Crexendo (CXDO) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Jeff Korn - CEO & Executive Chairman of the BoardJon Brinton - CRORon Vincent - CFODoug Gaylor - COO & PresidentAnand Buch - Chief Strategy Officer, GM of Software Division & DirectorMatthew Maus - Equity Research AssociateJesse Sobelson - VP - Equity Research Conference Call Participants Eric Martinuzzi - Senior Research AnalystMike Latimore - Managing Director & Senior Research AnalystGeorge Sutton - Partner & Senior Resea ...

Financial Data and Key Metrics Changes - Dynavax reported its highest ever first quarter net revenue for HEPLISAV B at $65 million, a 36% increase year over year [5][25] - Total revenues for the first quarter reached $68 million, up 34% year over year [25] - HEPLISAV B gross margin improved to 79% from 77% in the same quarter last year [25] - GAAP net loss for the first quarter was $96 million, compared to a net loss of $9 million in the first quarter of the previous year [27][28] - Non-GAAP adjusted EBITDA improved to negative $4 million from negative $7 million year over year [28] Business Line Data and Key Metrics Changes - The retail segment for HEPLISAV B saw a 70% year over year growth in total market dose volume [12][14] - HEPLISAV B's estimated U.S. market share rose to 43% in Q1, up from 41% in the same period last year [15] - The company anticipates continued market share gains throughout 2025, aiming for at least 60% market share by 2030 [16][17] Market Data and Key Metrics Changes - The U.S. adult hepatitis B vaccine market has expanded significantly due to ACIP's universal recommendation, leading to a 16% increase in total market dose volume year over year [12][14] - The company expects the HEPLISAV B market opportunity to peak at over $900 million by 2030 [16] Company Strategy and Development Direction - Dynavax is focused on advancing its development pipeline, leveraging its vaccine adjuvant technology, CpG 1018, with key clinical trial milestones for shingles and plague vaccine programs [5][6] - The company announced new programs in pandemic influenza and Lyme disease, aiming to develop differentiated vaccines with lower risk development pathways [8][9] - The capital allocation strategy includes executing a $200 million share repurchase program while evaluating external opportunities for long-term growth [10][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the top half of the annual revenue guidance range for HEPLISAV B due to strong early performance [5][31] - The company anticipates a banner year in 2025, supported by strong market growth and ongoing adoption of HEPLISAV B [10][32] - Management highlighted the importance of maintaining a disciplined approach to capital allocation and the potential for long-term growth opportunities [10][31] Other Important Information - The company recorded an allowance for doubtful accounts of $11 million related to a legacy COVID-19 adjuvant commercial supply agreement [27] - The company ended the first quarter with cash, cash equivalents, and marketable securities of $661 million, down from $714 million at the end of 2024 [29] Q&A Session Summary Question: Why not officially raise the lower end of guidance if confidence in hitting the upper half? - Management stated it is prudent to maintain the overall guidance range as the year is only one quarter in, despite good progress [34] Question: How does capital allocation and business development fit into the long-term value creation? - Management emphasized a balanced strategy focusing on leveraging core assets, advancing internal development programs, and returning capital to shareholders [36][37] Question: What contributed to the less seasonality observed in the winter of 2024-2025? - Management noted a purposeful focus by retailers on non-flu vaccines, including hepatitis B, contributing to a strong start in Q1 [42][43] Question: Will the upcoming shingles data release be sufficient for a go/no-go decision? - Management clarified that while the data is important, a more comprehensive data package will be needed for a pivotal program decision [44][46] Question: Any issues with discussions with the FDA regarding new vaccine requirements? - Management indicated that they feel insulated from immediate changes and have had positive interactions with the FDA [50][51] Question: How does the Lyme vaccine compare to competitors? - Management believes their Lyme vaccine can establish a leading market share position due to a more approachable dosing regimen compared to competitors [59][60] Question: Is there an explanation for potentially slower growth in HEPLISAV B revenue? - Management stated that year-over-year comparisons are more appropriate and they expect continued growth in market share [70][71]

Grocery Outlet (GO) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Christine Chen - VP & Head of Investor RelationsJason Potter - President and Chief Executive OfficerChris Miller - CFOCorey Tarlowe - SVP - Equity ResearchTom Nass - VP - Equity ResearchJoseph Feldman - Senior MD & Assistant Director - ResearchAnthony Chukumba - Managing DirectorSimeon Gutman - Managing Director Conference Call Participants Anthony Bonadio - AnalystRobbie Ohmes - AnalystMatthew Rothway - AnalystJohn Hein ...

