Core Viewpoint - Regeneron Pharmaceuticals has experienced a significant decline in stock price, down 18.9% for 2024, but has recently rebounded from three-year lows following its Q4 earnings report, which showed positive financial results and the initiation of a dividend [3][4][9]. Financial Performance - Regeneron reported Q4 2024 EPS of $12.07, exceeding consensus estimates by $0.71, with revenues increasing 10.3% year-over-year to $3.79 billion, surpassing analyst expectations of $3.74 billion [9]. - Non-GAAP net income rose 2% year-over-year to $1.39 billion, and collaboration revenue from Sanofi increased to $3.924 billion from $3.127 billion [9]. - The company initiated its first-ever dividend of $0.88 and expanded its stock buyback program by an additional $3 billion, totaling $4.5 billion [4][9]. Key Products and Market Position - Dupixent, Regeneron's leading product, generated $14.15 billion in sales for 2024, reflecting a 22% year-over-year growth [6]. - Eylea, another significant product, generated $5.9 billion in the U.S. but saw only a 1% increase in sales year-over-year, indicating a slowdown in growth [7]. - Libtayo, a newer product, experienced a 40% year-over-year sales increase to $1.22 billion, showing potential for future growth [7]. Future Outlook - Regeneron is seeking FDA approval to expand Dupixent's use, which could potentially add 300,000 new patients in the U.S. alone [6]. - The company has guided for a non-GAAP gross margin on net product sales between 87% to 88% for 2025, with R&D expenses projected between $5 billion and $5.2 billion [10]. - The stock has a 12-month price forecast averaging $973.13, with a potential upside of 37.65% based on analyst ratings [9][12]. Technical Analysis - Regeneron stock is attempting to form a cup and handle pattern, indicating a potential bullish breakout if it exceeds previous highs [10][11]. - The stock has shown signs of recovery after hitting a three-year low, with key Fibonacci support levels identified [11].

Financial Data and Key Metrics Changes - Total revenue for 2024 grew by 12.5% year-over-year to $60.2 million, with net income at $5 million and adjusted net income increasing by 18.6% to $8.3 million compared to 2023 [8][10][32] - Operating cash flow generated a net inflow of $13 million for the full year 2024, with cash and cash equivalents exceeding $165.9 million [10][34] - Gross profit for Q4 2024 increased by 2.5% to $11.8 million, with a gross margin of 74.1%, down from 81.3% in Q4 2023 [27] Business Line Data and Key Metrics Changes - The B2C mobile app business saw a 14.3% increase in active paying subscribers, reaching over 1 million by the end of 2024 [10][35] - AI/AR cloud solutions and subscription revenue grew by 25.4% to $15.1 million, representing 95% of total revenue in Q4 2024 [25] - Licensing revenue decreased by 72.2% in Q4 2024 to $0.5 million, indicating a shift towards a recurring subscription revenue model [26] Market Data and Key Metrics Changes - Positive momentum was noted in North America, Western Europe, and developing markets like Brazil, with strong demand for AI-powered features [11] - The enterprise customer base increased by 24 brand clients, totaling 732 brand clients with over 822,000 SKUs onboarded [36] Company Strategy and Development Direction - The company aims to deepen its presence in the beauty, fashion, and skin segments while exploring cross-sell opportunities and broadening product offerings [22] - The acquisition of Wanna from Farfetch is expected to enhance market reach and expand the total addressable market, particularly in luxury brands [15][39] - The focus remains on continuous R&D in generative AI to drive user engagement and loyalty [14][76] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the B2B market, noting challenges from inflation and potential tariffs affecting client spending [44][46] - The guidance for 2025 projects total revenue growth of 13% to 14.5%, with B2C revenue expected to grow faster than B2B [23][49] Other Important Information - The company reported a decrease in operating expenses by 3.6% in Q4 2024, attributed to lower R&D and G&A expenses [28] - The adjusted net margin for the full year 2024 was 13.8%, reflecting effective cost control alongside revenue growth [33][37] Q&A Session Summary Question: What is the situation with enterprise clients regarding spending on services? - Management noted that while the B2B market remains challenging, there is still interest from brands to invest in digital solutions, although they are cautious about spending [44][46] Question: What was the B2B revenue contribution last year? - The B2B revenue contribution was approximately 40% last year, with expectations for it to drop to 30% to 40% in 2025 [52][53] Question: How will operating expenses be managed in light of reduced gross margins? - Management indicated that they will continue to invest in growth while maintaining financial discipline, ensuring that expenses do not create financial pressures [55][56] Question: What is the competitive landscape for the fashion segment post-acquisition of Wanna? - Management stated that Wanna is a leader in the fashion space with significant brand partnerships, and the acquisition strengthens their position in the market [58][60] Question: What is the timeline for the full integration of Wanna? - Integration is expected to continue through the first half of the year, with a go-to-market strategy planned for later in the year [72] Question: Where will the company focus its investments in the coming year? - The primary focus will be on R&D for generative AI, alongside digital marketing efforts to attract app users [76]

