Viemed Healthcare (NasdaqCM:VMD) FY Conference January 15, 2026 10:00 AM ET Company ParticipantsJoe Dorame - Managing DirectorTodd Zehnder - COOCasey Hoyt - CEOJoe DorameHello and welcome to the VieMed Healthcare Fireside Chat. My name is Joe Dorame, Managing Partner at Lytham Partners, and today I will be moderating a Q&A discussion with Casey Hoyt, Chief Executive Officer, and Todd Zehnder, Chief Operating Officer at VieMed, which trades on the Nasdaq under the ticker VMD. Let's get started. Casey and Tod ...

Summary of ADTRAN Conference Call Company Overview - **Company**: ADTRAN - **Industry**: Communications and Networking - **Key Executives**: Tom Stanton (Chairperson and CEO), Tim Santo (CFO) Key Points Financial Performance - **Optical Networking Solutions**: Increased by 24% year-over-year in Q3 2025, indicating strong sales execution and recovery from supply chain issues [4][5] - **Profitability Metrics**: Operating margin improved to approximately 5%, attributed to cost discipline and leveraging scale [6] - **Gross Margin Expectations**: Projected to remain in the range of 42%-43%, with a positive trend anticipated across product lines [40] Market Opportunities - **European Market**: Significant opportunity in the Huawei replacement market, estimated at around $800 million annually, primarily in Europe [8][20] - **Access Business**: Expected strength in the first half of 2026 as European carriers begin to come online [7] - **BEAD Program**: Anticipated early revenue in the second half of 2026, with a material increase expected in 2027 [10][17] Customer and Inventory Insights - **Customer Inventory**: No significant inventory issues reported; customers are purchasing as needed [28][32] - **AI Integration**: Launch of Clarity, an AI tool for network maintenance and troubleshooting, showing positive beta testing results [33][57] Competitive Landscape - **Market Position**: ADTRAN feels confident in its competitive position, particularly in Europe where fewer competitors exist [48][49] - **Impact of Mergers**: The merger between Nokia and Infinera has created opportunities for ADTRAN as customers seek alternatives [51] Regulatory and Legislative Environment - **EU Legislation**: Discussions around funding for replacing old infrastructure are ongoing, which could benefit ADTRAN in the long term [24][25] Strategic Focus - **Sales and Growth**: Plans to optimize operating costs while increasing sales resources to drive growth [62] - **M&A Activity**: Limited opportunities for consolidation in the optical space, but potential remains for smaller players [60][61] Investor Sentiment - **Market Perception**: There is a belief that the market may be undervaluing ADTRAN's performance and potential, with consistent execution expected to eventually reflect in stock performance [63][64] Additional Insights - **Supply Chain Management**: Successfully navigating supply chain pressures, with confidence in maintaining guidance despite some cost pressures [42] - **Long-term Vision**: Focus on upgrading existing infrastructure to meet the demands of hyperscalers and larger carriers [34][36] This summary encapsulates the key insights and strategic directions discussed during the ADTRAN conference call, highlighting the company's performance, market opportunities, and future outlook.

