Financial Data and Key Metrics - Non-GAAP revenues for Q4 2024 were $10.2 billion, with non-GAAP earnings per share (EPS) of $2.69 [6] - Chipset business revenues were $8.7 billion, and licensing business revenues were $1.5 billion [6] - QCT handset revenues were $6.1 billion, in line with expectations [20] - QCT IoT revenues increased 24% sequentially to $1.7 billion, driven by new product launches and channel inventory normalization [20] - QCT automotive revenues reached a record $899 million, up 11% sequentially and 68% year-over-year [21] - The company returned $2.2 billion to stockholders, including $1.3 billion in stock repurchases and $947 million in dividends [21] - Full-year fiscal 2024 revenues were $39 billion, with non-GAAP EPS of $10.22, representing 21% year-over-year growth [22] Business Line Performance - Handset revenues grew over 20% year-over-year, driven by premium-tier Snapdragon products and channel inventory normalization [23] - IoT revenues grew sequentially throughout the year, with full-year growth of 55% in automotive, driven by content increases in new vehicle launches [23] - The Snapdragon 8 Elite platform, featuring a second-generation custom Oryon CPU, delivered 30% faster performance with 57% less power [11] - The Snapdragon X Series platforms have expanded to 58 platforms, with strong traction in the PC market [12][38] - The Qualcomm IQ Series was introduced for industrial IoT, offering up to 100 TOPS of on-device AI performance [15] Market Performance - The company expects global 3G, 4G, and 5G handset units to increase by low to mid-single digits year-over-year in calendar 2024 [24] - QCT IoT revenues are expected to grow by more than 20% year-over-year, with growth across consumer, industrial, and networking segments [25] - QCT automotive revenues are forecasted to grow by 50% year-over-year, with flat sequential growth [25] - The company anticipates greater than 40% sequential revenue growth from Chinese OEMs in Q1 fiscal 2025 [24] Strategic Direction and Industry Competition - The company is transitioning from a wireless communications company to a connected computing company for edge AI [6] - Partnerships with Meta, Amazon, and others are driving the transition to AI-enabled edge computing [10] - The Snapdragon 8 Elite platform has been adopted by major OEMs, including Xiaomi, Honor, OPPO, and Vivo, with additional launches expected from Samsung and ASUS [12] - The company is expanding its presence in the automotive market with the Snapdragon Cockpit Elite and Snapdragon Ride Elite platforms, which offer significant AI performance upgrades [17][18] Management Commentary on Operating Environment and Future Outlook - The company remains focused on executing its growth and diversification strategy while maintaining operating discipline [8] - Management is optimistic about the momentum of edge AI across the business and the potential for a new cycle of semiconductor innovation [9] - The company expects to provide a financial framework for its diversification strategy and growth at the upcoming Investor Day on November 19 [34][26] Other Important Information - The company introduced the Networking Pro A7 Elite Platform, integrating Wi-Fi 7, 5G, and AI co-processing for enterprise and home networking [16] - The Snapdragon AR1 Gen 1-powered Ray-Ban Meta glasses are receiving new AI features, including real-time speech translation and location assistance [14] - The company announced the Qualcomm IoT Solutions Framework, aimed at reducing time-to-implementation and improving operational efficiencies for industrial IoT solutions [15] Q&A Session Summary Question: Strength in Automotive Segment - The strength in automotive is driven by new models launching with Qualcomm technology, reflecting a shift in market share rather than market conditions [28] Question: Arm Dispute - The company is confident in its broad, well-established license rights covering custom-designed CPUs, with the trial scheduled for December [29] Question: IoT Growth Drivers - IoT growth is driven by new product launches in PC, XR, and other areas, along with channel inventory normalization [32] Question: Sustainability of Double-Digit Growth - The company is not guiding beyond Q1 but will provide a financial framework at the Investor Day [34] Question: Chipset Gross Margins - Gross margins are expected to remain stable, with product mix playing a key role in future performance [36] Question: PC Market Contribution - The PC market is showing strong traction, with 58 platforms now in development, up from 20 at launch [38] Question: Automotive Exposure in China - The company has a diverse portfolio with design wins globally, not reliant on any specific geography [41] Question: Handset Market Dynamics - The handset market is seeing content increases and a shift towards premium-tier devices, with ASPs benefiting from more capable chipsets [44] Question: Licensing Business Seasonality - The licensing business is expected to follow normal seasonality, with no structural changes anticipated [48] Question: End Market Demand - The company is seeing strong demand, particularly from Chinese OEMs, with no significant inventory dynamics [51] Question: China Android Growth - The growth in China Android is driven by customer launch cadences and demand, not related to tariffs or pull-forward effects [54] Question: IoT Business Challenges - The IoT business is benefiting from new product launches and early demand for AI-ready industrial solutions [56] Question: Large Customer Risk - The company maintains its planning assumption of a 20% share for the 2026 launch, with no new information on customer internalization [57]

Tutor Perini Corporation (NYSE:TPC) Q3 2024 Earnings Conference Call November 6, 2024 5:00 PM ET Company Participants Jorge Casado – Vice President-Investor Relations Ronald Tutor – Chairman and Chief Executive Office Gary Smalley – President Ryan Soroka – Senior Vice President and Chief Financial Officer Conference Call Participants Steven Fisher – UBS Adam Thalhimer – Thompson Davis & Co Alex Rygiel – B. Riley Securities Michael Dudas – Vertical Research Partners Operator Good day, ladies and gentlemen, a ...

