Workflow
Kimbell Royalty Partners(KRP) - 2025 Q2 - Quarterly Results
2025-08-07 11:09
[Second Quarter 2025 Highlights](index=1&type=section&id=Second%20Quarter%202025%20Highlights) Kimbell Royalty Partners reported strong Q2 2025 results with **25,355 Boe/d** production, **$74.7 million** in revenues, **$63.8 million** Adjusted EBITDA, and a **$0.38** cash distribution per common unit, maintaining **88** active rigs | Metric | Value | | :--- | :--- | | **Run-Rate Daily Production** | 25,355 Boe/d (6:1) | | **Oil, Natural Gas & NGL Revenues** | $74.7 million | | **Net Income** | ~$26.7 million | | **Consolidated Adjusted EBITDA** | $63.8 million | | **Cash G&A per BOE** | $2.36 | | **Active Rigs on Acreage** | 88 (17% U.S. market share) | | **Q2 2025 Cash Distribution** | $0.38 per common unit | - The company announced a Q2 2025 cash distribution of **$0.38 per common unit**, representing a **75% payout ratio** and a **10.3% annualized yield**. The remaining **25%** of cash available for distribution will be used to repay outstanding borrowings[4](index=4&type=chunk) - As of June 30, 2025, Kimbell's major properties had **7.99 net DUCs** and permitted locations, exceeding the estimated **6.5 net wells** required to maintain flat production[4](index=4&type=chunk) [Management Commentary and Shareholder Distributions](index=2&type=section&id=Management%20Commentary%20and%20Shareholder%20Distributions) Management emphasized resilient operational performance, including increased U.S. land rig market share and a **$0.38** per common unit cash distribution, with remaining cash flow allocated to debt reduction - The CEO emphasized the company's strong operational position, with its market share of U.S. land rigs increasing to **17%** and net DUCs growing by **9%** quarter-over-quarter, indicating near-term production growth[5](index=5&type=chunk) - Cash G&A per BOE was below the low end of guidance, which management attributes to operational discipline and positive operating leverage[5](index=5&type=chunk) | Distribution Metric | Value | | :--- | :--- | | **Q2 2025 Distribution** | $0.38 per common unit | | **Payout Ratio** | 75% of cash available for distribution | | **Debt Paydown** | ~$13.6 million (remaining 25%) | | **Payment Date** | August 25, 2025 | | **Record Date** | August 18, 2025 | - Kimbell expects approximately **100%** of the Q2 2025 distribution to be considered a non-taxable return of capital for U.S. federal income tax purposes, which reduces the unitholder's cost basis[6](index=6&type=chunk)[7](index=7&type=chunk) [Financial and Operational Performance](index=2&type=section&id=Financial%20and%20Operational%20Performance) Kimbell achieved Q2 2025 revenues of **$86.5 million**, net income of **$26.7 million**, **25,355 Boe/d** production, maintained **7.99 net DUCs**, and managed debt at **$462.1 million** with a **1.6x** leverage ratio [Financial Highlights](index=2&type=section&id=Financial%20Highlights) Q2 2025 Realized Prices | Commodity | Average Realized Price | | :--- | :--- | | **Oil** | $63.48 / Bbl | | **Natural Gas** | $2.54 / Mcf | | **NGLs** | $24.10 / Bbl | | **Combined** | $33.04 / Boe | Q2 2025 Key Financial Metrics | Metric | Value | | :--- | :--- | | **Total Revenues** | $86.5 million | | **Net Income** | ~$26.7 million | | **Net Income (to common units)** | ~$2.0 million ($0.02/unit) | | **Consolidated Adjusted EBITDA** | $63.8 million | - As of June 30, 2025, Kimbell had **$462.1 million** in debt outstanding, with a net debt to TTM consolidated Adjusted EBITDA ratio of approximately **1.6x**[11](index=11&type=chunk) - The company increased its borrowing base from **$550 million** to **$625 million** and redeemed **50%** of its Series A Preferred Units to simplify its capital structure[12](index=12&type=chunk) [Production](index=3&type=section&id=Production) Q2 2025 Production Breakdown | Metric | Value | | :--- | :--- | | **Average Daily Production** | 25,355 Boe/d (6:1) | | **Production Mix** | | |    Natural Gas | 47% | |    Liquids (Oil & NGLs) | 53% | |       Oil | 33% | |       NGLs | 20% | [Operational Update](index=3&type=section&id=Operational%20Update) - As of June 30, 2025, Kimbell had **88 rigs** actively drilling on its acreage, representing an approximate **16.5%** market share of all U.S. land rigs[15](index=15&type=chunk) DUCs and Permits by Basin (as of June 30, 2025) | Basin | Net DUCs | Net Permits | | :--- | :--- | :--- | | **Permian** | 3.27 | 2.15 | | **Eagle Ford** | 0.22 | 0.08 | | **Haynesville** | 0.35 | 0.13 | | **Mid-Continent** | 0.78 | 0.39 | | **Bakken** | 0.36 | 0.10 | | **Appalachia** | 0.02 | 0.02 | | **Rockies** | 0.10 | 0.02 | | **Total** | **5.10** | **2.89** | [Hedging Update](index=4&type=section&id=Hedging%20Update) Kimbell implemented fixed-price oil and natural gas swaps through Q2 2027 to stabilize cash flow by locking in future production prices Fixed Price Swaps as of June 30, 2025 | Period | Oil