Amtech Systems(ASYS) - 2025 Q4 - Annual Results
2025-12-10 21:10
EXHIBIT 99.1 Fourth Quarter Fiscal 2025 Financial and Operational Highlights: (1) See GAAP to non-GAAP and EBITDA and Adjusted EBITDA reconciliation in schedules following this release. Management Comments "Stronger than expected results in the fourth quarter were driven by AI applications," commented Mr. Bob Daigle, Chief Executive Officer of Amtech. Advanced Packaging and assembly equipment we produce for AI infrastructure accounted for over 30% of our Thermal Processing Solutions (TPS) segment revenue in ...
Kewaunee Scientific (KEQU) - 2026 Q2 - Quarterly Results
2025-12-10 21:09
Financial Performance - Sales for the second quarter of fiscal year 2026 were $70,096,000, a 46.8% increase from $47,764,000 in the prior year quarter[3] - Pre-tax earnings decreased by 12.2% to $3,453,000 compared to $3,931,000 in the prior year quarter[3] - Kewaunee Scientific reported net sales of $70,096,000 for the three months ended October 31, 2025, a 46.7% increase from $47,764,000 in the same period of 2024[20] - Gross profit for the three months ended October 31, 2025, was $19,720,000, representing a 41.5% increase compared to $13,952,000 in the prior year[20] - Operating profit decreased slightly to $4,107,000 for the three months ended October 31, 2025, down from $4,434,000 in the same period of 2024[20] - Net earnings attributable to Kewaunee Scientific Corporation for the three months ended October 31, 2025, were $2,445,000, a decrease of 18.7% from $3,008,000 in the prior year[20] Sales Breakdown - Domestic sales increased by 51.7% to $55,224,000 from $36,409,000 in the prior year quarter[4] - International sales rose by 31.0% to $14,872,000 from $11,355,000 in the prior year quarter[5] Assets and Liabilities - The company’s total assets as of October 31, 2025, were $189,075,000, down from $194,654,000 as of April 30, 2025[22] - Total liabilities decreased to $117,358,000 as of October 31, 2025, compared to $128,409,000 as of April 30, 2025[22] - Kewaunee Scientific's cash and cash equivalents were $12,594,000 as of October 31, 2025, down from $14,942,000[22] - Total cash on hand was $13,679,000, down from $17,164,000 on April 30, 2025[8] - Long-term debt decreased to $58,164,000 from $60,730,000 on April 30, 2025[9] - The debt-to-equity ratio improved to 0.88-to-1 from 0.99-to-1 on April 30, 2025[9] Acquisition and Strategy - The acquisition of Nu Aire, Inc. is part of the company's strategy to diversify and enhance its laboratory solutions offerings[10] - The company has integrated its newly acquired subsidiary, Nu Aire, which is expected to enhance its product offerings in laboratory equipment[16] - Kewaunee Scientific anticipates that the acquisition of Nu Aire will provide significant benefits, although it faces risks related to competitive conditions and supply chain disruptions[18] Inventory and Backlog - The company's order backlog was $192.9 million as of October 31, 2025, compared to $184.4 million a year earlier[3] - The company reported an increase in inventories to $35,499,000 as of October 31, 2025, compared to $32,849,000 as of April 30, 2025[22] - The company expects strong demand for its products and a robust backlog through the end of the fiscal year[10]
Skillsoft (SKIL) - 2026 Q3 - Quarterly Report
2025-12-10 21:08
Financial Performance - Total revenues for the three months ended October 31, 2025, were $128.998 million, a decrease of 6.4% compared to $137.225 million for the same period in 2024[16] - Operating loss for the three months ended October 31, 2025, was $34.329 million, compared to a loss of $9.177 million in the same period of 2024[16] - Net loss for the nine months ended October 31, 2025, was $103.116 million, compared to a loss of $90.801 million for the same period in 2024, reflecting a year-over-year increase of 13.5%[16] - The net loss for the quarter ending October 31, 2025, is $41,279,000[25] - For the nine months ended October 31, 2025, Skillsoft reported a net loss of $103.1 million, compared to a net loss of $90.8 million for the same period in 2024[31] - The consolidated net loss for the three months ended October 31, 2025, was $41.279 million, compared to a net loss of $23.599 million for the same period in 2024[128] - Basic and diluted earnings per share for the three months ended October 31, 2025, were $(4.74), compared to $(2.86) for the same period in 2024[128] Assets and Liabilities - Total current assets decreased to $230.656 million as of October 31, 2025, down