Global New Product Rollout Continues with High-Impact Launch Events
Company Continues to Execute “iRobot Elevate” Turnaround Strategy

BEDFORD, Mass., May 6, 2025 /PRNewswire/ — iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced its financial results for the first quarter ended March 29, 2025.

“We continued to make meaningful progress on our iRobot Elevate turnaround strategy in the first quarter and initiated the largest new product launch in iRobot’s history,” said Gary Cohen, iRobot CEO. “We are encouraged by the positive reactions from distributors, retailers and consumers, and expect to see an uptick in sales later in the year as availability of our suite of new, technologically innovative Roomba® vacuums and 2-in-1 vacuums and mops expands. As our Board of Directors continues its review of strategic alternatives for our business, we remain focused on executing our proven strategy and delivering the products our customers have come to know and love.”

The Company has achieved a significant reduction in operating expenses and production costs by transforming its R&D and supply chain model to better leverage the Company’s design capabilities and contract manufacturing partnerships. This reinvention of the way iRobot operates has allowed for a greater focus on innovation and improvements to product features, quality, and software. With respect to the current tariff conditions, the majority of the Company’s U.S. imports come from Vietnam and are currently subject to a 10% tariff rate.

“Our first quarter performance reflects what has been a major transitional period for iRobot as we worked to clear our sales channels of legacy product inventory. As we continue to navigate a dynamic macro environment, we expect our new products and lower overall cost structure to drive improved profitability over the long term. We expect to see solid sales traction later this year to support year-over-year revenue growth in 2025, and we remain on track to deliver gross-margin expansion and improved cash flow from operations this year,” concluded Cohen.

Marketing Highlights

In late March and early April 2025, iRobot announced the availability in North America and select European markets its suite of technologically innovative Roomba® vacuums and 2-in-1 vacuums and mops. Media coverage in North America and Europe was impressive with more than 200 pieces of media coverage in some of the world’s most influential tech/consumer outlets, reaching a potential audience (total UVPM/Circulation/Reach) of more than 2.5 billion.On April 16, 2025, iRobot introduced its new product lineup in Japan, engaging with more than 100 media outlets and influencers, resulting in more than 600 pieces of media coverage in one week.On April 23, 2025, iRobot announced the availability of the Roomba® Max 705 Vac Robot + AutoEmpty™ Dock in North America and select European markets.iRobot has continued to receive positive media coverage and product reviews around the world, including in Tom’s Guide US, Engadget US, Vacuum Wars US, The Independent UK, La Voz de Galicia Spain, Les Numeriques France, Fuji News Network and All the Things.

First Quarter 2025 Financial Results (in millions, except per share amounts and percentages)

Additional Financial Highlights 

As of March 29, 2025, the Company’s cash and cash equivalents including restricted cash totaled $112.3 million, compared with $138.0 million at the end of the fourth quarter of 2024. During the third quarter of 2024, the Company elected to draw down $40 million from the restricted cash that is set aside for future repayment of its term loan, subject to limited ability of the Company to utilize such amount at the discretion of the lenders for the purchase of inventory. The Company repaid that amount to restricted cash during the first quarter of 2025.As of March 29, 2025, the Company reduced inventory to $69.0 million, compared with $76.0 million at the end of the fourth quarter of 2024.In the first quarter of 2025, revenue decreased 39.9% in the U.S., 26.9% in EMEA, and 20.8% in Japan, respectively, over the prior-year period. Excluding the unfavorable foreign currency impact, Japan revenue decreased 10% and EMEA revenue decreased 24% over the prior-year period. Q1 2025 revenue was impacted by additional promotional spending to stimulate sell-through of legacy products ahead of the Company’s 2025 new product launch, along with ongoing competitive challenges that the Company is addressing with its new product launches.Revenue from mid-tier robots (with an MSRP between $300 and $499) and premium robots (with an MSRP of $500 or more) represented 76% of total robot sales in the first quarter of 2025, compared with 81% in the same period last year.

Ongoing Strategic Review

As previously announced, the Company’s Board of Directors is conducting a review of strategic alternatives, including, but not limited to, exploring a potential sale or strategic transaction, and refinancing the Company’s debt. This review process is ongoing. 

