Financial Data and Key Metrics Changes - Revenues for Q2 2025 were $1.8 million, down from $3.1 million in Q2 2024, impacted by the expiration of the National Quantum Initiative [11][12] - Gross margins decreased to 31% in Q2 2025 from 64% in Q2 2024, affected by revenue mix and pricing variability in development contracts [12] - Total operating expenses increased to $20.4 million in Q2 2025 from $18.1 million in the prior year, due to salary increases, new hires, and higher consulting costs [12][13] - Operating loss for Q2 2025 was $19.9 million, compared to $16.1 million in Q2 2024, with a net loss of $39.7 million in Q2 2025 versus $12.4 million in Q2 2024 [13][14] - As of June 30, 2025, the company had approximately $571.6 million in cash and no debt [14] Business Line Data and Key Metrics Changes - The company achieved a median two-qubit gate error rate of 99.5% with the CFES-136U system, a 2x reduction from the previous ANCA-3 system [5][6] - The CFES-136Q is the first multi-chip quantum computer to achieve this level of performance, validating the company's approach to scaling quantum computers [5][7] Market Data and Key Metrics Changes - The expiration of the National Quantum Initiative and its pending reauthorization in the U.S. Congress is critical for future sales, particularly to U.S. and foreign governments [11][12] Company Strategy and Development Direction - The company aims to continue its momentum in technology development, with plans to release a 100+ qubit chiplet-based system at 99.5% median two-qubit gate fidelity before the end of 2025 [8][9] - The focus remains on R&D development, with the potential for M&A opportunities to accelerate timelines if beneficial [18][44] - The company believes that superconducting qubits are the leading modality for quantum computers due to their scalability and speed advantages [5][6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving technology milestones and emphasized that the key metric for long-term success is the achievement of technology goals rather than revenue growth [9] - The management team is optimistic about the bipartisan support for the reauthorization of the National Quantum Initiative, which is expected to enhance funding opportunities [69][70] Other Important Information - The company completed the sale of $350 million in common stock to strengthen its balance sheet [9] - The partnership with Quanta is viewed as strategic, focusing on control systems and hardware stack development [24][100] Q&A Session Summary Question: Use of proceeds from the recent equity raise - The company intends to focus on R&D development and will consider M&A opportunities if they can accelerate timelines [18][20] Question: Update on Quanta's involvement - Quanta is focused on developing control systems and is seen as a strategic partner for hardware development [24] Question: Confidence in achieving 100 qubit chip - The company is confident in reaching 100+ qubit systems with 99.5% fidelity by year-end, leveraging the chiplet approach [30][31] Question: Roadmap for gate speeds - The company aims to achieve gate speeds below 50 nanoseconds, which is critical for quantum advantage [47][50] Question: Current status of government funding - There is bipartisan support for the National Quantum Initiative reauthorization, with ongoing discussions in Congress [69][70] Question: Feedback from QBI or NQCC - The company is actively engaged with both organizations and is optimistic about progressing to phase two of the DARPA initiative [76][77] Question: Transitioning to larger chiplet sizes - The company is evaluating the optimal chiplet size and plans to transition before reaching 1,000 qubits [59][60] Question: Implications of chiplet approach on customer interest - The chiplet approach is seen as essential for scaling to fault-tolerant quantum computing, generating interest from government customers [86][87]

