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3 days ago
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CooperCompanies Announces Second Quarter 2025 Results
SAN RAMON, Calif., May 29, 2025 (GLOBE NEWSWIRE) -- CooperCompanies (Nasdaq: COO), a leading global medical device company, today announced financial results for its fiscal second quarter ended April 30, 2025. Revenue increased 6% year-over-year to $1,002.3 million. CooperVision (CVI) revenue up 5% to $669.6 million, and CooperSurgical (CSI) revenue up 8% to $332.7 million. GAAP diluted earnings per share (EPS) of $0.44, consistent with last year's second quarter. Non-GAAP diluted EPS of $0.96, up $0.11 or 14% from last year's second quarter. See "Reconciliation of Selected GAAP Results to Non-GAAP Results" below. Commenting on the results, Al White, CooperCompanies' President and CEO said, "This was another solid quarter driven by double-digit growth in CooperVision's daily silicone hydrogel portfolio and CooperSurgical's office and surgical portfolio. As we move forward, our teams remain focused on taking share, delivering leverage, launching products and completing capacity expansion projects." Second Quarter Operating Results Revenue of $1,002.3 million, up 6% from last year's second quarter, up 7% in constant currency, up 7% organically. Gross margin of 68% compared with 67% in last year's second quarter driven by efficiency gains and mix. On a non-GAAP basis, gross margin was 68%, up from 67% last year. Operating margin of 18% compared with 17% in last year's second quarter driven by stronger gross margins and targeted expense leverage. On a non-GAAP basis, operating margin was 25%, up from 24% last year. Interest expense of $24.2 million compared with $28.9 million in last year's second quarter driven by lower interest rates and lower average debt. On a non-GAAP basis, interest expense was $23.5 million, down from $27.5 million. Cash provided by operations of $96.2 million offset by capital expenditures of $78.1 million resulted in free cash flow of $18.1 million. Second Quarter CooperVision (CVI) Revenue Revenue of $669.6 million, up 5% from last year's second quarter, up 7% in constant currency, up 7% organically. Revenue by category: % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 Toric and multifocal $ 328.4 6% 1% 7% —% 7% Sphere, other 341.2 5% 1% 6% —% 6% Total $ 669.6 5% 2% 7% —% 7% Revenue by geography: % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 Americas $ 282.4 7% 1% 8% —% 8% EMEA 248.6 5% 1% 6% —% 6% Asia Pacific 138.6 3% 2% 5% —% 5% Total $ 669.6 5% 2% 7% —% 7% Second Quarter CooperSurgical (CSI) Revenue Revenue of $332.7 million, up 8% from last year's second quarter, up 9% in constant currency, up 7% organically. Revenue by category: % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 Office and surgical $ 205.8 13% —% 13% (3)% 10% Fertility 126.9 3% 1% 4% (2)% 2% Total $ 332.7 8% 1% 9% (2)% 7% Other During the second quarter of fiscal 2025, the company repurchased $40.6 million of common stock, roughly 537.2 thousand shares, under the existing share repurchase program at an average share price of $75.60. The program has $215.8 million of remaining availability. Fiscal Year 2025 Financial Guidance The Company updated its fiscal year 2025 financial guidance. Details are summarized as follows: Fiscal 2025 total revenue of $4,107 - $4,146 million (organic growth of 5% to 6%) CVI revenue of $2,759 - $2,786 million (organic growth of 6% to 7%) CSI revenue of $1,347 - $1,359 million (organic growth of 3.5% to 4.5%) Fiscal 2025 non-GAAP diluted EPS of $4.05 - $4.11 Non-GAAP diluted earnings per share guidance excludes amortization and impairment of intangible assets, and certain income or gains and charges or expenses including acquisition and integration costs which we may incur as part of our continuing operations. With respect to the Company's guidance expectations, the Company has not reconciled non-GAAP diluted earnings per share guidance to GAAP diluted earnings per share due to the inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses, which are reconciling items between the non-GAAP and GAAP measure. Due to the unknown effect, timing and potential significance of such charges and expenses that impact GAAP diluted earnings per share, the Company is not able to provide such guidance. Reconciliation of Selected GAAP Results to Non-GAAP Results To supplement our financial results and guidance presented on a GAAP basis, we provide non-GAAP measures such as non-GAAP gross margin, non-GAAP operating margin, non-GAAP diluted earnings per share, as well as constant currency and organic revenue growth because we believe they are helpful for the investors to understand our consolidated operating results. Management uses supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, to make operating decisions, and to plan and forecast for future periods. The non-GAAP measures exclude costs which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. We provide further details of the non-GAAP adjustments made to arrive at our non-GAAP measures in the GAAP to non-GAAP reconciliations