Financial Data and Key Metrics Changes - Revenues for Q2 2025 were $61.1 million, an increase of 1.3% compared to $60.3 million in Q2 2024 [8] - GAAP gross margin for the quarter was 64.1%, down from 65.5% in Q2 2024 [10] - Non-GAAP net income for Q2 was $4.1 million or $0.14 per diluted share, compared to $5.5 million or $0.18 per diluted share in Q2 2024 [12] - Net cash provided by operating activities was $7.7 million for the quarter [12] Business Line Data and Key Metrics Changes - Services revenues for Q2 were $32.6 million, up 1.9% year over year, accounting for 53.3% of total revenues [9][17] - Life Managed Services grew 25% year over year, reaching $70 million in annual recurring revenues [18] - Non-GAAP operating income for Q2 was $4.4 million or 7.2% of revenues, down from $7.2 million or 11.9% of revenues in Q2 2024 [11] Market Data and Key Metrics Changes - Revenue by geographical region: North America 48%, EMEA 34%, Asia Pacific 14%, Central and Latin America 4% [9] - Microsoft Teams business grew 6.5% year over year, contributing significantly to enterprise UC and CX revenue [16][27] Company Strategy and Development Direction - The company is transitioning to an AI-driven hybrid cloud software and services model, focusing on connectivity and AI-powered business applications [15][41] - The launch of the next-generation live platform aims to enhance managed services and integrate AI capabilities [18][19] - The company plans to increase marketing and sales efforts in the Webex Calling space following recent certifications [32] Management's Comments on Operating Environment and Future Outlook - Management noted that despite tariff challenges, customer purchasing behavior remains stable, and the pipeline for opportunities is strong [25][26] - The company will postpone issuing a financial outlook until there is better clarity on tariff rates [25] - Management expressed confidence in the growth trajectory of the business, particularly in the UCaaS and CX markets [41] Other Important Information - The company declared a cash dividend of $0.20 per share, totaling approximately $5.7 million, to be paid on August 28, 2025 [13] - The company expects $3 to $4 million in tariff-related costs for the full year 2025 [23] Q&A Session Summary Question: What are you seeing in terms of customer demand for virtual SBCs versus physical hardware following the tariffs? - Management indicated that there has been no significant impact on business decisions regarding SBCs, and they have raised prices to protect margins [44][45] Question: Can you provide more color on the strength of the Microsoft business? - Management highlighted that the growth is driven by a dominant market share in Teams Phone and successful large contract signings [48][49] Question: What is the pipeline for WebEx opportunities? - Management stated that they are early in the process with several opportunities but do not expect significant revenue impact until 2026 [52][53] Question: Did you disclose the second quarter growth rate for conversational AI? - Management did not disclose specific growth rates but expects substantial growth in the second half of the year [57][58] Question: How does AudioCodes differentiate itself in the conversational AI market? - Management emphasized their focus on end-to-end applications and the ability to deploy solutions quickly due to their extensive infrastructure [60][62]

Financial Data and Key Metrics Changes - In Q2 2025, Spotify's Monthly Active Users (MAU) grew by 18 million to 696 million, exceeding guidance by 7 million [24] - The company added 8 million net subscribers, reaching a total of 276 million, which is a 12% year-on-year increase and SEK 3 million ahead of guidance [24] - Total revenue for the quarter was SEK 4.2 billion, reflecting a 15% year-on-year growth on a constant currency basis [24] - Premium revenue rose 16% year-on-year on a constant currency basis, driven by subscriber growth and Average Revenue Per User (ARPU) gains [25] - Gross margin was reported at 31.5%, in line with guidance, expanding approximately 230 basis points year-on-year [26] Business Line Data and Key Metrics Changes - The advertising business delivered currency-neutral growth of 5% year-on-year, with automated sales channels being the largest contributor [25] - The conversion rate from free to paid users continues to improve, indicating healthy growth in subscriber acquisition [14] - Video content consumption is growing 20 times faster than audio-only consumption since 2024, with over 350 million users streaming video podcasts [18] Market Data and Key Metrics Changes - Spotify holds a 45% market share in music streaming services, excluding China and Russia, which has been steadily growing [18] - The company has seen a 65% increase year-on-year in users streaming video podcasts [18] Company Strategy and Development Direction - Spotify aims to reach 1 billion subscribers, focusing on creating lifetime value rather than optimizing for short-term performance [10][11] - The company is recalibrating its advertising strategy to accelerate growth, with a focus on improving execution and enhancing ad technology [15][16] - Spotify is expanding its offerings across music, podcasts, and audiobooks, indicating a multi-format strategy that is yielding positive results [17][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's fundamentals and user engagement, despite some challenges in the advertising segment [9][7] - The company anticipates that 2025 will be a standout year, with ongoing investments in innovation to enhance user and creator value [10][31] - Management acknowledged that while the advertising business has not met expectations, they remain optimistic about future improvements [7][15] Other Important Information - The company ended the quarter with DKK 8.4 billion in cash and short-term investments, indicating strong liquidity [29] - Spotify plans to utilize its share repurchase authorization of $2 billion to enhance financial flexibility [32] Q&A Session Summary Question: Update on introducing tiers or a tier for super fans - Management is excited about engaging super fans and is working on building products that cater to them, including an audiobook add-on subscription rolled out in 13 markets [35][37] Question: Change in gross margin guidance philosophy - Management clarified that there has been no change in guidance philosophy, and they aim to increase gross margins over time through various monetization strategies [39][41] Question: Influence of generative AI on productivity and product development - Generative AI is significantly speeding up prototyping and product delivery, allowing for more interactive consumer experiences [43][46] Question: Capital allocation and share buyback execution - The primary focus remains on growth opportunities, with share buybacks seen as a tool for flexibility [51][52] Question: Implied FX neutral ARPU trends for Q3 - Management expects ARPU to be flat year-on-year on a constant currency basis, with variations driven by market dynamics [54][56] Question: Investments in the business and engagement metrics - Management emphasized the importance of lifetime value metrics and the potential for monetization through various channels, including premium subscriptions and advertising [79][82] Question: Impact of podcasting business model changes on advertising growth - Changes in the podcasting model have impacted advertising growth, but underlying growth remains positive [70][72] Question: Key drivers of gross margin expansion after 2025 - Future gross margin expansion is expected to come from advertising growth, marketplace monetization, and new product offerings [73][74]