Volume (BBL) | Nat Gas Volume (MMBTU) | Wtd. Avg. Oil Price ($/BBL) | Wtd. Avg. Nat Gas Price ($/MMBTU) | | :--- | :--- | :--- | :--- | :--- | | **3Q 2025** | 136,068 | 1,261,964 | $74.20 | $3.74 | | **4Q 2025** | 146,372 | 1,291,680 | $68.26 | $3.68 | | **1Q 2026** | 146,880 | 1,296,000 | $70.38 | $4.07 | | **2Q 2026** | 148,512 | 1,310,400 | $70.78 | $3.33 | | **Full Year 2026** | 605,680 | 5,256,000 | ~$67.70 | ~$3.69 | | **Full Year 2027 (H1)** | 304,623 | 2,658,528 | ~$62.65 | ~$3.96 | [Financial Statements](index=7&type=section&id=Financial%20Statements) Q2 2025 unaudited financial statements report total assets of **$1.28 billion**, liabilities of **$483.5 million**, revenues of **$86.5 million**, and net income of **$26.7 million**, driven by derivative gains [Condensed Consolidated Balance Sheet](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheet) Balance Sheet Summary (as of June 30, 2025) | Account | Amount (in thousands) | | :--- | :--- | | **Total Current Assets** | $88,249 | | **Total Assets** | **$1,284,936** | | **Total Current Liabilities** | $16,185 | | **Long-Term Debt** | $462,096 | | **Total Liabilities** | **$483,533** | | **Total Unitholders' Equity** | **$643,008** | [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Statement of Operations Summary (Three Months Ended June 30) | Account (in thousands) | 2025 | 2024 | | :--- | :--- | :--- | | **Total Revenues** | $86,548 | $76,573 | | **Operating Income** | $37,786 | $23,892 | | **Net Income** | $26,672 | $15,187 | | **Net Income Attributable to Common Units** | $2,007 | $8,410 | | **Diluted EPS** | $0.02 | $0.11 | [Supplemental Schedules (Non-GAAP Reconciliations)](index=9&type=section&id=Supplemental%20Schedules%20(Non-GAAP%20Reconciliations)) This section defines and reconciles non-GAAP measures, showing Q2 2025 Consolidated Adjusted EBITDA of **$63.8 million**, **$47.1 million** cash available for distribution, and a net debt to TTM Adjusted EBITDA ratio of **1.6x** [Definition of Non-GAAP Measures](index=9&type=section&id=Definition%20of%20Non-GAAP%20Measures) - Adjusted EBITDA is used by management to evaluate operating performance and cash flow available for distributions, excluding items like depreciation, interest, taxes, and unrealized derivative gains/losses[28](index=28&type=chunk) - Cash G&A and Cash G&A per Boe are used to measure cash costs relative to production, providing a metric for operational efficiency[29](index=29&type=chunk) [Reconciliation of Net Income to Adjusted EBITDA and Cash Available for Distribution](index=10&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Adjusted%20EBITDA%20and%20Cash%20Available%20for%20Distribution) Q2 2025 Reconciliation Summary (in thousands) | Metric | Value | | :--- | :--- | | **Net Income** | $26,672 | | **Consolidated Adjusted EBITDA** | $63,844 | | **Adjusted EBITDA (attributable to KRP)** | $55,268 | | **Cash Available for Distribution (on common units)** | $47,121 | | **Cash Available per Common Unit** | $0.50 | | **Declared Distribution per Common Unit** | $0.38 | - The difference between cash available for distribution (**$0.50/unit**) and the declared distribution (**$0.38/unit**) is due to the company allocating **25%** of cash to repay debt on its revolving credit facility[33](index=33&type=chunk) [Net Debt to Trailing Twelve Month Consolidated Adjusted EBITDA Calculation](index=13&type=section&id=Net%20Debt%20to%20Trailing%20Twelve%20Month%20Consolidated%20Adjusted%20EBITDA%20Calculation) Leverage Ratio Calculation (as of June 30, 2025) | Metric (in thousands) | Value | | :--- | :--- | | **Long-Term Debt** | $462,096 | | **Cash and Cash Equivalents (capped)** | ($25,000) | | **Net Debt** | $437,096 | | **Trailing Twelve Month Adj. EBITDA** | $279,816 | | **Net Debt / TTM Adj. EBITDA** | **1.6x** |
GoHealth(GOCO) - 2025 Q2 - Quarterly Results
2025-08-07 11:08
AMENDMENT NO. 14 TO THE CREDIT AGREEMENT AMENDMENT NO. 14 TO THE CREDIT AGREEMENT, dated as of August 6, 2025 (this "Amendment"), by and among Blizzard Midco, LLC, a Delaware limited liability company ("Holdings"), Norvax, LLC, a Delaware limited liability company (the "Borrower"), the Lenders party hereto (constituting the Required Lenders, all of the Revolving Lenders and all of the Term Lenders) and Blue Torch Finance, LLC, as the administrative agent and the collateral agent (in such capacities, the "Ad ...
Cartesian Therapeutics(RNAC) - 2025 Q2 - Quarterly Report
2025-08-07 11:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 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: 001-37798 Cartesian Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 26-1622110 (State or oth ...
SELECTA BIOSCI(SELB) - 2025 Q2 - Quarterly Report
2025-08-07 11:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 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: 001-37798 Cartesian Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 26-1622110 (State or oth ...
