Glaukos (GKOS) Q1 2025 Earnings Call April 30, 2025 04:30 PM ET Company Participants Chris Lewis - VP, IR and Corporate AffairsThomas Burns - Chairman & CEOThomas Stephan - Vice PresidentJoseph Gilliam - President & COOAllen Gong - Vice PresidentJoanne Wuensch. - Managing DirectorRichard Newitter - Managing DirectorAlex Thurman - Senior VP & CFOAnthony Petrone - Managing DirectorPatrick Wood - Managing Director Conference Call Participants Ryan Zimmerman - Managing Director & Medical Technology AnalystLawre ...

Guardant Health (GH) Q1 2025 Earnings Call April 30, 2025 04:30 PM ET Company Participants Zarak Khurshid - VP, Investor RelationsHelmy Eltoukhy - Chairman & Co-Chief Executive OfficerAmirAli Talasaz - Co- CEOMichael Bell - CFOTycho Peterson - Managing DirectorSubbu Nambi - Managing DirectorPuneet Souda - Senior MD Conference Call Participants Mark Massaro - Managing Director - Senior Equity Research AnalystWilliam Bonello - Senior Research AnalystDan Leonard - Managing Director & Research AnalystDan Brenna ...

TTM Technologies (TTMI) Q1 2025 Earnings Call April 30, 2025 04:30 PM ET Company Participants Sameer Desai - Vice President of Corporate Development & Investor RelationsThomas Edman - President & CEODaniel Boehle - Executive VP & CFORuben Roy - Managing Director - Equity ResearchMike Crawford - SMD & Head of Discovery Group Conference Call Participants William Stein - Managing Director/Senior Research Analyst - TechnologyJim Ricchiuti - Managing Director & Senior Equity Research Analyst Operator Good aftern ...

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $405 million, a 24% increase year over year but a 3% decrease sequentially [15][16] - Gross margin improved to 37.9%, up 280 basis points year over year, despite a slight decrease from the previous quarter [19][21] - Earnings per share for Q1 was $1.23, compared to $1.30 in the previous quarter and $0.58 a year ago [21] Business Line Data and Key Metrics Changes - Semiconductor revenue was $222 million, down 2% sequentially but up 23% year over year, driven by strong demand in AI-related leading-edge foundry logic and memory [17] - Data center computing revenue reached a record $96 million, up 9% sequentially and 30% year over year, with multiple new hyperscale programs ramping [17][9] - Industrial and medical revenue was $64 million, down 16% sequentially and 23% year over year, primarily due to ongoing inventory destocking [18][10] - Telecom and networking revenue declined 5% sequentially and 2% year over year to $22 million, in line with expectations [19] Market Data and Key Metrics Changes - The semiconductor market is expected to grow around 10% for the year, supported by new product ramps [26] - Data center computing is projected to continue strong growth, particularly driven by AI investments [25] - Industrial and medical markets are anticipated to recover in Q2, although the pace may be affected by economic uncertainty and tariffs [26][10] Company Strategy and Development Direction - The company is focused on delivering value through superior technology, in-house manufacturing, and best-in-class service, with significant investments in R&D and new product capabilities [3][14] - The closure of the last factory in China is expected to enhance gross margins in the second half of the year [4][28] - The company aims to capture market share through new product introductions and strategic acquisitions, particularly in the fragmented industrial and medical markets [14][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the revenue outlook for Q2, supported by solid customer demand in data center and semiconductor markets [4][25] - Despite macroeconomic uncertainties, the company believes it is well-positioned to mitigate tariff impacts and maintain growth [5][28] - The management highlighted strong customer pull for next-generation products and a robust design win pipeline [7][11] Other Important Information - The company repurchased $22.7 million worth of common stock in April at an average price of $83.78 per share [16] - The company expects Q2 revenue to be approximately $420 million, with a gross margin around 38% [26] Q&A Session Summary Question: What is the underlying view for the semiconductor equipment market? - Management believes the market is expected to be flat, with their growth projection of 10% indicating outperformance due to strong demand in leading-edge processes and new products [32][33] Question: Are there any risks of delays in the rollout of new systems? - Management acknowledged potential delays but emphasized the urgency from customers to incorporate new solutions due to challenges with older technology [57] Question: What steps are being taken to improve the industrial and medical business? - Management indicated that while the current state is challenging, they are optimistic about long-term growth due to a strong design win pipeline and potential acquisitions in the fragmented market [46][48] Question: How significant is the impact of tariffs on costs? - Management stated that while there are some costs associated with tariffs, they are manageable and have been factored into their guidance [109] Question: What is the outlook for gross margins moving into 2026? - Management expects continued improvement in gross margins driven by new product traction and operational efficiencies, with a goal to approach 40% by the end of the year [90][78]

