Sohu.com Limited (NASDAQ:SOHU) Q4 2024 Earnings Conference Call February 18, 2025 4:30 AM ET Company Participants Huang Pu - Investor Relations Director Dr. Charles Zhang - Chairman and CEO Joanna Lv - Chief Financial Officer James Deng - Vice President, Finance Dewen Chen - Chief Executive Officer, Changyou Yaobin Wang - Chief Financial Officer, Changyou Conference Call Participants Thomas Chong - Jefferies Alicia Yap - Citi Operator Ladies and gentlemen, thank you for standing by, and good afternoon. Than ...

Palatin Technologies, Inc. (NYSE:PTN) Q2 2025 Earnings Conference Call February 13, 2024 11:00 AM ET Company Participants Carl Spana - CEO and President Stephen Wills - CFO, COO, Treasurer and Secretary Conference Call Participants Joe Pantginis - H. C. Wainwright Operator Greetings. Welcome to Palatin Technologies, Inc.'s Second Quarter Fiscal Year 2025 Operating Results Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentat ...

Financial Data and Key Metrics Changes - For Q2 2025, revenue was $4.5 million, down from $4.8 million in Q2 2024, slightly below the expected $5 million [38] - Manufacturing revenue increased by 42% from Q1 to Q2, marking the largest quarter-over-quarter production increase in many years [11][38] - Gross margins were 24% compared to 30% in the same quarter last year, impacted by lower sales volume and increased R&D spending [39] Business Line Data and Key Metrics Changes - The single-use cystoscope program and defense aerospace program have been ramping production, contributing significantly to revenue growth [11][26] - Production revenue in Q2 was up substantially over Q1, with expectations for record levels in Q3 and Q4 driven by these programs [26][31] Market Data and Key Metrics Changes - The single-use endoscope market is expected to grow at annual rates of up to 20%, with POC well-positioned to benefit from this trend [14] - The company has seen its Ross Optical components business stabilize at approximately $1 million per quarter, with expectations for recovery by the end of fiscal 2025 [32] Company Strategy and Development Direction - The launch of the Unity imaging platform is expected to enhance POC's competitive position by accelerating time to market and reducing development risks [21][24] - POC aims to double its product development pipeline size, requiring an increase in the engineering team to support anticipated growth [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth in the second half of fiscal 2025, driven by strong backlogs and a return to normalized engineering operations [12][33] - The company is addressing capacity limitations to meet demand from existing customers, which is seen as a positive indicator for future growth [34][81] Other Important Information - The company is in the process of expanding its cleanroom space and workforce to meet production demands, with significant increases in capacity expected by the end of March [85][87] - Cash balance as of December 31, 2024, was approximately $200,000, with an additional $350,000 available on the line of credit [43] Q&A Session Summary Question: Update on defense contracts with specification problems - Management confirmed two significant defense aerospace programs are in production, with one running steadily at $2 million to $2.5 million annually, and the other expected to reach a $3 million to $4 million run rate by the end of the fiscal year [55][59] Question: Details on the Unity platform - The Unity platform allows for baseline designs tailored to customer specifications, significantly accelerating the time to market by reducing development cycles [60][66] Question: Reasons for lower than expected revenue in Q2 - Management cited delays in product development due to the focus on launching the Unity platform and customer-related delays in regulatory approvals and financing [72][76] Question: Plans to increase capacity - The company is expanding cleanroom capacity and increasing workforce by approximately 80% to meet the substantial backlog in production [84][87]

Financial Data and Key Metrics Changes - The company announced a formal review to evaluate strategic alternatives due to shares trading at a discount to the estimated private market value [7][9] - Same-store blended lease rate growth averaged 1.3% in Q4 2024 and 1.8% in January 2025 [18] - Same-store occupancy averaged 95% during Q4 2024, up 20 basis points sequentially [19] Business Line Data and Key Metrics Changes - The company completed about 500 full renovations in 2024 at an average cost of $17,000 per unit, achieving an average renovation ROI of approximately 17% [20] - In 2025, the company expects to complete another 500 full renovations at similar costs, targeting a 17% ROI [20][21] Market Data and Key Metrics Changes - The Washington Metro area was a top-performing market in 2024, with solid demand trends and low net inventory ratios [14] - Elme submarkets are projected to face less supply pressure than the U.S. and Sunbelt markets, with average annual net inventory growth of 2.2% [16] Company Strategy and Development Direction - The company is focused on maximizing shareholder value through strategic reviews and operational initiatives [6][9] - The company aims to capture additional NOI growth from managed Wi-Fi initiatives, expecting $300,000 to $600,000 in 2025 from Phase 1 [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth prospects of the Washington Metro portfolio, citing a highly skilled workforce and advanced technology infrastructure [15] - The company anticipates same-store multifamily revenue growth to range from 2.1% to 3.6% in 2025 [23] Other Important Information - The company has no debt maturing before 2028 and maintains a strong balance sheet with an annualized adjusted net debt to EBITDA of 5.7 times [27] - Non-controllable expenses are projected to grow by 2% to 3%, while controllable expenses are expected to grow between 4% and 5% [25] Q&A Session Summary Question: Impact of new administration on leasing or rents - Management noted that past government changes had significant impacts, but current growth is driven by the private sector, particularly in Northern Virginia [35][37] Question: Market cap rates for typical assets - Management indicated that core deals are seeing cap rates between 4.5% to 5%, with value-add deals around 5% to 5.5% [42][43] Question: Seasonal growth outlook - Management expects normal seasonal growth in the Washington D.C. area, with peak leasing during spring and summer [53] Question: Update on Watergate leasing prospects - Management is optimistic about leasing activity at Watergate and is in discussions with tenants for renewals [61][63] Question: Indicators of leasing decisions amid uncertainty - Management reported normal seasonal leasing trends without atypical impacts on traffic or leasing metrics [79] Question: Sequential growth rate in Atlanta - Management confirmed that half of the sequential growth in Atlanta was due to bad debt improvement, with the other half from business interruption insurance proceeds [82]

