TECH BULLETIN

Thursday, July 23, 2026

Tech Market Context: Macro Drivers

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Today's Interesting Company News

Garmin Pilot Adds Mobile Clearance Delivery for Streamlined IFR Clearances

(NYSE: GRMN) Garmin announced Mobile Clearance Delivery for Garmin Pilot™, providing Garmin Pilot Premium subscribers on iOS devices a new way to obtain and cancel IFR clearances at select airports within the United States. The feature is integrated into the new Flights page in Garmin Pilot and is currently available in a limited capacity, with five airports operational for testing and evaluation: New Century AirCenter (KIXD), Hooks Field (KDWH), Sugar Land Regional Airport (KSGR), Galveston Scholes International Airport (KGLS), and Appleton International Airport (KATW). After filing an IFR flight plan, users at Mobile Clearance Delivery-capable airports will see the feature appear within 30 minutes of departure. The clearance remains available for review in Garmin Pilot for 48 hours after departure. Garmin developed Mobile Clearance Delivery in collaboration with the Federal Aviation Administration and MITRE, and the feature is still in its operational test and evaluation phase. The feature will be rolled out nationwide in phases through 2028. A future enhancement will allow Garmin Pilot users to cancel IFR directly in the app after landing at airports that support Mobile Clearance Delivery.

Cognizant and Gulf Edge Launch Strategic AI & Services Partnership to Accelerate Thailand's AI Transformation

(NASDAQ: CTSH) Cognizant and Gulf Edge Company Limited announced a landmark strategic partnership that aims to accelerate AI adoption across Thailand and support the country's transition toward an AI-native economy. The partnership will initially focus on accelerating AI adoption across key sectors including banking and financial services, energy and utilities, healthcare, telecommunications, manufacturing and the public sector. The collaboration brings together Gulf Edge's leadership in digital infrastructure, energy, cloud, and strategic relationships across Thailand's most important industries with Cognizant's global expertise in AI, digital engineering, cloud modernization, data, and intelligent operations. The partnership is expected to attract global technology expertise, stimulate investment in advanced digital capabilities and create high-value employment opportunities across AI engineering, data science, cloud infrastructure, cybersecurity and digital transformation. This joint effort has the potential to generate up to approximately 1,000 high-skilled jobs in advanced AI and digital transformation. Gulf Edge is building a robust digital ecosystem, spanning data centers, cloud services, satellite technology, and AI infrastructure, to accelerate Thailand's digital transformation and position the country as a regional hub for the AI economy. The two companies also plan to collaborate with universities, research institutions, technology partners and public-sector organizations to develop AI talent, promote responsible AI adoption and foster a sustainable innovation ecosystem for the country.

Genpact Launches Banking Analyst Suite, Agentic AI for Regulated Banking Operations

(NYSE: G) Genpact announced the general availability of Genpact Transaction Monitoring Analyst, the first module of its Genpact Banking Analyst Suite, designed to help banks complete routine anti-money laundering (AML) alert investigations faster and more consistently. The solution is expected to deliver up to 80% lower handling time for in-scope investigations and up to 40% lower total cost of ownership. Genpact Transaction Monitoring Analyst coordinates AI agents to assess customer behavior, analyze transactions, validate profiles, review prior alerts, and recommend next steps, with analysts making the final decisions. AMP Limited, an Australia- and New Zealand-based financial services company, is among the first to deploy Genpact Transaction Monitoring Analyst. Genpact plans to extend Banking Analyst Suite across additional regulated banking workflows, including customer due diligence, screening, fraud, customer service, and other risk areas. The suite will be designed to support the governance, data isolation, information security, and system integration requirements of regulated environments.

Workday Adaptive Planning Achieves FedRAMP Moderate Authorization to Support Federal Workforce and Budget Planning

(NASDAQ: WDAY) Workday, Inc. announced that Workday Adaptive Planning has achieved FedRAMP Authorization at the Moderate Impact Level. The authorization confirms that Workday Adaptive Planning meets the security and compliance standards required to handle sensitive, unclassified federal data. Workday Adaptive Planning helps agencies modernize planning by bringing workforce planning, budgeting, and forecasting together so agencies can plan with connected workforce and financial data. Built-in audit capabilities and FIPS 140-3 compliant security help agencies strengthen fiscal discipline, maintain compliance, and make faster, better-informed decisions. Workday Adaptive Planning is expected to be available to Workday Government customers in early 2027. Workday Government supports a range of agencies across the civilian, defense, and intelligence communities.

