ASEAN shall develop friendly relations and mutually beneficial dialogues, cooperation and partnerships with countries and sub-regional, regional and international organisations and institutions. This includes external partners, ASEAN entities, human rights bodies, non-ASEAN Member States Ambassadors to ASEAN, ASEAN committees in third countries and international organisations, as well as international / regional organisations.
How three chief strategy officers are responding by Adi Ignatius
March 4, 2026
Strategy has never been more visible—or more volatile. In this candid conversation, three chief strategy leaders—Sherry Sanger from Penske Transportation Solutions; Jennifer Moll from DTEX Systems; and Maran Nalluswami from Synchrony—talk to HBR editor at large Adi Ignaitus about how they’re crafting strategy when AI, supply-chain disruption, and shifting consumer behavior can quickly upend the best-made plans.
HONG KONG, March 4, 2026 /PRNewswire/ — Akeso, Inc. (9926.HK) (“Akeso” or the “Company”) announced that the latest long-term survival analysis data from the China pivotal registrational Phase II study (COMPASSION-03/AK104-201) of cadonilimab as a monotherapy for patients with recurrent or metastatic cervical cancer (R/M CC) who have failed prior platinum-containing chemotherapy, were presented in a late-breaking oral presentation by Professor Wu Xiaohua from Fudan University Shanghai Cancer Center, the Principal Investigator, at the 27th European Congress on Gynaecological Oncology (ESGO 2026).
The long-term survival data of cadonilimab monotherapy in this patient population confirms cadonilimab’s ability to convert deep tumor remission into long-term disease control and survival benefits. This study provides clinically meaningful evidence to support its use in the treatment of advanced cervical cancer, offering patients a new therapeutic option that significantly improves survival outcomes.
Best Overall Response (BOR) Analysis Demonstrates Remarkable Survival Benefit
In the updated data presented at the ESGO Congress, with a median follow-up duration of 26.5 months, a BOR-stratified analysis was conducted in all 99 efficacy-evaluable patients. This analysis further quantified the strong correlation between the depth of tumor response and long-term survival benefit associated with cadonilimab treatment.
Among all subjects who achieved a complete response (CR), the median overall survival (OS) was not reached (NR), with a 24-month OS rate of up to 100.0% (nominal p = 0.0002). The median progression-free survival (PFS) was also not reached, with a 12-month PFS rate of 84.6% (nominal p < 0.0001).
In patients achieving partial response (PR), the median OS remained unreached (NR), with a 24-month OS rate of 63% (nominal p = 0.0002). The median PFS was 11.17 months, and the 12-month PFS rate was 47.3% (nominal p < 0.0001).
The median time to response (mTTR) in the CR patients was 1.84 months, comparable to that observed in the PR patients (1.87 months). The median duration of response (mDoR) in the CR patients was not reached and was significantly longer than that in the PR patients (nominal p = 0.035).
Cadonilimab Provides Sustained Long-Term Survival Benefit Irrespective of PD-L1 Expression Status
The COMPASSION-03 study enrolled more than 18% of patients with PD-L1 CPS < 1, and 36% of participants had received ≥2 prior lines of systemic therapy. Study findings demonstrated that cadonilimab monotherapy achieved a median OS of 17.5 months (11.4, NE).
Updated long-term follow-up data showed durable survival benefit across the overall population, including both PD-L1 positive and PD-L1 negative patients, with 18-month and 24-month OS rates of 47.8% and 40.9%, respectively.
The Rising Value of a Foundational IO 2.0 Backbone
Cadonilimab, the world’s first approved cancer immunotherapy bispecific antibody that was commercially launched in 2022, has demonstrated its breakthrough clinical value across a large number of approved indications and Phase III trials. Cadonilimab addresses critical clinical gaps by benefiting cancer patients across all levels of PD-L1 expressions, earning strong recognition from clinicians and patients. Importantly, cadonilimab shows superior efficacy versus current standard of care in challenging settings like immunotherapy-resistant tumors and cold tumors that had limited response to PD-1/L1 agents.
This differentiated profile stems from its dual targeting of PD-1 and CTLA-4 with synergistic anti-tumor activity. This novel mechanism preserves the therapeutic benefits of both targets while overcoming their individual limitations. Specifically, the toxicity that restricts the clinical utility of current CTLA-4 monotherapy agents, and the poor response to PD-1/L1 agents in PD-L1 low/negative populations.
Cadonilimab is now approved for three indications in China: first-line gastric cancer, first-line cervical cancer, and recurrent/metastatic cervical cancer. It is under evaluation in 11 registrational/Phase III studies across major first-line tumor indications, various cold tumors, and IO-resistant settings, including a global Phase III trial in first-line gastric cancer and a global registrational trial in IO-resistant hepatocellular carcinoma.
While advancing cadonilimab’s global clinical development independently, Akeso remains committed to open collaboration, integrating premier worldwide resources to accelerate international market access and benefit cancer patients worldwide.
About Akeso
Akeso (HKEX: 9926.HK) is a leading biopharmaceutical company committed to the research, development, manufacturing and commercialization of the world’s first or best-in-class innovative biological medicines. Founded in 2012, the company has established a robust R&D innovation ecosystem centered on its proprietary Tetrabody bispecific antibody platform, ADC (Antibody-Drug Conjugate) technologies, siRNA/mRNA modalities, and cell therapies. Supported by a global-standard GMP manufacturing infrastructure and a highly efficient, integrated commercialization model, the company has evolved into a globally competitive biopharmaceutical focused on innovative solutions. With fully integrated multi-functional platform, Akeso is internally working on a robust pipeline of over 50 innovative assets in the fields of cancer, autoimmune disease, inflammation, metabolic disease and other major diseases. Among them, 26 candidates have entered clinical trials (including 15 bispecific/multispecific antibodies and bispecific ADCs. Additionally, 7 new drugs are commercially available. Through efficient and breakthrough R&D innovation, Akeso always integrates superior global resources, develops the first-in-class and best-in-class new drugs, provides affordable therapeutic antibodies for patients worldwide, and continuously creates more commercial and social values to become a global leading biopharmaceutical enterprise.
Forward-Looking Statements
This announcement by Akeso, Inc. (9926.HK, “Akeso”) contains “forward-looking statements”. These statements reflect the current beliefs and expectations of Akeso’s management and are subject to significant risks and uncertainties. These statements are not intended to form the basis of any investment decision or any decision to purchase securities of Akeso. There can be no assurance that the drug candidate(s) indicated in this announcement or Akeso’s other pipeline candidates will obtain the required regulatory approvals or achieve commercial success. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in P.R.China, the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; Akeso’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the Akeso’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
Akeso does not undertake any obligation to publicly revise these forward-looking statements to reflect events or circumstances after the date hereof, except as required by law.
Physical AI systems, which sense and act in the real-world, are expected to be predominantly uplink-driven, with most traffic originating from sensors, cameras, and other upstream data sources. This will make latency paramount.
Physical AI, where artificial intelligence powers physical machines, is the third part of the AI puzzle. This has the potential to make latency for AI bigger than an organization’s latency budget and drives a need to run AI workloads at the edge. The upshot of this is that areas with large amounts of AI-driven robotics – like industrial sites – will need to juggle workloads onsite and offsite.
Physical AI will likely run in parallel with other types of AI. Automated delivery robots, for example, are already operating in some US cities and can be used to provide allergy advice on takeout orders delivered to your doorstep. These sidewalk carts can therefore utilize all three types of AI and offer a glimpse into our connected future.
Traders work in the S&P options pit at open of trading at the Cboe Global Markets exchange on March 04, 2026 in Chicago, Illinois. I
Scott Olson | Getty Images
Stock futures were little changed Wednesday night after major averages closed higher in the previous session, as investor jitters around the U.S.-Iran war eased.
Futures tied to the Dow Jones Industrial Average lost 16 points, or 0.03%. S&P 500 futures and Nasdaq 100 futures each rose roughly 0.1%.
Stocks rebounded in Wednesday’s regular session, buoyed by gains in technology and semiconductor giants. The Dow jumped about 238 points, or 0.5%, ending a three-day losing run. The S&P 500 closed up 0.8%, while the tech-heavy Nasdaq Composite gained 1.3%.
Nvidia shares rose more than 1%. Chipmakers Broadcom, Micron Technology, Advanced Micro Devices and Intel also notched gains. Consumer staples, energy and materials were the only S&P 500 sectors that posted losses on the day.
“Things are changing around the edges. We have a geopolitical shock, obviously, and we’re still parsing that in terms of how it could impact the risk premium for equities,” said Bank of America Securities head of U.S. equity and quantitative strategy Savita Subramanian on CNBC’s “Closing Bell: Overtime.”
“But beyond that, I think what we’re seeing is the tide slowly going out for some of the beneficiaries of a very low interest rate environment,” she added.
Oil prices stabilized on Wednesday after this week’s surge, with U.S. West Texas Intermediate crude futures settling up 0.13% and international benchmark Brent crude oil futures ending the session at the flatline.
Fears of disruption to regional oil and gas supplies subsided after President Donald Trump said on Tuesday that the U.S. is preparing to provide risk insurance and escorts to ships in the Persian Gulf in an effort to ensure traffic can move through the Strait of Hormuz. To be sure, the White House would not provide a timeline for when the strait, which is responsible for roughly 20% of the world’s oil supply, will be safe for oil tankers.
Defense Secretary Pete Hegseth said Wednesday in a briefing with reporters that the U.S. is “winning decisively” in its conflict with Iran and that more forces are arriving to the region.
Separately, Treasury Secretary Scott Bessent said on Wednesday that Trump’s recently announced 15% global tariff will likely go into effect this week.
Investors are awaiting earnings results due Thursday morning from retailers Kroger, Burlington and BJ’s Wholesale. Costco and Marvell Technology will report results after market close.
