BioNTech to Buy CureVac for $1.25 Billion to Boost Cancer Arm
BioNTech SE agreed to buy former Covid vaccine rival CureVac NV for about $1.25 billion in an all-stock transaction that will boost its growing oncology business.
CureVac investors will get approximately $5.46 in BioNTech shares for each CureVac one, the companies said Thursday. The price represents a 34% premium to CureVac's closing share price on Wednesday. CureVac shareholders will own between 4% and 6% of BioNTech once the deal closes.
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Business Insider
2 hours ago
- Business Insider
Zoom (ZM) Looks to Discover Former Glory as a Value Play with Rebounding Margins
Zoom Video Communications (ZM) is a prime example of a stock that went from being a huge winner during the pandemic stay-at-home boom to a forgotten ticker in just a few years. With triple-digit top-line growth during the pandemic, it was natural for growth rates—and the stock price—to slow down as the world returned to normal. Since COVID, ZM stock has flatlined. Confident Investing Starts Here: While investor enthusiasm has waned, Zoom's business hasn't collapsed; in fact, it has quietly evolved. The company managed to hold on to its customers, albeit at the cost of shrinking profit margins. Now, with margins making a solid comeback and strong cash flow and a healthy balance sheet in place, Zoom is starting to look less like a growth play and more like a value investor's favorite. Given its current valuation multiples and overall profile, I rate ZM as a Buy. Ultimately, this overlooked stock is worth keeping an eye on, given the potential catalysts on the horizon. A Fresh Look at Zoom About five years ago, Zoom was one of the hottest stocks during the pandemic, hitting a peak price of $500 in October 2020. The company's sales jumped from $622 million in 2021 to $2.6 billion in 2022 —a massive 325% increase in just one year. Since then, the stock has declined by approximately 85% from its peak. While it's virtually impossible to return to the dizzying heights of nearly five years ago, at current prices, Zoom could be an excellent value play. Even though Zoom's stock price took a big hit, its revenues didn't drop when the pandemic ended and work-from-home trends started to normalize. The company has been growing its revenue over the past three years, although not at the explosive pace it once achieved. Over the last twelve months, Zoom reported $4.7 billion in revenue, up from $4 billion in 2022. At the very least, Zoom has managed to retain some of the business it gained during the pandemic. In my opinion, much of this stability comes from building the leading video conferencing platform globally—one that's incredibly convenient compared to competitors and has created a loyal user base, especially in the corporate world. Additionally, as a software-based, cloud-native company with over 75% gross margins, Zoom converts a significant portion of its earnings into free cash flow. It also has a cash-rich balance sheet, holding approximately $7.8 billion in cash and equivalents, with virtually no debt. This cash alone represents roughly a third of its market capitalization. It's worth noting that when Zoom was trading at its peak, the company sold a bunch of equity, raising around $2.6 billion between 2020 and 2021. This resulted in shareholders being diluted by roughly 235% over the last five and a half years, which also significantly contributed to the substantial decline in stock value since the peak. Zoom's Still in the Room, Just Quieter While Zoom's top line hasn't declined since the pandemic started, the company has had to tighten its profit margins. With the post-COVID economic reopening, Zoom had to work harder to retain customers and negotiate better deals. As a result, operating margins dropped from over 30% at their peak to nearly 3% in 2023, before rebounding to around 20% today. This recovery is a solid achievement by the management team over the past couple of years. A significant part of that success stems from the long-term agreements Zoom has signed, as reflected in a growing remaining performance obligations (RPO) balance. Total RPOs grew 6% in the most recent quarter (1Q26), showing that Zoom isn't losing major customers but is actually expanding its corporate client base. In fact, 4,192 customers generated over $100,000 in revenue in the last twelve months—that's nearly 30% of the company's total revenue and the segment where Zoom earns its best operating margins. Additionally, Zoom has done a great job reducing churn rates, with the monthly average online churn dropping from 3.2% to 2.8% year-over-year. At the same time, the company has consistently cut costs, trimming expenses in Research and Development (R&D), marketing, and General and Administrative (G&A) areas by about 1% in the last quarter—actions that ultimately