Market Signal Briefing

Dogecoin (DOGE) faced heavy selling pressure in the last session, tumbling 6.7% from $0.1719 to $0.1605 as whales exited positions into market weakness. The breakdown below key $0.17 support marked a clear shift in market control toward the bears, with $0.16 now acting as the next critical battleground for price stability. Trading volume surged roughly 76% above its seven-day average, signaling strong distribution activity rather than emotional retail selling.

The selloff extended ongoing liquidation from large holders rotating out of meme coins amid tightening liquidity across the altcoin market. A massive 1.44 billion DOGE sell wall around $0.1702 rejected early buyer attempts, triggering algorithmic stop losses and accelerating the downward momentum. That level now stands as a key resistance zone, where sellers are likely to defend aggressively until a clear reversal forms. Broader market data shows leverage reduction and capital rotation back into Bitcoin, leaving Dogecoin vulnerable as risk appetite fades.

Price action revealed a steady fade from $0.1719 to $0.1650 before a sharp drop to $0.1600. The largest sell-off — about 59 million DOGE — occurred within minutes late in the session, confirming panic-driven exits. Afterward, trading flattened with minimal recovery, suggesting exhaustion but not accumulation.

Technically, Dogecoin maintains a bearish continuation pattern with lower highs and fading momentum. Immediate support sits near $0.1600, followed by deeper liquidity pockets between $0.1550 and $0.1500. Resistance remains at $0.1630 and the $0.1702–$0.1714 supply zone. Oversold indicators are appearing, yet no strong reversal signals have emerged, implying further drift or grind lower unless a catalyst triggers renewed buying interest. Traders are closely watching if $0.1600 holds or if deeper retracements toward $0.1550 occur amid ongoing whale outflows and macro volatility.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

At the start of November, solana exchange-traded funds (ETFs) attracted significant investor attention, pulling in $70 million in fresh inflows. In stark contrast, Bitcoin and ether ETFs faced substantial withdrawals, with outflows exceeding $320 million.

Chainlink’s native token, LINK, fell sharply on Tuesday, plunging 6% to below $14.50 and breaking key technical support levels, according to CoinDesk data. The decline was fueled by a significant 57.81% surge in trading volume above the seven-day average, signaling intense selling pressure rather than routine market activity. Analysts at CoinDesk Research noted that the move reflected aggressive distribution, suggesting short-term traders are dominating sentiment despite strong fundamentals.

Interestingly, the downturn came even as Chainlink announced major institutional partnerships that would typically boost investor confidence. Swiss banking giant UBS successfully executed the world’s first end-to-end tokenized fund transaction using Chainlink’s Digital Transfer Agent (DTA) standard. Additionally, FTSE Russell revealed plans to bring its Russell 1000, 2000, and 3000 indices onto blockchain rails powered by Chainlink’s DataLink services.

Despite these bullish developments, technical factors overpowered the positive news. LINK decisively broke below the $15.26 support level during morning trading on heavy volume, forming a descending channel that continued throughout the day. In the final trading hour, the token fell further—from $15.22 to $14.70—as over 3.5 million tokens changed hands, confirming a bearish momentum shift in the short term.

Current technical readings point to additional downside risks. The next critical support zone lies between $14.50 and $14.60, with potential weakness extending toward $14.00 before stabilization occurs. While Chainlink’s partnerships underscore growing institutional blockchain adoption, traders should remain cautious. The recent volume spike validates the breakdown move, suggesting short-term pressure could persist even as long-term fundamentals remain strong.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

ZKsync, the Ethereum layer-2 scaling network, is planning a major shift for its native $ZK token — moving it from a simple governance instrument to a utility token with tangible economic value. The new proposal, titled “From Governance to Utility: ZK Token Proposal, Part I,” was unveiled by ZKsync creator Alex Gluchowski and shared with the project’s community earlier this week.

The proposal envisions a system where network activity and enterprise licensing fees directly fuel the $ZK token’s economy. Instead of $ZK being used solely for governance, the token would now be tied to real-world network functions — creating a circular economy that rewards usage, promotes growth, and strengthens community participation.

According to the document, ZKsync’s rapidly expanding ecosystem — which includes modular chains, private “Prividium” networks, and the Elastic chain interoperability layer — demands an evolved token model. “The ZK token began as a tool for governance,” Gluchowski wrote. “Through governance, it can now become the heartbeat of an incorruptible economy.”

Two main revenue streams will power this transformation. The first comes from on-chain interoperability fees paid when users transfer assets or messages across ZKsync’s rollups. The second source will be off-chain enterprise licensing fees from businesses utilizing ZKsync’s tools for compliance, reporting, and infrastructure.

All collected revenues would feed into a governance-controlled system that buys back $ZK tokens from the market. Those repurchased tokens would then be distributed through three key channels — token burning to reduce supply, staking rewards for validators, and ecosystem funding for developers and public goods.

While the community awaits further details on fee structures and buyback schedules, this proposal marks a pivotal evolution for ZKsync, aiming to transform $ZK into a self-sustaining token that drives both network utility and long-term value.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Bitcoin (BTC) briefly dipped below the $100,000 mark on Tuesday across major exchanges like Coinbase, Gemini, and Kraken — its weakest level since late June. The world’s largest cryptocurrency quickly rebounded to around $101,300, yet it remains down over 20% from its record high above $126,000 reached just a month ago. The drop also marks a new low following the massive crypto flash crash on October 10, when Bitcoin plunged from $120,000 to $103,000 in one of the largest liquidation events in crypto history.

Since then, attempts at recovery have faltered as price bounces above $110,000 were met with rapid selloffs. Market analysts point to the U.S. Federal Reserve’s unexpected hawkish stance last week as a key factor behind the current correction. Fed Chair Jerome Powell’s signal that an additional rate cut in December is unlikely has weighed heavily on risk assets, including cryptocurrencies.

Adding to the bearish sentiment, long-term Bitcoin holders are reportedly selling off their holdings as demand from ETF investors and digital asset treasuries (DATs) cools. Paul Howard, director at crypto trading firm Wincent, noted that the market could slip into a bear cycle aligned with Bitcoin’s historic four-year pattern. However, he added that holding above $100,000 may help prevent deeper selloffs.

Despite the short-term turbulence, experts remain optimistic about Bitcoin’s long-term prospects. Gary O’Shea, head of global market insights at Hashdex, emphasized that macroeconomic pressures — from interest rate uncertainty to market valuations — are driving temporary weakness but not diminishing Bitcoin’s investment appeal. He maintains that institutional adoption continues to accelerate, positioning BTC for potential new highs once market conditions stabilize.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Ripple’s U.S. dollar-backed stablecoin, RLUSD, has achieved a major milestone, surpassing $1 billion in market capitalization less than a year after its launch in December 2024. The token, issued by Standard Custody & Trust Company, Ripple’s New York-regulated subsidiary, is fully backed by U.S. dollar reserves and short-term Treasuries and plays a key role in Ripple’s expanding payments and liquidity ecosystem.

According to CoinGecko, RLUSD is now the 10th largest USD stablecoin by market value. While it still trails behind leading competitors such as Tether (USDT) with $183 billion and Circle’s USDC with $76 billion, its rapid ascent signals strong demand and successful adoption within both institutional and retail markets. Current circulation data from RWA.xyz shows approximately $819 million of RLUSD on the Ethereum blockchain and $203 million on the XRP Ledger network.

Ripple President Monica Long told CoinDesk that the company’s payment services have seen significant growth, processing nearly $100 billion in total transaction volume to date. She noted that RLUSD has become Ripple’s primary stablecoin for global payment flows and that the firm has doubled its customer base over the past year while securing over 75 international licenses.

