Financial Data and Key Metrics Changes - As of June 30, 2025, the company's cash, cash equivalents, and marketable securities were approximately $630.5 million, down from $861.7 million as of December 31, 2024 [27] - Collaboration revenue increased to $14.2 million in Q2 2025 from $6.9 million in the prior year quarter, driven by cost reimbursements related to collaboration with Regeneron Pharmaceuticals [28] - R&D expenses decreased to $97 million in Q2 2025 from $114.2 million in the prior year quarter, primarily due to lower employee-related expenses and stock-based compensation [28] - G&A expenses decreased to $27.2 million in Q2 2025 from $31.8 million in the prior year quarter, mainly due to lower stock-based compensation [29] Business Line Data and Key Metrics Changes - The company is increasing enrollment in the Phase 3 study evaluating Nexi in ATTR cardiomyopathy to approximately 1,200 patients, up from the previous target of 765 patients [7][20] - Enrollment in the HALO study for LONVOZIE in HAE has exceeded expectations, with a notable screening of 41 patients in April alone [14][15] - The company anticipates completing enrollment in the HAE and ATTR polyneuropathy programs earlier than previously thought [6] Market Data and Key Metrics Changes - The company noted strong interest from both patients and physicians in its clinical trials, which has led to faster-than-expected enrollment [6][10] - The competitive landscape for TTR therapies is evolving, with the company positioning Nexi as a formidable competitor in a growing market [20][105] Company Strategy and Development Direction - The company is focused on transforming the treatment landscape for HAE and ATTR amyloidosis, with plans to launch LONVOZIE for HAE by 2027 [5][30] - The company is building its commercial and medical teams to prepare for a successful product launch, having filled key leadership positions [12] - The company aims to demonstrate a significant clinical benefit over existing therapies, particularly in the context of combining Nexi with stabilizers [62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's plans and execution, highlighting the strong demand for its clinical trials and the potential for significant clinical benefits from its therapies [12][30] - The company is committed to maintaining a solid cash runway to support its operating plans into 2027, despite the increased enrollment in clinical trials [29][40] Other Important Information - The Chief Medical Officer announced plans for retirement in August 2026, with a search for a successor already underway [13] - The company is focused on ensuring a seamless transition in leadership while continuing to advance its clinical pipeline [13] Q&A Session Summary Question: What is the target proportion of patients on stabilizers in the ATTR study? - The company estimates that approximately 70% of patients will be on stabilizers, which is higher than the initial estimate of 50-60% [35] Question: How will cash runway be affected by the trial expansion? - The company indicated that the increase in enrollment to 1,200 patients will not significantly impact cash runway or net cash burn guidance [40] Question: What is the latest regarding Phase 3 events accrual rate for Nexe? - The company is not disclosing specific event rates but is optimistic about the potential for robust outcomes based on emerging data [42] Question: How does the enrollment pace compare to competitors? - The company noted that despite the availability of new therapies, enrollment has increased, indicating strong interest from patients and physicians [49] Question: Will the study be powered to show a statistically significant difference in the subset on stabilizer background? - Yes, the study is now powered to show a statistically significant difference in that subset [76] Question: What are the qualities of patients enrolling in gene editing studies? - Patients are motivated to find permanent solutions for their diseases, as evidenced by their willingness to wash out from standard therapies to participate in trials [80] Question: How does the company view the competitive landscape for Nexi? - The company believes Nexi will be a formidable competitor in the market, particularly due to its unique profile and the unmet needs in the treatment of ATTR amyloidosis [105]

