Reports

Palantir exceeded expectations in Q1 2025 with 39% year-over-year revenue growth, strong profitability, and significant expansion in U.S. commercial operations driven by AI demand.

• Revenue grew 39% year-over-year to $883,855,000.
• Net income attributable to common stockholders reached $214,031,000.

Vertex delivered Q1 2025 revenue of $2.77B and adjusted EPS of $4.06, with continued momentum in CF therapies and early launches of ALYFTREK and JOURNAVX; GAAP net income declined due to a $379M impairment.

• Revenue grew to $2.77B, up 3% YoY, led by TRIKAFTA/KAFTRIO and new CF drug ALYFTREK.
• GAAP net income dropped to $646M due to a $379M impairment on VX-264.

Williams posted strong Q1 2025 results driven by its base business and strategic expansions, leading to increased net income and adjusted EBITDA while enhancing its 2025 outlook.

• GAAP Net Income rose to $690 million, driven by increased service revenues and upstream contributions.
• Adjusted EBITDA grew to $1.989 billion, reflecting strength across key segments.

Despite seasonal softness and weather disruptions, CRH grew revenue and adjusted EBITDA in Q1 2025, while facing a net loss primarily due to the absence of prior-year divestiture gains.

• Revenue grew 3% year-over-year to $6.8 billion.
• Adjusted EBITDA increased 11% to $495 million.

Diamondback Energy posted robust Q1 2025 financials with $4.05B in revenue and $1.4B in net income. The company generated $1.6B in adjusted free cash flow and returned $864M to shareholders. Operationally, it maintained high production levels while focusing on capital efficiency amid commodity price volatility.

• Generated $1.6B in adjusted free cash flow, funding aggressive shareholder returns.
• Achieved strong production levels averaging 850.7 MBOE/d.

Realty Income delivered stable performance in Q1 2025, with $1.38B in revenue, $249.8M in net income, and continued investment activity yielding strong returns.

• Net income reached $249.8 million, reflecting resilient portfolio performance.
• Adjusted EPS came in at $1.06, showing stable earnings quality.

Cummins delivered strong Q1 results with record performance in the Power Systems segment, but withdrew full-year guidance amid economic uncertainty and tariff pressures.

• Revenue for Q1 2025 was $8.2 billion, down 3% from the prior year.
• Net income was $824 million, driven by solid performance across segments, especially Power Systems.

Ford generated $40.7B in revenue and posted a net income of $471M in Q1 2025. While electrified vehicle sales reached record highs, EBIT and free cash flow declined sharply due to tariffs and production adjustments.

• Revenue reached $40.7B, led by pickup and hybrid sales.
• Net income was $471M, down from $1.33B a year ago.

BioNTech's Q1 2025 results showed a net loss of €415.8 million on revenues of €182.8 million, primarily driven by reduced COVID-19 vaccine demand. The company continued advancing its oncology pipeline and maintained a strong cash position.

• Revenue declined slightly to €182.8 million, mainly from COVID-19 vaccine collaboration.
• Reported a net loss of €415.8 million and an EPS of -€1.73.

onsemi faced a challenging Q1 2025 with a sharp revenue decline and a significant GAAP net loss driven by restructuring and impairment charges, though non-GAAP metrics showed continued profitability.

• Reported GAAP net loss of $486,100,000 due to $539,300,000 in restructuring and impairment charges.
• Revenue declined to $1,445,700,000, down from $1,862,700,000 a year earlier.

Zimmer Biomet delivered strong Q1 results with revenue of $1.91B and adjusted EPS of $1.81, supported by U.S. hip portfolio momentum and the Paragon 28 acquisition.

• Revenue reached $1.909B, growing 1.1% year-over-year and 2.3% in constant currency.
• Adjusted EPS came in at $1.81, significantly above the reported $0.91 EPS.

Coterra Energy delivered a robust quarter, exceeding production guidance, generating $663 million in free cash flow, and posting $516 million in net income while maintaining capital discipline.

• Free cash flow reached $663 million, used to fund dividends, share repurchases, and reduce debt.
• Production volumes exceeded guidance across oil, natural gas, and total BOE.

Tyson Foods posted $13.07 billion in sales and $0.92 in adjusted EPS for Q2 2025. Net income reached $380 million, with operating income at $515 million. The chicken segment drove performance, nearly doubling operating income YoY, while beef continued to face margin pressure.

• Chicken segment AOI nearly doubled YoY with 3% volume growth.
• Flat enterprise sales and adjusted EPS despite legal contingency accruals.

Clorox delivered improved gross margins and returned to profitability with $186 million in net income, despite an 8% decline in revenue driven by recent divestitures.

• Net sales declined 8% to $1668000000 due to business divestitures.
• Gross margin expanded to 44.6%, marking the 10th consecutive quarter of improvement.

Corebridge Financial posted a net loss of $664 million for Q1 2025 due to realized losses and market risk impacts, but maintained strong operating performance with adjusted EPS of $1.16 and returned $454 million to shareholders.

• Reported adjusted after-tax operating income of $649 million, with EPS of $1.16.
• Returned $454 million to shareholders through buybacks and dividends.

Sun Communities delivered mixed results for Q1 2025, with continued strength in North American MH and RV properties, a significant net loss driven by discontinued operations, and a major strategic divestiture of its Safe Harbor Marinas portfolio.

• Completed the $5.25 billion sale of Safe Harbor Marinas, contributing to balance sheet repositioning.
• Reported a net loss of $41.6 million, or -$0.34 per share, impacted by discontinued operations.

