Metals Creek Resources Corp. Closes First Tranche of Flow-Through Private Placement Financing - Secures Drill for Next Phase of Tillex Copper Project DrillingNovember 18, 2024 7:00 AM EST | Source: Metals Creek Resources Corp.Thunder Bay, Ontario--(Newsfile Corp. - November 18, 2024) - Metals Creek Resources Corp. (TSXV: ME) (FSE: M1C1) (the "Company" or Metals Creek) further to its November 5, 2024 news release, the Company announces that it has received Conditional Approval from the TSX Vent ...

Financial Data and Key Metrics - Revenue for Q2 2025 was $44 million, a 12% decrease compared to the same period in the prior year, driven by lower consumer services and research services revenue [23] - Gross profit for Q2 2025 was $22 million, a 3% increase over the prior year, primarily due to growth in high-margin membership services [25] - Net loss for Q2 2025 improved by 21% to $59 million, compared to a net loss of $75 million in the prior year, driven by savings in operating expenses [28] - Adjusted EBITDA deficit for Q2 2025 improved to a loss of $33 million, compared to a loss of $45 million in the prior year, due to lower R&D and personnel-related expenses [29] - Cash and cash equivalents at the end of Q2 2025 were $127 million, down from $216 million as of March 31, 2024 [30] Business Line Data and Key Metrics - Consumer services revenue, including PGS, telehealth, and membership services, represented 99% of total revenue for Q2 2025 [24] - Research services revenue accounted for 1% of total revenue for Q2 2025, with expected revenue recognition from the GSK data license in the second half of fiscal 2025 [24] - Membership services revenue grew significantly, with recurring revenue more than doubling to 21% of total revenue in Q2 2025, compared to 9% in the prior year quarter [16] Market Data and Key Metrics - The company launched weight management initiatives, including a study on GLP-1 efficacy and a genetic report on emotional eating, targeting consumers with high BMI [12][13] - New regions and historical matches were added to the ancestry composition features, resulting in increased growth and improved retention rates for subscription services [15] - The company launched a GLP-1 weight loss telehealth membership on the Lemonaid Health platform, offering access to semaglutide medications [14] Company Strategy and Industry Competition - The company is restructuring to streamline operations, reduce costs, and position for long-term success, including discontinuing therapeutic programs and reducing the workforce by 40% [6] - The company is focusing on higher-margin recurring revenue streams, particularly subscription services, and leveraging its genetic database for research collaborations [16][20] - The company is exploring strategic alternatives for its therapeutics pipeline to enable continued development outside of 23andMe [7] Management Commentary on Operating Environment and Future Outlook - The company believes the restructuring actions will put it on a more sustainable path and position it for the future [8] - The company is committed to supporting impacted employees and ensuring continued development efforts for the benefit of patients [9] - The company is focused on becoming a sustainable cash flow positive company while delivering integrated preventive health services and genetic insights [10] Other Important Information - The company regained compliance with NASDAQ listing standards by reconstituting its Board and executing a reverse stock split [5][32] - The company expects annualized cost savings of at least $35 million per year from the restructuring, with $12 million in one-time costs primarily related to severance and transition expenses [31] Q&A Session Summary Question: What is the plan for recovery? - The company regained NASDAQ compliance, deprioritized therapeutics, cut expenses, and is focusing on growing subscription services and leveraging its database for research collaborations [33][34][35][36] Question: Why was the 120 reverse stock split necessary? - The reverse stock split was necessary to regain compliance with NASDAQ's minimum bid price requirement of $1 per share [37] Question: What steps are being taken to make the business profitable? - The company is prioritizing subscription products, growing research partnerships, and reducing costs through restructuring and pausing therapeutic assets [39] Question: What goals are you looking to complete in 2025? - The company aims to grow subscriptions, develop database products for the pharmaceutical industry, and out-license therapeutic programs [40][41]

23andMe announced on Monday it would cut 40% of its workforce, representing more than 200 employees, as part of a restructuring at the company. The genetic testing company is also discontinuing its therapeutics business and winding down its clinical trials; it expects these changes to save $35 million annually.“We are taking these difficult but necessary actions as we restructure 23andMe and focus on the long-term success of our core consumer business and research partnerships,” said CEO and co-founder Anne ...

23andMe on Tuesday reported declining revenue in its most recent quarter, a day after the company said it will cut 40% of its workforce and shutter its therapeutics business as part of a business restructuring plan.The genetics company reported $44.1 million in revenue for the fiscal second quarter, down from $50 million in the same period last year. 23andMe's net loss narrowed to $59.1 million, or a $2.32 per share, from $75.27 million, or $3.17 per share, a year ago.The embattled genetic testing provider ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ____________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM___________ TO___________ Commission File Number 001-39587 _________________________________ ...