Avadel Pharmaceuticals plc(AVDL) - 2025 Q2 - Quarterly Results
2025-08-07 11:07
[Q2 2025 Highlights and Updated 2025 Guidance](index=1&type=section&id=Second%20Quarter%20Highlights%20and%202025%20Guidance) Avadel reported strong Q2 2025 results with LUMRYZ™ net revenue of $68.1 million, a 64% year-over-year increase, leading to the first quarterly net income ($9.7 million) and positive cash flow since the product's launch. The number of patients on LUMRYZ grew 63% year-over-year to 3,100. Consequently, the company raised its full-year 2025 revenue guidance to $265-$275 million and provided Q3 2025 revenue guidance of $71-$75 million | Metric | Q2 2025 | Change vs Q2 2024 | | :--- | :--- | :--- | | LUMRYZ™ Net Revenue | $68.1 million | +64% | | Patients on LUMRYZ | 3,100 | +63% | | Net Income | $9.7 million | N/A (Turned from loss) | | Earnings Per Share (EPS) | $0.10 | N/A (Turned from loss) | | Guidance | 2025 Full Year | Q3 2025 | | :--- | :--- | :--- | | Net Product Revenue | $265 - $275 million (Raised) | $71 - $75 million | | Cash Operating Expenses | Not specified for full year | $50 - $55 million | - The company achieved its **first quarterly net income and positive cash flow** since the launch of LUMRYZ in 2023, driven by strong uptake, growing patient numbers, and improved persistency[3](index=3&type=chunk)[4](index=4&type=chunk) [Second Quarter 2025 Financial Results](index=2&type=section&id=Overview%20of%20Second%20Quarter%20Financial%20Results) In Q2 2025, Avadel's net product revenue from LUMRYZ sales grew 64% to $68.1 million compared to Q2 2024. The company achieved a significant financial turnaround, reporting a net income of $9.7 million, or $0.10 per diluted share, compared to a net loss of $13.8 million in the prior-year period. Total operating expenses remained relatively stable at $52.9 million | Financial Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Product Revenue | $68.1M | $41.5M | | Total Operating Expenses | $52.9M | $51.5M | | R&D Expenses | $4.3M | $4.1M | | SG&A Expenses | $48.6M | $47.4M | | Net Income (Loss) | $9.7M | ($13.8M) | | Diluted EPS | $0.10 | ($0.14) | - The company generated positive cash flow, increasing its cash, cash equivalents, and marketable securities by $15.0 million during the quarter to a total of $81.5 million as of June 30, 2025[4](index=4&type=chunk)[11](index=11&type=chunk) - Q2 2025 marked the **first quarter the company has generated net income** since LUMRYZ was launched[10](index=10&type=chunk) [Corporate and Pipeline Updates](index=1&type=section&id=Corporate%20and%20Pipeline%20Updates) Avadel strengthened its leadership by appointing Susan Rodriguez as COO. The company received a favorable court ruling affirming LUMRYZ's FDA approval and clinical superiority. In pipeline developments, LUMRYZ was granted FDA Orphan Drug Designation for Idiopathic Hypersomnia (IH), with the pivotal Phase 3 REVITALYZ trial for this indication on track to complete enrollment by the end of 2025 - Appointed Susan Rodriguez, an experienced biopharma executive, as Chief Operating Officer to oversee commercial strategy and operations[13](index=13&type=chunk) - The U.S. Court of Appeals affirmed the FDA's approval of LUMRYZ and its finding that the once-at-bedtime dosing is clinically superior to other oxybates[13](index=13&type=chunk) - LUMRYZ was granted FDA Orphan Drug Designation for the treatment of Idiopathic Hypersomnia (IH)[3](index=3&type=chunk)[13](index=13&type=chunk) - The Phase 3 REVITALYZ study for LUMRYZ in IH is on track to complete enrollment by the end of 2025, with topline data expected in 2026[3](index=3&type=chunk)[13](index=13&type=chunk) [About LUMRYZ™](index=3&type=section&id=About%20LUMRYZ) LUMRYZ™ (sodium oxybate) is the first and only FDA-approved once-at-bedtime treatment for cataplexy or excessive daytime sleepiness (EDS) in narcolepsy patients aged seven and older. It has been granted seven years of Orphan Drug Exclusivity due to its clinical superiority over twice-nightly oxybate treatments. The drug carries a BOXED Warning for risks associated with CNS depressants and is available only through a restricted REMS program - LUMRYZ is an FDA-approved, once-at-bedtime treatment for cataplexy or EDS in adults and pediatric patients (7+) with narcolepsy[14](index=14&type=chunk) - The FDA granted LUMRYZ **seven years of Orphan Drug Exclusivity**, finding its once-nightly dosing a major contribution to patient care over twice-nightly products[16](index=16&type=chunk) - **BOXED WARNING**: Taking LUMRYZ with other CNS depressants (e.g., alcohol, sedatives) can cause serious medical problems, including respiratory depression and death[18](index=18&type=chunk) - Due to its active ingredient (GHB) and risk of abuse, LUMRYZ is a controlled substance available only through the restricted LUMRYZ REMS program[19](index=19&type=chunk)[20](index=20&type=chunk) [Financial Statements](index=6&type=section&id=Financial%20Statements) The consolidated financial statements detail Avadel's performance. The income statement shows a shift to profitability in Q2 2025 with a net income of $9.7 million. The balance sheet indicates growth in total assets to $187.2 million and shareholders' equity to $90.7 million. The cash flow statement highlights a significant improvement, with $4.5 million in cash provided by operations for the first six months of 2025, compared to a $47.9 million use of cash in the prior-year period [Condensed Consolidated Statements of Income (Loss)](index=6&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20INCOME%20(LOSS)) For the three months ended June 30, 2025, Avadel reported net product revenue of $68.1 million and a net income of $9.7 million, a substantial improvement from a net loss of $13.8 million in Q2 2024. For the six-month period, net income was $4.7 million, compared to a net loss of $41.2 