Group 1 - Valhi, Inc. (VHI) is facing challenges due to lower TiO2 prices, which significantly impact its business despite a positive effect from consolidating a business after a joint venture buyout [2] - The Valkyrie Trading Society is a team of analysts focused on high conviction and obscure developed market ideas, aiming for downside-limited investments that can generate non-correlated and outsized returns in the current economic environment [2] - The Value Lab offers a portfolio with real-time updates, 24/7 chat support, regular global market news reports, feedback on member stock ideas, new trades monthly, quarterly earnings write-ups, and daily macro opinions [2]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - Shoulder Innovations, Inc. (SI) is up 14% at $13.01 [3] - BILL Holdings, Inc. (BILL) is up 11% at $52.14 [3] - On Holding AG (ONON) is up 8% at $38.24 [3] - CuriosityStream Inc. (CURI) is up 8% at $4.08 [3] - Clearwater Analytics Holdings, Inc. (CWAN) is up 7% at $19.80 [3] - Valhi, Inc. (VHI) is up 7% at $14.54 [3] - Beam Global (BEEM) is up 7% at $2.29 [3] - FGI Industries Ltd. (FGI) is up 6% at $5.66 [3] - The Honest Company, Inc. (HNST) is up 6% at $2.68 [3] - China Automotive Systems, Inc. (CAAS) is up 5% at $4.40 [3] Premarket Losers - Graphjet Technology (GTI) is down 22% at $3.02 [4] - Black Rock Coffee Bar, Inc. (BRCB) is down 10% at $21.90 [4] - Rain Enhancement Technologies Holdco, Inc. (RAIN) is down 9% at $4.90 [4] - Stereotaxis, Inc. (STXS) is down 9% at $2.59 [4] - Biohaven Ltd. (BHVN) is down 8% at $7.82 [4] - Epsium Enterprise Limited (EPSM) is down 7% at $3.15 [4] - Cycurion, Inc. (CYCU) is down 7% at $3.13 [4] - Galecto, Inc. (GLTO) is down 6% at $22.09 [4] - Anbio Biotechnology (NNNN) is down 6% at $21.68 [4] - Ridgetech, Inc. (RDGT) is down 5% at $3.46 [4]

Core Insights - VitalHub Corp. reported a significant increase in Annual Recurring Revenue (ARR), which rose 75% year-over-year to $93.7 million, and total revenue increased 94% year-over-year to $32.0 million [1][4][9] - The company achieved an adjusted EBITDA of $7.2 million, reflecting a 58% year-over-year increase [1][9] Financial Performance - For the third quarter of 2025, ARR was $93,693,789, up from $79,589,081 in the previous quarter, marking an 18% increase [4] - Total revenue for Q3 2025 was $32,044,030, compared to $16,509,135 in Q3 2024, representing a 94% increase [6][7] - Gross profit as a percentage of revenue remained stable at 81% for both Q3 2025 and Q3 2024 [7][8] - Net income before income taxes for Q3 2025 was $1,586,383, down 33% from $2,360,258 in the prior year [7][9] Growth Drivers - The company reported organic growth of $1,711,335 or 2% in Q3 2025, while acquisition growth contributed $12,000,000 or 15% [7] - For the nine months ended September 30, 2025, total revenue was $77,576,544, a 62% increase from $48,003,531 in the same period of 2024 [6][9] - Cash on hand as of September 30, 2025, was $123,684,500, significantly up from $56,574,904 at the end of 2024 [9] Strategic Focus - The CEO emphasized the importance of integrating recent acquisitions and optimizing commercial and operational alignment [3] - VitalHub is pursuing both organic growth opportunities and an aggressive M&A strategy to enhance its market position [10]