The Board has not set a timetable for the conclusion of this review, and there can be no assurance that the exploration of strategic alternatives will result in any transactions or outcomes. The Company does not intend to disclose developments relating to this process until it determines that further disclosure is appropriate or necessary.

The Company remains actively engaged in ongoing collaborative and constructive discussions with its primary lender while the Board continues its strategic review process. On April 30, 2025, the Company further amended its existing term loan to extend the covenant waiver under the term loan to June 6, 2025. 

In light of the ongoing strategic review, the Company will not be hosting a first quarter 2025 results earnings conference call and webcast, and will not be providing a 2025 outlook at this time.

About iRobot Corp.

iRobot is a global consumer robot company that designs and builds thoughtful robots and intelligent home innovations that make life better. iRobot introduced the first Roomba robot vacuum in 2002. Today, iRobot is a global enterprise that has sold more than 50 million robots worldwide. iRobot’s product portfolio features technologies and advanced concepts in cleaning, mapping and navigation. Working from this portfolio, iRobot engineers are building robots and smart home devices to help consumers make their homes easier to maintain and healthier places to live. For more information about iRobot, please visit www.irobot.com. 

Cautionary Statement Regarding Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which relate to, among other things: the Company’s expectations regarding the financial profile and impact of newly launched products in 2025; expectations regarding improved profitability; expectations regarding 2025 product sales and related revenue growth, achievement of gross margin expansion and improved cash flow from operations; the Board’s review of strategic alternatives for the business; and the Company’s business plans and strategies and the anticipated impact thereof. These forward-looking statements are based on the Company’s current expectations, estimates and projections about its business and industry, all of which are subject to change. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “expect,” “target,” similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control, and are not guarantees of future results. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the Company’s ability to obtain capital when desired on favorable terms, if at all; (ii) the Company’s ability to realize the benefits of its operational restructuring; (iii) the impact of various global conflicts on the Company’s business and general economic conditions; (iv) the Company’s ability to implement its business strategy; (v) the risk that disruptions from the operational restructuring will harm the Company’s business, including current plans and operations; (vi) the ability of the Company to retain and hire key personnel; (vii) legislative, regulatory and economic developments affecting the Company’s business; (viii) general economic and market developments and conditions; (ix) the evolving legal, regulatory and tax regimes under which the Company operates; (x) potential business uncertainty, including changes to existing business relationships that could affect the Company’s financial performance; (xi) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities; (xii) current supply chain challenges; (xiii) the financial strength of our customers and retailers; (xiv) the impact of any applicable tariffs on goods imported into the United States; (xv) competition; and (xvi) the results and impact of the Board’s strategic review of alternatives for the business, as well as the Company’s response to any of the aforementioned factors. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” in the Company’s most recent annual and quarterly reports filed with the SEC and any subsequent reports on Form 10-K, Form 10-Q or Form 8-K filed from time to time and available at www.sec.gov. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability and similar risks, any of which could have a material adverse effect on the Company’s financial condition, results of operations, or liquidity. The forward-looking statements included herein are made only as of the date hereof. The Company does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

iRobot Corporation
Explanation of Non-GAAP Measures

In addition to disclosing financial results in accordance with U.S. GAAP, this earnings release contains references to the non-GAAP financial measures described below. We use non-GAAP measures to internally evaluate and analyze financial results. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and enable comparison of our financial results with other public companies, many of which present similar non-GAAP financial measures.

Our non-GAAP financial measures reflect adjustments based on the following items. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations from these results should be carefully evaluated.

Amortization of Acquired Intangible Assets: Amortization of acquired intangible assets consists of amortization of intangible assets including completed technology, customer relationships, and reacquired distribution rights acquired in connection with business combinations as well as any non-cash impairment charges associated with intangible assets in connection with our past acquisitions. Amortization charges for our acquisition-related intangible assets are inconsistent in size and are significantly impacted by the timing and valuation of our acquisitions. We exclude these charges from our non-GAAP measures to facilitate an evaluation of our current operating performance and comparisons to our past operating performance.

