Transaction expands IES’s fabrication footprint and adds services capabilities
November 07, 2025 08:15 ET
| Source:
IES Holdings, Inc.; Gulf Island Fabrication, Inc.
HOUSTON and THE WOODLANDS, Texas, Nov. 07, 2025 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (“IES”) (NASDAQ: IESC) and Gulf Island Fabrication, Inc. (“Gulf Island”) (NASDAQ: GIFI) today announced that they have entered into a definitive agreement, providing for the acquisition of Gulf Island, a leading steel fabricator and service provider to the industrial, energy and government sectors, by IES. Under the terms of the agreement, IES will pay $12.00 in cash per Gulf Island share, or an aggregate equity value of approximately $192 million.
The transaction has been approved by the boards of directors of both companies and is currently expected to close in the quarter ending March 31, 2026, subject to Gulf Island shareholder approval, regulatory approvals (including clearance under the Hart-Scott-Rodino Antitrust Improvements Act) and other customary closing conditions. Certain holders of approximately 20% of Gulf Island’s outstanding shares of common stock have entered into voting agreements to support the transaction, and IES, which owns approximately 3.5% of Gulf Island’s outstanding shares of common stock, has also agreed to vote in favor of the transaction.
Strategic Rationale
Strategically located Gulf Coast fabrication campus: Gulf Island’s Houma, Louisiana facility, which consists of a 450,000-square foot fabrication and operations facility on 160 acres, offers a strategic complement to IES’s footprintExpanded services capabilities: Provides an experienced craft workforce and specialty services with proven ability to support complex, schedule-driven projectsAligned with U.S. infrastructure needs: Enhances IES’s ability to support the building and rebuilding of U.S. infrastructureOperational continuity and culture: Shared focus on safety, quality and execution with complementary customer relationships Matt Simmes, President and Chief Executive Officer of IES, commented, “Gulf Island’s team and its Houma footprint strategically expand our capabilities to deliver complex steel structures and specialty services that support our continued growth in the data center market as well as the building and rebuilding of U.S. infrastructure. We look forward to welcoming Gulf Island’s employees and serving customers with greater scale and flexibility.”
“We are excited to join IES,” said Richard Heo, President and Chief Executive Officer of Gulf Island. “IES’s long-term strategy and resources will help us accelerate our initiatives while maintaining our commitment to safety, quality and on-time delivery for our customers. At closing, Gulf Island shareholders will receive cash of $12.00 per share, which represents a 52% premium to Gulf Island’s trading price as of November 6, 2025, and our customers and employees will benefit from IES’s strategic resources and industry expertise.”
Gulf Island Third Quarter 2025 Earnings Conference Call
In light of the proposed transaction with IES, Gulf Island will not hold an earnings conference call to discuss its financial results for the third quarter ended September 30, 2025.
About IES Holdings, Inc.
IES designs and installs integrated electrical and technology systems and provides infrastructure products and services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities. Our more than 10,000 employees serve clients in the United States. For more information about IES, please visit www.ies-co.com.
About Gulf Island
Gulf Island is a leading fabricator of complex steel structures, modules and automation systems, and a provider of specialty services, including engineering, project management, commissioning, repair, maintenance, scaffolding, coatings, welding enclosures, cleaning and environmental, and technical field services to the industrial, energy and government sectors. Gulf Island’s customers include U.S. and, to a lesser extent, international energy producers; refining, petrochemical, LNG, industrial and power operators; EPC companies; and federal, state and local governments. Gulf Island is headquartered in The Woodlands, Texas and its primary operating facilities are located in Houma, Louisiana and Houston, Texas. For more information about Gulf Island, please visit www.gulfisland.com.
Company Contacts: Tracy McLauchlin Westley S. StocktonChief Financial Officer Chief Financial OfficerIES Holdings, Inc. Gulf Island Fabrication, Inc.(713) 860-1500 (713) 714-6100 Investor Relations Contact: Robert Winters or Stephen Poe Alpha IR Group 312-445-2870 [email protected]
Certain statements in this release may be deemed “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, all of which are based upon various estimates and assumptions that IES and Gulf Island believe to be reasonable as of the date hereof. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “seek,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” the negative of such terms or other comparable terminology. These statements involve risks and uncertainties that could cause IES’s and Gulf Island’s actual future outcomes to differ materially from those set forth in such statements. Such risks and uncertainties include, but are not limited to, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement or Company Change in Recommendation (as defined in the merger agreement); the inability to complete the proposed merger due to the failure to obtain the shareholder approval necessary for the proposed merger; the failure to obtain, delays in obtaining, or adverse conditions contained in any required regulatory or other approvals for consummation of the proposed merger or the failure to satisfy other conditions to completion of the proposed merger; the failure of the proposed merger to close for any other reason; risks related to disruption of management’s attention from the companies’ ongoing business operations due to the proposed merger; the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted against Gulf Island and IES relating to the merger agreement, merger or otherwise; the risk that the pendency of the proposed merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the pendency of the proposed merger; the effect of the announcement of the merger on Gulf Island’s relationships with its contractual counterparties, including customers, operating results and business generally; and the amount of the costs, fees, expenses and charges related to the merger; a general reduction in the demand for IES’s or Gulf Island’s products or services; changes in general economic conditions, including supply chain constraints, high rates of inflation, changes in consumer sentiment, elevated interest rates, and market disruptions resulting from a number of factors, including geo-political events; competition in the industries in which IES or Gulf Island operate, which could result in the loss of one or more customers or lead to lower margins on new projects; IES’s and Gulf Island’s ability to successfully manage and execute projects, the cost and availability of qualified labor and the ability to maintain positive labor relations, and IES’s and Gulf Island’s ability to pass along increases in the cost of commodities used in IES’s or Gulf Island’s business; supply chain disruptions due to IES’s or Gulf Island’s suppliers' access to materials and labor, their ability to ship products timely, or credit or liquidity problems they may face; inaccurate estimates used when entering into fixed-price contracts, the possibility of errors when estimating revenue and progress to date on percentage-of-completion contracts, and complications associated with the incorporation of new accounting, control and operating procedures; IES’s and Gulf Island’s ability to enter into, and the terms of, future contracts; the existence of a small number of customers from whom IES and Gulf Island derive a meaningful portion of their respective revenues; reliance on third parties, including subcontractors and suppliers, to complete projects; the inability to carry out plans and strategies as expected, including the inability to identify and complete acquisitions that meet IES’s or Gulf Island’s investment criteria, or the subsequent underperformance of those acquisitions; challenges integrating new businesses or new types of work, products or processes; backlog that may not be realized or may not result in profits; failure to adequately recover on contract change orders or claims against customers; closures or sales of facilities resulting in significant future charges or a significant disruption of operations; the impact of future epidemics or pandemics on IES’s or Gulf Island’s business; an increased cost of surety bonds affecting margins on work and the potential for IES’s or Gulf Island’s surety providers to refuse bonding or require additional collateral at their discretion; the impact of seasonality, adverse weather conditions, and climate change; fluctuations in operating activity due to factors such as cyclicality, downturns in levels of construction or the housing market, and differing regional economic conditions; difficulties in managing IES’s or Gulf Island’s billings and collections; accidents resulting from the physical hazards associated with IES’s or Gulf Island’s work and the potential for accidents; the possibility that IES’s or Gulf Island’s current insurance coverage may not be adequate or that IES or Gulf Island may not be able to obtain policies at acceptable rates; the effect of litigation, claims and contingencies, including warranty losses, damages or other latent defect claims in excess of IES’s or Gulf Island’s existing reserves and accruals; costs and liabilities under existing or potential future laws and regulations, including those laws and regulations related to the environment and climate change, as well as the inability to transfer, renew and obtain electrical and other professional licenses; interruptions to IES’s or Gulf Island’s information systems and cyber security or data breaches; expenditures to conduct environmental remediation activities required by certain environmental laws and regulations; loss of key personnel, ineffective transition of new management, or general labor constraints; credit and capital market conditions, including changes in interest rates that affect the cost of construction financing and mortgages, and the inability of some of IES’s or Gulf Island’s customers to obtain sufficient financing at acceptable rates, which could lead to project delays or cancellations; limitations on IES’s or Gulf Island’s ability to access capital markets and generate cash from operations to fund IES’s or Gulf Island’s capital needs; the impact on IES’s or Gulf Island’s effective tax rate or cash paid for taxes from changes in tax positions IES or Gulf Island have taken or changes in tax laws; difficulty in fulfilling the covenant terms of IES’s or Gulf Island’s revolving credit facility, including liquidity, and other financial requirements, which could result in a default and acceleration of any indebtedness under such revolving credit facility; reliance on certain estimates and assumptions that may differ from actual results in the preparation of IES’s or Gulf Island’s financial statements; uncertainties inherent in the use of percentage-of-completion accounting, which could result in the reduction or elimination of previously recorded revenues and profits; the recognition of potential goodwill, long-lived assets and other investment impairments; the existence of a controlling shareholder, who has the ability to take action not aligned with other shareholders or to dispose of all or a significant portion of the shares of IES’s or Gulf Island’s common stock it holds, which may trigger certain change of control provisions in a number of IES’s or Gulf Island’s material agreements; the relatively low trading volume of IES’s or Gulf Island’s common stock, which could increase the volatility of IES’s or Gulf Island’s stock price and could make it more difficult for shareholders to sell a substantial number of shares for the same price at which shareholders could sell a smaller number of shares; the possibility that IES or Gulf Island issues additional shares of common stock, preferred stock or convertible securities that will dilute the percentage ownership interest of existing stockholders and may dilute the value per share of IES’s or Gulf Island’s common stock; the potential for substantial sales of IES’s or Gulf Island’s common stock, which could adversely affect IES’s or Gulf Island’s stock price; the impact of increasing scrutiny and changing expectations from investors and customers, or new or changing regulations, with respect to environmental, social and governance practices; the cost or effort required for IES’s shareholders to bring certain claims or actions against us, as a result of IES’s designation of the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings; and the possibility that IES’s or Gulf Island’s internal controls over financial reporting and IES’s or Gulf Island’s disclosure controls and procedures may not prevent all possible errors that could occur, as well as other risk factors discussed in IES’s and Gulf Island’s annual report on Form 10-K for the year ended September 30, 2024 and December 31, 2024, respectively, and in IES’s and Gulf Island’s other reports on file with the SEC. You should understand that such risk factors could cause future outcomes to differ materially from those experienced previously or those expressed in such forward-looking statements. IES and Gulf Island undertake no obligation to publicly update or revise any information or any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
Forward-looking statements are provided in this press release pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of the estimates, assumptions, uncertainties, and risks described herein.
General information about IES Holdings, Inc. can be found at http://www.ies-co.com under "Investor Relations." IES's annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, as well as any amendments to those reports, are available free of charge through IES’s website as soon as reasonably practicable after they are filed with, or furnished to, the SEC.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in respect of the transaction between Gulf Island and IES. Gulf Island expects to announce a special meeting of its shareholders as soon as practicable to obtain shareholder approval of the proposed transaction. In connection with the transaction, Gulf Island intends to file relevant materials with the SEC, including a proxy statement in preliminary and definitive form. YOU ARE URGED TO READ THE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION AND THE PARTIES TO THE TRANSACTION. You may obtain a free copy of these materials (when they are available) and other documents filed by Gulf Island with the SEC at the SEC’s website at www.sec.gov, at the investor relations section of Gulf Island’s website located at https://ir.gulfisland.com/sec-filings/all-sec-filings, or by requesting copies from the Secretary of Gulf Island at (713) 714-6100 or 2170 Buckthorne Place, Suite 420, The Woodlands, Texas, 77380.
Participants to Solicitation
The directors and executive officers of Gulf Island, and other persons, may be deemed to be participants in the solicitation of proxies in respect of the transaction. Information regarding Gulf Island’s directors and executive officers is available in Gulf Island’s definitive proxy statement filed with the SEC on April 10, 2025 in connection with Gulf Island’s 2025 annual meeting of shareholders. This document can be obtained free of charge from the sources indicated above. Other information regarding persons who may be deemed participants in the solicitation of proxies and a description of their interests, by security holdings or otherwise, will be included in the proxy statement relating to the transaction (when available) and other relevant materials to be filed with the SEC.
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Amazon.com Inc. (NASDAQ: AMZN) has been one of the stock market’s biggest success stories ever. The company had its initial public offering in May 1997 and traded for an astonishingly low split-adjusted price of just seven cents per share.
Since then, the stock has gained over 323,900% as the company has grown into the linchpin of e-commerce. Since its inception, Amazon has become a mainstay in the Magnificent 7 and now commands the fifth-largest market cap of any publicly traded company.
Amazon.com Inc. (NASDAQ: AMZN) has been one of the stock market’s biggest success stories ever.
For Amazon investors, the only thing that matters now is what the stock does from this point forward.
So, here 24/7 Wall St. makes bullish, bearish, and baseline cases for where Amazon’s share price will be in 2030.
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However, for investors, what matters most now is how the stock performs going forward. Let’s crunch the numbers on a 2030 price prediction for Amazon. Of course, no one has a crystal ball. But based on the macroeconomic environment, industry trends, Amazon’s growth metrics, and other factors such as price-to-earnings (P/E) ratios, 24/7 Wall St. can make cases for bulls, bears, and a baseline.
Amazon’s Performance Over the Past Decade
From 2014 to 2024, shares of Amazon surged by more than 1,025%, from $19.94 to $223.75. A considerable amount of that gain came between March 2020—coinciding with the arrival of the COVID-19 pandemic—and last year. From March 13, 2020, through the end of December 2024, the stock climbed from $89.25 per share to $134.50, a gain of 150.70%, as the company became the focal point for sourcing materials during lockdowns.
Over the past decade, revenue increased from $89 billion to $638 billion, an astounding increase of more than 616%. At the same time, net income (profit) grew from −$0.241 billion to $59.2 billion, which translates to an incredible gain of 24,664.3%.
The ride up was not always smooth, though. All those COVID-19 era sales being “pulled forward” led to challenges in 2022, and the company swung to a surprise loss. As Amazon enters the back half of the decade, a few different key areas will determine its performance.
Three Key Drivers of Amazon’s Performance Through 2030
1. E-commerce Success: While the pandemic resulted in record sales for Amazon, it also led to many competitors investing heavily to compete with the online retail giant. While e-commerce still makes up just 15% of retail sales, the company accounted for 40% of all U.S. e-commerce sales in 2023. With few companies capable of disrupting its market share, Amazon is likely to continue to dominate.
2. Amazon Web Services: Amazon Web Services is the world’s largest cloud provider. Additionally, it is Amazon’s most profitable business segment. However, the unit isn’t growing as fast as competing cloud services like Azure, offered by Microsoft Corp. (NASDAQ: MSFT), and Google Cloud, offered by Alphabet Inc. (NASDAQ: GOOGL). Nonetheless, Amazon is at risk of falling behind Microsoft before 2030 if it can’t stop market share losses. Nonetheless, it generated $107.6 billion in sales in 2024 and should remain in its position as the world’s largest cloud service.
3. Advertising: In 2024, Amazon’s full-year advertising revenue was $56.2 billion, bolstered by the first year that ads ran on Prime Video and the inclusion of the NFL’s Thursday Night Football. That figure was nearly double the amount Amazon generated in ad revenue from the prior three years. Advertising could be another high-margin business line for the company. Last year, Amazon’s ad business grew faster than the company’s overall growth and ranked third in the digital advertising space behind only Alphabet and Meta Platforms Inc. (NASDAQ: META).
Stock Price Prediction in 2030: Bull, Bear, & Baseline
24/7 Wall St. estimates that Amazon’s stock price in 2030 will be $431 in our bull case, $77 in our bear case, and $250 for our baseline case. Each of these estimates comes from specific scenario analysis into its e-commerce, cloud computing, and advertising businesses.
Bull Case for Amazon’s Share Price
Our bull case for Amazon assumes it continues to top Wall Street projections for the following reasons:
AWS: AWS will continue to expand its cloud-generated revenue. However, its slowing growth is leading to concerns Amazon will continue losing market share to Microsoft’s Azure. Our bull case assumes Amazon effectively stems share losses and the growth of new AI models propels AWS to an 18% compounded growth rate (CAGR) through 2030. With that assumption, we estimate AWS would generate $86 billion in operating profits in 2030.
E-commerce: Amazon continues to pour investments into its e-commerce business, giving up wider profit margins in order to maintain its market share. Our bull case model assumes growth in new logistics and efficiencies from robotics in warehouses leads to this unit finally delivering operating profits of about $30 billion annually.
Advertising: As of 2024, Amazon’s advertising has seen a CAGR of around 26% and has seen a run rate in excess of $50 billion. Our bull case assumes a 15% CAGR through 2030 with 40% operating margins, which results in $50 billion in operating profits by 2030.
Adding all these numbers together and subtracting some amount for “new bets” the company will likely invest in, we are left with about $150 billion in operating profits. Today, the company trades at about 50 times operating profit, which we reduce to 35 as the company matures (but continues to show strong growth). In our bull case analysis, Amazon is worth $5.25 trillion in 2030, or about $431 per share. This is 77.3% higher than the current share price.
Bear Case for Amazon’s Share Price
Our bear case scenario for Amazon is based on the following reasons:
Cloud Competition: The threat from Microsoft Azure (and to a lesser extent, Google Cloud) is very real. By mid-decade, operating profits could stop growing for AWS as competitive pressures mount. If that results in the company continuing to lose market share, expectations for stock growth could be tempered.
Unprofitable Business Segments: Amazon has seen years of unprofitability in certain business segments, which could resurface amid pushes to remain competitive in certain markets. For example, in 2023, Amazon’s North American segment generated $15 billion in profit, but its international segment incurred a $3 billion loss. In some years, its highly criticized Alexa efforts have resulted in recurring operating losses of about $5 billion per year.
Unsustainable Investments: If Amazon continues to burn money on “moonshots” looking for the next leg of growth, its share price could be hampered between now and 2030. Amazon is familiar with burning cash on ambitious projects, and its sizable investments in AI could be the next example.
In this scenario, 24/7 Wall St. still sees Amazon growing its net income beyond 2024’s $59.2 billion, which is a healthy increase from 2023. However, frustrated shareholders will not be willing to pay the elevated P/E ratio at which Amazon trades (30.55 in Q2 2025). Instead, we apply a 20x P/E, which better reflects Amazon in a low-growth state. Thus, in our bear case scenario, Amazon would trade for just $77 per share in 2030. This would be 68.3% lower than today.
Base Case for Amazon’s Share Price
Our baseline case for Amazon’s share price is much simpler. In this scenario, we simply look at Wall Street forecasts. Analysts see the company’s revenue rising from $710 billion in 2025 to $1.153 trillion by the end of 2030. Additionally, net income is projected to grow from $48.9 billion to $110.7 billion in the same time frame.
Long-term Wall Street forecasts generally overshoot, so assuming that 2030 net income comes in at $100 billion, AWS likely sees its growth slowed—but still expands by around a 10% CAGR—the company does not see as much profit from e-commerce as with our bull scenario and advertising also slows in the years to come. In this scenario, 24/7 Wall St. estimates Amazon’s P/E ratio would fall to about 26. This gives Amazon a baseline case share price of about $250, which would be a 2.9% gain.