Ripple has also been expanding aggressively through strategic acquisitions, including Hidden Road (Ripple Prime) for $1.25 billion, Rail for $200 million, as well as GTreasury and Palisade to strengthen its stablecoin and treasury infrastructure. Long emphasized that Ripple’s acquisition strategy focuses on accelerating innovation in stablecoin payments and expanding into new financial verticals.

With a robust balance sheet and growing global footprint, Ripple plans to continue scaling RLUSD’s reach across institutional and on-chain payment ecosystems, reinforcing its position as a key player in the digital asset and blockchain payments industry.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Two major asset managers, Bitwise and Grayscale, are moving forward with their XRP and Dogecoin ETFs despite not having received formal approval from the U.S. Securities and Exchange Commission (SEC). The firms recently revealed management fees for their upcoming funds, signaling confidence in their plans even as the SEC remains inactive due to the ongoing government shutdown.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Depository Trust & Clearing Corporation (DTCC) has officially listed nine XRP ETFs, signaling that institutional appetite for Ripple’s native token is accelerating. The listings include both futures-based and spot-based products, suggesting that the first U.S. spot XRP ETFs may debut this month despite ongoing regulatory delays.

Related Reading: Market Maker Balancer Compromised: Key Facts Behind The $128 Million Hack

While a DTCC listing does not automatically mean trading has begun, it represents a key preparatory step toward launch. Futures ETFs, such as UXRP, XRPI, XRPT, and XXRP, are already live, while spot-focused funds like TOXR, XRP, XRPC, and XRPL await the final approval.

Notably, the review process stalled due to the October U.S. government shutdown, which froze more than a dozen altcoin ETF filings, including those tied to Solana, Dogecoin, and Cardano.

However, with Canary Capital removing delaying amendments and setting November 13 as the automatic effective date for its XRP ETF, analysts now expect trading to begin within days.

XRP's price trends to the downside on the daily chart. Source: XRPUSD on Tradingview
Bitwise and Grayscale Fast-Track XRP ETFs Without SEC Approval
Major asset managers Bitwise and Grayscale have confirmed plans to roll out their XRP ETFs under newly adopted SEC listing standards that allow automatic effectiveness after 20 days if no objections are filed.

This means both firms could list their funds without explicit SEC approval, a move that marks a significant regulatory shift in the U.S. Bitwise has set a 0.34% management fee for its XRP ETF, while Grayscale’s proposed fund carries a 0.35% fee, the same rate as its Dogecoin ETF.

Both issuers are replicating their successful Solana ETF strategies, which drew over $56 million in first-day trading volume, signaling robust institutional demand.

According to Nate Geraci, president of NovaDius Wealth Management, “The launch of spot XRP ETFs marks the end of an era of anti-crypto regulation.” If approved, XRP could soon join Bitcoin, Ethereum, and Solana as a core asset class in the ETF landscape.

Analysts Eye a Breakout as XRP Holds Above Key Support
Despite short-term weakness, XRP continues to hold above the $2.25 support zone, a level analysts view as pivotal for the next bullish leg. Market watcher Dominus recently predicted XRP will “print the largest green candle in crypto history,” citing the convergence of ETF-driven demand, institutional adoption, and on-chain strength.

Meanwhile, Ripple’s RLUSD stablecoin has surpassed $1 billion in valuation, further solidifying the company’s ecosystem strength.

Related Reading: Bitcoin & Ethereum Treasuries Surge: Strategy, BitMine Reveal Fresh Buys

If the XRP ETFs begin trading mid-November as expected, the combination of institutional inflows and renewed market optimism could ignite one of the strongest rallies in XRP’s history, potentially validating the long-awaited bullish breakout.

Cover image from ChatGPT, XRPUSD chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Franklin Templeton has updated its S-1 filing for a spot XRP ETF, signaling plans to launch soon.

Bitcoin's first negative October since 2018 has left traders uneasy, but market experts believe the correction may be more of a breather than a breakdown. Despite recent volatility, analysts maintain that Bitcoin's long-term trajectory remains firmly bullish, with expectations of a recovery phase building through November and potential gains extending into the year's final quarter.

Journalist

Posted: November 5, 2025

Key Takeaways
Why did TON slide today?
Nasdaq’s warning triggered panic selling. Spot Taker CVD turned red and Netflow hit $2.47 million, confirming heavier exchange inflows.

What levels matter now for Toncoin?
A rebound above $2 could lift TON toward $2.30, while $1.80 remains critical support.

Like most large-cap tokens in 2025, Toncoin [TON] has recorded significant demand from institutional investors. One of these institutional investors is TON Strategy Co., which has turned to aggressive accumulation of Toncoin as a treasury asset. 

Nasdaq issues a warning
According to Nasdaq, TON Strategy Co. failed to obtain shareholder approval for its Toncoin purchases and a related private stock sale. Nasdaq said the firm raised funds via a PIPE before buying Toncoin.

Through PIPEs, companies can sell shares privately to institutional investors to quickly raise funds. 

Through this approach, TON Strategy sold $558 million in shares in August 2025 to purchase Toncoin for the same amount. However, the firm failed to get shareholder approval for either a PIPE or the purchase of Ton tokens worth $273 million. 

Despite these wrongdoings, Nasdaq determined that TON Strategy did not deliberately intend to avoid compliance. 

Therefore, Nasdaq opted to issue a warning letter rather than delist the company, as is the norm. 

Sell pressure builds on-chain
After the notice, traders turned defensive and sold into weakness. Spot Taker CVD flipped red at press time, extending a week of seller dominance.

Source: CryptoQuant

By contrast, Spot Netflow turned positive, signaling tokens moved to exchanges. At press time, Netflow read $2.47 million.

Often, positive Netflow suggested holders were prepared to sell. In fact, past spikes accelerated downside moves.

Source: CoinGlass

Toncoin: price reaction and levels
Unsurprisingly, after Nasdaq warned TON Strategy, investors and holders panicked, causing significant pressure on TON.

This sell-off dragged the token 9.76% lower, breaking $2.00 and reaching $1.918, signaling clear bearish dominance.

Source: TradingView

On top of that, RSI dropped to 33, close to oversold territory, while Sequential Pattern Strength slipped to –13, confirming continued seller control.

With indicators flashing weakness, Toncoin may face further downside. If conditions persist, the price could test $1.80, with $1.60 acting as major support.

Even so, a rebound above $2.00 could open the path toward $2.30, should bulls regain momentum.

Q3: 2025-11-04 Earnings SummaryEPS of -$0.82 misses by $0.09

 |

Revenue of

$51.30M

(54.28% Y/Y)

beats by $590.07K

Rhythm Pharmaceuticals, Inc. (RYTM) Q3 2025 Earnings Call November 4, 2025 8:00 AM EST

Company Participants

David Connolly - Head of Investor Relations & Corporate Communications
David Meeker - Chairman, President & CEO
Jennifer Chien - Executive VP & Head of North America
Yann Mazabraud - Executive VP & Head of International
Hunter Smith - CFO & Treasurer

Conference Call Participants

Michael Ulz - Morgan Stanley, Research Division
Philip Nadeau - TD Cowen, Research Division
Derek Archila - Wells Fargo Securities, LLC, Research Division
Angela Qian
Faisal Khurshid - Leerink Partners LLC, Research Division
Erik Wong
Julian Pino
Evan Wang
Georgia Ban
Raghuram Selvaraju - H.C. Wainwright & Co, LLC, Research Division
Jonathan Wolleben - Citizens JMP Securities, LLC, Research Division

Presentation

Operator

"

David Connolly
Head of Investor Relations & Corporate Communications

"

David Meeker
Chairman, President & CEO

"

Jennifer Chien
Executive VP & Head of North America

"

Yann Mazabraud
Executive VP & Head of International

"

Hunter Smith
CFO & Treasurer

"

