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REGENXBIO(RGNX) - 2025 Q2 - Quarterly Results
2025-08-07 11:15
[Executive Summary & Company Overview](index=1&type=section&id=Executive%20Summary%20%26%20Company%20Overview) [CEO Statement & Q2 2025 Highlights](index=1&type=section&id=CEO%20Statement%20%26%20Q2%202025%20Highlights) REGENXBIO's CEO, Curran M. Simpson, highlighted the acceleration of multiple first or best-in-class gene therapy programs in Q2 2025, including the potential FDA approval of clemidsogene lanparvovec (RGX-121) in November, rapid progress of RGX-202, and the advancement of a late-stage program for diabetic retinopathy - REGENXBIO is accelerating multiple first or best-in-class gene therapies for serious diseases like Duchenne, Hunter syndrome, and retinal diseases[3](index=3&type=chunk) - Potential FDA approval of clemidsogene lanparvovec (RGX-121) is on track for **November 2025**[3](index=3&type=chunk) - RGX-202 is progressing rapidly through pivotal study, and a new late-stage program for diabetic retinopathy is advancing[3](index=3&type=chunk) [About REGENXBIO Inc.](index=4&type=section&id=About%20REGENXBIO%20Inc.) REGENXBIO is a biotechnology company focused on AAV gene therapy, advancing a late-stage pipeline for rare and retinal diseases, including RGX-202 for Duchenne, RGX-121 for MPS II, RGX-111 for MPS I (with Nippon Shinyaku), and surabgene lomparvovec (sura-vec) for wet AMD and diabetic retinopathy (with AbbVie), with their AAV platform utilized in treatments for thousands of patients, including Novartis' ZOLGENSMA® - REGENXBIO is a biotechnology company pioneering AAV gene therapy since its founding in **2009**[23](index=23&type=chunk) - The company is advancing a late-stage pipeline of one-time treatments for rare and retinal diseases, including RGX-202, RGX-121, RGX-111, and surabgene lomparvovec[23](index=23&type=chunk) - Thousands of patients have been treated with REGENXBIO's AAV platform, including those receiving Novartis' ZOLGENSMA®[23](index=23&type=chunk) [Program Highlights and Milestones](index=1&type=section&id=PROGRAM%20HIGHLIGHTS%20AND%20MILESTONES) [Neuromuscular Disease Programs](index=1&type=section&id=Neuromuscular%20Disease%20Programs) REGENXBIO is making significant progress in its neuromuscular disease pipeline, with RGX-202 for Duchenne muscular dystrophy on track for accelerated pivotal trial enrollment and BLA submission, and clemidsogene lanparvovec (RGX-121) for MPS II nearing potential FDA approval following successful inspections [RGX-202 for Duchenne Muscular Dystrophy](index=1&type=section&id=RGX-202%20in%20Duchenne%20muscular%20dystrophy) RGX-202, a potential best-in-class gene therapy for Duchenne, is on track for topline results in 1H 2026 and BLA submission mid-2026, with pivotal trial enrollment accelerating and expected to complete in October 2025, ahead of previous guidance, and positive Phase I/II data demonstrating a favorable safety profile and robust microdystrophin expression - RGX-202 pivotal trial enrollment is expected to complete in **October 2025**, ahead of previous guidance[5](index=5&type=chunk)[6](index=6&type=chunk) - Topline results for RGX-202 are expected in the **first half of 2026**, with a Biologics License Application (BLA) submission planned for **mid-2026** under the accelerated approval pathway[5](index=5&type=chunk)[10](index=10&type=chunk) - Phase I/II data showed a favorable safety profile with no serious adverse events or signs of liver injury, and all dose level 2 participants exceeded external natural history controls on functional measures[10](index=10&type=chunk) [Clemidsogene lanparvovec (RGX-121) for MPS II (Hunter Syndrome)](index=1&type=section&id=Clemidsogene%20lanparvovec%20(RGX-121)%20for%20MPS%20II%20(Hunter%20Syndrome)) Clemidsogene lanparvovec (RGX-121) is on track to be the first gene therapy and one-time treatment for MPS II, with an FDA Prescription Drug User Fee Act (PDUFA) target action date of November 9, 2025, following successful FDA inspections of manufacturing, quality systems, and clinical data practices with no observations, and potential FDA approval could result in a Priority Review Voucher (PRV) - RGX-121 is on track for potential FDA approval as the first gene therapy for MPS II, with a PDUFA target action date of **November 9, 2025**[5](index=5&type=chunk)[10](index=10&type=chunk) - FDA Pre-license inspection (PLI) of the in-house manufacturing facility and Bioresearch monitoring information (BIMO) inspection of laboratory and clinical data practices were successfully completed with no observations[5](index=5&type=chunk)[10](index=10&type=chunk) - FDA approval could result in the receipt of a Priority Review Voucher (PRV), to which REGENXBIO has full rights[10](index=10&type=chunk) [Retinal Disease Programs](index=1&type=section&id=Retinal%20Disease%20Programs) REGENXBIO's surabgene lomparvovec (sura-vec) program for retinal diseases is advancing, with positive Phase II data supporting a pivotal program for diabetic retinopathy (DR) via suprachoroidal delivery, and ongoing pivotal trials for wet age-related macular degeneration (wet AMD) via subretinal delivery, with topline results expected in 2026 [Surabgene lomparvovec (sura-vec) for Diabetic Retinopathy (Suprachoroidal Delivery)](index=1&type=section&id=Sura-vec%20for%20the%20Treatment%20of%20DR%20(Suprachoroidal%20Delivery)) Sura-vec