million in the first half of 2024 | (In thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Net product revenue | $68,129 | $41,504 | $120,640 | $68,682 | | Gross profit | $61,763 | $38,716 | $108,697 | $64,372 | | Operating income (loss) | $8,884 | ($12,741) | $5,883 | ($38,776) | | Net income (loss) | $9,665 | ($13,822) | $4,745 | ($41,164) | | Net income (loss) per share - diluted | $0.10 | ($0.14) | $0.05 | ($0.44) | [Condensed Consolidated Balance Sheets](index=7&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of June 30, 2025, Avadel's total assets were $187.2 million, with cash, cash equivalents, and marketable securities totaling $81.5 million. Total liabilities stood at $96.4 million, resulting in total shareholders' equity of $90.7 million, an increase from $73.8 million at year-end 2024 | (In thousands) | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $63,402 | $51,371 | | Marketable securities | $18,145 | $22,406 | | Total current assets | $159,105 | $134,208 | | Total assets | $187,157 | $164,236 | | Total current liabilities | $57,065 | $48,834 | | Total liabilities | $96,448 | $90,388 | | Total shareholders' equity | $90,709 | $73,848 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) For the six months ended June 30, 2025, net cash provided by operating activities was $4.5 million, a significant positive shift from the $47.9 million used in operations during the same period in 2024. The company's cash and cash equivalents increased by $12.0 million in the first half of 2025 to end at $63.4 million | (In thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $4,465 | ($47,890) | | Net cash provided by investing activities | $4,063 | $31,937 | | Net cash provided by financing activities | $1,672 | $13,913 | | Net change in cash and cash equivalents | $12,031 | ($2,320) | | Cash and cash equivalents at end of period | $63,402 | $28,847 |
Cullinan Oncology(CGEM) - 2025 Q2 - Quarterly Report
2025-08-07 11:07
[PART I. FINANCIAL INFORMATION](index=6&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements (unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) The company's unaudited financials show a net loss of $118.6 million for H1 2025 and reduced total assets [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) Total assets decreased to $520.3 million as of June 30, 2025, driven by lower cash and investments Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $72,820 | $83,005 | | Total current assets | $275,911 | $414,668 | | Total assets | $520,329 | $621,824 | | **Liabilities & Equity** | | | | Total current liabilities | $28,058 | $30,647 | | Total liabilities | $28,183 | $31,496 | | Total stockholders' equity | $492,146 | $590,328 | | Total liabilities and stockholders' equity | $520,329 | $621,824 | [Consolidated Statements of Operations and Comprehensive Income (Loss)](index=7&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20(Loss)) Net loss for H1 2025 increased to $118.6 million from $79.4 million in H1 2024 due to higher R&D expenses Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Research and development | $61,030 | $36,259 | $102,489 | $66,905 | | General and administrative | $14,768 | $13,768 | $28,305 | $26,111 | | Loss from operations | $(75,798) | $(50,027) | $(130,794) | $(93,016) | | Net loss attributable to Cullinan | $(70,055) | $(42,028) | $(118,556) | $(79,176) | | Basic and diluted net loss per share (Common) | $(1.07) | $(0.68) | $(1.81) | $(1.43) | [Consolidated Statements of Stockholders' Equity](index=8&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) Stockholders' equity declined to $492.1 million by June 30, 2025, primarily due to the net loss - The primary driver for the decrease in stockholders' equity in the first half of 2025 was the **net loss of $118.6 million**[24](index=24&type=chunk) - In the first half of 2024, the company raised **net proceeds of $262.7 million** from the issuance of common stock and pre-funded warrants[26](index=26&type=chunk)[54](index=54&type=chunk) [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations was $100.8 million for H1 2025, contributing to a $10.2 million decrease in cash Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(100,764) | $(74,538) | | Net cash provided by (used in) investing activities | $90,206 | $(172,156) | | Net cash provided by financing activities | $373 | $263,281 | | **Net (decrease) increase in cash** | **$(10,185)** | **$16,587** | [Notes to the Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) The company has sufficient cash for the next twelve months and expensed a $20.0 million upfront license fee - The company believes its cash, cash equivalents, and investments totaling **$510.9 million** as of June 30, 2025, will fund operations and capital expenditures for at least the next twelve months[34](index=34&type=chunk) - In June 2025, Cullinan entered into a license agreement with Genrix for velinotamig, paying a **$20.0 million upfront fee** which was recorded as R&D expense[44](index=44&type=chunk)[45](index=45&type=chunk)[47](index=47&type=chunk) - Under the Taiho co-development agreement for zipalertinib, Cullinan recorded its share of R&D costs from Taiho totaling **$7.8 million** and **$13.4 million** for the three and six months ended June 30, 2025, respectively[50](index=50&type=chunk) - In April 2024, Cullinan raised **net proceeds of $262.7 million** through a private placement of common stock and pre-funded warrants[54](index=54&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) R&D expenses rose due to a $20.0 million license fee, while cash reserves are deemed sufficient for operations [Overview](index=21&type=section&id=Overview) The company is a clinical-stage biopharmaceutical firm focused on immunology and oncology programs - **Immunology Pipeline:** - **CLN-978 (CD19xCD3):** Phase 1 trials ongoing in