Financial Performance - Valhi reported a net loss of $22.2 million, or $0.78 per share, in Q3 2025, compared to a net income of $57.5 million, or $2.01 per share, in Q3 2024[1] - For the first nine months of 2025, Valhi's net loss was $4.4 million, or $0.15 per share, compared to a net income of $85.2 million, or $2.99 per share, in the same period of 2024[1] - Net income attributable to Valhi stockholders for the nine months ended September 30, 2025, was a loss of $4.4 million, a significant decline from a profit of $85.2 million in the same period of 2024[15] - Basic and diluted net income per share for Q3 2025 was $(0.78), compared to $2.01 in Q3 2024[15] Segment Performance - The Chemicals Segment's net sales were $456.9 million in Q3 2025, a decrease of $27.8 million, or 6%, from Q3 2024, and $1.4 billion for the first nine months of 2025, down $22.9 million, or 2%, from the same period in 2024[3] - The Component Products Segment's net sales increased to $40.0 million in Q3 2025 from $33.6 million in Q3 2024, and $120.6 million in the first nine months of 2025 compared to $107.5 million in the same period of 2024[7] - The Real Estate Management and Development Segment's net sales decreased to $6.6 million in Q3 2025 from $15.3 million in Q3 2024, and $20.8 million in the first nine months of 2025 compared to $52.4 million in the same period of 2024[8] Operating Income and Expenses - The Chemicals Segment's operating loss in Q3 2025 was $15.9 million, down from an operating income of $42.6 million in Q3 2024, and operating income for the first nine months of 2025 was $35.6 million compared to $105.9 million in the same period of 2024[4] - Total operating income for the nine months ended September 30, 2025, was $94.2 million, down from $154.0 million in 2024[15] - Corporate expenses increased by 11% in Q3 2025 compared to Q3 2024, primarily due to higher litigation fees[9] Sales and Pricing Trends - Average TiO2 selling prices declined by 7% in Q3 2025 compared to Q3 2024 and by 2% in the first nine months of 2025 compared to the same period in 2024[3] - The chemicals segment reported net sales of $456.9 million for the three months ended September 30, 2025, down 5.7% from $484.7 million in 2024[15] - The chemicals segment experienced a 6% decrease in net sales for the three months ended September 30, 2025, compared to the same period in 2024[16] - TiO2 product pricing decreased by 7% for the three months ended September 30, 2025, compared to the same period in 2024[16] Interest and Production Costs - Interest expense rose by $1.5 million in Q3 2025 and $5.3 million in the first nine months of 2025 compared to the same periods in 2024, mainly due to higher debt levels and interest rates[9] - Interest expense increased to $41.9 million for the nine months ended September 30, 2025, compared to $36.6 million in the same period of 2024[15] - The Chemicals Segment's unabsorbed fixed production costs related to decreased production volumes in Q3 2025 were approximately $27 million[6] Other Financial Gains - The company reported a gain of $64.5 million on the remeasurement of investment in TiO2 manufacturing joint venture for the three months ended September 30, 2025[15]