for diabetic retinopathy (DR) is advancing to a global pivotal program, supported by positive Phase II ALTITUDE® trial data reported in June 2025, demonstrating a durable safety and efficacy profile through two years with a single, in-office injection and no drug-related serious adverse events, with a two-part placebo-controlled Phase IIb/III trial to be initiated with 2-step DRSS improvement as the primary endpoint - Sura-vec using suprachoroidal delivery for diabetic retinopathy is advancing to a global pivotal program, supported by positive Phase II trial data[5](index=5&type=chunk)[10](index=10&type=chunk) - Phase II ALTITUDE® trial data demonstrated durable safety and efficacy in patients with non-proliferative DR through **two years** with a single, in-office injection, with no drug-related serious adverse events[10](index=10&type=chunk) - A two-part placebo-controlled Phase IIb/III trial will be initiated, with the primary endpoint being **2-step DRSS improvement**[10](index=10&type=chunk) [Surabgene lomparvovec (sura-vec) for Wet AMD (Subretinal Delivery)](index=1&type=section&id=Sura-vec%20for%20the%20Treatment%20of%20Wet%20AMD%20(Subretinal%20Delivery)) Enrollment is ongoing in the ATMOSPHERE® and ASCENT™ pivotal trials for the subretinal delivery of sura-vec in patients with wet AMD, with topline results expected in 2026, positioning sura-vec to be the first approved gene therapy for wet AMD - Enrollment is ongoing in the ATMOSPHERE® and ASCENT™ pivotal trials for subretinal delivery of sura-vec in patients with wet AMD[11](index=11&type=chunk) - Topline results for subretinal sura-vec in wet AMD are expected in **2026**[5](index=5&type=chunk)[11](index=11&type=chunk) - Sura-vec is on track to be the first approved gene therapy for wet AMD[5](index=5&type=chunk)[11](index=11&type=chunk) [Surabgene lomparvovec (sura-vec) for Wet AMD (Suprachoroidal Delivery)](index=3&type=section&id=Sura-vec%20for%20the%20Treatment%20of%20Wet%20AMD%20(Suprachoroidal%20Delivery)) The Phase II AAVIATE® trial continues enrolling a new cohort to evaluate sura-vec at dose level 4 (1.5x10e12 GC/eye) for wet AMD using suprachoroidal delivery, with patients in this cohort also receiving short-course prophylactic steroid eye drops - The Phase II AAVIATE® trial is enrolling a new cohort to evaluate suprachoroidal sura-vec at **dose level 4 (1.5x10e12 GC/eye)** for wet AMD[12](index=12&type=chunk) - Patients in this cohort will receive short-course prophylactic steroid eye drops[12](index=12&type=chunk) [Corporate Updates](index=3&type=section&id=CORPORATE%20UPDATES) [Royalty Monetization](index=3&type=section&id=Royalty%20Monetization) In May 2025, REGENXBIO closed a non-dilutive, limited recourse royalty bond agreement of up to $250 million with Healthcare Royalty (HCRx), receiving $150 million at closing and eligible for an additional $100 million in two separate $50 million tranches - Closed a non-dilutive, limited recourse royalty bond agreement of up to **$250 million** with Healthcare Royalty (HCRx) in **May 2025**[13](index=13&type=chunk) - Received **$150 million** at closing and is eligible for an additional **$100 million** in two **$50 million** tranches[13](index=13&type=chunk) [AbbVie Eye Care Collaboration Amendment](index=3&type=section&id=AbbVie%20Eye%20Care%20Collaboration) In August 2025, REGENXBIO and AbbVie amended their collaboration and license agreement, updating the milestone structure for the diabetic retinopathy (DR) program, with AbbVie paying REGENXBIO $100 million upon the first subject dosed in the Phase IIb/III trial and an additional $100 million for a second Phase III clinical trial, and AbbVie independently advancing and funding a new Phase III ACHIEVE trial for wet AMD - Amendment to the collaboration and license agreement with AbbVie includes an updated milestone structure for the DR program[17](index=17&type=chunk) - AbbVie will pay REGENXBIO **$100 million** upon first subject dosed in the Phase IIb/III trial and an additional **$100 million** upon first subject dosed in a second Phase III clinical trial[17](index=17&type=chunk) - AbbVie will independently advance and pay all costs for a new Phase III ACHIEVE trial in wet AMD[17](index=17&type=chunk) [Financial Results (Q2 2025)](index=3&type=section&id=FINANCIAL%20RESULTS) [Cash Position](index=3&type=section&id=Cash%20Position) REGENXBIO's cash, cash equivalents, and marketable securities increased to $363.6 million as of June 30, 2025, from $244.9 million at December 31, 2024, primarily driven by a $110.0 million upfront payment from the Nippon Shinyaku partnership and $144.5 million in net proceeds from the HCRx royalty monetization, partially offset by cash used in operating activities Cash, Cash Equivalents and Marketable Securities | Metric | June 30, 2025 (in millions) | December 31, 2024 (in millions) | Change | | :-------------------------------- | :-------------------------- | :-------------------------- | :----- | | Cash, cash equivalents & marketable securities | $363.6 | $244.9 | +$118.7 | - The increase was primarily attributable to a **$110.0 million** upfront payment from the Nippon Shinyaku partnership (March 2025) and **$144.5 million** in net proceeds from the royalty monetization with HCRx (May 2025)[15](index=15&type=chunk) [Revenues](index=3&type=section&id=Revenues) Total revenues for the three