AECOM delivered a solid second quarter in fiscal 2025, with increased net income and adjusted EPS, improved margins, and a record-high backlog, prompting an upward revision to its financial outlook.

• Adjusted EPS rose to $1.25, reflecting 20% growth.
• Total backlog reached $24.27 billion, setting a new record.

BellRing Brands delivered solid performance in Q2 2025, driven by Premier Protein's market strength, improved pricing, and increased household penetration.

• Net sales grew to $588,000,000, driven by both volume and pricing improvements.
• Premier Protein ready-to-drink shake sales rose 21.7% YoY.

BWX Technologies delivered solid Q1 2025 performance with higher revenue, EPS growth, and expanded backlog, reaffirming its full-year guidance.

• Revenue increased to $682.3 million driven by strong growth in Government and Commercial Operations.
• Net income rose to $75.5 million and non-GAAP EPS reached $0.91.

Henry Schein delivered a solid Q1 2025 performance with $3.17 billion in revenue and a net income of $110 million. Non-GAAP EPS reached $1.15, supported by gains in medical distribution and specialty products, despite restructuring costs and a decline in dental equipment sales.

• Total revenue reached $3.17 billion, nearly flat YoY due to currency headwinds.
• GAAP EPS grew to $0.88 while non-GAAP EPS rose to $1.15.

Vornado Realty Trust posted a net income of $86.8M in Q1 2025, reversing a prior-year loss, largely due to a significant gain from the 666 Fifth Avenue sale and the reversal of accrued rent expense at PENN 1.

• Net income surged to $86.8M from a $9M loss in Q1 2024.
• A $76M gain was recognized from the sale of a portion of 666 Fifth Avenue to UNIQLO.

Celanese posted $2.4 billion in revenue and a net loss of $17 million for Q1 2025, driven by productivity gains in Engineered Materials and offset by softness in Acetyl Chain order timing and costs. Adjusted EPS was $0.57.

• Engineered Materials benefited from favorable mix and productivity, delivering $1.29 billion in revenue.
• Acetyl Chain performance was impacted by delayed acetate tow orders and slightly higher energy costs.

Freshpet's Q1 2025 performance reflected strong sales momentum with a 17.6% increase in revenue, but profitability declined due to significant non-recurring SG&A costs. Gross margin remained stable, and adjusted EBITDA grew year-over-year.

• Revenue rose to $263.2M, driven by volume gains and favorable pricing.
• The company posted a net loss of $12.7M, down from $18.6M in net income last year.

Lattice Semiconductor delivered a solid Q1 2025 performance, growing revenue to $120.1 million and improving adjusted EBITDA margin to 33.4%. The company reported a GAAP net income of $5.0 million and generated $23.3 million in free cash flow.

• Revenue rose to $120.1 million, up from Q4 2024.
• Non-GAAP EPS reached $0.22, significantly higher than GAAP EPS of $0.04.

Fabrinet delivered strong Q3 results with record revenue and non-GAAP EPS, supported by robust demand in both optical and non-optical communication segments.

• Achieved record revenue of $871.8 million, up 19% YoY.
• Non-GAAP EPS exceeded guidance at $2.52.

Bright Horizons posted a solid first quarter driven by enrollment gains and increased use of services, with revenue up 7% and adjusted EPS rising over 50%.

• Revenue reached $665,527,000, a 7% increase year-over-year.
• Net income more than doubled to $38,049,000 from $16,989,000 last year.

JBT Marel Corporation posted solid Q1 2025 results despite a GAAP net loss, driven by significant non-cash pension charges. Recurring revenue accounted for over half of the $854 million total revenue, and adjusted EBITDA reached $112 million. The company maintained strong order intake and confirmed it is on track with synergy and integration targets.

• Revenue reached $854 million, with over 50% from recurring sources.
• Reported net loss of $173 million due to pension and M&A-related charges.

Hims & Hers delivered exceptional financial performance in Q1 2025, more than doubling revenue year-over-year and significantly increasing profitability across key metrics, driven by personalized treatments and expansion in weight loss solutions.

• Revenue grew 111% year-over-year to $586 million.
• Net income increased to $49.5 million from $11.1 million a year ago.

Corcept Therapeutics reported revenue of $157.2 million for the first quarter of 2025, an increase from $146.8 million in the same period last year. Despite a decrease in net income and diluted EPS compared to the prior year, the company reiterated its full-year 2025 revenue guidance of $900 - $950 million.

• First quarter 2025 revenue was $157.2 million, up from $146.8 million in Q1 2024.
• Net income for Q1 2025 was $20.5 million, down from $27.8 million in Q1 2024.

Inspire Medical Systems reported strong performance in the first quarter of 2025 with revenue growth of 23% year-over-year, reaching $201.3 million. The company achieved a net income of $3.0 million and diluted earnings per share of $0.10, showing significant improvement compared to a net loss in the prior year period. Gross margin remained strong at 84.7%, and operating loss improved by 90%. The company also surpassed a milestone of 100,000 patients receiving Inspire therapy.

• Generated revenue of $201.3 million in the first quarter of 2025, a 23% increase over the same quarter last year.
• Achieved gross margin of 84.7% in the first quarter of 2025.

Air Lease Corporation announced robust financial results for the first quarter ended March 31, 2025, with significant increases in revenue and net income. The company benefited from fleet expansion, strong sales, and substantial insurance settlements related to its former Russian fleet.

• Total revenues increased by 11.3% to $738.3 million.
• Net income attributable to common stockholders surged by 274.5% to $364.8 million.

