🚨The data economy is booming—but so is the lack of accountability.In Episode 8 of #PrivacyInMotion with @MidnightNtwrk and @brave, @muneeb joins us to unpack how Bitcoin L2s could flip the script—giving you back control, privacy, and power in a system designed to take it away.[Partner Content] ...

Core Insights - Reklaim Ltd. has achieved two consecutive years of profitability, reporting a 73% year-over-year revenue growth in Q1 2025 and an 18% growth in Q2 2025, indicating strong execution and momentum in the consumer data privacy sector [3]. Company Performance - The company will be presenting at the Annual Smallcap Discoveries Conference on September 29, 2025, where CEO Neil Sweeney will discuss Reklaim's recent performance and the growth of its core platforms: Protect and Rewards [2][3]. - Reklaim is one of the few profitable companies in the small-cap market, showcasing the sustainability of its business model [3]. Business Model and Strategy - Reklaim empowers consumers to control their personal information through its mobile app, allowing them to view, protect, and monetize their data [6]. - The company licenses high-quality, permissioned data to brands, providing a privacy-compliant alternative to third-party tracking, thus aligning consumer and shareholder interests [6]. Conference Details - The Annual Smallcap Discoveries Conference aims to strengthen Canada's microcap ecosystem by fostering connections and improving access to capital for innovative businesses [4].

Financial Data and Key Metrics Changes - The company reported GAAP earnings of $0.38 per share and adjusted operating earnings of $2.14 per share for the first quarter, which is $0.32 per share higher than the previous year [7][48]. - The company reaffirmed its full-year operating EPS guidance range of $8.9 to $9.6 per share [49]. Business Line Data and Key Metrics Changes - Nuclear performance was strong, producing over 41 million megawatt hours with a capacity factor of 94.1% [51]. - The renewables and natural gas fleet achieved a 96.2% renewable energy capture and a 99.2% power dispatch match [51]. Market Data and Key Metrics Changes - The company noted that the cost of new entry for combined cycle machines and solar with storage has increased significantly, with estimates for new build CCGTs exceeding $2,000 per KW [31][32]. - The company highlighted that the demand from data centers is expected to rise, driven by the importance of AI technology and the U.S. government's focus on winning the AI race [21][22]. Company Strategy and Development Direction - The company is focused on leveraging its nuclear energy assets to meet the growing demand for clean and reliable energy, emphasizing the strategic advantage of its existing fleet [9][35]. - The acquisition of Calpine is seen as a significant opportunity, with the company believing it was worth twice what was paid due to the rising costs of new generation assets [17][19]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the favorable market environment and the ability to meet demand through existing assets, despite some skepticism about overstated demand forecasts [8][24]. - The company is optimistic about the integration of Calpine and the potential for enhanced capabilities and customer service [44][60]. Other Important Information - The company has about $1 billion left in its buyback authorization and plans to resume its buyback program when market conditions allow [20]. - The company is actively working on regulatory processes and has made all required filings for the Calpine transaction, expecting to close by the end of the year [45][46]. Q&A Session Summary Question: Can you provide more details on the progress towards long-term customer agreements? - Management indicated that while policy clarity would be beneficial, customers are adapting and seeking on-grid solutions due to delays in regulatory clarity [67][71]. Question: What is the expected path and timing to resolve the FERC proceeding? - Management believes there is sufficient information for FERC to provide clarity and expects a resolution within a few months [72][75]. Question: Is the pricing seen an indicator of future pricing? - Management stated that while they cannot disclose specific pricing details due to competitive sensitivities, they believe their pricing should align with market levels [80][84]. Question: How does the company view the behind-the-meter opportunity? - Management noted that while there is still interest in behind-the-meter solutions, current discussions are primarily focused on front-of-the-meter connections due to regulatory uncertainties [96][100].

Financial Data and Key Metrics Changes - Constellation Energy reported GAAP earnings of $0.38 per share and adjusted operating earnings of $2.14 per share for Q1 2025, which is $0.32 per share higher than the previous year [8][47] - The company reaffirmed its full-year operating EPS guidance range of $8.9 to $9.6 per share [48] Business Line Data and Key Metrics Changes - Nuclear performance was strong, producing over 41 million megawatt hours with a capacity factor of 94.1%, and completed three refueling outages averaging 24 days compared to the industry average of nearly 40 days [50] - The renewables and natural gas fleet achieved a 96.2% renewable energy capture and 99.2% power dispatch match [50] Market Data and Key Metrics Changes - The company locked in margins that exceed its ten-year average, supporting 2025 and benefiting future backlog [48] - The Illinois ZEC and CMC programs saw higher prices compared to Q1 2024, partially offset by lower nuclear PTCs recognized during the quarter [48] Company Strategy and Development Direction - Constellation Energy is focused on leveraging its nuclear assets to meet the growing demand for clean and reliable energy, particularly in the context of the data economy and AI technology [9][10] - The acquisition of Calpine is viewed as a strategic advantage, with the potential to create new capabilities for customers across America [17][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the favorable market environment and the importance of nuclear energy in meeting future demand [9][10] - The company is optimistic about the integration of Calpine and the potential for significant free cash flow and earnings growth from the acquisition [60][62] Other Important Information - The company highlighted the importance of regulatory clarity from FERC to facilitate the development of behind-the-meter and front-of-the-meter energy solutions [16][72] - Constellation Energy is well-positioned to manage potential recessionary impacts due to its investment-grade balance sheet and the protective nature of the Nuclear PTC [55][56] Q&A Session Summary Question: Can you provide more details on the progress towards long-term customer agreements? - Management indicated that while policy clarity would be beneficial, customers are adapting and seeking on-grid solutions due to delays in regulatory processes [66][70] Question: What is the expected path and timing to resolve the FERC proceeding? - Management believes there is sufficient information for FERC to provide clarity and expects a resolution within a few months [72][75] Question: Is there a diminishing interest in behind-the-meter opportunities? - Management noted that while there is still interest in behind-the-meter solutions, current discussions are primarily focused on front-of-the-meter connections due to regulatory uncertainty [94][96]