period of focused effort, this week we successfully integrated OpenClaw into the Agent layer of our EAI Brain. This will accelerate the rollout of scenario-based skills, while also allowing us to evolve our brain architecture with OpenClaw’s underlying philosophy.

In the past, when robots were faced with new use cases, they often required extensive reprogramming, customized development, and repeated debugging. By introducing the OpenClaw architecture, the system can achieve modularization and capability decoupling, significantly enhancing the robot’s generalization ability and enabling it to better adapt to changes in the real world. From a user value perspective, this will allow every user to better own a truly personal EAI Agent. Users can also directly assign tasks remotely and receive feedback at any time through instant messaging tools. Even novice users will be able to develop many of the EAI Skills they need themselves through our developer platform, with a very low barrier to entry, continuously creating more value for users.

From the perspective of value for the developer platform, OpenClaw brings no-code programming capabilities. Developers no longer need complex coding. Through natural language alone, OpenClaw can automatically locate documentation and generate code, enabling the rapid development of Agents and Skills while significantly lowering the development threshold and improving efficiency. Skill packages can be quickly generated and deployed, allowing robots to rapidly adapt to different use cases and achieve professionalized, scaled deployment, while also driving the continued growth of the ecosystem.

Second, on the FF EAI robotics side, we delivered two FF Master and pre-delivered two FX Aegis units this week, expanding into two new application scenarios within our ‘6-3-3’ Industry Applications and Practical Value framework: Family learning companion, and high-end estate security. Subject to securing FCC compliance for our Aegis line of robots, with these new deliveries, we will be close to reaching our initial goal of 20 units delivered in the first month.

Today, our team is holding a delivery event to hand over Master and pre-deliver Aegis to our EAI ecosystem partner, 6677 Auto. These robots will primarily be deployed in our ‘Robot & Vehicle + Family Learning Companion’ use case—helping more children gain hands-on exposure to robots and AI and hopefully inspiring the next generation of AI innovators. Family education—especially supporting children and teenagers as they grow—is quickly becoming one of the most valuable and essential application scenarios in the AI era.

Yesterday, we also pre-delivered Aegis, the quadruped, to Pinnacle, a leading real estate brokerage in Los Angeles, launching our ‘Robot & Vehicle + High-end Estate Security’ application. In this use case, the robot will be integrated into high-end property showings, client reception, and immersive home-viewing experiences, expanding the role of EAI robots in premium service environments. At the same time, it can provide robot & vehicle + residential property security for property owners, with capabilities such as autonomous patrol, and early alerts and security deterrence under development.

Finally, let me share some exciting news about FF’s headquarters relocation. After more than a year of searching and preparation, we’ve finalized and signed the lease for our new headquarters in El Segundo, which is in the Silicon Beach area of Los Angeles. We will begin moving next weekend as our new office space comes into use.

If Northern California is known for Silicon Valley, Southern California has Silicon Beach. Over the past decade, Silicon Beach, located along Los Angeles’ West Coast, has rapidly emerged as one of the most dynamic technology and innovation hubs in the United States. Over the past ten-plus years, it has gradually become home to companies across AI, internet technology, tech entertainment, aerospace, and other frontier industries. The area hosts not only a vibrant startup community, but also major companies like SpaceX, Google, and Amazon, along with a strong concentration of top AI talent, engineers, entrepreneurs, investors, and innovation resources.

For FF, this location will better support the advancement of our EAI strategy, help us attract top AI talent, and strengthen innovation and ecosystem collaboration. This also marks the first headquarters relocation in FF’s 12-year history, making it an especially meaningful milestone for the company. When we officially move in, I’ll give everyone a tour of the new headquarters—together with our robot friends—so we can all witness the start of this new chapter. I will see you next week!”

ABOUT FARADAY FUTURE

Faraday Future is a California-based global intelligent Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand’s pursuit of ultra-luxury, cutting-edge technology, and high performance. FF’s second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business with sales beginning this year, connecting its future strategy of bringing a new era of EAI vehicles and EAI robotics. For more information, please visit https://www.ff.com/