TG Therapeutics delivered a profitable first quarter of 2025, achieving $120.9 million in revenue primarily from BRIUMVI sales and reporting a net income of $5.1 million. The company raised full-year revenue targets on the back of strong adoption and promising long-term data.

• Recorded net income of $5.1 million, turning profitable from a loss last year
• Generated $119.7 million in U.S. BRIUMVI product revenue

Boise Cascade reported net income of $40.3 million on sales of $1.5 billion for the first quarter ended March 31, 2025, a decrease compared to the same period in the prior year.

• First quarter 2025 net income was $40.3 million, down from $104.1 million in Q1 2024.
• Sales for the first quarter 2025 were $1.5 billion, a decrease from $1.6 billion in Q1 2024.

Viper Energy reported strong first quarter 2025 results with consolidated net income of $153 million and net income attributable to Viper of $75 million. The company also completed a significant Drop Down transaction with Diamondback Energy, enhancing its footprint and financial position.

• Achieved average daily production of 31,311 bo/d (57,378 boe/d) in Q1 2025.
• Reported consolidated net income of $153 million and net income attributable to Viper of $75 million for Q1 2025.

Cabot Corporation delivered strong financial performance in the second quarter of fiscal year 2025, with Adjusted EPS increasing by 7% year-over-year. The Performance Chemicals segment showed significant growth, while Reinforcement Materials experienced a decline due to lower volumes. The company also increased its quarterly dividend and returned cash to shareholders.

• Diluted EPS was $1.69 and Adjusted EPS was $1.90, representing a 7% increase in Adjusted EPS compared to the prior year.
• Reinforcement Materials segment EBIT was $131 million, down 12% compared to the same quarter in the prior year.

Archrock reported a significant increase in revenue, net income, and EPS for the first quarter of 2025 compared to the prior year, driven by strong performance in both contract operations and aftermarket services. The company also announced and closed an acquisition and raised its full-year Adjusted EBITDA guidance.

• First quarter 2025 revenue increased by 29.3% to $347.2 million.
• Net income rose significantly to $70.9 million, resulting in EPS of $0.40.

Matson reported a significant increase in net income and operating income for the first quarter of 2025, primarily driven by strong performance in their China service due to elevated freight rates. Domestic tradelanes saw mixed volume results, and Logistics operating income decreased slightly.

• First quarter 2025 diluted EPS increased to $2.18 from $1.04 in the prior year.
• Net income for Q1 2025 was $72.3 million, up from $36.1 million in Q1 2024.

Interparfums, Inc. achieved record net sales of $339 million in the first quarter of 2025, representing a 5% increase from the same period in 2024. This growth was driven by strong demand for key brands and a robust innovation pipeline, despite a challenging global environment.

• Consolidated net sales increased by 5% on a reported basis and 7% on an organic basis.
• European-based operations saw a 7% increase in sales, led by strong performances from Jimmy Choo, Coach, and Lacoste.

Sterling Infrastructure, Inc. delivered a strong first quarter in 2025, with adjusted net income increasing by 28% and adjusted diluted EPS by 29%. Revenue grew 7% excluding RHB, primarily fueled by an 18% increase in E-Infrastructure Solutions and 9% in Transportation Solutions. Gross profit margins expanded significantly to 22.0%.

• Adjusted net income increased by 28% to $50.2 million, with adjusted diluted EPS reaching $1.63.
• Revenues grew 7% (excluding RHB) to $430.9 million, driven by E-Infrastructure Solutions (18% growth) and Transportation Solutions (9% growth).

Dorman Products, Inc. reported strong first quarter 2025 results with net sales increasing 8.3% to $507.7 million and diluted EPS increasing 78% to $1.87, driven by strong demand in the Light Duty segment and operational efficiency.

• Net sales increased 8.3% to $507.7 million in Q1 2025 compared to $468.7 million in Q1 2024.
• Diluted EPS rose 78% to $1.87 in Q1 2025 from $1.05 in Q1 2024.

ONE Gas, Inc. announced robust first quarter 2025 financial results, with net income increasing to $119.4 million, or $1.98 per diluted share, compared to $99.3 million, or $1.75 per diluted share, in the first quarter of 2024. The company attributes this success to effective regulatory strategy and disciplined expense management, and anticipates achieving the upper half of its 2025 financial guidance.

• Net income for Q1 2025 increased to $119.4 million, up from $99.3 million in Q1 2024.
• Diluted earnings per share rose to $1.98 in Q1 2025 from $1.75 in Q1 2024.

IAC delivered a strong Q1 2025, with total revenue of $570.5 million and a significant increase in Adjusted EBITDA to $50.9 million, up 818% year-over-year. The company completed the spin-off of Angi Inc. and repurchased $200 million in common shares, demonstrating a focus on capital allocation and value creation. Dotdash Meredith (DDM) saw digital revenue growth and a substantial increase in operating income.

• IAC completed the spin-off of Angi Inc. on March 31, 2025, with Angi's results now reflected as discontinued operations.
• The company repurchased 4.5 million common shares for $200 million between February 12, 2025, and May 2, 2025.

Primoris Services Corporation reported strong first quarter 2025 results with revenue increasing by 16.7% to $1.65 billion, driven by growth in both Energy and Utilities segments. Net income more than doubled to $44.2 million, and Adjusted EPS rose significantly to $0.98. Total backlog remained robust at $11.4 billion. The company maintained its full-year 2025 guidance.

