P3 Health Partners (PIII) Q2 2025 Earnings Call August 14, 2025 04:30 PM ET Speaker0Good day, and welcome to the P3 Health Partners Second Quarter twenty twenty five Earnings Conference Call. All participants will be in a listen only mode. Please note this event is being recorded. I would now like to turn the conference over to Ryan Holstead. Please go ahead.Speaker1Thank you, operator, and thank you for joining us today. Before we proceed with the call, I would like to remind everyone that certain statemen ...

Financial Data and Key Metrics Changes - For Q2 2025, the company received total orders of over $3 million and recorded revenue of $2.2 million, with $1.6 million from recurring revenue and $650,000 from one-time capital equipment sales [6][7] - Gross margin in Q2 2025 was 73%, up from 64% in Q2 2024 [6] - Total operating expenses in Q2 2025 were $15.4 million, compared to $9.3 million in Q2 2024 [6] - The net loss for Q2 2025 was $15.7 million, or $0.52 per share, compared to a net loss of $6.9 million, or $0.28 per share, in Q2 2024 [7] Business Line Data and Key Metrics Changes - The company is transitioning from a placement model to a capital model, which is expected to lead to a backend-loaded revenue operation [8][9] - The sales pipeline includes close to 500 prospects, with over 100 leads engaged and 80 qualified leads in the verification, negotiation, and contracting stages [10][11] Market Data and Key Metrics Changes - The U.S. sales team has been streamlined to focus on organizational sales to corporatized hospitals, emphasizing the importance of intangible attributes like grit and perseverance in sales success [12][13] - The company aims to increase the number of active sites in the U.S., with a target of at least 75 by the end of the year [61] Company Strategy and Development Direction - The CAPTAIN trial has been fully recruited, which is expected to drive adoption of the TULSA procedure and influence treatment guidelines [15][16] - The pilot release of the new TULSA AI volume reduction software is anticipated to enhance efficiency in BPH procedures, moving TULSA from a niche to a mainstream treatment option [19][20] - The company is optimistic about the integration of TULSA with new interventional MR technologies, which could enhance its market position [63] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 70% to 75% revenue growth in 2025 compared to 2024, despite short-term revenue shortfalls due to delays in capital sales [8][22] - Positive feedback from physicians regarding the CAPTAIN trial completion is expected to enhance adoption and pipeline growth [36][37] - The company anticipates that as more data is published, it will lead to new guidelines requiring that TULSA be presented as a treatment option alongside traditional methods [23] Other Important Information - The company has approximately $35.2 million in cash as of June 30, 2025 [7] - The initial clinical outcomes from the CAPTAIN trial are expected to be presented at major medical meetings in December [19][94] Q&A Session Summary Question: Can you provide insights on the sales contribution from recurring and capital perspectives? - Management indicated that the revenue mix is expected to shift from recurring to capital revenue as the installed base grows, with a long-term goal of 70% recurring and 30% capital revenue [29][30] Question: What feedback are you receiving from physicians regarding the CAPTAIN trial? - High positive feedback has been received, particularly regarding the completion of the trial, which is seen as a significant achievement in the field [36][37] Question: How does the proposed reimbursement rule for BPH treatments affect TULSA? - The company maintained favorable reimbursement levels compared to other BPH procedures, which positions TULSA advantageously in the market [44][45] Question: What is the current number of active TULSA placements in the U.S.? - There are about 60 active sites, with plans to install three more, aiming for at least 75 by year-end [61] Question: How is the soft launch of the volume reduction module for BPH going? - Initial feedback has been excellent, with procedure times averaging closer to 60 minutes, which is a significant improvement [90][91]