Amazon Stock Price Prediction and Forecast 2025–2030
Zai Lab Limited (ZLAB) Q3 2025 Earnings Call November 6, 2025 8:00 AM EST
Company Participants
Christine Chiou - Senior VP & Head of Investor Relations
Ying Du - Founder, Chairperson & CEO
Rafael Amado - President and Head of Global Research & Development
Joshua Smiley - President & COO
Yajing Chen - Chief Financial Officer
Conference Call Participants
Jonathan Chang
Anupam Rama - JPMorgan Chase & Co, Research Division
Yigal Nochomovitz - Citigroup Inc., Research Division
Li Wang Watsek - Cantor Fitzgerald & Co., Research Division
Ziyi Chen - Goldman Sachs Group, Inc., Research Division
Yuxi Dong - Jefferies LLC, Research Division
Presentation
Operator
Hello, ladies and gentlemen. Thank you for standing by, and welcome to Zai Lab's Third Quarter 2025 Financial Results Conference Call. [Operator Instructions]. As a reminder, today's call is being recorded.
It is now my pleasure to turn the floor over to Christine Chiou, Senior Vice President of Investor Relations. Please go ahead.
Christine Chiou
Senior VP & Head of Investor Relations
Thank you, operator. Hello, and welcome, everyone. Today's earnings call will be led by Dr. Samantha Du, Zai Lab's Founder, CEO and Chairperson. She will be joined by Josh Smiley, President and Chief Operating Officer; Dr. Rafael Amado, President and Head of Global Research and Development; and Dr. Yajing Chen, Chief Financial Officer.
As a reminder, during today's call, we will be making certain forward-looking statements based on our current expectations. These statements are subject to numerous risks and uncertainties that may cause actual results to differ materially from what we expect due to a variety of factors, including those discussed in our SEC filings. We also refer to adjusted loss from operations, which is a non-GAAP financial measure.
Please refer to our earnings release furnished with the SEC on November 6, 2025, for additional information on this non-GAAP financial measure. At this
Rapid Micro Biosystems, Inc. (RPID - Free Report) came out with a quarterly loss of $0.26 per share in line with the Zacks Consensus Estimate. This compares to a loss of $0.26 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this company would post a loss of $0.26 per share when it actually produced a loss of $0.27, delivering a surprise of -3.85%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Rapid Micro Biosystems, which belongs to the Zacks Medical - Instruments industry, posted revenues of $7.84 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 0.79%. This compares to year-ago revenues of $7.6 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Rapid Micro Biosystems shares have added about 205.6% since the beginning of the year versus the S&P 500's gain of 14.3%.
What's Next for Rapid Micro Biosystems?While Rapid Micro Biosystems has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Rapid Micro Biosystems was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.23 on $9.8 million in revenues for the coming quarter and -$0.99 on $32.2 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Instruments is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Stereotaxis Inc. (STXS - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2025. The results are expected to be released on November 11.
This company is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of +25%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Stereotaxis Inc.'s revenues are expected to be $9 million, down 2.2% from the year-ago quarter.
2025-11-07 13:271mo ago
2025-11-07 08:161mo ago
AirSculpt Technologies, Inc. (AIRS) Reports Q3 Loss, Misses Revenue Estimates
AirSculpt Technologies, Inc. (AIRS - Free Report) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to a loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -300.00%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced earnings of $0.02, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
AirSculpt Technologies, which belongs to the Zacks Technology Services industry, posted revenues of $34.99 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 12.73%. This compares to year-ago revenues of $42.55 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
AirSculpt Technologies shares have added about 102.1% since the beginning of the year versus the S&P 500's gain of 14.3%.
What's Next for AirSculpt Technologies?While AirSculpt Technologies has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for AirSculpt Technologies was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is breakeven on $39.44 million in revenues for the coming quarter and -$0.01 on $162.93 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the top 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Fathom Holdings (FTHM - Free Report) , has yet to report results for the quarter ended September 2025. The results are expected to be released on November 11.
This company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of +75%. The consensus EPS estimate for the quarter has been revised 12.5% higher over the last 30 days to the current level.
Fathom Holdings' revenues are expected to be $102.12 million, up 22% from the year-ago quarter.
Q3: 2025-11-06 Earnings SummaryEPS of $0.22 beats by $0.06
|
Revenue of
$136.91M
(25.54% Y/Y)
beats by $8.61M
JFrog Ltd. (FROG) Q3 2025 Earnings Call November 6, 2025 5:00 PM EST
Company Participants
Jeffrey Schreiner - Vice President of Investor Relations
Shlomi Haim - Co-Founder, CEO & Chairman of the Board
Ed Grabscheid - Chief Financial Officer
Conference Call Participants
Michael Cikos - Needham & Company, LLC, Research Division
Sanjit Singh - Morgan Stanley, Research Division
William Kingsley Crane - Canaccord Genuity Corp., Research Division
Koji Ikeda - BofA Securities, Research Division
Mark Cash - Raymond James & Associates, Inc., Research Division
William Miller Jump - Truist Securities, Inc., Research Division
Brian Essex - JPMorgan Chase & Co, Research Division
Shrenik Kothari - Robert W. Baird & Co. Incorporated, Research Division
Ittai Kidron - Oppenheimer & Co. Inc., Research Division
Brad Reback - Stifel, Nicolaus & Company, Incorporated, Research Division
Andrew Sherman - TD Cowen, Research Division
Jason Celino - KeyBanc Capital Markets Inc., Research Division
Eamon Coughlin - Barclays Bank PLC, Research Division
Jonathan Ruykhaver - Cantor Fitzgerald & Co., Research Division
Robbie Owens - Piper Sandler & Co., Research Division
Presentation
Operator
Ladies and gentlemen, thank you for joining us, and welcome to the JFrog Third Quarter 2025 Financial Results Earnings Call.
[Operator Instructions]
I will now hand the conference over to Jeffrey Schreiner, Head of Investor Relations. Jeffrey, please go ahead.
Jeffrey Schreiner
Vice President of Investor Relations
Thank you, Nicole. Good afternoon, and thank you for joining us as we review JFrog's Third Quarter 2025 Financial Results, which were announced following the market close today via press release.
Leading the call today will be JFrog's CEO and Co-Founder, Shlomi Ben Haim; and Ed Grabscheid, JFrog's CFO. During this call, we may make statements related to our business that are forward-looking under federal securities laws and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our future financial performance and including our outlook
Claritev Corporation (CTEV - Free Report) came out with a quarterly loss of $4.07 per share versus the Zacks Consensus Estimate of a loss of $3.12. This compares to a loss of $1.85 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -30.45%. A quarter ago, it was expected that this company would post a loss of $2.69 per share when it actually produced earnings of $0.32, delivering a surprise of +111.9%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Claritev Corporation, which belongs to the Zacks Medical Info Systems industry, posted revenues of $245.96 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 4.87%. This compares to year-ago revenues of $230.49 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Claritev Corporation shares have added about 319.2% since the beginning of the year versus the S&P 500's gain of 14.3%.
What's Next for Claritev Corporation?While Claritev Corporation has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Claritev Corporation was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$3.07 on $236.34 million in revenues for the coming quarter and -$14.36 on $943.77 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical Info Systems is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, KORU Medical Systems, Inc. (KRMD - Free Report) , has yet to report results for the quarter ended September 2025. The results are expected to be released on November 12.
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
KORU Medical Systems, Inc.'s revenues are expected to be $9.72 million, up 18.8% from the year-ago quarter.
2025-11-07 13:271mo ago
2025-11-07 08:161mo ago
HA Sustainable Infrastructure Capital, Inc. (HASI) Q3 2025 Earnings Call Transcript
Q3: 2025-11-06 Earnings SummaryEPS of $0.80 beats by $0.11
|
Revenue of
$31.58M
(39.97% Y/Y)
beats by $2.98M
HA Sustainable Infrastructure Capital, Inc. (HASI) Q3 2025 Earnings Call November 6, 2025 5:00 PM EST
Company Participants
Aaron Chew - Head of IR
Jeffrey Lipson - President, CEO & Director
Charles Melko - Treasurer, Executive VP & CFO
Susan Nickey - Executive VP & Chief Client Officer
Marc T. Pangburn - EVP, Chief Revenue & Strategy Officer
Conference Call Participants
Jonathan Windham - UBS Investment Bank, Research Division
Christopher Dendrinos - RBC Capital Markets, Research Division
Noah Kaye - Oppenheimer & Co. Inc., Research Division
Davis Sunderland - Robert W. Baird & Co. Incorporated, Research Division
John Hurley - Mizuho Securities USA LLC, Research Division
Michael Fairbanks - JPMorgan Chase & Co, Research Division
Presentation
Operator
Greetings, and welcome to HASI's Third Quarter 2025 Earnings Conference Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Aaron Chew, the Senior Vice President of Investor Relations.
Aaron Chew
Head of IR
Thank you, operator, and good afternoon to everyone joining us today for HASI's Third Quarter 2025 Conference Call.
Earlier this afternoon, HASI distributed a press release reporting our third quarter 2025 results, a copy of which is available on our website, along with the slide presentation we will be referring to today. This conference call is being webcast live on the Investor Relations page of our website, where a replay will be available later today.
Some of the comments made in this call are forward-looking statements, which are subject to risks and uncertainties described in the Risk Factors section of the company's Form 10-K and other filings with the SEC. Actual results may differ materially from those stated. Today's discussion also includes some non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is available in our earnings release and presentation.
Joining us
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Banca Monte dei Paschi di Siena S.p.A. (BMDPF) Q3 2025 Earnings Call Transcript
Banca Monte dei Paschi di Siena S.p.A. (OTCPK:BMDPF) Q3 2025 Earnings Call November 7, 2025 3:00 AM EST
Company Participants
Luigi Lovaglio - CEO, GM & Director
Andrea Maffezzoni - CFO & Chief Financial Reporting Officer
Conference Call Participants
Antonio Reale - BofA Securities, Research Division
Marco Nicolai - Jefferies LLC, Research Division
Ignacio Ulargui - BNP Paribas, Research Division
Giovanni Razzoli - Deutsche Bank AG, Research Division
Hugo Moniz Marques Da Cruz - Keefe, Bruyette, & Woods, Inc., Research Division
Luis Pratas - Bernstein Autonomous LLP
Lorenzo Giacometti - Intermonte SIM S.p.A., Research Division
Andrea Lisi - Equita SIM S.p.A., Research Division
Presentation
Operator
Thank you very much. Good morning. This is the Chorus Call conference operator. Welcome, and thank you for joining the MPS Group Third Quarter and 9 Months 2025 Results Presentation. [Operator Instructions]
At this time, I would like to turn the conference over to Mr. Luigi Lovaglio, Chief Executive Officer and General Manager. Please go ahead, sir.
Luigi Lovaglio
CEO, GM & Director
Good morning, everyone. Thank you for joining us today for the presentation of our third quarter and 9 months 2025 financial results. This is a landmark moment for Monte Paschi. At the end of September, we successfully completed the acquisition of Mediobanca, a strategic move we have always believed in. And 86.3% of Mediobanca shareholders confirm that belief by tendering their shares. That's a clear endorsement of the industrial strength and the long-term value of this combination from both core shareholders and from Italian and international institutional investors.
So first, let me thank all of our shareholders for their trust and confidence in our vision and in our ability to execute. I also want to thank our people. Our teams at Monte Paschi have stayed laser-focused through intense months, and they continue to serve clients, deliver strong commercial momentum and produce another solid
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Strategic Education, Inc. (STRA) Q3 2025 Earnings Call Transcript
Q3: 2025-11-06 Earnings SummaryEPS of $1.63 beats by $0.33
|
Revenue of
$319.95M
(4.57% Y/Y)
beats by $5.22M
Strategic Education, Inc. (STRA) Q3 2025 Earnings Call November 6, 2025 10:00 AM EST
Company Participants
Terese Wilke - Director of Investor Relations
Karl McDonnell - President, CEO & Director
Daniel Jackson - CFO & Chief Administrative Officer
Conference Call Participants
Jasper Bibb - Truist Securities, Inc., Research Division
Jeffrey Silber - BMO Capital Markets Equity Research
Presentation
Operator
Welcome to Strategic Education's Third Quarter 2025 Results Conference Call. I will now turn the call over to Terese Wilke, Senior Director of Investor Relations for Strategic Education. Mrs. Wilke, please go ahead.
Terese Wilke
Director of Investor Relations
Thank you. Hello, everyone, and welcome to Strategic Education's conference call in which we will discuss third quarter 2025 results. With us today are Robert Silberman, Chairman; Karl McDonnell, President and Chief Executive Officer; and Daniel Jackson, Executive Vice President and Chief Financial Officer. Following today's remarks, we will open the call for questions.
Please note that this call may include forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements are based on current expectations and are subject to a number of assumptions, uncertainties and risks that Strategic Education has identified in today's press release that could cause actual results to differ materially.
Further information about these and other relevant uncertainties may be found in Strategic Education's most recent annual report on Form 10-K, the 10-Q to be filed and other filings with the Securities and Exchange Commission as well as Strategic Education's future 8-Ks, 10-Qs and 10-Ks. Copies of these filings and the full press release are available for viewing on the website at strategiceducation.com.
And now I'd like to turn the call over to Karl. Karl, please go ahead.
Karl McDonnell
President, CEO & Director
Thank you, Terese, and good morning, everyone.
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Gold market analysis for November 7 - key intra-day price entry levels for active traders
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another.
Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected "Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com. He received his degree from Iowa State University in Ames, Iowa, where he studied journalism and economics.
Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special.
1 877 963-NEWS
jwyckoff at kitco.com
Allied Gold Corporation (AAUC:CA) Q3 2025 Earnings Call November 6, 2025 9:00 AM EST
Company Participants
Peter Marrone - Chairman & CEO
Johannes Stoltz - Chief Operating Officer
Don Dudek - Chief Exploration Officer
Jason LeBlanc - Chief Financial Officer
Gerardo Fernandez - Chief Development Officer
Conference Call Participants
Carey MacRury - Canaccord Genuity Corp., Research Division
Justin Chan - SCP Resource Finance LP, Research Division
Mohamed Sidibe - National Bank Financial, Inc., Research Division
Ingrid Rico - Stifel Nicolaus Canada Inc., Research Division
Luke Bertozzi - CIBC Capital Markets, Research Division
Presentation
Operator
Thank you all for joining us this morning. Before I turn the call over, I need to advise that certain statements made during this call today may contain forward-looking information, and actual results could differ from the conclusions or projections in that forward-looking information, which include, but not limited to, statements with respect to the estimation of mineral reserves and resources, the timing and amounts of estimated future production, cost of production, capital expenditures, future metal prices, and the cost and timing of the development of new projects.
For a complete discussion of the risks, uncertainties, and factors, which may lead to the actual financial results and performance being different from the estimate contained in the forward-looking statements, please refer to Allied Gold's press release issued last night announcing quarter 3, 2025, operating and financial results.
I would like to remind everyone that this conference call is being recorded and will be available for replay later on today. Replay information and the presentation slides accompanying this conference call and webcast are available on Allied Gold's website at alliedgold.com.
I will now turn the call over to Peter Marrone, Chairman and CEO.
Peter Marrone
Chairman & CEO
Operator, thank you very much. And ladies and gentlemen, let me begin this conference call by pointing to the
, /PRNewswire/ -- Metallus (NYSE: MTUS), a leader in high-quality specialty metals, manufactured components, and supply chain solutions, released its third-quarter 2025 results on Thursday, November 6, on the New York Stock Exchange.
The company will provide live Internet listening access to its conference call with the financial community scheduled for Friday, November 7, 2025, at 9:00 a.m. ET. The live conference call will be broadcast at investors.metallus.com. A replay of the conference call will also be available at investors.metallus.com.
ABOUT METALLUS INC.
Metallus (NYSE: MTUS) manufactures high-performance specialty metals from recycled scrap metal in Canton, OH, serving demanding applications in industrial, automotive, aerospace & defense and energy end-markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of making high-quality steel for more than 100 years, Metallus' proven expertise contributes to the performance of our customers' products. The company employs approximately 1,850 people and had sales of $1.1 billion in 2024. For more information, please visit us at www.metallus.com.
SOURCE Metallus Inc.
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2025-11-07 13:271mo ago
2025-11-07 08:191mo ago
Stonegate Capital Partners Updates Coverage on BlackSky Technology, Inc. (BKSY) 3Q25
Dallas, Texas--(Newsfile Corp. - November 7, 2025) - BlackSky Technology, Inc. (NYSE: BKSY): Stonegate Capital Partners updates their coverage on BlackSky Technology, Inc. (NYSE: BKSY). BKSY reported revenue, adj EBITDA, and EPS of $19.6M, ($4.5)M, and ($0.44), respectively.
2025-11-07 13:271mo ago
2025-11-07 08:201mo ago
IPDN Welcomes His Highness Shaikh Ali Sultan Al Nuaimi of the UAE Royal Family as Independent Director
CHICAGO, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Professional Diversity Network, Inc. (Nasdaq: IPDN) (“IPDN” or the “Company”), a technology holding company focused on the application of AI technologies and AI-powered solutions, today announced the appointment of His Highness Shaikh Ali Sultan Al Nuaimi, a distinguished member of the Ajman Royal Family of the United Arab Emirates, to its Board of Directors as an Independent Director, effective as of November 5, 2025. This appointment is intended to support IPDN’s planned strategic expansion into the Middle East and reflects its focus on global digital innovation.
His Highness Shaikh Ali Sultan Al Nuaimi has an extensive background in both business and academia. He earned a Bachelor of Science in Finance from Portland State University (USA) and a master’s degree in business administration from the Canadian University of Dubai. His Highness currently serves as a principal executive of the renowned Al Nuaimi Group, a diversified family conglomerate with business interests across energy, construction, investments, trade, technology, and sustainable development throughout the Gulf region.
IPDN believes the addition of His Highness Shaikh Ali Sultan Al Nuaimi brings valuable expertise, strategic insight, and regional influence to IPDN’s global expansion strategy. His royal standing and extensive network across the Gulf Cooperation Council (GCC) nations will help foster collaboration with sovereign wealth funds, family offices, and regulated digital asset entities, potentially supporting IPDN’s next phase of international growth.
Xun Wu, CEO of IPDN, commented: “We are deeply honored to welcome His Highness Shaikh Ali Sultan Al Nuaimi to our Board of Directors. His visionary leadership and strategic acumen will be instrumental in advancing IPDN’s initiatives in the UAE and beyond. Together, we aim to accelerate the company’s participation in the digital asset ecosystem, including Real World Asset (RWA) tokenization, blockchain innovation, and compliant digital currency operations.”
In response, His Highness Shaikh Ali Sultan Al Nuaimi, remarked: “It is my great honor to join the Board of IPDN. The company has demonstrated a strong commitment to innovation and diversity within the global digital economy. I look forward to supporting IPDN’s strategic growth in the UAE and the Gulf region, contributing to the integration of traditional finance and emerging digital asset markets.”
With this appointment, IPDN intends to explore opportunities to enhance its operational presence in the UAE and further expand its partnerships within the Middle East. The company is evaluating initiatives in areas such as Web 3.0, RWA tokenization, blockchain-based finance, and entertainment industry digitization.
This appointment underscores IPDN’s commitment to fostering cross-border collaboration between the Middle East and North America. The company remains dedicated to building a transparent, compliant, and sustainable global digital ecosystem through innovation, partnership, and inclusive growth.