months ended June 30, 2025, decreased slightly to $21.4 million from $22.3 million in the prior year period, primarily due to lower Zolgensma royalties, partially offset by an increase in service revenues, mainly from the Nippon Shinyaku partnership Revenues (Three Months Ended June 30) | Revenue Type | Q2 2025 (in thousands) | Q2 2024 (in thousands) | YoY Change (in thousands) | YoY Change (%) | | :------------------------ | :--------------------- | :--------------------- | :------------------------ | :------------- | | License and royalty revenue | $18,465 | $21,846 | $(3,381) | -15.5% | | Service revenue | $2,894 | $449 | $2,445 | +544.5% | | **Total revenues** | **$21,359** | **$22,295** | **$(936)** | **-4.2%** | - The decrease in total revenues was primarily attributable to Zolgensma royalties, which decreased from **$21.8 million** in Q2 2024 to **$18.4 million** in Q2 2025[16](index=16&type=chunk) - The decrease was partially offset by an increase in service revenues, driven primarily by **$2.7 million** of development service revenue under the Nippon Shinyaku partnership in Q2 2025[16](index=16&type=chunk) [Operating Expenses](index=3&type=section&id=Operating%20Expenses) Operating expenses increased to $84.6 million in Q2 2025 from $78.3 million in Q2 2024, primarily driven by higher research and development expenses related to pivotal trials and increased general and administrative costs [Research and Development Expenses](index=3&type=section&id=Research%20and%20Development%20Expenses) Research and development expenses increased to $59.5 million for Q2 2025, up from $48.9 million for Q2 2024, primarily due to higher manufacturing-related expenses, other clinical supply costs, and clinical trial expenses for the sura-vec and RGX-202 pivotal trials Research and Development Expenses (Three Months Ended June 30) | Metric | Q2 2025 (in thousands) | Q2 2024 (in thousands) | YoY Change (in thousands) | YoY Change (%) | | :------------------------ | :--------------------- | :--------------------- | :------------------------ | :------------- | | Research and development | $59,500 | $48,869 | $10,631 | +21.8% | - The increase was primarily attributable to manufacturing-related expenses and other clinical supply costs and clinical trial expenses for sura-vec and RGX-202 pivotal trials[18](index=18&type=chunk) [General and Administrative Expenses](index=4&type=section&id=General%20and%20Administrative%20Expenses) General and administrative expenses increased slightly to $19.9 million for Q2 2025, compared to $18.9 million for Q2 2024, mainly due to increased personnel-related costs and expenses for consulting and professional services General and Administrative Expenses (Three Months Ended June 30) | Metric | Q2 2025 (in thousands) | Q2 2024 (in thousands) | YoY Change (in thousands) | YoY Change (%) | | :-------------------------- | :--------------------- | :--------------------- | :------------------------ | :------------- | | General and administrative | $19,883 | $18,855 | $1,028 | +5.5% | - The increase was primarily attributable to personnel-related costs and expenses for consulting and professional services[19](index=19&type=chunk) [Net Loss](index=4&type=section&id=Net%20Loss) REGENXBIO reported a net loss of $70.9 million, or $1.38 basic and diluted net loss per share, for Q2 2025, widening from a net loss of $53.0 million, or $1.05 per share, in Q2 2024, primarily driven by higher operating expenses and a significant increase in interest expense Net Loss (Three Months Ended June 30) | Metric | Q2 2025 (in thousands) | Q2 2024 (in thousands) | YoY Change (in thousands) | YoY Change (%) | | :------------------------ | :--------------------- | :--------------------- | :------------------------ | :------------- | | Net loss | $(70,871) | $(52,989) | $(17,882) | +33.7% | | Net loss per share (basic & diluted) | $(1.38) | $(1.05) | $(0.33) | +31.4% | - The increase in net loss was influenced by higher research and development expenses and a significant increase in interest expense[18](index=18&type=chunk)[20](index=20&type=chunk)[30](index=30&type=chunk) [Financial Guidance](index=4&type=section&id=FINANCIAL%20GUIDANCE) [Cash Runway Guidance](index=4&type=section&id=Cash%20Runway%20Guidance) REGENXBIO expects its balance of cash, cash equivalents, and marketable securities, totaling $363.6 million as of June 30, 2025, to fund its operations into early 2027, with this guidance based on current operational plans and excluding the impact of potential material payments from partners or licensees, as well as the potential monetization of a Priority Review Voucher (PRV) - Cash, cash equivalents, and marketable securities of **$363.6 million** as of **June 30, 2025**, are expected to fund operations into **early 2027**[21](index=21&type=chunk) - This cash runway guidance excludes the impact of any material payments from partners or licensees and potential monetization of a PRV[21](index=21&type=chunk) [Financial Statements](index=6&type=section&id=Financial%20Statements) [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, REGENXBIO's total assets increased to $581.0 million from $466.0 million at December 31, 2024, while total liabilities significantly increased to $367.3 million from $206.3 million, primarily driven by a substantial rise in royalty monetization liabilities and deferred revenue, consequently