Core Viewpoint - Abercrombie & Fitch Co. reported record first quarter net sales of $1.1 billion, reflecting an 8% increase compared to the previous year, driven by broad-based growth across regions, particularly from Hollister brands which saw a 22% increase in sales [2][5][6] Financial Performance - Net sales for the first quarter ended May 3, 2025, were $1,097,311,000, up from $1,020,730,000 in the same quarter of 2024, marking an 8% increase [4][6][7] - Operating income decreased to $101,533,000, down from $129,849,000 year-over-year, resulting in an operating margin of 9.3%, down from 12.7% [6][24] - Net income attributable to Abercrombie & Fitch was $80,413,000, compared to $113,850,000 in the prior year, with diluted earnings per share at $1.59, down from $2.14 [6][24] Segment Performance - Net sales by segment showed the following growth: Americas up 7% to $874,804,000, EMEA up 12% to $185,036,000, and APAC up 5% to $37,471,000 [4][5] - Brand performance indicated Hollister brands grew by 22% while Abercrombie brands saw a decline of 4% [2][5][7] Cash Flow and Capital Allocation - The company repurchased 2.6 million shares for approximately $200 million, representing a 5% reduction in shares outstanding [2][9] - As of May 3, 2025, the company had cash and equivalents of $511 million, down from $864 million a year prior, with total liquidity of approximately $940 million [11][9] Outlook - For the second quarter, the company expects net sales growth in the range of 3% to 5%, with an operating margin projected between 12% and 13% [12][17] - The full-year outlook anticipates net sales growth of 3% to 6% and net income per diluted share in the range of $9.50 to $10.50 [17]

Financial Data and Key Metrics Changes - Total revenues for Q1 2025 were $8,600,000, representing a 9% increase from the same period last year [5][12] - Net loss for Q1 2025 was $4,200,000 or $0.47 per share, compared to a net loss of $10,400,000 or $2.88 per share for the prior year [15] - Adjusted EBITDA decreased from $4,600,000 in Q1 2024 to $4,400,000 in Q1 2025 [15][16] Business Line Data and Key Metrics Changes - Ameluz sales increased by $500,000 due to a higher unit price and the launch of the RotoLED XL lamp, which generated $200,000 in sales [12] - Total operating expenses decreased to $13,100,000 in Q1 2025 from $13,400,000 in Q1 2024 [12][13] - Cost of revenues decreased by $900,000 or 22.1% compared to last year, attributed to a reduced cost structure under the Ameluz license [13] Market Data and Key Metrics Changes - The company achieved a significant milestone with the granting of a patent for a new formulation of Ameluz, providing protection until December 2043 [6][7] - The enrollment of the final patient in the Phase three clinical trial for Ameluz was announced, aiming to extend the label for treatment beyond the face and scalp [8] Company Strategy and Development Direction - The company aims to achieve record revenues in 2025 without increasing costs, supported by past investments and sales force effectiveness [5] - Future goals include expanding Ameluz's applications to treat superficial basal cell carcinoma and moderate to severe acne, addressing significant medical needs [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving breakeven as quickly as possible, highlighting improved gross profit and reduced operating expenses [11] - The company is committed to exploring additional applications for Ameluz beyond actinic keratosis, indicating a proactive approach to growth [9] Other Important Information - Cash and cash equivalents as of March 31, 2025, were $1,800,000, down from $5,900,000 as of December 31, 2024 [16] - Inventory on hand was $6,500,000 compared to $6,600,000 as of December 31, 2024 [16] Q&A Session Summary Question: How many LAMP units were sold in Q1 2025? - The company placed 18 XL lamps in Q1 2025 [19][20] Question: Is there any sales force attrition affecting expenses? - There has been some turnover, but the company is committed to reorganizing the team for efficiency [24] Question: What is the status of reimbursement for the three-tube indication? - The company has ensured that Medicare covers the three-tube indication, with no reported refusals from doctors [29]

Core Viewpoint - Ondas Holdings Inc. is conducting its Q1 2025 earnings conference call, indicating a focus on financial performance and strategic direction for the upcoming quarter [1]. Company Participants - The call features key executives including Eric Brock (Chairman, President, and CEO), Neil Laird (Interim CFO), Oshri Lugassy (Co-CEO, Autonomous Systems), and Markus Nottelmann (CEO, Ondas Networks) [1]. Conference Call Structure - The conference call is structured to allow participants to listen only, with an emphasis on forward-looking statements that may contain risks and uncertainties [2]. - The company has provided a reconciliation of non-GAAP financial measures to GAAP measures, highlighting the importance of these metrics for understanding business trends [3].