Financial Data and Key Metrics Changes - Revenue grew 8.5% to $5.5 billion, with 3% organic growth and new BD organic growth at 4% [6][22] - Adjusted gross margin reached 54.8%, up 50 basis points year over year, and adjusted operating margin was 25.8%, up 60 basis points year over year [6][30] - Adjusted diluted EPS was $3.68, exceeding expectations with a growth of 5.1% [6][30] Business Line Data and Key Metrics Changes - BD Medical's Pharm Systems showed sequential improvement with 4.8% growth, driven by double-digit growth in Biologics [23] - APM delivered 13% pro forma growth, supported by strong commercial execution and new product innovation [24] - BD Life Sciences experienced low single-digit decline in Biosciences and Diagnostic Solutions, but showed significant sequential positive momentum [27] Market Data and Key Metrics Changes - Total company organic growth was led by the U.S. and Greater Asia outside of China, partially offset by challenges in China [23] - Research instruments improved by approximately 40-80% sequentially in the U.S. and EMEA, driven by the launch of FaxDiscover 88 [28] - BackTech utilization increased over 20 percentage points sequentially, exiting the quarter at over 80% of historic levels [29] Company Strategy and Development Direction - The company announced a definitive agreement to separate its Biosciences and Diagnostics business, which is expected to unlock significant shareholder value [5][9] - Focus on enhancing capital allocation with an emphasis on share buybacks and competitive dividends post-separation [10] - Continued investment in innovation and commercial execution to drive growth, particularly in areas like UCC and new product launches [39][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving organic revenue growth despite market headwinds, particularly in China and certain sub-segments [8][32] - The company reaffirmed its organic revenue guidance for the year and raised its earnings guidance by $0.18 at the midpoint [8][33] - Management highlighted the importance of BD Excellence in driving margin expansion and operational efficiency [21][60] Other Important Information - The company plans to use at least half of the $4 billion cash distribution from Waters for share buybacks, with the remainder for debt repayment [10] - The company expects a full-year 2026 tariff impact of around $275 million, an improvement from previous expectations [34][60] Q&A Session Summary Question: Growth outlook for RemainCo business - Management indicated that they expect stable mid-single-digit growth for RemainCo, driven by strong performance across various segments and continued investments in innovation [36][38] Question: Operating margin guidance for Q4 - Management acknowledged a slight sequential step down in operating margins due to timing of investments, but emphasized strong overall performance and margin management [44][46] Question: Fiscal 2026 margin outlook - Management stated that post-separation operating margins would remain healthy, with continued benefits from BD Excellence and a favorable tariff outlook [52][56] Question: Capital deployment strategy post-separation - Management highlighted a focus on reinvesting in growth opportunities and maintaining strong capital allocation strategies, including share buybacks [63][66] Question: Trends in urology business - Management confirmed that the double-digit growth in urology is a continuation of strong momentum, driven by ongoing innovation and market expansion [75][78]

Financial Data and Key Metrics Changes - Total revenue for the quarter was $666 million, a decline of 8% due to continued softness in hardware sales [23] - Recurring revenue increased by 4% to $422 million, improving its percentage of total revenue by over 700 basis points to 63% [23] - Adjusted EBITDA was $95 million, an increase of 20% with a margin expansion of 340 basis points to 14.3% [23] - Software ARR and total segment ARR increased by 7% and 5% respectively [23] Business Line Data and Key Metrics Changes - In the restaurant segment, total revenue increased by 2% to $205 million, with recurring revenue also increasing by 4% to $143 million [24] - The retail segment saw total revenue decline by 12% to $454 million, while recurring revenue increased by 5% to $277 million [24] - Software and payment sites in the restaurant business increased by 41%, while in retail, platform and payment sites increased by 2513% [15][19] Market Data and Key Metrics Changes - The company had nearly 78,000 sites connected to the Boyd's Commerce platform, an increase of 16% year over year [10] - Consumer transaction volume through the VCP was more than 50% higher than the prior year, with over 500 million transaction API calls processed in June alone [11] - The number of consumer orders processed through the VCP increased nearly 60% in the first half of 2025 compared to the prior year [11] Company Strategy and Development Direction - The company plans to launch additional VCP capabilities starting in the fourth quarter and into next year, focusing on enhancing customer experiences and operational efficiencies [6][8] - There is a strong emphasis on integrating payment capabilities with software contracts, reflecting the intertwined nature of these industries [7] - The company is investing in cloud-native technologies and microservices architecture to create a competitive advantage in the market [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand environment, noting no pullback from customers and a strong interest in modernizing infrastructure [30][31] - The company anticipates continued revenue growth and improved