TECH BULLETIN

Friday, July 31, 2026

Tech Market Context: Macro Drivers

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Today's Interesting Company News

SEALSQ Launches Commercial Phase of Miraex Quantum Photonics Technology Following Strategic Acquisition

(NASDAQ: LAES) SEALSQ Corp announced the start of the commercial phase of the quantum photonics technology developed by Miraex SA, following the 100% acquisition of the Swiss company in June 2026. The acquisition was completed on June 2, 2026 and was financed through SEALSQ’s $200 million Quantum Fund (SEALQUANTUM.com), which has already deployed more than $65 million into strategic quantum technology investments. Miraex, headquartered at the EPFL Innovation Park in Ecublens, Switzerland, now becomes the cornerstone of SEALSQ’s quantum photonics activities. The proprietary Thin Film Lithium Tantalate Photonic Integrated Circuit (TFLT PIC) platform is capable of efficiently converting quantum information between microwave frequencies and optical frequencies. The commercial rollout initially targets four high-growth markets: Distributed Quantum Computing (DQC), Quantum Networking, Quantum Sensing, and Quantum Orbital Space Cloud (QOSC). SEALSQ’s integration of Miraex significantly strengthens its long-term roadmap to create sovereign quantum infrastructure. The company projects that the commercialization of Miraex’s technology will accelerate quantum adoption through strategic partnerships with hyperscalers, telecom operators, government agencies, defense organizations, research institutions, and industrial leaders.

GigaMedia Announces Second-Quarter 2026 Financial Results

(NASDAQ: GIGM) GigaMedia Limited announced its second-quarter 2026 unaudited financial results, reporting revenues of $2.13 million, gross profit of $1.24 million, an operating loss of $0.10 million, and net income of $0.55 million. Operating revenues increased by approximately 182.3% quarter-on-quarter from $0.75 million in the previous quarter and by 144.9% year-over-year from $0.87 million in the same period last year. The company successfully converted and settled its holdings of Aeolus Robotics Corporation corporate bonds into preferred shares, resulting in a 33.35% ownership voting right and a deemed disposal gain of $0.37 million. The book value of the Aeolus investment increased from $8.17 million to $12.67 million at the end of the quarter. Cash, cash equivalents, and restricted cash amounted to $29.0 million, or $2.63 per share, as of June 30, 2026. The net asset value was $3.69 per share. The company projects sustaining the momentum from this quarter's success and deepening engagement with the customer base to fuel future growth.

Arbe Tier-1 Sensrad Announces Collaboration With VirtuRail to Strengthen Tunnel Safety With 4D Imaging Radar

(NASDAQ: ARBE) Arbe Robotics announced that its tier-1, Sensrad, is collaborating with VirtuRail to strengthen tunnel safety with 4D Imaging Radar. VirtuRail will add 4D Imaging Radar to its advanced driver assistance system, which currently relies primarily on cameras and LiDAR sensors. Sensrad's 4D imaging radar, based on Arbe's chipset, was chosen by VirtuRail for its high performance in low visibility conditions. Sensrad's Hugin D1 4D imaging radar and Oden Drive perception software were selected to improve system redundancy and provide reliable situational awareness in emergency situations such as tunnel fires. Arbe's Phoenix radar system features 2,304 virtual channels and advanced AI algorithms that transform radar data into a perception-ready layer. Arbe is headquartered in Tel Aviv, Israel, and also operates offices in the United States, Germany, and China. The company projects that its radar technology enables OEMs, Tier-1s, and technology partners to build more capable perception systems for passenger vehicles, robotaxis, heavy machinery, defense, and additional advanced sensing markets.

TELUS Reports Second Quarter 2026 Financial and Operational Results and Resets Quarterly Dividend to Support Deleveraging and Fuel Long-term Growth

