Financial Performance - Revenue reached $33 billion, with organic revenue up by 6%[13] - Adjusted EBITDA was $212 million[13] - Adjusted diluted EPS stood at $057[13] - Free cash flow was $(43) million[13] Business Growth - New business wins totaled $307 million in annualized revenue during Q2 2025[11, 16] - The sales pipeline increased year-over-year to $24 billion as of Q2 2025[16] - $795 million of incremental revenue for 2025 was won through Q2 2025[16] Capital Allocation and Returns - Operating return on invested capital increased year-over-year to 46% in Q2 2025[16, 24] - The company repurchased an additional 26 million shares[11] Balance Sheet and Liquidity - Total debt amounted to $2686 million[24] - Net debt was $2545 million, with a net leverage ratio of 30x[24] - Liquidity of $1208 million was available at the end of Q2 2025[24] FY 2025 Guidance - Organic revenue growth is projected to be between 35% and 65%[25] - Adjusted EBITDA is expected to range from $865 million to $885 million[25] - Adjusted diluted EPS is forecasted to be between $243 and $263[25] - Adjusted EBITDA to free cash flow conversion is targeted at 25% to 35%[25]

Financial Performance - Q2 2025 - Adjusted revenue reached $474 million, a 11.6% year-over-year increase, or 10.4% on a constant currency basis[47] - Gross margin was 47.2%, a 410 basis points increase year-over-year[47] - Adjusted operating margin was 9.2%, a 290 basis points increase year-over-year[47] - Adjusted EPS was $0.35, a 133.3% increase year-over-year, or 126.7% on a constant currency basis[47] Revenue Breakdown by Group - Q2 2025 - Active Group revenue was $356 million, a 16.2% year-over-year increase[49] - Work Group revenue was $108 million, a 2.4% year-over-year increase[51] Financial Outlook - Q3 2025 - Revenue is projected to be between $450 million and $460 million, representing a 3.3% increase at the midpoint, or 2.6% on a constant currency basis[58] - Gross margin is expected to be approximately 47.0%, a 170 basis points increase compared to the previous year[58] - Adjusted operating margin is expected to be approximately 8.3%, a 60 basis points increase compared to the previous year[58] - Adjusted EPS is projected to be between $0.28 and $0.32, representing a 3.4% increase year-over-year at the midpoint[58] FY24 Performance - Adjusted Revenue was $1.75 billion, a 507% increase compared to FY23[7,8] - Adjusted EPS increased 154%[9]

Financial Performance - OPENLANE achieved consolidated revenue growth of 9% reaching $481.7 million in Q2 2025[10, 40] - Adjusted EBITDA increased by 21% to $86.7 million[10, 40] - Adjusted EBITDA margin improved by 190 basis points to 18%[40] - Income from continuing operations saw a significant increase of 212% reaching $33.4 million[40] - Adjusted Free Cash Flow increased by 34% to $86.5 million[40] - Operating Adjusted EPS increased by 74% to $0.33[40] Segment Performance - The marketplace segment experienced substantial growth, with dealer vehicles sold increasing by 21%[11] - The finance segment demonstrated strong performance, growing average managed receivables and increasing adjusted EBITDA[11] Guidance - OPENLANE raised its 2025 guidance, with revised expectations for Income from Continuing Operations between $132 million and $140 million[12, 52] - Adjusted EBITDA guidance was revised upward to a range of $310 million to $320 million[12, 53] - Operating Adjusted EPS guidance was also increased to a range of $1.12 to $1.17[53]

Financial Performance - Capri Holdings' revenue decreased by 60% (-77% Constant Currency) in 1Q Fiscal Year 2026 [11] - Michael Kors' revenue decreased by 59% (-73% Constant Currency) in 1Q26 [18] - Jimmy Choo's revenue decreased by 64% (-92% Constant Currency) in 1Q26 [25] - The adjusted EPS was $050, driven by better than anticipated results at Michael Kors and Jimmy Choo as well as a discrete tax benefit [11] Strategic Initiatives & Outlook - Capri Holdings expects revenue of approximately $815 - $835 million for 2Q26 and approximately $3375 - $345 billion for Fiscal Year 2026 [27] - The company anticipates net interest income of approximately $15 million for 2Q26 and approximately $85 - $95 million for Fiscal Year 2026 [27] - The company expects a diluted earnings per share (Continuing Operations) of approximately $010 - $015 for 2Q26 and approximately $120 - $140 for Fiscal Year 2026 [27] Versace Sale - Capri Holdings entered into an agreement to sell Versace to Prada for $1375 billion in cash [6] - The transaction is expected to close in the second half of calendar 2025 [6] - Capri plans to use the proceeds to substantially reduce debt levels, invest in future growth, and reinstate a share repurchase program in the future [8] Customer Database - The customer database increased by 9% versus prior year [11] - Global database increased 9% year-over-year for Michael Kors [18] - Global database increased 9% year-over-year for Jimmy Choo [25]