below. Our non-GAAP financial results and guidance are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. To present constant currency revenue growth, current period revenue for entities reporting in currencies other than the United States dollar are converted into United States dollars at the average foreign exchange rates for the corresponding period in the prior year. To present organic revenue growth, we excluded the effect of foreign currency fluctuations and the impact of any acquisitions, divestitures and discontinuations that occurred in the comparable period. We define the non-GAAP measure of free cash flow as cash provided by operating activities less capital expenditures. We believe free cash flow is useful for investors as an additional measure of liquidity because it represents cash that is available to grow the business, make strategic acquisitions, repay debt, or buyback common stock. Management uses free cash flow internally to understand, manage, make operating decisions and evaluate our business. In addition, we use free cash flow to help plan and forecast future periods. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. THE COOPER COMPANIES, INC. AND SUBSIDIARIES GAAP to Non-GAAP ReconciliationGross Margin, Operating Margin, and EPS Three Months Ended April 30, Six Months Ended April 30, (In millions) 2025 Margin % 2024 Margin % 2025 Margin % 2024 Margin % GAAP Gross Profit $ 679.1 68 % $ 631.2 67 % $ 1,339.3 68 % $ 1,255.0 67 % Acquisition and integration-related charges(1) 2.1 — % 0.4 — % 3.8 — % 1.2 — % Exit of business(2) — — % 0.4 — % — — % 0.5 — % Medical device regulations(3) 0.7 — % 0.7 — % 1.3 — % 1.7 — % Business optimization charges(4) — — % 1.7 — % — — % 3.3 — % Total 2.8 — % 3.2 — % 5.1 — % 6.7 — % Non-GAAP Gross Profit $ 681.9 68 % $ 634.4 67 % $ 1,344.4 68 % $ 1,261.7 67 % Three Months Ended April 30, Six Months Ended April 30, (In millions) 2025 Margin % 2024 Margin % 2025 Margin % 2024 Margin % GAAP Operating Income $ 184.8 18 % $ 161.7 17 % $ 366.8 19 % $ 314.8 17 % Amortization of acquired intangibles 49.8 5 % 50.3 5 % 99.4 5 % 100.6 5 % Acquisition and integration-related charges (1) 9.6 1 % 1.8 — % 13.9 1 % 12.3 1 % Exit of business (2) — — % 1.1 — % — — % 1.5 — % Medical device regulations (3) 5.3 1 % 5.0 1 % 10.7 1 % 10.2 1 % Business optimization charges (4) — — % 4.2 1 % — — % 11.0 — % Other (5) — — % 0.7 — % 0.6 — % 1.5 — % Total 64.7 7 % 63.1 7 % 124.6 7 % $ 137.1 7 % Non-GAAP Operating Income $ 249.5 25 % $ 224.8 24 % $ 491.4 26 % $ 451.9 24 % Three Months Ended April 30, Six Months Ended April 30, (In millions, except per share amounts) 2025 EPS 2024 EPS 2025 EPS 2024 EPS GAAP Net Income $ 87.7 $ 0.44 $ 88.9 $ 0.44 $ 192.0 $ 0.96 $ 170.1 $ 0.85 Amortization of acquired intangibles 49.8 0.24 50.3 0.25 99.4 0.49 100.6 0.50 Acquisition and integration-related charges(1) 9.6 0.05 1.8 0.01 13.9 0.07 12.3 0.06 Exit of business(2) — — 1.1 0.01 — — 1.5 0.01 Medical device regulations(3) 5.3 0.02 5.0 0.03 10.7 0.05 10.2 0.06 Business optimization charges(4) — — 4.2 0.02 — — 11.0 0.04 Other(5) 17.4 0.09 3.6 0.02 19.9 0.10 7.2 0.04 Tax effects related to the above items (11.1 ) (0.06 ) (14.1 ) (0.07 ) (25.8 ) (0.13 ) (33.9 ) (0.17 ) Intra-entity asset transfers(6) 34.8 0.18 28.7 0.14 67.8 0.34 61.1 0.31 Total 105.8 0.52 80.6 0.41 185.9 0.92 170.0 0.85 Non-GAAP Net Income $ 193.5 $ 0.96 $ 169.5 $ 0.85 $ 377.9 $ 1.88 $ 340.1 $ 1.70 Weighted average diluted shares used 200.7 200.5 200.9 200.2 EPS, amounts and percentages may not sum or recalculate due to rounding. (1) Charges include the direct effects of acquisition accounting, such as amortization of inventory fair value step-up, professional services fees, regulatory fees and changes in fair value of contingent considerations, and items related to integrating acquired businesses, such as redundant personnel costs for transitional employees, acquisition-related non-cash cumulative true up adjustments reflecting changes in compensation, other acquired employee related costs, and integration-related professional services, manufacturing integration costs, legal entity and facility rationalization and other integration-related activities. The acquisition and integration-related charges in fiscal 2025 were primarily related to the obp Surgical and the Cook Medical acquisition and integration expenses. The acquisition and integration-related charges in fiscal 2024 were primarily related to the Cook Medical acquisition and integration expenses. Charges included $3.5 million and $4.8 million related to redundant personnel costs for transitional employees, $1.1 million and $2.4 million of professional services fees, $1.2 million and $2.1 million of inventory fair value step-up amortization, $1.1 million and $1.8 million of facility rationalization costs, and $0.3 million and $0.4 million of other acquisition and integration-related activities in the three and six months ended April 30, 2025. The three months ended April 30, 2025 also included $2.4 million of acquisition-related non-cash cumulative true-up adjustments reflecting changes in compensation. Charges included $0.9 million and $4.9 million