Homeowner confused by 'surprise' energy bill after installing solar panels: 'This is the payback I get?'
A confused homeowner whose electricity payments hadn't dropped as much as expected after they installed solar panels was shocked to discover a massive negative balance on their energy bill.
They turned to Reddit to ask whether they were right in assuming that their power company had essentially refunded the built-up value of their solar contribution all at once.
"I just installed solar last September and have noticed my PGE bill hasn't adjusted much due to the electricity I have been generating," the homeowner posted to r/solar. "However, logging into PGE today I see a negative balance. Did they finally catch up and this is the payback I get?"
Along with their post, the OP shared an image showing a negative balance of nearly $1,400. PG&E, or Pacific Gas and Electric Co., is the electricity and natural gas provider for large parts of Northern and Central California.
The homeowner's situation illustrated that, while installing solar panels can drop your energy bill to nearly (or even below) zero, understanding how it works in your area can sometimes get complicated.
EnergySage offers free tools to help simplify the process, from comparing quotes among vetted local installers to taking maximum advantage of incentives and rebates.
In the comments, Redditors agreed that the OP had received their entire solar payout in one lump sum.
"New solar installs in PGE areas are on TOU plans with yearly true-up," one person explained. "The balance on your bill looks like they finally caught up on your billing and you'd been overpaying. Since you've got such a big balance, I'd call them and ask for them to refund your money."
Whatever the reason, the OP was pleased with the outcome.
"Regardless, it was a nice surprise this morning!" they said.
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With electricity production accounting for one-third of all planet-heating pollution generated in the United States, installing solar panels is a great way to help your wallet and the environment. Plus, installing solar panels in conjunction with a home battery system can make your home more resilient in the event of a power outage.
EnergySage offers a free, easy-to-use mapping tool that makes it simple to see what the average solar installation costs in your state and what incentives are available in your area.
The 30% federal tax credit on residential solar installations ends Dec. 31, so if you've been thinking about installing solar panels, the time to act is now.
Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
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9 minutes ago
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e.l.f. Beauty Announces First Quarter Fiscal 2026 Results
Delivered 26th Consecutive Quarter of Net Sales Growth and Market Share Gains OAKLAND, Calif., August 06, 2025--(BUSINESS WIRE)--e.l.f. Beauty (NYSE: ELF) today announced results for the three months ended June 30, 2025. "Our strong Q1 results, including 210 basis points of market share gains, are a continuation of the consistent, category-leading growth we've delivered over the past 26 quarters," said Tarang Amin, e.l.f. Beauty's Chairman and Chief Executive Officer. "The combination of our value proposition, powerhouse innovation and disruptive marketing engine continue to fuel our results. We remain excited by the significant whitespace we see ahead as we strive to make the best of beauty accessible for all." Three Months Ended June 30, 2025 Results For the three months ended June 30, 2025, compared to the three months ended June 30, 2024: Net sales increased 9% to $353.7 million, primarily driven by strength in both our retailer and e-commerce channels, in the US and internationally. Gross margin decreased approximately 215 basis points to 69%, primarily driven by tariffs, partially offset by favorable foreign exchange impacts and mix. Selling, general and administrative ("SG&A") expenses increased 15.3 million to 195.8 million, or 55% of net sales. Adjusted SG&A (SG&A excluding the items identified in the reconciliation table below) increased 12.9 million to $177.3 million, or 50% of net sales. The increase in SG&A is primarily related to an increase in professional fees, retail fixturing and visual merchandising costs, marketing and digital spend, along with increased depreciation and amortization, offset by lower compensation and benefits expense, and operations costs. Other income, net increased $4.9 million to $5.0 million, primarily driven by an increase in foreign currency gains in the period attributable to currency rate fluctuation. Net income was $33.3 million on a GAAP basis. Adjusted