margins, particularly in the restaurant segment, which is expected to finish the year at about 32% [46] - Management acknowledged the evolving tariff situation but maintained a stable cost estimate for the year, indicating ongoing monitoring and potential adjustments [9][50] Other Important Information - The company has initiated conversations with about 10% of customers regarding expanded service offerings, including payments [7] - Adjusted free cash flow was $37 million for the quarter, with expectations for a ramp in the second half of the year [40] - The company invested $42 million in capital expenditures during the quarter, with over 80% related to software investments [24] Q&A Session Summary Question: Demand environment across retail and restaurant - Management noted no pullback from customers, with strong interest in modernizing infrastructure and a good spread of demand across product offerings [30][32][34] Question: Free cash flow visibility - Management indicated that Q2 free cash flow was in line with expectations and that they expect to generate more in the second half due to seasonal trends [40] Question: Strength in restaurant EBITDA margin - The strength was attributed to good software and services growth, with expectations for consistent margins throughout the year [45][46] Question: Tariff exposure and mitigation actions - Management confirmed the tariff cost estimate remains unchanged and indicated ongoing discussions with customers regarding shared expenses if tariffs persist [50] Question: Cost savings initiatives - The company has executed a cost program aimed at $100 million in savings, with about 40% realized in the first half and 60% expected in the second half [55] Question: Payment business progression - Management expressed optimism about the payment business, expecting significant growth as they engage with larger customers and streamline services [68][72][94] Question: ARR and backlog for implementation - Software ARR is approaching $800 million, with a positive trend expected to continue as new products are launched [101][103]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 reached $214.5 million, reflecting a year-over-year increase of 13.9% [29] - Adjusted EBITDA for Q2 was $25 million, with an adjusted EBITDA margin of 11.7%, up from 10.4% in the previous year [36] - Active customers increased by 9% year-over-year, totaling 2.6 million, with average revenue per customer rising 4.6% to $316 [10][29] Business Line Data and Key Metrics Changes - Glasses revenue grew approximately 11% year-over-year, with progressive lenses accounting for 23% of prescription units sold [13][30] - Contact lenses saw a significant increase of 28% year-over-year, now representing 11.5% of total revenue [20][30] - Eye exams grew 44% year-over-year, contributing 6% to total revenue [21][30] Market Data and Key Metrics Changes - Retail revenue increased by 19.3% year-over-year, driven by the opening of new stores and growth in existing locations [29][15] - The company opened 11 new stores in Q2, bringing the total to 298 stores, with a focus on underpenetrated suburban markets [15][30] Company Strategy and Development Direction - The company aims to expand its store footprint to over 900 locations across North America, highlighting significant growth potential [6] - A partnership with Google was announced to develop AI-powered intelligent eyewear, expanding the company's total addressable market beyond traditional glasses [7][9] - The company is transitioning away from the Home Try On program to focus on in-store experiences and AI-driven digital tools [18][90] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the health of the eye care consumer and the ability to maintain growth despite macroeconomic challenges [48] - The company raised its full-year guidance, expecting net revenue between $880 million and $888 million, representing 14-15% growth year-over-year [41] - Management noted that tariff-related impacts have moderated, allowing for improved financial performance [38] Other Important Information - Steve Miller, the Chief Financial Officer, announced his departure after 14 years, with Dave Gilboa assuming interim financial responsibilities [23][25] - The company is focusing on leveraging AI technology to enhance customer experience and operational efficiency [51][72] Q&A Session Summary Question: Thoughts on the health of the eye care consumer and future growth - Management noted stability in the customer base and confidence in continued growth, citing the ability to adapt quickly to market changes [48][49] Question: Progress on the Google partnership and its importance - The partnership is expected to unlock new levels of utility for consumers, with glasses becoming a primary interface for engaging with AI [57][60] Question: Drivers of revenue growth acceleration into July - Growth has been observed across both retail and e-commerce channels, supported by recent pricing changes [70] Question: Details on the Warby Advisor feature - The AI-driven tool provides personalized frame recommendations based on user preferences, showing strong engagement and sales [72] Question: Impact of sunsetting the Home Try On program - The program's sunset allows for resource reallocation towards marketing and higher-margin initiatives, reflecting a shift in the company's business model [90]

