Financial Data and Key Metrics - Q3 2024 revenue reached a record $113 million, up 47% sequentially and 206% year-over-year [9] - Non-GAAP operating margin expanded to over 32%, with non-GAAP EPS of $0.23 [9] - Q4 2024 revenue guidance is between $126 million and $130 million, representing an 11% to 15% sequential increase [32] - Non-GAAP gross margin for Q4 is expected to be approximately 75%, with operating expenses projected between $54 million and $55 million [33] - Cash flow from operating activities in Q3 was $63.5 million, with cash, cash equivalents, and marketable securities totaling $887 million at the end of the quarter [31] Business Line Data and Key Metrics - Aries product family remains the largest revenue contributor, driven by third-party GPU-based AI platforms and internally developed AI accelerators [28] - Taurus revenue diversified beyond 200-gig applications, with initial production ramp of 400-gig Ethernet-based systems [29] - Leo CXL revenues are driven by preproduction volumes for next-generation CXL-capable compute platforms [29] - Scorpio Smart Fabric Switch family began shipping in preproduction volumes during Q3, with design wins for both P-Series and X-Series [29][13] Market Data and Key Metrics - The Scorpio Smart Fabric Switch family is expected to expand the total market opportunity for the company's four product families to over $12 billion by 2028 [11] - Scorpio P-Series addresses a multibillion-dollar opportunity with a ground-up architecture designed for AI data flows [20] - The X-Series is expected to have a larger total addressable market (TAM) over the long term, with a current TAM of nearly zero [50] Company Strategy and Industry Competition - The company has joined the Ultra Accelerator Link (UALink) Consortium, positioning itself at the forefront of developing high-speed, low-latency interconnects for scale-up connectivity between accelerators [14] - The Scorpio Smart Fabric Switch family is designed to address the increasing complexity of connectivity challenges within AI infrastructure, both for scale-out and scale-up networks [11][12] - The company's COSMOS software stack provides hyperscaler customers with tools to monitor and optimize their infrastructure, enhancing the value of its hardware solutions [15][38] Management Commentary on Operating Environment and Future Outlook - Management highlighted the criticality of connectivity in modern AI clusters, driven by trillion-parameter model sizes and faster, more complex AI accelerators [10] - The company expects to benefit from shorter AI platform refresh cycles and increased reliance on trusted partners by hyperscalers [15] - Management is optimistic about the market opportunity for internally developed AI accelerator platforms, which could be larger than third-party GPU-based systems [21] Other Important Information - The company demonstrated the industry's first PCIe Gen 6 fabric switch at the 2024 OCP Global Summit, with preproduction volumes already shipping [13] - Non-GAAP financial measures are used to evaluate performance, with reconciliations provided in the earnings release [6] Q&A Session Summary Question: Confidence in sequential growth and visibility for the first half of next year [35] - The company has strong visibility due to a diversified revenue stream, with Taurus and Aries product lines expected to grow into 2025 [36] Question: Differentiators for Scorpio switch portfolio, particularly the COSMOS software stack [37] - The Scorpio family is purpose-built for AI applications, with a software-first approach and integration with COSMOS providing a holistic view of AI infrastructure [38] Question: Ramp timeline for Scorpio business and potential size in 2025 [40] - Scorpio is expected to exceed 10% of revenues in 2025, with production volumes ramping throughout the year [41] Question: Leo CXL memory controller applications and potential impact in 2025 [42] - Leo CXL is transitioning from the "crawl" to "walk" stage, with production volumes expected to begin in 2025 [42] Question: Product mix and strength in Q3 revenue [44] - Aries revenue, driven by third-party GPUs and internally developed AI accelerators, was the primary driver of Q3 upside [45] Question: Margin impact of Scorpio product line [46] - Scorpio is not expected to impact long-term gross margin targets of 70%, with a wide range of margin profiles across the product portfolio [46] Question: Competitive positioning and opportunity for Scorpio X-Series [49] - The X-Series is expected to have a larger TAM over time, with customization capabilities through the company's software-defined architecture [50] Question: Diversification of Taurus product family across customers [51] - The Taurus business is expected to broaden in 2025, with increased diversification as data rates go higher [52] Question: Timeline for PCIe Gen 6 volume production [53] - Volume production for PCIe Gen 6 will depend on customer timelines, with opportunities growing across Gen 5 and Gen 6 implementations [53] Question: Relationship between Scorpio and PCIe Retimer business [54] - The company's software-based architecture and COSMOS integration provide a unique advantage in optimizing system-level configurations [54] Question: Inflection point for ASIC business growth [56] - Hyperscalers are increasing investments in internal ASIC programs, driving growth for the company's product lines [57] Question: Average content per GPU and impact of Scorpio [59] - The average content per GPU is increasing due to ASP uplifts with new protocol generations and the introduction of Scorpio [60] Question: Revenue contribution from Scorpio P-Series and X-Series in 2025 [62] - Both P-Series and X-Series are expected to contribute to revenues in 2025, with X-Series ramping in the back half of the year [63] Question: Attach rates for Scorpio P-Series and X-Series [64] - P-Series attach rate is 1:1 per GPU, while X-Series attach rate depends on the configuration of the back-end fabric [65] Question: Long-term diversification between merchant GPU and custom AI accelerator players [68] - The company expects to see a diversified revenue stream across merchant GPU and custom AI accelerator platforms, with multiple product lines contributing to growth [68]

