Technology

Cheetah Mobile Announces Second Quarter 2024 Unaudited Consolidated Financial Results

Published

4 months ago

September 13, 2024

BEIJING, Sept. 13, 2024 /PRNewswire/ — Cheetah Mobile Inc. (NYSE: CMCM) (“Cheetah Mobile” or the “Company”), a China-based IT company, today announced its unaudited consolidated financial results for the second quarter ended June 30, 2024.

Management Commentary

Mr. Sheng Fu, Cheetah Mobile’s Chairman and Chief Executive Officer, remarked, “In Q2, Cheetah Mobile achieved solid revenue growth of 12.3% year-over-year, with AI and others contributing around 40% of total revenue. Our service robotics business, both domestically and internationally, continues to drive growth. Customers choose us for our superior product experience, after-sales services, and strong AI capabilities, including far field speech recognition. With a team that brings extensive experience from the PC and mobile eras, we are investing in developing the best products to capture opportunities in the service robotics and LLMs markets. We remain focused on expanding our robotics use cases, advancing product innovation with LLMs, and growing our global presence. Rather than pursuing short-term gains, we are committed to achieving high-quality, long-term growth. We are confident in our ability to capture long-term opportunities ahead.”

Mr. Thomas Ren, Chief Financial Officer of Cheetah Mobile, stated, “In this quarter, we were able to reduce our operating loss compared to the previous quarter by strategically focusing on AI and service robots. Our operating margin, excluding share-based compensation expense for our legacy internet business, increased by 6.9 percentage points year over year and 4.5 percentage points quarter over quarter. Although Cheetah Mobile is still incurring losses, we generated more than RMB218 million in cash from operating activities in the second quarter, showcasing strong capabilities in cash generation and management. Moving forward, we are committed to continuing to enhance our operational efficiency and cash generation capabilities.”

Second Quarter 2024 Financial Highlight

Total revenues accelerated to a year-over-year growth of 12.3%, reaching RMB187.4 million (US$25.8 million) in the second quarter of 2024, driven by an increase in the delivery of the Company’s service robots in both domestic and international markets.

Revenues from internet business remained relatively flat year over year at RMB113.7 million (US$15.7 million) in the second quarter of 2024. In the second quarter of 2024, revenues generated from the internet business accounted for 60.7% of total revenues, compared to 69.1% in the same period last year.Revenues from AI and others increased by 42.8% year over year to RMB73.7 million (US$10.1 million) in the second quarter of 2024. The growth was primarily driven by an increase in the delivery of the Company’s service robots, following the acquisition of a controlling stake in Beijing OrionStar. In the second quarter of 2024, revenues generated from AI and others accounted for 39.3% of total revenues, compared to 30.9% in the same period last year.

Operating loss was RMB77.5 million (US$10.7 million) in the second quarter of 2024, compared to RMB65.6 million in the same period of last year. Non-GAAP operating loss was RMB62.5 million (US$8.6 million) in the second quarter of 2024, compared to RMB48.3 million in the same period of last year.

The increase in operating losses on a year-over-year basis was due to the Company’s investments in AI, which have helped it enhance the product experience of its service robots. As previously mentioned in the past earnings releases, Cheetah Mobile’s year-over-year costs and expenses increased, particularly associated with headcount and hardware.

Cost of revenues increased by 15.2% year over year to RMB65.9 million (US$9.1 million) in the second quarter of 2024, primarily resulting from the rise in the hardware-related costs for the Company’s service robots. Non-GAAP cost of revenues increased by 14.8% year over year to RMB65.5 million (US$9.0 million) in the second quarter of 2024.Research and development expenses increased by 14.5% year over year to RMB54.3 million (US$7.5 million) in the second quarter of 2024, primarily due to 1) amortization of intangible assets resulting from the acquisition of a controlling stake in Beijing OrionStar, 2) higher R&D personnel-related expenses following the acquisition of Beijing OrionStar. Non-GAAP research and development expenses increased by 3.3% year over year to RMB48.0 million (US$6.6 million) in the second quarter of 2024.Selling and marketing expenses increased by 17.3% year over year to RMB73.4 million (US$10.1 million) in the second quarter of 2024, primarily due to 1) increased marketing and promotion expenses related to our user acquisition for certain products of our internet business; and 2) increased personnel-related expenses as the Company increased its sales personnel following the acquisition of a controlling stake in Beijing OrionStar. Non-GAAP selling and marketing expenses increased by 16.7% year over year to RMB72.8 million (US$10.0 million) in the second quarter of 2024.General and administrative expenses increased by 8.0% year over year to RMB71.6 million (US$9.9 million) in the second quarter of 2024, primarily due to increased personnel-related expenses as the Company increased the number of its G&A personnel following the acquisition of a controlling stake in Beijing OrionStar. Non-GAAP general and administrative expenses increased by 26.9% year over year to RMB63.8 million (US$8.8 million) in the second quarter of 2024.

In terms of sequential performance, the Company was able to reduce its operating loss from RMB80.6 million in the first quarter of 2024 to RMB77.5 million in this quarter, and its non-GAAP operating loss from RMB66.4 million in the first quarter of 2024 to RMB62.5 million in this quarter. Notably, operating margin, excluding share-based compensation expense for the internet business, was 12.4% in the second quarter of 2024, an improvement from 7.9% in the first quarter of 2024 and 5.5% in the same period of last year.

