Financial Data and Key Metrics Changes - In Q1 2025, Zimmer Biomet reported net sales of $1.909 billion, reflecting a 1.1% increase on a reported basis and a 2.3% increase excluding foreign currency impact [27] - Adjusted earnings per share (EPS) for the quarter was $1.81, down from $1.94 in the prior year, attributed to higher costs and investments [32] - The company generated $279 million in free cash flow, demonstrating robust growth compared to the previous year [26] Business Line Data and Key Metrics Changes - U.S. hips sales grew nearly 4%, while U.S. knees saw a modest growth of 0.2% [29] - The S.E.T. segment grew by 4.9%, with notable growth in CMFT and Sports categories [30] - International sales grew by 3.7%, driven by mid-single digit growth in knees and high-single digit growth in S.E.T. [28] Market Data and Key Metrics Changes - The U.S. market showed a 1.3% growth overall, with hips and S.E.T. driving performance [27] - Internationally, hips grew by 2.4%, with U.S. hips growing at 3.7% and international hips at 1% [29] - The company anticipates a full-year organic constant currency revenue growth of 3% to 5% for 2025 [10] Company Strategy and Development Direction - Zimmer Biomet is focusing on three strategic priorities: people and culture, operational excellence, and innovation and diversification [12] - The company aims to enhance its U.S. market performance through leadership changes and optimizing sales channels [14] - The recent acquisition of Paragon 28 is expected to contribute approximately 270 basis points to sales growth in 2025 [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the full-year guidance despite challenges such as tariffs and foreign exchange impacts [34] - The company is optimistic about new product launches and expects second-half growth to be higher than the first half due to favorable comparisons and new product uptake [35] - Management acknowledged the need for improved performance in the U.S. knee segment and is implementing strategies to enhance competitiveness [81] Other Important Information - The company reported a reduction in days on hand inventory from over 400 days in early 2024 to approximately 370 days [15] - The Paragon 28 acquisition was successfully integrated with minimal disruption, retaining key leadership and sales teams [110] Q&A Session Summary Question: Impact of tariffs on EPS and mitigation efforts - Management detailed steps taken to mitigate tariff impacts, including optimizing country of origin and sourcing adjustments, expecting a $60 million to $80 million headwind for 2025 [45][46] Question: Growth expectations and new product impacts - Management indicated confidence in achieving mid-single digit growth in the second half of 2025, driven by new product launches and improved execution [56][57] Question: Performance in ASC versus hospital channels - The company noted that over 20% of U.S. sales now come from the ASC environment, with expectations for continued growth in this area [94] Question: Pricing trends and future expectations - Management expects pricing to remain flat for 2025, with a stable environment compared to historical norms, despite previous fluctuations [68][69] Question: Clarification on the Paragon acquisition integration - The integration of Paragon 28 is progressing well, with all key personnel retained and ongoing product innovations maintained [110]

