Financial Performance & Growth - IMAX reported a 40% growth in global box office market share from 2018 through 1Q25[11] - The company's 1Q25 Total Adjusted EBITDA margin was 43%[11], exceeding the FY25 guidance of 40%+[96] - IMAX projects over $12 billion in IMAX Box Office revenue for 2025[36] - The company has repurchased 19% of shares outstanding since 2020[11, 124] Network Expansion & Backlog - IMAX's global network scale includes 1,738 systems[11] across 89 countries and territories[11, 38] - The company has a contracted IMAX system backlog of 516 systems[11, 42] - International markets (excluding China) have seen over 27% network growth since pre-pandemic (year-end 2019 to March 31, 2025)[14] Content & Strategy - IMAX is increasing its connection with studios and filmmakers, expecting a record 11 Filmed For IMAX (FFI) Hollywood titles in 2025[11] - The company expects over 60 local language titles in 2025, demonstrating a 27% CAGR from 2019-2024[86, 87] - IMAX is partnering with streaming platforms to eventize and launch content[75] Financial Position - As of March 31, 2025, IMAX has $4015 million in total liquidity[117] - The company's net debt to TTM Total Adjusted EBITDA is 128x[119]

Contract Status Overview - The report provides an overview of Seadrill Limited's fleet contract status as of May 12, 2025 [1] - The fleet includes drillships, benign semi-submersibles, and harsh environment rigs [9, 10] - The report contains forward-looking statements subject to risks and uncertainties [2, 3] Drillship and Semi-Submersible Contracts - West Auriga has a contract with Petrobras in Brazil, with a total contract value at signing of approximately $577 million, including mobilization and additional services [9] - West Carina is contracted with Petrobras in Brazil at a dayrate of $252,600 [9] - West Jupiter has a contract with Petrobras in Brazil, with a total contract value at signing of approximately $525 million, including mobilization and additional services [9] - West Polaris has a contract with Petrobras in Brazil, with a total contract value at signing of approximately $518 million, including mobilization and additional services [9] - West Tellus has a contract with Petrobras in Brazil, with a total contract value at signing of approximately $539 million, including mobilization and additional services [10] - West Neptune has a contract with LLOG in the U.S Gulf, with a total contract value of approximately $86 million, excluding additional services, for an approximate 180-day duration [9] - West Gemini is contracted with TotalEnergies in Angola at a dayrate of $404,800 [9] Harsh Environment Rigs - West Elara is contracted with ConocoPhillips in Norway until March 2028 at a market-indexed rate [10]

Financial Performance & Growth - MIND Technology achieved revenue of $46863 thousand in FY25, compared to $36510 thousand in FY24 and $25012 thousand in FY23[16] - Gross profit increased to $20967 thousand in FY25 from $15971 thousand in FY24 and $9950 thousand in FY23[16] - The company reported operating income of $6818 thousand in FY25, a significant improvement from $518 thousand in FY24 and a loss of ($5650) thousand in FY23[16] - Adjusted EBITDA reached $8237 thousand in FY25, up from $2311 thousand in FY24 and a loss of ($3392) thousand in FY23[16] Backlog & Order Flow - The company's firm backlog was $211 million as of April 30, 2025[20] - The company's backlog was $384 million at the end of FY24, compared to $157 million at the end of FY23 and $93 million at the end of FY22[19] Market & Industry - Global spending on exploration, excluding appraisal, is projected to average $22 billion per year over the next five years[11] - Global capital expenditure on subsea facilities is expected to grow at a compound annual growth rate of 10% from 2024 to 2027[12] Strategic Initiatives - MIND Technology eliminated outstanding debt and recapitalized by converting all preferred stock to common stock[14] - The company sold its Klein Sonar Unit in August 2023 and streamlined management and corporate operations[13] - Approximately 71% of revenue in FY1Q26 is from recurring after-market (spares, etc), historically around 40%[38]

