Financial Data and Key Metrics Changes - The company reported net sales of CHF 749.2 million, representing a 32% year-over-year increase on a reported basis and a 38.2% increase on a constant currency basis [31][29] - Adjusted EBITDA reached CHF 136.1 million, translating to an adjusted EBITDA margin of 18.2%, up 220 basis points year-over-year [41][30] - Gross profit margin increased by 160 basis points year-over-year to 61.5%, driven by a higher D2C share and lower freight expenses [39][40] Business Line Data and Key Metrics Changes - The Direct-to-Consumer (D2C) channel saw net sales of CHF 308.3 million, up 54.3% year-over-year at constant currency [31] - The apparel business delivered net sales growth of 75.5% at constant exchange rates, reaching CHF 36.7 million [38] - Net sales from shoes grew 36% at constant exchange rates, with strong demand across both Performance and Lifestyle portfolios [37] Market Data and Key Metrics Changes - EMEA region net sales grew by 46.1% year-over-year on a constant currency basis, reaching CHF 197.8 million [34] - The Americas saw net sales growth of 23.6% on a constant currency basis, totaling CHF 432.3 million [35] - The APAC region experienced triple-digit growth, with net sales up 110.9% year-over-year, translating to CHF 119.2 million [36] Company Strategy and Development Direction - The company aims to be the most premium global sportswear brand, focusing on innovation, quality, and customer experience [50][51] - A strategic emphasis on building a balanced portfolio with nine distinct footwear franchises, each contributing over 5% to the top line [9][80] - The company is expanding its apparel business and enhancing its relevance as a full sportswear brand, with plans for new product launches and collaborations [10][81] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the brand's momentum and the ability to navigate macroeconomic challenges, including tariffs [64][62] - The company anticipates continued strong performance in Q3 and has raised its full-year guidance for net sales growth to at least 31% year-over-year [48][47] - Management highlighted the importance of maintaining a premium brand position and investing in long-term growth initiatives [50][51] Other Important Information - The company opened its first retail store in Singapore, which achieved high sales during its opening weekend [27] - The launch of the LightSpray factory in Zurich represents a significant innovation in manufacturing processes [18] - The company has a strong cash position of CHF 846.6 million, despite a decrease from the previous quarter [44] Q&A Session Summary Question: What gives you the confidence to raise your constant currency sales growth guidance for the year? - Management cited strong brand momentum globally, with significant growth across all regions and product categories, and a strong order book for Q3 [56][58] Question: Can you talk about the second half constant currency revenue growth and trends in wholesale and DTC? - Management emphasized the importance of durable, high-quality growth and indicated that they are well-positioned for continued momentum in both channels [68][70] Question: What are the levers for additional margin expansion given current performance? - Management highlighted opportunities for increased gross profit margin through a higher D2C mix, economies of scale, and continued investment in brand-building initiatives [71][72] Question: Can you expand on the gross margin outlook for the year? - Management expressed confidence in maintaining gross profit margins above 60%, supported by price increases and operational efficiencies [92][93] Question: How is the apparel strategy evolving? - Management noted strong consumer engagement in apparel, driven by direct-to-consumer channels and collaborations with influencers, and plans to continue expanding this category [96][97]

Veru (VERU) Q3 2025 Earnings Call August 12, 2025 08:00 AM ET Speaker0Good morning, ladies and gentlemen, and welcome to Veru Inc. Investors Conference Call. All participants will be in listen only mode. After this morning's discussion, there will be an opportunity to ask questions. Please note that this event is being recorded.I would now like to turn the conference call over to Mr. Michael Purvis, Veru Inc. General Counsel and Executive Vice President of Corporate Strategy. Please go ahead.Speaker1The sta ...