related to redundant personnel costs for transitional employees, $0.6 million and $3.7 million of professional services fees, $0.1 million and $0.8 million of manufacturing integration costs, and $0.2 million and $2.9 million of other acquisition and integration-related activities in the three and six months ended April 30, 2024. (2) Charges include costs related to product line exits such as inventory write-offs, site closure costs, contract termination costs and specifically-identified long-lived asset write-offs. There were no exit of business charges in the three and six months ended April 30, 2025. Charges included $0.9 million and $0.9 million of write-offs of long-lived assets, $0.2 million and $0.6 million of other costs related to product line exits in the three and six months ended April 30, 2024. (3) Charges represent incremental costs of complying with the new European Union (E.U.) medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be limited to a specific time period. (4) Charges represent the costs associated with initiatives to increase efficiencies across the organization and optimize our overall cost structure, including changes to our IT infrastructure and operations, employee severance costs, legal entity and other business reorganizations, write-offs or impairments of certain long-lived assets associated with the business optimization activities. There were no business optimization charges in the three and six months ended April 30, 2025. Charges included $2.1 million and $8.1 million of employee severance costs, $1.0 million $1.3 million related to changes to our IT infrastructure and operations, and $1.1 million and $1.6 million of legal entity and other business reorganizations costs in the three and six months ended April 30, 2024. (5) Charges include certain business disruptions from natural causes, litigation matters and other items that are not part of ordinary operations. The adjustments to arrive at non-GAAP net income also include gains and losses on minority interest investments and accretion of interest attributable to acquisition installment payables. Charges in the three months ended April 30, 2025 included $16.7 million of gains and losses on minority interest investments, of which $15.7 million was related to loss on disposal of a minority interest investment, and $0.7 million of accretion of interest attributable to acquisition installment payables. Charges in the six months ended April 30, 2025 included $17.9 million of gains and losses on a minority interest investment, $1.4 million of accretion of interest attributable to acquisition installment payables, and $0.6 million legal fees. Charges included $1.5 million and $2.9 million of gains and losses on minority interest investments, $1.3 million and $2.7 million of accretion of interest attributable to acquisition installment payables, and $0.8 million and $1.6 million related to legal matters in the three and six months ended April 30, 2024. (6) In fiscal 2021, the Company transferred its CooperVision intellectual property and goodwill to its UK subsidiary. As a result, we recorded a deferred tax asset equal to approximately $2.0 billion as a one-time tax benefit in accordance with U.S. GAAP in fiscal 2021 as subsequently adjusted for changes in UK tax law. The non-GAAP adjustments reflect the ongoing net deferred tax benefit from tax amortization each period under UK tax law. Audio Webcast and Conference Call The Company will host an audio webcast today for the public, investors, analysts and news media to discuss its second quarter results and current corporate developments. The audio webcast will be broadcast live on CooperCompanies' website, at approximately 5:00 PM ET. It will also be available for replay on CooperCompanies' website, Alternatively, you can dial in to the conference call at 800-715-9871; conference ID 1515103. About CooperCompanies CooperCompanies (Nasdaq: COO) is a leading global medical device company focused on helping people experience life's beautiful moments through its two business units, CooperVision and CooperSurgical. CooperVision is a trusted leader in the contact lens industry, helping to improve the way people see each day. CooperSurgical is a leading fertility and women's healthcare company dedicated to putting time on the side of women, babies, and families at the healthcare moments that matter most. Headquartered in San Ramon, CA, CooperCompanies has a workforce of more than 16,000, sells products in over 130 countries, and positively impacts over fifty million lives each year. For more information, please visit Forward-Looking Statements This earnings release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Statements relating to guidance, plans, prospects, goals, strategies, future actions, events or performance and other statements of which are other than statements of historical fact, including our fiscal year 2025 financial guidance, are forward looking. In addition, all statements regarding anticipated growth in our revenues, anticipated effects of any product recalls, anticipated market conditions, planned product launches, restructuring or