Financial Data and Key Metrics Changes - Total revenue for the first quarter of 2025 was $13.6 million, down $3.8 million or 22% year over year [11] - Gross profit decreased by $2.9 million or 25% to $8.8 million, with gross margin at 64.2% compared to 66.6% in the same quarter of the previous year [13][14] - Net loss attributable to stockholders was $12.4 million or $17.44 per share, compared to a net loss of $9.8 million or $16.91 per share in the first quarter of 2024 [15] - Adjusted EBITDA loss for the first quarter was $8.3 million, compared to a loss of $5.1 million in the prior year [15] - Cash and cash equivalents as of March 31, 2025, were $3.2 million, with total debt obligations reduced to approximately $35.5 million [16][17] Business Line Data and Key Metrics Changes - Systems revenue decreased by 25%, with a 25% decrease in lease systems revenue as well [12] - The percentage of total systems revenue from internal lease programs was approximately 25%, unchanged from the prior year [12] Market Data and Key Metrics Changes - International revenue decreased by 29%, while U.S. revenue decreased by 16.5% year over year [12] - The global capital equipment environment remains uncertain, affecting customer system adoption in both U.S. and international markets [6][8] Company Strategy and Development Direction - The company is focusing on transitioning to higher quality cash revenues, with cash system sales in the U.S. representing 80% of total U.S. system sales [7] - Plans to evolve the portfolio and launch a new body device in the second half of 2025 are underway [9] - The company is managing cash burn through disciplined cost management and targeted investments for long-term growth [9] Management's Comments on Operating Environment and Future Outlook - Management noted that customer financing pressures, economic uncertainty, and tighter credit markets are impacting system adoption [6] - The company does not provide full-year 2025 financial guidance but expects sequential revenue growth in the second quarter [18] Other Important Information - The company enhanced its balance sheet by converting $11 million of debt to equity and secured a new bridge loan amendment [10][17] - The company is actively evaluating strategic alternatives to maximize shareholder value amid current market conditions [18] Q&A Session Summary Question: Impact of tariffs on international business - Management indicated that a 10% tariff on products sourced from Israel could impact gross margins by 11.5% in 2025 and 22.5% in 2026, but the overall impact is expected to be modest and manageable through pricing [20][22][24] Question: Timing of delayed sales contracts - Delays in closing sales contracts were attributed to economic hesitancy affecting both U.S. sales and international distributor orders [27][29] Question: Update on next-gen body contouring device - The launch of the next-gen body contouring device is expected in the early part of the second half of 2025, with significant market uptake anticipated based on customer feedback [30][31][32]

Core Viewpoint - Gauzy Ltd. is conducting its Q1 2025 earnings conference call, indicating a focus on financial performance and future projections [1]. Group 1: Company Overview - The conference call is hosted by Gauzy's CEO Eyal Peso and CFO Meir Peleg, highlighting the leadership's involvement in discussing the company's performance [3]. - The call is recorded and allocated one hour for prepared remarks and Q&A, suggesting a structured approach to investor communication [1]. Group 2: Financial Statements and Projections - Management will be making forward-looking statements based on current expectations and beliefs, which are inherently uncertain [3]. - Actual results may differ materially from forward-looking statements due to various risks and uncertainties discussed in the earnings news release [4].