from $332.853 million as of January 31, 2025, representing a decline of 30.8%[14] - Total assets decreased to $897.582 million as of October 31, 2025, compared to $1.106 billion as of January 31, 2025, a reduction of 18.9%[14] - Total current liabilities decreased to $272.994 million as of October 31, 2025, down from $376.982 million as of January 31, 2025, a decline of 27.5%[14] - Shareholders' equity decreased to $3.988 million as of October 31, 2025, compared to $93.846 million as of January 31, 2025, indicating a significant decline[14] - As of October 31, 2025, Skillsoft's long-term debt amounted to $570.2 million, with current maturities of $6.4 million[70] - The fair value of Skillsoft's outstanding long-term debt as of October 31, 2025, was $511.2 million[115] Cash Flow and Expenses - Cash flows from operating activities resulted in a net cash outflow of $5.4 million for the nine months ended October 31, 2025, compared to a net cash inflow of $12.2 million in 2024[31] - The company reported a net decrease in cash, cash equivalents, and restricted cash of $25.8 million for the nine months ended October 31, 2025[31] - Skillsoft's cash and cash equivalents at the end of the period were $74.6 million, down from $97.9 million at the end of the same period in 2024[35] - The company incurred total operating expenses of $163.327 million for the three months ended October 31, 2025, an increase from $146.402 million in the same period of 2024[16] - Interest expense for the nine months ended October 31, 2025, was $44.115 million, compared to $48.538 million for the same period in 2024[126] - Cash paid for interest during the nine months ended October 31, 2025, was $41.8 million, compared to $48.4 million in 2024[35] Stock and Equity - The weighted average common shares outstanding for the nine months ended October 31, 2025, were 8,536,207, compared to 8,170,344 for the same period in 2024[16] - The total number of Class A common shares outstanding increased from 8,380,436 to 9,051,822 between January 31, 2024, and October 31, 2025[28][25] - As of October 31, 2025, Skillsoft had 9,051,822 shares of common stock issued and 8,752,045 shares outstanding[74] - The total additional paid-in capital as of October 31, 2025, is $1,575,259,000[25] - The total number of shares available for issuance under the 2020 Omnibus Incentive Plan was 496,019 as of October 31, 2025, following an amendment that increased the total shares available[80] Revenue Recognition - The company recognized revenue from subscription services on a straight-line basis over the contract term, which typically ranges from one to three years[97] - Revenue from professional services is recognized over time as services are performed, with billing commonly occurring in advance of the services being provided[99] - SaaS and subscription services revenue for the three months ended October 31, 2025, was $93,532, a decrease of 3.3% from $97,123 in the same period of 2024[100] - Total net revenues for the three months ended October 31, 2025, were $128,998, down 6.0% from $137,225 in the prior year[101] - Revenue from the United States for the three months ended October 31, 2025, was $83,537, a decrease of 6.4% compared to $88,960 in 2024[102] Impairments and Adjustments - The company reported an impairment of goodwill amounting to $20.771 million for the three months ended October 31, 2025[16] - The company incurred an impairment of goodwill amounting to $20.8 million during the nine months ended October 31, 2025[31] - The translation adjustment for the quarter ending October 31, 2025, was a loss of $13,879,000[25] - The restructuring charges for the three months ended October 31, 2025 totaled $4.15 million, primarily associated with costs of terminated employees[63] Future Projections - Future amortization expense related to intangible assets is expected to total $270.2 million over the next several fiscal years[48] - The company will continue to evaluate its cost structure and operating model, which may result in further restructuring actions[64]
Vail Resorts(MTN) - 2026 Q1 - Quarterly Report
2025-12-10 21:07