On the economic front, weekly jobless claims are also due Thursday.
The COVID-19 pandemic has profoundly affected the world and our daily lives [-]. In response to the COVID-19 outbreaks, the Chinese government had taken a range of actions, including temporary hospitals, lockdown, and quarantine [,]. However, these strict control measures inevitably disrupted conventional outpatient services, especially for patients with mental disorders []. Specifically, patients with chronic mental illness generally require long-term medication and regular medical assistance, and lockdown can cause difficulties in obtaining drugs and even the danger of discontinuation [-]. In addition, patients with long-term serious mental illness are often physically or socially disadvantaged, and COVID-19 highlighted these preexisting differences [-]. Finally, it has been reported that the global prevalence of mental health problems, such as loneliness, panic, anxiety, and depression, has increased significantly since the outbreak of the COVID-19 pandemic [,]. Hence, in order to meet the challenges of patients’ medical needs, and in line with the recommendation of the World Health Organization to strengthen the digitalization of health systems, online medical services have developed rapidly worldwide [-]. The National Health Commission of China has also promoted the establishment of internet-based hospitals and timely translated into emergency control measures of COVID-19 [,]. Internet-based hospitals in China have been reported to grow rapidly from approximately 1600 in June 2021 to over 3000 by June 2023 [], demonstrating the growing importance of this online service model.
In fact, with the advancement of artificial intelligence, 5G networks, and virtual reality, internet-based hospitals have developed rapidly in the last decade []. Internet-based hospitals displayed significant advantages over offline services in terms of spatial accessibility and cost-effectiveness [,]. Further, internet-based hospitals established by physical hospitals can integrate online and offline medical information and offer consultation, prescription, and follow-up services to ensure the continuity of health care for patients []. It is worth mentioning that there has been a major problem of uneven distribution of medical resources in China, primarily manifested as great regional differences [,]. However, the establishment of internet-based hospitals has greatly improved the accessibility of high-quality medical resources in big cities, thereby narrowing the differences in medical resources in China [,].
Subsequently, with the outbreak of COVID-19, extensive evidence has emphasized the growing importance of telehealth in providing stable health care services and curbing the spread of the pandemic [,]. By transferring nonemergency cases to online services, internet-based hospitals significantly alleviated the overburden of health care systems, thereby optimizing the allocation of medical resources [,]. Additionally, pharmacy services, such as medication consultation, medication therapy management, patient education, and drug delivery services, have been shown to significantly reduce the financial burdens of patients and improve their medication adherence [,,]. Despite these potential benefits, disparities among different populations might also be inadvertently exacerbated during the pandemic, including internet facility conditions, digital skills, and physical conditions [-]. Meanwhile, due to the disadvantages such as insufficient interaction between doctors and patients and poor timeliness, the quality of online health care services has received great concern [,,].
As for patients with mental disorders, telepsychiatry digital platforms have fundamentally improved the accessibility of patients and exhibited therapeutic effects comparable to offline treatment [,]. To meet the growing medication needs of patients, our hospital (the Affiliated Brain Hospital of Guangzhou Medical University) launched an internet-based psychiatric hospital platform and officially started to provide online pharmacy services since November 2020. Specifically, patients can receive remote consultation from doctors at home, pay online, and settle in real time through medical insurance. Subsequently, electronic prescriptions are audited by trained and authorized pharmacists, and drugs are delivered directly to patients through qualified third-party logistics channels to reduce the spread of COVID-19.
Relation to Previous Work
At present, most studies on the telemedicine services during the COVID-19 pandemic have focused on general hospitals [-], and few studies have explored the online pharmacy services in internet-based psychiatric hospitals [,]. Moreover, the limitations of existing studies in this area still exist, including small sample sizes, restricted study periods, and a lack of comparison between different pandemic phases. Besides, it is still unclear how the gradual resumption of normal medical services after the pandemic will affect internet-based hospitals. Thus, to fill these knowledge gaps, we conducted a retrospective cross-sectional observational study using the electronic prescriptions issued in our internet-based psychiatric hospital during November 2020 to December 2023. This study had a larger sample size and a longer research timespan than previous studies in this field and used analytic statistical methods to ensure the reliability of our findings. This study could gain in-depth insights into the development trends of prescriptions and key predictors of pharmacy services in internet-based psychiatric hospitals and offer empirical guidance for other medical institutions in the effective responses to public health emergencies.
Objectives
In this study, we aimed to analyze the associations between different COVID-19 pandemic phases (predictor) and the trends and distribution patterns of the electronic prescriptions through descriptive and analytic statistical methods. The specific outcomes, including monthly prescription numbers, patients’ demographic characteristics (sex and age), clinical characteristics (primary diagnosed disease and type of drug), and pharmacy service indicators (pharmacist audit time and audit outcome), would be assessed to elucidate the changes in their distribution patterns driven by the pandemic phases.
Methods
All methods and findings of this study were reported based on the STROBE (Strengthening the Reporting of Observational Studies in Epidemiology) guidelines [] and the JARS (Journal Article Reporting Standards) guidelines [,]. A completed and filled out STROBE checklist of this study is provided as .
Study Design
This study was a retrospective cross-sectional observational study that comparatively analyzed the prescriptions and pharmacy services from an internet-based psychiatric hospital during November 2020 to December 2023. We used descriptive and analytic statistical methods to analyze the associations between the 2 distinct pandemic phases (pandemic phase and postpandemic phase) and the long-term trends of the prescriptions, patients’ demographic characteristics, drug and disease distribution patterns, and pharmacy service indicators.
Settings and Data Collection
All data in this study were obtained from the internet-based psychiatric hospital of the Affiliated Brain Hospital of Guangzhou Medical University, a tertiary psychiatric hospital located in Guangzhou, China. The telepharmacy service platform was officially launched and started to provide online services since November 2020. Patients can visit our internet-based psychiatric hospital through the app developed by Guangdong Yunhui Technology Co, Ltd. After patients log on to the app and input their personal information, doctors will confirm their identity information and issue prescriptions according to patients’ condition. All electronic prescriptions from the internet-based psychiatric hospital are manually audited by trained and authorized pharmacists. The detailed workflow of the doctor prescription and the pharmacist audit process is demonstrated in .
Figure 1. Flowchart depicting the doctor prescription and pharmacist audit process in the internet-based psychiatric hospital of the Affiliated Brain Hospital of Guangzhou Medical University during November 2020 to December 2023.
Data were collected from the electronic prescriptions of patients who received online medical services in our internet-based psychiatric hospital during November 1, 2020, to December 31, 2023. In this study, the exposure was the different pandemic phases. This study was a retrospective cross-sectional observational study, and no follow-up was performed. Data collection was conducted on a single day of March 11, 2024. Ultimately, a total of 17,330 electronic prescriptions with 36,088 drug records were identified and included in the final analysis.
Eligibility Criteria
This study aimed to analyze the entire population of prescriptions issued in our online platform during November 2020 to December 2023. There were no restrictions on prescription inclusion based on patients’ demographic characteristics (eg, sex, age, ethnicity, and socioeconomic status), and the inclusion criterion was defined as all prescriptions issued throughout the study period. Therefore, we essentially adopted a full-sample census approach. During the subsequent data screening process, cancelled, pending, and test prescriptions were considered to meet exclusion criteria and were removed from further data analysis. After data screening, a total of 17,330 prescriptions were included in the final data analysis. All data items of these included prescriptions were complete with no missing data. In addition, given the full-sample census method used, no sampling procedure was involved in this study. The detailed workflow of the eligibility criteria and data screening process is illustrated in .
Figure 2. Flowchart demonstrating the eligibility criteria and data screening process of the electronic prescriptions issued in the internet-based psychiatric hospital of the Affiliated Brain Hospital of Guangzhou Medical University during November 2020 to December 2023.
Variables
In this study, the outcomes were measured at the prescription level, including the number of prescriptions, patients’ demographic characteristics (sex and age), clinical characteristics (primary diagnosed disease and type of drug), and pharmacy service indicators (pharmacist audit time and audit outcome). Within the standard framework of this observational research, the pandemic phases could theoretically be considered as potential “predictors” of the outcomes. The conditions in this study were all naturally observed, and no causal analysis of observed phenomena was performed. Thus, no variables were formally specified as confounders or effect modifiers.
Bias
To prevent data inconsistencies due to periodic updates of the system when extracting data over multiple days, such as retrospective corrections of prescription status or batch updates of diagnoses and drug codes, all raw data in this study were extracted directly from our online platform backend system within a single day of March 11, 2024. This approach allowed us to ensure that all collected prescriptions had the same data status or version, thereby minimizing potential bias from data sources and guaranteeing data standardization.
Data Sources or Measurement and Quantitative Variables
In December 2022, the Chinese government announced the end of all COVID-19 prevention and quarantine control measures in China. Based on this, the timeline of the COVID-19 pandemic was divided into 2 phases: the pandemic phase (November 2020-December 2022) and postpandemic phase (January 2023-December 2023). Exposure to the distinct COVID-19 pandemic phases was therefore defined and evaluated throughout the study period.
Based on the 2 pandemic phases divided, the number of monthly prescriptions and cumulative prescriptions were presented using a continuous time variable in months. Further, a 2-stage interrupted time series (ITS) analysis was conducted. In the pandemic phase, we adjusted the starting time point to July 2021 to exclude abnormal values (values deviating more than 2 times the CI from the absolute value) in June 2021. A segmented regression model in ITS analysis was used to evaluate the association between COVID-19 relaxation in China and the trends of monthly prescriptions [,]. A continuous time variable in months was applied in the model, and data were presented as absolute values with 95% CI. The P value <.05 was accepted as statistical significance in the segmented regression model.
