Pony AI Inc. (NASDAQ:PONY) Q4 2024 Results Conference Call March 25, 2025 8:00 AM ET Company Participants George Shao - Head of Capital Markets & Investor Relations James Peng - Chairman of the Board, Co-founder & Chief Executive Officer Tiancheng Lou - Director, Co-founder & Chief Technology Officer Leo Wang - Founding Member & Chief Financial Officer Conference Call Participants Verena Jeng - Goldman Sachs Ming-Hsun Lee - Bank of America Bin Wang - Deutsche Bank Purdy Ho - Huatai Securities Operator Ladie ...

Faten Freiha Good morning. This is Faten Freiha, VP of Investor Relations. Thank you for joining today's first quarter earnings call. To accompany this call, we've posted a set of slides on our IR website, ir. mccormick. com. With me this morning are Brendan Foley, Chairman, President and CEO; and Marcos Gabriel, Executive Vice President and CFO. During this call, we will refer to certain non-GAAP financial measures. The nature of those non-GAAP financial measures and the related reconciliations to the GAAP ...

Financial Data and Key Metrics Changes - Total revenues for Q4 2024 were RMB 7.7 billion, reflecting a year-over-year increase of 22%, while full-year revenues reached RMB 26.8 billion, up 19% year-over-year [8][37] - The company achieved its first GAAP net profit in Q4, amounting to RMB 89 million, with an adjusted net profit of RMB 452 million [9][40] - Gross profit margin improved to 36.1% in Q4, up from 26.1% in the same period last year, contributing to a 68% year-over-year growth in gross profit [9][38] Business Line Data and Key Metrics Changes - Advertising revenues increased by 24% year-over-year in Q4 to RMB 2.4 billion, and for the full year, it grew by 28% to RMB 8.2 billion [22][64] - Mobile games revenues surged by 79% year-over-year in Q4 to RMB 1.8 billion, and for the full year, it increased by 40% to RMB 5.6 billion [27][38] - VAS revenues rose by 8% in Q4 to RMB 3.1 billion and by 11% for the full year to RMB 11 billion [30][38] Market Data and Key Metrics Changes - Daily Active Users (DAUs) reached 103 million, and Monthly Active Users (MAUs) were 340 million, with users spending an average of 99 minutes daily on the platform [10][18] - The user base represents nearly 70% of China's Gen Z population, with an average age of 25, indicating a strong consumer demographic [10][66] Company Strategy and Development Direction - The company aims to leverage high-quality content and community engagement as core pillars for growth, focusing on expanding its commercialization efforts [13][34] - Bilibili plans to explore AI advancements to enhance its content offerings and improve user engagement, positioning itself to capitalize on emerging technologies [11][58] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the advertising business growth in 2025, expecting to maintain above-industry growth rates [24][74] - The company is committed to enhancing its advertising infrastructure and product offerings to drive efficiency and attract more advertisers [68][74] Other Important Information - The company successfully partnered with CCTV for the Spring Festival Gala, resulting in a 20% increase in DAUs during the event [96][101] - A share repurchase program of up to USD 200 million was announced, reflecting confidence in the company's cash flow generation [42][43] Q&A Session Summary Question: What is the overall strategy for 2025 after reaching breakeven? - Management highlighted the focus on content and community, aiming for sustainable growth and profitability while leveraging high-quality content as a core strategy [47][49] Question: Can you elaborate on the drivers for strong advertisement growth in 2024? - The advertising revenue growth was attributed to a high-quality user base and strong content offerings, with performance-based ads seeing over 40% growth [64][66] Question: What are the expectations for gross and net margins in 2025? - Management expects continued gross margin expansion, targeting a long-term gross margin of 40% to 45% [79][80] Question: How will the company expand its user base and enhance brand awareness? - The partnership with CCTV and similar projects are seen as key strategies to attract new users and improve brand equity [94][102]

BitFuFu Inc. (NASDAQ:FUFU) Q4 2024 Earnings Conference Call March 25, 2025 8:00 AM ET Company Participants Charley Brady - Vice President, Investor Relations. Lu Leo - Chairman and CEO Calla Zhao - Chief Financial Officer Conference Call Participants Operator Good day and thank you for standing by. Welcome to BitFuFu’s Full Year 2024 Earnings Conference Call. All participants are in a listen only mode. Please be advised today’s conference is being recorded. I’d now like to hand the conference over to your f ...

