Swiftmerge Acquisition Corp.(IVCPU) - 2025 Q1 - Quarterly Results
2025-05-15 20:02
Exhibit 99.1 AleAnna, Inc. Reports First Quarter 2025 Results Longanesi First Gas Sales Have Been Achieved First Quarter 2025 and Recent Company Highlights: DALLAS – May 15, 2025 – AleAnna, Inc. ("AleAnna" or "the Company") (NASDAQ: ANNA) today announced financial results for the first quarter of 2025. While revenue from the Longanesi field production was not recognized during the quarter, in May 2025 we achieved first sales and the Company expects to report revenue from the Longanesi field as a part of sec ...
Gossamer Bio(GOSS) - 2025 Q1 - Quarterly Results
2025-05-15 20:02
Financial Performance - Cash, cash equivalents, and marketable securities totaled $258 million as of March 31, 2025[1] - Revenue from collaboration with Chiesi for the quarter ended March 31, 2025, was $9.9 million, including $6.6 million of cost reimbursement revenue[8] - Research and Development (R&D) expenses for the quarter were $38.0 million, compared to $32.4 million for the same period in 2024, representing an increase of 20.5%[8] - General and Administrative (G&A) expenses for the quarter were $8.7 million, a decrease from $9.6 million for the same period in 2024[8] - Net loss for the quarter was $36.6 million, or $0.16 basic net loss per share, compared to a net loss of $41.9 million, or $0.19 basic net loss per share, for the same period in 2024[8] Clinical Trials - Enrollment for the ongoing registrational Phase 3 PROSERA Study in PAH patients is expected to complete in early June 2025, with over 350 patients anticipated[1] - Topline results from the PROSERA Phase 3 Study are expected to be announced in February 2026[1] - The Phase 3 SERANATA Study in PH-ILD patients is expected to activate clinical sites in the fourth quarter of 2025, with approximately 480 patients to be randomized[7] - The PROSERA Study has enrolled 343 patients to date, with a target of 350 participants[6] - The primary endpoint of the PROSERA Study is the change in six-minute walk distance (6MWD) from baseline compared to placebo at week 24[6]
TSS Inc(TSSI) - 2025 Q1 - Quarterly Report
2025-05-15 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-33627 TSS, INC. (Exact name of registrant as specified in its charter) Delaware 20-2027651 (State or other jurisdiction of incorporation or organization) 110 E. ...
Ocuphire Pharma(OCUP) - 2025 Q1 - Quarterly Report
2025-05-15 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ________ Commission File Number: 001-34079 Opus Genetics, Inc. (Exact name of Registrant as specified in its charter) | Delaware | 11-3516358 | | --- | --- | | ( ...
Opus Genetics, Inc.(IRD) - 2025 Q1 - Quarterly Report
2025-05-15 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ________ Commission File Number: 001-34079 Opus Genetics, Inc. (Exact name of Registrant as specified in its charter) | Delaware | 11-3516358 | | --- | --- | | ( ...
Prairie Operating(PROP) - 2025 Q1 - Quarterly Report
2025-05-15 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File No. 001-41895 Prairie Operating Co. (Exact name of registrant as specified in its charter) Delaware 98-0357690 (State or ot ...