(TSX: T) (NYSE: TU) TELUS Corporation reported a net loss of $1.8 billion for the second quarter ended June 30, 2026, due to a pre-tax, non-cash intangible asset and goodwill impairment of $2.1 billion. The company delivered mobile phone and internet net additions of 17,000 and 20,000, respectively, and connected device net additions of 187,000, with mobile network revenue of $1.7 billion, up 1 per cent year-over-year, and ARPU of $56.36, declining at a decelerating rate of 0.4 per cent. Consolidated service revenue was $4.4 billion, down 1 per cent, and adjusted EBITDA was $1.8 billion, down 2 per cent, while capital expenditures for the quarter were $678 million and full-year capital expenditures have been updated to approximately $2.6 billion. Cash provided by operating activities was $1.3 billion, up 15 per cent, and free cash flow was $545 million, up 2 per cent. The Board declared a quarterly dividend of $0.1875 per share, representing a reset of 55 per cent to an annualized amount of $0.75 per share, expected to generate approximately $2.7 billion in cumulative cash savings through 2028, with the DRIP discount to be removed effective October 1, 2026. TELUS is targeting net debt to Adjusted EBITDA of approximately 3.0-times or lower by year-end 2028, and revised its full-year consolidated service revenue guidance to a range of flat to negative 2 per cent, consolidated Adjusted EBITDA to a range of negative 2 to negative 4 per cent, and full-year free cash flow to approximately $1.8 billion. The company projects leverage to decline sequentially in 2027 and 2028, supported by organic free cash flow growth, declining capital intensity, the dividend reset, and proceeds from strategic portfolio review processes.

ECARX-Backed Chip Maker SiEngine Secures US$200M Equity Financing to Accelerate Vertical Silicon-to-Software SDV Innovation

(NASDAQ:ECX) ECARX Holdings Inc. announced that SiEngine Technology Co., Ltd., its incubated automotive semiconductor investment, has secured US$200 million in new equity capital from institutional investors over the course of H1 2026. SiEngine was co-founded in 2018 by ECARX and Arm China, and ECARX remains the company's largest single shareholder. The US$200 million equity injection will fuel SiEngine's next-phase R&D, production capacity expansion, globalization, and international customer growth. Antora® solutions powered by the 7nm Longying I chip have achieved global deployment, supporting dozens of vehicle models including Geely Galaxy, Lynk & Co and FAW Hongqi. ECARX's technology is deployed across over 11 million vehicles worldwide and is currently partnered with 18 global automakers and 28 vehicle brands. ECARX operates from 13 major international locations across Europe, the Americas and Asia, with a global team of over 1,400 employees. The company projects that SiEngine's newly unveiled 5nm Longying II cabin-driving fusion SoC will establish a new industry benchmark for China's end-to-end software-defined vehicle technology.

SAP Fioneer Launches Cloud Accounting Subledger

(LSE/AIM:FNEWS) SAP Fioneer announced the launch of its Cloud Accounting Subledger (CAS), a cloud-based solution designed to help financial institutions manage complex accounting requirements and modernize finance operations. The Cloud Accounting Subledger enables financial institutions to manage accounting standards such as IFRS and US GAAP within a single, unified subledger. SAP Fioneer was launched in 2021 as a strategic partnership between Dediq and SAP SE. The company has over 1,200 financial services customers and more than 1,500 employees. SAP Fioneer is present in 17 countries across Europe, North and Latin America, Middle East and Asia-Pacific. The company states that the solution is purpose-built for AI and built for SAP S/4HANA Public Cloud. Management claims the launch marks an important step in the continued expansion of SAP Fioneer’s public cloud portfolio for financial services.

FatPipe Reports Q1 FY2027 Results: 28% Y-o-Y Q1 Revenue Growth and 25.6% Adjusted EBITDA Margin

(NASDAQ: FATN) FatPipe, Inc. announced its first quarter fiscal year 2027 results for the period ended June 30, 2026, reporting Q1 2027 revenue of $5.03M, representing 28% growth compared to $3.9M in Q1 2026. Q1 2027 net income was $1.2M compared to $0.7M in Q1 2026. Diluted net income per share was $0.09, compared to $0.05 in Q1 2026. Adjusted EBITDA for Q1 2027 was $1.3 million, with an Adjusted EBITDA margin of approximately 25.6%, compared to $1.1 million in Q1 2026. Revenue growth during the quarter was driven by increased recurring billings, customer renewals, and new customer wins. FatPipe currently has 13 U.S. patents related to multipath, software-defined networking. FatPipe products are sold by 200+ resellers worldwide.