FORWARD LOOKING STATEMENTS

This press release includes “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 “plan to,” “can,” “will,” “should,” “future,” “potential,” 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, which include statements regarding potential future legal actions against alleged illegal market manipulation or similar improper activities, and FF’s entry into the embodied AI robotics market and robotics deliveries and development, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, that may affect actual results or outcomes include, among others: expectations related to the investigation of potential illegal market manipulation, including the Company’s analysis, its ability to take appropriate corrective action, obtain sufficient evidence to support legal actions or any potential investigations by regulators; demand for our robotics products; competition in the robotics industry, which includes companies with far superior experience, funding and name recognition; our reliance on a single OEM for most of our robotics products; our ability to get the planned robotics products to comply with all applicable U.S. rules and regulations; the ability of the robotics OEM to timely supply robotics to the Company; tariff uncertainty for imported products, particularly from China; demand from automobile dealers for robotics products; the Company’s ability to maintain its listing on Nasdaq; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company’s share capital, which could result in substantial additional dilution; the Company’s ability to homologate FX vehicles for sale; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure an occupancy certificate for its Hanford facility; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company’s ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company’s control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company’s operations in China; the success of the Company’s remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company’s ability to develop and protect its technologies; the Company’s ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025, and Form 10-Qs for the quarters ended June 30, 2025 and September 30, 2025 filed with the SEC on May 9, 2025, August 19, 2025 and November 21, 2025, respectively, and other documents filed by the Company from time to time with the SEC.

Investors (Chinese): [email protected]

Media: [email protected]

KEYWORDS: China United States North America Asia Pacific California

INDUSTRY KEYWORDS: Vehicle Technology Performance & Special Interest EV/Electric Vehicles Robotics Alternative Vehicles/Fuels General Automotive Technology Automotive Artificial Intelligence Automotive Manufacturing Other Technology Manufacturing

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Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: The Company Continues to Take Action in Response to Recently Identified Suspected Illegal Market Manipulation
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Woodside Energy Sustainability Briefing 2026

Woodside Energy Sustainability Briefing 2026

PERTH, Australia–(BUSINESS WIRE)–
At Woodside’s Sustainability Briefing 2026 today, Acting Chief Executive Officer Liz Westcott outlined the central role of sustainability in Woodside’s strategy and delivery of long-term shareholder value.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260315166209/en/

Ms Westcott said the briefing highlights how Woodside’s sustainability priorities drive business performance and deliver value for shareholders and the communities in which Woodside operates.

“Our performance is supported by strong governance and risk management at the Board and senior management levels of Woodside.

“By providing energy the world needs, and doing so responsibly and sustainably, we are well placed to build a resilient, profitable business that delivers long-term value for our shareholders.”

Woodside’s Sustainability Report (released as part of the Annual Report) and 2025 Climate and Sustainability Summary were released on 24 February 2026.

Webcast

To access the live webcast of the Sustainability Briefing Day, please follow the link at https://meetings.lumiconnect.com/300-700-100-662.

The webcast will commence at 11:00 AEDT / 8:00 AWST Monday, 16 March 2026 (19:00 CDT on Sunday, 15 March 2026).

A copy of Woodside’s Sustainability Briefing 2026 slide pack is attached.

This announcement was approved and authorised for release by Woodside’s Disclosure Committee.

INVESTORS

Vanessa Martin

M: +61 477 397 961

E: [email protected]

MEDIA

Christine Abbott

M: +61 484 112 469

E: [email protected]

KEYWORDS: North America United States Europe Australia Australia/Oceania

INDUSTRY KEYWORDS: White House/Federal Government Public Policy/Government State/Local Other Energy Oil/Gas Alternative Energy Energy

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Micron Completes Acquisition of PSMC’s Tongluo P5 Site in Taiwan

Existing cleanroom retrofit to begin in March with plans to begin construction of a similar-sized second cleanroom at this site by the end of fiscal 2026

BOISE, Idaho, March 15, 2026 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) today announced it has completed the acquisition and assumed ownership of Powerchip Semiconductor Manufacturing Corporation’s (PSMC) P5 site in Tongluo, Miaoli County, Taiwan, under the acquisition agreement previously announced on January 17, 2026.

The new site will complement Micron’s existing operations in Taiwan as an extension of the company’s vertically integrated mega campus in Taichung, located approximately 15 miles away. The site includes approximately 300,000 square feet of existing 300mm cleanroom space and will support Micron’s efforts to expand supply of leading-edge DRAM products, including HBM, to meet growing AI-driven demand.

Micron began preparations for the new Tongluo site following the deal announcement in January 2026 and will begin retrofitting the existing cleanroom now that the transaction has been completed. The new Tongluo site is expected to support meaningful product shipments from the existing fab beginning in fiscal 2028. The company is also planning the next phase of expansion at the site, with construction set to begin by the end of fiscal 2026 on a second facility of comparable scale, adding approximately 270,000 square feet of cleanroom space.

“The Tongluo facility complements our Taiwan operations and is a critical component of our global expansion plans,” said Manish Bhatia, executive vice president of global operations at Micron Technology. “Memory is a strategic asset that dictates AI product performance, and the acquisition and phased ramp of this site strengthens our ability to capitalize on these significant opportunities. We appreciate the strong collaboration from the Taiwan government, our construction partners, and equipment and materials suppliers to enable and accelerate the ramp of our production capacity at this site.”

