Financial Performance - Tripadvisor achieved 11% year-over-year revenue growth in Q2 2025, driven by reinvestment of cost savings in top-line growth initiatives[9] - The Last Twelve Months (LTM) ending Q2 2025 revenue was $882 million for Brand Tripadvisor, $920 million for Viator, and $198 million for TheFork[12] - LTM Adjusted EBITDA ending Q2 2025 was $65 million (7% margin) for Brand Tripadvisor, $270 million (29% margin) for Viator, and $11 million (6% margin) for TheFork[12] - The company's liquidity position as of June 30, 2025, was $1708 million, including $341 million from a term loan, offset by $411 million for stock repurchase[25, 27] Segment Highlights - Viator's Total Gross Booking Value (GBV) has a Compound Annual Growth Rate (CAGR) of approximately 23% from 2019 to 2024, reaching over $4 billion in FY2024[39, 42] - Brand Tripadvisor has approximately 300 million monthly unique users and over 100 million active members with over 1 billion reviews and opinions[53] - TheFork operates in 11 countries with over 55,000 bookable restaurants, with over 75% of bookings made via mobile app and from repeat diners[64] Strategic Focus - Tripadvisor is focused on an engagement-led strategy through product delivery, shifting from a legacy model to scaling engagement-led growth opportunities[9] - Brand Tripadvisor is focusing on engagement and delivering world-class guidance products to fuel diverse monetization paths[66] - Viator is reinforcing its leadership position in experiences by investing in awareness, enhanced products, and repeat bookings to capture more market share[66] - TheFork aims to drive profitable revenue growth by delivering value to both diners and restaurants as the leader in the European dining market[66]

Q2 2025 Financial Performance - Room nights increased by 7% year-over-year to 105 million[10] - Gross bookings increased by 5% year-over-year to $30.4 billion[10] - Revenue increased by 6% year-over-year to $3.8 billion[12] - Adjusted EBITDA increased by 16% year-over-year to $908 million[12] - Adjusted EBITDA margin increased by 190 bps year-over-year[10, 22, 26] - Adjusted EPS increased by 21% year-over-year to $4.24[12] Segment Performance - B2B gross bookings increased by 17% year-over-year to $8.8 billion[17] - Advertising revenue increased by 19% year-over-year to $182 million[17] Guidance - Q3 2025 gross bookings are expected to increase by 5-7% year-over-year[61] - Q3 2025 revenue is expected to increase by 4-6% year-over-year[61] - Q3 2025 Adjusted EBITDA margin is expected to increase by 50-100 bps year-over-year[61]

Fiscal Year 2025 Performance - The company's revenue reached $1,084.3 million, marking a 42.4% year-over-year increase[7] - Non-GAAP operating income was $153.9 million, a 33.8% year-over-year increase[7] - The non-GAAP operating margin was 14.2%, up 270 basis points year-over-year[7] - Non-GAAP EPS was $0.47[7] Fiscal Q4 2025 Performance - Revenue was $290.5 million, a 15.3% year-over-year increase[12, 21, 26] - Non-GAAP operating income was $41.9 million, a 52.4% year-over-year increase[12, 26] - The non-GAAP operating margin was 14.4%, up 350 basis points year-over-year[12, 21, 26] - Non-GAAP EPS was $0.13, a 62.5% year-over-year increase[12, 21, 26] Segment Performance in Fiscal Q4 2025 - Network and Service Enablement (NSE) revenue was $209.1 million, a 14.8% year-over-year increase[15, 21, 22, 32] - Optical Security and Performance Products (OSP) revenue was $81.4 million, a 16.6% year-over-year increase[17, 21, 22, 32]