net income (net income excluding the items identified in the reconciliation table below) was $51.3 million. Diluted earnings per share were $0.58 on a GAAP basis. Adjusted diluted earnings per share (diluted earnings per share calculated with adjusted net income excluding the items identified in the reconciliation table below) were $0.89. Adjusted EBITDA (EBITDA excluding the items identified in the reconciliation table below) was $87.1 million, or 25% of net sales, up 12% year over year. Liquidity As of June 30, 2025, the Company had $170.0 million in cash and cash equivalents and $256.7 million of long-term debt, as compared to $109.0 million in cash and cash equivalents and $262.2 million of total debt outstanding as of June 30, 2024. Fiscal 2026 Outlook Due to the wide range of potential outcomes related to tariffs, the Company is not providing a full year Fiscal 2026 financial outlook at this time. For the first half of Fiscal 2026, the Company expects the following: Net sales growth above the 9% net sales growth reported in Q1 Adjusted EBITDA margins of approximately 20% as compared to approximately 23% in the first half of Fiscal 2025, primarily due to higher tariff costs Acquisition of rhode Subsequent to quarter end, on August 5, 2025, the Company consummated the acquisition of HRBeauty LLC ("rhode"), a fast-growing, multi-category lifestyle beauty brand founded by Hailey Bieber for $800.0 million at closing, subject to customary adjustments, inclusive of $600.0 million in cash, funded via Term Loan, and $200.0 million of stock, with potential earnout consideration of up to $200.0 million based on the future growth of the brand over a three-year timeframe. Fifth Amendment to Amended Credit Agreement On August 5, 2025, the Company entered into the Fifth Amendment to the Amended and Restated Credit Agreement (the "Fifth Amendment"). The Fifth Amendment, among other things, established a term loan facility in an aggregate principal amount of $600.0 million (the "Term Facility"), made customary changes in connection with adding a term loan facility, increased the maximum permitted consolidated total net leverage ratio financial covenant and increased the interest rate margin for loans under the Company's existing revolving line of credit. The proceeds of the Term Facility were made available to e.l.f. Cosmetics and certain other subsidiaries of the Company to pay a portion of the consideration for the acquisition of rhode. Webcast Details The Company will hold a webcast to discuss the results from its first quarter fiscal 2026 today, August 6, 2025, at 4:30 p.m. Eastern Time. The webcast will be broadcast live at For those unable to listen to the live broadcast, an archived version will be available at the same location. About e.l.f. Beauty e.l.f. Beauty (NYSE: ELF) is fueled by a belief that anything is possible. e.l.f. is a different kind of company that disrupts norms, shapes culture and connects communities, through positivity, inclusivity and accessibility. The mission is clear: to make the best of beauty accessible to every eye, lip and face. e.l.f. Beauty and its brands, e.l.f. Cosmetics, e.l.f. SKIN, Keys Soulcare, Well People, Naturium and rhode, are led by purpose, driven by results and elevated by superpowers. e.l.f. Beauty offers e.l.f. clean and vegan products, all double-certified by PETA and Leaping Bunny as cruelty free, and proudly stands as the first beauty company with Fair Trade Certified™ facilities. With a kind heart at the center of e.l.f.'s ethos, the company donates 2% of net profits to organizations that make positive impacts. Learn more at Note Regarding non-GAAP Financial Measures This press release includes references to non-GAAP measures, including adjusted EBITDA, adjusted SG&A, adjusted net income and adjusted diluted earnings per share. The Company presents these non-GAAP measures because its management uses them as supplemental measures in assessing its operating performance, and believes they are helpful to investors, securities analysts and other interested parties in evaluating the Company's performance. The non-GAAP measures included in this press release are not measurements of financial performance under GAAP and they should not be considered as alternatives to or substitutes for measures of performance derived in accordance with GAAP. In addition, these non-GAAP measures should not be construed as an inference that the Company's future results will be unaffected by unusual or non-recurring items. These non-GAAP measures have limitations as analytical tools, and you should not consider such measures either in isolation or as substitutes for analyzing the Company's results as reported under GAAP. The Company's