• Revenue for Q1 2025 increased by 16.7% to $1,648.1 million compared to Q1 2024.
• Net income for Q1 2025 was $44.2 million, up from $18.9 million in Q1 2024.

Mueller Water Products, Inc. announced strong financial results for its fiscal 2025 second quarter, achieving record consolidated net sales, adjusted EBITDA, and adjusted net income per share. The company reported a 3.1% increase in net sales to $364.3 million and a 15.8% increase in net income to $51.3 million, with adjusted diluted EPS reaching $0.34.

• Net sales increased 3.1% to $364.3 million, primarily due to higher pricing and increased volumes.
• Reported net income rose 15.8% to $51.3 million, with a net income margin of 14.1%.

National Health Investors, Inc. reported a net income of $33.817 million for Q1 2025, an increase from $30.657 million in Q1 2024. Total revenues grew to $89.296 million from $81.513 million in the prior year, primarily due to new investments and increased occupancy in the SHOP segment. EPS increased to $0.75 basic and $0.74 diluted.

• Net income increased by 10.3% to $33.817 million.
• Total revenues increased by 9.5% to $89.296 million.

Black Stone Minerals, L.P. reported a net income of $15.9 million for the first quarter of 2025, with total revenue of $59.252 million. The company's total production, including working-interest volumes, was 35.5 MBoe/d. Adjusted EBITDA for the quarter totaled $82.2 million, and distributable cash flow was $73.7 million. The company maintained its quarterly distribution of $0.375 per unit, with a distribution coverage of approximately 0.93x.

• Net income for Q1 2025 was $15.9 million, a decrease from $63.9 million in Q1 2024.
• Total production, including working-interest volumes, was 35.5 MBoe/d for the quarter.

Paymentus started 2025 on strong footing, with year-over-year growth in revenue, contribution profit and adjusted EBITDA of 48.9%, 26.3% and 51.3%, respectively. This momentum continues to be driven by higher transaction activity from both new and existing billers, bolstered by the non-discretionary nature of our business and the value we bring to our customers. The company's strong bookings and backlog at quarter-end continue to support a positive outlook for the rest of the year.

• Revenue increased by 48.9% year-over-year to $275.2 million, driven by increased billers and transactions.
• Adjusted EBITDA grew by 51.3% year-over-year to $30.0 million, representing a 34.2% adjusted EBITDA margin.

Crescent Energy delivered strong first quarter 2025 results, exceeding guidance expectations with $337 million in Operating Cash Flow and $242 million in Levered Free Cash Flow. The company also completed the acquisition of Ridgemar Energy and divested approximately $90 million in non-core assets, while repurchasing $30 million of shares.

• Achieved robust financial performance, surpassing all key metrics and guidance expectations.
• Generated $337 million in Operating Cash Flow and $242 million in Levered Free Cash Flow, indicating an annualized yield of approximately 45%.

National Storage Affiliates Trust reported a significant decrease in net income and diluted earnings per share for the first quarter of 2025 compared to the same period in 2024. Core FFO per share also decreased. Same store NOI declined, driven by lower revenues and higher operating expenses. The company acquired three properties during the quarter and reaffirmed its full-year 2025 guidance.

• Net income for Q1 2025 was $19.5 million, a 79.5% decrease compared to Q1 2024.
• Diluted earnings per share for Q1 2025 were $0.10, down from $0.65 in Q1 2024.

Tidewater Inc. announced revenue of $333.4 million for the first quarter ended March 31, 2025, a 3.8% improvement from the same period in 2024. Net income was $42.7 million, or $0.83 per common share, down from $47.0 million in the prior year. The company achieved a record average day rate of $22,303 per day and generated $94.7 million in free cash flow.

• Revenue increased by 3.8% to $333.4 million compared to the first quarter of 2024.
• Average day rate reached a record $22,303 per day, a 14.0% improvement year-over-year.

Park Hotels delivered nearly flat revenues year-over-year, but operating income and margins dropped significantly due to impairment charges and increased costs. Despite this, management highlighted resilience in RevPAR and continued capital deployment in strategic renovations and shareholder returns.

• Reported net loss of $57 million compared to $28 million income in Q1 2024
• Operating income plunged to $7 million from $92 million year-over-year

Palomar Holdings, Inc. reported a strong start to 2025, with net income increasing by 62.7% to $42.9 million and adjusted net income surging by 84.6% to $51.3 million. Gross written premiums grew by 20.1% to $442.2 million, and the company achieved a combined ratio of 73.1% and an adjusted combined ratio of 68.5%.

• Gross written premiums increased by 20.1% to $442.2 million compared to $368.1 million in the first quarter of 2024.
• Net income increased by 62.7% to $42.9 million, and adjusted net income increased by 84.6% to $51.3 million.

Recursion posted higher revenue but also much higher losses in Q1 2025, driven by a major jump in R&D and administrative costs due to the integration with Exscientia and expanded platform efforts.

• Total revenue rose to $15 million, up from $14 million year-over-year.
• Net loss more than doubled to $203 million from $91.4 million a year earlier.

NewAmsterdam Pharma Company N.V. reported a net loss of $39,527,000 for the three months ended March 31, 2025, a significant improvement from the $93,767,000 net loss in the same period last year. Revenue increased to $2,978,000 from $1,401,000, primarily due to development cost contributions from a partner. Operating expenses rose, but this was offset by substantial gains from fair value changes in earnout and warrants, and increased interest income.