As of June 30, 2024, the Company had cash and cash equivalents and short-term investments of RMB1,973.0 million (US$271.5 million).

As of June 30, 2024, the Company has long-term investments of RMB866.9 million (US$119.3 million).

Conference Call Information

The Company will hold a conference call on September 13th, 2024, at 7:00 a.m. Eastern Time (or 7:00 p.m. Beijing Time) to discuss its financial results. Listeners may access the call by dialing the following numbers:

Main Line:
International: 1-412-317-6061
United States Toll Free: 1-888-317-6003
Mainland China Toll Free: 4001-206115
Hong Kong Toll Free: 800-963976
Conference ID: 3980144

English Translation:
International: 1-412-317-6061
United States Toll Free: 1-888-317-6003
Mainland China Toll Free: 4001-206115
Hong Kong Toll Free: 800-963976
Conference ID: 7908950

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

Exchange Rate

This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars in this press release were made at a rate of RMB7.2672 to US$1.00, the exchange rate in effect as of June 28, 2024, as set forth in the H.10 statistical release of the Federal Reserve Board. Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under accounting principles generally accepted in the United States of America (“U.S. GAAP”).

About Cheetah Mobile Inc.

Cheetah Mobile is a China-based IT company with a commitment to AI innovation. It has attracted hundreds of millions of users through an array of internet products and services on PCs and mobile devices. At the same time, it actively engages in the independent research and development of AI technologies, including LLM technologies. Cheetah Mobile provides advertising services to advertisers worldwide, value-added services including the sale of premium membership to its users, multi-cloud management platform to companies globally, as well as service robots to international clients. Cheetah Mobile is also committed to leveraging its cutting-edge AI technologies, including LLM technologies, to empower its products and make the world smarter. It has been listed on the New York Stock Exchange since May 2014.

Safe Harbor Statement

This press release contains forward-looking statements. These statements, including management quotes and business outlook, constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Such statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in the forward-looking statements, including but are not limited to the following: Cheetah Mobile’s growth strategies; Cheetah Mobile’s ability to retain and increase its user base and expand its product and service offerings; Cheetah Mobile’s ability to monetize its platform; Cheetah Mobile’s future business development, financial condition and results of operations; competition with companies in a number of industries including internet companies that provide online marketing services and internet value-added services; expected changes in Cheetah Mobile’s revenues and certain cost or expense items; and general economic and business condition globally and in China. Further information regarding these and other risks is included in Cheetah Mobile’s filings with the U.S. Securities and Exchange Commission. Cheetah Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Use of Non-GAAP Financial Measures

This release contains non-GAAP financial measures, including but not limited to:

Non-GAAP cost of revenues excludes share-based compensation expenses;Non-GAAP gross profit excludes share-based compensation expenses;Non-GAAP gross margin excludes share-based compensation expenses;Total non-GAAP operating expenses exclude share-based compensation expenses and amortization of intangible assets resulting from business acquisitions;Non-GAAP research and development expenses exclude share-based compensation expenses and amortization of intangible assets resulting from business acquisitions;Non-GAAP selling and marketing expenses exclude share-based compensation expenses and amortization of intangible assets resulting from business acquisitions;Non-GAAP general and administrative expenses exclude share-based compensation expenses;Non-GAAP operating profit/loss excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions;Non-GAAP net income/loss attributable to Cheetah Mobile shareholders excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions;Non-GAAP diluted earnings/losses per ADS excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions; andNon-GAAP adjusted EBITDA represents net income/loss attributable to Cheetah Mobile shareholders excluding share-based compensation, interest income, depreciation and amortization, net income attributable to noncontrolling interests, other income, net and income tax expenses.

The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measures for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures are useful supplemental information for investors and analysts to assess its operating performance without the effect of share-based compensation expenses and amortization of intangible assets resulting from business acquisitions, which have been and will continue to be significant recurring expenses in its business. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the tables captioned “Cheetah Mobile Inc. Reconciliation of GAAP and Non-GAAP Results”.

Investor Relations Contact

Helen Jing Zhu
Cheetah Mobile Inc.
Tel: +86 10 6292 7779
Email: ir@cmcm.com

CHEETAH MOBILE INC.

Condensed Consolidated Balance Sheets

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

As of

December 31, 2023

June 30, 2024

RMB

USD

ASSETS

Current assets:

Cash and cash equivalents

2,020,191

1,972,676

271,449

Short-term investments

1,023

331

Accounts receivable, net

401,064

445,091

61,247

Prepayments and other current assets, net

973,127

1,334,395

183,619

Due from related parties, net

71,505

110,234

15,169

Total current assets

3,466,910

3,862,727

531,530

Non-current assets:

Property and equipment, net

53,884

54,962

7,563

Operating lease right-of-use assets

30,451

31,337

4,312

Intangible assets, net

218,559

204,476

28,137

Goodwill

576,989

79,396

Long-term investments

937,460

866,860

119,284

Due from related parties, net

–

25,287

3,480

Deferred tax assets

188,503

194,226

26,726

Other non-current assets

160,428

80,819

11,121

Total non-current assets

2,166,274

2,034,956

280,019

Total assets

5,633,184

5,897,683

811,549

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY

Current liabilities:

