Question-and-Answer SessionJason BazinetCitigroup Inc. Exchange Research I guess I'm going to -- I'm relatively new to your story. I don't know exactly how many years we've covered it. But when I went through sort of, at least backward-looking, sort of your strategy, and I was talking with Anthony about this, he said, "Oh, yes." He says you've got a pretty good handle in terms of what we're doing. He says, "You really need to meet Will because he was really the architect of this before he became our CFO." S ...

Summary of New York Times (NYT) 2025 Conference Call Company Overview - **Company**: The New York Times (NYT) - **Date**: September 04, 2025 - **Speaker**: Will Bardeen, CFO Key Points Digital Transformation Strategy - The New York Times has undergone a significant digital transformation since 2010, evolving from a traditional newspaper to a global digital subscription leader [7][8] - The strategy is termed the "essential subscription strategy," which aims to be an essential part of daily life for consumers [8] - The strategy consists of three pillars: 1. Being the best news destination globally 2. Offering leading lifestyle products (sports, games, cooking, shopping advice) 3. Integrating these products into a cohesive bundle [8] Financial Performance - Digital subscription revenue grew by 14% year-over-year, with AOP (Adjusted Operating Profit) growth of 17% [9] - As of the last quarter, the company reported 11.9 million total subscribers, with a target of reaching 15 million by 2027 [26][24] - The company has a total addressable market (TAM) of over 150 million registered users, with 50 to 100 million users visiting weekly [25][26] Revenue Streams - The New York Times has diversified its revenue streams, including digital subscriptions, advertising, affiliate, and licensing revenues, all of which have high incremental margins [15][16] - The advertising segment saw nearly 20% growth in the last quarter, attributed to an increase in engaged consumers and effective targeting using first-party data [43][45] AI and Technology Integration - The company is leveraging AI for various applications, including dynamic paywalls, personalized content recommendations, and enhanced ad targeting capabilities [28][51] - AI is seen as a critical component for driving engagement and conversion rates [28][42] Marketing Strategy - The marketing spend is approximately 5% of revenues, focusing on returns-driven paid media and brand marketing [58][60] - The company emphasizes organic growth through product-driven strategies rather than relying solely on marketing [68] Print Business Outlook - The print business is in secular decline, but it remains profitable and valuable for the company [74][76] - The New York Times continues to manage the print segment for its value while focusing on digital growth [76] Cash Allocation and M&A Strategy - The company aims to return at least 50% of free cash flow to shareholders while maintaining a strong balance sheet for potential M&A opportunities [78][80] - M&A activities will be strategically aligned with the essential subscription strategy and focus on high returns [83][84] Conclusion - The New York Times is confident in its growth trajectory, driven by a robust digital strategy, diversified revenue streams, and effective use of technology and marketing [16][50][88]

OS Therapies to Participate in Upcoming Investor Conferences in September 2025September 03, 2025 7:40 AM EDT | Source: OS TherapiesNew York, New York--(Newsfile Corp. - September 3, 2025) - OS Therapies Inc. (NYSE American: OSTX) ("OS Therapies" or "the Company"), a clinical-stage cancer immunotherapy and antibody drug conjugate biotechnology company, today announced that it will participate in the upcoming investor conferences:Cantor Global Healthcare Conference 2025 being held September 3-5, ...

OS Therapies Completes Exercise Inducement and Exchange Offer for All Remaining Outstanding Warrants Issued in Connection with December 2024 FinancingSeptember 02, 2025 6:00 AM EDT | Source: OS TherapiesAll remaining holders of outstanding warrants with $1.12 per share exercise price have participated, raising $3.7 million in gross proceeds to be used to accelerate OST-HER2 commercial launch preparationsNew warrants issued have an exercise price of $3.00 per share with a forced exercise provis ...

