Press Release Estimated Operational Results Full Year 2025 Vantiva meets its guidance at the budget forex rateADJUSTED EBITDA: €145 MILLION vs €109 million in 20241(€155 MILLION at budget forex rate)FCF2 POSITIVE: €62 MILLION vs -€25 million in 2024(€71 MILLION at budget forex rate) Paris (France) – March 27, 2026 – Vantiva (Euronext Paris: VANTI), a global technology leader in connectivity, announces its estimated unaudited operational results for the year 2025. The accounting basis used for these estimat ...

The connectivity layer is becoming one of the most critical bottlenecks amid the AI revolution, and I underestimated this structural factor when I initiated Credo ( CRDO ) coverage with a bearish opinion . InComing from an IT background, I have dived into the U.S. stock market seven years ago by managing portfolio of my family. Starting managing real money has been challenging for the first time, but long hours of mastering fundamental analysis of public companies paid off and now I feel very confident in m ...

Group 1 - The core observation about Credo Technology (CRDO) is the notable disparity between its strong operating performance and its stock price, particularly following a robust quarter in the AI connectivity sector [1] - The company has demonstrated significant growth, indicating a potential investment opportunity despite the current stock price not reflecting its operational success [1] Group 2 - The article emphasizes the importance of a disciplined, fundamentals-first investment approach, focusing on identifying mispriced quality companies and resilient business models [1] - The author aims to provide research-backed insights on various investment opportunities, including under-the-radar compounders and misunderstood tech platforms [1]

Financial Highlights - Sales in 2025 reached $130 million, increasing by 11% year-on-year [1] - Gross profit was $74 million, a year-on-year growth of about 15.5%, with a gross margin of 57%, an increase of 2.1 percentage points [2] - Net profit reached $45.5 million, a year-on-year increase of 19.5%, with a net profit margin improving to 34.9%, an increase of 2.3 percentage points [2] - Diluted EPS came to $0.0411 per share, which increased 19.1% year-on-year [2] Business Segment Performance - Fixed First Connectivity segment revenue increased by 3.5% year-on-year to about $18 million [3] - Mobile First Connectivity segment increased by 10.4% year-on-year to $73 million, driven by strong growth in high-end Mobile First routers and Starlink equipment [3] - Warranty and support services segment reached $28 million, up 12.3% year-on-year, while software licenses segment reached about $11 million, up 34% year-on-year [4] - Recurring revenues in warranty and support services and software licenses totaled about $38 million, an increase of 17% year-on-year, now accounting for close to 29% of total sales [4] Geographic Performance - North America sales increased 2.1% year-on-year to $76 million, accounting for about 59% of total sales, affected by tariff uncertainties [5] - EMEA sales increased about 28% year-on-year to $37 million, now accounting for about 29% of total sales [5] - Sales to Asia increased to $12 million, growing 36% year-on-year, attributed to large multi-year projects and growth in new markets like Japan [5] - Sales in Australia increased 14% year-on-year, making up about 4% of total sales [6] Company Strategy and Industry Competition - The company is focused on the connectivity market, serving a diverse range of verticals without a single dominant customer [8] - The company plans to spin off its North American business to better address different market requirements and improve competitiveness [12][13] - The company aims to maintain lean operations while leveraging AI tools for efficiency [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledges challenges from increased memory and component costs but believes the business model can mitigate these impacts [10][11] - The company sees significant growth opportunities in the U.S. and Europe, with a focus on becoming market leaders in various segments [32] - Management emphasizes the importance of reliable connectivity and the potential of new technologies like satellite communications [9] Other Important Information - The company has no debts and strong operating cash flows, with trade receivables turnover days at 67 days and inventory turnover days at 112 days [7] - The company is exploring AI applications to enhance product offerings and operational efficiency [29] Q&A Session Summary Question: Why not apply for marine certifications for cybersecurity compliance? - Management believes cybersecurity concerns can be addressed through third-party products rather than integrating them into their own [15][17] Question: Why not provide WireGuard support? - Management acknowledges the feedback and plans to provide support but emphasizes their focus on reliable connectivity rather than being feature-rich [19] Question: Will the spin-off unlock value? - Management views the spin-off as a way to better address market needs and improve operational efficiency rather than purely a financial maneuver [23][25] Question: What is the impact of the Starlink business? - The Starlink business is performing well, with plans for integrated products to enhance deployments [35][36] Question: How will the spin-off affect dividend payouts? - Management plans to continue distributing excess cash to shareholders, with the approach depending on market opportunities [33][49] Question: Will product development become independent post-spin-off? - Yes, both companies will operate independently, allowing for tailored product development [70][71]