Financial Data and Key Metrics Changes - Revenues increased by 18.8% to $888.3 million, reflecting strong performance across all business lines despite challenging comparisons [16] - Adjusted EPS rose by 19.6% to $0.55, indicating solid earnings growth [20] - Adjusted EBITDA was $182.9 million, up 10.1%, with a margin improvement of approximately 55 basis points to 16.2% for the full year [21][24] Business Line Data and Key Metrics Changes - Management services, servicing, and other revenues grew by 21.1%, marking the sixth consecutive period of year-on-year improvement [17] - Leasing revenues increased by 15.1%, driven by strong growth in office transactions [17] - Capital markets revenues grew by 20%, with total capital markets volumes increasing by 113.2% when excluding the Signature transactions [18][10] Market Data and Key Metrics Changes - U.S. debt market share increased by approximately 300 basis points to 9%, significantly up from 1.5% in 2015 [10] - The company anticipates industry capital markets volumes to see double-digit gains due to stabilization of interest rates and significant U.S. debt maturities [11] Company Strategy and Development Direction - The company is focused on expanding its market share and enhancing its brand as a key adviser for complex transactions [12] - Newmark aims to achieve at least $630 million in adjusted EBITDA by 2026, with a target of $1.75 in adjusted EPS by 2026, representing over 40% earnings growth [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong revenue and earnings growth for 2025, despite potential market headwinds [12][49] - The company is optimistic about the industrial sector, driven by reshoring and investment in advanced manufacturing [51][52] Other Important Information - The company ended the year with $197.7 million in cash and cash equivalents and a net leverage of 1.1 times [23] - Newmark repurchased 18.6 million shares for $224.9 million at an average price of $12.09 [22] Q&A Session Summary Question: Impact of Howard's departure on G&A and D&O premiums - Management confirmed that Howard's departure is reflected in guidance, including any premium increases in D&O [30] Question: Data centers growth and challenges - Management highlighted significant business in data centers, driven by reshoring and AI investments, while acknowledging long-term power issues [33] Question: Low forgivable loan spend in Q4 - Management explained that the low spend in Q4 is a point in time, with over $200 million spent for the year, and expects continued investment in growth [40] Question: Leadership turnover at FHFA and multifamily activity - Management noted that any changes in Fannie and Freddie's ownership structure would not significantly impact their outlook for multifamily activity [43] Question: Capital markets activity and guidance for 2025 - Management indicated strong pipelines across all businesses, expecting double-digit growth in capital markets despite market headwinds [49] Question: Debt deals from banks and market trends - Management anticipates a gradual trickle of CRE loans from banks over the next five years, with a shift towards private capital [59] Question: Profitability of international expansion - Management expressed confidence that profit margins internationally could be equal to or better than those in the U.S. [72]

GEE Group Inc. (NYSE:JOB) Q1 2025 Earnings Call Transcript February 14, 2025 11:00 AM ET Company Participants Derek Dewan - Chief Executive Officer and Chairman of the Board Kim Thorpe - Senior Vice President and Chief Financial Officer Conference Call Participants Derek Dewan Hello and welcome to the GEE Group Fiscal 2025 First Quarter ended December 31, 2024 Earnings and Update Webcast Conference Call. I’m Derek Dewan, Chairman and Chief Executive Officer of GEE Group. I will be hosting today’s call. Join ...