Bit Digital(BTBT) - 2025 Q1 - Quarterly Report
2025-05-15 20:02
Acquisitions and Expansions - The company acquired Enovum Data Centers Corp on October 11, 2024, which includes a fully operational 4 MW Tier-3 data center hosting over 5,000 GPUs for 14 customers[234]. - A new 5 MW Tier-3 data center expansion project (MTL-2) near Montreal was acquired for CAD $33.5 million (approximately USD $23.3 million), with an expected investment of USD $19.3 million to meet Tier-3 standards, operational by Q3 2025[235]. - A lease for a new data center site (MTL-3) in Saint-Jerome, Quebec, was executed with a 20-year term and development costs expected to total approximately USD $40 million, targeting completion by late Q3 2025[237]. Agreements and Contracts - The company entered a five-year colocation agreement with Cerebras Systems to provide 5 MW of data center infrastructure, expected to be fulfilled at MTL-3 or another site[236]. - The company signed a binding term sheet with a customer for 2,048 GPUs, targeting total revenue of approximately $150 million over three years, or about $50 million annually[242]. - A Master Services and Lease Agreement was finalized for 2,048 GPUs, with an estimated total contract value exceeding $50 million in annualized revenue[243]. - A new agreement was entered to supply an additional 464 GPUs for $15 million of annualized revenue, with a deferred start date until August 20, 2025[245]. - A Master Service Agreement with Boosteroid Inc. was executed for 489 GPUs, projected to generate approximately $7.9 million in contracted value, with potential expansion up to 50,000 servers worth approximately $700 million[246]. - The Company finalized a service agreement to supply cloud services worth more than $50 million in annualized revenues, with an initial contract for 2,048 GPUs[371]. - A Master Services Agreement with DNA Fund includes a minimum purchase commitment of 32 GPUs and a total of 576 H200 GPUs over a 25-month period, representing an aggregate revenue opportunity of approximately $20.2 million[375]. Mining Operations - The company commenced its bitcoin mining operations in February 2020 and has focused on accumulating digital assets for potential sale or exchange[257]. - The company has chosen to acquire miners on the spot market to mitigate long delivery lead times, aiming to mine bitcoins quickly given their fixed supply[258]. - The company deployed an additional 1,441 miners during Q1 2025, resulting in an active hash rate of approximately 1.5 EH/s[264]. - The total contracted hosting capacity with Coinmint increased to approximately 46 MW as of January 2024[270]. - The company entered into a Master Mining Services Agreement with Blockbreakers for 4 MW of additional mining capacity, bringing total contracted capacity with them to approximately 9 MW[266]. - The company has secured a strategic co-location agreement with Soluna Computing for up to 6.6 MW, with a profit share of 35%[280]. - The company has a co-mining agreement with Digihost, providing approximately 6.0 MW of capacity, with Digihost entitled to 30% of the net profit[273]. - The company has a loan agreement with GreenBlocks for up to $5 million to finance miners with a capacity of 8.25 MW in Iceland[274]. - The company has a total contracted hosting capacity with Soluna of approximately 17.6 MW as of March 31, 2025[281]. - The company has entered into hosting agreements with A.R.T. Digital Holdings for a total capacity of 19 MW, with profit shares ranging from 19.75% to 40%[283]. Financial Performance - For the three months ended March 31, 2025, the company recognized revenue of $7.8 million from bitcoin mining services, a decrease of $14.1 million or 64.5% compared to $21.9 million for the same period in 2024[294][303]. - Cloud services revenue increased by $6.8 million, or 83.9%, to $14.8 million for the three months ended March 31, 2025, compared to $8.1 million for the same period in 2024[296]. - The company generated $1.6 million in revenue from colocation services for the three months ended March 31, 2025, compared to $0 for the same period in 2024[299]. - The net loss for the three months ended March 31, 2025, was $57.7 million, compared to a net income of $50.1 million for the same period in 2024, reflecting a variance of $107.8 million[294]. - The company reported a net loss of $57.7 million for the three months ended March 31, 2025, a change of $107.8 million from a net income of $50.1 million in the same period of 2024[334]. - Adjusted EBITDA for the three months ended March 31, 2025, was $(44.5) million, compared to $58.5 million for the same period in 2024, indicating a significant decline in operational performance[361]. - The company incurred a loss of $49.2 million on digital assets for the three months ended March 31, 2025, compared to a gain of $45.7 million in the same period of 2024[331]. Asset Management - The company's total assets decreased by $52,999,090 to $485,248,574 as of March 31, 2025, compared to $538,247,664 as of December 31, 2024[336]. - The company's cash and cash equivalents decreased by $37,646,324 to $57,555,011 as of March 31, 2025, compared to $95,201,335 as of December 31, 2024[336]. - The balance of accounts receivable decreased to $2.5 million as of March 31, 2025, down from $5.3 million as of December 31, 2024, attributed to paid invoices from customers[339]. - The balance of digital assets decreased by $82.3 million to $XX million as of March 31, 2025, primarily due to exchanges of bitcoins into cash and USDC, and a change in fair value of $49.2 million[342]. - The current and non-current portion of deferred revenue decreased to $21.2 million and $0.1 million, respectively, as of March 31, 2025, down from $30.8 million and $0.1 million as of December 31, 2024, reflecting a recognition of $11.1 million in revenue[355]. - Working capital decreased to $139.8 million as of March 31, 2025, from $241.8 million as of December 31, 2024, reflecting a reduction in liquidity[362]. Operational Changes and Future Outlook - The company anticipates long-term operational improvements despite potential short-term decreases in mining output due to strategic changes in hosting partnerships[261]. - The ability to generate revenue from digital asset production is subject to various risks, including regulatory and market volatility[377]. - The company may need to raise additional capital to fund operations and pursue its business strategy, which could involve risks and uncertainties[376][377]. - The company expects to continue to opportunistically invest in miners to increase its hash rate capacity[304]. Ethereum Operations - The company initiated Ethereum staking operations in the fourth quarter of 2022 and has since transitioned to partnerships with various service providers for staking activities[289][306]. - The company has ceased all liquid staking activities as of the first quarter of 2024, reclaiming all staked Ethereum[308]. - For the three months ended March 31, 2025, the company earned 211.0 ETH in native staking, resulting in revenues of $560,641, an increase of $239,398 or 74.5% from $321,243 in the same period of 2024[310][312]. - The company's revenues from ETH liquid staking decreased by $4,503, or 100%, to $nil due to the termination of liquid staking activities in the first quarter of 2024[313]. - The cost of revenue from the ETH staking business increased by $16,135, or 98%, driven by an increase in staked ETH from 3,008 ETH to 21,568 ETH[326].