contributed to margin improvements in this slow-growth environment. Zoom Looks Undervalued for the Cash It Generates For its current fiscal year ending January 2026, Zoom is forecasting revenue growth of 2.6-2.8%, and free cash flow to shrink by about 2.5% at the midpoint of its guidance. These aren't exactly exciting numbers, but they do indicate solid customer retention and the business's maturity. Given that profile, I think Zoom trading at around 3.4x forward EV-to-revenue—roughly 15% above the industry average—but just 12.5x forward free cash flow (compared to an industry average of 19x) seems fair for a low-growth, value-oriented company. What makes it even more appealing is that over the last twelve years, Zoom has generated $1.78 billion in free cash flow. Based on its current enterprise value of $16.3 billion, that translates to a free cash flow yield of about 11%. For context, that's nearly double the S&P 500 (SPY) average, which typically ranges from 5–6%, and well above the 10-year Treasury yield at 4.5%. In other words, Zoom is generating solid returns, which seems definitely better than what investors would receive from risk-free options like government bonds. Is Zoom Video Communications Stock a Good Buy? While sentiment is mixed, the Wall Street consensus on Zoom Video Communications (ZM) is a Moderate Buy. Among the 24 analysts covering the stock over the past three months, 9 rate it a Buy, 13 recommend Hold, and only 1 suggests a Sell. ZM's average stock price target of $89.45 implies an upside potential of approximately 14.5% from the current share price. Zoom's Staying Steady and Turning Into a Value Play While Zoom is unlikely to replicate the explosive growth it saw during the pandemic, the company has proven its ability to retain customers, deliver steady growth in remaining performance obligations (RPOs), and monetize effectively, resulting in strong cash generation. Though it may no longer be a pure growth story, Zoom's pristine balance sheet and increasing free cash flow generation make its current valuation appear modest. As a result, the stock is increasingly taking shape as a compelling value play, and for now, I'm leaning bullish.
Time Business News
3 hours ago
- Time Business News
The Future of Business Finance: Trends, Tools, and Transformation
Business finance is undergoing a profound transformation. Once reliant on spreadsheets, ledgers, and in-person banking, modern financial management has embraced cloud computing, AI-driven analytics, digital currencies, and decentralized platforms. As businesses strive to stay competitive in a rapidly changing global economy, the tools and trends shaping finance are evolving at an unprecedented speed. This article explores the future of business finance by examining emerging trends, innovative tools, and the transformational shifts that are redefining how businesses operate and grow. Traditionally, business finance focused on managing capital, cash flow, investments, and risk. It was often siloed within accounting departments and disconnected from strategic decision-making. However, over the past decade, the role of finance has evolved into a more dynamic, technology-driven function central to corporate strategy. Today, financial leaders are expected to deliver real-time insights, align financial planning with long-term goals, and help navigate digital transformation. This shift is primarily powered by enterprise resource planning innovations and a growing recognition that finance is not just about numbers; it's about driving value. One of the most significant trends is the digitization of financial operations. Cloud-based financial software allows businesses to access data in real-time, automate processes, and improve collaboration across departments. Platforms like QuickBooks, Xero, and Oracle NetSuite offer integrated financial management systems for small and large enterprises alike. Cloud finance tools also reduce operational costs, improve data security, and enable remote financial oversight, benefits that became especially crucial during the COVID-19 pandemic. As businesses continue to decentralize and adopt hybrid work models, monitoring financial health digitally will remain essential. Artificial intelligence (AI) and automation are revolutionizing finance. Tools that once required manual data entry and analysis can now process invoices, track expenses, reconcile accounts, and generate financial reports automatically. Robotic process automation (RPA) is being used to streamline repetitive tasks, freeing up finance teams to focus on strategy and analysis. AI also enhances forecasting and budgeting by identifying patterns in financial data, predicting cash flow fluctuations, and providing scenario-based planning models. This level of precision and insight gives businesses a competitive edge in volatile markets. Fintech is no longer a