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Adagio(IVVD) - 2025 Q1 - Quarterly Results
2025-05-15 11:06
Exhibit 99.1 Invivyd Reports First Quarter 2025 Financial Results and Recent Business Highlights WALTHAM, Mass., May 15, 2025 – Invivyd, Inc. (Nasdaq: IVVD) today announced financial results for the quarter ended March 31, 2025, and provided recent business highlights. "To drive long-term topline growth, we made a strategic decision to internalize our sales force at the beginning of 2025," said Bill Duke, Chief Financial Officer of Invivyd. "Although this shift created a short-term headwind, we're now seein ...
EDAP TMS(EDAP) - 2025 Q1 - Quarterly Report
2025-05-15 11:05
FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 May 15, 2025 Commission File Number: 0-29374 EDAP TMS S.A. Parc Activite La Poudrette Lamartine 4/6 Rue du Dauphine 69120 Vaulx-en-Velin - France Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [x] Form 40-F [ ] 1 SIGNATURES Pursuant to the ...
Cabaletta Bio(CABA) - 2025 Q1 - Quarterly Results
2025-05-15 11:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 15, 2025 CABALETTA BIO, INC. (Exact name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation) Delaware 001-39103 82-1685768 (Commission File Number) (IRS Employer 2929 Arch Street Suite 600 Philadelphia, Pennsylvania 19104 (Address of Principal Executive ...
Advanced Drainage Systems(WMS) - 2025 Q4 - Annual Results
2025-05-15 11:01
Financial Performance - Net sales for Q4 FY2025 decreased by $38.1 million, or 5.8%, to $615.8 million compared to $653.8 million in the prior year quarter[3] - For FY2025, net sales increased by $29.8 million, or 1.0%, to $2,904.2 million, driven by growth in the Infiltrator business and Allied products portfolio[8] - Net sales for the three months ended March 31, 2025, were $615,761,000, a decrease of 5.8% compared to $653,840,000 for the same period in 2024[24] Profitability - Adjusted EBITDA for Q4 FY2025 decreased by $14.5 million, or 7.6%, to $176.7 million, representing 28.7% of net sales compared to 29.2% in the prior year[7] - Gross profit for FY2025 decreased by $51.7 million, or 4.5%, to $1,094.2 million, primarily due to unfavorable pricing and material costs[9] - Net income attributable to ADS for the three months ended March 31, 2025, was $77,157,000, a decline of 18.7% from $94,822,000 in the prior year[24] - Adjusted EBITDA for the three months ended March 31, 2025, was $176,695, down from $191,178 in the same period of 2024[38] - Net income for the fiscal year ended March 31, 2025, was $452,573, down from $513,291 in 2024, a decline of 11.8%[38] Cash Flow and Debt - Free cash flow for FY2025 decreased by $165.6 million to $368.5 million, compared to $534.1 million in the prior year[13] - The company reported a net cash provided by operating activities of $581,491,000 for the fiscal year ended March 31, 2025, down from $717,928,000 in 2024, a decrease of 19.0%[28] - As of March 31, 2025, the company's net debt was $962.3 million, an increase of $101.4 million from the previous year[13] - Long-term debt obligations, net, were $1,251,589,000 as of March 31, 2025, compared to $1,259,522,000 in 2024, showing a slight decrease of 0.6%[26] Expenses - Selling, general and administrative expenses for FY2025 increased by $9.7 million, or 2.6%, to $380.4 million, representing 13.1% of sales[10] - Operating expenses for the fiscal year ended March 31, 2025, were $380,378,000, slightly higher than $370,714,000 in 2024, reflecting an increase of 2.0%[24] - Interest expense for the fiscal year ended March 31, 2025, was $91,803, slightly up from $88,862 in 2024[38] Capital Expenditures - Capital expenditures for the fiscal year ended March 31, 2025, were $212,944,000, compared to $183,812,000 in 2024, an increase of 15.9%[28] - Capital expenditures for the fiscal year ended March 31, 2025, were $212,944, an increase from $183,812 in 2024[40] Dividends and Shareholder Returns - The company declared cash dividends of $0.16 per share for the three months ended March 31, 2025, up from $0.14 per share in the same period of 2024[24] Acquisition - The company completed the acquisition of Orenco on October 1, 2024, which is expected to enhance its Infiltrator segment[14] Assets - Total assets increased to $3,690,360,000 as of March 31, 2025, compared to $3,268,913,000 as of March 31, 2024, representing a growth of 12.9%[26] - Cash and restricted cash at the end of the fiscal year was $469,271,000, down from $495,848,000 in the previous year, indicating a decrease of 5.4%[28] Earnings Per Share - Diluted earnings per share for the three months ended March 31, 2025, was $0.99, down from $1.21 in 2024, reflecting a decline of 18.2%[42] - Adjusted earnings per share for the fiscal year ended March 31, 2025, was $5.89, compared to $6.39 in 2024, representing a decrease of 7.8%[42]
CDT Environmental Technology(CDTG) - 2024 Q4 - Annual Report
2025-05-15 11:01
