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Elevance Health (ELV): Conviction Pays Off as Underwriting Disciplines Stabilize Margins
Cambiar Opportunity Fund, managed by Cambiar Investors, published its Q2 2026 investor letter. The letter can be downloaded here. U.S. equity markets experienced a significant rebound in Q2, with the S&P 500 rising 15.2% and the Russell 2000 up 21.5%. Growth stocks outperformed value, although value retained a year-to-date lead. The market’s rise was fueled […]
AMD Ryzen 7 5800X3D Is Making A Comeback In Q2 2026 As AM4 Turns 10
AMD is re-launching the Ryzen 7 5800X3D in Q2 2026, featuring 8 cores, 16 threads, and 3D V-Cache for superior gaming performance.
BETMGM Q2 2026 BUSINESS UPDATE
Q2 continued delivery of profitable growth with ongoing focused strategic execution JERSEY CITY, N.J., July 28, 2026 /PRNewswire/ -- BetMGM LLC ("BetMGM"), a leading sports betting and iGaming...
Galaxy Entertainment Group Q2 & Interim Results 2026
Leading Macau’s Non-Gaming Diversification Through MICE, Entertainment and Sporting Events Gaming and Entertainment Division on a Normalized Basis,Q2 2026 Net Revenue Grew 6%, Adjusted Property EBITDA Grew 9% and Adjusted Property EBITDA Margin Expanded From 30.5% to 31.4% YoY Announced Interim Dividend of $0.90 per Share Continued to Ramp up Capella at Galaxy Macau HONG KONG, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Galaxy Entertainment Group (“GEG”, “Company” or the “Group”) (HKEx stock code: 27) tod
Tencent Music Entertainment Group (TME) Stock Climbed, What Is Driving Attention Now?
Tencent Music Entertainment Group (TME) reported its second quarter 2026 results, with revenue supported by newly consolidated audio platform Ximalaya. Management also highlighted live entertainment, merchandise, and artist partnerships as growth areas. See our latest analysis for Tencent Music Entertainment Group. The Q2 2026 earnings release, the completion of a US$400 million share repurchase covering 2.82% of shares, and Tencent Music Entertainment Group's recent music IP summit come...
AMC Entertainment posts record quarterly revenue $1.60B and adjusted EBITDA $321.4M in Q2 2026
AMC Entertainment reported record quarterly results for Q2 2026, with total revenues of $1,596.7 million and adjusted EBITDA of $321.4 million — the highest quarterly figures in the company's history. Net loss for the quarter was $11.4 million while adjusted net earnings were $104.3 million; adjust…
Why Alphabet (GOOGL) Is Proving AI Can Strengthen Its Search Business
Aristotle Capital Management, LLC, an investment management company, released its “Value Equity Fund” Q2 2026 investor letter. A copy of the letter can be downloaded here. The Fund delivered a 4.32% total return in Q2 2026, underperforming the 13.87% gain for the Russell 1000 Value Index and the 15.20% return for the S&P 500, while […]
Exceptional Earnings and AI Immunity Fuel Hinge Health’s (HNGE) Performance
Osterweis Capital Management, an investment management firm, released its Q2 2026 investor update for its “Osterweis Opportunity Fund”. You can download a copy of the letter here. The fund returned 35.34% in the quarter, significantly outperforming the Russell 2000 Growth Index’s 25.71% gain. Robust corporate profits, AI investment, easing oil-shock concerns, strong labor markets, and […]
Tarsus Reports Fourth Quarter and Full-Year 2025 Financial Results and Recent Business Achievements
Generated full-year 2025 net product sales of XDEMVY® of $451.4 million, an increase of more than 150% year-over-year Providing expected XDEMVY peak sales potential of more than $2 billion Extending category-creating leadership with initiation of Phase 2 trial of TP-04 in ocular rosacea (OR) and plans to initiate a Phase 2 trial of TP-05 for Lyme disease prevention in Q2 2026 Management to host conference call today, February 23, 2026, at 1:30 p.m. PT / 4:30 p.m. ET IRVINE, Calif., Feb. 23, 2026
Maximum Entertainment Interim Report Q2 2026
Stockholm, Sweden (August 31, 2026) – Maximum Entertainment AB (Nasdaq: MAXENT B) today released its interim report for the second quarter of 2026.Second quarter, April-June 2026 (Compared to April-June 2025)First half year, January-June 2026 (Compared to January-June 2025)Significant events during…
AMC ENTERTAINMENT HOLDINGS ($AMC) Releases Q2 2026 Earnings
AMC ENTERTAINMENT HOLDINGS ($AMC) posted quarterly earnings results for Q2 2026 on Monday, July 20th. The company reported earnings of $0.14 per share, beating estimates of -$0.06 by $0.20. The company also reported revenue of $1,596,700,000, beating estimates of $1,488,804,013 by $107,895,987.You can see Quiver Quantitative's $AMC stock page to track data on insider trading, hedge fund activity, congressional trading, and more.
