New Fortress Energy (NFE) Q1 2025 Earnings Call May 14, 2025 04:30 PM ET Company Participants Matthew Reinhardt - Co-General Counsel & Chief Compliance OfficerWesley Edens - Chairman & CEOLeandro Cunha - Managing Director NFE BrazilJeremy Dawson - VP - Business DevelopmentChristopher Guinta - Chief Financial OfficerGregory Lewis - Managing DirectorCraig Shere - Director of ResearchTarek Hamid - Managing Director Conference Call Participants Christopher Robertson - Equity Research Analyst - Vice PresidentWa ...

SKYX Platforms (SKYX) Q1 2025 Earnings Call May 14, 2025 04:30 PM ET Company Participants Rani Kohen - Founder & Executive ChairmanSteven Schmidt - PresidentLeonard Sokolow - Co-CEO Conference Call Participants Patrick McCann - Equity Research AnalystJack Vander Aarde - SVP & Senior Research Analyst Operator Before we begin, please note that today's call may contain forward looking statements based on current expectations and assumptions. These are subject to risks and uncertainties, and actual results may ...

Journey Medical Corp (DERM) Q1 2025 Earnings Call May 14, 2025 04:30 PM ET Company Participants Jaclyn Jaffe - Senior Director of Corporate OperationsClaude Maraoui - Co-Founder, President and Chief Executive OfficerJoseph Benesch - CFORamsey Alloush - COO & General CounselSrinivas Sidgiddi - Vice President - Research & Development Conference Call Participants Scott Henry - Managing Director & Senior Research AnalystKalpit Patel - Senior Biotech Research AnalystThomas Flaten - Senior Research Analyst Operat ...

Spruce Power Holding (SPRU) Q1 2025 Earnings Call May 14, 2025 04:30 PM ET Company Participants Scott Kozak - Head of Investor RelationsChris Hayes - Chairman, President & CEOSarah Wells - CFO & Head of Sustainability Conference Call Participants Peter Gastreich - Managing Director - Energy and Sustainability Analyst Operator Hello and thank you for standing by. My name is Lacey and I will be your conference operator today. At this time, I would like to welcome everyone to Spruce Power First Quarter twenty ...

Financial Data and Key Metrics Changes - Full year fiscal 2025 revenue reached a record $1.9 billion, reflecting a $1 billion sales growth over the last four fiscal years, driven by 186 new stores and strong same-store sales growth [6][8] - Earnings per diluted share increased by 23% to $5.88, up $1.08 from the prior year [6] - Fourth quarter total revenue increased by 17%, with earnings per diluted share at $1.22 compared to $0.96 in the prior year [7][8][23] Business Line Data and Key Metrics Changes - Merchandise margin expanded by 130 basis points for the full year and by 210 basis points in the fourth quarter [20][23] - Same-store sales increased by 6% in the fourth quarter, with brick-and-mortar stores up 5.5% and e-commerce up 9.8% [7][15][23] - Exclusive brand penetration increased to 38.6% for fiscal 2025, with a growth of 1,500 basis points over the last four years [20] Market Data and Key Metrics Changes - The company opened 60 new stores in fiscal 2025, expanding its footprint into four new states, ending the year with 459 stores [12][13] - The customer loyalty database grew by 14% year-over-year, reaching 9.6 million active customers [16] Company Strategy and Development Direction - The company plans to open 65 to 70 new stores in fiscal 2026, maintaining a 15% growth rate in new units [13][31] - The strategic initiatives focus on new store growth, same-store sales, omnichannel expansion, and merchandise margin improvement [12][18][20] - The company is diversifying its supply chain to reduce reliance on Chinese production, with expectations that only 5% of exclusive brand goods will be sourced from China in the second half of fiscal 2026 [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating ongoing uncertainties related to tariffs and consumer demand, with a proactive approach to pricing and inventory management [8][9][27] - The company anticipates a potential decline in merchandise margin in the second half of fiscal 2026 due to tariff impacts, but expects to maintain overall margin rates through strategic pricing [21][30] Other Important Information - The company has authorized a share repurchase program of up to $200 million, reflecting confidence in cash flow generation [33] - The guidance for fiscal 2026 includes a total sales range of $2.07 billion to $2.15 billion, with same-store sales expected to increase by 2% at the high end [28][30] Q&A Session Summary Question: Can you elaborate on April and May same-store sales? - Management noted strong sales trends in the first quarter, with a consistent performance across major merchandise categories, but does not anticipate accelerating guidance for the entire quarter [37][39] Question: Can you elaborate on pricing power and tariff headwinds? - Management indicated that tariffs are expected to impact margins by approximately $8 million, with price increases anticipated in the summer [40][41] Question: How are you thinking about product shortages from China? - Management expressed confidence in their diversified sourcing strategy, with only 5% of exclusive brand products expected from China [46][47] Question: Can you discuss SG&A leverage and tariff impacts for fiscal 2027? - Management expects to leverage SG&A through normalized expenses and new store contributions, while acknowledging that tariff costs may carry into fiscal 2027 [72][74] Question: What is the strategy for pricing adjustments? - Management is evaluating pricing on a product-by-product basis, considering psychological price points and exclusive brand penetration opportunities [82][84] Question: How is the competitive landscape behaving? - Management noted that larger competitors remain rational, while smaller mom-and-pop retailers may face challenges due to price increases [88][89] Question: How are new markets performing compared to legacy markets? - Management highlighted that new store openings have positively impacted e-commerce sales, particularly in states like New York [92][93]