Financial Data and Key Metrics Changes - U.S. net product revenue for Q1 2025 was approximately $119.7 million, reflecting a 137% increase year-over-year and a 16% increase sequentially from Q4 2024 [14][23] - GAAP net income for the quarter was approximately $5 million, or $0.03 per diluted share [24] - The company closed the quarter with $276 million in cash, cash equivalents, and investment securities, indicating a strong financial position [24] Business Line Data and Key Metrics Changes - BRIONVI U.S. net sales reached nearly $120 million in Q1 2025, exceeding expectations and demonstrating strong adoption by healthcare providers [5][14] - The first three months of 2025 marked the highest total new patient enrollment since the product launch, indicating accelerating demand [15] - Repeat prescriptions have now surpassed new prescriptions for the first time, signaling strong persistence trends [17] Market Data and Key Metrics Changes - The company is capturing approximately 25% of the IV segment market share, with continued growth in patient enrollments [29] - The hospital setting contributed approximately 60% of enrollments in March, the highest percentage to date [16] Company Strategy and Development Direction - The company aims to make BRIONVI the number one prescribed anti-CD20 therapy by focusing on a multi-phase launch strategy and enhancing the patient experience [8][12] - Plans include launching a direct-to-patient television commercial campaign and preparing for lifecycle innovations, including a subcutaneous formulation [19][21] - The company is also exploring new indications for BRIONVI, such as myasthenia gravis, while advancing its CAR T cell therapy pipeline [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth and potential for BRIONVI, citing strong demand and increasing prescriber confidence [20][21] - The company is monitoring potential tariffs but does not anticipate a material impact on gross margins or overall financial performance [26] Other Important Information - The ENHANCE clinical trial is evaluating strategies to simplify the patient experience, with positive feedback on a streamlined infusion regimen [9][10] - The company is on track to launch pivotal trials for both the simplified starting dose and the subcutaneous formulation of BREONVY [52][68] Q&A Session Summary Question: Competitive dynamics with OCREVUS and new patient share - Management noted strong patient enrollments and market share gains, with no impact from OCREVUS observed [29][30] Question: Update on gross to net trends and gross margin - No material change in gross to net was reported, and the pre-launch inventory reserve has been fully depleted, leading to consistent margins going forward [37][38] Question: Subcutaneous BREONVY pivotal trial details - The pivotal trial is expected to include two dosing regimens, with data anticipated later this year [41][42] Question: Physician feedback on the thirty-minute infusion - Positive feedback was received, indicating convenience for infusion centers and patients [49] Question: Phase III trial scale and profitability outlook - The company is not focused on profitability this year but aims to drive cash through the business while meeting revenue targets [54][55] Question: Update on North Carolina manufacturing plant - The North Carolina facility will take several years to reach commercial scale manufacturing [57][58] Question: Product adherence and trends - Persistence trends remain strong and above expectations, with no material changes in switch rates from OCREVUS [63][71]

