Financial Performance - The Joint Corp's Q2 2025 consolidated Adjusted EBITDA increased by 52% compared to Q2 2024[30, 34] - Q2 2025 comp sales increased by 14%[30] - Q2 2025 system-wide sales increased by 26%[30] - The company reported revenue of $133 million for the three months ended June 30, 2025, a 5% increase compared to $126 million for the same period in 2024[34] - Net loss from continuing operations decreased by 42%, from $17 million in Q2 2024 to $10 million in Q2 2025[34] - Consolidated net income was $01 million, a significant improvement from a net loss of $36 million in the same period last year[34] Clinic Network - Franchised clinics now represent 92% of the company's portfolio[32] - The company refranchised 37 clinics[15] - Total clinics open increased from 842 in 2024 to 885 in Q2 2025[33] 2025 Guidance - System-wide sales are projected to be between $530 million and $550 million[40] - Consolidated Adjusted EBITDA is expected to be between $108 million and $118 million[40] - The company anticipates opening 30 to 35 new franchised clinics, excluding the impact of refranchised clinics[40] Liquidity - The company's unrestricted cash balance as of June 30, 2025, was $298 million[36] - The company has access to a $20 million line of credit with JP Morgan Chase, available through February 2027[36, 38]

Financial Performance - Net income reached $26.0 million, a 75.9% increase compared to $14.8 million in 2Q24[7] - Core net income increased by 72.6% to $27.5 million from $15.9 million in 2Q24[7] - Portfolio net interest margin (NIM) increased to 3.82%, up 47 bps from 3.35% in 1Q25[7] - Diluted book value per share as of June 30, 2025, was $15.62, a 5.1% increase from $14.87 as of March 31, 2025[15] Loan Portfolio and Production - Loan production reached a record of $725.4 million in UPB, a 13.3% increase from 1Q25 and a 71.8% increase from 2Q24[7, 18] - The total loan portfolio was $5.9 billion in UPB as of June 30, 2025, a 30.8% increase from $4.5 billion in UPB as of June 30, 2024[7, 21] - The UPB of fair value option (FVO) loans was $3.6 billion, or 62.3% of total loans, as of June 30, 2025, an increase from 42.0% as of June 30, 2024[21] Capital and Financing - The company completed four securitizations totaling $985.5 million of securities issued[6] - The company collapsed and refinanced two securitizations totaling $68.0 million in debt outstanding, which released $53.5 million of capital[6] - Nonperforming loans (NPL) as a % of HFI loans decreased to 10.3%, down from 10.8% as of March 31, 2025[7]

Growth & Capacity Expansion - The company aims to reach 1 billion pounds of installed polypropylene recycling capacity by the end of 2029[6,9] - Thailand plant is expected to be operational in Q3 2027 with 130 million pounds capacity[9,11] - Antwerp plant is expected to be operational in Q3 2028 with 130 million pounds capacity[9,11] - Augusta Gen 2 Line 1 is expected to have 300 million+ pounds capacity and be operational in 2029[11] - A second Gen 2 line is planned for an unconfirmed location, also with 300 million+ pounds capacity, expected in 2029[11] Commercial Progress - A commercial agreement is in place with Emerald Carpets for approximately 5 million pounds of fiber sales[6,20] - The company is engaged in 17 post-trial negotiations representing approximately 80 million pounds of potential annual production volume[6] - The company has a strong pipeline with 26 active trials and 70 pending trials[6] Operational Achievements - Ironton facility achieved 87% onstream time in April/May and produced pellets for 65 consecutive days in Q2[6] - A rate test was successfully completed at 14,000 lbs/hr on August 1, nearing nameplate capacity[6] - The company is initiating a project to add approximately 100 million pounds of annual compounding capacity to Ironton[6,26] Financial Update - Approximately $300 million was raised from a perpetual preferred security in June[6] - Unrestricted cash increased from $22.5 million on March 31, 2025, to $284.1 million on June 30, 2025, a change of $261.6 million[30]