NeurAxis (NYSEAM:NRXS) FY Conference Summary Company Overview - **Company Name**: NeurAxis - **Ticker**: NRXS - **Industry**: Med Tech, specifically focused on neuromodulation therapies for gastrointestinal (GI) disorders - **Market Position**: Growth stage company with over 10 years of experience, recently expanded from pediatric to adult indications [2][3] Key Points and Arguments Corporate Developments - NeurAxis has secured a **Category I CPT code** for its PENFS technology effective January 1, 2026, which is crucial for scaling the technology and obtaining insurance coverage [3][4][21] - The company has expanded its **commercial payer coverage** to over **100 million covered lives**, enhancing access to its treatments [4][24] - In 2025, NeurAxis reported revenues exceeding **$3 million** with a gross margin of approximately **84%** [4][20] Market Opportunity - The **serviceable available market** for NeurAxis is estimated at **$22 billion** in the U.S., with specific indications like functional abdominal pain and IBS representing a **$3 billion market opportunity** [8][9] - There are about **6 million patients** in the U.S. with functional abdominal pain and IBS, with **10%** classified as debilitated [9] Clinical Focus - NeurAxis is concentrating on **functional abdominal pain** and **functional dyspepsia** in both pediatric and adult populations, with ongoing clinical trials for multiple indications [5][6] - The company emphasizes the importance of strong clinical data to support insurance coverage and reimbursement, which is critical for revenue growth [6][10] Competitive Advantage - NeurAxis is the only FDA-approved treatment recommended in pediatric guidelines for gut-brain interaction disorders, providing a unique market position [7][10] - The company has conducted **16 publications** of investigator-initiated research, demonstrating the efficacy and safety of its technology [12] Financial Outlook - NeurAxis has a clear path to profitability, with expectations for gross margins to approach **90%** in the coming year [29] - The company had **$5 million** in cash at the end of the previous quarter, with a monthly burn rate of approximately **$450,000-$500,000** [29][30] Challenges and Strategies - The company faces challenges in scaling due to previous lack of insurance coverage and the need for more trained providers to utilize the technology [17][22] - NeurAxis is actively working to increase insurance policy coverage and improve its market presence through strategic partnerships and data presentation [26][27] Additional Important Information - The management team is experienced, with 90% of the team having been involved in the company's growth [8] - The company is focused on maintaining a strong intellectual property portfolio, which is expected to last until **2039** [18] - NeurAxis is committed to transitioning its technology to frontline treatment options for patients, aiming for earlier intervention and better long-term outcomes [27][28]

Summary of ISG Global Index Call - Q4 2025 Company and Industry Overview - The call was hosted by Information Services Group (ISG), focusing on the IT and business services industry, which influences $200 billion of technology spending annually [5][11] - The ISG Index measures the health and growth of the technology industry, including managed services and cloud-based software and infrastructure services [11] Key Insights and Arguments Market Performance - The Americas led market growth in 2025, crossing $23 billion in managed services ACV for the first time, driven by strong ITO activity and a rebound in BFSI [12] - EMEA saw a 20% increase in ACV for engineering services, with cloud demand accelerating and deal sizes expanding [13] - The global combined market reached $34.3 billion in ACV in Q4 2025, marking a 16% year-over-year increase and the fourth consecutive quarter above $30 billion [14] - The as-a-service market grew 29% globally in 2025, while managed services grew only 1.3% [14][15] Segment Performance - SaaS accounted for 66% of the total combined market, with significant growth in cloud, software, and consumption-based services [15] - Managed services faced constraints due to fewer mega-deals and pricing pressure, with a slight decline in Q4 2025 [15][16] - Engineering services were the fastest-growing segment, with a 35% increase in ACV year-over-year, driven by large integrated multinational providers [21] - BPO generated over $2 billion in ACV in Q4 2025, up 13% year-over-year, but faced annual declines [24][25] Regional Insights - The Americas generated $23.5 billion in managed services ACV in 2025, up 9% from 2024, while EMEA's managed services ACV totaled $16.7 billion, down 1.4% [28][30] - Asia Pacific struggled, with managed services ACV down 27% year-over-year, primarily due to a decline in the smallest deal category [31] Future Outlook - For 2026, managed services growth is forecasted at 2.1%, while as-a-service is expected to grow by 20% [54] - Enterprises are navigating macroeconomic uncertainties, but investments in AI and cloud infrastructure are expected to continue [54] - The demand for AI-driven outcomes and flexible commercial models will shape the future of the outsourcing market [55] Additional Important Insights - The engineering segment showed strong growth across various sectors, with EMEA leading in ER&D spend, up 86% for the year [22] - AI is now a dominant driver of growth, with hyperscaler investments significantly impacting the market [13][41] - The BPO market is in a reset mode, with uneven growth concentrated in specific functions and industries, particularly industry-specific BPO [26][84] - The call highlighted the importance of AI in transforming traditional outsourcing models, with a focus on hyper-personalization and domain-led transformation [84] This summary encapsulates the key points discussed during the ISG Global Index call, providing insights into market performance, segment growth, regional dynamics, and future outlooks in the IT and business services industry.