Financial Data and Key Metrics Changes - Total revenues for Q3 2025 were $9,900,000, reflecting a 42% sequential increase and a 38% year-over-year increase [17] - Hardware revenues grew approximately 50% year-over-year, driven by $4,300,000 from the Puerto Rico project [17] - Gross profit margins for June were 26.3%, lower than both the prior year and previous quarter, primarily due to accounting methods and higher tariff costs [17][18] - Operating loss for Q3 was $5,900,000, compared to a loss of $5,400,000 in the prior year [19] Business Line Data and Key Metrics Changes - Software revenues grew 7% year-over-year but were flat sequentially due to limited bookings offset by slight churn [17] - The backlog of business amounted to over $60,000,000 as of June 2025, indicating strong future revenue potential [5][15] Market Data and Key Metrics Changes - The software pipeline is at an all-time high, with significant growth in interest from customers located East of the Rockies, contributing over 25% of the software pipeline in the past year [10][11] - More than $9,000,000 of software bookings are currently awaiting funding from federal programs [9] Company Strategy and Development Direction - The company is focusing on cost discipline and has implemented targeted headcount reductions to save $2,500,000 annually [9][19] - The Puerto Rico project, valued at $75,000,000, is a key strategic initiative, with construction underway on multiple dams and expected to generate significant revenue [11][12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in the operating environment, including funding delays from federal programs, but expressed confidence in the growing backlog and pipeline [16][20] - Future revenue from Puerto Rico is projected to significantly increase, with expectations of $1,520,000,000 in total revenues for fiscal 2025 [20] Other Important Information - The company has secured $4,000,000 through an amendment to its term loan to support operations [20] - The integration of FloodMap with the company's products has increased interest in flood-related solutions, particularly in areas affected by recent weather events [42][44] Q&A Session Summary Question: What are the gross margin expectations for the Puerto Rico contract? - Management indicated that gross margins for Puerto Rico are expected to be higher than normal LRAD gross margins, with substantial improvements anticipated in Q4 [25][29] Question: How does cash flow work with the Puerto Rico project? - Cash flow from operations is expected to be healthy as dams are completed and payments are received, with 60% of each group's value paid upfront as a deposit [32] Question: What is the outlook for CROWS revenue? - Initial revenue from CROWS is expected to be larger than the initial tranche of $8 to $8.5 million, with historical numbers indicating potential revenues between $10 million and $15 million [34][35] Question: Is there a steady state level of business that is immune to federal funding constraints? - Most revenue is generated from state and local governments, indicating some vulnerability to federal funding chaos, but a current backlog of over $60,000,000 provides some resilience [36][38]

Financial Data and Key Metrics Changes - In Q2 2025, TMC reported a net loss of $74.3 million or $0.20 per share, compared to a net loss of $20.2 million or $0.06 per share in the same period of 2024 [32] - Free cash flow for Q2 2025 was negative $10.7 million, an improvement from negative $12.2 million in Q2 2024 [33] - The company had pro forma cash of approximately $120 million as of June 30, 2025, which includes proceeds from various capital raises [30] Business Line Data and Key Metrics Changes - The Pre-Feasibility Study (PFS) indicated a combined project net present value (NPV) of over $23 billion, with a clear capital-efficient path to first production [9] - The estimated recoverable nodules for the PFS is 164 million wet tons, with an assumed production start date in Q4 2027 [21] - Annual production in steady state is modeled at 10.8 million tons of wet nodules, with expected revenue per dry ton of approximately $600 during steady state production [22][24] Market Data and Key Metrics Changes - The revenue mix is expected to be 45% from nickel products, 28% from manganese, 17% from copper, and 9% from cobalt [24] - The company is positioned in the first quartile of the cost curve, with C1 nickel cash costs just over $1,000 per ton, making it profitable in nearly any nickel price environment [24] Company Strategy and Development Direction - TMC aims to adapt to a capital-light approach while advancing its projects, maintaining a unique position in the seabed mining industry [8] - The company has renewed partnerships with Nauru and Tonga, focusing on a science-based approach to develop the industry sustainably [12] - TMC is exploring funding opportunities from various U.S. government departments to support its projects [41][67] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the regulatory path and the support from the U.S. government, indicating a favorable environment for seabed mining [45][60] - The anticipated ramp-up period post-permitting is expected, with production targeted for Q4 2027 [10] - Management highlighted the importance of securing domestic supply chains and advancing U.S. mineral independence [14] Other Important Information - The company welcomed new board members with extensive experience in energy, finance, and law, enhancing its strategic capabilities [14] - TMC's partnerships with Korea Zinc and other stakeholders are expected to facilitate