Sara Cheung Good day, everyone, and thank you for joining us this online briefing to discuss First Pacific 2024 Full Year Financial and Operating Results. The results presentation is available on First Pacific website, www.firstpacific.com under the Investor Relations section, Presentation page. This results briefing is being recorded, and the replay will be available on First Pacific's website this evening in the Investor Relations section. For participants from the media, please note the Q&A session is op ...

Financial Data and Key Metrics Changes - The financial results in the latter half of 2024 did not meet expectations, indicating a need for improvement, described as a potential speed bump on the path to profitability [7] - The company aims to achieve EBITDA positivity by Q4 2025, with a focus on larger revenue and higher margin programs [10] Business Line Data and Key Metrics Changes - Revenue diversification is beginning to take effect, with margins recovering and a healthy pipeline of approximately $20 million in active pursuits across 77 unique programs [8] - The fastest growth area is now within mobile games, contributing about 16% of revenue in Q4 2024 and expected to approach 20% in Q1 2025 [37][38] Market Data and Key Metrics Changes - The gaming market is substantial, with 3.3 billion gamers globally and 61% of Americans playing video games, indicating a significant opportunity for growth [21] - The perception of gamers is shifting, with brands recognizing that gamers are regular consumers, which is expected to lead to increased advertising dollars flowing into gaming channels [26] Company Strategy and Development Direction - The company is focusing on becoming EBITDA positive and is aggressively restructuring its cost structure to align with this goal [10] - There is a commitment to exploring additional complementary offerings to fuel meaningful growth, particularly in response to structural changes in the Roblox brand partnership ecosystem [36] Management's Comments on Operating Environment and Future Outlook - Management acknowledges macroeconomic headwinds and structural shifts in the advertising ecosystem but remains optimistic about long-term prospects [4][5] - The transition of leadership to Matt Edelman as the new CEO is seen as a positive step, with a focus on aligning vision and capabilities for future growth [11][41] Other Important Information - The company is exploring strategic alternatives and has identified potential acquisition targets that align with its business model [14][50] - The appointment of Bant Breen to the Board is expected to enhance connections with agencies and brands, potentially opening new revenue opportunities [12][13] Q&A Session Summary Question: Context on discussions with potential acquisition targets - Management is unable to disclose binding agreements but is in touch with multiple companies, including Infinite Reality, and is exploring better-fit opportunities [48][50] Question: Addressing changes in Roblox's ad ecosystem - The company is part of the Roblox partner program and is focusing on branded content opportunities as Roblox shifts to a more managed ad ecosystem [55] Question: Opportunities in mobile advertising - The company is focused on playable advertising and collaborating with mobile game developers, with quick turnaround times for campaigns [62] Question: Education process for customers regarding gaming advertising - The education process is ongoing, with brands beginning to understand the value of gaming ecosystems, supported by data analytics to encourage repeat business [67][68]

SBC Medical Group Holdings (SBC) Q4 2024 Earnings Call March 28, 2025 12:56 PM ET Moderator Good morning. I'm Fukui, SBC's IR office head. It It is time to start, so we would like to start. Thank you very much for attending SBC Medical Group Holdings Financial Results Briefing despite your busy schedules. Today, we have Mr. Aikawa, the CEO and Guy, the Vice President, and will be explaining the financial results and outlook. On the right hand side, there is a QA box. So if you do have a question, please wri ...