AMC Entertainment (AMC) Stock Trades Up, Here Is Why
What Happened? Shares of theater company AMC Entertainment (NYSE:AMC) jumped 17.3% in the morning session after the company reported impressive Q2 2026 earni...
AMC Entertainment Q2 2026 earnings: record revenue, surprise profit
The theater chain beat Wall Street estimates on both revenue and earnings as attendance climbed in the U.S. and Europe
Sphere Entertainment Co (SPHR) (Q2 2026) Earnings Call Highlights: Strong Sphere Revenue Growth ...
Sphere Entertainment Co (SPHR) reports a 30% revenue surge in its Sphere segment driven by 'The Wizard of Oz,' while advancing construction on new venues in Abu Dhabi and National Harbor.
What Makes Guardant Health (GH) a Compelling Bet?
Artisan Partners, an investment management company, released its second-quarter 2026 investor letter for the “Artisan Mid Cap Fund”. The letter can be downloaded here. Global equities rebounded sharply in Q2 2026, recovering from March lows as resilient economic data, strong corporate earnings, and continued AI investment improved investor sentiment despite inflation concerns, delayed rate cuts, and […]
Gilead’s HIV Business is Surging, but is the Company Too Dependent on One Franchise?
Gilead Sciences, Inc. (NASDAQ:GILD) delivered strong fiscal Q2 2026 results, with total revenue rising 10% year over year to approximately $7.8 billion. The performance was primarily driven by continued growth across its HIV franchise, including Biktarvy and the newly launched Yeztugo. Gilead also raised its full-year product-sales guidance following the quarter. However, HIV products generated […]
Is AMC Entertainment Holdings (AMC) Fairly Valued After Its Q2 2026 Results?
AMC Entertainment Holdings (AMC) just posted its second quarter 2026 results, giving investors fresh detail on how the cinema operator is performing on both revenue and profitability after a busy movie slate. See our latest analysis for AMC Entertainment Holdings. At a share price of US$2.20, AMC Entertainment Holdings has swung sharply in recent sessions, with a 7 day share price return of 12.24% after Q2 headlines, yet a 1 month share price return down 22.26% and a 1 year total shareholder...