Financial Data and Key Metrics Changes - Core EPS grew by 2% year-over-year, reflecting strong underlying business growth, though dampened by elevated U.S. mortality and expected credit loss provisions [12][13] - Net income for the quarter was $1.8 billion, an increase of $747 million compared to the prior year, driven by positive market experience [19] - Book value per share increased by 7% year-over-year to $35.78, despite returning over $6.4 billion of capital to shareholders [26][28] Business Line Data and Key Metrics Changes - AP sales increased by 15% year-over-year, with over 30% growth in both Asia and the U.S. [15] - New business CSM grew by 37% and new business value increased by 20% [15] - Global WAM achieved nearly $1 billion in positive net flows, demonstrating strength in institutional and retirement inflows [15][21] Market Data and Key Metrics Changes - Asia segment saw APE increase by 31% year-over-year, with significant contributions from Hong Kong, Mainland China, and Singapore [20] - Canada reported a 34% decrease in APE sales, offset by strong growth in individual insurance [23] - U.S. segment delivered strong AP sales growth of 40%, but core earnings decreased by 53% due to unfavorable mortality experience [25] Company Strategy and Development Direction - The company remains committed to investing in businesses for sustainable growth, with a focus on digital transformation and AI capabilities [7][8] - The acquisition of Comvest Credit Partners aims to enhance private credit capabilities and scale the private markets business [9][10] - A review of the company's strategy is planned to assess potential refreshes for long-term ambitions [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver high-quality sustainable growth despite short-term headwinds [12][28] - The company anticipates continued strong performance in Asia and is optimistic about future growth opportunities [20][23] - Management noted that elevated credit loss provisions are expected to stabilize, with a continued focus on maintaining a strong balance sheet [17][28] Other Important Information - The LICAT ratio remains strong at 136%, providing financial flexibility [28] - The company plans to transition to a new eMPF platform in Hong Kong, which is expected to impact core earnings starting in 2026 [22][23] Q&A Session Summary Question: What other areas may the company want to bulk up in operations? - The company is focused on organic growth opportunities but is also looking for inorganic opportunities that can accelerate growth [37][40] Question: What is the expected impact of the eMPF transition on margins? - The transition is expected to impact margins by approximately 150 basis points, with a recovery anticipated thereafter [44][46] Question: Can you provide details on the Comvest acquisition's accretion? - The acquisition is expected to provide $0.02 to $0.03 of core EPS accretion annually from 2026 onwards [50][52] Question: How does the company view the valuation of the Comvest acquisition? - The company believes the future value created from the acquisition justifies the valuation, highlighting strong growth potential and synergies [67][70] Question: What is the outlook for the U.S. long-term care business? - A triennial review of the long-term care business is expected in Q3, with trends showing utilization losses offset by lower incidents and higher claims terminations [97][99] Question: What drove the recent spike in credit losses? - The spike was primarily due to a few below-investment-grade loans, with the overall portfolio remaining 96% investment grade [110][112]

Financial Performance - Revenues increased by 5.9% year on year in US dollars, with EBITDA growing by 13.2% year on year [7][31] - For the first half of 2025, US dollar revenues grew by 7.3% year on year, and US dollar EBITDA grew by 13.4% year on year [7][31] - In local currency terms, revenues grew by 11.2% in Q2, outpacing inflation and nominal GDP [7][31] - EBITDA in local currency grew by 19.6%, reflecting a focus on profitable growth [8][31] - The company expects local currency revenue growth between 13% to 15% year on year and EBITDA growth between 14% to 16% for 2025 [8][36] Business Line Performance - Direct digital revenues grew by 57% year on year in dollar terms, now contributing 16.5% of total group revenues [9][31] - Telecom and infrastructure segment revenues grew by 2% in US dollars and 7.4% in local currency terms on a like-for-like basis [17][31] - EBITDA margins increased to 47.8% in Q2, reflecting strong operational performance [17][31] Market Performance - Strong