Arcutis Biotherapeutics (ARQT) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Amanda Sheldon - Head of Corporate CommunicationsFrank Watanabe - President & CEOTodd Edwards - CCOPatrick Burnett - Senior VP & Chief Medical OfficerLatha Vairavan - CFOSeamus Fernandez - Senior Managing DirectorUy Ear - Vice PresidentKambiz Yazdi - Vice President - Equity ResearchDouglas Tsao - Managing Director Conference Call Participants Vikram Purohit - Executive Director, Equity AnalystTyler Van Buren - ...

Latham Group (SWIM) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Casey Kotary - DirectorScott Rajeski - President & Chief Executive OfficerOliver Gloe - Chief Financial OfficerRyan Merkel - Co-Group Head–IndustrialsW. Andrew Carter - Vice PresidentAnika Dholakia - AVP - Equity ResearchSean Callan - Community Relations Manager Conference Call Participants Robert Schultz - AnalystGreg Palm - Senior Research Analyst Operator Good day, and welcome to the Latham Group Inc. First Quarter tw ...

Latham Group (SWIM) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Casey Kotary - DirectorScott Rajeski - President & Chief Executive OfficerOliver Gloe - Chief Financial OfficerRyan Merkel - Co-Group Head–IndustrialsW. Andrew Carter - Vice PresidentAnika Dholakia - AVP - Equity ResearchSean Callan - Community Relations Manager Conference Call Participants Robert Schultz - AnalystGreg Palm - Senior Research Analyst Operator Good day, and welcome to the Latham Group Inc. First Quarter tw ...

Masimo (MASI) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Eli Kammerman - Vice President of Business Development & Investor RelationsKatie Szyman - CEOMicah Young - Executive VP & CFORick Wise - Managing Director - Medical Technology & SuppliesMatt Taylor - Managing Director Conference Call Participants Vik Chopra - AnalystJason Bednar - Senior Research AnalystMike Matson - Senior Equity Research AnalystMike Polark - Senior Equity Research Analyst - Medical Devices Operator Good afte ...

Financial Data and Key Metrics Changes - The company reported Q1 revenue of $196 million, a decline of 3% year over year, at the lower end of the target range [7][10] - Excluding certain impacts, Q1 revenue grew 5% year over year [9][22] - Average revenue per test decreased by 4%, while test volume increased by 1% [22][23] - Gross margin improved by 50 basis points to 69% due to lab efficiencies [23][24] - The company updated its 2025 revenue guidance, lowering it by $35 million from the prior midpoint [10][28] Business Line Data and Key Metrics Changes - Prenatal testing revenue grew by 11% year over year, with strong demand for carrier screening and NIPS tests [12][18] - Oncology revenue declined by 2%, with MiRisk test volume growing by 11% year over year [15][16] - GeneSight revenue decreased by 20% year over year, primarily due to UnitedHealthcare's policy change [19][20] - Women's health revenue increased by 4%, driven by prenatal testing, but was partially offset by weakness in unaffected hereditary cancer testing [18][19] Market Data and Key Metrics Changes - The company faced challenges in the unaffected hereditary cancer testing market due to slower EMR integrations and workflow disruptions [13][14] - The overall demand for oncology tests remains consistent with 2024 trends, despite some confusion over updated NCCN guidelines [17][18] - The company continues to see positive momentum from breast cancer risk assessment programs, although they are not yet at scale [14][19] Company Strategy and Development Direction - The company is focusing on oncology as a cornerstone of its strategy, aiming to serve the continuum of cancer care [29][40] - Plans are in place to reduce overall projected spending while prioritizing investments in high-value new product development [10][11] - The management team is committed to simplifying the business narrative and focusing on core growth areas [38][39] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2025 and emphasized the importance of oncology in the company's future [29][39] - The company is optimistic about addressing workflow disruptions and improving test volume growth in the coming quarters [14][39] - Management expressed confidence in the potential for sustained profitable growth and market share increase [30][39] Other Important Information - The company plans to launch several new products, including a combined carrier screening and NIPS assay, and an AI-enabled test by the end of the year [11][12] - An income tax benefit of $29.3 million was recognized in Q1, expected to result in cash tax refunds [25][26] Q&A Session Summary Question: Concerns about the complexity of the company's situation - Management acknowledged the complexity and indicated that it would take several months to simplify the narrative and focus on core growth areas [36][39] Question: Update on GeneSight's revenue headwind - Management confirmed a $10 million revenue headwind in Q1 due to UnitedHealthcare's coverage change, with no expected impact from other payers [46][52] Question: Coverage updates from other payers - Management stated that there have been no indications of coverage changes from other payers and noted some recent wins in coverage [53][54] Question: Impact of UnitedHealthcare on prescription patterns - Management reported no significant changes in provider behavior regarding GeneSight prescriptions despite the coverage changes [55] Question: Details on EMR integration challenges - Management explained that EMR integration for unaffected testing requires additional features and workflows, which take time to implement [68][70] Question: Market growth expectations for Polaris - Management indicated that the market for Polaris is expected to grow at low double-digit rates, with ongoing efforts to enhance competitive positioning [78][79]