Financial Data and Key Metrics Changes - Full year 2024 revenue was approximately $402 million, with a non-GAAP gross margin of 45% [8][21] - Q4 revenue was $94.1 million, within guidance, but gross margin was impacted by a $2.1 million inventory reserve charge, resulting in a gross margin of 41.8% [9][21] - Operating expenses for Q4 were lower than guidance at $45.3 million, leading to a non-GAAP operating loss of approximately $6 million [22] Business Line Data and Key Metrics Changes - Recurring revenue represented 62% of total revenue in Q4 and 65% for the full year 2024, indicating a stable revenue stream [20] - Systems revenue increased sequentially in computing, industrial, and consumer segments, but declined in automotive and mobile due to inventory corrections [10] - The company entered the memory and silicon carbide power semiconductor markets, expecting to generate $7 million in revenue from HBM inspection systems in 2025 [11][12] Market Data and Key Metrics Changes - Estimated test cell utilization at the end of December increased to 73%, with OSATs at 76% and IDMs at 70% [10] - Automotive and industrial markets are experiencing significant inventory corrections, with expectations of recovery in the second half of 2025 [56][68] Company Strategy and Development Direction - The company is focusing on aligning new products with compute applications, particularly in the data center market and AI at the EDGE [12][16] - Cohu aims to establish itself as a key player in AI-driven semiconductor manufacturing, with a projected annual growth rate of 50% or more for software revenue over the next three years [16] - The acquisition of Tignis is expected to enhance Cohu's software capabilities and expand its market reach [16][96] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by ongoing inventory corrections in the automotive and industrial sectors, predicting another two quarters of adjustment [56][57] - The company is optimistic about growth opportunities in data centers and AI applications, despite the current market conditions [55][56] - Q1 2025 revenue is guided to be approximately $97 million, impacted by customer requests to delay shipments [26] Other Important Information - Cash and investments decreased by $7 million during Q4, with a total of $262 million remaining on the balance sheet [24][25] - The company had no share repurchase activity in Q4, having repurchased approximately 915,000 shares for $27 million through the end of Q3 2024 [25] Q&A Session Summary Question: Revenue impact of new businesses - Management expects HBM to contribute about $7 million, silicon carbide about $5 million, and software around $1 million in 2025, totaling $25 million to $30 million from new drivers [38][39] Question: Utilization levels in automotive and industrial - Automotive and industrial markets are still digesting inventory, with expectations of recovery in the second half of 2025 [46][56] Question: Diamondx win details - The key parameter for winning the Diamondx business was cost of test, addressing various semiconductor applications [51] Question: Recovery in revenue line - Management is focusing on expanding penetration in high-growth segments like data centers, with a cautious outlook on market recovery [54][56] Question: Segment revenue projections for 2025 - Automotive and industrial are expected to recover first, followed by mobile, with specific revenue projections not yet available for 2025 [68] Question: Stability of recurring revenue - Recurring revenue is expected to remain stable, with historical data showing it has about one-third the volatility of systems revenue [84]

Financial Data and Key Metrics Changes - Ameren Corporation reported adjusted earnings of $4.63 per share for 2024, an increase from $4.38 per share in 2023, exceeding the 2024 adjusted earnings guidance midpoint [11][39] - The company strategically invested approximately $4.3 billion in energy infrastructure in 2024, which contributed to operational and financial success [10][11] - Weather-normalized retail sales grew approximately 2% across Ameren Missouri, with specific growth rates of 2% in residential, 1.5% in commercial, and 3% in industrial sectors [41][42] Business Line Data and Key Metrics Changes - The successful execution of the infrastructure investment strategy improved grid resilience, preventing over 3.5 million minutes of potential outage time during severe winter storms [12] - The company expects to invest approximately $4.2 billion in electric, natural gas, and transmission infrastructure in 2025 to enhance safety, reliability, and responsiveness of the energy grid [15][19] Market Data and Key Metrics Changes - Ameren's weather-normalized retail sales are projected to increase approximately 5.5% compounded annually from 2025 through 2029, a significant increase from previous expectations of flat to 0.5% growth [22] - The company anticipates a robust economic growth pipeline across multiple sectors, including aviation, biotechnology, and data centers, which will drive energy demand [21][22] Company Strategy and Development Direction - The company is guided by a Three Pillar strategy focusing on investing in rate-regulated infrastructure, enhancing regulatory frameworks, and optimizing operating performance [9] - Ameren's long-term growth outlook includes a compound annual earnings per share growth expectation of 6% to 8% from 2025 through 2029, with a focus on strategic infrastructure investments [16][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver strong long-term earnings growth driven by robust rate base growth and disciplined cost management [60] - The company plans to continue advocating for constructive energy policies to support economic growth and job creation within its communities [34][35] Other Important Information - Ameren's Board of Directors approved a quarterly dividend increase of approximately 6%, marking the 12th consecutive year of dividend growth [17][18] - The company has a robust 10-year investment pipeline of over $63 billion aimed at enhancing the reliability and efficiency of the energy grid [35] Q&A Session Summary Question: Can you elaborate on the growth profile and how close you are to the top end of the 6% to 8% range? - Management highlighted strong sales growth expectations and a robust capital plan, indicating that they expect to deliver near the upper end of the range in the mid to latter part of the five-year plan [66][71] Question: What is the capacity headroom in the resource mix if demand exceeds the current plan? - Management indicated that the current resource plan supports the ability to serve 2 gigawatts by 2032, with potential for additional capacity if demand increases [75][112] Question: Can you provide insights on the balance sheet and FFO to debt positioning? - Management expressed confidence in maintaining a strong balance sheet, indicating that they are positioned to support a Baa1 rating and are above the downgrade threshold [90][89] Question: How do you view the regulatory lag in the current investment cycle? - Management acknowledged the importance of managing regulatory lag and emphasized their proactive approach to ensure projects are in place to maximize returns [136][137]