About Professional Diversity Network (IPDN)
Professional Diversity Network, Inc. (Nasdaq: IPDN) is a U.S.-listed company whose businesses span career development platforms, education technology, and artificial intelligence research. The Company is committed to enhancing shareholder value through diversification and technological innovation. The strategic partnership with OOKC reflects IPDN’s continued evolution into the AI, Web 3.0, and digital finance sectors.
For more information about Professional Diversity Network, Inc, please visit www.ipdn.com.
Forward-Looking Statement
This press release contains numerous forward-looking statements, particularly regarding the potential impact of the new board member appointment, the Company's expansion into the Middle East, and its initiatives in emerging technologies like AI, Web 3.0, and digital assets. These forward-looking statements are made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical facts in this announcement are forward-looking statements, including, but not limited to: any projections of earnings, revenue, or other financial items; any statements regarding the adequacy, availability, and sources of capital, any statements of the plans, strategies, and objectives of management for future operations; any statements regarding the future benefits of the investment described in this release, including the development of new revenue streams or the availability of distributions on any securities; any statements relating to the future reinstatement of the license described in this release by the applicable regulatory authorities; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Statements that are not historical facts, including statements about IPDN’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, whether known or unknown, and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “will make,” “will be,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “endeavor to,” “is/are likely to,” or other similar expressions. These statements are subject to risks and uncertainties and are not guarantees of future performance. The Company's actual results may differ materially from those expressed or implied in such forward-looking statements. Further information regarding these and other risks is included in our annual report and other filings with the U.S. Securities and Exchange Commission (the “SEC”). All information provided in this press release is as of the date of this press release, and IPDN undertakes no obligation to update any forward-looking statements, except as may be required under applicable law.
Press Contact for IPDN:
Professional Diversity Network, Inc.
Tel: (312) 614-0950
Email: [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d4dbfb29-ad98-472c-b504-088cc900fa1c
2025-11-07 13:271mo ago
2025-11-07 08:201mo ago
Amazon unveils latest move to keep customers from shopping elsewhere
At a Whole Foods store just outside of Philadelphia, Amazon built a small warehouse housing Goldfish crackers, Tide Pods and other items you wouldn't find in an organic grocery store.
Amazon, which acquired Whole Foods in 2017, said the concept is a new experiment from the company to supplement the granola shopping experience of a Whole Foods with name-brand items found in other grocery stores.
But cases of Coca-Cola and boxes of Cheez-It crackers won't share the shelves with their organic-branded counterparts.
Instead, the 10,000-square-foot warehouse Amazon constructed in Plymouth Meeting, Pennsylvania, within the Whole Foods' back-of-house area acts as a micro fulfillment center. Shoppers will find QR codes throughout the store that take them to a custom digital storefront where they can order items not usually stocked in a Whole Foods, then pick them up in the store.
Jason Buechel, vice president of Amazon Worldwide Grocery Stores and CEO of Whole Foods, said in a news release that the move is to keep customers from shopping elsewhere after hitting up Whole Foods.
"At Whole Foods Market, we've always taken pride in offering a wide selection of natural and organic products, but we understand our customers appreciate the convenience of one-stop shopping," he said.
Amazon has been trying to broaden its reach in the grocery industry and hack at the market share dominated by companies like Walmart. The company's other ventures into physical stores include its Amazon Fresh grocery stores and Amazon Go convenience stores.
Amazon has also broken into the grocery delivery game, a business that CEO Andy Jassy recently said is growing fast.
Speaking during an earnings call with analysts last week, Jassy said over the past year, Amazon's grocery business, not counting Whole Foods or Fresh, has brought in over $100 billion in gross sales, "which would make us a top three grocery in the U.S."
Jassy also said Whole Foods is expanding over the next few years and recently launched a smaller version of the store for urban settings.
"We have three that we've launched that are off to very good starts that you should expect to see more of as well, Jassy said.
2025 The Seattle Times. Distributed by Tribune Content Agency, LLC.
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Amazon unveils latest move to keep customers from shopping elsewhere (2025, November 7)
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2025-11-07 13:271mo ago
2025-11-07 08:211mo ago
Gray Media (GTN) Reports Q3 Loss, Beats Revenue Estimates
Gray Media (GTN - Free Report) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of a loss of $0.41. This compares to earnings of $0.86 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +41.46%. A quarter ago, it was expected that this broadcast television company would post a loss of $0.23 per share when it actually produced a loss of $0.42, delivering a surprise of -82.61%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Gray Media, which belongs to the Zacks Broadcast Radio and Television industry, posted revenues of $749 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.27%. This compares to year-ago revenues of $950 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Gray Media shares have added about 46% since the beginning of the year versus the S&P 500's gain of 14.3%.
What's Next for Gray Media?While Gray Media has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Gray Media was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.05 on $810 million in revenues for the coming quarter and -$1.40 on $3.11 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Broadcast Radio and Television is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
iHeartMedia (IHRT - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2025. The results are expected to be released on November 10.
This radio company is expected to post quarterly earnings of $0.00 per share in its upcoming report, which represents a year-over-year change of +100%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
iHeartMedia's revenues are expected to be $980.87 million, down 2.7% from the year-ago quarter.
2025-11-07 13:271mo ago
2025-11-07 08:221mo ago
Expedia Stock Surges After Earnings. How It's Defying Travel Slowdown Fears.
TORONTO, ON / ACCESS Newswire / November 7, 2025 / Aclara Resources Inc. ("Aclara" or "Company") (TSX:ARA) was pleased to host representatives from eVAC Magnetics LLC and Vacuumschmelze (VAC), at its Carina Project pilot plant facility this week, strengthening the ongoing collaboration between both companies to design and implement a fully integrated, ESG-focused rare earths supply chain for permanent magnets.
The visit provided VAC's technical and commercial teams with a first-hand look at the advances achieved at Aclara's pilot operations for the Carina Project in Goiás, Brazil, which produced ~150kg of high purity mixed rare earth carbonates ("MREC") through the Company's proprietary Circular Mineral Harvesting process.
Aclara's high-purity MREC is planned to be further refined into individual rare earth oxides at its recently-announced separation facility in Louisiana, United States. In addition, Aclara envisions developing metals and alloys processing capabilities at the same site to convert these oxides into the specialized alloys required for magnet production.
The visit provided a valuable platform for in-depth technical discussions on product specifications, process scalability, and integration pathways with VAC's magnet manufacturing operations in the United States and worldwide, including the eVAC magnet production facility which opened this year in South Carolina, United States.
Jose Palma, Executive Vice-president of Aclara, commented:
"VAC's visit to our pilot facilities represents another tangible step toward realizing our shared vision of an integrated, transparent, and sustainable mine-to-magnets supply chain. Aclara is uniquely positioned to supply significant quantities of heavy rare earth elements by mid-2028, perfectly aligning with VAC's growth plans in the United States and globally. Together, we are building a pathway that not only strengthens the Western Hemisphere's independence in critical minerals but also sets a new standard for environmental and social responsibility in the industry".
Scott Pelhank, Vice President VAC Sales / Officer eVAC Magnetics LLC., commented:
"We were thrilled to visit the Carina Project this week and discuss our shared goal of establishing a revolutionary mine-to-magnet supply chain in the Western Hemisphere. eVAC's Phase II upstream process extension to metallization, scheduled for early 2027 in South Carolina, aligns perfectly with Aclara's downstream expansion of its oxide separation facility in Louisiana. We greatly value our strategic partnership with Aclara, and we are excited to see their continued progress in developing a sustainable, reliable, and scalable rare earth supply chain, driven by their mining operations in Brazil and by our respective investments in the United States."
Aclara and VAC hold high purity mixed rare earth carbonates at the Company's pilot plant inGoiás, Brazil
VAC tours Aclara's pilot plant facilities
Strengthening the Aclara-VAC Alliance
The visit reinforces the Memorandum of Understanding ("MoU") signed between Aclara and VAC in 2024, which formalized the parties' intent to jointly develop a sustainable "mine-to-magnets" solution for OEMs in the electric vehicle, renewable energy, robotics and advanced manufacturing sectors.
Under the MoU, Aclara and VAC agreed to:
Collaborate technically and commercially to establish a cost-effective and geopolitically independent supply chain for rare earth permanent magnets
Jointly engage with automakers and industrial customers to present an ESG-compliant one-stop-shop solution for securing permanent magnets produced outside Asia
Align product specifications and cost models, ensuring compatibility between Aclara's rare earth oxides, alloy and magnet, and VAC's magnetic manufacturing requirements
Advancing Vertical Integration
Aclara's partnership with VAC builds upon its broader strategy to vertically integrate the rare earth value chain. The Company's developments now span from:
Two ionic clay deposits rich in heavy rare earths (HREEs) in Brazil and Chile
A U.S.-based separation plant to be located in Louisiana, which will become the first dedicated heavy rare earth separation facility in the United States with secured access to HREEs from ionic clay deposits
A metals and alloys joint venture with CAP S.A. to produce high-performance rare earth alloys, key feedstock for VAC's permanent magnet production lines
Aclara and VAC stand as cornerstone players in building a resilient Western supply chain for heavy rare earths and permanent magnets, advancing the global energy transition while supporting supplier diversification and compliance requirements in North America and Europe. Aclara expects its mining operations to be ready by mid-2028, with construction of its Louisiana separation facility scheduled for completion by the fourth quarter of 2027.
About Aclara
Aclara Resources Inc. (TSX:ARA), a Toronto Stock Exchange listed company, is focused on building a vertically integrated supply chain for rare earths alloys used in permanent magnets. This strategy is supported by Aclara's development of rare earth mineral resources hosted in ionic clay deposits, which contain high concentrations of the scarce heavy rare earths, providing the Company with a long-term, reliable source of these critical materials. The Company's rare earth mineral resource development projects include the Carina Project in the State of Goiás, Brazil as its flagship project and the Penco Module in the Biobío Region of Chile. Both projects feature Aclara's patented technology named Circular Mineral Harvesting, which offers a sustainable and energy-efficient extraction process for rare earths from ionic clay deposits. The Circular Mineral Harvesting process has been designed to minimize the water consumption and overall environmental impact through recycling and circular economy principles. Through its wholly-owned subsidiary, Aclara Technologies Inc., the Company is further enhancing its product value by developing a rare earths separation plant in the United States. This facility will process mixed rare earth carbonates sourced from Aclara's mineral resource projects, separating them into pure individual rare earth oxides. Additionally, Aclara through a joint venture with CAP, is advancing its alloy-making capabilities to convert these refined oxides into the alloys needed for fabricating permanent magnets. This joint venture leverages CAP's extensive expertise in metal refining and special ferro-alloyed steels. Beyond the Carina Project and the Penco Module, Aclara is committed to expanding its mineral resource portfolio by exploring greenfield opportunities and further developing projects within its existing concessions in Brazil, and Chile, aiming to increase future production of heavy rare earths.
About Vacuumschmelze (VAC)
VACUUMSCHMELZE (VAC) is a leading global producer of advanced magnetic solutions, rare earth permanent magnets, and inductive components. With extensive application know-how and 100 years of experience in material science and product development, VAC designs and manufactures mission critical solutions for a wide variety of industries, including renewable energy, e-mobility, automotive, industrial automation, medical, aerospace. VAC's unique ability to develop and manufacture from base elements through final products enables us to provide customers optimal form factors and performance, generating best in class efficient solutions in an environmentally conscious manner. VAC is a portfolio company of Ara Partners, a global private equity and infrastructure firm that is decarbonizing the industrial economy.
More information at www.vacuumschmelze.com.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to, among other things, the Company's strategic investments and partnerships, the current and future valuation of the Company, the economic effect of the Preliminary Agreement, the expected development and production of the Company's ionic clay deposits in Chile and Brazil and its rare earths separation project in the United States, aa well as the Company's expectations as to the partnership and the transactions contemplated thereby. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to risks related to operating in a foreign jurisdiction, including political and economic problems in Brazil, Chile and the United States; risks related to changes to mining laws and regulations and the termination or non-renewal of mining rights by governmental authorities; risks related to failure to comply with the law or obtain necessary permits and licenses or renew them; compliance with environmental regulations can be costly; actual production, capital and operating costs may be different than those anticipated; the Company may be not able to successfully complete the development, construction and start-up of mines and new development projects; risks related to mining operations; and dependence on the Carina Project. Aclara cautions that the foregoing list of factors is not exhaustive. For a detailed discussion of the foregoing factors, among others, please refer to the risk factors discussed under "Risk Factors" in the Company's annual information form dated as of March 22, 2024 filed on the Company's SEDAR+ profile. Actual results, timing, performance, achievements or future events or developments could differ materially from those expressed or implied herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Ramon Barúa
Chief Executive Officer
[email protected]
SOURCE: Aclara Resources Inc.
2025-11-07 12:271mo ago
2025-11-07 07:001mo ago
Sherpa Completes Purchase of Remaining Ownership of the Bakar Property on Northern Vancouver Island, British Columbia
November 07, 2025 7:00 AM EST | Source: Sherpa II Holdings Corp.
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2025) - Sherpa II Holdings Corp. (TSXV: SHRP) (the "Company" or "Sherpa II") is pleased to announce that, further to the definitive purchase agreement (the "Agreement") dated June 3, 2025 and initially announced on June 4, 2025, it has completed the purchase of the remaining ownership of the high grade copper-silver Bakar Property ("Bakar" or the "Property") located on Northern Vancouver Island in British Columbia from District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FSE: DFPP) ("District").
Thomas O'Neill, CEO of Sherpa II, commented: "With the purchase of the remaining ownership of Bakar completed, the exploration permit in hand, and the recently completed non-brokered private placement, Sherpa II is well positioned to begin the inaugural drill program at the Bakar Property and test the EC drill targets."
Transaction Highlights
Pursuant to the Agreement, Sherpa II acquired District's remaining approximate 25% interest in the Bakar Property through the issuance of 1.5 million common shares of Sherpa II. The common shares were issued to District on November 6, 2025 and are subject to a hold period of four months and one day.
About the Company
Sherpa II Holdings Corp. is a Canadian junior mineral exploration company with a 100% interest in the Bakar Property located on northern Vancouver Island, British Columbia.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements with respect to the Company's intended drill program at the Bakar Property. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273573
2025-11-07 12:271mo ago
2025-11-07 07:001mo ago
Uranium Energy Corp Applauds U.S. Government's Designation of Uranium as a Critical Mineral
Addition of uranium to the U.S. Geological Survey Critical Minerals List marks a major step toward revitalizing U.S. uranium mining and rebuilding America's nuclear fuel supply chain
, /PRNewswire/ - Uranium Energy Corp (NYSE American: UEC), the "Company" or "UEC") applauds the U.S. Government decision to add uranium in the U.S. Geological Survey's ("USGS") Final 2025 Critical Minerals List, as published in the Federal Register, recognizing its essential role in America's energy and national security.
Amir Adnani, President and CEO, stated:
"We applaud the U.S. Government, particularly Interior Secretary Doug Burgum and the U.S. Geological Survey, for taking this important step toward fulfilling President Trump's vision of restoring America's leadership in critical minerals and achieving true U.S. Energy Dominance. UEC is heeding that call with ramp-up and development activities at our three licensed hub-and-spoke production platforms in Texas and Wyoming. In parallel, we're advancing the United States Uranium Refining & Conversion Corp. to help restore and expand America's domestic nuclear fuel conversion capabilities."
The Energy Act of 2020 allows the Secretary of the Interior to designate a mineral as critical when another federal agency, such as the Department of Energy or another relevant agency, determines it is strategic and critical to U.S. defense or national security. The Department of Energy recommended uranium's inclusion, citing its importance in energy production and defense applications, and the Department of Defense also emphasized its national security significance.
The Federal Register Notice states:
"Critical minerals are essential for national security, economic stability, and supply chain resilience because they underpin key industries, drive technological innovation, and support critical infrastructure vital for a modern American economy. The United States is heavily reliant on imports of certain mineral commodities from foreign sources, some of which are at risk of serious, sustained, and long-term supply chain disruptions. The United States' dependence on imports and the vulnerability of supply chains raise the potential for risks to national security, defense readiness, price stability, and economic prosperity and resilience. The Nation possesses vast mineral resources that can create jobs, fuel prosperity, and significantly reduce our reliance on foreign nations, and the United States is taking actions to facilitate domestic mineral production. The List of Critical Minerals guides strategies to secure the Nation's mineral supply chains."
About Uranium Energy Corp
Uranium Energy Corp is America's largest and fastest growing supplier of uranium needed to produce safe, clean, reliable nuclear energy. UEC is advancing the next generation of low-cost, environmentally friendly ISR mining uranium projects in the United States and high-grade conventional projects in Canada. The Company has three ISR hub-and-spoke platforms in South Texas and Wyoming. These production platforms are anchored by licensed Central Processing Plants that will be served by a pipeline of satellite ISR projects, including seven that already have their major permits in place. In August 2024, operations were restarted and ramp-up commenced at the Christensen Ranch Project in Wyoming, sending uranium loaded resin to the Irigaray Plant (Wyoming Powder River Basin hub). Additionally, the Company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only uranium royalty company in the sector; and (3) a Western Hemisphere pipeline of resource stage uranium projects. The Company's UR&C initiative aims at positioning UEC as the only vertically integrated U.S. uranium company with mining and processing operations and planned refining and conversion capabilities. The Company's operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements and include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, future mineral resource estimates may vary from historic estimates, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays or failures in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage and other factors described in the Company's filings with the Securities and Exchange Commission. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Many of these factors are beyond the Company's ability to control or predict. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
November 07, 2025 7:00 AM EST | Source: Prospector Metals Corp.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2025) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") today announced it has arranged a non-brokered private placement to raise gross proceeds of up to $27,658,351 through the issuance of 5,500,000 flow-through common shares (the “FT Shares”) at a price of $1.00 per FT Share and 22,843,661 non-flow-through common shares (the “NFT Shares”) at a price of $0.97 per NFT Share(the “Offering”).
In connection with the offering of the NFT Shares, Alpayana S.A.C. ("Alpayana") has agreed to subscribe for an aggregate of 14,631,283 NFT shares. Upon completion of the Offering, Alpayana will have aggregate beneficial ownership and control over approximately 9.9% of the issued and outstanding common shares of the Company.
In addition; 1) the Company’s largest shareholder, B2Gold Corp. has agreed to exercise an aggregate of 2,133,636 outstanding warrants and subscribe for an additional 7,181,451 NFT shares, in addition to its previously announced subscription for 10,309,278 common shares, bringing its strategic investment in the Company on closing of the Offering to 29,410,357 common shares representing 19.9 % of the issued and outstanding shares of the Company; and 2) an investment group led by John Robins of Discovery Capital have agreed to subscribe for 6,500,000 total shares.
Rob Carpenter, CEO and Director of Prospector, said: "Prospector welcomes the support of Alpayana, along with the Gubbins family, with this timely investment to accelerate advancing our ML project. The Company is also appreciative of the increased investment from B2Gold, who believe in the strong exploration potential of the ML project."
John Robins, Advisor and Principal of Discovery Capital Ltd, said: "It's a pleasure to be working closely again with Dr Rob Carpenter. Our last venture led to the discovery of over 5 million ounces of gold at the Coffee project south of Dawson city YT. Under Rob's leadership Prospector is poised to be the Yukon's next big gold discovery."
