Financial Data and Key Metrics Changes - The company reported revenues of $732 million for the fiscal year 2024, a 14% increase compared to the prior year [7] - For Q4 2024, revenues were $186 million, reflecting a solid 5% year-over-year growth [7] - Gross margins decreased to 46.5% in Q4 2024 from 54% in Q4 2023, primarily due to increased costs and changes in sales structure [23] - Net income for Q4 2024 was $34 million or $0.74 per share, compared to $36.2 million or $0.68 per share in the previous year [25] Business Line Data and Key Metrics Changes - BAQSIMI sales grew 12% at the factory level, contributing $41.8 million to net product sales [20] - Primatene MIST sales reached $28.9 million in Q4 2024, an 18% increase from $24.5 million in the prior year [22] - Glucagon sales declined to $25.6 million from $31.2 million due to increased competition [22] - Epinephrine sales also decreased to $18.7 million from $24.6 million in the previous year [22] Market Data and Key Metrics Changes - The company anticipates continued unit growth in the high single-digit range for BAQSIMI following a 3% price increase in the U.S. [27] - Primatene MIST is expected to see high single-digit sales growth as the physician sampling program expands [27] - Increased competition is expected to lead to sales declines for glucagon, epinephrine, phytonadione, and enoxaparin [28] Company Strategy and Development Direction - The company is focusing on its branded and proprietary portfolio, with significant sales milestones achieved for Primatene MIST and BAQSIMI [18] - A strategic partnership with MannKind aims to enhance the sales reach of BAQSIMI [8] - The company plans to ramp up spending on clinical trials and expand its manufacturing capacity to support new product launches [30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential of Primatene MIST and BAQSIMI, expecting them to be key revenue contributors through 2025 [11] - The company is preparing for potential approval of four key products in 2025, despite some delays [14] - Management noted that the vertically integrated business model positions the company well to mitigate impacts from trade policies [17] Other Important Information - The company plans to finance its expansion project with cash flow from operations and intends to continue stock buybacks [31] - Research and development expenditures decreased by 11% in Q4 2024, primarily due to lower spending on clinical trials [24] Q&A Session Summary Question: Outlook on Primatene MIST and glucagon for 2025 - Management expects high single-digit sales growth for Primatene MIST and anticipates unit volume drops for glucagon due to increased competition [34] Question: Preparedness for upcoming GDUFA dates - Management indicated that they may not be ready to launch new products until the quarter following their approval [37] Question: Impact of MannKind collaboration on BAQSIMI - The collaboration is expected to significantly increase the sales force, enhancing market coverage and potentially accelerating sales growth [56] Question: Competitive overview of epinephrine - The company remains the only player in the prefilled syringe market, while competition in the multi-dose vial segment has increased [58]

Financial Data and Key Metrics Changes - Product revenue for Q4 was $943 million, representing a 28% year-over-year increase [11] - Remaining performance obligations totaled $6.9 billion, with a year-over-year growth of 33% [12] - Net revenue retention was reported at 126% [12] - Non-GAAP operating margin increased to 9% in Q4, while non-GAAP adjusted free cash flow margin was 43% [12][37] - For FY '25, product revenue grew 30% year-over-year to reach $3.5 billion [32] Business Line Data and Key Metrics Changes - New products, particularly Snowpark, contributed 3% of FY '25 product revenues, indicating strong adoption of new data engineering and AI features [32] - Technology customers outperformed, while financial services remained the top vertical [33] Market Data and Key Metrics Changes - EMEA was identified as a source of strength in Q4 [33] - Several large customers ran out of capacity before their contract end date, indicating strong consumption patterns [34] Company Strategy and Development Direction - The company aims to deliver the world's best end-to-end data platform powered by AI, focusing on operational rigor and efficiency while investing in growth [9][10] - The company is expanding its product offerings, including new connectors and capabilities for data integration and collaboration [27] - The focus on AI and machine learning is expected to drive future growth, with over 4,000 customers using AI and ML technology weekly [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong core business and the potential for new product features to contribute to growth in the second half of FY '26 [40][41] - The company anticipates stable growth within its core business, with new product features expected to enhance year-over-year growth rates [40] Other Important Information - The company plans to host an Investor Day in conjunction with its Summit conference in June 2026 [42] - The CFO announced plans to retire once a successor is in place, indicating a transition in leadership [44] Q&A Session Summary Question: Insights on large customers exhausting commitments - Management expects large customers to sign new commitments after exhausting their capacity, which is a common occurrence [50][52] Question: Adoption trends within the data engineering portfolio - Management noted robust adoption of technologies like Snowpark and emphasized the importance of new product features in driving customer engagement [56][58] Question: Interpretation of recent partnerships in the data space - Management highlighted the importance of partnerships with companies like ServiceNow and Salesforce, emphasizing the value of data integration and customer choice [67][72] Question: Adjacent opportunities for the company's offerings - Management acknowledged the significance of streaming and ingestion as critical areas for investment and development [82][84] Question: Guidance for the upcoming year - Management expressed confidence in the guidance provided, indicating that it reflects a thoughtful approach to revenue expectations [88][130]

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 September 30, 2021 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. 001-31720 PIPER SANDLER COMPANIES (Exact Name of Registrant as specified in its Charter) (State or Other Jurisdiction of Incorporat ...

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, 2021 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. 001-31720 PIPER SANDLER COMPANIES (Exact Name of Registrant as specified in its Charter) (State or Other Jurisdiction of Incorporation o ...