Financial Data and Key Metrics Changes - Revenue for Q1 was $706 million, in line with expectations, with an aggregate gross margin of 15% reflecting lower production rates and deliveries compared to Q4 [15][18] - Operating income was $61 million, approximately 9% of revenue, with diluted EPS at $1.14 and EBITDA for the quarter at $98 million, or 14% of revenue [15][18] - Liquidity reached over $895 million, the highest in 20 quarters, consisting of more than $300 million in cash and $535 million in available borrowing capacity [16] Business Line Data and Key Metrics Changes - Global orders for approximately 3,700 railcars valued at roughly $550 million were received, with a backlog of approximately 16,300 units valued at about $2.2 billion [11][12] - The leasing and fleet management business maintained high utilization at nearly 98%, with strong retention and improving economics on renewals [12][13] - The size of the fleet remained stable, with capital recycled through opportunistic asset sales in a strong secondary market [13] Market Data and Key Metrics Changes - Customers in North America and Europe are cautious about capital investments due to current freight volumes and trade policy considerations, impacting the timing of new railcar orders [6][8] - Market conditions in Europe remain complex, affecting performance due to operational inefficiencies, while Brazil's economic conditions are stable with steady customer engagement [8] Company Strategy and Development Direction - The company is focused on aligning manufacturing with current demand levels while investing in efficiency and cost discipline [7][9] - Capital allocation priorities include maintaining balance sheet strength, returning capital to shareholders, and deploying capital where returns are strongest [9][17] - The company reiterated its Fiscal 2026 guidance, projecting new railcar deliveries of 17,500-20,500 units and revenue between $2.7-$3.2 billion [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating current market conditions and positioning for long-term value creation, emphasizing the importance of execution [5][10] - The uncertainty surrounding trade and tariff policies has created a cautious environment for customers, but pent-up demand is beginning to release [6][38] - Management remains optimistic about the durability of customer demand and the company's competitive position despite intense competition [6][11] Other Important Information - The company declared a dividend of $0.32 per share, marking the 47th consecutive quarterly dividend [17] - The methodology for allocating syndication activity was changed, reflecting syndication in the manufacturing segment instead of leasing and fleet management, with no impact on consolidated results [16] Q&A Session Summary Question: Visibility into second half delivery growth - Management indicated good visibility into the second half of the year, expecting year-over-year growth due to ramping up production [22] Question: Impact of Venezuela on manufacturing - Management stated there are no expected impacts from Venezuela on their business, as there is no overlap with operations in Brazil [23] Question: Customer ordering behavior in December and January - Management noted an increase in order activity towards the end of Q3 and continuing into Q1, with December showing unusually high deliveries [25] Question: Lease rates and renewal expectations - Lease rates for specialty cars have remained stable, with double-digit increases in renewal rates year-over-year [27][29] Question: Tariff impacts on business - Management described tariffs as neutral to financial performance but noted that uncertainty has caused customers to pause on capital commitments [36][38] Question: Engagement in USMCA review - Management expressed strong support for USMCA and emphasized the importance of the free flow of rail cars across borders for the economy [44] Question: Production cadence and visibility for the year - Management confirmed that order activity is improving, and they are planning to ramp up production in the back half of the year [49]

Attacking Bladder Cancer for a Better Tomorrow | 1 Disclaimer and Forward -Looking Statements We caution you that this presentation contains forward -looking statements about us and our industry. All statements other than s tatements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy, rese arch and development plans, the anticipated timing, costs, design and conduct of our ongoing and planned clinical ...