Mister Car Wash (MCW) Q1 2025 Earnings Call April 30, 2025 04:30 PM ET Company Participants Edward Plank - VP - Investor RelationsJohn Lai - Chairperson & Chief Executive OfficerJedidiah Gold - CFO & TreasurerSimeon Gutman - Managing DirectorRandal Konik - Managing DirectorChris O'cull - Managing DirectorBobby Griffin - Managing Director Conference Call Participants Simeon Gutman - AnalystDavid Bellinger - Director & Senior AnalystPeter Keith - Managing Director & Senior Research AnalystPhillip Blee - Equit ...

Warrior Met Coal (HCC) Q1 2025 Earnings Call April 30, 2025 04:30 PM ET Company Participants Brian Chopin - SVP, Chief Accounting Officer and ControllerWalter Scheller - CEODale Boyles - CFO Conference Call Participants Katja Jancic - AnalystNick Giles - Senior Research AnalystGeorge Eadie - Equity AnalystNathan Martin - Senior Research Analyst Operator Good afternoon. My name is Dovan, and I will be your conference operator today. At this time, I would like to welcome everyone to the Warrior First Quarter ...

Waystar Holding (WAY) Q1 2025 Earnings Call April 30, 2025 04:30 PM ET Company Participants Sandy Draper - VP, Investor RelationsMatt Hawkins - CEO & Board MemberSteve Oreskovich - CFOAdam Hotchkiss - VP - Emerging Software Equity ResearchSaket Kalia - Managing DirectorBrian Peterson - Managing DirectorJailendra Singh - Managing DirectorRyan Daniels - Group Head–Healthcare Technology and ServicesRichard Close - Managing DirectorAnne Samuel - Executive Director Conference Call Participants Joanna Zhou - Equi ...

Align Technology (ALGN) Q1 2025 Earnings Call April 30, 2025 04:30 PM ET Company Participants Shirley Stacy - Vice President, Corporate Communications & Investor RelationsJoseph Hogan - Director, President & CEOJohn Morici - CFO & EVP, Global FinanceJonathan Block - Managing DirectorMichael Ryskin - Managing DirectorKevin Caliendo - Managing Director Conference Call Participants Brandon Vazquez - Research AnalystVik Chopra - AnalystJeffrey Johnson - Managing Director, Senior Research AnalystMichael Cherny - ...

Financial Data and Key Metrics Changes - First quarter consolidated revenue was $629.4 million, down 3% year over year, but at the high end of the guidance range [20] - Adjusted EBITDA was $58.1 million, representing a margin of 9.2% [20] - Consolidated net loss per share was $0.53, compared to a net loss per share of $0.49 in the same quarter of the previous year [20][21] - Free cash flow was a net outflow of $16 million, an improvement of $11 million compared to the prior year [22] Business Line Data and Key Metrics Changes - Integrated Care segment revenue was $389.5 million, an increase of 3.3% year over year, exceeding the top end of guidance [22] - BetterHelp segment revenue was $239.9 million, down 11% year over year, but above the midpoint of guidance [26] - U.S. Integrated Care segment membership reached 102.5 million, up 12% year over year [24] - Virtual visit volume in the U.S. increased by 7%, while Chronic Care enrollment rose by 3% [24] Market Data and Key Metrics Changes - The international business of Integrated Care showed revenue growth in the mid-teens on a constant currency basis [13][24] - BetterHelp served over 1 million unique users globally in 2024, with 40% being new to therapy [8] Company Strategy and Development Direction - The acquisition of Uplift aims to enhance the BetterHelp segment's position in virtual mental health services [6][7] - The company is focused on expanding its international markets and enhancing product offerings, including new pricing models [11] - The strategy includes leveraging BetterHelp's consumer expertise to provide more options for mental health care [7] Management's Comments on Operating Environment and Future Outlook - The healthcare industry faces challenges from medical cost trends and mental health issues, but these dynamics also present opportunities [16] - The broader economic environment is being monitored closely, with signs of weakening business and consumer sentiment [18] - The company remains on track with its 2025 revenue outlook and is optimistic about future growth potential despite macro uncertainties [19] Other Important Information - The company has a strong cash position with nearly $1.2 billion in cash and cash equivalents [38] - The acquisition of Uplift was valued at $30 million in cash, with potential additional earn-out consideration [32] Q&A Session Summary Question: Impact of shorter duration contracts on BetterHelp - Management noted that the weekly offering has led to stronger conversion rates but also higher churn, resulting in a net positive effect [41][44] Question: Evaluation of BetterHelp network's payer coverage - Management clarified that the focus was on technical capabilities and that they paused payer contracts to avoid mixed signals during the Uplift acquisition [47][49] Question: Trends in BetterHelp member growth and revenue per member - Management explained that while revenue per member has declined, the significant increase in membership provides opportunities for upselling additional services [56][58] Question: BetterHelp margin improvement expectations - Management indicated that the second half of the year would see revenue growth driven by international efforts and insurance initiatives, with a planned pullback in ad spend [75][77] Question: Customer acquisition cost trends - Management reported stable customer acquisition costs, with favorable trends due to improved conversion rates from the weekly offering [85][86] Question: Cost-saving opportunities in technology and G&A - Management emphasized ongoing efforts to streamline costs, with a focus on technology and development spending being down year over year [92][95]