Micron thanks PSMC, the Taiwan central government, including the Ministry of Economic Affairs, National Science and Technology Council, and Hsinchu Science Park, as well as Miaoli County Government, for their strong support, collaboration to ensure a swift and successful acquisition process, and commitment in enabling the new site, leveraging the efficiency and speed of execution fueled by the world-class semiconductor manufacturing ecosystem in Taiwan.

About Micron Technology, Inc. 

Micron Technology, Inc. is an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com

Forward-Looking Statements 

This press release contains forward-looking statements, including expectations as to when meaningful product shipments will begin at the Tonglou site, the timing of future construction plans for the Tonglou site, and the ability of Micron’s global expansion plans to address product demand growth. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to the documents Micron files with the Securities and Exchange Commission, specifically its most recent Form 10-K and Form 10-Q. These documents contain and identify important factors that could cause actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at https://investors.micron.com/risk-factor. Although Micron believes that the expectations reflected in the forward-looking statements are reasonable, Micron cannot guarantee future results, levels of activity, or achievements. Micron is under no duty to update any of the forward-looking statements after the date of this press release to conform these statements to actual results. 

© 2026 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.  

Micron Media Relations Contact   
Mark Plungy
+1 (408) 203-2910
[email protected]  

Micron Investor Relations Contact  
Satya Kumar  
+1 (408) 450-6199  
[email protected]  
  



Telix Resubmits NDA to U.S. FDA for TLX101-Px (Pixclara®) Brain Cancer Imaging Candidate

MELBOURNE, Australia and INDIANAPOLIS, March 16, 2026 (GLOBE NEWSWIRE) — Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX, “Telix”) today announces the resubmission of a New Drug Application (NDA) to the United States (U.S.) Food and Drug Administration (FDA) for TLX101-Px, (Pixclara®1, Floretyrosine F 18 or 18F-FET), an investigational PET2 imaging agent for the characterization of recurrent or progressive glioma (brain cancer) from treatment related changes in both adult and pediatric patients.

Telix has resubmitted the NDA with the additional data requested by the FDA. The Company believes, based on the Type A meeting and ongoing consultation with the FDA, that the additional data and statistical analysis, along with the primary data set provided in the original submission, appropriately addresses the Complete Response Letter3.

Given the potential to address significant unmet medical need, TLX101-Px has been granted Orphan Drug4 and Fast Track5 designations by the FDA. PET imaging with 18F-FET is already included in international clinical practice guidelines for the imaging of gliomas6, however there is currently no FDA-approved targeted amino acid PET agent for adult and pediatric brain cancer imaging commercially available in the U.S.

Dr. David N. Cade, Telix Group Chief Medical Officer, said, “We appreciate the FDA’s recognition of the critical unmet need to improve the diagnosis and management of glioma, particularly in the post-treatment setting. Our resubmission is supported by an extensive and compelling data set – particularly so for an orphan indication. We are grateful to our global clinical collaborators, who share our commitment to ensuring patients in the U.S. can benefit from this important patient management tool.”

Maggie Haynes, Executive Director, Head for the Cure Foundation, added: “Our community is encouraged by the FDA’s ongoing engagement and guidance to the sponsor and support for the Expanded Access Program for TLX101-Px. We are hopeful of an expedited review, so this important and proven imaging option can become available to those who urgently need it.”

About TLX101-Px

TLX101-Px is a PET imaging agent, which has been granted fast track and orphan drug designations by the FDA as an imaging agent for the characterization of recurrent or progressive glioma from treatment related changes. TLX101-Px targets membrane transport proteins known as LAT1 and LAT27. This enables TLX101-Px to be potentially utilized as a companion diagnostic agent to TLX101-Tx (iodofalan 131I), Telix’s LAT1-targeting glioblastoma (GBM) therapy candidate, currently under investigation in the pivotal IPAX-BrIGHT study8

About gliomas in the U.S.

Gliomas are very diffusely infiltrative tumors that affect the surrounding brain tissue. They are the most common form of central nervous system (CNS) neoplasm that originates from glial cells, accounting for approximately 30% of all brain and CNS tumors and 80% of all malignant brain tumors9. In the U.S., there are six cases of gliomas diagnosed per 100,000 people every year10. GBM is a high-grade glioma and the most common and aggressive form of primary brain cancer, with approximately 22,000 new cases diagnosed annually in the U.S.11. The mainstay of treatment for GBM comprises surgical resection, followed by combined radiotherapy and chemotherapy. Despite such treatment, recurrence occurs in almost all patients12, with an expected survival duration of 12-15 months from diagnosis13

About
Telix Pharmaceuticals Limited

Telix is a global biopharmaceutical company focused on the development and commercialization of therapeutic and diagnostic radiopharmaceuticals and associated medical technologies, with the goal to address significant unmet medical needs in oncology and rare diseases. With international operations in the United States, United Kingdom, Brazil, Canada, Europe (Belgium and Switzerland), and Japan, Telix is headquartered in Melbourne, Australia. Telix is listed on the Australian Securities Exchange (ASX: TLX) and the Nasdaq Global Select Market (NASDAQ: TLX).