decreasing total stockholders' equity to $213.7 million from $259.7 million Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | December 31, 2024 | Change | | :------------------------- | :-------------- | :---------------- | :----- | | Total assets | $581,027 | $465,989 | +$115,038 | | Total liabilities | $367,348 | $206,338 | +$161,010 | | Total stockholders' equity | $213,679 | $259,651 | $(45,972) | - Royalty monetization liabilities increased significantly from **$25,378 thousand** at December 31, 2024, to **$153,693 thousand** at June 30, 2025[29](index=29&type=chunk) - Deferred revenue (non-current) increased from **$0** to **$23,804 thousand**[29](index=29&type=chunk) [Consolidated Statements of Operations and Comprehensive Loss](index=7&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For the six months ended June 30, 2025, total revenues significantly increased to $110.4 million from $37.9 million in the prior year period, primarily due to a substantial rise in license and royalty revenue, and despite an increase in total operating expenses, the loss from operations improved, leading to a net loss of $64.8 million, a reduction from the $116.3 million net loss in the same period of 2024, though interest expense also saw a notable increase Consolidated Statements of Operations Highlights (Six Months Ended June 30, in thousands) | Metric | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | YoY Change (in thousands) | YoY Change (%) | | :-------------------------------- | :--------------------------- | :--------------------------- | :------------------------ | :------------- | | Total revenues | $110,371 | $37,917 | $72,454 | +191.1% | | Total operating expenses | $161,522 | $157,817 | $3,705 | +2.3% | | Loss from operations | $(51,151) | $(119,900) | $68,749 | -57.3% | | Total other income (expense) | $(13,637) | $3,581 | $(17,218) | -480.8% | | Net loss | $(64,788) | $(116,319) | $51,531 | -44.3% | | Net loss per share (basic & diluted) | $(1.26) | $(2.41) | $(1.15) | -47.7% | - The substantial increase in total revenues for the six-month period was primarily driven by license and royalty revenue, which rose from **$37,190 thousand** to **$105,514 thousand**[30](index=30&type=chunk) - Interest expense significantly increased from **$2,422 thousand** in the first six months of 2024 to **$19,563 thousand** in the same period of 2025[30](index=30&type=chunk) [Additional Information](index=4&type=section&id=Additional%20Information) [Conference Call Details](index=4&type=section&id=CONFERENCE%20CALL) REGENXBIO hosted a conference call and webcast on August 7, 2025, at 8:00 a.m. ET to discuss the second quarter 2025 financial results and operational highlights, with details for webcast registration and dial-in for the Q&A session provided - REGENXBIO hosted a conference call and webcast at **8:00 a.m. ET** on **August 7, 2025**[5](index=5&type=chunk)[22](index=22&type=chunk) - Listeners could register for the webcast via a provided link, and analysts could access the live call by dialing specific numbers and entering a passcode[22](index=22&type=chunk) [Forward-Looking Statements](index=4&type=section&id=FORWARD-LOOKING%20STATEMENTS) This press release contains forward-looking statements regarding REGENXBIO's future operations, clinical trials, costs, and cash flow, based on current expectations and assumptions, which are subject to various risks and uncertainties, including the timing and success of clinical trials, regulatory approvals, and market acceptance, as detailed in the company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC - The press release includes forward-looking statements concerning REGENXBIO's future operations, clinical trials, costs, and cash flow[24](index=24&type=chunk)[25](index=25&type=chunk) - These statements are subject to a number of risks and uncertainties, including the timing of enrollment, commencement and completion and the success of clinical trials, regulatory approval, and market acceptance[25](index=25&type=chunk) - Readers are cautioned not to rely too heavily on these statements, and REGENXBIO does not undertake any obligation to update or revise them, except as required by law[25](index=25&type=chunk) [Contacts](index=5&type=section&id=CONTACTS) Contact information for REGENXBIO's Corporate Communications (Dana Cormack) and Investor Relations (George E. MacDougall) is provided for inquiries - Contact information for Corporate Communications (Dana Cormack) and Investor Relations (George E. MacDougall) is provided[27](index=27&type=chunk)
LENSAR(LNSR) - 2025 Q2 - Quarterly Results
2025-08-07 11:15
Exhibit 99.1 LENSAR Reports Second Quarter 2025 Results and Provides Business Update 18 ALLY Robotic Cataract Laser Systems™ ("ALLY Systems") placed in 2Q 2025 with an additional backlog of 18 ALLY Systems pending installation as of June 30, 2025 ALLY installed base grew 107% and total installed base grew 23% over 2Q 2024 Worldwide procedure volumes increased 23% over 2Q 2024 ORLANDO, Fla. (August 7, 2025) – LENSAR, Inc. (Nasdaq: LNSR) ("LENSAR" or the "Company), a global medical technology company focused ...
Amylyx(AMLX) - 2025 Q2 - Quarterly Report
2025-08-07 11:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended 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: 001-41199 Amylyx Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) ...
