Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $6.8 million, up 1% compared to Q1 2024 [16] - Global recurring revenue for Q1 2025 was $4.7 million, also up 1% year-over-year [16] - Gross profit increased to $3.6 million for Q1 2025, up from $3.1 million in the same period in 2024, resulting in a gross margin of 53.5% compared to 45.6% in Q1 2024 [17] - Total operating expenses decreased to $5.7 million in Q1 2025 from $6.0 million in Q1 2024, a reduction of 5% [18] - Cash burn improved to $749,000 in Q1 2025 from $1.55 million in the prior year [19] Business Line Data and Key Metrics Changes - The installed base of XTRAC devices in the U.S. is approximately 850, with a significant increase in recurring revenue per device [6][11] - The TheraClear X device installed base reached 160 units, up from 104 units at the end of Q1 2024, with revenue growing over 50% year-over-year in six of the last seven quarters [13] - The number of patients submitted for reimbursement for TheraClear X increased by 138% year-over-year, with pre-authorization rates exceeding 85% [14][29] Market Data and Key Metrics Changes - International business sales reached $2.5 million, up 8% year-over-year, with equipment sales up 13% and recurring treatments revenue up 27% [14] - The company is cautiously monitoring the potential negative impact of tariffs on international sales, particularly in Asian markets [15][41] Company Strategy and Development Direction - The company is executing a multifaceted turnaround strategy focused on increasing recurring revenue per device and optimizing device placements [5] - The Elevate360 consulting model is being expanded to improve patient conversion and device utilization in underperforming clinics [6][7] - The strategy includes removing underutilized devices to ensure capital efficiency and focusing on clinics that show potential for growth [9][54] Management's Comments on Operating Environment and Future Outlook - Management cautioned about potential impacts of tariffs on international business, although there was no immediate effect observed in Q1 2025 [20] - The company anticipates favorable outcomes from ongoing discussions regarding reimbursement coverage expansions [12] - Management expressed optimism about the traction gained from the turnaround strategy and the increase in demand for cost-effective treatments [14] Other Important Information - The company exited Q1 2025 with cash and cash equivalents totaling $7.8 million, including $1.3 million of restricted cash [20] - The average revenue per XTRAC device in the U.S. was approximately $22,000 in 2024, indicating potential for significant revenue growth with increased utilization [10] Q&A Session Summary Question: Can you discuss the TheraClear pipeline and marketplace learnings? - Management noted that the installed base is growing, with 160 devices deployed and a significant increase in patients submitted for reimbursement [24][25] Question: What are the utilization trends for TheraClear? - Management provided insights on the revenue breakeven points and the expected number of procedures per device, indicating a focus on increasing utilization [31] Question: What is the potential impact of tariffs on domestic business? - Management clarified that the domestic supply chain is minimally impacted by tariffs, but there are peripheral effects due to suppliers raising prices [41][42] Question: What is the focus for the rest of 2025 regarding the installed base? - Management indicated a dual focus on increasing utilization of the current installed base while also signing new clinics [46][54] Question: How many clinics could benefit from the Elevate360 program? - Management stated that they are currently implementing the program in about 100 accounts, with plans for further expansion [58][60]

Financial Data and Key Metrics Changes - The company generated $244.7 million of adjusted EBITDA in Q1 2025, down slightly compared to the same quarter last year despite a 20.5% decline in revenue [11][12] - Total adjusted SG&A expenses were $57.5 million, representing 85.6% of gross profit, down from $72.6 million or 87.9% of gross profit in the same quarter last year [12] - Cash outflows from operating activities were $6.9 million for Q1 2025, compared to cash inflows of $17 million for the same period in 2024 [17] Business Line Data and Key Metrics Changes - The Powersports Group sold 13,186 total major units, down 20.5% year over year, with new unit sales down 23.7% and pre-owned unit sales down 13.9% [13] - Gross margins for new units improved to 13.5% from 12.5% year over year, while pre-owned gross margins were 16.3%, down from 19.5% [13] - Revenue from the powersports dealership group was $239.2 million, down 18.5% year over year, primarily due to lower major unit volume [16] Market Data and Key Metrics Changes - The asset light vehicle transportation services segment, Wholesale Express, saw revenue decline by 61.5% year over year, with gross profit decreasing 68.6% to $1.1 million [16] - The overall decline in unit sales during the quarter impacted revenue and gross profit across various segments [14][15] Company Strategy and Development Direction - The company is focused on improving operational discipline and customer service amidst a challenging macroeconomic environment [10] - New key management additions aim to strengthen market position and drive long-term growth [8] - The company is actively evaluating opportunities to optimize capital structure and lower cost of capital [18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges due to tariffs and a difficult consumer backdrop but expressed confidence in the company's strategic initiatives [9][10] - The company expects 2025 results from the Wholesale Express segment to decline significantly from 2024 but believes it is better positioned for sustainable long-term growth [11] Other Important Information - The company ended the quarter with $56.2 million in total cash and $188.2 million in non-vehicle net debt [17] - Total available liquidity was $171.4 million as of March 31, 2025 [17] Q&A Session Summary Question: How aggressive does the company want to be with the cash offer tool for pre-owned inventory? - The company can be aggressive with the cash offer tool, but it depends on the quality of the inventory available [20][21] Question: What are the expectations for year-end inventory levels? - The company expects inventory levels at year-end to be about where they ended in 2024, possibly slightly higher due to inflation [23][24] Question: What is the message from OEM partners regarding tariffs? - OEM partners are currently absorbing tariff costs, and there is hope that the situation will stabilize in the near future [27][28][30]