Financial Data and Key Metrics Changes - USDC in circulation grew to $61.3 billion at June 30, representing a 90% year-over-year increase, and reached $65.2 billion by August 10, marking a 6.4% increase since quarter-end [7][28] - Total revenue and reserve income increased by 53% year-over-year to $658 million in Q2, while total distribution transaction and other costs rose by 64% year-over-year to $407 million [28][29] - Adjusted EBITDA was $126 million in the quarter, up 52% year-over-year, resulting in a 50% adjusted EBITDA margin [30] Business Line Data and Key Metrics Changes - USDC on-chain transaction volume grew 5.4 times year-over-year to nearly $6 trillion, with $2.4 trillion in transactions recorded in July alone [7][27] - CCTP volume also showed significant growth, up 4.1 times year-over-year, indicating the importance of blockchain interoperability [27] - Other revenue increased to $24 million in Q2, up 3.5 times year-over-year, primarily driven by a $13 million increase in subscription and services revenue [29] Market Data and Key Metrics Changes - The total addressable market for stablecoins is considered massive, with dollar stablecoins representing only 1% of the U.S. M2 money supply [9] - The company operates the largest regulated stablecoin network globally, with significant growth driven by partnerships with major financial institutions and technology companies [11][22] Company Strategy and Development Direction - The company aims to build the largest stablecoin network, leveraging its platform to support developers, enterprises, and institutions [24] - The launch of the Circle Payments Network (CPN) is a key initiative to transform international money movement, with active payment corridors already established in several countries [13][58] - The introduction of ARC, a new Layer 1 blockchain, is designed to support stablecoin finance and enhance transaction efficiency [15][93] Management's Comments on Operating Environment and Future Outlook - Management highlighted the rapid expansion of commercial opportunities post-IPO and the positive impact of the Genius Act on stablecoin adoption [12][99] - The company anticipates a conservative multi-year growth rate of 40% CAGR for USDC, reflecting the increasing demand for stablecoins across various sectors [31][108] - Management emphasized the importance of building strong partnerships and the need for financial institutions to integrate new technologies, which may take time [100] Other Important Information - The company has committed to corporate impact by reserving shares for future donations to its foundation [9] - The regulatory environment is seen as a significant tailwind for the company's growth, particularly with the passage of the Genius Act [12][100] Q&A Session Summary Question: Thoughts on ARC and its revenue model - Management expressed excitement about ARC and its potential to underpin stablecoin finance, with gas fees in USDC expected to become a revenue source [35][39] Question: Details on USYC and partnership with Binance - The expanded partnership with Binance includes deeper integration of Circle's wallet technology and aims to promote USDC and USYC as yield-bearing collateral [40][44] Question: Understanding transaction volume versus circulation - Management explained that the high velocity of USDC transactions reflects improvements in blockchain technology and growing payment utility [50][53] Question: Milestones for CPN and its relationship with ARC - The focus is on activating more payment corridors and developing self-service tools for institutions to integrate with CPN [58][60] Question: Payment networks and competition - Management views USDC as a market-neutral infrastructure that supports various payment networks, emphasizing the importance of growing utility and distribution [64][66] Question: Adoption of USDC in remittance - The company is seeing increasing demand for USDC in remittance, with partnerships expanding in both consumer and B2B segments [78][80] Question: Partnership with OKX - The partnership with OKX aims to enhance liquidity and promote USDC to a large user base, contributing to the growth of the network [82][86] Question: Distribution and gas fees for ARC - Management discussed the goal of having a distributed network of professional validators for ARC, ensuring low and predictable transaction costs [90][92] Question: Impact of the Genius Act on growth - Management noted a significant increase in institutional interest post-Genius Act, which is expected to drive further adoption of USDC [95][100]

