ISELIN, N.J., Jan. 06, 2026 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (Nasdaq: OTLK), a biopharmaceutical company focused on enhancing the standard of care for bevacizumab for the treatment of retina diseases, today announced it has appointed Laura Cantrell as Vice President of Corporate Strategy and Business Development. “We are very pleased to welcome Laura to Outlook Therapeutics at such a pivotal time in our evolution,” said Bob Jahr, Chief Executive Officer of Outlook Therapeutics. “Laura’s two d ...

Strategic Transformation - Galapagos is executing a strategic transformation, including the intention to wind down the cell therapy business, subject to works council consultations[13, 17] - The company expects to be cash flow neutral to positive by YE26, excluding BD and currency fluctuations[18] - A lean organization of 35-40 employees is expected by YE26, focused on transformative business development[18, 60] Financial Performance & Outlook - Nine-month total revenues increased by 6% to €211.4 million[64] - R&D expenses increased by 48% to €351.9 million[64] - An impairment loss of €204.8 million was recorded for the Cell Therapy business[64, 70] - The company anticipates approximately €2.975 - €3.025 billion in cash and investments at YE25[24] Business Development Strategy - Business development is a core strategy, leveraging a unique partnership with Gilead[37, 38] - The company is open to opportunities across diseases, modalities, geographies, and deal types[51] - A disciplined approach to capital deployment aims to maximize near- and long-term value creation[39, 40]

Financial Data and Key Metrics Changes - Consolidated revenues for Q1 2025 totaled $550.1 million, a 4.2% increase from Q1 2024 [21] - Consolidated gross profit was $20.3 million, reflecting a 53.1% increase year-over-year, with a gross profit margin of 3.7% compared to 2.5% in the prior year [21] - Net loss attributable to common stock was $17.9 million, or a diluted loss per share of $0.20, an improvement from a net loss of $25.1 million or $0.35 per share in the same period last year [22] - Adjusted EBITDA for Q1 2025 was $24.2 million, approximately 20% higher than the prior year [22] Business Line Data and Key Metrics Changes - U.S. Gas segment revenue totaled $197.7 million, a year-over-year decrease of 12.7%, with a gross profit margin of -7.5% [23][25] - Canadian Gas segment revenue was $39.8 million, down 2.9% year-over-year, but the segment margin improved to 17.8% from 7.5% [26] - Union Electric segment revenue increased by 7.1% year-over-year to $175.5 million, with a core growth of 32.7% driven by increased bid project activity [26] - Nonunion Electric segment revenue rose by 41.9% year-over-year to $137.1 million, with gross profit increasing to 11.9% from 2.9% [27] Market Data and Key Metrics Changes - The U.S. Gas segment faced adverse weather conditions impacting performance, but improvements were noted in March and April [19][25] - The nonunion electrical segment benefited from strong market trends in the Sunbelt and Southeast regions, driven by storm damage recovery efforts [20] Company Strategy and Development Direction - The company is focused on implementing a unified business development strategy to enhance growth and market positioning [11][31] - A significant increase in the sales pipeline was reported, approaching $12 billion in revenue opportunities, with a record booking quarter of $1.2 billion in Q1 2025 [14] - The company aims to improve capital efficiency and reduce working capital levels as part of its strategic priorities [29] Management's Comments on Operating Environment and Future Outlook - Management does not anticipate significant impacts from the global trade war or tariffs in 2025, citing a resilient business model [8][30] - The outlook for full-year 2025 remains unchanged, with expectations to deliver between $2.6 billion and $2.8 billion in revenues [29][30] - Management expressed confidence in maintaining a positive trajectory across segments, with strong growth anticipated in the coming quarters [21][32] Other Important Information - The company has made significant progress in enhancing its pipeline management and sales strategies, fostering a growth-oriented culture [12][31] - Capital expenditures for Q1 2025 were $23.2 million, down from $24.6 million in the prior year [28] Q&A Session Summary Question: Can you talk about the trajectory for 2025 and how you expect to reach the upper end of revenue guidance despite a weaker Q1 in U.S. Gas? - Management noted that the gas business faced weather-related challenges in January and February but recovered in March and April, with work under contract supporting the revenue guidance [35][36] Question: Can you discuss the key findings of the strategic review? - Key findings included the need for a fully integrated sales pipeline, improved cross-selling capabilities, a cultural shift towards identifying more work for customers, and aligning KPIs with growth and profitability [38][39][40] Question: How would you frame the loss in the U.S. Gas segment relative to expectations? - Management acknowledged that weather impacts are uncontrollable but emphasized efforts to migrate the business to regions less affected by weather to achieve profitability earlier in the year [45][46] Question: What is the visibility and cadence expected for bookings moving forward? - Management indicated strong visibility for Q2 bookings and anticipated some lumpiness in Q3, with Q4 expected to be robust due to MSA renewals and new bid work [49][51] Question: Can you clarify the guidance for adjusted EBITDA? - Management confirmed that while they are cautious, the bookings and backlog are pushing towards the upper end of the revenue guidance, and they do not foresee margin erosion [55][57] Question: Can you provide details on the new MSAs and their risk profile? - Management stated that the new work aligns with existing services and customers, maintaining the same risk profile without significant changes [60][61] Question: What will be needed to achieve full-year EBITDA margin? - Management indicated that no radical changes are necessary, and they are on track to meet the full-year guidance based on current backlog and expected bookings [67][68]

