Financial Data and Key Metrics Changes - First quarter revenue for 2025 was $41.5 million, a decrease of 7.6% compared to the first quarter of 2024, primarily due to weakness in instrument sales in the U.S. and EMEA regions [9][26] - Service revenue increased by 24% year-over-year, reaching $13.3 million, driven by the expansion of the instrument installed base and active usage [9][27] - GAAP gross profit was $20.2 million, a decrease of 12% from $23 million in the prior year, with a GAAP gross margin of 49% compared to 51% a year ago [28][29] - Adjusted EBITDA loss was $3.3 million for the first quarter, compared to a loss of $0.7 million in Q1 of the previous year [31] Business Line Data and Key Metrics Changes - Product revenue, which includes instruments and reagents, decreased by 18% compared to Q1 of 2024, primarily due to a weaker instrument market in the U.S. and EMEA [26] - Aurora cell sorter revenue grew by 15% year-over-year, while Northern Lights revenue increased by 6% year-over-year in the first quarter [18] - Trailing twelve-month recurring revenue grew 17% year-over-year, representing 31% of total revenue in the first quarter, up from 26% a year ago [21][58] Market Data and Key Metrics Changes - Total revenue in the Asia Pacific and the rest of the world regions was $11.4 million, up 35.6% year-over-year, driven by strong demand in China [12][27] - U.S. and EMEA revenue declined by 13% and 24% respectively, due to lower instrument sales influenced by academic funding uncertainties and government budget pressures [27] Company Strategy and Development Direction - The company aims to solidify its position as a market leader in cell analysis solutions by expanding its product pipeline and investing in service teams [34] - The strategy includes region-for-region manufacturing to mitigate tariff impacts and enhance supply chain resilience [39][40] - The company is focused on growing its reagent business and expanding its installed base to drive recurring revenue growth [21][58] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning despite macroeconomic challenges, noting that over 50% of revenue comes from outside the U.S. [13][47] - The revised full-year 2025 revenue outlook is projected to be between $196 million and $210 million, reflecting a growth range of -2% to +5% compared to 2024 [32] - Management anticipates that uncertainties in funding will impact instrument sales, but service and reagent revenues are expected to continue growing [48][57] Other Important Information - The company has established manufacturing operations in the U.S., China, and Singapore to optimize product flows and enhance supply chain resilience [14] - The installed base of instruments increased by 115 units in the first quarter, bringing the total to 3,149 units [15] Q&A Session Summary Question: Impact of tariffs on gross margin - Management indicated that tariffs would have a limited impact on gross margin, estimated between 1% to 3%, and that gross margins are expected to improve as revenues increase in the following quarters [37][42] Question: Academic government end market outlook - Management acknowledged the uncertainties in university funding and indicated that these factors were included in the revised guidance, noting that over 50% of revenue is generated outside the U.S. [45][47] Question: Growth drivers for AURORA sales - Management highlighted that the growth in AURORA sales is driven by the alignment of their sorter and analyzer technologies, which are well-received by both academic and industry users [51][52] Question: R&D spending focus - Management confirmed that R&D spending remains between 15% to 20% of revenue, with a focus on imaging technologies for new product innovation [61][62] Question: Share repurchase versus M&A - Management stated that they plan to continue both share repurchases and have capital available for M&A, indicating a balanced approach to capital allocation [65]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $99.9 million, more than doubled year over year, and was in line with guidance of $94 million to $104 million [25][35] - Non-GAAP gross margin was 30.7%, above the guidance range of 29% to 30.5%, and up from 28.9% in Q4 2024 [28][29] - Non-GAAP net loss for Q1 was $0.9 million or $0.02 per share, compared to a loss of $12 million or $0.31 per share in Q1 2024 [30] Business Line Data and Key Metrics Changes - CATV segment revenue was $64.5 million, up more than six times year over year and increased 24% sequentially, driven by 1.8 GHz amplifier shipments [25][26] - Data center products revenue was $32 million, up 11% year over year but down 28% sequentially due to inventory digestion [25][26] - Telecom segment revenue was $2.9 million, up 29% year over year but down 17% sequentially [27] Market Data and Key Metrics Changes - 70.8% of data center revenue came from 100 Gbps products, with 10% from 200 Gbps and 400 Gbps products, and 10% from 40 Gbps products [26] - The top 10 customers represented 97% of revenue, with one customer in CATV contributing 64% and another in data center contributing 27% [28] Company Strategy and Development Direction - The company is focused on expanding production capacity for 800 Gbps and higher transceivers, with plans to reach approximately 40,000 transceivers per month by the end of 2025 [13][24] - The company aims to return non-GAAP gross margin to around 40% in the long term, driven by manufacturing efficiencies and improved product mix [29] - The company is committed to onshoring production to meet customer demand for domestic manufacturing, particularly in light of tariff concerns [15][16] Management's Comments on Operating Environment and Future Outlook - Management noted strong demand in the CATV market and positive long-term growth trends in both CATV and data center markets [12][18] - The company expects a modest sequential decrease in CATV revenue in Q2 due to retooling for Motorola-style amplifiers [35] - Management remains vigilant regarding tariff impacts but does not expect significant effects in Q2 based on current information [12] Other Important Information - The company ended Q1 with $66.8 million in cash and equivalents, down from $79.1 million at the end of Q4 2024 [32] - Capital expenditures for the year are expected to be between $120 million and $150 million, with a focus on expanding production capacity [34] Q&A Session Summary Question: What is the status of channel inventory for cable TV products? - Management has good knowledge of inventory levels and is intentionally building inventory in anticipation of revenue ramp due to tariff concerns [37][38] Question: Can you clarify the retooling to Motorola-style amplifiers? - The company is shifting production to Motorola-style amplifiers and expects to have significant inventory of both products by June [52] Question: What is the long-term market outlook for 800 Gbps products? - The market for 800 Gbps is expected to grow significantly, with the company aiming to be a major supplier for Amazon and other hyperscale customers [55][76] Question: What is the margin differential between cable TV and data center transceivers? - Cable TV products currently have margins that are 300 to 600 basis points higher than data center products [81] Question: What is the qualification status for 800 Gbps products? - The company is in the final qualification phase for several customers and expects to ramp production significantly in the second half of the year [83][85]

