Strong client outcomes, continued platform innovation, and expanding industry adoption signal Intelligent Banking’s shift from vision to operating model
ATLANTA, GA / ACCESS Newswire / February 12, 2026 / Candescent, defining the era of Intelligent Banking for banks and credit unions, today released its 2025 Annual Report to Clients, documenting a landmark year marked by platform innovation, measurable client outcomes, and continued industry momentum. More than 1,300 financial institutions and 30 million registered users operate on a unified Intelligent Banking Platform designed to deliver experiences that are secure, personal, and purposeful.
“Digital transformed access. Intelligent Banking transforms understanding,” said Brendan Tansill, CEO of Candescent. “For years, our industry focused on digitizing services by automating processes, expanding channels, and accelerating access. That work mattered, and today it represents the baseline. Technological innovation through AI is now enabling embedded intelligence that applies insight, empathy, and action across every interaction. Our 2025 Annual Report shows what that looks like in practice and why Intelligent Banking is becoming the operating model for what comes next.”
From Integration to Intention
In 2025, Candescent unified its data architecture, portfolio, teams, and technology around a single Intelligent Banking Platform built to deliver reliable, secure, and human-centered experiences across account opening, consumer and business banking, and both branch and digital channels. Candescent delivered platform-wide progress, including:
A full redesign of the Consumer Digital Banking experience
Migration of more than 60% of users to the next-generation platform
Continued advancements across consumer and business banking, servicing, and digital engagement
Complete re-architecture of our Branch solution to a cloud-based, multi-tenant deployment model
These investments resulted in more consistent experiences, faster decision-making, and reduced friction, all while maintaining strong compliance and control.
Intelligence That Proves Its Value
Momentum behind Intelligent Banking adoption continues to build, with both new engagements and expanding relationships contributing to a growing ecosystem of real-world outcomes. Candescent rounded out its impressive client roster with several marquee new wins, including Golden Plains Credit Union and Bank of Greene County, which is leveraging the Candescent platform to support emerging gig banking experiences across multiple markets.
Client outcomes documented in the 2025 Annual Report demonstrate measurable impact across institutions of varying size and geography:
Frictionless onboarding (Apple Bank): Reduced new account-opening time from 45-60 minutes to 5-10 minutes, cut manual reviews from 80% to 30%, and tripled staff productivity.
Intelligent cross-sell (Meriwest Credit Union): Achieved up to 10% uptake on intelligent cross-sell offers and reduced member attrition by 15% by combining deep member insight with an intelligence-driven banking platform.
Digital engagement at scale (OneUnited Bank): Increased adoption of digital features by 33% by evolving its mobile app into a financial wellness hub, scaling engagement without compromising trust or mission.
These engagements reflect how Intelligent Banking is evolving from individual initiatives into a broader operating model across financial institutions, supported by continued platform investment, ecosystem expansion, and industry validation.
Platform investment and ecosystem expansion: More than $120 million in annual R&D supported the launch of the Candescent Marketplace, which now includes more than 150 integrated fintech partners across seven capability categories, along with a rebuilt Developer Portal that accelerates partner activation and innovation.
Industry validation: Recognized as a Leader in the IDC MarketScape: North America Retail Digital Banking Solutions 2025-2026 and identified by Javelin as one of the most aggressive and capable challengers to market leadership in its 2025 Small Business Digital Banking Vendor Scorecard.
“2025 was a defining year for our teams and our clients,” said Gareth Gaston, Chief Product Officer at Candescent. “The hard work and close collaboration across our platform translated into meaningful advancements and measurable outcomes. That momentum enables us to define the era of Intelligent Banking not as a concept, but as an operating model taking shape across the industry.”
Experience-Led. Intelligence-Driven.
The report reinforces Candescent’s Experience-Led, Intelligence-Driven philosophy, grounded in the belief that design bridges intelligence and human action. In 2025, this approach advanced through the launch of the Candescent Marketplace, enabling institutions to extend their platform through a trusted fintech ecosystem while maintaining a cohesive experience.
The report also highlights the expansion of Candescent’s global team to more than 1,900 employees, including 475 new specialists. The company also opened a new Atlanta headquarters to strengthen collaboration, accountability, and delivery velocity.
Candescent’s commitment to security, compliance, and community impact includes SOC 2 Type 2 validation, FFIEC-aligned controls embedded in its delivery architecture, and $500,000 in charitable contributions through the Candescent Cares program, including a flagship partnership with Teachers Federal Credit Union supporting Children’s Miracle Network Hospitals.
Looking Ahead: AXIS 2026
The Annual Report serves as the strategic foundation for Candescent AXIS 2026, taking place April 21-23 in Orlando, Florida. Leaders from banks and credit unions will explore how 2025’s real-world outcomes shape the next evolution of the Intelligent Banking roadmap. Registration is open at events.candescent.com/CandescentAXIS26.
“The progress captured in this report represents more than momentum,” Tansill added. “It reflects a shared commitment with our clients to define a better way forward for banking, one that is secure, human, and built to endure. Intelligent Banking is no longer a future state. It is the work happening now.”
The full Candescent 2025 Annual Report to Clients is available at candescent.com.
About Candescent: Candescent is defining the era of Intelligent Banking for banks and credit unions. Through its cloud-native Intelligent Banking Platform, Candescent enables institutions to unify data, channels, and real-time intelligence to deliver differentiated experiences, accelerate growth, and deepen customer and member relationships across account opening, consumer and business banking, and digital and branch experiences. Candescent serves more than 1,300 banks and credit unions representing over 30 million registered users. For more information, visit www.candescent.com.
JACKSONVILLE, FL / ACCESS Newswire / February 12, 2026 / GEE Group Inc. (NYSE American:JOB) together with its subsidiaries (collectively referred to as the “Company,” “GEE Group,” “our” or “we”), a provider of professional staffing services and human resource solutions, today announced consolidated results for the fiscal 2026 first quarter ended December 31, 2025. The Company’s contract and placement services are currently provided under its Professional Staffing Services operating division or segment. The operations and substantially all the assets of the Company’s former Industrial Staffing Services segment were sold during fiscal 2025 and have been reclassified as discontinued operations so are excluded from the results of continuing operations reported below, unless otherwise stated. All amounts presented herein are consolidated or derived from consolidated amounts, and are rounded and represent approximations, accordingly.
Fiscal 2026 First Quarter Continuing Operations Highlights
Consolidated revenues for the fiscal 2026 first quarter were $20.5 million, down 15% over the comparable fiscal 2025 first quarter. This decrease is mainly attributable to the loss one of our larger higher volume, lower margin accounts when the customer was acquired. As a result of the acquisition, our contract staffing services were terminated effective as of October 1, 2025, and replaced by comparable services provided by an affiliate of the acquirer. This account produced revenues of $2.6 million during the comparable fiscal 2025 first quarter. Absent the loss of this single customer, consolidated revenues declined 3.8%. Macroeconomic weakness and uncertainties related to tariffs, persistent inflation and relatively high interest rates also have continued to adversely affect the U.S. labor markets and contributed to the decrease. In addition, the proliferation of various artificial intelligence (“AI”) applications and tools implemented across various industries has had a dampening effect on many organizations’ hiring plans and, in many cases, led to job terminations and reductions in the demand for certain types of labor.
