Financial Performance - Q2 2025 - Net sales declined by 40% year-over-year, reaching $38 billion in Q2 2025, compared to $40 billion in Q2 2024[27] - Organic sales decreased by 42% compared to the previous year[26] - Adjusted gross profit margin was 609%, a decrease of 70 basis points year-over-year[26, 46] - Adjusted operating income margin was 227%, a decrease of 10 basis points year-over-year[26, 46] - Adjusted diluted earnings per share were $029[26] Segment Performance - Q2 2025 - Self Care net sales were $16 billion, with a 49% reported decrease and a 59% organic sales decrease[28] - Skin Health & Beauty net sales were $11 billion, with a 40% reported decrease and a 37% organic sales decrease[33] - Essential Health net sales were $12 billion, with a 29% reported decrease and a 24% organic sales decrease[40] 2025 Outlook - The company updated its 2025 outlook, projecting a decrease in reported net sales growth in the low single digits (LSD)[23, 49] - Organic sales growth is also expected to decrease in the low single digits[49] - Adjusted diluted earnings per share are projected to be in the range of $100 to $105, assuming a full-year diluted weighted average share count of 193 billion[49] Strategic Initiatives - The Kenvue Board is undertaking a comprehensive review of strategic alternatives to unlock shareholder value[14, 57] - New leadership is focused on bolstering leadership & capabilities, reviewing operating strategy, improving execution, and optimizing structure & operating model[57]

Q2 2025 Financial Performance - Revenue reached $973 million[10], exceeding guidance due to increased demand in Semiconductor and Electronic & Packaging markets[11] - Non-GAAP net earnings per diluted share were $1.77[10], at the high end of guidance[11] - Adjusted EBITDA was $240 million[10] - Non-GAAP gross margin was 46.6%[10] Segment Performance - Semiconductor revenue was $432 million[12], a 17% year-over-year increase or 16% excluding FX impacts[12] - Electronics & Packaging revenue was $266 million[19], a 16% year-over-year increase excluding FX and Palladium impacts, or 14% year-over-year increase[19] - Specialty Industrial revenue was $275 million[26], a 5% year-over-year decrease excluding FX and Palladium impacts, or 6% year-over-year decrease[26] Q3 2025 Outlook - Revenue is projected to be $960 million, with a variance of plus or minus $40 million[40] - Semiconductor revenue is expected to be $405 million, with a variance of plus or minus $15 million[16, 43] - Electronics & Packaging revenue is expected to be $285 million, with a variance of plus or minus $10 million[23, 43] - Specialty Industrial revenue is expected to be $270 million, with a variance of plus or minus $15 million[30, 43]

Financial Performance - Ziff Davis' Q2 2025 revenues increased by 9.8% to $352.2 million, compared to $320.8 million in Q2 2024 [15] - Adjusted EBITDA for Q2 2025 was $107.7 million, an 11.8% increase from $96.3 million in Q2 2024 [15] - Adjusted diluted EPS increased by 5.1% from $1.18 in Q2 2024 to $1.24 in Q2 2025 [15] Revenue Breakdown - Advertising and Performance Marketing revenue increased by 15.5%, from $170 million in Q2 2024 to $197 million in Q2 2025 [20] - Subscription and Licensing revenue increased by 5.0%, from $142 million in Q2 2024 to $149 million in Q2 2025 [20] Segment Performance - Technology & Shopping segment revenue increased by 11.3%, from $72.5 million in Q2 2024 to $80.8 million in Q2 2025 [26] - Gaming & Entertainment segment revenue increased by 7.5%, from $43.0 million in Q2 2024 to $46.2 million in Q2 2025 [32] - Health & Wellness segment revenue increased by 15.7%, from $86.0 million in Q2 2024 to $99.5 million in Q2 2025 [39] - Connectivity segment revenue increased by 14.2%, from $50.3 million in Q2 2024 to $57.4 million in Q2 2025 [45] - Cybersecurity & Martech segment revenue decreased by 0.9%, from $69.0 million in Q2 2024 to $68.3 million in Q2 2025 [52] Financial Guidance - Ziff Davis reaffirmed its FY 2025 revenue guidance with a midpoint of $1.472 billion, representing a 5.0% year-over-year increase [63] - Adjusted EBITDA guidance midpoint is $523 million, a 6.0% increase year-over-year [63] - Adjusted diluted EPS guidance midpoint is $6.96, a 5.1% increase year-over-year [63]