Financial Data and Key Metrics Changes - Consolidated revenues for Q1 2025 totaled $550.1 million, a 4.2% increase from Q1 2024 [22] - Consolidated gross profit was $20.3 million, reflecting a 53.1% increase year-over-year, with a gross profit margin of 3.7% compared to 2.5% in Q1 2024 [22] - Net loss attributable to common stock was $17.9 million, or a diluted loss per share of $0.20, improved from a net loss of $25.1 million or $0.35 per share in the same period last year [23] - Adjusted EBITDA for Q1 2025 was $24.2 million, approximately 20% higher than the prior year [23] Business Line Data and Key Metrics Changes - U.S. Gas segment revenue totaled $197.7 million, a year-over-year decrease of 12.7%, with a gross profit margin declining to -7.5% from -1.8% [24][25] - Canadian Gas segment revenue was $39.8 million, down 2.9% year-over-year, but the segment margin improved to 17.8% from 7.5% [26] - Union Electric segment revenue increased by 7.1% year-over-year to $175.5 million, with core Union Electric segment growth of 32.7% [26] - Nonunion Electric segment revenue rose by 41.9% to $137.1 million, with gross profit margin increasing to 11.9% from 2.9% [27] Market Data and Key Metrics Changes - The U.S. Gas segment faced adverse weather conditions early in the year but showed improvement in March [20] - The nonunion electrical segment benefited from strong market trends in the Sunbelt and Southeast regions [21] Company Strategy and Development Direction - The company is focused on implementing a unified business development strategy aimed at high growth pipeline development and securing new awards [12][14] - The sales pipeline is approaching $12 billion in revenue opportunities, with a record booking quarter of $1.2 billion in Q1 2025 [15] - The company aims to enhance capital efficiency and reduce working capital levels to improve free cash flow [29] Management's Comments on Operating Environment and Future Outlook - Management does not anticipate significant impacts from the global trade war or tariffs in 2025, citing a resilient business model [8][30] - The outlook for full-year 2025 remains unchanged, with expectations to deliver between $2.6 billion and $2.8 billion in revenues [29][30] - Management expressed confidence in maintaining a positive trajectory across segments and delivering strong growth in upcoming quarters [22] Other Important Information - The company has made significant progress in enhancing its pipeline management and sales strategies [31] - The first quarter is typically the slowest period due to seasonal winter weather, but the company expects to see improved performance in subsequent quarters [22] Q&A Session Summary Question: Can you discuss the trajectory for 2025 despite the weaker Q1 in U.S. Gas? - Management noted that the gas business faced weather-related challenges in January and February but recovered in March and April, with expectations to meet budgeted performance for the year [35][36] Question: What were the key findings of the strategic review? - Key findings included the need for a fully integrated sales pipeline, improved cross-selling capabilities, a cultural shift towards identifying more work for customers, and aligning KPIs with growth and profitability [38][39][40][41] Question: How does the U.S. Gas segment's loss compare to expectations? - Management acknowledged that weather impacts profitability, but efforts are being made to migrate the business to regions less affected by adverse weather [45][46] Question: What is the visibility on bookings moving forward? - Management indicated strong visibility on bookings for Q2 and expects to achieve the 1.1 times book-to-bill target for the full year [48][49] Question: Can you clarify guidance on adjusted EBITDA? - Management confirmed that while they are cautious, the strong bookings and backlog are pushing towards the upper end of revenue guidance, with no expected margin erosion [54][56] Question: What is the risk profile of new MSAs? - Management stated that the new work aligns with existing services and does not change the risk profile, focusing on maintaining the same type of contracts with established customers [58][60] Question: What is the outlook for margins based on the strategic review? - Management indicated that no radical changes are needed to achieve full-year EBITDA margin guidance, as the backlog and expected bookings are on track [65][66]