Contract staffing services revenues for the fiscal 2026 first quarter were $17.8 million, down 17% over the comparable fiscal 2025 first quarter. This decrease was mainly due to the loss of a single higher volume, lower margin account as explained above and, to a lesser extent, a decrease in job orders and lower demand due to the above-mentioned conditions.
Direct hire placement revenues for the fiscal 2026 first quarter increased and were $2.7 million, up 8% over the comparable fiscal 2025 first quarter. Historically, in a weaker labor demand environment, permanent placements are not as robust as contract hires. However, there has been a shift in employment needs by companies and the demand environment has gradually improved for these more profitable hires by customers. The Company continues to capitalize on these opportunities and we are cautiously optimistic that the demand for direct hire placements will be solid and increase for the remainder of the fiscal year.
Gross profit was $7.4 million for the fiscal 2026 first quarter, down 7% over the comparable fiscal 2025 first quarter. Gross margin improved and was 36.1% for the fiscal 2026 first quarter compared to 33.0% for the fiscal 2025 first quarter. The increase in our gross margin is mainly attributable to an increase in the mix of direct hire placement revenues, which have a 100% gross margin, relative to total revenue. Also contributing, to a lesser extent, is an increase in prices and spreads on some of our professional contract services businesses. The loss of one of our larger higher volume, lower gross margin accounts in the fiscal 2026 first quarter as mentioned above had the effect of lower gross profit but improved the mix of business contributing to the higher gross margin as well.
Selling, general and administrative expenses (“SG&A”) were $7.7 million for the fiscal 2026 first quarter, down 9% over the comparable fiscal 2025 first quarter. Our SG&A as a percentage of revenues were 37.6% for the fiscal 2026 first quarter as compared to 35.1% for the fiscal 2025 first quarter. The increase in SG&A as a percentage of revenues is attributable to lower revenues in relation to fixed costs, including certain personnel, occupancy and costs associated with applicant tracking systems and job boards. This was offset, in part, by the cost reductions and productivity improvement initiatives made by the Company during the second half of 2025. These cost reductions contributed approximately $1.1 million to the decrease in SG&A over the comparable periods.
Loss from continuing operations for the fiscal 2026 first quarter was $(150) thousand, or $(0.00) per diluted share, an improvement, as compared with $(684) thousand, or $(0.01) per diluted share, for the fiscal 2025 first quarter. This improvement is primarily due to the cost reductions and productivity improvements, increase in gross margin and other relevant items, previously mentioned.
Adjusted EBITDA (a non-GAAP financial measure), which improved for the fiscal 2026 first quarter, was $(97) thousand, as compared with $(304) thousand for the fiscal 2025 first quarter. Reconciliations of net loss from continuing operations to non-GAAP adjusted EBITDA are attached hereto.
Free cash flow (a non-GAAP financial measure), including cash flows from discontinued operations, was $(1.2) million for the fiscal 2026 first quarter as compared with $(1.1) million for the fiscal 2025 first quarter. Reconciliations of net cash used in operating activities to non-GAAP free cash flow are attached hereto.
The Company maintains a strong liquidity position. As of December 31, 2025, cash balances were $20.1 million, borrowing availability under GEE Group’s bank ABL credit facility was $4.2 million, which remains undrawn, and net working capital was $23.9 million. Our current ratio was 5.3, shareholders’ equity was $50.0 million, and our long-term debt was zero.
Net book value per share and net tangible book value per share were $0.45 and $0.22, respectively, as of December 31, 2025.
As a result of our Industrial Segment being discontinued and sold, the results of that segment have been reclassified to loss from discontinued operations in the Company’s consolidated statements of operations for the fiscal 2025 first quarter and are excluded from the results covered in this earnings press release.
GEE Group Inc. will hold an investor webcast/conference call on Friday, February 13, 2026 at 11a.m. EST to review and discuss the fiscal 2026 first quarter results. The Company’s prepared remarks will be posted on its website www.geegroup.com prior to the call.
Investor Conference Call/Webcast Information:
The investor conference call will be webcast, and you should pre-register in advance for the event to view and/or listen via the internet by clicking on the link below to join the conference call/webcast from your laptop, tablet or mobile device. Audio will stream through your selected device, so be sure to have headphones or your volume turned up. Questions can be submitted via email after the prepared remarks are delivered with management responding real time. A full replay of the investor conference call/webcast will be available at the same link shortly after the conclusion of the live event.
A confirmatory email will be sent to each registrant to acknowledge a successful registration.
Management Comments
Derek E. Dewan, Chairman and Chief Executive Officer of GEE Group, commented, “The Company delivered another resilient quarter in a difficult labor market and continues to aggressively adjust its business plan including pursuing new revenue generating opportunities, aggressively implementing AI tools to maximize efficiency and accelerating expense reductions. The use of contingent labor and the volume of full-time hires lessened overall in the fiscal year 2024, continued throughout the fiscal year 2025 and in the fiscal 2026 first quarter. This decline in demand for labor followed a period of significant post-pandemic over hiring by organizations which was fueled by excessive U.S. government, subsidized liquidity. It does appear that conditions have leveled off somewhat and may be stabilizing as we are seeing some businesses begin to initiate new projects and hiring human resources. Thus, we remain cautiously optimistic based upon this observed activity level and anticipate that it will result in more job orders and full-time and contingent staffing placements. We also believe that AI is fast becoming a disruptor in the staffing industry. Therefore, GEE Group has implemented and incorporated AI in its strategic plan internally to ‘digitize,’ streamline and enhance its recruiting and accelerate its sales efforts. The Company will provide its clients with the necessary human resources solutions to implement and support their use of AI and help them create increased efficiency and profitability.”
Mr. Dewan added, “The actions we took in 2025 have allowed us to mitigate much of the reduction in business volume and contribute to improved profitability. We believe that the demand for our services for the remainder of fiscal 2026 will likely improve with some volatility; however, we are committed to return to sustainable growth once again. We are tightly managing costs and continually evaluating our business for productivity improvements and cost savings. The Company has a strong balance sheet with a current ratio of 5.3 and substantial liquidity resources, both in cash and borrowing capacity.
Mr. Dewan further commented upon recent M&A communications with interested parties, “Management and the Board of Directors have recently met to review and discuss multiple unsolicited expressions of interest in the Company and continue to evaluate various strategic alternatives to enhance shareholder value.”
Additional Information to Consider in Conjunction with the Press Release
The aforementioned Fiscal 2026 First Quarter Highlights and Results should be read in conjunction with all of the financial and other information included in GEE Group’s most recent Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, as well as any applicable recent Current Reports on Forms 8-K and 8-K/A, Registration Statements and Amendments on Forms S-1 and S-3, and Information Statements on Schedules 14A and 14C, filed with the SEC. The discussion of financial results in this press release, and the information presented herein, include the use of non-GAAP financial measures. Schedules are attached hereto which reconcile the related financial items prescribed by accounting principles generally accepted in the United States (“GAAP” or “U.S. GAAP”) to the non-GAAP financial information. These non-GAAP financial measures are not a substitute for the comparable measures prescribed by GAAP as further discussed below in this press release. See “Use of Non-GAAP Financial Measures” and the reconciliations of Non-GAAP Financial Measures used in this press release with the Company’s corresponding financial measures presented in accordance with U.S. GAAP below.
