Financial Data and Key Metrics Changes - Total revenue for Q2 was $173 million, up 6% from 2024 [24] - Contribution ex TAC was $162 million, up 10%, exceeding the high end of guidance [24] - Adjusted EBITDA was $54 million, growing 22% with a margin of 34% compared to 30% last year [28][23] - Net income was $11 million for the quarter compared to a net loss of $1 million for 2024 [27] Business Line Data and Key Metrics Changes - CTV contribution ex TAC was $72 million, up 14% year over year or 15% excluding political [24] - DV plus contribution ex TAC was $90 million, an increase of 8% from the second quarter last year [24] - Contribution ex TAC mix for Q2 was 44% CTV, 39% mobile, and 17% desktop [25] Market Data and Key Metrics Changes - Significant growth came from partnerships with Roku, Netflix, LG, Warner Bros. Discovery, and Paramount [7] - The SMB segment is expected to explode over the next three to five years, driven by specialized DSPs [10] - The company is seeing share gains in DV plus from some of the largest DSPs [13] Company Strategy and Development Direction - The company is focused on deepening partnerships with major agency HoldCo's and expanding its CTV technology [10][12] - Continued investment in live TV, Clearline, and Curation offerings is planned as these areas represent attractive growth opportunities [21] - The company is preparing for potential outcomes from the antitrust ruling against Google, which could shift market share [19][20] Management's Comments on Operating Environment and Future Outlook - Management noted that macroeconomic downsides were not as pronounced as initially feared, leading to stronger than expected growth [23] - The company expects growth rates to accelerate in the second half of 2025, particularly in CTV ex political [21] - Management remains cautious with Q3 and full year expectations but is optimistic about the overall ad spend environment stabilizing [30] Other Important Information - The company is developing AI capabilities as a core product focus, including audience discovery and inventory categorization [16][17] - The cash balance at the end of Q2 was $426 million, with plans to pay off convertible notes at maturity [29] - The company intends to continue its share repurchase program, with $88 million remaining [30] Q&A Session Summary Question: Can you discuss the broader momentum and new partnerships? - Management highlighted the traction in the marketplace, particularly in CTV, and the success of their modular product approach [36] Question: What is the base case regarding the Google antitrust case? - Management stated that it is difficult to predict outcomes until remedies are ruled by the judge, but they see merit in potential civil actions [37] Question: What is driving the reiteration of the prior guidance? - Management noted that the ad spend market has stabilized, leading to comfort in reiterating full year expectations [40][41] Question: How do you view the impact of AI on your business? - Management expressed confidence that AI tools will enhance inventory discovery and targeting, leading to increased revenue [102] Question: What is the outlook for live sports contribution? - Management indicated that while it is still early, they are optimistic about the potential contributions from live sports partnerships [53] Question: How is Magnite positioned with platform companies? - Management noted that there is a realization among platform owners that they are under-monetizing inventory without third-party demand [58] Question: What are the implications of the Google antitrust ruling? - Management believes that any remedies resulting in a more level playing field will be beneficial for their business and could shift market share [20][21]

Financial Data and Key Metrics Changes - Total revenues were slightly down, impacted by weakness in card issuing and a decrease in interest income, but ACH revenues grew over 30% for the second consecutive quarter [4][5] - Total payment dollars processed increased by 15% to $1.9 billion, with ACH processing up 19% and card processing up 9% [5] - Gross margins widened by 185 basis points to 25.8%, leading to an increase in gross profits by $350,000 to $5.1 million [6][7] - Adjusted EBITDA was reported at just over $500,000, indicating continued profitability [7][26] Business Line Data and Key Metrics Changes - ACH revenues increased by 32% in Q2, with electronic check transaction volume up 33% and electronic check dollars processed up 19% [17] - Card issuing saw a nominal decline in revenue for the quarter but improved year-over-year margins and adjusted EBITDA [22] - Output Solutions processed over 5.4 million mail pieces and more than 20 million electronic documents, with a slight increase in transaction pieces processed [18][20] Market Data and Key Metrics Changes - The company is adjusting its revenue guidance expectations to a growth range of 5% to 12% for the year due to prolonged customer implementation delays [10] - The company is focusing on diverse markets, which helps mitigate risks associated with macroeconomic fluctuations [50] Company Strategy and Development Direction - The UCO One initiative aims to integrate various product offerings and improve cross-selling opportunities among existing clients [11][31] - The company is committed to enhancing profitability through cost reductions and improved productivity across all business lines [14][21] - The company is exploring acquisition opportunities in a more active M&A environment, focusing on strategic value and favorable valuation multiples [33][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in generating strong cash flow and improving liquidity over the remainder of the year [8] - The company is optimistic about the second half of the year, citing a strong portfolio of existing clients and numerous initiatives underway [15][26] - Management acknowledged the impact of lost