Financial Data and Key Metrics Changes - In Q1 2025, the company reported revenue of $8,700,000, a 3% year-over-year decline, but flat on a constant currency basis compared to $9,000,000 in Q1 2024 [31][34] - Gross margin for the quarter was 71%, consistent with the full year 2024, but lower than 76% in Q1 2024, primarily due to a 23% reduction in units produced [33] - The operating loss improved by 17% to $3,900,000 compared to $4,700,000 in 2024, driven by a 12% reduction in operating expenses [34] Business Line Data and Key Metrics Changes - Core product sales for CytoSorb were $8,700,000 in Q1 2025, representing a 3% year-over-year decline, with strong performances in international distribution offsetting disruptions in the German market [8][10] - The company aims to return German sales to growth in the second half of 2025 after two years of flat performance [10][15] Market Data and Key Metrics Changes - Germany accounts for approximately 40% of the company's sales, and the company is focusing on optimizing its sales strategy in this critical market [15] - The company is also expanding its presence in the Middle East and Africa through its Dubai subsidiary, which is expected to enhance market access [16] Company Strategy and Development Direction - The company is focused on generating new clinical data to guide physicians in optimizing CytoSorb use, which is expected to drive broader adoption and revenue growth [39] - The strategic initiative includes a realignment of the German sales team and approach to improve execution and results [31][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential for growth in the second half of 2025, particularly in Germany, despite challenges from hospital reforms and pandemic-related issues [67] - The company is preparing for the potential commercial launch of DrugSorb ATR in the U.S. and Canada, with an initial market opportunity estimated at over $300,000,000 [27][41] Other Important Information - The company successfully executed a shareholder rights offering, raising $6,800,000, which strengthened its balance sheet and increased liquidity [34][36] - The company welcomed a new Vice President of Marketing for North America to lead the strategy for DrugSorb ATR [29] Q&A Session Summary Question: Confidence in FDA appeal and next steps if denied - Management expressed strong confidence in the strength of their submission and the compelling data from the STAR T trial, believing the chances during the appeal process are good [47][48] - If the appeal is unsuccessful, the company could pursue a new de novo submission using much of the original data, potentially shortening the review time [49] Question: Impact of clinical data on marketing and reimbursement in Europe - Management confirmed that strong clinical data will be leveraged to support reimbursement and health technology assessments across Europe [53] Question: Updates on European markets beyond Germany - The company is making good progress in major European markets, including the UK, and is seeing momentum in other EU countries [58][60] Question: Focus on other products in development - Currently, the primary focus is on DrugSorb ATR, with other technologies like HemoDefend VGA being considered for future discussions [62] Question: Visibility and confidence in reaccelerating growth in Germany - Management acknowledged the unique challenges in Germany but expressed optimism about the changes being implemented and early positive developments in Q2 [68]