Bank loans

5,000

–

Accounts payable

170,185

159,787

21,987

Accrued expenses and other current liabilities

2,437,210

2,811,054

386,814

Due to related parties

84,147

83,311

11,464

Income tax payable

31,603

33,351

4,589

Total current liabilities

2,728,145

3,087,503

424,854

Non-current liabilities:

Deferred tax liabilities

54,540

51,870

7,138

Other non-current liabilities

189,943

182,178

25,069

Total non-current liabilities

244,483

234,048

32,207

Total liabilities

2,972,628

3,321,551

457,061

Mezzanine equity:

Redeemable noncontrolling interests

105,978

185,676

25,550

Shareholders’ equity:

Ordinary shares

244

246

Additional paid-in capital

2,711,875

2,716,472

373,799

Accumulated deficit

(613,102)

(816,978)

(112,420)

Accumulated other comprehensive income

356,854

381,288

52,467

Total Cheetah Mobile shareholders’ equity

2,455,871

2,281,028

313,880

Noncontrolling interests

98,707

109,428

15,058

Total shareholders’ equity

2,554,578

2,390,456

328,938

Total liabilities, mezzanine equity and shareholders’ equity

5,633,184

5,897,683

811,549

CHEETAH MOBILE INC.

Condensed Consolidated Statements of Comprehensive Income (Loss)

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share(or ADS) data)

For The Three Months Ended

For The Six Months Ended

June 30, 2023

June 30, 2024

June 30, 2023

June 30, 2024

RMB

USD

RMB

USD

Revenues

166,951

187,417

25,790

337,385

377,705

51,974

Internet business

115,336

113,729

15,650

235,645

222,749

30,651

AI and others

51,615

73,688

10,140

101,740

154,956

21,323

Cost of revenues (a)

(57,186)

(65,895)

(9,067)

(113,349)

(135,651)

(18,666)

Gross profit

109,765

121,522

16,723

224,036

242,054

33,308

Operating income and expenses:

Research and development (a)

(47,426)

(54,285)

(7,470)

(92,854)

(111,616)

(15,359)

Selling and marketing (a)

(62,561)

(73,396)

(10,100)

(130,827)

(148,532)

(20,439)

General and administrative (a)

(66,333)

(71,610)

(9,854)

(110,459)

(140,755)

(19,369)

Other operating income, net

944

228

2,215

736

101

Total operating income and expenses

(175,376)

(199,063)

(27,393)

(331,925)

(400,167)

(55,066)

Operating loss

(65,611)

(77,541)

(10,670)

(107,889)

(158,113)

(21,758)

Other income/(expenses):

Interest income, net

14,896

9,773

1,345

27,238

25,089

3,452

Foreign exchange losses

(48,684)

(7,564)

(1,041)

(34,221)

(10,841)

(1,492)

Other expense, net

(152,351)

(51,612)

(7,102)

(154,152)

(59,207)

(8,147)

Loss before taxes

(251,750)

(126,944)

(17,468)

(269,024)

(203,072)

(27,945)

Income tax (expenses)/ benefits

(3,583)

6,391

879

(3,761)

6,193

852

Net loss

(255,333)

(120,553)

(16,589)

(272,785)

(196,879)

(27,093)

Less: net income attributable to noncontrolling interests

3,461

3,288

452

4,608

6,997

963

Net loss attributable to Cheetah Mobile shareholders

(258,794)

(123,841)

(17,041)

(277,393)

(203,876)

(28,056)

Net loss per share

Basic

(0.1772)

(0.0841)

(0.0116)

(0.1925)

(0.1390)

(0.0191)

Diluted

(0.1774)

(0.0841)

(0.0116)

(0.1933)

(0.1391)

(0.0191)

Net loss per ADS

Basic

(8.8615)

(4.2042)

(0.5785)

(9.6239)

(6.9488)

(0.9562)

Diluted

(8.8693)

(4.2067)

(0.5789)

(9.6665)

(6.9542)

(0.9569)

Weighted average number of shares outstanding

Basic

1,454,090,428

1,495,962,672

1,452,066,835

1,495,088,007

Diluted

1,454,090,428

1,495,962,672

1,452,066,835

1,495,088,007

Weighted average number of ADSs outstanding

Basic

29,081,809

29,919,253

29,041,337

29,901,760

Diluted

29,081,809

29,919,253

29,041,337

29,901,760

Other comprehensive income/(loss) , net of tax of nil

Foreign currency translation adjustments

148,160

8,383

1,154

108,142

29,414

4,048

Unrealized losses on available-for-sale securities, net

(43,494)

(9,206)

(1,267)

(43,494)

(7,434)

(1,023)

Other comprehensive income/(loss)

104,666

(823)

(113)

64,648

21,980

3,025

Total comprehensive loss

(150,667)

(121,376)

(16,702)

(208,137)

(174,899)

(24,068)

Less: Total comprehensive income attributable to
noncontrolling interests

2,964

2,118

291

3,877

4,544

625

Total comprehensive loss attributable to Cheetah
Mobile shareholders

(153,631)

(123,494)

(16,993)

(212,014)

(179,443)

(24,693)

For The Three Months Ended

For The Six Months Ended

June 30, 2023

June 30, 2024

June 30, 2023

June 30, 2024

(a) Share-based compensation expenses

RMB

USD

RMB

USD

Cost of revenues

107

357

226

449

Research and development

958

116

870

408

Selling and marketing

195

154

391

110

General and administrative

16,091

7,831

1,078

16,643

15,076

2,075

Total

17,351

8,458

1,164

18,130

16,043

2,208

CHEETAH MOBILE INC.