The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada). An amount equal to the gross proceeds from the issuance of the flow-through shares will be used to incur eligible resource exploration expenses which will qualify as: (i) Canadian exploration expenses (as defined in the tax act); and (ii) as flow-through critical mineral mining expenditures (as defined in Subsection 127(9) of the tax act). Qualifying expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares will be incurred (or deemed to be incurred) by the company on or before Dec. 31, 2026, and will be renounced by the company to the initial purchasers of the flow-through shares with an effective date no later than Dec. 31, 2025.
Prospector intends to use the proceeds of the FT Shares to finance its exploration program at its ML project in Yukon, which includes up to 5,000 metres of diamond drilling focused on five target areas, as reported in the company's news release dated April 9, 2025, and the proceeds of the NFT Shares for additional funding of its exploration program at the ML project and for general working capital purposes.
There are no finder's fees or commissions payable in connection with the Offering. The offering is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional approval of the TSX Venture Exchange.
The securities issued under the offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Prospector Metals Corp.
Prospector Metals Corp. is a proud member of Discovery Group. The Company is focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Yukon and Ontario, Canada – Historical mining jurisdictions with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders and seeks to develop partnerships and agreements that are mutually beneficial to all interested parties.
On behalf of the Board of Directors,
Prospector Metals Corp.
Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO
For further information about Prospector Metals Corp. or this news release, please visit our website at prospectormetalscorp.com or contact Prospector at 1-778-819-5520 or by email at [email protected].
Prospector Metals Corp. is a proud member of Discovery Group. For more information, please visit: discoverygroup.ca.
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company's exploration plans, risks and uncertainties related to the COVID-19 pandemic and the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273564
2025-11-07 12:271mo ago
2025-11-07 07:001mo ago
C21 Investments to Report Second Quarter Financial Results on November 11, 2025
November 07, 2025 7:00 AM EST | Source: C21 Investments Inc.
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2025) - C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) ("C21" or the "Company"), a vertically integrated cannabis company, today announced it will release its financial results for the second quarter ended September 30, 2025, on Tuesday, November 11, 2025, before market open.
For further inquiries, please contact:
About C21 Investments Inc.
C21 Investments Inc. is a vertically integrated cannabis company that cultivates, processes, and distributes quality cannabis consumer products in the United States. The Company is focused on value creation through the disciplined acquisition and integration of core retail, manufacturing, and distribution assets in strategic markets, leveraging industry-leading retail revenues with high-growth potential branded consumer packaged goods. The Company owns Silver State Relief and Silver State Cultivation in Nevada, including legacy Oregon brands Phantom Farms, Hood Oil and Eco Firma Farms. These brands produce and distribute a broad range of THC and CBD products from cannabis flowers, pre-rolls, cannabis oil, vaporizer cartridges and edibles. Based in Vancouver, Canada, additional information on C21 can be found at www.sedarplus.com and www.cxxi.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273565
Third quarter 2025 net income of $313.4 million, or basic income per common share of $3.61
Third quarter 2025 Adjusted EBITDA with Tax Attributes of $92.5 million
Company-wide cost reduction initiatives driving $61 million of year-over-year operating cost savings through the first nine months of 2025
Montana Renewables remains on track to achieve 120–150 million gallons of annualized SAF production by second quarter of 2026
SAF placement ahead of plan, with approximately 100 million gallons of SAF fully committed or deep in contracting
Record production and strong margins in Specialty Products & Solutions segment
, /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company," "Calumet," "we," "our" or "us") today reported its results for the third quarter ended September 30, 2025, as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
(Dollars in millions, except per share data)
Net income (loss)
$
313.4
$
(100.6)
$
3.5
$
(181.3)
Basic earnings (loss) per common share
$
3.61
$
(1.18)
$
0.04
$
(2.21)
Adjusted EBITDA
$
69.6
$
59.8
$
162.8
$
162.7
Adjusted EBITDA with Tax Attributes
$
92.5
$
59.8
$
224.0
$
162.7
Specialty Products and Solutions
Performance Brands
Montana/Renewables
Three Months Ended September 30,
Three Months Ended September 30,
Three Months Ended September 30,
2025
2024
2025
2024
2025
2024
(Dollars in millions, except per barrel data)
Gross profit (loss)
$
276.3
$
2.3
$
18.5
$
22.7
$
78.9
$
(20.1)
Adjusted gross profit (loss)
$
89.5
$
54.6
$
20.9
$
24.3
$
(5.3)
$
21.9
Adjusted EBITDA
$
80.2
$
50.7
$
13.2
$
13.6
$
(5.8)
$
14.6
Adjusted EBITDA with Tax Attributes
$
80.2
$
50.7
$
13.2
$
13.6
$
17.1
$
14.6
Gross profit (loss) per barrel
$
46.11
$
0.39
$
124.16
$
145.51
$
34.50
$
(8.48)
Adjusted gross profit (loss) per barrel
$
14.94
$
9.15
$
140.27
$
155.77
$
(2.32)
$
9.24
Specialty Products and Solutions
Performance Brands
Montana/Renewables
Nine Months Ended September 30,
Nine Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
2025
2024
(Dollars in millions, except per barrel data)
Gross profit (loss)
$
227.4
$
126.7
$
62.8
$
70.1
$
(41.5)
$
(49.6)
Adjusted gross profit (loss)
$
230.0
$
184.3
$
67.4
$
72.9
$
(15.5)
$
36.9
Adjusted EBITDA
$
203.3
$
170.6
$
42.5
$
41.1
$
(24.5)
$
9.9
Adjusted EBITDA with Tax Attributes
$
203.3
$
170.6
$
42.5
$
41.1
$
36.7
$
9.9
Gross profit (loss) per barrel
$
13.51
$
7.37
$
135.93
$
146.65
$
(6.01)
$
(7.48)
Adjusted gross profit (loss) per barrel
$
13.66
$
10.71
$
145.89
$
152.51
$
(2.24)
$
5.57
"Calumet posted strong financial results and continued to achieve key strategic milestones during the third quarter," said Todd Borgmann, CEO. "Our financial success again demonstrated the strength of Calumet's integrated specialties business, and our continued cost discipline and operational progress has driven a $61 million year-to-date reduction in operating costs versus last year."
"Strategically, the transformation of Montana Renewables is poised to accelerate in the coming year as we plan to bring our MaxSAF™ 150 expansion online in the second quarter of 2026, which will allow us to dramatically increase our SAF production versus today. With approximately 100 million gallons of SAF fully contracted or in final review, our SAF marketing program is progressing ahead of schedule, and we expect to complete the contracting at strong premiums well before the expansion."
Specialty Products and Solutions (SPS): The SPS segment reported Adjusted EBITDA of $80.2 million during the third quarter of 2025 compared to Adjusted EBITDA of $50.7 million for the same quarter a year ago. Segment results reflected strong specialty product sales, fixed cost reduction and year-over-year gains in fuels reflecting record production and strong margins.
Performance Brands (PB): The PB segment reported Adjusted EBITDA of $13.2 million during the third quarter of 2025 versus Adjusted EBITDA of $13.6 million in the third quarter of 2024. Third quarter 2025 results reflected strong margin performance across the segment, particularly in our TruFuel® brand. The third quarter 2024 results also include Adjusted EBITDA from the Royal Purple® Industrial business, which was divested in March 2025.
Montana/Renewables (MR): The MR segment reported $17.1 million of Adjusted EBITDA with Tax Attributes during the third quarter of 2025 compared to Adjusted EBITDA with Tax Attributes of $14.6 million in the prior year period. The MR segment continued to benefit from significant operating cost reductions compared to the prior year period and strong fuels and asphalt results, partially offset by low industry renewable diesel margins and a SAF expansion test run at Montana Renewables resulting in reduced volumes.
Corporate: Total corporate costs represent $(18.0) million of Adjusted EBITDA for the third quarter 2025. This compares to $(19.1) million of Adjusted EBITDA in the third quarter 2024.
Restatement of Financial Results: Calumet also announced today our decision to restate the unaudited interim consolidated financial statements for the periods ended March 31, 2025 and June 30, 2025 as a result of the misclassification of certain amounts in the statement of cash flows between cash flows from operating activities and cash flows from financing activities. Ultimately, the correction of this error is expected to result in an upward adjustment of approximately $80 million to operating cash flows and a corresponding reduction of the same amount in financing cash flows. This error had no impact on revenue, net income (loss), cash and cash equivalents, or Adjusted EBITDA. Additional details regarding the restatement have been provided in our related Current Report on Form 8-K that was filed today with the Securities and Exchange Commission ("SEC").
Operations Summary
The following table sets forth information about the Company's continuing operations after giving effect to the elimination of all intercompany activity. Facility production volume differs from sales volume due to changes in inventories and the sale of purchased blendstocks such as ethanol and specialty blendstocks, as well as the resale of crude oil.
Total sales volume includes sales from the production at our facilities and certain third-party facilities pursuant to supply and/or processing agreements, sales of inventories and the resale of crude oil to third-party customers. Total sales volume includes the sale of purchased blendstocks.
Webcast Information
A conference call is scheduled for 9:00 a.m. ET on November 7, 2025, to discuss the financial and operational results for the second quarter of 2025. Investors, analysts and members of the media interested in listening to the live presentation are encouraged to join a webcast of the call with accompanying presentation slides, available on Calumet's website at www.calumet.investorroom.com/events. Interested parties may also participate in the call by dialing 844-695-5524 (US) or 1-412-317-0700 (International). A replay of the conference call will be available a few hours after the event on the investor relations section of Calumet's website, under the events and presentations section and will remain available for at least 90 days.
About Calumet
Calumet, Inc. (NASDAQ: CLMT) manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. Calumet is headquartered in Indianapolis, Indiana and operates twelve facilities throughout North America.
Certain statements and information in this press release may constitute "forward-looking statements." The words "will," "may," "intend," "believe," "expect," "outlook," "forecast," "anticipate," "estimate," "continue," "plan," "should," "could," "would," or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. The statements discussed in this press release that are not purely historical data are forward-looking statements, including, but not limited to, the statements regarding (i) demand for finished products in markets we serve, (ii) our expectation regarding our business outlook and cash flows, including with respect to the Montana Renewables business and our plans to de-leverage our balance sheet, (iii) our ability to monetize PTCs and the price we expect to receive for PTCs, (iv) our expectation regarding anticipated capital expenditures and strategic initiatives and (v) our ability to meet our financial commitments, debt service obligations, debt instrument covenants, contingencies and anticipated capital expenditures. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All comments concerning our current expectations for future sales and operating results are based on our forecasts for our existing operations and do not include the potential impact of any future acquisition or disposition transactions. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause our actual results to differ materially from our historical experience and our present expectations or projections. Known material factors that could cause our actual results to differ materially from those in the forward-looking statements include: the overall demand for specialty products, fuels, renewable fuels and other refined products; the level of foreign and domestic production of crude oil and refined products; our ability to produce specialty products, fuel products, and renewable fuel products that meet our customers' unique and precise specifications; the marketing of alternative and competing products; the impact of fluctuations and rapid increases or decreases in crude oil and crack spread prices, including the resulting impact on our liquidity; the results of our hedging and other risk management activities; our ability to comply with financial covenants contained in our debt instruments; the availability of, and our ability to consummate, acquisition or combination opportunities and the impact of any completed acquisitions; labor relations; our access to capital to fund expansions, acquisitions and our working capital needs and our ability to obtain debt or equity financing on satisfactory terms; successful integration and future performance of acquired assets, businesses or third-party product supply and processing relationships; our ability to timely and effectively integrate the operations of acquired businesses or assets, particularly those in new geographic areas or in new lines of business; environmental liabilities or events that are not covered by an indemnity, insurance or existing reserves; maintenance of our credit ratings and ability to receive open credit lines from our suppliers; demand for various grades of crude oil and resulting changes in pricing conditions; fluctuations in refinery capacity; our ability to access sufficient crude oil supply through long-term or month-to-month evergreen contracts and on the spot market; the effects of competition; continued creditworthiness of, and performance by, counterparties; the impact of current and future laws, rulings and governmental regulations, including guidance related to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the costs of complying with the Renewable Fuel Standard, including the prices paid for renewable identification numbers ("RINs"); our ability to sell, and the prices received for, PTCs; shortages or cost increases of power supplies, natural gas, materials or labor; hurricane or other weather interference with business operations; our ability to access the debt and equity markets; accidents or other unscheduled shutdowns; and general economic, market, business or political conditions, including inflationary pressures, instability in financial institutions, general economic slowdown or a recession, political tensions, conflicts and war (such as the ongoing conflicts in Ukraine and the Middle East and their regional and global ramifications).
For additional information regarding factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including the risk factors and other cautionary statements in our latest Annual Report on Form 10-K and our other filings with the SEC.
We caution that these statements are not guarantees of future performance and you should not rely unduly on them, as they involve risks, uncertainties, and assumptions that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. While our management considers these assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. Certain public statements made by us and our representatives on the date hereof may also contain forward-looking statements, which are qualified in their entirety by the cautionary statements contained above.
Non-GAAP Financial Measures
Our management uses certain non-GAAP performance measures to analyze operating segment performance and non-GAAP financial measures to evaluate past performance and prospects for the future to supplement our financial information presented in accordance with generally accepted accounting principles ("GAAP"). These financial and operational non-GAAP measures are important factors in assessing our operating results and profitability and include performance measures along with certain key operating metrics.
We use the following financial performance measures:
EBITDA: We define EBITDA for any period as net income (loss) plus interest expense (including amortization of debt issuance costs), income taxes and depreciation and amortization. We believe net income (loss) is the most directly comparable GAAP measure to EBITDA.
Adjusted EBITDA: We define Adjusted EBITDA for any period as: EBITDA adjusted for (a) impairment; (b) unrealized gains and losses from mark to market accounting for hedging activities; (c) realized gains and losses under derivative instruments excluded from the determination of net income (loss); (d) non-cash equity-based compensation expense and other non-cash items (excluding items such as accruals of cash expenses in a future period or amortization of a prepaid cash expense) that were deducted in computing net income (loss); (e) debt refinancing fees, extinguishment costs, premiums and penalties; (f) any net gain or loss realized in connection with an asset sale that was deducted in computing net income (loss); (g) amortization of turnaround costs; (h) LCM inventory adjustments; (i) the impact of liquidation of inventory layers calculated using the LIFO method; (j) RINs mark-to-market adjustments; (k) RINs incurrence expense; and (l) all extraordinary, unusual or non-recurring items of gain or loss, or revenue or expense.
We define Adjusted EBITDA with Tax Attributes for any period as Adjusted EBITDA plus the notional value of Production Tax Credits, less the difference between the notional value of any Production Tax Credits sold and the amount realized from such sales.
Specialty Products and Solutions segment Adjusted EBITDA Margin: We define Specialty Products and Solutions segment Adjusted EBITDA Margin for any period as Specialty Products and Solutions segment Adjusted EBITDA divided by Specialty Products and Solutions segment sales.
Specialty Products and Solutions segment Adjusted gross profit (loss): We define Specialty Products and Solutions segment Adjusted gross profit (loss) for any period as Specialty Products and Solutions segment gross profit (loss) excluding the impact of (a) LCM inventory adjustments; (b) the impact of liquidation of inventory layers calculated using the LIFO method; (c) RINs mark-to-market adjustments; (d) depreciation and amortization; (e) RINs incurrence expense; and (f) all extraordinary, unusual or non-recurring items of revenue or cost of sales.
Performance Brands segment Adjusted gross profit (loss): We define Performance Brands segment Adjusted gross profit (loss) for any period as Performance Brands segment gross profit (loss) excluding the impact of (a) LCM inventory adjustments; (b) the impact of liquidation of inventory layers calculated using the LIFO method; (c) RINs mark-to-market adjustments; (d) depreciation and amortization; (e) RINs incurrence expense; and (f) all extraordinary, unusual or non-recurring items of revenue or cost of sales.
Montana/Renewables segment Adjusted gross profit (loss): We define Montana/Renewables segment Adjusted gross profit (loss) for any period as Montana/Renewables segment gross profit (loss) excluding the impact of (a) LCM inventory adjustments; (b) the impact of liquidation of inventory layers calculated using the LIFO method; (c) RINs mark-to-market adjustments; (d) depreciation and amortization; (e) RINs incurrence expense; and (f) all extraordinary, unusual or non-recurring items of revenue or cost of sales.
The definition of Adjusted EBITDA that is presented in this press release is similar to the calculation of (i) "Consolidated Cash Flow" contained in the indentures governing our 11.0% Senior Notes due 2026 (the "2026 Notes"), our 8.125% Senior Notes due 2027 (the "2027 Notes"), each series of our 9.75% Senior Notes due 2028 (the "2028 Notes"), and our 9.25% Senior Secured First Lien Notes due 2029 (the "2029 Secured Notes") and (ii) "Consolidated EBITDA" contained in the credit agreement governing our revolving credit facility. We are required to report Consolidated Cash Flow to the holders of our 2026 Notes, 2027 Notes, 2028 Notes, and 2029 Secured Notes and Consolidated EBITDA to the lenders under our revolving credit facility, and these measures are used by them to determine our compliance with certain covenants governing those debt instruments. Please see our filings with the SEC, including our most recent Annual Report on Form 10-K and Current Reports on Form 8-K, for additional details regarding the covenants governing our debt instruments.
These non-GAAP measures are used as supplemental financial measures by our management and by external users of our financial statements such as investors, commercial banks, research analysts and others, to assess:
the financial performance of our assets without regard to financing methods, capital structure or historical cost basis;
the ability of our assets to generate cash sufficient to pay interest costs and support our indebtedness;
our operating performance and return on capital as compared to those of other companies in our industry, without regard to financing or capital structure;
the viability of acquisitions and capital expenditure projects and the overall rates of return on alternative investment opportunities; and
our operating performance excluding the non-cash impact of LCM and LIFO inventory adjustments, RINs mark-to-market adjustments, RINs incurrence expense, and depreciation and amortization.
We believe that these non-GAAP measures are useful to analysts and investors, as they exclude transactions not related to our core cash operating activities and provide metrics to analyze our ability to fund our capital requirements and to pay interest on our debt obligations. We believe that excluding these transactions allows investors to meaningfully analyze trends and performance of our core cash operations.
EBITDA, Adjusted EBITDA, Adjusted EBITDA with Tax Attributes, and segment Adjusted gross profit (loss) should not be considered alternatives to Net income (loss), Operating income (loss), Net cash provided by (used in) operating activities, gross profit (loss) or any other measure of financial performance presented in accordance with GAAP. In evaluating our performance as measured by EBITDA, Adjusted EBITDA, Adjusted EBITDA with Tax Attributes, and segment Adjusted gross profit (loss) management recognizes and considers the limitations of these measurements. EBITDA, Adjusted EBITDA, and Adjusted EBITDA with Tax Attributes do not reflect our liabilities for the payment of income taxes, interest expense or other obligations such as capital expenditures. Accordingly, EBITDA, Adjusted EBITDA, Adjusted EBITDA with Tax Attributes, and segment Adjusted gross profit (loss) are only a few of several measurements that management utilizes. Moreover, our EBITDA, Adjusted EBITDA, Adjusted EBITDA with Tax Attributes, and segment Adjusted gross profit (loss) may not be comparable to similarly titled measures of another company because all companies may not calculate EBITDA, Adjusted EBITDA, Adjusted EBITDA with Tax Attributes, and segment Adjusted gross profit (loss) in the same manner. Please see the section of this release entitled "Non-GAAP Reconciliations" for tables that present reconciliations of EBITDA, Adjusted EBITDA, and Adjusted EBITDA with Tax Attributes to Net income (loss), our most directly comparable GAAP financial performance measure; and segment Adjusted gross profit (loss) to segment gross profit (loss), our most directly comparable GAAP financial performance measure.