Financial Data and Key Metrics Changes - The company reported first quarter sales of $20.1 million for 2025, an increase from $18.9 million in the first quarter of 2024, marking the fifth consecutive quarter of year-over-year revenue growth [5][12] - General and administrative expenses decreased by 17% to $6.6 million compared to $7.9 million in the first quarter of 2024 [7][13] - Gross profit increased to $5.7 million, with a gross margin improvement of 4.82% sequentially from the fourth quarter of 2024 [7][14] - Net cash used in operating activities decreased by 29% to $4 million compared to $6.1 million in the fourth quarter of 2024 [13] - Adjusted EBITDA loss decreased to $3.6 million or $0.04 per share, compared to $4.5 million or $0.05 per share in the first quarter of 2024 [13][14] Business Line Data and Key Metrics Changes - The company continues to grow its market penetration of advanced and smart platform products, expecting to have products in 30,000 U.S. and Canadian homes by the end of the second quarter of 2025 [6][14] - The product range includes advanced ceiling electrical outlets and smart home plug-and-play products, with a focus on a razor and blade model for recurring revenues [8][9] Market Data and Key Metrics Changes - The total addressable market (TAM) in the U.S. is approximately $500 billion, with over 42 billion sealing applications [10] - The company is utilizing an e-commerce platform of over 60 websites to enhance market penetration in both retail and professional segments [11] Company Strategy and Development Direction - The company is focused on building a resilient, efficient, and localized supply chain, with partnerships in the U.S. and overseas [15] - Plans to launch new patented products are underway, with expectations for significant growth in the second half of 2025 [16][18] - The company aims to mitigate risks associated with tariffs by exploring domestic manufacturing options while maintaining relationships with international suppliers [39][40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the current momentum and significant activity within the business, indicating a strong belief in achieving cash flow positivity in the second half of 2025 [4][6] - The management team is actively working on safety code standardization, which is expected to enhance product adoption and market penetration [17][46] Other Important Information - The company secured approximately $4 million in additional equity through preferred stock investments, part of a broader financing round totaling approximately $15 million [7][8] - The company is focused on the razor and blade model, which includes a variety of smart home products that can lead to recurring revenue streams [9][10] Q&A Session Summary Question: Current state of manufacturing and cost differences with U.S. partnership - The company is collaborating with Profab Electronics to automate production, with minimal cost differences anticipated [22][23] Question: Additional investment from the Shaner Group and hotel distribution channel - The company welcomes strategic investments and is rolling out production for products needed in the hotel market [25][27] Question: Goals for domestic manufacturing and automation timeline - The company aims to increase domestic production and is exploring options for automation, which will take time to fully implement [36][41] Question: Safety code standardization process and expected product orders - The company is working with various organizations to expedite the safety code standardization process, with a focus on saving lives and mitigating injuries [42][46]

