FTAC EMERALD ACQ(EMLDU) - 2025 Q2 - Quarterly Results
2025-08-12 20:05
Exhibit 99.1 Fold Holdings, Inc. (NASDAQ: FLD) Announces Second Quarter 2025 Results Financial Highlights Key Operating Metricse CEO Commentary "We are pleased to report another strong quarter, with revenues for the second quarter increasing by 59% versus a year ago, while core KPIs such as Active Accounts and Transaction Volumes continued to expand", said Fold Chairman and CEO, Will Reeves. "Building on our successful public listing and the momentum from our first quarter, we have continued to execute on o ...
ClearPoint Neuro(CLPT) - 2025 Q2 - Quarterly Results
2025-08-12 20:05
[Q2 2025 Financial Highlights and Business Outlook](index=1&type=section&id=ClearPoint%20Neuro%20Reports%20Second%20Quarter%202025%20Results) [Key Achievements and Strategic Update](index=1&type=section&id=Second%20Quarter%20Highlights) ClearPoint Neuro reported record Q2 2025 revenue of $9.2 million, a 17% year-over-year increase, driven by growth across all business pillars, securing up to $105 million in financing to boost cash to $41.5 million for its 'Fast. Forward.' growth strategy | Metric | Q2 2025 | YoY Change | | :--- | :--- | :--- | | **Total Revenue** | $9.2 million | +17% | | **Neurosurgery Navigation & Therapy Revenue** | $3.4 million | +33% | | **Cash and Cash Equivalents** | $41.5 million | N/A | - The company entered a new strategic phase termed 'Fast. Forward.', focusing on multiple growth vectors including expansion into the operating room, laser therapy, new geographies, and supporting Biopharma partners in late-stage clinical trials[3](index=3&type=chunk) - A significant financing deal was secured with Oberland Capital Management, providing up to **$105.0 million** through a note arrangement and an additional **$3.5 million** from a stock purchase, with an initial **$30.0 million** funded at closing[4](index=4&type=chunk) [Business Outlook](index=2&type=section&id=Business%20Outlook) The company has reaffirmed its previously stated revenue guidance for the full fiscal year 2025 - ClearPoint Neuro reaffirms its full-year 2025 revenue outlook to be between **$36.0 million** and **$41.0 million**[5](index=5&type=chunk) [Detailed Financial Performance Analysis (Q2 2025)](index=2&type=section&id=Financial%20Results%20%E2%80%93%20Quarter%20Ended%20June%2030%2C%202025) [Revenue Analysis](index=2&type=section&id=Revenue%20Analysis) Total revenue for Q2 2025 increased by 17% year-over-year to $9.2 million, with Neurosurgery Navigation and Therapy revenue showing the strongest performance at 33% growth, followed by Capital Equipment and Software at 11% and Biologics and Drug Delivery at 10% [Biologics and Drug Delivery Revenue](index=2&type=section&id=Biologics%20and%20drug%20delivery%20revenue) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $4.7 million | $4.3 million | +10% | - The increase was driven by a **$0.2 million** rise in product revenue from higher demand as partners progress in trials, and a **$0.2 million** increase in service revenue[7](index=7&type=chunk) [Neurosurgery Navigation and Therapy Revenue](index=2&type=section&id=Neurosurgery%20navigation%20and%20therapy%20revenue) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $3.4 million | $2.6 million | +33% | - Growth was fueled by higher sales from new offerings, including SmartFrame OR, Prism Laser Therapy, and the new 3.0 operating room navigation software[8](index=8&type=chunk) [Capital Equipment and Software Revenue](index=2&type=section&id=Capital%20equipment%20and%20software%20revenue) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $1.0 million | $0.9 million | +11% | - The increase in this segment was primarily due to a rise in service revenue[9](index=9&type=chunk) [Profitability and Expenses](index=2&type=section&id=Profitability%20and%20Expenses) Gross margin for Q2 2025 declined to 60% from 63% in the prior-year period, primarily due to higher inventory reserves, while operating expenses increased by 16% to $11.2 million, driven by higher costs in R&D and personnel as the company invests in expansion - Gross margin decreased to **60%** for Q2 2025, compared to **63%** in Q2 2024, mainly due to higher excess and obsolete inventory reserves[10](index=10&type=chunk) - Operating expenses rose **16%** to **$11.2 million**, driven by increased product development costs, higher allowance for credit losses, and increased headcount in R&D and clinical organizations[11](index=11&type=chunk) [Liquidity and Capital Resources](index=2&type=section&id=Liquidity%20and%20Capital%20Resources) The company's cash position strengthened significantly, with cash and cash equivalents reaching $41.5 million at the end of Q2 2025, more than double the $20.1 million balance at year-end 2024, primarily from $32.0 million in net proceeds from a note payable and stock offering - Cash and cash equivalents totaled **$41.5 million** as of June 30, 2025, a substantial increase from **$20.1 million** at December 31, 2024[12](index=12&type=chunk) - The increase in cash was primarily due to net proceeds of **$32.0 million** from a note payable and stock offering, partially offset by **$8.7 million** used in operating activities[12](index=12&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) For the second quarter of 2025, ClearPoint Neuro reported total revenue of $9.2 million, a gross profit of $5.6 million, an operating loss of $5.7 million, and a net loss of $5.8 million or $(0.21) per share, compared to a net loss of $4.4 million or $(0.16) per share in the prior year | (in thousands, except per share data) | For the Three Months Ended June 30, 2025 | For the Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Total revenue** | $9,215 | $7,858 | | **Gross profit** | $5,556 | $4,988 | | **Operating loss** | $(5,680) | $(4,724) | | **Net loss** | $(5,837) | $(4,408) | | **Net