Financial Data and Key Metrics Changes - Total revenues for Q2 reached $21.5 million, a 76% year-over-year increase, driven by strong growth in robotaxi services and licensing applications [38][39] - Robotaxi service revenues grew by 158% year-over-year, with fare charging revenues expanding by over 300% [38][39] - Gross margin improved to 16.1%, with gross profit of $3.5 million [40] - Net loss for Q2 was $53.3 million, up from $30.9 million in the same period last year [43] Business Line Data and Key Metrics Changes - Robotaxi service revenues reached $1.5 million, reflecting a 158% year-over-year growth [38] - Licensing and application revenues surged by 902% year-over-year to $10.4 million [39] - Global truck services revenue decreased by 10% year-over-year to $9.5 million [39] Market Data and Key Metrics Changes - Registered users surged by 136% year-over-year in Q2, indicating strong user adoption [8][16] - The company operates across 2,000 square kilometers in Tier one cities in China, significantly larger than the size of San Francisco [55] Company Strategy and Development Direction - The company aims for mass production of over 1,000 Gen seven robotaxis by year-end 2025, with over 200 already produced [7][48] - A strategic partnership with Hehu Group aims to deploy over 1,000 robotaxis in Shenzhen [15] - The focus is on scaling up operations and enhancing user experience through improved service efficiency and user engagement [15][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive unit economics for Gen seven vehicles, supported by reduced bond costs and improved operational efficiencies [51] - The company is well-positioned for large-scale commercialization, with a solid plan and execution strategy in place [22][44] Other Important Information - The company has secured Shanghai's first fully driverless commercial license and expanded its presence in international markets such as Dubai, Seoul, and Luxembourg [8][19] - The operational environment includes extreme weather conditions, validating the safety and reliability of the vehicles [11][33] Q&A Session Summary Question: Production plan throughout 2025 - Management confirmed they are on track to exceed the 1,000 robotaxi fleet size target by year-end, with over 200 vehicles already produced [47][48] Question: Key drivers behind robotaxi revenue growth - Robotaxi service revenue growth was attributed to expanding user adoption, demand in Tier one cities, and an increased fleet of robotaxis [53][54] Question: Impact of government comments on L4 robotaxi industry - Recent comments clarified the distinction between L2 and L4 systems, which is beneficial for the company as it reinforces the safety standards required for L4 autonomous driving [58][60] Question: Key technical requirements for new market expansion - The company highlighted the importance of handling corner cases and extreme scenarios, with a robust software system enabling rapid adaptation to new environments [64][66] Question: Timetable for potential Hong Kong IPO - Management refrained from commenting on market speculation but emphasized a focus on executing their go-to-market strategy while exploring capital market opportunities [70][72] Question: Future plans for overseas market expansion - The company is focused on markets with strong mobility demand and supportive regulatory environments, with ongoing operations in Dubai, South Korea, and Luxembourg [74][78]

Acurx Pharmaceuticals (ACXP) Q2 2025 Earnings Call August 12, 2025 08:00 AM ET Speaker0Greetings, and welcome to the Accurate Pharmaceuticals to discuss Second Quarter twenty twenty five Financial Results 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. It is now my pleasure to introduce Robert Shawwal, Chief Financial Officer.Please go ahead.Speaker1Thank you, Stacy ...

Financial Data and Key Metrics Changes - Total revenue for the second quarter was $63.7 million, a 30% increase year-over-year and a sequential increase of 33% from the previous quarter [13][14] - Adjusted EBITDA for the second quarter was $17 million, with net income of $5 million, highlighting the operating leverage built into the business [15][16] - The company aims for more than $280 million in revenue for 2025, needing approximately $169 million in the second half to meet this guidance [13][14] Business Line Data and Key Metrics Changes - VeeVai generated $18.6 million in revenue, a 13% decrease from the previous year, attributed to a normalization in average selling price (ASP) [16][17] - iHizo generated $18.3 million in revenue, a 251% increase from the previous year, driven by momentum from the retina pivot and expanded distribution [19][20] - Triassence achieved $5.2 million in revenue, a 447% increase from the previous year, with volumes accelerating and market share expanding [20][21] - ImprimisRx generated $21.5 million in revenue, a 7% increase from the previous year, performing as expected and on track to reach $80 million for the year [21] Market Data and Key Metrics Changes - VeeVai captured a 7.8% share of the national dry eye disease market, a 2.6% increase quarter-over-quarter [26] - iHizo's volume grew 33% quarter-over-quarter within the largest retina GPO, representing approximately 70% of the retina market [34] - Triassence achieved 84% coverage with only 8% of claims requiring prior