Financial Data and Key Metrics - Total revenue for the first nine months of 2024 reached over DKK 15 billion, a 29% increase compared to the previous year [34] - Recurring revenues grew by 37%, driven by strong royalties from DARZALEX, Kesimpta, and other approved medicines, as well as strong performance from EPKINLY and TIVDAK [28][29] - Operating profit stood at over DKK 4.5 billion, up more than 27% year-over-year [34] - Net profit for the period was almost DKK 4 billion, reflecting strong underlying financial performance [36] Business Line Performance - EPKINLY reported 17% growth in Q3, with global net sales of $82 million and year-to-date sales of $203 million [16] - TIVDAK demonstrated strong performance with 12 consecutive quarters of demand growth, achieving $32 million in sales [23] - EPKINLY and TIVDAK contributed 35% of Genmab's total revenue growth in the first nine months of 2024 [31] Market Performance - EPKINLY showed robust uptake in the U.S. and Japan, with strong field execution and positive responses from physicians and patients [17][22] - In Europe and the rest of the world, EPKINLY also saw strong growth through the partnership with AbbVie [22] - TIVDAK's demand growth was driven by the strength and breadth of accounts using the product, particularly in the gynecologic oncology space [23] Strategic Direction and Industry Competition - The company is focusing on maximizing the potential of its Phase 3 programs, including EPKINLY, Rina-S, and acasunlimab [12][32] - Genmab has terminated early-stage clinical programs (GEN1047, GEN3017, and GEN1056) and will not proceed with Phase 3 development for TIVDAK in second-line plus head and neck cancer [11] - The acquisition of ProfoundBio has enhanced Genmab's long-term growth potential, particularly in next-generation ADC platforms [27][43] Management Commentary on Operating Environment and Future Outlook - Management highlighted the strong performance of EPKINLY and TIVDAK, with consistent quarter-over-quarter growth [14][25] - The company expects continued strong growth for its own medicines, with around DKK 1.4 billion of growth from EPKINLY and TIVDAK in 2024 [38] - Genmab is committed to investing in Phase 3 trials for EPKINLY, Rina-S, and acasunlimab in 2025 [41] Other Important Information - The company plans to submit data for HexaBody-CD38 to J&J by the end of December 2024, with an opt-in decision expected by Q1 2025 [44] - Genmab will hold its annual R&D updates and data review event on December 11, 2024, which will be fully virtual [45] Q&A Session Summary Question: HexaBody-CD38 Data Disclosure - The top-line data for HexaBody-CD38 will be disclosed in the press release when J&J makes the opt-in decision, not at the time of data submission [47] Question: Rina-S and FR Alpha Expression - Rina-S has shown activity regardless of folate receptor alpha expression levels, with responses observed even in patients with expression below 25% [48] Question: TIVDAK Phase 3 Discontinuation - The decision to discontinue the Phase 3 trial for TIVDAK in head and neck cancer was based on strategic prioritization of the pipeline [52] Question: EPKINLY Commercial Potential - EPKINLY's major growth drivers are expected to be in the U.S. and Japan, with potential new approvals in follicular lymphoma (FL) and earlier lines of therapy [65] Question: 2025 Catalysts - Genmab expects further data on acasunlimab in lung cancer and updated data on Rina-S in ovarian carcinoma and other tumors in 2025 [69] Question: TIVDAK Cost Savings - The discontinuation of the TIVDAK Phase 3 trial will allow the company to reallocate resources to other Phase 3 programs, though specific cost savings were not detailed [70] Question: GEN1042 Next Steps - Genmab is collecting data on GEN1042 and will make a decision on next steps in the coming months [58] Question: HexaBody-CD38 Safety Profile - The company will not discuss HexaBody-CD38 safety data until J&J makes its opt-in decision [59] Question: Rina-S in Other Tumor Indications - Rina-S has shown activity in endometrial and non-small cell lung cancer, with potential for broader application across tumor types [84] Question: TIVDAK and KEYTRUDA Combination - The innovaTV 207 trial, exploring TIVDAK in combination with KEYTRUDA in frontline head and neck cancer, is ongoing [89] Question: Rina-S Trial Design - The Rina-S Phase 3 trial will not preselect patients based on folate receptor expression, though expression will be assessed in all patients [93] Question: Pipeline Reprioritization - Genmab has reprioritized its pipeline, discontinuing programs that did not meet internal differentiation criteria, while adding new programs like GEN1057 [100][101] Question: EPKINLY Patient Profile Evolution - EPKINLY is seeing broader patient populations, including those in earlier lines of therapy, with positive feedback from healthcare providers [102][103] Question: Autoimmune Disease Platform - Genmab is exploring innovative approaches to autoimmune diseases, including T-cell engagers and ADCs, though the focus remains on oncology for the near term [109][110]

Clarus Corporation (NASDAQ:CLAR) Q3 2024 Results Conference Call November 7, 2024 5:00 PM ET Company Participants Matt Berkowitz - External Director of Investor Relations Warren Kanders - Executive Chairman Mike Yates - Chief Financial Officer Mat Hayward - Managing Director of Clarus' Adventure Segment Neil Fiske - President of Black Diamond Equipment Conference Call Participants Jim Duffy - Stifel Laurent Vasilescu - BNP Paribas Mark Smith - Lake Street Operator Good afternoon, everyone, and thank you for ...