SLE, RA, and SjD, with initial SLE data expected in Q4 2025 - **Velinotamig (BCMAxCD3):** Licensed from Genrix; a Phase 1 trial in autoimmune diseases is planned by Genrix in China by year-end 2025[78](index=78&type=chunk)[80](index=80&type=chunk) - **Oncology Pipeline:** - **Zipalertinib (EGFR inhibitor):** Co-developed with Taiho, Phase 2b met its primary endpoint in NSCLC, with an NDA submission planned by year-end 2025 - **CLN-049 (FLT3xCD3):** Phase 1 trial ongoing in AML, with data expected in Q4 2025 - **CLN-619 (MICA/B antibody):** Phase 1 continues in NSCLC and multiple myeloma - **CLN-617 (IL-2/IL-12 fusion protein):** Phase 1 ongoing in advanced solid tumors[79](index=79&type=chunk)[80](index=80&type=chunk)[88](index=88&type=chunk) - The company recently **discontinued development of CLN-619** in gynecological cancers and **terminated the license for CLN-418** to focus resources[82](index=82&type=chunk)[83](index=83&type=chunk) [Results of Operations](index=27&type=section&id=Results%20of%20Operations) Operating expenses increased significantly, driven by a one-time $20.0 million R&D in-licensing fee - The **$24.8 million increase in Q2 2025 R&D expenses** was primarily driven by a **$20.0 million upfront license fee** for velinotamig, along with higher clinical and personnel costs[99](index=99&type=chunk) - The **$35.6 million increase in H1 2025 R&D expenses** was also mainly due to the **$20.0 million velinotamig fee**, plus increases in clinical costs ($9.7 million) and personnel costs ($5.6 million)[100](index=100&type=chunk) Research and Development Expenses by Category (in thousands) | Category | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Clinical-stage product candidates | $25,022 | $23,689 | $51,661 | $43,326 | | Early-stage programs | $1,986 | $1,455 | $3,008 | $2,816 | | R&D personnel and operations | $9,741 | $7,236 | $19,572 | $13,724 | | License agreement obligations | $20,115 | $25 | $20,153 | $50 | | Equity-based compensation | $4,166 | $3,854 | $8,095 | $6,989 | | **Total R&D Expenses** | **$61,030** | **$36,259** | **$102,489** | **$66,905** | [Liquidity and Capital Resources](index=29&type=section&id=Liquidity%20and%20Capital%20Resources) The company holds $510.9 million in cash and investments, sufficient for at least the next twelve months - As of June 30, 2025, the company had **$510.9 million in cash, cash equivalents, and investments**[105](index=105&type=chunk) - The company expects its current capital to fund operations through **at least the next twelve months** from the financial statement issuance date[106](index=106&type=chunk) - The company has an at-the-market (ATM) equity offering program with **$85.6 million remaining available** for sale as of June 30, 2025[109](index=109&type=chunk) Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(100,764) | $(74,538) | | Net cash provided by (used in) investing activities | $90,206 | $(172,156) | | Net cash provided by financing activities | $373 | $263,281 | [Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable as the company qualifies as a smaller reporting company - As a smaller reporting company, Cullinan is **not required to provide the information** for this item[126](index=126&type=chunk) [Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were deemed effective with no material changes to internal controls - The Principal Executive Officer and Principal Financial Officer concluded that **disclosure controls and procedures were effective** as of June 30, 2025[127](index=127&type=chunk) - **No changes occurred** during the fiscal quarter ended June 30, 2025, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[129](index=129&type=chunk) [PART II. OTHER INFORMATION](index=36&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=36&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings - Cullinan is not currently party to any litigation or legal proceedings that management believes are probable to have a **material adverse effect** on the business[131](index=131&type=chunk) [Risk Factors](index=36&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor was added related to reduced reporting requirements as a smaller reporting company - A new risk factor has been added: due to its qualification as a smaller reporting company, the company will be subject to reduced reporting requirements, which could make its **common stock less attractive** to investors[133](index=133&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This item is not applicable for the reporting period [Defaults Upon Senior Securities](index=36&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This item is not applicable for the reporting period [Mine Safety Disclosures](index=36&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable for the reporting period [Other Information](index=36&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted, modified, or terminated a Rule 10b5-1 trading arrangement - No directors or officers adopted, modified, or terminated a **Rule 10b5-1 trading plan** during the fiscal quarter[136](index=136&type=chunk) [Exhibits](index=37&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed, including a new license agreement and officer certifications
Americold Realty Trust(COLD) - 2025 Q2 - Quarterly Results
2025-08-07 11:07