Financial Data and Key Metrics Changes - The company reported second quarter revenue of $27.4 million, exceeding guidance of $23.5 million to $26.5 million, and representing a 17% sequential increase from the first quarter [12][21] - Adjusted EBITDA loss for Q2 was $9.5 million, outperforming guidance of a loss between $10 million and $13 million, with an improvement of $4.8 million sequentially [12][22] - Scheduled service revenue increased by 20% in Q2 compared to Q1, while on-demand revenue rose by 5% [12][21] Business Line Data and Key Metrics Changes - Airline operations achieved profitability in Q2, with significant improvements in key operating metrics such as on-time departure and arrival, and controllable completion factor improved from 82% in Q1 to 95% in Q2 [5][12] - The on-demand business saw positive margins in June, attributed to a focus on product profitability and the introduction of a new jet card [7][12] Market Data and Key Metrics Changes - The company signed an interline agreement with Japan Airlines, enhancing passenger flow into its Hawaiian route network [6] - The essential air service (EAS) accounted for approximately 46% of scheduled service revenue, indicating its significance in the revenue mix [38] Company Strategy and Development Direction - The company is focused on transforming into a technology-led organization, emphasizing the development of the Surf OS software platform powered by Palantir [8][14] - Plans for 2026 include expanding the scheduled service network with new Tier one routes and aircraft from Textron Aviation [14][15] - The company is pursuing partnerships for electrification efforts, including a bilateral agreement with Elektra for hybrid electric aircraft [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory, highlighting improvements in capital structure, operational performance, and a focus on profitability [25] - The outlook for Q3 expects revenue to remain strong, projected between $27 million and $28.5 million, with adjusted EBITDA loss anticipated to be between $8.5 million and $10 million [23][24] Other Important Information - The company raised approximately $45 million in additional capital during Q2, which has accelerated operational improvements [13][19] - The agreement with Palantir positions the company as an exclusive partner for software configuration and sales to Part 135 operators and brokers [10][48] Q&A Session Summary Question: Can you talk about the go-to-market strategy for Surf OS? - The company is currently in the beta phase focusing on product development and identifying real use cases before moving to monetization strategies [28][29] Question: Any update on the certification process for electrification? - The company is on track for a late 2027 timeframe for its electrification initiative and is working with strategic partners [31][33] Question: How much more room for improvement is there in airline operations? - The company is in the middle innings of operational optimization, with ongoing improvements expected from the rollout of new applications [34][35] Question: What percentage of revenues were connected to essential air service? - Approximately 46% of scheduled service revenue is connected to essential air service [38] Question: What are the plans for the commercial launch of Surf OS? - The rollout is expected to begin in the first half of 2026, with a focus on proper implementation for initial partners [40][41] Question: Can you elaborate on the Palantir agreement? - The agreement expands the relationship with Palantir, allowing the company to be the exclusive partner for software sales to specific operators and to collaborate on larger projects [47][48] Question: What is the current controllable completion factor? - The controllable completion factor is currently around 95-96%, with efforts in place to maintain and optimize this performance [50][51]

Fathom (FTHM) Q2 2025 Earnings Call August 12, 2025 05:00 PM ET Speaker0Good afternoon and welcome to Fathom Holdings Second Quarter twenty twenty five Conference Call. Joining us today is the company's President and CEO, Marco Fresenal and Vice President of Finance, Daniel Weinman. Before I turn things over to management, I want to remind listeners that today's call may include forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statem ...

Urgent.ly (ULY) Q2 2025 Earnings Call August 12, 2025 05:00 PM ET Speaker0Good afternoon and welcome to the Urgently Second Quarter twenty twenty five Earnings Conference Call. All participants will be in listen only mode. Please note this event is being recorded. I would now like to turn the conference over to Jenny Mitchell, Vice President, Finance, Strategy and Investor Relations. Please go ahead.Speaker1Thank you, operator. Good afternoon, everyone, and thank you for joining us for Urgently's financial ...

