Financial Data and Key Metrics Changes - As of March 31, 2025, the company had $2.9 million in cash and cash equivalents, focusing on securing near-term financing to strengthen its financial condition and advance the OVATION III trial [21] - Research and development costs were $2.2 million for Q1 2025, down from $3.3 million in the same period in 2024, primarily due to lower costs associated with the Phase I proof of concept Plascene DNA vaccine trial [22] - General and administrative expenses increased to $2 million in Q1 2025 from $1.7 million in Q1 2024, mainly due to higher employee-related expenses [22] - The net loss for Q1 2025 was $4.1 million or $0.28 per share, compared to a net loss of $4.9 million or $0.52 per share for the same period in 2024 [23] Business Line Data and Key Metrics Changes - The company is advancing its Phase III pivotal study of IMMUN-one for treating advanced ovarian cancer, with the first clinical site initiated [5][6] - The OVATION III trial will assess the efficacy of IMMUN-one plus standard care versus standard care alone, with a focus on overall survival as the primary endpoint [8][9] Market Data and Key Metrics Changes - The Phase III trial will enroll women newly diagnosed with advanced ovarian cancer, with a subgroup of patients positive for homologous recombination deficiency (HRD) [7] - The study aims to provide a new frontline treatment option for women with limited options and unmet medical needs, which is recognized by the medical community [6] Company Strategy and Development Direction - The company is focused on securing financing to support the OVATION III trial and is exploring partnerships to enhance its cash runway [19][20] - The strategy includes leveraging data from the Placine vaccine technology for potential licensing opportunities and partnerships in oncology and vaccine development [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of IMMUN-one to reset the standard of care for advanced ovarian cancer if safety and efficacy are confirmed in the Phase III trial [10][12] - The company is excited about presenting data at major conferences, which underscores the critical need for new therapies in ovarian cancer [13][15] Other Important Information - The company has orphan drug designation in both the U.S. and Europe, which may facilitate regulatory approval processes [9] - The OVATION II study results will be presented at the ASCO Annual Meeting and published in a peer-reviewed journal, highlighting the strength of the company's data [13] Q&A Session Summary Question: Inquiry about ASCO presentation and new data analyses - Management indicated that due to ASCO's embargo, specific details about the presentation content cannot be disclosed, but new information will be shared [25] Question: Status of Phase III trial sites and statistical plans - The company projects about 45 sites for the Phase III trial, with overall survival as the primary endpoint for all populations [30][31] Question: Current status of inventory and manufacturing capabilities for OVATION III - The company has brought the manufacturing of core active pharmaceutical ingredients in-house and is prepared for upcoming enrollment plans [33] Question: Status of clinical trial in collaboration with the Breakthrough Cancer Foundation - The company expects to have preliminary results from this trial by the end of the year, with ongoing site activations [34]

Financial Data and Key Metrics Changes - Q1 adjusted EBITDA was $13.1 million, resulting in an adjusted EBITDA margin of 21%, up from 20% in 2024 [6][16] - Free cash flow for Q1 was $7.9 million, which was higher than expected [7] - The company anticipates adjusted EBITDA margins to increase to 26% in Q2 and further expand in the second half of 2025 [6][20] Business Line Data and Key Metrics Changes - The core organic growth rate in Q1 was flat, but is expected to improve to 2% in Q2, with further increases anticipated throughout 2025 [6][12] - The company welcomed 107 new customers in Q1, including 19 major customers, and expanded relationships with 245 existing customers [7][8] Market Data and Key Metrics Changes - The divestiture of mobile messaging product lines lowered the 2025 revenue guidance midpoint by $25 million but did not impact adjusted EBITDA guidance [12][18] - The net dollar retention rate for the core business as of December 31, 2024, would have been 99% excluding divestitures, compared to the reported 96% [12] Company Strategy and Development Direction - The company is focusing on markets with the strongest competitive advantage, higher margins, and higher growth rates [27] - The divestitures are part of a strategy to streamline operations and enhance focus on core products [29] - The company has realigned sales with general managers of product groups, eliminating the need for centralized sales management [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about positive growth momentum, projecting a core organic growth rate of 2% in Q2 and further increases in the second half of 2025 [6][12] - The company has seen improvements in digital marketing capabilities, contributing to increased marketing-sourced bookings [35] - Management noted strong visibility in revenue, with 93% being recurring and an average customer lifetime of nearly nine years [45] Other Important Information - The company paid down $34.2 million of debt in Q1 2025, with total paydowns in 2025 reaching approximately $34.2 million, in addition to $189 million in 2024 [14][17] - The full year 2025 adjusted EBITDA is expected to be between $55 million and $64 million, representing a 7% increase from 2024 [19][20] Q&A Session Summary Question: How should the market view the go-to-market strategy following the termination of the Chief Sales Officer? - Management highlighted progress in the go-to-market strategy, focusing on competitive advantages and higher growth rates, with a positive core organic growth rate expected [27] Question: Should additional divestitures be expected as the company streamlines towards growth? - Management indicated that substantial repositioning has been completed, and no material additional divestitures are anticipated at this time [29] Question: What is driving the faster organic growth and improving margins? - Management attributed the improvements primarily to focusing on high-margin, high-growth products and enhancing digital marketing capabilities [35] Question: When was the full build-out of the India development center completed, and when will benefits be seen? - The full build-out was completed at the end of the previous year, with increased productivity expected from ongoing R&D investments [42] Question: What is the outlook for free cash flow and any one-time costs related to divestitures? - Management confirmed a revised free cash flow outlook of $20 million, excluding one-time divestiture-related expenses [43] Question: What is the visibility into top-line acceleration and pipeline metrics? - Management reported strong visibility with a high net dollar retention rate and an average contract term of two years, indicating confidence in exceeding the 2% growth target [45]

