BuzzFeed(BZFD) - 2025 Q3 - Quarterly Results
2025-11-06 21:21
Financial Performance - Total revenue for Q3 2025 was $46.3 million, a decrease of 17% year-over-year from $55.6 million in Q3 2024[7] - Advertising revenue declined to $22.2 million, reflecting an 11% drop compared to $24.8 million in Q3 2024[7] - Content revenue decreased by 33% to $7.2 million from $10.7 million in Q3 2024[7] - Commerce and other revenue fell to $17.0 million, down 15% from $20.1 million in Q3 2024[7] - Revenue for Q3 2025 was $46.3 million, a decrease of 16.6% compared to $55.6 million in Q3 2024[29] Net Income and Loss - Net loss from continuing operations was $7.4 million, compared to net income of $2.5 million in Q3 2024[7] - Net loss from continuing operations for Q3 2025 was $7.4 million, compared to a net income of $2.5 million in Q3 2024[33] Adjusted EBITDA - Adjusted EBITDA was $0.8 million, a significant decline of 91% from $8.1 million in Q3 2024[7] - Adjusted EBITDA for Q3 2025 was $0.8 million, with an adjusted EBITDA margin of 1.6%[33] Assets and Liabilities - Total assets decreased to $211.2 million as of September 30, 2025, down from $221.4 million at the end of 2024[27] - Total liabilities increased to $134.6 million as of September 30, 2025, compared to $114.5 million at the end of 2024[27] - The company has a total stockholders' equity of $76.7 million as of September 30, 2025, down from $106.9 million at the end of 2024[27] Cash Flow - Cash and cash equivalents at the end of Q3 2025 were $34.3 million, down from $38.6 million at the end of Q4 2024[31] - Operating cash flow from continuing operations was a net cash used of $7.0 million for the nine months ended September 30, 2025[31] - The company incurred $12.2 million in depreciation and amortization for the nine months ended September 30, 2025[31] - The company reported a total of $81.1 million in cost of revenue for the nine months ended September 30, 2025, compared to $77.2 million in the same period of 2024[29] Traffic and Engagement - Total U.S. Time Spent across all BuzzFeed properties was 68.5 million hours, down from 80.3 million hours in Q3 2024[7] - 63% of BuzzFeed.com traffic now comes from direct visits, internal referrals, and app activity, up from 61% in Q2 2025[7] - BuzzFeed remained 1 among Gen Z and Millennials with 10.7 million hours of Time Spent, a 25% increase from Q2 2025[7] Future Outlook - The company expects full-year 2025 revenue in the range of $185 million to $195 million, with Adjusted EBITDA expected to be break-even to $10 million[14] Other Financial Metrics - The company reported net (loss) income from continuing operations as a percentage of revenue, which is a key GAAP measure compared to Adjusted EBITDA margin, a non-GAAP measure[35] - Transaction-related costs and other items are not representative of the underlying operations and include professional fees and integration expenses[34]
Century Aluminum(CENX) - 2025 Q3 - Quarterly Report
2025-11-06 21:21
Table of Contents ☐ 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 001-34474 Century Aluminum Company 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 For the quarterly period ended September 30, 2025 OR (Exact name of registrant as specified in its charter) Delaware 13-30 ...
Maze Therapeutics Inc(MAZE) - 2025 Q3 - Quarterly Results
2025-11-06 21:21
Financial Position - Maze Therapeutics reported a cash position of $383.9 million as of September 30, 2025, up from $196.8 million as of December 31, 2024, providing a cash runway into 2028[6]. - The company’s total stockholders' equity improved to $379.4 million as of September 30, 2025, compared to a deficit of $311.2 million as of December 31, 2024[18]. Revenue and Expenses - The company recognized no license revenue during the three and nine months ended September 30, 2025, compared to $2.5 million and $167.5 million for the same periods in 2024, respectively[7]. - Research and Development (R&D) expenses for Q3 2025 were $25.2 million, an increase from $19.9 million in Q3 2024, primarily due to higher clinical trial and manufacturing expenses[8]. - General and Administrative (G&A) expenses for Q3 2025 were $7.8 million, compared to $6.9 million in Q3 2024, reflecting higher personnel-related expenses[9]. - The net loss for Q3 2025 was $30.1 million, compared to a net loss of $24.8 million for the same period in 2024[10]. Clinical Trials and Development - Maze plans to initiate two Phase 2 proof-of-concept trials for MZE782 in phenylketonuria (PKU) and chronic kidney disease (CKD) in 2026[11]. - Enrollment is ongoing in the Phase 2 HORIZON trial of MZE829, with topline proof-of-concept data expected by the end of Q1 2026[3]. - MZE829 is being developed as a potential treatment for APOL1-mediated kidney disease (AMKD), which affects over one million people in the U.S.[3]. Fundraising Activities - Maze announced an oversubscribed private placement for gross proceeds of approximately $150.0 million in September 2025[11].