Financial Data and Key Metrics Changes - In 2024, the company's full year revenue increased by 32%, reaching $45 billion, with fourth quarter revenue growing by 45% [19] - The company invested nearly $11 billion in R&D, representing about 24% of its revenue, with an 18% year-over-year increase [19] - A new $15 billion share repurchase program was announced, marking the seventh consecutive year of a 15% increase in quarterly dividends [19] Business Line Data and Key Metrics Changes - The performance of Monjaro, Zepbound, and Verzenio significantly contributed to revenue growth [16] - The company launched five new medicines since 2022, including Evolus, Jaypirca, Kisunla, Monjaro, Zepbound, and Omvoh, enhancing patient reach [18] Market Data and Key Metrics Changes - The company expanded its manufacturing capacity to meet increasing demand and opened new facilities, including the Lilly Seaport Innovation Center in Boston and a Lilly Gateway Lab in the UK [20][21] - A major investment in the United States was announced, bringing total manufacturing commitments since 2020 to over $50 billion [21] Company Strategy and Development Direction - The company remains focused on solving serious healthcare problems and aims to deliver life-changing medicines to millions [16] - The long-term balanced growth strategy includes advancements in obesity, diabetes, oncology, neuroscience, and immunology [16] - The company is complementing its pipeline through acquisitions and collaborations, such as acquiring Morphic Therapeutics and partnering with OpenAI [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for significant growth from late-stage readouts in 2025 [17] - The company is committed to enhancing supply chain resilience and creating high-paying jobs through its investments [21] - Management emphasized the importance of their workforce and collaborations in achieving their goals [22] Other Important Information - The proposals to amend the articles of incorporation regarding the board structure and voting provisions did not receive the required votes [15] Q&A Session Summary Question: Does the compensation committee use the compensation actually paid total in setting the CEO target total compensation award for the coming year? - Management clarified that the compensation actually paid is not used to set the target compensation, as it reflects a mark-to-market value rather than actual compensation [26][28] Question: How much training is provided to employees to prevent clicking on links resulting in malware or breaks in cybersecurity? - Management confirmed that a comprehensive cybersecurity program is in place, including training to prevent incidents related to malware [29]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was approximately $383 million, reflecting a reported growth of 3.7% and an organic decline of 3.5% compared to the previous year [7][23] - Adjusted EPS for the quarter was $0.41, down 25% compared to 2024 [23] - Gross margins were 52.2%, down 220 basis points from 2024, impacted by manufacturing variances and increased network optimization spending [24] - Adjusted EBITDA margins were 16.6%, down 290 basis points compared to 2024 [24] - Operating cash flow for Q1 was negative $11.3 million [24] Business Line Data and Key Metrics Changes - Codman Specialty Surgical (CSS) segment reported revenues of $281 million, with a reported growth of 9.4% and an organic decline of 1.1% [25] - Tissue Technologies revenues were $102 million, down approximately 9% on both a reported and organic basis [28] - The ENT business saw approximately $29 million in revenue from the Aclaren acquisition, with organic growth being flat due to supply constraints [25] Market Data and Key Metrics Changes - Global neurosurgery revenues declined 4.7% organically, primarily due to ship holds affecting several product lines [25] - International performance within CSS declined by high single digits, attributed to the timing and duration of ship holds [27] - Sales in wound reconstruction were down due to Integra Skin and ship holds on other products [28] Company Strategy and Development Direction - The company is focused on a turnaround strategy, emphasizing portfolio prioritization and disciplined program management to enhance operational execution [9][10] - A compliance master plan is in place to address quality system regulations and FDA observations, with significant progress reported in site assessments [12][14] - Investments are being made in manufacturing infrastructure to support long-term sustainable growth [8][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth potential of the specialized product portfolio despite current challenges [8] - The anticipated revenue headwinds from ship holds are within the assumptions made when setting guidance [20] - The company expects a revenue range of $390 million to $400 million for Q2 2025, reflecting a decline due to ship holds [19][35] Other Important Information - The company identified additional ship holds for certain products, now expecting total ship holds for the year to be between $55 million and $70 million [13][36] - The impact of recently announced global tariffs has been incorporated into the updated 2025 guidance, estimated at approximately $22 million [20][33] Q&A Session Summary Question: Guidance for Q2 and confidence in the second half of the year - Management acknowledged the impact of newly identified ship holds on Q2 guidance but noted that the guidance reflects improved production and normal seasonality [44][45] Question: Tariff impact and mitigation efforts - Management confirmed that several mitigation strategies are being pursued, including tariff exemptions and sourcing optimization, but did not include their impacts in the current guidance [47][49] Question: Demand for private label products - Management anticipates a step-up in private label demand in the second half of the year, although the forecast has been adjusted to reflect a low single-digit decline for the full year [53] Question: Remediation efforts and FDA compliance - Management is on track to complete assessments and remediation plans by year-end, with ongoing dialogue with the FDA regarding compliance [78][80] Question: Impact of ship holds on revenue guidance - Management indicated that the updated guidance allows for additional supply disruptions while still achieving the high end of the revenue range [71]

Exagen (XGN) Q1 2025 Earnings Call May 05, 2025 08:30 AM ET Speaker0 Greetings, and welcome to the Exagen Inc. First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Ryan Douglas, Investor Relations for Exagen Inc. Thank you. You may begin. Speaker1 Good morning, and th ...