Financial Performance - Q3 Fiscal 2025 - Revenue increased by 8.7% year-over-year to $80.7 billion[13] - Adjusted diluted EPS increased 19.8% year-over-year to $4.00[10, 12] - Consolidated adjusted operating income grew by 20.6% year-over-year[12] Segment Performance - Q3 Fiscal 2025 - U S Healthcare Solutions segment revenue increased by 8.5% to $72.9 billion, with operating income up 29.1% to $0.9 billion[15, 16] - International Healthcare Solutions segment revenue increased by 10.5% to $7.8 billion, but operating income decreased by 12.9% to $156.2 million[17, 18] - On a constant currency basis, International Healthcare Solutions revenue increased by 8.8% and operating income decreased by 16.2%[17, 18] Fiscal Year 2025 Guidance - Cencora updated its fiscal year 2025 adjusted diluted EPS guidance to a range of $15.85 to $16.00[10] - The company anticipates consolidated revenue growth of approximately 9%[20] - Adjusted operating income is projected to increase by 15% to 16%[20]

Financial Performance - Carlyle reported income before provision for income taxes of $441 million, with a margin of 280% for Q2 2025[3] - Net income attributable to The Carlyle Group Inc common stockholders was $320 million, or $087 per share on a diluted basis for Q2 2025[13] - Distributable Earnings (DE) were $431 million for Q2 2025, or $091 per common share on a post-tax basis[18] - Fee Related Earnings (FRE) were $323 million for Q2 2025[18] - Realized Net Performance Revenues were $88 million for Q2 2025[18] Assets Under Management (AUM) - Total Assets Under Management reached $465 billion as of June 30, 2025, a 7% increase year-over-year[6, 18] - Fee-earning Assets Under Management totaled $325 billion, up 6% year-over-year[18] - Perpetual Capital Fee-earning AUM was $101 billion, representing 31% of total Fee-earning AUM[18] Capital Management - A quarterly dividend of $035 per common share was declared, payable on August 28, 2025[4, 18] - The company repurchased or withheld 23 million shares of common stock in Q2 2025, totaling $104 million[18] - As of June 30, 2025, $06 billion of repurchase capacity remained under the $14 billion repurchase authorization[18]

Second Quarter 2025 Performance - Second quarter revenue reached $148 million, with organic revenue growth of 6%[13] - Adjusted Earnings Per Share (EPS) increased 31% to $0.21, and Adjusted EBITDA margin increased 23%[13] - Surgical Solutions revenue increased 11% compared to the prior year quarter, driven by double-digit growth in Ultrasonics[39] - Restorative Therapies revenue declined 32% compared to the prior year quarter due to the divestiture of the Advanced Rehabilitation Business, while EXOGEN grew 11%[39] - Pain Treatments revenue increased 1% compared to the prior year quarter[39] Financial Metrics and Guidance - Adjusted Gross Margin increased 50 basis points due to improved product mix[40] - The company ended the second quarter with $33 million in cash and $341 million in debt outstanding[48] - Cash from operations was an inflow of $26 million in the second quarter[48] - The company reaffirms its 2025 financial guidance, projecting net sales in the range of $560 million to $570 million, representing organic growth of 6% to 8%[52] - Adjusted EBITDA is expected to be in the range of $112 million to $116 million, and Adjusted Earnings Per Share is projected to be in the range of $0.64 to $0.68[52] Strategic Initiatives and Future Outlook - The company received FDA 510(k) clearance for StimTrial and TalisMann, Peripheral Nerve Stimulation (PNS) products, targeting the chronic peripheral pain market[18, 20] - The PNS market is estimated to be growing above 20% annually in the U S and is expected to exceed $500 million by 2029, with an expected total addressable market of approximately $2 billion[20] - The company plans to invest in a direct sales force in the second half of 2025 and expects TalisMann and StimTrial to potentially generate $100 million or more of revenue[27] - The company forecasts at least 100 basis points of Adjusted EBITDA margin expansion in 2025[30] - The company expects cash from operations in 2025 to nearly double compared to 2024 and expects to reduce net leverage to below 2 5 times by the end of 2025[30, 48]