Infosys: AI Revenues at 8.2% in Q1; Resilient Operating Margin of 21.1%

(NSE: INFY) (BSE: INFY) (NYSE: INFY) Infosys delivered $5,082 million in Q1 revenues, with year on year growth of 2.4% and sequential growth of 1.0% in constant currency. The company reported an operating margin of 21.1%, a sequential increase of 0.2%, and EPS growth of 14.9% year on year in rupee terms. Total contract value (TCV) of large deal wins was $3.6 billion, with 61% net new, and free cash flow was $0.96 billion. For the quarter ended June 30, 2026, reported revenues were $5,082 million, with growth of 2.8% year on year and 0.8% quarter on quarter. Basic EPS was $0.20, an increase of 3.7% year on year, and free cash flow conversion was 116.5% of net profit. The company projects FY27 revenue growth of 1.5%-3.0% in constant currency and operating margin of 20%-22%.

OCAL Financial Inc. Provides Corporate Overview Following TSX Venture Exchange Listing

(TSXV: OCAL) OCAL Financial Inc. announced the completion of its listing on the TSX Venture Exchange. The company operates a virtual automotive dealership and vehicle-finance platform, founded in 2021, and is licensed as a motor dealer in British Columbia and Alberta, with offices in Vancouver and Edmonton. OCAL does not carry owned inventory and sources vehicles only after customer approval, primarily through the OPENLANE auction network and a network of dealer, wholesaler, reconditioning and logistics partners. Revenue streams include retail and wholesale vehicle sales, warranty and protection products, documentation and licensing fees, dealer administration fees, and service fees. OCAL does not hold consumer loans or assume credit-default risk, generating margin from vehicle sales and finance-related products. The company intends to expand its licensing footprint beyond British Columbia and Alberta, beginning with Ontario, and to continue developing its technology platform, subject to obtaining the required licences and approvals. Management believes its asset-light structure and proprietary technology platform position it to pursue national scale with disciplined unit economics.

DLT Telecom Inc. Announces Significant Network Expansion Across Northern Ontario, Enhancing Connectivity in Underserved Areas

(OTC:DLTI) DLT Telecom Inc., a wholly owned subsidiary of DLT Resolution Inc., announced a major expansion of its telecommunications infrastructure in Northern Ontario. The upgrades include tower enhancements with advanced technology, redundancy using the advanced technologies of TVWS and LOS, and extending coverage ranges to provide new service deployments. High-speed internet solutions such as DSL, cable, and fiber are being expanded across greater metropolitan centers nationwide, while enhanced wireless (LTE/5G) and fixed wireless offerings are being deployed in urban and rural Northern Ontario. Fixed Wireless Internet Services are being extended along the Highway 17 corridor, serving communities including Prince Township, Sowerby, Iron Bridge, Garden Village, and Nipissing First Nation. Initial services are now live in Little Current, with rollout to Gore Bay and South Bay underway shortly, and incumbent-level internet, VOIP, and hosted services are being provided in Sault Ste. Marie, Sudbury, Espanola, and North Bay. These strategic infrastructure investments are expected to drive meaningful revenue growth in the coming quarters by addressing strong demand for reliable, high-speed connectivity and entertainment services. DLT Telecom Inc. is headquartered in Toronto, with a satellite office in Little Current, Manitoulin Island Ontario, and operates across Canada and the United States.

HawkEye 360 Awarded Multi-Year Contract to Enhance Indian Ocean Region Maritime Domain Awareness

(NYSE: HAWK) HawkEye 360, Inc. announced it has been awarded a multi‑year contract to deliver advanced space‑based RF data and analytics to the Indian Navy and regional partner nations. This award was previously disclosed as part of a $100 million international contracts announcement and is part of a larger FMS program that includes the provision of SeaVision and other data sources to the Indian Navy and regional partners. Under this program, HawkEye 360 will provide daily RF signal collection and geolocation services, analytics support, and a comprehensive training program delivered in coordination with the U.S. Navy's Naval Information Warfare Center (NIWC) Pacific. The contract expands access to HawkEye 360's RFGeo data product, supporting an increasing number of partner nations over time as part of the Indo-Pacific Maritime Domain Awareness (IPMDA) initiative. HawkEye 360 will also deliver a series of RF familiarization, operator, and analyst workshops in support of the SeaVision team. The company states that its data and analytics provide mission-ready intelligence that enhances decision superiority for the Indian Navy and partner nations.