Financial Data and Key Metrics Changes - The company reported quarterly revenue of $145.5 million, with $134 million attributed to Orlodayo, marking a significant increase from the previous year [6][28] - Annual revenue guidance for Orlodayo has been raised to between $580 million and $600 million, reflecting a growth of 33% to 37% over last year [6][29] - Operating profit for Q1 2025 was $21.2 million, with net income reported as slightly positive [29] - Cash at the end of the quarter stood at $317 million, and the company reduced its outstanding debt by $75 million, bringing it down to $249 million [28][30] Business Line Data and Key Metrics Changes - The U.S. commercial team successfully transitioned patients from free drug to paid status, achieving a 10 percentage point increase in the paid patient rate, now at 84% [10][12] - The paid rate among Medicare patients improved significantly, with 89% now receiving paid therapy [93] - The gross to net ratio improved, with expectations to maintain it around 15% for the full year [14][51] Market Data and Key Metrics Changes - The company noted a strong demand for Orlodayo, with new prescriptions slightly exceeding the best quarter from the previous year [8][10] - The percentage of U.S. patients who strongly prefer oral prophylaxis increased to 70%, up from 51% in 2023 [10] - The company anticipates reaching $1 billion in global revenue by 2029, with a more profitable path than previously expected [13][64] Company Strategy and Development Direction - The company is focusing on expanding its pipeline, with significant milestones achieved, including the submission of a pediatric NDA for Orlodayo [16] - The company aims to capture more revenue from Orlodayo as the patient base continues to grow, with a long-term goal of 85% paid therapy [12][13] - The company is committed to disciplined capital allocation to create sustainable long-term revenue growth while reducing debt [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of the paid rate improvement, viewing 84% as a new floor for future performance [118] - The company is optimistic about the impact of the Inflation Reduction Act on patient affordability and access to Orlodayo [11][57] - Management highlighted the importance of real-world evidence in convincing payers of the drug's efficacy, which has improved payer conversations [94] Other Important Information - The company is preparing for the launch of a pediatric formulation of Orlodayo, with expectations for rapid deployment following approval [106] - The company is also advancing its clinical pipeline, with a focus on rare diseases and the potential for transformative treatments [16][18] Q&A Session Summary Question: What is the potential impact of the pediatric launch on Orlodayo? - Management expects the pediatric launch to be a significant tailwind, with around 500 pediatric patients in the U.S. potentially appropriate for prophylactic therapy [35][36] Question: Can you elaborate on the improvements in getting patients onto paid drug? - The team made investments in the reauthorization process and improved their execution, leading to a higher paid rate [46][47] Question: What benchmarks are being set for the DME program? - The company is looking for a clear reduction in retinal edema as a benchmark for moving forward with the DME program [41][97] Question: How sustainable is the paid rate improvement? - Management believes the paid rate improvement is sustainable, with 84% being a new baseline for future performance [118] Question: What is the expected timeline for the pediatric formulation launch? - The company aims to minimize the lag time between approval and market availability, similar to previous launches [106][107]

Twist Bioscience (TWST) Q2 2025 Earnings Call May 05, 2025 08:00 AM ET Company Participants Angela Bitting - SVP - Corporate Affairs & Chief Corporate Responsibility OfficerEmily Leproust - CEO and Co-FounderPatrick Finn - President & COOAdam Laponis - Chief Financial OfficerSubbu Nambi - Managing DirectorDoug Schenkel - Managing DirectorPuneet Souda - Senior MDTom Peterson - Senior Research Associate Conference Call Participants Luke Sergott - AnalystMatthew Sykes - AnalystVijay Kumar - AnalystMatt Larew - ...

Twist Bioscience (TWST) Q2 2025 Earnings Call May 05, 2025 08:00 AM ET Speaker0 day. Thank you for standing by. Welcome to Twist Bioscience's Second Quarter Financial Results Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. Please note that today's conference is being recorded. I would now like to turn the call over to Angela Bidding, SVP of Corporate Affairs. Please go ahead. Speaker1 Thank you, operato ...

Recursion Pharmaceuticals (RXRX) Q1 2025 Earnings Call May 05, 2025 08:00 AM ET Speaker0 Hi, everybody. My name is Chris Gibson, cofounder and CEO of Recursion, and I'm delighted to welcome you to our learnings call this morning. We're gonna go ahead and get started. Perfect. So, of course, important to note that we're gonna be providing forward looking information today, so please understand all of these important caveats. So I wanna begin by just talking a little bit about Recursion's mission, which is to ...

Henry Schein (HSIC) Q1 2025 Earnings Call May 05, 2025 08:00 AM ET Speaker0 Good morning, ladies and gentlemen. Welcome to Henry Schein's First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in listen only mode. Later, we'll conduct a question and answer session. Please press the star key followed by one on your touch tone phone if you'd like to ask a question at the end of the call. If anyone should require operator assistance during the call, please press the star ...