loss per share (Basic and diluted)** | $(0.21) | $(0.16) | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, the company's total assets significantly increased to $62.9 million from $39.2 million at year-end 2024, driven by a rise in cash to $41.5 million, while total liabilities also increased to $43.1 million due to a new long-term note payable of $28.8 million | (in thousands) | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $41,541 | $20,104 | | **Total current assets** | $53,991 | $33,363 | | **Total assets** | $62,869 | $39,189 | | **Long-term note payable, net** | $28,845 | $— | | **Total liabilities** | $43,126 | $13,800 | | **Total stockholders' equity** | $19,743 | $25,389 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the first six months of 2025, the company used $8.7 million in cash for operating activities, while financing activities provided $30.6 million, primarily from a note payable and common stock offerings, resulting in a net cash increase of $21.6 million | (in thousands) | For the Six Months Ended June 30, 2025 | For the Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Net cash flows from operating activities** | $(8,724) | $(6,508) | | **Net cash flows from investing activities** | $(274) | $— | | **Net cash flows from financing activities** | $30,615 | $16,213 | | **Net change in cash** | $21,617 | $9,705 | | **Cash, cash equivalents and restricted cash, end of period** | $41,721 | $32,845 | [Other Information](index=2&type=section&id=Other%20Information) [Teleconference Information](index=2&type=section&id=Teleconference%20Information) The company will host a teleconference and webcast for investors and analysts to review its Q2 2025 financial results on Tuesday, August 12, 2025, at 4:30 p.m. Eastern time, with access details for the live event and a replay provided - An investor call is scheduled for August 12, 2025, at 4:30 p.m. ET to discuss the quarterly results, with a replay available until September 11, 2025[13](index=13&type=chunk)[14](index=14&type=chunk) [About ClearPoint Neuro](index=3&type=section&id=About%20ClearPoint%20Neuro) ClearPoint Neuro focuses on enabling precise navigation to the brain and spine for device, cell, and gene therapies, offering clinical products like its FDA-cleared ClearPoint Neuro Navigation System and preclinical development services to a global customer base - ClearPoint Neuro is a device, cell, and gene therapy-enabling company that provides precise navigation to the brain and spine for both clinical procedures and preclinical development[16](index=16&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This section provides a standard safe harbor statement, cautioning that statements regarding the company's future plans, growth, and financial performance are forward-looking and subject to significant risks and uncertainties, including macroeconomic conditions, regulatory changes, market acceptance of new products, and the success of its biopharma partners - The press release contains forward-looking statements concerning the company's plans, growth, and future performance, which are subject to inherent business risks and uncertainties[17](index=17&type=chunk) - Key risks identified include macroeconomic conditions, regulatory uncertainty, market acceptance for new products, and reliance on the commercial success of its biologics and drug delivery partners[17](index=17&type=chunk)
Fractyl Health(GUTS) - 2025 Q2 - Quarterly Results
2025-08-12 20:05
[Business Highlights and Clinical Pipeline Update](index=1&type=section&id=Business%20Highlights%20and%20Clinical%20Pipeline%20Update) The company reports positive clinical progress for its Revita® program and advancements in the preclinical Rejuva® gene therapy platform [Revita® Program](index=1&type=section&id=Revita%C2%AE%20Program) The Revita® procedure is advancing through the REMAIN-1 pivotal study to evaluate its efficacy post-GLP-1 drug discontinuation [REVEAL-1 Cohort](index=1&type=section&id=REVEAL-1%20Cohort) - Positive 3-month data showed that **12 of 13 participants maintained or further reduced their weight** after discontinuing GLP-1 medication and receiving a single Revita procedure[5](index=5&type=chunk)[6](index=6&type=chunk) - Median weight remained stable through 3 months (**0.46% change**), compared to a typical **5-6% weight rebound** seen in other clinical studies after GLP-1 withdrawal[6](index=6&type=chunk) - Upcoming data releases for the REVEAL-1 Cohort are expected for the 6-month follow-up in Q4 2025 and the 1-year follow-up in Q2 2026[6](index=6&type=chunk) [REMAIN-1 Midpoint Cohort](index=2&type=section&id=REMAIN-1%20Midpoint%20Cohort) - Enrollment is complete for the 45-participant randomized, double-blind REMAIN-1 Midpoint Cohort, designed to provide an early readout on Revita's potential for weight maintenance post-GLP-1[7](index=7&type=chunk)[10](index=10&type=chunk) - Key data readouts are anticipated in September 2025 (3-month data) and Q1 2026 (6-month data)[1](index=1&type=chunk)[10](index=10&type=chunk) [REMAIN-1 Pivotal Cohort](index=2&type=section&id=REMAIN-1%20Pivotal%20Cohort) - Enrollment is complete for the 315-participant randomized, double-blind REMAIN-1 Pivotal Cohort, which will evaluate the safety and efficacy of Revita for weight maintenance[8](index=8&type=chunk)[11](index=11&type=chunk) - The company expects to report 6-month primary endpoint data and submit a Premarket Approval (PMA) application to the FDA in the second half of 2026[1](index=1&type=chunk)[11](index=11&type=chunk) [Germany Real-World Registry Study](index=2&type=section&id=Germany%20Real-World%20Registry%20Study) - Data from the first 9 patients with 2 years of follow-up showed that a single Revita procedure led to a median **9.6% weight loss** and a **1.6% reduction in HbA1c** in participants with obesity and advanced