Financial Data and Key Metrics Changes - Total revenue for full year 2024 grew by 12.5% year-over-year to $60.2 million, with net income of $5 million and adjusted net income increasing by 18.6% to $8.3 million compared to 2023 [8][32] - Operating cash flow generated a net inflow of $13 million for the full year 2024, with cash and cash equivalents totaling over $165.9 million [9][34] - Gross profit for Q4 2024 increased by 2.5% to $11.8 million, but gross margin decreased to 74.1% from 81.3% in Q4 2023 [27] Business Line Data and Key Metrics Changes - The AI/AR cloud solutions and mobile app subscription revenue grew by 25.4% to $15.1 million in Q4 2024, representing 95% of total revenue for the quarter [25] - The B2C mobile app business saw active paying subscribers increase by 14.3% year-over-year, reaching over 1 million by the end of 2024 [9][35] - Licensing revenue decreased by 72.2% in Q4 2024 to $0.5 million, indicating a shift towards a recurring subscription revenue model [26] Market Data and Key Metrics Changes - Positive momentum was noted in North America, Western Europe, and developing markets like Brazil, with strong demand for AI-powered features [10] - The enterprise customer base increased by 24 brand clients, totaling 732 brand clients with over 822,000 SKUs onboarded [36] Company Strategy and Development Direction - The company aims to deepen its presence in the beauty, fashion, and skin segments while exploring cross-sell opportunities and broadening product offerings [22] - The acquisition of Wanna from Farfetch is expected to enhance market reach and strengthen competitive positioning in the beauty and fashion space [14][39] - The focus on R&D, particularly in Generative AI, is a key priority for the company moving forward [76] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the B2B market, noting challenges but also a solid pipeline and interest from brands [44][48] - The guidance for total revenue growth in 2025 is projected to range from 13% to 14.5% compared to 2024 [23][40] Other Important Information - The company is integrating Wanna into its operations, with expectations for a full integration timeline within the first half of the year [72] - The company is committed to maintaining financial discipline while continuing to invest in AI development and R&D [56][76] Q&A Session Summary Question: What is the situation with your enterprise clients regarding spending? - Management noted that while the B2B market remains challenging, there is still interest from brands to invest in digital solutions, although they are cautious about spending [44][46] Question: What was the B2B revenue contribution last year? - Last year, B2B revenue was approximately 40% of total revenue, but it is expected to decrease as B2C continues to grow [52][53] Question: How do you plan to manage operating expenses in light of reduced gross margins? - Management indicated that they will continue to invest in growth while maintaining financial discipline, ensuring that expenses do not create financial pressures [54][56] Question: Can you discuss the competitive landscape after acquiring Wanna? - Management stated that Wanna is a leader in the fashion space with significant brand partnerships, and the acquisition strengthens their position in the market [58][60] Question: What is the timeline for the full integration of Wanna? - Integration is expected to continue through the first half of the year, with a focus on aligning sales, marketing, and product development efforts [72] Question: Where will the company focus its investments in the coming year? - The primary focus will be on R&D for Generative AI, alongside digital marketing efforts to attract app users [76]

Exhibit 99.1 Perfect Corp. Reports Unaudited Financial Results for the Three Months and Full Year Ended December 31, 2024 New York – February 26, 2025 – Perfect Corp. (NYSE: PERF) ("Perfect" or the "Company"), a global leader in providing artificial intelligence ("AI") and augmented reality ("AR") Software-as-a-Service ("SaaS") solutions to beauty and fashion industries, today announced its unaudited financial results for the three months and the full year ended December 31, 2024. Highlights for the Three M ...