Financial Data and Key Metrics Changes - For Q1 2025, net revenue was $15.4 million, a decline of 24% from $20.2 million in Q1 2024, primarily due to SKU rationalization and reduced consumer demand [7][26] - Adjusted EBITDA loss slightly improved to $2.5 million from $2.6 million year-over-year, despite a 24% sales reduction [7][29] - Gross margin decreased to 61.4% from 65.1% in the previous year, attributed to product mix changes [27] - Operating loss narrowed to $3.7 million from $5.3 million in the year-ago quarter, an improvement of approximately 30% [28][29] - Net loss for Q1 2025 was $3.9 million, improving by approximately 25% from a loss of $5.2 million in Q1 2024 [29] Business Line Data and Key Metrics Changes - The company launched one new product category in Q1 2025, while suspending new product launches from Asia for the year [26] - Launch revenue was $400,000 in both Q1 2025 and Q1 2024 [26] Market Data and Key Metrics Changes - The company experienced softness in consumer demand, particularly in the latter part of the quarter, which was compounded by reduced Amazon traffic due to changes in its affiliate program [7][8] - Inventory levels increased to $18.1 million from $13.7 million at the end of Q4 2024, reflecting a buildup in anticipation of demand for seasonal products [30] Company Strategy and Development Direction - The company is focusing on four strategic initiatives: accelerating manufacturing diversification, expanding into consumables, implementing strategic pricing adjustments, and reducing fixed costs [10][21] - The goal is to manufacture no more than 30% of goods in China by the end of 2025, accelerating the previous target of below 40% by 2026 [12] - The company has paused its share repurchase program to conserve cash amid the current macroeconomic environment [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current volatility without raising equity capital in 2025, despite withdrawing guidance for the year due to uncertainty [19][31] - The company believes that the actions taken now will set the foundation for a return to growth and profitability beyond 2025 [32] - Management acknowledged the challenges posed by the tariff environment but emphasized the importance of agility and resilience in their strategy [9][20] Other Important Information - The company is targeting annualized savings of $5 million to $6 million through fixed cost reduction initiatives, with approximately $4 million expected from headcount reductions [16][25] - Cash preservation remains a priority, with cash levels at approximately $14.3 million as of March 31, 2025 [30] Q&A Session Summary Question: Can you talk about your inventory plans in the near and medium term given the 30% China tariffs? - Management indicated that they have been proactive in managing inventory and have not rushed to bring in products from China, focusing instead on securing stable supply chains [35][36] Question: Can you elaborate on your pricing strategy and consumer reactions? - Management noted that the pricing strategy has led to mixed results, with some products experiencing decreased velocity due to price increases, but overall positioning remains strong [41][42] Question: Is there a way to speed up your diversification strategy in manufacturing? - Management committed to accelerating the diversification strategy as quickly as possible while maintaining product quality [45] Question: Will the company be paying any dividends in the future? - Management stated that cash conservation is a priority due to restructuring plans and the current macroeconomic environment, focusing on long-term growth instead [49] Question: Would management consider revising its policy on granting employee stock options? - Management affirmed that stock options are a tool for incentivizing performance and aligning interests with shareholders, and they will continue to evaluate this policy [52][54]

Financial Data and Key Metrics Changes - The company's net loss for Q1 2025 was $37 million, or $0.86 per share, compared to a net loss of $21.6 million, or $0.64 per share for Q1 2024 [20] - Non-GAAP adjusted net loss was $34.7 million, or $0.81 per share for Q1 2025, compared to a non-GAAP adjusted net loss of $19.9 million, or $0.59 per share for Q1 2024 [20] - Research and development expenses increased to $32.2 million for Q1 2025 from $20.6 million in Q1 2024, with a significant portion attributed to clinical trial activities [20][21] - General and administrative expenses rose to $3.9 million for Q1 2025 from $1.8 million in Q1 2024 [21] - Net cash used in operating activities was $35.9 million for Q1 2025, compared to $17.1 million for Q1 2024 [22] - The company ended the quarter with approximately $205.7 million in cash, cash equivalents, and short-term investments [22] Business Line Data and Key Metrics Changes - The company is focused on three clinical programs, with significant revenue potential if regulatory approvals are obtained [7][8] - The Phase III VICTORIA-one trial is designed to evaluate gadotelisib in combination with fulvestrant for advanced breast cancer patients [9] - The VICTORIA-two trial is a global Phase III study evaluating gadotelisib as a first-line treatment for HR positive, HER2 negative advanced breast cancer [15][16] - The Phase 1B2 trial is assessing gadotelisib in combination with darolutamide for metastatic castration-resistant prostate cancer [17] Market Data and Key Metrics Changes - The company estimates that nearly 200,000 late-stage cancer patients globally would be eligible for treatment with gadotelisib if approved [8] - The peak revenue potential for the second-line indication of gadotelisib could exceed $2 billion with just 40% market penetration [15] Company Strategy and Development Direction - The company aims to transition to a commercial stage company following potential FDA approvals for its clinical programs [10] - The focus is on developing effective therapies for advanced breast cancer patients resistant to endocrine therapy, addressing a significant unmet need in the market [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the upcoming clinical data readouts, with top-line data expected from the VICTORIA-one trial in Q3 2025 [7][10] - The company recognizes the importance of demonstrating clinically meaningful results in terms of progression-free survival (PFS) to gain market acceptance [12][14] Other Important Information - The company is collaborating with Dana Farber Cancer Institute and Massachusetts General Hospital to evaluate gadotelisib in endometrial cancer [18] - The company expects its current cash reserves to fund clinical development activities through 2026 [22] Q&A Session Summary Question: Timing for VICTORIA-one data readout - Management expects to lock the database in June and report results in Q3 2025, with no anticipated delays [27][28][30] Question: Impact of SERNA6 on second-line setting - Management believes SERNA6 will not affect their patient population as it pertains to first-line CDK4/6 patients [36][37] Question: Minimum HR for wild type update - Management indicated that an incremental three months in PFS would be considered clinically meaningful, but specifics will not be disclosed until data is available [39][40] Question: Change in timing for wild type readout - Management clarified that variability in event distribution among trial arms influenced the timing, but they remain confident in the Q4 timeline for the PIK3CA mutant population [43][44] Question: Prior proof of concept data for prostate cancer - Management discussed the encouraging non-clinical data supporting the efficacy of gadotelisib compared to single-node inhibitors [47][49]

