Group 1 - The article discusses the positions of various analysts regarding specific stocks, indicating that Anand Chokkavelu, Karl Thiel, and Keith Speights do not hold any positions in the mentioned stocks [1] - The Motley Fool has positions in and recommends Guardant Health, highlighting its investment interest in this company [1]

Innventure (INV) Q1 2025 Earnings Call May 15, 2025 05:00 PM ET Company Participants Lucas Harper - Chief Investment OfficerBill Haskell - CEO, Director & Board MemberDino Foderaro - Chief Revenue OfficerDave Yablunosky - CFO, Director & Board MemberNehal Chokshi - Managing Director Conference Call Participants Chip Moore - Managing Director & Senior Research Analyst Operator Hello, and welcome to InVenture First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a li ...

Financial Data and Key Metrics Changes - The first quarter revenue was $200 million, primarily from management fees related to the InVentus ESG fund, aligning with expectations and previous communications about revenue growth being weighted towards the second half of the year [38] - General and administrative expenses were approximately $20 million, with significant components including non-cash equity-based compensation and professional service fees [39] - A non-cash goodwill adjustment of $233 million was recorded due to a decrease in the company's share price and market capitalization [40] - EBITDA for the quarter was a loss of approximately $248 million, with adjusted EBITDA reflecting a loss of $21.8 million [41] Business Line Data and Key Metrics Changes - Excelsius is positioned at the forefront of the two-phase direct-to-chip liquid cooling market, which is expected to grow significantly due to increasing data center budgets driven by AI and evolving chip technology [10][15] - The current liquid cooling market is estimated at $1.3 billion, growing at an annual rate of approximately 30%, projected to reach $5 billion by 2028 [14][15] Market Data and Key Metrics Changes - Worldwide data center spending was approximately $450 billion in 2024, expected to exceed $1 trillion by 2029, creating a favorable environment for critical infrastructure providers like Excelsius [10] - The overwhelming majority of data centers still use inefficient air-cooled solutions, with single-phase water cooling technologies representing only a small percentage of installations [10] Company Strategy and Development Direction - The company aims to build enterprises that can achieve a minimum of $1 billion in enterprise value, with Excelsius being a key focus due to its market potential [6] - Excelsius is developing relationships with hyperscalers, multinational OEMs, global resellers, and AI as a service providers to drive growth [21][29] - The company is focused on enhancing its manufacturing capacity and partnerships with global contract manufacturers to meet anticipated market demands [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that 2025 will represent an inflection point for revenue growth at Excelsius, driven by significant demand from large global players [37] - The company is optimistic about the future, citing a substantial increase in lead generation and engagement with potential customers since February [70][72] Other Important Information - The company has seen a notable increase in its strategic partner network, growing by nearly 200% since the start of 2025, indicating strong market interest [29] - The average proposal size has increased significantly, reflecting a shift towards full-scale production opportunities [30] Q&A Session Summary Question: What drove the white label agreement with the OEM? - The relationship was driven by overall market demand, not solely by hyperscaler engagement [47][49] Question: Will the potential inflection point be served largely through the white label agreement? - The company expects some volume from those agreements but emphasizes a broader pool of engaged customers [54][56] Question: Can you comment on the pros and cons of flow versus pool-based cooling? - Flow-based cooling offers more reliability and excess fluid availability compared to pool boiling, which can lead to operational issues [61][63] Question: Will NVIDIA mitigate hotspots in the next generation architecture? - The response was cautious due to non-disclosure agreements [65] Question: Can you discuss the increase in lead generation and fulfillment capabilities? - There has been a significant spike in activity since late February, with a paradigm shift in conversations towards deployment of two-phase cooling solutions [70][72]