Evolent Health(EVH) - 2025 Q3 - Quarterly Results
2025-11-06 21:21
Evolent Announces Third Quarter 2025 Results WASHINGTON (November 6, 2025) – Evolent Health, Inc. (NYSE: EVH) ("Evolent" or the "Company"), a company that specializes in better health outcomes for people with complex conditions through proven solutions that make health care simpler and more affordable, today announced financial results for the three months ended September 30, 2025. Seth Blackley, Co-Founder and Chief Executive Officer of Evolent stated, "We are happy to deliver a strong quarter, in the top ...
Microchip Technology(MCHP) - 2026 Q2 - Quarterly Results
2025-11-06 21:21
EXHIBIT 99.1 INVESTOR RELATIONS CONTACT: Sajid Daudi -- Head of Investor Relations..... (480) 792-7385 MICROCHIP TECHNOLOGY ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER OF FISCAL YEAR 2026 CHANDLER, Arizona - November 6, 2025 - (NASDAQ: MCHP) - Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today reported results for the three months ended September 30, 2025. Steve Sanghi, Microchip's CEO and President commented that "Our second quarter re ...
Microchip Technology Incorporated(MCHPP) - 2026 Q2 - Quarterly Results
2025-11-06 21:21
Financial Performance - Net sales for the second quarter of fiscal 2026 were $1.140 billion, representing a 6.0% sequential increase but a 2.0% decline year-over-year[4]. - GAAP gross profit was 55.9%, with operating income of $88.9 million (7.8% of net sales) and net income attributable to common stockholders of $13.9 million, or $0.03 per diluted share[4][7]. - Non-GAAP gross profit was 56.7%, with operating income of $277.2 million (24.3% of net sales) and net income of $199.1 million, or $0.35 per diluted share[4][8]. - Reported net income attributable to common stockholders for Q2 2026 was $13.9 million, compared to $78.4 million in Q2 2025, reflecting a decrease of 82.3%[32]. - Non-GAAP net income for Q2 2026 was $199.1 million, down from $250.2 million in Q2 2025, representing a decline of 20.4%[32]. - Diluted net income per common share, as reported, was $0.03 for Q2 2026, down from $0.14 in Q2 2025[32]. Dividends and Shareholder Returns - Approximately $245.8 million was returned to common stockholders through dividends in the September quarter, with a declared quarterly dividend of 45.5 cents per share for the December quarter[4][9]. Future Projections - For the third quarter of fiscal 2026, net sales are expected to be between $1.109 billion and $1.149 billion, with GAAP gross profit projected between 56.2% and 58.1%[11]. - The company anticipates a net income attributable to common stockholders ranging from $(13.2) million to $9.5 million for the third quarter[11]. - The company expects net sales for Q3 2026 to be approximately $1.129 billion, with a variance of plus or minus $20 million[37]. Operational Efficiency and Cost Management - The company is focused on operational efficiency and disciplined cost management to improve cash flow and reduce debt levels in the coming quarters[5]. Research and Development - Research and development expenses increased to $262.3 million in Q3 2025, up 8.5% from $240.7 million in Q3 2024, representing 23.0% of net sales[25]. Technological Advancements - The company introduced the industry's first 3nm PCIe Gen 6 switch, enhancing its technological leadership in AI and enterprise data center applications[4][5]. - The company launched the industry's first 3nm PCIe Gen 6 switch, marking a significant technological milestone[37]. Financial Metrics - Total assets as of September 30, 2025, were $14,469.7 million, down from $15,374.6 million as of March 31, 2025[23]. - Long-term debt decreased to $5,375.9 million from $5,630.4 million since March 31, 2025[23]. - Cash and short-term investments were $236.8 million as of September 30, 2025, a significant decrease from $771.7 million[23]. - GAAP cash flow from operations for Q2 2026 was $88.1 million, an increase of 102.9% from $43.6 million in Q2 2025[34]. - Free cash flow for Q2 2026 was $51.6 million, compared to $22.8 million in Q2 2025, marking a growth of 126.3%[34]. Company Overview - Microchip Technology reported financial results for the second quarter of fiscal 2026[42]. - The company is a broadline supplier of semiconductors, focusing on innovative design solutions across various markets[42]. - Microchip's comprehensive product portfolio supports customers from concept to completion in the design process[42]. - The company provides technical support and solutions in industrial, automotive, consumer, aerospace and defense, communications, and computing markets[42].
