Venus Concept Inc. (NASDAQ:VERO) Q4 2024 Earnings Conference Call March 31, 2025 8:00 AM ET Company Participants Rajiv De Silva - CEO Domenic Della Penna - EVP and CFO Conference Call Participants Marie Thibault - BTIG Jeremy Pearlman - Maxim Group Operator Good day, ladies and gentlemen, and welcome to the Fourth Quarter and Fiscal Year 2024 Earnings Conference Call for Venus Concept Inc. At this time, all participants have been placed in a listen-only mode. Please note that this conference call is being r ...

Financial Data and Key Metrics Changes - In the fourth quarter, net sales were $160 million, a decrease of $38 million or 19% compared to the same period in 2023, aligning with planned lower volumes [25] - New unit sales declined by 7% or approximately 92 units, while the average selling price for new units grew by 3% [24] - Pre-owned retail unit sales, including consigned vehicles, were down 23% or 268 units during the quarter [25] - SG&A expenses increased to $53 million for the quarter from $46 million in the prior year, primarily due to higher transaction and legal expenses related to restructuring [26] - Adjusted EBITDA loss was $24 million compared to a loss of $11 million in the prior year period [27] Business Line Data and Key Metrics Changes - On a same-store basis, there was a decline in both new and used unit volume, partially offset by improved gross profit per unit sold [15] - Total gross margin was 19% in the fourth quarter compared to 21% in the third quarter of 2024; excluding inventory and LIFO adjustments, gross margin was 23% [16] - Finance and Insurance (F&I) revenue was over $6,000 per unit, up 3% relative to the third quarter [16] Market Data and Key Metrics Changes - The company’s new inventory is comprised of 75% model year 2025 units and 25% prior model year units, with over 77% of new inventory being towable products [17] - Motorized inventory decreased by 44% from the prior year's period due to aggressive inventory management [18] Company Strategy and Development Direction - The company is focused on rightsizing its dealership portfolio to de-lever its balance sheet and improve earnings power [9] - A letter of intent has been signed to divest three locations, which will add cash to the balance sheet and reduce indebtedness [11] - The company aims to improve operational performance across all functional areas of its dealerships, including inventory, sales, service, F&I, and marketing [21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that 2024 was a year of significant transformation and that the company is executing a turnaround plan [7] - There is optimism that the company is near the bottom of a prolonged market down cycle, with expectations for future retail demand for RVs to return to historical levels [21] - Management expressed confidence in the company’s ability to drive improved results for stakeholders [27] Other Important Information - The company completed a comprehensive recapitalization, including a $30 million common equity investment and the exchange of convertible preferred stock for common stock [7] - The company reduced floor plan debt by $11 million and term loan debt by $6 million during the quarter [27] Q&A Session Summary - No questions were fielded following the prepared remarks, and the call concluded without a Q&A session [5][30]

Financial Data and Key Metrics Changes - Curis reported a net loss of $9.6 million or $1.25 per share for Q4 2024, compared to a net loss of $117 million or $2.03 per share for the same period in 2023 [19] - For the full year 2024, the net loss was $43.4 million or $6.88 per share, compared to a net loss of $47.4 million or $8.96 per share in 2023 [19] - Research and development expenses were $9 million for Q4 2024, down from $10 million in Q4 2023, primarily due to lower clinical and research costs [19][20] - General and administrative expenses decreased to $3.4 million in Q4 2024 from $4.9 million in Q4 2023, attributed to lower legal and consulting costs [20][21] Business Line Data and Key Metrics Changes - In the NHL segment, the TakeAim Lymphoma study is evaluating emavusertib in combination with ibrutinib, with positive feedback from EMA and FDA regarding potential accelerated approval pathways [6][12] - The study has 30 clinical sites open for enrollment, aiming to complete enrollment in the next 12 to 18 months [8][12] - In the AML segment, emavusertib showed a 38% composite CR rate in a study involving patients with FLT3 mutations, indicating strong efficacy compared to existing treatments [14][15] Market Data and Key Metrics Changes - The company has received Orphan Drug Designation for emavusertib in primary CNS lymphoma in both the U.S. and Europe, enhancing its market position [12] - The discussions with regulatory agencies indicate a favorable environment for potential approvals, as there are currently no approved treatments for primary CNS lymphoma [43] Company Strategy and Development Direction - The company is focused on accelerating the development timeline for emavusertib, with plans to enroll additional patients to support filings for accelerated approval [8][12] - There is an ongoing strategy to explore partnerships with major players in the NHL and AML spaces, indicating a proactive approach to enhance its market presence [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the clinical data and the clarity received from regulatory agencies, which supports the company's development plans [12][42] - The company anticipates maintaining a cash runway into Q4 2025, with a quarterly burn rate of approximately $10 million [26][22] Other Important Information - The company completed a registered direct offering and private placement with net proceeds of approximately $10.8 million, extending its financial runway [21] - The company is currently conducting a Phase 1 study of emavusertib in combination with venetoclax and azacitidine for frontline AML, with ongoing enrollment [16][52] Q&A Session Summary Question: Can you talk about cash runway and expenses going forward? - Management confirmed a quarterly burn rate of about $10 million, extending the cash runway to Q4 2025 due to recent offerings [26] Question: Any potential inbound interest from partners? - Management indicated ongoing discussions with potential partners, given the promising data in NHL and AML [28] Question: How many patients have been dosed with emavusertib? - A total of 13 patients have been dosed at 100 mg BID in the study [35] Question: What does the EMA expect in terms of response rates? - Management noted that both agencies are supportive and expect compelling data, with a response rate above 25% being favorable [43] Question: How should we think about TakeAim Leukemia? - Management emphasized caution regarding data expectations in leukemia but highlighted ongoing studies and interest in monotherapy extensions [50][55]