Financial Data and Key Metrics Changes - Total revenue decreased by 3% to $18.4 million, with adjusted EBITDA at $3.5 million and adjusted EPS at $0.13 [4][8] - Total gross margin improved to 59%, with software gross margin at 84% and services gross margin at 36%, compared to 54%, 75%, and 26% respectively in the prior period [10][11] - The company ended the quarter with $35.7 million in cash and short-term investments, maintaining a strong capital position with no debt [11] Business Line Data and Key Metrics Changes - Software revenue decreased by 17%, contributing 48% of total revenue, while services revenue increased by 16%, contributing 52% of total revenue [8] - Discovery products accounted for 15% of software revenue, development products for 81%, and clinical ops products for 4% [8] - Services revenue from development services represented 71% and commercialization services represented 29% of total services revenue [9] Market Data and Key Metrics Changes - The company reported an 88% renewal rate for the quarter, with an average revenue per client of $97,000 [8] - The ending backlog for services increased by 18% to $20.4 million from $17.3 million last year, indicating a healthy pipeline of services projects [9] Company Strategy and Development Direction - The company aims to advance towards an integrated product ecosystem combining validated science, cloud-scale performance, and AI-driven services [5][13] - Strategic acquisitions and ongoing investment in scientific engines are key to broadening the company's reach and impact in the market [13] Management's Comments on Operating Environment and Future Outlook - Management noted positive trends in the macro environment, including the stabilization of Most Favored Nation pricing agreements and an improving biotech funding environment [4] - There is optimism regarding increased client spending, which is expected to lead to higher software activity in the future [4][17] Other Important Information - The company maintains its fiscal year 2026 guidance for total revenue between $79-$82 million, with year-over-year revenue growth between 0-4% [11] - The company plans to hold an investor day on January 21st to provide more insights into its strategy and product roadmap [67] Q&A Session Summary Question: Can you provide more details on the positive commentary regarding Most Favored Nations and lower tariff risks? - Management indicated that stabilization in pricing agreements and reduced tariff threats are positively impacting client budgets, leading to increased proposals and contracts [16][17] Question: What is the expected mix cadence for software in the remaining quarters? - Management confirmed no change in guidance for software service mix, with expectations for stronger performance in the second and third quarters due to seasonal renewals [24][25] Question: Did consolidation in large pharma impact software renewals in the first quarter? - Management noted no significant impact from consolidation in the first quarter, with expectations that the current acquisition activity will not heavily affect renewals [26][28] Question: How is the integration of AI with the core platform progressing? - Initial AI features have received favorable responses, and the company is exploring monetization opportunities through new modules and pricing adjustments [62] Question: Is the growth in commercialization services mainly from Pro-ficiency? - Yes, the growth in commercialization services is attributed to the Pro-ficiency acquisition, particularly in medical communications [52][54]

Financial Data and Key Metrics Changes - In the third quarter, net revenues decreased to $7 million from $11.1 million year-over-year [5] - Average active brand partners fell to 5,100 from 12,400 [5] - Earnings before income taxes improved to $10.6 million from a loss of $1.1 million in the prior year [5] - Net earnings for the quarter were $7.8 million compared to an $800,000 loss last year [5] - Year-to-date net revenues were $18.7 million, down from $27.6 million [6] - Year-to-date earnings before income taxes were $7.4 million compared to a loss of $5.3 million last year [6] - Year-to-date net earnings totaled $5.4 million compared to a $3.9 million loss last year [6] Business Line Data and Key Metrics Changes - The company launched the Gathered Goods fundraising program, which is expected to improve margins and scalability [8][10] - The Book Friday promotion drove strong engagement, reinforcing the value of the catalog [9] - Despite a decline in brand partner count, remaining partners are more productive and engaged [10] Market Data and Key Metrics Changes - The company reported a decrease in inventory levels from $44.7 million to $39.1 million, generating $5.6 million in cash flow from inventory reductions [6][7] - At the end of the quarter, cash was $3.4 million, receivables were $800,000, and accounts payable were $2.0 million [7] Company Strategy and Development Direction - The sale of the Hilti Complex allows the company to move forward without bank restrictions, focusing on growth and profitability [3][12] - The company plans to increase brand partner counts and has a refreshed marketing strategy targeting Gen Z [14] - An AI task force has been established to explore automation and transformational ideas [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth due to a committed leader base and more productive brand partners [11] - The company is preparing to execute a growth plan now that bank restrictions have been lifted [12][15] - Management acknowledged the challenges faced in recent years but is confident in the company's ability to emerge stronger [16][17] Other Important Information - The company has no bank debts following the sale of the Hilti Complex, which is expected to positively impact cash flows by approximately $1 million per year [12] - Inventory is fully insured at replacement cost, with about 50% related to Usborne [25][30] Q&A Session Summary Question: Has the sale of the building reinvigorated the salesforce? - Management noted increased activity in leader promotions and excitement among brand partners, indicating a positive shift [19][20] Question: Is there a new credit line in place? - Management is in discussions with banks for a new relationship but currently has sufficient cash [22][23] Question: Is the inventory fully insured? - Yes, inventory is insured at replacement cost [24][25] Question: What percentage of inventory could become outdated? - Historically, the company has not written down inventory and does not typically offload titles [26][27] Question: What is the status of the relationship with Usborne Publishing? - There has been no negative change, and Usborne is eager for the company to resume ordering titles [32][33] Question: What are the plans for the excess land beside the Hilti Complex? - The company is holding onto the land for now, with potential development options being considered [34]