authorization, indicating strong market penetration [36] Company Strategy and Development Direction - The company aims to deliver a quarterly revenue of $250 million by 2027, supported by a sophisticated infrastructure and a diverse portfolio of over 59 prescription products [8][9] - Recent strategic alliances, such as with Apollo Care, are expected to enhance distribution networks and improve ASP for VeeVai [18][19] - The company is preparing to launch Biclovy, a new FDA-approved steroid, in 2026, which is expected to capture significant market opportunities [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting revenue guidance for 2025, citing strong momentum in key growth drivers and a stable cost basis [15][16] - The company anticipates meaningful revenue growth as early as the third quarter, driven by increased prescription volumes and a more stable ASP [24][25] - Management highlighted the importance of maintaining a strong supply chain and safety stock to support future growth [59][60] Other Important Information - The company has secured additional manufacturing capacity for 2025 to meet growing demand for VeeVai and other products [25] - The recent acquisition of Samsung's ophthalmic biosimilars portfolio is expected to enhance the company's competitive position in the market [38] Q&A Session Summary Question: Can you help us with any kind of business rule changes within VeeVai as you onboard Apollo Care? - Management indicated that minor tweaks to the algorithm are ongoing, and the ASP is expected to stabilize and potentially improve by the end of the year due to expanded network coverage [44][45][47] Question: Any thoughts on the contribution of the biosimilars to the model in 2026 and 2027? - Management expressed excitement about the Samsung portfolio and anticipates launching BioViz in 2026, expecting immediate demand due to the existing market [49][50][51] Question: How much of the growth in new prescriptions for VeeVai was driven by Clarity C switchers? - Approximately 7,000 units came from Clarity C during the period, and management is confident in the loyalty of these patients for refills [55][56] Question: What are the expectations for the Specialty Branded and Triassence segment? - Management expects to double revenue levels for ex-Tri Essence products by the end of the year and sees strong growth potential for Triassence in the ocular inflammation market [60][62] Question: How does ApolloCare differ from PHIL in terms of integration with existing plans? - ApolloCare offers extensive contracted plans, which helps capture more commercial covered prescriptions, enhancing ASP stability [78][80]

Financial Data and Key Metrics Changes - Revenue for the second quarter increased by 18% to $43 million, up from $36.5 million in the same period last year [7] - Gross profit increased by 35%, with gross margin expanding by 320 basis points to 25.1% compared to 21.9% in the second quarter of last year [8] - Adjusted EBITDA increased by 41.9% to $6.1 million, translating to an adjusted EBITDA margin of 14%, up from 11.9% in the same period last year [8][22] - Net profit increased by 25% compared to 2024 and by 53% year over year in the first half of 2025 [21] Business Line Data and Key Metrics Changes - APU work revenue increased by 12% year over year, but saw a slight sequential decrease due to market volatility [11] - Revenue from trading and leasing tripled, showcasing operational flexibility amid modest MRO intake [12] - All strategic product lines grew double digits year over year, aligning with company expectations [25] Market Data and Key Metrics Changes - Long-term agreement value and backlog increased by $85 million to $524 million, reflecting new contract wins and customer base expansion [5][27] - The backlog for APU and landing gear segments grew to $204 million compared to $170 million at the end of 2025 [27] Company Strategy and Development Direction - The company aims to enhance value for strategic customers by expanding service offerings and exploring strategic acquisitions [14][52] - Focus on operational efficiencies and margin improvement continues, with ongoing initiatives to optimize cost structure and improve product mix [8][72] - The company is well-positioned to manage through macroeconomic challenges and is optimistic about long-term growth prospects [9][86] Management's Comments on Operating Environment and Future Outlook - Management noted that while the aviation sector faces macroeconomic and operational headwinds, the company is well-positioned to navigate these challenges [9] - There is cautious optimism regarding future demand for MRO work, particularly in the APU and landing gear segments [18] - Management emphasized the importance of maintaining operational flexibility to adapt to market dynamics [10][41] Other Important Information - The company completed a financing round of $45 million to strengthen its balance sheet and support growth initiatives [24] - Cash flow from operations was approximately $6.9 million, driven by better collections and improved payment terms [23] Q&A Session Summary Question: Can you discuss the MRO acceleration comments and where the reacceleration is happening? - Management indicated that the MRO market is experiencing a recovery after a period of reduced intake due to airlines managing cash flow by leveraging spare inventories [34][36] Question: What was the largest driver of cash flow in the quarter? - The company highlighted improved collections and tighter controls on inventory management as key drivers of positive cash flow [38][41] Question: How is the APU strategy progressing? - Management confirmed that the strategy is on track, with increasing market share and successful wins in smaller deals leading to larger opportunities [42][44] Question: Are there specific capabilities or products targeted for M&A? - The company aims to expand into more mechanical systems and components while remaining close to its existing capabilities [52] Question: What are the expectations for trading and leasing growth in the second half? - Management noted steady demand for leasing but acknowledged challenges in trading due to reduced teardown activity of old aircraft [64][66]

Financial Data and Key Metrics Changes - Total GAAP revenue increased by 38% year on year to $5.3 billion in Q2 2025, driven primarily by GMV growth in e-commerce and digital financial services [30] - Total adjusted EBITDA rose to $829 million in 2025 from $448 million in 2024 [30] - Net income for Q2 2025 was $440 million, compared to $80 million in Q2 2024 [33] Business Line Data and Key Metrics Changes E-commerce (Shopee) - Shopee's gross orders grew by 29% year on year to $3.3 billion in 2025, with GMV increasing by 28% year on year to $29.8 billion [30] - Advertising revenue saw a significant increase, with the number of sellers using ad products rising by around 20% and average quarterly ad spend growing by over 40% year on year [9][30] - Adjusted EBITDA for e-commerce was $228 million in 2025, compared to an adjusted EBITDA loss of $9 million in 2024 [30] Digital Financial Services (Money) - Digital financial services revenue increased by 70% year on year to $883 million, with adjusted EBITDA up by 55% year on year to $255 million [30] - The loan book grew over 90% year on year to reach $6.9 billion, with active users for consumer and SME loan products exceeding 30 million [18][30] Digital Entertainment (Garena) - Digital entertainment bookings grew by 23% year on year to $661 million, with GAAP revenue up 28% year on year to $559 million [30] - Adjusted EBITDA for digital entertainment was $368 million, up 22% year on year [30] Market Data and Key Metrics Changes - In Brazil, Shopee's average monthly active buyers rose by over 30% year on year, significantly outpacing the industry average [14] - The logistics cost per order in Brazil was reduced by 15%, and average delivery time improved by more than two days year on year [15] Company Strategy and Development Direction - The company aims to prioritize growth while improving profitability across all three business lines, with a focus on cost efficiency and cash accumulation [6][7] - The expansion of the Shopee VIP membership program and instant delivery services is expected to enhance user engagement and retention [12][46] - The company is committed to leveraging AI technologies to improve ad tech and enhance user experience across its platforms [81][90] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining growth momentum into Q3 2025, with expectations for full-year growth to exceed initial guidance [36] - The competitive landscape in Brazil remains favorable, with the company maintaining a strong cost structure and competitive pricing despite competitor adjustments [39][55] - The digital financial services segment is seen as having significant long-term growth potential, particularly in Brazil, where the penetration of BNPL is still in early stages [68] Other Important Information - The company has achieved EBITDA positivity across all three business lines since the second half of the previous year [6] - The Shopee platform has become a market leader in Brazil, promoting digital entrepreneurship among local sellers [16] Q&A Session Summary Question: Will the strong GMV performance lead to a full-year guidance raise? - Management indicated that Q3 growth is expected to be similar to the first half, suggesting an upward revision of full-year guidance is likely [36] Question: What is the current competitive landscape in Brazil? - Management noted that despite competitor adjustments, Shopee's growth in Brazil has remained strong, with a focus on cost structure and pricing competitiveness [39] Question: What is the potential for the Shopee VIP membership program? - Management sees good potential for the VIP program, especially in Indonesia, and does not anticipate significant long-term cost impacts [45] Question: How is the company leveraging AI in its operations? - AI is being used to improve ad tech, enhance user recommendations, and streamline customer service, with ongoing exploration of new business opportunities [81][90] Question: How is the gaming business performing outside of Free Fire? - Other games are still in early stages, but there is optimism about their potential as the company continues to refine these products [88]