Reconciliation of GAAP and Non-GAAP Results

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for per share data )

For The Three Months Ended June 30, 2024

For The Six Months Ended June 30, 2024

GAAP

Share-based

Amortization of

Non-GAAP

GAAP

Share-based

Amortization of

Non-GAAP

Result

Compensation

intangible assets*

Result

Compensation

intangible assets*

Result

RMB

USD

RMB

USD

Revenues

187,417

–

187,417

25,790

377,705

–

377,705

51,974

Cost of revenues

(65,895)

357

–

(65,538)

(9,018)

(135,651)

449

–

(135,202)

(18,604)

Gross profit

121,522

357

–

121,879

16,772

242,054

449

–

242,503

33,370

Research and development

(54,285)

116

6,156

(48,013)

(6,607)

(111,616)

408

12,312

(98,896)

(13,609)

Selling and marketing

(73,396)

154

469

(72,773)

(10,014)

(148,532)

110

938

(147,484)

(20,294)

General and administrative

(71,610)

7,831

–

(63,779)

(8,776)

(140,755)

15,076

–

(125,679)

(17,294)

Other operating income, net

228

–

228

736

–

736

101

Total operating income and expenses

(199,063)

8,101

6,625

(184,337)

(25,366)

(400,167)

15,594

13,250

(371,323)

(51,096)

Operating loss

(77,541)

8,458

6,625

(62,458)

(8,594)

(158,113)

16,043

13,250

(128,820)

(17,726)

Net loss attributable to Cheetah Mobile shareholders

(123,841)

8,458

6,625

(108,758)

(14,965)

(203,876)

16,043

13,250

(174,583)

(24,024)

Diluted losses per ordinary share (RMB)

(0.0841)

0.0057

0.0043

(0.0741)

(0.1391)

0.0107

0.0089

(0.1195)

Diluted losses per ADS (RMB)

(4.2067)

0.2850

0.2167

(3.7050)

(6.9542)

0.5350

0.4442

(5.9750)

Diluted losses per ADS (USD)

(0.5789)

0.0392

0.0299

(0.5098)

(0.9569)

0.0736

0.0611

(0.8222)

For The Three Months Ended June 30, 2023

For The Six Months Ended June 30, 2023

GAAP

Share-based

Non-GAAP

GAAP

Share-based

Non-GAAP

Result

Compensation

Result

Compensation

Result

RMB

Revenues

166,951

–

166,951

337,385

–

337,385

Cost of revenues

(57,186)

107

(57,079)

(113,349)

226

(113,123)

Gross profit

109,765

107

109,872

224,036

226

224,262

Research and development

(47,426)

958

(46,468)

(92,854)

870

(91,984)

Selling and marketing

(62,561)

195

(62,366)

(130,827)

391

(130,436)

General and administrative

(66,333)

16,091

(50,242)

(110,459)

16,643

(93,816)

Other operating income, net

944

–

944

2,215

–

2,215

Total operating income and expenses

(175,376)

17,244

(158,132)

(331,925)

17,904

(314,021)

Operating loss

(65,611)

17,351

(48,260)

(107,889)

18,130

(89,759)

Net loss attributable to Cheetah Mobile shareholders

(258,794)

17,351

(241,443)

(277,393)

18,130

(259,263)

Diluted losses per ordinary share (RMB)

(0.1774)

0.0119

(0.1655)

(0.1933)

0.0125

(0.1808)

Diluted losses per ADS (RMB)

(8.8693)

0.5943

(8.2750)

(9.6665)

0.6243

(9.0422)

* This represents amortization of intangible assets resulting from business acquisitions.

CHEETAH MOBILE INC.

Information about Segment

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for percentage)

For The Three Months Ended June 30, 2024

For The Six Months Ended June 30, 2024

Internet Business

AI and others

Unallocated*

Consolidated

Internet Business

AI and others

Unallocated*

Consolidated

RMB

USD

RMB

USD

Revenue

113,729

73,688

–

187,417

25,790

222,749

154,956

–

377,705

51,974

Operating profit/(loss)

14,159

(83,242)

(8,458)

(77,541)

(10,670)

22,821

(164,891)

(16,043)

(158,113)

(21,758)

Operating margin

12.4 %

(113.0) %

–

(41.4) %

10.2 %

(106.4) %

–

(41.9) %

For The Three Months Ended June 30, 2023

For The Six Months Ended June 30, 2023

Internet Business

AI and others

Unallocated*

Consolidated

Internet Business

AI and others

Unallocated*

Consolidated

RMB

Revenue

115,336

51,615

–

166,951

235,645

101,740

–

337,385

Operating profit/(loss)

6,370

(54,630)

(17,351)

(65,611)

10,125

(99,884)

(18,130)

(107,889)

Operating margin

5.5 %

(105.8) %

–

(39.3) %

4.3 %

(98.2) %

–

(32.0) %

*Unallocated expenses refer to SBC expenses that are not allocated to individual segments.