Financial Performance - The company's TTM revenue reached $2.533 billion[7] - TTM Free Cash Flow was $893 million[7] - TTM Non-GAAP gross margin was 83.1%[8] - TTM Non-GAAP operating margin was 39.0%[8] - Non-GAAP EPS Growth was 22.3%[8] User Base and ARPU - The company had 18.13 million paying users as of June 30, 2025[8, 9] - ARPU was $138.32[36] Financial Guidance - The company projects GAAP revenue of $622-$625 million for Q3 2025 and $2.490-$2.500 billion for fiscal year 2025[105] - The company anticipates a Non-GAAP operating margin of approximately 37.0% for Q3 2025 and approximately 39.0% for fiscal year 2025[105] - The company expects unlevered free cash flow to be at or above $970 million for fiscal year 2025[105] Capital Allocation - In Q2 2025, the company repurchased approximately 14 million shares for approximately $400 million[103] - As of June 30, 2025, the company had approximately $470 million available under the current Board authorization for share repurchases[104]

Financial Performance & Guidance - FiscalNote reaffirmed its FY2025 revenue guidance of $94 million to $100 million[58] - The company expects adjusted EBITDA for FY2025 to be between $10 million and $12 million[58] - Q2 2025 total revenue reached $233 million, exceeding guidance midpoint[65] - Q2 2025 adjusted EBITDA was $28 million, exceeding guidance[65] - Annual Recurring Revenue (ARR) for Q2 2025 was $859 million[65] Strategic Initiatives & Product Development - FiscalNote is shifting to a product-led growth strategy to improve key performance metrics[73] - The company launched PolicyNote, an AI-driven platform with global data and proprietary insights, in January 2025, and migration is ongoing[38] - Corporate new logo pipeline increased by 20% YoY, and corporate new logo pipeline up +45% vs 1Q25[46] - The company is focused on deleveraging its balance sheet and strengthening its capital structure to fund future growth[73] Market & Customer Dynamics - FiscalNote serves over 3,600 customers[22] - Subscription revenue accounts for 92% of total revenues[23] - The company monitors legislative and regulatory activity in over 100 countries[23]

Financial Performance & Growth - AvePoint's total Annual Recurring Revenue (ARR) reached $327 million in 2024, demonstrating a 23% Compound Annual Growth Rate (CAGR) from 2022 [35] - The company's Non-GAAP operating margin improved significantly to 144% in 2024, a 1560 basis points increase since 2022 [37] - As of Q2 2025, total ARR grew 27% year-over-year to $3676 million [82] - The company is aiming for $1 billion of ARR by 2029 [76, 78] Customer Base & Market - AvePoint has rapidly built a diverse customer base, reaching 25,178 total customers in 2024, reflecting a 21% CAGR from 2022 [27] - North America contributes 44% of the total ARR, with a 22% ARR CAGR [32] - The company operates in a large and growing addressable market, estimated at $813 billion in 2024 and projected to reach $140 billion by 2028, representing a 146% CAGR [21] Product & Strategy - AvePoint is positioned as a leading one-stop solution for data management, focusing on data security, governance, and protection [18, 19] - The company employs a platform-first strategy to maximize the interoperability of every solution [43] - The company's recurring revenue mix continues to grow, with SaaS revenue representing 73% of total revenue as of Q2 2025 [91]

Financial Performance - Revenue for Q2 2025 reached $113 million, a 14% year-over-year constant currency growth[9] - Adjusted EBITDA for Q2 2025 was $24.8 million, a 33% year-over-year growth[9] - The company raised FY25 revenue guidance to a range of $435 to $443 million, representing 12% to 14% year-over-year constant currency growth[12] - FY25 adjusted EBITDA is expected to be in the range of $86 to $91 million, growing 21% to 28% over FY24[12] - The company effectively retired convertible senior notes due July 1, 2025, reducing net debt leverage to 2.2x EBITDA[13] Product & Geographic Growth - On-X product revenue grew 24% year-over-year in constant currency[10] - Aortic stent grafts revenue increased by 22% year-over-year in constant currency[10] - North America revenue grew by 18%, EMEA by 10%, APAC by 15%, and Latin America by 7% in constant currency[17] Clinical Studies & Approvals - The company received IDE approval from the U S FDA to initiate the Arcevo LSA pivotal trial, planning to enroll 132 patients[11] - Initial U S AMDS launch shows positive momentum with sequential sales growth expected each quarter in 2025 and PMA approval expected mid-2026[11] - AMDS use significantly lowers 30-day Major Adverse Events (MAEs) compared to hemiarch control group[21]