Summary of GRI Bio Inc. Extraordinary General Meeting Company Overview - **Company Name**: GRI Bio Inc. - **Stock Symbol**: NasdaqCM: GRI - **Meeting Date**: January 15, 2026 Key Points Discussed Meeting Attendance and Quorum - A total of **4,874,725 shares** were present, representing **48.16%** of the outstanding voting stock, confirming a quorum for the meeting [2] Proposals Voted Upon 1. **Amendment Proposal**: - Approval of an amendment to the Amended and Restated Certificate of Incorporation to effect a **reverse stock split** of the company's Common Stock at a ratio between **1 for 2** and **1 for 30**. - The exact ratio will be determined by the Board of Directors, and they have the discretion to abandon the proposed amendment [3] 2. **Adjournment Proposal**: - Approval for the adjournment of the special meeting to a later date if necessary, to allow further solicitation and voting of proxies in case there are insufficient votes for the amendment proposal [4] Voting Process - Voting was conducted via proxy and electronic ballot, with an option for stockholders to vote during the meeting [5] - Preliminary results indicated that both the amendment and adjournment proposals received the requisite votes for approval [5] Conclusion of Meeting - Both proposals were declared duly approved, with final voting results expected to be reported on Form 8-K to the SEC within four business days [6] - The meeting concluded with appreciation expressed to stockholders for their participation [6][7] Additional Important Information - The meeting was attended by key executives including the CEO, CFO, and legal counsel, indicating a structured approach to governance and compliance [1] - The ability for the Board to abandon the reverse stock split proposal highlights a level of flexibility in corporate governance [3]

Kinross Gold (NYSE:KGC) Update / briefing January 15, 2026 09:00 AM ET Company ParticipantsMatthew Murphy - DirectorNicos Pfeiffer - VP of Geology and Technical EvaluationsWill Dunford - SVP and CTODavid Shaver - SVP of Investor RelationsYves Breau - VP of Metallurgy and EngineeringPaul Rollinson - CEOConference Call ParticipantsCarey MacRury - Equity Research AnalystOperatorGood morning. My name is Jenny, and I will be your conference operator today. At this time, I would like to welcome everyone to the Ki ...

Summary of USA TODAY's Conference Call Company Overview - **Company**: USA TODAY Co. - **Industry**: Media and Publishing Key Operating Pillars 1. **Content and Audience**: - Focus on expanding content strategy beyond news to engage a broader audience and increase repeat visits [4][5] - Achieved approximately 187 million unique visitors monthly, ranking among the top three in the U.S. digital news ecosystem [5] - Emphasis on verticals such as sports, entertainment, and events to enhance audience engagement [6] 2. **Diversified Digital Revenue Streams**: - Strategy includes digital advertising, subscriptions, e-commerce, digital marketing solutions, and AI licensing [6][7] - Digital revenue accounted for 47% in Q3 2023, with expectations to exceed 50% by 2026 [10][14] 3. **Strengthening Capital Structure**: - Aim to reduce debt to approximately one times EBITDA, having already decreased debt by nearly $1 billion since the 2019 merger [7][8] - Focus on maintaining liquidity and investing in business growth [9] Digital Transformation - Transitioning from a legacy print business to a digital-first model, with a goal of achieving over 50% digital revenue by 2026 [10][12] - Comparison to New York Times, which successfully transitioned to a growing digital business, indicating potential for multiple re-rating [10][12] Revenue Growth and Engagement - AI licensing agreements with major companies like Meta, Microsoft, and Amazon are expected to drive new revenue streams [14][15][26] - Digital advertising is seeing a resurgence as brand advertisers return to quality media platforms [17][18] - New initiatives like "Play" are enhancing audience engagement and driving additional revenue [19][20] AI and Licensing - AI applications are viewed as a potential net positive for the media industry, with ongoing efforts to block unauthorized scraping of content [21][25] - Licensing deals with major tech companies are expected to enhance revenue opportunities [24][26] Legal Matters - Ongoing antitrust lawsuit against Google aims to create a level playing field in the digital advertising ecosystem [27][30] - Positive developments in litigation, including favorable summary judgment and upcoming trial milestones [28][29] Rebranding Strategy - Rebranding to USA TODAY aimed to leverage brand equity and improve recognition among advertisers and consumers [32][36] - The rebranding is expected to open up new national advertising revenue opportunities [36] Cost Management and Capital Allocation - A $100 million cost savings program focused on sustainability and efficiency, including automation and outsourcing [40][41] - Debt repayment remains a top priority, with plans to reduce leverage and increase flexibility for future investments [44][46] Investor Insights - Emphasis on long-term growth and transformation, with a call for patience from investors as the company navigates its transition [48][49] - Confidence in future revenue growth driven by diversified digital streams and a large audience base [50] Conclusion - USA TODAY is positioned for significant growth as it continues its digital transformation, with multiple revenue streams and a focus on audience engagement. The company is optimistic about its future prospects, particularly in light of ongoing legal developments and strategic initiatives.