Financial Data and Key Metrics Changes - For Q3 2025, the company generated CAD 6.2 million in revenue, consistent with the same quarter last year, indicating stable performance across wet lab operations [44] - BioStrand achieved CAD 0.6 million in revenue for the third quarter, contributing to a year-to-date revenue exceeding CAD 1 million and a gross profit margin of 97% [44] - Operating expenses totaled CAD 27.8 million, primarily due to a non-cash impairment charge of CAD 21.2 million related to BioStrand's intangible assets [45] - The net loss for the quarter was CAD 21.5 million, or CAD 0.66 per share, while the net loss excluding impairment was CAD 2.9 million, or CAD 0.09 per share [46][47] - Cash reserves increased to CAD 12.9 million from CAD 3.5 million at the end of fiscal year 2024, bolstered by an equity raise and the conversion of the Yorkville debenture [47] Business Line Data and Key Metrics Changes - The percentage of antibody discovery projects aimed at therapeutic applications increased from 19% to 48% year-over-year at the main wet lab discovery site in Canada, highlighting a shift towards higher revenue potential services [10] - BioStrand's revenue increased by 131.8% year-over-year, showcasing significant growth and high profitability [10] Market Data and Key Metrics Changes - The company has successfully secured a strategic partnership valued at USD 8 to 10 million with a leading biotech firm, enhancing its market position and revenue potential [7][26] - The demand for therapeutic applications is rapidly growing, with a notable increase in projects aimed at therapeutic ends [10][101] Company Strategy and Development Direction - The company has realigned its pipeline strategy, focusing on a new therapeutic development pipeline and revealing multiple ADC lead candidates [8] - A strategic partnership with RivalPro was established to integrate messenger RNA and LNP technologies, indicating a focus on innovative therapeutic solutions [7] - The relocation of the corporate headquarters to Austin, Texas, aims to expand the company's footprint in a thriving AI and biotech ecosystem [7] Management's Comments on Operating Environment and Future Outlook - Management highlighted the significant capital constraints faced by the biotech industry, with 41 companies filing for bankruptcy in 2023, emphasizing the company's proactive financial strategies to avoid similar pitfalls [16][17] - The company is entering the next quarter in a more focused and financially disciplined position, with a validated AI economics model and strong partner momentum [48] Other Important Information - The company is actively evaluating additional non-dilutive funding mechanisms and strategic asset realignment, including a potential divestiture of select European operations [48] - A major commercial milestone was achieved with a strategic partnership for next-generation cancer therapeutics, structured as an all-cash contract [26][27] Q&A Session Summary Question: Details on the recent $8 to $10 million deal - The initial purchase order was for $8 million, with potential for a second order based on project needs, expected to be drawn down weekly as work progresses [54][56] Question: Expectations for additional partnerships - The company anticipates more partnerships structured similarly, focusing on cash-based, execution-driven agreements that enhance flexibility and control over projects [58][64] Question: Impact of collaboration with Vulture on margins - The collaboration primarily benefits AI programs requiring significant GPU usage, improving margins and operational efficiency across those specific projects [66][68] Question: Cost implications post-European divestiture - Overall operating costs will decrease significantly as European operations are more expensive than North American ones, with a focus on streamlining services and enhancing profitability [74][76]

Financial Data and Key Metrics Changes - Gross originations grew 11.3% to $75.2 million in Q4 2024, marking nine consecutive quarters of growth [65][66] - Revenue for Q4 was $63 million, reflecting a 9.4% increase, and for the full year, revenue grew approximately 12% [72] - Gross profit for Q4 was approximately $7.4 million, down from $8.9 million in the previous year, while full-year gross profit was $45.8 million, up about 10% [73][74] - Adjusted EBITDA for Q4 was a loss of $1.1 million, while for the full year, it was approximately $4.8 million, a $6.7 million improvement compared to the previous year [81][82] Business Line Data and Key Metrics Changes - Total app originations grew by 32% year-over-year in Q4, with $46 million in gross originations starting in the app [31][32] - KPay originations were approximately $31 million, up 52% year-over-year, representing 41% of total originations [32][33] - Direct and waterfall gross originations grew approximately 44% year-over-year in Q4, excluding home furnishings and mattress categories [48] Market Data and Key Metrics Changes - Approximately 68% of total gross originations in 2024 came from direct and waterfall merchants [47] - The largest merchant, Wayfair, represented 27% of total gross originations in Q4, down from 43% in the previous year [68] Company Strategy and Development Direction - The company aims to enhance consumer engagement through app functionality and marketing campaigns, focusing on driving application growth and repeat leases [26][35] - Plans to introduce new merchants to the Katapult app marketplace throughout 2025 to expand offerings [86] - The strategy includes leveraging partnerships to broaden the application pool and enhance customer engagement [56][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential despite a challenging macro environment, particularly in the home furnishings sector [86] - The company anticipates gross originations growth of at least 20% and revenue growth of at least 20% for 2025 [90] Other Important Information - The company has a disciplined approach to expense management, with total operating expenses decreasing by 37% in Q4 [78] - Cash used in operations for the full year was $32.6 million, compared to $17.4 million in 2023, largely due to growth-related costs [85] Q&A Session Summary Question: Outlook for margin in 2025 given strong growth expectations - Management expects gross profit to remain in the 18% to 20% range for 2025, consistent with previous years [96] Question: Changes in consumer behavior due to tariffs - Management has not observed significant changes in consumer behavior related to tariffs, with stability in delinquencies and consumer sentiment [98][100] Question: Drivers for improved EBITDA margin despite revenue growth - The improvement in EBITDA margin is primarily driven by diligent expense management while investing in growth initiatives [110] Question: Growth in Wayfair originations in Q4 - Wayfair's gross origination growth was not disclosed, but overall business outside of Wayfair grew at 50% [114] Question: Impact of macro uncertainty on merchant acquisition - Management noted that uncertainty can accelerate merchant acquisition as they seek growth opportunities [120]