PENN Entertainment (PENN) to Release Earnings on Thursday
PENN Entertainment (NASDAQ:PENN) will be releasing its Q2 2026 earnings before the market opens on Thursday, August 6. (View Earnings Report at https://www.marketbeat.com/earnings/reports/2026-8-6-penn-national-gaming-inc-stock/)
AMC Entertainment (AMC) Stock Trades Up, Here Is Why
Shares of theater company AMC Entertainment (NYSE:AMC) jumped 17.3% in the morning session after the company reported impressive Q2 2026 earnings results with revenue and Adjusted EBITDA crushing expectations.The cinema chain delivered a blowout second quarter, posting total revenues of $1.60 billion—representing 14.2% year-over-year growth and easily surpassing analyst estimates of $1.47 billion. Profitability metrics were particularly strong, with Adjusted EBITDA soaring to $321.4 million comp
Disney Entertainment revenues up 10% in Q2
The Walt Disney Company has reported that its Q2 2026 revenues increased 7 per cent YoY to $25.2 billion (€21.4bn) in its first published results under new CE
Melco Resorts & Entertainment (MLCO) Stock Rises on Q2 2026 Earnings
Melco Resorts & Entertainment Limited (MLCO) reported second-quarter 2026 revenue of $1.3 billion, down 40.0% from a year earlier, as gross profit fell sharply to $429.4 million. Despite the weaker top line, operating profit improved to $127.8 million, while net income attributable to common shareholders rose to $22.7 million, or $0.057 per diluted share.Cash generation strengthened meaningfully during the quarter. Cash from operating activit
Entertainment Unleashed: Sphere Entertainment’s (SPHR) Innovative Approaches
Sands Capital, an investment management company, released its “Sands Capital Select Growth Fund” Q2 2026 investor letter. The letter can be downloaded here. Select Growth Fund targets U.S. businesses driving significant structural change through disruptive innovation. The fund returned 23.2% in the quarter, outperforming the Russell 1000 Growth Index’s 16.7%. U.S. large-cap growth equities rebounded […]
Accel Entertainment schedules Aug. 4 results call after market close
CEO Andrew Rubenstein and senior management will review Q2 2026 results at 4:30 PM ET, with a webcast replay posted on the investor site.
Accel Entertainment (ACEL) Releases Q2 2026 Earnings: Revenue Beats Estimates and EPS Jumps
Accel Entertainment, Inc. $ACEL reported second-quarter 2026 revenue of $368.1 million, up 9.6% from a year earlier and slightly ahead of Wall Street’s $363.6 million estimate. Gross profit rose 9.5% to $115.2 million, while operating profit climbed 19.3% to $32.1 million.The company also posted stronger bottom-line results, with net income attributable to common shareholders increasing 70.8% to $12.5 million. Diluted earnings per share came in a
Vaxart Provides Business Update and Reports Full Year 2025 Financial Results
Topline data from 400-person sentinel cohort of the Phase 2b COVID-19 trial anticipated early Q2 2026 Published positive clinical results in the first quarter of 2026 demonstrating oral norovirus vaccine candidate was safe and immunogenic in lactating women and resulted in passive transfer of antibodies to their infants via breast milk Cash, cash equivalents and investments of $63.8 million as of December 31, 2025; Runway into second quarter of 2027 Conference call today at 4:30 p.m. ET Live sto
Minerva Neurosciences Reports Fourth Quarter and Fiscal Year 2025 Financial Results and Business Updates
Initiation of confirmatory Phase 3 trial with roluperidone for negative symptoms of schizophrenia is planned for Q2 2026, with topline data anticipated in 2H 2027BURLINGTON, Mass., March 11, 2026 (GLOBE NEWSWIRE) -- Minerva Neurosciences, Inc. (Nasdaq: NERV), a clinical-stage biopharmaceutical company focused on the development of therapies to treat central nervous system (CNS) disorders, today provided business updates and reported financial results for the fourth quarter and year ended Decembe
Small business sentiment stable but cash flow concerns continue to rise
The quarterly Ipsos/U.S. Chamber of Commerce Small Business Index in Q2 2026 is largely stable from Q1 2026
Play! Pokémon Rules and Resources Updated for Q2 2026
Check out the latest updates to your go-to rules and resource documents.
Fannie Mae reportedly cuts senior executives across business lines
About 10 senior Fannie Mae leaders were let go this week as Pulte restructures, even as Q2 2026 net income hit $4 billion.
Azitra, Inc. Announces Q2 2026 Results and Provides Business Updates
/PRNewswire/ -- Azitra, Inc. ("Azitra" or the "Company") (NYSE American: AZTR), a clinical stage biopharmaceutical company focused on developing innovative...
