Q1 2025 Earnings Call May 12th, 2025 Q1 2025 Legal Disclaimer 2 This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of managem ...

the impact of restrictions imposed by our credit facility; the level and volatility of interest rates; environmental liabilities; inflation risks; cybersecurity risks; as the impact of tariffs on our industrial tenants and construction costs; as well as other risks listed from time to time in our SEC filings; including but not limited to; our annual and quarterly reports. We have no obligation to revise or update any forward-looking statements, other than as imposed by law, as a result of future events or n ...

Financial Data and Key Metrics Changes - Total revenues grew 8% year over year to $272 million, driven by increased market recognition and growth in the data cloud marketplace [18][20] - Service revenue increased approximately 23% year over year to $94 million, while product revenue grew by about 2% year over year to $178 million [19][20] - Net income for the first quarter was $27 million, a decrease from 10.8% in the prior year period [24] Business Line Data and Key Metrics Changes - The Giga Cloud marketplace GMV grew more than 56% to $1.4 billion, with active 3P seller base increasing over 33% to 1,154 [11][12] - GMV from 3P sellers increased 50% year over year to $734 million, accounting for about 52% of total marketplace GMV [11] - The fulfillment center opened in Bremen, Germany supports growth initiatives across continental markets, contributing to strong performance in Europe with over 80% GMV growth [12][13] Market Data and Key Metrics Changes - Europe saw robust growth, with GMV increasing by over 70% year over year, while domestic U.S. markets experienced a 17% year over year decrease [20][21] - The buyer base grew more than 81% year over year, reaching nearly 10,000 for the first time [12] Company Strategy and Development Direction - The company is focused on disciplined and sustainable growth, with ongoing integration of Noble House and introduction of new SKUs while optimizing procurement costs [5][6] - The launch of the Wonder app aims to enhance efficiency in retail management and improve supplier engagement [15][16] - The company is exploring strategic M&A opportunities, particularly in Europe, to support growth and better service the brick-and-mortar space [40][41] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from recent tariff developments and the high level of uncertainty in global trade but expressed confidence in the company's ability to adapt [7][8] - The company expects near-term disruptions due to macro and industry headwinds but believes its platform positions it to capture long-term opportunities [9][10] - For Q2, the company anticipates total revenue between $275 million and $305 million, with expectations of a sequential deceleration in revenue growth [25] Other Important Information - The company repurchased approximately 3.7 million shares for about $61.8 million as part of its stock repurchase program [24] - The integration of Noble House is in Phase three, focusing on refreshing the product catalog and retiring underperforming SKUs [13][21] Q&A Session Summary Question: What drove results ahead of expectations? - Management noted strong growth in service and European markets as key factors [28] Question: What to expect for gross margin in Q2? - Management indicated uncertainty due to the dynamic environment and the time required for new SKUs to ramp up sales [29][30] Question: How does the marketplace empower buyers and sellers in Europe? - The marketplace offers flexibility and reach, allowing sellers to enter new markets without significant capital investment [34][35] Question: How do tariffs translate into higher prices? - Management clarified that tariffs do not directly translate to a dollar-for-dollar price increase for consumers [36] Question: Current thoughts on strategic M&A? - The company is interested in opportunities that support growth in Europe and enhance service to brick-and-mortar customers [40][41] Question: Clarification on product revenue reclassification? - Management confirmed that product revenues were reclassified into service revenues for better transparency [44][45] Question: Guidance for Q2 and expected deceleration in revenue growth? - The deceleration is primarily due to the integration of Noble House and softness in certain U.S. channels [49][50]