definitions and calculations of these non-GAAP measures are not necessarily comparable to other similarly titled measures used by other companies due to different methods of calculation. Adjusted EBITDA excludes expense or income related to stock-based compensation, and other non-cash and non-recurring items. Such other non-cash or non-recurring items include amortization of internal-use software costs related to cloud applications, acquisition related costs, and cloud computing ERP implementation costs. Adjusted SG&A excludes expense related to stock-based compensation and other non-recurring items. Such other non-recurring items include other non-recurring cloud computing ERP implementation costs and acquisition related costs. Adjusted effective tax rate is the tax rate when excluding the pre-tax impact of expense or income related to stock-based compensation, other non-cash and non-recurring items, amortization of acquired intangible assets, as well as the related tax impact for these items, calculated utilizing the statutory rate for where the impact was incurred. Adjusted net income excludes expense related to stock-based compensation, other non-recurring items, amortization of acquired intangible assets and the tax impact of the foregoing adjustments. Such other non-recurring items include other non-recurring cloud computing ERP implementation costs and acquisition related costs. Forward-looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws, including those statements relating to the Company's outlook for the first half of Fiscal 2026 under "Fiscal 2026 Outlook" above and those statements that we remain excited by the significant whitespace we see ahead as we strive to make the best of beauty accessible for all. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, actual results and the timing of selected events may differ materially from those expectations. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the risks and uncertainties that are described in the Company's most recent Annual Report on Form 10-K, as updated from time to time in the Company's SEC filings, as well as the Company's ability to effectively compete with other beauty companies; the Company's ability to successfully introduce new products; the Company's ability to attract new retail customers and/or expand business with its existing retail customers; the Company's ability to optimize shelf space at its key retail customers; the loss of any of the Company's key retail customers or if the general business performance of its key retail customers declines; and the Company's ability to effectively manage its SG&A and other expenses. Potential investors are urged to consider these factors carefully in evaluating the forward-looking statements. These forward-looking statements speak only as of the date hereof. Except as required by law, the Company assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future. e.l.f. Beauty, Inc. and subsidiaries Condensed consolidated statements of operations (unaudited) (in thousands, except share and per share data) Three months ended June 30, 2025 2024 Net sales $ 353,739 $ 324,477 Cost of sales 109,198 93,194 Gross profit 244,541 231,283 Selling, general and administrative expenses 195,832 180,575 Operating income 48,709 50,708 Other income, net 5,037 187 Interest expense, net (2,632 ) (3,665 ) Income before provision for income taxes 51,114 47,230 Income tax (provision) benefit (17,803 ) 325 Net income $ 33,311 $ 47,555 Net income per share: Basic $ 0.59 $ 0.85 Diluted $ 0.58 $ 0.81 Weighted average shares outstanding: Basic 56,328,483 55,973,914 Diluted 57,675,035 58,551,423 e.l.f. Beauty, Inc. and subsidiaries Condensed consolidated balance sheets (unaudited) (in thousands, except share and per share data) June 30, 2025 March 31, 2025 June 30, 2024 Assets Current assets: Cash and cash equivalents $ 170,029 $ 148,692 $ 109,034 Accounts receivable, net 173,352 126,010 155,701 Inventory, net 170,379 187,170 199,563 Prepaid expenses and other current assets 88,766 78,688 66,162 Total current assets 602,526 540,560 530,460 Property and equipment, net 39,182 28,787 14,040 Intangible assets, net 203,348 207,698 220,745 Goodwill 340,582 340,582 340,600 Other assets 129,258 130,548 98,987 Total assets $ 1,314,896 $ 1,248,175 $ 1,204,832 Liabilities and stockholders' equity Current liabilities: Current portion of long-term debt $ — $ — $ 102,938 Accounts payable 74,603 72,180 79,989 Accrued expenses and other current liabilities 110,136 104,876 116,878 Total current liabilities 184,739 177,056 299,805 Long-term debt 256,676 256,676 159,234 Deferred tax liabilities 17,009 3,812 7,910 Long-term operating lease obligations 50,351 48,721 33,637 Other