Financial information provided in this press release also may consist of or refer to estimates, projected or pro forma financial information and certain assumptions that are considered forward looking statements, are predictive in nature and depend on future events, and any such predicted or projected financial or other results may not be realized nor are they guarantees of future performance. See “Forward-Looking Statements Safe Harbor” below which incorporates “Risk Factors” which may possibly have a negative effect on the Company’s business.
Use of Non-GAAP Financial Measures
The Company discloses certain non-GAAP financial measures in this press release, including EBITDA, adjusted EBITDA, and free cash flow. Management and the Board of Directors use and refer to these non-GAAP financial measures internally as a supplement to financial information presented in accordance with U.S. GAAP. Non-GAAP financial measures are used for purposes of evaluating operating performance, financial planning purposes, establishing operational and budgetary goals, compensation plans, analysis of debt service capacity, capital expenditure planning and determining working capital needs. The Company also believes that these non-GAAP financial measures are considered useful by investors.
Non-GAAP EBITDA is defined as net loss from continuing operations before interest, other income, taxes, depreciation and amortization. Non-GAAP adjusted EBITDA is defined as EBITDA, adjusted for non-cash stock compensation expenses, acquisition, integration, restructuring and other non-recurring expenses, capital market-related expenses, and gains or losses on extinguishment of debt or sale of assets. Non-GAAP free cash flow is defined as net cash used in operating activities, less capital expenditures.
Non-GAAP EBITDA, adjusted EBITDA, and free cash flow are not terms proscribed or defined by GAAP and, as a result, the Company’s measure of them may not be comparable to similarly titled measures used by other companies. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP financial measures discussed above should be considered in addition to, and not as substitutes for, nor as being superior to net loss reported in the consolidated statements of income, cash and cash flows reported in the consolidated statements of cash flows, or other measures of financial performance reflected in the Company’s consolidated financial statements prepared in accordance with U.S. GAAP included in Form 10-K and Form 10-Q for their respective periods filed with the SEC, which should be read and referred to in order to obtain a comprehensive and thorough understanding of the Company’s financial results. The reconciliations of net loss from continuing operations to non-GAAP EBITDA and non-GAAP adjusted EBITDA, and net cash used in operating activities to non-GAAP free cash flows referred to in the highlights or elsewhere in this press release are provided in the following schedules that also form a part of this press release.
Reconciliation of Net Loss from Continuing Operations to Non-GAAP EBITDA and Adjusted EBITDA Three Month Periods Ended December 31, (In thousands)
2025
2024
Net loss from continuing operations
$
(150
)
$
(684
)
Interest expense
65
66
Interest income
(128
)
(155
)
Other income
(196
)
–
Depreciation
46
55
Amortization
60
205
Non-GAAP EBITDA
(303
)
(513
)
Non-cash stock compensation
113
118
Severance agreements
57
–
Acquisition, integration & restructuring
37
91
Non-GAAP adjusted EBITDA
$
(97
)
$
(304
)
Reconciliation of Net Cash provided by (used in) Operating Activities to Non-GAAP Free Cash Flow Three Month Periods Ended December 31, (In thousands)
2025
2024
Net cash used in operating activities
$
(1,194
)
$
(1,117
)
Acquisition of property and equipment
(4
)
(1
)
Non-GAAP free cash flow
$
(1,198
)
$
(1,118
)
GEE GROUP INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
(Amounts in thousands except per share data)
Three Months Ended December 31,
2025
2024
NET REVENUES:
Contract staffing services
$
17,800
$
21,514
Direct hire placement services
2,716
2,511
NET REVENUES
20,516
24,025
Cost of contract services
13,111
16,099
GROSS PROFIT
7,405
7,926
Selling, general and administrative expenses
7,708
8,439
Depreciation expense
46
55
Amortization of intangible assets
60
205
LOSS FROM OPERATIONS
(409
)
(773
)
Interest expense
(65
)
(66
)
Interest income
128
155
Other income
196
–
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX PROVISION
(150
)
(684
)
Provision for income tax (expense) benefit attributable to continuing operations
–
–
LOSS FROM CONTINUING OPERATIONS
(150
)
(684
)
Loss from discontinued operations, net of tax
–
(8
)
CONSOLIDATED NET LOSS
$
(150
)
$
(692
)
WEIGHTED AVERAGE SHARES OUTSTANDING – BASIC AND DILUTED
109,600
109,413
BASIC AND DILUTED LOSS PER SHARE
From continuing operations
$
(0.00
)
$
(0.01
)
From discontinued operations
$
–
$
(0.00
)
Consolidated net loss per share
$
(0.00
)
$
(0.01
)
GEE GROUP INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
(Amounts in thousands)
December 31, 2025
September 30, 2025
ASSETS
CURRENT ASSETS:
Cash
$
20,149
$
21,364
Accounts receivable, less allowances ($71 and $76, respectively)
8,836
9,695
Prepaid expenses and other current assets
498
622
Total current assets
29,483
31,681
Property and equipment, net
312
354
Goodwill
24,759
24,759
Intangible assets, net
560
620
Right-of-use assets
3,673
2,443
Other long-term assets
156
140
TOTAL ASSETS
$
58,943
$
59,997
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable
$
1,126
$
1,392
Accrued compensation
2,898
4,519
Current operating lease liabilities
1,006
986
Current portion of notes payable
–
196
Other current liabilities
510
595
Total current liabilities
5,540
7,688
Deferred taxes, net
262
262
Noncurrent operating lease liabilities
2,972
1,829
Notes payable
196
196
Other long-term liabilities
–
12
Total liabilities
8,970
9,987
SHAREHOLDERS’ EQUITY
Common stock, no par value; authorized – 200,000 shares; 114,900 shares
issued and 110,006 shares outstanding at December 31, 2025 and 114,900
shares issued and 109,413 shares outstanding at September 30, 2025
113,444
113,675
Accumulated deficit
(60,629
)
(60,479
)
Treasury stock; at cost – 4,895 shares at December 31, 2025 and 5,487
shares at September 30, 2025
(2,842
)
(3,186
)
Total shareholders’ equity
49,973
50,010
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$
58,943
$
59,997
About GEE Group
GEE Group Inc. is a provider of specialized staffing solutions and is the successor to employment offices doing business since 1893. The Company provides professional staffing services and solutions in information technology, engineering, finance and accounting specialties through the names of Access Data Consulting, Agile Resources, Omni One, GEE Group Columbus, Hornet Staffing and Paladin Consulting. Also, in the healthcare sector, GEE Group, through its Scribe Solutions brand, staffs medical scribes who assist physicians in emergency departments of hospitals and in medical practices by providing required documentation for patient care in connection with electronic medical records (EMR). The Company provides contract and direct hire professional staffing services through the following SNI brands: Accounting Now®, SNI Technology®, Legal Now®, SNI Financial®, Staffing Now®, SNI Energy®, and SNI Certes®.
