Q2 2025 Earnings A U G U S T 2 0 2 5 Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This presentation contains "forward-looking statements" about Expedia Group's financial performance, operating results, and guidance, which may include, but are not limited to, statements relating to future gross bookings; revenues; expenses; margins and margin expansion, including EBITDA margin expansion; profitability; net income (loss); earnings per share; and other measures of results of ...

Core Insights - Perimeter Solutions reported a net loss of $32.2 million for the second quarter of 2025, with an adjusted net income of $57.1 million, indicating a significant shift from the previous year's net income of $21.7 million [1][4][27] - The company's adjusted EBITDA for the second quarter increased by 41% to $91.3 million, driven by strong performance in both Fire Safety and Specialty Products segments [1][4][22] Financial Performance - Net sales for the second quarter rose by 28% to $162.6 million compared to $127.3 million in the same quarter last year [4] - Fire Safety net sales increased by 22% to $120.3 million, while Specialty Products net sales surged by 47% to $42.4 million [4] - Year-to-date net sales increased by 26% to $234.7 million, with Fire Safety sales up 27% to $157.4 million and Specialty Products sales up 23% to $77.2 million [4] Earnings Metrics - Loss per diluted share for the second quarter was $0.22, compared to earnings per diluted share of $0.14 in the prior year [4][27] - Non-GAAP adjusted earnings per diluted share increased to $0.39 from $0.25 in the previous year [4][27] - Year-to-date adjusted earnings per share rose to $0.41 from $0.23 in the prior year [28] Segment Performance - Adjusted EBITDA for the Fire Safety segment increased by 40% to $77.7 million, while the Specialty Products segment saw a 48% increase to $13.7 million [4][24] - The Fire Safety segment's strong performance is attributed to its role as a manufacturer of fire management products and services [9] Capital Allocation - The company repurchased 2.9 million shares of common stock at an average price of $11.13 per share during the quarter [12] - In May 2025, the company settled trade secret litigation and acquired related assets for $20 million in cash [12]

Core Insights - eToro Group Ltd. reported strong financial results for Q1 2025, highlighting an increase in net contribution and a focus on sustainable growth [1][3][4] Financial Highlights - Net contribution rose by 8% year-on-year to $217 million, up from $201 million in Q1 2024, primarily due to increased trading activity [6] - Net income (GAAP) was $60 million, a decrease from $64 million in Q1 2024, attributed to higher marketing and growth investments [6] - Adjusted EBITDA (non-GAAP) was $80 million, down from $87 million in the prior year, with an adjusted EBITDA margin of 37%, compared to 43% in the previous year [6] - Funded accounts increased by 14% year-on-year to 3.58 million, driven by user acquisition and retention efforts [6] - Assets under Administration grew by 21% year-on-year to $14.8 billion, compared to $12.2 billion [6] Business Developments - eToro launched new products and services, including futures in Europe and options in the UK, expanding its range of over 130 cryptoassets [7] - The company introduced a commodities portfolio in partnership with WisdomTree and launched securities lending in Europe [7] - eToro began rolling out crypto to fiat services and partnered with local financial institutions to offer virtual bank accounts [7] - The company achieved a MiCA permit from CySec, allowing it to provide crypto services across the EU, marking a significant regulatory milestone [8] Market Positioning - eToro's CEO emphasized the importance of AI in transforming the investing landscape and the company's commitment to empowering retail investors [2] - The company aims to drive sustainable growth and profitability, creating value for shareholders [2]

Financial Data and Key Metrics Changes - In 2024, the company achieved year-over-year organic sales growth of 1.5% with an adjusted operating income margin of 21.5% and adjusted diluted earnings per share of $1.14 [18] Business Segment Data and Key Metrics Changes - In the healthcare segment, the company expanded its leadership position and gained market share in nearly 80% of the segments, including key brands like Tylenol, Zyrtec, and Nicorette [16] - The essential health segment maintained a healthy mid-single-digit growth rate and delivered volume growth in North America, EMEA, and Latin America [16] - In skin health and beauty, the company grew both volume and value in EMEA and Latin America, despite not meeting expectations in North America and Asia Pacific [16] Market Data and Key Metrics Changes - The company reported significant improvements in consumer engagement and brand presence both in-store and online, contributing to overall growth [16] Company Strategy and Development Direction - The company established three strategic priorities for 2024: reaching more consumers, freeing up resources for competitive investment, and fostering a performance-driven culture [15] - The company aims to leverage superior science, expert recommendations, and consumer insights-led innovation to enhance brand growth in 2025 [18][19] - The company is focused on activating new revenue growth management capabilities to improve pricing and promotional strategies [19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the dynamic external environment but expressed confidence in realizing compounding benefits from significant work done to date [21] - The company anticipates exciting opportunities ahead to create value for stakeholders and solidify its position as a consumer health leader [21] Other Important Information - The company is executing a two-year initiative to deliver $350 million of annualized cost savings by 2026 [17] - A new Chief Financial Officer, Amit Banati, has joined the company, expected to contribute to its next chapter [21] Q&A Session Summary Question: Why does the company not use GAAP earnings instead of adjusted non-GAAP earnings? - The company believes that presenting non-GAAP measures is relevant and useful for investors, as it allows for a better understanding of operating performance and easier comparison with peers in the industry [24]