Sight Sciences Inc (SGHT) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Company Participants None - ExecutivePaul Badawi - Founder, CEO & DirectorAli Bauerlein - CFOThomas Stephan - Vice PresidentMatt Link - CCOMacauley Kilbane - Equity Research Associate Conference Call Participants None - AnalystFrank Takkinen - Senior Research AnalystDavid Saxon - Senior Analyst Operator Good day, and thank you for standing by. Welcome to the SITE Sciences first quarter two thousand twenty five earning results conferenc ...

Senseonics (SENS) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Company Participants Jeremy Feffer - Managing DirectorTimothy Goodnow - President & Chief Executive OfficerRick Sullivan - CFOAnthony Petrone - Managing Director Equity Research Conference Call Participants Sam Eiber - Vice President and Medical Technology Analyst Operator Please stand by. Your program is about to begin. Good day, everyone, and welcome to the Senseonics First Quarter twenty twenty five Earnings Call. At this time, all particip ...

Treace Medical Concepts (TMCI) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Company Participants Philip Taylor - PrincipalJohn Treace - CEO, Founder & ChairmanMark Hair - Chief Financial OfficerIseult McMahon - Equity Research AssociateFelipe Lamar - Senior Equity Research AssociateJayna Francis - Equity Research Associate Conference Call Participants Lilia-Celine Lozada - Analyst Operator Good day, and thank you for standing by. Welcome to the Therese Medical Concepts first quarter twenty twenty five ear ...

Xponential Fitness (XPOF) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Company Participants Patricia Nir - Senior Vice PresidentMark King - CEO & DirectorJohn Meloun - Chief Financial OfficerRandal Konik - Managing DirectorJoe Altobello - Managing DirectorChris O'cull - Managing DirectorRichard Magnusen - Senior Research AssociateJohn-Paul Wollam - Equity Research AssociateLogan Hennen - Equity Research Associate Conference Call Participants John Heinbockel - Senior MD & Equity Research AnalystJonathan Ko ...

Natural Grocers by Vitamin Cottage (NGVC) Q2 2025 Earnings Call May 08, 2025 04:30 PM ET Company Participants Jessica Thiessen - Vice President & TreasurerKemper Isely - Chairman, Director & Co-PresidentRichard Hallé - CFO Conference Call Participants None - Analyst Operator Good day, ladies and gentlemen. Welcome to the Natural Grocers Second Quarter Fiscal Year twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. Later, we will conduct a question and answe ...

