Mechelen, Belgium; October 1, 2025, 22:01 CET; Galapagos NV (Euronext & NASDAQ: GLPG) and its Board of Directors today issued the following statement: On May 13, 2025, Galapagos announced that its Board of Directors (the “Board”) had decided to explore all strategic alternatives for its cell therapy business (the “Cell Therapy Business”), including a potential divestiture of the Cell Therapy Business, with the goal of preserving shareholder value. As part of its review of strategic alternatives, over the pa ...

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $25.8 million, a year-over-year growth of approximately 72% compared to $15 million in Q2 2024, primarily driven by the acquisition of Markforged which contributed $16.1 million in revenue [11] - Excluding Markforged, revenue was $9.7 million for the quarter, down 35% year over year, reflecting strategic diversity tools and macroeconomic headwinds [12] - Gross profit for the quarter was $11.6 million, with a gross margin of approximately 44.7%, a decrease from 46.1% in the prior year [12] - Adjusted EBITDA for the quarter was a loss of $16.7 million compared to a loss of $14.6 million last year [12] Business Line Data and Key Metrics Changes - The integration of Markforged is progressing as planned, with efforts focused on identifying synergies and aligning operations [7] - The acquisition of Desktop Metal resulted in a non-cash impairment of $139.4 million and a loss from its operation of $30.4 million during the quarter [7] Market Data and Key Metrics Changes - Positive momentum is noted in regulated industries such as defense, with a critical defense order valued at approximately $3 million completed during the second quarter [9] - Global brands like Nestlé are expanding their use of Markforged systems, indicating scalability and tangible ROI for customers [9] Company Strategy and Development Direction - The company is exploring a comprehensive range of strategic alternatives to unlock shareholder value, engaging Guggenheim Securities and Houlihan Lokey as financial advisors [6] - The focus is on high-value technologies and opportunities, with a commitment to capital discipline and margin expansion [9][16] Management's Comments on Operating Environment and Future Outlook - Management acknowledges macroeconomic headwinds, particularly in industrial sectors, but expresses confidence in the foundation being built for long-term growth [8][9] - The company aims to lead the future of advanced digital manufacturing, focusing on delivering innovative solutions to customers [16] Other Important Information - The transition from IFRS to U.S. GAAP reinforces the company's commitment to financial transparency [11] - Total cash, cash equivalents, and investable securities stood at $551 million at the quarter end, providing substantial liquidity for strategic options [13][14] Q&A Session Summary - The Q&A session was not detailed in the provided content, and no specific questions or answers were recorded [18]

Core Viewpoint - Inspirato Incorporated and Buyerlink have mutually agreed to terminate their merger agreement, allowing Inspirato to continue operating independently without any termination fee [1][2]. Group 1: Company Overview - Inspirato is a luxury vacation club and property technology company that offers curated vacation options, including exclusive luxury vacation homes and accommodations at five-star hotels [4]. - The company emphasizes service, certainty, and value for discerning travelers, aiming to enhance the member experience and streamline operations [4][3]. Group 2: Strategic Decision - The decision to remain independent was influenced by shareholder perspectives and reflects Inspirato's confidence in its brand strength and future growth potential [2]. - Inspirato's leadership believes that the company has made significant progress over the past year, reinforcing its position in the luxury travel market [2][3]. Group 3: Leadership Statements - Ann Payne, Inspirato's Lead Independent Director, stated that the board is committed to maximizing shareholder value and will continue to explore strategic alternatives [2]. - Payam Zamani, Chairman and CEO, expressed confidence in the company's future and the strides made in enhancing member experiences and operational efficiency [3].

FDA Discussions & Roluperidone Update - The FDA has confirmed that Minerva Neurosciences must conduct an additional confirmatory clinical trial for roluperidone to address deficiencies cited in the Complete Response Letter received in February 2024 [3][4] - The trial will focus on patients diagnosed with schizophrenia who have impairing negative symptoms and stable positive symptoms, with a target of enrolling 25-30% of patients from the USA [4] - The primary endpoint of the trial will be the change from baseline in the PANSS Marder negative symptoms factor score at 12 weeks of treatment [4][5] - The FDA has indicated that a resubmission of the NDA could be considered if it includes a double-blind, placebo- or active-controlled trial lasting at least 52 weeks [4][6] Financial Results - For Q2 2025, research and development expenses were $1.3 million, down from $3.9 million in Q2 2024, primarily due to lower costs associated with drug substance validation and consultant fees [7] - General and administrative expenses for Q2 2025 were $2.1 million, compared to $2.4 million in Q2 2024, reflecting lower professional service fees [8] - The net loss for Q2 2025 was $3.3 million, or a net loss per share of $0.43, compared to a net loss of $8.2 million, or $1.09 per share, in Q2 2024 [10][17] Cash Position - As of June 30, 2025, the company had approximately $15.3 million in cash and cash equivalents, down from $21.5 million at the end of 2024 [11][16] Review of Strategic Alternatives - In light of the confirmatory study requirement and current cash position, the company is exploring strategic alternatives to maximize shareholder value [12]