CALUMET, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except share and per share data)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
Sales
$
1,078.0
$
1,100.4
$
3,098.5
$
3,239.9
Cost of sales
704.3
1,095.5
2,849.8
3,092.7
Gross profit
373.7
4.9
248.7
147.2
Operating costs and expenses:
Selling
10.9
14.9
35.4
43.7
General and administrative
31.4
40.2
84.6
101.0
(Gain) loss on sale of business
6.4
—
(55.8)
—
Other operating expense
2.1
6.9
11.3
17.1
Operating income (loss)
322.9
(57.1)
173.2
(14.6)
Other income (expense):
Interest expense
(53.6)
(57.7)
(165.0)
(175.3)
Debt extinguishment costs
0.5
—
(47.2)
(0.3)
Gain (loss) on derivative instruments
(1.5)
15.2
(4.4)
9.6
Other income (expense)
3.7
(0.3)
6.1
0.7
Total other expense
(50.9)
(42.8)
(210.5)
(165.3)
Net income (loss) before income taxes
272.0
(99.9)
(37.3)
(179.9)
Income tax (benefit) expense
(41.4)
0.7
(40.8)
1.4
Net income (loss)
$
313.4
$
(100.6)
$
3.5
$
(181.3)
Earnings per share:
Basic and diluted
$
3.61
$
(1.18)
$
0.04
$
(2.21)
Weighted average number of common shares:
Basic and diluted
86,901,141
85,530,080
86,710,696
82,158,405
CALUMET, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except share data)
September 30, 2025
December 31, 2024
ASSETS
(Unaudited)
Current assets:
Cash and cash equivalents
$
94.6
$
38.1
Restricted cash
80.0
7.8
Accounts receivable, net:
Trade, less allowance for credit losses of $1.2 million and $1.1 million, respectively
263.9
241.7
Other
14.8
36.4
278.7
278.1
Inventories
400.1
416.3
Prepaid expenses and other current assets
26.7
25.7
Total current assets
880.1
766.0
Property, plant and equipment, net
1,362.0
1,438.8
Other noncurrent assets, net
491.8
553.4
Total assets
$
2,733.9
$
2,758.2
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
298.7
$
320.8
Accrued interest payable
28.9
45.4
Accrued salaries, wages and benefits
66.1
94.7
Obligations under inventory financing agreements
—
32.0
Current portion of RINs obligation
133.0
245.4
Other current liabilities
94.4
89.8
Current portion of long-term debt
155.2
35.5
Total current liabilities
776.3
863.6
Other long-term liabilities
259.9
296.2
Long-term debt, less current portion
2,147.4
2,064.7
Total liabilities
$
3,183.6
$
3,224.5
Commitments and contingencies
Redeemable noncontrolling interest
$
245.6
$
245.6
Stockholders' equity:
Common stock: par value $0.01 per share, 700,000,000 shares authorized, and
86,752,229 and 85,950,493 shares issued and outstanding as of September 30,
2025 and December 31, 2024, respectively.
$
0.9
$
0.9
Additional paid-in capital
838.4
825.4
Warrants: 2,000,000 warrants issued and outstanding as of September 30, 2025
and December 31, 2024.
7.8
7.8
Accumulated deficit
(1,535.5)
(1,539.0)
Accumulated other comprehensive loss
(6.9)
(7.0)
Total stockholders' equity
(695.3)
(711.9)
Total liabilities and stockholders' equity
$
2,733.9
$
2,758.2
CALUMET, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Nine Months Ended September 30,
2025
2024
Operating activities
Net income (loss)
$
3.5
$
(181.3)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Non-cash RINs gain
(112.4)
(1.6)
Unrealized (gain) loss on derivative instruments
(9.1)
0.8
Other non-cash activities
164.5
148.7
Changes in assets and liabilities
(54.1)
(9.6)
Net cash used in operating activities
$
(7.6)
$
(43.0)
Investing activities
Additions to property, plant and equipment
(39.6)
(51.7)
Proceeds from sale of business
95.4
—
Net cash provided by (used in) investing activities
$
55.8
$
(51.7)
Financing activities
Proceeds from borrowings — revolving credit facility
1,896.4
1,605.6
Repayments of borrowings — revolving credit facility
(2,015.4)
(1,516.4)
Proceeds from borrowings — MRL revolving credit agreement
26.6
32.0
Repayments of borrowings — MRL revolving credit agreement
(26.7)
(45.0)
Proceeds from borrowings — senior notes
100.0
200.0
Repayments of borrowings — senior notes
(230.0)
(229.0)
Proceeds from inventory financing
264.9
550.0
Payments on inventory financing
(306.4)
(580.0)
Proceeds from DOE Loan
781.8
—
Proceeds from other financing obligations
160.0
144.7
Repayments of borrowings - MRL Asset Financing Arrangements
(396.1)
—
Repayments of borrowings - MRL Term Loan Credit Agreement
(86.0)
—
Payments on other financing obligations
(88.6)
(39.6)
Net cash provided by financing activities
$
80.5
$
122.3
Net increase in cash, cash equivalents and restricted cash
$
128.7
$
27.6
Cash, cash equivalents and restricted cash at beginning of period
$
45.9
$
14.7
Cash, cash equivalents and restricted cash at end of period
$
174.6
$
42.3
Cash and cash equivalents
$
94.6
$
34.6
Restricted cash
$
80.0
$
7.7
Supplemental disclosure of cash flow information
Interest paid, net of capitalized interest
$
150.9
$
175.3
Supplemental disclosure of non-cash investing activities
Non-cash property, plant and equipment additions
$
28.8
$
29.2
CALUMET, INC.
NON-GAAP RECONCILIATIONS
RECONCILIATION OF NET INCOME (LOSS)
TO EBITDA, ADJUSTED EBITDA, AND ADJUSTED EBITDA WITH TAX ATTRIBUTES
(In millions)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
(Unaudited)
Reconciliation of Net income (loss) to EBITDA,
Adjusted EBITDA, and Adjusted EBITDA with Tax
Attributes:
For the nine months ended September 30, 2024, other non-recurring expenses included a $56.2 million realized loss on derivatives related to the embedded derivatives for our inventory financing arrangements.
(2)
Tax attribute amounts reflect 100% of the notional value of Production Tax Credits generated for each respective period presented less any discounts on the sale of PTCs. The PTCs can be realized by applying the credits to the Company's tax expense or sold in a secondary market at a discounted rate.
CALUMET, INC.
NON-GAAP RECONCILIATIONS
RECONCILIATION OF MONTANA/RENEWABLES SEGMENT NET INCOME (LOSS)
TO SEGMENT ADJUSTED EBITDA AND SEGMENT ADJUSTED EBITDA WITH TAX ATTRIBUTES
(In millions)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
(In Millions)
(Unaudited)
Reconciliation of Montana/Renewables Segment Net income (loss)
to Segment Adjusted EBITDA and Segment Adjusted EBITDA with
Tax Attributes:
Montana/Renewables Segment Net income (loss)
$
103.7
$
(49.9)
$
(120.6)
$
(127.5)
Add:
Depreciation and amortization
$
27.9
$
25.5
$
84.0
$
76.3
LCM / LIFO (gain) loss
2.0
4.4
(5.0)
6.8
Interest expense
15.4
15.7
48.8
48.7
Debt extinguishment costs
(0.1)
—
47.5
—
RINs incurrence (gain) expense
(110.2)
1.9
(98.8)
4.1
RINs mark-to-market (gain) loss
(4.1)
10.2
45.7
(9.2)
Other non-recurring (income) expenses
(4.3)
7.8
3.9
11.8
Equity-based compensation and other items
—
—
5.6
—
Income tax (benefit) expense
(40.1)
—
(44.1)
—
Noncontrolling interest adjustments
4.0
(1.0)
8.5
(1.1)
Montana/Renewables Segment Adjusted EBITDA
$
(5.8)
$
14.6
$
(24.5)
$
9.9
Tax attributes (1)
22.9
—
61.2
—
Montana/Renewables Segment Adjusted EBITDA with Tax Attributes
Tax attribute amounts reflect 100% of the notional value of Production Tax Credits generated for each respective period presented less any discounts on the sale of PTCs. The PTCs can be realized by applying the credits to the Company's tax expense or sold in a secondary market at a discounted rate.
CALUMET, INC.
RECONCILIATION OF SEGMENT GROSS PROFIT (LOSS)
TO SEGMENT ADJUSTED GROSS PROFIT
(In millions, except per barrel data)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
(Unaudited)
Reconciliation of Segment Gross Profit (Loss) to Segment Adjusted
Gross Profit (Loss):
Specialty Products and Solution segment gross profit
$
276.3
$
2.3
$
227.4
$
126.7
LCM/LIFO inventory loss
1.4
4.2
5.6
1.3
RINs incurrence (gain) expense
(192.9)
8.1
(158.6)
20.4
RINs mark to market (gain) loss
(16.7)
22.6
99.4
(16.9)
Depreciation and amortization
21.4
17.4
56.2
52.8
Specialty Products and Solutions segment Adjusted gross profit
Reported Specialty Products and Solutions segment gross profit per barrel
$
46.11
$
0.39
$
13.51
$
7.37
LCM/LIFO inventory loss per barrel
0.23
0.70
0.33
0.08
RINs incurrence (gain) expense per barrel
(32.19)
1.35
(9.42)
1.18
RINs mark to market (gain) loss per barrel
(2.79)
3.79
5.90
(0.98)
Depreciation and amortization per barrel
3.58
2.92
3.34
3.06
Specialty Products and Solutions segment Adjusted gross profit per barrel
$
14.94
$
9.15
$
13.66
$
10.71
Reported Performance Brands segment gross profit per barrel
$
124.16
$
145.51
$
135.93
$
146.65
LCM/LIFO inventory loss per barrel
11.41
5.77
5.41
1.67
Depreciation and amortization per barrel
4.70
4.49
4.55
4.19
Performance Brands segment Adjusted gross profit per barrel
$
140.27
$
155.77
$
145.89
$
152.51
Reported Montana/Renewables segment gross profit (loss) per barrel
$
34.50
$
(8.48)
$
(6.01)
$
(7.48)
LCM/LIFO inventory (gain) loss per barrel
0.87
1.86
(0.72)
1.03
Loss on firm purchase commitments per barrel
—
—
—
1.28
RINs incurrence (gain) expense per barrel
(48.19)
0.79
(14.31)
0.62
RINs mark to market (gain) loss per barrel
(1.79)
4.30
6.62
(1.39)
Depreciation and amortization per barrel
12.29
10.77
12.18
11.51
Montana/Renewables segment Adjusted gross profit (loss) per barrel
$
(2.32)
$
9.24
$
(2.24)
$
5.57
Specialty Products and Solutions Adjusted EBITDA
$
80.2
$
50.7
$
203.3
$
170.6
Specialty Products and Solutions sales
679.1
714.0
1,957.1
2,141.8
Specialty Products and Solutions Adjusted EBITDA margin
11.8
%
7.1
%
10.4
%
8.0
%
SOURCE Calumet, Inc.
2025-11-07 12:271mo ago
2025-11-07 07:011mo ago
Kezar Life Sciences Announces Presentation of PORTOLA Data at the American Association for the Study of Liver Disease (AASLD) – The Liver Meeting® 2025
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Kezar Life Sciences, Inc. (Nasdaq: KZR), a clinical-stage biotechnology company developing novel small molecule therapeutics to treat unmet needs in immune-mediated diseases, today announced two presentations from the completed Phase 2a PORTOLA clinical trial in patients with autoimmune hepatitis (AIH) at The Liver Meeting 2025 held by the American Association for the Study of Liver Disease (AASLD) and taking place November 7-11, in Washington, DC.
2025-11-07 12:271mo ago
2025-11-07 07:011mo ago
ITV deal could 'create material value' but regulators might object, say analysts
Confirmation from ITV PLC (LSE:ITV) on Friday morning that it is in talks with Sky about the possible sale of its broadcast arm sent the shares surging and reignited speculation about a long-awaited break-up of the group.
Analysts said offloading the slower-growth Media & Entertainment division, as is being discussed, could create substantial value for shareholders, but warned of likely regulatory hurdles.
Comcast, Sky’s US parent, had earlier been reported to be in discussions to buy the unit from the FTSE 250 group for about $2 billion (£1.6 billion), an amount that was confirmed.
UBS analyst Adam Berlin, who has a 'sell' rating on the stock, said such a deal “could potentially create material value for ITV shareholders”.
His valuation, based on discounted future cash flow, values the division at £1.5 billion, close to the reported figure.
The UBS analyst estimated that if ITV used all the proceeds for share buybacks, it would lift earnings per share to around 10p, versus 7.7p in his current base-case forecasts.
It would imply the shares are trading on circa 7x EPS, while the only European listed studios peer, France's Banijay, trades on 9x.
"But there are reasons to be cautious," said Berlin, noting that no formal bid has been received and that “regulatory approval” would likely be needed, given Comcast’s ownership of Sky.
Moreover, ITV is UK's largest commercial public broadcaster and, said market analyst Neil Wilson at Saxo, regulators might "raise eyebrows" or more about Sky building such dominance in the UK TV ad market.
He said consolidation in the industry “has been a long time coming” as broadcasters face “the onslaught of US streaming giants”.
Dan Coatsworth at AJ Bell said the broadcaster may finally have found a buyer for “the ball and chain” part of its business, with the slower-growth media arm, which includes free-to-air channels and streaming platform ITVX, would leave the pureplay content production business of ITV Studios.
The Studios arm, which in recent months has produced programmes including The Reluctant Traveller for Apple TV, Love Island Games for Peacock in the US, Frauds for ITV and The Guest for BBC, has continued to perform strongly, helping offset weakness in traditional advertising in the past quarter and before.
It will become "an instant takeover target" itself, said Coatsworth, suggesting Netflix Inc (NASDAQ:NFLX) would be a potential buyer to obtain a rich library of content to feed its platform.
After being a 'strategic' shareholder in ITV for a decade, Liberty Global (NASDAQ:LBTYA) seemingly out of nowhere sold half of its 10% stake last month.
The Virgin Media owner "might be kicking itself", he added, especially as ITV’s share price is now higher than the implied price at which Liberty increased its position from 5% to 10% in July 2015, having first built a stake the year before.
2025-11-07 12:271mo ago
2025-11-07 07:021mo ago
Nvidia Stock Drops. These Fresh China Fears End a Bad Week for the AI Chip Maker.
SummaryAirbnb is rated a Buy with a $140 price target, reflecting confidence in its leading position in short-term rentals.Despite a slight EPS miss, ABNB reported steady top and bottom-line growth and double-digit booking increases, supporting a bullish outlook.AI-powered platform enhancements are expected to drive future revenue growth, user engagement, and overall experience for ABNB.Risks remain, but recent innovations and high margins reinforce the positive investment thesis for ABNB over the next 12 months. Flashpop/DigitalVision via Getty Images
Following my previous article on Airbnb, Inc. (ABNB), the stock price declined by 2%. It has been trading in the range, mirroring market sentiment. However, the company reported FQ3 2025 on November
Analyst’s Disclosure:I/we have a beneficial long position in the shares of ABNB either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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Colibri Announces Closing of Second Tranche of Its Over-subscribed Non-Brokered Offering
November 07, 2025 7:05 AM EST | Source: Colibri Resource Corporation
Dieppe, New Brunswick--(Newsfile Corp. - November 7, 2025) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that, further to its news release of November 3, 2025, it has closed a second tranche ("Tranche 2") of its non-brokered private placement (the "Offering") for gross proceeds of $140,980.
In connection with closing of Tranche 2 of the Offering, Colibri has issued 939,867 units ("Units") at a price of $0.15 per Unit. Each Unit is comprised of one (1) common share (a "Common Share") and one (1) common share purchase warrant ("Warrants") of the Company. Each Warrant entitles the holder to acquire one additional Common Share of the Company at a price of C$0.25 for a period of 24 months following issuance. No finder's fees or commissions will be paid in relation to Tranche 2 of the Offering.
Combined with Tranche 1, which closed on October 31, 2025, the Company has raised gross proceeds of $1,491,702.
Net proceeds will be used to fund the exploration at Colibri's flagship Mexican gold projects, including Pilar and EP, and for general working capital.
The Common Shares and Warrants are subject to a statutory hold period expiring on the date that is four months and one day after closing. Completion of the Offering remains subject to final acceptance of the TSX Venture Exchange.
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds four high potential precious metal projects: 1) 100% of EP Gold Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surrounded by Mexico's second largest major producer of gold on four sides, 2) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, and 3) and an additional 60% interest in the highly prospective claims at Diamante Gold & Silver project. Colibri is committed to advancing its portfolio through systematic exploration programs in one of Mexico's most prolific mining states.
For more information about all Company projects please visit: www.colibriresource.com.
For further information contact: Ian McGavney, President, CEO and Director, Tel: (506) 383-4274, [email protected].
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273601
2025-11-07 12:271mo ago
2025-11-07 07:051mo ago
Fulgent Reports Third Quarter 2025 Financial Results
EL MONTE, Calif.--(BUSINESS WIRE)--Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent,” or the “Company”), a technology-based company with a well-established laboratory services business and a therapeutic development business, today announced financial results for its third quarter ended September 30, 2025.
Third Quarter 2025 Results:
Revenue of $84.1 million, growing 17% year-over-year
GAAP loss of $6.6 million, or ($0.21) per share
Non-GAAP income of $4.5 million, or $0.14 per share
Adjusted EBITDA of $0.7 million
Non-GAAP income (loss), non-GAAP income (loss) per share, adjusted EBITDA income (loss), non-GAAP gross profit and margin, and non-GAAP operating income (loss) and margin, are described below under “Note Regarding Non-GAAP Financial Measures” and are reconciled to the most directly comparable GAAP financial measure, GAAP income (loss), GAAP gross profit and margin, and GAAP operating income (loss) and margin, in the accompanying tables.
Ming Hsieh, Chairperson of the Board of Directors and Chief Executive Officer, said, “We continued to build momentum in our laboratory services business and advancing our clinical trials for the Therapeutic Development business. I am especially pleased with the progress we have made with FID-007, as the preliminary data further demonstrated meaningful efficacy for previously treated head and neck cancer patients. We also had a good start with FID-022 phase one dosing escalation, which demonstrates the broad capabilities of our nano delivery technology platform. I look forward to continued progress as we drive growth in the balance of 2025.”
Paul Kim, Chief Financial Officer, said, “We are pleased with our results, and we again raise our guidance for the year. We continue to demonstrate strong momentum as we grow our laboratory services business and execute our strategic objectives. We believe we will close 2025 in a position of strength, with a healthy balance sheet.”