Financial Performance & Growth - MIND Technology's revenue increased significantly from $25.012 million in FY23 to $46.863 million in FY25[16], representing an 87.36% increase over two years - Gross profit also saw substantial growth, rising from $9.950 million in FY23 to $20.967 million in FY25[16], a 110.72% increase - The company achieved a turnaround in operating income, moving from a loss of $5.650 million in FY23 to a profit of $6.818 million in FY25[16] - Adjusted EBITDA improved from a loss of $3.392 million in FY23 to $8.237 million in FY25[16] - The company's backlog as of April 30, 2025, was $21.1 million[20] Strategic Initiatives & Market Position - MIND Technology sold its Klein Sonar Unit in August 2023 and streamlined management and corporate operations[13] - The company eliminated outstanding debt and recapitalized by converting all preferred stock to common stock[14] - Approximately 71% of revenue in FY1Q26 came from recurring after-market (spares, etc)[38], compared to a historical average of ~40%[38] - Global spending on exploration, excluding appraisal, should average $22 billion per year in real terms over the next five years[11] - Global capital expenditure on subsea facilities is set for a 10% compound annual growth rate from 2024 to 2027[12]

Forward-Looking Statements - The document contains forward-looking statements based on expectations and assumptions that may not be accurate [3] - These statements are subject to risks, uncertainties, and changes in circumstances that are difficult to predict [3] - The company assumes no obligation to update or revise any forward-looking statement [4] Risk Factors - General economic and industry conditions, including regulatory changes, can impact results [3] - Reliance on commercial airline customers poses a risk [3] - The health of the aircraft production system, production quality issues, and the ability to develop and certify new aircraft are critical [3] - Changing government budget levels and acquisition priorities can cause delays [3] - Dependence on subcontractors and suppliers, as well as the availability of skilled labor and raw materials, is a factor [3] - The pending acquisition of Spirit AeroSystems Holdings, Inc, including the satisfaction of closing conditions, is a risk [3]

Financial Performance - GenScript Life Science revenue increased by 26.4% year-over-year[20] - Biologics CDMO revenue increased by 33.6% year-over-year, achieving historical breakeven financial goal[20] - Cell Therapy revenue increased by 101.5% year-over-year, with backlog up 108.4% year-over-year[21] - In FY21, external revenue reached $424.7 million, a 30.8% year-over-year increase[23] - Adjusted net loss of Cell Therapy was $(354.6) million in 2021 compared to $(213.3) million in 2020[23] - Adjusted net profit of Non-Cell Therapy was $50.2 million in 2021, an 18.1% year-over-year increase[23] Investments - R&D expenses for Non-Cell Therapy were $36.3 million and for Cell Therapy were $49.9 million in 2021[25], representing a 36.1% year-over-year increase in total R&D investment[24] - Capital expenditure for Cell Therapy was $47.1 million, for Biologics CDMO was $34.5 million, and for Life Science & Other was $55.8 million in 2021[28] Business Segments - Legend Biotech, a cell therapy company, received an upfront payment of $350 million and $300 million in milestone payments from Janssen[61]

Company Overview - Antengene is focused on bringing transformative medicines to patients globally, with commercialization in 6 APAC markets and 9 clinical-stage assets[12, 13] - The company raised US$21 million in Series A, US$120 million in Series B, US$97 million in Series C, and US$367 million in its Hong Kong IPO[21] - As of June 30, 2023, Antengene had RMB 1,322 million in cash and bank balances[21, 225] Pipeline Highlights - For CPI-naïve relapsed/metastatic cervical cancer, ATG-008 (Onatasertib) showed an ORR of 53.3% (16/30) and mPFS of 8.41 months[15] - In CPI-treated relapsed/metastatic cervical cancer, ATG-008 (Onatasertib) showed an ORR of 29.4% (5/17)[15] - In treatment-naïve myelofibrosis patients, Selinexor 60 mg + Ruxolitinib achieved SVR35 of 83.3% (10/12) at week 12 and 91.7% (11/12) at week 24 in efficacy evaluable patients[30] - In TP53 Wild-type Endometrial Cancer Patients, Selinexor monotherapy showed mPFS of 27.4 months compared to 5.2 months for placebo, with HR: 0.42[32] Commercial Performance & Partnerships - XPOVIO® achieved RMB 72.0 million in revenue in 2023 1H, a 33.5% increase compared to RMB 54.0 million in 2022 1H[15] - Antengene entered into a commercialization partnership with Hansoh Pharma in the Mainland of China on August 11th[15] - XPOVIO® has covered 130 DTP pharmacies across the Mainland of China and attained 46 urban-customized commercial health insurance listings (Huiminbao) covering over 55 million people[202] - From commercial launch in May 2022 to June 30th, 2023, XPOVIO® accumulated revenue of RMB 222.1 Million[202]