WEBTOON ENTERTAINMENT Q2 2026 Earnings Preview: Recent $WBTN Insider Trading, Hedge Fund Activity, and More
WEBTOON ENTERTAINMENT ($WBTN) is expected to release its quarterly earnings data on Monday, August 10th after market close, per Finnhub. Analysts are expecting revenue of $346,249,710 and earnings of -$0.07 per share.You can see Quiver Quantitative's $WBTN stock page to track data on insider trading, hedge fund activity, congressional trading, and more.WEBTOON ENTERTAINMENT RevenueWEBTOON ENTERTAINMENT had revenues of $320.9M in Q1 2026. This is
BETMGM Q2 2026 BUSINESS UPDATE
/PRNewswire/ -- BetMGM LLC ("BetMGM"), a leading sports betting and iGaming operator across North America, jointly owned by MGM Resorts International (NYSE:...
Melco Resorts & Entertainment Limited to Release Second Quarter 2026 Financial Results on August 13
Melco Resorts will announce Q2 2026 financial results on August 13, followed by a conference call at 8:30 a.m. ET.Quiver AI SummaryMelco Resorts & Entertainment Limited has announced that it will release its unaudited financial results for the second quarter of 2026 on August 13, 2026, followed by a conference call at 8:30 a.m. Eastern Time. Participants must register in advance to receive dial-in details. The conference call will be available vi
AMC Entertainment Holdings (AMC) After Record IMAX Demand Is Fair Value Still Lower
AMC Entertainment Holdings (AMC) is back in focus after reporting record IMAX revenue tied to strong demand for THE ODYSSEY. The surge in premium-format attendance comes alongside fresh second quarter 2026 earnings figures. See our latest analysis for AMC Entertainment Holdings. The recent excitement around THE ODYSSEY and AMC Entertainment Holdings' Q2 2026 earnings has coincided with a sharp shift in sentiment, with the share price at $2.51 and a 90 day share price return of 53.05%, but a 1...
Small business sentiment shows uptick but economic concerns persist
The quarterly Ipsos/MetLife/U.S. Chamber of Commerce Small Business Index in Q3 2026 is up from Q2 2026
NextCure Provides Business Update
SIM0505 (CDH6 ADC) Phase 1 dose escalation data update anticipated in Q2 2026LNCB74 (B7-H4 ADC) Phase 1 dose escalation expanded into higher dose cohorts BELTSVILLE, Md., Jan. 23, 2026 (GLOBE NEWSWIRE) -- NextCure, Inc. (Nasdaq: NXTC), a clinical-stage biopharmaceutical company committed to developing novel therapies to treat cancer, today provided updates for its two antibody drug conjugate (ADC) programs and reported a preliminary year-end 2025 cash position. SIM0505 (CDH6 ADC): Phase 1 dose e
Immersive Experience Bolsters Sphere Entertainment’s (SPHR) Strong Performance
O’Keeffe Stevens Advisory, an investment advisory firm, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. During Q2 2026, the market experienced notable dispersion between perceived AI losers and winners. The firm has made investments early in AI infrastructure companies, which yielded gains during market repricing. The second quarter […]
Grand Canyon Education (LOPE): A Steady Cash-Generating Business Ignored in a Speculative Market
Riverwater Partners, an investment management company, released its ‘Small Cap Strategy’ Q2 2026 investor letter. The letter can be downloaded here. The Small Cap Strategy underperformed the Russell 2000 in the second quarter as the benchmark experienced one of its strongest risk-on rallies in recent memory, although the strategy remained ahead year-to-date. The quarter was defined […]
Flutter Entertainment (FLUT) On Guidance Cuts And Losses Still Looks Undervalued
Guidance cut, net loss and delisting put Flutter Entertainment in focus Flutter Entertainment (NYSE:FLUT) is under close watch after a Q2 2026 net loss, a cut to full year revenue guidance and confirmation that its shares now trade only on the New York Stock Exchange. The shift in guidance reflects higher investment to build U.S. market share and the impact of specific sports results on revenue. These moves, together with the London delisting, are shaping how investors reassess Flutter...