Core Insights - The individual has retired after over 43 years in investment research, now operating independently to provide actionable investment insights [1] - The focus is on rules and factor-based equity investing strategies, emphasizing the use of numbers to inspire human intelligence-driven investment narratives [1] - The approach combines quantitative analysis with classic fundamental analysis to uncover the true story of companies and their stocks, aiming to predict future performance [1] Investment Strategy - The individual has extensive experience covering a wide range of stocks, including large cap, small cap, micro cap, value, growth, and special situations [1] - Previous roles included managing a high-yield fixed-income fund and conducting research on quantitative asset allocation strategies, which are foundational to modern Robo Advising [1] - The individual has authored two books on stock selection and analysis, showcasing a commitment to investor education [1] Future Outlook - The new phase on Seeking Alpha aims to provide valuable insights, with an open invitation for feedback from the audience [1] - The individual expresses a willingness to engage with criticism, indicating a focus on continuous improvement in delivering investment insights [1]

Core Viewpoint - JPMorgan's shares have reached an all-time high, reflecting strong market performance and positive investor sentiment, with a year-to-date increase of 15.4% [1] Group 1: Stock Performance - JPMorgan's stock closed at $279.23, marking a significant rise compared to its peers, with Citigroup up 20.2% and Bank of America up 6.9% this year [1] - The stock has outperformed the industry average growth of 13.4% and the S&P 500's growth of 3.9% [1] Group 2: Financial Indicators - Technical indicators show that JPMorgan is trading above its 50-day and 200-day moving averages, indicating a bullish trend [3] - The company's net interest income (NII) is projected to reach nearly $94 billion in 2025, up from $93 billion in 2024, driven by a high-interest rate environment [8] Group 3: Capital Markets and Investment Banking - JPMorgan's capital markets business is recovering, with investment banking fees increasing by 37% year-over-year, following previous declines [9] - The company expects markets revenues to contribute approximately $4 billion to firm-wide NII this year, a significant increase from $1 billion in 2024 [10] Group 4: Expansion and Acquisitions - JPMorgan has been actively pursuing acquisitions, including increasing its stake in Brazil's C6 Bank and acquiring the failed First Republic Bank, which has positively impacted its financials [13][14] - The company plans to open over 500 branches and renovate around 1,700 locations by the end of 2027, enhancing its retail banking presence [15] Group 5: Asset Quality and Challenges - JPMorgan's asset quality has been declining, with provisions increasing significantly over the past few years due to a challenging macroeconomic environment [21] - The mortgage business has faced challenges due to high mortgage rates, leading to a negative CAGR of 13.6% over the past three years [19] Group 6: Earnings Estimates - Earnings estimates for JPMorgan for 2025 indicate an 8.4% decline year-over-year, primarily due to weakness in the mortgage banking sector and rising non-interest expenses [26] - However, earnings for 2026 are projected to grow by 7.3% [27] Group 7: Valuation and Investor Sentiment - JPMorgan's stock is currently trading at a forward P/E of 15.14X, slightly above the industry average of 14.52X, indicating a premium valuation [30] - Despite the premium valuation, the company's strong market position and strategic growth plans suggest potential for solid long-term returns [32]

Group 1 - The article emphasizes the advantages of a dividend-focused value investment strategy, highlighting capital preservation and steady income growth as key benefits [1] - The author discusses a diversified dividend stock portfolio that prioritizes high-quality value stocks, which are expected to provide meaningful growth and long-term safety [1] Group 2 - The author has disclosed a beneficial long position in shares of specific companies, indicating a personal investment in BF.A, KO, UNLYF, and VFC [2] - The article is presented as a personal opinion and does not constitute investment or tax advice, emphasizing the author's status as a private investor [3]

Core Viewpoint - PagSeguro is considered undervalued following a recent pullback in its stock price, indicating potential investment opportunities for value investors [1]. Company Overview - PagSeguro operates in various business areas, although specific details on these areas are not provided in the text [1]. Investment Perspective - The article suggests that the author has a long position in PagSeguro shares, indicating confidence in the company's future performance [2]. - The author emphasizes a cautious approach to investment, suggesting that a "hold" position means to refrain from buying or selling the stock, as there may be better opportunities available [1].

Core Viewpoint - Intel's recent earnings report and management comments indicate a focus on future growth and strategic direction for the company [1] Financial Performance - Intel's stock price was reported at a decrease of 2.90% on January 30, 2025, reflecting market reactions to the earnings report [1] Management Insights - Management provided comments regarding the company's future, emphasizing strategic initiatives and potential growth areas [1]

Group 1 - Nisun International Enterprise Development Group Co., Ltd. (NASDAQ: NISN) is a major supplier in China for corn, eggs, and gold, established in 2005 [1] - The company also offers financing solutions for small and medium enterprises and is in the process of expanding its services [1]