Financial Data and Key Metrics Changes - The company reported a significant reduction in non-GAAP operating expenses by 50% year-on-year in 2024, focusing on key priorities to enhance efficiency [16][11] - An equity offering was announced to extend the company's cash runway, which is expected to last until late in the third quarter of 2025 [15][11] Business Line Data and Key Metrics Changes - The company signed a third capsid license agreement with Eli Lilly, receiving an upfront fee of $18 million and potential additional payments of up to $1.4 billion across five disease targets [5][6] - The Fabry program achieved key de-risking milestones, with all patients in the Phase 1/2 STAR study completing at least 52 weeks of follow-up, indicating a positive mean eGFR slope [9][10] Market Data and Key Metrics Changes - The company is actively engaging in discussions with multiple potential partners for its Fabry disease program, indicating strong interest in its technology [12][32] - The FDA's recent interactions have been positive, with no significant changes in their approach to the company's programs, including Fabry disease [32][33] Company Strategy and Development Direction - The long-term vision is to focus on neurology as a core area, aiming to deliver transformational therapies while maximizing shareholder value [13][15] - The company is committed to securing a commercial partnership for the Fabry program to support its neurology mission and ensure sustainable funding [11][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the FDA's engagement and the clarity provided regarding the chemistry, manufacturing, and controls pathway for the BLA submission [10][32] - The company remains focused on advancing its neurology pipeline and securing necessary funding to support ongoing clinical trials [11][18] Other Important Information - The company plans to present data at the ASGCT Annual Meeting, showcasing advancements in its neurology pipeline and the effectiveness of its capsid delivery technology [8][18] - The company is exploring additional funding opportunities through collaborations related to its technology platforms [12] Q&A Session Summary Question: Can you provide more color on what exactly you plan to show in the top line eGFR data? - Management confirmed that they will share the updated mean eGFR slope and additional information at a later date [21][23] Question: How many potential partners are you currently in conversations with regarding STABBI? - Management indicated that there are multiple potential partners but did not disclose specific details [26] Question: Has the pace of conversations with potential partners changed due to the macro landscape? - Management reported that interactions with the FDA have been positive and have not impacted their program [33] Question: Do you still plan to file based on 52-week eGFR data? - Management confirmed that they are pursuing the agreement with the FDA to use 52-week eGFR data for the entire patient population [37] Question: Are all patients who were on ERT still off ERT? - Management confirmed that all 18 patients who started on ERT are still off ERT [46] Question: Is there any threshold for the eGFR slope that should be looked at? - Management stated they are not commenting on specific statistical significance at this time but confirmed the mean eGFR slope remains positive [48][49]

FedEx (FDX) 2025 Conference Summary Company Overview - **Company**: FedEx Corporation - **Event**: 32nd Annual BofA Industrial Transportation and Airlines Key Leaders Conference - **Date**: May 12, 2025 - **Speakers**: John Dietrich (EVP and CFO), Brie Carrera (EVP and Chief Customer Officer), and the FedEx IR team Key Points Industry Context - FedEx is navigating a challenging economic backdrop, particularly in the B2B sector, which is experiencing recessionary pressures, while B2C remains strong with positive consumer sentiment [20][18] - The company is adapting to recent tariff agreements with China, which are expected to impact shipping volumes and customer behavior [21][23] Strategic Initiatives - **Drive Program**: FedEx has successfully improved operating income (OI) despite revenue declines, showcasing effective cost management and commercial discipline [13][14] - **Network 2.0**: The initiative aims to achieve $2 billion in savings, with a focus on integrating operations without disrupting service levels [92][93] - **Tricolor Achievements**: This program is designed to optimize asset allocation across different freight types, targeting a $80 billion market opportunity [51] Customer Relationships - FedEx has re-engaged with Amazon as a customer for the first time since 2019, focusing on profitable large package deliveries, which will enhance average weight per package and yield [66][70] - The company emphasizes its strong relationships with small and medium-sized businesses (SMBs), maintaining a direct sales approach that supports over 90% of its revenue [108][109] Financial Performance - FedEx reported that its customer base generates approximately $2 trillion in gross merchandise value (GMV) across 2.5 million customers [16] - The company is on track to deliver $2.2 billion in savings for FY25 as part of its ongoing Drive initiative, despite facing inflationary pressures and operational challenges [90][91] Market Dynamics - The recent tariff changes are expected to create a temporary pause in shipping as customers reassess their strategies, particularly concerning inventory management ahead of the holiday season [26][27] - FedEx's international revenue is primarily driven by U.S. domestic operations, with 75% of revenue coming from domestic sources [40] Operational Challenges - The end of the de minimis exemption for low-value shipments from China is anticipated to significantly impact e-commerce volumes, particularly for small businesses [41][44] - FedEx is actively working to assist customers in navigating the complexities of new tariff regulations and compliance requirements [59][61] Future Outlook - FedEx is optimistic about its growth trajectory, particularly in Europe, where it aims to leverage its ground capabilities to improve service levels and profitability [120][122] - The company is focused on technological advancements to streamline operations and enhance customer service, including a shift towards a unified IT infrastructure [100][102] Additional Insights - FedEx's competitive advantage lies in its extensive global network and ability to adapt quickly to changing market conditions, which is crucial for maintaining customer trust and operational efficiency [17][50] - The company is committed to continuous improvement and innovation, ensuring that it remains a leader in the logistics and transportation industry [106][107]

Delivering the Future of Genomic Medicines May 2025 Forward-Looking Statements and Legal Disclaimers This presentation, and accompanying oral commentary, contains forward-looking statements regarding our current expectations. These forward-looking statements include, without limitation, statements relating to: the therapeutic and commercial potential and value of our product candidates and engineered capsids, including the ability of our zinc finger epigenetic regulators to address various neurological dise ...