WideOpenWest, Inc. (NYSE:WOW) Q3 2024 Results Conference Call November 4, 2024 4:30 PM ET Company Participants Andrew Posen - Vice President and Head, Investor Relations Teresa Elder - Chief Executive Officer John Rego - Chief Financial Officer Conference Call Participants Batya Levi - UBS Brandon Nispel - KeyBanc Capital Markets Operator Hello and welcome to the WideOpenWest Third Quarter 2024 Earnings Call. [Operator Instructions]. I would now like to turn the conference over to Andrew Posen, Vice Presid ...

Financial Data and Key Metrics - Revenue for Q3 2024 was approximately $7 million, driven by research fees from partnered programs, consistent with Q3 2023 [12] - Research and development expenses increased to $41 million, up $3 million from the previous year, due to ongoing program execution and internal pipeline investments [12] - Sales and marketing expenses decreased slightly to $3 million, while general and administrative expenses rose to $19 million, primarily due to intellectual property defense costs [13] - Net loss for the quarter was $51 million, including a non-cash impairment charge of $32 million related to discontinued development of next-generation transgenic mice [14] - Cash and equivalents stood at $670 million, with an additional $210 million in available government funding, bringing total liquidity to $880 million [18] Business Line Data and Key Metrics - The company initiated two new partner programs in Q3 2024, bringing the cumulative total to 95 programs with downstream participation [11] - ABD-147 received orphan drug designation from the FDA, highlighting the potential for future milestone fees and royalty payments [11] - The company expects research fee revenue to decline as it shifts focus to internal and co-development programs [12] Market Data and Key Metrics - The company completed the move to its new headquarters in Vancouver and is on track to bring its GMP manufacturing facility online in 2025 [8] - The company expanded its partnership with Eli Lilly, focusing on co-development collaborations with shared ownership of resulting assets [9] Company Strategy and Industry Competition - The company is transitioning from a platform company to a clinical-stage biotech, with a focus on advancing internal programs and building platform capabilities [6] - The first two pipeline programs, ABCL635 and ABCL575, are on track for CTA filings in Q2 2025, with a broad portfolio of discovery-stage programs in development [7] - The company is prioritizing co-development collaborations and leveraging its TCE platform, with updated data to be presented at CITSE [9] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's transition to a clinical-stage company, with a focus on delivering value to patients and shareholders [10] - The company anticipates further investments in its translational and development teams as the pipeline advances [8] - Management highlighted the strong liquidity position, with sufficient funds to support operations and investments for the next three years [18] Other Important Information - The company reported a non-cash impairment charge of $32 million related to the discontinuation of next-generation transgenic mice development [14] - Investments in property, plant, and equipment totaled $63 million, partially offset by government contributions and proceeds from the sale of a stake in Invatex [16][17] Q&A Session Summary Question: Competitive landscape for OX40 and OX40 ligand therapies [20] - Management discussed the advantages of OX40 ligand-targeted therapies, emphasizing the non-depleting mechanism of ABCL575 compared to competitors [21][22] - The company remains bullish on the potential of OX40 ligand antibodies, with preclinical data expected to be presented in 2025 [24] Question: Data expectations for T-cell engagers at CITSE [26] - The company will present updated data on its TCE platform, including programs demonstrating desired profiles in killing and cytokine response [27] Question: Independent development of TCE programs [30] - The company has the liquidity and capabilities to advance two to three new development candidates per year, with potential for equity financing or out-licensing in the future [31][32] Question: Clinical trial site requirements for government funding [35] - Phase 1 trials for ABCL575 and ABCL635 will be conducted in Canada to qualify for government funding, with potential expansion to the US or globally if needed [36][37] Question: Market potential and competition for ABCL635 [39] - ABCL635 targets a multi-pass transmembrane protein in metabolic and endocrine disorders, with a conservative addressable market of over $2 billion [40] Question: Ramp-up of spending and resource allocation [43] - The company expects R&D expenses to remain stable in 2025, with a significant reduction in CapEx as facility builds are completed [44] Question: Positioning of ABCL575 relative to IL receptor antibodies [46] - ABCL575 is expected to enter as a second-line therapy behind DUPIXENT, with potential to move to first-line due to its durability advantages [47][48] Question: Ideal partnership for the TCE platform [51] - The company is focused on collaborations that advance the science of TCEs, with an emphasis on creating effective and safe therapies for cancer patients [52][53] Question: Update on GMP facility and Biosecure Act impact [56] - The GMP facility is on track to bring its first molecules online in late 2025, with the company well-positioned to benefit from geopolitical shifts in manufacturing [57][58][59] Question: Prioritization of internal programs [60] - The company's near-term priorities include capital allocation decisions to identify a major winner, building a differentiated portfolio, and maintaining operational efficiency [60] Closing Remarks - Management thanked participants and expressed optimism about future updates [62]

