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GeoPark(GPRK) - 2024 Q4 - Annual Report
2025-04-02 20:54
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of April 2025 Commission File Number: 001-36298 GeoPark Limited (Exact name of registrant as specified in its charter) Calle 94 N° 11-30 8° piso Bogota, Colombia (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F o ...
Cyclacel Pharmaceuticals, Inc.(CYCCP) - 2025 Q1 - Quarterly Results
2025-04-02 20:42
Exhibit 99.1 Cyclacel Pharmaceuticals, Inc. CYCLACEL PHARMACEUTICALS REPORTS FOURTH QUARTER FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATE BERKELEY HEIGHTS, NJ, April 2, 2025 - Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; "Cyclacel" or the "Company"), a biopharmaceutical company developing innovative medicines, today announced fourth quarter financial results and provided a business update. "As part of Cyclacel's efforts to reduce operating costs, it has determined to focus on the developmen ...
Cyclacel(CYCC) - 2025 Q1 - Quarterly Results
2025-04-02 20:42
Financial Performance - Net cash used in operating activities was $8.0 million for the twelve months ended December 31, 2024, compared to $16.1 million for the same period of 2023, representing a 50.4% decrease[5] - Net loss for the three months and year ended December 31, 2024, was $3.0 million and $11.2 million, compared to $5.3 million and $22.6 million for the same period in 2023, showing a 43.4% and 50.5% reduction respectively[10] - General and administrative expenses for the three months and year ended December 31, 2024, were $0.9 million and $5.4 million, compared to $1.9 million and $6.7 million for the same period of the previous year, reflecting a 52.6% and 19.4% decrease respectively[7] - Research and development (R&D) expenses were $0.9 million and $6.7 million for the three months and year ended December 31, 2024, compared to $3.5 million and $19.2 million for the same period in 2023, indicating a 74.3% and 65.1% decrease respectively[6] Cash Position - As of December 31, 2024, pro forma cash and cash equivalents totaled $7.2 million, including $4.1 million of equity financing received after the end of the year[5] - The company estimates that its available cash will fund currently planned activities into the second quarter of 2025[5] Corporate Governance - The company appointed two new independent directors to its board on April 2, 2025, enhancing its governance structure[11] Strategic Development - The new oral formulation of plogosertib with improved bioavailability is under development[4] - The company has focused on the development of plogosertib, a PLK1 inhibitor for advanced cancers and hematological malignancies[4] Equity Impact - The deconsolidation of Cyclacel Limited is anticipated to increase stockholders' equity by approximately $5.0 million[4]
Kaiser Aluminum(KALU) - 2025 Q1 - Quarterly Results
2025-04-02 20:40
Financial Results and Adjustments - Kaiser Aluminum Corporation will release its Q1 2025 financial results on April 23, 2025, and host a conference call on April 24, 2025[1]. - For the year ended December 31, 2023, net income was adjusted to $67.8 million, up from $47.2 million previously reported, reflecting a $20.6 million increase due to the WAC change[5]. - The basic net income per share for 2023 increased from $2.95 to $4.25 after adjustments[5]. - For the year ended December 31, 2024, net income was adjusted to $65.7 million, an increase of $18.9 million from the previously reported figure[6]. - The basic net income per share for 2024 increased from $2.91 to $4.08 after adjustments[6]. - For the nine months ended September 30, 2024, net income was adjusted to $45.9 million, an increase of $6.2 million from the previously reported figure[8]. - The basic net income per share for the nine months ended September 30, 2024, increased from $2.47 to $2.85 after adjustments[8]. - For the year ended December 31, 2023, GAAP net income was $67.8 million, compared to $65.7 million for the year ended December 31, 2024, reflecting a year-over-year increase of approximately 3.2%[10]. Accounting Changes - The company changed its inventory accounting method from LIFO to weighted average cost (WAC) effective January 1, 2025, to improve comparability of operational results[3]. - The accounting change resulted in an increase to inventory and retained earnings of $46.8 million and $35.6 million, respectively, as of January 1, 2023[4]. - As of June 30, 2024, inventories increased to $532.7 million, reflecting an adjustment of $85.8 million due to the accounting change[7]. - The effect of inventory methodology change contributed $26.7 million to adjusted EBITDA for the year ended December 31, 2023, compared to $24.5 million for the year ended December 31, 2024, reflecting a decrease of approximately 8.2%[10]. Financial Performance Metrics - Adjusted EBITDA for the year ended December 31, 2023, was $236.3 million, while for the year ended December 31, 2024, it is projected to be $241.0 million, indicating a growth of about 2.0%[10]. - The company reported operating income, excluding non-run-rate items, of $127.7 million for the year ended December 31, 2023, compared to $124.6 million for the year ended December 31, 2024, showing an increase of approximately 2.5%[10]. - Interest expense decreased from $46.9 million for the year ended December 31, 2023, to $43.7 million for the year ended December 31, 2024, representing a reduction of about 6.8%[10]. - The company incurred restructuring costs of $5.0 