Q1 2025 Disclaimer Forward-Looking Statements This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our future results of operations and financial position, our operational performance, our anticipated growth and business strategy, our future capital expenditures and debt service obligations, the projected costs, prospects and plans and objectives of management for ...

Magnachip Semiconductor (NYSE: MX) Q1 2025 Earnings Materials May 12, 2025 1 Forward-Looking Statements Information in this presentation regarding Magnachip's forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. All forward-looking statements included or incorporated by reference in this presentation, including expectations about estimated historical or future oper ...

Summary of Bolt Biotherapeutics Conference Call Company Overview - **Company**: Bolt Biotherapeutics (BOLT) - **Focus**: Development of immuno-oncology therapeutics, specifically targeting cancer through innovative antibody platforms Key Points Discussed Financial Overview - As of March 31, cash, cash equivalents, and marketable securities totaled **$58 million** [4] - Funding expected to support key milestones, including the Phase 1 trial for BDC3042 through mid-2026 [4] Clinical Programs - **BDC3042**: A first-in-class dectin-2 agonist antibody aimed at treating cancer - Phase 1 trial results presented at the American Association for Cancer Research (AACR) Annual Meeting [4][25] - **Enrollment**: 17 patients, including those with non-small cell lung cancer (NSCLC) [26] - **Safety Profile**: Well tolerated with no grade 4 or 5 adverse events reported [28] - **Efficacy**: Evidence of tumor size reduction in patients with prior treatments, particularly in NSCLC [31][37] - **BDC4182**: A next-generation immune-stimulating antibody conjugate (ISAC) targeting claudin 18.2 - Enrollment for the first-in-human Phase 1 study has opened in Australia [42] - Targeting advanced gastric and gastroesophageal cancers [50] Mechanism of Action - **BDC3042**: Engages and activates dectin-2 on tumor-associated macrophages (TAMs), converting them into tumor-destructive cells [11][12] - **Clinical Observations**: Enhanced immune response noted, particularly in patients previously treated with checkpoint inhibitors [12][60] Preclinical Data - BDC3042 shows promising preclinical results, indicating potential for broad applicability across various cancer types [15][18] - Evidence of tumor regression in preclinical models, supporting the mechanism of action [19][20] Market Potential - BDC4182 aims to capture a broader market by targeting not only high expressers of claudin 18.2 but also moderate and low expressers [44][81] - The approved drug for claudin 18.2 currently addresses about **38%** of the gastric cancer market [81] Collaboration and Partnerships - Ongoing discussions for partnerships to accelerate the development of BDC3042, with a goal to secure a non-binding term sheet by June 6 [39] - Collaboration with Genmab and Toray to advance multiple development programs [52][53] Future Outlook - Anticipated updates on patient recruitment for BDC4182 and partner selection for BDC3042 by fall [54] - Emphasis on efficiency in the current biotech financing environment to develop product candidates that could improve patient outcomes [54] Additional Insights - The conference highlighted the importance of safety and tolerability in early-phase trials, especially for heavily pretreated patients [28][37] - The potential for BDC3042 to be effective in combination with other therapies, particularly in immunogenic tumors like NSCLC [60][61] - The company is focused on differentiating its ISAC platform from competitors by improving linker payloads and reducing immunogenicity [95][96] This summary encapsulates the critical aspects of the conference call, providing insights into Bolt Biotherapeutics' current status, clinical programs, and future directions in the oncology space.

Archer Aviation (ACHR) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Eric Lentell - General Counsel & SecretaryAdam Goldstein - Founder, CEO, Chairman & DirectorTom Muniz - CTOPriya Gupta - Interim CFOBill Peterson - Equity ResearchSavanthi Syth - MD - Airlines & Advance Air MobilityAustin Moeller - Director - Equity Research Conference Call Participants Andres Sheppard - AnalystEdison Yu - AnalystJosh Sullivan - MD & Senior Equity Research AnalystDavid Zazula - AnalystChris Pierce - S ...