Outlook:
For the full year 2025, Fulgent now expects:
Revenue of approximately $325.0 million
GAAP loss of approximately ($1.70) per share
Non-GAAP income of approximately $0.30 per share
Cash, cash equivalents, restricted cash, and investments in marketable securities of approximately $800.0 million as of December 31, 2025*
*Cash expenditures may be higher or lower than currently estimated due to a variety of factors and circumstances, including as a result of the Company’s ongoing stock repurchase program, or other expenditures outside the ordinary course of business, including M&A. This number further assumes receipt of approximately $106 million in tax refunds prior to December 31, 2025, which may be delayed as a result of the current government shutdown.
Conference Call Information
Fulgent will host a conference call for the investment community today at 8:30 AM ET (5:30 AM PT) to discuss its third quarter 2025 results. The call may be accessed through a live audio webcast in the Investor Relations section of the Company’s website, http://ir.fulgentgenetics.com. An audio replay will be available at the same location.
Note Regarding Non-GAAP Financial Measures
Certain information set forth in this press release and/or to be discussed on the Company’s earnings call, including non-GAAP income (loss), non-GAAP income (loss) per share, adjusted EBITDA income (loss), non-GAAP gross profit and margin, and non-GAAP operating income (loss) and margin, are non-GAAP financial measures. Fulgent believes this information is useful to investors because it provides a basis for measuring the performance of the Company’s business, excluding certain income or expense items that management believes are not directly attributable to the Company’s operating results. Fulgent defines non-GAAP income (loss) as net income (loss) calculated in accordance with accounting principles generally accepted in the United States of America, or GAAP, plus amortization of intangible assets, plus equity-based compensation expenses, plus impairment loss of investments, plus acquisition-related costs, plus or minus the non-GAAP tax effect, and plus or minus other charges or gains, as identified, that management believes are not representative of the Company’s operations. The non-GAAP tax effect was calculated by excluding from the GAAP provision the impact of the amortization of intangible assets, equity-based compensation expenses, impairment loss of investments, and acquisition-related costs. Fulgent defines adjusted EBITDA income (loss) as GAAP income (loss) plus or minus interest (expense) income, plus or minus provisions (benefits) for income taxes, plus equity-based compensation expenses, plus insurance expense related to transferable tax credits, plus depreciation and amortization, plus impairment loss of investments, plus acquisition-related costs, and plus or minus other charges or gains, as identified, that management believes are not representative of the Company’s operations. Fulgent defines non-GAAP gross profit as gross profit calculated in accordance with GAAP plus equity-based compensation included in cost of revenue as shown in the table below. Fulgent defines non-GAAP gross margin by taking non-GAAP gross profit and dividing it by GAAP revenue. Fulgent defines non-GAAP operating profit (loss) by taking GAAP operating profit (loss) and adding equity-based compensation, amortization of intangible assets, and acquisition-related costs. Non-GAAP operating margin is calculated by taking non-GAAP operating profit (loss) and dividing it by GAAP revenue. Fulgent may continue to incur expenses similar to the items added to or subtracted from the GAAP financial measures, and, accordingly, the exclusion of these items in the presentation of these non-GAAP financial measures should not be construed as an implication that these items are unusual, infrequent or non-recurring. Management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measure in evaluating the Company’s operating performance. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in conformity with GAAP, and non-GAAP financial measures as reported by Fulgent may not be comparable to similarly titled metrics reported by other companies. The Company does not provide reconciliations of forward-looking non-GAAP measures to GAAP measures, due to the inability to predict the amount and timing of impacts outside of the Company’s control on certain items, particularly items related to equity-based compensation, tax effects and potential impairments, among other items, which could be material. Reconciling such items would require unreasonable efforts. Because of the inherent uncertainty associated with the Company’s ability to project these future items, it is also unable to predict their probable significance.
About Fulgent
Fulgent is a technology-based company with a well-established laboratory services business and a therapeutic development business. Fulgent’s laboratory services business includes technical laboratory and testing services and professional interpretation of laboratory results by licensed physicians. Fulgent’s therapeutic development business is focused on developing drug candidates for treating a broad range of cancers using a novel nanoencapsulation and targeted therapy platform designed to improve the therapeutic window and pharmacokinetic profile of new and existing cancer drugs. The Company aims to transform from a diagnostic business into a fully integrated precision medicine company.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements in this press release include statements about, among other things: future performance; guidance, including guidance regarding expected quarterly and annual financial results, revenue, GAAP loss, non-GAAP loss, and cash, cash equivalents, restricted cash, and investments in marketable securities; evaluations and judgments regarding the stability of certain revenue sources, the Company’s cash position and sufficiency of its resources, momentum, trajectory, vision, future opportunities and future growth of the Company’s testing and laboratory services, technologies and expansion; the Company’s research and development efforts, including any implications that the results of earlier clinical trials will be representative or consistent with later clinical trials, the expected timing of enrollment and regulatory filings for these trials and the availability of data or results of these trials, including any implication that interim or preliminary data will be representative of final data; the Company’s identification and evaluation of opportunities and its ability to capitalize on opportunities, capture market share, or expand its presence in certain markets; and the Company’s ability to continue to grow its business.
Forward-looking statements are statements other than historical facts and relate to future events or circumstances or the Company’s future performance, and they are based on management’s current assumptions, expectations, and beliefs concerning future developments and their potential effect on the Company’s business. These forward-looking statements are subject to a number of risks and uncertainties, which may cause the forward-looking events and circumstances described in this press release to not occur, and actual results to differ materially and adversely from those described in or implied by the forward-looking statements. These risks and uncertainties include, among others: the market potential for, and the rate and degree of market adoption of, the Company’s tests; its ability to maintain turnaround times and otherwise keep pace with rapidly changing technology; the Company’s ability to maintain the low internal costs of its business model; the Company’s ability to maintain an acceptable margin; risks related to volatility in the Company’s results, which can fluctuate significantly from period to period; risks associated with the composition of the Company’s customer base, which can fluctuate from period to period and can be comprised of a small number of customers that account for a significant portion of the Company’s revenue; the Company’s level of success in obtaining coverage and adequate reimbursement and collectability levels from third-party payors for its tests and testing services; the Company’s level of success in establishing and obtaining the intended benefits from partnerships, strategic investments, joint ventures, acquisitions, or other relationships; the success of the Company’s development efforts, including the Company’s ability to progress its candidates through clinical trials on the timelines expected; the Company’s compliance with the various evolving and complex laws and regulations applicable to its business and its industry; and the Company’s ability to protect its proprietary technology and intellectual property. As a result of these risks and uncertainties, forward-looking statements should not be relied on or viewed as predictions of future events.
The forward-looking statements made in this press release speak only as of the date of this press release, and the Company assumes no obligation to update publicly any such forward-looking statements to reflect actual results or to changes in expectations, except as otherwise required by law.
The Company’s reports filed with the U.S. Securities and Exchange Commission, or the SEC, including its annual report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 28, 2025, and the other reports it files from time to time, including subsequently filed annual, quarterly and current reports, are made available on the Company’s website upon their filing with the SEC. These reports contain more information about the Company, its business and the risks affecting its business, as well as its results of operations for the periods covered by the financial results included in this press release.
FULGENT GENETICS, INC.
Condensed Consolidated Balance Sheet Data
September 30, 2025, and December 31, 2024
(in thousands)
September 30, 2025
December 31, 2024
ASSETS:
Cash and cash equivalents
$
117,641
$
55,144
Investments in marketable securities
669,940
773,313
Accounts receivable, net
71,187
69,021
Property, plant, and equipment, net
111,865
105,549
Other assets
243,930
216,937
Total assets
$
1,214,563
$
1,219,964
LIABILITIES & EQUITY:
Accounts payable, accrued liabilities and other liabilities
$
93,806
$
90,805
Total stockholders’ equity
1,120,757
1,129,159
Total liabilities & equity
$
1,214,563
$
1,219,964
FULGENT GENETICS, INC.
Condensed Consolidated Statement of Operations Data
Three and Nine Months Ended September 30, 2025, and 2024
(in thousands, except per share data)
(unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025
2024
2025
2024
Revenue
$
84,069
$
71,743
$
239,335
$
207,256
Cost of revenue (1)
48,557
44,972
141,042
131,890
Gross profit
35,512
26,771
98,293
75,366
Operating expenses
Research and development (1)
13,860
11,783
39,735
36,703
Selling and marketing (1)
11,642
9,124
32,393
26,708
General and administrative (1)
23,335
20,950
75,018
63,765
Amortization of intangible assets
2,025
1,993
6,005
5,973
Total operating expenses
50,862
43,850
153,151
133,149
Operating loss
(15,350
)
(17,079
)
(54,858
)
(57,783
)
Interest income
7,874
8,090
23,983
23,181
Interest expense
(28
)
(14
)
(59
)
210
Impairment loss
—
(10,073
)
(9,926
)
(10,073
)
Other (expense) income, net
(5
)
544
109
554
Total other income (expense), net
7,841
(1,453
)
14,107
13,872
Loss before income taxes
(7,509
)
(18,532
)
(40,751
)
(43,911
)
Benefit from income taxes
(683
)
(3,838
)
(2,770
)
(6,281
)
Net loss from consolidated operations
(6,826
)
(14,694
)
(37,981
)
(37,630
)
Net loss attributable to noncontrolling interests
218
46
886
810
Net loss attributable to Fulgent
$
(6,608
)
$
(14,648
)
$
(37,095
)
$
(36,820
)
Net loss per common share attributable to Fulgent:
Basic
$
(0.21
)
$
(0.48
)
$
(1.21
)
$
(1.22
)
Diluted
$
(0.21
)
$
(0.48
)
$
(1.21
)
$
(1.22
)
Weighted-average common shares:
Basic
30,749
30,416
30,708
30,095
Diluted
30,749
30,416
30,708
30,095
(1) Equity-based compensation expense was allocated as follows:
Cost of revenue
$
1,697
$
1,940
$
5,214
$
5,948
Research and development
3,247
3,583
10,060
11,563
Selling and marketing
736
931
2,337
2,983
General and administrative
4,037
4,466
12,695
13,579
Total equity-based compensation expense
$
9,717
$
10,920
$
30,306
$
34,073
FULGENT GENETICS, INC.
Non-GAAP Income (Loss) Reconciliation
Three and Nine Months Ended September 30, 2025, and 2024
(in thousands, except per share data)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025
2024
2025
2024
Net loss attributable to Fulgent
$
(6,608
)
$
(14,648
)
$
(37,095
)
$
(36,820
)
Amortization of intangible assets
2,025
1,993
6,005
5,973
Equity-based compensation expense
9,717
10,920
30,306
34,073
Impairment loss (1)
—
10,073
9,926
10,073
Acquisition-related costs
90
—
387
—
Non-GAAP tax effect
(703
)
1,100
(1,466
)
569
Non-GAAP income (loss) attributable to Fulgent
$
4,521
$
9,438
$
8,063
$
13,868
Net loss per common share attributable to Fulgent:
Basic
$
(0.21
)
$
(0.48
)
$
(1.21
)
$
(1.22
)
Diluted
$
(0.21
)
$
(0.48
)
$
(1.21
)
$
(1.22
)
Non-GAAP income per common share attributable to Fulgent:
Basic
$
0.15
$
0.31
$
0.26
$
0.46
Diluted
$
0.14
$
0.31
$
0.26
$
0.46
Weighted average common shares:
Basic
30,749
30,416
30,708
30,095
Diluted
31,312
30,679
30,952
30,404
FULGENT GENETICS, INC.
Non-GAAP Adjusted EBITDA Reconciliation
Three and Nine Months Ended September 30, 2025, and 2024
(in thousands)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025
2024
2025
2024
Net loss attributable to Fulgent
$
(6,608
)
$
(14,648
)
$
(37,095
)
$
(36,820
)
Interest income, net
(7,846
)
(8,076
)
(23,924
)
(23,391
)
Benefit from income taxes
(683
)
(3,838
)
(2,770
)
(6,281
)
Depreciation and amortization
6,038
5,920
18,011
18,736
Equity-based compensation expense
9,717
10,920
30,306
34,073
Insurance expense related to transferable tax credits
—
—
283
—
Impairment loss
—
10,073
9,926
10,073
Acquisition-related costs
90
—
387
—
Adjusted EBITDA
$
708
$
351
$
(4,876
)
$
(3,610
)
FULGENT GENETICS, INC.
Non-GAAP Operating Margin
Three and Nine Months Ended September 30, 2025, and 2024
(in thousands, except percentages)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025
2024
2025
2024
Revenue
$
84,069
$
71,743
$
239,335
$
207,256
Cost of revenue
48,557
44,972
141,042
131,890
Gross profit
35,512
26,771
98,293
75,366
Gross margin
42.2
%
37.3
%
41.1
%
36.4
%
Equity-based compensation included in cost of revenue
1,697
1,940
5,214
5,948
Non-GAAP gross profit
37,209
28,711
103,507
81,314
Non-GAAP gross margin
44.3
%
40.0
%
43.2
%
39.2
%
Operating expenses
50,862
43,850
153,151
133,149
Equity-based compensation included in operating expenses
8,020
8,980
25,092
28,125
Amortization of intangible assets
2,025
1,993
6,005
5,973
Acquisition-related costs
90
—
387
—
Non-GAAP operating expenses
40,727
32,877
121,667
99,051
Non-GAAP operating loss
$
(3,518
)
$
(4,166
)
$
(18,160
)
$
(17,737
)
Non-GAAP operating margin
-4.2
%
-5.8
%
-7.6
%
-8.6
%
More News From Fulgent Genetics, Inc.
2025-11-07 12:271mo ago
2025-11-07 07:061mo ago
Ubiquiti Inc. Reports First Quarter Fiscal 2026 Financial Results
NEW YORK--(BUSINESS WIRE)--Ubiquiti Inc. (NYSE: UI) ("Ubiquiti" or the "Company") today announced its financial results for the first quarter ended September 30, 2025.
First Quarter Fiscal 2026 Financial Summary
Revenues of $733.8 million
GAAP diluted EPS of $3.43
Non-GAAP diluted EPS of $3.46
Additional Financial Highlight
The Company's Board of Directors declared a $0.80 per share cash dividend payable on November 24, 2025 to shareholders of record at the close of business on November 17, 2025.
Financial Highlights ($, in millions, except per share data)
Income statement highlights
F1Q26
F4Q25
F1Q25
Revenues
733.8
759.2
550.3
Enterprise Technology
657.1
680.1
470.2
Service Provider Technology
76.6
79.0
80.2
Gross profit
337.4
342.7
231.6
Gross Profit (%)
46.0%
45.1%
42.1%
Total Operating Expenses
75.7
81.3
62.4
Income from Operations
261.7
261.4
169.2
GAAP Net Income
207.9
266.7
128.0
GAAP EPS (diluted)
3.43
4.41
2.12
Non-GAAP Net Income
209.3
214.4
129.3
Non-GAAP EPS (diluted)
3.46
3.54
2.14
Ubiquiti Inc.
Revenues by Product Type
(In thousands)
(Unaudited)
Three Months Ended September 30,
2025
2024
Enterprise Technology
$
657,147
$
470,184
Service Provider Technology
76,626
80,160
Total revenues
$
733,773
$
550,344
Ubiquiti Inc.
Revenues by Geographical Area
(In thousands)
(Unaudited)
Three Months Ended September 30,
2025
2024
North America
$
382,824
$
271,247
Europe, the Middle East and Africa
263,120
204,888
Asia Pacific
53,124
40,938
South America
34,705
33,271
Total revenues
$
733,773
$
550,344
Income Statement Items
Revenues
Revenues for the first quarter of fiscal 2026 were $733.8 million, representing a decrease from the prior quarter of 3.3% and an increase from the comparable prior year period of 33.3%.
The decrease in revenues as compared to the prior quarter was driven by a decrease in revenue from both our Enterprise Technology platform and Service Provider Technology platform. The increase in revenues as compared to the comparable prior year period was driven by an increase in revenue from our Enterprise Technology platform, offset in part by decrease in revenue from our Service Provider Technology platform.
Gross Margins
During the first quarter of fiscal 2026, GAAP gross profit was $337.4 million. GAAP gross margin of 46.0% increased by 0.9% as compared to the prior quarter GAAP gross margin of 45.1% and increased by 3.9% as compared to the comparable prior year period GAAP gross margin of 42.1%.
The increase in gross profit margin as compared to the prior quarter was primarily driven by favorable product mix, and as a percentage of revenue, lower shipping costs and indirect operating expenses, offset in part by incremental excess and obsolete inventory charges and higher tariff costs. The increase in gross profit margin as compared to the comparable prior year period was primarily driven by favorable product mix and, as a percentage of revenue, lower shipping costs, indirect operating expenses, and excess and obsolete inventory charges, offset in part by higher tariff costs.
Research and Development
During the first quarter of fiscal 2026, research and development ("R&D") expenses were $48.5 million. This reflects an increase compared to the prior quarter's R&D expenses of $47.5 million and also an increase compared to the R&D expenses of $38.0 million in the comparable prior year period.
The increase in R&D expenses as compared to the prior quarter was primarily driven by higher employee-related expenses and depreciation, offset in part by lower prototype-related expenses. The increase in R&D expenses as compared to the comparable prior year period was primarily driven by higher employee-related expenses, higher prototype-related expenses and software costs.
Sales, General and Administrative
The Company’s sales, general and administrative ("SG&A") expenses for the first quarter of fiscal 2026 were $27.1 million. This reflects a decrease as compared to the SG&A expenses of $33.9 million in the prior quarter and an increase compared to the SG&A expenses of $24.4 million in the comparable prior year period.
The decrease in SG&A costs as compared to the prior quarter was primarily due to lower reserves taken against accounts receivables, lower fees associated with webstore credit card processing and lower marketing expenses and employee-related expenses, offset in part by higher professional fees. The increase in SG&A as compared to the comparable prior year period was primarily due to higher fees associated with webstore credit card processing and higher employee-related expenses, professional fees and software expenses, partially offset by lower marketing expenses.
Interest Expense and Other, net
During the first quarter of fiscal 2026, interest expense and other, net ("I&O") expenses were $3.2 million. This is consistent with the I&O expenses of $3.2 million in the prior quarter and reflects a decrease as compared to the I&O expenses of $10.6 million in the comparable prior year period.
The decrease in I&O expenses as compared to the comparable prior year period was primarily due to lower interest expense driven by a decrease in borrowings and lower interest rates and foreign exchange losses in the first quarter of fiscal 2026 compared to foreign exchange gains in the comparable prior year period.
Net Income and Earnings Per Share
During the first quarter of fiscal 2026, GAAP net income was $207.9 million and non-GAAP net income was $209.3 million. This reflects an increase in GAAP net income and non-GAAP net income from the comparable prior year period by 62.4% and 61.9%, respectively, primarily driven by higher revenues and gross profit. First quarter fiscal 2026 GAAP earnings per diluted share was $3.43 and non-GAAP earnings per diluted share was $3.46. This reflects an increase in GAAP and non-GAAP earnings per diluted share from the comparable prior year period of 61.8% and 61.7%, respectively.
About Ubiquiti Inc.
Ubiquiti Inc. is focused on democratizing network technology on a global scale — creating networking infrastructure in over 200 countries and territories around the world. Our professional networking products are powered by our UISP and UniFi software platforms to provide high-capacity distributed Internet access and unified information technology management, respectively.
Ubiquiti and the U logo are trademarks or registered trademarks of Ubiquiti and/or its affiliates in the United States and other countries. For more information, please visit www.ui.com.