CHEETAH MOBILE INC.

Reconciliation from Net Income Attributable to Cheetah Mobile Shareholders to Adjusted EBITDA (Non-GAAP)

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

For The Three Months Ended

For The Six Months Ended

June 30, 2023

June 30, 2024

June 30, 2023

June 30, 2024

RMB

USD

RMB

USD

Net loss attributable to Cheetah Mobile shareholders

(258,794)

(123,841)

(17,041)

(277,393)

(203,876)

(28,056)

Add:

Income tax expenses/ (benefits)

3,583

(6,391)

(879)

3,761

(6,193)

(852)

Interest income, net

(14,896)

(9,773)

(1,345)

(27,238)

(25,089)

(3,452)

Depreciation and amortization

8,273

12,317

1,695

17,106

24,629

3,389

Net income attributable to noncontrolling interests

3,461

3,288

452

4,608

6,997

963

Other expense, net

201,035

59,176

8,143

188,373

70,048

9,639

Share-based compensation

17,351

8,458

1,164

18,130

16,043

2,208

Adjusted EBITDA

(39,987)

(56,766)

(7,811)

(72,653)

(117,441)

(16,161)

View original content:https://www.prnewswire.com/news-releases/cheetah-mobile-announces-second-quarter-2024-unaudited-consolidated-financial-results-302247571.html

SOURCE Cheetah Mobile

Technology

CES 2025: The Global Stage for Innovation, Connecting the World, Creating the Future

Published

3 hours ago

January 11, 2025

Where Technology Meets Humanity to Create Extraordinary Possibilities

LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — CES® 2025, the most powerful tech event in the world, welcomed over 141,000 attendees from around the globe. With more than 4500 exhibitors, including 1400 startups, and more than 6000 media attendees, CES highlights the innovation and technology trends addressing global challenges and shaping the future.

“CES is where innovation comes to life,” said Gary Shapiro, CEO and Vice Chair, Consumer Technology Association (CTA)®, owner and producer of CES. “From the largest companies to trailblazing startups, the entire tech ecosystem is at the show. CES is the stage for groundbreaking product launches, transformative partnerships, and serendipitous business moments that define the future of technology.”

CES 2025 by the Numbers*

4500+ exhibitors, including 1400 startups141,000+ attendees, of which 40% were international from over 150 countries, regions, and territories6000+ global media, content creators, and industry analystsOver 60% of Fortune 500 companies300+ conference sessions with 1200+ speakers27,000+ news stories and content

*pre-audit figures

“From groundbreaking innovations that improve lives to transformative ideas that redefine industries, CES is a celebration of the art of the possible, showcasing how technology enriches our world and inspires a brighter future for all,” said Kinsey Fabrizio, President, CTA. “The evolution of CES has surged at this year’s show, where creativity, connectivity, and innovation inspire with visionary keynotes, thought-provoking conference sessions, and mind-blowing exhibits.”

As one of the most transparent trade shows, CES adheres to rigorous auditing standards established by UFI, The Global Association of the Exhibition Industry. To maintain the integrity of its reports, CES engages independent auditors, fostering trust among stakeholders.

“CES reaffirms its status as the largest audited annual business event,” said Fabrizio. “We look forward to releasing third-party confirmation in the spring, because at CTA we believe auditing is not just a nice-to-have, but the gold standard for global business events.”

Catch all the highlights and announcements from CES 2025 – including all conference programming—via CES YouTube and the CES Tech Talk Podcast. Watch the CES 2025 State of the Industry Address here.

CES 2025 Highlights

Artificial Intelligence – CES 2025 connected the dots between humanity and AI through powerful exhibits and programming. From AI-driven productivity tools to breakthroughs in medical advancements, products and services on the show floor demonstrated that artificial intelligence is not just a technology trend but a transformative force improving lives worldwide.
Exhibitors included: AMD, Hisense, LG, NVIDIA, Qualcomm, Samsung, Siemens, TCL

Digital Health – This year, CES 2025 saw tremendous energy at the Venetian where attendees witnessed the category’s seamless alignment with the smart living experience. CES has cemented itself as a premier convenor for the healthcare industry, bringing together trailblazers to explore biotechnology, telehealth, and wellness advancements that enhance patient care and longevity. Attendees celebrated the vibrant and dynamic environment that underscored how technology is transforming everyday life, particularly in health and wellness.
Exhibitors & Sponsors included: AARP, Abbott, Eyebot, FlowBeams, Lumia Health, OnMed, Panasonic, ResMed, Withings

Energy Transition – With the growth of high-power demand technologies like AI, cloud, and other data center innovations, the energy transition to zero carbon sources was a significant focus at CES 2025. Experimental energy solutions including battery and energy storage technologies, emerging energy sources like green hydrogen, and small modular nuclear reactors were highlights on the show floor.
Exhibitors included: Eaton, Jackery, Otrera, SK, Sony Honda Mobility