Financial Performance - Revenue for Q2 2025 reached $8.5 million, a 126% increase year-over-year, primarily driven by BESS revenue [10, 13] - Gross margin for Q2 2025 was 29.6%, improved from 27.8% in Q2 2024, with gross profit of $2.5 million, a 140% increase year-over-year [10, 13] - Adjusted operating expenses were $16.2 million, a 2% improvement year-over-year, with an additional $6.5 million in annualized cost savings initiatives implemented in June/July [10, 13] - Adjusted EBITDA loss was $13.7 million, narrowed by 11% year-over-year due to increased revenue and gross margin [10, 13] - Total cash and cash equivalents as of June 30, 2025, were $58.1 million, a 23% improvement versus Q1 2025 [10, 13] Commercial Pipeline and Projects - Backlog as of August 7th, 2025, including Build, Own & Operate projects, reached $954 million, a 120% increase year-to-date [10, 15] - The company has a developed pipeline of 5.9 GWh, shortlisted and/or awarded projects worth $2.4 billion [15] - Revenue recognized since the IPO in Q1 2022 totals $551 million [15] - The company launched "Asset Vault" with a $300 million preferred equity investment expected to enable over $1.0 billion in CapEx spending for 1.5 GW of projects [57] Operational Updates - The 57 MW/114 MWh Cross Trails BESS project in Texas is fully owned and operated by the company and is in operation [29, 35] - The Calistoga Resiliency Center, an 8.5 MW/293 MWh hybrid hydrogen and battery energy storage project in California, is operation-ready [36, 41] - The company acquired the Stoney Creek 125 MW/1,000 MWh BESS project in New South Wales, Australia, backed by a 14-year Long-Term Energy Service Agreement (LTESA) [42, 46, 55]

Financial Performance Highlights - ARR reached $710 million, demonstrating a 14% year-over-year growth[12] - Revenue was $176.5 million, reflecting a 15% year-over-year increase[12] - Non-GAAP Operating Income was $33.5 million, with a margin of 19%, showing a 42% year-over-year growth[12] - Adjusted EBITDA was $35.3 million, with a margin of 20%, indicating a 40% year-over-year growth[12] - The company achieved Security ARR of $203 million, representing 40% year-over-year growth and 29% of Jamf's total ARR[16] Strategic Initiatives and Acquisitions - The company completed the acquisition of Identity Automation on April 1, 2025[16, 28] - A $400 million Term Loan A was successfully completed on May 21, 2025[16] - The company announced a strategic reinvestment plan to support business success, including resource reallocation and investment in AI capabilities[16] Financial Outlook for 2025 - Q3 2025 revenue is projected to be between $176 million and $178 million, representing 10%-12% growth compared to Q3 2024[37] - Full year 2025 revenue is expected to be between $701 million and $704 million, indicating 12% growth[37] - Full year 2025 Unlevered Free Cash Flow growth is projected to be greater than 75%[37]

Business Overview - VTEX is a SaaS commerce platform for enterprises, with 88% of its Annual Recurring Revenue (ARR) coming from enterprise customers, each generating at least $25,000 ARR, with an average of $131,000 in ARR [17] - VTEX's platform facilitated $19.0 billion in B2C Gross Merchandise Value (GMV) in the last twelve months (LTM) of the second quarter of 2025 [21] - VTEX reported $230.4 million in revenue for the LTM period of the second quarter of 2025 [21] - The company has 3,400 customers and 2,400 active online stores across 43 countries as of fiscal year 2024 [21] Financial Performance and Growth - VTEX boasts an attractive unit economics model with a Lifetime Value to Customer Acquisition Cost (LTV/CAC) ratio above 6x [68] - VTEX achieved a Non-GAAP subscription gross margin of 79.1% for the LTM period of the second quarter of 2025 [21] - The number of customers with ARR above US$250,000 experienced YoY growth of 23% in 2024 [69] - VTEX's Top 100 customers have shown a Compound Annual Growth Rate (CAGR) of 24% from 2017 to 2024 [72] - Top 100 customers ARR grew 29% FX Neutral CAGR from 2017 to 2024, reaching $98.7 million in ARR [79] Market and Technology - The Latin American e-commerce market reached $19.0 billion in GMV in fiscal year 2024 [32] - The worldwide e-commerce market is projected to reach $8.1 trillion by fiscal year 2028 [33] - Approximately 45% of VTEX's GMV comes from Collaborative Commerce transactions, with over 85% of GMV from customers using Collaborative Commerce integrations [44]