Net Merger, Acquisition and Divestiture (Income) Expense: Net merger, acquisition and divestiture (income) expense primarily consists of transaction fees, professional fees, and transition and integration costs directly associated with mergers, acquisitions and divestitures, including with respect to the iRobot-Amazon Merger. It also includes business combination adjustments including adjustments after the measurement period has ended. During the first quarter of fiscal 2024, the adjustment included the one-time net termination fee received as a result of the termination of the iRobot-Amazon Merger. The occurrence and amount of these costs will vary depending on the timing and size of these transactions. We exclude these charges from our non-GAAP measures to facilitate an evaluation of our current operating performance and comparisons to our past operating performance.

Stock-Based Compensation: Stock-based compensation is a non-cash charge relating to stock-based awards. We exclude this expense as it is a non-cash expense, and we assess our internal operations excluding this expense and believe it facilitates comparisons to the performance of other companies.

Restructuring and Other: Restructuring charges are related to one-time actions associated with realigning resources, enhancing operational productivity and efficiency, or improving our cost structure in support of our strategy. Such actions are not reflective of ongoing operations and include costs primarily associated with severance and related costs, charges related to paused work unrelated to our core business, costs associated with the Chief Executive Officer transition and other non-recurring costs directly associated with resource realignments tied to strategic initiatives or changes in business conditions. We exclude these items from our non-GAAP measures when evaluating our recent and prospective business performance as such items vary significantly based on the magnitude of the action and do not reflect anticipated future operating costs. In addition, these charges do not necessarily provide meaningful insight into the fundamentals of current or past operations of our business.

Gain/Loss on Strategic Investments: Gain/loss on strategic investments includes fair value adjustments, realized gains and losses on the sales of these investments and losses on the impairment of these investments. We exclude these items from our non-GAAP measures because we do not believe they correlate to the performance of our core business and may vary in size based on market conditions and events. We believe that the exclusion of these gains or losses provides investors with a supplemental view of our operational performance.

Debt Issuance Costs: Debt issuance costs include various incremental fees paid to third parties and warrants issued in connection with the issuance or amendment of debt. We exclude these charges from our non-GAAP measures to facilitate an evaluation of our current operating performance and comparisons to our past operating performance.

Income Tax Adjustments: Income tax adjustments include the tax effect of the non-GAAP adjustments, calculated using the appropriate statutory tax rate for each adjustment. We regularly assess the need to record valuation allowances based on the non-GAAP profitability and other factors. We also exclude certain tax items, including the impact from stock-based compensation windfalls/shortfalls, which are not reflective of income tax expense incurred as a result of current period earnings. We believe disclosure of the income tax provision before the effect of such tax items is important to permit investors’ consistent earnings comparison between periods.

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SOURCE iRobot Corporation

Third quarter summary:

GAAP revenue increased 8.6% and GAAP operating income increased 23.8% for the fiscal three months ended March 31, 2025, compared to the prior fiscal year quarter.Non-GAAP adjusted revenue increased 7.0% and non-GAAP adjusted operating income increased 17.6% for the fiscal three months ended March 31, 2025, compared to the prior fiscal year quarter.1GAAP EPS was $1.52 per diluted share for the fiscal three months ended March 31, 2025, compared to $1.19 per diluted share in the prior fiscal year quarter.

Fiscal year-to-date summary:

GAAP revenue increased 6.3% and GAAP operating income increased 13.5% for the fiscal year-to-date period ended March 31, 2025, compared to the prior fiscal year-to-date period.Non-GAAP adjusted revenue increased 6.1% and non-GAAP adjusted operating income increased 8.2% for the fiscal year-to-date period ended March 31, 2025, compared to the prior fiscal year-to-date period.1GAAP EPS was $4.49 per diluted share for the fiscal year-to-date period ended March 31, 2025, compared to $3.85 per diluted share in the prior fiscal year-to-date period.Cash and cash equivalents were $39.9 million at March 31, 2025, and $27.3 million at March 31, 2024.Debt outstanding related to credit facilities was $170 million at March 31, 2025, and $250 million at March 31, 2024.

Full year fiscal 2025 guidance (Dollars In millions):2

MONETT, Mo., May 6, 2025 /PRNewswire/ — Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading financial technology provider, today announced results for fiscal third quarter ended March 31, 2025.