Genworth(GNW) - 2025 Q3 - Quarterly Report
2025-11-06 21:21
Capital Returns and Share Repurchases - Enact Holdings provided $110 million of capital returns to Genworth Holdings in Q3 2025, supporting strategic initiatives and share repurchases [294]. - Genworth Financial has repurchased $725 million worth of its common stock since the initial authorization of its share repurchase program in May 2022 [294]. - Genworth Financial executed $76 million of share repurchases during the third quarter of 2025, with a new share repurchase program authorized for up to $350 million [334]. Financial Performance - Total revenues for Q3 2025 were $1,935 million, a 3% increase from $1,880 million in Q3 2024 [312]. - Premiums earned in Q3 2025 were $886 million, up 1% from $874 million in Q3 2024 [312]. - Net investment gains increased by 50% to $99 million in Q3 2025, compared to $66 million in Q3 2024 [312]. - Net income available to common stockholders for Q3 2025 was $116 million, a 36% increase from $85 million in Q3 2024 [312]. - For the nine months ended September 30, 2025, total revenues were $5,517 million, a slight increase from $5,513 million in the same period of 2024 [314]. - Net investment income for the nine months ended September 30, 2025, decreased by 1% to $2,340 million from $2,367 million in 2024 [314]. - Income from continuing operations for Q3 2025 was $155 million, representing a 28% increase from $121 million in Q3 2024 [312]. - The provision for income taxes in Q3 2025 was $9 million, a significant decrease of 78% from $40 million in Q3 2024 [312]. - Total benefits and expenses for Q3 2025 were $1,771 million, a 3% increase from $1,719 million in Q3 2024 [312]. Long-Term Care Insurance - The long-term care insurance multi-year in-force rate action plan has achieved an estimated cumulative economic benefit of approximately $31.8 billion since 2012 [295]. - The liability for future policy benefits for the long-term care insurance business is $43.5 billion as of September 30, 2025, sensitive to interest rate movements [392]. - Legal settlements regarding premium increases for long-term care insurance policies covered approximately 70% of the long-term care insurance block, resulting in a favorable economic impact [398]. - Future approved rate actions are expected to partially offset the decline in renewal premiums as the block runs off [399]. - Premiums for the Long-Term Care Insurance segment increased by $16 million (3%) to $597 million in Q3 2025 compared to Q3 2024, driven by higher premiums from newly implemented in-force rate actions [400]. CareScout Services - CareScout Services expanded its network to over 700 home care providers with more than 950 locations nationwide, offering rates below the median cost of care [297]. - Genworth Financial acquired Seniorly on October 31, 2025, enhancing the CareScout Quality Network and expanding into the direct-to-consumer market [299]. - The CareScout Care Assurance product was launched in October 2025, approved in 37 states, featuring customizable coverage and access to the CareScout Quality Network [302]. - Genworth Financial plans to invest approximately $45 million to $50 million in CareScout Services for the full year 2025, excluding the Seniorly acquisition [301]. Ratings and Outlook - Moody's upgraded Genworth Holdings' senior unsecured debt rating to "Baa3" and Enact Mortgage Insurance Corporation's financial strength rating to "A2" in August 2025 [304]. - A.M. Best revised the outlook to positive for Genworth Life Insurance Company and affirmed the financial strength rating of "C++" in September 2025 [305]. - Genworth Financial anticipates that investments in CareScout Services and CareScout Insurance will drive sustainable future growth and maximize long-term shareholder value [303]. Investment and Assets - As of September 30, 2025, the consolidated risk-based capital ratio of U.S. domiciled life insurance subsidiaries was approximately 303%, down from 306% as of December 31, 2024 [331]. - Genworth Holdings had $254 million of unrestricted cash and cash equivalents as of September 30, 2025, including $145 million for future obligations [334]. - As of September 30, 2025, Enact had estimated available assets of $4,974 million against $3,070 million net required assets under PMIERs [349]. - Enact's risk-to-capital ratio was 10.2:1 as of September 30, 2025, down from 10.5:1 at the end of 2024 [348]. - The total cash, cash equivalents, and invested assets increased to $61,449 million as of September 30, 2025, up from $59,976 million at the end of 2024, reflecting a 2.5% growth [472]. Delinquencies and Loss Ratios - New primary delinquencies in Q3 2025 were 12,998, resulting in $79 million of loss expense, compared to 12,964 delinquencies and $75 million of loss expense in Q3 2024 [345]. - The delinquency rate for primary insurance increased to 2.45% as of September 30, 2025, compared to 2.17% in the prior year, attributed to new delinquencies exceeding cures and paid claims [379]. - The loss ratio for the nine months ended September 30, 2025, increased to 12% from 10% in 2024, largely due to lower reserve releases and higher new delinquencies [376]. Tax Rates - The effective tax rate for Q3 2025 was 22.1%, compared to 21.3% in Q3 2024 [360]. - The effective tax rate for the nine months ended September 30, 2025, was 21.8%, consistent with the U.S. corporate federal income tax rate [368]. - The effective tax rate increased to 38.9% for the three months ended September 30, 2025, compared to 22.7% for the same period in 2024 [441]. - The effective tax rate decreased to 23.5% from 23.9% year-over-year, primarily due to tax benefits from tax-favored items [452]. Corporate and Other - Total revenues for Corporate and Other increased by $9 million, a 150% increase year-over-year [453]. - Adjusted operating loss available to common stockholders for Corporate and Other decreased by $6 million, a 22% improvement compared to the previous year [453]. - Total revenues for the nine months ended September 30, 2025, decreased by $17 million, a 94% decline compared to the same period in 2024 [458].