Core Viewpoint - OS Therapies has terminated its Equity Purchase Agreement with Square Gate Capital Master Fund, effective August 26, 2025, and has successfully raised $4.2 million through a warrant exercise inducement and exchange offering to fund operations into mid-2026 [1][2]. Group 1: Financial Developments - The termination of the Equity Purchase Agreement (ELOC) with Square Gate Capital Master Fund is effective August 26, 2025 [1]. - The company raised $4.2 million in gross proceeds from a recent warrant exercise inducement and exchange offering, which will support operations through mid-2026 [2]. Group 2: Clinical Trials and Product Development - The treatment phases of the Phase 2b OST-HER2 clinical trial in osteosarcoma and the Phase 1b OST-504 clinical trial in prostate cancer are now complete, leading to a projected monthly burn rate in the second half of 2025 that is significantly lower than in the first half [3]. - OS Therapies plans to allocate capital primarily to drive towards approval for OST-HER2 in osteosarcoma while analyzing data from OST-504 for future development steps [3]. Group 3: Company Overview and Product Pipeline - OS Therapies is focused on developing treatments for osteosarcoma and other solid tumors, with its lead asset, OST-HER2, leveraging immune-stimulatory effects to target the HER2 protein [4]. - OST-HER2 has received multiple designations from the U.S. FDA, including Rare Pediatric Disease Designation and Fast-Track designation, and the company plans to submit a Biologics Licensing Application (BLA) for OST-HER2 in 2025 [4]. - The company is also advancing its next-generation Antibody Drug Conjugate (ADC) platform, known as tunable ADC (tADC), which utilizes proprietary technology for enhanced delivery of therapeutic payloads [5].

Core Insights - The article emphasizes the importance of liquidity in assessing a company's ability to meet debt obligations and suggests that companies with adequate liquidity can drive business growth and deliver higher returns [1][2][3] Group 1: Liquidity Measures - Current Ratio: A measure of current assets relative to current liabilities, with an ideal range of 1-3 indicating a healthy balance [4] - Quick Ratio: Indicates a company's ability to pay short-term obligations, with a desirable ratio of more than 1 [5] - Cash Ratio: The most conservative measure, focusing on cash and cash equivalents relative to current liabilities, with a ratio greater than 1 being desirable but potentially indicating inefficiency [6] Group 2: Screening Parameters - Asset Utilization: A measure of efficiency, calculated as total sales over the last 12 months divided by the average total assets, with a higher ratio than the industry average indicating efficiency [7] - Growth Score: A proprietary measure added to ensure that liquid and efficient stocks have solid growth potential, with a score of A or B indicating better performance [8] Group 3: Stock Recommendations - The New York Times Company (NYT): Reported second-quarter 2025 adjusted earnings per share of 58 cents, exceeding estimates, with total revenues of $685.9 million, a 9.7% year-over-year increase [11][12] - Dillard's, Inc. (DDS): Reported second-quarter 2025 net sales of $1.5 billion, up 1.6% year over year, with adjusted earnings per share of $4.66, surpassing estimates by 23% [14][15] - Newmont Corporation (NEM): Achieved second-quarter revenues of approximately $5.32 billion, a 20.8% increase from the prior year, driven by higher gold prices [17][18] - Frontdoor, Inc. (FTDR): Reported revenues of $617 million for the last quarter, a 14% year-over-year increase, with a gross margin expansion of 130 basis points to 58% [20][21]

Core Insights - OS Therapies Inc. will report its second quarter 2025 financial results and provide a business update on August 19, 2025 [1] Company Overview - OS Therapies is a clinical-stage oncology company focused on developing treatments for Osteosarcoma and other solid tumors [2] - The lead asset, OST-HER2, is an immunotherapy that targets the HER2 protein and has received multiple designations from the U.S. FDA and European Medicines Agency [2] - Positive data from a Phase 2b clinical trial of OST-HER2 in lung metastatic osteosarcoma showed statistically significant benefits in the 12-month event-free survival primary endpoint [2] - The company plans to submit a Biologics Licensing Application for OST-HER2 in 2025, which could lead to a Priority Review Voucher if approved [2] - OST-HER2 has also shown preclinical efficacy in breast cancer models and has been conditionally approved for treating canines with osteosarcoma [2] Product Development - OS Therapies is advancing its next-generation Antibody Drug Conjugate (ADC) platform, known as tunable ADC (tADC), which utilizes proprietary technology for tailored antibody-linker-payload candidates [3] - The tADC platform allows for the delivery of multiple payloads per linker, enhancing treatment options [3]