the development of refining capacity in the U.S. [13][26] Q&A Session Summary Question: What work needs to be done to get through the feasibility level and the timeline? - Management emphasized focusing on final agreements with partners and preparing for the investment decision to meet the Q4 2027 production target [40] Question: What are the next major steps or milestones regarding permitting under NOAA? - Management indicated that the closing of the comment period and expected regulatory changes would facilitate faster permitting [42][44] Question: What main factors could accelerate or slow down progress towards production? - Management noted that government support and regulatory clarity are encouraging, with normal business risks being manageable [52][53] Question: Can you clarify the difference between provisional approval and final approval? - Management explained that provisional approval would provide confidence while the final approval process is completed, which is expected by the end of the year [79][82]

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $3.8 million, a decrease from $3.9 million in the prior year period [17] - Subscription license revenue was $3.1 million, up from $3.0 million in the prior year, accounting for 81% of total revenue [17][18] - Services revenue decreased to $700,000 from $900,000 in the prior year, representing 19% of total revenue [18] - Gross profit was $2.5 million with a gross profit margin of 66%, down from 72% in the prior year [18] - Net loss for the quarter was $800,000 compared to a net loss of $300,000 in the prior year [19] - Adjusted EBITDA was negative $330,000 compared to positive $3,000 in the prior year [19] Business Line Data and Key Metrics Changes - Core products now account for over 60% of total revenue, with double-digit growth from Hawk Search [6][15] - Hawk Search has a net revenue retention rate of 114%, indicating strong customer satisfaction and expansion [7][15] - Average initial contract for Hawk Search customers is $25,000 ARR, with additional features bringing total to $75,000 ARR [8] Market Data and Key Metrics Changes - Hawk Search was ranked as the number one B2B search software provider by Gartner [8] - The company added over 20 new customers and sold more than 30 licenses to existing customers [6] Company Strategy and Development Direction - The company is focusing on revenue growth, product innovation, and customer success [20] - Increased marketing budget from $250,000 to $500,000 per quarter to enhance lead generation [10][11] - The strategy includes leveraging partnerships and co-hosted events to generate leads more effectively [12] Management's Comments on Operating Environment and Future Outlook - Management expects Hawk Search to continue growing and positively impacting overall company growth by 2026 [15][55] - The company is in a favorable position within the B2B market and is capitalizing on advancements in AI technology [55] Other Important Information - As of June 30, 2025, the company had cash of over $2.1 million and total assets of $16.1 million [19][20] - Total liabilities were $6.2 million, with no significant debt obligations [20] Q&A Session Summary Question: How has your customer acquisition strategy evolved? - The company has shifted to investing two-thirds of its budget in known lead sources, focusing on campaigns that generate the best leads [25] Question: Where does your pipeline stand in regards to reaching new customers or expanding within existing customers? - Approximately 60% of sales have been to existing customers, indicating strong product value and customer retention [27] Question: Are you getting any customer feedback about the new technology enhancements? - Most product releases were driven by customer feedback, leading to innovations that meet customer needs [29] Question: Should we expect sales and marketing expenses to continue at the current level? - The company plans to maintain the increased marketing spend of $500,000 per quarter, as it is producing positive results [35] Question: What are competitors doing in response to Hawk Search's success? - Competitors are offering free professional services to compete, but this approach is not sustainable long-term [38][39] Question: Is there significant customer concentration within Hawk Search? - No single customer contributes 5% of revenues, indicating a diversified customer base [49]

FitLife Brands (FTLF) Q2 2025 Earnings Call August 14, 2025 04:30 PM ET Speaker0Good day, and welcome to the Filipends Second Quarter twenty twenty five Financial Results Conference Call. The floor will be open for questions and comments following the presentation. It is now my pleasure to turn the floor over to your host, Dayton Judd, CEO at FitLife. Sir, the floor is yours.Speaker1Thank you, Paul. I'd like to welcome everyone to FitLife's Second Quarter twenty twenty five Earnings Call. We appreciate you ...