Financial Data and Key Metrics Changes - The company reported adjusted EPS of $6.04 per share for Q1 2025, down from $7.15 per share in Q1 2024, reflecting a decrease in adjusted net income from $140 million to $113.4 million, a decline of $26.6 million [11] - Total operating costs increased by $19.8 million, primarily due to a rise in the average number of vessels in the fleet, while net finance costs rose by $6 million [11][12] - Adjusted EBITDA decreased by 3.1% or $5.5 million to $171.7 million compared to $177.2 million in Q1 2024 [14] Business Line Data and Key Metrics Changes - Revenues from the drybulk segment decreased by $9 million due to a softer spot market, while container segment revenues fell by $9.4 million due to lower contracted charter rates [11] - Fleet utilization decreased, contributing to a $6.4 million drop in revenues, mainly due to increased dry dockings [11] Market Data and Key Metrics Changes - The drybulk market has shown modest recovery from its lows, but a meaningful recovery is challenging without further growth initiatives in China [6] - The Pacific market has experienced a dramatic decline due to tariff uncertainties and ongoing armed conflicts, particularly between India and Pakistan [5] Company Strategy and Development Direction - The company is focusing on optimizing the performance of its existing fleet and investing in energy-saving devices to enhance competitiveness [20] - A significant growth backlog includes 15 container vessels scheduled for delivery over the next three years, all backed by profitable charter arrangements [9] - The company is holding off on new vessel investments due to the current environment of expensive new builds and unclear future fuel options [21] Management's Comments on Operating Environment and Future Outlook - Management noted that the U.S. economy remains resilient, with expectations of a rebound in trade flows as consumer spending continues [6] - The proposed IMO regulation on greenhouse gas emissions is seen as insufficient to drive meaningful progress in decarbonization, leading to uncertainty in future fuel options [8] Other Important Information - The company declared a dividend of $0.85 per share for the quarter and has repurchased $36.9 million worth of stock, totaling $205.7 million in share repurchases to date [15] - As of March 31, 2025, cash stood at $480 million, with total liquidity at $825 million, providing flexibility for capital deployment opportunities [15] Q&A Session Summary Question: Focus on cash generation or investment opportunities in existing fleet? - Management confirmed a focus on investing in energy-saving devices to enhance competitiveness while also generating significant cash [20] Question: Continuation of stock buybacks? - Management indicated that there is $100 million authorized for buybacks, but no specific targets or timelines were set for execution [22] Question: Reason for increasing stake in Star Bulk? - The additional investment in Star Bulk was seen as a compelling opportunity, with no specific plans for the time being [23][24]