Tilray Brands (NasdaqGS:TLRY) Q2 2026 Earnings Call January 08, 2026 04:30 PM ET Company ParticipantsBerrin Noorata - Chief Corporate Affairs and Communications OfficerAaron Grey - Managing DirectorBill Kirk - Managing DirectorFrederico Gomes - DirectorIrwin Simon - Chairman and CEOPablo Zuanic - Managing PartnerCarl Merton - CFOConference Call ParticipantsVictor Ma - AnalystOperatorThank you for joining today's conference call to discuss Tilray Brands' financial results for the second quarter fiscal year 2 ...

Tilray Brands (NasdaqGS:TLRY) Q2 2026 Earnings Call January 08, 2026 04:30 PM ET Company ParticipantsBerrin Noorata - Chief Corporate Affairs and Communications OfficerAaron Grey - Managing DirectorBill Kirk - Managing DirectorFrederico Gomes - DirectorIrwin Simon - Chairman and CEOPablo Zuanic - Managing PartnerCarl Merton - CFOConference Call ParticipantsVictor Ma - AnalystOperatorThank you for joining today's conference call to discuss Tilray Brands' financial results for the second quarter fiscal year 2 ...

Financial Data and Key Metrics Changes - In the third quarter, net revenues decreased to $7 million from $11.1 million year-over-year, while year-to-date revenues fell to $18.7 million from $27.6 million [5][6] - Average active brand partners dropped to 5,100 in Q3 from 12,400, and year-to-date average active brand partners decreased to 6,200 from 13,300 [5][6] - Earnings before income taxes improved to $10.6 million from a loss of $1.1 million in Q3 last year, while year-to-date earnings before income taxes were $7.4 million compared to a loss of $5.3 million [5][6] - Net earnings for the quarter were $7.8 million compared to an $800,000 loss last year, and year-to-date net earnings were $5.4 million compared to a $3.9 million loss [5][6] - Earnings per share rose to $0.91 from a loss of $0.10 in Q3 last year, and year-to-date earnings per share increased to $0.63 from a loss of $0.47 [5][6] Business Line Data and Key Metrics Changes - The company launched the Gathered Goods fundraising program, which allows for custom products and better margin control, marking a strategic shift from the previous Cards for a Cause program [8][10] - The Book Friday promotion was highlighted as a significant marketing strategy, driving customer engagement despite a decline in brand partner count [9][10] Market Data and Key Metrics Changes - The company reported a decrease in inventory levels from $44.7 million at the beginning of fiscal year 2026 to $39.1 million at the end of November, generating $5.6 million in cash flow from inventory reductions [6][7] - The company maintained a cash position of $3.4 million and had no bank debt following the sale of the Hilti Complex [6][7] Company Strategy and Development Direction - The company aims to return to growth and profitability in fiscal 2027, focusing on increasing brand partner counts and launching new products to energize sales [3][12] - A refreshed marketing strategy targeting Gen Z is being developed to attract new brand partners [13][14] - The company is exploring AI applications to automate tasks and enhance operational efficiency [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing a committed leader base and more productive brand partners as key factors for growth [11][12] - The management acknowledged the challenges faced in recent years due to bank restrictions but is now positioned for growth following the sale of the Hilti Complex [12][16] Other Important Information - The company has a 17-acre tract of excess land beside the Hilti Complex, which is being held for potential future development or sale [32] Q&A Session Summary Question: Has the sale of the building reinvigorated the salesforce? - Management noted increased activity in leader promotions and excitement among brand partners following the sale, indicating a positive shift [18][19] Question: Is there a new credit line in place? - Management is in discussions with banks for a new banking relationship but currently maintains a sufficient cash position [20][22] Question: Is the inventory fully insured? - The inventory is insured at replacement cost, ensuring that the value on the books matches the insurance coverage [23][24] Question: What percentage of inventory could be out of date? - Management stated that historically, they have not written down inventory and do not typically offload titles, indicating confidence in inventory value [25][26] Question: What is the status of the relationship with Usborne Publishing? - There has been no negative change in the relationship, and Usborne is eager for the company to resume ordering titles [30][31] Question: What are the plans for the excess land beside the Hilti Complex? - The land is currently being held with potential for development or sale, and there has been interest from external parties [32]

