Financial Performance & Outlook - Total revenue for 2025 is projected to be between $352 million and $357 million, representing an 8.1% increase at the midpoint compared to $328 million in 2024[9] - Adjusted EBITDA for 2025 is guided between $113 million and $118 million, a 21.6% increase at the midpoint from $95 million in 2024[9] - Capital expenditures, net of government grant reimbursements, are expected to be between $260 million and $290 million, a decrease of 8.3% from $300 million in 2024[9] - Adjusted EBITDA for the three months ended June 30, 2025, was $28388 thousand with a margin of 32%, compared to $23289 thousand and a 27% margin for the same period in 2024[36] Glo Fiber Expansion Markets - Glo Fiber added 5,700 new subscribers[5] - Glo Fiber expanded by over 16,000 new passings[5] - Glo Fiber revenue experienced a 40.5% growth[5] Broadband Metrics - Broadband average revenue per user (ARPU) in Glo Fiber Expansion Markets was $76.72 in Q2 2025, compared to $77.56 in Q2 2024[37] - Total broadband revenue increased from $39816 thousand in Q2 2024 to $44770 thousand in Q2 2025[37] - Total broadband revenue generating units (RGU) increased from 162,577 in Q2 2024 to 185,293 in Q2 2025[37] Commercial Fiber - The company had another record quarter for Commercial Fiber sales bookings[5]

Perkinamine® Reliability Breakthrough - The company's thin-film devices with second-generation proprietary encapsulation barrier successfully passed the Telcordia GR-468 85/85 environmental stress test, validating long-term reliability[6] - Absorbance measurements showed only a 1.6% average loss after 1,000 hours under 85°C and 85% relative humidity, exceeding Telcordia GR-468 requirements[7,8] - The oxygen transmission rate (OTR) of the fourth-generation atomic layer deposition (ALD) encapsulation material is 1.4 × 10⁻⁶ g/m²/day, approaching the measurement limit and far exceeding the "gold-box" standard of 7 × 10⁻⁶ g/m²/day[9,14] Commercial Impact & Next Steps - Positive reception from key customers, increasing industry confidence in materials readiness after sharing 85/85 success results[10,11] - The company is preparing the fourth-generation encapsulation material for its next-release back-end-of-line (BEOL) Process Design Kit (PDK) for integration into silicon photonics foundries[14] - The next step is to demonstrate reliability on devices in partnership with customers, focusing on continuous improvement of materials, process, and encapsulation[13] Market & Strategy - The company is focusing on execution and planning for production scale to seize growth opportunities presented by the AI market[15] - Co-Packaged Optics (CPO) is emerging as a new market requiring high density ports, high bandwidth (400G+), and low power, which is an excellent fit for Perkinamine® technology[17,21] - The company reaffirms its expectation to have 3-5 customers in Stage 3 by year-end 2025[26]

Q2 2025 Financial Performance - Illumina's Q2 2025 revenue reached $1.06 billion, a decrease of 3% year-over-year (YoY) on both a constant currency (CC) and reported basis[7] - The non-GAAP operating margin for Q2 2025 was 23.8%[7] - Non-GAAP diluted earnings per share (EPS) for Q2 2025 stood at $1.19[7] Regional Revenue Performance - Americas region generated $586 million in revenue, a decrease of 5% YoY CC and 6% YoY reported[7] - Europe's revenue was $310 million, an increase of 6% YoY CC and 7% YoY reported[7] - Asia Pacific, Middle East, and Africa (AMEA) region contributed $100 million, a decrease of 14% YoY CC and 15% YoY reported[7] - Greater China's revenue was $63 million, a decrease of 14% YoY CC and 15% YoY reported[7] NovaSeq X Transition - NovaSeq X accounted for over 50% of high-throughput (HT) revenue and over 75% of HT Gigabases (Gb) shipped in Q2 2025[22] - NovaSeq X consumables revenue is targeted to represent approximately 50% of HT revenue by the end of 2025[22] - NovaSeq X is targeted to represent approximately 75% of HT Gb shipped towards the end of 2025[22] Acquisition of SomaLogic - Illumina announced the acquisition of SomaLogic for $350 million in cash, payable at closing, with up to $75 million in near-term revenue performance-based milestones and potential performance-based royalties[15] - The acquisition is projected to close in the first half of 2026, pending regulatory clearance[14] - SomaLogic is expected to become profitable in 2027 on a non-GAAP operating income basis, with non-GAAP operating margins aligning with Illumina's in 2028[15] Financial Guidance - Illumina's FY25 revenue guidance indicates a growth of 0% to 2%, with an FX benefit of approximately 20 bps for the rest of the world, and a revenue between $190 million and $210 million for Greater China[35] - Q3 2025 revenue guidance indicates a decline of 2.5% to 1.5%, with an FX benefit of approximately 60 bps, implying a reported revenue of $1.06 billion to $1.07 billion[35]