Financial Data and Key Metrics Changes - In Q2 2025, the company reported revenue of $151.9 million, a 5% increase from $144.3 million in the previous year, driven by growth in both e-commerce and offline channels, despite softness in the marketplaces channel [15] - Gross profit for the quarter was $49.8 million, up 3% year-over-year, while gross margin decreased to 32.8% from 33.5% due to product mix and tariff impacts [15][16] - The GAAP net loss for the quarter was $12.7 million, compared to a loss of $8.7 million in the prior year, influenced by lower gross margins and higher marketing costs [16] - Adjusted EBITDA loss was $3.1 million, down from an adjusted EBITDA of $0.1 million in the prior year [16] - The company ended the quarter with $19.8 million in cash and drew on its revolver for additional financial flexibility [17] Business Line Data and Key Metrics Changes - E-commerce revenue and mobile app engagement reached record levels, with the mobile app accounting for 12% of e-commerce revenues and having over 1 million users [8] - The CarParts Plus membership program surpassed 7,000 paid members, indicating improved customer retention and engagement [8] - High-margin fee income continued to grow, supported by increased adoption of services like product and shipping protection [8] Market Data and Key Metrics Changes - The company is facing challenges in its marketplaces segment due to the influx of non-compliant products from China, which distorts the competitive landscape [10] - Tariffs and inflation are impacting consumer demand, particularly in discretionary categories, leading to a cautious approach to pricing [11] Company Strategy and Development Direction - The company is exploring strategic alternatives to maximize shareholder value, including a potential sale and strategic investments [4] - Focus areas include expanding product offerings, monetizing website traffic, scaling B2B offerings, and growing the mobile app business [19] - The company is realigning its cost structure and closing its Virginia facility to manage operational fixed costs [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing tariff impacts and pricing volatility, emphasizing a disciplined approach to protect gross margins and reduce operating expenses [14] - The company is committed to navigating near-term headwinds while focusing on long-term growth and profitability [14][20] - Investments in AI and automation are expected to enhance operational efficiency and financial performance over time [20] Other Important Information - The company has proactively invested in inventory to improve supply chain continuity ahead of tariffs, resulting in an inventory balance of $94 million at year-end [17] - The company is leveraging machine learning for search algorithms to strengthen its competitive edge [9] Q&A Session Summary - No specific questions and answers were provided in the content, thus this section is not applicable.

Core Insights - Enviri Corporation reported second quarter 2025 revenues of $562 million, a decrease of 8% compared to the same quarter in 2024, which had revenues of $610 million [4][5] - The company experienced a GAAP consolidated loss from continuing operations of $46 million in Q2 2025, compared to a loss of $10 million in Q2 2024 [7][4] - Adjusted EBITDA for Q2 2025 was $65 million, down from $86 million in the prior year, reflecting challenges in certain business segments [7][4] Financial Performance - The diluted loss per share from continuing operations on a GAAP basis was $0.58 in Q2 2025, compared to a loss of $0.16 in Q2 2024 [2][4] - Adjusted diluted loss per share from continuing operations was $0.22 in Q2 2025, a decline from adjusted earnings of $0.02 in the same quarter of 2024 [2][4] - The adjusted EBITDA margin for Q2 2025 was 11.5%, down from 14.1% in Q2 2024 [4] Segment Performance - Harsco Environmental reported revenues of $258 million in Q2 2025, down from $293 million in Q2 2024, primarily due to business divestitures and lower service levels [8] - Clean Earth achieved revenues of $246 million in Q2 2025, a 4% increase from $236 million in Q2 2024, driven by higher volumes and pricing [9] - Harsco Rail revenues fell by 28% to $58 million in Q2 2025, impacted by lower demand and operational challenges [10][11] Cash Flow and Guidance - Net cash provided by operating activities was $22 million in Q2 2025, down from $39 million in the prior year [12] - Adjusted free cash flow was $(14) million in Q2 2025, compared to $9 million in Q2 2024, reflecting lower cash earnings and higher capital spending [12] - The company revised its 2025 guidance for Adjusted EBITDA to a range of $290 million to $310 million, reflecting a cautious outlook for Harsco Rail [5][15] Strategic Initiatives - The Board of Directors has authorized management to explore strategic alternatives to unlock shareholder value, including a potential separation of the Clean Earth business [13] - The company aims to continue executing its strategic priorities while reviewing options to enhance business value [3][13]