Barings(BBDC) - 2025 Q3 - Quarterly Report
2025-11-06 21:21
Investment Portfolio - As of September 30, 2025, the total value of the investment portfolio was $2,536.3 million, an increase from $2,449.3 million as of December 31, 2024[418] - The company had investments in 333 portfolio companies with an aggregate cost of $2,564.0 million as of September 30, 2025, compared to 328 companies and $2,522.7 million as of December 31, 2024[418] - As of September 30, 2025, the total investment portfolio fair value was $2,536.3 million, with senior debt and first lien notes comprising 70% of the portfolio[419] - The total cost of the investment portfolio as of September 30, 2025, was $2,564.0 million, with equity shares accounting for 15% of the total cost[419] - The fair value of the investment portfolio as of December 31, 2024, was $2,449.3 million, with senior debt and first lien notes also comprising 69% of the portfolio[419] Investment Performance - During the nine months ended September 30, 2025, the company made 47 new investments totaling $356.6 million and recognized a net realized loss of $27.7 million from 32 loan repayments totaling $187.0 million[420] - The company recognized a net realized gain of $3.9 million from the sale of equity investments totaling $25.9 million during the nine months ended September 30, 2025[420] - The company received $124.5 million in principal payments and sales proceeds from portfolio companies, with a net realized loss of $0.2 million on these transactions[420] - The net realized losses for the three months ended September 30, 2025, totaled $1.3 million, compared to net realized losses of $10.9 million for the same period in 2024, representing an improvement of 88.01%[450][452] - During the nine months ended September 30, 2025, net realized losses amounted to $17.5 million, a decrease from $24.3 million in the same period of 2024, reflecting a 28.68% improvement[450][459] Income and Expenses - Total investment income for the three months ended September 30, 2025, was $72.4 million, a slight increase from $70.9 million for the same period in 2024[437] - Net investment income after taxes for the three months ended September 30, 2025, was $33.6 million, compared to $30.2 million for the same period in 2024, reflecting a year-over-year increase of 8.0%[437] - Total operating expenses for the three months ended September 30, 2025, were $37.5 million, a decrease from $39.6 million in the same period of 2024[440] - Interest and other financing fees for the three months ended September 30, 2025, were $21.5 million, down from $22.6 million in the same period of 2024, primarily due to a lower weighted average interest rate[441] - Dividends from portfolio companies for the three months ended September 30, 2025, were $14.2 million, compared to $9.8 million for the same period in 2024, representing a 45.0% increase[439] Debt and Financing - The company had borrowings under the February 2019 Credit Facility of £48.6 million ($65.4 million) and €245.6 million ($288.6 million) with interest rates of 5.875% and 3.750% respectively[465] - The fair value of the borrowings outstanding under the February 2019 Credit Facility was $354.0 million as of September 30, 2025[466] - The company issued $50.0 million in Series A senior unsecured notes due August 2025 with a fixed interest rate of 4.66%[467] - The November 2020 NPA included $62.5 million in Series B senior unsecured notes due November 2025 and $112.5 million in Series C senior unsecured notes due November 2027, with fixed interest rates of 4.25% and 4.75% respectively[472] - The company entered into a $300.0 million notional value interest rate swap with a fixed rate interest of 5.20% and a payment based on SOFR plus 2.059%, maturing on September 15, 2028[502] Cash and Liquidity - As of September 30, 2025, the company had $83.2 million in cash and foreign currencies on hand, including $12.9 million of restricted cash[459] - The company experienced a net cash decrease of $8.1 million for the nine months ended September 30, 2025, driven by significant cash outflows from operating activities[459] - For the nine months ended September 30, 2025, cash used in operating activities was $44.0 million, primarily due to portfolio investments purchases totaling $561.6 million[459] - The total unused commitments to extend financing amounted to $20,000, with specific commitments including $1,031 for Accelevation LLC and $1,671 for Accurus Aerospace