Financial Performance - Q2 2025 net sales were $311.6 million, a decrease of 0.6% year-over-year[6, 22] - Gross profit margin was 26.6%, a decrease of 950 bps year-over-year[6] - Non-GAAP adjusted EBITDA was $46.6 million, with a margin of 14.9%, a decrease of 43.1% year-over-year[6, 22] - Non-GAAP adjusted diluted EPS was $0.22, a decrease of 64.5% year-over-year[6, 22] Segment Performance - AAON Oklahoma net sales declined by 18.0% to $185.1 million, with a gross margin of 27.5%[23, 29] - AAON Coil Products net sales increased by 86.4% to $58.5 million, with a gross margin of 22.0%[23, 32, 33] - BASX net sales increased by 20.4% to $68.0 million, with a gross margin of 27.9%[23, 36, 37] Backlog and Orders - Adjusted backlog was $1.12 billion[6] - AAON-branded backlog increased by 93.4% year-over-year and 22.4% quarter-over-quarter[14] - BASX-branded backlog increased by 58.0% year-over-year to $623.4 million[43] Balance Sheet - The company closed on a new $500.0 million credit facility in Q2[42] - The company repurchased $30.0 million of shares[42] - Expect capital expenditures of approximately $220.0 million in 2025[42] Revised Outlook - The company revised its 2025 sales growth outlook to low-teens[45] - The company revised its 2025 gross margin outlook to 28%-29%[45] - The company revised its 2025 adjusted SG&A as a percentage of sales outlook to 16.5%-17.0%[45]

Financial Performance - Green Plains reported a net loss attributable to the company of $(72.2) million, or EPS of $(1.09) per diluted share for the second quarter of 2025[8, 13] - Adjusted EBITDA was $16.4 million for the second quarter of 2025[8] compared to $5.0 million for the same period in 2024[20] - The company had cash and cash equivalents, and restricted cash of $152.7 million and $258.5 million available under a committed credit facility[8] - Consolidated ethanol crush margin was $26.3 million, inclusive of margins from a one-time sale of accumulated RINs of $22.6 million[8] compared to $22.7 million for the same period in 2024[11] - Revenues were $552.8 million compared to $618.8 million for the same period in 2024[13] Operational Highlights - Ethanol production reached 193.6 million gallons, operating at 99% of capacity (excluding Fairmont)[8] compared to 208.483 million gallons for the same period in 2024[10] - The company produced 413 thousand tons of distillers grains (dry equivalent)[8] compared to 463 thousand tons for the same period in 2024[10] - Renewable corn oil production was 65.2 million pounds[8] compared to 73.630 million pounds for the same period in 2024[10] - The company processed 65.3 million bushels of corn[8] compared to 71.819 million bushels for the same period in 2024[10] Strategic Initiatives - The carbon capture infrastructure project is progressing on track for start-up early in the fourth quarter of 2025, with an expected removal of ~1.7 million metric tons of CO2 from the atmosphere by 2027[9, 22] - The company completed the sale of its 50% investment in GP Turnkey Tharaldson LLC as of June 30, 2025, for $25 million[9] - An amendment was executed to extend the maturity of its $127.5 million Mezzanine note facility to September 15, 2026[9]

Financial Performance - The company reported GAAP net income attributable to common stockholders of $005 per share for Q2 2025[9] - Distributable Earnings for Q2 2025 were also $005 per share of common stock[9] - A cash dividend of $006 per share of common stock was declared for the quarter[9] - Book Value Per Share of Common Stock was $327 as of June 30, 2025[9] Portfolio Composition and Activity - As of June 30, 2025, the company's loan portfolio totaled $924 million[9] - Approximately 906% of the loan portfolio was collateralized by multifamily assets[9] - The company experienced $634 million in loan payoffs and $36 million in loan fundings during the quarter[9] - The carrying value of the floating-rate CRE loan portfolio was $905 million as of June 30, 2025[20] Capital Structure - The company held $594 million in cash and cash equivalents as of June 30, 2025[9] - The company's leverage ratio decreased from 36x to 33x quarter-over-quarter[9] - Secured financings comprised 718% of the capital structure[32]