Q2 2025 Key Accomplishments - Riot acquired an additional 238 acres at Corsicana, increasing the total acreage footprint to 858 acres[17] - Bitcoin Mining operations achieved a 50% gross margin[17] - The company's all-in power cost was $0.035 per kWh, and the hash cost was $25/PH/s/day[17] - Riot ended Q2 2025 with 19,273 BTC and $330 million in cash[18] - The company sold 1,371 BTC at an average price of $96,136 per BTC, generating proceeds of $132 million[18] Q2 2025 Financial Update - Riot produced 1,426 BTC in Q2 2025, averaging 15.7 BTC per day[22] - The company held 19,273 BTC valued at $2.1 billion, representing a $479 million increase[22] - Total revenue was $153 million, with $140.9 million from Bitcoin Mining, a 119% increase compared to Q1 2024[22] - Net income was $219.5 million, including a $470.8 million unrealized gain on bitcoin held[22] - Power curtailment credits amounted to $8.3 million[22]

Financial Performance - IDACORP's net income for the three months ended June 30, 2025, was $95781 thousand, compared to $89520 thousand for the same period in 2024[13] - Diluted earnings per share increased from $1.71 in Q2 2024 to $1.76 in Q2 2025[13] - For the six months ended June 30, 2025, net income was $155428 thousand, up from $137693 thousand in the first half of 2024[13] - Diluted earnings per share for the first six months of 2025 were $2.87, compared to $2.67 in the same period of 2024[13] Load and Customer Growth - The 2025 Integrated Resource Plan (IRP) forecasts a 5-year annual retail sales growth rate of 8.3% and an annual peak growth rate of 5.1%[14] - The 20-year forecasted annual growth rate for retail sales is 2.7% and for annual peak is 1.9%[14] - Customer growth for the twelve months ended June 30, 2025, was 2.5%[17] Capital Projects and Resource Planning - The Boardman-to-Hemingway (B2H) transmission line project broke ground in June 2025, with an expected in-service date in late 2027; Idaho Power's interest in B2H is approximately 45%[22, 25] - The 2025 IRP includes converting Valmy units 1 and 2 from coal to natural gas in Summer 2026[26] - The 2025 IRP preferred portfolio includes the need for 450 MW of new gas resources in 2029 and 2030 and 355 MW of peak capacity resources in 2028 and 2029[27] Regulatory and Financial Matters - Idaho Power filed a general rate case with the IPUC on May 30, 2025, requesting a $199.1 million, or 13.09%, increase in total Idaho-jurisdictional revenue, effective January 1, 2026[32] - As of June 30, 2025, Idaho Power had $400 million and IDACORP had $100 million net balance available from revolving credit facilities[34] - IDACORP has an At-the-Market Offering Program with $143.5 million net proceeds available as of June 30, 2025[34] - IDACORP entered into Forward Sale Agreements that could yield $560.4 million, settled by November 9, 2026[37] - IDACORP's earnings per share guidance for 2025 is $5.70 – $5.85 per diluted share[39]

Financial Performance - Edison International's Q2 2025 GAAP EPS was $0.89, while Core EPS was $0.97[5] - The company reaffirmed its 2025 Core EPS guidance of $5.94–6.34[5,6], which includes 44¢ from the TKM settlement (30¢ true-up + 14¢ interest reduction)[23] - Edison International reiterated a 5–7% Core EPS Compound Annual Growth Rate (CAGR) from 2025 to 2028, projecting EPS of $6.74–7.14 in 2028[5,6] - Year-to-date 2025 Core EPS was $2.34, a decrease compared to $2.37 in YTD 2024[31] Regulatory Updates and Capital Investments - A proposed decision for the 2025 General Rate Case (GRC) was issued on July 28, supporting significant capital investments while considering affordability[7] - The GRC proposed decision includes over 1,800 miles of grid hardening, shifting approximately 400 miles to covered conductor from targeted undergrounding[8] - The company anticipates investing $6.2 billion to reduce wildfire risks associated with utility equipment[14] - Edison International projects approximately 6–8% rate base growth from 2023 to 2028, driven by wildfire mitigation and grid work, resulting in a rate base of $49.4 billion in 2025, $53.0 billion in 2026, $56.8 billion in 2027 and $60.6 billion in 2028[20] Wildfire Mitigation and Cost Recovery - SCE plans to launch a Wildfire Recovery Compensation Program, with Eaton Fire investigations ongoing[5] - The company is requesting recovery of $5.4 billion of costs related to the Woolsey fire and $84 million in restoration costs[33,35] - Edison International has completed approximately $1.6 billion in securitizations of AB 1054 capital expenditures[42]