Dolby Laboratories Reports Third Quarter 2026 Financial Results

(NYSE: DLB) Dolby Laboratories, Inc. announced its financial results for the third quarter of fiscal 2026, reporting total revenue of $305 million, compared to $316 million for the third quarter of fiscal 2025. GAAP net income was $29 million or $0.30 per diluted share, while non-GAAP net income was $65 million or $0.69 per diluted share. Dolby repurchased 1.2 million shares of its common stock for approximately $65 million and announced a cash dividend of $0.36 per share of Class A and Class B common stock, payable on August 19, 2026, to stockholders of record as of August 11, 2026. The Board of Directors approved increasing the size of its stock repurchase program by $350 million, bringing the amount available for future repurchases to approximately $427 million. The 2026 FIFA World Cup was shown in Dolby Atmos and/or Dolby Vision across broadcast, streaming, and pay TV, including Bell TV in Canada and TV GLOBAL in Brazil. For the fourth quarter of fiscal 2026, total revenue is expected to range from $362 million to $392 million, and for the full year of fiscal 2026, total revenue is expected to range from $1.41 billion to $1.44 billion. The company projects licensing revenue, gross margins, operating expenses, effective tax rates, and diluted earnings per share for both the fourth quarter and full year of fiscal 2026.

SRX Global Acquires Shares in Jersey Mike’s $1 Billion Initial Public Offering

(NYSE:SRXH) SRX Global Inc. announced that it acquired shares in the initial public offering of Jersey Mike’s, which priced its Class A common shares at $23.00 per share yesterday at a total valuation of $1 billion. Jersey Mike’s is described as a leading fast-casual restaurant franchisor with more than 3,300 locations across the United States and Canada. The IPO began trading on the New York Stock Exchange today under the ticker JMKE. SRX Global Inc. is an AI-enabled platform focused on generating long-term shareholder value through investments in high-conviction operating companies, strategic assets, and technology-enabled opportunities. The company leverages proprietary technology, data analytics, and disciplined capital allocation to identify and manage investments across multiple sectors.

Parvis Reports Fiscal Year 2026

(TSXV: PVIS) Parvis Invest Inc. filed its audited consolidated financial statements and MD&A for the fiscal year ended March 31, 2026, reporting revenue of $2,315,511, a 143% increase over FY2025 revenue of $954,810. Platform fee revenue rose 185% to $1,853,241, now representing 80% of total revenue, while new revenue lines in advisory services ($57,000) and marketing services ($153,677) were established. Net loss narrowed 27% to $1,157,918 from $1,578,590 in FY2025, and the company achieved a profitable quarter in Q2 FY2026 with net profit of $129,520. General and administrative expenses increased to $3,032,195, with salaries and wages at $1,825,963, but marketing and advertising expenses decreased to $60,925. Parvis completed the acquisition of Richmond Global Wealth Inc. on April 6, 2026, and signed binding agreements for the acquisitions of Atlas One Digital Securities Inc. and FavorPoint Capital, LLC. The company announced amended terms for a concurrent financing of up to C$3,000,000 in unsecured convertible debentures at a subscription price of C$0.55 per unit. The company projects completing the Atlas One and FavorPoint transactions, converting over 30 issuer applications, and continuing to grow recurring platform fee revenue in FY2027.

GSI Technology, Inc. Announces First Quarter of Fiscal Year 2027 Results

(NASDAQ: GSIT) GSI Technology, Inc. reported financial results for its first fiscal quarter ended June 30, 2026, with net revenues of $6.3 million, flat compared to both the prior quarter and the previous year. Gross margin for the first quarter of fiscal 2027 was 53.4%, compared to 58.1% in the first quarter of fiscal 2026 and 52.4% in the preceding fourth quarter. The company ended the quarter with a cash balance of $77.0 million, up from $67.2 million at March 31, 2026, primarily due to $9.3 million in ATM stock sales and $4.8 million from employee stock option exercises. Operating expenses for the quarter were $8.8 million, with research and development expenses at $5.9 million, and the company reported an operating loss of $5.4 million and a net loss of $4.8 million, or $(0.13) per diluted share. Military/defense sales accounted for 31.3% of first-quarter shipments, and working capital was $80.0 million as of June 30, 2026. The company projects Smart City Phase I deployment completion in November 2026, Plato development tape-out in March 2027, and the release of its AI-assisted SDK in September 2026. For the second quarter of fiscal 2027, GSI Technology expects net revenues in the range of $5.7 million to $6.5 million and gross margin of approximately 53% to 55%.

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