Financial Performance - For the three months ended October 31, 2025, the net loss attributable to Vail Resorts, Inc. was $186.8 million, compared to a net loss of $173.3 million for the same period in 2024, representing a year-over-year increase in loss of approximately 7.9%[92] - Resort Reported EBITDA for the three months ended October 31, 2025, was $(139.7) million, slightly improved from $(139.7) million in 2024, indicating a stable performance despite seasonal challenges[92] - The Mountain Reported EBITDA for the three months ended October 31, 2025, was $(142.6) million, a 1.0% improvement from $(144.1) million in 2024, attributed to increased visitation and resource efficiency[94] - The Real Estate segment reported EBITDA of $11.5 million for the three months ended October 31, 2025, down from $15.1 million in 2024, reflecting fluctuations in real estate sales timing[92] - The Lodging segment reported EBITDA of $2.9 million for the three months ended October 31, 2025, a decrease from $4.4 million in 2024, highlighting challenges in the lodging operations[92] Revenue and Sales - Mountain segment net revenue increased by 6.9% to $185.2 million for the three months ended October 31, 2025, up from $173.3 million in 2024, driven by a 22.8% increase in lift revenue[94] - Total skier visits for the Mountain segment increased by 34.9% to 739,000 in the three months ended October 31, 2025, compared to 548,000 in the same period in 2024[94] - Ski school revenue increased by $1.0 million or 15.3%, driven by improved visitation at Australian resorts and increased lesson pricing[99] - Other revenue rose by $1.3 million or 1.6%, primarily due to increased summer activities and sightseeing revenue from higher pricing[100] - Lodging segment total net revenue decreased by $1.2 million or 1.4%, with owned hotel rooms revenue increasing by 1.3% while managed condominium rooms revenue decreased by 17.2%[104][106] - Real Estate segment net revenue increased by $17,000 or 27.0%, while Real Estate Reported EBITDA decreased by $3.6 million or 23.9%[109] Operating Expenses and Cash Flow - Operating expenses increased by $9.4 million or 2.9%, mainly due to higher variable expenses linked to increased revenue in Australia[101] - Net cash provided by operating activities increased by $33.2 million to $315.9 million, driven by decreased income tax payments and increased product sales[114] - Cash and cash equivalents as of October 31, 2025, totaled $581.5 million, with an additional $507.7 million available under the Vail Holdings Credit Agreement, ensuring sufficient liquidity for operations[91] - Cash and cash equivalents rose to $581.5 million as of October 31, 2025, compared to $403.8 million in the prior year[117] - The company anticipates continued significant operating cash flows from its Mountain and Lodging segments for at least the next 12 months[117] Debt and Liquidity - Total long-term debt increased from $2.8 billion as of October 31, 2024, to $3.2 billion as of October 31, 2025, with net debt rising from $2.4 billion to $2.6 billion[121] - The company has approximately $1.0 billion of variable-rate debt outstanding, with a 100-basis point change in borrowing rates affecting annual interest payments by approximately $9.5 million[124] - The company expects to meet liquidity needs through existing cash, operating cash flows, and borrowings under credit agreements if necessary[121] - The company amended the Whistler Credit Agreement to extend the maturity date to September 24, 2030, and reduced the total size of the credit facility from C$300.0 million to C$250.0 million[122] - The company was in compliance with all restrictive financial covenants in its debt instruments as of October 31, 2025[129] Shareholder Returns - A cash dividend of $2.22 per share was approved, payable on January 12, 2026, with $79.8 million paid in dividends during the three months ended October 31, 2025[125] - The company repurchased 114,800 shares during the three months ended October 31, 2024, at an average cost of $174.21, totaling approximately $20.0 million[126] - The company has repurchased a total of 11,060,183 shares at a cost of approximately $1,399.4 million since the inception of the share repurchase program[126] Risks and Challenges - The company experienced inflationary pressures and one-time operating expenses of $3.6 million in the Mountain segment for the three months ended October 31, 2025, impacting overall profitability[97] - Risks related to high fixed cost structure and reliance on government permits for operational improvements were highlighted[136] - The company faces risks associated with labor disruptions and increased labor costs impacting operational efficiency[136] - There are risks related to the integration of acquired businesses and their performance in new markets, including Europe[136] - The company is subject to various risks from changes in tax laws and regulations that could adversely