T2D[9](index=9&type=chunk) - These effects were sustained through two years with **no device- or procedure-related serious adverse events** reported, supporting Revita's potential for durable, long-term metabolic control[9](index=9&type=chunk) [Rejuva® Gene Therapy Platform](index=3&type=section&id=Rejuva%C2%AE%20Gene%20Therapy%20Platform) The Rejuva® gene therapy platform is advancing its lead candidate, RJVA-001, toward first-in-human studies for T2D and obesity - Preclinical data presented at ADA and ASGCT showed a single dose of Rejuva prevented weight gain and hyperglycemia in animals, demonstrating durable metabolic improvements and supporting readiness for clinical trials[14](index=14&type=chunk) - The company submitted the first module of its CTA in Europe for RJVA-001 in May 2025 for a Phase 1/2 study in adults with inadequately controlled T2D[14](index=14&type=chunk) - Pending regulatory authorization, Fractyl expects to dose the first patients with RJVA-001 and report preliminary data in 2026[14](index=14&type=chunk) [Corporate Developments](index=3&type=section&id=Corporate%20Developments) The company strengthened its financial position, expanded its IP portfolio, and explored a potential commercial collaboration for Revita - Completed a **$23 million** underwritten public offering in August 2025, which is expected to extend the cash runway through key upcoming clinical data readouts from the REMAIN-1 Midpoint Cohort[2](index=2&type=chunk)[14](index=14&type=chunk) - Was issued **two new U.S. patents**, expanding protection for its duodenal mucosal resurfacing platform and bringing its portfolio to 32 granted U.S. patents[14](index=14&type=chunk) - Entered into a non-binding Letter of Intent with Bariendo Inc to evaluate a potential collaboration for Revita as a post-GLP-1 weight maintenance intervention, pending FDA approval[14](index=14&type=chunk) [Second Quarter 2025 Financial Results](index=4&type=section&id=Second%20Quarter%202025%20Financial%20Results) The company reported a wider net loss driven by increased R&D expenses, while maintaining a cash runway into 2026 Q2 2025 Financial Highlights (vs Q2 2024) | Metric | Q2 2025 | Q2 2024 | Change Driver | | :--- | :--- | :--- | :--- | | **R&D Expenses** | $21.2M | $16.8M | Advancement of REMAIN-1 study and Rejuva program | | **SG&A Expenses** | $4.9M | $6.2M | Lower stock-based compensation expenses | | **Net Loss** | ($27.9M) | ($17.2M) | Fluctuation in fair value of notes/warrants & higher operating expenses | | **Cash & Equivalents** | $22.3M | N/A | As of June 30, 2025 | - The company believes its cash position, including proceeds from the August 2025 offering, is sufficient to fund operations into 2026[17](index=17&type=chunk) [Financial Statements](index=6&type=section&id=Financial%20Statements) This section presents selected consolidated balance sheet and statement of operations data for the period ending June 30, 2025 [Selected Consolidated Balance Sheet Data](index=6&type=section&id=Selected%20Consolidated%20Balance%20Sheet%20Data) The balance sheet shows a significant decrease in cash and total assets, resulting in a stockholders' deficit as of June 30, 2025 Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $22,291 | $67,464 | | Total assets | $62,006 | $108,077 | | Total liabilities | $80,218 | $79,653 | | Total stockholders' equity (deficit) | ($18,212) | $28,424 | [Consolidated Statements of Operations and Comprehensive Loss](index=6&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The statement of operations reveals a wider net loss for Q2 2025 compared to Q2 2024, driven by higher R&D spending Statement of Operations Highlights (in thousands) | Account | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Research and development | $21,151 | $16,762 | | Selling, general and administrative | $4,928 | $6,242 | | Loss from operations | ($26,079) | ($22,985) | | Net loss and comprehensive loss | ($27,889) | ($17,229) | [About the Company and Products](index=4&type=section&id=About%20the%20Company%20and%20Products) This section provides an overview of Fractyl Health's mission and its key investigational product platforms, Revita® and Rejuva® [About Fractyl Health](index=4&type=section&id=About%20Fractyl%20Health) Fractyl Health is a metabolic therapeutics company developing disease-modifying therapies for obesity and Type 2 Diabetes - The company's goal is to transform metabolic disease treatment from chronic symptomatic management to durable therapies that target the root causes of disease[19](index=19&type=chunk) [About Revita®](index=4&type=section&id=About%20Revita%C2%AE) Revita® is an investigational duodenal remodeling procedure designed to maintain weight loss after GLP-1 drug discontinuation - Revita is designed to reverse damage to intestinal nutrient sensing and signaling mechanisms caused by chronic high-fat and high-sugar diets[20](index=20&type=chunk) [About Rejuva®](index=4&type=section&id=About%20Rejuva%C2%AE) The Rejuva® platform is a preclinical gene therapy program targeting the pancreas to provide durable treatment for T2D and obesity - Rejuva aims to offer novel, disease-modifying therapies by developing locally delivered gene therapies that address the underlying root causes of metabolic diseases[21](index=21&type=chunk)
Journey Medical (DERM) - 2025 Q2 - Quarterly Results
2025-08-12 20:05
Exhibit 99.1 Journey Medical Corporation Reports Second Quarter 2025 Financial Results and Recent Corporate Highlights Second quarter 2025 revenues were $15.0 million Conference Call and Webcast Information Journey Medical management will conduct a conference call and audio webcast on August 12, 2025, at 4:30 p.m. ET. To listen to the conference call, interested parties within the U.S. should dial 1-866-777-2509 (domestic) or 1-412-317-5413 (international). All callers should dial in approximately 10 minute ...
