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Prestige Consumer Healthcare Conference Summary Company Overview - Prestige Consumer Healthcare Inc. (NYSE: PBH) is a consumer healthcare company focused on over-the-counter medicines, helping consumers care for themselves daily [2][3] Key Business Segments - The company has a diversified portfolio of brands, including: - Monistat (50%+ market share in vaginal antifungal treatment) - Summer's Eve (40%+ market share in feminine hygiene) - Dramamine (60% market share in motion sickness) [4][5][10] Financial Performance - Over the last five years, total revenue grew by approximately 3.5%, with organic revenue growth in the range of 2% to 3% [9] - Adjusted earnings increased by about 9% annually, exceeding the long-term target of 6% to 8% [9] - The company maintains best-in-class EBITDA margins in the low 30s, contributing to strong free cash flow generation [7][22] Growth Strategy - The growth strategy is built on three pillars: 1. Investing in brand building to achieve 2% to 3% organic growth [6] 2. Maintaining a strong financial profile with an asset-light model and high free cash flow [7] 3. Reinvesting free cash flow into capital allocation for further growth and potential acquisitions [8][22] E-commerce Growth - E-commerce sales have increased from less than 1% to over 16% of total sales in the last five years, driven by investments in content and marketing [15][16] - The company aims to be channel-agnostic, ensuring products are available across various platforms [40] Innovation and Brand Building - The company introduces 3 to 5 new products annually, focusing on incremental innovations rather than large-scale launches [17] - Recent innovations include expanding the Dramamine brand to include non-drowsy options and nausea relief products [11][12] - The introduction of a maintain subline for Monistat allows for broader usage beyond acute treatment [19] International Expansion - The international segment accounts for about 16% of sales, with expected growth rates exceeding 5% [20] - Key brands include Hydralyte, a leading rehydration product in Australia, with plans for geographic expansion [20][21] Capital Allocation Strategy - The company prioritizes: 1. Investing in current brands for organic growth 2. M&A opportunities to consolidate consumer healthcare brands 3. Strategic share repurchases to offset dilution [23][24] - The company has a long-term leverage target of less than 3 times, currently at 2.4x [22] Challenges and Future Outlook - The Clear Eyes brand faced supply chain challenges, leading to a shortfall in revenue. The company is acquiring a critical supplier to enhance production capacity [26][32] - The long-term outlook remains positive, with expectations for continued free cash flow generation and strategic capital allocation to enhance shareholder value [26][27] Conclusion - Prestige Consumer Healthcare is well-positioned for sustainable growth through a diversified brand portfolio, strong financial management, and a focus on innovation and market expansion [27]

Core Insights - Bragg Gaming Group has secured a new financing agreement with the Bank of Montreal, providing credit facilities of up to US$6.0 million to support working capital and corporate needs [1][2][3] - The new credit facilities replace prior promissory note indebtedness, marking a strategic shift in the company's financial strategy [2][3] - The company aims to strengthen its financial foundation and accelerate shareholder value creation through this new partnership [7][10] Financial Details - The BMO Facilities are secured by a first-ranking security interest over all company assets and are repayable upon demand or after one year unless extended [3][4] - The expected borrowing costs for the BMO Facilities range from 6.9% to 7.9% for Prime-based loans and 5.9% to 6.9% for CORRA-based loans, with standby fees on unused portions between 0.75% and 1.75% per annum [5][6] - Management anticipates that the annualized borrowing costs will be less than half of the previous note debt [6] Strategic Focus - The company is prioritizing margin and cash generation over lower-margin revenue, with a target of achieving a 20% Adjusted EBITDA margin by the second half of 2025 [7] - Recent leadership additions in AI and innovation, along with partnerships with operators like Fanatics and Hard Rock Digital, are expected to drive growth opportunities [8] - The company has realized EUR 2 million in annualized synergies and is focused on sustainable, margin-accretive growth [7][9] Cybersecurity Update - Bragg Gaming Group has resolved a cybersecurity incident detected on August 16, 2025, with no indication of personal information being affected [11][12] - The company has assured customers regarding the security of its game titles and reported no negative impact on revenue or profitability from the incident [12][22] - Knowledge gained from the incident has been applied to enhance cybersecurity defenses [13]