Financial Data and Key Metrics Changes - Net sales for Q1 2025 totaled $26.9 million, a decrease of 21.4% from $34.2 million in Q1 2024, impacted by delays in customer approvals and manufacturing efficiencies [15][16] - Gross profit for Q1 2025 was $3.1 million, or 11.1% of net sales, compared to $5.4 million, or 15.9% in the same quarter last year, due to lower sales and reduced facility utilization [16] - Adjusted EBITDA for Q1 2025 was negative $1 million, down from $1.6 million in Q1 2024, reflecting ongoing operational challenges [18] Business Line Data and Key Metrics Changes - The aerospace and defense segment faced revenue impacts due to the closure of the Blue Earth facility and delays in customer approvals for the transfer of programs to the Bemidji facility [4][5] - Customer backlog has stabilized as of March 31, 2025, consistent with the year-end 2024 backlog, with expectations for improved order volume as approvals are completed [16] Market Data and Key Metrics Changes - The company is closely monitoring supply chain strategies as customers evaluate their operations in light of tariff uncertainties, particularly regarding facilities in China and Mexico [6][7] - Opportunities are emerging in China as companies seek to consolidate manufacturing within the region, aligning with the company's nearshoring strategy [7] Company Strategy and Development Direction - The company is focused on reducing operating costs and aligning operations with market demand to drive sustainable long-term EBITDA growth [21] - A three-tier global manufacturing strategy across the US, Mexico, and China is in place to enhance competitiveness and operational flexibility [10][11] - The company is investing in engineering expertise and product innovation, particularly in fiber optic technologies, to meet evolving customer needs [24][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the stabilization of customer backlogs and the potential for revenue recovery in the second half of 2025 [5][9] - The company is committed to monitoring geopolitical uncertainties and adjusting strategies to mitigate risks associated with tariffs and supply chain disruptions [6][7] Other Important Information - The company plans to further reduce inventory investments throughout 2025, aiming to improve cash flow and operational efficiency [19][21] - The focus on sustainability and innovation in fiber optics is expected to align with industry trends and customer demands for environmentally friendly solutions [26][27] Q&A Session Summary Question: What are the expectations for future revenue recovery? - Management expects revenue recovery in the second half of 2025 as customer approvals are completed and operational efficiencies improve [5][9] Question: How is the company addressing tariff impacts? - The company is closely monitoring tariff implications and adjusting pricing and sourcing strategies to mitigate adverse effects [7] Question: What innovations are being pursued in product development? - The company is advancing fiber optic technologies, including EBX and AOX, to enhance product performance and meet customer needs [24][26]

Financial Data and Key Metrics Changes - For Q1 2025, revenues were $25,000, a decrease from $35,000 in the same period last year [6] - Deferred revenues for Q1 2025 were $150,000 compared to nil in Q1 2024, indicating a timing difference in revenue recognition [6] - The loss from operations for Q1 2025 was $4,800,000, compared to $4,100,000 for Q1 2024 [7] - The net loss for Q1 2025 was $5,300,000 or $0.64 per share, compared to a net loss of $2,200,000 or $0.33 per share in Q1 2024 [7] - Cash used in operating activities in Q1 2025 was $2,800,000, with cash, cash equivalents, and marketable securities totaling $9,100,000 and no outstanding debt [8][19] Business Line Data and Key Metrics Changes - The lead clinical stage candidate, BRTX-one hundred, is being evaluated in a Phase II trial for chronic lumbar disc disease (CLDD) [10] - Preliminary data from the trial shows positive trends in safety and efficacy, with no serious adverse events reported [11][12] - The FDA granted Fast Track designation for BRTX-one hundred, facilitating its development and review process [13] Market Data and Key Metrics Changes - The company is developing ThermoStem, a cell-based therapy targeting obesity and metabolic disorders, using brown adipose-derived stem cells [14] - The company has built a comprehensive patent portfolio to protect its intellectual property in both US and international markets [15] Company Strategy and Development Direction - The company is focused on advancing its two core clinical development programs: BRTX-one hundred and ThermoStem [16] - There are ongoing discussions regarding a potential licensing agreement for the ThermoStem metabolic disease programs [15][19] - The company aims to leverage positive preliminary data to potentially shorten the regulatory process for BLA approval [45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing Phase II trial for BRTX-one hundred, expecting data to remain consistent with previous trends [17] - The company is actively managing resources while executing strategic goals, ending the quarter with a strong financial position [19] Other Important Information - The company is preparing for a presentation of data from 45 subjects at an upcoming conference in June [26] - Management emphasized the importance of maintaining a clean and valid data set for the trial [36] Q&A Session Summary Question: Clarification on efficacy endpoint - Management confirmed that the primary endpoint is safety, with a secondary efficacy endpoint of greater than or equal to 30% improvement [22] Question: Interim analysis status - Management stated that an interim analysis is still a potential option but has not been determined yet [23][24] Question: Enrollment pace and characteristics - Management indicated that enrollment is picking up due to new recruitment strategies and that they expect to counteract any summer slowdown [36] Question: FDA emphasis on pain or function - Management noted that both pain reduction and functional improvement are being collected, with ongoing discussions with the FDA [38] Question: Morphological changes observed - Management provided details on encouraging morphological changes observed in patients, including increased hydration and decreased protrusion size [42][44]