business transition expectations, regulatory plans, and expected results of operations and integration of any acquisition are forward-looking. To identify these statements look for words like "believes," "outlook," "probable," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates" or "anticipates" and similar words or phrases. Forward-looking statements necessarily depend on assumptions, data or methods that may be incorrect or imprecise and are subject to risks and uncertainties. Among the factors that could cause our actual results and future actions to differ materially from those described in forward-looking statements are: adverse changes in the global or regional general business, political and economic conditions including the impact of continuing uncertainty and instability of certain countries, man-made or natural disasters and pandemic conditions, that could adversely affect our global markets, and the potential adverse economic impact and related uncertainty caused by these items; the impact of international conflicts and the global response to international conflicts on the global and local economy, financial markets, energy markets, currency rates and our ability to supply product to, or through, affected countries; our substantial and expanding international operations and the challenges of managing an organization spread throughout multiple countries and complying with a variety of legal, compliance and regulatory requirements; the actual imposition or threats of tariffs, customs duties and fees by the U.S. government and other nations in response and other retaliatory actions, such as trade protection measures, import or export licensing requirements, new or different customs duties, trade embargoes and sanctions and other trade barriers, as well as the impact of the Company's efforts to mitigate the effect of such tariffs; foreign currency exchange rate and interest rate fluctuations including the risk of fluctuations in the value of foreign currencies or interest rates that would decrease our net sales and earnings; our existing and future variable rate indebtedness and associated interest expense is impacted by rate increases, which could adversely affect our financial health or limit our ability to borrow additional funds; changes in tax laws, examinations by tax authorities, and changes in our geographic composition of income; acquisition-related adverse effects including the failure to successfully achieve the anticipated net sales, margins and earnings benefits of acquisitions, integration delays or costs and the requirement to record significant adjustments to the preliminary fair value of assets acquired and liabilities assumed within the measurement period, required regulatory approvals for an acquisition not being obtained or being delayed or subject to conditions that are not anticipated, adverse impacts of changes to accounting controls and reporting procedures, contingent liabilities or indemnification obligations, increased leverage and lack of access to available financing (including financing for the acquisition or refinancing of debt owed by us on a timely basis and on reasonable terms); compliance costs and potential liability in connection with U.S. and foreign laws and health care regulations pertaining to privacy and security of personal information such as the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and the California Consumer Privacy Act (CCPA) in the U.S. and the General Data Protection Regulation (GDPR) requirements in Europe, including but not limited to those resulting from data security breaches; a major disruption in the operations of our manufacturing, accounting and financial reporting, research and development, distribution facilities or raw material supply chain due to challenges associated with integration of acquisitions, man-made or natural disasters, pandemic conditions, cybersecurity incidents or other causes; a major disruption in the operations of our manufacturing, accounting and financial reporting, research and development or distribution facilities due to the failure to perform by third-party vendors, including cloud computing providers or other technological problems, including any related to our information systems maintenance, enhancements or new system deployments, integrations or upgrades; a successful cybersecurity attack which could interrupt or disrupt our information technology systems, or those of our third-party service providers, or cause the loss of confidential or protected data; market consolidation of large customers globally through mergers or acquisitions resulting in a larger proportion or concentration of our business being derived from fewer customers; disruptions in supplies of raw materials, particularly components used to manufacture our silicone hydrogel lenses; new U.S. and foreign government laws and regulations, and changes in existing laws, regulations and enforcement guidance, which affect areas of our operations including, but not limited to, those affecting the health care industry, including the contact lens industry specifically and the medical device or pharmaceutical industries