long-term liabilities 1,269 1,055 656 Total liabilities 510,044 487,320 501,242 Stockholders' equity: Common stock, par value of $0.01 per share; 250,000,000 shares authorized as of June 30, 2025, March 31, 2025 and June 30, 2024; 56,734,903, 55,730,037 and 56,387,461 shares issued and outstanding as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively 566 556 563 Additional paid-in capital 952,015 942,025 949,817 Accumulated other comprehensive income (loss) 1,207 521 (9 ) Accumulated deficit (148,936 ) (182,247 ) (246,781 ) Total stockholders' equity 804,852 760,855 703,590 Total liabilities and stockholders' equity $ 1,314,896 $ 1,248,175 $ 1,204,832 e.l.f. Beauty, Inc. and subsidiaries Condensed consolidated statements of cash flows (unaudited) (in thousands) Three months ended June 30, 2025 2024 Cash flows from operating activities: Net income $ 33,311 $ 47,555 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 13,192 9,058 Non-cash lease expense 2,843 2,076 Stock-based compensation expense 9,868 12,964 Amortization of debt issuance costs and discount on debt 134 138 Deferred income taxes 14,216 5,108 Other, net 911 (127 ) Changes in operating assets and liabilities: Accounts receivable (46,170 ) (31,815 ) Inventory 18,684 (8,074 ) Prepaid expenses and other assets (16,332 ) (30,500 ) Accounts payable and accrued expenses (1,542 ) (3,107 ) Other liabilities (1,882 ) (1,995 ) Net cash provided by operating activities 27,233 1,281 Cash flows from investing activities: Purchase of property and equipment (7,095 ) (786 ) Other, net (464 ) (93 ) Net cash used in investing activities (7,559 ) (879 ) Cash flows from financing activities: Cash received from issuance of common stock 121 464 Other, net — (56 ) Net cash provided by financing activities 121 408 Effect of exchange rate changes on cash and cash equivalents 1,542 41 Net increase in cash and cash equivalents 21,337 851 Cash and cash equivalents - beginning of period 148,692 108,183 Cash and cash equivalents - end of period $ 170,029 $ 109,034 e.l.f. Beauty, Inc. and subsidiaries Reconciliation of GAAP net income to non-GAAP adjusted EBITDA (unaudited) (in thousands) Three months ended June 30, 2025 2024 Net income $ 33,311 $ 47,555 Interest expense, net 2,632 3,665 Income tax provision (benefit) 17,803 (325 ) Depreciation and amortization 13,192 9,058 EBITDA $ 66,938 $ 59,953 Stock-based compensation 9,868 12,964 Other non-cash and non-recurring items (a) 10,257 4,517 Adjusted EBITDA $ 87,063 $ 77,434 (a) Represents other non-cash or non-recurring items, which include amortization of internal-use software costs related to cloud applications, acquisition related costs, and cloud computing ERP implementation costs. e.l.f. Beauty, Inc. and subsidiaries Reconciliation of GAAP SG&A to non-GAAP adjusted SG&A (unaudited) (in thousands) Three months ended June 30, 2025 2024 Selling, general and administrative expenses $ 195,832 $ 180,575 Stock-based compensation (9,879 ) (12,958 ) Other non-recurring items (a) (8,643 ) (3,204 ) Adjusted selling, general and administrative expenses $ 177,310 $ 164,413 (a) Represents other non-recurring cloud computing ERP implementation costs and acquisition related costs. e.l.f. Beauty, Inc. and subsidiaries Reconciliation of GAAP net income to non-GAAP adjusted net income (unaudited) (in thousands, except share and per share data) Three months ended June 30, 2025 2024 Net income $ 33,311 $ 47,555 Stock-based compensation 9,868 12,964 Other non-recurring items (a) 8,643 3,204 Amortization of acquired intangible assets (b) 4,349 4,349 Tax Impact (c) (4,846 ) (3,754 ) Adjusted net income $ 51,325 $ 64,318 Weighted average number of shares outstanding – diluted 57,675,035 58,551,423 Adjusted diluted earnings per share $ 0.89 $ 1.10 (a) Represents other non-recurring cloud computing ERP implementation costs and acquisition related costs. (b) Represents amortization expense of acquired intangible assets consisting of customer relationships and trademarks. (c) Represents the tax impact of the above adjustments. View source version on Contacts Investors:KC KattenVP, Corporate Development & Investor Relationskkatten@ Media:Sam CritchellVP, Corporate Communicationsscritchell@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
39 minutes ago
- Yahoo
Revolution Medicines Reports Second Quarter 2025 Financial Results and Update on Corporate Progress