Descriptive data of patients’ demographic characteristics, drug and disease distribution patterns, and pharmacy service indicators were presented using frequencies and percentages. The subgroups of age were assigned as follows: pediatric and adolescent (≤17 years), young adult (18-40 years), middle-aged (41-65 years), and older adult (≥66 years). The age of patients was assessed using median with IQR.
The pharmacy service indicators included pharmacist audit time and audit outcome. Pharmacist audit time was defined as the total length of time (in minutes) from prescription submission to audit completion, which was automatically recorded in our audit system. During data analysis, the audit time was divided into 7 subgroups according to our institutional pharmacy operation guidelines, including “≤5 minutes,” “5-30 minutes,” “30 minutes-1 hour,” “1-12 hours,” “12-24 hours,” “24-48 hours,” and “˃48 hours.” The audit outcomes mainly included “approved by pharmacists,” “double confirmation by doctors,” and “not approved by pharmacists.” We used consistent evaluation criteria for the audit outcomes of all prescriptions in this study according to our institutional pharmacy operation guidelines. To be specific, “approved by pharmacists” referred to prescriptions that meet the patient’s clinical condition and rationale for medication, “double confirmation by doctors” referred to prescriptions with potential medication errors (eg, inappropriate indication, repeated medication, and overdose) that required double confirmation by doctors, and “not approved by pharmacists” referred to prescriptions disapproved by pharmacists due to serious safety concerns (eg, contraindicated drugs and lethal doses).
To examine the robustness of the descriptive data, including patients’ sex and age, diagnosed disease, drug type, pharmacist audit time, and audit outcome, percentage values were sampled repeatedly for 1000 times using the bootstrap method and were presented as absolute values with 95% CI [,].
Statistical Methods
Statistical data were presented for multiple variables, including sex, age, pharmacist audit time, and audit outcome. The general associations between pandemic phases and outcomes were examined using crosstabs analysis and Pearson chi-square analysis []. If the association was significant (P<.05), we further performed a multinomial logistic regression analysis to determine the source of significance using pandemic phases as a covariate []. Significance level of the Wald inclusion test statistic was applied with P value <.05. Odds ratios (ORs) with 95% CI and SE were calculated to quantify the associations between pandemic phases and outcomes. In this study, our predetermined α level was .05, and a 2-sided P value <.05 was considered statistically significant. All statistical analysis and graphical representations were performed using SPSS (version 26.0.0.2; IBM Corp) and GraphPad Prism (version 10.1.2; GraphPad Software, Inc).
Ethical Considerations
This study was approved by the institutional review board (IRB) of the Affiliated Brain Hospital of Guangzhou Medical University following a thorough review of the research protocol (approval 2025111). The informed consent of this study was waived by the IRB, and the IRB allowed the primary data collection and secondary analysis of research data without additional consent. We confirm that this study adhered strictly to the principles of privacy and confidentiality protection. The research team complied with all relevant local, national, and international laws and regulations regarding the protection of personal information, privacy, and human rights. All sensitive data related to patients, including name, ethnicity, socioeconomic status, education level, residential address, contact information, geographic distribution, prescription cost, primary complaint, medical history, previous diagnosis, information of the clinician, and content of the conversation, were deidentified to ensure privacy and security. Besides sensitive information, all other collected data were reported in this study. This study involved prescription data from the local database of our hospital and did not involve human experimentation or compensation. We confirm that no personally identifiable information of patients was accessible to the research team. We confirm that no identification of individual participants or users in any images of the manuscript or supplementary material is possible.
Results
General Trends of Monthly Prescriptions
In this study, a total of 17,330 electronic prescriptions were finally identified, of which 11,812 prescriptions were processed during the pandemic phase, and 5518 prescriptions were issued during the postpandemic phase. As shown in , the general trend of monthly prescriptions reflected a fluctuating tendency from November 2020 to December 2023. During the early stage of the pandemic phase from November 2020 to May 2021, the number of monthly prescriptions remained relatively low, with 76 prescriptions in total. Subsequently, the number of monthly prescriptions dramatically surged in June 2021 (n=3427), and then decreased to an average level of approximately 350 until another peak in November 2022 (n=1506). In the postpandemic phase, the number of monthly prescriptions stayed relatively stable around an average level of 460. On the other hand, the cumulative number of prescriptions exhibited a continuous upward tendency and peaked at 36,088 in December 2023.
Figure 3. The number of monthly prescriptions and cumulative prescriptions in the internet-based psychiatric hospital of the Affiliated Brain Hospital of Guangzhou Medical University. Sources of data are all the electronic prescriptions issued during November 2020 to December 2023. Values are presented using a continuous time variable in months.
ITS Analysis of Monthly Prescriptions
A further ITS analysis was conducted to evaluate the association between COVID-19 relaxation and the number of monthly prescriptions. We conducted a 2-stage ITS analysis using the data ranging from July 2021 to December 2023. As depicted in , the segmented regression model revealed a significant positive correlation between the months and the number of prescriptions (y=34.52*x+133.60; r=0.55; F1,16=6.96; P=.02; slope 34.52; 95% CI 6.78-62.27). These findings suggested an increasing tendency in patients’ needs and interest in our internet-based psychiatric hospital. In the postpandemic phase, the number of monthly prescriptions remained generally stable, and the trend was not statistically significant compared to baseline (y=4.83*x+428.50; r=0.46; F1,10=2.77; P=.13; slope 4.83; 95% CI –1.63 to 11.28). These findings indicated a stable and continuous service model of internet-based psychiatric hospital and a steady medication adherence of patients during January 2023 to December 2023.
Figure 4. Segmented regression model in the 2-stage interrupted time series analysis evaluating the association between COVID-19 relaxation and the number of monthly prescriptions in the internet-based psychiatric hospital of the Affiliated Brain Hospital of Guangzhou Medical University. Sources of data are all the electronic prescriptions issued during July 2021 to December 2023. Values are presented as absolute values (blue dots) with 95% CI (red shadow) with a continuous time variable in months. The red solid lines indicate lines of regression, and the vertical black dashed line indicates the end of all COVID-19 prevention and quarantine control measures in China in December 2022. The P value <.05 indicates a significant difference between the regression line and the baseline.
Demographic Characteristics of Patients
In this study, a total of 17,330 electronic prescriptions were collected, of which 11,812 prescriptions were issued during pandemic phase, and 5518 prescriptions were issued during the postpandemic phase. As the detailed characteristics of patients displayed in , the majority of patients were female during the pandemic phase (7297/11,812, 61.78%; 95% CI 60.91%-62.70%) and the postpandemic phase (3520/5518, 63.79%; 95% CI 62.58%-65.18%). There were 4515 male patients in the pandemic phase (4515/11,812, 38.22%; 95% CI 37.36%-39.03%) and 1998 male patients in the postpandemic phase (1998/5518, 36.21%; 95% CI 34.99%-37.32%).
Table 1. Demographic characteristics of patients who visited the internet-based psychiatric hospital of the Affiliated Brain Hospital of Guangzhou Medical University during November 2020 to December 2023a.
Characteristic
Pandemic (n=11,812), n (%)
95% CI
Postpandemic (n=5518), n (%)
95% CI
Chi-square (df)
P value
Sex
6.5 (1)
.01
Female
7297 (61.78)
60.91-62.70
3520 (63.79)
62.58-65.18
Male
4515 (38.22)
37.36-39.03
1998 (36.21)
34.99-37.32
Age (years)b
295.4 (3)
<.001
≤17
2873 (24.32)
23.47-25.19
1880 (34.07)
32.78-35.40
18-40
5606 (47.46)
46.63-48.39
2657 (48.15)
46.79-49.37
41-65
2400 (20.32)
19.61-21.07
703 (12.74)
11.92-13.59
≥66
933 (7.90)
7.42-8.36
278 (5.04)
4.48-5.62
aValues are presented as absolute values and percentages with 95% CI using the bootstrap method. The general associations between different pandemic phases and sex and age of patients are evaluated with crosstabs analysis and presented with Pearson chi-square values.
bPandemic: median 21 (IQR 18-44) years, postpandemic: median 21 (IQR 16-33) years.
Regarding age, young adults aged between 18 and 40 years accounted for the predominant population (5606/11,812, 47.46%; 95% CI 46.63%-48.39%) during pandemic phase, followed by patients aged ≤17 years (2873/11,812, 24.32%; 95% CI 23.47%-25.19%), patients aged between 41 and 65 years (2400/11,812, 20.32%; 95% CI 19.61%-21.07%), and patients aged ≥66 years (933/11,812, 7.90%; 95% CI 7.42%-8.36 %). Similarly, in postpandemic phase, young adults aged between 18 and 40 years accounted for the majority (2657/5518, 48.15%; 95% CI 46.79%-49.37%), followed by patients aged ≤17 years (1880/5518, 34.07%; 95% CI 32.78%-35.40%), patients aged between 41 and 65 years (703/5518, 12.74%; 95% CI 11.92%-13.59%), and patients aged ≥66 years (278/5518, 5.04%, 95 % CI 4.48%-5.62%). The median value of age was 21 (IQR 18-44) years during the pandemic phase and 21 (IQR 16-33) years in the postpandemic phase.
Overall, the Pearson chi-square analysis suggested significant statistical differences in sex distribution (χ21=6.5; P=.01) and age distribution (χ23=295.4; P<.001) between the 2 pandemic phases. These differences thereby suggested the necessity to perform further multinomial logistic regression analysis to determine the source of significance.