Financial Data and Key Metrics Changes - The company's net revenue for 2024 increased approximately 20% to about $11.7 million compared to $9.8 million in 2023 [6][40] - Total net revenue for Q4 2024 was approximately $3.5 million, representing a 53% increase from Q4 2023's $2.3 million and a 13% increase from Q3 2024's $3.1 million [6][40] - Loss from operations decreased from $34.3 million in 2023 to $30.8 million in 2024 [41] - Net loss attributable to common shareholders decreased from $41.3 million in 2023 to $38.5 million in 2024 [42] Business Line Data and Key Metrics Changes - Mytesi prescription volume increased approximately 3.9% in 2024 compared to 2023 [41] - Mytesi prescription volume increased by about 9.4% in Q4 2024 over Q4 2023 [41] Market Data and Key Metrics Changes - The company is focusing on rare diseases and supportive care for cancer patients, particularly targeting intestinal failure and cancer therapy-related diarrhea [10][32] Company Strategy and Development Direction - The company is pursuing multiple near-term catalysts expected in Q2 2025, which are viewed as significant and value-enhancing [7][43] - The focus is on developing crofelemer for rare diseases and expanding Mytesi's indications to include cancer therapy-related diarrhea [26][36] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of upcoming catalysts and the potential for significant collaborations and licensing deals [13][43] - The company is optimistic about the potential for crofelemer to receive fast-track designations from regulatory agencies due to the lack of approved treatments for certain conditions [25][27] Other Important Information - The company is conducting ongoing proof-of-concept trials for crofelemer in rare diseases, with initial results expected in Q2 2025 [21][22] - The company has developed a novel formulation of crofelemer specifically for patients with intestinal failure, which differs from the commercialized version [30][29] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session [46]

FTC Solar, Inc. (FTCI) Q4 2024 Earnings Conference Call March 31, 2025 08:30 AM ET Company Participants Bill Michalik - Vice President of Investor RelationsKathy Boehnen - Chief Financial OfficerJan Brandt - President and Chief Executive OfficerOperator - Conference Call OperatorPhilip Shen - Roth Capital PartnersJeff Osborne - TD Cowan Operator Good day and thank you for standing by. Welcome to the FTC Solar Fourth Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only m ...

Loar Holdings Inc. (LOAR) Q4 2024 Earnings Conference Call March 31, 2025 08:30 AM ET Company Participants Operator - Conference Call OperatorIan McKillop - Director of Investor RelationsDirksen Charles - Chief Executive Officer and Executive Co-ChairmanBrett Milgram - Executive Co-ChairmanGlenn D'Alessandro - Treasurer and Chief Financial OfficerUnknown Speaker - Unknown Conference Call Participants Sheila Kayalu - Analyst (via Jeff Reiss)Christine Lewak - Analyst at Morgan StanleyJason Gurski - Analyst at ...

Financial Data and Key Metrics Changes - The company reported revenues of $40 million for year '24, a decrease from the record $44 million in year '23, reflecting a return to normalized purchasing after post-COVID restocking [15] - For year '25, the company projects revenues of $44 million and net income of $2.5 million, indicating a 10% year-over-year increase [16][23] - The backlog increased by 35% to $27 million at the end of year '24, driven by exposure to the booming defense sector [16] Business Line Data and Key Metrics Changes - The supply chain division has doubled its engineering team and tripled the number of manufacturers represented, enhancing market position and growth trajectory [7] - The RFID division is expanding its salesforce to capture the rebound in the Israeli civil market and will add off-the-shelf packing machines for logistics centers [18] - The robotic division is preparing for its first installation of a robotic production line in Europe in the first half of year '25 [19] Market Data and Key Metrics Changes - The Israeli defense budget rose by 73% year-over-year, while Europe's defense budget increased by 16% year-over-year, positively impacting key clients [17] - The company has achieved $4 million in overseas sales in year '24 from its supply chain division, indicating successful international expansion [19] Company Strategy and Development Direction - The growth strategy focuses on strengthening relationships with defense clients and expanding internationally [17] - The company aims to deepen its offerings to defense clients, including the recent addition of cable in line [18] - The company is leveraging its Israeli defense client base to align with their global subcontractors for international growth [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for year '25, citing a growing backlog and favorable trends in the defense sector [16][23] - The company is in excellent financial shape with $21 million in equity and zero bank debt, providing flexibility for strategic growth [23][24] - Management highlighted the significant discount at which the company is trading compared to broader market benchmarks, indicating a compelling investment opportunity [20][21] Other Important Information - The company has partnered with a US-based investor relations firm to enhance its presence in the US capital market, resulting in increased trading volume from 4,000 shares to 58,000 shares [21][22] - The company recorded an impairment charge of $1.2 million related to goodwill, impacting net income for year '24 [32] Q&A Session Summary Question: Guidance on the new robotics line in Europe and its impact from the war in Ukraine - Management clarified that they do not have direct sales in Europe but align with major Israeli clients who export and require local production [28][29] Question: Clarification on tax loss carry forward - Management confirmed approximately $30 million in carry forward tax losses, which could provide up to $6 million in future tax savings, with only $1 million recognized as an asset [31] Question: Impact of new head of procurement on defense contracts - Management expressed confidence that the new hire will help capitalize on opportunities in the defense market and indicated updates will be provided if significant developments occur [35]