Strong execution of two ongoing Phase 3 trials of daraxonrasib; for RASolute 302, company is winding down enrollment in U.S. and expects to complete enrollment of the trial this year FDA Breakthrough Therapy Designations granted for two RAS(ON) inhibitors, daraxonrasib and elironrasib Company entered into $2 billion flexible funding agreement with Royalty Pharma to support bold vision for global development and commercialization Revolution Medicines to hold webcast today at 4:30 p.m. Eastern Time REDWOOD CITY, Calif., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced its financial results for the quarter ended June 30, 2025, and provided an update on corporate progress. The company continues to make meaningful progress on its near-term strategic priorities: Execute pivotal trials with daraxonrasib monotherapy in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) and non-small cell lung cancer (NSCLC) RASolute 302, a global Phase 3 trial of daraxonrasib in patients with previously treated PDAC, continues to enroll well. The company is winding down enrollment in the U.S. while continuing to enroll patients outside the U.S. to support global registration. The company expects to complete enrollment in this trial this year to enable an expected data readout in 2026. The company recently announced that daraxonrasib received Breakthrough Therapy Designation from the U.S. Food and Drug Administration for previously treated metastatic PDAC in patients with KRAS G12 mutations. In RASolve 301, a global Phase 3 trial of daraxonrasib in patients with previously treated NSCLC, the company continues enrolling patients in the U.S. and is now activating trial sites in Europe and Japan. Advance daraxonrasib into earlier line randomized pivotal trials in patients with PDAC and NSCLC The company remains on track to initiate a registrational trial this year with daraxonrasib as first line treatment for patients with metastatic PDAC; this is planned as a three-arm trial comparing daraxonrasib or daraxonrasib plus chemotherapy to chemotherapy. Later this year, the company expects to share the trial design and clinical combination data that informed this planned trial. The company also remains on track to initiate a registrational trial this year with daraxonrasib as adjuvant treatment for patients with resectable PDAC and expects to share the trial design later this year. Based on new clinical data disclosed by the company last quarter indicating that daraxonrasib can be combined productively with pembrolizumab with or without platinum doublet chemotherapy as a first line treatment of patients with RAS mutant NSCLC, the company expects to initiate a Phase 3 registrational trial in this indication in 2026. Generate sufficient data to inform development priorities for the mutant-selective inhibitors elironrasib and zoldonrasib and prepare to initiate one or more pivotal trials either as monotherapy or in a drug combination The company continues to study its mutant-selective inhibitors elironrasib and zoldonrasib as monotherapy and in drug combinations. The company recently reported an updated clinical data set from patients with previously treated KRAS G12C NSCLC treated with elironrasib as monotherapy that showed a highly competitive profile, including differentiated safety and tolerability along with a compelling objective response rate and progression-free survival. The company also showed clinical evidence that elironrasib can be combined productively with pembrolizumab in first line NSCLC patients with an acceptable safety and tolerability profile. Further, the company recently announced that elironrasib received FDA Breakthrough Therapy Designation for the treatment of adult patients with KRAS G12C-mutated locally advanced or metastatic NSCLC who have received prior chemotherapy and immunotherapy but have not been previously treated with a KRAS G12C inhibitor. The company believes this designation is a recognition of the significant unmet medical need and elironrasib's potential to serve these patients. Currently there are no RAS-targeted inhibitors with full FDA approval for treating patients with KRAS G12C NSCLC. For zoldonrasib, clinical data presented in April demonstrated acceptable tolerability and encouraging initial antitumor activity in patients with previously treated KRAS G12D NSCLC, which follows encouraging data reported previously in patients with KRAS G12D PDAC. The company expects to initiate one or more pivotal combination trials in 2026 that incorporate either zoldonrasib or elironrasib. Progress earlier stage pipeline, including advancing next-generation innovations from the company's highly productive discovery organization Clinical development of RMC-5127, a RAS(ON) G12V-selective inhibitor, remains on track to reach a clinic-ready stage in 2025 to enable an expected Phase 1 initiation in 2026. The company also continues to invest in collaborations designed to enhance its discovery efforts, recently announcing a drug discovery collaboration with Iambic Therapeutics, in which Iambic