Corporation[538] Shareholder Returns - The company authorized a new share repurchase program on February 20, 2025, allowing for the repurchase of up to $30.0 million in common stock, effective until March 1, 2026[504] - During the nine months ended September 30, 2025, the company repurchased 250,000 shares at an average price of $9.35 per share[504] - The company intends to pay quarterly distributions, with a declared distribution of $0.26 per share payable on December 10, 2025[511] - The company has adopted a dividend reinvestment plan (DRIP) for stockholders, allowing for automatic reinvestment of dividends unless opted out[505] Risk and Valuation - The fair value of investments is determined using Level 3 inputs for privately held companies, with independent valuations performed quarterly for certain loans and equity investments[524] - The company may need to distribute income to stockholders to meet minimum distribution requirements, even for non-accrual investments[530] - The fair value of investments in certain LLCs is estimated using NAV and ownership percentage due to the lack of readily determinable fair values[526] - A hypothetical increase of 300 basis points in interest rates would result in an increase in net income by $30,692 thousand, while a decrease of 50 basis points would lead to a decrease in net income by $5,115 thousand[551]
Topgolf Callaway Brands (MODG) - 2025 Q3 - Quarterly Results
2025-11-06 21:20
HIGHLIGHTS CARLSBAD, CA /November 6, 2025/ Topgolf Callaway Brands Corp. (the "Company" or "Topgolf Callaway Brands," "we," "our," "us") (NYSE: MODG) announced its financial results for the third quarter ended September 30, 2025. "We are pleased with our third quarter results, with both revenue and Adjusted EBITDA exceeding our expectations," commented Chip Brewer, President and Chief Executive Officer of Topgolf Callaway Brands Corp. "These results were led by strong performance and market conditions in ou ...
Eastman Kodak(KODK) - 2025 Q3 - Quarterly Results
2025-11-06 21:20
Financial Performance - Consolidated revenues for Q3 2025 were $269 million, an increase of $8 million or 3% compared to Q3 2024[3] - Advanced Materials & Chemicals (AM&C) revenues increased to $82 million, up $11 million or 15% year-over-year[3] - Gross profit rose to $68 million, a significant increase of $23 million or 51% compared to Q3 2024[3] - Operational EBITDA for Q3 2025 was $29 million, an increase of $28 million compared to $1 million in Q3 2024[3] - GAAP net income for the quarter was $13 million, a decrease of $5 million or 28% from Q3 2024[3] - Total revenues for Q3 2025 were $269 million, an increase of 3% from $261 million in Q3 2024[25] - Operational EBITDA for Q3 2025 was $29 million, a significant increase of 2800% compared to $1 million in Q3 2024[24] - Net income for Q3 2025 decreased to $13 million, down 28% from $18 million in Q3 2024[24] - Gross profit for Q3 2025 was $68 million, up from $45 million in Q3 2024, reflecting improved cost management[25] Cash and Liabilities - Cash balance at the end of Q3 2025 was $168 million, an increase of $13 million from the previous quarter[6] - Cash and cash equivalents decreased to $168 million as of September 30, 2025, down from $201 million at the end of 2024[27] - Total current liabilities rose significantly to $749 million in Q3 2025, compared to $261 million in Q4 2024[27] - The company reported a net cash used in operating activities of $9 million for the nine months ended September 30, 2025, compared to $11 million for the same period in 2024[29] Operational Insights - AM&C's Operational EBITDA increased by $10 million, driven by price increases and higher volumes in Industrial Film and Chemicals[7] - Print revenues decreased to $177 million, down $5 million or 3% year-over-year, primarily due to lower volume in Prepress Solutions[8] - Research and development costs for Q3 2025 were $7 million, slightly down from $8 million in Q3 2024, indicating a focus on cost control[25] Financial Stability - Kodak has resolved prior going concern conditions, enhancing its financial stability[11] - The pension reversion transaction is expected to yield proceeds increasing from $500 million to $600 million[2] - Interest expense increased to $18 million in Q3 2025 from $14 million in Q3 2024, indicating higher borrowing costs[24] Asset Management - The company’s total assets increased to $2,075 million as of September 30, 2025, compared to $2,001 million at the end of 2024[27]