generally, including but not limited to the EU Medical Devices Regulation (MDR), and the EU In Vitro Diagnostic Medical Devices Regulation (IVDR); legal costs, insurance expenses, settlement costs and the risk of an adverse decision, prohibitive injunction or settlement related to product liability, patent infringement, contractual disputes, or other litigation; limitations on sales following product introductions due to poor market acceptance; new competitors, product innovations or technologies, including but not limited to, technological advances by competitors, new products and patents attained by competitors, and competitors' expansion through acquisitions; reduced sales, loss of customers, reputational harm and costs and expenses, including from claims and litigation related to product recalls and warning letters; failure to receive, or delays in receiving, regulatory approvals or certifications for products; failure of our customers and end users to obtain adequate coverage and reimbursement from third-party payers for our products and services; the requirement to provide for a significant liability or to write off, or accelerate depreciation on, a significant asset, including goodwill, other intangible assets and idle manufacturing facilities and equipment; the success of our research and development activities and other start-up projects; dilution to earnings per share from acquisitions or issuing stock; impact and costs incurred from changes in accounting standards and policies; risks related to environmental laws and requirements applicable to our facilities, products or manufacturing processes, including evolving regulations regarding the use of hazardous substances or chemicals in our products; risks related to environmental, social and corporate governance (ESG) issues, including those related to regulatory and disclosure requirements, climate change and sustainability; and other events described in our Securities and Exchange Commission filings, including the 'Business', 'Risk Factors' and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2024, as such Risk Factors may be updated in annual and quarterly filings. We caution investors that forward-looking statements reflect our analysis only on their stated date. We disclaim any intent to update them except as required by law. Contact: Kim DuncanVice President, Investor Relations and Risk Management925-460-3663ir@ COOPER COMPANIES, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets(In millions)(Unaudited) April 30, 2025 October 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 116.2 $ 107.6 Trade receivables, net 780.9 717.0 Inventories 880.3 802.7 Prepaid expense and other current assets 348.3 324.2 Total current assets 2,125.7 1,951.5 Property, plant and equipment, net 1,928.5 1,863.4 Goodwill 3,864.7 3,838.4 Other intangibles, net 1,694.0 1,791.0 Deferred tax assets 2,141.7 2,210.3 Other assets 659.0 660.6 Total assets $ 12,413.6 $ 12,315.2 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term debt $ 59.8 $ 33.3 Accounts Payable 244.2 260.5 Employee compensation and benefits 157.1 174.8 Deferred revenue 127.6 129.9 Other current liabilities 423.8 424.3 Total current liabilities 1,012.5 1,022.8 Long-term debt 2,525.6 2,550.4 Deferred tax liabilities 99.1 96.0 Long-term tax payable 17.7 57.5 Deferred revenue 196.4 193.3 Other liabilities 274.2 311.6 Total liabilities 4,125.5 4,231.6 Stockholders' equity 8,288.1 8,083.6 Total liabilities and stockholders' equity $ 12,413.6 $ 12,315.2 THE COOPER COMPANIES, INC. AND SUBSIDIARIES Consolidated Statements of Income(In millions, except per share amounts)(Unaudited) Three Months EndedApril 30, Six Months EndedApril 30, 2025 2024 2025 2024 Net sales $ 1,002.3 $ 942.6 $ 1,967.0 $ 1,874.2 Cost of sales 323.2 311.4 627.7 619.2 Gross profit 679.1 631.2 1,339.3 1,255.0 Selling, general and administrative expense 399.0 380.3 786.9 761.2 Research and development expense 45.5 38.9 86.2 78.4 Amortization of intangibles 49.8 50.3 99.4 100.6 Operating income 184.8 161.7 366.8 314.8 Interest expense 24.2 28.9 50.2 58.8 Other expense, net 16.1 2.8 18.8 6.0 Income before income taxes 144.5 130.0 297.8 250.0 Provision for income taxes 56.8 41.1 105.8 79.9 Net income $ 87.7 $ 88.9 $ 192.0 $ 170.1 Earnings per share - diluted $ 0.44 $ 0.44 $ 0.96 $ 0.85 Number of shares used to compute diluted earnings per share 200.7 200.5 $ 200.9 200.2 THE COOPER COMPANIES, INC. AND SUBSIDIARIES GAAP to Non-GAAP ReconciliationConstant Currency Revenue Growth and Organic Revenue Growth Net Sales % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 CooperVision $ 669.6 5 % 2 % 7 % — % 7 % CooperSurgical 332.7 8 % 1 % 9 % (2) % 7 % Total $ 1,002.3 6 % 1 % 7 % — % 7 %Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
20-05-2025
- National Post
SD Memory Cards Celebrates 25 Years as the World's Favorite Memory Card