Record Backlog Powers NRC Health’s (NRC) Upward Potential
Long Cast Advisers, an independent registered investment adviser, released its Q2 2026 investor letter. A copy can be downloaded here. The firm reported strong earnings in the second quarter, with results improving 20%, bringing year-to-date returns to +19%. While performance trailed the Russell 2000 and iShares US MicroCap ETF, it remained well ahead of the […]
Science on Target: Q2 2026 Research Spotlight
Basic Biology Consortium breaks new ground in ALS In 2022, Target ALS awarded funding to Drs. Jonathan Cooper-Knock (University of Sheffield, project lead) and Michael Snyder (Stanford University), along with fellow consortium members Drs. Ophir Shalem (University of Pennsylvania) and Eran Hornstein (Weizmann Institute), for their project “Exploring the landscape of ALS genetics with machine […]
Sami Inkinen, Virta Health CEO: A Fortt Knox Update
Virta Health CEO Sami Inkinen said the company posted its first-ever profitable quarter — Q2 2026, on cash-flow and EBITDA — after a post-2021 down round, part of a "Project Independence" push to self-funding. In conversation with Jon Fortt, he casts GLP-1 drugs as a tailwind: with nutrition, Virta says patients lose a third more weight (20% vs 15%) and sustain 85% of the weight loss a year after stopping, saving ~$5,600 per diabetes patient yearly. Virta serves ~800 employers and plans.
Dave & Buster's Entertainment (PLAY) Expected to Release Quarterly Earnings on Monday
Dave & Buster's Entertainment (NASDAQ:PLAY) will be releasing its Q2 2026 earnings after the market closes on Monday, September 14. (View Earnings Report at https://www.marketbeat.com/earnings/reports/2026-9-14-dave-busters-entertainment-inc-stock/)
Flutter Entertainment to Announce Second Quarter 2026 Update on August 5
Flutter Entertainment will announce its Q2 2026 results on August 5, with a management conference call to follow.Quiver AI SummaryFlutter Entertainment has announced that it will release its second quarter 2026 financial update on August 5, 2026, at 7:00 a.m. EDT. The results will be available on its website, and management will hold a conference call at 8:30 a.m. EDT to discuss the results and answer questions, accessible via both webcast and te
MBX Biosciences to Provide 2026 Outlook and Business Update at 44th Annual J.P. Morgan Healthcare Conference
One-year follow-up data from Phase 2 trial of once-weekly canvuparatide, a potential best-in-class therapy for hypoparathyroidism, anticipated in Q2 2026; Phase 3 initiation on track for Q3 2026 12-week data from Phase 1 trial of MBX 4291, a dual GLP-1/GIP co-agonist prodrug with potential for once-monthly dosing and improved tolerability for obesity, anticipated in Q4 2026 Nomination of two additional obesity candidates expected in 2026: an amycretin prodrug and a GLP-1/GIP/GCGR triple agonist,
Northern Virginia's Business Leaders Turn a Corner
Based on the Q2 2026 NVC/Pinkston Northern Virginia Business Leader Survey.
CEO Economic Outlook Index Q2 2026
The Business Roundtable CEO Economic Outlook Index is based on a survey, conducted quarterly since the fourth quarter of 2002, of our member CEOs' plans for hiring and capital spending, and their expectations for sales, over the next six months.
QXO (QXO) is Rebuilding Business Models for Greater Value
Orbis Investment Management, an investment management company, released its Q2 2026 investor letter for “Orbis Global Equity Strategy”. The letter can be downloaded here. In the first half of 2026, the Global Equity Strategy returned 19.9%, surpassing the MSCI All Country World Index by 7.8%. The market faced narrow breadth in the quarter. The strategy focuses […]
New Report: Small Businesses Lean Into Growth and AI
/PRNewswire/ -- Small business optimism remained steady in Q2 2026 with more than nine in 10 owners confident in growth over the next year, according to the...