Financial Data and Key Metrics Changes - Net income for the first quarter increased by 31.4% to $1,700,000 or $0.09 per share compared to $1,300,000 or $0.07 per share in the same period last year [6] - The company's pro rata share of net operating income (NOI) in the first quarter increased by 10% year over year to $9,400,000, primarily driven by higher contributions from multifamily developments and mining royalty segments [6][7] - Over the last three years, pro rata NOI has grown at a compound annual growth rate of 21.8% [7] Business Line Data and Key Metrics Changes - The multifamily segment contributed an additional $141,000 of NOI year over year [6] - The mining segment saw an increase of $524,000 in NOI [6] - The industrial and commercial segment NOI decreased by $20,000 year over year due to vacancy and uncollectible revenue from an evicted tenant [7] - Total revenues and NOI for the commercial and industrial segment were $1,300,000 and $1,100,000 respectively, a decrease of 72% over the same period last year [8] - The mining and royalty business segment reported total revenues and NOI of $3,200,000 and $3,300,000 respectively, an increase of 919% over the same period last year [9] - The multifamily segment reported total revenues and NOI of $14,300,000 and $8,000,000 respectively, with FRP's share being $8,300,000 and $4,600,000 [10] Market Data and Key Metrics Changes - The multifamily apartments were 94% occupied, while retail space was 74.8% occupied at quarter end [10] - Same store comparison showed a revenue increase of 4% with NOI flat over the same period last year, primarily due to higher operating expenses [11] - New deliveries in the DC market are expected to pressure vacancies, concessions, and revenue growth in the foreseeable future [11] Company Strategy and Development Direction - The company aims to double the size of its industrial segment over the next five years by delivering three new industrial assets every two years [24] - The focus for 2025 includes getting the Cranberry and Chelsea projects fully occupied and investing in new projects [23] - The company is in the middle of predevelopment activities for a 900,000 square foot distribution center in Cecil County, Maryland, with expected permits in early 2026 [14][15] Management's Comments on Operating Environment and Future Outlook - Management cautioned investors to expect flat to slightly negative NOI results overall in 2025 due to temporary headwinds [22] - Despite positive first quarter results, the company noted that most income and NOI growth came from increases in mine royalties and improved occupancy at The Verge [21] - The average rental rate of expiring industrial leases was $6.55 triple net, with expectations for new rental rates to start in the sevens or greater [18] Other Important Information - The company has committed $31,100,000 in funding for the Aberdeen overlook project, with expectations to generate interest and profits of approximately $11,200,000 [16] - The construction loan and general contractor agreements for new industrial projects have been executed, with vertical construction anticipated to begin in Q2 2025 [24] Q&A Session Summary - There were no questions from participants during the Q&A session [26]

Financial Data and Key Metrics Changes - Net income for Q1 2025 increased by 31.4% to $1,700,000 or $0.09 per share compared to $1,300,000 or $0.07 per share in the same period last year [5] - Pro rata share of net operating income (NOI) increased by 10% year over year to $9,400,000, driven by higher contributions from multifamily developments and mining royalty segments [5][6] - Over the last three years, pro rata NOI has grown at a compound annual growth rate of 21.8% [6] Business Line Data and Key Metrics Changes - The multifamily segment contributed an additional $141,000 of NOI year over year [5] - The mining segment saw an increase of $524,000 in NOI [5] - The industrial and commercial segment NOI decreased by $20,000 year over year due to tenant eviction [6][7] - Mining and royalty business segment revenues and NOI increased by 919% to $3,200,000 and $3,300,000 respectively [8] - Multifamily segment revenues and NOI totaled $14,300,000 and $8,000,000 respectively, with FRP's share being $8,300,000 and $4,600,000 [9] Market Data and Key Metrics Changes - The commercial and industrial segment had a total of nine buildings with 85.2% leased and occupied [7] - The multifamily apartments were 94% occupied, while retail space was 74.8% occupied [9] - The average rental rate of expiring industrial leases was $6.55 triple net, with expectations for new rates to start in the sevens or greater [18] Company Strategy and Development Direction - The company aims to double the size of its industrial segment over the next five years, with a focus on new industrial projects [23] - Development projects include a 258,000 square foot warehouse in Maryland and a 200,000 square foot warehouse in Florida [11][12] - The company plans to continue entitlement work on its industrial pipeline in Maryland to be shovel-ready by 2026 [22] Management's Comments on Operating Environment and Future Outlook - Management cautioned investors to expect flat to slightly negative NOI results overall in 2025 due to temporary headwinds [21] - The company is focused on getting existing properties fully occupied and investing in new projects to set up for future NOI growth [21][24] - Uncertainty around trade policy and the economy has caused leasing activity to slow, but rental rates remain strong [17] Other Important Information - The company has committed $31,100,000 in funding for the Aberdeen overlook project, with expected profits of $11,200,000 [16] - The company is in the initial permitting stage for a 55-acre tract in Harbour County, Maryland, with plans for four buildings totaling 635,000 square feet [14] Q&A Session Summary - There were no questions from participants during the Q&A session [25]