Financial Data and Key Metrics Changes - Total revenue for Q3 was $14.1 billion, an increase of 11% year over year [24] - Non-GAAP net income was $3.8 billion, with non-GAAP earnings per share at $0.96 [24] - Total product revenue was $10.4 billion, up 15%, while services revenue was $3.8 billion, up 3% [24] - Total annualized recurring revenue (ARR) ended at $30.6 billion, a 5% increase [25] - Total subscription revenue increased by 15% to $7.9 billion, representing 56% of total revenue [25] - Non-GAAP gross margin was 68.6%, up 30 basis points year over year [27] - Non-GAAP operating margin was 34.5%, above the high end of guidance [28] Business Line Data and Key Metrics Changes - Networking product orders grew by 8%, with double-digit growth in switching and enterprise routing [25] - Security orders surged by 54%, driven by offerings from Splunk and SASE [25] - Collaboration revenue increased by 4%, while observability revenue rose by 24% [25] - Product orders were up 20% year over year, with a 9% increase when excluding Splunk [26] Market Data and Key Metrics Changes - In the Americas, product orders increased by 27%, while EMEA saw a 4% increase and APJC grew by 21% [26] - Service Provider and Cloud orders were up 32%, Enterprise orders increased by 22%, and Public Sector orders rose by 8% [26] Company Strategy and Development Direction - Cisco is focusing on AI infrastructure, with over $1 billion in AI orders received year to date, surpassing the original target [5][11] - The company is enhancing its partnerships, particularly with NVIDIA, to deliver integrated AI solutions [12] - Cisco is investing in strategic partnerships in Saudi Arabia to support AI infrastructure development [13][14] Management's Comments on Operating Environment and Future Outlook - Management noted that customer purchasing behavior remains stable despite tariff uncertainties, with continued commitment to technology transitions [35] - The company anticipates sustained demand for AI infrastructure and does not expect a significant slowdown in cloud CapEx [47] - Management expressed confidence in the ongoing growth opportunities in AI and enterprise markets [49] Other Important Information - Scott Herron, CFO, announced retirement at the end of fiscal year 2025, with Mark Patterson set to take over [21][22] - Cisco closed the acquisition of Snap Attack to enhance its security operations capabilities [29] Q&A Session Summary Question: Customer buying behavior amid tariff uncertainties - Management indicated no significant changes in purchasing behavior, with customers still committed to technology transitions [35][36] Question: Impact of cloud CapEx slowing down - Management does not anticipate a slowdown in global cloud CapEx, citing ongoing investments in sovereign cloud strategies [47][48] Question: AI orders and future growth rates - AI orders are expected to continue growing, with management emphasizing the need for execution and capacity increases [81][84] Question: Networking orders strength and product cycle contributions - Networking orders showed broad strength across various segments, with expectations for continued growth driven by product refresh cycles [70][71] Question: Tariff impact on guidance for Q4 - Management confirmed that the guidance for Q4 includes assumptions about tariffs, reflecting potential impacts on gross margins [106][107]