[Corporate Profile](index=3&type=section&id=Corporate%20Profile) Americold is a global leader in temperature-controlled logistics real estate, operating 237 warehouses with approximately 1.5 billion refrigerated cubic feet of storage globally [Company Overview](index=3&type=section&id=Company%20Overview) Americold is a global leader in temperature-controlled logistics real estate, owning and operating 237 warehouses with 1.5 billion refrigerated cubic feet of storage - Americold operates **237** temperature-controlled warehouses globally, with a total storage capacity of approximately **1.5 billion** refrigerated cubic feet[5](index=5&type=chunk) [Management, Board, and Investor Relations](index=3&type=section&id=Management%2C%20Board%2C%20and%20Investor%20Relations) The report lists the company's senior management team, led by CEO George F. Chappelle, Jr., and the Board of Directors - Key leadership includes **George F. Chappelle, Jr.** as Chief Executive Officer and **Mark R. Patterson** as Chairman of the Board[6](index=6&type=chunk)[7](index=7&type=chunk) [Analyst Coverage, Stock Info, and Credit Ratings](index=4&type=section&id=Analyst%20Coverage%2C%20Stock%20Info%2C%20and%20Credit%20Ratings) The company is covered by numerous financial firms, its stock trades on the NYSE under "COLD", and it holds investment-grade credit ratings - The company's common stock is listed on the New York Stock Exchange under the ticker symbol **"COLD"**[9](index=9&type=chunk) Credit Ratings | Rating Agency | Rating | Outlook/Trend | | :--- | :--- | :--- | | DBRS Morningstar | BBB | Positive Trend | | Fitch | BBB | Stable Outlook | | Moody's | Baa3 | Stable Outlook | [Earnings Release](index=5&type=section&id=Earnings%20Release) Americold reported Q2 2025 Adjusted FFO of $0.36 per share, launched new development projects, and updated its full-year 2025 outlook [Second Quarter 2025 Highlights & CEO Commentary](index=5&type=section&id=Second%20Quarter%202025%20Highlights%20%26%20CEO%20Commentary) Americold reported Q2 2025 Adjusted FFO of $0.36 per share, launched new development projects, and updated its full-year outlook Q2 2025 Key Financial Metrics | Metric | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $650.7M | $661.0M | -1.5% | | Net Income | $1.6M | N/A (Net Loss) | N/A | | Net Income per Share | $0.01 | ($0.23) | N/A | | Adjusted FFO per Share | $0.36 | $0.38 | -5.6% | | Core EBITDA | $159.1M | $165.5M | -3.9% | - The company launched three significant development projects: a partnership with CPKC in Kansas City, an expansion in Allentown, and a new facility with DP World in Dubai[13](index=13&type=chunk) - CEO commentary indicates that occupancy and throughput levels are expected to remain below typical seasonal trends in the second half of the year due to a challenging demand environment[13](index=13&type=chunk) [2025 Full-Year Outlook](index=6&type=section&id=2025%20Full-Year%20Outlook) The company updated its full-year 2025 guidance, lowering its outlook for same-store revenue growth and adjusting its Adjusted FFO per share range Updated 2025 Full-Year Guidance | Metric | New Guidance (Aug 7, 2025) | Old Guidance (May 8, 2025) | | :--- | :--- | :--- | | Same Store Revenue Growth (CC) | (4.0)% - 0.0% | 0.0% - 2.0% | | Total Maintenance CapEx | $60M - $70M | $80M - $85M | | Adjusted FFO per Share | $1.39 - $1.45 | $1.42 - $1.52 | [Second Quarter 2025 Total Company Financial Results](index=6&type=section&id=Second%20Quarter%202025%20Total%20Company%20Financial%20Results) Q2 2025 total revenues decreased by 1.5% to $650.7 million, with net income improving to $1.6 million from a prior-year net loss Q2 2025 vs Q2 2024 Financial Performance | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Total Revenues | $650.7M | $661.0M | | Total NOI | $211.7M | N/A | | Net Income (Loss) | $1.6M | ($64.4M) | | Core EBITDA | $159.1M | $165.5M | | Core FFO per Share | $0.27 | $0.33 | | Adjusted FFO per Share | $0.36 | $0.38 | - The significant year-over-year improvement in net income was primarily driven by the absence of a **$110.7 million loss on debt extinguishment** that occurred in Q2 2024[23](index=23&type=chunk) [Global Warehouse Segment Results](index=8&type=section&id=Global%20Warehouse%20Segment%20Results) The Global Warehouse segment saw a 1.1% revenue decrease to $594.1 million and a 1.7% NOI decrease to $201.0 million in Q2 2025, driven by lower volumes [Total Warehouse Segment Performance (Q2 & YTD)](index=8&type=section&id=Total%20Warehouse%20Segment%20Performance%20%28Q2%20%26%20YTD%29) Q2 2025 Total Warehouse segment revenues declined 1.1% to $594.1 million, with NOI falling 1.7% and economic occupancy dropping 430 basis points Q2 2025 Total Warehouse Segment Performance (vs Q2 2024) | Metric | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $594.1M | $600.4M | -1.1% | | Contribution (NOI) | $201.0M | $204.5M | -1.7% | | Economic Occupancy | 73.8% | 78.1% | -430 bps | | Physical Occupancy | 62.8% | 67.8% | -500 bps | YTD 2025 Total Warehouse Segment Performance (vs YTD 2024) | Metric | YTD 2025 | YTD 2024 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $1,169.4M | $1,198.1M | -2.4% | | Contribution (NOI) | $397.6M | $401.7M | -1.0% | | Economic Occupancy | 74.3% | 78.8% | -450 bps | | Physical Occupancy | 63.1% | 68.3% | -520 bps | [Same Store Warehouse Performance (Q2 & YTD)](index=9&type=section&id=Same%20Store%20Warehouse%20Performance%20%28Q2%20%26%20YTD%29) Same-store portfolio in Q2 2025 saw a 1.5% revenue decline and a 4.2% NOI decline, with economic occupancy falling 410 basis points to 75.5% Q2 2025 Same Store Performance (vs Q2 2024) | Metric | Q2 2025 | Q2 2024 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $573.1M | $581.9M | -1.5% | | Contribution (NOI) | $199.2M | $208.0M | -4.2% | | Economic Occupancy | 75.5% | 79.6% | -410 bps | | Services Margin | 13.3% | 12.4% | +90 bps | YTD 2025 Same Store Performance (vs YTD 2024) | Metric | YTD 2025 | YTD 2024 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $1,133.1M | $1,155.1M | -1.9% | | Contribution (NOI) | $391.9M | $409.2M | -4.2% | | Economic Occupancy | 76.0% | 80.2% | -420 bps | [Segment Analysis and Key Metrics](index=14&type=section&id=Segment%20Analysis%20and%20Key%20Metrics) Warehouse segment revenue and NOI declined due to lower volumes, with 59.7% of rent and storage revenues from fixed commitment contracts - The decrease in Global