Michael Ulz
Morgan Stanley, Research Division

" Morgan Stanley, Research Division

Philip Nadeau
TD Cowen, Research Division

" TD Cowen, Research Division

Derek Archila
Wells Fargo Securities, LLC, Research Division

" Wells Fargo Securities, LLC, Research Division

Angela Qian

" Canaccord Genuity, Research Division

Faisal Khurshid
Leerink Partners LLC, Research Division

" Leerink Partners LLC, Research Division

Erik Wong

" Goldman Sachs, Research Division

Julian Pino

" Stifel, Nicolaus & Company, Incorporated, Research Division

Evan Wang

" Guggenheim Securities, LLC, Research Division

Georgia Ban

" Jefferies LLC, Research Division

Raghuram Selvaraju
H.C. Wainwright & Co, LLC, Research Division

" H.C. Wainwright & Co, LLC, Research Division

Jonathan Wolleben
Citizens JMP Securities, LLC, Research Division

" Citizens JMP Securities, LLC, Research Division

Operator

Good day, and thank you for standing by. Welcome to the Rhythm Pharmaceuticals Q3 2025 Earnings Conference Call. [Operator Instructions] Please be

Recommended For You

Trex Company, Inc. (TREX) Q3 2025 Earnings Call November 4, 2025 4:30 PM EST

Company Participants

Casey Kotary
Amy Fernandez - Senior VP, Chief Legal Officer, Secretary & Chief Sustainability Officer
Bryan Fairbanks - President, CEO & Director
Prithvi Gandhi - Senior VP & CFO

Conference Call Participants

Ryan Merkel - William Blair & Company L.L.C., Research Division
Collin Verron - Deutsche Bank AG, Research Division
Susan Maklari - Goldman Sachs Group, Inc., Research Division
Rafe Jadrosich - BofA Securities, Research Division
Keith Hughes - Truist Securities, Inc., Research Division
Ketan Mamtora - BMO Capital Markets Equity Research
Timothy Wojs - Robert W. Baird & Co. Incorporated, Research Division
Michael Rehaut - JPMorgan Chase & Co, Research Division
John Lovallo - UBS Investment Bank, Research Division
Trey Grooms - Stephens Inc., Research Division
Jeffrey Stevenson - Loop Capital Markets LLC, Research Division
Trevor Allinson - Wolfe Research, LLC
Anthony Pettinari - Citigroup Inc., Research Division
Philip Ng - Jefferies LLC, Research Division
Kurt Yinger - D.A. Davidson & Co., Research Division
Matthew Bouley - Barclays Bank PLC, Research Division

Presentation

Operator

Good day, and welcome to the Trex Company Third Quarter 2025 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Casey Kotary. Please go ahead.

Casey Kotary

Thank you, everyone, for joining us today. With us on the call are Bryan Fairbanks, President and Chief Executive Officer; and Prith Gandhi, Senior Vice President and Chief Financial Officer. Joining Bryan and Prith is Amy Fernandez, Senior Vice President, Chief Legal Officer and Secretary; as well as other members of Trex management.

The company issued a press release today after market close containing financial results for the third quarter of 2025. This release is available on the company's website. This conference call is also being webcast and will be available on the Investor Relations page

Recommended For You

Q3: 2025-11-04 Earnings SummaryEPS of $2.31 beats by $0.12

 |

Revenue of

$2.06B

(26.41% Y/Y)

beats by $158.13M

Colliers International Group Inc. (CIGI:CA) Q3 2025 Earnings Call November 4, 2025 11:00 AM EST

Company Participants

Jay Hennick - Global Chairman & CEO
Christian Mayer - Chief Financial Officer

Conference Call Participants

Stephen MacLeod - BMO Capital Markets Equity Research
Anthony Paolone - JPMorgan Chase & Co, Research Division
Himanshu Gupta - Scotiabank Global Banking and Markets, Research Division
Julien Blouin - Goldman Sachs Group, Inc., Research Division
Erin Kyle - CIBC Capital Markets, Research Division
Mitch Germain - Citizens JMP Securities, LLC, Research Division
Daryl Young - Stifel Nicolaus Canada Inc., Research Division
Khing Shan - RBC Capital Markets, Research Division
Maxim Sytchev - National Bank Financial, Inc., Research Division
Frederic Bastien - Raymond James Ltd., Research Division

Presentation

Operator

Welcome to the Colliers International third quarter investors conference call. Today's call is being recorded.

Legal counsel requires us to advise that the discussion scheduled to take place today may contain forward-looking statements that involve known and unknown risks and uncertainties. Actual results may be materially different from any future results, performance, or achievements contemplated in the forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the company's annual information form as filed with the Canadian Securities Administrators and in the company's annual report on Form 40-F as filed with the U.S. Securities and Exchange Commission.

As a reminder, today's call is being recorded. Today is Tuesday, November 4, 2025. And at this time, for opening remarks and introduction, I would like to turn the call over to the Global Chairman and Chief Executive Officer, Mr. Jay Hennick. Please go ahead, sir.

Jay Hennick
Global Chairman & CEO

Thank you, operator. Good morning, and thank you for joining us for the third quarter conference call. As the operator mentioned, I'm Jay Hennick, Chairman and CEO of Colliers. And with

Recommended For You

Axon Enterprise, Inc. (AXON) Q3 2025 Earnings Call November 4, 2025 5:00 PM EST

Company Participants

Patrick Smith - Founder, CEO & Director
Joshua Isner - President
Brittany Bagley - COO & CFO

Conference Call Participants

George Notter - Wolfe Research, LLC
Jeremy Hamblin - Craig-Hallum Capital Group LLC, Research Division
Andrew Sherman - TD Cowen, Research Division
James Fish - Piper Sandler & Co., Research Division
Ioannis Samoilis - Robert W. Baird & Co. Incorporated, Research Division
Trevor Walsh - Citizens JMP Securities, LLC, Research Division
Andrew Spinola - UBS Investment Bank, Research Division
Jordan Lyonnais - BofA Securities, Research Division
Joshua Reilly - Needham & Company, LLC, Research Division

Presentation

Operator

Hi, everyone, and thank you for joining Axon's executive team today. We hope you've had a chance to read our shareholder letter released after the market closed, which you can find at investor.axon.com. Our remarks today are meant to build upon that letter. During this call, we will discuss our business outlook and make forward-looking statements. These comments are based on our expectations as of today and are not guarantees of future performance. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially as discussed in our SEC filings. We'll also discuss certain non-GAAP financial measures. Reconciliations to non-GAAP are included in our shareholder letter and available on our Investor Relations website. With that, before I turn it over to Rick, we have a quick video to show you. It shows a little bit about our vision for Axon 911. Let's pull it up.

[Presentation]

Patrick Smith
Founder, CEO & Director

Thanks, Erik, and great job to our team who put that video together to help share some of the narrative of where we're going next as we extend the Axon ecosystem. So I'd like to welcome everybody to our Third

Recommended For You

NEW YORK--(BUSINESS WIRE)--The Estée Lauder Companies Inc. (NYSE: EL) today announces the pricing of the previously announced registered public offering (the “Offering”) of the Company’s Class A Common Stock, par value $.01 per share, by trusts affiliated with descendants of Leonard A. Lauder (the “Selling Stockholders”) at a price to the public of $90 per share.

The Selling Stockholders will receive all of the proceeds from the Offering. The Company is not selling any shares of Class A Common Stock in the Offering and will not receive any proceeds from the Offering. The Offering is expected to close on November 6, 2025, subject to the satisfaction of customary closing conditions. The Selling Stockholders intend to use the proceeds of the Offering to assist with the settlement of Leonard A. Lauder’s estate, including to satisfy certain estate obligations such as estate taxes, debts and administration expenses.