RadNet (RDNT) Q1 2025 Earnings Call May 12, 2025 10:30 AM ET Company Participants Mark Stolper - EVP & CFOHoward Berger - Chairman, President & CEOGrayson McAlister - Equity Research AssociateAndrew Mak - Vice PresidentBrandon Carney - Senior Research Associate Conference Call Participants Brian Tanquilut - Equity Research Analyst - Healthcare ServicesLarry Solow - Partner & Managing director - Equity Analyst Operator Good day, and welcome to the RadNet, Inc. First Quarter twenty twenty five Financial Resul ...

Financial Data and Key Metrics Changes - For Q1 2025, RadNet reported total revenue of $471.4 million, an increase of $39.7 million or 9.2% compared to Q1 2024. Adjusted EBITDA was $46.4 million, a decrease of $12.1 million or 20.6% year-over-year [21][22] - Adjusting for the estimated $22 million impact from severe weather and wildfires, revenue would have increased by 14.3% year-over-year. Adjusted EBITDA, accounting for a $15 million impact, would have increased by 5% [22] - The company ended Q1 2025 with a cash balance of $717 million and a net debt to adjusted EBITDA ratio of slightly more than one [17][24] Business Line Data and Key Metrics Changes - The Digital Health segment reported revenue of $19.2 million, a 31.1% increase year-over-year, with adjusted EBITDA of $3.7 million, up 5.4% [22][23] - AI revenue within Digital Health grew by 33.3%, driven by improved adoption of the EBCD program [23] - PET CT volumes increased by 22.9%, attributed to the growth of newer prostate and brain procedures [8] Market Data and Key Metrics Changes - The company experienced a gradual shift towards advanced imaging, with 26.9% of procedural volume coming from advanced imaging in Q1 2025, compared to 25.7% in Q1 2024 [7] - The adoption rate of the EBCD program reached over 40% nationally, indicating strong market acceptance [12] Company Strategy and Development Direction - RadNet is focused on expanding its digital health initiatives, including the TechLive remote technologist solution and the EBCD AI-powered breast cancer screening program [10][12] - The company announced the acquisition of iCAD Inc, aiming to enhance its AI-powered breast health solutions and expand its market presence [14][15] - RadNet plans to open 11 new centers by the end of 2025 and has a robust pipeline for joint ventures and acquisitions [16][18] Management's Comments on Operating Environment and Future Outlook - Management noted that the severe weather conditions in early 2025 negatively impacted performance but expressed confidence in recovery and strong growth trends in subsequent months [6][9] - The company anticipates continued growth in advanced imaging and routine imaging, driven by technological advancements and increased demand [41][43] - Management expects to see improved margins due to the growth of advanced imaging and the implementation of AI tools [75] Other Important Information - The company has an active pipeline of acquisitions and is evaluating opportunities to advance its strategic objectives [18] - RadNet's liquidity position remains strong, with full availability of a $282 million revolving credit facility [23] Q&A Session Summary Question: What is the outlook for growth in advanced imaging over the next few years? - Management expects growth in advanced imaging to continue, driven by AI tools and new equipment investments [39][41] Question: Can you provide insights on the M&A pipeline? - The pipeline is robust, with ongoing discussions with hospitals recognizing the value of RadNet's radiology solutions [44][46] Question: What are the trends in technologist hiring? - There are improvements in hiring trends, and the company remains comfortable with the projected $45 million increase in labor costs [52][58] Question: How did revenue perform against internal expectations? - Revenue was strong and aligned with internal guidance, with a bounce back in March after weather-related impacts [66][67] Question: What is driving the expected increase in EBITDA margins? - Growth in advanced imaging and the implementation of AI programs are primary drivers for improved margins [75] Question: What is the status of stock-based compensation? - The increase in stock-based compensation is due to vesting from past years and new hires, but it is expected to decrease in subsequent quarters [76]

UroGen Pharma (URGN) Q1 2025 Earnings Call May 12, 2025 10:00 AM ET Company Participants Vincent Perrone - Senior Director of Investor RelationsLiz Barrett - President & CEOMark Schoenberg - Chief Medical OfficerDavid Lin - Chief Commercial OfficerChris Degnan - CFOKelsey Goodwin - Vice PresidentGeorge Farmer - Managing Director Conference Call Participants Tara Bancroft - Director, Senior Analyst, Biotech Equity ResearchLeland Gershell - MD & Senior Biotechnology AnalystRaghuram Selvaraju - Managing Direct ...