• Net loss significantly decreased to $39,527,000 in Q1 2025 from $93,767,000 in Q1 2024.
• Revenue increased by 113% to $2,978,000 in Q1 2025, primarily from R&D performance obligations.

Addus HomeCare reported a strong start to 2025 with significant growth in net service revenues, net income, and adjusted EBITDA. The personal care segment was the primary driver of growth, benefiting from acquisitions and rate increases. The company also saw continued improvement in its hospice care segment and maintained a strong balance sheet with consistent cash flow from operations.

• Net service revenues increased by 20.3% year-over-year to $337.7 million.
• Net income rose to $21.2 million, resulting in $1.16 per diluted share.

SiriusPoint reported a strong start to 2025 with a tenth consecutive quarter of underwriting profits and net income of $57.6 million. The company achieved a Core combined ratio of 95.4% and a return on equity of 12.9%, demonstrating stable and consistent earnings despite elevated natural catastrophe losses.

• Achieved tenth consecutive quarter of underwriting profits.
• Reported net income of $57.6 million for the first quarter of 2025.

Upwork achieved record first-quarter revenue and profitability in Q1 2025, driven by strong execution and strategic investments in AI. Revenue grew 1% year-over-year to $192.7 million, while net income more than doubled to $37.7 million. Adjusted EBITDA reached $56.0 million, resulting in a 29% margin.

• Achieved record first quarter revenue of $192.7 million, a 1% increase year-over-year.
• Reported GAAP net income of $37.7 million, more than double the prior year.

Certara reported strong first quarter 2025 results, with revenue increasing 10% year-over-year to $106.0 million. Both software and services segments contributed to growth. Net income significantly improved from a loss in the prior year period, and Adjusted EBITDA saw a substantial increase.

• Total revenue for Q1 2025 was $106.0 million, a 10% increase from Q1 2024.
• Software revenue grew by 18% to $46.4 million in Q1 2025.

Integra LifeSciences reported total revenues of $382.7 million in the first quarter of 2025, a 3.7% increase year-over-year. GAAP net loss was $(25.3) million, or $(0.33) per diluted share, while adjusted net income was $31.7 million, or $0.41 per diluted share. The company is reaffirming its full-year revenue guidance but updating adjusted EPS guidance due to new tariffs.

• Total revenues increased 3.7% on a reported basis to $382.7 million.
• GAAP net loss per diluted share was $(0.33), compared to $(0.04) in the prior year.

Talos Energy achieved record production of approximately 101 MBoe/d in the first quarter of 2025, demonstrating strong operational performance. Despite a net loss reported under GAAP, the company reported positive Adjusted Net Income and strong Adjusted EBITDA and Adjusted Free Cash Flow. Significant cash reserves and an undrawn credit facility provide liquidity, and the company remains on track to be free cash flow positive for the full year 2025, even at lower oil prices.

• Achieved record average net daily production of 100.9 MBoe/d in Q1 2025.
• Reported a GAAP net loss of $9.9 million but a positive Adjusted Net Income of $10.5 million.

BioCryst delivered strong Q1 2025 results with $145.5 million in revenue driven by significant growth in ORLADEYO sales, leading to a return to profitability and improved full-year guidance.

• ORLADEYO revenue reached $134.2 million, up from $88.9 million a year ago.
• Net income was $32,000, compared to a loss of $35.4 million in Q1 2024.

LTC Properties announced its first quarter 2025 operating results, with total revenues of $49.031 million and net income available to common stockholders of $20.517 million. The company transitioned 12 properties to a new SHOP portfolio and issued full-year 2025 guidance.

• Total revenues decreased to $49.031 million in Q1 2025 from $51.366 million in Q1 2024.
• Net income available to common stockholders decreased to $20.517 million in Q1 2025 from $24.065 million in Q1 2024.

RLJ Lodging Trust reported solid first quarter 2025 results, exceeding expectations, driven by strong performance in urban markets and momentum from conversions. The company successfully recycled capital from asset dispositions into share repurchases and strengthened its balance sheet by addressing near-term debt maturities.

• Comparable RevPAR increased by 1.6% to $141.23.
• Total Revenues for the quarter were $328.1 million.

Bladex reported a net profit of $51.7 million for the first quarter of 2025, a 1% increase year-over-year, driven by strong top-line performance with total revenues increasing 7% year-over-year. The annualized return on equity reached 15.4%.

• Net Profits increased 1% year-over-year to $51.7 million in 1Q25.
• Total revenues increased 7% year-over-year to $77.9 million.

NAPCO Security Technologies, Inc. saw a decline in total revenue and net income in Q3 FY25. Recurring service revenue continued to grow and now comprises nearly half of total revenue, helping offset a substantial drop in equipment sales.

• Recurring service revenue grew 10.6% YoY to $21.6M.
• Equipment sales declined by 24.8% YoY.

Artivion, Inc. reported a 2% increase in total revenues to $99.0 million for the first quarter of 2025 compared to the same period last year, driven by growth in stent grafts, On-X, and BioGlue, despite a net loss of $(0.5) million.

• Achieved revenue of $99.0 million in Q1 2025, a 2% increase on a GAAP basis and 4% on a non-GAAP constant currency basis compared to Q1 2024.
• Reported a net loss of $(0.5) million, or $(0.01) per fully diluted share, with non-GAAP net income of $2.5 million, or $0.06 per fully diluted share.

Syndax Pharmaceuticals reported a combined $34 million in net sales for its products Revuforj and Niktimvo in the first quarter of 2025. Revuforj, in its first full quarter of launch, generated $20.0 million in net revenue, while Niktimvo, in its first partial quarter, generated $13.6 million in net revenue reported by Incyte. The company ended the quarter with $602.1 million in cash, cash equivalents, and investments, which is expected to fund operations to profitability.

