Equitable (EQH) 2025 Conference June 11, 2025 11:25 AM ET Speaker0 There you go. Okay. Alright. Good morning, everybody. Before we get started, for important disclosures, please see the Morgan Stanley research disclosure websites at www.morganstanley.com/researchdisclosure. Taking photographs and use of recording devices is also not allowed. If you have any questions, please reach out to your Morgan Stanley sales representative. So with that out of the way, so we're privileged to have Robin Roger, the CFO o ...

Summary of 4D Molecular Therapeutics (FDMT) FY Conference Call Company Overview - **Company**: 4D Molecular Therapeutics (FDMT) - **Focus**: Gene therapy with a focus on ophthalmology and pulmonology, specifically targeting conditions like wet age-related macular degeneration (AMD), diabetic macular edema (DME), and cystic fibrosis. Key Points Industry and Market Opportunities - **Gene Therapy Potential**: The company believes it has developed best-in-class vectors for various delivery methods, which opens up large sustainable markets in gene therapy [1][2] - **Market Size**: The potential market opportunities are significant, with estimates of 4,150 million for wet AMD and DME, and 4,710 million for cystic fibrosis lung disease [1] Clinical Development and Trials - **Phase III Trials**: The focus for the next twelve months is on executing Phase III trials for FORWARD I and FORWARD II in wet AMD and initial dose data for cystic fibrosis [2] - **Physician Feedback**: Positive feedback from physicians regarding the durability of treatments and reduced injection burden, with expectations of an 80-90% reduction compared to existing therapies [6][7] - **Safety Profile**: The company reports a strong safety profile with no inflammation observed in DME trials, which is critical for large markets like wet AMD and DME [9][10] Commercial Strategy - **Pricing Flexibility**: The cost of goods for treatments is around $500, allowing for competitive pricing strategies that can benefit patients and shareholders [26] - **Durability Demand**: Surveys indicate that durability and extended treatment duration are the top desires for both patients and physicians, positioning gene therapy as a leading option [22] Regulatory and Financial Position - **Regulatory Engagement**: Ongoing discussions with the FDA regarding potential accelerated approval pathways for cystic fibrosis treatments, especially for patients with no available therapies [41][43] - **Financial Health**: The company ended Q1 with $458 million in cash, primarily allocated to fund Phase III trials for wet AMD, with a runway extending into 2028 [51] Future Directions - **Partnership Opportunities**: The company is open to partnerships outside the U.S. for its products, particularly in the lung franchise, while retaining U.S. rights for ophthalmology [48][49] - **Platform Development**: The gene therapy platform has shown broad utility, with six open INDs and a focus on developing a portfolio of products efficiently [45][54] Additional Insights - **Market Differentiation**: The company emphasizes that not all gene therapies are the same, highlighting its unique approach to local application and cost management, which differentiates it from other programs in the field [56] This summary encapsulates the key insights and strategic directions discussed during the conference call, providing a comprehensive overview of 4D Molecular Therapeutics' current status and future outlook in the gene therapy market.

Lear (LEA) 2025 Conference June 11, 2025 11:15 AM ET Speaker0 Cool. Yes, why don't we kick off the next fireside chat. Very excited to host our next group, which is Leer, leading supplier of seating and electronics as you probably know. Really has stood out, think over the last year for their ability Pretty impressive job last year taking significant margin from performance. And today we're here with Jason Cardo, the CFO, VP of Finance, Jared Fidelli. Maybe to kick it off, why don't we just start with any o ...

Sandisk (SNDK) 2025 Conference June 11, 2025 11:15 AM ET Speaker0 Everybody, thank you for joining us on day two of the Mizuho Tech Conference. Joining me today I'm Vijay Rakesh, senior semis analyst at Mizuho, and joining me today is David Geklev. David is chairman and CEO of Sandisk Corporation. With over twenty five years of transformational leadership across semis, global networking, enterprise software, David has established himself as one of the industry's most visionary executives. David is also inst ...

Adient (ADNT) 2025 Conference June 11, 2025 11:10 AM ET Speaker0 Lively Speaker1 room. We're gonna play some music, pump it up. Yeah. I guess so. All right. Let's begin, shall we? Very pleased to welcome Adient to the Global Auto Conference joined here by the President and CEO Jerome Dorlak and CFO Mark Alswell. Thank you for joining us. Adient, for those of you are not familiar, is a leading global auto supplier with top market share positions in most regions. And to kick off, I think Jerome would like to ...

Cisco Systems (CSCO) Update / Briefing June 11, 2025 11:00 AM ET Speaker0 Well, good morning, everybody, from San Diego. We want to welcome you all back to your streaming broadcast coming to you directly from the world of solutions here at Cisco Live twenty twenty five. So exciting. I'm Steve Moulter. On behalf of the entire Cisco TV team, we are really delighted to have you with us today. You know, from the moment this event kicked off, we have been experiencing the story of all of the unique, all of the d ...