Based on shares outstanding as of October 23, 2025, following completion of the offering, members of the Lauder family will beneficially own, directly or indirectly, 82% of the outstanding voting power of the Company’s Common Stock. The Selling Stockholders and LAL Family Partners, L.P., an entity beneficially owned by descendants of Leonard A. Lauder, will be subject to a 90-day lock-up agreement with the underwriter.

J.P. Morgan Securities LLC is acting as the sole underwriter of the Offering.

The Company has filed an automatically effective shelf registration statement on Form S-3 (including a prospectus) with the Securities and Exchange Commission (the “SEC”) for the Offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the accompanying prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and the Offering. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement once available, may be obtained for free on the SEC’s website at www.sec.gov or by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email: [email protected] and [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers and sellers of quality skin care, makeup, fragrance and hair care products, and is a steward of luxury and prestige brands globally. The Company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, the DECIEM family of brands, including The Ordinary and NIOD, and BALMAIN Beauty.

ELC-F

More News From The Estée Lauder Companies Inc.

Oil fell in the morning Asian session amid oversupply prospects.

, /PRNewswire/ -- Zepp Health Corporation ("Zepp" or the "Company") (NYSE: ZEPP) today announced its unaudited financial results for the third quarter of 2025.

Third Quarter 2025 Financial and Operating Highlights:

Revenue reached US$75.8 million, representing 78.5% year-over-year growth, meeting the upper end of our guidance range.
GAAP and adjusted operating result[1] was loss of US$0.9 million and income of US$0.4 million, compared with loss of US$12.5 million and US$11.3 million in the third quarter of 2024. We achieved adjusted operating income breakeven, which marks a key milestone on our path to sustained profitability.
As of September 30, 2025, cash and cash equivalents and restricted cash was US$102.6 million, compared with US$95.3 million of cash balance as of June 30, 2025. We expect cash balance to further grow in the fourth quarter of 2025.
For the fourth quarter of 2025, management currently expects net revenues to be between US$82.0 million and US$86.0 million, which would represent a year-over-year increase of approximately 38% to 45%.
New product debut: Amazfit T-Rex 3 pro, available in 48mm and 44mm sizes, features a 1.5-inch ultra-bright AMOLED display with up to 3,000-nits of peak brightness, protected by sapphire glass and framed by a titanium bezel. It offers professional outdoor navigation with full-color offline maps and route planning, supports EN13319-certified recreational scuba diving down to 45 meters, and includes a dual-color flashlight, speaker, and microphone for versatile outdoor utility.
Further expansion of our Amazfit Athletes team: We are pleased to welcome elite trail runners Ruth Croft and Rosa Lara Feliu, as well as marathoner Ota Aoi, Amazfit's first Japanese brand ambassador, among others, to our growing athletes' family.

Mr. Wang "Wayne" Huang, Chairman and CEO of Zepp Health, commented, "We are pleased to report another exceptional performance for the third quarter of 2025, a result that underscores the ongoing effectiveness of our strategic brand and product evolution.

Our diversified product portfolio saw strong demand, driving a 78.5% year-over-year revenue increase. In addition to this progress, we achieved GAAP operating loss significantly narrowed and adjusted operating income breakeven in the quarter. This quarter's strong results were further fuelled by our well-executed, multi-tier product strategy, which drove consistent gross margin growth quarter-over-quarter.

The flagship Amazfit T-Rex 3 Pro, lunched in September, was well received by users and the endurance-outdoor community, with enhanced durability, advanced navigation and outdoor safety features setting new premium outdoor benchmarks. Our previously-launched Balance 2 and Helio Strap continued performing well, offering advanced analytics and improved usability for daily training. Entry-level lines maintained steady sales across key global channels, underscoring Amazfit's strong positioning across consumer segments.

Beyond hardware, we continued strengthening our software ecosystem. Building on Zepp OS 5.0, we enhanced AI-driven training insights, expanded integration with Strava, TrainingPeaks and more, and advanced women's health offerings by integrating Wild.AI's core assets—a pioneering wellness platform using hormone-based analytics to optimize performance, recovery and nutrition. These enable Amazfit to deliver more personalized, physiology-aware coaching while remaining compatible with leading third-party wearables.

We also further developed our Amazfit Athletes team and global community presence. During the quarter, we welcomed, among others, elite trail runners Ruth Croft, recent UTMB champion and Rosa Lara Feliu to our brand ambassador team, along with marathoner Ota Aoi, our first Japanese brand ambassador. They bring authentic athlete perspectives to our product development and serve as powerful voices in connecting Amazfit with sports communities worldwide. Our ongoing collaborations with HYROX continued to elevate brand visibility, most recently through Amazfit's participation at HYROX Beijing, further strengthening engagement with local fitness communities. We've also expanded our Amazfit Hyrox Athletes —beyond Hunter Mclntyre, we've also added Rich Ryan, Joanna Wietrzyk, Emilie Dahmen, and Linda Meier to the team.

We are excited to enter the fourth quarter of 2025 with strong momentum and clear growth drivers across our diverse product lines. We stay focused on long-term shareholder value and empowering users' well-being through sports technology."

Mr. Leon Deng, Zepp's Chief Financial Officer, added, "In addition to the strong revenue growth, our gross margin expanded to 38.2%, a 2.0% improvement compared to the second quarter of 2025. This growth was fueled by a more favorable product mix and the success of our new product launches in the second and third quarters. While partially offset by the discounting during the Amazon Prime Day event, we remain on track with our margin-enhancement efforts that began in late 2023.

Our total GAAP operating expenses amounted to US$29.8 million, while adjusted operating expenses[2] stood at US$28.6 million, which represents 37.7% sales, compared to 67.3% in the third quarter of 2024 and 44.4% in the second quarter of 2025. We continued to manage costs effectively while making key investments in R&D and sales and marketing to support innovation and enhance brand visibility.

As a result of higher sales, improved gross margins, and disciplined cost control, GAAP operating loss narrowed significantly and was US$0.9 million in the third quarter of 2025, compared with US$12.5 million in the same period of 2024. We reached adjusted operating income breakeven during the quarter, compared to adjusted operating loss of US$11.3 million in the same period of last year and adjusted operating loss of US$4.9 million in the second quarter of 2025—a significant step toward achieving sustained profitability.

In addition, we ended the quarter with US$102.6 million in cash and with a stable capital structure. Cash balance (including restricted cash) increased by US$7.2 million, compared with US$95.3 million at the end of second quarter of 2025, and we expect such trend to continue into the fourth quarter. Inventory levels increased slightly during the quarter as the company strategically built up stock in key product lines to prepare for upcoming product launches and the fourth quarter consumer electronics peak season. Since the beginning of 2023, we have proactively reduced our short and long-term debt, lowering our total loan balance by US$64.5 million as of the end of the third quarter of 2025. As our operating cash flow continues to strengthen, we remain committed to further optimizing the capital structure. Moreover, our share repurchase program will proceed in 2026, underscoring our confidence in Zepp Health's long-term growth and our commitment to delivering shareholder value.

For the fourth quarter of 2025, we expect revenue in the range of US$82.0 million to US$86.0 million, representing an increase of 38% to 45% year-over-year. This forecast reflects our strong execution, resilient operations, and continued profitability improvement as we enter the next phase of Zepp Health's growth journey."

[1] Adjusted operating income/(loss) represents operating income/(loss) excluding: (i) share-based compensation expenses and (ii)
amortization of intangible assets resulting from acquisitions and business cooperation agreements. See "Reconciliation of GAAP
and non-GAAP results" at the end of this press release.

[2] Adjusted operating expenses represent operating expenses excluding (i) share-based compensation expenses and (ii)
amortization of intangible assets resulting from acquisitions and business cooperation agreements. See "Reconciliation of GAAP
and non-GAAP results" at the end of this press release.