Financial Data and Key Metrics Changes - For Q2 2025, the company reported consolidated revenue of $84.8 million, with adjusted EBITDA of $33.5 million, reflecting a decline from $88.2 million in Q2 2024 [6][12] - Social casino revenues decreased by 14% year-over-year, totaling $69.3 million, while iGaming revenues from Super Nation nearly doubled, increasing by 96% to $15.5 million [12][13] - Adjusted EBITDA margin was 39.5% for Q2 2025, down from 42.5% in Q2 2024, with net cash flows from operating activities at $19.7 million, compared to $34.8 million in Q2 2024 [17][18] Business Line Data and Key Metrics Changes - The Flexit DoubleDown Casino app remains a significant cash flow generator, with ARPDAU at $1.33, unchanged from Q2 2024, and payer conversion rate increased to 7% from 6.7% in Q2 2024 [7][14] - Direct-to-consumer (DTC) revenue now accounts for over 15% of total social casino revenue, indicating a successful shift towards DTC monetization [8] - Super Nation's revenue of $15.5 million in Q2 2025 marked the highest quarterly performance since its acquisition, reflecting a growth of $2.3 million from the previous quarter [9][10] Market Data and Key Metrics Changes - The company is expanding its presence in Europe through the acquisition of Val Games, which primarily generates revenue in Germany [8] - The integration of Wow Games is expected to diversify revenue streams and enhance operational success in new markets [9][10] Company Strategy and Development Direction - The company is committed to enhancing shareholder value through strategic acquisitions and investments in both social casino and iGaming sectors [6][10] - The acquisition of Wow Games is seen as an opportunity to leverage existing strengths in the social casino business while expanding into the European market [8][32] - Future growth strategies include launching additional brand sites for Super Nation and exploring new gaming categories and geographic expansions [48][54] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in the social casino industry due to expected revenue declines in 2025 but remains committed to product development and marketing initiatives [15][16] - The company is optimistic about the growth potential of Super Nation, with plans to enhance retention and operational efficiency [48][56] Other Important Information - The transition to IFRS reporting is expected to have minimal impact on financial statements, primarily affecting lease treatment [4][12] - As of June 30, 2025, the company had a cash position of approximately $481.2 million, which was reduced following the acquisition payment [18][19] Q&A Session Summary Question: Balancing growth versus profitability for Wow Games - Management views Wow Games as an exciting opportunity to leverage strengths in Europe and plans to support its growth through existing expertise [24][25] Question: Future targets for direct-to-consumer revenue - Management is pleased with the current DTC revenue exceeding 15% and anticipates further growth but has not set a specific long-term target [26][28] Question: Background on the Wow Games acquisition process - The acquisition was seen as opportunistic, complementing the company's existing social casino business without detracting from other growth searches [32][33] Question: Impact of regulatory actions on the business - Management clarified that the company is not involved in the sweepstakes business and has not seen a quantifiable positive impact from regulatory actions against competitors [34][35] Question: Revenue and profitability expectations for iGaming - Management believes that Super Nation can achieve a profit margin of over 10% once sufficient scale is reached, with plans for further brand site launches [47][48] Question: Expansion plans beyond current markets - The company is exploring additional licenses in various European countries and Canada, aiming for regional expansion [53][54]

Caris Life Sciences (CAI) Q2 2025 Earnings Call August 12, 2025 04:30 PM ET Company ParticipantsNarendra Chokshi - SVP - Corporate DevelopmentBrian Brille - EVP & Vice ChairmanDavid Spetzler - PresidentLuke Power - SVP, CFO & Chief Accounting OfficerMichael Ryskin - Managing DirectorNone - ExecutiveVijay Kumar - Senior MDColleen Babington - Equity Research AssociatePatrick Donnelly - Managing DirectorConference Call ParticipantsDaniel Brennan - MD & Senior Equity Research AnalystRachel Vatnsdal - Senior Equ ...

Financial Data and Key Metrics Changes - The company reported total revenue growth of 4.2% year-over-year, reaching $3.8 billion in fiscal year 2025 [6][16] - EBITDA for the fiscal year was $976 million, reflecting a 1.4% improvement compared to the previous year [18] - Net income from continuing operations was $609 million, with earnings per share increasing by 6.8% to $4.42 [19] Business Line Data and Key Metrics Changes - Assisted revenue grew by 6.1%, while DIY revenue increased by 9.7% [7] - The company-owned assisted filing volume improved, contributing to market share growth, particularly among clients earning over $100,000 [8] - Small business services achieved double-digit top-line growth, marking a record revenue year [9][10] Market Data and Key Metrics Changes - The company experienced client growth across all income segments, particularly among those earning $80,000 and above [8] - Spruce mobile banking platform saw nearly 40% growth in new accounts, with total customer deposits reaching $1.75 billion since its launch [11][12] Company Strategy and Development Direction - The company is focused on enhancing client experience and balancing volume, price, and mix in its offerings [16][58] - Continued emphasis on serving small businesses through a range of services, including tax, bookkeeping, and payroll [13] - Plans to acquire franchise locations at attractive EBITDA multiples to support long-term growth [14][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to capture market share and drive growth through AI and improved client experiences [12][24] - The outlook for fiscal year 2026 anticipates revenue between $3.875 billion and $3.895 billion, with EBITDA projected between $1.015 billion and $1.035 billion [23] - The company expects industry growth to align with historical trends, around 1% [22] Other Important Information - A 12% increase in the quarterly dividend was announced, marking a doubling of dividends since 2016 [6][21] - The company returned approximately $600 million to shareholders through dividends and share repurchases in fiscal year 2025 [21] Q&A Session Summary Question: What are the assumptions for assisted and DIY market growth next year? - Management anticipates a similar level of shift to the assisted business as seen in the previous year, driven by consumer demand for assistance [30][32] Question: Will there be changes to bank products to drive early season filers? - Management acknowledged the possibility but deferred specific comments until November for competitive reasons [35] Question: What will be shared in the first quarter call regarding the new strategy? - Management confirmed that the existing strategy will continue under the new CEO, with updates on tax season plans and broader business perspectives expected [40][41] Question: What are the impacts of legal fees and severance on guidance? - Elevated costs from healthcare, legal expenses, and severance have been factored into the fiscal year 2026 guidance, with expectations for improved cost management [46][49] Question: Is the new tax implication a tailwind for guidance? - Management believes it is a tailwind and is cautiously optimistic, using previous shifts as a proxy for future performance [51]