Forward-Looking Statements Safe Harbor
In addition to historical information, this press release contains statements relating to possible future events and/or the Company’s future results (including results of business operations, certain projections, future financial condition, pro forma financial information, and business trends and prospects) that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, (the “Exchange Act”), and the Private Securities Litigation Reform Act of 1995 and are subject to the “safe harbor” created by those sections. The statements made in this press release that are not historical facts are forward-looking statements that are predictive in nature and depend upon or refer to future events. These forward-looking statements include, without limitation, anticipated cash flow generation and expected shareholder benefits. Such forward-looking statements often contain, or are prefaced by, words such as “will”, “may,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “pro forma”, “estimates,” “aims,” “believes,” “hopes,” “potential,” “intends,” “suggests,” “appears,” “seeks,” or variations of such words or similar words and expressions of future tense. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and, consequently, as a result of a number of factors, the Company’s actual results could differ materially from those expressed or implied by such forward-looking statements. The international pandemic, the Novel Coronavirus (“COVID-19”), negatively impacted and disrupted the Company’s business operations and had a significant negative impact on the global economy and employment in general, resulting in, among other things, a lack of demand for the Company’s services. This was exacerbated by government and client directed “quarantines”, “remote working”, “shut-downs” and “social distancing”. Some of these outcomes or by-products of the pandemic have persisted in one form or another since and there is no assurance that conditions will ever fully return to their former pre-pandemic status quo. These and certain other factors that might cause the Company’s actual results to differ materially from those in the forward-looking statements include, without limitation: (i) the loss, default or bankruptcy of one or more customers; (ii) changes in general, regional, national or international economic conditions; (iii) an act of war or terrorism, industrial accidents, or cyber security breach that disrupts business; (iv) changes in the law and regulations; (v) the effect of liabilities and other claims asserted against the Company including the failure to repay indebtedness or comply with lender covenants including the lack of liquidity to support business operations and the inability to refinance debt, failure to obtain necessary financing or the inability to access the capital markets and/or obtain alternative sources of capital; (vi) changes in the size and nature of the Company’s competition; (vii) the loss of one or more key executives; (viii) increased credit risk from customers; (ix) the Company’s failure to grow internally or by acquisition or the failure to successfully integrate acquisitions; (x) the Company’s failure to improve operating margins and realize cost efficiencies and economies of scale; (xi) the Company’s failure to attract, hire and retain quality recruiters, account managers and salesmen; (xii) the Company’s failure to recruit qualified candidates to place at customers for contract or full-time hire; (xiii) the adverse impact of geopolitical events, government mandates, natural disasters or health crises, force majeure occurrences, future global pandemics such as COVID-19 or other harmful viral or non-viral rapidly spreading diseases and such other factors as set forth under the heading “Forward-Looking Statements” in the Company’s annual reports on Form 10-K, its quarterly reports on Form 10-Q and in the Company’s other filings with the Securities and Exchange Commission (SEC). More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company is under no obligation to (and expressly disclaims any such obligation to) and does not intend to publicly update, revise, or alter its forward-looking statements whether as a result of new information, future events or otherwise.
TORONTO, ON / ACCESS Newswire / February 12, 2026 / Electrovaya Inc. (“Electrovaya” or the “Company”) (Nasdaq:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, today reported its financial results for the first quarter and fiscal year ended September 30, 2026 (“Q1 FY 2026”). All dollar amounts are in U.S. dollars unless otherwise noted.
Financial Highlights:
Revenue for Q1 FY 2026 was $15.5 million, compared to $11.1 million in Q1 2025. An increase of $4.4 million or 39% year over year
Gross margin for Q1 FY 2026 was 32.9%, compared to 30.5% in Q1 2025. An increase of 240 basis points.
Adjusted EBITDA1 was $2.0 million, compared to $0.5 million in Q1 2025, an increase of $1.4 million or 265%. Q1 2025 was the Company’s eleventh consecutive quarter of positive Adjusted EBITDA1.
Net profit was $1.0 million compared to a net loss of $0.4 million in Q1 2025, an increase of $1.4 million. Earnings per share was $0.02 for Q1 2026 compared to $(0.01) for Q1 2025.
The Company generated positive cash from operations of $1.9 million for Q1 2026, compared to cash generated from operations of $1.0 million in Q1 2025. Cash generated from operating activities before net changes in working capital was $1.7 million for FY2025 compared to cash used of $(0.3) million for Q1 2025. A significant improvement in operating cash flow of $2.0 million.
The closing cash balance for Q1 2026 was $22.7 million (non-restricted) compared to $8.2 million for Q1 2025, an increase of $14.5 million.
Key Operational and Strategic Highlights- Q1 FY2026 & Subsequent Events:
Business Development Activities
Continued progress across our core material handling vertical, with new OEM-integrated high-voltage battery systems scheduled to begin deliveries in March 2026.
Deliveries were made during the quarter to a global defense contractor for a new vehicle platform, expanding our supply relationship to two distinct applications with this OEM.
Initiated deliveries to robotic applications in January 2026 using the Company’s latest modular 48V battery systems.
Testing of the Company’s initial Airport Ground Support Equipment (GSE) battery systems is underway across a range of locations and climate conditions with a leading U.S. airline.
Established a Japanese subsidiary to support growing opportunities in Japan and the broader Asia-Pacific region.
Product & Technology Development Activities
Advanced development of an ultra-fast charging lithium-ion cell and accompanying battery system continues. This product will incorporate a next-generation anode technology integrated with the Company’s Infinity platform, delivering enhanced safety and extended cycle life while enabling charging times of approximately five minutes. Potential applications include robotics and data center infrastructure support. Sampling is targeted for 2026, with commercial availability expected in 2027.
Continued development of next-generation energy storage products, including 800V DC architectures with high-rate capabilities designed to support evolving data center ecosystems. Commercialization is targeted for 2027.
Launch of new material handling products planned for MODEX 2026 in Atlanta, including solutions targeting Class III material handling vehicles and next-generation data analytics platforms.
Progressing next generation ceramic-separator development to deliver increased performance and thermal stability. Solid-state battery development work is expected to accelerate following installation of pilot-scale equipment in March 2026.
Jamestown Manufacturing Expansion Update
Commenced site construction for both interior and exterior facility upgrades.
Initial Dry-room equipment (infrastructure required for cell manufacturing) deliveries have been received.
Hiring of key personnel to support equipment installation and automation initiatives has begun.
Strengthened Balance Sheet & Financial Position to Support Next Phase of Growth
Strengthened balance sheet through a combination of strong operational performance, support from financial partners, and an equity raise completed in November 2025. The Company ended Q1 FY2026 with foundations in place to execute the next phase of its strategy, including:
Expansion of manufacturing capacity in Jamestown, NY
Expansion into new vertical markets
Continued development of next-generation products and technologies
Management Commentary:
“The first quarter of our fiscal year is typically a lower revenue-generating period due to seasonality of our core material handling vertical and the close correlation of our business with large retailers. However, during the first quarter of Fiscal 2026, we continued to make meaningful progress across our core markets and strategic initiatives, while also achieving our year-over-year growth and profitability targets,” stated Dr. Raj DasGupta, CEO of Electrovaya. “We are expanding our offerings within material handling with new OEM-integrated high-voltage systems scheduled for initial deliveries in March, while also advancing our presence in defense, robotics, and airport ground equipment applications.”
“At the same time, we are accelerating development of ultra-fast charging battery technology and next-generation 800V DC energy storage solutions targeting robotics and data center infrastructure. Our Jamestown facility expansion is progressing with site upgrades, equipment deliveries, and key hiring underway.”