Third Quarter of 202 5 Financial Results

Revenues

Revenues for the third quarter of 2025 reached US$75.8 million, an increase by 78.5% and 27.6% from the third quarter of 2024 and second quarter of 2025, respectively. The revenue growth was mainly driven by new product launches, especially the T-Rex 3 pro in the third quarter of 2025, and was further supported by product launches in the second quarter of 2025, such as Amazfit Balance 2 and Amazfit Helio Strap, as well as the popularity of our entry-level products, such as Amazfit Bip 6 and Active 2 ranges. Revenue increase was partially offset by some supply constraints on Amazfit Helio Strap, as well as an end-of-quarter typhoon, which delayed some of the product sales in the third quarter of 2025.

Gross Margin

Gross margin in the third quarter of 2025 was 38.2%, representing a 2.4% decrease compared to 40.6% in the third quarter of 2024. The year-over-year decline was primarily due to lower gross margins related to our entry-level products. However, the T-Rex product line showed strong margin performance, as the launch of the T-Rex 3 Pro in September helped to offset the impact of Prime Day discounts on the T-Rex 3. Sequentially, gross margin improved by 2.0% compared to the second quarter of 2025, driven by a higher contribution from new products and a more favourable product mix. This was partially offset by promotions on entry-level models, as well as the impact of front-loaded shipments ahead of U.S. tariffs on China-manufactured goods. We remain on track with our margin-expansion strategy initiated in the second half of 2023 and expect further progress as new product launches gain scale.

Research and Development Expenses

Research and development expenses in the third quarter of 2025 were US$10.8 million, which remained stable compared with US$10.9 million in the same period of 2024, and decreased by 3.2% compared with US$11.2 million in the second quarter of 2025. We continued to invest in new technologies, including AI, to maintain our competitive edge against our peers. Furthermore, our pipeline is robust with a series of cutting-edge products set to launch. At the same time, we focused on refined research and development approaches, as we consistently evaluated resource efficiency to optimize return on investment and productivity.

Selling and Marketing Expenses

Selling and marketing expenses in the third quarter of 2025 were US$12.0 million, an increase by 0.9% year-over-year, and remained flat compared with US$12.1 million in the second quarter of 2025. The year-over-year increase was primarily due to front loading of certain expenses to build brand recognition and acquire market share. We continued to invest in selling and marketing activities and expand our Amazfit Athletes team to build brand recognition. At the same time, we consistently pushed on retail profitability and channel mix improvement, which included meticulous refinement of our retail channels and strategic staffing arrangements across sales regions. We are committed to investing efficiently in marketing and branding to ensure our sustainable growth.

General and Administrative Expenses

General and administrative expenses were US$7.0 million in the third quarter of 2025, flat year-over-year, and with a modest sequential increase of $2.6 million from the second quarter of 2025, primarily reflecting normal foreign exchange fluctuations. Excluding these effects, general and administrative expenses have remained stable or slightly lower over the past three quarters as we continued to streamline overhead, maintaining disciplined cost control while improving operating efficiency.

Operating Expenses

Total operating expenses for the third quarter of 2025 were US$29.8 million, which remained flat year-over-year and increased by 8.0% quarter-over-quarter. Adjusted operating expenses, which exclude share-based compensation and amortization of intangible assets resulting from acquisitions and business cooperation agreements, were US$28.6 million, remaining flat compared to the same period of 2024. Adjusted expenses as a percentage of sales were 37.7% in the third quarter of 2025, marking a significant improvement from 67.3% in the third quarter of 2024 and 44.4% in the second quarter of 2025. We will maintain our cost-conscious approach and remain committed to investing in R&D and marketing activities to ensure our long-term competitiveness.

Operating Income/(Loss )

GAAP and adjusted operating result was loss of US$0.9 million and income of US$0.4 million, compared with loss of US$12.5 million and US$11.3 million in the third quarter of 2024. We achieved adjusted operating result breakeven, driven by higher sales, improved product mix, and strict cost control.

Net Income/(Loss )

Net loss attributable to Zepp Health Corporation for the third quarter of 2025 was US$1.6 million, compared to net loss of US$13.3 million in the third quarter of 2024. Adjusted net loss[3] attributable to Zepp Health Corporation was US$0.7 million, compared to adjusted net loss of US$11.8 million in the third quarter of 2024.  

[3] Adjusted net income/(loss) attributable to Zepp Health Corporation represents net income/(loss) excluding (i) share-based
compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements,
(iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v)
income/(loss) from equity method investments, (vi) investment income/(loss) and (vii) tax effects of the above non-GAAP
adjustments. See "Reconciliation of GAAP and non-GAAP results" at the end of this press release.

Liquidity and Capital Resources

As of September 30, 2025, the Company had cash balance(including restricted cash) increased sequentially, and end of balance as of US$102.6 million, compared with US$95.3 million of cash balance as of June 30, 2025. This cash position provides ample runway for the Company to invest and seize potential market opportunities. In the fourth quarter of 2025, we expect our overall cash position to grow from its current level.

The Company recorded inventory of US$87.7 million as of September 30, 2025. Inventory increased as the Company strategically built up stock in key product lines to prepare for the upcoming product launches, and the fourth quarter consumer electronics peak season. The Company improved its management of accounts receivable collections and accounts payable payment terms. The Company will continue to manage working capital closely.

Long-term and short-term debt levels remained stable in the first three quarters of 2025 following the restructuring we completed during the first quarter. The Company refinanced a significant portion of its short-term debt into long-term instruments with a more favourable interest rate and a two-year duration, which significantly reduced near-term liquidity pressure and enhanced overall capital structure. Since the beginning of 2023, the Company has cumulatively retired $64.5 million of debt, and will continue to optimize the capital structure for the Company.

Share Repurchase Program Update

The Company announced in its third quarter 2021 earnings release that the board had authorized a share repurchase program of up to US$20 million through November 2022. On November 21, 2022, the board authorized a 12-month extension of the Company's share repurchase program. On November 20, 2023, the board further authorized the Company to extend its share repurchase program for another 12 months. On November 18, 2024, the board further authorized the Company to extend its share repurchase program for another 24 months. Pursuant to the extended share repurchase program, the Company may repurchase its shares in the form of ADSs and/or ordinary shares through November 2026 with an aggregate value equal to the remaining balance under the share repurchase program. As of September 30, 2025, the Company had used US$16.1 million to repurchase approximately 2.2 million ADSs. The Company expects to fund the repurchases under the extended share repurchase program out of its existing cash balance.

Recent Development

The board of the Company recently approved the amendment and restatement of its 2018 Share Incentive Plan to extend the term of the plan and the term of the plan's evergreen provision by seven years. No other substantive amendment to the plan was made.

Outlook

For the fourth quarter of 2025, the Company's management currently expects net revenues to be between US$82.0 million and US$86.0 million, which would represent an increase of approximately 38% to 45% from US$59.5 million in the fourth quarter of 2024.

This outlook is based on current market conditions and reflects the Company's current and preliminary estimates of market, operating conditions and customer demand, which are all subject to change.

Conference Call

The Company's management team will hold a conference call at 8:30 p.m. Eastern Time on Tuesday, November 4, 2025 to discuss financial results and answer questions from investors and analysts. Listeners may access the call by dialing:

US (Toll Free):

+1-888-346-8982

International:

+1-412-902-4272

Mainland China (Toll Free):

400-120-1203

Hong Kong (Toll Free):

800-905-945

Hong Kong:

+852-3018-4992

Participants should dial in at least 10 minutes before the scheduled start time and ask to be connected to the call for "Zepp Health Corporation".

Additionally, a live and archived webcast of the conference call will be available at http://ir.zepp.com.