A follow-up multinomial logistic regression model was used to analyze the influences of different COVID-19 phases on the demographic characteristics of patients. As shown in , the postpandemic phase exhibited a positive correlation with the female group (P=.01; OR 1.09, 95% CI 1.02-1.17), suggesting a significantly increased proportion of female patients from 61.78% (7297/11,812) in the pandemic phase to 63.79% (3520/5518) in the postpandemic phase. Further, postpandemic phase displayed positive correlations with patients aged ≤17 years (P<.001; OR 2.20, 95% CI 1.90-2.54) and patients aged 18-40 years (P<.001; OR 1.59, 95% CI 1.38-1.83), suggesting significantly increased proportions of patients aged ≤17 years from 24.32% (2873/11,812) in pandemic phase to 34.07% (1880/5518) in postpandemic phase, and patients aged 18-40 years from 47.46% (5606/11,812) in pandemic phase to 48.15% (2657/5518) in postpandemic phase. We did not find a significant association between pandemic phases and patients aged ≥66 years across different pandemic phases (P=.83; OR 0.98, 95% CI 0.84-1.15).
Table 2. The influences of COVID-19 phases on the subgroups of patients’ demographic characteristics in a multinomial logistic regression modela.
Characteristic
SE
Wald
df
P value
ORb (95% CI)
Sex
Female
0.03
6.51
1
.01
1.09 (1.02-1.17)
Malec
—d
—
—
—
1.00 (—)
Age (years)
≤17
0.07
111.53
1
<.001
2.20 (1.90-2.54)
18-40
0.07
41.24
1
<.001
1.59 (1.38-1.83)
41-65
0.08
0.05
1
.83
0.98 (0.84-1.15)
≥66c
—
—
—
—
1.00 (—)
aData presented in this table are from the follow-up analysis of patients’ demographic characteristics to determine the source of the statistical difference. The SE and Wald inclusion test statistic are applied to quantify the associations between pandemic phases and outcomes.
bOR: odds ratio.
cReference group.
dNot available.
Distribution of Primary Diagnosed Diseases
As listed in , the top 10 primary diagnosed diseases in frequency were examined in our descriptive analysis. During the pandemic phase, a total of 83 diagnosed diseases were detected. The primary diagnosis of depressive disorder (3539/11,812, 29.96%; 95% CI 29.15%-30.79%) ranked first in frequency, followed by schizophrenia (2095/11,812, 17.74%; 95% CI 17.10%-18.40%) and bipolar disorder (1632/11,812, 13.82%; 95% CI 13.17%-14.50%). The primary diagnosis of epilepsy (108/11,812, 0.91%; 95% CI 0.77%-1.06%) ranked lowest among the top 10 primary diagnosed diseases. During the postpandemic phase, 58 diagnosed diseases in total were identified, and the leading 3 were depressive disorder (2094/5518, 37.95%; 95% CI 36.74%-39.12%), mood disorder (1191/5518, 21.58%; 95% CI 20.50%-22.74%), and schizophrenia (607/5518, 11%; 95% CI 10.20%-11.82%). In the postpandemic phase, epilepsy (49/5518, 0.89%; 95% CI 0.67%-1.12%) ranked lowest among the top 10 primary diagnosed diseases.
Table 3. The distribution of the top 10 primary diagnosed diseases from the electronic prescriptions processed in the internet-based psychiatric hospital of the Affiliated Brain Hospital of Guangzhou Medical University during November 2020 to December 2023a.
Rank
Primary diagnosed disease
Values, n (%)
95% CI
Pandemic (n=11,812)
1
Depressive disorder
3539 (29.96)
29.15-30.79
2
Schizophrenia
2095 (17.74)
17.10-18.40
3
Bipolar disorder
1632 (13.82)
13.17-14.50
4
Mood disorder
1444 (12.22)
11.65-12.86
5
Anxiety disorder
1208 (10.23)
9.61-10.82
6
Obsessive-compulsive disorder
328 (2.78)
2.47-3.08
7
Attention-deficit/hyperactivity disorder
232 (1.96)
1.73-2.22
8
Alzheimer disease
164 (1.39)
1.19-1.61
9
Autistic disorder
116 (0.98)
0.81-1.15
10
Epilepsy
108 (0.91)
0.77-1.06
Postpandemic (n=5518)
1
Depressive disorder
2094 (37.95)
36.74-39.12
2
Mood disorder
1191 (21.58)
20.50-22.74
3
Schizophrenia
607 (11.00)
10.20-11.82
4
Anxiety disorder
323 (5.85)
5.21-6.52
5
Bipolar disorder
301 (5.45)
4.89-5.96
6
Obsessive-compulsive disorder
162 (2.94)
2.56-3.35
7
Attention-deficit/hyperactivity disorder
127 (2.30)
1.94-2.66
8
Autistic disorder
117 (2.12)
1.81-2.45
9
Alzheimer disease
72 (1.30)
1.04-1.59
10
Epilepsy
49 (0.89)
0.67-1.12
aValues are presented as absolute values and percentages with 95% CI using the bootstrap method.
Distribution of Drugs in Prescriptions
A total of 114 types of drugs prescribed in 25,402 times during the pandemic phase and 126 types of drugs prescribed in 10,686 times during the postpandemic phase were identified. As listed in , the top 10 drugs in frequency were examined in our descriptive analysis. During the pandemic phase, the predominant drugs in prescriptions were quetiapine (2653/25,402, 10.44%; 95% CI 10.03%-10.81%), lithium carbonate (1439/25,402, 5.66%; 95% CI 5.39%-5.93%), and escitalopram (1414/25,402, 5.57%; 95% CI 5.30%-5.85%). The drug agomelatine (870/25,402, 3.42%; 95% CI 3.20%-3.65%) had the lowest frequency among the top 10 prescribed drugs. Likewise, in the postpandemic phase, the top 3 most frequently prescribed drugs were quetiapine (1276/10,686, 11.94%; 95% CI 11.37%-12.55%), lithium carbonate (733/10,686, 6.86%; 95% CI 6.36%-7.37%), and escitalopram (710/10,686, 6.64%; 95% CI 6.20%-7.07%). Olanzapine (458/10,686, 4.29%; 95% CI 3.91%-4.71%) ranked lowest in the top 10 prescribed drugs during the postpandemic phase.
Table 4. The distribution of the top 10 drugs from the electronic prescriptions processed in the internet-based psychiatric hospital of the Affiliated Brain Hospital of Guangzhou Medical University during November 2020 to December 2023a.
Rank
Drug
Values, n (%)
95% CI
Pandemic (n=25,402)b
1
Quetiapine
2653 (10.44)
10.03-10.81
2
Lithium carbonate
1439 (5.66)
5.39-5.93
3
Escitalopram
1414 (5.57)
5.30-5.85
4
Olanzapine
1398 (5.50)
5.26-5.75
5
Sodium Valproate
1356 (5.34)
5.07-5.62
6
Sertraline
1356 (5.34)
5.08-5.61
7
Aripiprazole
1247 (4.91)
4.63-5.18
8
Trihexyphenidyl
1185 (4.66)
4.41-4.93
9
Tandospirone
932 (3.67)
3.46-3.89
10
Agomelatine
870 (3.42)
3.20-3.65
Postpandemic (n=10,686)b
1
Quetiapine
1276 (11.94)
11.37-12.55
2
Lithium carbonate
733 (6.86)
6.36-7.37
3
Escitalopram
710 (6.64)
6.20-7.07
4
Tandospirone
657 (6.15)
5.66-6.64
5
Sodium valproate
612 (5.73)
5.31-6.14
6
Sertraline
584 (5.47)
5.02-5.90
7
Aripiprazole
570 (5.33)
4.90-5.75
8
Lamotrigine
495 (4.63)
4.23-5.01
9
Fluoxetine
460 (4.30)
3.93-4.67
10
Olanzapine
458 (4.29)
3.91-4.71
aValues are presented as absolute values and percentages with 95% CI using the bootstrap method.
bSome prescriptions may contain more than 1 drug.
Distribution of Prescription Audit Time and Audit Outcome
The detailed characteristics of prescription audit in the internet-based psychiatric hospital are listed in . During the pandemic phase, the majority of prescriptions (5999/11,812, 50.79%; 95% CI 49.89%-51.65%) were audited in ≤5 minutes, followed by prescriptions audited within 5-30 minutes (3255/11,812, 27.56%; 95% CI 26.74%-28.36%) and prescriptions audited within 1-12 hours (1466/11,812, 12.41%; 95% CI 11.86%-13.04%). The group of audit time ˃48 hours had the lowest number of prescriptions (4/11,812, 0.03%; 95% CI 0.01%-0.07%). In contrast, during postpandemic phase, most prescriptions (2031/5518, 36.81%; 95% CI 35.61%-37.95%) were audited within 1-12 hours, followed by prescriptions audited within 5-30 minutes (1359/5518, 24.63%; 95% CI 23.47%-25.73%) and prescriptions audited in ≤5 minutes (998/5518, 18.09%; 95% CI 17.13%-19.17%). Likewise, in the postpandemic phase, the group of audit time ˃48 hours had the lowest number of prescriptions (3/5518, 0.05%; 95% CI 0.01%-0.13%).
Table 5. The characteristics of prescription audit in the internet-based psychiatric hospital of the Affiliated Brain Hospital of Guangzhou Medical University during November 2020 to December 2023a.
Characteristic
Pandemic (n=11,812), n (%)
95% CI
Postpandemic (n=5518), n (%)
95% CI
Chi-square (df)
P value
Audit time
2784.5 (6)
<.001
≤5 minutes
5999 (50.79)
49.89-51.65
998 (18.09)
17.13-19.17
5-30 minutes
3255 (27.56)
26.74-28.36
1359 (24.63)
23.47-25.73
30 minutes-1 hour
957 (8.10)
7.65-8.57
669 (12.12)
11.31-13.01
1-12 hours
1466 (12.41)
11.86-13.04
2031 (36.81)
35.61-37.95
12-24 hours
86 (0.73)
0.57-0.88
404 (7.32)
6.64-8.07
24-48 hours
45 (0.38)
0.28-0.50
54 (0.98)
0.76-1.23
˃48 hours
4 (0.03)
0.01-0.07
3 (0.05)
0.01-0.13
Audit outcome
601.0 (2)
<.001
Approved by pharmacists
9844 (83.34)
82.68-84.06
5327 (96.54)
96.04-97.01
Double confirmation by doctors
1946 (16.47)
15.85-17.05
188 (3.41)
2.98-3.88
Not approved by pharmacists
22 (0.19)
0.12-0.25
3 (0.05)
0.01-0.13
aValues are presented as absolute values and percentages with 95% CI using the bootstrap method. The general associations between different pandemic phases and audit time and audit outcome are evaluated with crosstabs analysis and presented with Pearson chi-square values.