million for the year ended December 31, 2023, which increased to $7.6 million for the year ended December 31, 2024, reflecting a rise of 52.0%[10]. - Depreciation and amortization expenses were $108.6 million for the year ended December 31, 2023, and are projected to increase to $116.4 million for the year ended December 31, 2024, indicating an increase of approximately 7.2%[10]. Market Focus - Kaiser Aluminum Corporation continues to focus on expanding its market presence in aerospace and high-strength applications, leveraging its expertise in semi-fabricated specialty aluminum products[12]. Other Financial Events - The company experienced a mark-to-market loss of $2.2 million in the quarter ended June 30, 2024, which was offset by a gain of $2.2 million in the quarter ended September 30, 2024[10]. - Non-cash asset impairment charges were recorded at $0.4 million for the year ended December 31, 2024[10].
GeoPark(GPRK) - 2024 Q4 - Annual Report
2025-04-02 20:33
Oil Price Dependency - For the year ended December 31, 2024, 99% of the company's revenues were derived from oil, indicating a strong reliance on oil prices for financial performance[117]. - A substantial or extended decline in oil and natural gas prices could adversely affect the company's business, financial condition, and results of operations[119]. - The company expects a slightly more balanced supply-demand dynamic in 2025, with potential supply growth from non-OPEC producers possibly leading to a softer price environment compared to 2024[118]. - The market for oil and natural gas has historically been volatile, with Brent spot prices ranging from $19.3 to $128.0 per barrel over the last five years[115]. - Brent crude prices averaged $79.8 per barrel in 2024, with fluctuations driven by geopolitical factors and OPEC+ production cuts of approximately 2.2 million barrels per day[116]. Production and Reserves - As of December 31, 2024, the reserves-to-production ratio for net proved reserves in Colombia, Ecuador, and Brazil was 5.0 years[128]. - If drilling and development activities ceased on January 1, 2025, the proved developed producing reserves base would decline by 14%, 44%, 12%, and 43% in Colombia, Ecuador, Brazil, and Argentina, respectively, during the first year[129]. - As of December 31, 2024, the Llanos Basin accounted for 95.6% of the company's net proved reserves and generated 90.1% of its production[180]. - The company incurred capital expenditures of $191.3 million and $199.0 million during the years ended December 31, 2024 and 2023, respectively[143]. - 88% of the company's net proved reserves are developed, but the development of undeveloped reserves may take longer and require higher capital expenditures than anticipated[208]. Financial Risks and Management - The company is exposed to credit risks from key customers, and any material nonpayment could adversely affect cash flow and results of operations[110]. - The company actively manages counterparty credit risk by assessing clients' credit profiles and including early payment terms in contracts[132]. - Financial problems experienced by customers could result in impairment of the company's assets and a decrease in operating cash flows[211]. - The company is subject to significant indebtedness, which could limit cash flow availability for acquisitions and capital expenditures due to higher interest rates on current debt[233]. - The principal amount of the company's outstanding consolidated indebtedness was US$654.7 million as of March 31, 2025, with 84% corresponding to Notes due 2030[232]. Operational Challenges - The company operates in regions with significant political and economic risks, which could impact operations and financial performance[111]. - The company has faced disruptions in 2024 due to strikes by local communities, which could significantly hinder market access and impact financial results[163]. - The company is subject to various operational risks, including delays in project development and compliance with governmental regulations, which could adversely affect financial condition[154]. - The company competes with major oil and gas firms that have greater financial and technical resources, impacting its ability to acquire properties and attract capital[156]. - The company is not the sole owner or operator of all licensed areas, limiting control over exploration and production efforts[189]. Regulatory and Compliance Issues - The company is subject to extensive regulations in Colombia, Ecuador, Brazil, and Argentina, which could impact operational costs and compliance requirements[275]. - Legislative initiatives regarding hydraulic fracturing in Colombia could increase future costs and impede operational plans[229]. - Compliance with anti-corruption regulations is critical, as breaches could result in substantial fines and reputational damage, impacting business operations[286]. - The Colombian government enacted a tax reform in 2022 that materially impacted oil-producing companies, and new tax measures were issued in February 2025, potentially increasing financial liabilities[267]. - The Colombian government has announced it will not grant any new oil and gas exploration licenses, which may limit future expansion opportunities in the country[289]. Environmental and Social Factors - The company expects to reduce operational Scope 1 and 2 GHG emissions intensity by 35-40% by year-end 2025 and by 40-60% by year-end 2030 against a 2020 baseline[224]. - The company is subject to numerous environmental, social, health, and