A telephone replay will be available one hour after the call until November 11, 2025 by dialing:

US Toll Free:

+1-855-669-9658

International:

+1-412-317-0088

Replay Passcode:

4560143

A bout Zepp Health Corporation

Zepp Health Corporation (NYSE: ZEPP) is a global smart wearable and health technology leader, empowering users to live their healthiest lives by optimizing their health, fitness, and wellness journeys through its leading consumer brands, Amazfit, Zepp Clarity and Zepp Aura. Powered by its proprietary Zepp Digital Management Platform, which includes the Zepp OS, AI chips, biometric sensors and data algorithms, Zepp delivers cloud-based 24/7 actionable insights and guidance to help users attain their wellness goals. To date, Zepp has shipped over 200 million units, and its products are available in more than 90 countries and regions. Founded in 2013 as Huami Corp., the Company changed its name to Zepp Health Corporation in February 2021 to emphasize its health focus with a name that resonates across languages and cultures globally. Zepp has team members and offices across globe, especially in Europe and USA regions.

Use of Non-GAAP Measures

We use adjusted net income/(loss), a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. Adjusted operating expenses represent operating expenses excluding (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. Adjusted operating income/(loss) represents operating income/(loss) excluding: (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. Adjusted EBIT represents net income/(loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investments, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, (vi) investment income/(loss), (vii) income tax (benefit)/expense, and (viii) interest income and interest expense. Adjusted net income/(loss) attributable to Zepp Health Corporation is a non-GAAP measure, which excludes (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investments, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, (vi) investment income/(loss), and (vii) tax effects of the above non-GAAP adjustments, and is used as the numerator in computation of adjusted net income/(loss) per share and per ADS attributable to Zepp Health Corporation.

We believe that adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in net income/(loss) and net income/(loss) attributable to Zepp Health Corporation. We believe adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation provides useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

Adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation, should not be considered in isolation or construed as an alternative to net income/(loss), basic and diluted net income/(loss) per share and per ADS attributable to Zepp Health Corporation or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted EBIT and adjusted net income/(loss) attributable to ordinary shareholders, presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the recognition of the Company's Amazfit-branded products; the Company's growth strategies; trends and competition in global wearable technology market; changes in the Company's revenues and certain cost or expense accounting policies; governmental policies relating to the Company's industry and general economic conditions around the globe. Further information regarding these and other risks is included in the Company's filings with the United States Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Zepp Health Corporation
Grace Yujia Zhang
Email: [email protected] 

Piacente Financial Communications
Tel: +86-10-6508-0677
Email: [email protected]

Zepp Health Corporation

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)

As of December 31,

As of September  3 0 ,

2024

2025

US$

US$

Assets

Current assets:

Cash and cash equivalents

91,069

61,722

Restricted cash

19,666

40,834

Accounts receivable, net

62,965

82,767

Amounts due from related parties

2,663

4,426

Inventories, net

56,789

87,676

Short-term investments

997

1,022

Prepaid expenses and other current assets

17,415

33,318

Total current assets

251,564

311,765

Property, plant and equipment, net

6,898

5,834

Intangible asset, net

7,091

13,730

Goodwill

9,581

9,581

Long-term investments

225,910

219,835

Deferred tax assets

17,465

17,695

Amount due from related parties, non-current

2,019

985

Other non-current assets

4,607

4,867

Operating lease right-of-use assets

3,458

2,135

Total assets

528,593

586,427

Zepp Health Corporation

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED

(Amounts in thousands of U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)

As of December 31, 

As of September  3 0 ,

2024

2025

US$

US$

Liabilities

Current liabilities:

Accounts payable

51,077

105,070

Advance from customers

197

278

Amount due to related parties

2,477

1,733

Accrued expenses and other current liabilities

37,576

38,923

Income tax payables

508

443

Notes payable

61,679

100,048

Short-term bank borrowings

41,853

39,434

Total current liabilities

195,367

285,929

Deferred tax liabilities

3,117

3,171

Long-term borrowings

75,241

69,515

Other non-current liabilities

133

171

Non-current operating lease liabilities

2,007

1,301

Total liabilities

275,865

360,087

Zepp Health Corporation

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED

(Amounts in thousands of U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)

As of December 31,

As of September  3 0 ,

2024

2025

US$

US$

Equity

Ordinary shares

26

26

Additional paid-in capital

278,116

281,334

Treasury stock

(14,993)

(16,072)

Accumulated retained earnings/(loss)

28,618

(479)

Accumulated other comprehensive loss

(40,178)

(38,469)

Total Zepp Health Corporation shareholders' equity

251,589

226,340

Noncontrolling interest

1,139

-

Total equity

252,728

226,340

Total liabilities and equity

528,593

586,427

Zepp Health Corporation

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands of U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)

For the Three Months Ended  September 30 ,

2024

2025

US$

US$

Revenues

42,462

75,789

Cost of revenues

(25,218)

(46,866)

Gross profit

17,244

28,923

Operating expenses:

Selling and marketing

(11,896)

(12,009)

General and administrative

(7,026)

(6,996)

Research and development

(10,859)

(10,802)

Total operating expenses

(29,781)

(29,807)

Operating loss

(12,537)

(884)

Other income and expenses:

Interest income

941

328

Interest expense

(1,289)

(1,478)

Other (expense)/income, net

(84)

318

Investment loss

-

(100)

Gain from fair value change of long-term investments

175

556

L oss before income tax and loss  from equity method investments

(12,794)

(1,260)

Income tax expenses

-

(117)

L oss before loss from equity method investments

(12,794)

(1,377)

Net loss from equity method investments

(465)

(239)

Net loss

(13,259)

(1,616)

Less: Net loss attributable to noncontrolling interest

(8)

-

Net loss attributable to Zepp Health Corporation

(13,251)

(1,616)

Basic and diluted net loss per share attributable to Zepp Health

Corporation 

(0.05)

(0.01)

Basic and diluted net loss per ADS (16 ordinary shares equal to 1 

ADS) 

(0.82)

(0.10)

Weighted average number of shares used in computing  basic and

diluted  net loss per share

258,386,436

253,097,491

Zepp Health Corporation

Reconciliation of GAAP and Non-GAAP Results

(Amounts in thousands of U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)

For the Three Months Ended September  3 0 ,

2024

2025

US$

US$

Total operating expenses

(29,781)

(29,807)

Share-based compensation expenses

638

765

Amortization of intangible assets resulting from acquisitions

and business cooperation agreements

568

481

Total adjusted operating expenses

(28,575)

(28,561)

Operating loss

(12,537)

(884)

Share-based compensation expenses

638

765

Amortization of intangible assets resulting from acquisitions

and business cooperation agreements

568

481

Adjusted operating  ( loss)/income

(11,331)

362

Net  loss

(13,259)

(1,616)

Share-based compensation expenses

638

765

Amortization of intangible assets resulting from acquisitions

and business cooperation agreements

568

481

Gain from fair value change of long-term investments

(175)

(556)

Loss from equity method investments

465

239

Investment loss

-

100

Income tax expenses

-

117

Interest income

(941)

(328)

Interest expense

1,289

1,478

Adjusted EBIT[4]

(11,415)

680

Net loss attributable to Zepp Health Corporation

(13,251)

(1,616)

Share-based compensation expenses

638

765

Amortization of intangible assets resulting from acquisitions

and business cooperation agreements

568

481

Gain from fair value change of long-term investments

(175)

(556)

Loss from equity method investments

465

239

Investment loss

-

100

Tax effects on non-GAAP adjustments

(92)

(82)

Adjusted net loss attributable to Zepp Health Corporation

(11,847)

(669)

Adjusted basic and diluted net loss per share attributable

to Zepp Health Corporation[5]

(0.05)

(0.00)

Adjusted basic and diluted net loss per ADS (16 ordinary

shares equal to 1 ADS) 

(0.73)

(0.04)

Weighted average number of shares used in computing

adjusted basic and diluted net loss per share

258,386,436

253,097,491

Share-based compensation expenses included are follows:

Selling and marketing

31

86

General and administrative

340

529

Research and development

267

150

Total

638

765

[4] Adjusted EBIT is a non-GAAP financial measure, which is defined as net loss, excluding (i) share-based compensation
expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss)
from fair value change of long-term investments, (iv) impairment loss from long-term investments, (v) income/(loss) from equity
method investments, (vi) investment income/(loss), (vii) income tax (benefit)/ expense, and (viii) interest income and interest
expense.

