Quest Resource (QRHC) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Dave Mossberg - Founder & CEODaniel Friedberg - ChairmanBrett Johnston - Chief Financial OfficerPerry Moss - President & CEONelson Obus - Co-Founder & CIOGreg Kitt - General Partner - InvestmentsGeorge Melas-Kyriazi - President Conference Call Participants Aaron Spychalla - Research AnalystGerry Sweeney - Managing Director, Senior Research AnalystOwen Rickert - Senior Research Analyst Operator Good day, everyone, and w ...

Hallador Energy Company (HNRG) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Sean Mansouri - Founder & CEOBrent Bilsland - President, CEO & ChairmanMarjorie Hargrave - Chief Financial Officer Conference Call Participants Nick Giles - Senior Research Analyst Operator Good afternoon. Thank you for attending Hallador Energy's First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. Later, we will conduct a question and answer ses ...

Financial Data and Key Metrics Changes - Revenues in Q1 2025 were $1,500,000, down from $3,100,000 in Q1 2024, indicating a significant decline [12] - Gross margins decreased to 30% in Q1 2025 from 49% in Q1 2024, primarily due to lower margin revenues from a contract with the UK's NQCC [12] - Total operating expenses (OpEx) increased to $22,100,000 in Q1 2025 from $18,100,000 in the same period last year, driven by salary increases, new hires, and higher stock compensation expenses [13] - The operating loss for Q1 2025 was $21,600,000, compared to $16,600,000 in the prior year [13] - The company recorded a net income of $42,600,000 in Q1 2025, a turnaround from a net loss of $20,800,000 in Q1 2024, largely due to favorable non-cash changes in derivative warrant and earn-out liabilities [14] Business Line Data and Key Metrics Changes - The company is focusing on advancing its utility scale quantum computer concept, collaborating with Riverlane on quantum error correction technology [4][5] - The consortium for the AFOSR award aims to develop chip fabrication technology, with a total award of $5,480,000 [5] Market Data and Key Metrics Changes - The company is actively participating in DARPA's quantum benchmarking initiative, which is critical for advancing utility scale quantum computing [4][28] - The interest in quantum computing remains primarily in R&D, with significant government contracts driving current sales [38][41] Company Strategy and Development Direction - The company is pursuing a chiplet approach to scale qubit counts, aiming for 36 qubits by mid-2025 and over 100 qubits by the end of 2025 [16][18] - The strategy includes enhancing quantum error correction capabilities and integrating digital chip-based technology with existing systems [8][9] - The partnership with Quanta Computer is strategic, focusing on non-GPU hardware components, which will allow the company to concentrate on QPU development [91][94] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the NQI reauthorization bill, which is expected to pass with bipartisan support, although funding may take additional time to materialize [21][48] - The company anticipates that achieving quantum advantage will take at least three to five years, with current efforts focused on R&D and technology milestones [38][42] Other Important Information - The company has closed a $35,000,000 investment from Quanta Computer, which strengthens their strategic collaboration [10][90] - The company is exploring optical signaling as a future technology to improve scalability and reduce thermal load in quantum systems [78][81] Q&A Session Summary Question: Progress on chip tiling and timelines - Management confirmed confidence in the chiplet approach to achieve 36 qubits by mid-2025 and over 100 by the end of 2025, with promising data supporting this strategy [16][17] Question: Updates on the DARPA contract - The DARPA Quantum Benchmarking Initiative is crucial for utility scale quantum computing, with specific milestones related to qubit count and fidelity required to progress to the next phase [26][28] Question: Revenue from DARPA phases - Phase A of the DARPA project includes a $1,000,000 award, with expectations for increased funding in subsequent phases [34] Question: Customer interest in quantum processors - Current interest remains in R&D, with significant government funding impacting the conversion of interest into orders [40][41] Question: Optical signaling and its roadmap - Optical signaling is a key element for future scalability, with expectations to transition from coax to fiber optic cables in the next three to four years [78][81] Question: NQCC revenue recognition timeframe - Revenue from the NQCC opportunity is expected to be recognized over the next year, with a similar timeline for the Air Force contract [84]