Core Insights - Perimeter Solutions reported a strong financial performance for the first quarter of 2025, with a net income of $56.7 million compared to a net loss of $82.6 million in the same quarter of the previous year [1][5][26] - The company achieved an adjusted EBITDA of $18.1 million, reflecting a 49% increase from $12.1 million in the prior year quarter, driven by strong execution and early season fire activity [1][5][21] - Net sales increased by 22% to $72.0 million, with the Fire Safety segment experiencing a significant 48% growth [5][11] Financial Performance - First quarter net income was $56.7 million, or $0.36 per diluted share, compared to a net loss of $82.6 million, or $0.57 loss per diluted share in the prior year [5][26] - Adjusted earnings per diluted share were $0.03, an improvement from an adjusted loss per share of $0.01 in the previous year [5][27] - The Fire Safety segment's net sales rose to $37.2 million, while Specialty Products net sales increased to $34.9 million [5][11] Capital Allocation - On March 28, 2025, Perimeter acquired certain product lines for $10.0 million, which will be integrated into its IMS business within the Specialty Products segment [3] - The company repurchased 0.9 million shares of common stock at an average price of $9.19 per share during the quarter [6] Segment Performance - Fire Safety adjusted EBITDA increased to $10.1 million, compared to a loss of $0.2 million in the prior year quarter [5][21] - Specialty Products adjusted EBITDA decreased by 35% to $8.0 million from $12.4 million in the previous year [5][21] Cash Flow and Balance Sheet - Cash and cash equivalents at the end of the quarter were $200.1 million, up from $198.5 million at the end of the previous quarter [19][18] - The total assets of the company were reported at $2.4 billion, with total liabilities at $1.2 billion [18][17]

Financial Performance - Forge Global achieved its best revenue quarter as a public company in Q1 2025, driven by strong Marketplace revenue[16] - Total revenues, less transaction-based expenses, were $25.1 million in Q1 2025, compared to $18.3 million in Q4 2024 and $19.2 million in Q1 2024[18] - Marketplace revenue increased to $16.0 million in Q1 2025 from $8.6 million in Q4 2024 and $8.5 million in Q1 2024[18] - Custodial administration fees were $9.3 million in Q1 2025, down from $10.0 million in Q4 2024 and $10.7 million in Q1 2024, impacted by rate reductions in Q4 2024[17, 18] - Adjusted EBITDA was a loss of $8.9 million in Q1 2025, an improvement from a loss of $10.9 million in Q4 2024 and $13.5 million in Q1 2024[22] - Net loss was $16.2 million in Q1 2025, compared to $16.0 million in Q4 2024 and $19.0 million in Q1 2024[22] Operating Expenses - Total operating expenses were $41.6 million in Q1 2025, compared to $37.0 million in Q4 2024 and $44.2 million in Q1 2024[22] - The increase in operating expenses from Q4 2024 to Q1 2025 is attributed to variable costs linked to revenue growth, costs related to CFO transition, investments in NGP, and other factors[22] Corporate Actions - Forge Global completed a reverse stock split and commenced a share buyback program[17] - Net loss per share, adjusted for the reverse stock split, was ($1.29) in Q1 2025, ($1.26) in Q4 2024, and ($1.55) in Q1 2024[23]

Core Insights - Patrick Industries, Inc. reported a 7% increase in net sales to $1.0 billion for Q1 2025, driven by strong demand in the RV and Manufactured Housing markets, which offset declines in Marine and Powersports sectors [3][7] - Operating income rose approximately 10% to $66 million, with an operating margin of 6.5%, reflecting a slight increase from the previous year [4][7] - Net income increased by 9% to $38 million, or $1.11 per diluted share, although adjusted diluted earnings per share decreased from $1.19 to $1.11 due to dilution from convertible notes [5][7] Financial Performance - Net sales reached $1.0 billion, a $70 million increase from Q1 2024, with RV revenue growing by 14% and Housing revenue by 7%, while Marine and Powersports revenues declined by 4% and 2%, respectively [3][7] - Operating income was $66 million, up from $59 million in the prior year, with an operating margin of 6.5%, a slight increase from 6.4% [4][7] - EBITDA increased by 9% to $108 million, while adjusted EBITDA rose by 4%, with an adjusted EBITDA margin of 11.5% [7][24] Cash Flow and Capital Allocation - Cash flow from operating activities grew to $40 million compared to $35 million in Q1 2024, with free cash flow on a trailing twelve-month basis at $251 million [9][25] - The company returned over $22 million to shareholders through share repurchases and dividends, maintaining a total net liquidity of $745 million at the end of Q1 [10][11] - Long-term debt increased by approximately $110 million due to acquisitions, resulting in a total net leverage ratio of 2.7x [9][11] Market Sector Performance - Revenue breakdown for Q1 2025: RV (48% of revenue), Housing (29%), Marine (15%), and Powersports (8%) [8] - The RV market saw a 14% increase in revenue, while the Marine sector experienced a 2% decline [13] - Estimated content per wholesale RV unit remained flat at $4,870, while content per wholesale MH unit increased by 4% to $6,671 [13] Strategic Initiatives - The company completed acquisitions of Elkhart Composites and Medallion Instrumentation Systems, enhancing its product offerings and market position [6][10] - Ongoing investments in automation, new product development, and strategic acquisitions are aimed at strengthening customer service and capturing market opportunities [6][14] - The company remains focused on maintaining financial strength and flexibility to navigate macroeconomic uncertainties while driving long-term shareholder value [12][14]