Core Insights - Supermicro, Inc. has introduced Data Center Building Block Solutions (DCBBS) to simplify the construction of liquid-cooled AI data centers, addressing the complexities of infrastructure components [1][2] - DCBBS allows for rapid deployment, with the potential to go online in as little as three months, while also providing comprehensive design and support services [2][11] - The solution is designed to meet the increasing demands of AI workloads, offering customizable options at various levels of data center architecture [4][6] Group 1: Product Features and Benefits - DCBBS offers pre-validated scalable units, including a 256-node AI Factory unit, which streamlines data center design and reduces time and costs associated with buildouts [2][4] - The solution can lead to significant operational efficiencies, including up to 40% power savings, a 60% reduction in data center footprint, and a 40% decrease in water consumption, resulting in a 20% lower total cost of ownership (TCO) [3][4] - Supermicro's modular approach allows for extensive customization at the system, rack, and data center levels, enabling tailored solutions for specific workloads [6][7] Group 2: Technological Advancements - The DCBBS incorporates Supermicro's DLC-2 technology, which is expected to increase the market share of liquid-cooled data centers from less than 1% to 30% within a year, enhancing heat removal efficiency [9][10] - The liquid cooling system captures heat directly from high-performance components, achieving up to 98% heat capture efficiency and providing substantial power savings compared to traditional air cooling [10] - Supermicro's infrastructure management capabilities, including the SuperCloud Composer®, facilitate the management of compute, storage, and network resources at cloud scale [12][13] Group 3: Service and Support - Supermicro provides a complete suite of services, including data center design, solution validation, and professional on-site deployment, ensuring quick time-to-market and ongoing support [11][13] - The company offers tailored project proposals based on customer requirements, optimizing for power budgets and performance targets [8] - A 4-hour onsite response time option is available for mission-critical operations, enhancing reliability and uptime [11]

市场洞察 - Marquee --- Market Insights - Marquee Market Insights | Markets | Equities 市场洞察 | 市场 | 股票 GS Flow of Funds: Pulse Check ⾼盛资⾦流动：脉搏检查 Gail Hafif Gail.Hafif@gs.com | Brian Garrett Brian.Garrett@gs.com | Lee Coppersmith Lee.Coppersmith@gs.com Not Zac Efron, but the VIX was 17 Again. 不是扎克 · 埃夫隆，但 VIX ⼜回到了 17 。 and add exposure? Sure you don't remember learning that one in school but still true nonetheless. April Showers bring May vol collapse i.e. opportunities to roll hedges 四⽉的阵⾬带来五⽉的波动率崩溃，也就是对冲滚动和增加敞⼝的 ...

Summary of Guardant Health (GH) 2025 Conference Call Company Overview - **Company**: Guardant Health (GH) - **Event**: 2025 Conference on May 14, 2025 - **Speakers**: Helmio Touki (Chairman, Co-Founder, CEO), Amir Aliy Talasaz (Co-Founder, Co-CEO), Mike Bell (CFO) Key Points Industry and Product Performance - **Shield Test**: - 9,000 tests conducted in Q1, exceeding expectations [5] - Volume guidance raised to 52,000 - 58,000 tests for the year, indicating strong launch performance [7][9] - Anticipated revenue of $40 million to $45 million from Shield, potentially one of the largest diagnostic launches [9] - Cost per test reduced from over $1,000 to below $600, with a goal of reaching $200 per test by achieving higher volumes [15][17] - **Shield V2**: - New algorithm developed to improve sensitivity for colorectal cancer detection [19] - Expected FDA submission and potential approval by year-end [20] - **REVEAL Test**: - Positive reimbursement decision for colorectal cancer surveillance, leading to increased volumes [25] - Transitioned from gross margin negative to positive, with ASP over $600 and COGS around $500 [30][31] - **Guardant360 (G360)**: - ASP increased from $2,700 to $3,100, with further growth potential through payer negotiations [41] - Significant growth driven by the launch of a smart liquid biopsy platform [39] Financial Guidance and Profitability - **Financial Outlook**: - Screening business expected to incur a net burn of $200 million over the next two years, with a path to breakeven by 2028 [61][63] - Other segments, including therapy selection and biopharma, are already profitable, contributing to overall financial health [62] Market Position and Strategy - **Comprehensive Portfolio**: - Guardant is positioned uniquely with offerings across screening, MRD, and treatment selection, differentiating itself from competitors [65] - Anticipated integration of services to simplify the ordering process for oncologists [54] - **Future Growth**: - Plans to expand sales force to 700 representatives to enhance nationwide coverage [13] - Continuous investment in automation and workflow efficiencies to further reduce costs [16] Additional Insights - **Multi-Cancer Detection**: - Shield designed as a multi-cancer detection platform, with potential to expand indications beyond colorectal cancer [21] - Selected by the National Cancer Institute for a multi-cancer detection trial [22] - **Clinical Utility and Research**: - Ongoing studies and trials expected to provide additional data readouts, enhancing the clinical utility of tests [35] This summary encapsulates the key insights and developments discussed during the Guardant Health conference call, highlighting the company's strategic direction, product performance, and financial outlook.