LifeVantage (LFVN) Q3 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Reed Anderson - Managing DirectorSteve Fife - President, CEO & DirectorCarl Aure - CFOAaron Wukmir - Healthcare Equity Research AssociateDouglas Lane - Head of Consumer Products Operator Good day, ladies and gentlemen. Thank you for standing by. Welcome to today's conference call to discuss LifeVantage's Third Quarter of Fiscal twenty twenty five Results. At this time, all participants are in a listen only mode. Following ...

Financial Data and Key Metrics Changes - Astera Labs reported quarterly revenues of $159.4 million, representing a 13% increase from the previous quarter and a 144% increase compared to Q1 of the previous year [8][25]. - Non-GAAP gross margins for Q1 were 74.9%, slightly up from the previous quarter, with non-GAAP operating margins at 33.7% [26]. - The company ended the quarter with cash, cash equivalents, and marketable securities totaling $925 million [27]. Business Line Data and Key Metrics Changes - The Ares product family continues to see strong demand, diversifying across GPU and custom ASIC-based systems [8]. - The Taurus product family demonstrated strong growth, driven by deployments in AI and general-purpose systems [8]. - Scorpio PCD switches and 86 retimers are expected to shift from preproduction to volume production in late Q2 [9]. Market Data and Key Metrics Changes - The company is well-positioned to address the emerging opportunity associated with the ULE Link specification, which supports 200 gig per lane connections [12]. - The transition to PCIe 6 and the expected ramp in CXL will drive additional market opportunities for Astera Labs [13][21]. Company Strategy and Development Direction - Astera Labs aims to provide a broad portfolio of connectivity solutions for AI racks, focusing on purpose-built silicon, hardware, and software [9][10]. - The company is increasing investments in R&D to support its vision of owning the connectivity infrastructure within the AI rack [10][15]. - The strategy includes expanding the market opportunity through next-generation standards like PCIe Gen 7 and 800 gig Ethernet [13]. Management's Comments on Operating Environment and Future Outlook - Management noted that while there are concerns regarding CapEx spending and trade restrictions, they have not seen a material impact on their business from tariffs [32][33]. - The company remains confident in its growth outlook, expecting Q2 revenue to increase to between $170 million and $175 million, a 7% to 10% increase from the prior quarter [27][28]. - Management emphasized the importance of diversifying revenue streams across both custom ASIC and merchant GPU platforms [36]. Other Important Information - The company announced the appointment of Dr. Craig Barrett to its board of directors, bringing valuable experience to support its growth strategy [9]. - Astera Labs is focusing on a holistic approach to connectivity solutions, integrating various products and software to enhance performance and observability [70]. Q&A Session Summary Question: Concerns on CapEx spending momentum and demand outlook - Management has not seen a material impact from tariffs but is monitoring the situation closely. They noted that hyperscalers have maintained their CapEx, which is encouraging [32][33]. Question: Scale-up opportunities and timing - Management highlighted that scale-up presents a significant opportunity, with expectations for continued growth as cluster sizes and data rates increase [41][42]. Question: Impact of China restrictions on sales - The impact from China is modest, with revenues from China being less than 10% of total revenues, making it manageable [57][58]. Question: Transition to custom racks and mix assumptions - The transition to custom racks is driven by customer needs to optimize their existing data centers, but specific mix assumptions are difficult to provide due to evolving customer requirements [94].