Core Insights - Xanadu Quantum Technologies Inc. has appointed Michael Trzupek as Chief Financial Officer and Natalie Wilmore as Chief Legal Officer to enhance its leadership team as it aims to build accessible quantum computers [1][2][3] Leadership Appointments - Michael Trzupek brings extensive experience in financial and operational roles from companies like Intel, Microsoft, and Core Scientific, focusing on scaling organizations and strengthening balance sheets [2][3] - Natalie Wilmore has a background in legal matters for high-growth public companies, previously serving at Pagaya Technologies, and specializes in corporate governance, securities laws, and M&A [3][4] Business Combination - Xanadu has announced a business combination with Crane Harbor Acquisition Corp., which is expected to result in approximately US$500 million in gross proceeds, including US$225 million from Crane Harbor's trust account and US$275 million from strategic investors [4] - The combined entity, Xanadu Quantum Technologies Limited, is anticipated to be listed on the Nasdaq Stock Market and the Toronto Stock Exchange [4] Company Overview - Founded in 2016, Xanadu is a Canadian quantum computing company focused on creating quantum computers that are useful and accessible to a broad audience [6]

Flutter Entertainment (FLUT) came out with quarterly earnings of $1.59 per share, beating the Zacks Consensus Estimate of $1.54 per share. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.25%. A quarter ago, it was expected that this online gambling company would post earnings of $1.56 per share when it actually produced earnings of $2.94, delivering a surprise of 88.46%.Over the last four q ...

Financial Data and Key Metrics Changes - Revenue for Q4 2024 was $20 million, down 17% sequentially and down 35% year over year [25] - Adjusted EBITDA loss in Q4 was $19 million, with a full-year adjusted EBITDA loss of $63 million compared to $69 million in 2023 [28] - Net loss for Q4 was $26 million, an improvement from a net loss of $60 million in Q4 2023 [27] - Cash at the end of the year was $282 million, consisting of $272 million in cash and cash equivalents and $10 million in restricted cash [28] Business Line Data and Key Metrics Changes - Paying MAU in Q4 was 110,000, down from 121,000 in Q3, but increased to 123,000 by the end of February [20] - Paid user conversion rate was 14.6% in Q4, up from 14.3% in Q3 [25] - User acquisition (UA) marketing spend was $5 million, while engagement marketing was $10 million in Q4 [26] Market Data and Key Metrics Changes - The company is actively pursuing legal actions against competitors using deceptive practices, which it believes defraud players of billions [10][12] - Class action lawsuits have been filed against Avia Games and Papaya Gaming, indicating ongoing market challenges [12] Company Strategy and Development Direction - The company is focusing on four key pillars to return to consistent top-line growth and positive adjusted EBITDA, including enhancing the platform, up-leveling the organization, optimizing go-to-market strategies, and demonstrating a clear path to profitability [15][22] - A $75 million developer accelerator program has been announced to support game developers and expand offerings on the platform [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in competing against other skill-based gaming providers without engaging in deceptive practices [14] - The company is focused on improving consumer and developer engagement and retention through its platform enhancements [16] Other Important Information - The company expects to receive $7.5 million from Avia Games as part of a settlement, which is the first of four annual payments [29] - Total principal due on outstanding debt at the end of Q4 was $129.7 million [29] Q&A Session Summary - There were no questions registered during the Q&A session, leading to the conclusion of the conference call [31]