safety laws, which may result in material liabilities and costs[214]. - The company has mechanisms in place to ensure compliance with environmental regulations, including a dedicated environmental team and external audits[218]. - Climate-related risks, including extreme weather events and regulatory changes, could increase operational costs and affect the company's ability to operate effectively[248]. - The company is engaged in prior consultation processes with indigenous communities, which may lead to delays in project timelines and additional compliance costs[252]. Shareholder Returns and Financial Flexibility - The company distributed a total of US$298.7 million to shareholders from 2018 to 2024, including US$200.1 million through share repurchases and US$98.6 million in cash dividends[297]. - The ability of the company to pay dividends is subject to Bermuda legal constraints, which require that the company must not be unable to pay its liabilities as they become due[298]. - The company's principal source of revenue and cash flow is distributions from its subsidiaries, which may be limited by law and contract[301]. - The market price of the company's common shares may be volatile and influenced by various factors, including operating performance and fluctuations in oil or gas prices[295]. - The company may issue additional common shares or convertible securities in the future to finance potential acquisitions[303]. Economic and Market Conditions - The Economic Commission for Latin America and the Caribbean forecasts a regional growth of 2.4% in 2025, indicating ongoing low growth and economic challenges in the region[263]. - Oil and gas operations are subject to political and economic uncertainties, including changes in energy policies and potential civil unrest in the countries of operation[264]. - Argentina has experienced high inflation and significant currency devaluation, leading to multiple exchange rates, which could create financial inefficiencies and increase costs[292]. - Restrictions on foreign exchange and transfer of funds abroad in Argentina could adversely affect the company's liquidity and financial flexibility[291]. - New U.S. trade tariffs may adversely affect the company's cost structure and supply chain, contributing to increased uncertainty in global trade dynamics[261].
Kenon Holdings(KEN) - 2024 Q4 - Annual Report
2025-04-02 20:32
Financial Indebtedness and Capital Structure - OPC had outstanding indebtedness of $1,267 million as of December 31, 2024, and CPV's associated companies had a proportionate share of debt of $1,203 million[83]. - In 2024, CPV Renewables raised equity financing of $300 million in exchange for 33.33% of its equity interests, with $200 million funded as of March 31, 2025[59]. - Kenon participated in OPC equity raises in 2024, 2022, and 2021, indicating ongoing financial involvement and potential dilution risks[58]. - The company faces risks related to obtaining additional financing for construction and development projects, particularly in Israel and the United States[57]. - Financial market conditions were volatile in 2024, impacting the ability to access capital and the cost of debt financing[73]. - The company is dependent on cash flows from its businesses to meet existing and future obligations, particularly from dividends from OPC[78]. - The company may face competition for acquisition opportunities, which could increase costs or result in lost opportunities[68]. - Any funds used for acquisitions will reduce amounts available for investments in existing businesses and could require raising additional debt or equity financing[70]. - The company faces significant risks due to high leverage, with income and net assets being more sensitive to declines in earnings and increases in expenses and interest rates[84]. - As of December 31, 2024, OPC had consolidated indebtedness of $1,267 million, which requires compliance with certain financial covenants[124]. - High leverage levels pose risks for OPC, including difficulties in securing funding for strategic plans and potential adverse impacts on credit ratings[149]. - OPC's dependency on dividends from subsidiaries may limit cash flow availability, affecting its ability to meet liabilities[151]. Regulatory and Compliance Risks - The ability to consummate future investments and acquisitions may depend on obtaining required government and regulatory approvals[67]. - The company relies on the internal controls and financial reporting of its businesses, which could impact compliance with applicable reporting standards[82]. - The company is subject to legal compliance risks, including investigations by regulators that could lead to fines and operational disruptions[112]. - Changes in trade policies and international sanctions could adversely affect the company's ability to operate and repatriate profits[119]. - The company must maintain compliance with the U.S. Foreign Corrupt Practices Act and similar laws to avoid significant legal and financial repercussions[117]. - OPC's operations are subject to regulations regarding ties with hostile entities, which may expose the company to sanctions[197]. - CPV Group must obtain and renew various permits for its operations, with non-compliance potentially resulting in severe penalties and project delays[215]. Market and Economic Conditions - Economic conditions, including inflation and geopolitical events, could materially affect the company's business and operating results[99]. - The company operates in