The Dixie Group(DXYN) - 2025 Q2 - Quarterly Results
2025-08-07 11:14
[The Dixie Group Q2 2025 Earnings Release](index=1&type=section&id=The%20Dixie%20Group%20Q2%202025%20Earnings%20Release) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) The company reported slightly lower sales but significantly improved operating and net income for Q2 2025, driven by better margins and cost controls Q2 2025 vs Q2 2024 Performance | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $68,573,000 | $70,507,000 | -2.7% | | Operating Income | $3,189,000 | $2,295,000 | +38.9% | | Net Income (Continuing Ops) | $1,254,000 | $667,000 | +88.0% | | Diluted EPS (Continuing Ops) | $0.08 | $0.04 | +100.0% | First Half 2025 vs First Half 2024 Performance | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $131,563,000 | $135,761,000 | -3.1% | | Operating Income | $3,200,000 | $1,437,000 | +122.7% | | Net Loss (Continuing Ops) | ($328,000) | ($1,743,000) | +81.2% improvement | | Diluted EPS (Continuing Ops) | ($0.02) | ($0.12) | +83.3% improvement | [Management Commentary and Business Operations](index=1&type=section&id=Management%20Commentary%20and%20Business%20Operations) Management attributes strong Q2 profitability to cost reductions, with soft surface sales outperforming the market despite challenges in hard surfaces [Overall Performance and Cost Management](index=1&type=section&id=Overall%20Performance%20and%20Cost%20Management) The company achieved a **$1.2 million net income** in Q2, driven by improved margins and a **$12.6 million** annual cost reduction plan - Achieved a net income of **$1.2 million** in the second quarter, despite lower year-over-year sales volume[4](index=4&type=chunk) - Operating margins improved to **29.2% of net sales** compared to 28.1% in the same quarter of the prior year[4](index=4&type=chunk) - A cost reduction plan is currently estimated to produce **$12.6 million in reduced spending** year over year, contributing to favorable results[4](index=4&type=chunk) [Segment Performance and Product Launches](index=1&type=section&id=Segment%20Performance%20and%20Product%20Launches) Soft surface sales outperformed the declining market, while hard surface growth in wood was offset by challenges in the TRUCOR® segment - Soft surface sales were relatively flat year-over-year, outperforming the broader industry which is believed to have **declined by 7%**[5](index=5&type=chunk) - Key growth drivers in soft surfaces included the **DuraSilk™ SD collection** and the high-end decorative segment[5](index=5&type=chunk) - The hard surface segment experienced **over 10% year-over-year growth** in net sales of Fabrica wood products, but the TRUCOR® segment faced challenges due to low inventory and supply chain issues[8](index=8&type=chunk) - The company launched **five new soft surface introductions** and **five new hard surface collections** during the second quarter to stimulate sales[6](index=6&type=chunk)[9](index=9&type=chunk) [Marketing and Outlook](index=2&type=section&id=Marketing%20and%20Outlook) The company is leveraging digital marketing and cost controls to navigate market headwinds while preparing for future demand - Continued digital marketing partnerships with Roomvo and Broadlume are showing promising results in lead generation, online sample ordering, and room visualizations[10](index=10&type=chunk) - Management acknowledges that the industry continues to be negatively impacted by **inflationary pressures, high interest rates, and low consumer confidence**[11](index=11&type=chunk) - The company believes it has taken appropriate actions through cost reductions and operational improvements to manage the current slowdown and optimize returns when market conditions improve[11](index=11&type=chunk) [Detailed Financial Analysis](index=2&type=section&id=Detailed%20Financial%20Analysis) Improved operating margins and lower expenses boosted profitability, while the balance sheet reflects stable inventory and adequate liquidity [Profitability Analysis](index=2&type=section&id=Profitability%20Analysis) Q2 operating margin improved to **29.2%** due to efficiencies and cost reductions, with selling and administrative expenses also declining Operating Margin Comparison | Period | 2025 | 2024 | | :--- | :--- | :--- | | Q2 | 29.2% | 28.1% | | H1 | 28.1% | 26.2% | Selling & Administrative Expenses | Period | 2025 | 2024 | | :--- | :--- | :--- | | Q2 | $16.8 million | $17.4 million | | H1 | $33.7 million | $33.7 million | [Balance Sheet, Cash Flow, and Liquidity](index=2&type=section&id=Balance%20Sheet%2C%20Cash%20Flow%2C%20and%20Liquidity) The