Lazydays Holdings, Inc. (LAZY) Q4 2024 Earnings Conference Call March 31, 2025 08:30 AM ET Company Participants Operator - Conference Call OperatorJeff Needles - Chief Financial OfficerRon Fleming - CEOAmber Dillard - Chief Operating Officer Operator Greetings and welcome to the Lazy Day RV Holdings 2024 Earnings Release Conference Call. At this time, all participants are on a listen-only mode. If anyone requires operator assistance during the conference, please press star zero on your telephone keypad. As ...

Brainstorm Cell Therapeutics Inc. (BCLI) Q4 2024 Earnings Conference Call March 31, 2025 08:30 AM ET Company Participants Operator - Conference OperatorMichael Wood - Conference Call HostChaim Liebowitz - President and CEOAla Patelist - Interim Chief Financial OfficerUnidentified - Unspecified Company RepresentativeDr. Haro Hartonian - EVP and Chief Operating OfficerDr. Bob Dagger - EVP and Chief Medical Officer Conference Call Participants Jason McCarthy - Analyst, Maxim GroupDavid Bouts - Analyst, Zacks S ...

Financial Data and Key Indicators Changes - In 2024, the total net profit increased by 4.8% to RMB222.7 billion, while operating income rose by 2.3% to RMB711.4 billion [4] - Interest income reached RMB580.7 billion, reflecting a growth of 1.6% [4] - Newly added loans amounted to RMB2.29 trillion, marking a significant increase of 10.13% [4] - The non-performing loan (NPL) ratio improved to 1.3%, down by 3 basis points from the previous year [5] - The capital adequacy ratio (CAR) increased by 1.05%, with the Common Equity Tier 1 (CET1) CAR at 11.42% [6] Business Line Data and Key Indicators Changes - The growth of corporate and individual loans outpaced peers, with individual loans showing a discrepancy of 0.42% [5] - The loan balance for county-level growth exceeded RMB1 trillion, accounting for over 40% of the domestic loan balance [9] - Agricultural loans surpassed RMB1 trillion, with a growth rate exceeding 15% [10] - The balance of inclusive finance loans increased by over 30% for six consecutive years, reaching RMB4.66 trillion [15] Market Data and Key Indicators Changes - The stock price of A shares and H shares increased by 55% and 58% respectively, ranking first among comparable peers [7] - The county-level loan balance reached RMB9.85 trillion, with a growth rate of 12.3% [68] - The personal loan balance reached RMB9 trillion, leading among peers [98] Company Strategy and Development Direction - The company focuses on enhancing financial services in agriculture and rural areas, aligning with government strategies [8] - Emphasis on digital transformation and fintech innovation to improve service delivery and customer experience [12][25] - Plans to strengthen risk management and maintain stability in asset quality while supporting the real economy [29][83] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining profitability growth in 2025, driven by supportive macroeconomic policies and consumption boosting measures [27][40] - The outlook for asset quality remains stable, with expectations of maintaining a good level of NPL ratios [81] - The company aims to enhance customer satisfaction and improve reform and innovation in its operations [30] Other Important Information - The company plans to hire 32,000 employees in 2024, focusing on risk control and development [22] - The provision coverage ratio stands at 299%, indicating strong risk resilience [6] - The company has implemented measures to support small and micro borrowers, enhancing its inclusive finance initiatives [14] Q&A Session Summary Question: What is the reason behind the operating income and profit growth in 2024, and what is the expectation for sustainability? - Management attributed the growth to improved credit structure, pricing optimization, and effective risk cost control, with confidence in maintaining profitability growth in 2025 [35][40] Question: What is the outlook for deposit growth in 2024? - Management expects balanced deposit growth, supported by favorable monetary policies and customer base expansion [49][54] Question: What are the reasons for the increase in credit growth in 2024? - The increase is attributed to strategic focus on key areas, with corporate loans growing by 10.6% and individual loans by 9.4% [68][70] Question: What measures will be taken to manage asset quality risks? - Management emphasized stringent risk management practices, focusing on customer eligibility and proactive risk mitigation strategies [78][83] Question: What is the strategy for retail business development? - The company aims to enhance customer management, digital transformation, and expand personal loan offerings to meet growing consumer demand [90][98]