Plover Bay Technologies (SEHK:01523) H2 2025 Earnings call February 26, 2026 04:30 AM ET Speaker1Good evening. Welcome to Plover Bay's annual results call for financial year 2025. I'm Christopher Tse, CFO of Plover Bay, and I will be hosting this call. Alex Chan, founder of the company, is also with us today. We have announced our latest annual results. The announcement can be found on HKEX website and our own website at ploverbay.com. The PowerPoint presentation that I'm currently sharing on the screen can ...

Core Insights - Vonage, part of Ericsson, will showcase its innovations at Mobile World Congress (MWC) 2026, emphasizing the transformation of mobile networks into enterprise platforms [1][2] Group 1: Thought Leadership - Vonage executives will lead keynotes and panels at MWC 2026, discussing the strategic role of mobile networks in the enterprise tech stack [3] - Topics include "AI in Motion: Reinventing Supply Chains" and "The Scam Threat Landscape – The Currency of Trust," featuring discussions with industry leaders from Google Cloud, AT&T, and NVIDIA [3] Group 2: Live Demonstrations - Attendees will experience Vonage's innovations at the Ericsson Pavilion, showcasing network APIs and solutions that create new value for developers and enterprises [4] - Demonstrations include "Powering Autonomous AI with Network Powered Solutions" and discussions on monetization opportunities in mobile networks [4] Group 3: Company Overview - Vonage creates technology that empowers enterprises and developers, focusing on AI-powered platforms for digital transformation [6][7] - The company's portfolio includes Network APIs, CPaaS, CCaaS, and UCaaS solutions, trusted by enterprises globally [7]

Investment Rating - The report does not explicitly provide an investment rating for the Greater Mekong Subregion Innovation Strategy for Development 2030 (GMS ISD) Core Insights - The GMS ISD aims to accelerate progress towards the ambitions of the Greater Mekong Subregion Economic Cooperation Program Strategic Framework 2030, focusing on unifying innovation direction, facilitating policy dialogue, building stakeholder skills, and promoting knowledge diffusion [17][20] - The strategy emphasizes three strategic approaches: digitalization, green transition, and connectivity, to enhance the subregion's integration into high value-added regional and global value chains [37][66] - The GMS ISD seeks to harness innovation for sustainable growth, improved connectivity, and enhanced well-being, promoting inclusive and collaborative solutions to regional challenges [37][56] Summary by Sections Introduction - The GMS ISD was agreed upon by GMS ministers in December 2023 to expedite progress towards GMS-2030, which addresses existing and new challenges [17][41] Vision of the GMS ISD - The vision is to build a subregional innovation system that enhances cross-border collaboration and maximizes innovation potential and efficiency [56][57] Strategic Approaches - **Digitalization**: Focuses on improving economic growth and competitiveness through digital technologies while managing potential inequalities [21][67] - **Green Transition**: Aims to address climate-related risks and promote sustainable growth through the adoption of green technologies and climate-resilient infrastructure [26][75] - **Connectivity**: Enhances trade and investment through improved infrastructure and regulatory frameworks, facilitating knowledge and technology exchange [27][80] Cross-Cutting Themes - **Knowledge and Technology Diffusion**: Facilitates the sharing of knowledge and technology across GMS countries to enhance innovation [29][98] - **Human Capital and Skills Development**: Focuses on building skills necessary for innovation and entrepreneurship [30][101] - **Start-Ups and Small and Medium-Sized Enterprises (SMEs)**: Supports innovation in SMEs by easing barriers and facilitating access to resources [105][109] - **Inclusivity**: Ensures that innovation addresses societal challenges, particularly for disadvantaged groups [110][111] Sector Strategies - The GMS ISD aligns with eight priority sectors, including agriculture, energy, environment, health, tourism, trade and investment facilitation, transport, and urban development, to promote innovation [114] Implementation - The GMS ISD will be implemented through various initiatives, including the GMS Task Force on Innovation, innovation forums, capacity building, and the establishment of a GMS Innovation Fund [32][33][35]