As for audit outcomes, most prescriptions (9844/11,812, 83.34%; 95% CI 82.68%-84.06%) were approved by pharmacists during the pandemic phase. Of the 11,812 prescriptions in the pandemic phase, 1946 (16.47%; 95% CI 15.85%-17.05%) required double confirmation by doctors before approval, and 22 (0.19%; 95% CI 0.12%-0.25%) were not approved by pharmacists. Similarly, during the postpandemic phase, the vast majority of prescriptions (5327/5518, 96.54%; 95% CI 96.04%-97.01%) were approved by pharmacists. Of the 5518 prescriptions in the postpandemic phase, 188 (3.41%; 95% CI 2.98%-3.88%) required double confirmation by doctors before approval, and 3 (0.05%; 95% CI 0.01%-0.13%) were not approved by pharmacists.
Overall, the Pearson chi-square analysis revealed a significant statistical difference in audit time (χ26=2784.5; P<.001) and audit outcomes (χ22=601.0; P<.001) between the 2 pandemic phases. These differences thereby suggested the necessity to perform further multinomial logistic regression analysis to determine the source of significance.
A follow-up multinomial logistic regression model was used to analyze the influences of different COVID-19 phases on the characteristics of prescription audit. As shown in , the postpandemic phase exhibited a negative correlation with audit time ≤5 minutes (P=.049; OR 0.22, 95% CI 0.05-0.99), suggesting a significantly decreased proportion of prescriptions audited in ≤5 minutes from 50.79% (5999/11,812) in the pandemic phase to 18.09% (998/5518) in the postpandemic phase. There was a positive correlation with audit time within 12-24 hours (P=.02; OR 6.26, 95% CI 1.38-28.49), suggesting a significantly increased proportion of prescriptions audited within 12-24 hours from 0.73% (86/11,812) in the pandemic phase to 7.32% (404/5518) in the postpandemic phase. We did not find significant associations between different pandemic phases and audit time within 5-30 minutes (P=.44; OR 0.56, 95% CI 0.12-2.49), audit time within 30-60 minutes (P=.93; OR 0.93, 95% CI 0.21-4.17), audit time within 1-12 hours (P=.42; OR 1.85, 95% CI 0.41-8.27), or audit time within 24-48 hours (P=.55; OR 1.60, 95% CI 0.34-7.53).
Table 6. The influences of COVID-19 phases on the subgroups of prescription audit indicators in a multinomial logistic regression modela.
Characteristic
SE
Wald
df
P value
ORb (95% CI)
Audit time
≤5 minutes
0.77
3.88
1
.049
0.22 (0.05-0.99)
5-30 minutes
0.76
0.59
1
.44
0.56 (0.12-2.49)
30 minutes-1 hour
0.76
0.01
1
.93
0.93 (0.21-4.17)
1-12 hours
0.77
0.64
1
.42
1.85 (0.41-8.27)
12-24 hours
0.77
5.63
1
.02
6.26 (1.38-28.49)
24-48 hours
0.79
0.35
1
.55
1.60 (0.34-7.53)
˃48 hoursc
—d
—
—
—
1.00 (—)
Audit outcome
Approved by pharmacists
0.62
5.01
1
.03
3.97 (1.19-13.26)
Double confirmation by doctors
0.62
0.31
1
.58
0.71 (0.21-2.39)
Not approved by pharmacistsc
—
—
—
—
1.00 (—)
aData presented in this table are from the follow-up analysis of the indicators of prescription audit to determine the source of statistical difference. The SE and Wald inclusion test statistic are applied to quantify the associations between pandemic phases and outcomes.
bOR: odds ratio.
cReference group.
dNot available.
Furthermore, the postpandemic phase displayed a positive correlation with the approved group (P=.03; OR 3.97, 95% CI 1.19-13.26), suggesting a significantly increased proportion of approved outcomes from 83.34% (9844/11,812) in the pandemic phase to 96.54% (5327/5518) in the postpandemic phase. We did not find significant associations between different pandemic phases and doctor double confirmation group (P=.58; OR 0.71, 95% CI 0.21-2.39).
Discussion
Principal Findings
In general, we found distinct trends of prescriptions in different phases of the pandemic, such that an overall upward trend during the pandemic phase and a stable tendency during the postpandemic phase. We found that female and young adults were the predominant groups, and their proportions increased with the development of the pandemic phases. Additionally, our findings demonstrated that the distribution patterns of primary diagnosed diseases and prescribed drugs were generally similar in both pandemic phases. At last, our results revealed that with the progress of the pandemic phases, the pharmacist audit time was extended, and the audit approval rate was increased.
Detailed Discussion of the Findings
Interpretations
From the perspective of monthly prescriptions, we found that our internet-based psychiatric hospital exhibited distinct distribution patterns across 2 pandemic phases. Our results from ITS analysis might reveal a generally increasing need for patients in online pharmacy services during the pandemic phase and the ability of internet-based psychiatric hospitals to provide stable pharmacy services after the pandemic [,].
Initially, during November 2020-May 2021, the small number of cumulative prescriptions possibly indicated that patients have not yet adapted to the shift from offline to online medical treatment model []. Notably, in June 2021, with the major outbreak in Guangzhou, the outpatient services of our hospital were suspended, which led to a dramatic surge in the number of electronic prescriptions []. This finding was in line with previous evidence, indicating the public panic in the early stage of the pandemic and the increased demand for patients for internet-based hospitals [,]. Subsequently, from July 2021 to October 2022, with the optimization of human resources in our internet-based psychiatric hospital and the gradually reduced public panic [,], the average number of monthly prescriptions remained relatively stable at approximately 350. During November 2022-December 2022, with another major outbreak in Guangzhou, together with the subsequent COVID-19 control relaxation in China, the demand for internet-based psychiatric hospitals surged again []. In the postpandemic phase, the average number of monthly prescriptions was stable at approximately 460, which was consistent with previous findings, indicating the critical role of internet-based hospitals during and after the COVID-19 pandemic []. Importantly, our findings highlighted the capacity and necessity of internet-based psychiatric hospitals in providing long-term stable services after the COVID-19 pandemic [].
Our results of prescription analysis indicated that female patients were the predominant population in our internet-based psychiatric hospital and were significantly associated with the COVID-19 pandemic phases compared to male patients. Previous studies have shown that female patients are more susceptible to external environmental stress compared to male patients, thereby resulting in mental health problems [-]. Recent evidence has suggested that female patients are more likely to seek help during public health crises, particularly during the COVID-19 pandemic [,]. Besides, our findings showed that patients aged 18-40 years were the major population in both pandemic phases, and individuals younger than 41 years of age were significantly associated with the pandemic phases. There were several driving factors that are worth noting. First, these individuals generally encounter significant life crises during the pandemic, such as academic disruptions, risk of unemployment, and financial instability []. Second, previous research has shown that the depression rate among adolescents and young adults has risen sharply over the past decade []. Fortunately, adolescents and young adults also demonstrated greater adaptability to digital health care platforms compared to the older population, which was helpful in facing public health crises [,]. Interestingly, our long-term datasets across pandemic phases appeared to reflect potential demographic differences based on sex and age, which echoed the previous evidence, indicating that the pandemic led to a widening digital divide []. Therefore, we suggest that future policy guidance and technical support should be committed to ensure balanced allocation of digital health care resources among different populations [].
In this study, we found that the leading primary diagnosed diseases included depressive disorder, bipolar disorder, schizophrenia, mood disorder, and anxiety disorder. This disorder spectrum not only aligned with the clinical orientation of our internet-based psychiatric hospital but also suggested that the patient populations analyzed in this study met the intended service objectives of our online platform []. Previous studies have reported that sudden public health emergencies can cause various psychological disorders, such as depression, mood disorder, and anxiety [,]. During the COVID-19 pandemic, control measures of medical isolation or home quarantine were also reported to cause significant psychological pressure []. Our results revealed increased proportions of depressive disorder and mood disorder in the postpandemic phase, which might support the evidence that there is a pandemic-driven shift pattern in global mental health needs []. Regarding drug categories, quetiapine, lithium carbonate, and escitalopram were the top 3 drugs prescribed in both pandemic phases, which was consistent with the evidence that these drugs were the most commonly applied antipsychotics and antidepressants [].
As for the time spent during the pharmacist audit process, it was reported that pharmacist audit time was significantly compressed during the pandemic due to strategic reallocation of hospital human resources [,]. In the postpandemic phase, we found a significantly decreased proportion of prescriptions audited in ≤5 minutes and a significantly increased proportion of prescriptions audited within 12-24 hours. Several factors could contribute to these changes. First, the increased complexity of prescriptions for patients infected with COVID-19 could lead to an extended audit time []. In addition, evidence has suggested that pharmacists were already at risk of burnout before the COVID-19 pandemic []. Subsequently, the increased workload coupled with decreased rest time have exacerbated the burnout, which might influence the overall prescription audit time [].