Financial Performance - Total revenues decreased by approximately $4.4 million, or 13.0%, to approximately $29.8 million for the year ended December 31, 2024, compared to approximately $34.2 million for the same period in 2023[324]. - Revenues from sewage treatment systems installations decreased by approximately $3.9 million, or 11.9%, to approximately $28.4 million for the year ended December 31, 2024[326]. - Gross profit decreased by approximately $0.1 million, or 1.2%, to approximately $11.2 million for the year ended December 31, 2024[332]. - Total operating expenses increased by approximately $6.5 million, or 233.5%, to approximately $9.2 million for the year ended December 31, 2024[334]. - Net income decreased by approximately $5.6 million, or 80.0%, to approximately $1.4 million for the year ended December 31, 2024, from approximately $7.0 million for the same period in 2023[340]. - Total revenues increased by approximately $5.4 million, or 18.6%, to approximately $34.2 million for the year ended December 31, 2023, compared to approximately $28.8 million for the same period in 2022[342]. - Revenues from sewage treatment systems increased by approximately $5.7 million, or 21.5%, to approximately $32.3 million for the year ended December 31, 2023[344]. - Gross profit increased by approximately $1.1 million, or 11.0%, to approximately $11.4 million for the year ended December 31, 2023[349]. - Total operating expenses decreased by approximately $1.1 million, or 28.9%, to approximately $2.8 million for the year ended December 31, 2023[351]. Cash Flow and Working Capital - Net cash used in operating activities was approximately $1.99 million for the year ended December 31, 2024, a decrease from $3.13 million in 2023[361]. - Working capital as of December 31, 2024, was approximately $26.0 million, with current assets of approximately $77.7 million and current liabilities of approximately $51.6 million[358]. - Net cash provided by investing activities was $545,167 in 2024, an increase from $243,586 in 2023[361]. - Net cash provided by financing activities was approximately $1.0 million for the year ended December 31, 2024, consisting of $2.5 million from loans and $4.3 million from net IPO proceeds[387]. Accounts Receivable and Credit Losses - Accounts receivable increased by approximately $23.1 million in 2024, primarily due to a longer collection cycle caused by delays in government billing approvals[366]. - Days sales outstanding (DSO) increased to 455 days by December 31, 2024, reflecting prolonged delays in the government payment approval process amid economic downturn[368]. - The allowance for doubtful accounts was 14.2% of total accounts receivable as of December 31, 2024[372]. - The allowance for credit loss against accounts receivable was $9,267,851, $3,009,363, and $3,189,642 as of December 31 for the years 2024, 2023, and 2022, representing 17.0%, 9.4%, and 13.7% of gross accounts receivable respectively[400]. Contract Assets and Liabilities - Contract assets increased by approximately $1.4 million, $13.6 million, and $12.2 million for the years ended December 31, 2024, 2023, and 2022, respectively[377]. - As of December 31, 2024, contract assets totaled approximately $40.0 million, with $29.3 million aged over 720 days[380]. - Accounts payable increased by approximately $13.0 million, $9.2 million, and $5.6 million for the years ended December 31, 2024, 2023, and 2022, respectively, primarily due to raw material purchases[384]. - Total contractual obligations as of December 31, 2024, amounted to $5,660,179, with $5,446,210 due within one year[421]. Tax and Other Expenses - Income tax expense decreased by approximately $0.9 million to approximately $0.5 million for the year ended December 31, 2024[339]. - Other expenses, net, amounted to approximately $0.2 million for the year ended December 31, 2023, compared to other income of approximately $41,000 for the same period in 2022[354]. - Income tax expense increased by approximately $0.2 million to approximately $1.4 million for the year ended December 31, 2023[355]. Research and Development - Research and development expenses were $61,786 for the year ended December 31, 2024, $80,948 for 2023, and $112,668 for 2022, indicating a continued investment in R&D to enhance market position[409]. - The company is focused on improving the efficiency of microorganisms in sewage treatment systems and exploring new technologies to enhance water treatment[408]. Company Outlook and Strategy - The company anticipates that current cash resources will be insufficient to execute its business plan for the next twelve months, raising concerns about its ability to operate as a going concern[361]. - The company plans to invest in rural sewage treatments, including building sewage treatment equipment, and explore potential mergers and acquisitions[362]. - The company has enforceable rights to payments for work performed under sewage treatment service contracts, with revenue recognized based on labor costs incurred[398]. - Provisions for estimated losses on uncompleted contracts are recorded in the period when such losses are determined, ensuring accurate financial reporting[401]. - The company has a long history of sewage treatment services, allowing for reasonable estimates of service hours and progress towards completion on fixed-price contracts[399]. - The company has elected to take advantage of the extended transition period for complying with new or revised accounting standards under the JOBS Act[419].