Financial Performance - Total revenue for Q2 FY25 was $44 million, a decrease of 12% compared to $50 million in the same period last year[5] - GAAP Net loss for Q2 FY25 was $59 million, representing a 21% improvement from a net loss of $75 million in the prior year[7] - Adjusted EBITDA for Q2 FY25 was a loss of $33 million, a 26% improvement compared to a loss of $45 million in the same period last year[8] - Total revenue for the three months ended September 30, 2023, was $44,071 thousand, a decrease of 11.7% compared to $49,999 thousand for the same period in 2022[19] - Net loss for the six months ended September 30, 2023, was $(128,503) thousand, compared to a net loss of $(179,894) thousand in the prior year, representing a 28.5% improvement[22] - Total comprehensive loss for the three months ended September 30, 2023, was $(59,103) thousand, compared to $(74,316) thousand in the prior year, indicating a reduction of 20.4%[19] - Net loss for Q3 2024 was $(59,103,000), compared to $(75,270,000) in Q3 2023, showing an improvement of 21.5%[23] - Total Adjusted EBITDA for the six months ended September 30, 2024, was $(68,574,000), compared to $(94,853,000) for the same period in 2023, indicating a 27.7% improvement[23] Revenue Streams - Membership services revenue grew to 21% of total revenue, up from 9% in the prior year quarter, reflecting a focus on higher margin recurring revenue streams[5] - The company reported no revenue from Therapeutics for both Q3 2024 and Q3 2023[23] Operating Expenses - Operating expenses for Q2 FY25 decreased by 17% to $84 million, down from $101 million in the same period last year[6] - Operating expenses for the three months ended September 30, 2023, totaled $83,575 thousand, a decrease of 17.2% compared to $100,860 thousand for the same period in 2022[19] - Stock-based compensation expense for Q3 2024 was $19,486,000, down from $23,741,000 in Q3 2023, reflecting a decrease of 17.5%[23] - Unallocated Corporate expenses for Q3 2024 were $(12,804,000), slightly higher than $(12,156,000) in Q3 2023[23] Cash and Assets - Cash and cash equivalents as of September 30, 2024, were $127 million, down from $216 million as of March 31, 2024[9] - Cash and cash equivalents decreased to $126,601 thousand as of September 30, 2024, down from $216,488 thousand on March 31, 2024[21] - Total assets decreased to $318,936 thousand as of September 30, 2024, compared to $395,167 thousand on March 31, 2024[21] - Total liabilities increased to $217,007 thousand as of September 30, 2024, compared to $206,647 thousand on March 31, 2024[21] Strategic Initiatives - The company launched a GLP-1 weight loss telehealth membership and enrolled thousands in a study on genetics and GLP-1 efficacy[2] - 23andMe published one of the largest genetic studies of sickle cell trait in collaboration with NIH and Johns Hopkins University[2] - The company is exploring raising additional capital and restructuring to improve financial condition and extend cash runway[10] - The company has regained compliance with Nasdaq listing requirements following a reverse stock split[3] - The company is focusing on improving its financial metrics and reducing losses in future quarters[23] Cash Flow - Net cash used in operating activities for the six months ended September 30, 2023, was $(84,200) thousand, an improvement from $(126,474) thousand in the prior year[22] - Cyber security incident expenses for Q3 2024 amounted to $1,523,000, with significant costs incurred in the previous periods[23]

Reduces workforce by roughly 40%; expects annualized cost savings of more than $35 million Discontinues development of therapeutics division and commences strategic alternatives process for all in-house therapeutic programs SUNNYVALE, Calif., Nov. 11, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME) (the “Company” or “23andMe”), a leading human genetics and preventive health company, today announced a business restructuring to streamline operations and reduce costs. In addition, 23andMe is disconti ...

SUNNYVALE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- An earlier release under the same headline should have noted 23andMe Holding Co. (Nasdaq: ME) (23andMe) will report financial results for the second quarter of fiscal year 2025 (FY2025) prior to the market opening on Tuesday, November 12, 2024 (the prior release incorrectly stated the results would be reported after the market closes). The Company will webcast a conference call at 8:00 a.m. Eastern Time on that date to discuss the quarter’s results and re ...

SUNNYVALE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME) (23andMe), a leading human genetics and biopharmaceutical company, announced today that it will report financial results for the second quarter of fiscal year 2025 (FY2025) after the market closes on Tuesday, November 12, 2024. The Company will webcast a conference call at 4:30 p.m. Eastern Time on that date to discuss the quarter’s results and report on business progress. The webcast can be accessed on the day of the even ...

23andMe said it appointed three new independent directors to its board on Monday. All seven of 23andMe's previous directors resigned in September over its "strategic direction." 23andMe is navigating obstacles that have concerned consumers. Insider Today NSIDER TODAY Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personali ...