Financial Data and Key Metrics Changes - There was no revenue for the fourth quarter of 2024 or 2023, and no revenue for the years ended December 31, 2024, and 2023. However, commercial revenues have started to be booked for the first time in the company's history within the last several weeks [26][31] - Research and development expenses were $20.7 million for the fourth quarter of 2024, a decrease from $22.9 million in the third quarter of 2024, but a slight increase from $20.2 million in the fourth quarter of 2023 [26][27] - General and administrative expenses were $7.4 million for the fourth quarter of 2024, consistent with the previous quarter, but an increase from $6 million in the fourth quarter of 2023 [29] - Net loss was $20.9 million for the fourth quarter of 2024, compared to $39.2 million in the third quarter of 2024 and $25.1 million in the fourth quarter of 2023 [31] - Cash, cash equivalents, and restricted cash totaled $95.3 million as of December 31, 2024, with an additional $46.6 million raised from a public offering shortly after [32] Business Line Data and Key Metrics Changes - The commercial launch of SimVest is proceeding well, with 34 hospitals initiating their Value Analysis Committee (VAC) approval process, and three hospitals already approving the purchase [9][10] - The budget impact model published in the Journal of Medical Economics supports the cost-effectiveness of SimVest compared to other treatment options [11] Market Data and Key Metrics Changes - The market response to SimVest has been positive, with hospitals engaged in the VAC process, indicating strong interest from leading trauma centers and newly introduced institutions [9][10] Company Strategy and Development Direction - The company is focused on expanding the adoption of SimVest and is optimistic about its potential impact on vascular surgery [8][35] - Plans to submit a supplemental BLA for the ATEV program in dialysis access in the second half of 2026, with expectations for positive interim results from ongoing clinical trials [21][67] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the commercial execution and the promising pipeline programs, anticipating a positive impact on patient care in the coming years [35] - The company is aware of the challenges in the market but remains committed to driving adoption and addressing any concerns raised by the medical community [54][56] Other Important Information - A new U.S. patent was issued for key aspects of the manufacturing system for SimVest, providing protection until 2040 [14] - The company is evaluating its cash position and priorities for future trials, particularly for the PADD program [82][84] Q&A Session Summary Question: Characteristics of the three hospitals that approved SimVest - Management noted that approvals were driven by hospitals committed to improving patient care and having surgeon champions advocating for the product [41][42] Question: Goals for the launch in 2025 - Management provided estimates that many level one trauma centers would initiate the VAC process by the end of the year, with expected sales between $7 million and $13 million [46][49] Question: Feedback from surgeons regarding a recent article - Surgeons involved in clinical trials expressed strong discontent with the article, drafting a rebuttal that was not published by the New York Times [54][55] Question: Interim analysis for the VO12 trial - The interim analysis aims to establish catheter-free days for women undergoing dialysis, with positive expectations based on previous data [66][67] Question: Supplemental BLA submission timeline - Management hopes for a shorter review time for the supplemental BLA compared to the initial application, aiming for priority review [97] Question: Cost of manufacturing small diameter ATEV - The cost of producing smaller diameter vessels is expected to be less than larger ones, utilizing existing manufacturing equipment [101][103] Question: Update on the biovascular pancreas project - The project is progressing well in primate studies, showing long-term insulin production and survival of islets [108][110]

zSpace, Inc. (ZSPC) Q4 2024 Earnings Conference Call March 28, 2025 08:00 AM ET Company Participants Conference Call Operator - Operator Greg Robles - Investor Relations Paul Kellenberger - CEO Conference Call Participants Rohit Kulkarni - Analyst, Roth Capital Partners Nihal Chokshi - Analyst, Northland Capital Markets Alex Paris - Analyst, Barrington Research Conference Call Operator Good morning, everyone, and thank you for participating in today's conference call to discuss ZSpace's financial results fo ...