Safe Harbor for Forward Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements other than statements of historical fact including words such as "look", "will", "anticipate", "believe", "estimate", "expect", "forecast", "consider" and "plan" and statements in the future tense are forward looking statements. The statements in this press release that could be deemed forward-looking statements include the statement regarding our intention to pay quarterly cash dividends, any statements or assumptions underlying the foregoing, and any statement regarding future events and the future financial performance of Ubiquiti Inc. that involves risks or uncertainties.
Forward-looking statements are subject to certain risks and uncertainties that could cause our actual future results to differ materially or cause a material adverse impact on our results. Potential risks and uncertainties include, but are not limited to, the impact of U.S. tariffs on our operations and financial results; the impact of public health problems, such as COVID-19 on results; fluctuations in our operating results; varying demand for our products due to the financial and operating condition of our distributors and their customers, and our distributors’ inventory management practices; political and economic conditions and volatility affecting the stability of business environments, economic growth, currency values, commodity prices and other factors that may influence the ultimate demand for our products in particular geographies or globally; impact of counterfeiting and our ability to contain such impact; our reliance on a limited number of distributors; inability of our contract manufacturers and suppliers to meet our demand; our dependence on chipset suppliers for chipsets without a short-term alternative; as we move into new markets competition from certain of our current or potential competitors who may be more established in such markets; our ability to keep pace with technological and market developments; success and timing of new product introductions by us and the performance of our products generally; our ability to effectively manage the significant increase in our transactional sales volumes; we may become subject to warranty claims, product liability and product recalls; that a substantial majority of our sales are into countries outside the United States and we are subject to numerous U.S. export control and economic sanctions laws; costs related to responding to government inquiries related to regulatory compliance; our reliance on certain key members of our management team, including our founder and chief executive officer, Robert J. Pera; adverse tax-related matters such as tax audits, changes in our effective tax rate or new tax legislative proposals; whether the final determination of our income tax liability may be materially different from our income tax provisions; the impact of any intellectual property litigation and claims for indemnification; litigation related to U.S. securities laws; and social, economic and political conditions in the United States and abroad, including the impact of the military conflict between Russia and Ukraine and the tension between China and Taiwan. We discuss these risks in greater detail under the heading "Risk Factors" and elsewhere in our Annual Report on Form 10-K for the year ended June 30, 2025, and subsequent filings filed with the U.S. Securities and Exchange Commission (the "SEC"), which are available at the SEC’s website at www.sec.gov. Copies may also be obtained by contacting the Ubiquiti Inc. Investor Relations Department, by email at [email protected] or by visiting the Investor Relations section of the Ubiquiti Inc. website, https://ir.ui.com/.
Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date made. Except as required by law, Ubiquiti Inc. undertakes no obligation to update information contained herein. You should review our SEC filings carefully and with the understanding that our actual future results may be materially different from what we expect.
Ubiquiti Inc.
Condensed Consolidated Statements of Operations
and Comprehensive Income
(In thousands, except per share data) (Unaudited)
Three Months Ended September 30,
2025
2024
Revenues
$
733,773
$
550,344
Cost of revenues
396,364
318,726
Gross profit
337,409
231,618
Operating expenses:
Research and development
48,543
37,997
Sales, general and administrative
27,144
24,415
Total operating expenses
75,687
62,412
Income from operations
261,722
169,206
Interest expense and other, net
3,182
10,578
Income before income taxes
258,540
158,628
Provision for income taxes
50,664
30,640
Net income
$
207,876
$
127,988
Net income per share of common stock:
Basic
$
3.44
$
2.12
Diluted
$
3.43
$
2.12
Weighted average shares used in computing net income per share of common stock:
Basic
60,499
60,469
Diluted
60,559
60,494
Ubiquiti Inc.
Reconciliation of GAAP Net Income to Non-GAAP Net Income
(In thousands, except per share data)
(Unaudited)
Three Months Ended
September 30,
2025
June 30,
2025
September 30,
2024
Net Income
$
207,876
$
266,705
$
127,988
Share-based compensation:
Cost of revenues
70
65
54
Research and development
1,311
1,331
1,237
Sales, general and administrative
503
476
405
Tax effect of Non-GAAP adjustment relating to Share-based compensation
(450
)
(462
)
(416
)
Deferred Tax benefit from intangibles realignment transaction
—
(53,668
)
—
Non-GAAP net income
$
209,310
$
214,447
$
129,268
Non-GAAP diluted EPS
$
3.46
$
3.54
$
2.14
Shares outstanding (Diluted)
60,559
60,545
60,494
Weighted-average shares used in Non-GAAP diluted EPS
60,559
60,545
60,494
Use of Non-GAAP Financial Information
To supplement our condensed consolidated financial results prepared under generally accepted accounting principles, or GAAP, we use non-GAAP measures of net income and earnings per diluted share that are adjusted to exclude certain costs, expenses and gains such as share-based compensation expense and the tax effects of these non-GAAP adjustments and the deferred tax benefit from intercompany intangibles realignment transaction.
Reconciliations of the adjustments to GAAP results for the periods presented are provided above. In addition, an explanation of the ways in which management uses non-GAAP financial information to evaluate its business, the substance behind management’s decision to use this non-GAAP financial information, material limitations associated with the use of non-GAAP financial information, the manner in which management compensates for those limitations, and the substantive reasons management believes that this non-GAAP financial information provides useful information to investors is included under the paragraphs below.
Usefulness of Non-GAAP Financial Information to Investors
We believe that the presentation of non-GAAP net income and non-GAAP earnings per diluted share provides important supplemental information regarding non-cash expenses, significant items that we believe are important to understanding our financial, and business trends relating to our financial condition and results of operations. Non-GAAP net income and non-GAAP earnings per diluted share are among the primary indicators used by management as a basis for planning and forecasting future periods and by management and our board of directors to determine whether our operating performance has met specified targets and thresholds. Management uses non-GAAP net income and non-GAAP earnings per diluted share when evaluating operating performance because it believes that the exclusion of the items described below, for which the amounts or timing may vary significantly depending upon the Company’s activities and other factors, facilitates comparability of the Company’s operating performance from period to period. We have chosen to provide this information to investors so they can analyze our operating results in the same way that management does and use this information in their assessment of our business and the valuation of our Company.
About our Non-GAAP Net Income and Non-GAAP Earnings per Diluted Share
We compute non-GAAP net income and non-GAAP earnings per diluted share by adjusting GAAP net income and GAAP earnings per diluted share to remove the impact of certain adjustments and the tax effect of those adjustments. Items excluded from net income are:
Share-based compensation expense
Tax effect of non-GAAP adjustments, applying the principles of ASC 740; and
Deferred Tax benefit from intangibles realignment transaction.
These non-GAAP measures are not in accordance with, or an alternative to, GAAP and may be materially different from other non-GAAP measures, including similarly titled non-GAAP measures used by other companies. The presentation of this additional information should not be considered in isolation from, as a substitute for, or superior to, net income or earnings per diluted share prepared in accordance with GAAP. Non-GAAP financial measures have limitations in that they do not reflect certain items that may have a material impact upon our reported financial results.
For more information on the non-GAAP adjustments, please see the table captioned "Reconciliation of GAAP Net Income to non-GAAP Net Income" included in this press release.
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Quebecor Inc. (QBR.A:CA) Q3 2025 Earnings Call Transcript
Quebecor Inc. (QBR.A:CA) Q3 2025 Earnings Call November 6, 2025 11:00 AM EST
Company Participants
Hugues Simard - Chief Financial Officer
Pierre Péladeau - CEO & President
Conference Call Participants
Maher Yaghi - Scotiabank Global Banking and Markets, Research Division
Sam Schmidt - CIBC Capital Markets, Research Division
Matthew Griffiths - BofA Securities, Research Division
Jerome Dubreuil - Desjardins Securities Inc., Research Division
Vince Valentini - TD Cowen, Research Division
Aravinda Galappatthige - Canaccord Genuity Corp., Research Division
Drew McReynolds - RBC Capital Markets, Research Division
Drew McReynolds
Tim Casey - BMO Capital Markets Equity Research
Presentation
Operator
Good day, everyone, and thank you for standing by. Welcome to the Quebecor Inc. financial results for the third quarter 2025 conference call. I would now like to introduce Hugues Simard, Chief Financial Officer of Quebecor Inc. Please go ahead.
Hugues Simard
Chief Financial Officer
Ladies and gentlemen, welcome to this Quebecor conference call. My name is Hugues Simard. I'm the CFO. And joining me to discuss our financial and operating results for the third quarter of 2025 is Pierre Karl Peladeau, our President and Chief Executive Officer. Anyone unable to attend the conference call will be able to access the recorded version by logging on to the webcast available on Quebecor's website until January 5.
As usual, I also want to inform you that certain statements made on the call today may be considered forward-looking, and we would refer you to the risk factors outlined in today's press release and reports filed by the corporation with the regulatory authorities. Let me now turn the floor to Pierre Karl.
Pierre Péladeau
CEO & President
[Foreign Language] and good morning, everyone. So more than 15 years ago, recognizing a huge opportunity in Quebec and across Canada, Quebecor set out on a growth strategy based on wireless. First, launching as an MVNO, then building our own network and further
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Constellation Energy Stock Falls After Mixed Earnings Report
November 07, 2025 7:11 AM EST | Source: First Phosphate Corp.
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES
Saguenay, Quebec--(Newsfile Corp. - November 7, 2025) - First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce a non-brokered private placement to a strategic investor for gross proceeds of a minimum of $2,000,000 million (the "Offering").
The Offering is anticipated to consist of any combination of:
Flow-through shares of the Company ("Flow-Through Shares") at a price of $0.90 per share ("Flow-Through Offering"); andHard dollar units of the Company ("Hard Dollar Unit") at a price of $0.90 per Hard Dollar Unit (the "Hard Dollar Unit Offering"), with each Hard Dollar Unit comprised of: (i) one common share in the capital of the Company ("Common Share"), and (ii) one Common Share purchase warrant ("Warrant") with each Warrant exercisable for one Common Share at a price of $1.25 per Common Share until April 30, 2026, subject to an Accelerated Expiry Date (as defined below).The gross proceeds from the Flow-Through Offering will be used to incur "Canadian exploration expenses" that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) related to the Company's projects in Québec. The net proceeds received from the Hard Dollar Unit Offering will be used for exploration and development activities, working capital and for general corporate purposes. The Offering is expected to close on or about November 21, 2025, or such other date or dates as may be determined by the Company. All securities issued under the Offering will be subject to a four-month and one day statutory hold period in accordance with applicable securities laws.
In connection with the Offering, eligible finders will be paid: (i) a fee consisting of up to 8% of the gross proceeds raised from subscribers introduced by them, and (ii) such number of compensation warrants ("Compensation Warrants") as is equivalent of up to 8% of the number of Hard Dollar Units or Flow-Through Shares issued to subscribers introduced by them. Each Compensation Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.90 per share until April 30, 2026, provided that if the volume weighted average trading price of the Common Shares on the Canadian Securities Exchange for any 5 consecutive trading days equals or exceeds $2.00, the Company may, upon issuing a press release, accelerate the expiry date of the Compensation Warrants to the date that is 30 days following the date of such press release ("Accelerated Expiry Date"). The Company reserves the right to pay cash finders' fees on the Flow-Through Offering in Common Shares rather than cash issued at the Flow-Through Offering issue price.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. There can be no assurance that the Offering will be completed, whether in whole or in part.
About First Phosphate Corp.
First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development and cleantech company dedicated to building and onshoring a vertically integrated mine-to-market lithium iron phosphate (LFP) battery supply chain for North America. Target markets include energy storage, data centers, robotics, mobility and national security.
First Phosphate's flagship Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean, Quebec, Canada is a North American rare igneous phosphate resource yielding high-purity phosphate with minimal impurities.
Forward-Looking Information and Cautionary Statements
This release includes certain statements that may be deemed "forward-looking information". Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In particular, this press release contains forward-looking information relating to, among other things, the completion of the Offering, the anticipated closing date(s) of the Offering, the intended use of proceeds of the Offering, approval of the CSE and the filing of the Offering Document. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, development and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions; that the Company and other parties will be able to satisfy stock exchange and other regulatory requirements in a timely manner; that CSE approval will be granted in a timely manner subject only to standard conditions and that all conditions precedent to the completion of the Offering will be satisfied in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. All forward-looing information contained in this release is qualified by these cautionary statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273481
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Novanta Inc. Announces Pricing of $550,000,000 Tangible Equity Units Offering
BOSTON--(BUSINESS WIRE)--Novanta Inc. (Nasdaq: NOVT) ("Novanta" or the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, announced today that it has priced its previously announced public offering of 11 million of its 6.50% tangible equity units at $50.00 per unit (equal to the stated amount per unit). The transaction is a public offering made by means of a prospectus supplement under Novanta's effective shelf registration statement. Novanta's.
Q3: 2025-11-05 Earnings SummaryEPS of $1.09 beats by $0.02
|
Revenue of
$1.12B
(3.99% Y/Y)
beats by $7.86M
NCR Atleos Corporation (NATL) Q3 2025 Earnings Call November 6, 2025 8:30 AM EST
Company Participants
Melanie Skijus
Timothy Oliver - CEO, President & Director
R. Wamser - Executive VP & CFO
Stuart MacKinnon - Executive VP & COO
Conference Call Participants
Keen Fai Tong - Goldman Sachs Group, Inc., Research Division
Matt Summerville - D.A. Davidson & Co., Research Division
Dominick Gabriele - Compass Point Research & Trading, LLC, Research Division
Antoine Legault - Wedbush Securities Inc., Research Division
Presentation
Operator
Good day, and welcome to the NCR Atleos Q3 2025 Earnings Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Melanie Skijus, Head of Investor Relations. Please go ahead.
Melanie Skijus
Good morning, and thank you for joining the Atleos Third Quarter 2025 Earnings Call. Joining me on the call today are Tim Oliver, Chief Executive Officer; Andy Wamser, Chief Financial Officer; and Stuart MacKinnon, Chief Operating Officer.
During the call, we will reference our third quarter 2025 earnings presentation available through the webcast and on our new Investor Relations website at investor.ncratleos.com.
Today's presentation will include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. Risks and uncertainties include, but are not limited to, the factors identified in today's earnings materials and our periodic filings with the SEC, including our annual report.
During the call today, we will also refer to certain non-GAAP financial measures, which the company uses to measure its performance. These non-GAAP measures are reconciled to their GAAP counterparts in the presentation materials.
The webcast this morning is being recorded and will be available for replay by accessing our Investor Relations website.
With
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International Consolidated Airlines Group S.A. (ICAGY) Q3 2025 Earnings Call Transcript
International Consolidated Airlines Group S.A. (OTCPK:ICAGY) Q3 2025 Earnings Call November 7, 2025 3:30 AM EST
Company Participants
Luis Martín - CEO & Executive Director
Nicholas Cadbury - e Group Chief Financial & Sustainability Officer
Sean Doyle - CEO & Chairman of British Airways
Carolina Martinoli - Chief Executive Officer and Chair of Vueling
Adam Daniels - Chairman & CEO of IAG Loyalty
Lynne Embleton - Chairman & CEO of Aer Lingus
Marco Sansavini - Chairman & CEO of Iberia
Conference Call Participants
Alexander Irving - Sanford C. Bernstein & Co., LLC., Research Division
James Hollins - BNP Paribas, Research Division
Stephen Furlong - Davy, Research Division
Jaime Rowbotham - Deutsche Bank AG, Research Division
Savanthi Syth - Raymond James & Associates, Inc., Research Division
Harry Gowers - JPMorgan Chase & Co, Research Division
Conor Dwyer - Citigroup Inc., Research Division
Ruairi Cullinane - RBC Capital Markets, Research Division
Andrew Lobbenberg - Barclays Bank PLC, Research Division
Patrick Creuset - Goldman Sachs Group, Inc., Research Division
Muneeba Kayani - BofA Securities, Research Division
Gerald Khoo - Panmure Liberum Limited, Research Division
James Goodall - Rothschild & Co Redburn, Research Division
Jarrod Castle - UBS Investment Bank, Research Division
Alexander Paterson - Peel Hunt LLP, Research Division
Presentation
Operator
Good morning, ladies and gentlemen, and welcome to the International Airlines Group Third Quarter 2025 Results Call. [Operator Instructions] I would like to remind all participants that this call is being recorded.
I will now hand over to Luis Gallego, Chief Executive Officer, to open the presentation. Please go ahead.
Luis Martín
CEO & Executive Director
Thank you very much. Good morning, everyone, and welcome to the IAG third quarter results. Today, I have with me Nicholas Cadbury, our CFO; as well as members of the IAG Management Committee. This has been another good quarter for IAG, and we are on track for another very good year. Our strong fundamentals underpin our best-in-class value creation over the long term. We are
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Is State Street SPDR S&P Retail ETF (XRT) a Strong ETF Right Now?
The State Street SPDR S&P Retail ETF (XRT - Free Report) was launched on 06/19/2006, and is a smart beta exchange traded fund designed to offer broad exposure to the Consumer Discretionary ETFs category of the market.
What Are Smart Beta ETFs?Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
A good option for investors who believe in market efficiency, market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.
Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.
Fund Sponsor & IndexBecause the fund has amassed over $284.35 million, this makes it one of the larger ETFs in the Consumer Discretionary ETFs. XRT is managed by State Street Investment Management. XRT, before fees and expenses, seeks to match the performance of the S&P Retail Select Industry Index.
The S&P Retail Select Industry Index represents the retail sub-industry portion of the S&P TMI. The S&P TMI tracks all the U.S. common stocks listed on the NYSE, AMEX, NASDAQ National Market and NASDAQ Small Cap exchanges. The Retail Index is a modified equal weight index.
Cost & Other ExpensesExpense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
Operating expenses on an annual basis are 0.35% for XRT, making it one of the cheaper products in the space.
The fund has a 12-month trailing dividend yield of 1.33%.
Sector Exposure and Top HoldingsEven though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
XRT's heaviest allocation is in the Consumer Discretionary sector, which is about 78.7% of the portfolio. Its Consumer Staples and Energy round out the top three.
When you look at individual holdings, Etsy Inc (ETSY) accounts for about 1.77% of the fund's total assets, followed by Odp Corp/the (ODP) and National Vision Holdings Inc (EYE).
The top 10 holdings account for about 16.11% of total assets under management.
Performance and RiskSo far this year, XRT has lost about -0.37%, and it's up approximately 1.3% in the last one year (as of 11/07/2025). During this past 52-week period, the fund has traded between $62.11 and $88.49.
The fund has a beta of 1.24 and standard deviation of 23.78% for the trailing three-year period, which makes XRT a medium risk choice in this particular space. With about 80 holdings, it effectively diversifies company-specific risk .
AlternativesState Street SPDR S&P Retail ETF is not a suitable option for investors seeking to outperform the Consumer Discretionary ETFs segment of the market. Instead, there are other ETFs in the space which investors should consider.