balance sheet shows stable inventory and a slight debt increase, with **$13.1 million** available under the senior credit facility - Receivables increased by **$5.6 million** and inventory was slightly higher at **$67.4 million** compared to fiscal year-end 2024[13](index=13&type=chunk) - Debt increased by **$1.1 million** in the first six months of 2025, with interest expense rising to **$1.9 million** in Q2 from $1.6 million in Q2 2024 due to higher interest rates[13](index=13&type=chunk) - Availability under the senior lending facility was **$13.1 million** at the end of Q2 2025, subject to a $6.0 million minimum excess availability requirement[13](index=13&type=chunk) [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) This section presents the unaudited consolidated statements of operations and balance sheets for Q2 and H1 2025 [Consolidated Condensed Statements of Operations](index=3&type=section&id=Consolidated%20Condensed%20Statements%20of%20Operations) The statement details revenues, costs, and profits for Q2 and H1 2025, showing lower sales but higher quarterly operating income Q2 Statement of Operations Highlights (in thousands) | Account | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | NET SALES | $68,573 | $70,507 | | GROSS PROFIT | $20,016 | $19,813 | | OPERATING INCOME | $3,189 | $2,295 | | INCOME FROM CONTINUING OPERATIONS | $1,254 | $667 | | NET INCOME | $1,160 | $603 | H1 Statement of Operations Highlights (in thousands) | Account | H1 2025 | H1 2024 | | :--- | :--- | :--- | | NET SALES | $131,563 | $135,761 | | GROSS PROFIT | $36,918 | $35,622 | | OPERATING INCOME | $3,200 | $1,437 | | LOSS FROM CONTINUING OPERATIONS | ($328) | ($1,743) | | NET LOSS | ($537) | ($1,891) | [Consolidated Condensed Balance Sheets](index=4&type=section&id=Consolidated%20Condensed%20Balance%20Sheets) The balance sheet presents the company's financial position as of June 28, 2025, showing an increase in total assets and liabilities Balance Sheet Highlights (in thousands) | Account | June 28, 2025 | Dec 28, 2024 | | :--- | :--- | :--- | | **ASSETS** | | | | Cash and cash equivalents | $4,386 | $19 | | Inventories, net | $67,381 | $66,852 | | TOTAL CURRENT ASSETS | $106,623 | $95,839 | | TOTAL ASSETS | $188,383 | $175,872 | | **LIABILITIES & EQUITY** | | | | Accounts payable | $26,319 | $14,884 | | Current portion of long-term debt | $57,311 | $53,818 | | TOTAL CURRENT LIABILITIES | $104,282 | $88,719 | | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $188,383 | $175,872 |
Appian(APPN) - 2025 Q2 - Quarterly Results
2025-08-07 11:14
Exhibit 99.1 Appian Announces Second Quarter 2025 Financial Results Second quarter cloud subscriptions revenue increased 21% year-over-year to $106.9 million Second quarter total revenue increased 17% year-over-year to $170.6 million McLean, VA – August 7, 2025 – Appian (Nasdaq: APPN) today announced financial results for the second quarter ended June 30, 2025. "Appian AI drove strong financial results in the second quarter of 2025, with higher prices and a larger pipeline," said Matt Calkins, CEO & Founder ...
C4 Therapeutics(CCCC) - 2025 Q2 - Quarterly Report
2025-08-07 11:11
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________________ FORM 10-Q ________________________________________________ (Mark One) x 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 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Co ...
Ironwood(IRWD) - 2025 Q2 - Quarterly Results
2025-08-07 11:11
Exhibit 99.1 FOR IMMEDIATE RELEASE Ironwood Pharmaceuticals Reports Second Quarter 2025 Results; Maintains Full Year 2025 Financial Guidance – LINZESS (Iinaclotide) U.S. net sales of $248 million in Q2 2025; EUTRx demand growth of 10% year-over-year – – Plans to align with FDA on confirmatory Phase 3 trial design in Q4 2025 – – Progressing previously announced strategic alternatives review to maximize shareholder value – BOSTON, Mass., August 7, 2025 — Ironwood Pharmaceuticals, Inc. (Nasdaq: IRWD), a biotec ...
VEON .(VEON) - 2025 Q2 - Quarterly Report
2025-08-07 11:11
E a rn i n g s R e l e a s e 2 Q 2 5 1 I D I R E C T D I G I TA L R E V E N U E S U P 5 7 % Y O Y. S O L I D E X E C U T I O N, S T R O N G R E S U LT S S E C O N D Q U A RT E R 2 0 2 5 E A RN I N G S R E L E A S E Q25 HIGHLIGHTS | USD | TOTAL REVENUE | USD | TELECOM AND INFRA | | --- | --- | --- | --- | | 1.087 | +5.9% YoY | 907 | REVENUE | | million | +11.2% YoY in local currency | million | -0.5% YoY | | | | | +4.8% YoY in local currency | | USD | DIRECT DIGITAL REVENUE | USD | EBITDA | | 180 | +56.6% Yo ...