Canton Strategic Holdings, Inc. Announces Sale of Gravitas Life Sciences, LLC

(NASDAQ: CNTN) Canton Strategic Holdings, Inc. announced the sale of its biotech research and development arm, Gravitas Life Sciences, LLC, to Gravitas Collective Corp. The transaction was approved unanimously by the Board of Directors and closed on July 17, 2026. The company is the first publicly traded company to leverage Canton Coin to support the Canton Network's ability to digitize traditional financial markets. The milestone aligns with the company's transition to an operating company that drives the digitization of financial markets via the Canton Network and builds on recent progress in its operating business, including its locking service launch in June 2026. Canton Strategic Holdings, Inc. is also a strategic investor in the Canton ecosystem. The company is not affiliated with Digital Asset (Switzerland) GmbH, which owns the Canton trademark. The company projects further involvement with the Canton Network and advancing institutional blockchain adoption.

Vertiv Infrastructure Helps Bring NVIDIA AI Computing Capability to the Naval Postgraduate School

(NYSE: VRT) Vertiv announced the deployment of integrated power, liquid cooling, rack infrastructure, and installation services supporting the Naval Postgraduate School's (NPS) new NVIDIA DGX GB300 system. The project establishes an advanced, locally operated AI environment for education, research, digital engineering, modeling, and simulation. Vertiv provided and deployed the supporting physical infrastructure, engineering expertise, and installation services required to bring the high-density, liquid-cooled environment online. The deployment features a three-rack Vertiv SmartIT integrated AI infrastructure configuration to support the NVIDIA system. Vertiv SmartIT can be integrated with Vertiv SmartRun to extend the same pre-engineered architecture converging the whitespace, coordinating rack infrastructure, power, cooling, controls, and services as one deployable system. Vertiv does business in more than 130 countries. The company projects that this modular approach provides customers with a repeatable path from an initial AI deployment to broader capacity expansion in both existing facilities and new builds.

Ceragon Highlights Continued Private Network Momentum: Over $10 Million in Q2 Bookings With Selected Customer Contracts

(NASDAQ: CRNT) Ceragon, a leading solutions provider of end-to-end wireless connectivity, announced continued momentum in its private networks business, highlighting recent customer projects booked in Q2 totaling more than $10 million across public safety, utilities, and smart cities. The company received a PO from Clermont County, Ohio for an 11-site Next Generation 9-1-1 (NG9-1-1) initiative to replace legacy microwave infrastructure. Ceragon also received a PO from a county government in the U.S. Pacific Northwest to modernize an aging P25 public safety communications network. In Latin America, Ceragon secured an order for a project supporting a major metropolitan emergency and security communications network. A leading U.S. electric utility placed an order for a project supporting Fault Detection, Isolation, and Restoration (FDIR) across more than 1,000 utility assets. Ceragon solutions are deployed by more than 600 service providers and more than 1,600 private network owners in more than 130 countries. The company projects continued growth in private network opportunities across multiple industries and geographies.

Capai: Licence and Option Agreement for Ageotype

(LSE: CPAI, OTCQB: CPIQF) capAI plc has entered into a licence and option agreement (the "LOA") with R42 Group LLC for Ageotype, an AI-powered longevity and preventative health data platform. Under the LOA, capAI has been granted an exclusive worldwide licence to develop and commercialise Ageotype and a discretionary option to acquire the associated intellectual property for consideration of £2,000,000. The licence period runs for 12 months from the date of the LOA and is expected to expire on 22 July 2027. R42 will be entitled to 20% of net proceeds from any future monetisation of the underlying IP following exercise of the Option. The global healthcare AI market was valued at approximately c.US$39 billion in 2025 and is projected to reach c.US$1,033 billion by 2034 (CAGR of 44%). The LOA was entered into pursuant to a strategic alliance agreement between capAI and R42 dated 26 May 2025. The Company may proactively seek Shareholder approval of such possible "substantial property transaction" at a forthcoming general meeting.