SiTime Corporation (NASDAQ:SITM) Q3 2024 Results Conference Call November 6, 2024 5:00 PM ET Company Participants Brett Perry - Shelton Group IR Rajesh Vashist - CEO Beth Howe - CFO Conference Call Participants Sujeeva De silva - ROTH Capital Quinn Bolton - Needham & Company Melissa Fairbanks - Raymond James Chris Caso - Wolfe Research Operator Good afternoon, and welcome to the SiTime's Third Quarter 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the ...

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) Q3 2024 Earnings Conference Call November 6, 2024 4:30 PM ET Company Participants Kevin Moran – Chief Financial Officer Mihael Polymeropoulos – Chairman, President and Chief Executive Officer Tim Williams – General Counsel Conference Call Participants Charles Duncan – Cantor Ram Selvaraju – H.C. Wainwright Operator Hello, and thank you for standing by. At this time, I would like to welcome you to the Q3 2024 Vanda Pharmaceuticals Inc. Earnings Conference Call. All li ...

Greystone Housing Impact Investors (NYSE:GHI) Q3 2024 Earnings Conference Call November 6, 2024 4:30 PM ET Company Participants Jesse Coury - CFO Ken Rogozinski - CEO Conference Call Participants Matthew Erdner - JonesTrading Jason Stewart - Janney Chris Muller - Citizens JMP Larry Linden - GHI Operator Greetings, and welcome to Greystone Housing Impact Investors LP Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will ...

Personalis, Inc. (NASDAQ:PSNL) Q3 2024 Earnings Conference Call November 6, 2024 5:00 PM ET Company Participants Caroline Corner - Investor Relations Chris Hall - Chief Executive Officer & President Aaron Tachibana - Chief Financial & Chief Operating Officer Rich Chen - Chief Medical Officer & Executive Vice President, R&D Conference Call Participants Mark Massaro - BTIG Thomas Flaten - Lake Street Capital Operator Good afternoon, everyone, and welcome to Personalis Third Quarter 2024 Earnings Conference Ca ...