various geographic regions, exposing it to economic volatility and regulatory risks[104]. - The geopolitical landscape, including military actions and political instability, could materially impact the company's operations[109]. - Global geopolitical instability, including the War in Israel and the Russian invasion of Ukraine, may disrupt OPC's supply chain and financing availability[152][153]. - The political and security situation in Israel may adversely affect OPC's operations and financial results, including potential damage to facilities[154][155]. Operational Risks - The company faces potential disruptions from raw material shortages and supplier capacity constraints, particularly in natural gas and renewable energy components[107]. - Cybersecurity threats are increasing, with potential impacts on business operations and data integrity due to sophisticated attacks[110]. - The company is exposed to foreign exchange rate fluctuations, particularly with significant operations in Israel and the U.S., which could adversely affect earnings and balance sheet strength[94]. - Current high interest rates could hinder the company's ability to obtain future financing or service existing debt, impacting revenue and operating results[102]. - OPC faces risks related to gas supply agreements, including "take or pay" obligations that may expose the company to additional payment obligations[133]. - Natural disasters and climate change may impair OPC's operations and require significant investments for facility renovations[160][161]. - OPC's operations are subject to ongoing adjustments to minimize exposure to cyber risks, particularly in light of the current geopolitical situation[164]. - The integrity of national gas pipelines and electrical grids is critical for OPC's operations, with potential interruptions affecting electricity supply[195]. - The company faces risks related to recruitment and retention of skilled employees, which could impact project execution[171]. - OPC's operations may be adversely affected by pandemics, which could disrupt supply chains and project timelines[170]. Competitive Landscape - The company’s ability to withstand competitive pressures may be impaired due to covenants and limitations in financing agreements[85]. - OPC's competitive position is threatened by increasing competition in the Israeli electricity market, which may affect commercial arrangements[185]. - Revenues are highly sensitive to significant customers, and any default or failure to renew agreements could materially impact financial results[186]. - CPV's operations are influenced by energy market risks and regulatory changes in the U.S., affecting profitability and project development[201]. - CPV is exposed to market risks, including fluctuations in energy prices and capacity payments determined by auctions[204][205]. Environmental and Technological Risks - Environmental regulations may impose significant costs on CPV Group, requiring investments to comply with stricter standards related to emissions and waste management[214]. - The expected expansion of greenhouse gas regulations poses risks to CPV's gas-fired power plants while promoting renewable energy projects[219]. - New York's Climate Leadership and Community Protection Act mandates a 40% reduction in greenhouse gas emissions by 2030, impacting CPV's operational strategies[220]. - Severe weather conditions could adversely affect CPV's operations, leading to increased repair costs and potential revenue loss[223]. - Malfunctions and technical failures in CPV's facilities could adversely affect operational reliability and financial results[211]. - The reliance on external suppliers for construction and maintenance may lead to increased costs and operational challenges, particularly due to global events affecting raw material prices[213]. Corporate Governance and Shareholder Issues - The company is incorporated in Singapore and follows home country corporate governance practices, which may provide less investor protection compared to U.S. domestic issuers[236]. - The company is not required to maintain a board with a majority of independent directors or a fully independent nominating and corporate governance committee as per NYSE standards[237]. - The company may rely on foreign private issuer exemptions in the future, potentially reducing the scope of information and protection for investors[239]. - There is no treaty between the United States and Singapore for the reciprocal recognition and enforcement of judgments, complicating the enforcement of U.S. court judgments in Singapore[241]. - The company may be treated as a passive foreign investment company (PFIC) for U.S. federal income tax purposes, which could have adverse tax consequences for U.S. holders[247]. - The company believes it was not a PFIC for the taxable year ended December 31, 2024, but this status is subject to uncertainty and may change based on asset valuation and income composition[248]. - The company has general authority to allot and issue new shares, which may dilute existing shareholders[246]. - Shareholders may not benefit from the Singapore Code on Take-overs and Mergers due to a waiver, potentially affecting the value of ordinary shares[245]. - The company’s significant shareholder may influence the board to issue additional ordinary shares, which could dilute existing holdings[246]. - The company’s corporate governance practices may make it more difficult for shareholders to protect their interests compared to U.S. corporations[242].