Investcorp Credit Management BDC (ICMB) Q3 2025 Earnings Call May 14, 2025 10:00 AM ET Speaker0 Good morning, ladies and gentlemen, and welcome to today's Investcorp Credit Management BDC's quarter ended 03/31/2025 earnings call. It is now my pleasure to turn the Speaker1 floor over to Walter Tin, CFO. Speaker0 Thank you, operator. Welcome everyone to Investcorp Credit Management, BEC's quarter ended 03/31/2025 earnings call. I am joined by Suhail Chape, President, Executive Chief Executive Officer of the c ...

Core Insights - Super Micro Computer, Inc. (SMCI) has announced advancements in its Direct Liquid Cooling (DLC) solution, which significantly enhances cooling efficiency for AI and data center applications [1][2][3] Group 1: Technology Improvements - The new DLC-2 solution can reduce data center power consumption by up to 40% compared to traditional air-cooled systems [1][2] - The solution allows for higher liquid inflow temperatures, accommodating up to 45°C, which eliminates the need for chilled water and reduces water consumption by up to 40% [5][7] - The design includes comprehensive cold plate coverage for various components, which lowers fan speeds and reduces noise levels to approximately 50dB [1][7] Group 2: Cost Efficiency - The total cost of ownership for data centers utilizing the DLC-2 solution can decrease by up to 20% [1][2] - The innovative design and efficient liquid circulation enable faster deployment and reduced time-to-online for AI infrastructure [1][7] Group 3: System Specifications - The new architecture features a GPU-optimized server that includes eight NVIDIA Blackwell GPUs and two Intel® Xeon® 6 CPUs within a compact 4U rack height [3] - The in-rack Coolant Distribution Unit (CDU) can remove up to 250kW of heat per rack, enhancing overall cooling capacity [4] Group 4: Market Positioning - Supermicro aims to make liquid cooling more accessible, targeting a market where liquid-cooled data centers are expected to account for 30% of all installations [2][6] - The company provides a comprehensive suite of solutions, including liquid-cooling technologies, networking, and data center management software [7][9]

Summary of Jabil (JBL) FY Conference Call - May 13, 2025 Company Overview - **Company**: Jabil (JBL) - **Industry**: Electronics Manufacturing Services (EMS) Key Points and Arguments Macro Economic Concerns - There is a sense of relief among customers regarding recession fears, with the administration's efforts seen as effective in preventing a significant downturn [3][5][6] - Jabil's diversified portfolio across various end markets, including healthcare and digital commerce, positions the company well to manage through economic fluctuations [4][5] Supply Chain and Tariff Management - Jabil has regionalized its supply chain, producing in-country for local consumption, which mitigates risks associated with tariff volatility [7][8] - The company is not currently seeing significant shifts in business due to tariffs, as customers are cautious about the costs and risks of relocating operations [8] Capacity and Geographic Flexibility - Approximately 35% to 40% of Jabil's capacity is located in the Americas, with current utilization around 75-80%, indicating room for growth [16][18] - The company has recently opened a facility in St. Petersburg, Florida, and has the capability to expand in the U.S. and Mexico as needed [16][18] Margin Improvement Strategies - Jabil aims to increase its margin from 5.4% to 6% or 6.5% in the near future, driven by portfolio diversification, vertical integration, and operational efficiencies [22][23][24] - The company is focusing on higher-margin businesses and has made tuck-in acquisitions to enhance its service offerings [24][25] Growth in Cloud and Data Center Infrastructure - Jabil has increased its revenue guidance for the second half of the fiscal year by $1 billion, driven by strong demand from hyperscale customers and capital equipment business [28] - The company is confident in continued spending from cloud customers, viewing it as an "arms race" among hyperscalers [28][29] Automotive Sector Challenges - The automotive segment faces headwinds from tariffs and reduced demand for electric vehicles (EVs), but Jabil is diversifying its customer base and product offerings to mitigate risks [44][45] - The company has added new OEM customers in China, which is expected to provide growth opportunities in the EV space [46][48] Healthcare Market Opportunities - Jabil is significantly larger than its nearest competitor in the healthcare market and is focused on expanding its share of wallet through organic growth and acquisitions [56][57] - The company recently acquired Pharmaceutical International Incorporated, enhancing its capabilities in pharmaceutical delivery systems [58] Semiconductor Capital Equipment - Jabil's semiconductor capital equipment business is performing well, with strong growth driven by key customers like NVIDIA [62] - The company anticipates a cyclical recovery in the semiconductor industry within the next twelve months [63] Networking and Communications - The networking segment is experiencing slower growth due to exiting low-margin businesses, but there are positive trends in Ethernet and liquid cooling technologies [65][66] Digital Commerce Growth - Jabil is seeing growth in digital commerce, particularly in automation and robotics for retail environments, with expectations for continued expansion in this area [67][68] Future Outlook - Jabil's path to achieving higher margins is not solely dependent on revenue growth but also on optimizing product mix and operational efficiencies [69][70] - The company is well-positioned for future growth across various sectors, including healthcare, cloud infrastructure, and automotive, despite current economic challenges [49][50][56]

