VDURA CEO, Ken Claffey, Named to Channel Insider's 2025 AI Leaders in the Channel List
'I'm honored to be recognized alongside other forward-thinking leaders shaping the future of AI in the channel,' said Ken Claffey. 'At VDURA, we view AI not as a passing trend, but as a transformational force, one that demands infrastructure capable of real-time scale, fault resilience, and GPU efficiency. Our software plays a critical role in making AI workloads smarter, faster, and more dependable for our partners and clients.'
Channel Insider created the list to spotlight channel-focused leaders from MSPs, MSSPs, VARs, GSIs, vendors, and other channel businesses who are delivering measurable AI-driven outcomes in cybersecurity, automation, customer support, and operations. The leaders on the list are heavily involved in the strategy and execution of their companies' approach to AI, and all leaders work at organizations directly impacting channel-driven outcomes.
'AI is rapidly changing both the technology available to partners and how partners are delivering value to customers worldwide,' said Victoria Durgin, Managing Editor at Channel Insider. 'We congratulate each honoree for pushing innovation and helping partners stay competitive in an evolving market.'
Read the full list at channelinsider.com.
About VDURA
VDURA builds the world's strongest data platform for AI and high-performance computing, blending flash-first speed with true hyperscale capacity and an industry-leading 12-nines durability commitment. Visit vdura.com for more information.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
3 minutes ago
- Business Wire
XCharge Launches $10 Million Platform to Tokenize Energy Assets
KYLE, Texas--(BUSINESS WIRE)-- XCharge North America, of XCHG Limited (NASDAQ: XCH), today announced its Energy Asset Vault, a blockchain platform designed to transform large-scale energy projects into digital assets with live, verifiable performance data. Through the Energy Asset Vault, utility-scale solar farms, grid-scale battery storage, and EV charging networks like those facilitated by XCharge—which make up a considerable segment of the renewable energy market that is valued at more than $1 trillion annually—will be represented as secure, on-chain real-world asset (RWAs) tokens. These energy assets typically generate predictable revenue from electricity sales, grid services, and charging fees, making them natural candidates for tokenization through digital ownership or economic rights structures. Each project's key performance metrics—such as output, uptime, and revenue—are tracked through real-time digital monitoring. 'Global energy demand is climbing to record highs, driven by AI, electrification, and data center growth. Tokenizing energy assets allows us to connect global capital directly to the projects powering that demand, making the flow of investment faster, more transparent, and ready for the future,' said Simon Hou, Founder and CEO of XCharge. The Vault launches with an initial $10 million allocation from XCharge's own treasury and planned capital market activities, with a roadmap to scale through partnerships with liquidity providers, blockchain networks, and secondary market integrations. Platform Highlights 'Energy projects need more streamlined funding, while stablecoin holders seek transparent, asset-backed opportunities. With our Energy Asset Vault, we're bringing those two worlds together on-chain,' Hou continued. Pilot Program Following the launch of the Energy Asset Vault, XCharge will begin active pilot projects with select partners to tokenize live energy assets, stream real-time performance data to the blockchain, and enable on-chain participation for eligible stakeholders. These pilots will validate the technology, demonstrate transparent reporting, and pave the way for larger-scale rollouts. About XCharge XCharge (NASDAQ: XCH), founded in 2015, is a global leader in integrated EV charging solutions. The Company offers comprehensive EV charging solutions, which primarily include the DC fast chargers and the advanced battery-integrated DC fast chargers as well as its accompanying services. Through a combination of proprietary charging technology, energy storage system technology and accompanying services, XCharge enhances EV charging efficiency and unlocks the value of energy storage and management. Committed to providing innovative and efficient EV charging solutions, XCharge is actively working toward establishing a global green future critical to the Company's long-term growth and development. Safe Harbor Statement This press release contains forward-looking statements made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of issuance, and the company does not undertake any duty to update such information, except as required by law. Participation in the Energy Asset Vault may be subject to jurisdictional eligibility requirements and is not available in all markets.