“We continued our strong growth trajectory in Q1 FY 2026, which is a quarter where we historically experience some seasonality. This quarter saw a 39% increase in revenue, a 265% increase in Adjusted EBITDA1, a Net Profit of $1 million, which gave us an earnings per share figure of $0.02, and positive cash flow from operations,” stated John Gibson, Electrovaya’s CFO. “We are moving into Q2 FY2026 and beyond with a strong balance sheet and capital to invest in continued technology development and support organic growth. We continue to draw on the EXIM facility to support the build out of the Jamestown plant and are utilizing the BMO facility to support general operations.”
Positive Financial Outlook & Fiscal 2026 Guidance:
The Company anticipates continued strong growth into FY2026 with estimated revenue growth to exceed 30% over FY 2025 (in excess of $83 million) driven by sustained demand from the Company’s largest end users of material handling batteries and our entry into additional market verticals. This guidance reflects existing purchase orders, and anticipated pipeline of key customers. This guidance also takes into consideration a percentage of anticipated revenue that may be deferred to FY 2027. This guidance is subject to change and is made barring any unforeseen circumstances. See “Forward-Looking Statements”.
Selected Annual Financial Information for the Quarter ended December 31, 2025 and 2024:
Results of Operations (Expressed in thousands of U.S. dollars)
Summary Financial Position (Expressed in thousands of U.S. dollars)
Cash flow statement (Expressed in thousands of U.S. dollars)
1 Non-IFRS Measure: Adjusted EBITDA is defined as income/(loss) from operations, plus stock-based compensation costs and depreciation and amortization costs. Adjusted EBITDA does not have a standardized meaning under IFRS. Therefore it is unlikely to be comparable to similar measures presented by other issuers. Management believes that certain investors and analysts use adjusted EBITDA to measure the performance of the business and is an accepted measure of financial performance in our industry. It is not a measure of financial performance under IFRS, and may not be defined and calculated in the same manner by other companies and should not be considered in isolation or as an alternative to IFRS measures. The most directly comparable measure to Adjusted EBITDA calculated in accordance with IFRS is income (loss) from operations.
The Company’s unaudited consolidated Financial Statements and Management Discussion and Analysis for the first quarter ended December 31, 2025 are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov, as well as on the Company’s website at www.electrovaya.com.
To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call.
For those unable to participate in the conference call, a replay will be available for two weeks beginning on February 12, 2026, through February 26, 2026. To access the replay, the dial-in number is 877-481-4010 and 919-882-2331. The replay passcode is 53605.
Investor and Media Contact:
Jason Roy VP, Corporate Development and Investor Relations Electrovaya Inc. jroy@electrovaya.com 905-855-4618
About Electrovaya Inc.
Electrovaya Inc. (NASDAQ: ELVA; TSX: ELVA) is a technology-driven lithium-ion battery company commercializing its proprietary Infinity Battery Technology, designed for superior safety, longevity, and performance in mission-critical industrial, robotics, defense and energy-storage applications. The Company leverages a strong intellectual-property portfolio and advanced materials expertise to deliver durable, high-value battery solutions to global OEMs and end users. To support growing demand and advancing energy-security and national-security objectives, Electrovaya is expanding U.S. manufacturing through its 52-acre Jamestown, New York site, which includes a 137,000-square-foot facility planned as its first gigafactory. Electrovaya also operates two Canadian sites focused on research, engineering, and product commercialization. For more information, please visit www.electrovaya.com.
Forward-Looking Statements
This press release contains forward-looking statements, including statements that relate to, among other things, revenue, purchase orders, revenue guidance of more than 30% revenue growth (exceeding $83 million) over FY 2025 in FY 2026, order growth and customer demand in FY 2026, mass production schedules, , the Company’s ability to start production of cells at the Jamestown, New York facility by end of CY 2026, future business opportunities, use of proceeds, ability to deliver to customer requirements and revenue growth forecasts for the fiscal year ending September 30, 2026. Forward-looking statements can generally, but not always, be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “possible”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective” and “continue” (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate are necessarily applied in making forward looking statements and such statements are subject to risks and uncertainties, therefore actual results may differ materially from those expressed or implied in such statements and undue reliance should not be placed on such statements. Material assumptions made in disclosing the forward-looking statements included in the news release include, but are not limited to assumptions that the Company’s customers will deploy its products in accordance with communicated timing and volumes, that the Company’s customers will complete new distribution centers in accordance with communicated expectations, intentions and plans, the sum of anticipated new orders in FY 2026 based on customers’ historical patterns and additional demand communicated to the Company and its partners but not yet provided as a purchase order with the Company’s current firm purchase order backlog totaling approximately $100-125 million, a discount of approximately 25% used in the revenue modeling applied to the overall expected order pipeline to account for potential delays in customer orders, expected decreases in input and material costs combined with stable selling prices in FY 2026, and a stable political climate with respect to exports from Canada to the United States, the start up time for manufacturing in Jamestown NY is estimated towards the end of FY 2026 or first quarter of FY 2027, the ability to leverage IRA45X credits, the ability to receive incentives from the state of New York, the ability to improve margins from domestic manufacturing, and the ability to attract additional customers through domestic manufacturing. Factors that could cause actual results to differ materially from expectations include but are not limited to customers not placing orders roughly in accordance with historical ordering patterns and communicated intentions resulting in annual revenue growth in FY 2026 of more than 30% over FY 2025 (exceeding $83 million), the predictability of sales and success of the Company’s products in verticals other than material handling, the imposition of a tariff regime on Canadian exports by the United States, macroeconomic effects on the Company and its business and on the lithium battery industry generally, the Company’s liquidity and cash availability in excess of its operational requirements, and the ability to generate and sustain sales orders. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company’s Annual Information Form for the year ended September 30, 2025 under “Risk Factors”, in the Company’s base shelf prospectus dated September 17, 2024, and in the Company’s most recent annual and interim Management’s Discussion and Analysis under “Qualitative And Quantitative Disclosures about Risk and Uncertainties” as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
The revenue for the periods described herein constitute future‐oriented financial information and financial outlooks (collectively, “FOFI”), and generally, is, without limitation, based on the assumptions and subject to the risks set out above under “Forward‐Looking Statements”. Although management believes such assumptions to be reasonable, a number of such assumptions are beyond the Company’s control, and there can be no assurance that the assumptions made in preparing the FOFI will prove accurate. FOFI is provided for the purpose of providing information about management’s current expectations and plans relating to the Company’s future performance and may not be appropriate for other purposes.
The FOFI does not purport to present the Company’s financial condition in accordance with IFRS, and it is expected that there may be differences between audited results and preliminary results, and the differences may be material. The inclusion of the FOFI in this news release disclosure should not be regarded as an indication that the Company considers the FOFI to be a reliable prediction of future events, and the FOFI should not be relied upon as such.
YFQ-42A Uncrewed Fighter Jet Executes Mission Autonomy Test
SAN DIEGO, CA / ACCESS Newswire / February 12, 2026 / General Atomics Aeronautical Systems, Inc. (GA-ASI) passed a new milestone this month, successfully integrating 3rd-party mission autonomy into the YFQ-42A Collaborative Combat Aircraft to conduct its first semi-autonomous airborne mission.
For this test, GA-ASI used mission autonomy software supplied by Collins Aerospace, an RTX business, to fly the new YFQ-42A CCA, designed and developed by GA-ASI for the U.S. Air Force. The Sidekick Collaborative Mission Autonomy software was seamlessly integrated with the YFQ-42A’s flight control system, utilizing the Autonomy Government Reference Architecture (A-GRA). The integration enabled robust and reliable data exchange between the autonomy software and the aircraft’s mission systems, ensuring precise execution of mission autonomy commands.