Dave & Buster's Entertainment, Inc. Q2 2026: Revenue $544.1M, EPS $(0.36)
Dave & Buster's Entertainment, Inc. reported second-quarter 2026 results with revenue of $544.1M, a net loss of $12.5M and diluted EPS of $(0.36), compared with revenue of $557.4M, net income of $11.4M and diluted EPS of $0.32 in the year-ago quarter.Financial HighlightsBusiness HighlightsOriginal…
Zoetis Earnings Reveal a Divided Business, But Can its Pipeline Restore Growth?
Zoetis Inc. (NYSE:ZTS) entered 2026 as a leader in animal health, but its latest earnings show that even a strong market position cannot fully insulate the company from weaker consumer demand. Fiscal Q2 2026 revenue remained flat at $2.5 billion and declined 1% on an organic operational basis, as pressure in the U.S. companion-animal market […]
How Americans’ Financial Health Is Faring In The “K-Shaped” Economy
Hey all, Jason here. Money20/20 is still two weeks away, but I’ve already started packing (not procrastinating for once!). My calendar is already filling up with various sessions I want to catch, meetings, and of course happy hours, dinners, and other side events. If you’ll be in Vegas and want to catch up, let me know by replying to this email, and we can try to find a time amidst the chaos of the Venetian. A big if not totally unexpected piece of news dropped on Friday: the Independent Community Bankers of America, a trade group that represents smaller U.S. banks, filed a lawsuit against the OCC and Comptroller Jonathan Gould, arguing that the regulator’s move to grant trust bank charters to firms seeking to use them to conduct substantial non-fiduciary activities exceeds the authorities granted to the OCC by Congress. I haven’t had time to fully digest the legal filing or speak to folks in my network about it, but you can expect to see coverage and analysis on it in next week’s newsletter. Subscribe or Support by Upgrading The NerdCon agenda just dropped. It’s stacked. Partner content: Nubank built an AI-first bank. Chime built its own banking core. Figure and Valon are rebuilding the mortgage stack. At NerdCon, you’ll hear from the people behind those bets: what they chose, what they learned, and what they’re still figuring out. The agenda is live, with leaders from Nubank, Chime, OpenAI, Remitly, Mercury, Figure, Valon and more. Follow the mainstage conversations, bring the problem your team is wrestling with to a hands-on workshop, or pull up a chair at a roundtable. Pick your quests. Meet us in San Diego, November 18–20. Fintech Business Weekly readers save 20% with code FBW20. Explore the Agenda Things To Know & Other Good Reads Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements (Federal Reserve Board of Governors) FDIC Announces Conclusion of Independent Monitorship (FDIC) Modernizing Financial Regulation: Initial Observations from eSLR (Fed Vice Chair for Supervision Michelle Bowman) The Data Version of Godzilla versus Kong: FRED Takes on AI (Fed Governor Christopher Waller) Financing the AI buildout (Brookings) Q3’26: Rules for Banks but Not for Crypto (Fintech Takes Banking) The Inevitability of Local Stablecoins (Lombard Notes) Delusions of AI Governance: The Human-in-the-Loop Comfort Blanket (Fintech Snark Tank) Stripe agrees to acquire Parafin to expand revenue opportunities for platforms and help small businesses grow (Stripe) Listen: Fighting Fraud in the Age of AI, with SEON’s Tamas Kadar (Fintech Business Weekly) How Americans’ Financial Health Is Faring In The “K-Shaped” Economy If there is one overarching theme across the economy and politics in the U.S. at the moment, it’s “affordability.” The term is vague enough to encompass a panoply of factors shaping Americans’ day-to-day lives: rising costs for the hallmarks of being “middle class,” including healthcare, housing, childcare, and education, inflation and rising interest rates, and a job market with the specter of AI hovering over it. At the same time, policy shifts under the Trump administration have resulted in reduced subsidies to those who get health insurance under the Affordable Care Act and new restrictions on qualifying for Medicaid and SNAP, the impacts of which have yet to be fully felt. These factors are contributing to declining consumer confidence and general dissatisfaction with the economy, despite continuing GDP growth and stock market records. This divergence is encapsulated in the idea of the “K-shaped” economy, in which a small proportion of Americans have seen their wealth balloon, while the majority of American households struggle to preserve the lifestyle they have. Perhaps the greatest determinant of which branch of the “K” a household