Article content SDA celebrates 20 th Anniversary of microSD, donates to plant trees, empower women, remains dedicated to its legacy of innovation contributing to the advancement of technology for the convenience, enjoyment, and well-being of consumers Article content Article content SAN RAMON, Calif. — SD Association (SDA) is celebrating the 25 th anniversary of the venerable SD memory card launched in 2000 and its long history of improving the lives of billions of people globally in numerous ways. Throughout the last 25 years, SD and microSD memory cards have sold more than 12 billion cards and evolved by offering massive storage capacities and lightning fast speeds, meeting industry needs. SD memory cards remain the most used removable storage card for consumer electronic devices. Throughout the last 25 years, SD and microSD memory cards have sold more than 12 billion cards and evolved by offering massive storage capacities and lightning fast speeds, meeting industry needs for today and tomorrow. Article content This year, the SDA is celebrating another significant milestone, the 20 th anniversary of the ground-breaking microSD. microSD memory cards remain a powerful and popular storage choice and played a pivotal role in transforming the mobile industry as the first storage expansion option for billions of mobile phones. Selfies, mobile phone photography, enjoying music and videos on a mobile phone all became possible because of innovation driven by the SDA. Today, SD memory cards remain a valued part of the consumer and industrial products, allowing people to download and enjoy content from the world's most popular video streaming services, store games and run apps directly from a card, and use those cards as an efficient memory expansion of their products. Article content To honor the support SD technology customers worldwide overwhelmingly provided SD during the past 25 years, the SDA contributed to OneTreePlanted and the Morino Project, expediting the planting of 25,000 trees around the world to help fight climate change and benefit the planet. It also contributed $25,000 to the Audiopedia Foundation to support its efforts to empower African women through preloading audio content onto microSD memory cards allowing the most basic mobile phones to become portals of empowerment, turning isolated communities into connected hubs of health, financial, and educational information. Article content Some of the most advanced gaming consoles and handheld gaming devices rely on SD memory cards for storage expansion. This storage feature allows players to easily upgrade their devices and maintain a broad portfolio of their favorite digital games while optimizing their user experience. Article content 'SD memory cards continue delivering portability and convenience, letting people upgrade the storage in their devices at any time thanks to the dedication and vision of our nearly 800 SDA members,' said Yosi Pinto, Chairman of the SDA. 'The cards continue to help product manufacturers innovate and provide better user experience because SD is a proven storage solution that continuously evolves with technology evolutions and market needs requiring higher speed data access and larger capacities.' Article content Progress & Innovation: SD Memory Card Statistics Article content The first SD card sold in 2000 provided just 8 megabytes of storage capacity, whereas today's SDUC or microSDUC cards offer 4 terabytes of capacity, a 500,000 percent capacity increase Boosted card speeds specifications from 12.5 MB/sec to ~4GB/sec with the latest SD Express specification, more than x300 speed increase Maintained backward compatibility support with plug-and-play convenience Article content 'The SDA is laser-focused on ensuring its standards remain a compelling storage choice across an extensive variety of products and uses for both consumers and businesses,' said Hiroyuki Sakamoto, President of the SDA. 'We expect SD memory cards to remain a critical, cost-effective storage option across a variety of applications and devices in the future since 394 zettabytes of data is expected to be created by 2028.' Article content SD enables new applications with unique storage requirements not imagined 25 years ago. VR/AR, drones, gaming consoles, medical devices, 360-degree cameras, nature monitoring, IoT, Edge computing and space exploration increasingly rely on SD. With the growth of AI, storage needs are expected to increase on devices and will require SD Express memory cards and their SSD-level performance and features. Article content The SDA is a global ecosystem of nearly 800 technology companies charged with setting interoperable SD standards. The SDA encourages the development of consumer electronics, wireless communication, digital imaging, industrial and networking products utilizing market-leading SD technology. The SD standard is the number one choice for consumers and businesses, having earned more than 80 percent of the memory card market with its reliable interoperability and easy-to-use format. Today, smartphones, tablets, drones, IoT devices, HDTVs, audio players, automotive systems, computers, digital cameras, and a variety of industrial uses feature SD interoperability. For more information about SDA or to join, please visit the Association's website, Article content Article content Article content Article content Contacts Article content Article content Article content