During the recent testing, autonomy mode was activated via the Ground Station Console (GSC). Once enabled, a human autonomy operator on the ground transmitted various commands directly to the YFQ-42A, which executed the instructions with high accuracy for more than four hours. This test highlights the effectiveness of Sidekick’s advanced mission autonomy capabilities and the flexibility of the A-GRA standard in supporting complex operational requirements.
“We are excited to collaborate with Collins to deliver enhanced autonomous mission solutions,” said David R. Alexander, president of GA-ASI. “The integration of Sidekick with our YFQ-42A demonstrates our commitment to innovation and operational excellence in unmanned aircraft technology.”
This achievement underscores GA-ASI’s dedication to advancing autonomous systems for defense applications. The combination of Sidekick autonomy software and YFQ-42A mission systems, connected through A-GRA, sets new benchmarks for combat autonomy, mission flexibility, operator control, and system reliability.
“The autonomy capabilities showcased in this flight highlight our dedicated investment to advance collaborative mission autonomy,” said Ryan Bunge, vice president and general manager for Strategic Defense Solutions, Collins Aerospace, an RTX business. “The rapid integration of Sidekick onto this General Atomics platform and its immediate ability to support a broad spectrum of combat-relevant behaviors underscores the strength and flexibility of our open systems approach.”
This first mission autonomy flight continues a robust YFQ-42A development schedule for GA-ASI that began in August 2025 with initial flights of YFQ-42A Tail One. In less than six months, GA-ASI has built and flown multiple YFQ-42A aircraft, including push-button autonomous takeoffs and landings.
GA-ASI has been building and flying uncrewed jets for nearly two decades, beginning with the company-funded, weaponized MQ-20 Avenger® in 2008. Ongoing company investment in Avenger continues to yield results, as the aircraft routinely serves as a CCA surrogate for advanced autonomy development and testing in both government programs and company-funded research and development.
As a family-owned, privately held defense company for more than 30 years, GA-ASI is known as one of the original disruptors in the U.S defense industry, pioneering and inventing many of the technologies now considered ubiquitous in uncrewed aircraft operations around the world. The company re-invests more than 35 percent of annual revenue into internal research and design projects, building ahead of need and designing capabilities ahead of requirements.
In 2025, for example, an internally funded Avenger demo featured both GA-ASI’s TacACE autonomy software and Shield AI’s Hivemind software on the same flight, with the MQ-20 seamlessly switching between AI pilots while still airborne. Later in the year, GA-ASI teamed with Lockheed Martin and L3 Harris for another Avenger flight demo, connecting the MQ-20 with an F-22 Raptor for an advanced manned-unmanned teaming mission that allowed the human fighter pilot to command the Avenger as an autonomous CCA surrogate via tablet control from the cockpit.
In 2024, GA-ASI first flew its XQ-67A Off-Board Sensing Station (OBSS) jet, developed in collaboration with Air Force Research Laboratory (AFRL). This early CCA prototype validated the “genus/species” concept pioneered with AFRL as part of the Low-Cost Attritable Aircraft Platform Sharing (LCAAPS) program, focused on building several aircraft variants from a common core chassis.
GA-ASI’s Gambit Series envisions multiple missionized variants from this common core concept, with XQ-67A already showcasing airborne sensing and YFQ-42A illustrating air-to-air combat. Using this novel manufacturing approach to drive overall customer value, GA-ASI can quickly pivot to diverse missions with less time and cost investment than building a clean-sheet aircraft.
About GA-ASI General Atomics Aeronautical Systems, Inc., is the world’s foremost builder of Unmanned Aircraft Systems (UAS). Logging more than 9 million flight hours, the Predator® line of UAS has flown for over 30 years and includes MQ-9A Reaper®, MQ-1C Gray Eagle®, MQ-20 Avenger®, and MQ-9B SkyGuardian®/SeaGuardian®. The company is dedicated to providing long-endurance, multi-mission solutions that deliver persistent situational awareness and rapid strike.
Avenger, EagleEye, Gray Eagle, Lynx, Predator, Reaper, SeaGuardian, and SkyGuardian are trademarks of General Atomics Aeronautical Systems, Inc., registered in the United States and/or other countries.
TORONTO, ON / ACCESS Newswire / February 12, 2026 / Iglesia Ni Cristo (INC), also known as the Church of Christ, is widely recognized for its organized approach to faith-based community service and humanitarian outreach. As a global Christian organization, INC demonstrates how religious belief, when paired with structure and unity, can translate into consistent, large-scale service that addresses social needs, disaster relief, and long-term community development.
Through coordinated programs and disciplined volunteerism, Iglesia Ni Cristo continues to play a visible role in supporting local communities across multiple regions and cultures.
What is Iglesia Ni Cristo (INC)?
Iglesia Ni Cristo is a Christian religious organization founded in the Philippines in 1914. Its teachings are based solely on the Bible, emphasizing worship of the one true God, faith in Jesus Christ, and obedience to biblical commandments.
From its inception, INC has emphasized unity in doctrine and orderly Church administration. These principles have guided its steady expansion – first throughout the Philippines and eventually across six inhabited continents.
Today, Iglesia Ni Cristo has established congregations in 168 countries and territories, making it one of the most geographically widespread Christian organizations. While worship remains central, the Church is also known for sustained community engagement and humanitarian initiatives.
What Defines a Bible-Based Church According to INC?
Iglesia Ni Cristo identifies itself as Bible-based through strict adherence to Scripture as the sole authority for faith and practice. The Church teaches that salvation includes baptism and active membership within the body of Christ.
INC worship services are held twice weekly and follow a consistent, reverent format worldwide. This uniformity reinforces discipline, shared values, and unity among members regardless of location.
For INC members, being Bible-based extends beyond belief. It includes alignment between doctrine, personal conduct, and service to others. The Church teaches that unity under its administration is a biblical mandate, enabling collective action that is focused, accountable, and effective.
How Does Iglesia Ni Cristo Help Local Communities?
Iglesia Ni Cristo supports communities through organized, Church-wide programs rather than isolated charitable efforts. Its humanitarian work is primarily carried out through:
Felix Y. Manalo Foundation – the Church’s charitable arm focused on social welfare, poverty alleviation, and humanitarian aid
Lingap sa Mamamayan (Care for Humanity) – programs that provide food assistance, medical and dental services, clothing, and disaster relief
These initiatives operate in both urban centers and remote areas, allowing INC to mobilize trained volunteers quickly and deliver aid efficiently during emergencies and long-term outreach efforts.
Global Reach and Public Recognition of Iglesia Ni Cristo
Iglesia Ni Cristo’s scale of volunteer participation has gained international recognition. In 2018, the Church set a Guinness World Record for the largest charity walk, highlighting its capacity for coordinated global action.
In 2022, the Felix Y. Manalo Foundation received the Presidential Banaag Award from the Philippine government in recognition of its contributions to humanitarian work and poverty reduction.
These milestones underscore how structured volunteerism and consistent service are defining characteristics of Iglesia Ni Cristo’s community impact.
Faith, Organization, and Lasting Community Impact
By combining doctrinal unity with organized outreach programs, Iglesia Ni Cristo continues to influence how faith-based organizations engage with society. Its model demonstrates that religious conviction-when paired with discipline, accountability, and long-term commitment-can result in measurable, sustained service across diverse local communities worldwide.