Centuri Holding (CTRI) Q1 2025 Earnings Call May 12, 2025 10:00 AM ET Company Participants Jason Wilcock - Executive VP, Chief Legal & Administrative OfficerChristian Brown - President & CEOGreg Izenstark - Executive VP & CFODrew Chamberlain - Equity Research AssociateJustin Hauke - Vice President and Senior Research Associate Conference Call Participants Steven Fisher - Managing Director & Equity Research AnalystSangita Jain - Senior AnalystSherif El-Sabbahy - Analyst Operator Greetings, and welcome to Cen ...

Lincoln Educational Services (LINC) Q1 2025 Earnings Call May 12, 2025 10:00 AM ET Company Participants Michael Polyviou - Managing MemberScott Shaw - Chief Executive Officer and PresidentBrian Meyers - Executive VP, CFO & TreasurerAlex Paris - PresidentRaj Sharma - Managing Director Conference Call Participants Eric Martinuzzi - Senior Research AnalystSteven Frankel - Managing Director, Senior Research AnalystLuke Horton - VP - Senior Equity Research AnalystGriffin Boss - Equity Research Analyst Operator G ...

Financial Data and Key Metrics Changes - Revenues for Q1 were $130.4 million, with EBITDAR at $20.2 million, maintaining operating margins consistent with Q1 of the previous year despite challenges [4][5] - The impact of weather, leap year, and reduced sports betting revenue in Colorado was estimated to be around $2 million compared to Q1 last year [5] - Carded gaming revenue increased by 1%, while uncarded gaming revenue decreased by 2.5% across all U.S. properties [5] Business Line Data and Key Metrics Changes - In Missouri, the new Carratus property saw carded gaming revenue grow by 12% and uncarded revenue increase by 23%, leading to a total gaming revenue increase of 17% or $2.1 million compared to Q1 last year [6][7] - The Century Casino and Hotel in Cape Girardeau experienced a 5% increase in patrons and a 2% increase in trips, although gaming win was flat due to lower hold [12] - In Colorado, carded revenue grew by 7% in Central City, while uncarded revenue decreased by 36% [13][14] Market Data and Key Metrics Changes - Total visitor volume decreased by 3%, with a notable reduction in visits from the 50 age group, partially offset by a 1% increase from younger guests [6] - The number of patrons living more than 75 miles from the Carratus property increased by 34%, contributing to a 23% increase in total visitors [9] - In the East segment, high-end customers outperformed low to mid-tier customers, with gaming revenue from the upper segment increasing by 10% [16] Company Strategy and Development Direction - The company is focusing on expanding its market presence, particularly in Missouri, with plans for sports betting to go live towards the end of the year [13] - There is a commitment to operational discipline and efficiency improvements, with expectations for higher EBITDA and cash flow moving forward [24] - The company plans to balance a conservative CapEx program with returning capital to shareholders, including stock buybacks [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving consumer behavior and spending patterns since mid-March, with April showing an estimated 5% increase in EBITDA compared to last year [25][26] - Despite economic uncertainties, management is more confident in the long-term prospects of the company than in the previous year [26] - The company does not anticipate significant competitive supply impacting its operations this year or next [27] Other Important Information - The company's cash and cash equivalents at the end of the quarter were $85 million, with a total principal amount of debt outstanding at €340 million [23] - The company expects to spend $4 million on growth projects and $14 million on maintenance CapEx this year [24] - The company is in discussions regarding the potential sale of its Polish operations, with two interested parties emerging [22] Q&A Session Summary Question: Have you noticed any softening in consumer behavior for your Canadian assets? - Management indicated that lower revenue is not significant and attributed it to weather and one less gaming day, expressing no concerns [33] Question: Can you provide an update on initiatives at Rocky Gap? - Management mentioned completed renovations and marketing initiatives targeting the Baltimore and Washington DC areas to attract higher net worth guests [36] Question: What has changed regarding year-end leverage targets? - Management noted a positive trend since mid-March but remained cautious about projecting this trend for the full year [44] Question: Are you looking to monetize your casino database in Alberta? - Management mentioned potential partnerships with the Alberta Gaming Commission for database sharing but did not see other opportunities at this time [48] Question: What is the strategy for revenue growth in Missouri? - Management confirmed a proactive approach to push revenue up while maintaining cost discipline, particularly targeting the 75+ mile customer base [55] Question: What is the timeline for the sale of Polish assets? - Management believes the sale could happen in 2025 but acknowledged previous misestimations regarding the timeline [57] Question: What is the capacity for stock buybacks? - Management indicated plans to start stock buybacks with a single-digit million dollar volume between now and the next earnings release [59]