Financial Data and Key Metrics Changes - Revenue for Q4 FY2025 was $1.9 billion, up 12% quarter-over-quarter and 8% year-over-year, exceeding guidance [4][16] - Non-GAAP earnings per share for the quarter were $0.29, above the guidance range of a loss of $0.10 to a profit of $0.15 [18] - For FY2025, total revenue was $7.355 billion, an increase of 10% from FY2024 [17] Business Line Data and Key Metrics Changes - Cloud revenue for Q4 was $213 million, up 8% sequentially and 25% year-over-year [17] - Client revenue reached $1.103 billion, up 19% sequentially and 3% year-over-year [17] - Consumer revenue was $585 million, up 2% quarter-over-quarter and 12% year-over-year [17] Market Data and Key Metrics Changes - Data center represented over 12% of total bits shipped in Q4, indicating significant growth in this market segment [7] - Hyperscale capital expenditure in the U.S. is expected to grow 47% year-over-year to $368 billion, with rising investments in Asia and Europe [10] Company Strategy and Development Direction - The transition to BIX-eight is a pivotal moment for the company, with expectations of significant financial improvement and expanding margins as macro headwinds subside [6][25] - The company is focusing on high-capacity Ultra QLC platforms to meet the demands of AI-driven workloads and data lakes [8][10] - Strategic partnerships with industry leaders like SK Hynix aim to standardize high bandwidth flash memory technology [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for FY2026, anticipating continued demand exceeding supply and a favorable market environment [5][25] - The company plans to manage supply in line with demand, adjusting wafer starts and underutilizing fabs as necessary [21] - Management highlighted the importance of innovation and disciplined capacity management to drive long-term value creation [25] Other Important Information - The company reduced inventory days from 150 to 135, reflecting improved demand-supply dynamics [5][19] - Non-GAAP gross margin for Q4 was 26.4%, with expectations for further improvement in the upcoming quarters [17][18] Q&A Session Summary Question: Can you provide more depth on gross margins? - Management noted that underutilization costs are decreasing, with startup costs impacting gross margins significantly [29] Question: What is the strategy behind the high bandwidth flash partnership? - The partnership aims to optimize AI architecture and establish industry standards for flash technology [32][36] Question: How do you view the growth in client demand for the second half of the year? - Management sees consistent demand from customers and believes inventory levels have normalized [56] Question: What is the outlook for the data center SSD business? - The company aims to increase its market share in the data center segment, with ongoing qualifications and product launches [62] Question: How is the company navigating the competitive dynamics in China? - The company views China as an attractive market and maintains strong partnerships there [81][83] Question: What are the expectations for startup costs in the upcoming quarters? - Management expects startup costs to decrease significantly in the next two quarters, improving gross margins [44][69]

Financial Data and Key Metrics Changes - Total revenues for Q2 2025 increased 280% to $5,740,000 compared to $1,510,000 in Q2 2024 [9] - For the six months ended 2025, total revenues increased 314% to $10,690,000 from $2,580,000 in the same period last year [9] - Gross margin for Q2 2025 increased 808% to $1,520,000 compared to negative $215,000 for Q2 2024 [11] - Net loss for Q2 2025 totaled $3,520,000 compared to a net loss of $3,200,000 for Q2 2024, a 10% increase attributed to noncash stock-based compensation [15] Business Line Data and Key Metrics Changes - The asset management agreement (AMA) with APR Energy has stabilized financials, contributing approximately $5,690,000 in recurring services and consulting revenue in Q2 2025 [9][10] - The railcar inspection portal business has remained flat, but is expected to see broader usage in the coming years [3] - Operating expenses for Q2 2025 increased 65% to $4,960,000 compared to $3,000,000 for Q2 2024, largely due to noncash stock-based compensation [12] Market Data and Key Metrics Changes - The company has successfully installed and delivered a 150 megawatt gas turbine power plant in Mexico in 35 days, indicating strong operational capabilities [2] - The edge data center business is gaining momentum, with plans to install 15 edge data