Spectrum Brands(SPB) - 2025 Q3 - Quarterly Results
2025-08-07 11:11
[Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) Q3 FY2025 net sales declined 10.2% due to tariffs and soft demand, with increased net income and reaffirmed free cash flow - The company's Q3 results were significantly impacted by a **145% tariff** on Chinese imports, which led to a temporary halt in purchases from China and stop shipments to retailers during price negotiations[3](index=3&type=chunk) - Management has taken corrective actions, including diversifying the supply base, implementing initial pricing adjustments to counter tariffs, and achieving over **$50 million** in cost reductions in fiscal 2025[3](index=3&type=chunk)[5](index=5&type=chunk) Q3 FY2025 Key Performance Indicators (in millions) | Metric | Value | Change (YoY) | | :--- | :--- | :--- | | Net Sales | $699.6 | -10.2% | | Organic Net Sales | - | -11.1% | | Net Income from Continuing Operations | $20.5 | +$1.4 | | Adjusted EBITDA | $76.6 | -$29.7 | | Free Cash Flow Guidance (FY25) | ~$160 | Reaffirmed | | Shares Repurchased (Q3) | 0.9M shares ($54.4) | - | - The company repurchased **17.1 million** shares for **$1.3 billion** since the HHI divestiture, reducing shares outstanding to **24.2 million**[4](index=4&type=chunk) [Consolidated Financial Performance](index=2&type=section&id=Consolidated%20Financial%20Performance) Q3 FY2025 consolidated net sales declined 10.2% and Adjusted EBITDA fell 27.9%, with net income from continuing operations increasing Q3 FY2025 Consolidated Financial Results (vs. Q3 FY2024) (in millions) | Metric | Q3 FY2025 | Q3 FY2024 | Change | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $699.6 | $779.4 | ($79.8) | (10.2)% | | Gross Profit | $264.1 | $302.8 | ($38.7) | (12.8)% | | Gross Margin | 37.8% | 38.9% | (110) bps | - | | Operating Income | $31.3 | $47.7 | ($16.4) | (34.4)% | | Net Income (Continuing Ops) | $20.5 | $19.1 | $1.4 | 7.3% | | Adjusted EBITDA | $76.6 | $106.3 | ($29.7) | (27.9)% | | Adjusted EBITDA Margin | 10.9% | 13.6% | (270) bps | - | | Adjusted EPS (Continuing Ops) | $1.24 | $1.13 | $0.11 | 9.7% | - The net sales decline was primarily attributed to stop shipments during price negotiations, tariff-related supply constraints, and category softness in Global Pet Care and Home & Personal Care[7](index=7&type=chunk) - Adjusted diluted EPS increased to **$1.24**, driven by lower income tax, reduced interest expense, and a reduction in outstanding shares, which offset the impact of lower adjusted EBITDA[12](index=12&type=chunk) [Segment Performance](index=3&type=section&id=Segment%20Performance) All three segments saw Q3 FY2025 net sales decline, with GPC and HPC impacted by supply issues and H&G by weather [Global Pet Care (GPC)](index=3&type=section&id=Global%20Pet%20Care%20%28GPC%29) GPC Q3 FY2025 Performance (vs. Q3 FY2024) (in millions) | Metric | Q3 FY2025 | Q3 FY2024 | Change (%) | | :--- | :--- | :--- | :--- | | Net Sales | $255.2 | $282.2 | (9.6)% | | Organic Net Sales | - | - | (11.4)% | | Adjusted EBITDA | $44.0 | $56.7 | (22.4)% | | Adjusted EBITDA Margin | 17.2% | 20.1% | (290) bps | - The sales decline was driven by low double-digit drops in both Companion Animal and Aquatics categories. North American sales were hurt by stop shipments, supply constraints from pausing Chinese purchases, and overall category weakness[8](index=8&type=chunk) [Home & Garden (H&G)](index=3&type=section&id=Home%20%26%20Garden%20%28H%26G%29) H&G Q3 FY2025 Performance (vs. Q3 FY2024) (in millions) | Metric | Q3 FY2025 | Q3 FY2024 | Change (%) | | :--- | :--- | :--- | :--- | | Net Sales | $189.2 | $211.0 | (10.3)% | | Adjusted EBITDA | $38.6 | $43.3 | (10.9)% | | Adjusted EBITDA Margin | 20.4% | 20.5% | (10) bps | - The 10.3% net sales decrease was primarily caused by unfavorable seasonal weather compared to the prior year, which delayed replenishment orders[10](index=10&type=chunk) [Home & Personal Care (HPC)](index=4&type=section&id=Home%20%26%20Personal%20Care%20%28HPC%29) HPC Q3 FY2025 Performance (vs. Q3 FY2024) (in millions) | Metric | Q3 FY2025 | Q3 FY2024 | Change (%) | | :--- | :--- | :--- | :--- | | Net Sales | $255.2 | $286.2 | (10.8)% | | Organic Net Sales | - | - | (11.4)% | | Adjusted EBITDA | $7.0 | $11.8 | (40.7)% | | Adjusted EBITDA Margin | 2.7% | 4.1% | (140) bps | - Sales were negatively impacted by weak consumer sentiment in the US and EMEA, stop shipments during tariff negotiations, and supply constraints. However, LATAM organic net sales grew by low double-digits[13](index=13&type=chunk) [Financial Position and Outlook](index=4&type=section&id=Liquidity%20and%20Debt) Spectrum Brands maintained $510.5 million liquidity and $559.1 million net debt, reaffirmed FY2025 free cash flow, but suspended earnings framework Liquidity and Debt Position (as of June 29, 2025) | Item | Amount (in millions) | | :--- | :--- | | Cash Balance | $122.0 | | Revolver Capacity (undrawn) | $388.5 | | **Total Liquidity** | **$510.5** | | Total Debt Outstanding | $681.1 | | **Net Debt** | **$559.1** | - The company reaffirmed its expectation to generate approximately **$160 million** of free cash flow in Fiscal 2025[16](index=16&type=chunk) - Due to uncertainty from global trade conditions, tariffs, and soft consumer demand, the company