Mobility – Mobility innovation spanned construction, agriculture, marine tech, and advanced air travel. At CES 2025, self-driving and electric technologies enhanced planes and boats, and EV market growth brought new models from global OEMs to the show. Automation in construction and industry enhanced safety and addressed workforce gaps in labor-intensive roles.
Exhibitors included: Aptera Motors, BMW, Bosch, Brunswick, Caterpillar, Daedong, Garmin, Honda, Invo Station, John Deere, Kubota, Mobileye, Oshkosh, Scout Motors, Sumitomo Rubber, Scout Motors, Suzuki, Waymo, Xpeng AeroHT, Zeekr

Quantum – CES 2025 featured the latest innovations in quantum technologies, offering a glimpse into the future. Quantum technology uses properties of quantum mechanics to enable three distinct disciplines: improved networking, computing, and sensing. Innovations at the show demonstrated how quantum computing, working alongside AI, will allow for breakthroughs in research and computing for finance, chemistry, materials, logistics, and more.
Exhibitors included: Integrated Quantum Photonic, IonQ, QSIMPLUS, Quandela, SK

Sustainability – Sustainability is a crucial trend shaping technology innovation, especially in the context of energy transition. CES featured key advancements including new battery technologies, alternative material development like graphene, and off-grid renewable energy solutions. The show also put a spotlight on innovations such as synthetic microbes, bioplastics, and self-healing concrete that will contribute to sustainable construction.
Exhibitors included: Hydrific, Lyten, Melliens, Panasonic

Startups – Eureka Park was completely full, with 1400 startups from 39 countries including country pavilions representing Africa, European Union (EU), France, Italy, Israel, Japan, Korea, Netherlands, Switzerland, and Ukraine. Eureka Park is where innovators, investors, and the media meet to highlight and get hands-on with the technologies that will shape our collective future in core areas including accessibility, AI, digital health, and sustainability.

Keynotes

NVIDIA
NVIDIA founder and CEO Jensen Huang on Monday drew 6300 attendees to unveil the GeForce RTX 50, surpassing the RTX 4090 in performance, and introduced Agentic AI, a real-time assistant to streamline consumer workflows. Huang also showcased the Cosmos World Foundation Model and generative AI tools to advance robotics navigation. Highlighting AI-driven innovation, Huang announced a partnership with Toyota to develop next-gen autonomous vehicles using the safety-certified NVIDIA DriveOS.

Panasonic Holdings Corporation
Panasonic Holdings Group CEO Yuki Kusumi shared Panasonic Group’s vision for sustainability, artificial intelligence, and the health of future generations. DJ and record producer Steve Aoki jump-started the keynote with a performance before Mr. Kusumi, joined on stage by Marvel actor Anthony Mackie and other Panasonic Group leaders, delivered Panasonic’s “Well Into the Future” message. As an extension of the current Panasonic Well portfolio, Panasonic announced Umi, a holistic digital family wellness platform and coach.

SiriusXM
Jennifer Witz, CEO, SiriusXM, joined Ashley Flowers, #1 female podcaster in the U.S. and host of the hit podcast Crime Junkie, on the C Space stage to deliver a keynote on the intersection of technology, creativity, and storytelling in audio. The conversation covered the importance of authenticity, how AI is changing the creative landscape, and adapting consumer interests.

X Corp.
Linda Yaccarino, CEO, X Corp., spoke with award-winning journalist Catherine Herridge about how the company is defining the future of digital communication. The conversation focused on X’s transformational work to create a “global newsroom in your pocket.” Yaccarino highlighted the significance of Meta’s announcement that the company will follow X’s lead in adopting a community notes approach to content moderation.

Delta Air Lines at Sphere
The first keynote at Sphere in CES history wowed over 8000 attendees! The immersive experience spotlighted Delta Air Lines’ innovations in seamless travel, onboard experiences, and the future of flight. Ed Bastian, CEO, Delta Air Lines, announced Delta Concierge and partnerships with Airbus, DraftKings, Joby, Uber, and YouTube. Special guests included actress Viola Davis, football legend Tom Brady, and GRAMMY-winning icon Lenny Kravitz.

Volvo Group
Martin Lundstedt, President and CEO, Volvo Group, emphasized the company’s commitment to building a safer, more sustainable, and more productive future. He called on policymakers and industry leaders to accelerate the transition to zero emission vehicles and discussed the company’s partnership with Aurora, aimed at advancing the development of safer, self-driving vehicles.

Accenture
Julie Sweet, Chair and CEO, Accenture, discussed how data, AI, and new ways of working are transforming industries and addressing global challenges with Julia Boorstin, CNBC senior media & tech correspondent. Sweet emphasized the need for businesses to build trust in AI technologies, especially as AI becomes increasingly autonomous in a society where trust is scarce. She also highlighted Accenture’s 25th annual Tech Vision, which explores the paths leaders can take when AI is ubiquitous.

Waymo
Tekedra Mawakana, co-CEO, Waymo, spoke with Bloomberg Technology’s Ed Ludlow on the company’s progress in developing its self-driving technology, Waymo Driver. Mawakana emphasized safety and expanding its autonomous ride-hailing service to new cities while showcasing advancements in technology and outlining a vision for a safer and more accessible future.