Core Viewpoint - Enviri Corporation is exploring strategic alternatives to enhance shareholder value, including a potential tax-efficient sale or separation of its Clean Earth business while continuing its business plan execution [1][2][3]. Company Overview - Enviri Corporation is a global leader in providing environmental solutions for industrial and specialty waste streams, operating in over 150 locations across more than 30 countries [8]. Strategic Review - The Board of Directors has authorized a comprehensive review of strategic alternatives to address the gap between Enviri's public market valuation and its sum-of-the-parts value [3]. - The company is working with financial advisors BofA Securities and Jefferies LLC, and legal counsel Fried, Frank, Harris, Shriver & Jacobson LLP for this strategic review [4]. Financial Performance - Enviri released its second quarter earnings results for the period ending June 30, 2025, which can be accessed on the company's Investor Relations page [5].

Core Viewpoint - Farmer Bros. Co. has initiated a strategic review process to explore options for maximizing shareholder value, engaging independent financial and legal advisors to assist in this evaluation [1][3]. Group 1: Strategic Review Process - The company has formed a strategy committee composed of independent directors to evaluate a range of strategic alternatives aimed at enhancing shareholder value [3]. - North Point Mergers and Acquisitions, Inc. has been engaged as the financial advisor, while Winston & Strawn LLP will serve as legal counsel during this process [3]. - There is no set timetable for the review process, and the company will not disclose further developments until deemed appropriate [4]. Group 2: Operational Improvements - Over the past two years, Farmer Bros. has made significant strides in transforming its operations and improving business performance, particularly following the 2023 sale of its direct ship business [2]. - The company believes that the current timing is suitable for exploring additional options to maximize shareholder value [2]. Group 3: Company Overview - Founded in 1912, Farmer Bros. Co. is a national coffee roaster, wholesaler, and distributor of coffee, tea, and culinary products, with a diverse product line including organic and sustainably produced coffee [5]. - The company serves a wide range of U.S.-based customers, from small independent restaurants to large institutional buyers, and its primary brands include Farmer Brothers, Boyd's Coffee, and others [6].

Strategic Initiatives - Honeywell International 正在评估两个业务部门的战略替代方案 [1] - 此举旨在简化业务并在分拆为三家公司之前创造价值 [1] Corporate Restructuring - 霍尼韦尔国际公司即将分拆为三家公司 [1]

Financial Data and Key Metrics Changes - In Q1 2025, total revenue was $121 million, a decrease of 30% year over year, with subscription services revenue at $108 million, reflecting a 31% decline in subscribers to 3.2 million [19][21] - Adjusted EBITDA for Q1 was $19 million, representing a margin of 16%, while gross margin was 56%, impacted by a one-time charge of $16.2 million due to accelerated depreciation [21][20] - Free cash flow generated in Q1 was approximately $16 million, despite incurring about $8 million in cash outlays related to employee severance from restructurings [21][22] Business Line Data and Key Metrics Changes - The Skills and other revenue segment generated $14 million in Q1, which includes new revenue from content licensing, with two licensing deals executed generating $4 million in Q1 and an expected additional $7 million in Q2 [19][20] - Busuu, the language learning service, saw a 7% year-over-year revenue increase, with the B2B business achieving a 29% year-over-year revenue increase [9] Market Data and Key Metrics Changes - The company is experiencing ongoing industry headwinds, leading to a notable decline in traffic and subscriber acquisitions, which continues to pressure financial performance [24] - The restructuring plan announced is expected to yield non-GAAP expense savings of $45 million to $55 million in 2025 and $100 million to $110 million in 2026 [22][23] Company Strategy and Development Direction - The company is exploring strategic alternatives to maximize shareholder value, including potential acquisition or remaining a standalone public company, with positive early indications from interested parties [7][15] - The focus remains on diversifying revenue through licensing question and answer pairs and expanding institutional contracts, with a goal of reaching 40 institutional pilots by year-end [6][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that macroeconomic trends will continue to exert pressure on the business, with expectations that conditions may worsen before improving [11][12] - The company is taking proactive measures to align costs with business outlook, including further cost reduction plans and restructuring efforts [12][14] Other Important Information - The company repurchased $65 million of its 2026 convertible notes at a discount, enhancing its capital structure [18][22] - The restructuring will impact approximately 22% of the workforce, primarily affecting Chegg Study and Corporate Services, resulting in a 66% reduction in these areas [13][22] Q&A Session Summary Question: Can you provide more details on the licensing deals signed during the quarter? - Management highlighted that they are licensing question and answer pairs from their extensive archive, with current agreements being a small pilot with major tech companies, indicating potential for a larger business model in the future [27][30] Question: What feedback have you received from university partners regarding the pilots? - Management reported positive feedback from universities, with a growing number of pilots and a seat-based license model that aligns with the financial necessity of improving student success rates [31][33]