Financial Performance - The company's market capitalization increased by 388% from $286 million in FY 2016 to $1396 million in LTM Q3 2025[22] - The company's enterprise value increased by 251% from $449 million in FY 2016 to $1573 million in LTM Q3 2025[22] - Net revenues increased by 46% from $551 million in FY 2016 to $806 million in LTM Q3 2025[22] - Adjusted EBITDA increased by 125% from $55 million in FY 2016 to $125 million in LTM Q3 2025[22] - Adjusted EBITDA margin improved by approximately 600 basis points from 10% in FY 2016 to 16% in LTM Q3 2025[22] Business Segments and Strategy - Electronic Systems accounted for 55% of 2024 revenue, with $431 million in revenue and a 21% adjusted EBITDA margin[28] - Structural Systems accounted for 45% of 2024 revenue, with $355 million in revenue and a 15% adjusted EBITDA margin[28] - The company aims to achieve approximately $950 million - $1 billion in net revenues by 2027[31] - The company targets an adjusted EBITDA margin of approximately 18% by 2027[31] - The company aims for engineered products to represent 25% of revenue by 2027[31]

Financial Performance & Growth - The company reported Last Twelve Months (LTM) global proforma revenue of $564 million[7] - The company is experiencing above-market revenue growth, with eight quarters of mid-single-digit or higher growth[8] - The company's organic growth is projected at 7% in 2025[12] - The company's Adjusted EBITDA margin is expected to increase from 13.4% in 2022 to 20.2% in 2025[14] - Cash from Operations is projected to nearly double from 2024 to 2025[19] Market & Strategy - The company operates in a $6.4 billion addressable market[7] - The company has a diversified portfolio in large and growing markets, including Pain Treatments, Surgical Solutions, and Restorative Therapies[8, 6] - The company is focused on margin expansion by leveraging mid-70s gross margin and cost efficiencies[8, 24] - The company aims to increase EBITDA and cash flow to continue reducing leverage[8] Future Outlook - The company projects a net leverage ratio of less than 2.5x by the end of 2025[27] - The company anticipates a free cash flow yield of approximately 60% in 2025[27]

Physical AI Market Overview - Physical AI is the next major market inflection, following the Internet, online commerce, and mobile phones[14, 16, 17] - Physical AI drives broader workloads by enabling devices to sense, think, act, and communicate in dynamic environments[22, 23] - The serviceable addressable market (SAM) for Physical AI is estimated to be over $18 billion by 2030[69] GF's Position and Strategy - GF (GlobalFoundries) is uniquely positioned to enable the Physical AI transition with its portfolio of platforms and technologies[26, 28] - GF's portfolio includes advanced packaging, silicon photonics, MIPS, RISC-V processor IP, ultra-low power CMOS, FinFET FDX, and feature-rich CMOS[29, 31, 33, 35] - GF's technologies empower the performance, safety, and connectivity essential for next-generation mobility[64] MIPS and GF Collaboration - MIPS, a GlobalFoundries company, is powering the next wave of Physical AI with its RISC-V processor IP, software, and custom silicon[36, 41] - The combination of MIPS and GF brings Physical AI to life through workload-driven IP and design, optimized process technologies, and software-first processor IP design[44, 45] - GF's innovations with FDX technology enable more compute and real-time decision-making in an ultra-low power and secure environment[63] Design Win Growth - GF is experiencing accelerating design win growth, with approximately 400 design wins expected in 2025, nearly 3x the ~150 design wins in 2023[72] - Approximately 95% of 2025 year-to-date design wins were sole-sourced[72] - GF is engaged with leading industry players across various sectors, including industrial, AI, automotive, mobile, hyperscalers, and aerospace & defense[73]