A new category of intentional wildlife travel that distills the safari to its most meaningful impact moments
HIGH POINT, NC / ACCESS Newswire / February 12, 2026 / Rewild Safaris today announced their Essential Series, a purpose‑driven collection of curated wildlife journeys built for travelers seeking deeper meaning in their vacation time. Designed with intention, not compromise, each itinerary distills the essential elements of a transformative safari into a single impactful week. These journeys connect guests directly with iconic wildlife, local conservation groups, and the ecosystems where our collective protection efforts matter most.
Rather than shortening a classic safari, the Essential Series are purpose‑built from the outset. Each trip is crafted to maximize field time, minimize transit, and center travelers inside the stories of species, landscapes, and people working to protect them.
“A meaningful safari is defined by purpose and connection, not by how long you’re away,” said James Ward, Chief Explorations Officer and award‑winning conservation photographer. “With our Essential Series safaris, we’ve kept only what matters most: immersive wildlife encounters, hands-on conservation access, and the ability to see the wild through the eyes of the people safeguarding it. If travelers can give us a week, we can give them something life‑changing.”
Every itinerary is grounded in nature‑positive travel, long‑standing conservation partnerships, and field experiences that elevate understanding of ecosystems at critical moments in their conservation timeline.
2026 Safaris
Luangwa Unplugged (Zambia, June) – Walking safaris and leopard sightings in South Luangwa Valley
Wander Wild Pantanal (Brazil, October) – Jaguar tracking the world’s largest tropical wetland
Tracks & Tales Kenya (Kenya, October) – Rhino conservation at Ol Pejeta and big cats in Samburu
Wild Horizons (Zambia, November) – Off-the-beaten-path exploration in Kafue National Park
Chasing Stripes (India, December) – Tiger tracking in Bandhavgarh and Kanha during green season
2027 Safaris
Chasing Shadows (India, February) – Snow leopard quest in the Ulley Valley
Chasing Stripes (India, March) – Tiger tracking in Bandhavgarh and Kanha
Hwange Tracks & Traditions (Zimbabwe, March) – Elephant Express rail and rhino conservation in Hwange
Wild & Free Zambezi (Zambia, April) – Canoeing and game drives in the Lower Zambezi
Luangwa Unplugged (Zambia, June) – Walking safaris and leopard sightings in South Luangwa Valley
Wander Wild Pantanal (Brazil, October) – Jaguar tracking in the world’s largest tropical wetland
Wild Horizons (Zambia, November) – Off-the-beaten-path exploration in Kafue National Park
Extensions
For travelers who feel drawn to stay longer, each journey offers organic extensions, deeper wildlife time, community visits, or additional conservation access, allowing travelers to broaden their impact at their own pace.
Rewild Safaris creates transformative, conservation‑driven journeys that immerse travelers in the wild, reconnect them with nature, and directly support the protection of endangered species and ecosystems. Founded by safari expert Tom LaRock and led by award‑winning conservation photographer James Ward, Rewild offers small‑group and private safaris across five continents, each grounded in ethical travel, restoration, and meaningful community partnership.
SF-based Company Delivers $34-45M in Annual Value for Refineries Through Advanced AI That Combines Data, Engineering Analysis, and Organizational Knowledge
SAN FRANCISCO, CA / ACCESS Newswire / February 12, 2026 / Archimetis, the AI-powered operational reasoning system for energy, chemical, and industrial plants, today announced it has raised $11.5M in funding led by Inspired Capital, with participation from Homebrew, MCJ, Borusan Ventures, Incite, and leading operators including Jeff Dean, Matt Rogers, John Giannandrea, Alfred Spector, and Diane Tang.
Founded in 2023, Archimetis is revolutionizing how refineries and heavy industrial plants operate by solving a problem that has plagued the industry for decades: teams working under immense pressure with inadequate support systems. When production lines shut down unexpectedly, operations teams face overwhelming, noisy data that isn’t consistently collected or organized, forcing them to spend days gathering information from sensors, tickets, PDFs, emails, and the institutional knowledge locked in their most experienced team members’ minds. Multiplying by the hundreds of smaller daily issues faced by these operators, millions of dollars optimization opportunities go uncaptured every year.
Archimetis builds on breakthrough AI technology from Google DeepMind’s AlphaCode to act as an operational reasoning system. The platform combines data from disparate sources, continuously monitors systems for issues and opportunities, performs complex engineering analysis, and packages insights for immediate decision-making. Early results are notable: a 120,000 barrel-per-day refinery demonstrated $34-45 million in bottom line impact through margin improvement, cost savings, and enhanced process safety.
“For years, industrial operations teams have been asked to manage ever-increasing operational complexity with tools that haven’t kept pace,” said Paul Manwell, Co-Founder and CEO of Archimetis. “Recent breakthroughs in AI reasoning have finally made it possible to solve this problem for any sized plant. We can now give every operations and engineering team member the judgments and instincts of the very best, while unlocking organizational knowledge so best practices are used every shift. This is the right technology at the right time to help engineering and operations teams transform their industry, which has been underserved for far too long.”
Elevating Industrial Operations Through AI Reasoning
In refineries and industrial plants, the challenge isn’t just about having data; it’s about making sense of it under pressure. Data is fragmented across sensors, maintenance systems, manufacturer documentation, and institutional knowledge. Traditional approaches rely on offline modeling, with Excel serving as the primary analysis tool.
Archimetis’s operational reasoning system bridges this gap by deploying a modern AI stack that integrates leading language models and analytics tools in a secure, private cloud environment. The system regularly monitors operations for issues and opportunities, combines structured and unstructured data from multiple sources, applies global and company-specific best practices, and performs the kind of complex engineering analysis that previously required days of manual work.
“The Archimetis team represents exactly the kind of technical depth and operational excellence we look for,” said Charlotte Ross, Partner at Inspired Capital. “Paul and Aaron spent years building the data infrastructure and AI systems that power Google-Paul as Chief of Staff to Sundar Pichai and founder of Google’s cross-company data warehouse, and Aaron leading Google’s internal developer infrastructure. They deeply understand how to build systems that work at scale under pressure. We believe Archimetis is positioned to become the operational intelligence layer for the global industrial sector.”
The team is currently targeting Energy, Chemicals, and Metals customers, and has already built global operations, working with industry leaders in refining and industrials including Borusan. The funding will be used to continue scaling these teams and to build on the team’s differentiated technology to address a broader range of use cases.
About Archimetis
Archimetis is an AI-powered operational reasoning system that transforms the performance of energy, chemical, and industrial plants. By combining data from disparate sources, performing complex engineering analysis, and applying organizational best practices, Archimetis elevates every operations and engineering team member with the judgments and instincts of the very best. Founded in 2023 and headquartered in San Francisco, CA, Archimetis is backed by Inspired Capital, Homebrew, and leading angel investors. To learn more, visit https://www.archimetis.ai/.
A free, merit-based summer program for students across the country
PHOENIX, ARIZONA / ACCESS Newswire / February 12, 2026 / Applications are now open for Camp O’Connor USA, a free, merit-based summer day camp designed to educate, encourage, and inspire the next generation of leaders while also celebrating America’s 250th anniversary. Participants gain an experiential understanding of the structure and branches of government, as well as the duties and responsibilities of citizenship, through real-world learning activities that connect the nation’s founding ideals to civic life today.