will use its cutting-edge AI capabilities to generate customized models through training with Revolution Medicines' proprietary data. This collaboration aims to enhance Revolution Medicines' lead discovery and optimization processes directed against both current and new drug targets to ensure the company continues building a highly impactful and sustainable pipeline. Grow global commercialization and operational capabilities and advance launch readiness The company recently announced a partnership with Royalty Pharma, which provides $2 billion in committed capital to Revolution Medicines upon achievement of agreed-upon milestones through a flexible mix of synthetic royalty and debt instruments. This flexible funding agreement provides the company with strategic agility and ability to secure the resources needed to advance its ambitious global clinical development and commercialization plans. The company continues to grow its commercial and operational capabilities and increase activities in support of a potential launch. 'As we advance our innovative RAS(ON) inhibitors through late-stage development and prepare for potential commercialization, we are scaling the effort to meet the ever-growing opportunities afforded by our pipeline,' said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. 'With our maturing pipeline, organizational capabilities and recently bolstered financial wherewithal, we are on a path toward becoming a fully integrated, global oncology company with an industry-leading franchise of targeted therapies for patients with RAS-addicted cancers.' Other Corporate Updates Building on recently disclosed clinical data supporting combinations of its RAS(ON) inhibitors with pembrolizumab, a leading PD-1 antibody, the company announced that it had entered into a clinical collaboration with Summit Therapeutics in multiple solid tumor settings to evaluate the safety and efficacy of Revolution Medicines' clinical-stage RAS(ON) inhibitors in combination with Summit Therapeutics' ivonescimab, an innovative PD-1 / VEGF bispecific antibody. Financial Highlights Second Quarter Results Cash Position: Cash, cash equivalents and marketable securities were $2.1 billion as of June 30, 2025. This balance includes receipt of the first $250 million royalty monetization tranche from Royalty Pharma. R&D Expenses: Research and development expenses were $224.1 million for the quarter ended June 30, 2025, compared to $134.9 million for the quarter ended June 30, 2024. The increase in expenses was primarily due to increases in clinical trial expenses and manufacturing expenses for daraxonrasib, zoldonrasib and elironrasib, and personnel-related expenses and stock-based compensation expense related to additional headcount. G&A Expenses: General and administrative expenses were $40.6 million for the quarter ended June 30, 2025, compared to $21.7 million for the quarter ended June 30, 2024. The increase was primarily due to increases in personnel-related expenses and stock-based compensation expense associated with additional headcount, and an increase in commercial preparation activities. Net Loss: Net loss was $247.8 million for the quarter ended June 30, 2025, compared to net loss of $133.2 million for the quarter ended June 30, 2024. Financial GuidanceRevolution Medicines is projecting full year 2025 GAAP net loss guidance of between $1.03 billion and $1.09 billion, which includes estimated non-cash stock-based compensation expense of between $115 million and $130 million. WebcastRevolution Medicines will host a webcast this afternoon, August 6, 2025, at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). To listen to the live webcast, or access the archived webcast, please visit: Following the live webcast, a replay will be available on the company's website for at least 14 days. About Revolution Medicines, Inc. Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company's R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company's RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; and zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor, are currently in clinical development. The company anticipates that RMC-5127, a RAS(ON) G12V-selective inhibitor, will be its next RAS(ON) inhibitor to enter clinical development. Additional development opportunities in the company's pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit and follow us on LinkedIn. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered 'forward-looking statements,' including without limitation statements regarding the company's financial projections and guidance; the company's development opportunities, plans and timelines and its ability to build or advance its portfolio and R&D pipeline; progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of the company's candidates being studied; the company's expectations regarding timing of clinical trial initiation, enrollment and data readouts or disclosures and clinical trial designs; collaborations, including the aims and expected benefits of the Company's collaboration with Iambic; sources of capital, including the availability of capital under the Royalty Pharma arrangement and whether the company achieves the milestones associated with certain payments thereunder. Forward-looking statements are typically, but not always, identified by the use of words such as 'aims,' 'anticipate,' "believe," "estimate," "expect," "plan," 'potential,' 'project,' 'up to,' "will" and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company's development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company's programs' development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company's business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the 'SEC') on August 6, 2025, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events. Revolution Medicines Media & Investor Contact:media@ investors@ REVOLUTION MEDICINES, CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except share and per share data)(unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Operating expenses: Research and development $ 224,134 $ 134,932 $ 429,883 $ 252,953 General and administrative 40,580 21,711 75,591 44,549 Total operating expenses 264,714 156,643 505,474 297,502 Loss from operations (264,714 ) (156,643 ) (505,474 ) (297,502 ) Other income (expense), net: Interest income 22,404 21,487 47,319 45,247 Interest and other income (expense), net (899 ) 16 (909 ) (2,793 ) Change in fair value of warrant liabilities and contingent earn-out shares (4,578 ) 1,907 (2,139 ) 5,812 Total other income, net 16,927 23,410 44,271 48,266 Loss before income taxes (247,787 ) (133,233 ) (461,203 ) (249,236 ) Net loss $ (247,787 ) $ (133,233 ) $ (461,203 ) $ (249,236 ) Net loss per share attributable to common stockholders, basic and diluted $ (1.31 ) $ (0.81 ) $ (2.45 ) $ (1.51 ) Weighted-average common shares used to compute net loss per share, basic and diluted 188,583,288 165,141,936 188,365,805 164,935,542 REVOLUTION MEDICINES, CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, unaudited) June 30, 2025 December 31, 2024 Cash, cash equivalents and marketable securities $ 2,137,171 $ 2,289,299 Working capital (1) 1,991,905 2,163,718 Total assets 2,429,568 2,558,301 Total liabilities 564,199 293,097 Total stockholders' equity 1,865,369 2,265,204 (1) Working capital is defined as current assets less current in to access your portfolio
Yahoo
39 minutes ago
- Yahoo
Motorola Solutions Completes Acquisition of Silvus Technologies Holding Inc.
Adds mobile ad-hoc network leadership and extends company into a multi-billion-dollar, rapidly growing addressable market for drone and unmanned systems CHICAGO, August 06, 2025--(BUSINESS WIRE)--Motorola Solutions (NYSE: MSI) has completed its acquisition of Silvus Technologies Holdings Inc. ("Silvus"), a global leader in mission-critical mobile ad-hoc networks (MANET), based in Los Angeles, California. Silvus' MANET technology is designed to support frontline operations in the most challenging and contested environments, enabling highly secure data, video and voice communications without the need for fixed infrastructure. Their devices mesh together to establish large, scalable and self-healing networks that adapt to continuous mobility. These robust mobile networks connect people, devices and other nodes over distance and at scale, and seamlessly support bandwidth-intensive technologies like video, sensors and drones. "Silvus' advanced solutions for drone and unmanned systems are trusted in the world's most demanding defense environments, and offer vital applications for border security and public safety," said Greg Brown, chairman and CEO, Motorola Solutions. "Their capabilities are an excellent complement to our land mobile radio and video technologies, and we look forward to bringing them to more customers around the world." Autonomous technologies, including drones, vehicles and robots, are increasingly deployed to safely provide a greater distance between soldiers and potential threats. Silvus' technology allows human operators to securely control these systems with extremely low latency, helping to save lives while informing better tactical decisions. Silvus' wide range of customers spans defense agencies, autonomous systems manufacturers, the intelligence community, law enforcement and enterprises globally. Motorola Solutions plans to extend Silvus' reach through its global scale and