Iovance Biotherapeutics (IOVA) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Company Participants Sara Pellegrino - Senior Vice President, Investor Relations and Corporate CommunicationsFrederick Vogt - Interim CEO, President, General Counsel, Corporate Secretary & DirectorDan Kirby - Chief Commercial OfficerIgor Bilinsky - Chief Operating OfficerJean-Marc Bellemin - Chief Financial OfficerFriedrich Graf Finckenstein - Chief Medical OfficerAndrew Tsai - SVPSalim Syed - Managing Director, Equity ResearchAnd ...

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $181.7 million, an increase of 62.5% year-over-year and 12% quarter-over-quarter [28][5][30] - Gross profit reached nearly $100 million, up 24% year-over-year with a gross margin of 53% [5][30] - The company reported a net loss of $138.8 million, primarily due to a decline in Bitcoin spot prices [30][14] - Adjusted EBITDA was negative $57.8 million, but operations produced approximately $70 million of positive EBITDA when normalized [30][12] - The average revenue per Bitcoin was $92,811, a 69% increase year-over-year [29][30] Business Line Data and Key Metrics Changes - Bitcoin production for the quarter was 19.57 Bitcoin, a slight decrease of 3.6% year-over-year despite a halving event [28][30] - The marginal cost per coin rose to approximately $42,600, a 26% increase over the previous quarter [31][30] - Cash overhead decreased by 16% quarter-over-quarter [12] Market Data and Key Metrics Changes - Bitcoin traded at approximately $81,000 at quarter-end, down from $93,000 at the beginning of the year [14] - The mining difficulty increased by 3.6% during the quarter [14] Company Strategy and Development Direction - The company is focused on maintaining and growing its market share, currently at about 5% [47] - CleanSpark is committed to a balanced approach between treasury growth and strategic monetization of Bitcoin [11][36] - The company plans to continue expanding its operations, targeting over 50 exahash by mid-2025 [12][20] - CleanSpark aims to avoid equity dilution and instead utilize non-dilutive funding options [10][36] Management's Comments on Operating Environment and Future Outlook - Management highlighted resilience amid challenges such as rising energy prices and declining Bitcoin prices [14][26] - The company is well-positioned to capitalize on market opportunities, particularly in acquiring smaller miners at attractive valuations [18][76] - Management emphasized a disciplined approach to capital management and operational efficiency [11][26] Other Important Information - CleanSpark was ranked 35th in the Financial Times 2025 list of the 500 fastest-growing companies in the Americas [22] - Institutional ownership in the company's stock increased to nearly 64% following its inclusion in the S&P SmallCap 600 Index [22] Q&A Session Summary Question: Outlook for network cash rate growth in 2025 and CleanSpark's market share - Management noted a plateau effect in network growth but expressed confidence in maintaining and growing market share [46][47] Question: How the digital asset management team will generate shareholder value - Management discussed selecting the right counterparties and strategies to generate cash flow and flexibility [48][49] Question: Impact of competitors pivoting to HPC on rig pricing - Management indicated that reduced demand from competitors has created opportunities for acquiring rigs at lower costs [56][58] Question: Coverage of CapEx through Bitcoin sales - Management confirmed that excess cash from Bitcoin sales could cover CapEx and operational expenses [61][62] Question: Consideration of using Bitcoin holdings to repurchase shares - Management stated that while they consider all options, the focus remains on growing the Bitcoin balance and enhancing shareholder value [67][70] Question: Future of Bitcoin-backed facilities and M&A opportunities - Management expressed openness to bolt-on acquisitions, especially if valuations are advantageous [75][76]

Profound Medical (PROF) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Company Participants Stephen Kilmer - Investor RelationsRashed Dewan - CFOMathieu Burtnyk - PresidentTom Tamberrino - Chief Commercial OfficerArun Menawat - Chairman & CEOBen Haynor - Managing DirectorJohn McAulay - AVPScott McAuley - Head of Research Conference Call Participants Michael Freeman - Equity Research Analyst - Healthcare Operator Good day, and thank you for standing by. Welcome to the Profound Medical First Quarter twenty tw ...