Financial Performance & Growth - Nova's revenue has grown significantly from $269 million in 2020 to $672 million in 2024[9], outperforming the industry's growth rate[9] - Q2 2025 saw record revenue with a 40% year-over-year increase, along with record profitability and revenue from Foundry/Logic and chemical metrology[14] - The company has $856 million in cash reserves[14] - Nova is targeting double-digit annual growth[42] Market & Technology - The AI-driven market presents multiple growth engines, with revenue CAGR (2024-2029) of 44% for Advanced Logic, 17% for Advanced Memory, and 32% for Advanced Packaging[16] - Metrology opportunities are increasing due to device inflections in Logic (FinFET, GAA, GAA+BPD) and Memory (2D/3D DRAM, 3D NAND)[18] - Advanced Packaging TAM is projected to grow, with metrology opportunities in dimensional and chemical analysis[30] Strategy & Operations - Nova has a global presence with 4 R&D and Production Centers and 31 sites[31] - The company invests heavily in R&D, targeting 15%-17% of annual revenue[48] - Nova aims for a financial target model with 57%-60% gross margin and 28%-33% operating margin[54] Service Business - Service revenue is growing, with a CAGR of 22% from 2020-2024[43, 46] - The installed base has increased from 3000 in 2020 to 6400 in 2024[43] - Service profitability has improved from 38% in 2020 to 46% in 2024[44]

Company Overview - Better Home & Finance Holding Company is developing a next-generation AI mortgage platform aimed at simplifying and accelerating the mortgage process[11] - Mortgages originated with Better technology cost 43% less than the industry average[17] - The company's platform delivers a best-in-class experience with a 64 Net Promoter Score and a 4.1 out of 5 Trustpilot Score[21] Market Opportunity - The cumulative homeownership market size is estimated at $19+ trillion[19] - Home mortgages represent approximately 69% of total household debt[19] - Buyers pay fees to up to 10 intermediaries, accounting for ~10% of home price[21] Technology and Platform - The platform is powered by Tinman® AI, which enables faster rate quotes (3 seconds), pre-approvals (3 minutes), and loan closes (3 weeks)[21, 13] - The company's AI agent, Betsy, has led to a 3x increase in loan officer productivity[57] - The company retains loans on its balance sheet for approximately 26 days on average[30, 32] Financial Performance - In Q2 2025, the total mortgage revenue was $7886 thousand per fund[58] - In Q2 2025, the contribution margin per fund was $1064[58] - Adjusted EBITDA for Q2 2025 was $(26605) thousand, compared to $(23259) thousand in Q2 2024[79]

Financial Performance - Avadel Pharmaceuticals generated $68.1 million in net revenue in Q2 2025, a 64% year-over-year increase[13] - The company raised FY25 revenue guidance to $265 - $275 million[13] - Avadel achieved cash-flow positive status in Q2 2025[13] - Cash, cash equivalents, and marketable securities totaled $81.5 million as of June 30, 2025[13] - GAAP Operating Income for Q2 2025 was $8.9 million, compared to a loss of $12.7 million in Q2 2024[22] - Non-GAAP Operating Income for Q2 2025 was $15.0 million, compared to a loss of $1.2 million in Q2 2024[24] LUMRYZ and Pipeline Development - Approximately 3,100 patients are currently on LUMRYZ therapy, a 63% increase compared to June 30, 2024[9, 13] - The REVITALYZ Phase 3 trial of LUMRYZ in Idiopathic Hypersomnia (IH) is on track to complete enrollment during 4Q25, with data expected in 1H26[13] - LUMRYZ received Orphan Drug Designation for Idiopathic Hypersomnia (IH)[13] - Approximately 11% of the 42,000 US patients diagnosed with IH are treated with the only FDA approved oxybate treatment[18]

