Financial Data and Key Metrics Changes - Total revenue for Q2 2026 was $15 million, an increase of 11% year-over-year from $13.5 million in Q2 2025, driven by improved conversion of booked work due to a lower level of cancellations [9][10] - Gross margin improved to 52% compared to 45% in the same quarter last year, supported by operational efficiencies [10] - Adjusted EBITDA for the quarter was approximately $800,000, with income from operations at $185,000 [9][10] Business Line Data and Key Metrics Changes - The company reported continued success in radiolabeling and radiopharmaceutical support workflows, which are expected to become increasingly significant in their service offerings [4][5] - Investments in the data platform are ongoing, enhancing its functionality and expanding utility for pharma partners, which is viewed as a critical long-term value driver [5][6] Market Data and Key Metrics Changes - The broader pharma and biotech budgets are gradually improving, with customer engagement and opportunity pipeline generation showing signs of recovery [3] - A recent survey indicated that over a third of biotech executives plan to increase outsourcing next year, reflecting a positive trend in the market [15] Company Strategy and Development Direction - The company aims to deliver year-on-year revenue growth, invest in growth levers like data platforms, and maintain fiscal discipline to achieve positive Adjusted EBITDA without shareholder dilution [2][3] - The focus remains on execution, maximizing conversion of existing bookings, and improving operational efficiency [3][8] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding booking momentum as R&D budgets reset for calendar 2026, indicating a potential for improved performance in the next year [3] - The company is encouraged by its operational discipline and strategic investments in areas where it holds competitive advantages, such as its tumor bank and data platform [7][8] Other Important Information - Corelia, a wholly-owned subsidiary focused on target discovery, is making progress in discussions with potential venture capital partners, with plans to redirect investment dollars toward accelerating growth in the data business once external funding is secured [6] Q&A Session Summary Question: Has there been an uptick in inbound call volume regarding RFPs? - Management noted an improvement in opportunity generation and optimism about the market recovery, with a survey indicating increased outsourcing plans among biotech executives [15] Question: Are sales and marketing investments targeting the data opportunity exclusively? - Management highlighted a recent hire, Dr. Tamir Farid, to lead the data business, emphasizing the strategic and domain expertise he brings to enhance growth opportunities [16] Question: What are the expectations for gross margins moving forward? - Management expects gross margins for the service business to remain in the 50%-52% range, with potential fluctuations due to various expenses, including outsourced lab service costs [19][20] Question: Can you comment on the progress of Corelia's drug candidates? - Management refrained from sharing specific details but expressed excitement about the data and traction with venture capital partners, indicating that more information will be shared in the future [23]

Core Agreement - Vast Data has signed a commercial agreement worth $1.17 billion with CoreWeave, extending their existing partnership [1] - CoreWeave will utilize Vast as its primary data platform under this agreement [1] Industry Context - The partnership is supported by Nvidia, indicating a strong backing from a major player in the AI sector [1]

Core Insights - Palantir Technologies' shares increased by 16.4% in September, likely driven by renewed investor interest in AI stocks and the positive reception of the company's August update [2][3][8] - The company's second-quarter revenue surged by 48% year-over-year to approximately $1 billion, with U.S. commercial revenue growing by 93% and U.S. government revenue by 53% [5] - Palantir achieved GAAP profitability with a 27% operating margin, which, along with an increase in full-year guidance, positively influenced market sentiment [6] AI Market Context - The AI sector saw significant developments in September, with companies like Oracle and Nvidia making headlines due to their strong performance and AI-related agreements, which likely contributed to Palantir's stock performance [7][8] - The overall optimism for AI stocks, including Palantir, was reflected in the market, as investors continued to digest the implications of the company's impressive second-quarter results [10] Valuation Considerations - Palantir's market capitalization is approximately $444 billion, with trailing-12-month revenue of about $3.4 billion, resulting in a price-to-sales multiple exceeding 130, indicating expectations for exceptional future growth [11]

Financial Data and Key Metrics Changes - The company reported Q1 revenue of $14 million, rebounding from $12.4 million in Q4 of fiscal 2025, indicating a recovery from previous softness [3][7] - Year-over-year revenue comparison appears flat, but the current quarter is viewed as a return to stability and the start of renewed momentum [8] - GAAP loss from operations was $0.5 million compared to income of $1.3 million in the same quarter last year, with adjusted EBITDA slightly positive at $60,000 [8][9] Business Line Data and Key Metrics Changes - Research services contributed $13.7 million to the total revenue, while the data business provided the remaining amount [7] - Gross margin decreased to 43% from 50% year-over-year, primarily due to increased outsourced lab service costs [8][9] - Operating expenses rose to $6 million, with intentional increases in R&D and sales and marketing to support the data business [9] Market Data and Key Metrics Changes - Customer cancellations have decreased, and bookings to revenue conversion has improved, indicating stronger customer relationships [4] - The macro environment remains challenging, but there are signs of improvement in biotech funding and R&D budgets [3][4] Company Strategy and Development Direction - The company aims to drive value opportunities in Corellia and its data business while expanding its core TOS platform [3][4] - The focus is on integrating radiopharmaceutical services to enhance customer offerings and improve gross margins [4][5] - The company is optimistic about the long-term potential of AI and machine learning in drug discovery [5] Management's Comments on Operating Environment and Future Outlook - Management expresses cautious optimism regarding the investment landscape, noting improvements in budget constraints [20][21] - The company anticipates sequential revenue growth and margin expansion as operations improve [11] - There is confidence in the ability to execute and deliver shareholder value, supported by a strong balance sheet and no debt [11] Other Important Information - The company ended Q1 with $10.3 million in cash, up $0.5 million from year-end, and expects to remain cash neutral in Q2 [10][11] - Management emphasizes the importance of investments in R&D and sales and marketing for future growth [9] Q&A Session Summary Question: Changes in data licensing business strategy - Management confirmed no changes in strategy for the data licensing business, with early wins and customer engagement being encouraging [14] Question: Size of the opportunity in the data business - Management stated it is too early to predict the exact size and success of the data opportunity, but there is potential and interest [15] Question: Deal structuring for Corellia - Management is looking for external partners and funding to support Corellia's advancement, with compelling data emerging from the platform [16] Question: Broader investment landscape - Management described the environment as tough but cautiously optimistic about improvements in market conditions [20] Question: Revenue expectations for Q2 - Management anticipates revenue will increase on a quarterly basis but did not provide specific guidance on numbers [27]