accounts on revenue but indicated efforts to backfill these losses quickly [22] Other Important Information - The company is implementing additional cost reductions and expects to see a decrease in certain expenses in future quarters [7] - The company is quadrupling its check printing capacity to capitalize on growth opportunities in check-dependent use cases [21] Q&A Session Summary Question: Can you expand on the number of new programs in implementation? - Management confirmed there are currently 20 card issuing programs in implementation, which is the highest in history [30] Question: What is the outlook for M&A activity? - Management indicated that M&A activity is more active now, with several deals fitting their criteria [33] Question: What contributed to the improvement in gross margins? - Management attributed the improvement to a mix of factors, including strong growth in ACH and efficiency gains [39] Question: How should investors view the revenue guidance range? - Management explained that the range is influenced by customer implementation timelines, with potential for higher revenue if implementations accelerate [45] Question: What was the revenue impact from the amusement park account loss? - Management stated that the loss cost approximately $2 million in quarterly revenue [55]

Financial Data and Key Metrics Changes - In Q2 2025, net revenue grew 37% to $6.6 million compared to $4.9 million in the prior year period, driven by new Eversense three sixty five insertions [22][28] - Gross profit for Q2 2025 was $3.1 million, an increase of $2.8 million from the prior year, primarily due to increased margins on the three sixty five day product and a one-time gain of $700,000 from VAT recoveries [26][27] - Net loss decreased to $14.5 million or $0.02 loss per share in Q2 2025, compared to a net loss of $20.3 million or $0.03 loss per share in Q2 2024 [27][28] Business Line Data and Key Metrics Changes - New patient starts for Eversense increased by 79% year-over-year and 37% from Q1 2025, with leads more than doubling compared to the prior year [6][8] - The consignment channel accounted for over 40% of revenue in Q2 2025, with revenue recognized at the time of procedure [25][26] - The average selling prices in the consignment channel are approximately two times the ASPs through the Ascensia direct shipment channel [26] Market Data and Key Metrics Changes - U.S. revenue for Q2 2025 was $4.9 million, while revenue outside the U.S. was $1.7 million [22] - The company expects to double the global patient base in 2025 compared to 2024, with the majority of revenue expected in Q4 due to new patient starts and reorders [28][29] Company Strategy and Development Direction - The company aims to enhance Eversense awareness and adoption through increased direct-to-consumer (DTC) marketing and expanding the EON Care network [4][5] - Plans include launching Eversense three sixty five in Europe later this year and collaborating with other companies to improve market presence [9][10] - The company is focused on developing the Gemini and Freedom systems, targeting a U.S. submission for Gemini in mid-2026 and a launch for Freedom about a year after Gemini [15][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth of Eversense, with expectations for increased patient starts and reorders as the first three sixty five adopters approach their next insertions [7][29] - The company anticipates full-year 2025 global net revenue to be approximately $34 million to $38 million, considering various factors including regulatory approval timelines and marketing spending [28][30] - Management is monitoring the impact of tariffs and expects to mitigate negative effects while maintaining favorable gross profit margins [30] Other Important Information - The company raised approximately $78 million in gross proceeds during Q2 2025, which will support ongoing initiatives and product launches [18][20] - A reverse stock split is being considered to facilitate broader investment opportunities and inclusion in indices with stock price requirements [21][22] Q&A Session Summary Question: Retention rates for Eversense - Management indicated that historical retention rates are around 75% from sensor one to two, increasing to about 85% from sensor two to three, and about 95% from sensor three and beyond [36][37] Question: Consignment channel revenue contribution - The consignment channel is expected to continue increasing as a percentage of total revenue, supported by Medicare pricing and EON Care efforts [41][42] Question: Mix of diabetics using Eversense - Currently, approximately 75% of patients using Eversense are type 2 diabetics, reflecting a shift from the initial focus on type 1 patients [47][48] Question: EON Care revenue contribution - EON Care services contribute low single-digit percentages to revenue, but this is expected to grow as the network expands [53] Question: Commercialization of the Twist pump - The company plans significant co-marketing efforts with Sequel for the Twist pump, with a formal development agreement in place [56][57] Question: CMS proposal for competitive bidding - Management confirmed that Eversense is compensated as a medical benefit under Medicare and will not be part of the competitive bidding process [66][67] Question: Timing for EON Care benefits - The company currently has around 40 professionals in the EON Care network, with plans to increase this to 50 in the next few months and double that by 2026 [68][69]

Schrödinger (SDGR) Q2 2025 Earnings Call August 06, 2025 04:30 PM ET Speaker0Thank you for standing by. Welcome to Schrodinger's Conference Call to Review Second Quarter twenty twenty five Financial Results. My name is Rob, and I'll be your operator for today's call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session.Please be advised that this call is being recorded at the company's request. Now I would like to introd ...