Ascendis Pharma (NasdaqGS:ASND) Update / Briefing January 08, 2026 04:30 PM ET Company ParticipantsJoseph Schwartz - Senior Managing DirectorTazeen Ahmad - Managing Director in US Equity ResearchScott Smith - EVP and CFODerek Archila - Managing DirectorYun Zhong - Senior Vice President of Equity ResearchLi Watsek - DirectorGavin Clark-Gartner - Managing Director of Biotechnology Equity ResearchJan Møller Mikkelsen - President and CEOAimee Shu - EVP and Chief Medical OfficerMaxwell Skor - Vice President of B ...

Financial Data and Key Metrics Changes - The company reported a record Q2 net revenue of $218 million, with an adjusted EBITDA of $8.4 million and a reported EPS loss of $0.02, reflecting a significant improvement in performance metrics [4][22]. - The net loss for the quarter was $43.5 million, a 49% improvement year-over-year compared to $85.3 million, with cash flow used in operations reduced to $8.5 million from $40.7 million last year [27][28]. Business Line Data and Key Metrics Changes - Cannabis revenue increased to $68 million, with international cannabis revenue growing 36% year-over-year and 51% sequentially to $20 million [9][22]. - Beverage revenue totaled $50 million, impacted by headwinds in the craft beer segment, while distribution revenue grew by 26% year-over-year to $85 million [11][23]. - Wellness revenue remained flat at $14.6 million, driven by innovation in product offerings [20][24]. Market Data and Key Metrics Changes - The Canadian adult-use cannabis sales channel net of excise tax grew to $46 million, with recreational cannabis growing 6% in the quarter [12][22]. - The international cannabis market, particularly in Europe, is seen as a significant growth opportunity, with expectations for continued expansion in Germany, the UK, and Poland [10][39]. Company Strategy and Development Direction - The company aims to leverage its strong balance sheet and liquidity to capitalize on regulatory changes in the cannabis industry, particularly in the U.S. [5][29]. - The strategic focus includes enhancing operational efficiency in the beverage segment and expanding pharmacy reach in Germany through Tilray Pharma [11][18]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory for the second half of fiscal 2026, citing a diversified platform and improving fundamentals [21][29]. - The company is preparing for potential regulatory changes in the U.S. that could significantly impact the cannabis market, particularly with the rescheduling of cannabis [6][54]. Other Important Information - The company operates more than 40 brands in over 20 countries and is a leader in the cannabis market, with a strong position in both the Canadian and international markets [5][6]. - The company has a robust cash position of approximately $292 million, providing flexibility for strategic opportunities [5][28]. Q&A Session Summary Question: What can the industry do to improve the regulatory outcome regarding the intoxicating hemp ban? - Management is working with legislators to extend the deadline or modify regulations to allow for a regulated amount of milligrams to be sold nationally [30][31]. Question: Can you quantify how much supply was held back from the Canadian market? - Approximately $5 million worth of supply was held back to redeploy into higher-margin international markets [32]. Question: What drove the substantial increase in distribution sales? - The increase was driven by new distribution channels and competitive pricing, with a focus on high-margin SKUs [34][36]. Question: What are the expectations for growth within the Canadian market? - Management expects mid- to high single-digit growth in the Canadian market, supported by new product launches and strong demand [40][41]. Question: Can you provide more color on the CC Pharma business and its distribution reach? - The company aims to triple its distribution reach in Germany, leveraging its sales organization to sell more medical cannabis [44][46]. Question: What is the long-term outlook for the beverage business? - Management remains confident in the beverage business, emphasizing the importance of integration and the potential for future growth, particularly with cannabis-infused drinks [51][53].

Krystal Biotech (NasdaqGS:KRYS) Update / Briefing January 08, 2026 04:30 PM ET Company ParticipantsKrish Krishnan - CEODavid Sweet - Director of Clinical DevelopmentJorge Lascano - Professor of MedicineSuma Krishnan - President of Research and DevelopmentTrevor Parry - VP of Product DevelopmentConference Call ParticipantsGautam Chukka - Research AnalystJoe Pantginis - Director of Research and Senior Healthcare AnalystRitu Baral - Managing Director and Senior Biotechnology AnalystRoger Song - Senior AnalystA ...