Financial Data and Key Metrics - Total net sales for Q3 2024 were $250.4 million, up 18% YoY [49] - DAYBUE net product sales were $91.2 million in Q3, up 36% YoY and 8% sequentially [49] - NUPLAZID net product sales were $159.2 million in Q3, up 10% YoY [49] - Gross to net for NUPLAZID was 24.9% in Q3 [50] - R&D expenses decreased to $66.6 million in Q3 2024 from $157 million in Q3 2023 [51] - SG&A expenses increased to $133.3 million in Q3 2024 from $97.9 million in Q3 2023 [52] - Cash balance at the end of Q3 was $565.3 million, up $64.4 million from the prior quarter [52] Business Line Performance - DAYBUE sales were driven by continued penetration of the prevalent population and increased demand among continuing patients, with 923 patients receiving paid shipments in Q3 [21][22] - NUPLAZID achieved its highest-ever quarterly sales of $159.2 million, driven by increased active patients across all market segments [33] - DAYBUE has over 60% of active patients on treatment for 10 months or more, with persistency rates at 50% or higher beyond 12 months [23] - NUPLAZID's growth was supported by real-world evidence studies and label clarification, leading to higher demand and market share [34] Market Performance - DAYBUE has expanded its prescriber base to approximately 800 unique prescribers, with increasing penetration outside of RETT centers of excellence [24][25] - NUPLAZID benefited from a stable Parkinson's disease psychosis market and the launch of direct-to-consumer campaigns, which are expected to drive growth in 2025 [35][37] - DAYBUE received approval in Canada and is targeting a marketing authorization application submission in the EU in Q1 2025 [39][40] Company Strategy and Industry Competition - The company is focused on growing its commercial franchises (DAYBUE and NUPLAZID) and advancing its pipeline, including late-stage assets for Prader-Willi Syndrome and Alzheimer's disease psychosis [9][10] - Acadia is actively pursuing business development opportunities to expand its pipeline and set its growth trajectory for the future [20] - The company is leveraging real-world evidence and caregiver-reported benefits to drive adoption of DAYBUE and NUPLAZID [26][27] Management Commentary on Operating Environment and Future Outlook - Management highlighted the strong foundation of the business and the potential for future growth in both DAYBUE and NUPLAZID [57] - The company expects to see growth in both franchises in 2025, with DAYBUE sales guidance narrowed to $340-$350 million and NUPLAZID sales guidance narrowed to $600-$610 million [54] - The company is confident in its growth outlook based on the current rate of new patient starts and a growing base of enduring patients [32] Other Important Information - The company sold its rare pediatric disease priority review voucher for $150 million, with $50 million to be paid to Neuren as part of a licensing agreement [53] - Acadia is preparing for the European launch of DAYBUE, with plans to build out its team and expertise in Europe [39][94] Q&A Session Summary Question: Business Development and Early-Stage Pipeline - The company is focused on business development to complement its strong neuropsychiatry and rare disease franchises, with a strong financial position to support future deals [62][64] Question: DAYBUE Patient Dynamics and Holiday Season Impact - The company has a better understanding of the reverification process and a more mature patient base heading into 2025, which provides a dependable base for Q1 demand [66][67] Question: NUPLAZID Patient Profile and Label Change Impact - The mix of prescribers and patient age has remained consistent post-campaign launch, with no substantial change in patient demographics [71][72] Question: DAYBUE Sales and Patient Persistency - Over 60% of DAYBUE patients are on treatment for 10 months or more, with persistency rates flattening beyond 10 months, indicating a strong enduring patient base [76] - Discontinuations are primarily due to tolerability issues (diarrhea or vomiting) rather than lack of treatment effect [77] Question: DAYBUE Launch Strategy and Growth Focus - The company is focusing on enhancing efficacy messaging, managing the patient journey, and driving growth outside of centers of excellence to recharge DAYBUE growth [79][80][81] Question: DAYBUE Prescriber Dynamics - The company is focused on driving depth of prescribing among HCPs who have prescribed DAYBUE to one or two patients, with additional patients under their care [86][87] Question: DAYBUE International Expansion - The company is preparing for the Canadian launch of DAYBUE, with limited coverage expected in 2025 through private payers, and is targeting EU and Japan for future expansion [90][94] Question: European Rare Disease Launch Strategy - The company plans to launch DAYBUE in Europe post-registrational approval, with a focus on national HTA negotiations and leveraging its experience in managing rare disease launches [97][98] Question: ACP-204 Master Protocol and Data Release - The company plans to release Phase 2 data for ACP-204 at an appropriate time, with the potential to use the data to modify Phase 3 studies [102][113] Question: CEO's Vision for Acadia - The new CEO is focused on growing the commercial base, advancing the pipeline, and leveraging the company's strong financial position for future growth [114][115] Question: DAYBUE Growth Bottlenecks - The company is focused on educating physicians and caregivers about DAYBUE's real-world efficacy and clinical benefits to drive further adoption [119][120] Question: DAYBUE Patient Restarts - The company is working on strategies to address tolerability challenges and encourage restarts among patients who discontinued treatment, with restarts currently representing less than 10% of the patient base [125][126]

TriplePoint Venture Growth (NYSE:TPVG) Q3 2024 Earnings Conference Call November 6, 2024 5:00 PM ET Corporate Participants Jim Labe - Chairman and Chief Executive Officer Sajal Srivastava - President and Chief Investment Officer Matthew Galiani - Interim Chief Financial Officer Conference Call Participants Crispin Love - Piper Sandler Christopher Nolan - Ladenburg Thalmann Paul Johnson - KBW Operator Good afternoon, ladies and gentlemen. Welcome to the TriplePoint Venture Growth BDC Corp. Third Quarter 2024 ...

McKesson Corporation (NYSE:MCK) Q2 2025 Earnings Conference Call November 6, 2024 4:30 PM ET Company Participants Rachel Rodriguez - VP of Investor Relations Brian Tyler - Chief Executive Officer Britt Vitalone - Executive Vice President and Chief Financial Officer Conference Call Participants Lisa Gill - JPMorgan Kevin Caliendo - UBS Daniel Grosslight - Citi Charles Rhee - TD Cowen Brian Tanquilut - Jeffries Elizabeth Anderson - Evercore ISI Eric Percher - Nephron Research Stephanie Davis - Barclays Stephe ...

Cytokinetics, Incorporated (NASDAQ:CYTK) Q3 2024 Earnings Conference Call November 6, 2024 4:30 PM ET Company Participants Diane Weiser - Senior Vice President, Corporate Affairs Robert Blum - President & Chief Executive Officer Fady Malik - Executive Vice President, R&D Andrew Callos - Executive Vice President & Chief Commercial Officer Stuart Kupfer - Senior Vice President & Chief Medical Officer Sung Lee - Executive Vice President & Chief Financial Officer Conference Call Participants Tess Romero - JPMor ...