Financial Data and Key Metrics Changes - Consolidated net revenue was approximately $92.2 million, down 11.7% year over year [10] - Adjusted EBITDA was approximately $12.9 million, down 42.2% [15] - Net loss was approximately $11.7 million or $0.26 per share, compared to net income of $7.5 million or $0.15 per share for the same quarter last year [17] Business Line Data and Key Metrics Changes - Radio Broadcasting segment net revenue was $32.6 million, a decrease of 10.3% year over year [10] - Media segment net revenue was $5.9 million, down 30.9% from the prior year, with an adjusted EBITDA loss of $600,000 [12] - Cable Television segment revenue was $44.2 million, a decrease of 7.9%, with advertising revenue down 6.3% [13] Market Data and Key Metrics Changes - Local ad sales were down 12.8% against markets that were down 13.2% [10] - National ad sales were down 14.6% against markets being down 11.6% [10] - Cable subscribers for TV One decreased to 35.6 million from 37.2 million at the end of Q4 [13] Company Strategy and Development Direction - The company is focused on cost controls, managing leverage, and maintaining a strong liquidity position [6][8] - Plans to invest in new distribution opportunities in the FAST and AVOD environment rather than just increasing content spending [81] - The company aims to improve local digital efforts, which currently contribute low single digits to revenue compared to competitors [58] Management's Comments on Operating Environment and Future Outlook - Management indicated that radio pacing has weakened, down about 9% [5] - The expectation is that the majority of EBITDA will come in the second half of 2025, with Q2 expected to be similarly weak as Q1 [28][31] - Management does not foresee a positive rebound in advertising this year due to ongoing uncertainties [45] Other Important Information - The company repurchased $28.2 million of its 2028 notes at an average price of 58% of par [16] - Total gross debt was approximately $556.3 million, with unrestricted cash of $115.1 million, resulting in a net debt of approximately $441.3 million [18] Q&A Session Summary Question: What other levers can be pulled to control costs? - Management mentioned ongoing cost-cutting measures and plans to identify further opportunities by mid-year [23][24] Question: Is the majority of EBITDA expected in the second half of 2025? - Yes, more than half is expected to come in the second half of the year [28][29] Question: Should further debt repurchases be expected? - Management indicated a deliberate and opportunistic approach to debt repurchases, suggesting that they will continue as conditions allow [32][34] Question: How is the local SMB advertising environment compared to national? - Local advertising is down low single digits, which is better than national advertising, which is experiencing more significant declines [51][53] Question: Can you break out cable TV revenue between carriage fees and advertising? - Management confirmed that this information is available in the press release [65] Question: What is the renewal schedule with large cable and MVPDs? - Charter, Verizon, and NCTC contracts are up this year, with Comcast and AT&T renewals next year [68][70] Question: How are TV One ratings performing? - Ratings have stabilized and are exceeding budgeted numbers year to date [73] Question: Is programming spend steady or growing? - Programming spend is down about 10%, with no major plans to increase it significantly [75][79]