Financial Data and Key Metrics Changes - Q4 gross originations grew 11.3% year over year to $75.2 million, with a two-year stack growth of 25.7% [67] - Q4 revenue increased by 9.4% to $63 million, marking the seventh consecutive quarter of year-over-year growth [74] - Full year 2024 gross originations grew approximately 5%, with Q4 growth exceeding the 6% to 8% outlook [68] - Gross profit for Q4 was approximately $7.4 million, down from $8.9 million in the previous year, while full year gross profit was $45.8 million, up about 10% versus 2023 [75][76] - Adjusted EBITDA for full year 2024 was approximately $4.8 million, a $6.7 million improvement compared to the previous year [83] Business Line Data and Key Metrics Changes - Total app originations grew by 32% year over year in Q4, with 46 million in gross originations starting in the app [33][34] - K-PAY originations increased by approximately 52% year over year, accounting for roughly 41% of total originations [35] - Direct and waterfall gross originations grew approximately 44% year over year in Q4, excluding home furnishings and mattress categories [50] Market Data and Key Metrics Changes - Gross originations for the top 25 merchants grew 10% during Q4, with the largest merchant, Wayfair, representing 27% of total gross originations, down from 43% in Q4 2023 [69][70] - Cross-shopping activity grew approximately 60% in Q4, indicating a vibrant marketplace [72] Company Strategy and Development Direction - The company aims to enhance consumer engagement, merchant engagement, referral partnerships, and improve unit economics to drive profitability [27] - The focus is on leveraging the Catapult app marketplace to drive consumer engagement and gross originations [33][38] - The company plans to introduce new merchants to the marketplace and enhance marketing efforts to increase application growth [89] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential despite a challenging macro environment, particularly in the home furnishings and mattress category [88] - The company anticipates gross originations growth of at least 20% and revenue growth of at least 20% for 2025 [92] - Management noted that they have not seen significant changes in consumer behavior due to tariffs, with delinquencies remaining in line with expectations [100][102] Other Important Information - The company reported a disciplined approach to expense management, with total operating expenses decreasing by 37% in Q4 [80] - As of December 31, 2024, total cash and cash equivalents were $16.6 million, including $13.1 million of restricted cash [84] Q&A Session Summary Question: Outlook for margins in 2025 - Management expects gross profit to remain in the 18% to 20% range for 2025, consistent with previous years [98] Question: Changes in consumer behavior due to tariffs - Management has not observed significant changes in consumer behavior related to tariffs, with stability in delinquencies [100][102] Question: Drivers for EBITDA margin improvement - The improvement in EBITDA margin is primarily due to diligent expense management while focusing on growth [110] Question: Growth in Wayfair originations - Wayfair's gross origination growth continues to decline, but the business outside of Wayfair remains strong, growing at 50% [114] Question: Merchant acquisition in uncertain macro environments - Management believes that uncertainty can accelerate merchant acquisition as they seek growth opportunities [120]