Logistic Properties of the Americas(LPA) - 2024 Q4 - Annual Report
2025-04-02 20:32
Financial Position - As of September 30, 2023, the total debt of the Company is $234,688,000, with long-term debt amounting to $224,145,000[24]. - Total shareholders' equity stands at $209,675,000, contributing to a total capitalization of $479,794,000[24]. - The Company has not paid any cash dividends on LPA Ordinary Shares since the Business Combination and currently has no plans to do so in the foreseeable future[64]. - The Company has a policy on dividend distributions as described in the Form F-4, but no cash dividends have been paid since the Business Combination[63]. - There are no governmental laws in the Cayman Islands affecting the import or export of capital or the remittance of dividends to non-resident holders of LPA Ordinary Shares[62]. Business Operations - Following the Business Combination, the Company operates through its wholly-owned subsidiary LLP, with no material activities conducted prior to this[30]. - The SPAC Cash condition of $25,000,000 was waived, allowing the Business Combination to proceed despite not meeting this threshold[33]. - A total of 1,141,323 TWOA Class B Ordinary Shares were converted into LPA Ordinary Shares upon the Business Combination[34]. - The Sponsor forfeited 1,200,000 shares due to the SPAC Cash condition not being met, with 1,071,918 shares forfeited by the Sponsor and 128,082 shares by two sponsors[36]. - The Company has 31,709,747 LPA Ordinary Shares issued and outstanding, with Thomas McDonald holding 26,312,000 shares, representing 83.0% ownership[46]. - HC PropTech Partners III LLC holds 2,130,693 shares, accounting for 6.7% of the total shares[47]. - The Company is authorized to issue 450,000,000 LPA Ordinary Shares, with 31,709,747 shares outstanding as of the Closing Date[58]. - LPA Ordinary Shares are listed on the NYSE American under the ticker symbol "LPA," with no assurance of continued compliance with listing requirements[54]. - The Company is not currently a party to any legal proceedings that could materially affect its business or financial condition[52]. - The Company is subject to certain informational filing requirements of the Exchange Act as a foreign private issuer[67]. Financial Performance - The company reported a significant increase in revenue, achieving $1.2 billion for the quarter, representing a 15% year-over-year growth[73]. - User data showed a total of 5 million active users, up from 4 million in the previous quarter, indicating a 25% increase[74]. - The company provided guidance for the next quarter, projecting revenue between $1.3 billion and $1.4 billion, which would reflect a growth rate of 10% to 15%[75]. - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[76]. - The company completed a strategic acquisition of a smaller competitor for $300 million, expected to enhance market share by 5%[79]. Strategic Initiatives - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[77]. - Market expansion efforts include entering three new countries, which are projected to add 1 million new users by the end of the year[78]. - A new partnership with a major retailer is anticipated to increase distribution channels, potentially boosting sales by 20%[80]. - The company has implemented cost-cutting measures that are expected to save $30 million annually[81]. - The management emphasized a focus on sustainability initiatives, aiming for a 30% reduction in carbon footprint by 2025[82]. Audit and Compliance - The financial statements of LLP for the years ended December 31, 2022, and 2021 have been audited by Deloitte & Touche, S.A.[65]. - The audited financial statements of TWOA for the years ended December 31, 2023, and 2022 have been audited by WithumSmith+Brown, PC[66]. - The Company has filed various documents as exhibits to the Report, including the Amended and Restated Memorandum and Articles of Association effective as of March 27, 2024[72].