long-standing relationships with government and public safety customers around the world. "Working with Babak and the Silvus team, we've seen firsthand how their expertise has created truly disruptive communications technology," said Erik Fagan, Partner and Head of Industrial Technology, TJC. "They've built an exceptional company serving a critical need, and we are excited to watch their next successful chapter unfold with Motorola Solutions as a global leader in safety and security." "We have always respected Motorola Solutions' leadership," said Babak Daneshrad, PhD, CEO, Silvus Technologies. "At our core, both our companies are driven by innovation that makes the world safer. Bringing our advanced engineering teams together amplifies our ability to build more powerful solutions to serve more customers globally. I am incredibly optimistic about the future we have with Motorola Solutions." More information about the acquisition will be shared during Motorola Solutions' quarterly conference call with financial analysts at 4 p.m. Central (5 p.m. Eastern) on Aug. 7. The conference call will be webcast live and a replay will be available at Download video and images from the media kit. Transaction Terms Under the terms of the purchase agreement, the consideration for the Silvus acquisition includes $4.4 billion in upfront consideration, comprising approximately $4.38 billion in cash (subject to customary adjustments) and approximately $20 million in restricted stock to certain employee equity holders. The terms of the purchase agreement also include the ability to earn earnout consideration of up to $600 million in the aggregate based on business performance over consecutive twelve-month periods ending in 2027 and 2028. About Motorola Solutions | Solving for safer Safety and security are at the heart of everything we do at Motorola Solutions. We build and connect technologies to help protect people, property and places. Our solutions foster the collaboration that's critical for safer communities, safer schools, safer hospitals, safer businesses, and ultimately, safer nations. Learn more about our commitment to innovating for a safer future for us all at About TJC TJC, formerly known as The Jordan Company, has worked for more than 40 years with CEOs, founders and entrepreneurs across a range of industries including Consumer & Healthcare, Diversified Industrials, Industrial Technology, Aerospace & Defense, Logistics & Supply Chain and Technology & Infrastructure. With $32.0 billion of assets under management as of March 31, 2025, TJC is managed by a senior leadership team that has invested together for over 23 years on over 85 investments. TJC has offices in New York, Chicago, Miami and Stamford. For more information, please visit Motorola Solutions Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of applicable federal securities law. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as "believes," "expects," "intends," "anticipates," "estimates" and similar expressions. Motorola Solutions can give no assurance that any actual or future results or events discussed in these statements will be achieved. Any forward-looking statements represent Motorola Solutions' views only as of today and should not be relied upon as representing Motorola Solutions' views as of any subsequent date. Readers are cautioned that such forward-looking statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from the statements contained in this release. Such forward-looking statements include, but are not limited to, expected benefits of the transaction to Motorola Solutions and the Silvus business, the ability to expand the reach of Silvus' offerings, and our ability to integrate and combine the two companies. Motorola Solutions cautions the reader that the risks and uncertainties, including those in Part I Item 1A of Motorola Solutions' 2024 Annual Report on Form 10-K and in its other U.S. Securities and Exchange Commission ("SEC") filings, which are available for free on the SEC's website at and on Motorola Solutions' website at could cause actual results to differ materially from those estimated or predicted in the forward-looking statements. Many of these risks and uncertainties cannot be controlled by Motorola Solutions and factors that may impact forward-looking statements include, but are not limited to, Motorola Solutions' ability to successfully integrate and operate Silvus and realize the anticipated benefits of the acquisition. Motorola Solutions undertakes no obligation to publicly update any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise. View source version on Contacts Media Contact Alexandra +1 312 965 3968 Investor Contact Tim YocumMotorola +1 847-576-6899