Core Insights - The SPDR S&P Kensho New Economies Composite ETF (KOMP US) targets U.S.-listed equities in "New Economies" subsectors such as robotics, AI, automation, and connectivity [1] - The underlying index employs a systematic screening process for investability and liquidity, with a modified equal weighting approach and semi-annual rebalancing [1] - Each subsector is weighted by its trailing Sharpe ratio, allowing faster-maturing themes to receive higher weight while early-stage themes are still represented [1] Portfolio Construction Methodology - The Composite aggregates all eligible subsector indices, with issuer weights derived from underlying subsector memberships and caps [1] - Country and sector exposures are determined by the taxonomy breadth rather than market-cap dominance [1] - The methodology includes lifecycle-aware subsector weighting, periodic reconstitution, and semi-annual rebalances to balance diversification, capacity, and turnover control [1]

Core Viewpoint - Mobix Labs (MOBX) has announced a public offering of 30,000,000 shares of its common stock, aiming for gross proceeds of approximately $6 million, which will be used for working capital and corporate purposes, including growth initiatives and M&A strategy [1] Group 1 - The public offering is expected to close on January 7, 2026, pending customary closing conditions [1] - D. Boral Capital is serving as the Sole Placement Agent for this offering [1] - The net proceeds from the offering will support the company's expansion in military, defense, aerospace, and connectivity markets [1]

Summary of Comcast's 2025 Conference Call Company Overview - **Company**: Comcast (NasdaqGS:CMCSA) - **Date**: December 08, 2025 - **Key Segment**: NBCUniversal Key Points and Arguments NBCUniversal Performance and Strategy - NBCUniversal achieved significant accomplishments in 2025, executing its planned initiatives effectively [2][4] - The Versant spin-off is highlighted as a strategic decision aimed at benefiting shareholders, allowing NBCUniversal to focus on its core assets [2][3] - The remaining linear assets include NBC, Telemundo, and Bravo, which are integral to the strategy for Peacock [3][4] - The media segment generated $40 billion in global revenues, with a focus on leveraging content for streaming and parks [5][19] Streaming and Peacock - Peacock is positioned as a domestic-focused streaming service, leveraging NBC's legacy and content [14][22] - The service has seen a significant increase in subscribers, reaching 41 million, and improved EBITDA by $900 million over the last 12 months [18][19] - Upcoming major sports events, including the Super Bowl and NBA All-Star Game, are expected to drive engagement and subscriber growth [15][19] - Peacock's strategy includes partnerships with platforms like Amazon and Apple to enhance distribution [18] Warner Bros. Acquisition Attempt - Comcast explored a potential acquisition of Warner Bros. but ultimately decided against pursuing a deal that would stress its balance sheet [10][11] - The proposal included a significant equity stake in a combined entertainment company, which would have changed Comcast's streaming aspirations [11][12] - The management team felt reassured about their current strategies after evaluating the Warner Bros. opportunity [12] Connectivity Business - New leadership under Steve Crone aims to enhance competitiveness and operational efficiency in the connectivity segment [30][31] - The competitive environment remains intense, with aggressive promotions and a focus on a new go-to-market strategy that simplifies pricing [34][35] - Comcast will not implement a price increase in the first half of 2026, which may impact RPU growth and EBITDA [34][35] Wireless Strategy - The wireless business has become profitable, with a focus on retention and customer acquisition through bundled services [38][39] - Comcast aims to increase awareness and market penetration of its wireless offerings, leveraging its broadband services [40][42] Business Market and MVNO Strategy - The business services segment has grown to over $10 billion in revenue, with a focus on small to mid-sized enterprises [46] - The partnership with T-Mobile for MVNO services is expected to enhance offerings in the business market [46] Financial Outlook - Comcast anticipates returning to revenue and EBITDA growth in the second half of 2026, driven by the media segment and improved profitability from Peacock [49][51] - The company maintains a strong balance sheet and continues to prioritize capital allocation towards growth segments [54][55] Dividend Policy - Comcast plans to maintain its dividend policy, with a projected increase for shareholders in 2026, reflecting a commitment to returning capital [55] Additional Important Insights - The consolidation in the media industry is viewed positively, as it may lead to market healing and better long-term strategies [24][25] - The company is focused on investing in its leadership teams and growth segments, including parks, studios, and connectivity [54][55]