Amplify Online Retail ETF (IBUY) tracks EQM Online Retail Index and the VanEck Retail ETF (RTH) tracks MVIS US Listed Retail 25 Index. Amplify Online Retail ETF has $147.61 million in assets, VanEck Retail ETF has $253.07 million. IBUY has an expense ratio of 0.65% and RTH changes 0.35%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Consumer Discretionary ETFs
Bottom LineTo learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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CareTrust REIT: Strength In Operational Abilities And A Next-Decade Theme
Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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Cars.com Inc. (CARS) Q3 2025 Earnings Call Transcript
Q3: 2025-11-06 Earnings SummaryEPS of $0.48 misses by $0.01
|
Revenue of
$181.57M
(1.07% Y/Y)
beats by $206.43K
Cars.com Inc. (CARS) Q3 2025 Earnings Call November 6, 2025 9:00 AM EST
Company Participants
Katherine Chen - Vice President of Investor Relations
Alex Vetter - Co-Founder, CEO & Director
Sonia Jain - Chief Financial Officer
Conference Call Participants
Thomas White - D.A. Davidson & Co., Research Division
Gary Prestopino - Barrington Research Associates, Inc., Research Division
Rajat Gupta - JPMorgan Chase & Co, Research Division
Marvin Fong - BTIG, LLC, Research Division
Naved Khan - B. Riley Securities, Inc., Research Division
Joseph Spak - UBS Investment Bank, Research Division
Presentation
Operator
Good morning, ladies and gentlemen, and welcome to the Cars Third Quarter 2025 Earnings Conference Call.
[Operator Instructions]
This call is being recorded on Thursday, November 6, 2025. I would now like to turn the conference over to Katherine Chen. Please go ahead.
Katherine Chen
Vice President of Investor Relations
Good morning, everyone, and thank you for joining us for the Cars.com Inc. Third Quarter 2025 Conference Call. With me this morning are Alex Vetter, CEO; and Sonia Jain, CFO. Alex will start by discussing the business highlights from our third quarter. Then Sonia will discuss our financial results in greater detail, along with our outlook. We'll finish the call with Q&A.
Before I turn the call over to Alex, I'd like to draw your attention to our forward-looking statements and the description and the definition of non-GAAP financial measures, which can be found in our presentation. We'll be discussing certain non-GAAP financial measures today, including adjusted EBITDA, adjusted EBITDA margin, adjusted operating expenses, adjusted net income and free cash flow. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures can be found in the financial tables included with our earnings press release and in the appendix of our presentation.
Any forward-looking statements are subject to risks and uncertainties. For more
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2025-11-07 11:271mo ago
2025-11-07 05:261mo ago
Bitcoin hovers above $100,000 as whale buying and ETF inflows lift sentiment: analysts
Bitcoin is still trading above $100,000 after a bruising week of volatility. The market-leading cryptocurrency has been buoyed by renewed institutional inflows and signs of whale accumulation that, analysts say, suggest confidence is quietly returning to the largest cryptocurrency by market capitalization.
According to The Block’s price page, bitcoin traded near $101,500 after oscillating between $100,000 and $103,000 in the past 24 hours. The move marks the first stretch of stability since recent deleveraging events, which pushed BTC below six figures for the first time since May.
"The tone has shifted from panic to positioning," said Timothy Misir, head of research at BRN. "The leverage flush has left derivatives markets clean and spot markets primed for accumulation. With ETF inflows resuming and whales adding aggressively, the stage may be set for recalibration rather than continuation of the drawdown."
ETF inflows return after six days of outflows
After nearly a week of redemptions, U.S. spot bitcoin ETFs recorded $240 million in net inflows on Thursday — breaking a six-day losing streak. Ethereum ETFs added $12.5 million, and Solana ETFs extended their streak to eight straight days of inflows with $29 million.
Analysts regard the reversal as significant. ETF flows have become a proxy for institutional sentiment, and when redemptions stop, it often marks the end of short-term deleveraging phases.
Adding to the bullish signals, Misir flagged accumulation from large holders as bitcoin retreated to a five-month low. "Whales and institutions have added nearly 30,000 BTC this week, worth almost $3 billion," Misir noted. "Long-term holders remain in control, and that underpins the market’s structural stability."
Macro lens: mixed signals but easing tension
Macroeconomic data reinforced a sense of cautious optimism. U.S. employers announced 153,074 job cuts in October, a 175% year-over-year increase — the highest October reading since 2003 — highlighting corporate caution in a slowing economy.
Still, QCP Capital said in a Wednesday note that "the macro backdrop remains constructive but obscured by Washington’s ongoing government shutdown." The firm pointed to a mix of resilient GDP prints and softer payroll data, suggesting "robust productivity gains" and moderate growth momentum.
Yet, policy clarity remains elusive. After the Fed’s October rate cut, the odds of another move in December sit near 60%, according to QCP, but "the longer the blackout drags on, the more comfortable policymakers may become with pausing."
Markets found modest relief from the ongoing U.S.-China thaw, with trade tariffs eased earlier this week, and from the Fed’s resumed repo operations, which have alleviated recent dollar liquidity strain. The result has been a brief pause in the cross-asset deleveraging that hit equities, metals, and crypto alike earlier in the week.
Rotation over retreat
Market structure metrics show that capital is rotating within crypto, not exiting entirely. Data from FalconX indicates traders remain cautious but engaged.
"While there’s clearly some short-term bearishness, we’re not seeing people flee to cash," said Griffin Sears, head of derivatives at FalconX, shared with The Block. "Funds are selling alts and switching into major currencies like bitcoin and ether. That could spur another period of rising bitcoin dominance — a sign that institutional conviction still lies in BTC."
Ethereum traded near $3,340, while BNB hovered around $955 and Solana held at $155, The Block’s price page shows.
Onchain data also supports the recovery narrative. Roughly 71% of the total BTC supply remains in profit, while exchange balances continue to fall, a signal of long-term accumulation rather than capitulation.
Analyst outlooks shift, but conviction holds
Despite the rebound, market forecasts have become more restrained. Galaxy Digital trimmed its year-end bitcoin target from $185,000 to $120,000. The firm expects competition from AI and gold, coupled with profit taking, might throttle BTC’s upside.
Similarly, Cathie Wood’s Ark Invest lowered its bull-case projection by $300,000, suggesting stablecoins have absorbed part of BTC’s traditional use case.
Conversely, JPMorgan reiterated its view that bitcoin could reach $170,000 within 6–12 months, driven by macro easing and ETF momentum.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
Bitcoin’s price is struggling to stay above $100,000, as traders turn cautious and selling pressure builds across major exchanges. The broader crypto market also shows signs of weakness, with most assets trading flat or slightly lower. Yet, even as traders pull back, Tether—the world’s largest stablecoin issuer—has quietly made a notable move in the background, sparking fresh curiosity about what could be coming next for Bitcoin.
Tether Quietly Accumulates Over 960 BTC Worth $98 MillionWhile traders remain on edge, Tether, the issuer of the world’s largest stablecoin USDT, has quietly accumulated more Bitcoin. The company recently added over 960 BTC worth approximately $98 million, continuing its long-term strategy of converting a portion of its net profits into Bitcoin.
With this latest purchase, Tether strengthens its position as one of the biggest corporate holders of BTC, alongside firms like MicroStrategy. This move reflects growing institutional confidence in Bitcoin’s long-term potential, even during periods of weak market sentiment. Tether’s ongoing accumulation could act as a subtle vote of confidence—suggesting that large players may be preparing for a stronger recovery once the current consolidation phase ends.
Bearish Sentiment Dominates Short-Term TradingDespite occasional price rebounds, short-term sentiment among Bitcoin traders remains largely bearish. Data shows that the Spot Cumulative Volume Delta (CVD) has trended lower across major exchanges, signaling sustained sell pressure and limited aggressive spot buying. This means that more traders are selling into rallies than buying dips.
Many short-term speculators are likely being cautious due to recent volatility and uncertainty in the macro environment, including interest rate concerns and slower institutional inflows. However, while retail sentiment appears defensive, this environment often creates opportunities for larger investors to accumulate quietly—a trend that aligns with Tether’s latest move and could set the stage for a potential shift in momentum.
Smart Money vs. Market SentimentThe current setup in the Bitcoin market highlights a clear divergence between smart money and retail traders. While most traders are hesitant or taking profits, Tether’s latest Bitcoin purchase signals a longer-term, confident outlook. Historically, such divergences have often marked important inflection points—when institutional accumulation occurs quietly before a larger market move.
If Bitcoin manages to hold its key support zones and buying activity from entities like Tether continues, sentiment could turn bullish again. For now, the market stands at a crossroads: retail traders are cautious, yet institutional actions suggest confidence in Bitcoin’s future, creating a tension that could soon resolve into a decisive move.
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2025-11-07 11:271mo ago
2025-11-07 05:291mo ago
Bitcoin Price Analysis: What Are BTC's Next Key Support Levels if $100K Falls?
Bitcoin has recently fallen below the crucial $100K support level, indicating a notable bearish move. If buyers couldn’t hold this critical level, another cascade toward the $95K range will occur.
Technical Analysis
By Shayan
The Daily Chart
On the daily timeframe, BTC remains locked between the $100K–$102K demand block and the $114K resistance cluster, with both the 100-day and 200-day moving averages now acting as overhead resistance.
The most recent rejection from the 100-day MA around $110K led to a retest of the $101K support, completing a full liquidity sweep of the previous range low.
What stands out now is the price stabilization within a historical high-volume node, exactly where previous macro corrections have found their base. The extended series of equal lows (marked “$$”) suggests that liquidity below $100K has likely been harvested, a condition that, if followed by consolidation and a higher low formation, could confirm the presence of strong hands absorbing supply.
For bulls, the first confirmation of regained strength would be a reclaim of $106K–$108K, while for bears, a clean daily close below $99K opens the door to the $93K–$95K macro accumulation zone.
The 4-Hour Chart
Zooming in, the 4-hour structure displays a compressed descending range, where every lower high is forming closer to support, a classic pattern of momentum exhaustion.
The asset has repeatedly tested the $101K–$102K zone, creating short-term imbalance pockets above $106K and $110K, which may later act as magnet levels for any corrective rallies. This coiling behavior often appears near the end of a corrective phase, as leveraged positions are flushed out and volatility contracts.
If the price manages to reclaim the $106K pivot, a short-term reversal toward $110K could follow, completing the mean-reversion move. However, sustained rejection from $104K would keep the accumulation scenario open for a longer period, extending the sideways range through mid-November.
On-Chain Analysis
By Shayan
The Realized Price by UTXO Age Bands provides critical insight into the current supply–demand balance between market cohorts.
Bitcoin’s price has declined below the 1–3 month and 3–6 month holders (purple and blue lines), meaning these cohorts are collectively underwater. This shift transforms their realized price levels (roughly $107K–$110K) into overhead supply zones, regions where many of these short-term holders may exit at breakeven once the asset rebounds, creating initial resistance during recovery phases.
Conversely, the 6–12-month cohort’s realized price (yellow line, near $95K–$96K) is emerging as a potential demand boundary. This group, generally more patient mid-term holders, historically provides market support during late-stage corrections, absorbing supply from capitulating short-term investors.
This distribution of realized prices paints a clear structural picture; Bitcoin is trapped between realized supply (short-term loss holders) and realized demand (mid-term strong hands). A sustained defense above the 6–12 month realized price band would signal that longer-term capital continues to absorb fear-driven selling, maintaining the larger bullish cycle intact.
However, a decisive breakdown below that level would indicate a deeper capitulation event, likely resetting sentiment before any macro reversal.
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2025-11-07 11:271mo ago
2025-11-07 05:321mo ago
Data Shows Bitcoin Buyers Going All-In at Record Pace
Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.
Last updated:
November 7, 2025
Bitcoin accumulator addresses just set a new all-time high by purchasing over 375,000 BTC in 30 days, with more than 50,000 BTC added yesterday alone, according to CryptoQuant analysis.
The aggressive buying persists even as overall market demand has slowed, while Bitcoin hovers around $101,000 amid extreme fear and a 37-day government shutdown that’s draining $15 billion weekly from U.S. GDP.
Source: CryptoQuantThe monthly average for these long-term holder wallets has more than doubled in under two months, surging from 130,000 to 262,000 BTC.
Meanwhile, Bitcoin whales added nearly 30,000 BTC, worth approximately $3 billion, this week, contrasting sharply with retail panic and ETF outflows that have dominated headlines following BTC’s 20% pullback from its October all-time high of $126,198.
Market Signals Point to Accumulation Zone Despite FearBitcoin’s MVRV ratio now stands at around 1.8, its lowest level since April 2025, indicating that the market value is approaching the average cost basis of investors.
Source: CryptoQuantHistorically, when the MVRV falls to the 1.8-2.0 range, it typically coincides with mid-term market bottoms or early phases of recovery.
At the same time, the Stablecoin Supply Ratio has dropped to its lowest point since the COVID-19 pandemic, indicating abundant dry powder ready to be deployed into BTC.
The Fear & Greed Index has also plunged to “Extreme Fear” territory, near 20, as over $1.7 billion in positions were liquidated in the past 24 hours, mostly from over-leveraged long positions.
Source: Alternative[dot]meHowever, exchange reserves continue to trend lower, which means coins are being withdrawn into self-custody rather than sold off, a behavior that historically aligns with stabilization phases.
The Realized Profit-to-Loss Ratio’s 90-day simple moving average sits at 9.4, marking a mild cooldown since July, yet still more than double the levels seen during the last two mid-cycle bear phases.
Source: GlassnodeNotably, on Binance futures, large support clusters have formed, with 700 BTC in limit orders sitting at $100,500. Meanwhile, a 1,000 BTC order at $102,000 was recently filled, which means institutions are still heavily participating.
Large support clusters forming on Binance Futures 📊
🔹 1,000 BTC limit order at $102,000 got filled
🔹 Current support: 700 BTC at $100,500, holding firm for now pic.twitter.com/xnS6P4NyEd
— Maartunn (@JA_Maartun) November 6, 2025
Macro Headwinds Reshape Ownership RatioBitcoin’s ownership structure has transformed dramatically as entity-scale holders surged their holdings 21.7% to 7.05 million BTC following spot ETF approval in January 2024, while retail holders reduced their balances by roughly 20% to 3.4 million BTC.
Uphold’s head of blockchain research, Martin Hiesboeck, attributes the shift to whales moving billions into regulated ETFs, drawn by tax advantages and easier access to institutional services, marking the first time self-custody may be declining in Bitcoin’s history.
Notably, Crypto trader Alex Kruger outlined a cautious market outlook, noting that the government shutdown poses near-term headwinds until it is resolved, estimated to occur sometime between the end of next week and Thanksgiving. Afterward, he expects “BTC +5% or more within 48 hours of deal.”
The December 10 FOMC meeting could prove hawkish as most Fed officials favor a pause not currently priced in, while a potential new Fed chair nomination before year-end could prove “bullish to very bullish.”
Market outlook for risk assets into year end and beyond
1. Government Shutdown: cautious stance until resolved.
2. Shutdown over: bullish, estimated to be resolved sometime between end of next week and Thanksgiving. Expect BTC +5% or more within 48 hours of deal.
3. FOMC…
— Alex Krüger (@krugermacro) November 7, 2025
Analysts Divided on Whether Bull Market Has EndedMarket sentiment has turned overwhelmingly negative following Bitcoin’s first October loss in seven years, with the 3.69% decline drawing nervous comparisons to 2018 when BTC plunged 36.6% in November after a similar October drop.
Market analyst Ted Pillows warned that crypto markets are heading lower, stating that “there’s a time to be bullish. Now is not that time.”
There’s a time to be bullish.
Now is not that time.
— Ted (@TedPillows) November 6, 2025
FXTM’s senior market analyst, Lukman Otunuga, told Cryptonews that it has been a “rough and rocky” few weeks, with sellers striking at every opportunity, and cumulative ETF outflows exceeding $1 billion since October 29.
While gold and the S&P 500 have clocked year-to-date returns of 52% and 15%, respectively, Bitcoin’s lagging at 8%, with Otunuga warning that a “solid move below $95,000” could lead to BTC’s first negative year since 2022.
The Coin Bureau’s co-founder Nic Puckrin offered a more balanced view, telling Cryptonews that a sustained drop below $100,000 “is possible, but certainly not inevitable,” arguing that OG Bitcoiners are “simply taking profits after holding for a long time” rather than losing confidence.
Puckrin cautioned that “many digital asset treasuries will sell in a downturn, because they have raised funds under specific terms and will need to meet those obligations, regardless of the price of BTC,” which could amplify selloffs through leverage.
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2025-11-07 11:271mo ago
2025-11-07 05:331mo ago
Bitcoin (BTC) Dips on Weak US Jobs Data & AI Bubble Fears: More Pain Ahead?
The Bitcoin bulls just can’t seem to staunch the relentless tide of selling. Each new push to the upside seems weaker than the last. Poor jobs data and fears that AI companies have become overbought tie into bearish market sentiment. Can Bitcoin suffer yet another price dip?
Jobs are falling as AI might also be about to dipThe worst unemployment figures for the month of October in the last twenty years saw 153,000 layoffs. According to a report by Challenger, Gray & Christmas, the main reason for what is now more than 1 million job losses since the start of 2025 is the effects of DOGE and its government cost-cutting actions. Another main contributor to the loss of jobs has been blamed on the rise of AI, which has allowed companies to restructure and automate processes.
On the subject of AI, stories now abound across mainstream media that are exploring the idea that AI has become vastly overbought, and that this is a bubble that could burst with huge repercussions for the US and global economies.
Big Short investor Michael Burry has been in the news recently given that his company is publicly betting against tech giants Nvidia and Palantir. The legendary investor appears to be convinced that AI is in a bubble and is shorting these stocks accordingly.
S&P 500 ripe for a big pullback?
Source: TradingView
The S&P 500 does look as though it may be ready for a big dip that could even out-do the plunge caused by the Trump tariffs earlier this year. Since that plunge, the Index more than recovered, but as can be seen in the chart above, the price has reached the top of the blue channel, and it might be expected to start falling from here. The bottom of the channel is a realistic target, but will President Trump allow it to fall that far?
Weak $BTC bounce on the way back down
Source: TradingView
The short-term chart for $BTC suggests that the price is going to keep coming down from a relatively weak bounce. It can be seen that the price is staying below the descending trendline and looks to be heading back to the previous low.
Having said that, the Relative Strength Index at the bottom of the chart is showing that the price is about to enter the oversold area again, and the next time there is a bounce, it is more likely to break through the descending trendline.
Major trendline retest could happen soon
Source: TradingView
The daily chart does rather suggest that the $BTC price is going to come down one last time to retest the major trendline below. This would be only the third retest of what is an incredibly important trendline. If the retest doesn’t happen here, it would likely touch the trendline a bit further along.
At the bottom of the chart, the Stochastic RSI indicators are crossing back up. They may not still be doing so at the end of the week, but this doesn’t really matter as the indicators are quite near the bottom, and they would likely cross back up at some point next week anyway.
Potential bear market - but momentum indicators not in line with this
Source: TradingView
If the $BTC price comes down to retest the major trendline, but then falls through and confirms below, the writing would be on the wall for a bear market. In fact, one can see that the next very strong price structure below is the top of the last bull market at $69,000.
In the bear market of 2022, the price did come all the way back to retest the top of the previous bull market - could this be about to happen once again?
However, in favour of a continuation of the bull market, the 2-week Stochastic RSI indicators are coming back down. They could bottom and cross back up in the next month or so. The weekly indicators are almost at the bottom now. This does not suggest an imminent bear market. Nevertheless, all eyes will be on how the $BTC price reacts to the major trendline.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.