double-digit revenue growth was delivered across all markets except Bangladesh, where a gradual recovery is noted [24][31] - In Ukraine, revenues grew by 25.9% and EBITDA by 23.6% in Q2, with first-half revenues up 35.8% and EBITDA up 38.5% [25][31] - Beeline Kazakhstan's revenues grew 14.5% on a like-for-like basis, accounting for TNS Plus deconsolidation [24][31] Company Strategy and Industry Competition - The company is focused on an asset-light model, prioritizing large population underserved markets and expanding digital services [13][36] - The integration of AI-powered features across platforms is being accelerated to enhance user experience [9][36] - The company is exploring strategic transactions to unlock value, including the upcoming Nasdaq listing for Kyivstar [12][36] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business despite macroeconomic and geopolitical volatility [36][36] - The company is closely monitoring inflation trends, which have increased slightly across markets [37][36] - The outlook for continued value creation remains strong, with a focus on sustainable growth [36][36] Other Important Information - The company completed a $100 million share buyback program, repaying bond maturities and enhancing financial flexibility with a $200 million private bond issuance [12][36] - The digital ecosystem is expanding, with total digital monthly active users reaching 119.7 million, a 7% year-on-year increase [26][31] Q&A Session Summary Question: Can you explain the technical aspects of the Engro sale and its impact on the holding company? - The proceeds from the Engro sale will be upstreamed to the holding company in equal installments through dividends, allowing for debt repayments or potential M&A opportunities [41][42] Question: What should we expect regarding the SPAC's impact on third-quarter financials? - The SPAC's impact will be calculated based on the closing price of the stock on the first trading day, with an expected noncash charge of $150 to $200 million recognized in Q3 [45][46] Question: What strategies are in place to drive 4G adoption and its impact on revenue? - The company is focusing on increasing coverage and quality of 4G services, along with smartphone initiatives to drive adoption [52][55] Question: How does the company plan to monetize its fintech assets like JazzCash? - The company is patient in developing the value of its fintech assets, with significant growth momentum expected before any monetization efforts [87][88] Question: When can we expect the going concern language to be removed? - The main reasons for the going concern language are now off the table, and management is optimistic about removing it by Q3 [100][101]

Financial Data and Key Metrics Changes - Super Group reported record total revenue of $579 million, up 50% year over year [9] - Adjusted EBITDA reached an all-time high of $157 million, representing 78% year over year growth with a margin of approximately 27% [10][21] - Total sports wagering was $958 million for the quarter, up 15% year over year [19] Business Line Data and Key Metrics Changes - Sports betting wages increased by 15% year over year, while casino wages grew by 24% [10] - The BET Builder product contributed significantly to revenue growth [10] - The company achieved a record average of 5.5 million unique monthly active customers, representing 21% year over year growth [19] Market Data and Key Metrics Changes - Revenue in Europe surged by 53% year over year, with the UK leading at 83% growth [11] - Africa saw a 59% year over year growth, with Ghana growing 63% and South Africa 31% [12] - North America grew by 23% year over year, with Canada (excluding Ontario) increasing by 22% [14] - APAC faced challenges with a 6% year over year revenue decline, an improvement from a 13% decline in the previous quarter [16] Company Strategy and Development Direction - The company is exiting the U.S. high gaming market to focus on capital discipline and long-term profitability [7][18] - A new Group Chief Technology Officer has been appointed to enhance innovation and operational efficiencies [6] - The company is investing in technology platforms and exploring opportunities in the crypto space [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's momentum, particularly with the upcoming football season [28] - The exit from the U.S. market is seen as a strategic move to reallocate resources to more profitable markets [34] - Future growth is expected from a full calendar of global sporting events and enhanced trading and pricing strategies [23] Other Important Information - The company declared a regular cash dividend of $0.04 per share in June, totaling $0.08 for 2025 [21] - A one-time restructuring cash cost of approximately $15 million is anticipated due to the U.S. exit [19] Q&A Session Summary Question: Insights on the raised guidance and potential concerns for Q3 - Management indicated that July started strong and emphasized the importance of the