Hennessy Capital Investment Corp. VI(HCVIU) - 2025 Q1 - Quarterly Report
2025-05-15 11:01
Financial Position - The Company had approximately $891,000 in cash and approximately $23,982,000 of negative working capital as of March 31, 2025[153]. - As of March 31, 2025, the company had approximately $891,000 in cash and $23,871,000 of negative working capital, indicating a need for additional working capital[209]. - The company incurred approximately $505,000 and $475,000 in outstanding working capital loans as of April 28, 2025, and March 31, 2025, respectively[212]. - The company has no long-term debt or off-balance sheet financing arrangements as of March 31, 2025[218][219]. Business Combination - On June 17, 2024, the Company entered into a Business Combination Agreement with PubCo and Greenstone, an established gold producer[156]. - The Business Combination Agreement was amended on April 14, 2025, to extend the outside date to May 1, 2025, and remove the minimum cash condition[157]. - The proposed business combination with Greenstone is expected to create a publicly traded company operating under the name "Namib Minerals" on Nasdaq[158]. - The Company has extended its completion window to May 31, 2025, as permitted by its Amended and Restated Certificate of Incorporation[161]. - The Company is incurring significant costs in the pursuit of an initial business combination[153]. - The probability of closing a business combination has increased from 9.7% in October 2023 to 90% by March 31, 2025, impacting the fair value of the Polar Subscription Agreements significantly[229]. - The company intends to use substantially all funds held in the Trust Account to complete its initial Business Combination[201]. Stockholder Actions - Stockholders holding 3,251,056 shares of the Company's Class A common stock exercised their right to redeem such shares for a pro rata portion of the funds in the Trust Account during the Special Meeting on May 6, 2025[163]. - Stockholders approved the extension of the initial Business Combination deadline from October 1, 2023, to January 10, 2024, at the September 2023 Extension Meeting[165]. - At the January 2024 Extension Meeting, stockholders extended the deadline to September 30, 2024, allowing for further extensions up to June 30, 2025[167]. Redemptions - In October 2023, the company redeemed 8,295,189 public shares for approximately $86,171,000, or about $10.39 per share[170]. - In January 2024, the company redeemed 20,528,851 public shares for approximately $215,340,000, or about $10.49 per share[171]. - Following the September 2024 Extension Meeting, the company redeemed 1,992,461 public shares for approximately $21,400,000, or about $10.74 per share[172]. - The company recorded a liability of approximately $861,000 related to the October 2023 redemptions, and liabilities of approximately $3,229,000 and $3,230,000 for January 2024 and September 2024 redemptions, respectively[173]. - The company recorded an excise tax liability of approximately $2,368,000 related to redemptions from January 2024 and September 2024, bringing the total accrued liability for excise tax to approximately $3,230,000 as of March 31, 2025[208]. Non-Redemption Agreements - In September 2023, the company entered into non-redemption agreements with investors for 25,688,054 public shares, resulting in a deemed contribution of approximately $1,825,000[175]. - In January 2024, the company entered into non-redemption agreements for 5,112,264 public shares, with a deemed contribution of approximately $1,500,000[177]. - In September 2024, the company entered into non-redemption agreements for 3,238,379 public shares, with a deemed contribution of approximately $6,670,000[179]. Expenses and Losses - For the three months ended March 31, 2025, the company reported a loss from operations of approximately $1,369,000, including $1,007,000 in business combination costs and $267,000 in public company costs[193]. - The company incurred other expenses of approximately $1,863,000 related to changes in fair value of extension notes payable and $558,000 for warrant liabilities for the three months ended March 31, 2025[195]. - The company has incurred increased expenses due to being a public company, which are expected to continue to rise substantially[189]. Contributions and Agreements - The company entered into a subscription agreement with Polar for a $900,000 cash contribution to cover working capital expenses, with