Financial Data and Key Metrics Changes - The company reported total revenue of $57 million for fiscal year 2025, a 14% increase from $50.2 million in the previous year [12] - Research services revenue was $52.3 million, up 4% year over year, while data revenue contributed $4.7 million, reflecting initial data licensing deals [12] - Adjusted EBITDA for the year was $7.1 million, a significant improvement from an adjusted EBITDA loss of $3.9 million in fiscal year 2024 [16] Business Line Data and Key Metrics Changes - The core services business remains foundational, with targeted investments leading to improved quality, efficiency, and scalability [5] - The launch of the radiopharmaceutical services platform was a major milestone, expanding the company's offerings and capabilities [6][7] - Operating expenses rose by 7% in Q4 due to increased sales and marketing efforts, while R&D and G&A expenses saw modest declines [14] Market Data and Key Metrics Changes - The biotech and pharma R&D budgets remain constrained, but there are early signs of recovery, including a decrease in customer cancellations [6] - The company is focusing on strengthening relationships with big pharma, which are generally more resilient through market cycles [6] Company Strategy and Development Direction - The company aims to create the world's most comprehensive, clinically relevant tumor dataset, bridging the gap between legacy datasets and next-generation AIML-driven discovery pipelines [7] - The transition in leadership to Rob Braynen is expected to enhance the company's strategic direction, leveraging his extensive experience in life sciences and data-driven innovation [8] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about sustaining growth despite a tight marketplace, emphasizing the need for efficiency and better tools for marketing and sales [22] - The company anticipates a sequential increase in revenue and adjusted EBITDA profit in the upcoming quarters, supported by structural improvements made in fiscal year 2025 [17] Other Important Information - The company ended the year with $9.8 million in cash, up from $2.6 million a year ago, and remains debt-free [16] - The company plans to maintain cash neutrality in the next quarter, with projected cash growth in the second half of the year [17] Q&A Session Summary Question: Current environment and expectations for fiscal '26 - Management acknowledged that while the current environment is still tight, there are glimpses of improvement and they feel confident in sustaining growth [20][22] Question: Data licensing pipeline and expectations - Management indicated that the data licensing business is still in its early stages, with a growing pipeline and expectations for revenue to remain stable before increasing [24] Question: Radiopharmaceutical service agreements - Management described the new radiopharmaceutical services as having higher price tags and margins, with expectations of 50-60% margins due to high demand in the field [26] Question: Capital allocation and investments for growth - Management plans to focus investments on creating new datasets and enhancing data capabilities, with no significant capital expenditures expected [30][31] Question: Updates on Corellia AI programs - Management expressed excitement about the Corellia portfolio and ongoing efforts to raise funds for drug development, highlighting the potential of their drug targets [34]