is not providing a Fiscal 2025 earnings framework[16](index=16&type=chunk) - The company continues to target a long-term net leverage ratio of **2.0 - 2.5 times**[16](index=16&type=chunk) [Financial Statements](index=11&type=section&id=Financial%20Statements) Unaudited financial statements show lower Q3 revenue and operating income but higher net income from continuing operations, with reduced cash from operations and lower total assets [Condensed Consolidated Statements of Income](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Income Statement Summary - Three Months Ended | (in millions) | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Net sales | $699.6 | $779.4 | | Gross profit | $264.1 | $302.8 | | Operating income | $31.3 | $47.7 | | Net income from continuing operations | $20.5 | $19.1 | | Net income | $19.7 | $6.0 | [Condensed Consolidated Statements of Cash Flow](index=12&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flow) Cash Flow Summary - Nine Months Ended | (in millions) | June 29, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $32.5 | $81.9 | | Net cash (used) provided by investing activities | ($25.2) | $885.0 | | Net cash used by financing activities | ($245.0) | ($1,563.9) | | Net change in cash | ($245.0) | ($596.2) | [Condensed Consolidated Statements of Financial Position](index=13&type=section&id=Condensed%20Consolidated%20Statements%20of%20Financial%20Position) Balance Sheet Summary | (in millions) | June 29, 2025 | Sept 30, 2024 | | :--- | :--- | :--- | | Total current assets | $1,338.9 | $1,578.6 | | Total assets | $3,542.3 | $3,842.3 | | Total current liabilities | $553.1 | $687.1 | | Total liabilities | $1,648.5 | $1,700.6 | | Total equity | $1,893.8 | $2,141.7 | [Supplemental Information (Non-GAAP Reconciliations)](index=14&type=section&id=Supplemental%20Information%20%28Non-GAAP%20Reconciliations%29) This section provides GAAP to non-GAAP reconciliations for organic net sales, Adjusted EBITDA, Adjusted Diluted EPS, and Adjusted Free Cash Flow, enhancing insight into core operational performance [Net Sales and Organic Net Sales](index=14&type=section&id=Net%20Sales%20and%20Organic%20Net%20Sales) Q3 FY2025 Net Sales to Organic Net Sales Reconciliation | (in millions) | Net Sales | FX Effect | Organic Net Sales | YoY Organic Change | | :--- | :--- | :--- | :--- | :--- | | GPC | $255.2 | ($5.3) | $249.9 | (11.4)% | | H&G | $189.2 | $0.1 | $189.3 | (10.3)% | | HPC | $255.2 | ($1.6) | $253.6 | (11.4)% | | **Total** | **$699.6** | **($6.8)** | **$692.8** | **(11.1)%** | [Adjusted EBITDA and Adjusted EBITDA Margin](index=15&type=section&id=Adjusted%20EBITDA%20and%20Adjusted%20EBITDA%20Margin) Q3 FY2025 Net Income to Adjusted EBITDA Reconciliation | (in millions) | Q3 FY2025 | Q3 FY2024 | | :--- | :--- | :--- | | Net income from continuing operations | $20.5 | $19.1 | | Adjustments (Taxes, Interest, D&A, etc.) | $49.8 | $67.8 | | Other Adjustments (Impairment, Restructuring, etc.) | $6.3 | $19.4 | | **Adjusted EBITDA** | **$76.6** | **$106.3** | [Adjusted Diluted EPS](index=16&type=section&id=Adjusted%20Diluted%20EPS) Q3 FY2025 Diluted EPS to Adjusted Diluted EPS Reconciliation | (per share amounts) | Q3 FY2025 | Q3 FY2024 | | :--- | :--- | :--- | | Diluted EPS from continuing operations | $0.83 | $0.66 | | Pre-tax adjustments | $0.65 | $0.68 | | Tax impact of adjustments | ($0.24) | ($0.21) | | **Adjusted Diluted EPS** | **$1.24** | **$1.13** | [Adjusted Free Cash Flow](index=17&type=section&id=Adjusted%20Free%20Cash%20Flow) YTD FY2025 Operating Cash Flow to Adjusted Free Cash Flow | (in millions) | Nine Months Ended June 29, 2025 | | :--- | :--- | | Net cash provided by operating activities | $33.1 | | Purchases of property, plant and equipment | ($25.1) | | **Free cash flow** | **$8.0** | | Adjustments (Deal costs, etc.) | $4.6 | | **Adjusted free cash flow** | **$12.6** | [Forward-Looking Statements](index=8&type=section&id=Forward-Looking%20Statements) This section details forward-looking statements and risks, including geopolitical and economic conditions, supplier reliance, tariffs, consumer spending, and supply chain complexities - The report identifies significant risks that could impact future performance, including[29](index=29&type=chunk)[30](index=30&type=chunk)[31](index=31&type=chunk) - Economic, social, and political conditions, including the Russia-Ukraine and Israel-Hamas wars - Reliance on third-party suppliers and distributors, especially with government intervention in China - The impact of tariffs, trade policies, inflation, and potential recession on the business - Fluctuations in transportation, fuel, and commodity costs - Loss of or reduced sales to any significant retail customer[29](index=29&type=chunk)[30](index=30&type=chunk)
IBP(IBP) - 2025 Q2 - Quarterly Results
2025-08-07 11:11
INSTALLED BUILDING PRODUCTS REPORTS RECORD SECOND QUARTER 2025 RESULTS; DECLARES REGULAR QUARTERLY CASH DIVIDEND Columbus, Ohio, August 7, 2025, Installed Building Products, Inc. (the "Company" or "IBP") (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced results for the second quarter ended June 30, 2025. Second Quarter 2025 Highlights (Comparisons are to Prior Year Period) Recent Developments • IBP's Board of Directors declared the third quarter re ...