centers in Texas this year [2] Company Strategy and Development Direction - The company is pivoting to the edge data center business, with a growing pipeline of opportunities for 2026 [2] - The management team has identified the need to diversify into at least two distinct businesses to achieve significant growth and profitability [5] - The company expects to achieve breakeven to profitability by Q4 2025 [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the guidance issued for the year, citing improved financial conditions compared to the previous year [3] - The company anticipates continued revenue growth in the next two quarters, driven by the execution of the AMA and the deployment of edge data centers [8] - Management highlighted the overwhelming demand for behind-the-meter power solutions for large U.S.-based data center operators [22] Other Important Information - The company raised over $50,000,000 in capital, significantly improving its balance sheet and allowing for expansion into new markets [7] - Current contracts in backlog represent more than $40,000,000 in revenue, with approximately $12,300,000 projected to be recognized in 2025 [18] Q&A Session Summary Question: What is the fully diluted share count? - The fully diluted share count is currently 25,000,000 shares [27] Question: Can you provide insight on noncash stock-based compensation? - Noncash compensation is roughly about $1,000,000 a quarter [30] Question: Will the company consider posting non-GAAP earnings numbers? - The company will consider using non-GAAP financials in the future [31] Question: What is the expected revenue per unit for the edge data centers? - Each edge data center is expected to earn around $300,000 to $500,000 annually once fully operational [37] Question: What is the timeline for cash flow from the edge data centers? - It takes about 90 days to manufacture and deliver an edge data center, followed by approximately two weeks for installation [48] Question: What is the gross profit margin once the edge data centers are operational? - The targeted gross profit margin is in the mid-70s, with EBITDA targeted just above 50% [53]

Financial Data and Key Metrics Changes - For the second quarter of 2025, the company reported revenues of $7.1 million, a 12% increase compared to the same period in 2024 [3][5] - Gross profit for 2025 was $1.4 million, reflecting a gross margin of 20%, which is an improvement of four percentage points from the previous year [4][19] - The net loss for Q2 2025 was $4.3 million, a reduction from a net loss of $4.9 million in Q2 2024 [5] - The company ended the quarter with a cash balance of $3.4 million, up from $2.5 million at the end of Q1 2025 [5][24] Business Line Data and Key Metrics Changes - Revenues from commercial customers increased to 60% of total revenues in 2025, up from 24% in the same period of 2024 [3] - International customers accounted for 37% of total revenues in 2025, compared to only 15% in 2024 [3] Market Data and Key Metrics Changes - The company successfully expanded its market presence with the creation of Beam Middle East, enhancing its global footprint [6][10] - The electric vehicle (EV) market is experiencing significant growth, with a 35% increase in sales in 2025, following a 20% increase in 2024 [12] Company Strategy and Development Direction - The company is focusing on diversifying its customer base away from federal government sales, which previously accounted for a significant portion of revenues [9][11] - Beam Global aims to leverage its international expansion, particularly in Europe and the Middle East, to drive future growth [10][31] - The company is committed to maintaining a debt-free status while reducing operating costs and improving gross margins [7][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the EV market and the corresponding demand for EV charging infrastructure, highlighting the U.S. lagging behind in charging station deployment [14][15] - The company anticipates continued growth in its energy storage business and is optimistic about future opportunities in both the European and Middle Eastern markets [40][48] Other Important Information - The company reported a non-cash impairment of goodwill amounting to $11 million, attributed to a decrease in market capitalization rather than a decline in the actual value of acquisitions [22][23] - Beam Global has implemented lean manufacturing processes in Europe, contributing to improved efficiency and cost reductions [37][88] Q&A Session Summary Question: Is the energy storage opportunity still mostly a U.S. customer business? - The majority of energy storage sales are still U.S.