Talen Energy Conference Call Summary Company Overview - **Company**: Talen Energy (NasdaqGS:TLN) - **Date of Call**: January 15, 2026 - **Key Participants**: CEO Mark McFarland, President Terry Nutt, CFO Cole Muller Key Industry and Company Insights M&A Activity - Talen Energy announced a **$3.45 billion acquisition** of three high-quality assets, including two Combined Cycle Gas Turbines (CCGTs) and a QuickStart peaker, from ECP, which is expected to deliver over **15% adjusted free cash flow per share accretion** [3][4][14] - The acquisition implies a **6.6 times 2027 estimated Adjusted EBITDA multiple** with a high unlevered free cash flow conversion rate of approximately **85%** [4][13] - The deal is expected to maintain Talen's balance sheet strength and preserve financial flexibility, targeting a net leverage of **3.5 times or less** by the end of 2026 [4][15] Portfolio Diversification - The acquisition will diversify Talen's generation portfolio, adding **2.6 gigawatts** of efficient natural gas assets, which is equivalent to another Susquehanna nuclear facility [4][10] - Talen is expanding its presence in **Western PJM**, particularly in Ohio and Indiana, capitalizing on data center tailwinds and access to low-cost natural gas from the Marcellus and Utica regions [5][10] Market Dynamics - Power prices have risen, and spark spreads have expanded, although there has been some pullback due to a mild winter [6] - The **2027-2028 PJM auction** would have cleared a **530-megawatt-day** without the cap, indicating overall market tightness [6] - The company anticipates a year of rationalization in 2026, with new contracts and projects expected to emerge [7][8] Financial Performance and Projections - Talen's projected adjusted free cash flow per share is expected to increase from just over **$5** in 2024 to more than **$30** in three years, driven by premium data center contracts and baseload asset acquisitions [18] - The acquisition is projected to create an adjusted free cash flow per share uplift of at least **$4** for the 2027 outlook [16] Strategic Focus - Talen remains committed to its **$2 billion share repurchase program** and is exploring further data center contracting opportunities [17] - The company is focused on executing its **flywheel strategy**, which includes acquiring assets, contracting, and returning cash to shareholders [20] Additional Insights - ECP will take approximately **$900 million** or about **40%** of its equity consideration in Talen shares, becoming a significant equity partner [5][13] - The acquisition is expected to close in the second half of 2026, pending regulatory approvals [16] - Talen's management emphasized the importance of maintaining a balanced portfolio with a mix of baseload and peaking assets to manage market volatility effectively [64][66] Conclusion - Talen Energy is poised for significant growth in 2026, driven by strategic acquisitions and a focus on diversifying its energy portfolio while maintaining financial flexibility and shareholder value. The company is optimistic about the future, with a strong emphasis on executing its growth strategy and capitalizing on market opportunities.

Ocugen (NasdaqCM:OCGN) Update / briefing January 15, 2026 08:30 AM ET Company ParticipantsSwayampakula Ramakanth - Managing DirectorLejla Vajzovic - Clinical Trial InvestigatorJay Chablani - Clinical Trial InvestigatorHuma Qamar - CMOArun Upadhyay - Chief Scientific OfficerElemer Piros - Managing DirectorArshad Khanani - Clinical Trial InvestigatorShankar Musunuri - Chairman, CEO, and Co-FounderConference Call ParticipantsRobert LeBoyer - Senior Biotechnology AnalystMichael Okunewitch - Senior Biotechnology ...

Biofrontera (NasdaqCM:BFRI) FY Conference January 15, 2026 08:30 AM ET Company ParticipantsBen Shamsian - VPRobert Blum - Managing PartnerFred Leffler - CFOHermann Lübbert - Founder and Executive ChairmanFrançois Roberge - CEORobert BlumHello, everyone. Welcome to the Lytham Partners 2026 Investor Healthcare Summit. I'm Robert Blum, Managing Partner here at Lytham and your host for today's event. We're excited to introduce this group of companies driving innovation across the healthcare landscape today. Thr ...