Core Viewpoint - Starbucks' stock price declined following Q2 results and outlook, attributed to investment in the turnaround strategy led by Brian Niccol, focusing on atmosphere, throughput, and customer satisfaction [1][5][8] Financial Performance - Q2 results showed a 3% FX-neutral growth driven by an increase in store count, falling short of consensus estimates [5] - Globally, comparable store sales (comps) decreased by 1% due to a 2% year-over-year decline in transactions, offset by a 1% increase in ticket average [6] - North America experienced a 1.5% growth in comps, supported by a 3.1% increase in store count, while International business grew by 6.2% [6] Store Expansion - The store count increased by 6.1% year-over-year at the end of Q2, with plans for continued growth, targeting a 100% increase relative to Q2 totals [7] Margin Concerns - Operating margin contracted by 450 basis points to 8.2%, significantly impacting earnings, primarily due to the rollout of Green Apron operations, which involves hiring more staff and technological advancements [7] - Niccol expressed confidence that margins will recover as turnaround expenses decrease and increased traffic and higher check averages are realized [8] Analyst Sentiment - Analysts have downgraded Starbucks from Moderate Buy to Hold, with several price target reductions, leading to a consensus target decline [8][9] - Current stock price is $80.05, with a 12-month price forecast of $98.15, indicating a potential upside of 22.62% [8] Market Reaction - Following the Q2 results, Starbucks' stock price fell sharply but showed signs of support at critical levels, indicating potential for a rebound [9][10]

Investor Presentation Q1 2025 FORWARD LOOKING STATEMENTS This presentation and the accompanying remarks contain non-GAAP measures. An explanation of most directly comparable GAAP measures are contained in the Appendix. © Newell Brands 2 • the Company's ability to optimize costs and cash flow and mitigate the impact of soft global demand and retailer inventory rebalancing through discretionary and overhead spend management, advertising and promotion expense optimization, demand forecast and supply plan adjus ...

Core Insights - Better Choice Company Inc. (BTTR) shares have declined 9.4% since the earnings report for Q4 2024, contrasting with a 1.9% decline in the S&P 500 index during the same period [1] - The company reported a net loss per share of 50 cents for Q4 2024, an improvement of 97% year over year [2] - Revenues increased by 26% year over year to $7.2 million, with net losses narrowing by 90% to $1.6 million [3] Financial Performance - Adjusted EBITDA was negative at $0.7 million, but showed year-over-year improvement, indicating cost discipline and operational efficiencies [3] - Gross margin expanded by 2,705 basis points to 36%, driven by stronger volumes and improved terms with manufacturing partners [3] - For the full year 2024, Better Choice reported a net loss of $0.2 million, significantly narrower than the $22.8 million loss in 2023, with loss per share improving to 10 cents from $32.29 [8] Operational Metrics - The company achieved a 32% year-over-year growth in sales through Amazon and Chewy, emphasizing a shift towards higher-margin digital sales channels [4] - SG&A expenses were reduced by 22% in 2024, contributing to a 10% increase in gross profit dollars despite a decline in topline revenue [5] - Inventory was reduced by over 40% year-over-year while maintaining service levels above 95% [4] Strategic Initiatives - CEO Kent Cunningham highlighted 2024 as a transformative year, with strong growth in e-commerce platforms and successful promotions [6] - The company is focusing on high-return e-commerce partners and has exited unprofitable sales channels, which has contributed to improved financial performance [7] - Better Choice entered into an agreement to sell its Halo Asia business for $6.5 million in cash, plus a 3% royalty on future sales [9] Future Outlook - The company expects to close its acquisition of SRx Health Solutions in April, which is anticipated to create a leading global health and wellness platform [10]

Core Viewpoint - Nike continues to face declining revenue and profits, with expectations for further deterioration in the upcoming fiscal fourth quarter [1][4][10] Financial Performance - Nike reported a 9% decline in sales, totaling $11.3 billion, and earnings per share dropped to $0.54, down from $0.98 a year ago [1][2] - The company anticipates mid-teens revenue decline for Q4 and a gross margin decrease of 400 to 500 basis points due to unfavorable shipment timing and new tariffs [4][11] Leadership Changes - Elliott Hill has replaced John Donahoe as CEO, aiming to refocus on retailer relationships and a pull marketing strategy [3][12] Market Segments - The running segment saw mid-single-digit growth, driven by new product launches, while overall revenue in the Asia-Pacific Latin America segment fell by 4% on a currency-neutral basis [7][8] - Performance footwear and apparel experienced growth, although this was offset by declines in sportswear and the Jordan brand [8] Strategic Outlook - Management expects headwinds from the Win Now turnaround strategy to moderate after Q4, with a potential financial recovery beginning in fiscal 2026 [5][11] - The company is working on inventory overhaul and aims to return to a full-price business model, a process expected to take several more quarters [9][14] Investor Sentiment - Despite beating analyst estimates, investor confidence remains low, with the stock hitting a five-year low and hovering around seven-year lows [2][13] - The current situation presents a potential opportunity for investors, as the margin reset and focus on retail relationships may lead to improved performance in the future [14]