Cirrus Logic, Inc. (NASDAQ:CRUS) Q2 2025 Earnings Conference Call November 4, 2024 5:00 PM ET Company Participants Chelsea Heffernan - Vice President, Investor Relations John Forsyth - President and Chief Executive Officer Ulf Habermann - Interim Chief Financial Officer Conference Call Participants Christopher Rolland - Susquehanna Tore Svanberg - Stiefel Thomas O'Malley - Barclays Ananda Baruah - Loop Capital Operator Ladies and gentlemen, thank you for standing by. Welcome to the Cirrus Logic Second Quart ...

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Q3 2024 Earnings Conference Call November 4, 2024 5:00 PM ET Company Participants Sam Bentzinger - Investor Relations, Gilmartin Group LLC Sheri Dodd - Chief Executive Officer Elaine Birkemeyer - Chief Financial Officer Conference Call Participants Kyle Bauser - B. Riley Operator Please standby. Welcome, ladies and gentlemen, to the Third Quarter 2024 Earnings Conference Call for Tactile Medical. At this time, all participants have been placed in a listen-only ...

Financial Data and Key Metrics - Q3 2024 revenue decreased by 19% YoY to $61.9 million, primarily due to lower refrigerant market prices and reduced revenue from the DLA contract [26] - Gross margin for Q3 2024 was 26%, down from 40% in Q3 2023, reflecting lower refrigerant prices [26] - Operating income for Q3 2024 was $7 million, compared to $23.1 million in Q3 2023 [27] - Net income for Q3 2024 was $7.8 million or $0.17 per diluted share, down from $13.6 million or $0.29 per diluted share in Q3 2023 [28] - The company ended the quarter with $56.5 million in cash and no debt [28] Business Line Data and Key Metrics - HFC-410A prices declined by 20% from Q2 2024 to approximately $6 per pound, representing 70% of total aftermarket demand for HFCs [9][10] - The company expects full-year revenue to be at the low end of prior guidance, with a gross margin of approximately 28% [12][30] Market Data and Key Metrics - HFC inventory levels decreased by 2% YoY to 378 million metric tons of CO2e as of December 31, 2023 [20] - HFC reclaim pounds grew by approximately 20% in 2023 compared to 2022 [16] - The company holds a 20%-plus market share for HFC reclaim pounds, with R-410A at approximately 25% [19] Company Strategy and Industry Competition - The company is focused on capitalizing on the HFC phasedown and the expected growth in demand for reclaimed refrigerants [11] - The EPA's final refrigerant management rule mandates the use of reclaimed refrigerants for servicing certain sectors starting in 2029, which is expected to drive industry adoption [13][15] - The company is working with industry partners to improve recovery practices and increase reclaim activity [16] Management Commentary on Operating Environment and Future Outlook - Management remains confident that HFC pricing will increase as demand outstrips supply due to the ongoing phasedown [10][11] - The company is concerned about the slow decline in HFC inventory levels and the potential need for a petition to the EPA to accelerate the phasedown [20][33] - The company expects Q4 gross margin to be traditionally lower due to seasonality [12][30] Other Important Information - The company repurchased $2.6 million in common stock during Q3 2024 and increased its