Financial Data and Key Metrics Changes - Revenues for Q2 2025 were reported at just over $59 million, at the upper end of the outlook provided in May [7] - Q2 gross margin exceeded expectations at 19.5%, with adjusted EBITDA of $2.3 million also stronger than forecast [27] - The company ended Q2 with $49.4 million in cash and total debt outstanding of $65.7 million, with a net increase in borrowings of $5.5 million during the quarter [28] Business Line Data and Key Metrics Changes - The acquisition of Fab 25 is expected to double revenue scale and adjusted EBITDA immediately, with strong free cash flow generation from the outset [10] - Wafer Services revenue from Fab 25 is expected to be in the range of $75 million to $80 million for Q3 [30] - ATS revenue for Q3 is projected at approximately $50 million, with Wafer Services revenue of $5 million to $6 million [31] Market Data and Key Metrics Changes - The company anticipates revenue growth exceeding 30% in the quantum computing segment for 2025, with continued growth expected into 2026 [18] - The advanced packaging operation in Florida is expected to contribute to sequential growth in ATS business in Q4 [13] Company Strategy and Development Direction - The acquisition of Fab 25 establishes the company as the largest U.S.-based pure play foundry service provider, enhancing its capacity and strategic positioning [9] - The company aims to leverage cost optimization across its Minnesota and Texas fabs to drive synergies in engineering and operations [10] - The strategy focuses on enabling the semiconductor industry's evolution through scaled open access 200mm manufacturing paired with high-value IP and specialized process capabilities [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term growth potential in the semiconductor industry, particularly in light of national security concerns and the need for domestic production [21] - The company expects to see continued momentum in quantum computing applications and advanced packaging, which are key growth areas moving into 2026 [18][20] - Management acknowledged challenges in the aerospace and defense sectors due to government funding delays but remains optimistic about future funding increases [15] Other Important Information - The company has revised its financial supplement to reflect expected revenue and gross margin disclosures starting in Q3 [4] - The acquisition of Fab 25 was finalized with an upfront payment of $93 million, fully funded through a new debt facility [7] Q&A Session Summary Question: Future milestones for Fab 25 margin expansion - Management indicated that activities are underway to expand margins, including bringing in ATS engineering revenue and new product introductions [38][39] Question: Revenue guidance and fab loadings for Infineon business - The fab is currently running at target utilization, and management expects to maintain output while bringing in new customers and capabilities [46][47] Question: Customer targeting for Fab 25 - The company is targeting hybrid semiconductor manufacturers and those valuing U.S.-based sourcing, particularly in industrial and automotive sectors [62][63]

Financial Data and Key Metrics Changes - Total revenues for the second quarter reached $128 million, representing a 64% increase compared to the same quarter last year [6][19] - The company raised its full-year revenue guidance for 2025 to a range of $490 million to $510 million, indicating nearly 50% top-line growth [6][13] Business Line Data and Key Metrics Changes - Net product sales for Lidmarley were approximately $128 million, driven by strong demand in both the U.S. and international markets [10] - In the U.S., Lidmarley generated about $57 million in net product sales, with increased patient awareness contributing to higher volumes [11][12] - Internationally, Lidmarley sales reached $31 million, supported by expanding reimbursement and strong demand [12][13] - The bile acid portfolio contributed approximately $40 million in revenue, benefiting from steady demand [13] Market Data and Key Metrics Changes - The U.S. market for Lidmarley is seeing increased recognition of PFIC diagnoses, with more patients presenting later in childhood or adulthood [11] - The company is experiencing durable growth in international markets, particularly with the recent launch of Lidmarley in Japan [12] Company Strategy and Development Direction - The company’s strategy focuses on commercial execution, scientific innovation, and financial discipline, with ongoing progress in all areas [6] - The pipeline includes three late-stage milestones, with significant studies expected to report data in the next 24 months [7][15] - Lidmarley is positioned to potentially become a billion-dollar revenue brand, driven by growth in Alagille syndrome and PFIC indications [14][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing momentum of commercial medicines and the pipeline, highlighting the potential for significant patient impact [5][21] - The company is optimistic about the upcoming clinical milestones and the overall growth trajectory [7][19] Other Important Information - The company reported operating cash flow positivity for the quarter, with cash and investments totaling $322 million [20] - The cash contribution margin from the commercial business exceeded 50% in the second quarter [20] Q&A Session Summary Question: What are the overall therapy persistence rates for Lidmarley? - Management indicated that persistence rates for Alagille syndrome are stable, with approximately 70-75% of patients remaining on therapy after one year [25][26] Question: Can you provide details on expected revenue distribution between Lidmarley and the bile acid business? - Management did not break down guidance by specific products but noted that trends observed year-to-date are expected to continue [33] Question: What are the main drivers of growth in Lidmarley sales? - Key drivers include increased awareness of PFIC and the introduction of a single tablet formulation, which has received positive feedback [37][38] Question: Any insights on inventory impacts in Q2 and Takeda order cadence? - Inventory impacts are primarily relevant in Japan, with expectations of periodic orders from Takeda leading to quarter-to-quarter variability [42][43] Question: What is the status of the Fragile X study? - The company has received clearance from the FDA and is on track to initiate the Phase II study by the end of the year [48] Question: How well penetrated is the company in the Alagille and PFIC markets? - Management estimates approximately 50% penetration in the Alagille market, with ongoing efforts to increase awareness and patient identification in PFIC [55][56] Question: Are any patients in the EXPAND study already on Lidmarley through compassionate use? - The EXPAND study is designed for patients who have not previously been treated, with strong interest from patient populations [61]

Kulicke and Soffa Industries (KLIC) Q3 2025 Earnings Call August 06, 2025 04:30 PM ET Speaker0Greetings, and welcome to the Q3 twenty twenty five Quarter Results. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Joe Ellinge.Thank you. You may begin.Speaker1Welcome everyone to Kewelkits Office fiscal third quarter twenty twenty five confer ...

Financial Data and Key Metrics Changes - For the second quarter, net sales grew by 10.1% to $44.5 million, marking a significant increase compared to the previous year [7][18] - Adjusted EBITDA improved by $4.6 million to $200,000, representing the first profitable quarter since going public [21] - Gross margin increased to 48.7%, up from 41.9% in the same quarter last year, reflecting lower product costs and improved inventory management [18][19] - Net loss was reduced to $700,000 from $7 million in the prior year, showing a substantial improvement [20] Business Line Data and Key Metrics Changes - The marketing campaign "Get the Fake Out of Here" contributed to double-digit growth, with notable engagement and impressions [8] - New flavor launches, particularly strawberry lemon burst and orange creamsicle, have driven excitement and sales velocities [9][10] - Distribution surpassed historical peak levels, with strong performance in key retail accounts [11][12] Market Data and Key Metrics Changes - Strong performance was noted at Walmart, with the first variety pack being the top-selling SKU [12] - Positive scan data in the grocery channel indicated strong performance across key retailers [12] - In the club channel, Zevia returned to rotation in key Costco regions, exceeding expectations [13] Company Strategy and Development Direction - The company is focused on three strategic growth pillars: marketing, product innovation, and distribution [5][14] - Continued emphasis on expanding distribution and enhancing brand visibility through innovative marketing strategies [6][14] - The company aims to capitalize on the growing "better for you" soda category, positioning itself for long-term profitable growth [24] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism due to an uncertain macro environment but remains focused on executing strategic initiatives [22] - The outlook for full-year net sales is maintained at $158 million to $163 million, with adjusted EBITDA loss expected to range from $7 million to $9 million [22][23] - Management highlighted the importance of balancing short-term marketing investments with long-term brand building [56] Other Important Information - The company identified an additional $5 million in cost savings expected to be realized in 2026, bringing total anticipated savings to $20 million [17] - A one-time charge of $500,000 related to packaging redesign will impact Q3 adjusted EBITDA [23] Q&A Session Summary Question: What drove the strong sales in the quarter? - Management noted balanced growth from new distribution at Walmart and positive momentum in grocery channels, with new items contributing to incremental distribution [25][28] Question: Can you elaborate on the productivity initiative and the $5 million in gains? - Management indicated that efficiencies are being found within the supply chain and product portfolio simplification, with savings expected to begin in Q4 of this year [31][32] Question: What is the outlook for Q4 given the current guidance? - Management expressed caution due to a substantial Walmart pipeline fill in the previous year, which may lead to flat growth in Q4 [35][38] Question: How should tariffs be considered moving forward? - Management confirmed an estimated 200 basis point impact on gross margins due to tariffs, with more material impacts expected starting in Q3 [39][42] Question: What factors contributed to the increase in household penetration and purchase frequency? - Increased visibility in the marketplace and successful new flavor launches were cited as key contributors to the uptick in consumer metrics [45][46] Question: How is the company balancing improved EBITDA with marketing reinvestment? - Management emphasized the importance of both long-term brand building and short-term velocity driving tactics, aiming for sustainable growth [54][56]

Financial Data and Key Metrics Changes - Total revenues for the second quarter of 2025 reached $122 million, reflecting a 14% year-over-year increase or approximately 29% growth when adjusted for a nonrecurring Medicaid rebate accrual reversal from 2024 [9][17] - Adjusted net income grew to $36 million, representing an 85% underlying growth year-over-year when normalizing for the prior year's Medicaid rebate accrual [10][18] - Adjusted EBITDA increased to $50.8 million, up 59% on an underlying basis after adjusting for the Medicaid rebate accrual benefit [10][18] - Gross profit rose to $67.2 million, with gross margins improving to 55.1% from 53.6% a year ago [10][18] Business Line Data and Key Metrics Changes - The Ascentive product line continues to gain momentum, with utilization reaching record highs in the second quarter [7][9] - The company reported a strategic increase in inventory of $19.3 million to support Ascentive demand, indicating strong commercial expansion [12][18] Market Data and Key Metrics Changes - Internal and external plasma collection volumes reached new highs, positioning the company well for ongoing commercial expansion [12] - The company anticipates significant margin expansion and revenue growth driven by the enhanced yield production process and strong demand indicators [10][21] Company Strategy and Development Direction - The company is focused on advancing key growth initiatives, enhancing supply chain infrastructure, and solidifying its leadership position in the specialty biologics market [7][10] - A new $300 million senior secured credit facility was executed to lower borrowing costs and enhance liquidity, supporting long-term strategic growth initiatives [10][19] - The acquisition of a facility near the Boca Raton campus is expected to provide additional operational flexibility and support growth through expanded cold storage and manufacturing space [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to accelerate revenue and earnings growth rates in the latter half of 2025, supported by strong demand and improved manufacturing efficiencies [22][24] - The company reaffirmed its financial guidance for 2025, expecting total revenue of $500 million or more and adjusted EBITDA of at least $235 million [21][22] Other Important Information - The company activated a $500 million share repurchase program, repurchasing approximately $15 million of common stock during the second quarter [12][19] - The company is progressing with its R&D pipeline, including studies on a new product, SG-one, which could represent a significant revenue opportunity [13][14] Q&A Session Summary Question: Changes in trends for Ascentive utilization - Management noted that the trends for Ascentive utilization remain strong, with new patient starts and physicians continuing to switch patients from standard IG therapies to Ascentive [28][29] Question: Details on the yield enhancement process - The yield enhancement process involves purifying waste streams to recover IgG that was previously lost, resulting in a 20% increase in bulk IG yield [30][31] Question: Overview of reaffirmed guidance and outlook - Management indicated that the guidance remains conservative, with expectations for accelerating growth in the latter half of 2025 due to improved inventory and manufacturing processes [39][40] Question: Cost-benefit analysis for hospitals using Ascentive - Management highlighted that patients switched