Financial Data and Key Metrics Changes - Q1 2025 total revenue grew 21% year over year to $203.5 million, driven largely by oncology revenue which increased 20% to $150.6 million [6][27] - Non-GAAP gross margin improved to 65% in Q1 2025, up from 63% in Q1 2024, primarily due to improved oncology ASPs and significant reductions in COGS for Reveal and Shield [32] - Adjusted EBITDA loss was $58.5 million for Q1 2025, an improvement from a loss of $61.1 million in Q1 2024 [33] Business Line Data and Key Metrics Changes - Oncology revenue increased 20% year over year to $151 million, with volumes growing 25% to approximately 59,000 tests in Q1 2025 [6][27] - Biopharma and data revenue grew 21% year over year to $45.4 million, supported by increasing partnerships and volume leveraging methylation analysis [15][28] - Screening revenue from Shield totaled $5.7 million in Q1 2025, driven by approximately 9,000 tests [17][29] Market Data and Key Metrics Changes - Guardant360 ASP improved to the range of $3,000 to $3,100 in Q1 2025, compared to approximately $3,000 in Q4 2024, due to better reimbursement from Medicare Advantage and commercial payers [8][27] - Shield received ADLT status, increasing the Medicare price from $920 to $1,495 effective April 1, which is expected to enhance ASP and volume [18][50] Company Strategy and Development Direction - The company aims to support patients throughout their cancer journey, focusing on early detection, monitoring recurrence, and treatment selection [4][5] - Continued investment in EMR integrations is expected to improve ordering depth per account, enhancing overall business performance [8][15] - The launch of upgraded products like Guardant360 Tissue is intended to leverage the smart liquid biopsy platform, providing a comprehensive testing solution [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cash flow breakeven by 2028, with cumulative free cash outflow projected between $450 million to $550 million over the next three years [34][37] - The company anticipates total oncology volume to grow greater than 25% in 2025, driven by strong product performance and improved reimbursement [35][36] - Management highlighted the importance of both liquid and tissue testing modalities, suggesting that both will be standard care for patients in the future [71] Other Important Information - The company reported that both Reveal and Shield became gross margin positive in Q1 2025, with significant cost reductions achieved [30][31] - The company is focused on cash management and reducing burn rates, with a free cash flow burn of $67 million in Q1 2025, influenced by the timing of annual bonus payouts [33][34] Q&A Session Summary Question: What are the drivers for the accelerated growth in oncology volume? - Management noted strong growth from Guardant360 due to recent product upgrades and the positive market fit for liquid biopsy in therapy selection [42][44] Question: Can you elaborate on the components of the raised guidance for Shield? - Management indicated that improved sales force productivity and the recent ADLT status for Shield contributed to the raised guidance, with expectations for ASP to increase to around $800 [45][50] Question: What is the market share in tissue testing and long-term expectations? - Management acknowledged that the tissue market share is currently small but expects significant growth potential due to the new product's capabilities and market demand [97]