Financial Performance - In Q3 2025, the company reported a net loss of $22.2 million or $0.78 per diluted share, compared to a net income of $57.5 million or $2.01 per diluted share in Q3 2024[108]. - For the first nine months of 2025, the company reported a net loss of $4.4 million or $0.15 per diluted share, down from a net income of $85.2 million or $2.99 per diluted share in the same period of 2024[109]. - The company anticipates consolidated operating income for 2025 to be lower compared to 2024 due to various factors impacting the Chemicals Segment[112]. - Gross margin as a percentage of net sales fell to 10% in Q3 2025 from 21% in Q3 2024, primarily due to lower average TiO2 selling prices and reduced production volumes[128]. - Consolidated operating income decreased to $94.2 million in the first nine months of 2025, down $59.8 million from $154.0 million in the same period of 2024[191]. Chemicals Segment Performance - The Chemicals Segment experienced an operating loss of $15.9 million in 2025, compared to an operating income of $42.6 million in 2024, primarily due to decreased sales volumes and higher production costs[111]. - Net sales for the Chemicals Segment decreased by 6% to $484.7 million in Q3 2025 compared to Q3 2024, primarily due to a 7% decrease in average TiO2 selling prices and a 3% decrease in sales volumes[122]. - The Chemicals Segment's cost of sales increased by 7% to $384.4 million in Q3 2025, influenced by unfavorable fixed cost absorption and higher inventory costs[126]. - Operating loss for the Chemicals Segment was $15.9 million in Q3 2025, a decrease of $58.5 million compared to operating income of $42.6 million in Q3 2024[133]. - The Chemicals Segment's operating income for the first nine months of 2025 decreased to $35.6 million, down $70.3 million from $105.9 million in the same period of 2024[134]. Component Products Segment Performance - The Component Products Segment saw an increase in operating income to $17.0 million in 2025 from $12.1 million in 2024, attributed to higher expected marine components sales[113]. - The Component Products Segment's operating income increased to $4.8 million in Q3 2025, up 42% from $3.3 million in Q3 2024[156]. - Total net sales for the Component Products Segment rose by 19% to $40 million in Q3 2025, driven by higher sales in security products and marine components[157]. - The Component Products Segment's gross margin as a percentage of net sales increased by 2% for the first nine months of 2025 compared to the same period in 2024, primarily due to higher sales and a favorable customer and product mix in marine components[160]. Real Estate Management and Development Segment Performance - The Real Estate Management and Development Segment reported operating income of $41.6 million in 2025, up from $36.0 million in 2024, driven by higher expected infrastructure reimbursements[113]. - Land sales revenue recognized in the third quarter of 2025 was $6.6 million, down from $15.3 million in the same period of 2024, reflecting a decreased pace of development activity[169]. - The Real Estate Management and Development Segment recognized $20.8 million in land sales revenue for the first nine months of 2025, compared to $52.2 million in the same prior year period[169]. Liquidity and Capital Expenditures - The company expects capital expenditures for 2025 to be approximately $49 million, with $45 million allocated to the Chemicals Segment and $4 million to the Component Products Segment[211][212]. - The company has authorized the repurchase of up to 2.0 million shares of Kronos common stock, with approximately 1.0 million shares available for repurchase as of September 30, 2025[216]. - The company plans to fund capital expenditures through cash generated from operations or borrowing under existing credit facilities, with potential delays based on market conditions[213]. Debt and Interest Expense - Interest expense increased by $1.5 million in the third quarter of 2025 and $5.3 million in the first nine months of 2025 due to higher overall debt levels and interest rates[182]. - Interest expense is expected to be higher in 2025 compared to 2024 due to increased debt balances from the LPC acquisition and higher interest rates on new debt[183]. - Total outstanding debt obligations included €426.174 million on Kronos' 9.50% Senior Secured Notes due March 2029, with a carrying amount of $502.3 million[203]. Market Conditions and Risks - The company expects long-term demand for TiO2 to grow by 2% to 3% per year, consistent with GDP growth expectations[112]. - The Chemicals Segment expects weak customer demand to persist, with no meaningful sales volume improvement anticipated in the near term[147]. - Company is exposed to market risks including currency exchange rates, interest rates, equity security prices, and raw material prices[235]. - No material changes in market risks since the filing of the 2024 Annual Report[235].

Core Insights - Valhi, Inc. reported a significant net loss of $22.2 million, or $0.78 per share, in Q3 2025, contrasting with a net income of $57.5 million, or $2.01 per share, in Q3 2024 [1] - For the first nine months of 2025, the company experienced a net loss of $4.4 million, or $0.15 per share, compared to a net income of $85.2 million, or $2.99 per share, in the same period of 2024 [1] - The decline in net income is attributed to lower operating results from the Chemicals Segment, a non-cash gain in Q3 2024 related to the acquisition of Louisiana Pigment Company, and increased tax expenses due to new legislation in Germany [1] Chemicals Segment Performance - The Chemicals Segment's net sales were $456.9 million in Q3 2025, down $27.8 million, or 6%, from Q3 2024, and $1.4 billion for the first nine months of 2025, down $22.9 million, or 2%, from the same period in 2024 [3] - The decrease in sales is primarily due to lower average TiO2 selling prices and reduced sales volumes in European and export markets, partially offset by higher sales volumes in North America [3] - Average TiO2 selling prices fell by 6% in Q3 2025 compared to Q3 2024 and by 2% in the first nine months of 2025 compared to the same period in 2024 [3] Operating Income and Loss - The Chemicals Segment reported an operating loss of $15.9 million in Q3 2025, down from an operating income of $42.6 million in Q3 2024, and an operating income of $35.6 million for the first nine months of 2025, down from $105.9 million in the same period of 2024 [4] - The decline in operating income is attributed to unfavorable fixed cost absorption due to reduced operating rates, higher inventory costs, and currency fluctuations [4][5] - Unabsorbed fixed production costs in Q3 2025 were approximately $27 million, with an additional $45 million recognized in the first nine months of 2025 due to reduced operating rates [4] Component Products Segment - The Component Products Segment's net sales increased to $40.0 million in Q3 2025 from $33.6 million in Q3 2024, and to $120.6 million in the first nine months of 2025 from $107.5 million in the same period of 2024 [6] - The increase in sales is driven by higher security product sales to the government market and increased marine component sales [6] - Operating income for this segment rose to $4.8 million in Q3 2025 from $3.3 million in Q3 2024, and to $17.0 million in the first nine months of 2025 from $12.1 million in the same period of 2024 [6] Real Estate Management and Development Segment - The Real Estate Management and Development Segment reported net sales of $6.6 million in Q3 2025, down from $15.3 million in Q3 2024, and $20.8 million in the first nine months of 2025, down from $52.4 million in the same period of 2024 [7] - The decrease in land sales revenue is attributed to a slower pace of development activities for previously sold parcels [7] - The segment recognized tax increment infrastructure reimbursements of $34.2 million in the first nine months of 2025, compared to $14.2 million in the same period of 2024 [7] Corporate Expenses and Interest - Corporate expenses increased by 11% in Q3 2025 compared to Q3 2024, mainly due to higher litigation fees [8] - Interest income decreased by $0.8 million in Q3 2025 and $4.0 million in the first nine months of 2025, primarily due to lower average interest rates and decreased cash balances [8] - Interest expense rose by $1.5 million in Q3 2025 and $5.3 million in the first nine months of 2025, driven by higher debt levels and interest rates [8]