Financial Data and Key Metrics - Q3 2024 revenue was $56.1 million, an 11% increase both sequentially and year-over-year, above the midpoint of guidance [4] - Aerospace and defense (A&D) revenue grew 59% year-over-year to a record $30.3 million, driven by record A&D product revenue of $15.3 million, up 135% year-over-year [4][22] - Microfabrication revenue grew 19% year-over-year to $14.3 million, while industrial revenue declined 41% year-over-year to $11.6 million [23] - Products gross margin improved to 28.8%, and overall gross margin was 22.4%, within guidance range [4] - Net loss on a non-GAAP basis was $3.7 million or $0.08 per share, compared to a net loss of $4.9 million or $0.10 per share in Q3 2023 [29] - Adjusted EBITDA was negative $1 million, compared to negative $1.9 million in Q3 2023 [30] - Cash and investments totaled $107 million with no debt, and average DSO improved to 58 days from 65 days at the end of 2023 [31] Business Line Performance - Aerospace and defense (A&D) business grew 59% year-over-year, driven by record A&D product revenue and strong performance in directed energy and laser sensing programs [4][22] - Microfabrication revenue grew 40% sequentially to $14 million, driven by orders from a long-term customer, though volatility in demand is expected to continue [14][42] - Industrial revenue declined 41% year-over-year, with weak demand in cutting and welding markets, particularly due to competition from Chinese suppliers [23][24] - Additive manufacturing saw progress with the launch of the Corona AFX-2000 laser, which achieved 3x faster print speeds in validation with a leading customer [19] Market Performance - A&D market remains a key growth driver, with strong demand for directed energy systems and laser sensing products, particularly in the U.S. and Israel [5][9][10] - Commercial markets, including microfabrication and industrial, face headwinds due to weak demand and competition from Chinese suppliers, with challenges expected to persist into 2025 [15][16][48] Strategy and Industry Competition - The company is leveraging its vertical integration strategy in the directed energy market, with revenue generated at nearly every level of integration, making it an ideal supplier for U.S. government and foreign allies [10] - Manufacturing operations in Shanghai have been fully transitioned to Thailand and the U.S., with the company expecting normalized production levels in a few quarters [13] - The company continues to innovate in industrial markets, introducing new products like the nfinity laser for precision thick metal cutting and the Corona AFX-2000 for additive manufacturing [15][19] Management Commentary on Operating Environment and Future Outlook - Management expects continued growth in the A&D business, with strong visibility into backlog and design wins, though timing of revenue recognition for new technologies remains uncertain [38][52] - Commercial markets are expected to remain challenging into 2025, with no significant rebound anticipated in industrial or microfabrication revenue [48][49] - The company is focused on maintaining a strong balance sheet and managing working capital to support long-term growth objectives [33] Other Important Information - The company expects Q4 2024 revenue to be in the range of $49 million to $54 million, with A&D product revenue expected to grow sequentially [34][35] - Q4 gross margin is expected to be in the range of 17% to 21%, with adjusted EBITDA projected to be between negative $5 million and negative $2 million [36] Q&A Session Summary Question: Visibility into A&D product revenue beyond Q4 - The company has strong visibility into continued growth in A&D product revenue, supported by a robust backlog and design wins in directed energy and sensing programs [38][39] Question: Engagement with Israeli defense primes, including IRON BEAM - The company is deeply engaged with Israeli defense primes and is a supplier for the IRON BEAM project, with solid funding and future development opportunities [40][41] Question: Decline in commercial business revenue - The decline in commercial revenue is attributed to weak demand and competition from Chinese suppliers, with no significant rebound expected in 2025 [45][46][48] Question: Impact of Chinese suppliers in the U.S. market - Chinese suppliers are impacting the U.S. market through excess capacity and competition, though higher tariffs could provide some relief [50][51] Question: Growth outlook for A&D in 2025 - The company expects continued growth in A&D in 2025, supported by backlog and design wins, though timing of revenue recognition remains uncertain [52][53] Question: Backlog progression and commercial business outlook - Backlog is progressing, with growth in orders and design wins for critical programs in directed energy and sensing [56][57] - Commercial business is expected to remain weak, with microfabrication revenue returning to normalized levels and continued pressure in industrial markets [60][61] Question: Manufacturing transition from Shanghai - The transition of manufacturing from Shanghai to Thailand and the U.S. is complete, with a ramp-up period still ongoing [62] Question: Size of the directed energy opportunity - The directed energy market is significant, with U.S. and Israeli spending in the multi-hundred million dollar range annually, and the company participates at various levels of integration [65][66] Question: Maximum power laser for directed energy - The company produces the highest power laser in the world at over 350 kilowatts, with ongoing development to scale up to a megawatt [68] Question: 10% customers in the quarter - The company had a couple of customers at the 10% level in the quarter, primarily U.S. government or prime contractors, with similar expectations for the future [69] Question: Weakness in low-power lasers - Weakness in low-power lasers is largely related to the additive manufacturing market, with most demand at 1 kilowatt or below [72] Question: Margin profile of backlog - The margin profile of backlog is better than recent results, though fixed cost absorption remains a challenge at lower revenue levels [73] Question: Linearity of backlog - Backlog is not linear, with variability in development work and material integration across quarters [74]