Pharmacists are considered to play a crucial role in ensuring the quality of prescription audit []. Pharmacist audit offers greater flexibility and professional judgment than a system automatic audit by using their clinical experience in individual conditions of patients []. Our results suggested an overall high prescription approval rate in both pandemic phases, revealing the critical role of pharmacist audit in promoting rational medication use in the internet-based psychiatric hospital []. Additionally, our results indicated a significantly increased pharmacist approval rate as well as a decreased doctor double confirmation rate in the postpandemic phase. These findings possibly reflected the increased familiarity of pharmacists and doctors with the online platform and the technological optimization of the digital system in the postpandemic phase [].
Innovation of the Study
To the best of our knowledge, this study is the first work that applied descriptive and analytic statistical methods to evaluate the associations between different phases of the COVID-19 pandemic and the prescriptions and pharmacy services in the internet-based psychiatric hospital. The analyzed indicators included long-term prescription trends, patients’ demographic characteristics, drug and disease distribution patterns, and pharmacy service indicators. Our results could provide practical experience for other medical institutions and help to promote the development of digital health service models in the future [].
Comparisons to Existing Literature
In the field of pharmacy services in internet-based hospitals, most research has focused on the establishment and application of an artificial intelligence audit system [,], drug delivery [-], medication therapy management [,], and drug consultation [,]. To date, only a few studies have explored online pharmacy services related to the COVID-19 pandemic through prescription analysis. Among these studies, Chen et al [] analyzed 1718 prescriptions from the online platform of a tertiary cancer hospital in China over 6 months, involving data of patients’ sex and age, geographical distribution, main diagnosis, and drug category. Ding et al [] analyzed 1380 prescriptions from the online platform of a tertiary general hospital in China over 2 months, covering data of patients’ sex and age, residence, prescription department, payment of prescription, and drug delivery region. As for studies in the field of internet-based psychiatric hospitals, Xie et al [] analyzed 2914 prescriptions over 24 months, and Du et al [] analyzed 1259 prescriptions over 12 months. Notably, we found that the distribution patterns of patients’ sex and age, diagnosed diseases, and prescribed drugs in our study were generally consistent with these 2 studies [,], which supported the reliability and generalizability of our results.
However, existing studies conducting prescription analysis only applied descriptive statistical methods rather than analytic statistical methods to compare the results between different pandemic phases, limiting in-depth interpretation of the observed phenomena [,,,]. Our study addressed the limitations of existing research from several aspects. First, this study carried a larger sample size compared to previous studies, and the collection of 17,330 prescriptions strengthened the statistical power of the study []. Second, we provided a longer research timespan than previous studies, and the dataset over 38 months enhanced the robustness of our results []. Finally, by providing certainty of evidence through analytic statistical methods, including ITS analysis, bootstrap method, Pearson chi-square analysis, and multinomial logistic regression, we further explored the potential correlations between the pandemic phases and the observed outcomes [-].
Contribution of the Study
The main contribution of this study was to provide a fundamental practice model of telepharmacy service. First, we identified early warning indicators that can be used as key intervention steps in pharmacy services, such as extended audit time and an increased number of prescriptions []. Second, by using descriptive and analytic statistical approaches in the analysis of prescriptions and pharmacy services, we demonstrated replicable analytic methods that can be applied in other medical institutions, offering templates for future responses to public health crises []. Taken together, this study greatly enriched our understanding of pharmacy services in internet-based hospitals and provided practical experience for future multicenter research in this field [].
Implications
Our study had direct real-world implications for optimizing the efficiency of pharmacy services in internet-based hospitals. Our data showed that prescription audit time was significantly extended in the postpandemic phase. Therefore, for hospital managers, it is recommended to establish a pharmacy personnel allocation system to timely deploy nonemergency personnel when prescription audit time increases abnormally []. In addition, it is important to build a reward mechanism for pharmacy services. Specifically, the efficiency of prescription audit can be promoted by implementing clear service standards and linking them to incentive funds []. For software developers, pharmacy service paths can be optimized for key populations. Our results suggested that the majority in internet-based psychiatric hospitals were female patients. Therefore, online psychological counseling tools can be developed for this population [,]. On the other hand, our results revealed the lowest proportion of older patients. Hence, in order to improve their user experience, simplified user interface and video chat tools can be added in the app []. Besides, we found that many prescriptions required double confirmation by doctors during the pandemic phase. To further improve doctor-pharmacist communication in this step, a real-time videoconferencing module can be added to the audit system [,]. Further, a local knowledge base can be built to predict prescriptions that may trigger double confirmation by doctors and convert them into pop-up notifications in the doctor-prescribing system [].
Limitations
This study had some limitations that need to be noted. First, although our study analyzed the real-world pharmacy service model in an operating online platform of a psychiatric hospital in China, its single-center nature might limit the generalizability of our findings in rural regions or other hospitals, such as general hospitals and rural primary medical institutions []. Future research of multicenter design should be required to further validate our conclusions []. Second, due to the observational nature of our study, the findings mainly allowed us to demonstrate statistical associations rather than definite proof of causality []. It would be helpful for future studies to manipulate more predictors in the model to clarify potential confounding effects []. Third, the absence of other unmeasured factors, such as prescription cost, patients’ geographic distribution, comorbidities, disease severity, and adverse events, might have influenced the depth of our findings [,]. The inclusion of these possible variables in future work would enrich our understanding of the internet-based hospital service models [].
Conclusions
In summary, this study applied descriptive and analytic statistical methods to evaluate the associations between different COVID-19 phases and the prescriptions and pharmacy services in our internet-based psychiatric hospital. We found an overall upward trend in the number of prescriptions during the pandemic phase and a steady trend after the pandemic. Among patients, female and young adults were the predominant groups, and their proportions increased with the development of pandemic phases. The distribution patterns of primary diagnosed diseases and prescribed drugs were generally similar in both pandemic phases. As the pandemic phases advanced, prescription audit time was extended, and the audit approval rate was increased. This study addressed the limitations of existing research by the application of larger sample size, longer research timespan, and analytic statistical methods. This study demonstrated early warning indicators and replicable analytic methods that can be applied in other medical institutions. Our findings also had implications for hospital managers and software developers in optimizing the efficiency of pharmacy services in internet-based hospitals.
No generative artificial intelligence was used in any portion of the manuscript writing.
The datasets used and/or analyzed during this study are included in the paper or ; further inquiries are available from the corresponding author on reasonable request.
This work was supported by the National Natural Science Foundation of China (82104223), Guangdong Basic and Applied Basic Research Foundation (2020A1515110008), Science and Technology Program of Guangzhou (202102021022, 2024A04J10001, and 2025A03J3308), Guangzhou Municipal Science and Technology Project for Medicine and Healthcare (20211A011044), and Guangzhou Municipal Key Discipline in Medicine (2025-2027). The funders had no involvement in the study design, data collection, analysis, interpretation, or the writing of the manuscript.
YT and JH contributed to the study concept and design. DS contributed to the acquisition of data. GD and HX contributed to the statistical analysis and visualization of data and drafted the manuscript. YT and JH contributed to the writing and review of the manuscript. YW contributed to the supervision. All authors contributed to the critical revision of the final manuscript and approved the final version of the manuscript.
None declared.
Edited by S Brini; submitted 18.Mar.2025; peer-reviewed by N Liu, Ş Demiralay; comments to author 24.Sep.2025; accepted 06.Feb.2026; published 04.Mar.2026.
This is an open-access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work, first published in the Journal of Medical Internet Research (ISSN 1438-8871), is properly cited. The complete bibliographic information, a link to the original publication on https://www.jmir.org/, as well as this copyright and license information must be included.
Revenue of $19,311 million for the first quarter, up 29 percent from the prior year period
GAAP net income of $7,349 million for the first quarter; Non-GAAP net income of $10,185 million for the first quarter
Adjusted EBITDA of $13,128 million for the first quarter, or 68 percent of revenue
GAAP diluted EPS of $1.50 for the first quarter; Non-GAAP diluted EPS of $2.05 for the first quarter
Cash from operations of $8,260 million for the first quarter, less capital expenditures of $250 million, resulted in $8,010 million of free cash flow, or 41 percent of revenue
Quarterly common stock dividend of $0.65 per share
Second quarter fiscal year 2026 revenue guidance of approximately $22.0 billion, an increase of 47 percent from the prior year period
Second quarter fiscal year 2026 Adjusted EBITDA guidance of approximately 68 percent of projected revenue (1)
New $10 billion share repurchase program
PALO ALTO, Calif., March 4, 2026 /PRNewswire/ — Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its first quarter of fiscal year 2026, ended February 1, 2026, provided guidance for its second quarter of fiscal year 2026 and announced its quarterly dividend.
“Broadcom achieved record first quarter revenue on continued strength in AI semiconductor solutions. Q1 AI revenue of $8.4 billion grew 106% year-over-year, above our forecast, driven by robust demand for custom AI accelerators and AI networking,” said Hock Tan, President and CEO of Broadcom Inc. “Our AI revenue growth is accelerating, and we expect AI semiconductor revenue to be $10.7 billion in Q2.”
“Consolidated revenue grew 29% year-over-year to a record $19.3 billion. Adjusted EBITDA increased 30% year-over-year to a record $13.1 billion, representing 68% of revenue. In Q2 we expect revenue growth to increase 47% year-over-year to $22.0 billion, with adjusted EBITDA of 68%,” said Kirsten Spears, CFO of Broadcom Inc. “Consistent with our commitment to return excess cash to shareholders, we returned $10.9 billion in the first quarter through $3.1 billion of cash dividends and $7.8 billion of stock repurchases.”
(1) The Company is not readily able to provide a reconciliation of the projected non-GAAP financial information presented to the relevant projected GAAP measure without unreasonable effort.