upcoming football season as a key driver for growth [28] Question: Reasons for the U.S. exit decision - The decision was based on high operational costs and the lack of a clear path to profitability in the U.S. market [34] Question: Marketing strategies and customer growth - Management highlighted the importance of reallocating marketing budgets to more effective channels and the positive impact of sponsorships like F1 [42] Question: Future gaming margins and opportunities - Management believes that gaming margins could reach closer to 20% with improved product offerings and risk management [49] Question: Competitive pressures in Ontario - Management noted that marketing returns and customer acquisition costs are key challenges in Ontario, but they are optimistic about future growth [58] Question: Cash balance and capital deployment - The company plans to maintain flexibility in capital deployment, focusing on high-return opportunities and consistent dividend payments [65]

Financial Data and Key Metrics Changes - Super Group reported record total revenue of $579 million, up 50% year over year [7] - Adjusted EBITDA reached an all-time high of $157 million, representing 78% year over year growth with a margin of approximately 27% [8][18] - Total sports wagering was $958 million for the quarter, up 15% year over year [17] Business Line Data and Key Metrics Changes - Sports betting revenue increased by 15% year over year, while casino wagering grew by 24% [8] - BET Builder, an innovative parlay product, contributed significantly to growth [8] - The U.S. revenue was up 112% year over year, but the company plans to exit the U.S. high gaming market [13][16] Market Data and Key Metrics Changes - Europe’s revenue surged 53% year over year, with the U.K. leading at 83% growth [9] - Africa saw a 59% year over year growth, with Ghana growing 63% [10] - North America grew 23% year over year, with Canada (excluding Ontario) increasing by 22% [12] Company Strategy and Development Direction - The company is focusing on capital discipline and long-term profitability by exiting the U.S. market [16] - Investment in technology and innovation is a priority, highlighted by the appointment of a Group Chief Technology Officer [5] - The company is exploring opportunities in the crypto space to enhance payment processing and attract new customers [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business retention rates and growth momentum, particularly with the upcoming football season [25][26] - The company anticipates a one-time restructuring cash cost of approximately $15 million due to the U.S. exit [17] - Future growth drivers include a full calendar of global sporting events and enhanced trading and pricing strategies [20] Other Important Information - The company declared a regular cash dividend of $0.04 per share in June, totaling $0.08 for 2025 [18] - A non-cash impairment adjustment of $63.9 million was recorded due to the U.S. exit [34] Q&A Session Summary Question: Insights on the raised guidance and potential concerns for Q3 - Management indicated that July started strong and emphasized the importance of the upcoming football season as a key driver for performance [25][26] Question: Reasons for the U.S. exit decision - The decision was based on high operational costs and the lack of a clear path to profitability in the U.S. market [31][32] Question: Marketing strategies and customer growth - Management discussed redeploying marketing budgets into more effective channels and the impact of sponsorships like F1 on customer engagement [37][39] Question: Future gaming margins and structural improvements - Management believes that with better parlay products and improved risk management, gaming margins could approach 20% [46] Question: Progress on iGaming upgrades and cash deployment plans - The company is focused on investing in high-return opportunities and maintaining a strong cash position for future growth [61][62]

LexinFintech Holdings (LX) Q2 2025 Earnings Call August 07, 2025 07:00 AM ET Speaker0Thank you for standing by and welcome to the Lexion Fintech Holdings Limited Second Quarter twenty twenty five Earnings Conference Call. All participants are in listen only mode. There will be a presentation followed by a question and answer session. I would now like to hand the conference over to Mr. Wilhelm.Please go ahead.Speaker1Thank you, operator. Hello, everyone. Welcome to our second quarter twenty twenty five earni ...

Pacific Basin Shipping (02343) H1 2025 Earnings Call August 07, 2025 06:00 AM ET Speaker0Welcome to today's Pacific Basin twenty twenty five interim results announcement conference call. I am pleased to present chief executive officer, mister Martin Frugaard, and chief financial officer, mister Jimmy Ng. For the first part of this call, all participants will be in listen only mode. And afterwards, there will be a question and answer session. Mister Frugaard, please begin.Speaker1Thank you. Yeah. Welcome, la ...