Slide Insurance Holdings Inc(SLDE) - 2025 Q2 - Quarterly Results
2025-08-12 20:05
[Second Quarter 2025 Performance Overview](index=1&type=section&id=SLIDE%20REPORTS%20SECOND%20QUARTER%202025%20RESULTS) This section provides a high-level summary of Slide Insurance Holdings, Inc.'s strong financial and operational achievements in Q2 2025, including key financial metrics and CEO commentary [Key Financial Highlights](index=1&type=section&id=Second%20Quarter%202025%20Highlights) Slide Insurance Holdings, Inc. achieved strong results in Q2 2025, with significant year-over-year growth in gross premiums written, net income, and total revenue, alongside a successful IPO in June 2025 Key Financial Metrics for Q2 2025 | Metric | Q2 2025 | Q2 2024 | YoY Change | | :----------------------- | :---------- | :---------- | :--------- | | Gross Premiums Written | $435.4M | $348.3M | +25.0% | | Net Income | $70.1M | $53.7M | +30.5% | | Diluted EPS | $0.56 | $0.45 | +24.4% | | Combined Ratio | 67.4% | 69.9% | -250 bps | - The company successfully completed its Initial Public Offering (IPO) in June 2025[1](index=1&type=chunk)[3](index=3&type=chunk) [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Bruce Lucas highlighted the company's continued success, strong year-over-year growth across key metrics, and the successful IPO, attributing it to superior underwriting technology - The CEO reported another strong quarter and the successful completion of the Initial Public Offering, marking a significant milestone[3](index=3&type=chunk) - The company's underwriting technology continues to perform exceptionally, generating superior underwriting returns and leveraging a well-capitalized balance sheet and tech-driven underwriting capabilities to support long-term growth strategies and shareholder value creation[3](index=3&type=chunk) [Second Quarter 2025 Operating Results](index=1&type=section&id=Second%20Quarter%202025%20Operating%20Results) This section details Slide's financial performance in Q2 2025, analyzing revenue growth drivers, expense trends, and key profitability indicators [Revenue Performance](index=1&type=section&id=Revenue%20Performance) Slide achieved robust revenue growth in Q2 2025, driven by additional policy acquisitions from Citizens and stable renewal rates, significantly increasing gross and net earned premiums Q2 2025 Revenue Overview | Metric | Q2 2025 | Q2 2024 | YoY Change | | :------------------- | :---------- | :---------- | :--------- | | Gross Premiums Written | $435.4M | $348.3M | +25.0% | | Net Premiums Earned | $243.9M | $195.0M | +25.1% | | Total Revenue | $261.6M | $209.1M | +25.1% | Policies in Force | Metric | June 30, 2025 | March 31, 2025 | June 30, 2024 | | :---------------- | :-------------- | :------------- | :-------------- | | Policies in Force | 348,439 | 348,029 | 275,178 | - Growth in gross premiums written and net premiums earned was primarily driven by the acquisition of additional policies from Citizens and stable renewal rates for existing policies[4](index=4&type=chunk)[5](index=5&type=chunk)[7](index=7&type=chunk) [Expense Analysis](index=2&type=section&id=Expense%20Analysis) Loss ratio significantly improved despite a slight increase in net losses and loss adjustment expenses due to higher policy count, with policy acquisition and general administrative expenses also rising Key Expenses for Q2 2025 | Expense Category | Q2 2025 | Q2 2024 | YoY Change | | :------------------------------------ | :---------- | :---------- | :--------- | | Losses and LAE, net | $91.4M | $89.5M | +2.1% | | Policy acquisition & other underwriting | $32.1M | $17.8M | +80.3% | | General and administrative | $37.9M | $26.8M | +41.4% | - Catastrophe losses from non-hurricane weather events significantly decreased to **$6.1 million** in Q2 2025 from **$29.9 million** in the prior year period[8](index=8&type=chunk) [Profitability Metrics](index=2&type=section&id=Profitability%20Metrics) The company enhanced underwriting profitability by reducing the combined ratio, achieving substantial net income growth, though Return on Equity declined due to increased equity from retained earnings and IPO proceeds Q2 2025 Profitability Metrics | Metric | Q2 2025 | Q2 2024 | YoY Change | | :---------------- | :---------- | :---------- | :--------- | | Net Income | $70.1M | $53.7M | +30.5% | | Diluted EPS | $0.56 | $0.45 | +24.4% | | Loss Ratio | 37.4% | 45.9% | -850 bps | | Combined Ratio | 67.4% | 69.9% | -250 bps | | Return on Equity | 10.0% | 16.9% | -690 bps | - The decrease in Return on Equity was due to the growth in equity during Q2 2025, primarily from retained earnings and proceeds from the company's Initial Public Offering[11](index=11&type=chunk) [Key Ratio Definitions](index=2&type=section&id=Key%20Ratios) This section defines key insurance industry ratios used to evaluate the company's financial performance, including loss ratio, policy acquisition expense ratio, expense ratio, and combined ratio - The Loss ratio, expressed as a percentage, is the ratio of net losses and loss adjustment expenses incurred to net premiums earned[12](index=12&type=chunk) - The Policy acquisition expense ratio, expressed as a percentage, is the ratio of policy acquisition and other underwriting expenses to net premiums earned[12](index=12&type=chunk) - The Expense ratio, expressed as a percentage, is the ratio of policy acquisition and other underwriting expenses, general and administrative expenses, and other operating expenses to net premiums earned[13](index=13&type=chunk) - The Combined ratio is the sum of the loss ratio and the expense ratio, with a ratio below 100% indicating underwriting profit and above 100% indicating an underwriting loss[13](index=13&type=chunk) [Company Information](index=3&type=section&id=About%20Slide) This section provides essential corporate details, including webcast and conference call information, forward-looking statements, a company overview, and contact information [Webcast and Conference Call](index=3&type=section&id=Webcast%20and%20Conference%20Call) This section provides details on the webcast and conference call to discuss financial results, including access methods and replay availability - Slide will host a conference call to discuss financial results on August 12, 2025, at 5:00 PM ET, with dial-in numbers (877) 407-9208 (toll-free) or (201) 493-6784 (international)[14](index=14&type=chunk) - A live webcast and replay of the conference will be available at ir.slideinsurance.com, with the replay accessible for one year[14](index=14&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This standard disclaimer addresses inherent risks and uncertainties that may cause actual results to differ materially from projections, noting Slide's lack of obligation to update these statements - Statements in this press release and the company's earnings call are forward-looking and subject to risks and uncertainties that could cause actual events and results to differ materially from those discussed[15](index=15&type=chunk) - Slide undertakes no obligation to update any forward-looking statements unless required by law[16](index=16&type=chunk)[17](index=17&type=chunk) [About Slide](index=4&type=section&id=About%20Slide) Slide is a Tampa, Florida-based tech-enabled insurance company founded by Bruce and Shannon Lucas, leveraging AI and big data to optimize and simplify insurance for homeowners - Slide is a tech-enabled insurance company that leverages artificial intelligence and big data to optimize and simplify the insurance process, helping homeowners choose coverage tailored to their unique needs and budgets[18](index=18&type=chunk) - Headquartered in Tampa, Florida, the company was founded by insurance industry veterans Bruce and Shannon Lucas, who possess a deep understanding of how technology can be applied to achieve better underwriting outcomes[18](index=18&type=chunk) [Contacts](index=4&type=section&id=Contacts) Contact information is provided for investor relations and media inquiries - Investor contact: ir@slideinsurance.com[19](index=19&type=chunk) - Media contact: Rachel Carr, Chief Marketing Officer, press@slideinsurance.com[19](index=19&type=chunk) [Financial Statements](index=5&type=section&id=Slide%20Insurance%20Holdings%2C%20Inc.) This section presents the unaudited condensed consolidated statements of operations and balance sheets, along