Financial Data and Key Metrics Changes - LogicMark reported a 22% year-over-year revenue growth for Q2 2025, reaching $2.9 million, marking the strongest growth pace in recent years [4][14] - Gross profit for Q2 2025 was $1.9 million, up 24% compared to the same quarter last year, with gross margin improving by 99 basis points to 67.5% [14][15] - Net loss attributable to common shareholders for Q2 2025 was $2.1 million, unchanged from the same period last year, with a significant improvement in net loss per share due to a higher number of weighted average common shares outstanding [16][17] Business Line Data and Key Metrics Changes - Growth was driven by higher sales of the Freedom Alert Mini and the upgraded Guardian Alert 911 Plus units [14] - The company is focusing on expanding its product offerings to include predictive and preventive technology, enhancing its hardware and software ecosystem [11][12] Market Data and Key Metrics Changes - The caregiving market is experiencing significant growth, with an estimated 63 million Americans providing ongoing care, representing a 45% increase since 2015 [6][7] - LogicMark is positioned to serve the growing demand for personal safety solutions, particularly in the aging population segment [5][10] Company Strategy and Development Direction - LogicMark aims to deliver affordable, innovative personal safety solutions, focusing on technology that supports aging in place and peace of mind [5][12] - The company is investing in sales leadership and partner engagement to accelerate growth, particularly in the B2B sector [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing demand for their products, particularly from the VA, despite potential changes in government funding [26][28] - The company is optimistic about its strategic initiatives and believes that current efforts will generate meaningful and lasting value [12][31] Other Important Information - LogicMark completed a registered public offering resulting in gross proceeds of $14.4 million, strengthening its cash position [18] - The transition to the OTC market was completed in Q2 2025, allowing the company to focus more on business execution [12] Q&A Session Summary Question: Can you talk about your customer mix as you try to become a safety and security company for a broad range of demographics? - Management indicated that the company is still heavily skewed towards the government sector but is seeing growth in the B2B business, particularly in senior living and independent living categories [20][21][23] Question: How confident are you that there will be no change in your ongoing discussions with the VA that might impact the company? - Management acknowledged that while changes are expected within the VA, they have not seen a slowdown in demand for their products among aging veterans [25][26][28]

Financial Data and Key Metrics Changes - The company reported total revenue growth of 4.2% year-over-year, reaching $3.8 billion in fiscal year 2025 [6][17] - EBITDA for the fiscal year was $976 million, reflecting a 1.4% improvement compared to the previous year [19] - Net income from continuing operations was $609 million, with earnings per share increasing by 6.8% to $4.42 [20] Business Line Data and Key Metrics Changes - Assisted revenue grew by 6.1%, while DIY revenue increased by 9.7% [7] - Small business revenue experienced double-digit growth, marking a record revenue year for fiscal 2025 [10] - The Spruce mobile banking platform saw nearly 40% growth in newly created accounts, with total customer deposits reaching $1.75 billion since its launch [12][13] Market Data and Key Metrics Changes - The company noted client growth in every income segment above $80,000, with the fastest growth in clients earning over $100,000 [8] - The company experienced a mix shift of about 21 basis points towards the assisted business, indicating a trend towards seeking assistance [33] Company Strategy and Development Direction - The company remains focused on strengthening its operations, generating meaningful cash flow, and increasing shareholder value [5] - There is a commitment to enhancing the client experience and leveraging AI to drive efficiency across the business [13][15] - The company plans to continue acquiring franchise locations to support long-term revenue and earnings growth [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the upcoming fiscal year, expecting industry growth to align with historical trends of about 1% [22] - The company anticipates small business contributions to increase significantly in fiscal 2026 and beyond [23] - Management acknowledged the challenges faced in fiscal 2025, including elevated healthcare costs and legal fees, but expressed confidence in cost-saving opportunities for fiscal 2026 [50][52] Other Important Information - The company announced a 12% increase in its quarterly dividend, marking a doubling of dividends since 2016 [6][22] - A succession plan was discussed, with Curtis set to take over as President and CEO starting January 1, 2026 [27][28] Q&A Session Summary Question: What are the assumptions for assisted and DIY market growth next year? - Management indicated a similar level of shift to the assisted business as seen in the previous year, anticipating continued demand for assistance [33][34] Question: Will there be changes to bank products to drive early season filers? - Management acknowledged the possibility but preferred to reserve detailed commentary until November for competitive reasons [38] Question: What will be shared in the first quarter call regarding strategy? - Management confirmed that the strategy will remain consistent, with updates on tax season plans and broader business perspectives expected [44][45] Question: What are the impacts of legal fees and severance on guidance? - Elevated costs from healthcare, legal expenses, and severance were factored into the fiscal 2026 guidance, with expectations for improved cost management [49][52] Question: Is the new tax implication a tailwind for guidance? - Management confirmed that they believe it to be a tailwind and are cautiously optimistic based on previous shifts in the market [55] Question: What initiatives support a healthier balance of volume, price, and mix? - Management elaborated on driving price increases while also focusing on greater volume performance and complexity of clients to achieve a balanced revenue mix [61][62]