Financial Performance - Q2 2025 revenue reached $739 million, an 84% year-over-year increase, driven by Alani Nu's $301.2 million revenue contribution[31] - Gross profit for Q2 2025 was $381 million, an 82% year-over-year increase, with a gross margin of 51.5%[31, 32] - Adjusted EBITDA for Q2 2025 increased by 109% to $210 million, resulting in an adjusted EBITDA margin of 28.4%[31, 32] - Net income for Q2 2025 rose by 25% to $99.9 million[31, 32] - Adjusted diluted EPS for Q2 2025 increased by 68% year-over-year to $0.47[31, 32] - For the first half of 2025, revenue was $1.07 billion, a 41% increase compared to the first half of 2024[15, 32] Market Position and Growth - Celsius Holdings' portfolio surpassed $4 billion in past-52-week tracked retail sales as of July 20, 2025[31] - The Alani Nu brand delivered +129% year-over-year retail growth and added +3.1 points of share in Q2 2025[31] - Celsius Holdings contributed 13% of all energy drink category growth in 1H 2025 and holds 99.3% ACV[15] - Celsius Holdings is the 3 energy drink portfolio in the U S with a total U S share of 16 8% in tracked channels in 1H 2025[15]

Financial Performance - Elanco's Q2 2025 revenue reached $1.241 billion, a 5% increase compared to $1.184 billion in Q2 2024 [34] - Organic constant currency (CC) revenue growth was 8% [9, 11] - Adjusted EBITDA for Q2 2025 was $238 million, compared to $275 million in Q2 2024 [34] - Adjusted earnings per share (EPS) diluted was $0.26, compared to $0.30 in Q2 2024 [34] Innovation and Portfolio - Innovation revenue contribution in H1 2025 was $420 million [9, 15] - The 2025 innovation sales target has been raised to $720-$800 million [9, 14, 15] - U S Pet Health segment experienced an 11% revenue increase [9, 32] Financial Outlook and Strategy - The company is increasing organic CC revenue growth guidance for 2025 to 5%-6% [10] - Adjusted EBITDA guidance for 2025 is $850-$890 million [10] - Adjusted EPS guidance for 2025 is $0.85-$0.91 [10] - The company expects a $500-$550 million gross debt paydown in 2025, targeting a net leverage ratio of 3.8x-4.1x [9]

Financial Performance - 1H 2025 KIMMTRAK net sales reached $192 million, a 32% year-over-year increase[10] - Q2 2025 KIMMTRAK net revenue was $98 million, including $641 million from the US and $33 million from Europe[19] - The company's cash position as of June 30, 2025, was $883 million[11] KIMMTRAK Market Expansion - KIMMTRAK is approved in 39 countries and launched in 28 countries[17] - US revenue for KIMMTRAK showed a 15% year-on-year quarterly growth[21] - European revenue for KIMMTRAK showed a 115% year-on-year quarterly growth[25] Pipeline Development - The company is advancing autoimmune candidates towards CTA/IND[10] - Phase 3 trials are ongoing for TEBE-AM, ATOM, and PRISM-MEL[10] - Phase 1/2 trials are ongoing for HIV and HBV infectious diseases trials[10] Clinical Trials - TEBE-AM Phase 3 trial in 2L+ cutaneous melanoma is expected to complete randomization in 1H 2026[35] - PRISM-MEL-301 Phase 3 trial for 1L advanced cutaneous melanoma is ongoing, with dose selection expected in 2H 2025[32] - ATOM Phase 3 trial is ongoing in adjuvant uveal melanoma[32]

Business Performance - Filled VOQUEZNA prescriptions have exceeded 580,000 since launch, compared to over 390,000 as of April 18, 2025[9] - Quarterly filled prescriptions reached approximately 173,000 in Q2 2025, a roughly 36% increase from the previous quarter[10] - Cumulative writers have surpassed 29,300 as of July 18, 2025, up from over 23,600 as of April 11, 2025[13] - Gastrointestinal (GI) specialists account for 70% of the launch-to-date volume, while Primary Care Physicians (PCP) and other non-GI specialties make up 30%[17] - The company is increasing calls on approximately 37,000 Healthcare Professionals (HCPs), focusing on nearly all GIs, all existing writers, and high decile PCPs in Q3 2025[18] Financial Results and Guidance - The company had $1496 million in cash and cash equivalents as of June 30, 2025[28] - The company anticipates reaching profitability in 2026[28] - Net revenue for FY 2025 is projected to be between $165 million and $175 million[22] - Non-GAAP operating expenses are forecasted to be less than $60 million for Q3 2025 and less than $55 million for Q4 2025[22] - Quarterly net revenue increased from $73 million in Q2 2024 to $395 million in Q2 2025[31]