Centuri Holding (CTRI) Q1 2025 Earnings Call May 12, 2025 10:00 AM ET Company Participants Jason Wilcock - Executive VP, Chief Legal & Administrative OfficerChristian Brown - President & CEOGreg Izenstark - Executive VP & CFODrew Chamberlain - Equity Research AssociateJustin Hauke - Vice President and Senior Research Associate Conference Call Participants Steven Fisher - Managing Director & Equity Research AnalystSangita Jain - Senior AnalystSherif El-Sabbahy - Analyst Operator Greetings, and welcome to Cen ...

Financial Data and Key Metrics Changes - In Q1 2025, consolidated revenues totaled $550.1 million, a 4.2% increase from Q1 2024 [20] - Consolidated gross profit was $20.3 million, reflecting a 53.1% increase year-over-year, with a gross profit margin of 3.7% compared to 2.5% in Q1 2024 [20] - The net loss attributable to common stock improved to $17.9 million, or a diluted loss per share of $0.20, from a net loss of $25.1 million, or $0.35 per share, in the same period last year [21] - Adjusted EBITDA was $24.2 million, approximately 20% higher than the prior year, with an adjusted EBITDA margin of 4.4%, up from 3.8% [21] Business Line Data and Key Metrics Changes - The U.S. Gas segment revenue totaled $197.7 million, a year-over-year decrease of 12.7%, with a gross profit margin declining to -7.5% from -1.8% due to weather disruptions [22][23] - The Canadian Gas segment revenue was $39.8 million, down 2.9% year-over-year, but the segment margin improved to 17.8% from 7.5% [24] - Union Electric segment revenue increased by 7.1% to $175.5 million, with core Union Electric growth of 32.7% driven by increased bid project activity [25] - Nonunion Electric segment revenue rose by 41.9% to $137.1 million, with gross profit increasing to 11.9% from 2.9% due to higher crew counts and work hours [26] Market Data and Key Metrics Changes - The U.S. Gas segment faced adverse weather conditions impacting performance, but March showed significant improvement [18] - The nonunion electrical segment benefited from strong market trends in the Sunbelt and Southeast, driven by storm damage recovery efforts [19] Company Strategy and Development Direction - The company is focused on implementing a unified business development strategy aimed at high growth pipeline development and securing new awards [10][12] - There is an emphasis on enhancing capital efficiency and improving free cash flow through better management of capital equipment and working capital [28] - The company aims to grow its customer base and expand market presence, leveraging its scale and capabilities in utility services [9][10] Management's Comments on Operating Environment and Future Outlook - Management does not anticipate significant impacts from the global trade war or tariffs in 2025, citing a resilient business model [7][29] - The outlook for full-year 2025 remains unchanged, with expectations to deliver revenues between $2.6 billion and $2.8 billion [28][29] - Management expressed confidence in achieving a book-to-bill ratio exceeding 1.1 times for the year, supported by a strong sales pipeline [13][29] Other Important Information - The company reported a record booking quarter with new bookings totaling $1.2 billion in Q1 2025, significantly up from $221 million in Q4 2024 [13] - The backlog increased to $4.5 billion as of Q1 2025 from $3.7 billion at the end of 2024 [13] Q&A Session Summary Question: How will the company achieve the upper end of revenue guidance despite a weaker Q1 in U.S. Gas? - Management noted that the gas business experienced a slow start due to weather but recovered in March and April, with work under contract supporting the guidance [34][35] Question: What were the key findings from the strategic review? - The review highlighted the need for a fully integrated sales pipeline, improved cross-selling capabilities, cultural shifts towards growth, and alignment of KPIs with profitability goals [37][40] Question: How does the U.S. Gas segment's loss compare to expectations? - Management acknowledged that Q1 is typically slow for the gas segment due to weather, but they are working to mitigate impacts by expanding operations in warmer regions [44][45] Question: What is the expected cadence for bookings throughout the year? - Management anticipates some lumpiness in bookings, with Q2 and Q4 expected to be strong, while Q3 may be quieter [50][51] Question: Can you provide details on the new MSAs and their risk profile? - The new work involves familiar services and customers, maintaining the same risk profile as previous contracts [59][60] Question: What is the outlook for EBITDA margins? - Management expects to achieve full-year guidance without needing significant changes, as the business is on track to meet budget expectations [66][67]