with supplemental financial and operational data for various periods [Condensed Consolidated Statements of Operations (Unaudited)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20%28Unaudited%29) This section presents the unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2025 and 2024, detailing revenues, expenses, and net income Condensed Consolidated Statements of Operations (Unaudited, in thousands) | | | | Three Months Ended | | | | Six Months Ended | | |---|---|---|---|---|---|---|---|---| | | | | June 30, | | | | June 30, | | | | | 2025 | | 2024 | | 2025 | | 2024 | | Revenues: | | | | | | | | | | Gross premiums written | $ | 435,384 | $ | 348,336 | $ | 713,633 | $ | 592,964 | | Change in unearned premiums | | (96,726) | | (87,769) | | (24,084) | | (95,036) | | Gross premiums earned | | 338,658 | | 260,567 | | 689,549 | | 497,928 | | Ceded premiums earned | | (94,799) | | (65,601) | | (179,649) | | (114,854) | | Net premiums earned | | 243,859 | | 194,966 | | 509,900 | | 383,074 | | Net investment income | | 15,040 | | 12,151 | | 28,848 | | 21,714 | | Policy fees | | 2,455 | | 1,971 | | 3,988 | | 2,920 | | Other income | | 253 | | 43 | | 464 | | 549 | | Total revenue | $ | 261,607 | $ | 209,131 | $ | 543,200 | $ | 408,257 | | Expenses: | | | | | | | | | | Losses and loss adjustment expenses incurred, net | | 91,369 | | 89,520 | | 175,130 | | 168,541 | | Policy acquisition and other underwriting expenses | | 32,096 | | 17,782 | | 60,668 | | 34,862 | | General and administrative expenses | | 37,935 | | 26,752 | | 79,314 | | 53,833 | | Interest expense | | 895 | | 1,307 | | 1,830 | | 1,587 | | Depreciation expense | | 1,117 | | 363 | | 2,262 | | 680 | | Amortization expense | | 1,898 | | 1,958 | | 3,792 | | 3,946 | | Total expenses | $ | 165,310 | $ | 137,682 | $ | 322,996 | $ | 263,449 | | Net income before income tax expense | | 96,297 | | 71,449 | | 220,204 | | 144,808 | | Income tax expense | | 26,225 | | 17,707 | | 57,629 | | 36,353 | | Net income | $ | 70,072 | $ | 53,742 | $ | 162,575 | $ | 108,455 | | Basic income earnings per share | $ | 1.05 | $ | 0.96 | $ | 2.63 | $ | 1.93 | | Diluted income earnings per share | $ | 0.56 | $ | 0.45 | $ | 1.30 | $ | 0.90 | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section provides the unaudited condensed consolidated balance sheets as of June 30, 2025, and December 31, 2024, outlining assets, liabilities, and shareholders' equity Condensed Consolidated Balance Sheets (Unaudited, in thousands) | | | | | December 31, | |---|---|---|---|---| | | | June 30, 2025 | | 2024 | | | | (Unaudited) | | | | ASSETS Invested assets: | | | | | | Fixed-maturity securities, available-for-sale, at estimated fair value (amortized costs: $447,435 | | | | | | and $464,585, respectively and allowance for credit losses: $0 and $0 respectively) | $ | 454,550 | $ | 464,966 | | Other investments, net | | 4,212 | | 4,548 | | Total invested assets | $ | 458,762 | $ | 469,514 | | Cash and cash equivalents | | 936,187 | | 493,409 | | Restricted cash | | 648 | | 631 | | Restricted cash - variable interest entity | | 478,913 | | 295,802 | | Accrued interest income | | 5,786 | | 5,569 | | Assumed premiums receivable | | 22,312 | | 10,284 | | Premiums receivable, net of allowance for credit loss of $1,512 and $1,048, respectively | | 69,902 | | 47,642 | | Reinsurance recoverable on paid losses net of allowance for credit loss: $0 and $0, respectively | | 45,243 | | — | | Reinsurance recoverable on unpaid losses net of allowance for credit loss: $0 and $0, respectively | | 240,241 | | 341,051 | | Prepaid reinsurance premiums | | 432,733 | | 148,288 | | Deferred tax assets | | 15,742 | | 17,371 | | Deferred policy acquisition costs | | 71,458 | | 65,046 | | Advanced payments of premium tax liability | | 1,115 | | — | | Property and equipment, net | | 12,812 | | 13,578 | | Right-of-use lease asset, operating | | 7,701 | | 8,390 | | Intangibles, net | | 3,900 | | 7,692 | | Goodwill | | 2,603 | | 2,603 | | Prepaid expenses | | 7,361 | | 4,192 | | Other assets | | 610 | | 865 | | Total assets | $ | 2,814,029 | $ | 1,931,927 | | LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | Liabilities: | | | | | | Loss