[5] Adjusted diluted net income/(loss) is the abbreviation of adjusted net (loss)/income attributable to Zepp Health Corporation,
which is a non-GAAP measure and excludes (i) share-based compensation expenses, (ii) amortization of intangible assets
resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investments,
(iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, (vi) investment
income/(loss) and (vii) tax effects of the above non-GAAP adjustments, and is used as the numerator in computation of adjusted
basic and diluted net loss per ADS attributable to Zepp Health Corporation.

Zepp Health Corporation

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands of U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)

For the Nine  Months Ended  September 30 ,

2024

2025

US$

US$

Revenues

123,061

173,732

Cost of revenues

(74,756)

(108,957)

Gross profit

48,305

64,775

Operating expenses:

Selling and marketing

(33,220)

(37,900)

General and administrative

(18,299)

(17,898)

Research and development

(35,098)

(34,336)

Total operating expenses

(86,617)

(90,134)

Operating loss

(38,312)

(25,359)

Other income and expenses:

Interest income

2,901

1,204

Interest expense

(4,105)

(4,081)

Other income, net

111

378

Investment loss

-

(100)

Gain from fair value change of long-term investments

1,978

434

L oss before income tax and loss  from equity method investments

(37,427)

(27,524)

Income tax expenses

(119)

(469)

L oss before loss from equity method investments

(37,546)

(27,993)

Net loss from equity method investments

(1,361)

(1,104)

Net loss

(38,907)

(29,097)

Less: Net loss attributable to noncontrolling interest

(50)

-

Net loss attributable to Zepp Health Corporation

(38,857)

(29,097)

Basic and diluted net loss per share attributable to Zepp Health

Corporation 

(0.15)

(0.11)

Basic and diluted net loss per ADS (16 ordinary shares equal to 1

ADS) 

(2.40)

(1.83)

Weighted average number of shares used in computing  basic and

diluted  net loss per share

259,433,512

254,405,624

Zepp Health Corporation

Reconciliation of GAAP and Non-GAAP Results

(Amounts in thousands of U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)

For the Nine  Months Ended September  3 0 ,

2024

2025

US$

US$

Total operating expenses

(86,617)

(90,134)

Share-based compensation expenses

3,827

1,836

Amortization of intangible assets resulting from acquisitions

and business cooperation agreements

1,700

1,827

Total adjusted operating expenses

(81,090)

(86,471)

Operating loss

(38,312)

(25,359)

Share-based compensation expenses

3,827

1,836

Amortization of intangible assets resulting from acquisitions

and business cooperation agreements

1,700

1,827

Adjusted operating loss

(32,785)

(21,696)

Net  loss

(38,907)

(29,097)

Share-based compensation expenses

3,827

1,836

Amortization of intangible assets resulting from acquisitions

and business cooperation agreements

1,700

1,827

Gain from fair value change of long-term investments

(1,978)

(434)

Loss from equity method investments

1,361

1,104

Investment loss

-

100

Income tax expenses

119

469

Interest income

(2,901)

(1,204)

Interest expense

4,105

4,081

Adjusted EBIT

(32,674)

(21,318)

Net loss attributable to Zepp Health Corporation

(38,857)

(29,097)

Share-based compensation expenses

3,827

1,836

Amortization of intangible assets resulting from acquisitions

and business cooperation agreements

1,700

1,827

Gain from fair value change of long-term investments

(1,978)

(434)

Loss from equity method investments

1,361

1,104

Investment loss

-

100

Tax effects on non-GAAP adjustments

(274)

(301)

Adjusted net loss attributable to Zepp Health Corporation

(34,221)

(24,965)

Adjusted basic and diluted net loss per share attributable

to Zepp Health Corporation

(0.13)

(0.10)

Adjusted basic and diluted net loss per ADS (16 ordinary

shares equal to 1 ADS) 

(2.11)

(1.57)

Weighted average number of shares used in computing

adjusted basic and diluted net loss per share

259,433,512

254,405,624

Share-based compensation expenses included are follows:

Selling and marketing

368

131

General and administrative

1,812

1,104

Research and development

1,647

601

Total

3,827

1,836

SOURCE Zepp Health Corp.

Suncor Energy (SU - Free Report) came out with quarterly earnings of $1.07 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $1.08 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +25.88%. A quarter ago, it was expected that this energy company would post earnings of $0.5 per share when it actually produced earnings of $0.51, delivering a surprise of +2%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Suncor Energy, which belongs to the Zacks Oil and Gas - Integrated - Canadian industry, posted revenues of $9.2 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 11.10%. This compares to year-ago revenues of $9.58 billion. The company has topped consensus revenue estimates four 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.

Suncor Energy shares have added about 11.1% since the beginning of the year versus the S&P 500's gain of 16.5%.

What's Next for Suncor Energy?While Suncor Energy has underperformed 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 Suncor Energy 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 $0.56 on $8.18 billion in revenues for the coming quarter and $2.84 on $34.01 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, Oil and Gas - Integrated - Canadian is currently in the top 20% 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 broader Zacks Oils-Energy sector, Enbridge (ENB - Free Report) , has yet to report results for the quarter ended September 2025. The results are expected to be released on November 7.

This oil and natural gas transportation and power transmission company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of -2.5%. The consensus EPS estimate for the quarter has been revised 4.1% lower over the last 30 days to the current level.

Enbridge's revenues are expected to be $10.86 billion, down 0.5% from the year-ago quarter.

Accel Entertainment (ACEL - Free Report) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.2 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +20.00%. A quarter ago, it was expected that this company would post earnings of $0.22 per share when it actually produced earnings of $0.25, delivering a surprise of +13.64%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Accel Entertainment, which belongs to the Zacks Gaming industry, posted revenues of $329.69 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 0.36%. This compares to year-ago revenues of $302.23 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.

Accel Entertainment shares have lost about 6.5% since the beginning of the year versus the S&P 500's gain of 16.5%.

What's Next for Accel Entertainment?While Accel Entertainment has underperformed 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 Accel Entertainment 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 $0.21 on $341.07 million in revenues for the coming quarter and $0.90 on $1.33 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, Gaming is currently in the top 32% 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.

One other stock from the same industry, Melco Resorts (MLCO - Free Report) , is yet to report results for the quarter ended September 2025. The results are expected to be released on November 6.

This casino company is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of +37.5%. The consensus EPS estimate for the quarter has been revised 2.9% lower over the last 30 days to the current level.

Melco Resorts' revenues are expected to be $1.29 billion, up 9.4% from the year-ago quarter.

American Well Corporation (AMWL - Free Report) came out with a quarterly loss of $1.74 per share versus the Zacks Consensus Estimate of a loss of $1.83. This compares to a loss of $2.87 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +4.92%. A quarter ago, it was expected that this company would post a loss of $1.84 per share when it actually produced a loss of $1.24, delivering a surprise of +32.61%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

American Well, which belongs to the Zacks Medical Info Systems industry, posted revenues of $56.29 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 3.53%. This compares to year-ago revenues of $61.05 million. The company has topped consensus revenue estimates four 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.

