All right. It feels like every other day we're hearing a deal about OpenAI doing a deal with a public company or some other private company uh with a an investment and valuations moving higher. Can we just talk very quickly about investing in private companies.We often hear a lot of hand ringing or people have a lot of hand ringing about investing in the public markets because valuations are stretched and we're very close to record highs. Do you have similar concerns about the private markets. So, it's a gr ...

It's time for Jim and stop trading. >> I'm into fitness. I'm into fitness whole.>> Is that a soft That's a soft pretzel, Mr. . Philly. >> I brought back from Philly.Um, next up is Adobe. >> Don't chew with your mouth. >> Want me to fill for a second.>> On the 11th, Adobe's going to report. This is this battle between these software companies that are not software as a service and software companies that are. And I Salesforce was a brutal come up and it was tough for me too to watch.>> I kept thinking it had ...

AI Hype and Adoption - The industry believes the AI hype surrounding companies like Nvidia is not overdone [2] - A study indicated that 95% of AI projects are not deriving value, raising concerns about overhyping AI [3] - The slow pace of AI implementation in businesses, particularly in enterprise AI, is a challenge [4] - Consumer applications like Chat GPT and Google Gemini are being adopted more readily than enterprise AI solutions [5] Software as a Service (SaaS) and AI - The industry suggests that SaaS companies like Salesforce and ServiceNow may face challenges if they don't adapt to support AI models [6] - The software industry needs to be rebuilt to integrate AI effectively, changing how users interact with software [7][8] Semiconductor Market and Competition - Broadcom is highlighted as a company to watch in the AI chip space [8] - Major hyperscalers are building their own chips, potentially challenging Nvidia's margins [9] - Hyperscalers' chip strategy will bifurcate, with external sales relying on Nvidia (over 90% until the end of the decade) and internal use shifting to custom chips [12] - Meta is reportedly building 6,000 rack-scale systems with its own silicon to power its data centers [14] Nvidia's Position and Future Outlook - Nvidia is currently the backbone of the AI infrastructure boom [8] - The industry anticipates Nvidia will maintain a strong position for at least two more years [13] - The AI chip market is projected to exceed $580 billion by 2029 [14]

Financial Data and Key Metrics Changes - Company reported record revenue of $19.1 million, up 33% year-over-year, with gross margins improving by 870 basis points to 61.6% [5][13] - Adjusted EBITDA doubled to $4.5 million, a 102% increase from the same quarter last year, and net income nearly doubled to $1.4 million, up 99% year-over-year [5][15] - Total operating expenses increased by 38.3% to $10.3 million, with SG&A rising 35.4% to $7.2 million [14] Business Line Data and Key Metrics Changes - Patient affordability business revenue grew 190% year-over-year to $7.75 million, accounting for 40.6% of total revenue, up from 18.7% in the same period last year [5][14] - Plasma compensation business revenue was $10.7 million, down 4.7% year-over-year but up 14.2% sequentially [7][8] Market Data and Key Metrics Changes - Company ended the quarter with 607 plasma centers, having onboarded 123 of the 132 awarded centers, achieving approximately 50% market share [8][9] - The company expects to onboard an additional 10 to 13 centers in the second half of the year [8] Company Strategy and Development Direction - Company plans to open a new patient services contact center to increase support capacity fourfold, addressing growing demand [6] - Introduction of a software as a service engagement platform at the International Plasma Protein Congress, indicating a shift towards becoming a broader technology provider [10] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the business prospects for the remainder of the year and into 2026, despite headwinds in the plasma business [12][17] - The company anticipates a return to organic growth in plasma collection starting in 2026 as the collection cycle improves [9] Other Important Information - Company raised its revenue guidance for 2025 to a range of $76.5 million to $78.5 million, reflecting year-over-year growth of 32.7% at the midpoint [17] - Expects net income for the year to be between $6 million and $7 million, or $0.10 to $0.12 per diluted share [18] Q&A Session Summary Question: Can you touch on the 30 to 40 programs expected to onboard in pharma? - Response indicated a mix of new clients and additional programs from existing clients, approximately fifty-fifty [22][23] Question: On the plasma side, does the expected addition of centers include the nine onboarded after June 30? - Response confirmed that it includes the nine centers [25] Question: Update on the donor management system timeline? - Response indicated targeting approval by the end of the year [26][28] Question: How does the average revenue of new centers compare to existing business? - Response stated that new centers are expected to be in line with existing averages [33] Question: What strategies are in place to retain donors from closing centers? - Response explained that donors will be directed to nearby centers, ensuring retention [35][36] Question: Breakdown of revenue within pharma? - Response clarified that revenue comes from program setup fees, monthly management fees, and various transactional fees [39][40] Question: Should the increase in revenue per pharma program be interpreted as a shift towards more specialty programs? - Response indicated that while there is a concentration on specialty products, the increase is also due to additional services offered [48][49]

Cybersecurity Threat Landscape - Iran's cyber capabilities are on par with other nation states and are leveraged as a direct extension of military force [2] - DHS and CISA have issued advisories for private sector corporations and government entities to be on high alert for cyber attacks [3] - Iran can inflict substantial damage in the US across manufacturing, supply chain, retail, and critical infrastructure without necessarily crossing the red line of loss of life [4] - Iran typically targets user accounts through phishing or social engineering, directly attacks external perimeters, and increasingly targets cloud infrastructure and SaaS providers [6] - Over 85% of critical infrastructure is privately owned, making it a vulnerable target [7] - Iran has been attempting to conduct operations for this type of event, potentially having undetected footholds in organizations and critical infrastructure [9] - Iran is specifically targeting industry verticals, which is not typical [10] Market Impact - Cybersecurity stocks such as Fortinet, CrowdStrike, and Zscaler are up by about 1.5% to 2.5% [5] - Palo Alto is up about 1.7% [6] Defensive Recommendations - Companies should be on high alert and diligent in putting up defenses and monitoring for specific issues to minimize damage [4][8] - Companies should be very diligent due to the current times [10]