First Quarter Fiscal Year 2026 Financial Highlights
GAAP
Non-GAAP
(Dollars in millions, except per share data)
Q1 26
Q1 25
Change
Q1 26
Q1 25
Change
Net revenue
$
19,311
$
14,916
+29
%
$
19,311
$
14,916
+29
%
Net income
$
7,349
$
5,503
+34
%
$
10,185
$
7,823
+30
%
Earnings per common share – diluted
$
1.50
$
1.14
+32
%
$
2.05
$
1.60
+28
%
(Dollars in millions)
Q1 26
Q1 25
Change
Cash flow from operations
$
8,260
$
6,113
+35
%
Adjusted EBITDA
$
13,128
$
10,083
+30
%
Free cash flow
$
8,010
$
6,013
+33
%
Net revenue by segment
(Dollars in millions)
Q1 26
Q1 25
Change
Semiconductor solutions
$
12,515
65
%
$
8,212
55
%
+52
%
Infrastructure software
6,796
35
6,704
45
+1
%
Total net revenue
$
19,311
100
%
$
14,916
100
%
The Company’s cash and cash equivalents at the end of the fiscal quarter were $14,174 million, compared to $16,178 million at the end of the prior fiscal quarter.
During the first fiscal quarter, the Company generated $8,260 million in cash from operations and spent $250 million on capital expenditures, resulting in $8,010 million of free cash flow.
On December 31, 2025, the Company paid a cash dividend of $0.65 per share, totaling $3,086 million.
The differences between the Company’s GAAP and non-GAAP results are described generally under “Non-GAAP Financial Measures” below and presented in detail in the financial reconciliation tables attached to this release.
Second Quarter Fiscal Year 2026 Business Outlook
Based on current business trends and conditions, the outlook for the second quarter of fiscal year 2026, ending May 3, 2026, is expected to be as follows:
Second quarter revenue guidance of approximately $22.0 billion; and
Second quarter Adjusted EBITDA guidance of approximately 68 percent of projected revenue.
The guidance provided above is only an estimate of what the Company believes is realizable as of the date of this release. The Company is not readily able to provide a reconciliation of projected Adjusted EBITDA to projected net income without unreasonable effort. Actual results will vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.
Quarterly Dividends
The Board of Directors of Broadcom has approved a quarterly cash dividend of $0.65 per share. The dividend is payable on March 31, 2026 to stockholders of record at the close of business (5:00 p.m. Eastern Time) on March 23, 2026.
New Share Repurchase Program
The Board of Directors of Broadcom has authorized a new share repurchase program to repurchase up to $10 billion of its common stock through December 31, 2026. Repurchases under the new share repurchase authorization may be made through a variety of methods, including open market or privately negotiated purchases. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities and other factors. Broadcom is not obligated to repurchase any specific amount of shares of common stock, and the share repurchase program may be suspended or terminated at any time.
Financial Results Conference Call
Broadcom Inc. will host a conference call to review its financial results for the first quarter of fiscal year 2026 and to discuss the business outlook today at 2:00 p.m. Pacific Time.
To Listen via Internet: The conference call can be accessed live online in the Investors section of the Broadcom website at https://investors.broadcom.com/.
Replay: An audio replay of the conference call can be accessed for one year through the Investors section of Broadcom’s website at https://investors.broadcom.com/.
Non-GAAP Financial Measures
The non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release to the extent available without unreasonable effort. Broadcom believes non-GAAP financial information provides additional insight into the Company’s on-going performance. Therefore, Broadcom provides this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company’s on-going operations and enable more meaningful period to period comparisons.
In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses, cash flow and other data on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other charges, acquisition-related costs, including integration costs, non-GAAP tax reconciling adjustments, and other adjustments. Management does not believe that these items are reflective of the Company’s underlying performance. Internally, these non-GAAP measures are significant measures used by management for purposes of evaluating the core operating performance of the Company, establishing internal budgets, calculating return on investment for development programs and growth initiatives, comparing performance with internal forecasts and targeted business models, strategic planning, evaluating and valuing potential acquisition candidates and how their operations compare to the Company’s operations, and benchmarking performance externally against the Company’s competitors. The exclusion of these and other similar items from Broadcom’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual.
Free cash flow measures have limitations as they omit certain components of the overall cash flow statement and do not represent the residual cash flow available for discretionary expenditures. Investors should not consider presentation of free cash flow measures as implying that stockholders have any right to such cash. Broadcom’s free cash flow may not be calculated in a manner comparable to similarly named measures used by other companies.
About Broadcom
Broadcom Inc. (NASDAQ: AVGO) is a technology leader that designs, develops, and supplies semiconductors and infrastructure software for global organizations’ complex, mission-critical needs. Broadcom combines long-term R&D investment with superb execution to deliver the best technology, at scale. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, visit www.broadcom.com.
This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, our plans and expectations with regard to our share repurchases, and other statements identified by words such as “will,” “expect,” “believe,” “anticipate,” “estimate,” “should,” “intend,” “plan,” “potential,” “predict,” “project,” “aim,” and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of Broadcom’s management, current information available to Broadcom’s management, and current market trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, undue reliance should not be placed on such statements.
Particular uncertainties that could materially affect future results include risks associated with: global economic conditions and uncertainty; government regulations, trade restrictions and trade tensions; global political and economic conditions relating to our international operations; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturing and outsourced supply chain; the slow or unsuccessful return on our investments, expansion of our business strategy or adoption of new business models; cyclicality in the semiconductor industry or in our target markets; dependence on senior management and our ability to attract and retain qualified personnel; our ability to protect against cybersecurity threats and a breach of security systems; our ability to accurately estimate customers’ demand and adjust our manufacturing and supply chain accordingly; our dependency on a limited number of suppliers; prolonged disruptions of our, our customers’ or our suppliers’ facilities or other significant operations; our ability to maintain appropriate manufacturing capacity and quality; our ability to continue winning business in the semiconductor solutions industry; dependence on and risks associated with distributors and other channel partners of our products; ability of our software products to manage and secure IT infrastructures and environments; demand for our data center virtualization products and customer acceptance of our products, services and business strategy; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; use of open source software in our products; sales to government customers; our ability to manage products and services lifecycles; our competitive performance; quarterly and annual fluctuations in operating results; our ability to maintain or improve gross margin; any acquisitions or dispositions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; involvement in legal proceedings; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims, or other undetected defects or bugs; our compliance with privacy and data security laws; corporate responsibility matters; our provision for income taxes and overall cash tax costs; our ability to maintain tax concessions in certain jurisdictions; potential tax liabilities as a result of acquiring VMware; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; the amount and frequency of our share repurchase program; and other events and trends on a national, regional, industry-specific and global scale, including those of a political, economic, business, competitive and regulatory nature. We are not obligated to repurchase any specific amount of shares of common stock, and the share repurchase program may be suspended or terminated at any time.
Our filings with the SEC, which are available without charge at the SEC’s website at https://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.
Contact: Ji Yoo Broadcom Inc. Investor Relations 650-427-6000 [email protected]
(AVGO-Q)
BROADCOM INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS – UNAUDITED
(IN MILLIONS, EXCEPT PER SHARE DATA)
Fiscal Quarter Ended
February 1,
November 2,
February 2,
2026
2025
2025
Net revenue
$
19,311
$
18,015
$
14,916
Cost of revenue:
Cost of revenue
4,679
4,213
3,273
Amortization of acquisition-related intangible assets
1,462
1,545
1,484
Restructuring charges
13
8
14
Total cost of revenue
6,154
5,766
4,771
Gross margin
13,157
12,249
10,145
Research and development
2,965
2,981
2,253
Selling, general and administrative
1,019
1,107
949
Amortization of acquisition-related intangible assets
507
507
511
Restructuring and other charges
103
146
172
Total operating expenses
4,594
4,741
3,885
Operating income
8,563
7,508
6,260
Interest expense
(801)
(761)
(873)
Other income, net
433
122
103
Income before income taxes
8,195
6,869
5,490
Provision for (benefit from) income taxes
846
(1,649)
(13)
Net income
$
7,349
$
8,518
$
5,503
Net income per share:
Basic
$
1.55
$
1.80
$
1.17
Diluted
$
1.50
$
1.74
$
1.14
Weighted-average shares used in per share calculations:
Basic
4,741
4,732
4,695
Diluted
4,888
4,889
4,836
Stock-based compensation expense:
Cost of revenue
$
236
$
237
$
153
Research and development
1,447
1,456
822
Selling, general and administrative
493
502
305
Total stock-based compensation expense
$
2,176
$
2,195
$
1,280
BROADCOM INC.