Financial Data and Key Metrics Changes - In Q2 2025, Spotify's Monthly Active Users (MAU) grew by 18 million to 696 million, exceeding guidance by 7 million [24] - The company added 8 million net subscribers, reaching a total of 276 million, which is a 12% year-on-year increase [24] - Total revenue for the quarter was SEK 4.2 billion, reflecting a 15% year-on-year growth on a constant currency basis [24] - Premium revenue rose 16% year-on-year on a constant currency basis, driven by subscriber growth and Average Revenue Per User (ARPU) gains [25] - Gross margin was reported at 31.5%, expanding approximately 230 basis points year-on-year [26] Business Line Data and Key Metrics Changes - The advertising business delivered currency-neutral growth of 5% year-on-year, with automated sales channels being the largest contributor [25] - The conversion rate from free to paid users continues to improve, indicating healthy growth opportunities even in mature markets [14] - Video content consumption is growing 20 times faster than audio-only consumption since 2024, with over 350 million users streaming video podcasts [18] Market Data and Key Metrics Changes - Spotify holds a 45% market share in music streaming services, excluding China and Russia, which has been steadily growing [18] - The company has seen a 65% increase year-on-year in users streaming video podcasts [18] Company Strategy and Development Direction - Spotify aims to reach a billion subscribers, focusing on creating lifetime value rather than optimizing for short-term performance [10] - The company is recalibrating its advertising strategy to accelerate its contribution to financials, with a focus on improving execution and launching new tools for advertisers [15] - The multi-format strategy is proving effective, as engagement increases with the variety of content offered [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's fundamentals and the expected standout year for 2025, despite some areas not meeting expectations [9] - The company is optimistic about the potential of its advertising business and is working to enhance its execution [15] - Management acknowledged the need for faster progress in the advertising sector and indicated that leadership changes were made to facilitate this [78] Other Important Information - The company ended the quarter with SEK 8.4 billion in cash and short-term investments [28] - Spotify has approved an upsizing of its share repurchase authorization to $2 billion, with about $100 million utilized prior to Q2 [32] Q&A Session All Questions and Answers Question: Update on introducing tiers or a tier for super fans - Spotify is building products for super fans and has rolled out an audiobook add-on subscription in 13 markets, with plans for further expansion [36] Question: Change in gross margin guidance - The company maintains its philosophy on guidance and expects to increase gross margins over time through various monetization strategies [39] Question: Influence of generative AI on productivity and product development - Generative AI is enhancing productivity through faster prototyping and is expected to significantly improve consumer experiences by allowing more interactive engagement [43][48] Question: Capital allocation and share buyback execution - The primary focus remains on growth opportunities, with share buybacks seen as a tool for flexibility [52] Question: Implied FX neutral ARPU trends for Q3 - ARPU is expected to be flat year-on-year on a constant currency basis, with variations driven by market dynamics [55] Question: Investments in the business across verticals - Spotify sees enormous runway for growth across music, video, and audiobooks, with a focus on long-term value creation [60] Question: Pricing strategy in developed markets - The company emphasizes the value-to-price ratio and will adjust pricing when appropriate, maintaining a focus on subscriber growth [98]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights into sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

>> All right welcome back everybody. Morning results are out this morning beating expectations on both the top and the bottom line. You can see that stock is up by about 4% right now.In fact if you look over the last year it's up by more than 30%. You got to add this morning's gain to that as well. Joining us right now is Wendell Weeks.He's Corning CEO. And Wendell welcome. It's great to see you this morning.Let's go back and set this a little bit in perspective. Because you first came on with us about a ye ...

quarter just this morning down under 53. >> And new this morning French AI company announcing that it now has a partnership with global tech services company NTT data. Joining us right now in an exclusive interview this morning is Mr.. Co-founder and CEO Arthur Mensch. NTT data CEO Abhijit Dubey. Good morning to both of you.I'll start with you Arthur. What does this mean. And what does this partnership even look like.Where you may be muted. >> Sorry. >> Maybe mic is coming back.Yeah. How you doing, Arthur. ...