is on is whether their wealth and income are primarily derived from employment vs. from assets. Nearly two decades of low interest rates and, more recently, elevated rates of inflation have benefited asset owners, while those whose income is primarily or solely derived from labor have largely seen real purchasing power stagnate or decline. This is reflected in recent Bureau of Labor Statistics data showing that labor share of U.S. GDP — the fraction of economic output that accrues to workers as compensation in exchange for their labor — dropped to just 52.8% in Q2 2026, the lowest since the BLS began keeping records. In 1947, approximately 2/3rds of economic output accrued to workers; even as recently as 2001, labor’s share of GDP was 64.1%. Against this backdrop, we’ve seen the rise of more credit and credit-like products: cash advance apps, “no-fee” overdraft, earned wage access, and buy now pay later, which are often used as small-dollar short-term borrowing mechanisms to meet immediate consumption needs or pay other bills (eg utilities, cell phone, other debt payments). With the markers of a middle class existence and, increasingly, basic financial stability seemingly out of reach for many, it should be no surprise there’s been an increase in “financial nihilism,” something industry peers like Alex Johnson and Frank Rotman have discussed and analyzed the roots of. The explosion of gambling and gambling-adjacent products and services — often marketed under the guise of being an “investment” — is inextricably intertwined with the rise of financial nihilism. Crypto, sports betting, and, more recently, prediction markets offer an escape or even hope of sorts, like a contemporary, digital version of a scratch-off lottery ticket, while leaving the overwhelming number of people who use such products worse off. Share of Households That Are Financially “Vulnerable” Ticks Up The Financial Health Network’s 2026 Financial Health Pulse® report adds context on how American households are faring. (I linked to this report in last week’s newsletter, but wanted to take time to further unpack the data in the report this week.) The Financial Health Network publishes the report annually, providing insight into how Americans’ financial circumstances are changing over time. The 2026 report is derived from a survey fielded in April and May 2026. The report leverages survey responses to assess indicators of financial health across spending, saving, borrowing, and planning/protecting and to determine a zero to 100 “FinHealth” score. Those with scores between 0 and 39 are considered “Financially Vulnerable,” consumers with scores ranging between 40 and 79 are defined as “Financially Coping,” and those with scores of 80 to 100 are “Financially Healthy.” The report found that moderate improvements in 2025 were reversed, with the share of respondents considered financially “vulnerable” rebounding to 17%. The longitudinal data reflect the impact of pandemic-era programs, like expanded unemployment, cash stimulus payments, and pauses of federal student loan payments. The positive impacts of those programs, as reflected in the Financial Health Pulse reports, had largely disappeared by 2023. While pandemic-era inflation — to be fair, in part caused by the various support and stimulus measures — had come down from as high as 9% in 2022, it has rebounded since the start of Trump’s second term, with tariffs and energy market disruptions owing to the war in Iran pushing prices back up. Specific indicators in the survey that deteriorated from 2025 to 2026 include the share of respondents spending less than their income over the past 12 months, the share paying all bills on time over the past 12 months, the share that have a manageable amount or no debt, the share that are “moderately” or “very” confident their insurance is adequate to cover them in an emergency, and the share that “somewhat” or “strongly” agree that their household plans ahead financially. Unsurprisingly, lower- and moderate-income households are more likely to struggle to pay their bills on time and have any funds leftover to save. The share of low-income households whose income exceeded their spending dropped from 35% in 2025 to 31% in 2026, while the share of upper-income households whose income exceeded expenses remained unchanged at 63%. Households with student loans or revolving credit card debt reported having “a bit more” or “far more” debt than was manageable at rates far higher than those not carrying these types of debts. The share of those with student loan debt indicating their debt load was too high to manage increased from 50% in 2025 to 55% in 