American Well shares have lost about 29.8% since the beginning of the year versus the S&P 500's gain of 16.5%.

What's Next for American Well?While American Well has underperformed 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 American Well 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 -$1.94 on $55.3 million in revenues for the coming quarter and -$6.13 on $247.42 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 24% 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, Pulmonx Corporation (LUNG - 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 $0.40 per share in its upcoming report, which represents a year-over-year change of -11.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Pulmonx Corporation's revenues are expected to be $21.31 million, up 4.5% from the year-ago quarter.

MNTN, Inc. (MNTN) Q3 2025 Earnings Call November 4, 2025 4:30 PM EST

Company Participants

Brinlea Johnson
Mark Douglas - Founder, President, CEO & Chairman of the Board
Patrick Pohlen - Chief Financial Officer

Conference Call Participants

Shyam Patil - Susquehanna Financial Group, LLLP, Research Division
Robert Coolbrith - Evercore ISI Institutional Equities, Research Division
Andrew Boone - Citizens JMP Securities, LLC, Research Division
Andrew Marok - Raymond James & Associates, Inc., Research Division
Robert Sanderson - Loop Capital Markets LLC, Research Division
Matthew Cost - Morgan Stanley, Research Division

Presentation

Operator

Hello, and welcome to the MNTN Third Quarter 2025 Results Conference Call. [Operator Instructions]

I would now like to turn the call over to Brinlea Johnson. Please go ahead.

Brinlea Johnson

Good afternoon. Thank you for joining us for MNTN's Third Quarter 2025 Earnings Call. With me today is Mark Douglas, CEO; and Patrick Pohlen, CFO.

Just to remind everyone, today's call includes forward-looking statements that are subject to risks and uncertainties, and actual results could materially differ from those anticipated in these forward-looking statements. For the risks and uncertainties that may affect future results, please see our most recently filed periodic report, which is also available on our website. we will discuss non-GAAP financial measures on today's call. Reconciliations of these measures are available in our earnings materials on our website.

With that, I'll turn the call over to Mark. Please go ahead.

Mark Douglas
Founder, President, CEO & Chairman of the Board

Thank you for joining us today. We had another strong quarter with revenue and adjusted EBITDA growth, as well as positive net income. But before we get into the numbers, I want to take a step back and talk about what makes MNTN different, why this moment in time is so exciting and where our next stage of growth is coming from because

Recommended For You

Rapid7, Inc. (RPD) Q3 2025 Earnings Call November 4, 2025 4:30 PM EST

Company Participants

Corey Thomas - CEO & Director
Timothy Adams - Chief Financial Officer

Conference Call Participants

Ryan Gardella
Robbie Owens - Piper Sandler & Co., Research Division
Fatima Boolani - Citigroup Inc., Research Division
Matthew Hedberg - RBC Capital Markets, Research Division
Michael Cikos - Needham & Company, LLC, Research Division
Eric Heath - KeyBanc Capital Markets Inc., Research Division
Joseph Gallo - Jefferies LLC, Research Division
Gregg Moskowitz - Mizuho Securities USA LLC, Research Division
Junaid Siddiqui - Truist Securities, Inc., Research Division
Joshua Tilton - Wolfe Research, LLC
Zachary Schneider - Robert W. Baird & Co. Incorporated, Research Division
William Kingsley Crane - Canaccord Genuity Corp., Research Division
Rudy Kessinger - D.A. Davidson & Co., Research Division

Presentation

Operator

Good day, everyone. My name is Leila, and I will be your conference operator today. At this time, I would like to welcome you to the Q3 2025 Rapid7 Earnings Call. [Operator Instructions].

At this time, I would like to turn the call over to Ryan Gardella, Investor Relations.

Ryan Gardella

Thank you, operator, and good afternoon, everyone. We appreciate you joining us today to discuss Rapid7's third quarter 2025 financial and operating results. In addition to our financial outlook for the fourth quarter and fiscal year 2025. With me on the call today are Corey Thomas, our CEO; and Tim Adams, our CFO. We have distributed our earnings press release over the wire, and it is now posted on our website at investors.rapid7.com, along with the updated company presentation and financial metrics file.

This call is being broadcast live via webcast. And following the call, an audio replay will be available at investors.rapid7.com. During this call, we may make statements related to our business that are considered forward-looking under federal securities laws. These statements are made pursuant to the

Recommended For You

Reporting favorable Q3 results on Monday evening, Exact Sciences (EXAS - Free Report)  is an intriguing stock to watch among the Zacks Rank #1 (Strong Buy) list.

Recognized as a leader in medical diagnostics, the upside potential for Exact Sciences stock has been lifted by its improved operational and financial performance. Correlating with such, EXAS spiked nearly +4% on Tuesday and is now up more than +20% in 2025.

Image Source: Zacks Investment Research

High Demand for Exact Sciences Cancer Screening TestsExact Sciences is seeing surging demand for its non-invasive at-home screening test, Cologuard, which detects both cancerous and precancerous cells for colorectal cancer. Adding further momentum to its diagnostic portfolio was the launch of CancerGuard, a multi-cancer early detection test, with Exact Sciences' Screening revenue jumping 22% year over year to $666 million. Overall, Exact Sciences Q4 sales rose 20% to $850.74 million and comfortably exceeded estimates of $810.45 million.

On the bottom line, Exact Sciences posted adjusted EPS of $0.24, beating expectations of $0.13 and climbing from an adjusted loss of $0.21 per share in Q3 2024. On a GAAP basis, Exact Sciences posted a much narrower net loss of $19.6 million versus a loss of $70 million a year ago. It’s also noteworthy that Exact Sciences' Adjusted EBITDA was up 37% YoY to $135 million with a margin expansion of 200 basis points to 16%.

Exact Sciences Strong Free Cash FlowBolstering improvements to its financial health, it’s important to note the cash flow improvements that were also highlighted in Exact Sciences' Q3 report.

In this regard, Exact Sciences' free cash flow spiked 69% during Q3 to $190 million, with the company seeing record operating cash flow of $220 million.

Exact Sciences Favorable GuidanceRaising its full-year fiscal 2025 guidance, Exact Sciences now expects annual sales to hit a new peak of between $3.22 billion-$3.23 billion, up from a previous range of $3.13 billion-$3.17 billion. This would reflect over 16% growth from FY24 sales of $2.76 billion.

Image Source: Zacks Investment Research

Bottom LineRecord-breaking revenue growth, improved profitability, and the successful launch of its new multi-cancer detection test are leading to bullish sentiment for Exact Sciences stock, which was already benefiting from a positive trend of earnings estimate revisions (EPS) ahead of its Q3 report.  

Intrusion Inc. (INTZ - Free Report) ended the recent trading session at $1.78, demonstrating a -3.78% change from the preceding day's closing price. This change lagged the S&P 500's 1.17% loss on the day. At the same time, the Dow lost 0.53%, and the tech-heavy Nasdaq lost 2.04%.

Prior to today's trading, shares of the company had gained 1.65% lagged the Computer and Technology sector's gain of 5.49% and the S&P 500's gain of 2.12%.

Analysts and investors alike will be keeping a close eye on the performance of Intrusion Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on November 11, 2025. In that report, analysts expect Intrusion Inc. to post earnings of -$0.1 per share. This would mark year-over-year growth of 71.43%. In the meantime, our current consensus estimate forecasts the revenue to be $1.91 million, indicating a 27.33% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates project earnings of -$0.38 per share and a revenue of $7.74 million, demonstrating changes of +76.69% and +34.03%, respectively, from the preceding year.

Any recent changes to analyst estimates for Intrusion Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Intrusion Inc. possesses a Zacks Rank of #4 (Sell).

The Computer - Networking industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 155, placing it within the bottom 38% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.