Moving iMage Technologies, Inc. (NYSE:MITQ) Q2 2025 Earnings Conference Call February 13, 2025 11:00 AM ET Company Participants Brian Siegel - VP of IR and Strategic Communications Phil Rafnson - Chairman and CEO Francois Godfrey - President and COO Joe Delgado - Co-Founder and EVP of Sales and Marketing Conference Call Participants Operator Greetings, and welcome to the Moving iMage Technologies Second Quarter 2025 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being re ...

Financial Data and Key Metrics Changes - Agnico Eagle reported record financial results in 2024, with record revenue of $2.2 billion, adjusted earnings of $632 million ($1.26 per share), and operating cash flow exceeding $1.1 billion ($2.26 per share) [21][22] - For the full year, gold production reached approximately 3.49 million ounces, with total cash costs around $903 per ounce and all-in sustaining costs of $1,239 per ounce [20][21] - The company reduced its net debt significantly from $1.5 billion at the start of 2024 to just $217 million by year-end [23][25] Business Line Data and Key Metrics Changes - The Nunavut platform achieved record operating margin of $1.3 billion in 2024, driven by operational records at Meliadine and Meadowbank [30] - Detour set a third consecutive quarterly mill throughput record, while Macassa and Fosterville also achieved annual production records [49][50] - Pinos Altos faced challenges due to its mature status, prompting a reassessment of productivity rates for 2025 [50] Market Data and Key Metrics Changes - The average gold price for 2024 was $2,384 per ounce, with expectations for significant margin expansion and cash flow growth in 2025 due to current spot prices [21][22] - The company anticipates a volatile year in 2025, with gold price volatility skewed to the upside [15] Company Strategy and Development Direction - Agnico Eagle aims to grow its Ontario platform by 50% over the next several years, with projects like Upper Beaver and Detour Underground contributing to this growth [5][54] - The company is focused on low-risk, high-quality jurisdictions and disciplined capital deployment, emphasizing the importance of knowledge before spending [70][72] - The vision includes potentially processing over 1 million ounces annually at both Malartic and Detour, positioning Agnico Eagle among the largest gold producers globally [6][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong position, citing a robust project pipeline and a strong balance sheet with nearly $1 billion in cash [12][13] - The management remains constructive on gold prices, believing that the factors driving gold prices up over the last 20 years are still in place and accelerating [14][15] - The company is committed to delivering strong production and best-in-class cost control to maximize shareholder returns [15][17] Other Important Information - Agnico Eagle plans to continue investing in high-return internal growth projects while maintaining a flat sustaining capital spending in 2025 [27] - The company is focused on exploration, with over 1.2 million meters of drilling completed in 2024, leading to significant mineral resource growth [62][67] Q&A Session Summary Question: Timeline for Hope Bay project delivery - Management indicated that the focus is on freezing the project scope and expects to provide more details in the first half of 2026, with potential startup early next decade [84][86] Question: Capital allocation and excess cash - The company plans to maintain the current dividend and be opportunistic with share repurchases while focusing on improving the balance sheet and achieving a net cash position [95][96] Question: Growth projections beyond the 3-year guidance - Management emphasized that growth will only be pursued if it creates value for shareholders, with expectations for continued growth in production from projects like Detour and Hope Bay [102] Question: Update on Meadowbank and potential extensions - The team is exploring scenarios to extend the life of Meadowbank through underground operations, potentially generating 150,000 ounces per year from 2028 to 2035 [110][111] Question: License progression at San Nicolas - The company is progressing with regulatory submissions for San Nicolas, but there is uncertainty regarding proposed constitutional changes affecting open-pit mining [114] Question: Capacity potential at Malartic and Wasamac - Management discussed the potential for additional capacity at Malartic and the logistics of transporting ore from Wasamac, emphasizing ongoing evaluations [120][122]