Affirm (AFRM) Conference Call Summary Company Overview - Affirm is a point of sale finance company specializing in buy now, pay later (BNPL) transactions and transaction processing, primarily in the U.S. market [4][5] - Key partners include Amazon and Shopify, with recent expansion into the U.K. market [5] - The company has demonstrated strong growth, with top-line growth in the mid-twenty percent range and customer growth exceeding 20% [5][6] Financial Performance - Affirm reported a strong third fiscal quarter, with active consumer base growth exceeding 20% and active merchants also growing by more than 20% [9][10] - Gross Merchandise Volume (GMV) grew by 36%, surpassing the previous year's performance [11] - Revenue growth aligned with GMV, with transaction profit growing over 50% and adjusted operating income margin at approximately 22%, reflecting a nine-point year-over-year margin expansion [12][13] - Affirm card, a direct-to-consumer offering, reached 1.9 million active cardholders, contributing to 9% of GMV with over 100% growth in the quarter [14][15] Market Dynamics - The BNPL category is growing at approximately 25%, with Affirm outpacing this growth [12] - Strong growth was observed across various categories, particularly in general merchandise and consumer electronics [16] - Monthly 0% installment loans saw a 44% growth, distinguishing Affirm's product offering from competitors [18][19] Customer Acquisition and Engagement - Most customer acquisition is driven by merchant partnerships, with a focus on e-commerce visibility [24] - New customer cohorts are transacting more frequently, with an average of over 5.5 transactions per user per year [26] - Affirm is gaining market share from credit cards, with a significant addressable market of $1.2 trillion in revolving credit card debt in the U.S. [29][30] Competitive Landscape - The market remains competitive, particularly in the pay-in-four product segment, where competitors dominate [33] - Affirm's adaptive checkout product allows for a mix of loan options tailored to merchant needs, enhancing competitiveness [34][35] - Klarna is noted as a key competitor, with Affirm actively engaging in the market despite their presence [36][37] Consumer Trends - Consumer spending has shown resilience, with GMV growth reaching 40% in March, attributed to effective product offerings [39][40] - Delinquencies remain in line with historical expectations, indicating strong credit performance despite increased demand [41][42] - Growth has been broad-based across categories, with the exception of sporting goods [43] Funding and Regulatory Environment - Affirm's average loan term is about 12 months, with a weighted average life of 5 months, making it less sensitive to interest rate changes [44][46] - The company has a robust funding capacity of $23 billion, with only 59% utilized, indicating strong growth potential [48][49] - Regulatory changes under the new U.S. administration are monitored, but Affirm's business model remains aligned with consumer-friendly practices [52][53] Future Growth Opportunities - Affirm is exploring in-store commerce opportunities through wallet partnerships and the Affirm card [66] - Expansion plans include entering the U.K. and other European markets, as well as Australia [68] Conclusion - Affirm continues to demonstrate strong growth and market leadership in the BNPL space, with a focus on consumer-friendly products and strategic partnerships. The company is well-positioned for future expansion and profitability.

CRA International (CRAI) Conference June 11, 2025 10:45 AM ET Speaker0 Hey. Good morning, everyone. It's now 10:45 here on the East Coast, and we're ready to begin with our next presentation. My name is Mark Riddick. I'm a senior analyst with Sidoti and Company, and I thank you for joining us at the Sidoti June Small Cap Virtual Conference. Now our next presenting company is Charles River Associates, the ticker is CRAI. And joining us today is Paul Malley, June and CEO, and Chad Holmes, chief corporate deve ...

US Physical Therapy (USPH) FY Conference June 11, 2025 10:45 AM ET Speaker0 Okay. We're gonna go ahead and get started with the next presentation. off, thank you everyone for being here today. My name is Joe Noyans. I'm with Three Part Advisors. Up next, we have one of our investor relations clients, US Physical Therapy. US Physical Therapy is traded on the New York Stock Exchange under the symbol USPH. They're operating in 44 states across The US with nearly 800 locations. Also, they're a leader in in PT, ...

Structure Therapeutics (GPCR) FY Conference June 11, 2025 10:40 AM ET Speaker0 Following session is not open to the press. Speaker1 Perfect. Thanks, everyone, who's joining us here at the Goldman Sachs Annual Healthcare Conference. Thrilled to have Ray Stevens from Structured Therapeutics here to join us. Maybe you could just start with a quick overview of the business. I would love to kind of get started there, then we'll dig in. Speaker2 Absolutely, Corinne. So Structured Therapeutics is really built arou ...