Financial Performance - Q1 Fiscal 2026 - Consolidated net sales reached $2.39 billion, an increase of 11.5% compared to Q1 Fiscal 2025[7] - North American Towable net sales were $897.09 million, a slight decrease of 0.2% year-over-year[7, 12] - North American Motorized net sales increased significantly by 30.9% to $661.10 million[7, 16] - European net sales increased by 8.4% to $655.48 million[7, 20] - Gross profit margin improved by 30 basis points to 13.4%[10] - Net income was $21.67 million, a significant improvement compared to a loss of $1.83 million in the prior year[10] Segment Highlights - North American Towable wholesale shipments decreased by 14.0%, but the average sales price increased by 16.1% to $34,761[12] - North American Motorized wholesale shipments increased by 32.3%, while the average sales price slightly decreased by 1.1% to $133,555[16] - European wholesale shipments increased slightly by 1.0%, and the average sales price increased by 7.3% to $75,144[20] Liquidity and Capital Management - Total liquidity stood at $1.44 billion, including $509.88 million in cash and cash equivalents[24] - Outstanding debt was $926.06 million, resulting in a net debt to TTM EBITDA ratio of 0.6x[24] - The company repurchased 50,235 shares for approximately $5.0 million during the quarter[31] Fiscal Year 2026 Guidance - The company anticipates consolidated net sales between $9.0 billion and $9.5 billion[34]

Business Overview - Ceribell is an AI-powered point-of-care EEG platform targeting serious neurological conditions in the acute care setting[10] - The company estimates a U S annual addressable market of over $2 billion[13,64] - The company's 3Q 2025 revenue was $22 6 million, representing 31% year-over-year growth[13] - Ceribell has 615 active accounts as of 3Q 2025, with an 88% gross margin[13] Technology and Clinical Application - Ceribell's EEG system aims to provide suspicion to diagnosis in minutes, enabling earlier and more accurate treatment[39] - The system includes a headband EEG, portal, and recorder, combining portable hardware with AI-powered algorithms[43,44] - The Clarity algorithm provides seizure burden information to facilitate EEG reading for neurologists and offers real-time feedback on medication response[48,50] - Clinical data suggests that Ceribell can change clinical decisions in 20-53% of patients and reduce hospital or ICU length of stay by 0 4 to ~4 fewer days[56] Growth Strategy - Ceribell is pursuing growth by increasing adoption in new accounts, driving utilization within existing accounts, and expanding into new indications and markets[66] - The company has unlocked pediatric and neonate opportunities, opening an incremental ~$400 million market and ~280 children's hospitals[73]

Business Overview - Genius Sports has partnerships with over 400 leagues and federations, 250+ brands & advertisers, 650+ sportsbook partners, and 50+ broadcasters[17] - Genius Sports' technology platform, GeniusIQ, aims to drive monetization through personalized advertising, new viewing experiences, next-gen betting products, and deeper data[22] - Genius Sports has invested over $500 million in the past 12 years[33] Financial Performance and Projections - Genius Sports projects revenue of $1.2 billion and adjusted EBITDA of $365 million with a 30% margin by 2028[65] - The company anticipates free cash flow of $220 million by 2028, representing a 60% conversion rate[65] - Genius Sports' revenue has shown consistent growth, from $88 million in 2018 to $655 million in 2025E[35] - The company's adjusted EBITDA margin has expanded from 1% in 2018 to a projected 21% in 2025E[35] - Genius Sports' betting revenue is growing at a CAGR of 27% from 2021 to 2025E, outpacing the global online sports betting GGR growth of 19%[31, 32] Betting Market - Top 25 global customers net revenue retention is 136%[155] - Top 10 US customers net revenue retention is 137%[155] - All customers net revenue retention is 131%[155] Media and Advertising - Genius Sports aims to achieve $300 million in media revenue by 2028[183] - The total global digital ad market is approximately $700 billion, with an addressable non-walled garden ad spend of around $350 billion, and sports fan-focused spending of about $100 billion[185]

Financial Performance & Targets - The company aims to sustainably exceed 20% operating profit margin from 2026[9, 28, 156] - The company targets 90-100% free operating cash flow conversion[9, 28] - The company's aftermarket (AM) business is growing at approximately 7% CAGR[28] Growth Strategies - The company is focused on mid to high single-digit percentage organic revenue growth through the cycle[28] - The company's software solutions are projected to grow at 20-30% annually[24, 50] - ESCO aims to increase its total addressable market (TAM) by approximately 10% by going direct in Chile[93] Software Solutions (Micromine) - Micromine has a 93% customer retention rate[55] - Micromine operates in a £3.8 billion total addressable market, with Micromine currently representing £100 million of that market[43, 50] - 75% of Micromine's customer-facing team are geologists and mining engineers[39] Minerals Division - The company has a £40 million contract win for a sustainable tailings solution in Chile[118] - NEXT intelligent solutions have driven a £10 million annual sales uplift in one region[133] - The company estimates savings of up to $150,000 per hour by avoiding downtime through AI-driven predictive analytics[131]