repayment options upon closing[180]. - The estimated fair value of the Polar Subscription Agreement I increased to $8,813,000 at March 31, 2025, reflecting a $1,665,000 increase over the previous three months, with a probability of an initial business combination closing of 90%[185]. - The estimated fair value of the Polar Subscription Agreement II was approximately $2,570,000 at March 31, 2025, an increase of approximately $198,000 during the three months then ended, with a probability of business combination closing of 90%[186]. - The company received proceeds of $1,750,000 under the Polar Subscription Agreement II on April 1, 2024[183]. - The company has received cash contributions of $900,000 and $1,750,000 from Polar to cover working capital expenses, which are to be repaid upon closing of an initial business combination[213][214]. Financing and Debt - The company does not expect to seek loans from parties other than its Sponsor and affiliates, indicating limited external financing options[216]. - The company may need to seek additional financing to complete its initial business combination if costs exceed expectations or if significant public shares are redeemed[217]. - The company has incurred deferred compensation obligations of approximately $1,186,000 for its executives from September 29, 2021, to March 31, 2025[224].
Hennessy Capital Investment VI(HCVI) - 2025 Q1 - Quarterly Report
2025-05-15 11:01
Financial Position - The Company had approximately $891,000 in cash and approximately $23,982,000 of negative working capital as of March 31, 2025[153]. - As of March 31, 2025, the Company had approximately $891,000 in cash and approximately $23,871,000 of negative working capital, indicating a need for additional working capital[209]. - The Company has received cash contributions of $900,000 and $1,750,000 from Polar to cover working capital expenses, which are to be repaid upon closing of an initial business combination[213][214]. - The Company incurred approximately $505,000 and $475,000 in outstanding working capital loans as of April 28, 2025, and March 31, 2025, respectively[212]. - The Company has no long-term debt or off-balance sheet financing arrangements as of March 31, 2025[218][219]. Business Combination - On June 17, 2024, the Company entered into a Business Combination Agreement with PubCo and Greenstone, an established gold producer with three high-grade, low-cost gold mines in Zimbabwe[156]. - The Business Combination Agreement was amended on April 14, 2025, to extend the outside date to May 1, 2025, and remove the minimum cash condition[157]. - The Company intends to consummate the Proposed Business Combination as soon as possible, subject to the satisfaction of all closing conditions[163]. - The probability of closing a business combination has increased from 9.7% in October 2023 to 90% by March 31, 2025, impacting the fair value of subscription agreements by approximately $7,913,000 and $820,000 respectively[229]. Stockholder Actions - Stockholders holding 3,251,056 shares of the Company's Class A common stock exercised their right to redeem such shares for a pro rata portion of the funds in the Trust Account during the Special Meeting on May 6, 2025[163]. - Stockholders approved the extension of the initial Business Combination deadline from October 1, 2023, to January 10, 2024, at the September 2023 Extension Meeting[165]. - At the January 2024 Extension Meeting, stockholders approved extending the deadline to September 30, 2024[166]. - The September 2024 Extension Meeting resulted in an extension to March 31, 2025, with the possibility of further extensions up to June 30, 2025[167]. Redemptions - In October 2023, the company redeemed 8,295,189 public shares for approximately $86,171,000, or about $10.39 per share[170]. - In January 2024, the company redeemed 20,528,851 public shares for approximately $215,340,000, or about $10.49 per share[171]. - Following the September 2024 Extension Meeting, the company redeemed 1,992,461 public shares for approximately $21,400,000, or about $10.74 per share[172]. - The company recorded a liability of approximately $861,000 related to the October 2023 redemptions, and approximately $3,229,000 and $3,230,000 for the January 2024 and September 2024 redemptions, respectively[173]. - The company recorded a total accrued liability for excise tax of approximately $3,230,000 as of March 31, 2025, related to the 2023 and 2024 