Financial Data and Key Metrics Changes - For Q4 2024, total return premiums placed increased by 15.6% to RMB 7.4 billion (USD 1 billion) [22] - Total return premiums for the full year 2024 rose by 7.5% to RMB 24.3 billion (USD 3.3 billion) [23] - The total number of policies issued in Q4 2024 increased to 5.1 million from 4.8 million in the prior year [23] - Net revenues for Q4 2024 were RMB 3.5 billion (USD 475.8 million), a 5.2% increase year-over-year [24] - Adjusted operating loss for Q4 2024 improved to RMB 3 million (USD 0.4 million), down 93.7% from the prior year [26] Business Line Data and Key Metrics Changes - The number of embedded policies in NEV deliveries grew by 184% year-over-year to 141,000, with corresponding premiums increasing by 171% to RMB 1.4 billion [24] - For the full year 2024, embedded policies reached 1.1 million, representing a 159% increase, while premiums grew by 128% to RMB 3.3 billion (USD 452.4 million) [24] Market Data and Key Metrics Changes - The NEV sector in China is experiencing significant growth, with penetration rates around 50% of total passenger vehicle sales [10] - The company has established partnerships with 15 NEV manufacturers, enhancing its market presence [13] Company Strategy and Development Direction - The company aims to broaden its revenue streams by diversifying product offerings and enhancing market share through tailored policies [18] - There is a focus on innovation in autonomous driving and the development of AI-driven products to improve operational efficiency and customer experience [15][17] - The company plans to launch new products on a test basis in select cities later this year [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the digital insurance industry, driven by technological advancements and partnerships [19] - The guidance for 2025 anticipates net revenues between RMB 3.6 billion and RMB 3.8 billion, representing a year-over-year increase of 3.7% to 9.4% [28] Other Important Information - The company reported a significant reduction in selling and marketing expenses, down 20.1% in Q4 2024 [25] - General and administrative expenses decreased by 53.2% in Q4 2024, attributed to lower share-based compensation [26] Q&A Session Summary Question: How will the company increase revenue streams from existing partners? - The company plans to increase the number of new customers among OEMs and enhance policy renewal services for existing customers [33][34] Question: Can you describe how AI is being utilized in the company? - AI is being used for dynamic pricing and intelligent claims processing, leveraging data from smart connected vehicles [40][41][48] Question: What is the guidance for revenue growth in 2025? - The company expects to grow faster than the traditional car insurance market, with NEV market growth rates around 40% to 50% [54][55] Question: Are there areas identified for capital investments to support growth? - The company plans to invest primarily in AI and R&D for new product development, particularly in AI claim management [60] Question: Why do OEMs prefer to cooperate with the company? - The company is recognized for its leading digital platform and extensive experience in auto insurance operations, serving over 20 million car owners [82][84]

Financial Data and Key Metrics Changes - The company achieved a 20% year-over-year revenue growth, reaching just under $52 million for fiscal year 2024, marking a significant milestone by crossing the $50 million threshold [7][39] - Adjusted operating income for 2024 was approximately $900,000, a turnaround from an adjusted operating loss of $2.4 million in 2023 [43] - The net loss for 2024 was $12.6 million, improved from a net loss of $24.4 million in 2023 [46] Business Line Data and Key Metrics Changes - The launch of Always Alpha, a women's sports management firm, began in Q4 2024, with early revenue generation reported in Q1 2025 [8][50] - The digital department expanded with a new affiliate marketing division, tapping into a $17 billion market, which is expected to enhance revenue streams significantly [19][24] Market Data and Key Metrics Changes - The company was recognized as the Agency of the Year on the 2025 Observer PR power list, highlighting its cultural reach and effectiveness in marketing [10][12] - The affiliate marketing sector is identified as a rapidly growing area within influencer marketing, which is the fastest-growing segment of marketing overall [54] Company Strategy and Development Direction - The company is focused on leveraging its unique collection of marketing companies to create long-term value, particularly through investments in women's sports and digital marketing [12][38] - Strategic investments in staffing and new business lines are aimed at building a comprehensive roster in women's sports and enhancing digital marketing capabilities [50][55] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, citing the positive adjusted operating income as a significant milestone [8][39] - The company believes it is well-positioned to capitalize on opportunities in 2025 and beyond, despite current stock trading below previous revenue levels [41][38] Other Important Information - The company has made significant progress in reducing operating expenses, with total operating expenses for 2024 at approximately $62.2 million, down from $63.2 million in 2023 [44] - Cash and cash equivalents increased to $9.1 million as of December 31, 2024, compared to $7.6 million in 2023 [46] Q&A Session Summary Question: Can you quantify the investments made for growth in Q4? - Management indicated that investments were primarily in staffing for the launch of Always Alpha, with early revenue already being generated in Q1 [50] Question: Will the new businesses contribute significantly to revenue in 2025? - Management believes that the affiliate marketing segment could represent 25% or more of revenue in the coming years, with potential for further growth [57] Question: How did the recent events in LA impact the company? - Management confirmed that while there were some operational impacts in Q1 due to evacuations, the business returned to normal by the time of the Oscars [66][68] Question: What are the plans for the Disrupt agency and its impact? - The Disrupt agency is expected to enhance the company's diversity and client roster, contributing positively to future growth [72] Question: What is the expected timeline for the Youngblood movie? - The film is anticipated to premiere at the Toronto Film Festival in September, with hopes for a theatrical or streaming release shortly thereafter [82]