Software Circle: Final Results for the Year Ended 31 March 2026

(AIM: SFT) Software Circle plc announced its full year audited results for the year ended 31 March 2026, reporting revenue of £22.3m and recurring revenue of £16.8m. Operating EBITDA (oEBITDA) increased to £7.6m, up 61% from the previous year, while adjusted EBITDA (aEBITDA) reached £5.8m. The company deployed £12.1m during the year, including costs and deferred consideration payments for past acquisitions and two new acquisitions: Artificial Intelligent Finance Ltd and Broker Information Services Ltd. Cash generated from operating activities was £5.9m, and cash and cash equivalents at year end were £3.9m. Post year end, Software Circle secured a £25.0m debt facility plus a £10.0m accordion option to extend deployable capital. The company projects that as the Group grows, acquisitions will be able to be funded entirely through cash flow and debt, reducing reliance on equity issuance.

The Smarter Web Company: Repayment of Smarter Convert Instrument

(LSE: SWC | OTCQB: TSWCF) The Smarter Web Company PLC announced the repayment of its Smarter Convert instrument, held by entities related to the TOBAM Group, approximately two weeks ahead of its maturity, with a total repayment of $11,698,540 to TOBAM. The repayment was funded through the disposal of 177.8909127 Bitcoin at an average price of $65,762, representing the total number of Bitcoin acquired from the subscription proceeds. The original agreement required at least 98% of the funds to be deployed into Bitcoin, but the Company elected to deploy 100% of the funds into Bitcoin and repaid 100% of the acquired Bitcoin. As a result of the repayment, the potential issue of 7,718,551 ordinary shares associated with Smarter Convert has been eliminated. Following the disposal, the Company holds 2,700 Bitcoin. Since 2022, The Smarter Web Company has adopted a policy of accepting payment in Bitcoin. The Company is materially exposed to Bitcoin and holds treasury reserves and surplus cash in Bitcoin.

Swiss Post Converts to Hybrid Stamps

(NASDAQ:SPSC) Spectra Systems Corporation announced that Swiss Post has confirmed it will transition its stamp programme to hybrid stamps with data-matrix codes, resulting in an approximate 40% increase in revenue over the 5-year contract period, which commenced in 2024 and has an additional one-year option. The value over the entire contract, including the one-year option, increases its value to approximately $1.6M. The announcement follows the successful completion of a pilot programme with Swiss Post. Hybrid stamps offer enhanced security, improved traceability, and customer engagement opportunities. Andrew Brigham, Managing Director of the Security Printing Group, commented on the significance of Swiss Post's decision as an endorsement of the technology and Spectra's ability to deliver. Nabil Lawandy, CEO, stated that the full conversion to hybrid stamps by Swiss Post validates Spectra's financial projections incorporating increased use of this technology. The announcement was released on 23 July 2026.

Pureprofile Delivers Record Business-Wide Revenues and Sustained Growth in FY26

(ASX: PPL) Pureprofile has reported record revenue and EBITDA for financial year 2026, with group revenue increasing 14% on the previous corresponding period to $65 million. Australia-New Zealand revenue increased 8% to $33.4m, while rest of world revenue jumped 20% from the same time last year to $31.6m, or approximately 24% in constant currency, despite a $1m reported foreign exchange impact. The result included approximately $600,000 of revenue from the March acquisition of Australian market and social research business CRNRSTONE. Pureprofile’s EBITDA climbed 25% on the previous corresponding period to $6.5m, delivering on the group’s 10% EBITDA margin guidance, with total expense growth of approximately 9% remaining below revenue growth. Platform revenue grew 74% on the previous corresponding period to $19.3m, supported by continued expansion of API-driven integrations and growing adoption of automated data delivery solutions. The company projects that strong client demand for scalable, technology-enabled offerings will support continued platform growth and contribute to margin expansion as the business scales.

TI Reports Second Quarter 2026 Financial Results and Shareholder Returns

(NASDAQ:TXN) Texas Instruments Incorporated reported second quarter revenue of $5.46 billion, net income of $1.98 billion, and earnings per share of $2.14. Earnings per share included a 5-cent benefit that was not in the company's original guidance. Revenue increased 13% sequentially and 23% from the same quarter a year ago, with broad growth led by industrial, data center and automotive. Cash flow from operations for the trailing 12 months was $8.7 billion, and free cash flow for the same period was $6.5 billion. Over the past 12 months, the company invested $3.9 billion in R&D and SG&A, invested $3.3 billion in capital expenditures, and returned $5.8 billion to owners. TI's third quarter outlook is for revenue in the range of $5.65 billion to $6.15 billion and earnings per share between $2.23 and $2.57. Dividends paid in the trailing 12 months were $5.1 billion, and stock repurchases totaled $707 million.

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