redemptions[208]. Expenses and Liabilities - The company incurred increased expenses due to being a public company, which are expected to continue to rise substantially[189]. - The Company is incurring significant costs in the pursuit of an initial business combination and cannot assure that its plans to raise capital will be successful[153]. - The Company has incurred significant costs in pursuing an initial business combination and may need additional financing if costs exceed expectations[217]. - The Company compensates its executives with a total of $29,000 per month, with deferred compensation obligations amounting to approximately $1,186,000 as of March 31, 2025[224]. SEC and Nasdaq Notices - The Company received a delisting notice from Nasdaq on April 2, 2025, due to failure to complete a business combination within 36 months of its initial public offering[154]. - The SEC declared the Registration Statement effective on March 14, 2025, and the post-effective amendment on April 14, 2025[162]. - The Company anticipates that its securities will be delisted following the completion of Nasdaq's applicable procedures[161]. Fair Value of Agreements - The estimated fair value of the Polar Subscription Agreement I was $7,148,000 at December 31, 2024, reflecting an increase of $6,248,000 during the year[185]. - The estimated fair value of the Polar Subscription Agreement II was approximately $2,372,000 at December 31, 2024, an increase of approximately $622,000 during the year[186]. Loss from Operations - For the three months ended March 31, 2025, the company reported a loss from operations of approximately $1,369,000, including costs associated with the business combination of approximately $1,007,000[193]. - For the three months ended March 31, 2024, the company reported a loss from operations of approximately $2,322,000, primarily due to estimated fair value costs of founder shares of approximately $1,500,000[194].
Lithium Americas (LAC) - 2025 Q1 - Quarterly Report
2025-05-15 11:00
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 For the transition period from To Commission file number: 001-41788 LITHIUM AMERICAS CORP. 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 | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | ...
Predictive Oncology (POAI) - 2025 Q1 - Quarterly Results
2025-05-15 11:00
Financial Performance - The company reported a loss from continuing operations of approximately $2.3 million on total revenue of $110,310 for Q1 2025, compared to a loss of $3.6 million in Q1 2024[1][11] - Revenue increased significantly from $4,858 in Q1 2024 to $110,310 in Q1 2025, primarily due to the completion of a tumor-specific 3D model[8][11] - Loss per common share from continuing operations improved to $0.32 in Q1 2025 from $0.88 in Q1 2024[8][11] Cash and Expenses - The company concluded Q1 2025 with $3.1 million in cash and cash equivalents, up from $611,822 as of December 31, 2024[8] - General and administrative expenses decreased by $497,464 to $1,828,200 in Q1 2025, compared to $2,325,664 in Q1 2024[8][11] - Net cash used in operating activities decreased to $985,840 in Q1 2025 from $2.7 million in Q1 2024, reflecting lower cash operating losses[8] Product Development and Partnerships - The company identified three promising compounds for repurposing in new cancer indications, including Afuresertib for breast cancer and Alisertib for colon cancer[4] - The company launched its ChemoFx drug response assay in Europe and expanded its availability in the United States, initially focusing on ovarian and gynecological cancers[3][4] - The company partnered with Tecan Group Ltd. to expand high-throughput drug screening capabilities using human tumor spheroids[4] Strategic Focus - The company completed the sale of Skyline Medical assets to DeRoyal Industries, which sharpened its focus on core AI-driven drug discovery capabilities[4]
Cango(CANG) - 2025 Q1 - Quarterly Report
2025-05-15 11:00
First Quarter 2025 Financial and Operational Highlights Mr. Jiayuan Lin, Chief Executive Officer of Cango, commented, "The first quarter of 2025 marked a new chapter of growth for Cango following our entry into the Bitcoin mining industry in November 2024. Fueled by the strong performance of our mining operations, we generated total revenues of RMB 1.1 billion for the quarter. Throughout the quarter, we focused on enhancing our operational efficiency and mined a total of 1,541 Bitcoins, up substantially fro ...