niche; it's a mainstream driver of financial innovation. From peer-to-peer lending and digital banking to blockchain and crypto, fintech has introduced new ways for businesses to access capital, manage payments, and engage with customers. Small businesses, in particular, are benefiting from fintech platforms that provide faster loan approvals, lower fees, and simplified processes. Companies like Stripe, Square, and Revolut are redefining how businesses handle transactions and financial operations. Decentralized finance, or DeFi, is an emerging sector built on blockchain technology that allows businesses to perform financial transactions without traditional intermediaries. Through smart contracts and decentralized applications, companies can borrow, lend, and invest crypto assets securely and transparently. While still evolving and somewhat speculative, DeFi presents the potential to disrupt conventional finance, especially in areas where access to banking is limited. More businesses are exploring how digital assets like cryptocurrencies and tokenized assets can diversify their financial strategies and tap into new capital markets. Environmental, Social, and Governance (ESG) factors are becoming central to financial planning. Investors and stakeholders increasingly demand transparency on sustainability practices and ethical operations. Finance departments now play a key role in measuring ESG performance, allocating funds toward sustainable projects, and reporting on non-financial metrics. Sustainable finance tools help businesses align with regulatory standards, manage climate risk, and access ESG-linked financing options. This trend is not only good for the planet—it's good for business, as ESG-aligned companies often outperform their peers in long-term profitability. As the landscape of business finance evolves, a wide array of tools is emerging to support innovation and efficiency: Cloud ERP Systems : These integrate core business functions, including finance, HR, and supply chain, offering a single source of truth. : These integrate core business functions, including finance, HR, and supply chain, offering a single source of truth. AI-Powered Analytics : Tools like Microsoft Power BI and Tableau turn raw financial data into actionable insights. : Tools like Microsoft Power BI and Tableau turn raw financial data into actionable insights. Digital Payment Platforms : Services like PayPal, Stripe, and Square offer flexible, secure payment processing and are integrated with POS systems. : Services like PayPal, Stripe, and Square offer flexible, secure payment processing and are integrated with POS systems. Cryptocurrency Wallets and Exchanges : Tools like Coinbase and MetaMask allow businesses to hold and transact in digital currencies. : Tools like Coinbase and MetaMask allow businesses to hold and transact in digital currencies. Budgeting and Forecasting Software: Programs like Planful, Anaplan, and Float help businesses plan for future scenarios with data-driven precision. These tools not only increase efficiency but also provide agility, an essential asset in today's uncertain economic environment. The shift in finance isn't just about technology; it's also about people. As financial tools become more advanced, the skills required to manage them are changing. Financial professionals are expected to be tech-savvy, strategic, and data-literate. Finance teams are now partnering closely with IT, marketing, and operations to drive business goals. The role of the CFO is transforming from number cruncher to innovation leader—someone who bridges the gap between financial health and long-term strategy. Upskilling and reskilling will be critical. Businesses are investing in training programs that focus on data analytics, financial modeling, and digital literacy to ensure their finance teams are future-ready. While the future of business finance is promising, it also comes with challenges: Cybersecurity Risks : As more financial data moves online, the risk of cyberattacks increases. Businesses must invest in cybersecurity tools and protocols. : As more financial data moves online, the risk of cyberattacks increases. Businesses must invest in cybersecurity tools and protocols. Regulatory Compliance : New financial technologies bring regulatory uncertainty. Businesses need to stay informed on tax rules, data privacy laws, and financial reporting standards. : New financial technologies bring regulatory uncertainty. Businesses need to stay informed on tax rules, data privacy laws, and financial reporting standards. Integration Complexity : Implementing new tools can be disruptive. Integrating them with legacy systems requires time, planning, and technical expertise. : Implementing new tools can be disruptive. Integrating them with legacy systems requires time, planning, and technical expertise. Data Overload: With so much data