Financial Data and Key Metrics Changes - Total operating expenses for Q2 2025 were $13.5 million, a 24% decrease from $17.7 million in Q2 2024 [14] - GAAP net loss for Q2 2025 was $13.2 million or $2.23 per share, compared to a net loss of $15.2 million or $2.59 per share in Q2 2024 [15] - Non-GAAP adjusted net loss for Q2 2025 was $13.3 million or $2.23 per share, compared to $16.8 million or $2.86 per share in Q2 2024 [15] - Cash burn rate for Q2 2025 was approximately $13.4 million, with an expectation of full-year 2025 cash burn around $50 million [16] Business Line Data and Key Metrics Changes - Research and development expenses for Q2 2025 were $9.1 million, down from $10.9 million in Q2 2024 [14] - General and administrative expenses for Q2 2025 were $4.1 million, compared to $5.6 million in Q2 2024 [14] - Sales and marketing expenses for Q2 2025 were $300,000, down from $1.2 million in Q2 2024 [14] Company Strategy and Development Direction - The company is focusing on completing a fully integrated production equivalent system before initiating clinical trials, shifting away from near-term targets for first clinical use (FCU) [11] - The new CEO emphasizes the importance of ensuring the system is ready for commercialization before proceeding with clinical trials [10][11] - The company aims to refine its timelines and evaluate progress across development programs while engaging with the Board and investors regarding capital strategy [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges of the current market environment but expresses confidence in the company's technology and mission to transform surgical care [18] - The new CEO is optimistic about the company's potential and the need for a system that addresses real problems in the surgical field [40][44] - Management is committed to providing reliable guidance to investors once a clearer understanding of development timelines is established [36][58] Other Important Information - The company ended Q2 2025 with approximately $24 million in cash, cash equivalents, and short-term investments [15] - The leadership transition is seen as an opportunity to reassess the company's development path and strategy [5][6] Q&A Session Summary Question: Can you discuss the process of prioritizing system readiness and the impact on clinical trial timelines? - The new CEO is focused on understanding the requirements for a full production equivalent system and ensuring that resources are allocated effectively to avoid rushing into clinical trials with an incomplete system [24][25] Question: What was anticipated to be spent on clinical trials, and how does that affect cash burn guidance? - Current budgeted costs for clinical trials are not expected to materially change the overall 2025 budget, as most groundwork does not require significant spending [30] Question: What milestones should investors expect by the end of the year? - The CEO indicates that it is too early to provide specific dates for milestones, as clarity will come after a thorough assessment of the current development status [35][36] Question: How does the company view its ability to fund development with current cash on hand? - The CEO expresses confidence in the company's potential and the need for the system being developed, emphasizing that the groundwork has already been laid for future success [39][41] Question: What led to the conclusion that the system is not ready for first in human trials? - Management identified several issues that need to be addressed before proceeding, including hardware and software adjustments, which require additional time and effort [50][52] Question: Will the timeline for clinical milestones shift significantly? - The CEO cannot provide specific guidance on timeline shifts until the assessment is completed, but he is optimistic about the visibility of the goal line as the assessment progresses [58][59]