Illuccix® (kit for the preparation of gallium-68 (68Ga) gozetotide injection), Telix’s first generation PSMA-PET imaging agent, has been approved in multiple markets globally. Gozellix® (kit for the preparation of gallium-68 (68Ga) gozetotide injection) has been approved by the U.S. FDA14. TLX101-Px and TLX101-Tx have not received marketing authorizations in any jurisdiction.

Visit www.telixpharma.com for further information about Telix, including details of the latest share price, ASX and U.S. Securities and Exchange Commission (SEC) filings, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on LinkedIn, X and Facebook.

Telix Investor Relations (Global)

Ms. Kyahn Williamson
SVP Investor Relations and Corporate Communications
[email protected]

Telix Investor Relations (U.S.)  

Ms. Annie Kasparian  
Director Investor Relations and Corporate Communications  
[email protected] 

Telix Investor Relations (Australia)

Ms. Charlene Jaw
Associate Director Investor Relations
[email protected]

Media Contact

Eliza Schleifstein
917.763.8106 (Mobile)
[email protected]

This announcement has been authorized for release by the Telix Pharmaceuticals Limited Disclosure Committee on behalf of the Board.

Legal Notices

Cautionary Statement Regarding Forward-Looking Statements. 

You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our website.

The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification.  To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement.

This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as “may”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “outlook”, “forecast” and “guidance”, or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix’s good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix’s business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix’s business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress, completion and results of Telix’s preclinical and clinical trials, and Telix’s research and development programs; Telix’s ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix’s product candidates, including the planned NDA resubmission for TLX101-Px and the planned BLA resubmission for TLX250-Px, manufacturing activities and product marketing activities; Telix’s sales, marketing and distribution and manufacturing capabilities and strategies; the commercialization of Telix’s product candidates, if or when they have been approved; Telix’s ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix’s expenses, future revenues and capital requirements; Telix’s financial performance; developments relating to Telix’s competitors and industry; the anticipated impact of U.S. and foreign tariffs and other macroeconomic conditions on Telix’s business; and the pricing and reimbursement of Telix’s product candidates, if and after they have been approved. Telix’s actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements.

Trademarks and Trade Names. All trademarks and trade names referenced in this press release are the property of Telix Pharmaceuticals Limited (Telix) or, where applicable, the property of their respective owners. For convenience, trademarks and trade names may appear without the ® or ™ symbols. Such omissions are not intended to indicate any waiver of rights by Telix or the respective owners. Trademark registration status may vary from country to country. Telix does not intend the use or display of any third-party trademarks or trade names to imply any affiliation with, endorsement by, or sponsorship from those third parties.

©2026 Telix Pharmaceuticals Limited. All rights reserved.

1 Brand name subject to final regulatory approval.
2 Positron emission tomography.
3 Telix ASX disclosure April 28, 2025.
4 Telix ASX disclosure October 6, 2020.
5 Telix ASX disclosure April 16, 2024. Fast Track is a process designed to facilitate the development, and expedite the review of drugs to treat serious conditions and fill an unmet medical need. The purpose is to get important new drugs to the patient earlier. More: https://www.fda.gov/patients/fast-track-breakthrough-therapy-accelerated-approval-priority-review/fast-track
6 Galldiks et al. Lancet Oncol. 2025 (Joint guidelines from the European Association of Nuclear Medicine (EANM), European Association of Neuro-Oncology (EANO), Society of Nuclear Medicine and Molecular Imaging (SNMMI), Response Assessment in Neuro-Oncology (RANO), The European Society for Pediatric Oncology and The Response Assessment in Pediatric Neuro-Oncology for the characterization of recurrence in glioma patients); National Comprehensive Cancer Network® (NCCN) Clinical Practice Guidelines in Oncology (NCCN Guidelines®) for Central Nervous System Cancers V1.2025.
7 L-type amino acid transporters 1 and 2.
8 ClinicalTrials.gov ID: NCT07100730.
9 Goodenberger et al. Cancer Genet. 2012.
10 Mesfin et al. StatPearls. 2024.
11 Ostrom 2022, CBTRUS (Central Brain Tumor Registry of the United States) Statistical Report.
12 Park et al. Journal of Clinical Oncology. 2010.
13 Ostrom et al. Neuro Oncol. 2018.
14 Telix ASX disclosure March 21, 2025.