Financial Performance - Total revenue for Q2 2025 reached $489.93 million, reflecting a 12% year-over-year increase[66] - Creative Subscriptions Annualized Recurring Revenue (ARR) stood at approximately $1.4 billion as of June 30, 2025, a 10% increase year-over-year[11, 24] - Total bookings for Q2 2025 amounted to $509.92 million, representing an 11% year-over-year growth[66] - The company anticipates generating a free cash flow (FCF) margin of 30-31% in 2025[58] - Non-GAAP gross margin was 70% in Q2 2025[67] Business Segments - Partners revenue for Q2 2025 was $183.32 million, a 24% increase year-over-year[11, 73] - Transaction revenue for Q2 2025 reached $63.55 million, an 18% increase year-over-year[11, 73] User Cohorts and Marketing - New cohort bookings growth accelerated to 14% in Q2 2025 over the Q2 2024 cohort[36] - The company estimates approximately $18.4 billion in expected future bookings over the next 10 years from existing cohorts[45] Geographic Reach - Approximately 40% of the company's revenue comes from outside North America[11] Acquisition - Wix acquired Base44 in June 2025, which is projected to generate $40-$50 million of ARR by the end of 2025[17]

Company Overview - Valens Semiconductor is a fabless semiconductor company listed on NYSE under the ticker VLN[13] - The company has shipped over 40 million chipsets and has over 100s of customers[13] - Valens has accumulated ~$05 billion in cumulative R&D expenses and holds 125 patents[13, 19] - In Q2 2025, Valens reported revenues of $171 million[13] Financial Performance - The company's revenue for 2024 was $579 million, with $363 million from Cross-Industry Business and $216 million from Automotive[68] - In Q2 2025, revenue was $171 million, with $128 million from Cross-Industry Business and $43 million from Automotive[69] - GAAP gross margin for Q2 2025 was 635%, with Cross-Industry Business at 678% and Automotive at 505%[71] - Adjusted EBITDA loss for Q2 2025 was $(40) million[71] Market Opportunities - The Total Addressable Market (TAM) for video conferencing is projected to reach $350 million by 2028/29[25] - The Total Addressable Market (TAM) for automotive is projected to reach $45 billion by 2029, with 14 billion chips per year[34] - The Total Addressable Market (TAM) for industrial machine vision is projected to reach $460 million by 2028/29[52] - The Total Addressable Market (TAM) for single-use endoscopy is projected to reach $625 million, assuming a 50% shift to single-use endoscopes[61] Future Outlook - The company is targeting revenue between $66 million and $71 million for 2025, representing a ~14%-23% year-over-year growth[72, 78] - Valens aims for revenue goals of $220-$300 million by 2029, with a CAGR of ~30%-~40% from 2024[75] - The company's long-term goals include a gross margin of 50%-60% and an adjusted EBITDA margin of 15%-20%[75, 80]

Financial Performance - Q3 FY25 revenue reached $3.6 billion, a 2% increase compared to $3.49 billion in Q3 FY24[43] - Adjusted EBITDA for Q3 FY25 was $274 million, up 7% from $257 million in Q3 FY24[43] - Adjusted Diluted EPS increased to $0.56 in Q3 FY25, compared to $0.51 in Q3 FY24[43] - Free Cash Flow for Q3 FY25 was $100 million[13] Business Development and Backlog - Backlog remained strong at $45 billion[13] - The company secured a Space Force Range Contract worth $4 billion, although it is currently under protest and not included in the backlog[22] - The company received multiple intelligence awards totaling over $500 million[24] - On-contract growth modifications and extensions provided a $2+ billion benefit in bookings[25] Debt and Deleveraging - Net leverage reduced to 3.5x, driven by operating and investing activity contributions[12, 52] - The company targets net leverage of less than 3x by FY26 year-end[54] - The company has $738 million in cash on hand and an $850 million undrawn revolving credit facility[57] Guidance - The company raised its FY25 organic revenue guidance to $13.975 - $14.175 billion[12, 58] - The company anticipates interest expense of $345M - $355M and capital expenditures of $35M - $40M for FY25[66] Nuclear Market - The global nuclear market demand is projected to reach $91 billion by FY2026 and $68 billion by FY2030[33] - The company's total addressable market in the nuclear sector is expected to more than double by 2035, reaching ~$20 billion[40]