Atossa Therapeutics, Inc. (NASDAQ:ATOS) Q4 2024 Earnings Conference Call March 25, 2025 8:30 AM ET Company Participants Michael Parks - VP of Investor and Public Relations Steven Quay - President and CEO Heather Rees - CFO Conference Call Participants Emily Bodnar - H.C. Wainwright Edward Woo - Ascendiant Capital Operator Good morning, everyone, and welcome to the Atossa Therapeutics Fourth Quarter and Full Year 2024 Earnings Conference Call. My name is Joelle, and I will be your conference operator today. ...

Financial Performance and Key Metrics - The company generated net revenue of $86.7 million for the full-year 2024, representing growth of 33% year-over-year [7] - Adjusted EBITDA for 2024 was $2.7 million, an increase of $2.6 million compared to 2023 [8] - As of December 31, 2024, the company had $15.9 million in cash and $24.5 million available for future borrowings [9] Business Segment Performance - In the Sanara Surgical segment, net revenue increased by 39% year-over-year to $76.1 million, while bone fusion products saw a 6% increase to $10.5 million [7] - The Tissue Health Plus segment continued to incur losses as investments were made in preparation for commercialization [8][9] - Fourth quarter net revenue for the Sanara Surgical segment was $23.5 million, a 56% increase year-over-year [15] Market Data and Key Metrics - The company expanded its distributor network to over 350 partners by year-end 2024, up from more than 250 in 2023 [18] - Products were sold in over 1,300 facilities by year-end 2024, an increase from over 1,000 in 2023 [21] Company Strategy and Industry Competition - The company is focused on empowering physicians to improve patient outcomes while reducing healthcare costs, aiming for long-term growth and shareholder value [12] - A strategic partnership with Biomimetic Innovations was announced, which includes exclusive rights to market innovative products in the U.S. [29] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to enhance sales coverage and market penetration in 2025 [12] - The company plans to launch its first pilot program in the Tissue Health Plus segment during the second quarter of 2025 [27] Other Important Information - The company submitted 11 provisional patent applications in 2024, covering innovations in antimicrobial technologies and hydrolyzed collagen [11] - The company amended the terms of its CRG term loan to provide more flexibility for future borrowings [44] Q&A Session Summary Question: What is the game plan for ChemoMouthpiece in 2025? - Management indicated that the ChemoMouthpiece is being introduced to the market, with health economics and clinical study results expected soon [50][51] Question: How will success be measured for the THP pilot launch? - Success will be measured by the integration with the pilot customer's systems and the standardization of clinical workflows [56] Question: What business development efforts are in place beyond the initial pilot? - Significant efforts have been made in commercial development, including creating a value-based pricing model and recruiting a sales team [66]

Financial Data and Key Metrics Changes - The company achieved a year-over-year top-line growth of 11% to RMB189.2 million for the full year 2024, driven by strategic market expansion and new contract acquisitions [8] - Net revenues for Q4 2024 were RMB36.6 million, reflecting a 23% decrease from the same quarter last year, primarily due to a reduction in revenues from district-level flagship projects [9][30] - Net loss on a GAAP basis for Q4 2024 was RMB63.7 million, a decrease of RMB35.2 million year-on-year from RMB98.4 million in Q4 2023 [27][32] - Adjusted net loss non-GAAP for Q4 2024 was RMB40.1 million, a decrease of RMB51.0 million year-on-year from RMB81.8 million in Q4 2023 [27][33] - Gross margin for Q4 2024 was 33.6%, down from 43.4% in Q4 2023, mainly due to a lower-margin legacy project [28] Business Line Data and Key Metrics Changes - The SaaS subscription business model showed three-digit growth compared to the same quarter last year, supported by strong retention rates and multi-year subscription renewals [9] - The school-based subscription model experienced rapid growth with triple-digit growth in the number of newly subscribed students year-over-year [14] - More than 90% of customers whose contracts were subject to renewal chose to continue their subscriptions, with some expanding their coverage [15] Market Data and Key Metrics Changes - The company has continued to win teaching and learning SaaS projects, demonstrating strong customer stickiness and expanding services to more schools [12][13] - The shift towards a higher proportion of contracts under the SaaS subscription model requires longer periods for revenue recognition, impacting short-term revenue figures [30] Company Strategy and Development Direction - The company is focused on advancing educational digitalization and enhancing learning experiences through AI-driven solutions [35] - There is a commitment to strengthen core business operations while exploring new opportunities through innovation and sustained growth [35] - The integration of AI into product offerings aims to optimize teaching practices and improve learning outcomes [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong pipeline of AI-enhanced products and a customer-centric roadmap, positioning the company for sustainable growth [11] - The company is committed to enhancing customer satisfaction through innovative product offerings and operational agility [18][17] Other Important Information - As of December 31, 2024, the company had cash reserves of RMB359.3 million [29] - Total operating expenses for Q4 2024 were RMB81.4 million, a year-over-year decrease of 33.8% [32] Q&A Session Summary Question: No questions were raised during the Q&A session - There were no questions from participants during the Q&A session [36]