Operating Results

Revenue, operating expenses, operating income, and net income for the three and nine months ended March 31, 2025, compared to the three and nine months ended March 31, 2024, were as follows:

Services and support revenue increased for the three months ended March 31, 2025, primarily driven by growth in data processing and hosting revenue within cloud of 12.0% and higher deconversion revenue by $8,801, partially offset by the decrease in license and hardware revenues of 35.0%. Processing revenue increased for the three months ended March 31, 2025, primarily driven by growth in card revenue of 8.1%, transaction and digital revenue of 14.6%, and payment processing revenue of 10.4%.Services and support revenue increased for the nine months ended March 31, 2025, primarily driven by growth in data processing and hosting revenue within cloud of 12.1% and higher deconversion revenue by $3,549, partially offset by a decrease in license and hardware revenues of 30.7%. Processing revenue increased for the nine months ended March 31, 2025, primarily driven by growth in card revenue of 6.6% and transaction and digital revenue of 11.9%. Another driver was an increase in payment processing revenues.For the three months ended March 31, 2025, core segment revenue increased 8.4%, payments segment revenue increased 7.7%, complementary segment revenue increased 12.2%, and corporate and other segment revenue decreased 6.2%. For the three months ended March 31, 2025, core segment non-GAAP adjusted revenue increased 6.4%, payments segment non-GAAP adjusted revenue increased 7.0%, complementary segment non-GAAP adjusted revenue increased 9.6%, and corporate and other non-GAAP adjusted segment revenue decreased 6.6% (see revenue lines of segment break-out tables on pages 5 and 6 below for a reconciliation of segment non-GAAP adjusted revenue to GAAP segment revenue).For the nine months ended March 31, 2025, core segment revenue increased 5.9%, payments segment revenue increased 6.5%, complementary segment revenue increased 8.0%, and corporate and other segment revenue decreased 3.9%. For the nine months ended March 31, 2025, core segment non-GAAP adjusted revenue increased 5.8%, payments segment non-GAAP adjusted revenue increased 6.4%, complementary segment non-GAAP adjusted revenue increased 7.7%, and corporate and other non-GAAP adjusted segment revenue decreased 3.9% (see revenue lines of segment break-out tables on pages 7 and 8 below for a reconciliation of segment non-GAAP adjusted revenue to GAAP segment revenue).

Cost of revenue increased for the three months ended March 31, 2025, primarily due to higher direct costs generally consistent with increases in the related lines of revenue and increased internal licenses and fees, partially offset by a rise in labor cost deferral. Cost of revenue increased for the nine months ended March 31, 2025, primarily due to higher direct costs generally consistent with increases in the related lines of revenue, compensation increases in the trailing twelve months, higher internal licenses and fees from increased deployments and prices, a rise in amortization from capital development projects placed into service in the trailing twelve months, and increased cloud consumption fees, partially offset by a decrease in license and hardware costs consistent with the decrease in related lines of revenue and a rise in labor cost deferral.Research and development expense increased for the three and nine months ended March 31, 2025, primarily due to higher personnel costs (net of capitalization) from compensation increases and employee headcount additions in the trailing twelve months. For the nine months ended March 31, 2025, increased internal licenses and fees was also a contributor.Selling, general, and administrative expense increased for the three months ended March 31, 2025, primarily due to higher personnel costs from compensation increases related to a rise in employee headcount in the trailing twelve months. Selling, general, and administrative expense decreased for the nine months ended March 31, 2025, primarily due to the decrease in non-recurring personnel costs when compared to the prior fiscal year period, partially offset by an increase in recurring personnel costs from higher commissions expense and compensation increases related to a rise in employee headcount in the trailing twelve months .

Net Income

Effective tax rates for the three months ended March 31, 2025, and 2024, were 21.7% and 23.7%, respectively. Effective tax rates for the nine months ended March 31, 2025, and 2024, were 23.0% and 23.6%, respectively.