Financial Data and Key Metrics Changes - Total GAAP revenue increased by 38% year on year to $5.3 billion in 2025, driven primarily by GMV growth in e-commerce and digital financial services [31] - Total adjusted EBITDA rose to $829 million in 2025 from $448 million in 2024 [31] - Net income for 2025 was $440 million, compared to $80 million in 2024 [34] Business Line Data and Key Metrics Changes E-commerce (Shopee) - Shopee's gross orders grew by 29% year on year to $3.3 billion in 2025, with GMV increasing by 28% year on year to $29.8 billion [31] - GAAP Marketplace revenue was $3.3 billion, up 34% year on year, while core marketplace revenue increased by 46% year on year to $2.6 billion [32] - Adjusted EBITDA for e-commerce was $228 million in 2025, compared to an adjusted EBITDA loss of $9 million in 2024 [31] Digital Financial Services (Money) - Digital Financial Services GAAP revenue increased by 70% year on year to $883 million, with adjusted EBITDA up by 55% year on year to $255 million [31] - The loan book grew over 90% year on year to reach $6.9 billion, with a stable 90-day NPL ratio of 1% [18][31] Digital Entertainment (Garena) - Digital entertainment bookings grew by 23% year on year to $661 million, with GAAP revenue up 28% year on year to $559 million [31] - Adjusted EBITDA for digital entertainment was $368 million, up 22% year on year [31] Market Data and Key Metrics Changes - In Brazil, Shopee's average monthly active buyers rose by over 30% year on year in Q2, significantly outpacing the industry average [14] - The logistics cost per order in Brazil was reduced by 15%, and average delivery time improved by more than two days year on year [15] Company Strategy and Development Direction - The company aims to prioritize growth while improving profitability across all three business lines, with a focus on cost efficiency and cash accumulation [5][6] - The strategy includes expanding the Shopee VIP membership program and enhancing logistics capabilities to improve service quality and customer loyalty [12][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining growth momentum into Q3, with expectations for full-year growth to exceed initial guidance [38] - The competitive landscape in Brazil remains favorable, with the company maintaining a strong cost structure and price competitiveness despite competitor adjustments [39][41] Other Important Information - The company has successfully integrated AI technologies to enhance advertising revenue and improve operational efficiencies across its platforms [7][84] - The Shopee VIP membership program has shown strong traction, with significant growth in GMV from VIP members in Indonesia [12] Q&A Session Summary Question: Will the strong GMV performance lead to a raised full-year guidance? - Management indicated that Q3 growth is expected to be similar to the first half, suggesting an upward revision of full-year guidance [38] Question: What is the competitive landscape in Brazil? - Management noted that despite competitor adjustments, Shopee's growth in Brazil has remained strong, with a focus on cost structure and logistics efficiency [39][41] Question: What is the potential for the Shopee VIP membership program? - Management sees good potential for the VIP program, especially with user retention and increased spending [46] Question: How will instant delivery impact costs and margins? - Management believes instant delivery will enhance offerings without significantly impacting EBITDA margins, as higher-end users are more willing to pay for faster services [47] Question: What is the outlook for digital financial services in Brazil? - Management is optimistic about growth in Brazil, with significant room for expansion in BNPL penetration and personal loans [68] Question: How is AI being utilized in the gaming business? - AI is being leveraged to enhance game development and user engagement, with a focus on improving productivity and creating more immersive experiences [90][94]

Western Midstream Partners (WES) Q2 2025 Earnings Call August 12, 2025 07:00 AM ET Company ParticipantsDaniel Jenkins - Director - IRKristen Shults - SVP & CFOJonathon VandenBrand - SVP - CommercialDaniel JenkinsWelcome to Western Midstream's second quarter twenty twenty five post earnings call fireside chat with our chief financial officer, Kristen Schulz, and our senior vice president of commercial, John Vandenbrand. Kristen, I'll start with you. Can you give us an overview of WES' record second quarter f ...