share repurchase program to $20 million [29] - The company recognized $2.3 million in non-recurring other income related to a litigation settlement [27] Q&A Session Summary Question: Expectations for HFC pricing and inventory levels - Management expressed concern about the slow decline in HFC inventory levels and the potential need for a petition to the EPA to accelerate the phasedown [33] - The company is uncertain about the timing of price increases but believes supply/demand economics will eventually drive prices higher [41] Question: Integration of USA Refrigerants acquisition - The integration is progressing well, with new customers and additional sources of reclaimed refrigerant [36] - The company is applying USA Refrigerants' strategies to its existing customer base, particularly those acquired from Airgas [37] Question: Gross margin recovery timeline - Management expects gross margins to recover to 30% in the longer term, contingent on higher market prices and the use of lower-cost inventory pools [42] Question: DLA contract revenue - DLA contract revenue for Q3 2024 was approximately $9 million, with full-year expectations adjusted to mid-$30 million, down from $50 million-plus in 2023 [46]

V2X, Inc. (NYSE:VVX) Q3 2024 Earnings Conference Call November 4, 2024 4:30 PM ET Company Participants Mike Smith - Vice President, Treasury, Investor Relations & Corporate Development Jeremy Wensinger - President & Chief Executive Officer Shawn Mural - Senior Vice President & Chief Financial Officer Conference Call Participants Tobey Sommer - Truist Ken Herbert - RBC Capital Markets Peter Arment - Baird Joe Gomes - Noble Capital Trevor Walsh - Citizens JMP Operator Thank you for joining us for the V2X Thir ...

ATI Physical Therapy, Inc. (NYSE:ATIP) Q3 2024 Earnings Conference Call November 4, 2024 5:00 PM ET Company Participants Sharon Vitti - Chief Executive Officer Eimile Tansey - Chief People Officer Joseph Jordan - Chief Financial Officer Conference Call Participants Brian Tanquilut - Jefferies Operator Good afternoon. And welcome to ATI Physical Therapy’s Third Quarter 2024 Earnings Conference Call and Webcast. All participants will be in a listen-only mode. After today’s presentation, there will be an oppor ...

The RealReal, Inc. (NASDAQ:REAL) Q3 2024 Earnings Conference Call November 4, 2024 5:00 PM ET Company Participants Caitlin Howe - Senor Vice President of Finance Rati Levesque - Chief Executive Officer & President Ajay Gopal - Chief Financial Officer Conference Call Participants Mark Altschwager - Baird Ashley Owens - KeyBanc Capital Markets Bobby Brooks - Northland Capital Markets Marvin Fong - BTIG Jay Sole - UBS Operator Good day and thank you for standing by. Welcome to the RealReal Third Quarter 2024 ...

Integra LifeSciences Holdings Corporation (NASDAQ:IART) Q3 2024 Earnings Call Transcript November 4, 2024 8:30 AM ET Company Participants Chris Ward - IR Stuart Essig - Executive Chairman Jan De Witte - President and CEO Lea Knight - CFO Conference Call Participants Steven Lichtman - Oppenheimer Vik Chopra - Wells Fargo Ryan Zimmerman - BTIG Kristen Stewart - C.L. King Robbie Marcus - JPMorgan Matt Taylor - Jefferies Richard Newitter - Truist Securities Craig Bijou - Bank of America Securities Joanne Wuensc ...