Legacy Education Inc.(LGCY) - 2025 Q3 - Quarterly Report
2025-05-15 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ 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: 001-42283 LEGACY EDUCATION INC. (Exact name of registrant as specified in its charter) | Nevada | 84-5167957 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | ...
ClearOne(CLRO) - 2025 Q1 - Quarterly Report
2025-05-15 20:02
Financial Performance - Overall revenue decreased by 36% in Q1 2025 compared to Q1 2024, primarily due to product shortages and reduced demand in key regions[58]. - Revenue decreased to $2.3 million in Q1 2025, a 36% decline from $3.6 million in Q1 2024, driven by a 37% drop in audio conferencing, 54% in video products, and 29% in microphones[76]. - Gross profit margin fell to 5.2% in Q1 2025 from 31.8% in Q1 2024, driven by a larger percentage decrease in revenue than in cost of goods sold[59]. - Operating loss increased to $2.8 million in Q1 2025 from $2.1 million in Q1 2024, representing a 37% adverse change[75]. - Net loss increased from $(1.9) million in Q1 2024 to $(2.8) million in Q1 2025, attributed to decreased revenues and gross margin[61]. - Cash used in operating activities was approximately $1.4 million in Q1 2025, a decrease of $1.8 million from cash provided in Q1 2024[88]. - As of March 31, 2025, cash and cash equivalents were approximately $0.9 million, down from $1.4 million as of December 31, 2024[87]. - Total operating expenses in Q1 2025 were $3.0 million, a slight decrease from $3.2 million in Q1 2024[81]. Strategic Initiatives - ClearOne is exploring strategic alternatives to maximize shareholder value, including potential mergers, acquisitions, or divestitures[62]. - The company faces substantial doubt about its ability to continue as a going concern without completing strategic transactions or raising additional capital[63]. - The company raised $1 million in a private placement transaction in February 2025 to address liquidity concerns[91]. Product Developments - The DIALOG® 20 USB wireless microphone system launched at ISE 2024 saw a 319% increase in unique visitors compared to 2023[51]. - The DIALOG® UVHF wireless microphone system received the 2024 Communications Solutions Products of the Year award[52]. - The BMA 360DX ceiling tile microphone array was launched with advanced features and won a Best of Show award at ISE 2025[53]. - The Versa® 120D USB-C Docking Station was introduced to enhance hybrid meeting experiences, supporting dual 4K60 displays[54]. Challenges and Risks - The company faced significant challenges due to supply chain issues and lack of component availability, impacting revenue growth[66]. - As of March 31, 2025, the company had open purchase orders of approximately $4.2 million, primarily for inventory[93]. - Deferred product revenue decreased to $12 thousand on March 31, 2025, compared to $17 thousand on December 31, 2024[72]. Accounting and Compliance - The company has maintained its critical accounting policies without changes since the last Annual Report for the year ended December 31, 2024[96]. - Recent accounting pronouncements are discussed in the notes to the unaudited condensed consolidated financial statements[97]. - There are no applicable quantitative and qualitative disclosures about market risk[98]. Dividend Announcement - ClearOne announced a one-time special cash dividend of $0.50 per share, paid on April 10, 2024[50].
Safe Pro Group Inc.(SPAI) - 2025 Q1 - Quarterly Report
2025-05-15 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from ______________to _______________. Commission File Number 001-42261 (Exact name of registrant as specified in its charter) | Delaware | 87-4227079 | | --- | --- | | (State or other jurisdiction of | (I ...