• Revuforj achieved $20.0 million in net revenue in its first full quarter of U.S. launch.
• Niktimvo, reported by Incyte, achieved $13.6 million in net revenue in its first partial quarter of U.S. launch.

Adeia Inc. announced financial results for the first quarter ended March 31, 2025, reporting revenue of $87.7 million, GAAP diluted EPS of $0.10, and non-GAAP diluted EPS of $0.26. The company generated $57.1 million in cash from operations, paid down $17.1 million of debt, and repurchased $10.0 million of common stock.

• Revenue for Q1 2025 was $87.7 million, aligning with company expectations.
• The company generated $57.1 million in cash from operations, demonstrating strong cash flow management.

Ameresco had a strong start to 2025, with double-digit growth in both Projects and Energy Asset businesses. The company saw significant increases in contracted backlog and total project backlog, enhancing future revenue visibility to nearly $10 billion. Despite potential impacts from tariff changes, the company is reiterating its full-year 2025 guidance due to strong execution and backlog visibility.

• Total revenue increased 18% year-over-year to $352.8 million in Q1 2025.
• Adjusted EBITDA grew 32% year-over-year to $40.6 million in Q1 2025.

Weave Communications, Inc. delivered a strong start to 2025 with significant revenue growth and improved profitability in the first quarter. Total revenue increased by 18.3% year-over-year, reaching $55.8 million. The company also saw improvements in both GAAP and non-GAAP gross margins and achieved positive non-GAAP income from operations and Adjusted EBITDA.

• Total revenue for Q1 2025 was $55.8 million, an 18.3% increase from Q1 2024.
• GAAP gross margin improved to 71.6% and non-GAAP gross margin to 72.1% in Q1 2025.

Alexander's, a real estate investment trust with properties in New York City, experienced a decline in financial performance during the first quarter of 2025. Revenues, net income, and Funds from Operations (FFO) were all lower than in the first quarter of 2024.

• Net income for Q1 2025 was $12.3 million, down from $16.1 million in Q1 2024.
• Diluted EPS for Q1 2025 was $2.40, compared to $3.14 in Q1 2024.

HealthStream announced its first quarter 2025 results, with revenues increasing by 1.0% to $73.5 million. However, operating income decreased by 23.1% to $4.4 million, and net income fell by 17.1% to $4.3 million, resulting in diluted EPS of $0.14.

• Revenues for Q1 2025 increased by 1.0% to $73.5 million compared to Q1 2024.
• Operating income for Q1 2025 decreased by 23.1% to $4.4 million.

Heidrick & Struggles delivered strong first quarter results, with net revenue increasing by 6.9% year-over-year to $283.6 million and adjusted EBITDA reaching $29.1 million, demonstrating resilient business performance and effective client engagement.

• Net revenue increased by 6.9% year-over-year to $283.6 million, surpassing the high end of the company's outlook.
• Adjusted EBITDA grew to $29.1 million, with the adjusted EBITDA margin expanding to 10.3%.

Accel Entertainment achieved record revenues and strong Adjusted EBITDA in Q1 2025, driven by an increase in locations and gaming terminals. The company also commenced casino and racing operations at Fairmount Park, which is expected to be a significant growth driver.

• Record revenues of $323.9 million in Q1 '25, up 7.3% from Q1 '24.
• Net income increased by 97.0% to $14.6 million in Q1 '25.

Ichor Holdings, Ltd. reported first quarter 2025 revenues of $244.5 million, with a GAAP net loss of $(4.6) million and diluted EPS of $(0.13). Non-GAAP net income was $4.2 million, resulting in non-GAAP diluted EPS of $0.12. The company's cash and cash equivalents increased slightly to $109.3 million.

• Revenues for Q1 2025 reached $244.5 million.
• The company reported a GAAP net loss of $(4.6) million and GAAP diluted EPS of $(0.13).

Vitesse Energy announced its first quarter 2025 results, reporting net income of $2.7 million and Adjusted EBITDA of $39.9 million. Production averaged 14,971 Boe per day, an increase of 16% from the previous quarter. The company also revised its 2025 guidance, reducing planned capital expenditures by 32% due to commodity price volatility.

• Net income for Q1 2025 was $2.7 million, with Adjusted Net Income of $8.0 million.
• Adjusted EBITDA for the quarter was $39.9 million.

PRA Group delivered a strong first quarter in 2025, with total portfolio purchases increasing by 18.7% year-over-year and record estimated remaining collections (ERC) of $7.8 billion. Total cash collections grew by 10.7% year-over-year, and the company achieved a cash efficiency ratio of 60.8%. Despite lower-than-modeled consumer tax refunds impacting profitability, the company is positioned for continued success with strategic initiatives and a new CEO.

• Total portfolio purchases increased by 18.7% year-over-year to $291.7 million.
• Estimated remaining collections (ERC) reached a record $7.8 billion, up 20.1% year-over-year.

JELD-WEN reported a significant decrease in net revenues and a larger net loss in the first quarter of 2025 compared to the prior year, primarily due to a court-ordered divestiture and weak macro-economic conditions leading to lower volume/mix. Adjusted EBITDA also declined substantially.

• Net revenues decreased by 19.1% to $776.0 million.
• Net loss increased to $179.8 million, including a $125 million goodwill impairment charge.