Financial Performance - Sprinklr's Q3 FY26 total revenue showed a year-over-year growth of 9%[8] - The company's total remaining performance obligations (RPO) reached $858 million[8] - Subscription revenue margin was 77% for Q3 FY26[8] - Sprinklr's Q3 FY26 free cash flow was $16 million[8] - The net dollar expansion rate was 102%[8] - The company repurchased $150 million of Class A shares during Q2 and Q3 FY26[41] Customer Base - Sprinklr has 145 customers with over $1 million in revenue[8] Guidance - Sprinklr projects Q4 FY26 subscription revenue to be between $191 million and $192 million, a 5% year-over-year increase at the midpoint[43] - The company anticipates full-year fiscal 2026 total revenue to be between $853 million and $854 million, a 7% year-over-year increase at the midpoint[43]

Transaction Overview - Baldwin Group 将与 CAC Group 合并[1,12] - 总交易对价为 10.26 亿美元（扣除预计递延所得税资产（“DTA”）后为 9.12 亿美元）[12] - 预计到 2028 年底，年度运行协同效应约为 6000 万美元[12] - 预计此次收购将使 2025 年的每股收益增加 20% 以上[12] CAC Group Overview - CAC Group 在 Business Insurance 2025 年美国 100 强经纪商榜单中排名第 35 位[15] - CAC Group 2026 年预计收入为 3.45 亿美元[16] - CAC Group 截至 2025 年 6 月 30 日的 LTM 保费为 22 亿美元[16] - CAC Group 2020 年至 2025 年 6 月 30 日的 LTM 有机收入复合年增长率为 29%[16] - CAC Group 2026 年预计调整后 EBITDA 为 9000 万美元（包括当年协同效应 1000 万美元）[16,17] - CAC Group 顾问的平均年龄为 46 岁[16] Combined Business - Baldwin + CAC 合并后的 2026 年预计总收入为 20.05 亿美元至 20.45 亿美元[21] - Baldwin + CAC 合并后的 2026 年预计调整后 EBITDA 为 4.7 亿美元至 4.9 亿美元[21]

CNM-Au8 & ALS Biomarkers - Clene announced statistically significant ALS biomarker results supporting an accelerated approval pathway for CNM-Au8® [1] - High NfL and GFAP levels are associated with mortality risk in ALS [21] - Substantiation of NfL biomarker effect may support acceptance of survival analyses [7, 28] - FDA guidance suggests that substantiation of NfL effects may allow 24-week data from the HEALEY platform trial and post-hoc analyses on long-term survival to provide evidence of clinical benefit [9, 10] - In the HEALEY ALS platform trial, CNM-Au8 demonstrated consistent effects on NfL and GFAP biomarkers [67] - In HEALEY trial, Plasma NfL W24 LS Mean GMR was 0.905 (95% CI: 0.822 – 0.996, p = 0.0403) and W24 AUC GMR was 0.901 (95% CI: 0.845 – 0.959, p = 0.0013) [69] - In HEALEY trial, Plasma GFAP W24 LS Mean GMR was 0.891 (95% CI: 0.798 – 0.995, p = 0.0401) and W24 AUC GMR was 0.913 (95% CI: 0.841 – 0.990, p = 0.0278) [72, 73] - In NIH-EAP trial, NfL and GFAP AUC decline is also consistent [75] Survival Analysis - NfL change significantly impacts ALS survival, with a joint-model hazard ratio of 1.40 (95% CI: 1.31 – 1.51) [108, 110] - Long-term survival evidence from the HEALEY ALS Platform Trial shows a 73% risk reduction at Month 12 in the Full Analysis Set and a 77% risk reduction in the Comparable Risk Set [113, 130, 133] - Improved long-term survival in ex-placebo to CNM-Au8 group, with a 51% risk reduction at 12-months post-CNM-Au8 treatment initiation [139, 140]