Core Insights - VitalHub Corp. will release its financial results for Q3 2025 on November 6, 2025, after market close, followed by a conference call on November 7, 2025, at 9:00 am EST [1] Company Overview - VitalHub is a leading software company focused on empowering health and human services providers globally, with a product suite that includes electronic health records, operational intelligence, and workforce automation solutions [2] - The company serves over 1,000 clients across the UK, Canada, and other regions, and has a robust growth strategy that includes both organic opportunities and an aggressive M&A plan [2] - VitalHub is headquartered in Toronto and employs over 500 individuals globally, including a dedicated Innovations Lab in Sri Lanka [2]

Core Viewpoint - Valhi, Inc. is set to announce its third quarter 2025 earnings on November 6, 2025, after market close, pending the completion of quarter-end closing procedures [1] Company Overview - Valhi, Inc. operates in multiple industries, including chemicals (specifically TiO2), component products (such as security products and recreational marine components), and real estate management and development [1]

Core Insights - VitalHub Corp. has announced its first deployment of Novari Health's technology in the UK, expanding its geographic footprint beyond Canada and Australia [1][2] - The South West Provider Collaborative, which serves over 5.5 million people, will utilize Novari's electronic referral and bed management solution across multiple mental health service lines [2][5] Company Overview - Novari Health, a subsidiary of VitalHub, specializes in cloud-based referral management and wait list management software solutions aimed at improving access to care and operational efficiency [8][10] - VitalHub is a leading software company focused on empowering health and human services providers globally, with a comprehensive product suite that includes electronic health records and operational intelligence [9][10] Technology Features - The Novari technology is designed specifically for mental health, providing real-time bed visibility, structured workflows, and wait list management to enhance patient care [3][4] - Optional AI-enhanced analytics are available to provide real-time data on patient waiting times, improving resource utilization and operational efficiency [4] Impact on Healthcare - The deployment of Novari's technology aims to optimize bed usage and improve patient care by ensuring timely access to mental health services [5][6] - The South West Provider Collaborative's innovative approach has transformed the mental healthcare landscape in the region, prioritizing patient wellbeing and community connection [7]

Core Viewpoint - VitalHub Corp. has changed its auditor from MNP LLP to Ernst & Young LLP effective September 9, 2025 [1][2]. Auditor Change - The change was initiated at the request of the Company, leading to the resignation of the Former Auditor and the appointment of the Successor Auditor [2]. - The new auditor will serve until the close of the Company's next Annual General Meeting [2]. Audit Reports - There were no reservations in the Former Auditor's audit reports for the two most recently completed fiscal years [3]. - No reportable events occurred between the Company and the Former Auditor as defined in National Instrument 51-102 [3]. Compliance and Documentation - The Notice of Change of Auditor, along with required letters from both auditors, has been reviewed by the Company's Board of Directors and Audit Committee, and filed on SEDAR+ [4]. Company Overview - VitalHub is a leading software company focused on health and human services, serving over 1,000 clients globally [5]. - The Company has a growth strategy that includes organic opportunities and an aggressive M&A plan [5]. - VitalHub is headquartered in Toronto and employs over 500 people worldwide, including a lab in Sri Lanka [5].