Digimarc reported first quarter 2025 financial results, with total revenue decreasing to $9.4 million from $9.9 million in the prior year. Despite the revenue dip, the company saw an increase in gross profit margin to 65% from 63%. Net loss for the quarter was $11.7 million, or ($0.55) per share.

• Total revenue for Q1 2025 decreased to $9.4 million from $9.9 million in Q1 2024.
• Gross profit margin increased to 65% in Q1 2025, up from 63% in Q1 2024.

Relay Therapeutics reported a net loss of $77.1 million for Q1 2025, with total revenue of $7.7 million. The company extended its cash runway into 2029 through strategic cost reductions and expects to fully fund key initiatives, including the ReDiscover-2 trial and vascular malformations clinical proof-of-concept data.

• Cash runway extended into 2029, expected to fully fund the Company meaningfully past topline data for ReDiscover-2 trial and through clinical proof-of-concept data in Vascular Malformations.
• Initiation of Phase 3 ReDiscover-2 trial on track for mid-2025.

Limbach Holdings, Inc. announced strong results for the first quarter of 2025, with total revenue increasing by 11.9% and net income reaching a record $10.2 million. Adjusted EBITDA also saw significant growth, rising 26.5%. The company's focus on Owner Direct Relationships (ODR) contributed to higher margins and more predictable revenue.

• Total revenue increased by 11.9% to $133.1 million compared to Q1 2024.
• Achieved record quarterly net income of $10.2 million, a 34.6% increase from Q1 2024.

IRADIMED CORPORATION achieved record revenue of $19.5 million in the first quarter of 2025, an 11% increase year-over-year, alongside a 16% increase in GAAP diluted EPS to $0.37 and a 17% increase in non-GAAP diluted EPS to $0.42. The company also declared a quarterly cash dividend of $0.17 per common share.

• Record revenue of $19.5 million was reported for Q1 2025, marking an 11% increase from the same period in 2024.
• GAAP diluted EPS increased by 16% to $0.37, and non-GAAP diluted EPS increased by 17% to $0.42 for Q1 2025.

Castle Biosciences reported a strong start to 2025 with significant increases in revenue and test report volume in the first quarter, driven by core revenue drivers like DecisionDx-Melanoma and DecisionDx-SCC. The company also raised its full-year 2025 revenue guidance.

• Q1 2025 revenue increased 21% compared to Q1 2024, reaching $88 million.
• Total test reports for core revenue drivers (DecisionDx-Melanoma, DecisionDx-SCC, TissueCypher) increased 33% over Q1 2024.

EverQuote announced strong first quarter 2025 financial results, with total revenue increasing 83% year-over-year to $166.6 million and Adjusted EBITDA reaching a record $22.5 million, up 197%. The company reported net income of $8.0 million and ended the quarter with a strong cash position.

• Total revenue increased 83% to $166.6 million compared to the first quarter of 2024.
• Adjusted EBITDA grew by 197% to $22.5 million in the first quarter of 2025.

Ethan Allen reported consolidated net sales of $142.7 million for the fiscal 2025 third quarter, a decrease from $146.4 million in the prior year. The company generated $10.2 million in cash from operations and ended the quarter with $183.0 million in total cash and investments with no outstanding debt. Gross margin remained strong at 61.2%.

• Consolidated net sales decreased to $142.7 million compared to $146.4 million in the prior year.
• Adjusted diluted EPS was $0.38, down from $0.48 in the prior year.

SI-BONE, Inc. announced a strong start to 2025, with worldwide revenue increasing by 24.9% to $47.3 million and U.S. revenue growing by 26.6% to $44.8 million. The company achieved positive adjusted EBITDA of $0.5 million, a significant improvement from a loss in the prior year, and reduced net cash usage by 31.7%.

• Worldwide revenue increased by 24.9% to $47.3 million.
• U.S. revenue grew by 26.6% to $44.8 million, driven by strong procedure demand and new product rollouts.

Douglas Dynamics achieved record first quarter 2025 results with net sales increasing 20.3% to $115.1 million and gross margin improving by 470 basis points to 24.5%. Net income improved to $0.1 million, with adjusted EBITDA reaching $9.4 million and record adjusted diluted EPS of $0.09.

• Net Sales increased 20.3% to a record $115.1 million.
• Gross Margin improved by 470 basis points to 24.5%.

Diversified Healthcare Trust (DHC) announced its first quarter 2025 financial results, with details available on their website. The company also provided details for an upcoming conference call to discuss these results.

• DHC's first quarter 2025 financial results were announced on May 5, 2025.
• The full results are accessible on DHC's website under the Quarterly Reports section.

FARO Technologies reported a strong start to 2025, with Q1 financial results surpassing expectations. Revenue reached $82.9 million, gross margin was 57.0%, and adjusted EBITDA stood at $12.5 million, or 15.0% of revenue. The company achieved GAAP net income of $0.9 million and non-GAAP EPS of $0.33, reflecting successful execution of strategic growth initiatives and increasing traction from refreshed products.

• Revenue of $82.9 million, at the upper end of guidance range, demonstrating strong sales performance.
• Gross margin of 57.0% and non-GAAP gross margin of 57.7%, both above guidance range, indicating improved profitability.

Navitas Semiconductor reported first quarter 2025 revenue of $14.0 million, a decrease from $23.2 million in the same quarter last year. The company posted a GAAP net loss of $16.8 million and a non-GAAP net loss of $11.2 million. Despite the revenue decline, Navitas highlighted significant technology and reliability milestones and a strong design win pipeline positioning the company for future growth.