Financial Performance - Q2 2025毛利率为32.1%[7] - 渠道和产品销售组合变化对毛利率产生-0.6%的影响[7] - 产品利润率提高使毛利率增加3.5%[7] - 版权最低保证缺口导致毛利率下降-2.4%[7] - 关税导致毛利率下降-4.6%[7] - 库存准备金调整导致毛利率下降-5.8%[7] Sales & Top Properties - 前十大IP占比净销售额的33%[5] - 前十大IP占比未知[4] Global Expansion & Brand Engagement - Funko于2025年7月在东南亚开设了第一家授权商店，位于菲律宾[9] - Funko在2025年圣地亚哥动漫展（SDCC）上占据了最大的实体展位，通过四个沉浸式区域与各个年龄段和圈子的收藏家互动[13] - SDCC 2025上，每日都有售罄情况发生，表明产品受欢迎和品牌亲和力[13]

Financial Performance Highlights - Farmer Mac achieved core earnings of $93331 thousand YTD 2025[66] - Net Effective Spread was $183883 thousand YTD 2025[66], with a Net Effective Spread percentage of 118%[66] - The company maintained a Tier 1 Capital Ratio of 136% in Q2 2025[38] - Farmer Mac's revenue has a 10-Year Compound Annual Growth Rate (CAGR) of 112%[21] Business Segments - Farm & Ranch Finance segment reported a net volume of $182 billion[30], contributing to 33% of the overall segment volume[30] - Corporate AgFinance segment had a net volume of $2 billion[30], accounting for 26% of the segment volume[30] - The Renewable Energy segment's net volume was $19 billion[30], representing 7% of the total segment volume[30] - P & U Infrastructure Finance segment recorded a net volume of $73 billion[30], making up 20% of the segment volume[30] Capital and Dividends - Core Capital above the Statutory Minimum was $602106 thousand in Q2 2025[66] - The company has increased quarterly dividend payments for 14 consecutive years[42], with a 7% year-over-year increase in 2025[42] Credit Quality - Farmer Mac's average charge-offs are 002% of assets, outperforming the Banks average of 016% and the Farm Credit System average of 009%[46] - The average portfolio Loan-to-Value (LTV) was 47% as of June 30, 2025[44]

Q2 2025 Earnings August 2025 仍 onestream Disclaimer Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors. Some of these risks are clescribed in greater detail in ou the Securities and Exchange Commission, including our most recently filed Quarterly Report on Form 10-4. or Annual Recort on Form 10-K. ht is not possible for our managemen all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combin ...

Company Mission and Vision - Sight Sciences' mission is to develop transformative technologies that empower eyecare providers to elevate standards of care [5] - The company aims to transform chronic eye disease treatment by reducing patient burden, slowing disease progression, and improving outcomes [9] Glaucoma Market and Technology (OMNI) - The addressable U S glaucoma market is estimated at over $6 billion with over 4 million patients diagnosed [17] - OMNI is a comprehensive MIGS technology designed to treat the full spectrum of primary open-angle glaucoma (POAG) [28] - OMNI has demonstrated consistent efficacy in both combination cataract and standalone clinical trials [32] Dry Eye Disease Market and Technology (TearCare) - The addressable U S dry eye disease market is approximately $3 billion with over 19.4 million patients diagnosed [61] - TearCare is an FDA-cleared interventional therapy designed to treat MGD by restoring gland functionality [76] - Clinical trials (SAHARA RCT) have shown TearCare to be superior to Restasis in tear break-up time improvement [84] Financial Performance and Strategy - The company projects full year 2025 revenue between $72 million and $76 million and adjusted operating expenses between $101 million and $105 million [96] - Strategic initiatives focus on expanding OMNI utilization and TearCare access and adoption [98]