Financial Data and Key Metrics Changes - For Q4 2024, revenue totaled $3.04 million, an increase of 181% compared to $1.08 million for Q4 2023 [26] - Full year 2024 revenue reached $8.69 million, up 112% from $4.09 million in 2023 [26] - Gross profit for Q4 2024 was $1.13 million, compared to $0.09 million for Q4 2023, with a gross profit margin of 37.2% [28] - Net loss for Q4 2024 was $0.85 million, an improvement from a net loss of $1.1 million in Q4 2023 [31] Business Line Data and Key Metrics Changes - The growth in revenue was primarily driven by branded consumer products and contract manufacturing [27] - Contract manufacturing saw increased demand from existing customers and new partnerships, notably with Cintas and Owens & Minor [12] - The consumer products segment expanded significantly, with brands like Medagel, Kenkoderm, and Silly George contributing to growth [18] Market Data and Key Metrics Changes - The partnership with Cintas is expected to enhance brand awareness and revenue growth for SilverSeal [14] - The company anticipates a healthy pipeline of potential new customers for 2025, indicating strong market demand [14] Company Strategy and Development Direction - The company aims to continue driving innovation and growth across key business segments, focusing on long-term shareholder value [24] - NEXGEL plans to expand its product offerings in 2025, including new products under the Medagel and Kenkoderm brands [18][19] - The company is strategically managing R&D exploration to ensure high ROI and alignment with its vision [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving positive adjusted EBITDA in 2025, with expectations of continued revenue growth [37] - The company expects Q1 2025 revenue to be at least $2.75 million, with a target of at least $13 million for the full year [23] - Management highlighted the importance of partnerships and new product launches in driving future growth [24] Other Important Information - The company had a cash balance of approximately $1.81 million as of December 31, 2024 [33] - NEXGEL has 7,654,038 shares of common stock outstanding as of March 24, 2025 [33] Q&A Session Summary Question: Guidance on adjusted EBITDA and timeline to reach break-even - Management indicated that they expect to improve adjusted EBITDA in Q1 2025 and anticipate significant growth in Q2 as new customers come on board [37] Question: Details on the pipeline of new customers and industries - Management mentioned having four large opportunities progressing well, with varying timelines for onboarding and market entry [39] Question: Market opportunity for laser hair removal and promotional strategy - The company is partnering with Innovative Optics to leverage their relationships in the laser hair removal market, with plans to start selling products around mid-year 2025 [42][46] Question: Update on AbbVie Acoustic device launch - Management confirmed that they are on schedule to ship products to AbbVie in Q2 2025, with initial orders being received in Q1 [48]