and loss adjustment expense reserves | $ | 571,812 | $ | 595,487 | | Unearned premiums | | 720,394 | | 696,310 | | Commissions payable | | 11,265 | | 8,254 | | Advanced recoveries on reinsurance | | — | | 4,844 | | Deferred revenue | | 90 | | 90 | | Reinsurance premiums payable | | 444,554 | | 70,452 | | Long-term debt, net | | 36,280 | | 39,190 | | Interest rate swap liability | | 103 | | 117 | | Income taxes payable | | 72,638 | | 43,943 | | Advanced premiums | | 50,518 | | 12,051 | | Premium tax liabilities | | — | | 1,206 | | Accounts payable and accrued expenses | | 24,357 | | 13,858 | | Lease liability, operating | | 8,374 | | 9,063 | | Other liabilities | | 5,584 | | 3,903 | | Total liabilities | $ | 1,945,969 | $ | 1,498,768 | | Shareholders' equity: | | | | | | Common Stock (par value $0.01, 1,500,000,000 shares authorized, 125,243,157 and 56,224,168 | | | | | | issued and outstanding at June 30, 2025 and December 31, 2024, respectively) | | 1,252 | | 562 | | Preferred stock (par value $0.01, 150,000,000 shares authorized, 0 and 51,374,125 issued | | | | | | and outstanding at June 30, 2025 and December 31, 2024, respectively) | | — | | 514 | | Additional paid-in capital | | 389,731 | | 122,607 | | Accumulated other comprehensive income, net of taxes | | 5,311 | | 285 | | Retained earnings | | 471,766 | | 309,191 | | Total shareholders' equity | $ | 868,060 | $ | 433,159 | | Total liabilities and shareholders' equity | $ | 2,814,029 | $ | 1,931,927 | [Supplemental Information](index=7&type=section&id=Supplemental%20Information) This section offers additional financial and operational data, including detailed revenue breakdowns, key ratios, policies in force, and average premiums across various periods Supplemental Information | | | | Three Months Ended June 30, | | | | Six Months Ended June 30, | | Year Ended December 31, 2024 | | |---|---|---|---|---|---|---|---|---|---|---| | | | | (in thousands) | | | (in thousands) | | | (in thousands) | | | Revenue | | 2025 | | 2024 | | 2025 | | 2024 | 2024 | | | Gross premiums written | $ | 435,384 | $ | 348,336 | $ | 713,633 | $ | 592,964 | $ | 1,334,864 | | Policy fees | | 2,455 | | 1,971 | | 3,988 | | 2,920 | | 6,550 | | Total revenue | $ | 261,607 | $ | 209,131 | $ | 543,200 | $ | 408,257 | $ | 864,814 | | Net income | $ | 70,072 | $ | 53,742 | $ | 162,575 | $ | 108,455 | $ | 201,125 | | Key Ratios | | | | | | | | | | | | Loss ratio | | 37.4% | | 45.9% | | 34.3% | | 44.0% | | 42.8% | | Policy acquisition expense ratio | | 13.2% | | 9.1% | | 11.9% | | 9.1% | | 10.8% | | Expense ratio | | 30.0% | | 24.0% | | 28.6% | | 24.3% | | 29.5% | | Combined ratio | | 67.4% | | 69.9% | | 62.9% | | 68.3% | | 72.3% | | Return on equity | | 10.0% | | 16.9% | | 25.0% | | 37.3% | | 60.0% | | Policies in Force | | | | | | | | | | | | Policies in force at beginning of period | | 348,029 | | 257,405 | | 343,056 | | 211,504 | | 211,504 | | Citizens residential policies assumed | | 14,167 | | 15,985 | | 26,240 | | 64,585 | | 135,530 | | Citizens commercial residential policies assumed | | 44 | | — | | 130 | | — | | 444 | | New residential policies written | | 5,603 | | 16,084 | | 11,376 | | 23,608 | | 46,397 | | New commercial residential policies written | | 41 | | — | | 53 | | — | | — | | Policy renewal rate | | 87.9% | | 88.1% | | 88.3% | | 88.2% | | 85.9% | | Policies in force at end of period | | 348,439 | | 275,178 | | 348,439 | | 275,178 | | 343,056 | | Average premium per residential policy | | 3,963 | | 3,991 | | 3,963 | | 3,991 | | 3,924 | | Average premium per commercial residential policy | | 110,575 | | — | | 110,575 | | — | | 97,240 | | | | | June 30, 2025 | | | | December 31, 2024 | | | | | | | | (in thousands) | | | | (in thousands) | | | | | Total Assets | $ | 2,814,029 | $ | 1,931,927 | | Shareholders' Equity | | 868,060 | | 433,159 | | Total common and preferred shares outstanding | | 125,243 | | 107,598 |
Gain Therapeutics(GANX) - 2025 Q2 - Quarterly Report
2025-08-12 20:05
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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: 001-40237 GAIN THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Delaware 85-1726310 (Stat ...