available, businesses may struggle to extract meaningful insights without the right tools and talent. Despite these challenges, businesses that invest wisely in financial transformation will be better equipped to navigate disruption and seize new opportunities. The future of business finance is not just digital; it's intelligent, agile, and inclusive. From AI and blockchain to ESG and real-time analytics, the tools and trends shaping finance are driving a shift in how businesses think about money, value, and growth. Finance is no longer a back-office function. It is now a strategic enabler of innovation and resilience. Businesses that embrace these changes by adopting the right tools, developing new skills, and prioritizing compliance and sustainability will lead the next generation of growth in a fast-moving, tech-powered world. TIME BUSINESS NEWS
Yahoo
3 hours ago
- Yahoo
RH (NYSE:RH) Reports Sales Below Analyst Estimates In Q1 Earnings, But Stock Soars 20.3%
Luxury furniture retailer RH (NYSE:RH) fell short of the market's revenue expectations in Q1 CY2025, but sales rose 12% year on year to $814 million. Next quarter's revenue guidance of $904.3 million underwhelmed, coming in 0.7% below analysts' estimates. Its non-GAAP profit of $0.13 per share was significantly above analysts' consensus estimates. Is now the time to buy RH? Find out in our full research report. Revenue: $814 million vs analyst estimates of $819 million (12% year-on-year growth, 0.6% miss) Adjusted EPS: $0.13 vs analyst estimates of -$0.07 (significant beat) Adjusted EBITDA: $106.4 million vs analyst estimates of $104.4 million (13.1% margin, 2% beat) Revenue Guidance for Q2 CY2025 is $904.3 million at the midpoint, below analyst estimates of $910.9 million Operating Margin: 6.9%, in line with the same quarter last year Free Cash Flow was $34.08 million, up from -$10.13 million in the same quarter last year Market Capitalization: $3.35 billion Formerly known as Restoration Hardware, RH (NYSE:RH) is a specialty retailer that exclusively sells its own brand of high-end furniture and home decor. Examining a company's long-term performance can provide clues about its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. With $3.27 billion in revenue over the past 12 months, RH is a small retailer, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and negotiating leverage with suppliers. As you can see below, RH grew its sales at a sluggish 4.2% compounded annual growth rate over the last six years (we compare to 2019 to normalize for COVID-19 impacts). This quarter, RH's revenue grew by 12% year on year to $814 million but fell short of Wall Street's estimates. Company management is currently guiding for a 9% year-on-year increase in sales next quarter. Looking further ahead, sell-side analysts expect revenue to grow 10.2% over the next 12 months, an acceleration versus the last six years. This projection is eye-popping and indicates its newer products will spur better top-line performance. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Over the last two years, RH opened new stores quickly, averaging 2.2% annual growth. This was faster than the broader consumer retail sector. When a retailer opens new stores, it usually means it's investing for growth because demand is greater than supply, especially in areas where consumers may not have a store within reasonable driving distance. Note that RH reports its store count intermittently, so some data points are missing in the chart below. A company's store base only paints one part of the picture. When demand is high, it makes sense to open more. But when demand is low, it's prudent to close some locations and use the money in other ways. Same-store sales gives us insight into this topic because it measures organic growth for a retailer's e-commerce platform and brick-and-mortar shops that have existed for at least a year. RH's demand has been shrinking over the last two years as its same-store sales have averaged 3.6% annual declines. This performance is concerning - it shows RH artificially boosts its revenue by building new stores. We'd like to see a company's same-store sales rise before it takes on the costly, capital-intensive endeavor of expanding its store base. Note that RH reports its same-store sales intermittently, so some data points are missing in the chart below. We were impressed by how significantly RH blew past analysts' EPS expectations this quarter. We were also happy its EBITDA outperformed Wall Street's estimates. On the other hand, its revenue fell short. Overall, this print was mixed but still had some key positives. The stock traded up 19.2% to $211 immediately following the results. Sure, RH had a solid quarter, but if we look at the bigger picture, is this stock a buy? We think that the latest quarter is just one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free.