Conference Programming
CES 2025 offered more than 300 conference sessions, exploring how tech solves some of the world’s greatest challenges.

C Space – C Space at ARIA brought together thousands of senior-level marketing professionals to explore the intersection of technology, media, and branding. Attendees heard from leading industry innovators from brands like Reddit, NBCUniversal, and Microsoft Advertising about how technology is shaping the future of storytelling, consumer engagement, and brand strategy. C Space sessions emphasized the importance of creativity and authenticity in navigating the ever-evolving digital landscape.CES Creator Space – The first-ever CES Creator Space, presented by Sony, gathered storytellers to network, create content, and relax in between visiting exhibitors. Sessions led by industry experts helped creators elevate their craft, featuring discussions on storytelling, content monetization, brand partnerships, rights and ownership, and more.Digital Health Summit brought together the entire health ecosystem to learn, network, and explore the role technology plays in advancing and reforming medicine, healthcare, and consumer wellness.Great Minds series explored the intersection of technology and humanity. Speakers included C-Suite executives, philanthropists, influencers, government leaders, entrepreneurs, venture capitalists, and more.Innovation for All Track included dedicated programming focused on ensuring all voices are represented in technology and innovation, bringing together thought leaders for a series of engagement opportunities, dynamic session content, and networking events.Innovation Policy Summit advanced CTA’s Innovation Agenda. CES brought together policymakers and government guests from around the world to discuss domestic and global tech policy issues including AI, privacy, trade, competition, and more. Conference sessions featured high-level government speakers from the White House, Department of Commerce, Department of Homeland Security, Department of Transportation, Federal Communications Commission, Federal Maritime Commission, Federal Trade Commission, and more.Mobility Stage made its debut in West Hall, exploring the future of mobility tech on the CES show floor. Topics included AI, connected vehicles, software, supply chain, and more.Quantum Means Business, a multi-session conference track developed with Quantum World Congress, gathered some of the brightest quantum minds, showcasing breakthroughs that were once confined to science fiction. Industry leaders from IBM, Microsoft, and beyond shared insights into how quantum, paired with advancements in AI and machine learning, creates unparalleled opportunities across industries.Startup Stage in Eureka Park brought together visionaries to discuss AI, health, startup funding, and more.

Celebrities at CES
Celebrity brand ambassadors like Alexis Ohanian, Denim Richards, Karlie Kloss, Maria Shriver, Mark Cuban, Martha Stewart, Meghan Trainor, Sophia Bush, Stevie Wonder, Terry Crews, Tim Meadows, Tunde Oyeneyin, and will.i.am attended the show. Read more about CES 2025 celebrity guest participation here.

Visit CES or the CES App, sponsored by Panasonic, for keynotes, sessions, and product announcements. View the high-res image gallery and download B-roll. Check out news from this week with CTA press releases including CTA’s U.S. Consumer Technology One-Year Industry Forecast, CES 2025 Green Grants, CTA 2025 Global Innovation Scorecard, CES 2025 Open, and a new investment in Quantum Word Congress.

We’ll DIVE IN again as CES returns to Las Vegas January 6-9, 2026.

About CES®:
CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA) ®, CES features every aspect of the tech sector. CES 2025 takes place Jan. 7-10, 2025, in Las Vegas. Learn more at CES.tech and follow CES on social.

About Consumer Technology Association (CTA)®:
As North America’s largest technology trade association, CTA is the tech sector. Our members are the world’s leading innovators – from startups to global brands – helping support more than 18 million American jobs. CTA owns and produces CES® – the most powerful tech event in the world. Find us at CTA.tech. Follow us @CTAtech.

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SOURCE Consumer Technology Association

Technology

KNEX Technology CTO Gustavo Gonzalez Elected 2025 President-Elect of OATUG

Published

5 hours ago

January 11, 2025

Gustavo Gonzalez, KNEX Technology’s CTO, has been elected 2025 President-Elect of OATUG, emphasizing his dedication to Oracle innovation, collaboration, and leadership, including Ascend 2025’s strategic initiatives.

IRVINE, Calif., Jan. 10, 2025 /PRNewswire-PRWeb/ — KNEX Technology, a leading Oracle Cloud solutions provider, is proud to announce that its Chief Technology Officer, Gustavo Gonzalez, has been elected as the 2025 President-Elect of the Oracle Applications & Technology Users Group (OATUG). This esteemed appointment highlights Gonzalez’s longstanding commitment to advancing innovation and collaboration within the Oracle community.

OATUG has played a pivotal role in my professional growth, and it is a privilege to contribute to this community which has enriched my career. As President-Elect, I look forward to collaborating with my peers to strengthen the Oracle user community and further its impact on businesses worldwide.

In his new role, Gonzalez will work closely with the OATUG leadership team throughout 2025, preparing to serve as OATUG President in 2026. He will focus on empowering Oracle professionals worldwide by fostering knowledge-sharing, community engagement, and professional development. OATUG, a globally recognized organization, supports its members in overcoming challenges, enhancing the value of Oracle solutions, and driving organizational success.