2026, while the share of those with revolving credit card debt saying the same ticked up from 51% in 2025 to 54% in 2026. Households that had student loans were markedly more likely to be financially “coping” or “vulnerable” vs. those without student loans. In 2026, 27% of households with student loans were considered financially vulnerable, a jump of 6% points vs. 2025. Households without student loans saw just a 1% point increase (not statistically significant) in those considered financially vulnerable. Households’ perception of the affordability of categories of goods and services paints a stark picture, with less than one-fourth considering higher education affordable, about a third deeming childcare affordable, and less than half viewing healthcare as affordable. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Democratic Senate Report Highlights How Iran Uses Tether to Evade U.S. Sanctions Iran uses stablecoins, specifically Tether, to evade sanctions, fund regional proxies, and to purchase military drones, a report released last week by the Senate Permanent Subcommittee on Investigations says. The report was authored by committee ranking member Senator Richard Blumenthal (D-CT) and the minority staff. Crypto and stablecoin proponents will often push back on criticism that criminals make use of these assets by arguing that, on an absolute dollar basis, far more illicit funds flow through traditional banking systems and payment rails than via crypto and stablecoins. And while that is likely true, it elides the reality presented in news story after news story: whether state actors — Russia, Iran, North Korea — or criminal groups, those looking to engage in illicit transactions increasingly favor stablecoins and, specifically, Tether (USDT). The report from the Senate Permanent Subcommittee on Investigations released last week adds context to how Iran uses Tether has a lynchpin in its shadow banking system. The report analyzed 846 wallets that have been sanctioned or targeted for seizure, finding that 84% of them transacted exclusively or primarily in Tether. The ability to create near limitless, anonymous wallets and to move funds effectively instantaneously and irreversibly have made crypto a favored financial mechanism for bad actors. Stablecoins solved key drawbacks of bitcoin, namely, the original cryptocurrency’s highly volatile value in dollars. And while Tether (the company) has the technical ability to “freeze” or destroy funds, the company is often limited and reactive in its approach to doing so, the Senate report argues. Tether, which is nominally based in crypto-friendly El Salvador, “has stated that its compliance with OFAC sanctions is ‘voluntary’ and that it follows ‘OFAC guidelines,’” the Senate report says. Owing to these favorable attributes, Tether “became a primary cryptocurrency for Iran, Hamas, Hizballah, and the Houthis beginning in 2023 and has expanded in scale since,” according to the report. Tether’s role in Iran’s shadow banking system, the report says, is enhanced by crypto exchanges like Bybit, Kyrrex, OKX, Gate, and Binance, and through “over the counter” exchanges and hawala networks. The consequences of these financial flows aren’t hypothetical. The Senate report links Tether as a funds transfer mechanism to Iranian proxies in the region, including Hizballah, the Houthis, and Hamas. Tether has also been used to make payments to secure components necessary to manufacture drones, the report says. The report concludes by arguing that “[s]tablecoin issuers with a significant nexus to the United States, particularly those that offer dollar-denominated stablecoins, should be subject to American sanctions law rather than being allowed to hide behind foreign jurisdictions.” Stablecoin issuers like Tether must be held accountable for repeated failures to prevent illicit finance and sanctions violations by law enforcement, the Department of Justice, the Securities and Exchange Commission, and OFAC, the report argues. [Paying Subscriber Exclusive] OUSD Goes Live, Make Your Own Neobank, U.S. Sanctions Russia’s A7 Network As “Transnational Criminal Organization” OpenUSD, the stablecoin issued by the Open Standard consortium that includes Stripe, Visa, Mastercard, core providers, crypto firms, and numerous banks, went live last week. Social commerce platform Whop raised eyebrows in fintech by offering creators on its platform the ability to launch their own neobanks, which the company describes as “great businesses that are easy to run,” in just 15 minutes. And OFAC and FinCEN target Russia’s “shadow banking” A7 Network — more on these stories after the paywall.