FINANCIAL RECONCILIATION: GAAP TO NON-GAAP – UNAUDITED
(IN MILLIONS)
Fiscal Quarter Ended
February 1,
November 2,
February 2,
2026
2025
2025
Gross margin on GAAP basis
$
13,157
$
12,249
$
10,145
Amortization of acquisition-related intangible assets
1,462
1,545
1,484
Stock-based compensation expense
236
237
153
Restructuring charges
13
8
14
Gross margin on non-GAAP basis
$
14,868
$
14,039
$
11,796
Research and development on GAAP basis
$
2,965
$
2,981
$
2,253
Stock-based compensation expense
1,447
1,456
822
Research and development on non-GAAP basis
$
1,518
$
1,525
$
1,431
Selling, general and administrative expense on GAAP basis
$
1,019
$
1,107
$
949
Stock-based compensation expense
493
502
305
Acquisition-related costs
2
12
107
Selling, general and administrative expense on non-GAAP basis
$
524
$
593
$
537
Total operating expenses on GAAP basis
$
4,594
$
4,741
$
3,885
Amortization of acquisition-related intangible assets
507
507
511
Stock-based compensation expense
1,940
1,958
1,127
Restructuring and other charges
103
146
172
Acquisition-related costs
2
12
107
Total operating expenses on non-GAAP basis
$
2,042
$
2,118
$
1,968
Operating income on GAAP basis
$
8,563
$
7,508
$
6,260
Amortization of acquisition-related intangible assets
1,969
2,052
1,995
Stock-based compensation expense
2,176
2,195
1,280
Restructuring and other charges
116
154
186
Acquisition-related costs
2
12
107
Operating income on non-GAAP basis
$
12,826
$
11,921
$
9,828
Interest expense on GAAP basis
$
(801)
$
(761)
$
(873)
Loss on debt extinguishment
55
20
65
Interest expense on non-GAAP basis
$
(746)
$
(741)
$
(808)
Other income, net on GAAP basis
$
433
$
122
$
103
Excise tax benefit
(315)
–
–
(Gains) losses on investments
–
(6)
4
Other
–
–
(31)
Other income, net on non-GAAP basis
$
118
$
116
$
76
Provision for (benefit from) income taxes on GAAP basis
$
846
$
(1,649)
$
(13)
Non-GAAP tax reconciling adjustments (1)
1,167
3,231
1,286
Provision for income taxes on non-GAAP basis
$
2,013
$
1,582
$
1,273
Net income on GAAP basis
$
7,349
$
8,518
$
5,503
Amortization of acquisition-related intangible assets
1,969
2,052
1,995
Stock-based compensation expense
2,176
2,195
1,280
Restructuring and other charges
116
154
186
Acquisition-related costs
2
12
107
Loss on debt extinguishment
55
20
65
Excise tax benefit
(315)
–
–
(Gains) losses on investments
–
(6)
4
Other
–
–
(31)
Non-GAAP tax reconciling adjustments (1)
(1,167)
(3,231)
(1,286)
Net income on non-GAAP basis
$
10,185
$
9,714
$
7,823
Net income on GAAP basis
$
7,349
$
8,518
$
5,503
Non-GAAP Adjustments:
Amortization of acquisition-related intangible assets
1,969
2,052
1,995
Stock-based compensation expense
2,176
2,195
1,280
Restructuring and other charges
116
154
186
Acquisition-related costs
2
12
107
Loss on debt extinguishment
55
20
65
Excise tax benefit
(315)
–
–
(Gains) losses on investments
–
(6)
4
Other
–
–
(31)
Non-GAAP tax reconciling adjustments (1)
(1,167)
(3,231)
(1,286)
Other Adjustments:
Interest expense
746
741
808
Provision for income taxes on non-GAAP basis
2,013
1,582
1,273
Depreciation
150
148
142
Amortization of purchased intangibles and right-of-use assets
34
33
37
Adjusted EBITDA
$
13,128
$
12,218
$
10,083
Weighted-average shares used in per share calculations – diluted on GAAP basis
4,888
4,889
4,836
Non-GAAP adjustment (2)
69
80
59
Weighted-average shares used in per share calculations – diluted on non-GAAP basis
4,957
4,969
4,895
Net cash provided by operating activities
$
8,260
$
7,703
$
6,113
Purchases of property, plant and equipment
(250)
(237)
(100)
Free cash flow
$
8,010
$
7,466
$
6,013
Fiscal Quarter
Ending
May 3,
2026
Expected average diluted share count (3):
Weighted-average shares used in per share calculation – diluted on GAAP basis
4,875
Non-GAAP adjustment (2)
69
Weighted-average shares used in per share calculation – diluted on non-GAAP basis
4,944
(1) For the fiscal quarter ended November 2, 2025, non-GAAP tax reconciling adjustments included a one-time discrete non-cash tax benefit of $2.1 billion from the impact of lapses of statutes of limitations.
(2) Non-GAAP adjustment for the number of shares used in the diluted per share calculations excludes the impact of stock-based compensation expense expected to be incurred in future periods and not yet recognized in the financial statements, which would otherwise
be assumed to be used to repurchase shares under the GAAP treasury stock method.
(3) Excludes the effects of potential share repurchases.
BROADCOM INC.
CONDENSED CONSOLIDATED BALANCE SHEETS – UNAUDITED
(IN MILLIONS)
February 1,
November 2,
2026
2025
ASSETS
Current assets:
Cash and cash equivalents
$
14,174
$
16,178
Trade accounts receivable, net
8,460
7,145
Inventory
2,962
2,270
Other current assets
6,466
5,980
Total current assets
32,062
31,573
Long-term assets:
Property, plant and equipment, net
2,599
2,530
Goodwill
97,801
97,801
Intangible assets, net
30,302
32,273
Other long-term assets
7,139
6,915
Total assets
$
169,903
$
171,092
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable
$
2,112
$
1,560
Employee compensation and benefits
864
2,129
Short-term debt
2,252
3,152
Other current liabilities
11,631
11,673
Total current liabilities
16,859
18,514
Long-term liabilities:
Long-term debt
63,805
61,984
Other long-term liabilities
9,367
9,302
Total liabilities
90,031
89,800
Stockholders’ equity:
Preferred stock
–
–
Common stock
5
5
Additional paid-in capital
73,135
71,308
Retained earnings
6,520
9,761
Accumulated other comprehensive income
212
218
Total stockholders’ equity
79,872
81,292
Total liabilities and equity
$
169,903
$
171,092
BROADCOM INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – UNAUDITED
(IN MILLIONS)
Fiscal Quarter Ended
February 1,
November 2,
February 2,
2026
2025
2025
Cash flows from operating activities:
Net income
$
7,349
$
8,518
$
5,503
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible and right-of-use assets
2,003
2,085
2,032
Depreciation
150
148
142
Stock-based compensation
2,176
2,195
1,280
Deferred taxes and other non-cash taxes
(455)
(3,025)
(696)
Loss on debt extinguishment
55
20
65
Non-cash interest expense
72
71
97
Other
15
36
41
Changes in assets and liabilities, net of acquisitions and disposals:
Trade accounts receivable, net
(1,315)
(651)
(539)
Inventory
(692)
(90)
(148)
Accounts payable
534
118
241
Employee compensation and benefits
(1,261)
410
(908)
Other current assets and current liabilities
(692)
(809)
26
Other long-term assets and long-term liabilities
321
(1,323)
(1,023)
Net cash provided by operating activities
8,260
7,703
6,113
Cash flows from investing activities:
Purchases of property, plant and equipment
(250)
(237)
(100)
Purchases of investments
(114)
(336)
(105)
Sales of investments
244
101
18
Other
5
105
13
Net cash used in investing activities
(115)
(367)
(174)
Cash flows from financing activities:
Proceeds from long-term borrowings
4,474
4,971
2,986
Payments on debt obligations
(3,650)
(3,638)
(8,090)
Proceeds from (repayments of) commercial paper, net
–
(488)
3,980
Payments of dividends
(3,086)
(2,797)
(2,774)
Repurchases of common stock – repurchase program
(7,850)
–
–
Shares repurchased for tax withholdings on vesting of equity awards
[Barcelona, Spain, March 4, 2026] During MWC26 Barcelona, the “Ubiquitous AI Health Assistant” jointly created by China Mobile 5G New Calling and Huawei has won two GSMA GLOMO Awards – the Best Mobile Connected Health and Wellbeing Innovation and the Best Use of Mobile for Accessibility & Inclusion. This marks that intelligent communications centered on voice core networks and featuring “Calling as a Service” has entered a new stage. Recognized as one of the most authoritative honors in global mobile communications and digital innovation, the awards celebrate outstanding innovations that drive social progress and improve people’s wellbeing through mobile technologies.
Best Mobile Connected Health and Wellbeing Innovation Award
Best Use of Mobile for Accessibility & Inclusion Award
With the mission of “Making health for 1.4 billion people as easy as making a phone call”, the AI Health Assistant integrates AI medical capabilities directly into carrier-grade basic communication networks. Leveraging 3GPP-standardized IMS Data Channel (IMS DC), the solution establishes a high-speed data channel alongside the standard voice call link, enabling real-time converged transmission of voice and data. Users can access medical Q&A, preliminary symptom screening, health consultation, and hospital recommendations simply by dialing a number—no app download, account registration, or complex operation required. This design greatly lowers the barrier to digital healthcare, providing inclusive health access especially for the elderly, rural users, and people in underserved regions.
The platform integrates multimodal large models, medical knowledge graphs, and carrier-grade real-time, highly reliable, wide-coverage connectivity to deliver millisecond-level voice interaction and high-precision medical understanding. To date, its ecosystem has connected more than 5,000 hospitals and medical institutions, covers over 1 million doctors, and deploys more than 300 AI medical expert avatars, helping users access professional medical advice more efficiently.
The AI Health Assistant represents cutting-edge innovation at the intersection of AI and communications, and demonstrates the large-scale social value of mobile technologies in public health. By embedding medical capabilities into basic communication services accessible to all, the project offers a replicable new paradigm for global digital health development.
This achievement marks the official entry of the “AI + DC New Communication” ecosystem into public‑oriented applications. The deep integration of real-time communication networks and AI is becoming critical infrastructure for next‑generation intelligent services, while the true value of technology lies in making complex healthcare simple, trustworthy, and available to everyone. Going forward, the two parties will continue to expand service capabilities, deepen cooperation with medical institutions, promote the deployment of AI health services in more countries and regions, and contribute to global health equity.
MWC Barcelona 2026 will be held from March 2 to March 5 in Barcelona, Spain. During the event, Huawei will showcase its latest products and solutions at stand 1H50 in Fira Gran Via Hall 1.
The era of agentic networks is now approaching fast, and the commercial adoption of 5G-A at scale is gaining speed. Huawei is actively working with carriers and partners around the world to unleash the full potential of 5G-A and pave the way for the evolution to 6G. We are also creating AI-Centric Network solutions to enable intelligent services, networks, and network elements (NEs), speeding up the large-scale deployment of level-4 autonomous networks (AN L4), and using AI to upgrade our core business. Together with other industry players, we will create leading value-driven networks and AI computing backbones for a fully intelligent future.
For more information, please visit: https://carrier.huawei.com/en/minisite/events/mwc2026/