Tokenomics Update - 220 million $BGB tokens, valued at $1.09 billion, have been burned [1] - An additional 220 million $BGB tokens, also valued at $1.09 billion, have been transferred to a new wallet for locking [1] - The Morph Foundation will update the BGB burn mechanism, linking it to Morph network activity, aiming to reduce the total BGB supply to 100 million [1] Strategic Partnership - Bitget and Morph have announced an exclusive strategic partnership [1] - Morph will adopt $BGB as its gas and governance token [1]

Financial Data and Key Metrics Changes - Fiscal 2025 was a record year for the company, with net income from continuing operations reaching $15.7 million in the fourth quarter, a significant improvement from a net loss of $0.6 million in the prior year period [4][18] - Book value per share increased by approximately 24% year over year to $2.65 as of June 30, with a pro forma value of $2.58 after two capital raises in July and August [6][19] - Revenue in the fourth quarter was $5.6 million, compared to $8.9 million in the prior year, but excluding a one-time property sale, revenue grew over 140% year over year [17] Business Line Data and Key Metrics Changes - The credit business, GECC, generated record investment income and incentive fees, with net investment income exceeding quarterly distributions, supporting a 6% increase in dividends to $0.37 per share [9] - Monomoy Construction Services (MCS) launched in February and contributed nearly $1 million in revenue in its initial months, with expectations to more than double its revenue in fiscal 2026 [11] - The Great Elm Credit Income Fund posted net returns of 21% for the six months ended June 30, driven by unrealized appreciation in CoreWeave-related investments [10] Market Data and Key Metrics Changes - Assets under management in fee-paying AUM totaled approximately $759 million, up 4% from the prior year [17] - The company completed over $100 million in capital raises across its credit and real estate platforms in July and August, enhancing its financial flexibility [4][9] Company Strategy and Development Direction - The company aims to scale its credit and real estate platforms, with a target of $1 billion in assets for Monomoy REIT and a potential future IPO [14] - Strategic partnerships, such as with Kennedy Lewis Investment Management, are expected to accelerate growth and provide significant new capital for expansion [13][15] - The integration of MCS is designed to enhance development timelines and deepen tenant relationships, contributing to long-term revenue growth [11] Management's Comments on Operating Environment and Future Outlook - Management views fiscal 2025 as an inflection point, with strong momentum and a solid foundation for future growth [5][16] - The company is well-positioned to drive meaningful growth and create lasting value for shareholders, supported by a strong balance sheet and strategic partnerships [6][16] Other Important Information - The board expanded the stock purchase program by $5 million, bringing the total to $25 million, with $15.7 million remaining in capacity [7] - The company reported significant unrealized gains from its CoreWeave-related investment, contributing over $11 million to earnings [8] Q&A Session Summary - There were no questions during the Q&A session, indicating a strong confidence in the company's performance and outlook [20]

Financial Data and Key Metrics Changes - Fiscal 2025 was a record year for the company, with net income from continuing operations reaching $15.7 million in the fourth quarter, a significant improvement from a net loss of $0.6 million in the prior year period [4][18] - Book value per share increased by approximately 24% year over year to $2.65 as of June 30, with a pro forma book value of $2.58 after two capital raises in July and August [6][19] - Adjusted EBITDA for the quarter was $1.5 million, compared to $1.2 million in the prior year period [18] Business Line Data and Key Metrics Changes - In the credit segment, GECC generated record investment income and incentive fees, raising over $75 million in new capital and increasing its dividend by 6% to $0.37 per share [4][9] - The Great Elm Credit Income Fund posted net returns of 21% for the six months ended June 30, driven by unrealized appreciation in CoreWeave-related investments [10] - The real estate segment launched Monomoy Construction Services, contributing nearly $1 million in revenue and expanding its project pipeline by over 50% [11] Market Data and Key Metrics Changes - Assets under management in fee-paying AUM totaled approximately $759 million, up 4% from the prior year quarter end [17] - The company completed significant capital raises, including a $100 million term loan to Monomoy REIT and a $15 million equity capital raise from GECC [13][16] Company Strategy and Development Direction - The company aims to scale its credit and real estate platforms, with a target of $1 billion in assets for Monomoy REIT and a potential future IPO [14] - Strategic partnerships, such as with Kennedy Lewis Investment Management, are expected to accelerate growth and enhance the company's real estate platform [12][14] Management's Comments on Operating Environment and Future Outlook - Management views fiscal 2025 as an inflection point, with strong momentum and a solid foundation for future growth [5][16] - The company is well positioned to drive meaningful growth and create lasting value for shareholders, supported by a strong balance sheet and strategic capital raises [6][16] Other Important Information - The company repurchased 5.1 million shares for $9.3 million at an average of $1.85 per share, with $15.7 million remaining in the stock purchase program [7] - Unrealized gains from the CoreWeave-related investment contributed over $11 million to earnings, highlighting the company's ability to capture unique investment opportunities [8] Q&A Session Summary - There were no questions during the Q&A session, indicating a strong presentation and clarity in the company's communication [20]

Core Insights - GDEV Inc. has increased its ownership in Royal Ark to 57% through a conversion option, enhancing their strategic partnership established in 2022 [1] - The partnership has led to the successful launch of Idle Zombie Miner, which achieved over 17 million installs and generated approximately $23 million in revenue in the first half of 2025 [2] - Royal Ark remains independently managed by its founder, Leonid Sirotin, while GDEV provides strategic oversight and resource allocation [3] Company Overview - GDEV is a gaming and entertainment holding company with a diverse portfolio, including subsidiaries like Nexters and Royal Ark, and has achieved over 550 million installs and $2.7 billion in bookings globally [5] - Royal Ark, founded by Leonid Sirotin, focuses on creating mobile games and operates independently, emphasizing player care and attention to detail [6]