Financial Highlights - MindMed reported cash, cash equivalents, and investments of $237.9 million as of June 30, 2025[11], which is expected to fund operations into 2027 and at least 12 months beyond the first Phase 3 topline data readout in GAD[12, 15] - The company has a credit facility of up to $120 million, with $42 million outstanding as of June 30, 2025[63] - Operating expenses for the second quarter of 2025 totaled $40.9 million, including $29.8 million for R&D and $11.1 million for G&A[63, 66] - MindMed completed a $250 million equity investment[15, 63] Clinical Development - MM120 - The company's lead clinical program, MM120 ODT, is in three Phase 3 studies targeting Generalized Anxiety Disorder (GAD) and Major Depressive Disorder (MDD)[11] - Three Phase 3 topline readouts are anticipated in 2026: one in the first half for GAD (MM120-300) and two in the second half for GAD (MM120-301) and MDD (MM120-310)[14, 64] - MM120 Phase 2b trial demonstrated a 21.9-point improvement on the HAM-A at Week 12 (p=0.003) and a 48% remission rate in participants at Week 12[34] - MM120 Phase 2b also showed a 18.7-point improvement in MADRS score at Week 12, with a 6.4-point improvement over placebo (p<0.01)[38] Market Opportunity - 26 million U S adults live with GAD and 41 million U S adults live with MDD[20] - Approximately 50% of GAD patients fail first-line pharmacological treatments[20] - Approximately 2/3 of MDD patients do not achieve remission after first-line therapy, and 30% fail by 2+ lines of therapy[20] - Surveyed providers indicated that 62% of all psychiatric providers and 78% of interventional psychiatric providers believe the availability of psychedelics for GAD and MDD will change their approach to treatment[24]

Q2 2025 Performance Highlights - Total revenue grew by 12% year-over-year[6] - Subscription revenue increased by 16% year-over-year[6] - Subscription revenue accounted for 81% of total revenue[6] - Adjusted EBITDA margin reached an all-time high of 24%, with a 63% year-over-year dollar growth[6] - The company achieved a 108% LTM DBRR (Dollar Based Retention Rate)[6] AI Metrics and Innovation - Enterprise AI revenue experienced a 42% year-over-year growth[7] - AI contributed to 10% of Enterprise Subscription Revenue[7] - AI represented over 20% of Enterprise New Logo ACV Bookings[7] - Enterprise AI bookings grew by over 3x year-over-year[7] Customer Success with AI - One healthcare customer increased Five9 ARR by approximately 40%, exceeding $11 million after extending their contract to a 5-year term[8] - An airline customer more than doubled their Five9 ARR, reaching over $7 million by expanding their AI portfolio[8] Guidance - The company projects Q3 2025 revenue between $283 million and $286 million[37] - The company anticipates full-year 2025 revenue between $11435 billion and $11495 billion[37]

Forrester's Business Overview - Forrester is a research and advisory firm that helps businesses accelerate growth through customer obsession[4] - The company has a global reach with operations in Asia Pacific, Europe, and North America, employing approximately 1,500 people[5] - 61% of Fortune 100 companies are Forrester's clients[5] Financial Performance and Strategy - In 2024, approximately 73% of Forrester's total revenue came from Research, while approximately 27% came from Consulting and Events[5] - Forrester Decisions accounted for approximately 80% of the company's contract value in 2024[5] - Forrester's adjusted EBITDA for 2024 was $46.1 million[5] - Forrester estimates the total available research market opportunity to be $78 billion, growing to $115 billion[9] Q2 2025 Financial Results - Consolidated revenue for Q2 2025 was $111.7 million, a decrease of 8% compared to the previous year[57] - Research revenue for Q2 2025 was $77.9 million, a decrease of 7% compared to the previous year[57] - Adjusted EPS for Q2 2025 was $0.51, a decrease of 25% compared to the previous year[57] - Forrester's CV(Contract Value) in Q2 2025 was $288.7 million[62]

Financial Performance - Q2'25 revenue reached $107.7 million[8, 15], reflecting a year-over-year and quarter-over-quarter increase[23] - Non-GAAP gross margin for Q2'25 was 44.4%[9, 22], compared to 44.2% in Q1'25[9, 22] - Adjusted EBITDA for Q2'25 was 3.6%[10, 22], an increase from -2.0% in Q1'25[10, 22] - Q3'25 revenue is projected to be $125 million +/- $7 million[27], representing an approximate 16% increase compared to Q2'25[29] - The company's cash and investments increased to $209 million in Q2'25[24], up from $201 million in Q1'25[24] Business Highlights - Orders increased by 26% quarter-over-quarter, primarily driven by the Mobile end-market[13] - Recurring revenue accounted for approximately $68 million of the Q2'25 revenue[16], representing 63% of the total revenue[15] - Systems revenue was approximately $40 million in Q2'25[16] - The company estimates test cell utilization increased by 3 percentage points quarter-over-quarter to 75%[11]