Middle school students are invited to apply for the five-day program presented by the Sandra Day O’Connor Institute, taking place June 8-12, 2026, and held at the Arizona State University Sandra Day O’Connor College of Law in Phoenix, Arizona.
Camp O’Connor USA brings together current 7th- and 8th-grade students for an interactive learning experience that builds civic knowledge and introduces the foundations of civic life through collaborative projects, discussions, and simulations demonstrating how public institutions function and how young people can participate in their communities. Special programming throughout the week will highlight the significance of America 250, encouraging students to understand the nation’s rich history and their role in shaping the future.
“Camp O’Connor gives students the opportunity to see how civic knowledge connects to everyday life,” said Sarah Suggs of the Sandra Day O’Connor Institute. “Participants leave with a greater understanding of our democratic republic and a deeper appreciation for our nation’s ideals.”
Each year, Camp O’Connor welcomes more than 100 students from across the United States, fostering a diverse environment that encourages curiosity, respectful dialogue, and teamwork. Program highlights include educational field trips to civic institutions such as the Arizona Supreme Court, the Arizona Capitol, and the Arizona legislative chambers, opportunities to interact with public leaders, and hands-on activities that bring classroom concepts to life. Videos and past camp highlights are available on the Institute’s YouTube channel.
Additional details and application information can be found at CampOConnor.org. Applications for the 2026 session are due Tuesday, March 31, with notification timelines and any additional updates posted on the website.
About the Sandra Day O’Connor Institute Founded in 2009 by retired U.S. Supreme Court Justice Sandra Day O’Connor, the Sandra Day O’Connor Institute is a nonprofit, nonpartisan 501(c)(3) organization dedicated to advancing civil discourse, civic engagement, and civics education. Through educational programs, public forums, and digital resources, the Institute continues Justice O’Connor’s lifelong commitment to strengthening civic understanding. Learn more at OConnorInstitute.org
Former Sterling Check Chief Legal & Risk Officer brings deep public company, M&A, and enterprise governance expertise to Accurate’s executive leadership team
IRVINE, CA / ACCESS Newswire / February 12, 2026 / Accurate, a leading provider of global compliant background checks and monitoring solutions, has appointed Steve Barnett as their new Chief Legal Officer (CLO) and Corporate Secretary. Barnett brings extensive experience leading global legal, governance, compliance, and enterprise risk functions for complex, high-growth organizations. He has successfully guided companies through large-scale acquisitions, consequential regulatory and litigation matters, IPOs, and strategic transformations across both public and private equity-backed environments.
“In a category defined by rapid change, increasing regulatory complexity, and global expansion, strong legal leadership is essential,” said Tim Dowd, CEO of Accurate. “Steve’s deep expertise across compliance, governance, and risk strengthens our ability to serve the world’s largest employers with the commitment, speed and quality they expect from a true partner. His experience advising executive teams and boards through transformational growth will be critical as we continue to scale globally.”
Barnett joins Accurate from Sterling Check Corp., where he served as EVP, Chief Legal & Risk Officer, and Secretary. During his tenure, Sterling completed multiple acquisitions, a successful IPO, and its 2024 sale for $2.2 billion. He led global teams spanning Legal, Compliance, Enterprise Risk Management, and Global Quality, and worked closely with private equity sponsors and the board to enable sustained growth.
Prior to Sterling, Barnett held senior legal leadership roles at Jackson Hewitt and NRT Incorporated. He began his legal career as a corporate associate at Skadden, Arps, Slate, Meagher & Flom LLP.
“I am excited to join the leadership team at Accurate and contribute to the company’s continued growth and success,” said Barnett. “Accurate has built a reputation for combining enterprise scale with true partnership-simplifying complex screening challenges for global employers while maintaining an unwavering commitment to compliance and integrity. I’m proud to be part of the next chapter of that journey.”
Barnett holds a Juris Doctor from Fordham University School of Law.
Accurate provides background screening solutions and support for companies of all sizes, including some of the world’s largest employers. With over 25 years of experience and operations in more than 240 countries and territories, Accurate helps organizations hire quickly, confidently, and compliantly. Built for global scale, Accurate’s platform manages complex screening needs while remaining easy to use for both employers and candidates. The company also brings deep expertise across key industries, with dedicated teams in sectors such as healthcare, retail, transportation, and insurance. As a committed partner, Accurate operates with the drive, knowledge, and speed to keep its customers ahead of the curve and help them make seamless first impressions. For more information, visit www.accurate.com.
NEW YORK, NY / ACCESS Newswire / February 12, 2026 / SMX (Security Matters) Public Limited Company (NASDAQ:SMX)(NASDAQ:SMXWW) (the “Company”), today announced that the reverse stock split of the Company’s ordinary shares will begin trading on an adjusted basis giving effect to the reverse stock split on February 17, 2026 under the existing ticker symbol “SMX”. The new CUSIP number of the Company’s ordinary shares will be G8267K406 and the new ISIN code will be IE000B5COQZ5.
On May 2, 2025, the Company’s Shareholders approved a proposal to amend the Company’s constitution to allow the Company’s Board of Director’s to consolidate and/or divide all or any of the Company’s classes of shares as the Board of Directors sees fit. As such, Shareholder approval was not required to effect the reverse stock split.
The Company’s Board of Directors’ fixed the split ratio at 4.8828125:1, every 4.8828125 ordinary shares of the Company with a nominal value of $0.00000000002502543568 per share will be automatically combined into one (1) ordinary share with a nominal value of $0.00000000012219451015625 per share. This will reduce the number of outstanding ordinary shares of the Company from approximately 10 million to approximately 2 million.
Outstanding Company options, warrants and other applicable convertible securities, including the Company’s warrants listed on the Nasdaq Capital Market under the symbol SMXWW which will retain its existing CUSIP number, will be proportionately adjusted in accordance with their respective terms. No fractional shares will be issued in connection with the reverse stock split. Instead, the Company will aggregate the fractional entitlements of shareholders who otherwise would be entitled to receive fractional shares because they hold a number of ordinary shares not evenly divisible by 4.8828125 ordinary shares pursuant to the reverse stock split or they hold less than the number of ordinary shares which should be consolidated into one ordinary share pursuant to the reverse stock split and, to the extent possible, sell such aggregated fractional ordinary shares on the basis of prevailing market prices at such time.
Continental Stock Transfer & Trust Company is acting as exchange agent for the reverse stock split and will send instructions to any shareholders of record who hold stock certificates regarding the exchange of certificates. Shareholders with shares held in book-entry form or through a bank, broker, or other nominee are not required to take any action and will see the impact of the reverse stock split reflected in their accounts on or after February 18, 2026. Such beneficial holders may contact their bank, broker, or nominee for more information. Continental Stock Transfer may be reached for questions at (212) 509-4000.
As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions, or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intends,” “may,” “will,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example, the Company’s ability to regain compliance with applicable Nasdaq standards or comply with the continued listing standards of Nasdaq even if the Company regains compliance. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company’s shares on Nasdaq; changes in applicable laws or regulations; any lingering effects of the COVID-19 pandemic on SMX’s business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators are unable to successfully develop and commercialize SMX’s products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in SMX’s filings from time to time with the Securities and Exchange Commission.