• Launched industry-first GaN bi-directional ICs and IsoFast™ gate-drivers enabling single-stage power topologies.
• Introduced a new 12 kW AI data center platform utilizing GeneSiC™ and GaNSafe™ ICs to support high-density computing.

Tactile Medical reported a slight increase in total revenue for Q1 2025, up 0.3% year-over-year to $61.3 million. The company experienced a net loss of $3.0 million and an Adjusted EBITDA loss of $0.3 million, compared to a net loss of $2.2 million and positive Adjusted EBITDA of $1.0 million in the prior year quarter.

• Total revenue for Q1 2025 was $61.3 million, a 0.3% increase from Q1 2024.
• Gross margin improved to 74% in Q1 2025 from 71% in Q1 2024.

Intrepid Potash, Inc. announced strong first quarter 2025 results with total sales of $97.8 million, net income of $4.6 million, and adjusted EBITDA of $16.6 million. The company achieved its highest quarterly sales volume since 2016, driven by solid performance in potash and Trio®.

• Total sales reached $97.8 million, an increase from $79.3 million in the prior year.
• Net income was $4.6 million, or $0.35 per diluted share, a significant improvement from a net loss of $3.1 million in the prior year.

Denny's Corporation experienced a challenging first quarter in 2025 due to macro headwinds impacting consumer spending. While total operating revenue saw a modest increase, operating income and net income decreased significantly. The company's Denny's brand saw a decline in domestic system-wide same-restaurant sales, while the Keke's brand showed positive growth and expanded into a new state.

• Total operating revenue increased slightly to $111.6 million from $110.0 million in the prior year quarter.
• Operating income decreased to $5.2 million from $10.0 million in the prior year quarter.

TrueBlue reported a revenue of $370 million for the first quarter of 2025, an 8% decrease compared to the prior year. The company experienced a net loss of $14 million, a significant increase from the $2 million net loss in the prior year period. Despite subdued market demand, the company highlighted resilience and strategic priorities to capture market share.

• Revenue for Q1 2025 was $370 million, an 8% decrease from $403 million in Q1 2024.
• Net loss for Q1 2025 was $14 million, compared to a net loss of $2 million in Q1 2024.

ThredUp Inc. announced strong first quarter 2025 financial results, exceeding expectations with record revenue and significant growth in active buyers. The company also raised its full-year 2025 financial outlook, reflecting positive momentum in its marketplace.

• Record quarterly revenue of $71.3 million, up 10% year-over-year.
• Gross margin of 79.1% and a 9% increase in gross profit year-over-year.

James River Group Holdings, Ltd. announced its first quarter 2025 results, reporting a net income from continuing operations of $9.0 million and adjusted net operating income of $9.1 million. The company saw a slight decline in gross written premiums but an improvement in its E&S segment combined ratio, indicating progress in underwriting performance.

• Net income from continuing operations available to common shareholders was $9.0 million ($0.18 per diluted share).
• Adjusted net operating income was $9.1 million ($0.19 per diluted share).

PLAYSTUDIOS, Inc. announced its first quarter 2025 financial results, reporting a revenue of $62.7 million, a decrease from $77.8 million in the prior year. The company posted a net loss of $2.9 million, compared to a net loss of $0.6 million in Q1 2024. Despite the overall decline, direct-to-consumer revenue saw a significant increase of 113.9%. The company also maintained a strong cash position with $107.1 million in cash and cash equivalents.

• Revenue for Q1 2025 was $62.7 million, a decrease from $77.8 million in Q1 2024.
• Net loss for Q1 2025 was $2.9 million, compared to a net loss of $0.6 million in Q1 2024.

Offerpad delivered balanced results in Q1 2025, aligning with expectations, driven by increased Cash Offer volume and improved contribution margin from asset-light services. The company saw a significant reduction in total operating expenses and strong early performance in 2025, with revenue growth building on a reduced cost base.

• Renovate segment achieved record revenue of $5.3 million in Q1 2025, marking a 29% sequential increase.
• Net loss improved by 13% to $15.1 million from the prior quarter, and adjusted EBITDA improved by 32% to -$7.8 million.

Ekso Bionics reported revenue of $3.4 million for the first quarter of 2025, a decrease from $3.8 million in the same period of 2024. The net loss applicable to common stockholders was $2.9 million, or $0.12 per basic and diluted share, an improvement from a net loss of $3.4 million, or $0.20 per basic and diluted share, in the prior year. The company also improved its operating cash burn by 43%.

• Revenue for Q1 2025 was $3.4 million, down from $3.8 million in Q1 2024, primarily due to lower sales of legacy EksoNR devices.
• Net loss improved to $2.9 million ($0.12 per share) in Q1 2025 from $3.4 million ($0.20 per share) in Q1 2024.

Golub Capital BDC, Inc. reported a net investment income of $98.7 million and net income of $79.0 million for the second fiscal quarter of 2025. The company's total assets were $8.95 billion, with a net asset value per share of $15.04.

• Net investment income per share remained consistent at $0.37.
• Adjusted net investment income per share was $0.39.

New Mountain Finance Corporation reported net investment income of $34.5 million, or $0.32 per share, for the first quarter of 2025. The company maintained strong credit performance with approximately 96.5% of the portfolio rated green and increased its senior oriented asset mix to 77%. NAV per share decreased slightly to $12.45.

• Reported net investment income of $34.5 million, or $0.32 per weighted average share.
• Net asset value was $12.45 per share as of March 31, 2025.