Antengene Pipeline Overview - Antengene is developing a diverse pipeline of oncology and autoimmune programs, including T cell engagers and other novel therapies[9, 10] - The company has partnerships and clinical collaborations to advance its programs[10] - Antengene has USD 125 million in cash and bank balances to advance pipeline development and strategic initiatives over the next 3 years[11] ATG-022 (Claudin 18.2 ADC) - ATG-022 demonstrates efficacy across all CLDN18.2 expression levels in gastric cancer, including low and ultra-low expressors[15, 23, 29] - In CLDN18.2 moderate to high expressing GC (IHC 2+ > 20%), ATG-022 showed an ORR of 40% (12/30) and a DCR of 90% (27/30)[10, 31] - In CLDN18.2 low and ultra-low expressing GC (IHC 2+ ≤ 20%), ATG-022 showed an ORR of 30% (3/10) and a DCR of 50% (5/10)[10, 31] - One patient with complete response (CR) has demonstrated durable CR for over 21 months[32] ATG-037 (CD73 Inhibitor) - The immuno-oncology (IO) market is estimated to be over USD 140 billion in 2028, including IO-resistant tumors[44] - In CPI-resistant melanoma, ATG-037 in combination with pembrolizumab showed an ORR of 36.4% (4/11) and a DCR of 100% (11/11)[10] - In CPI-resistant NSCLC, ATG-037 in combination with pembrolizumab showed an ORR of 22.2% (2/9) and a DCR of 67% (6/9)[10] AnTenGager T Cell Engager (TCE) Platform - AnTenGager is a novel second-generation "2+1" TCE platform with steric hindrance-masking technology[65] - ATG-201 (CD19 x CD3) is a TCE being developed for B cell-related autoimmune diseases, with IND targeting 2025 H2[10, 83]

Operational Highlights - Iris Energy has expanded its operating capacity to 5.5 EH/s, completing the expansion in 12 weeks[11, 12] - The company is undertaking an expansion to 6.5 EH/s, representing an 18% growth in operating capacity, which is fully funded[15, 16] - The company's current operating capacity of 5.5 EH/s is delivering approximately $7.5 million in monthly mining profit[14] Financial Position - Iris Energy reports a robust balance sheet with $54.8 million in cash and no debt[14, 21] - An additional $35 million in incremental capital expenditure is planned, assuming the latest generation Bitmain S19 XP miners[21] - The company has sold 4,495,442 ordinary shares, generating $14.3 million in net proceeds, under a committed equity facility[17] Childress Site Development - The Childress site has a total power capacity of 600MW, with the initial 20MW commissioned and the next 20MW underway[22, 25] - The Childress site utilizes a technology-driven approach to automatically integrate data across multiple sources to optimize power costs[39] Mining Profitability - At a Bitcoin price of $30,000, the current 5.5 EH/s capacity could generate $90 million in annualized mining profit, while the expanded 6.5 EH/s capacity could generate $110 million[41] Ownership and Coverage - Founders, board, and management own approximately 22% of Iris Energy, aligning interests[49, 50]

Company Overview - O'Reilly operates 6,152 stores in 48 states, 69 stores in Mexico, and 23 stores in Canada as of June 30, 2024 [15] - The company's last-twelve-months sales reached $163 billion as of June 30, 2024 [15] - O'Reilly's market capitalization was $66 billion as of July 31, 2024 [15] - The split between Do-It-Yourself (DIY) and Professional sales was 53% and 47% respectively for the year ended December 31, 2023 [15] Financial Performance & Guidance - O'Reilly reported a 28% comparable store sales increase year-to-date in 2024 [18] - The company's gross margin was 509% year-to-date in 2024 [18] - Operating margin reached 196% year-to-date in 2024 [18] - Diluted EPS was $1975, with a 3-year CAGR of 9% [18] - O'Reilly generated $12 billion of free cash flow and repurchased $106 billion under the share repurchase program year-to-date in 2024 [18] - The full-year 2024 guidance includes $166 - $169 billion in sales and $4075 - $4125 in diluted earnings per share [20, 116, 120] Strategic Investments & Expansion - O'Reilly expects $900 million - $1 billion in total capital expenditures for 2024 [43] - The company is undertaking distribution network expansion projects in Atlanta, GA, Lakeland, FL, and Stafford, VA [44] - O'Reilly plans to open 190-200 net new stores in 2024 [20, 116] - In Mexico, 7 new stores were opened in the first 6 months of 2024, bringing the total to 69, with 15-20 more expected by year-end [51] - O'Reilly acquired Groupe Del Vasto in Canada in January 2024, adding 2 distribution centers and 23 stores [56]