-based, but there are plans to expand into Europe and the Middle East [52][53] Question: Can you discuss the desalination and bike charging equipment sales? - Sales from desalination equipment are currently small but promising, while interest in bike charging products is increasing [56][57] Question: How does Beam Global compete in the DC fast charging market? - The company has a DC fast charging product but believes that Level 2 charging will ultimately dominate the market [62][64] Question: What impact have tariffs had on the company? - Tariffs have had minimal impact so far, but there is concern about future effects as the company navigates cost structures [73][75] Question: Have federal sales conversations picked up post-legislation? - Federal sales have declined significantly, but the company has successfully transitioned to commercial and international sales to offset this loss [78][80]

Financial Data and Key Metrics Changes - For Q2 2025, total revenue was $3.3 million, reflecting a 17% growth compared to 2024, driven by an increase in the number of CapsoCam Plus capsules sold [23][24] - Gross margin for the quarter was 55%, consistent with expectations as the company scales [24] - Net loss was $4.6 million for Q2 2025, compared to a net loss of $5.3 million in Q2 2024 [24] Business Line Data and Key Metrics Changes - As of June 30, 2025, CapsoCam Plus for small bowel screening has been used by over 143,000 patients, with approximately 7,900 patients using the system in 2025, representing a year-over-year growth of 17% [19][20] - New accounts grew by 75% in 2025 compared to the same quarter in 2024, indicating continued physician adoption [22] - A 46% increase in GI clinics and mega GI groups was observed in 2025 over the same quarter last year [22] Market Data and Key Metrics Changes - The market potential for the CapsuleCam colon is estimated to exceed $1 billion, targeting patients at higher risk for colonoscopy-related complications [12] - The company is expanding its pipeline to address other parts of the GI tract, including pancreatic and esophageal varices screening, which represents a significant market opportunity [17][18] Company Strategy and Development Direction - The company aims to leverage its existing sales infrastructure to expand into additional indications, creating cross-sell opportunities without significant increases in headcount [22] - The development pipeline includes the submission of an AI module for CapsoCam Plus to the FDA by late September or early October, which is expected to enhance diagnostic capabilities [10][27] - The company plans to initiate pivotal studies for esophageal varices screening in 2026, further broadening its market opportunity [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's technology, strategy, and team to execute on growth opportunities, particularly in the small bowel market and the integration of AI [27] - The company anticipates stronger sales in Q3 and expects Q4 sales to be historically the highest due to seasonal trends [26] Other Important Information - The company completed its initial public offering on July 3, 2025, receiving total net proceeds of $23.4 million [25] - A development agreement with Canon was announced to design and evaluate next-generation CMOS image sensors, valued at approximately $4.1 million [26] Q&A Session Summary Question: Clarification on colon launch plans - The plan is for the second-generation device, not the initial device submitted [30][31] Question: Timing for the second-generation colon capsule - The submission for the second-generation device is planned for the first quarter, following the first approval [34][35] Question: Details on the Canon arrangement - The agreement includes an upfront payment of $1 million and spans a couple of years, with deliverables tied to the final engineering design [37] Question: Cash burn in the quarter and expectations for the year - Cash burn was around $11.5 million, with expectations of approximately $20 million for the year [40] Question: Timeline for AI feature submission and market receptivity - The AI module is planned for submission in September, with a launch expected next year; doctors are already aware of the feature and receptive to it [42][44] Question: Advantages of in-house AI development - The company has complete control over its AI development, which provides a significant advantage compared to relying on external partners [46]