Financial Performance - The company's net income for 2Q 2025 was $208 million[40] - Adjusted net income for 2Q 2025 reached $468 million[40] - Adjusted EBITDA for 2Q 2025 amounted to $1071 million[40] - The company is raising its full year 2025 adjusted EBITDA guidance to $420 million - $440 million[51] Jamaica Acquisition & Growth - The company acquired an integrated LNG and power platform in Jamaica[23] - The company anticipates $200 million - $400 million in growth capital allocated to infrastructure expansion in Jamaica and the Caribbean[30] - The company projects $80 million - $110 million in annual incremental EBITDA from asset optimization and infrastructure expansion in Jamaica and the Caribbean by 2030[30] Terminal Services & Assets - The company commenced regasification operations at the Wilhelmshaven LNG Terminal in May 2025[32] - The company finalized the purchase of an LNG carrier in July 2025[33] - The company has $426 million in cash and cash equivalents as of June 30, 2025[60]

Financial Performance - Net sales for Q2 2025 were $143.6 million, a 20% increase year-over-year[18] - Adjusted EBITDA for Q2 2025 increased by $42 million, or 514%, year-over-year, reaching $122 million[18] - New orders increased by 28% year-over-year, totaling $1758 million[19] - Backlog increased by 81% year-over-year, reaching $2699 million[19] - The company updated its 2025 guidance with net sales expected to be between $535 million and $555 million, adjusted EBITDA between $40 million and $44 million, and free cash flow between $15 million and $25 million[19] Segment Performance - Infrastructure Solutions net sales increased by 224% in Q2 2025[37] - Rail, Technologies, and Services net sales decreased by 112% in Q2 2025[31] - Precast Concrete sales improved 360%[40] - Protective Coatings improved 474%[40] Capital Management - Net debt decreased by $66 million year-over-year to $774 million[18] - The company repurchased 108,020 shares of common stock for $22 million, representing approximately 10% of outstanding shares[18]

Q2 2025 Financial Performance - The company's Q2 2025 revenue reached $103 million[39] - Adjusted EBITDA was $7.1 million with a 7% margin[39] - Contribution ex-TAC margin was 46%[39] - Non-GAAP net income was $12 million, resulting in a diluted non-GAAP EPS of $0.26[39] - Cash flow from operations amounted to $21.3 million[39] Growth & Channel Performance - DOOH revenue increased by 35% year-over-year[36, 54], reaching $17.6 million[54] - Retail Media revenue increased by 27% year-over-year[36, 46] - Web revenue increased by 5% year-over-year[22, 54], reaching $53.1 million[54] - CTV revenue decreased by 5% year-over-year[36, 43], reaching $9.7 million[54] - Search revenue decreased by 35% year-over-year[54], reaching $22.4 million[54] Strategic Initiatives & Outlook - The company reiterates its FY2025 revenue guidance of $430 million to $450 million[37, 81] - The company expects an Adjusted EBITDA margin of 10% and an Adjusted EBITDA/Contribution ex-TAC margin of 22% for FY2025[81]

Financial Performance - Total revenue reached $25.7 million[2], compared to $28.4 million in Q2'24[2], a decrease of approximately 9.5% - Non-GAAP earnings per share were 7 cents[2], down from 17 cents in Q2'24[2] - GAAP earnings per share were a loss of 15 cents[2], compared to a loss of 1 cent in Q2'24[2] - Licensing and related royalties revenue was $15 million[4] in Q2'25, compared to $17.3 million[4] in Q2'24, a decrease of approximately 13% - Non-GAAP operating income was $1.8 million[4] in Q2'25, compared to $4.4 million[4] in Q2'24, a decrease of approximately 59% - Non-GAAP net income was $0.8 million[4] in Q2'25, compared to $4.2 million[4] in Q2'24, a decrease of approximately 81% Business Highlights - The company signed four new NPU agreements during the quarter[1] - The company returned $6.2 million to shareholders via stock repurchase of 300,000 shares[9] Shipment Data - Total units shipped reached 488 million[8], including 55 million smartphones[8] and 433 million smart edge devices (excluding smartphones)[8] - Smart Edge shipments include 254 million Bluetooth units[8], 62 million Wi-Fi units[8], and 66 million Cellular IoT units[8] Financial Stability - The company has $157 million in cash, cash equivalents, marketable securities, and bank deposits at the end of Q2, and is debt free[9]