affect financial results[136] Foreign Currency Exposure - Foreign currency translation adjustments for the three months ended October 31, 2025, resulted in losses of $8,396 thousand, compared to losses of $3,854 thousand in the same period of 2024[140] - Foreign currency loss on intercompany loans for the three months ended October 31, 2025, was $79 thousand, down from $264 thousand in the same period of 2024[140] - The company is exposed to currency translation risk due to fluctuations in the Canadian dollar, Australian dollar, and Swiss franc compared to the U.S. dollar[138] - The company does not currently enter into hedging arrangements to minimize the impact of foreign currency fluctuations on operations[138]
Skillsoft (SKIL) - 2026 Q3 - Quarterly Results
2025-12-10 21:06
Fiscal 2026 Third Quarter Select Metrics and Financial Measures (1) "Our TDS segment continues to make progress with the September announcement of the Skillsoft Percipio Platform, with agentic AI capabilities, and with the signing of our first four large enterprise customers," said Ron Hovsepian, Skillsoft Executive Chair and CEO. "In addition, AI now drives more than half of our design, curation, and production work for learning content. This is changing how we operate and strengthening the value we delive ...
Vail Resorts(MTN) - 2026 Q1 - Quarterly Results
2025-12-10 21:06
Exhibit 99.1 Vail Resorts Contacts: Investor Relations: Connie Wang, InvestorRelations@vailresorts.com Media: Sara Olson, News@vailresorts.com Vail Resorts Reports First Quarter Fiscal 2026 and Season Pass Sales Results, Reaffirms Guidance and Announces 2026 Capital Plan BROOMFIELD, Colo. - December 10, 2025 - Vail Resorts, Inc. (NYSE: MTN) today reported results for the first quarter of fiscal 2026 ended October 31, 2025, provided North American season pass sales results for the 2025/2026 ski season, reaff ...
Adobe(ADBE) - 2025 Q4 - Annual Results
2025-12-10 21:05
Financial Performance - Adobe achieved record revenue of $6.19 billion in Q4 FY2025, representing a 10% year-over-year growth[6] - Total Adobe Annualized Recurring Revenue (ARR) exiting FY2025 was $25.20 billion, reflecting an 11.5% year-over-year growth[11] - Digital Media segment revenue reached $4.62 billion in Q4 FY2025, marking an 11% year-over-year growth[6] - Digital Experience segment revenue was $1.52 billion in Q4 FY2025, representing a 9% year-over-year growth[6] - Business Professionals & Consumers subscription revenue was $1.72 billion in Q4 FY2025, reflecting a 15% year-over-year growth[6] - Adobe's GAAP net income for FY2025 was $7.13 billion, with diluted EPS of $16.70[11] - Net income for the three months ended November 28, 2025, was $1,856 million, an increase of 10.3% compared to $1,683 million for the same period in 2024[23] - Non-GAAP operating income for the three months ended November 28, 2025, was $2,824 million, up 8.8% from $2,596 million in the prior year[25] - GAAP diluted net income per share for the three months ended November 28, 2025, was $4.45, up from $3.79 in the same period last year, reflecting a growth of 17.4%[25] Cash Flow and Assets - Operating cash flows for FY2025 were over $10 billion, with record cash flows from operations of $3.16 billion in Q4[5][6] - Cash and cash equivalents at the end of the period were $5,431 million, a decrease of 28.6% from $7,613 million at the end of the same period last year[23] - Total assets decreased to $29,496 million as of November 28, 2025, down from $30,230 million a year earlier, representing a decline of approximately 2.4%[22] - The company reported a net cash provided by operating activities of $3,160 million for the three months ended November 28, 2025, an increase of 8.2% from $2,921 million in the same period last year[23] Liabilities and Share Repurchase - Total liabilities increased to $17,873 million as of November 28, 2025, compared to $16,125 million a year earlier, marking an increase of approximately 10.8%[22] - The company repurchased approximately 7.2 million shares during Q4 FY2025 and 30.8 million shares throughout FY2025[6][11] - The company repurchased $2,474 million of common stock during the three months ended November 28, 2025, compared to $2,500 million in the same period last year[23] Future Projections - Adobe plans to target over 10% growth in Total Adobe ending ARR for FY2026[5] - For FY2026, Adobe projects total revenue between $25.90 billion and $26.10 billion, with earnings per share (EPS) guidance of $17.90 to $18.10 on a GAAP basis[10] - For fiscal year 