Financial Data and Key Metrics Changes - Total revenue increased by 38% to $7.8 million, up from $5.6 million in 2023 [20] - Gross margin improved to 55% for the full year compared to 34% in 2023, reflecting a 125% year-over-year improvement [21] - Operating loss decreased to $3.8 million compared to $7.4 million in 2023, a reduction of 49% [24] - Net loss for the year was $4.4 million compared to $6.3 million in 2023, with loss per share shrinking by 67% to $0.85 [24] Business Line Data and Key Metrics Changes - New orders in the federal/military sector grew by 150% year-over-year [10] - Software and services new orders tripled, driven by a large North American telecom customer [11] - The GigaLine 900 solution family gained significant traction with numerous trials and installations underway [11] Market Data and Key Metrics Changes - North American revenues increased by 134%, representing a larger portion of total business [20] - Major deployments secured in smart city and transportation sectors, including cities like Washington, DC, and Seattle [12] Company Strategy and Development Direction - The company is prioritizing three strategic initiatives for 2025: introducing MetaShield into the installed base, strengthening go-to-market execution, and focusing on operational efficiency [15][18] - The introduction of MetaShield aims to generate recurring revenue through subscriptions and integrated network management software [15] - The company is positioned to capitalize on major infrastructure projects, particularly in federal and military markets [10][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth, particularly in federal, city transportation, and IoT markets, which are valued in the tens of billions [38] - The company is optimistic about its growth prospects, emphasizing the importance of strategic partnerships and market penetration [30] - Management acknowledged the challenges of predicting revenue due to the lumpiness of orders but expects growth to stabilize over time [36] Other Important Information - The company has nearly repaid all outstanding debt, with only a $774,000 bank credit line remaining [25] - Cash and cash equivalents stood at $2.3 million at year-end, down from $5.5 million in 2023, primarily due to debt repayment [26] - The company is evaluating selective debt facilities to support growth initiatives while minimizing equity dilution [27] Q&A Session Summary Question: What caused the sequential decline in revenue from Q3 to Q4? - Management explained that the business is characterized by lumpiness in orders, making it difficult to predict exact timing for larger orders and shipments [36] Question: Are expenses stable, or will they increase with growth? - Management indicated that while expenses have been decreasing, there will be controlled increases in sales and marketing to drive growth [42][44] Question: How is the company positioned to benefit from military spending in Europe? - Management clarified that their focus is on US military sales, treating international deployments similarly to domestic ones [47] Question: Is there a concern about a reverse stock split due to low share price? - Management stated there are no current plans for a reverse split and expressed confidence in future growth to improve share value [56] Question: What is the future outlook for the company financially and business-wise? - Management highlighted ongoing efforts in federal markets, IoT, and MDU markets, with expectations for growth but no guarantees of profitability in 2025 [108]

Financial Data and Key Metrics Changes - In Q4, the company reported pharma services revenue of $1.5 million with a gross margin of 40%, exceeding expectations [27][28] - The outgoing cash flow in Q4 was $5.6 million, favorable to the targeted spend of $6 million, finishing the year with $10 million in cash [33][34] - The company successfully raised an additional $29 million in February, with major shareholders leading the funding round [35][36] Business Line Data and Key Metrics Changes - The company launched GraftAssure, a kidney transplant test, which has been valuable for IVD product development [5][11] - The company expects to have 20 transplant centers signed up by the end of 2025, translating to approximately $20 million in future annual recurring revenue [21] Market Data and Key Metrics Changes - The company achieved Medicare claims expansion to monitor high-risk transplant patients, potentially expanding the total addressable market by up to 20% [10] - The rollout of iota this summer is expected to increase the use of more marginal organs, contributing to market expansion over the next five years [11] Company Strategy and Development Direction - The company is focused on finalizing assay design, launching clinical trials, and submitting data packages to the FDA, with a projected timeline for market approval by mid-2026 [18] - The company aims to deepen relationships with potential strategic partners through its pharma services business, which provides non-dilutive capital [28][30] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about 2025, emphasizing the importance of regulatory submissions and clinical trials [18] - The company is monitoring macro uncertainties around federal government funding that could affect timelines [15][17] Other Important Information - The company is committed to disciplined cash management, targeting about $6 million per quarter in cash burn for 2025 [39][38] - The company is focused on operational efficiency, which has allowed it to maintain a strong cash position [34] Q&A Session Questions and Answers Question: What is the regulatory pathway and timing for FDA approval? - The company is budgeting seven months for the de novo pathway, as there is no clear predicate device for donor-derived cell-free DNA [44] Question: How many centers are required for the FDA package? - A minimum of three sites is required for reproducibility work, with expectations to double that in the US and include centers in Europe [46][49] Question: Will there be material revenue before FDA clearance? - The company does not project any material revenue from the RUO product this year, with significant revenue expected post-FDA clearance [57] Question: What support will Bio-Rad provide for clinical trials? - Bio-Rad is expected to provide support for instruments and consumables, offsetting a significant portion of trial expenses [60] Question: How will the company drive broader utilization post-FDA approval? - The company plans to bridge reimbursement from its service lab to the kitted product, expecting faster adoption within the MolDX jurisdiction [68] Question: How easy is the offering to integrate into existing workflows? - The workflow is streamlined, requiring only two pipetting steps, making it easy for existing labs to adopt [75]