Rigetti(RGTI) - 2025 Q2 - Quarterly Results
2025-08-12 20:05
[Rigetti Second Quarter 2025 Results Overview](index=1&type=section&id=Rigetti%20Second%20Quarter%202025%20Results%20Overview) This section provides an overview of Rigetti's financial performance, technological advancements, and business developments for Q2 2025 [Financial Highlights](index=1&type=section&id=Financial%20Highlights) For the second quarter ended June 30, 2025, Rigetti reported total revenues of $1.8 million and a net loss of $39.7 million, significantly impacted by a $22.8 million non-cash loss, ending the quarter with a strong cash position of $571.6 million Q2 2025 Financial Highlights (Three Months Ended June 30, 2025) | Metric | Value (USD) | | :--- | :--- | | Total Revenues | $1.8 million | | Total Operating Expenses | $20.4 million | | Operating Loss | $19.9 million | | Net Loss | $39.7 million | | Cash, Cash Equivalents & Investments | $571.6 million | - The net loss for Q2 2025 includes a significant non-cash loss of **$22.8 million** from the fair value change in derivative warrant and earn-out liabilities[7](index=7&type=chunk) [Technology Update](index=1&type=section&id=Technology%20Update) Rigetti announced the general availability of its Cepheus™-1-36Q, the industry's largest multi-chip quantum computer, demonstrating significant performance improvements and planning a 100+ qubit system by end of 2025 - The 36-qubit multi-chip quantum computer, Cepheus-1-36Q, is now generally available on the Rigetti Quantum Cloud Services Platform (QCS®) and will be available on Microsoft Azure[4](index=4&type=chunk) - Cepheus-1-36Q achieved a **2x reduction** in two-qubit gate error rate compared to the previous Ankaa™-3 system, reaching a median two-qubit gate fidelity of **99.5%**[4](index=4&type=chunk)[5](index=5&type=chunk) - Key technological features contributing to performance include a proprietary chiplet-based architecture, faster two-qubit gates, and an enhanced intermodule coupler design[8](index=8&type=chunk) - Rigetti plans to release a **100+ qubit** chiplet-based system at **99.5%** median two-qubit gate fidelity before the end of 2025[9](index=9&type=chunk) [Business Update](index=3&type=section&id=Business%20Update) During the second quarter of 2025, Rigetti significantly strengthened its financial position by completing a $350 million equity offering, holding approximately $571.6 million in cash, cash equivalents, and investments with no debt - Completed an at-the-market equity offering with **$350 million** in gross proceeds during Q2 2025[10](index=10&type=chunk) - As of June 30, 2025, the company had approximately **$571.6 million** in cash, cash equivalents, and available-for-sale investments with no debt[10](index=10&type=chunk) - Proceeds are intended for working capital, capital expenditures, and potential strategic collaborations or acquisitions[11](index=11&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) This section presents Rigetti's condensed consolidated balance sheets, statements of operations, and statements of cash flows [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, Rigetti's total assets increased significantly to $636.7 million from $284.8 million at the end of 2024, driven by a substantial rise in cash and available-for-sale investments, while total liabilities decreased to $83.4 million, leading to total stockholders' equity growing to $553.3 million Balance Sheet Summary (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $57,183 | $67,674 | | Total current assets | $433,579 | $206,758 | | **Total assets** | **$636,690** | **$284,787** | | Total current liabilities | $10,430 | $11,867 | | **Total liabilities** | **$83,427** | **$158,198** | | **Total stockholders' equity** | **$553,263** | **$126,589** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the three months ended June 30, 2025, Rigetti's revenue decreased to $1.8 million from $3.1 million in the same period of 2024, resulting in a net loss of $39.7 million, or ($0.13) per share, primarily due to a $22.8 million non-cash charge and higher operating expenses Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Revenue | $1,801 | $3,086 | | Gross Profit | $566 | $1,990 | | Loss from Operations | $(19,882) | $(16,085) | | **Net Loss** | **$(39,654)** | **$(12,421)** | | Net Loss Per Share - basic | $(0.13) | $(0.07) | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash used in operating activities was $29.8 million, investing activities used $369.7 million, and financing activities provided $389.1 million, resulting in a net decrease in cash and cash equivalents of $10.5 million Cash Flow Summary (in thousands) | Cash Flow Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(29,820) | $(26,656) | | Net cash used in investing activities | $(369,732) | $(7,033) | | Net cash provided by financing activities | $389,095 | $33,093 | | **Net decrease in cash and cash equivalents** | **$(10,491)** | **$(708)** | | Cash and cash equivalents – end of period | $57,183 | $20,684 | [Other Information](index=3&type=section&id=Other%20Information) This section provides details on the upcoming conference call and important cautionary language regarding forward-looking statements [Conference Call and Webcast](index=3&type=section&id=Conference%20Call%20and%20Webcast) Rigetti will host a conference call and webcast on August 12, 2025, at 5:00 pm ET to discuss its second quarter 2025 financial results, with participation and access details provided - A conference call to discuss Q2 2025 financial results is scheduled for August 12, 2025, at **5:00 pm ET**[12](index=12&type=chunk) - Instructions for accessing the live audio webcast and replay are available on the company's Investor Relations website[13](index=13&type=chunk) [Cautionary Language Concerning Forward-Looking Statements](index=4&type=section&id=Cautionary%20Language%20Concerning%20Forward-Looking%20Statements) This section contains standard cautionary language regarding forward-looking statements, advising readers that future expectations are subject to various risks and uncertainties that could cause actual results to differ materially - The report includes forward-looking statements regarding future performance, technology roadmap, and use of capital, which are inherently uncertain[17](index=17&type=chunk) - Readers are cautioned not to place undue reliance on these statements and are directed to the company's SEC filings for a detailed discussion of risks and uncertainties[17](index=17&type=chunk)
Rhinebeck Bancorp(RBKB) - 2025 Q2 - Quarterly Report
2025-08-12 20:05
Table of Contents 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 No. 001-38779 Rhinebeck Bancorp, Inc. (Exact name of registrant as specified in its charter) Maryland 83-2117268 (State or other juri ...
Alico(ALCO) - 2025 Q3 - Quarterly Report
2025-08-12 20:05
Table of Contents 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 o 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: 0-261 ALICO, INC. (Exact name of registrant as specified in its charter) Florid ...
Organovo(ONVO) - 2026 Q1 - Quarterly Report
2025-08-12 20:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 001-35996 VivoSim Labs, Inc. (Exact name of registrant as specified in its charter) Delaware 27-1488943 (State or other jurisdiction of incorporat ...