2026, the company projects GAAP diluted net income per share to be between $17.90 and $18.10, with non-GAAP diluted net income per share expected to be between $23.30 and $23.50[28] Tax and Non-GAAP Measures - The effective income tax rate for GAAP was reported at 18.0% for the fourth quarter of fiscal 2025, with a non-GAAP effective income tax rate of 18.5%[27] - Adobe utilizes non-GAAP financial information to evaluate ongoing operations and for internal planning and forecasting purposes[31] - Non-GAAP measures may exclude items such as stock-based compensation, amortization of intangibles, and other non-operational items[32] - Adobe provides reconciliations of non-GAAP financial measures to the most closely applicable GAAP financial measures[32] - The management believes that non-GAAP measures offer greater transparency regarding key metrics used in financial and operational decision-making[31] - Investors are encouraged to review both GAAP and non-GAAP financial measures for a comprehensive understanding of Adobe's performance[32] - Non-GAAP measures are considered useful for assessing the performance of Adobe's business and for future planning[32] - The company emphasizes that non-GAAP measures should not be viewed in isolation from GAAP financial information[31] - Adobe's management does not suggest that investors consider non-GAAP measures as substitutes for GAAP measures[31] - The use of non-GAAP measures allows institutional investors and analysts to better evaluate Adobe's operating results and future prospects[31] - Adobe continues to comply with all GAAP requirements while providing additional non-GAAP insights[31]
Embrace Change Acquisition Corp.(EMCGU) - 2025 Q3 - Quarterly Report
2025-12-10 21:05
Financial Position - As of September 30, 2025, the company had cash of $5,431 and a working capital deficit of $30,681,811[139]. - The total due to third parties was $1,675,000 as of September 30, 2025, which increased to $1,950,000 after receiving additional funds[145]. - The company borrowed $241,112 under Working Capital Loans as of September 30, 2025, which is included in convertible promissory notes[141]. - The company has no off-balance sheet arrangements or long-term liabilities as of September 30, 2025[149]. - The company has a deferred underwriting fee of $2,587,499, which will be revised to $750,000 in cash and 200,000 shares upon closing of the initial business combination[150]. Business Combination and Agreements - The Company entered into a merger agreement with Tianji Tire Global, with a total merger consideration of $450 million, issuing 45 million ordinary shares at a deemed price of $10.00 per share[134]. - The Company extended the Termination Date to August 12, 2025, by depositing an aggregate of $700,000 into the Trust Account[115]. - The Company has the right to extend the Combination Period twelve times for an additional month each time, up to August 12, 2026[116]. - The Company received a delisting notice from Nasdaq on August 14, 2025, due to failure to complete its initial business combination by August 9, 2025[126]. Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $18,447, with investment income of $287,440 and operating costs of $267,843[137]. - For the nine months ended September 30, 2025, the company had a net loss of $169,811, consisting of operating costs of $998,347 and interest expense of $3,413, partially offset by investment income of $831,949[138]. - The company recorded interest expenses of $3,413 for the nine months ended September 30, 2025, under the promissory note[130]. - The company recorded interest expenses of $1,150 and $3,513 for the three months ended September 30, 2025, and 2024, respectively[147]. Funding and Capital - The Company received $400,000 from Tianji for extension deposits, with $375,000 deposited into the Trust Account as of September 30, 2025[119]. - The Company received $275,000 from Tianji for working capital and extension deposits, with $200,000 deposited into the Trust Account[132]. - The Company borrowed $900,000 from Tianji and its subsidiaries from January 2025 to September 2025, resulting in a total of $1,950,000 due to third parties[128]. Going Concern - The company expects to incur significant costs in pursuit of its financing and acquisition plans, raising substantial doubt about its ability to continue as a going concern if a business combination is not completed by August 12, 2026[148]. Accounting and Estimates - The company has no critical accounting estimates as of September 30, 2025[151].