to Ascentive experience fewer hospitalizations and improved quality of life, providing a strong value proposition [50][51] Question: Initiatives to expand physician use of Ascentive - Management mentioned ongoing efforts to educate physicians and alleviate reimbursement hurdles, with positive feedback from new clinics [60][61] Question: Gross margin improvement expectations - Management stated that there are currently no headwinds to gross margins, with expectations for continued margin accretion driven by yield enhancement and product mix [66][67] Question: Timeline for capacity expansion from the new facility - Management indicated that while immediate capacity expansion is not planned, the new facility will support future growth and scalability [70][72]

Financial Data and Key Metrics Changes - In Q2 2025, the company reported net product revenues of $81.5 million, representing a 28% quarter-on-quarter growth and a 164% increase compared to Q2 2024 [6][43]. - The net loss for the quarter decreased by $36.4 million compared to the same period last year, indicating improved operating results [45]. - Cash and marketable securities stood at $191.1 million as of June 30, 2025, with a slight positive cash flow from operating activities of $325,000 [46]. Business Line Data and Key Metrics Changes - The XEREVE franchise saw strong sales growth, with TRx volume increasing for all products, driven by the adoption of XEREVE for treating inflammatory dermatoses [6][19]. - The volume of XEREVE prescriptions reached a record high of 16,000 weekly scripts, reflecting a year-over-year increase of 117% [19]. - The company anticipates steady sales growth driven by new indication launches and increased contributions from the primary care and pediatric channels [18]. Market Data and Key Metrics Changes - The branded non-steroidal volume grew by 40% year-over-year, while topical steroid volume remained flat, indicating a shift in prescriber preferences [20]. - Approximately 80% of all prescriptions for XEREVE are being reimbursed, contributing to revenue growth [25]. - The company is actively engaged in negotiations with Medicare Part D plans to expand access for patients [25]. Company Strategy and Development Direction - The company plans to leverage its development and commercialization capabilities to address unmet needs in immune-mediated dermatologic diseases [5]. - Future growth will be driven by effective lifecycle management of the XEREVE franchise and potential label expansions for pediatric atopic dermatitis [11][33]. - The company is committed to generating positive free cash flow and reaching cash flow breakeven by 2026 [12][43]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of XEREVE, citing the ongoing conversion from topical steroids as a sustainable growth driver [10]. - The company acknowledged the potential challenges posed by seasonality affecting prescription topical products, anticipating a moderation in growth in Q3 before a return to robust growth in Q4 [18][21]. - Management emphasized a disciplined approach to capital allocation and a focus on data-driven decisions for pipeline management [12][43]. Other Important Information - The company received FDA approval for XEREVE foam 0.3% for the treatment of plaque psoriasis, which is expected to drive incremental demand [21]. - The decision to halt the development of ARQ255 was made following the Phase 1b trial results, reflecting a commitment to focus on high-potential programs [40]. Q&A Session Summary Question: Revenue progression from Q2 to Q3 - Management indicated that while sequential growth is expected in Q3, it will be slightly moderated due to seasonality, but they remain optimistic about sustained momentum [51][57]. Question: Opportunities beyond current indications - Management highlighted the broad applicability of XEREVE across various diseases and emphasized a rigorous approach to selecting new indications based on market size and clinical improvement [52][53]. Question: Early utilization of the national pharmacy and COA partnership - Management noted that early signals from the national pharmacy launch are positive, and efforts are ongoing to educate primary care physicians about ZAREVE [60][62]. Question: Gross to net dynamics and future script growth - Management confirmed that gross to net rates remain stable and expect script growth to be the main driver for sales for the remainder of 2025 [66][68]. Question: Pediatric opportunity in atopic dermatitis - Management expressed excitement about the upcoming approval for ZERIPREME for children aged two to five, highlighting the significant unmet need in this age group [82][84]. Question: Update on Patagus litigation - Management stated that the litigation stay remains in place, and periodic updates are being provided to the court, although the details are confidential [88][89].