“OATUG has played a pivotal role in my professional growth, and it is a privilege to contribute to this community which has enriched my career,” said Gustavo Gonzalez. “As President-Elect, I look forward to collaborating with my peers to strengthen the Oracle user community and further its impact on businesses worldwide.”

Gonzalez’s election underscores his dedication to giving back to the Oracle ecosystem. A key focus of his role will include shaping OATUG’s strategic initiatives, such as the annual Ascend Conference, which unites Oracle users, thought leaders, and technology innovators for unparalleled learning and networking opportunities.

The upcoming Ascend 2025 Conference, scheduled for June 8–11 in Orlando, Florida, promises to build on the success of the 2024 event, which attracted more than 1,800 attendees. With early bird registration now open, Gonzalez aims to ensure the conference continues to deliver transformative insights and experiences for the Oracle community.

About OATUG

The Oracle Applications & Technology Users Group (OATUG) is the premier global organization for Oracle users, providing year-round education, networking, and advocacy. OATUG empowers its members to unlock the full potential of Oracle solutions, fostering innovation and collaboration across industries.

About KNEX Technology

KNEX Technology is a trusted leader in Oracle Cloud solutions, delivering cutting-edge products and services to help businesses achieve their objectives. Through its innovative approach and customer-focused strategies, KNEX enables organizations to navigate the complexities of today’s technology landscape. For more information, visit www.knextech.com.

Media Contact

Husna Gyasi, KNEX Technology, 1 (949) 232-0786, husna.ghayaisi@knextech.com, https://knextech.com/

Twitter, LinkedIn

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SOURCE KNEX Technology

Technology

Dr. Gerard van Belle Appointed Director of Science at Lowell Observatory, Charting a Bold Future for Research

Published

6 hours ago

January 11, 2025

Dr. van Belle to guide scientific exploration and foster innovation in the next era of astronomical research

FLAGSTAFF, Ariz., Jan. 10, 2025 /PRNewswire/ — Lowell Observatory is pleased to announce the appointment of Dr. Gerard van Belle as the new Director of Science. Van Belle, who has been an astronomer at the observatory since 2011, has been serving as the interim Director of Science.

In his new role, van Belle will lead a diverse team of astronomers and planetary scientists. He will spearhead the observatory’s new Science Vision, which focuses on advancing research capabilities and implementing cutting-edge technological improvements supporting Lowell’s leadership in astronomical research.

Under his leadership, the science department will continue to advance Lowell Observatory’s mission to pursue the study of astronomy, including the study of our solar system and its evolution, and to conduct pure research in astrophysical phenomena.

Van Belle’s own research focuses on fundamental stellar parameters, including the sizes, shapes, masses, distances, and temperatures of various types of stars. He is also renowned for his expertise in optical and near-infrared astronomical interferometry.

He earned his bachelor’s degree in physics from Whitman College in 1990, followed by a master’s degree from The Johns Hopkins University in 1993, and a Ph.D. in physics from the University of Wyoming in 1996.

Throughout his career, van Belle has been instrumental in the development and commissioning of major optical interferometers worldwide, including the Palomar Testbed Interferometer, the Keck Interferometer, and the Very Large Telescope Interferometer. His pioneering work in stellar surface imaging earned him the inaugural Edward Stone Award for Outstanding Research Publication at NASA’s Jet Propulsion Laboratory in 2002.

In 2011, van Belle joined Lowell Observatory’s science staff, where he applied high-resolution astronomical techniques to detect nearby exoplanets and map stellar surfaces. He served as the Director of the Navy Precision Optical Interferometer (NPOI) in Flagstaff, Arizona, from 2017 to 2018, and subsequently as its Chief Scientist until 2022.

Notably, van Belle was among the astronomers who voted against the definition of ‘planet’ advanced during the 2006 International Astronomical Union (IAU) conference in Prague, which relegated Pluto to being a ‘dwarf planet’ (which according to the IAU resolution is not a planet).

His extensive experience and dedication to advancing astronomical research make him a valuable leader for Lowell Observatory’s scientific endeavors.

“I am honored to take on this role at such a pivotal time for Lowell Observatory,” said van Belle. “Our Science Vision will guide us in exploring new frontiers in astronomy while strengthening our commitment to public engagement and education.”

Executive Director Dr. Amanda Bosh expressed her confidence in van Belle’s leadership: “Gerard’s extensive experience and dedication to our mission make him the ideal person to lead our scientific endeavors. I look forward to working closely with him as we embark on this exciting new chapter for Lowell Observatory.”

For more information about Lowell Observatory’s research and public programs, visit lowell.edu.

About Lowell Observatory
Founded in 1894, Lowell Observatory in Flagstaff, Arizona, is a renowned nonprofit research institution. It is the site of historic and groundbreaking discoveries, including the first evidence of the expanding universe and the discovery of Pluto. Today, Lowell’s astronomers utilize global ground-based and space telescopes, along with NASA spacecraft, for diverse astronomical and planetary science research. The observatory hosts more than 100,000 visitors annually for educational tours, presentations, and telescope viewing through a suite of world-class public telescopes.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dr-gerard-van-belle-appointed-director-of-science-at-lowell-observatory-charting-a-bold-future-for-research-302348440.html

SOURCE Lowell Observatory