Flywire Corporation (NASDAQ:FLYW) Q3 2024 Results Conference Call November 7, 2024 5:00 PM ET Company Participants Masha Kahn - Investor Relations Mike Massaro - CEO & Director Rob Orgel - President & COO Cosmin Pitigoi - CFO Conference Call Participants Darrin Peller - Wolfe Research John Davis - Raymond James Pat Ennis - UBS Nate Svensson - Deutsche Bank Andrew Bauch - Wells Fargo James Faucette - Morgan Stanley Andrew Schmidt - Citi Cris Kennedy - William Blair Operator Good day, and welcome to the Flywi ...

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Adam Varon - Senior Vice President Finance Scott Turicchi - Chief Executive Officer Johnny Hecker - CRO and Executive Vice President of Operations Jim Malone - Chief Financial Officer Conference Call Participants Jenny Shen - BTIG Operator Good day, ladies and gentlemen, and welcome to Consensus Q3 2024 Earnings Call. My name is Paul, and I will be the operator assisting you today. ...

Flowers Foods, Inc. (NYSE:FLO) Q3 2024 Earnings Conference Call November 8, 2024 8:30 AM ET Company Participants J.T. Rieck - Executive Vice President, Finance & Investor Relations Ryals McMullian - Chairman & Chief Executive Officer Steve Kinsey - Chief Financial Officer Conference Call Participants Steve Powers - Deutsche Bank Bill Chappell - Truist Securities Robert Dickerson - Jefferies Jim Salera - Stephens Mitchell Pinheiro - Sturdivant & Company Max Gumport - BNP Paribas Operator Good morning, and th ...

Rand Capital Corporation (NASDAQ:RAND) Q3 2024 Earnings Conference Call November 6, 2024 1:30 PM ET Company Participants Craig Mychajluk - Investor Relations Daniel Penberthy - President & Chief Executive Officer Margaret Brechtel - Executive Vice President & Chief Financial Officer Conference Call Participants Operator Greetings and welcome to Rand Capital Corporation Third Quarter Fiscal Year 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A brief question ...

Adeia Inc. (NASDAQ:ADEA) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Chris Chaney - Vice President-Investor Relations Paul Davis - President & Chief Executive Officer Keith Jones - Chief Financial Officer Conference Call Participants Madison De Paola - Rosenblatt Securities Hamed Khorsand - BWS Financial Matthew Galinko - Maxim Group Operator Good day, everyone. Thank you for standing by. Welcome to Adeia's Third Quarter 2024 Earnings Conference Call. During today's pre ...

Call Start: 17:00 Call End: 17:41 January 1, 0000 ET Q3 2024 Earnings Conference Call November 07, 2024 05:00 PM ET Company Participants Mark Hood - Executive Vice President of Operations & Investor Relations Luke Sarsfield - Chairman & Chief Executive Officer Amanda Coussens - Executive Vice President, Chief Financial Officer & Chief Compliance Officer Conference Call Participants Alex Bernstein - JPMorgan Ben Rubin - UBS Ben Budish - Barclays Operator Hello, and welcome to the P10 Third Quarter 2024 Confe ...

GeoPark Limited (NYSE:GPRK) Q3 2024 Results Conference Call November 7, 2024 10:00 AM ET Company Participants Andres Ocampo - Chief Executive Officer Martin Terrado - Chief Operating Officer Jamie Caballero - Chief Financial Officer Conference Call Participants Vicente Falanga - Bradesco Alejandro Demichelis - Jefferies Daniel Guardiola - BTG Operator Good morning and welcome to the GeoPark Limited conference call following the results announcement for the third quarter ending September 30, 2024. After spea ...