Financial Data and Key Metrics Changes - First quarter revenue was $134 million, at the high end of guidance of $125 million, driven by stronger sell-through [13] - Non-GAAP operating expenses decreased by 26% year over year to $62 million from $83 million [14][18] - GAAP and non-GAAP loss per share were $0.30 and $0.12 respectively, with adjusted EBITDA loss reduced by nearly 50% year over year to negative $16 million [16][19] - Inventory at the end of the quarter was $96 million, a 27% decrease year over year [16] Business Line Data and Key Metrics Changes - Revenue from the retail channel was $94 million, accounting for 70% of Q1 2025 revenue, up from 68% in Q1 2024 [14] - Revenue from the GoPro.com channel, including subscription and service revenue, was $40 million, representing 30% of Q1 2025 revenue, down from 32% in Q1 2024 [14] - Subscription and service revenue grew 4% year over year to $27 million, primarily due to a 5% increase in ARPU [15] Market Data and Key Metrics Changes - Sell-through was approximately 440,000 units, down from 530,000 units in the prior year period, primarily due to decreases in Asia Pacific driven by macroeconomic issues and competition [17] - In the United States, sell-through was down 10% year over year, while sell-in was up 7% year over year [28] Company Strategy and Development Direction - The company plans to continue making strategic investments in product innovation to return to growth and diversify its supply chain, including exploring domestic production [6][10] - GoPro is focused on launching new products while preserving cash to repay debt and drive growth in 2025 and 2026 [24][23] - The company aims to introduce the Max 2 360 camera in 2025 and expects to end 2025 with 2.4 million subscribers [22][23] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating model is becoming leaner and more efficient, positively impacting financial results [11] - The company expects revenue for Q2 2025 to be $145 million, down 22% year over year, with unit sell-through expected to decrease by 20% [21] - Management highlighted that the macro environment, competition, and delays in new product launches are expected to impact units and revenue in 2025 [22] Other Important Information - The company reported a strong aggregate retention rate for subscriptions at 70%, up from 69% both sequentially and year over year [8] - GoPro is actively managing its balance sheet and expects to reduce inventory sequentially by $20 million [20] Q&A Session Summary Question: Can you help us understand the sources of stronger sell-through in the quarter? - Management indicated that there was no pull-forward demand; sales were linear throughout the quarter [27] Question: What happened with the sell-through in the U.S. and Asia? - Management noted that Asia was down 54% due to macroeconomic issues and competition, particularly in China, Japan, and South Korea [30] Question: Can you elaborate on the tariff situation? - Management confirmed that the tariff impact on cameras entering the U.S. is zero due to diversified production outside of China [35] Question: What are the dynamics in Asia currently? - Management highlighted that competition and macroeconomic issues are affecting sales in Asia, with a nationalistic trend to buy local impacting performance [39]

DaVita (DVA) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Nic Eliason - Group Vice President of Investor RelationsJavier J. Rodriguez - CEOJoel Ackerman - CFO & TreasurerAndrew Mok - DirectorDean Rosales - Equity Research AssociateA.J. Rice - Managing Director Conference Call Participants Christian Malachy Porter - Equity Research Analyst - SMID BioTechPito Chickering - AnalystRyan Langston - Director & Senior Analyst - Healthcare Research Operator evening. My name is Michelle, and I ...

Maravai LifeSciences (MRVI) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Deb Hart - Head of Investor RelationsTrey Martin - CEOKevin Herde - Executive VP & CFODan Arias - Managing DirectorBecky Buzzeo - Executive VP & Chief Commercial OfficerBrandon Couillard - Managing Director Conference Call Participants Conor McNamara - Equity Research AnalystDan Leonard - Managing Director & Research AnalystTejas Savant - Executive Director & Senior Healthcare Equity AnalystMatthew Stanton - Anal ...

Clipper Realty (CLPR) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Lawrence Sava - Corporate ControllerDavid Bistricer - Co-Chairman & CEOJJ Bistricer - Chief Operating OfficerLawrence Kreider - CFOBuck Horne - Managing Director Operator Good afternoon, and welcome to today's Clipper Realty Q1 Earnings Call. At this time, all participants have been placed on a listen only mode, and we will open the floor for your questions and comments after the presentation. It is now my pleasure to ...

Runway Growth Finance (RWAY) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Quinlan Abel - Assistant Vice President of Investor RelationsDavid Spreng - CEOGreg Greifeld - Chief Investment OfficerThomas Raterman - CFO & COOErik Zwick - Managing Director, Equity ResearchMickey Schleien - MD - Equity ResearchMelissa Wedel - Vice President, U.S. Equities Research Conference Call Participants Doug Harter - Equity Research Analyst Operator Ladies and gentlemen, thank you for standing by and w ...

Magnachip Semiconductor (MX) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Steven Pelayo - Managing DirectorYoung-Joon Kim - CEO, Director & Member of the Risk CommitteeShin Young Park - CFO & Chief Accounting OfficerNick Doyle - Vice President Conference Call Participants Suji Desilva - MD & Senior Research Analyst Operator everyone, and thank you for standing by. Welcome to the MagnaChip Semiconductor First Quarter twenty twenty five Earnings Conference Call. At this time, all partic ...

Topgolf Callaway Brands (MODG) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Katina Metzidakis - Vice President of Investor Relations & Corporate CommunicationsChip Brewer - President and CEOArtie Starrs - CEOBrian Lynch - Executive VP, Chief Legal Officer & CFOMichael Swartz - Director - Equity ResearchMegan Clark - Independent Non-Executive DirectorJohn-Paul Wollam - Equity Research AssociateJoe Altobello - Managing Director Conference Call Participants Matt Boss - Equity Research An ...