Company Overview - SEI has been selected by Nephila Capital Ltd. to support its back- and middle-office operations across North America and the UK [1] - Nephila has over 20 years of experience in managing institutional assets in the reinsurance industry and is one of the largest insurance linked securities managers globally, with approximately $7 billion in assets under management [2][9] - As of June 30, 2025, SEI manages, advises, or administers approximately $1.7 trillion in assets [5] Market Insights - The insurance linked securities (ILS) market is projected to nearly double from approximately $100 billion to $200 billion by 2032 [2] - Asset managers like Nephila are seeking strategic partners to enhance efficiency through comprehensive services such as reconciliation, payment processing, and data aggregation [2] Strategic Partnership - Nephila's Head of Operations emphasized the need for a strategic partner with a proven track record in managing complex products and scalable infrastructure [3] - SEI's technology-driven solutions are tailored to help Nephila achieve its strategic goals and enhance operational efficiency [4] - SEI's global footprint and stability are seen as beneficial for supporting Nephila's long-term growth in the complex ILS industry [4]

#Bitget has announced a strategic partnership with Morph Chain @MorphLayer.Through this exclusive collaboration, all #BGB tokens held by the team (440M BGB) will be transferred to the Morph Foundation. The Morph Chain will adopt BGB as its gas and governance token, powering payments and utility across the layer.👉 Check out the details: https://t.co/EIZTwdo9gq ...

Core Insights - Starbucks Corporation is intensifying its focus on China, seeking a strategic partnership to enhance long-term growth, with over 20 potential partners showing interest [1][9] - China has shown consistent revenue growth, marking its third consecutive quarter of growth, with comparable sales increasing by 2% and transactions rising by 6% [2][5] - The company plans to maintain a significant stake in its China operations while reducing operational intensity, mirroring strategies of global peers in complex markets [3] Financial Performance - Starbucks is investing over $0.5 billion in its "Back to Starbucks" plan in the U.S., which has impacted fiscal third-quarter profitability [4] - The international segment, particularly China, is being closely monitored for its potential to balance the company's performance amid U.S. initiatives [5] - Starbucks shares have increased by 2% over the past three months, contrasting with a 3.1% decline in the industry [8] Valuation Metrics - Starbucks trades at a forward price-to-sales ratio of 2.55, which is below the industry average of 3.78 [11] - The Zacks Consensus Estimate for fiscal 2025 EPS indicates a decline of 33.2% year-over-year, while fiscal 2026 EPS is expected to rise by 22.4% [12]

Core Insights - Power Solutions International, Inc. has entered into a cooperative agreement with HD Hyundai Infracore to enhance its engine offerings with advanced Tier 4 and Euro Stage V diesel engines [1][2] - The partnership will enable PSI to market, develop, and distribute HDI's diesel engines across North America, providing integration services and turn-key power units [2][3] - This collaboration aims to broaden PSI's range of high-performance engine solutions for industrial OEMs, enhancing power, performance, and efficiency [3][4] Company Overview - Power Solutions International, Inc. specializes in designing, engineering, and manufacturing advanced, emission-certified engines and power systems [6] - The company offers integrated turnkey solutions to global OEMs and end-users in various markets, including power systems, industrial, and transportation [6][7] - PSI's capabilities include in-house design, prototyping, engineering, and testing, allowing for customization of engines that can operate on multiple fuel types [6][7] Market Position - The partnership with HD Hyundai Infracore is expected to provide a competitive advantage in penetrating large OEMs and end-user markets [4] - PSI's industrial market includes applications such as forklifts, agricultural equipment, and construction machinery, while its transportation market serves specialized vehicles like military and port equipment [7]

Group 1: TGE's Movie Business Activities - TGE has released five films in 2025, including "The Last Dance: Extended Version," "A Gilded Game," "She's Got No Name," "My First of May," and "Atonement," with more films planned for later this year [1] - TGE's board is committed to expanding its influence and leadership in the movie and entertainment industries through collaboration with other industry leaders [2] Group 2: Partnerships and Future Plans - TGE announced a partnership with Beijing Alibaba Pictures Culture Limited on February 6, 2025, focusing on film, entertainment, content, and fashion media, with six collaborations reported in the movie sector so far [3] - TGE aims to strengthen its presence in the film industry both in Asia and internationally [3] Group 3: Company Overview - The Generation Essentials Group (TGE) is a joint venture established by AMTD Group, AMTD IDEA Group, and AMTD Digital Inc., focusing on global strategies in multimedia, entertainment, and cultural affairs [7] - TGE includes a diversified portfolio of media and entertainment businesses, as well as premium properties [7]

Core Insights - DoorDash and Ace Pickleball Club (APC) have formed a strategic multi-year partnership, making DoorDash the Official On-Demand Delivery & Pickup Platform for APC, enhancing convenience for members [1][2] - The partnership includes exclusive benefits for APC members, such as discounted promotions on eligible orders and designated DoorDash Delivery Zones at each club location [2][3] - DoorDash will also sponsor the Ace Pickleball Club Championship Series, which features a $250,000 prize pool for the national championship [3][4] Company Overview - DoorDash is a leading local commerce platform that connects consumers with businesses and has expanded to over 30 countries since its founding in 2013 [5] - Ace Pickleball Club focuses on providing an exceptional indoor pickleball experience through a network of member-focused clubs, catering to players of all skill levels [6] Strategic Benefits - The partnership aims to enhance the member experience by allowing players to order groceries and essentials without interrupting their game [2][4] - With over 35 clubs expected to open across 21 states by early 2026, the collaboration will cater to the active lifestyles of APC members [4]