Warehouse segment revenue was principally driven by lower volumes and throughput due to a competitive environment, changes in consumer buying habits, and lapping a counter-cyclical inventory build from the prior year[57](index=57&type=chunk) - Annualized rent and storage revenues from fixed commitment contracts stood at **$617.4 million** as of June 30, 2025, representing **59.7%** of total rent and storage revenues[59](index=59&type=chunk) - Economic occupancy for the total warehouse segment was **73.8%**, a **1,100 basis point spread** above the physical occupancy, demonstrating the value of fixed commitment contracts[60](index=60&type=chunk) [Balance Sheet, Liquidity, and Dividends](index=14&type=section&id=Balance%20Sheet%2C%20Liquidity%2C%20and%20Dividends) As of June 30, 2025, Americold had $937.0 million in liquidity, net debt of $3.9 billion, and declared a $0.23 per share dividend - Total liquidity was approximately **$937.0 million**, including cash and available capacity on its revolving credit facility[62](index=62&type=chunk) - Net debt to pro forma Core EBITDA was approximately **6.3x** at the end of the quarter[62](index=62&type=chunk) - The company's debt structure is predominantly **fixed-rate (92.7%)** and **unsecured (95.2%)**, with a weighted average term of **4.9 years**[62](index=62&type=chunk) - A dividend of **$0.23 per share** was declared for Q2 2025, representing a **5% increase** compared to the prior year[63](index=63&type=chunk) [Financial Information](index=17&type=section&id=Financial%20Information) This section presents the company's condensed consolidated balance sheets, statements of operations, and reconciliations of non-GAAP financial measures [Condensed Consolidated Balance Sheets](index=17&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of June 30, 2025, shows total assets of $8.09 billion and total liabilities of $4.94 billion Balance Sheet Summary (in thousands) | Account | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total Assets | $8,089,619 | $7,735,954 | | Total Liabilities | $4,944,299 | $4,428,949 | | Total Equity | $3,145,320 | $3,307,005 | [Condensed Consolidated Statements of Operations](index=18&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 total revenues were $650.7 million, with a net income of $1.6 million ($0.01 per share), a significant improvement from a prior-year net loss Statement of Operations Summary (in thousands) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Total Revenues | $650,748 | $660,955 | | Operating Income | $37,595 | $63,368 | | Net Income (Loss) | $1,550 | ($64,409) | | Net Income (Loss) per Share | $0.01 | ($0.23) | [Reconciliation of Net Income (Loss) to NAREIT FFO, Core FFO and Adjusted FFO](index=19&type=section&id=Reconciliation%20of%20Net%20Income%20%28Loss%29%20to%20NAREIT%20FFO%2C%20Core%20FFO%20and%20Adjusted%20FFO) This section reconciles GAAP Net Income to NAREIT FFO, Core FFO, and Adjusted FFO for Q2 2025 Q2 FFO Reconciliation Summary (in thousands, except per share) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Income (Loss) | $1,550 | ($64,409) | | NAREIT FFO | $49,100 | ($7,528) | | Core FFO | $75,827 | $95,023 | | Adjusted FFO | $103,587 | $109,397 | | Adjusted FFO per Diluted Share | $0.36 | $0.38 | [Reconciliation of Net Income (Loss) to NAREIT EBITDAre and Core EBITDA](index=21&type=section&id=Reconciliation%20of%20Net%20Income%20%28Loss%29%20to%20NAREIT%20EBITDAre%20and%20Core%20EBITDA) For Q2 2025, Core EBITDA was $159.1 million, a decrease from $165.5 million in Q2 2024, with the Core EBITDA margin contracting to 24.4% Q2 EBITDA Reconciliation Summary (in thousands) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Income (Loss) | $1,550 | ($64,409) | | NAREIT EBITDAre | $122,713 | $57,444 | | Core EBITDA | $159,105 | $165,482 | | Core EBITDA Margin | 24.4% | 25.0% | [Debt Detail and Maturities](index=22&type=section&id=Debt%20Detail%20and%20Maturities) As of June 30, 2025, Americold had $4.05 billion in total debt, with a 4.14% weighted average interest rate and 6.3x Net Debt to Pro Forma Core EBITDA Debt Profile as of June 30, 2025 | Metric | Value | | :--- | :--- | | Total Debt Outstanding | $4.05B | | Net Debt | $3.95B | | Weighted Avg. Interest Rate | 4.14% | | Weighted Avg. Maturity | 4.9 years | | % Fixed Rate (incl. hedges) | 92.7% | | % Unsecured | 95.2% | | Net Debt to Pro Forma Core EBITDA | 6.3x | [Operations Overview](index=23&type=section&id=Operations%20Overview) This section details the company's fixed commitment and lease maturity schedules, capital expenditures, and external growth activities [Fixed Commitment and Lease Maturity Schedules](index=24&type=section&id=Fixed%20Commitment%20and%20Lease%20Maturity%20Schedules) As of June 30, 2025, the company had 604 fixed commitment and lease contracts, generating $617.4 million in annualized rent and storage revenues, with 19.3% expiring in 2026 Fixed Commitment Contract Expiration Schedule (Annualized Rent & Storage Revenues in thousands) | Expiration Year | Annualized Revenues (in thousands) | % of Total | | :--- | :--- | :--- | | Month-to-Month | $100,095 | 9.7% | | 2025 | $59,918 | 5.8% | | 2026 | $199,812 | 19.3% | | 2027 | $61,296 | 5.9% | | 2028 | $47,483 | 4.6% | | 2029+ | $148,775 | 14.4% | | **Total** | **$617,379** | **59.7%** | [Capital Expenditures and Repair and Maintenance Expenses](index=26&type=section&id=Capital%20Expenditures%20and%20Repair%20and%20Maintenance%20Expenses) Total capital expenditures for Q2 2025 surged to $199.8 million, primarily due to expansion and development spending, with YTD capex reaching $421.8 million Capital Expenditures Summary (in thousands) | Category | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | Maintenance | $17,283 | $22,832 | $32,082 | $40,765 | | External growth & integration | $0 | $0 | $108,448 | $0 | | Expansion, development & organic | $177,211 | $32,881 | $271,469 | $62,833 | | Technological upgrades | $5,324 | $2,759 | $9,835 | $3,739 | | **Total Capital Expenditures** | **$199,818** | **$58,472** | **$421,834** | **$107,337** | - Total repair and maintenance expenses, which are expensed rather than capitalized, were **$30.6 million** for Q2 2025, slightly up from **$29.3 million** in Q2 2024[109](index=109&type=chunk) [External Growth and Capital Deployment](index=28&type=section&id=External%20Growth%20and%20Capital%20Deployment) The company completed projects in Allentown and Kansas City, has four major expansion projects underway, and acquired a Houston facility for $127 million - Recently completed development projects include an expansion in Allentown, PA and a new facility in Kansas City, MO, both expected to stabilize in 2026[120](index=120&type=chunk) - Four major projects are in process, including a large-scale automated expansion in Dallas Ft. Worth, TX, with a total estimated cost of **$145-$155 million**[121](index=121&type=chunk) - The company acquired a facility in Houston, TX on March 17, 2025, for an acquisition price of **$127 million**, which includes **$16 million** for upgrades, with stabilization expected in Q1 2027 and a **10-12% NOI ROIC**[123](index=123&type=chunk) [Other Supplemental Information](index=29&type=section&id=Other%20Supplemental%20Information) This section provides historical performance trends for same-store operations and details on the company's unconsolidated joint ventures [Same Store Historical Performance Trend](index=29&type=section&id=Same%20Store%20Historical%20Performance%20Trend) Same-store NOI peaked in Q2 2024 at $208.0 million and has since declined to $199.2 million in Q2 2025, with economic occupancy also trending downwards Quarterly Same Store Performance Trend | Metric | Q2 25 | Q1 25 | Q4 24 | Q3 24 | Q2 24 | Q1 24 | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Total Revenues ($M) | $573.1 | $560.0 | $592.6 | $595.8 | $581.9 | $573.3 | | Contribution (NOI) ($M) | $199.2 | $192.7 | $206.4 | $201.1 | $208.0 | $201.2 | | Economic Occupancy % | 75.5% | 76.6% | 79.3% | 78.3% | 79.6% | 80.8% | [Unconsolidated Joint Ventures](index=30&type=section&id=Unconsolidated%20Joint%20Ventures) The company sold its 14.99% equity interest in the SuperFrio joint venture in April 2025 and retains a 49% share in the Dubai-based RSA joint venture - The company finalized the sale of its **14.99% equity interest** in the SuperFrio joint venture in April 2025[130](index=130&type=chunk) - Americold owns a **49% equity share** in the RSA joint venture in Dubai, with its pro rata share of the JV's debt at **$18.7 million** as of June 30, 2025[131](index=131&type=chunk)[132](index=132&type=chunk) [Reconciliations, Notes, and Definitions](index=32&type=section&id=Reconciliations%2C%20Notes%2C%20and%20Definitions) This section provides detailed segment revenues and contribution, along with definitions for key non-GAAP financial measures used in the report [Revenues and Contribution (NOI) by Segment](index=32&type=section&id=Revenues%20and%20Contribution%20%28NOI%29%20by%20Segment) For Q2 2025, the Warehouse segment was the largest contributor to both revenue ($594.1 million) and NOI ($201.0 million) among the three business segments Q2 2025 Revenue and Contribution (NOI) by Segment (in thousands) | Segment | Revenues | Contribution (NOI) | | :--- | :--- | :--- | | Warehouse | $594,070 | $201,005 | | Transportation | $48,097 | $8,742 | | Third-party managed | $8,581 | $1,909 | | **Total** | **$650,748** | **$211,656** | [Notes and Definitions](index=33&type=section&id=Notes%20and%20Definitions) This section defines non-GAAP financial measures such as NAREIT FFO, Core FFO, Adjusted FFO, NAREIT EBITDAre, Core EBITDA, and NOI, used to assess operating performance - **NAREIT FFO** is calculated per NAREIT standards, starting with net income and excluding items like real estate depreciation and gains/losses on property sales[139](index=139&type=chunk) - **Core FFO** adjusts NAREIT FFO for items like acquisition costs, debt extinguishment losses, and foreign currency impacts to better reflect core business operations[140](index=140&type=chunk) - **Adjusted FFO (AFFO)** adjusts Core FFO for non-real estate depreciation, stock-based compensation, and maintenance capital expenditures to measure the ability to fund distributions and incremental investments[142](index=142&type=chunk) - **Core EBITDA** starts with NAREIT EBITDAre and adjusts for non-core items similar to Core FFO, providing a measure of operations excluding items not indicative of core performance[145](index=145&type=chunk)
Nexstar Media(NXST) - 2025 Q2 - Quarterly Results
2025-08-07 11:07
Exhibit 99.1 SECOND QUARTER 2025 EARNINGS RELEASE August 7, 2025 | ($ in millions) | | Three Months Ended June 30, | | | Six Months Ended June 30, | | | --- | --- | --- | --- | --- | --- | --- | | | 2025 | 2024 | % Change | 2025 | 2024 | % Change | | Distribution | $733 | $734 | (0.1) | $1,495 | $1,495 | - | | Advertising | 475 | 522 | (9.0) | 934 | 1,034 | (9.7) | | Other | 21 | 13 | 61.5 | 33 | 24 | 37.5 | | Net Revenue | $1,229 | $1,269 | (3.2) | $2,462 | $2,553 | (3.6) | | Net Income | $91 | $106 | (14. ...
Liberty Latin America(LILA) - 2025 Q2 - Quarterly Report
2025-08-07 11:06
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 June 30, 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: 001-38335 Liberty Latin America Ltd. (Exact name of Registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Or ...
Liberty Latin America(LILAK) - 2025 Q2 - Quarterly Report
2025-08-07 11:06
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 June 30, 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: 001-38335 Liberty Latin America Ltd. (Exact name of Registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Or ...