Core Viewpoint - Latent Labs has developed a groundbreaking generative AI model, Latent-X, which enables the design of functional protein binders with atomic-level precision, significantly improving the drug discovery process [6][7][26]. Group 1: Company Background - Simon Kohl, a former researcher at DeepMind, founded Latent Labs after leaving the company in late 2022, focusing on advanced protein design models to aid biopharmaceutical companies [2]. - Latent Labs secured $50 million in funding in February 2025 to further its mission in drug development [2]. Group 2: Technology and Innovation - Latent-X can design functional protein binders, including macrocyclic peptides and small protein binders, with unprecedented efficiency and accuracy [6][7]. - The model generates reliable protein binders by solving geometric challenges at the atomic level, producing high-affinity and specificity binders [7][20]. - Latent-X demonstrated a significant improvement in efficiency, requiring only 30-100 candidates per target to achieve results that typically need millions of candidates [7][18]. Group 3: Performance Validation - The research team tested Latent-X on seven benchmark target proteins related to viral infections, tumor regulation, and neurodegeneration [11][12]. - Latent-X achieved a hit rate of 91%-100% for macrocyclic peptides and 10%-64% for small protein binders across the target proteins [18]. - The best-designed macrocyclic peptides reached micromolar affinity, while small protein binders achieved picomolar affinity, surpassing other design models [19]. Group 4: Features and Usability - Latent-X allows users to generate both protein sequences and structures simultaneously, outperforming previous methods that generated them sequentially [23]. - The platform is user-friendly, requiring no coding skills, and provides a complete workflow for laboratory validation [21][29]. - Latent-X is scalable and has successfully generated various therapeutic binders, with plans for further expansion [22]. Group 5: Competitive Advantage - Latent-X excels in generating binders for previously unseen targets, achieving higher simulation hit rates with fewer samples compared to other models [24][28]. - The model adheres to atomic-level biochemical rules, creating structures that are chemically viable and suitable for drug development [28].

July 28, 2025 12:25 PM GMT Mid Small Cap/Manufacturer | Japan Summer 2025 Investment Strategy for Semi Materials Earnings at gen AI related semiconductor and packaging materials firms look strong. However, excluding price revisions, we can't expect rapid earnings growth for materials companies, which rely on actual demand; careful trading around results is necessary to improve performance. We highlight Fuso Chemical (mid/long-term sales growth, lower amortization expense). Key Takeaways Share price outlook ...

Core Viewpoint - Tempus AI, Inc. is facing a class action lawsuit due to allegations of misleading statements and undisclosed material information during the specified Class Period, which has led to significant investor losses [1][3][4]. Group 1: Allegations Against Tempus AI - The lawsuit claims that Tempus AI inflated the value of certain contract agreements, many of which involved related parties and were non-binding or self-funded [3]. - It is alleged that the joint venture with SoftBank Group Corporation raised credibility concerns due to the appearance of "round-tripping" capital to artificially inflate revenue [3]. - The acquisition of Ambry Genetics Corporation is said to have operated under a business model that relied on aggressive and potentially unethical billing practices, exposing it to regulatory and financial risks [3]. - AstraZeneca PLC reportedly reduced its financial support to Tempus AI through a questionable "pass-through payment" structure involving a joint agreement with Pathos AI, Inc. [3]. - These issues are indicative of broader weaknesses in Tempus AI's core operations and long-term revenue outlook [3]. Group 2: Impact of Research Report - On May 28, 2025, Spruce Point Capital Management, LLC published a research report that raised serious concerns regarding Tempus AI's management, operations, and financial disclosures [4]. - Following the release of this report, Tempus AI's stock price experienced a decline of over 19% [4].

Market Conditions & IPOs - VC 支持的 IPO 正在出现，部分原因是过去一年满足了三个条件 [1] - 利率趋于稳定，美联储暗示将停止加息并可能降息 [2] - 公开市场相对稳定，VIX 指数接近 12 个月低点 [2] - Circle、Core、eToro 和 Armada Health 等公司在公开市场表现良好 [3] Investment Strategy & Metrics - 投资目标是寻找下一代伟大的上市公司，并在它们还是私有公司时进行投资 [8] - 公司推迟 IPO 上市，投资公司可以帮助这些公司从伟大的私有公司转变为伟大的上市公司 [9] - 关注具有持久性和防御能力的公司，即在未来 5-10 年内可持续发展且不易被复制的公司 [12] - 企业软件如何从 AI 中受益并真正利用 AI 是一个关键的观察点 [13] AI Impact - AI 正在以前所未有的速度推动收入增长 [10] - Anthropic 这样的公司在模型领域的 ARR 据传在六个月内从 10 亿美元增长到 40 亿美元 [11] - 受益于 AI 的高知名度公司，如 Figma，其定价预期将继续提高 [7]