Impact of Non-GAAP Adjustments

The tables below show our revenue, operating income, and net income for the three and nine months ended March 31, 2025, compared to the three and nine months ended March 31, 2024, excluding the impacts of deconversions and the VEDIP program expense.*

The tables below show the segment break-out of revenue and cost of revenue for each period presented, as adjusted for the items above, and include a reconciliation to non-GAAP adjusted operating income presented above.

The table below shows our GAAP to non-GAAP guidance for the fiscal year ending June 30, 2025. Fiscal year 2025 non-GAAP guidance excludes the impacts of deconversion revenue and related operating expenses and assumes no acquisitions or dispositions are made during the fiscal year.

Balance Sheet and Cash Flow Review

Cash and cash equivalents were $40 million at March 31, 2025, and $27 million at March 31, 2024.Trade receivables were $282 million at March 31, 2025, compared to $263 million at March 31, 2024.The Company had $170 million of borrowings at March 31, 2025 compared to $250 million of borrowings at March 31, 2024.Deferred revenue was $222 million at March 31, 2025, and $214 million at March 31, 2024.Stockholders’ equity increased to $2,036 million at March 31, 2025, compared to $1,780 million at March 31, 2024.

The following table summarizes net cash from operating activities:

The following table summarizes net cash from investing activities:

The following table summarizes net cash from financing activities:

Use of Non-GAAP Financial Information

Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting in the United States. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, we have provided certain non-GAAP financial measures, including adjusted revenue, adjusted operating income, adjusted segment income, adjusted cost of revenue, adjusted operating expenses, adjusted operating margin, adjusted segment income margin, non-GAAP earnings before interest, taxes, depreciation, and amortization (non-GAAP EBITDA), free cash flow, return on invested capital (ROIC), non-GAAP adjusted net income, and non-GAAP earnings per share (EPS).

We believe non-GAAP financial measures help investors better understand the underlying fundamentals and true operations of our business. Adjusted revenue, adjusted operating income, adjusted operating margin, adjusted  segment income, adjusted segment income margin, adjusted cost of revenue, adjusted operating expenses, adjusted net income, and non-GAAP EPS eliminate one-time deconversion revenue and associated costs and the effects of the VEDIP program expense related to a Company voluntary separation program offered to certain eligible employees beginning in July 2023, which management believes are not indicative of the Company’s operating performance. Such adjustments give investors further insight into our performance. Non-GAAP EBITDA is defined as net income attributable to the Company before the effect of interest expense, taxes, depreciation, and amortization, adjusted for net income before the effect of interest expense, taxes, depreciation, and amortization attributable to eliminated one-time deconversions and the VEDIP program expense. Free cash flow is defined as net cash from operating activities, less capitalized expenditures, internal use software, and capitalized software, plus proceeds from the sale of assets. ROIC is defined as net income divided by average invested capital, which is the average of beginning and ending long-term debt and stockholders’ equity for a given period. Management believes that non-GAAP EBITDA is an important measure of the Company’s overall operating performance and excludes certain costs and other transactions that management deems one time or non-operational in nature; free cash flow is useful to measure the funds generated in a given period that are available for debt service requirements and strategic capital decisions; and ROIC is a measure of the Company’s allocation efficiency and effectiveness of its invested capital. For these reasons, management also uses these non-GAAP financial measures in its assessment and management of the Company’s performance.

Non-GAAP financial measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies. Non-GAAP financial measures have no standardized meaning prescribed by GAAP and therefore, are unlikely to be comparable with calculations of similar measures for other companies.

Any non-GAAP financial measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP measures. Reconciliations of the non-GAAP financial measures to related GAAP measures are included.

Quarterly Conference Call

The Company will hold a conference call on May 7, 2025, at 7:45 a.m. Central Time, and investors are invited to listen at www.jackhenry.com. A webcast replay will be available approximately one hour after the event at ir.jackhenry.com/corporate-events-and-presentations and will remain available for one year.

About Jack Henry & Associates, Inc.®

Jack HenryTM (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity — offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com. 

Statements made in this news release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, those discussed in the Company’s Securities and Exchange Commission filings, including the Company’s most recent reports on Form 10-K and Form 10-Q, particularly under the heading Risk Factors. Any forward-looking statement made in this news release speaks only as of the date of the news release, and the Company expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether because of new information, future events or otherwise.