Core Viewpoint - New York Times Co. (NYT) is experiencing solid improvement in earnings estimates, which is expected to positively impact its stock price momentum [1][2]. Estimate Revisions - The trend in estimate revisions reflects growing analyst optimism regarding the earnings prospects of New York Times, which is likely to influence its stock price positively [2]. - For the current quarter, the earnings estimate is $0.54 per share, representing a 20.0% increase from the previous year [6]. - Over the last 30 days, two estimates have been revised upward with no negative revisions, leading to a 10.2% increase in the Zacks Consensus Estimate for the current quarter [6]. - For the full year, the expected earnings are $2.28 per share, indicating a 13.4% increase from the prior year [7]. - The consensus estimate for the current year has also increased by 6.16% due to three upward revisions and no negative changes [7][8]. Zacks Rank - New York Times has achieved a Zacks Rank 2 (Buy), indicating favorable estimate revisions that suggest strong potential for stock performance [9]. - The Zacks Rank system has a proven track record, with Zacks 1 (Strong Buy) and 2 (Buy) stocks significantly outperforming the S&P 500 [9]. Stock Performance - New York Times shares have increased by 6.7% over the past four weeks, reflecting investor confidence in its earnings growth prospects [10].

Core Viewpoint - New York Times Co. (NYT) has shown strong stock performance, with a 3.2% increase over the past month and an 11.8% gain since the start of the year, outperforming both the Zacks Consumer Staples sector and the Zacks Publishing - Newspapers industry [1] Financial Performance - The company has consistently exceeded earnings expectations, reporting an EPS of $0.58 against a consensus estimate of $0.50 in its last earnings report on August 6, 2025 [2] - For the current fiscal year, NYT is projected to achieve earnings of $2.24 per share on revenues of $2.77 billion, reflecting an 11.44% increase in EPS and a 7.08% increase in revenues [3] - The next fiscal year forecasts earnings of $2.40 per share on revenues of $2.95 billion, indicating year-over-year changes of 7.18% and 6.39%, respectively [3] Valuation Metrics - NYT's stock trades at 26 times the current fiscal year EPS estimates, aligning with the peer industry average, while on a trailing cash flow basis, it trades at 22.4 times compared to the peer group's average of 19 times [7] - The stock has a PEG ratio of 1.52, which does not position it among the top value stocks [7] Style Scores and Zacks Rank - NYT has a Value Score of C, with Growth and Momentum Scores rated A, resulting in a combined VGM Score of B [6] - The stock holds a Zacks Rank of 2 (Buy), supported by favorable earnings estimate revisions from analysts [8] - NYT meets the criteria for selection based on Zacks Rank and Style Scores, suggesting potential for further stock price appreciation in the near term [9]

Core Insights - The New York Times Company reported significant growth in digital ad sales and subscriptions, leading to a notable increase in revenue and net income for the latest quarter [1][3] - The stock price of NYT rose over 11% week to date, reflecting positive market sentiment following the earnings report [2] Financial Performance - NYT's second-quarter revenue grew nearly 10% year over year, reaching approximately $686 million [3] - GAAP net income increased by 27% to just under $83 million, while non-GAAP adjusted earnings per share rose from $0.45 to $0.58 [3][5] - Analysts had expected revenue of over $670 million and adjusted net income of $0.52 per share, indicating that the company exceeded these expectations [5] Future Outlook - Management anticipates a 13% to 16% year-over-year increase in digital subscriptions for the third quarter, with digital ad revenue expected to rise at low-double-digit rates [5] - Following the positive earnings report and guidance, several analysts raised their price targets for NYT shares, with new assessments of $56 and $62 per share from Guggenheim and Huber Research respectively [6]