Financial Performance - Total revenue increased by 38% year-over-year to $104.1 million[17] - Adjusted EBITDA increased by 58% year-over-year to $21.6 million[17] - Adjusted EBITDA gross margins increased from 64% to 67% year-over-year[17] - Service revenue grew sequentially by 6% and now represents 83% of total revenue[17, 56] - Net debt to EBITDA ratio improved to 2.97x compared to 3.17x in the prior quarter[17] Go-to-Market Momentum - New logo wins increased sequentially by 14% QoQ, with over 175 B2B customers[18] - AI video ARR bookings increased by 52% compared to the previous quarter, driven by indirect channel partners[18] - In-warehouse recurring revenue increased by 24% year-over-year[19] - ARR pipeline build increased by 19% compared to the prior quarter[19] Key Wins and Partnerships - Secured strategic deals with TCV ranging from $400K+ to $750K+ with companies in logistics, food & beverage, rental & leasing, agriculture, and manufacturing[21] - Partnered with MTN Business, one of the world's largest mobile network operators with $7.4 billion annual revenue and 297 million customers, to accelerate enterprise IoT adoption[22, 23] - Won a large-scale operation-wide deployment with SIXT Rental, focusing on AI-powered control over costs, productivity, and accountability[24, 25] Transformation Initiatives - Actioned $11 million in annualized savings in Q1 FY26, part of the $18 million committed for FY26[68, 70] - Expects Net Debt to EBITDA to improve from ~3.25 times at year end FY25 to less than 2.25 times at year end FY26[63, 64]

Business Overview - Kymera Therapeutics is developing oral degraders with a biologics-like profile to disrupt the immunology market[16] - The company aims to deliver a total of 10 new investigational degrader drugs into the clinic by 2026[12] - Kymera has approximately $1 billion in cash and equivalents, providing a runway into the second half of 2028[15] - The company has dosed over 400 healthy volunteers/patients to date across its clinical pipeline[15] KT-621 (STAT6 degrader) - Phase 1 healthy volunteer trial achieved >90% STAT6 degradation in blood and skin[20] - Single doses of KT-621 achieved >95% mean STAT6 degradation at doses of 75 mg or greater[26] - Multiple daily doses of KT-621 achieved complete STAT6 degradation in blood and skin at doses of ≥50 mg[30, 31] - KT-621 showed robust inhibition of TARC and Eotaxin-3 biomarkers, comparable/superior to published dupilumab data[32] - Phase 1b trial in Atopic Dermatitis (AD) patients is ongoing, with data expected in Q4 2025[37, 38] KT-579 (IRF5 degrader) - KT-579 is a potential first-in-class, potent, selective, oral IRF5 degrader[40, 41] - Phase 1 trial is expected to start in early 2026[43] Financials - Collaboration revenue for the three months ended June 30, 2025 was $25650 thousand, compared to $33576 thousand for the six months ended June 30, 2025[44] - Research and development expenses for the three months ended June 30, 2025 were $78388 thousand, compared to $158643 thousand for the six months ended June 30, 2025[44]

Q2 FY25 Financial Highlights - Revenue reached $299 million, representing a 27% year-over-year growth[5] - The company saw a 36% year-over-year increase in customers with ARR (Annual Recurring Revenue) exceeding $50,000, totaling 3,702 customers[5] - Net dollar retention rate for customers with ARR over $50,000 was 116%[5] - Gross margin stood strong at 90%[5] - Adjusted free cash flow was $64 million, which is 21% of the revenue[5] Customer Base Growth - Total customers increased to 245,000 in FY24[16], reflecting a 22% CAGR (Compound Annual Growth Rate) from 2019 to 2024[17, 18] - Customers with ARR over $50,000 grew by 36% year-over-year[25] - Customers with ARR exceeding $100,000 also increased, showing a 46% year-over-year growth[25] Revenue and ARR Trends - The trend shows an increasing percentage of total ARR coming from larger customers, with those having over $100,000 ARR accounting for 38% of the total[28] - Customers with over $50,000 ARR contribute 26% to the total ARR[28] - Customers with more than 10 users account for 80% of the total ARR[28] Financial Performance - The company has demonstrated consistent incremental revenue growth, as shown by the increase from $161 million in FY20 to $972 million in FY24[35] - The annual revenue shows a CAGR of 57% from 2020 to 2024[35] - Adjusted free cash flow for Q2 2025 was $641 million, representing 21% of revenue[5, 47]