Embrace Change Acquisition (EMCG) - 2025 Q3 - Quarterly Report
2025-12-10 21:05
Financial Position - As of September 30, 2025, the company had cash of $5,431 and a working capital deficit of $30,681,811[139]. - The company borrowed $241,112 under Working Capital Loans as of September 30, 2025, which is included in convertible promissory notes[141]. - The total due to third parties as of September 30, 2025, was $1,675,000, which increased to $1,950,000 after receiving additional funds post-reporting[145]. - The company has no off-balance sheet arrangements or long-term liabilities as of September 30, 2025[149]. - The company has no critical accounting estimates as of September 30, 2025[151]. Business Combination and Financing - The Company entered into a merger agreement with Tianji, with a total merger consideration of $450 million, issuing 45,000,000 ordinary shares at a deemed price of $10.00 per share[134]. - The Company extended the Termination Date to August 12, 2025, by depositing an aggregate of $700,000 into the Trust Account[115]. - The Company has the right to extend the Combination Period twelve times for an additional month each time, as approved by shareholders[116]. - The Company is obligated to deposit an additional $75,000 into the Trust Account for extension payments[119]. - The company expects to incur significant costs in pursuit of its financing and acquisition plans, raising substantial doubt about its ability to continue as a going concern if a Business Combination is not consummated by August 12, 2026[148]. Shareholder Transactions - As of August 11, 2025, 2,097,743 ordinary shares were tendered for redemption, resulting in approximately $26 million paid to shareholders[118]. - The Company received $400,000 from Tianji for extension deposits, with $375,000 deposited into the Trust Account as of September 30, 2025[119]. - The company received a total of $775,000 from a subsidiary of Tianji from July 2024 to December 2024 for working capital[128]. Income and Expenses - For the three months ended September 30, 2025, the company reported a net income of $18,447, with investment income of $287,440 and operating costs of $267,843[137]. - For the nine months ended September 30, 2025, the company incurred a net loss of $169,811, consisting of operating costs of $998,347 and interest expense of $3,413, partially offset by investment income of $831,949[138]. - The Company recorded interest expenses of $3,413 and $3,513 for the nine months ended September 30, 2025, and 2024, respectively[130]. - The company recorded interest expenses of $1,150 and $3,513 for the three months ended September 30, 2025, and 2024, respectively[147]. Regulatory and Compliance - The Company received a delisting notice from Nasdaq on August 14, 2025, due to failure to complete its initial business combination by August 9, 2025[126]. - The company has a deferred underwriting fee of 3.50% of the gross proceeds of the Offering, amounting to $2,587,499, payable upon closing of the Business Combination[150]. - The Company borrowed $900,000 from Tianji and its subsidiaries from January 2025 to September 2025, resulting in a total of $1,950,000 due to third parties[128].
Planet Labs PBC(PL) - 2026 Q3 - Quarterly Results
2025-12-10 21:05
Please see "Planet's Use of Non-GAAP Financial Measures" below for a discussion on how Planet calculates the non- GAAP financial measures presented herein. In addition, reconciliations to the most directly comparable U.S. GAAP financial measures are provided in the tables at the end of this release. • Third quarter revenue increased 33% year-over-year to a record $81.3 million. • Percent of recurring annual contract value (ACV) for the third quarter was 97%. • Third quarter gross margin was 57%, compared to ...