FAQ for Analysts / Investors

1. What caused the slowing of non-GAAP revenue growth in the 3rd quarter?

Hardware revenue was down $4 million from the prior year quarter. Revenue growth would have been 7.8% overall had hardware revenue remained consistent.Growth in our key areas of revenue (Cloud and Processing revenue) grew at 9.8%, compared to 8.8% a year ago.

2. What are the key factors lowering annual non-GAAP revenue guidance?

The outlook for hardware revenue is down as we are seeing customers delay large capital purchases, possibly due to economic uncertainty.Similar to hardware, we are seeing customers delaying the start of signed non-recurring projects and the implementation of post-core products.Given the recent decline in consumer sentiment, there is risk that we could see lower transaction volumes in the coming months.

3. What caused Core segment revenue growth for the 3rd quarter to lag behind Payments and Complementary?

License and credit union hardware revenue was a drag on Core revenue growth in the 3rd quarter.However, growth in our key areas of revenue, like Cloud, outperformed the prior year’s quarter.

4. What is driving the growth in operating margins?

Growth in the key areas of our business has added new high incremental margin revenue, and we have been disciplined in our approach to compensation, headcount and infrastructure costs throughout the fiscal year.

5. What is the M&A outlook for Jack Henry financial institutions?

We have seen an acceleration of merger activity, including acquisitions of financial institutions by Jack Henry customers.

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SOURCE Jack Henry & Associates, Inc.

Comprehensive Security Controls Validate Craftable’s Dedication to Customer Data Protection.

DALLAS, May 6, 2025 /PRNewswire/ — Craftable, a pioneer in hospitality procurement and operations management, today announced the successful completion of its SOC 2 Type II audit, underscoring the company’s unwavering commitment to security, data protection, and transparency for its customers.

The audit was conducted by Advantage Partners, a leading compliance assessor known for helping organizations mitigate cybersecurity risks through independent validation.

“Information security is critical to our customers across hospitality,” said Samuel Zats, Co-Founder and CEO at Craftable. “By undergoing a rigorous, independent SOC 2 Type II audit, we’re not just meeting industry standards—we’re proving our dedication to safeguarding customer data. As part of this effort, we’re proud to launch our new Trust Center, which provides real-time visibility into our security practices and controls.”

Craftable’s Trust Center will serve as a centralized hub for customers and stakeholders to access compliance documentation, security policies, and audit summaries. It reflects Craftable’s larger initiative to increase transparency and operational excellence across its platform.

Comprehensive Security Infrastructure

Craftable’s commitment to security is evident through a series of strategic safeguards and protocols:

AWS Cloud Infrastructure: Craftable’s platform runs on Amazon Web Services (AWS), offering enterprise-grade security and reliability.

Separate Environment Architecture: Isolated production and test environments reduce risk and ensure system integrity.

Continuous Vulnerability Monitoring: Ongoing threat assessments via AWS and Vanta help detect and mitigate risks before they impact users.

Robust Data Protection: Automated backups with point-in-time recovery for up to 35 days, protected using AES256 encryption.

Encrypted Data Transmission: TLS 1.2+ ensures secure communication for all data in transit.

Single Sign-On (SSO): Integration with multiple SSO providers, including Google, enhances access security and usability.

Craftable’s investment in security, transparency, and compliance is a key pillar of its promise to serve the hospitality industry with integrity and trust.

About Craftable

Craftable is the leading cloud-based hospitality management solution for hotels, restaurants, resorts, bars, and casinos. Designed to streamline processes and drive maximum profitability, Craftable seamlessly connects purchasing, finance, and operations through AI-powered automation and integrated systems, delivering real-time insights for better decision making.

Founded in 2015 and headquartered in Dallas, Craftable has over 60 live POS integrations, 5,000 supplier connections, and serves more than 80,000 operators. The platform processes billions in annual transaction volume while helping customers save over $2 billion annually. Craftable partners with prominent hospitality leaders including Pyramid Global Hospitality, José Andrés Group, Marriott International, The Dinex Group, and Sage Hospitality. Discover how Craftable is transforming hospitality management at craftable.com.

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SOURCE Craftable