Financial Performance & Guidance - The company's 2024 revenue grew by 9% year-over-year[45] - The company's revenue Compound Annual Growth Rate (CAGR) from 2020 to 2024 was 20%[45] - The company's non-GAAP operating margin scaled to over 19% in 2024[45] - The company's Annual Recurring Revenue (ARR) grew by 3% year-over-year in Q2 2025[47] - The company's ARR Compound Annual Growth Rate (CAGR) from Q2 2021 to Q2 2025 was 15%[47] - The company's ARR per customer was approximately $72,000 in Q2 2025[52] - The company's ARR per customer Compound Annual Growth Rate (CAGR) from Q2 2021 to Q2 2025 was 8%[52] - The company anticipates full year 2025 Annualized Recurring Revenue between $850 million and $865 million, representing a year-over-year growth of 1% to 3%[56] - The company anticipates full year 2025 revenue between $853 million and $863 million, representing a year-over-year growth of 1% to 2%[56] - The company anticipates full year 2025 non-GAAP operating income between $125 million and $135 million[56] Market Opportunity - The Total Addressable Market (TAM) for SecOps is over $54 billion[7] - The Total Addressable Market (TAM) for SecOps is expected to reach $85 billion by 2027[20] - The Total Addressable Market (TAM) for SecOps has a Compound Annual Growth Rate (CAGR) of 16%[20]

Financial Performance - Blend Labs achieved its fourth consecutive quarter of non-GAAP operating profitability, with a 15% non-GAAP operating margin[6] - Revenue reached $31523000, surpassing the midpoint of guidance and increasing by 10% year-over-year[6, 26] - Record remaining performance obligations of $190 million, driven by a $50 million renewal and expansion[6] Revenue Breakdown - Mortgage Suite revenue was $17961000, representing 57% of total revenue[26] - Consumer Banking Suite revenue totaled $11430000, accounting for 36% of total revenue[26] - Total Software Platform revenue reached $29391000, which is 93% of the total revenue, an 11% increase year-over-year[26] Profitability and Efficiency - Non-GAAP gross margin for the total Blend was 76%[15] - Software Platform non-GAAP gross margin was 79%[15] - Mortgage Suite economic value per funded loan increased to $96 in Q2 2025[12] Expense Management - Significantly reduced non-GAAP operating expenses year-over-year[17] - Non-GAAP Research & Development expenses decreased to $5893000 in Q2 2025[18, 33] - Non-GAAP Sales & Marketing expenses decreased to $6168000 in Q2 2025[18, 33] - Non-GAAP General & Administrative expenses decreased to $7251000 in Q2 2025[18, 33] Guidance - The company projects Q3 2025 total revenue to be between $31500000 and $33500000[22] - The company projects Q3 2025 Non-GAAP Net Operating Income to be between $3000000 and $4500000[23]

HCV Program & Clinical Trials - Phase 3 trial C-BEYOND (US/Canada) and C-FORWARD (Outside North America) initiated with first patient dosed in April and June 2025 respectively[12] - Phase 2 results showed 98% SVR12 in treatment adherent patients and 95% SVR12 regardless of adherence[28,29] - Phase 2 results also demonstrated 99% SVR12 in non-cirrhotic treatment adherent patients across genotypes and 97% SVR12 regardless of adherence[31,32] Market Opportunity & KOL Insights - Untreated HCV infections in the US range from 24 million to 4 million, with over 170,000 newly reported annual infections exceeding annual cures[16] - The US HCV market is estimated at ~$15 billion in 2024, with a potential market opportunity exceeding $20 billion[19] - KOL panel highlighted the need for simpler, shorter HCV treatments with fewer drug-drug interactions to improve patient adherence and expand the test-and-treat model[49] Financial Status - Cash, cash equivalents, and marketable securities totaled $3797 million as of June 30, 2025, providing a cash runway through 2027[13] - The company authorized and initiated a repurchase of up to $25 million of its common stock in April 2025, with 46 million shares repurchased as of June 30, 2025[9,67] - Net loss for the second quarter of 2025 was $37161 million, compared to $40522 million for the same period in 2024[64]