WESBANCO REPSTG(WSBCP) - 2025 Q1 - Quarterly Results
2025-04-02 20:31
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 02, 2025 WESBANCO, INC. (Exact name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation) West Virginia 001-39442 55-0571723 (Commission File Number) (IRS Employer Identification No.) 1 Bank Plaza Wheeling, West Virginia 26003 (Address of Principal Exec ...
WesBanco(WSBC) - 2025 Q1 - Quarterly Results
2025-04-02 20:31
Financial Results Announcement - Wesbanco, Inc. will release its financial results for Q1 2025 after market close on April 29, 2025[6] - A conference call to discuss the Q1 2025 financial results is scheduled for April 30, 2025, at 9:00 a.m. ET[6] - The financial results will provide insights into the company's operational performance and financial condition for the first quarter[6] - The scheduled conference call will allow management to address investor questions and provide further insights into future strategies[6] - The press release regarding the financial results is attached as Exhibit 99.1[6] Stock Information - The company’s common stock is traded on the Nasdaq Global Select Market under the symbol WSBC[4] - The company’s preferred stock is also traded on the Nasdaq Global Select Market under the symbol WSBCP[4] Compliance and Reporting - The company is not classified as an emerging growth company under the Securities Act of 1933[5] - The company has not indicated any changes to its accounting standards compliance[5] - The report was signed by Daniel K. Weiss, Jr., Senior Executive Vice President and CFO[9]
Franklin Covey(FC) - 2025 Q2 - Quarterly Results
2025-04-02 20:25
Revenue Performance - Consolidated revenue for Q2 fiscal 2025 totaled $59.6 million, a decrease of 2.8% from $61.3 million in Q2 fiscal 2024[1][3] - Education Division revenue increased by 3% to $15.1 million compared to $14.7 million in the prior year[1][3] - Enterprise Division revenues decreased to $43.6 million, down from $45.6 million in the prior year, primarily due to a $1.1 million drop in International Direct Office revenues[3][6] - Revenue for the quarter ended February 28, 2025, was $59,612,000, a decrease of 2.8% compared to $61,336,000 for the same quarter in 2024[25] - The Enterprise Division generated $43,551,000 in revenue for the quarter, a decrease of 4.5% from $45,598,000 in the prior year[29] - The Education Division reported revenue of $15,065,000, an increase of 2.6% compared to $14,689,000 in the same quarter last year[29] Financial Metrics - Adjusted EBITDA for Q2 fiscal 2025 was $2.1 million, down from $7.4 million in the prior year, with constant currency Adjusted EBITDA at $2.6 million[7][10] - Adjusted EBITDA for the quarter was $2,060,000, with an adjusted EBITDA margin of 3.5%[27] - Gross profit for the quarter was $45,746,000, down from $46,851,000, reflecting a gross margin of 76.7%[25] - The company reported a net loss of $(1.1) million, or $(0.08) per share, compared to net income of $0.9 million, or $0.06 per diluted share, in the prior year[7][10] - Net loss for the quarter was $(1,076,000), compared to net income of $874,000 in the same quarter last year, resulting in a diluted loss per share of $(0.08)[25] Guidance and Expectations - The company expects fiscal 2025 revenue to be between $275 million and $285 million, reflecting a decrease of $7 million or 2.5% from the prior year[11][14] - The midpoint of the revised revenue guidance is $15 million or 5% lower than the low end of the original guidance[14] - The company anticipates a one-year setback due to government actions and expects Adjusted EBITDA to approach fiscal 2025 expectations in fiscal 2026[16] Cash Flow and Assets - Free cash flow for the two quarters ended February 28, 2025, was $7,801,000, down from $24,726,000 for the same period in 2024[33] - Total current assets decreased to $121,044,000 from $160,253,000 as of August 31, 2024[31] - Total liabilities decreased to $148,814,000 from $178,404,000 as of August 31, 2024[31] Stock and Restructuring - The company purchased 250,772 shares of common stock for $8.7 million during Q2 fiscal 2025, totaling 396,540 shares for $14.7 million in fiscal 2025[7][10] - The company reported a restructuring cost of $1,984,000 for the two quarters ended February 28, 2025[25] Deferred Revenue - Deferred subscription revenue rose by 10% to $94.4 million as of February 28, 2025, up from $86.1 million a year earlier[1][6]