Business Wire
3 minutes ago
- Business Wire
The Marzetti Company Reports Fourth Quarter and Fiscal Year Results
WESTERVILLE, Ohio--(BUSINESS WIRE)--The Marzetti Company (Nasdaq: MZTI) reported results today for the company's fiscal fourth quarter and fiscal year ended June 30, 2025. Note that effective June 27, 2025, The Marzetti Company is the new name of the former Lancaster Colony Corporation. Consolidated fourth quarter net sales increased 5.0% to a fourth quarter record $475.4 million. Excluding $12.2 million in non-core sales attributed to a temporary supply agreement ('TSA') with Winland Foods, Inc., consolidated net sales increased 2.3%. Retail segment net sales increased 3.1% to $241.6 million. Foodservice segment net sales grew 7.0% to $233.9 million on a reported basis. Excluding the non-core TSA sales, Foodservice segment net sales increased 1.4%. Consolidated gross profit increased $8.5 million to a fourth quarter record $106.1 million. Gross profit margin improved 70 basis points to 22.3% driven by our ongoing cost savings programs and the benefit of a more favorable volume/mix for the Retail segment. SG&A expenses increased $8.9 million to $62.1 million, driven by higher marketing costs as we increased investments to support the growth of our retail brands. Consolidated operating income declined $2.8 million to $38.9 million. In addition to the net impact of the higher gross profit and increased SG&A expenses, consolidated operating income includes restructuring and impairment charges of $5.1 million in the current-year period versus $2.7 million last year. The current-year restructuring and impairment charges primarily relate to our previously announced plans to close our sauce and dressing facility in Milpitas, California. Fourth quarter net income was $1.18 per diluted share versus $1.26 per diluted share last year. Restructuring and impairment charges reduced this year's fourth quarter net income by $0.15 per diluted share compared to $0.08 last year. CEO David A. Ciesinski commented, 'We were pleased to report record sales and gross profit for our fiscal fourth quarter. In the Retail segment, sales growth of 3.1% was led by expanding distribution for our popular Texas Roadhouse TM dinner rolls and new club channel sales for Chick-fil-A ® sauce. Our category-leading New York Bakery TM frozen garlic bread also achieved strong volume gains in the quarter, including contributions from our recently introduced gluten-free Texas Toast. In the Foodservice segment, excluding non-core TSA sales, net sales increased 1.4% driven by inflationary pricing, increased demand from some of our national chain restaurant account customers and sales gains for our branded Foodservice products.' Fourth Quarter Results Consolidated net sales increased 5.0% to a fourth quarter record $475.4 million versus $452.8 million last year. Retail segment net sales grew 3.1% to $241.6 million while the segment's sales volume, measured in pounds shipped, increased 2.1%. Excluding sales attributed to perimeter-of-the-store bakery product lines that we exited in fiscal 2024, specifically our Flatout ® and Angelic Bakehouse ® brands, Retail net sales increased 3.6% and Retail sales volume increased 2.9%. In the Foodservice segment, net sales advanced 7.0% to $233.9 million. Foodservice segment sales include $12.2 million in non-core sales attributed to a TSA with Winland Foods, Inc. that commenced in March 2025 for a period of up to twelve months. The TSA was made in connection with our acquisition of the Winland Foods sauce and dressing production facility located in Atlanta, Georgia. The acquisition was completed in February 2025. Excluding the non-core TSA sales, Foodservice segment net sales improved 1.4% including the benefit of inflationary pricing as the segment's sales volumes, measured in pounds shipped, declined 1.7%. Consolidated gross profit increased $8.5 million to a fourth quarter record $106.1 million driven by our cost savings programs and the benefit of a more favorable volume/mix for the Retail segment. Gross profit margin increased 70 basis points to 22.3%. SG&A expenses increased $8.9 million to $62.1 million, driven by higher marketing costs as we invested to support the growth of our retail brands. SG&A expenses also reflect increased investments in personnel along with $0.5 million in incremental costs attributed to the sauce and dressing plant acquisition. Restructuring and impairment charges of $5.1 million in the current-year quarter include $4.5 million in charges attributed to the planned closure of our sauce and dressing facility in Milpitas, California as part of our ongoing initiative to better optimize our manufacturing network. The $4.5 million consists of impairment charges for personal property and operating lease right-of-use assets; one-time termination benefits; and other costs associated with the pending closure. Production at the facility is expected to conclude during the quarter ending September 30, 2025. In the prior-year quarter, restructuring and impairment charges of $2.7 million were attributed to our decision to exit our perimeter-of-the-store bakery product lines. Consolidated operating income declined $2.8 million to $38.9 million as impacted by the higher SG&A expenses and the $2.4 million increase in restructuring and impairment charges, partially offset by the higher gross profit. Net income decreased $2.3 million to $32.5 million, or $1.18 per diluted share, versus $34.8 million, or $1.26 per diluted share, last year. In the current-year quarter, the restructuring and impairment charges reduced net income by $4.0 million, or $0.15 per diluted share. Incremental SG&A expenditures attributed to the sauce and dressing plant acquisition reduced net income by $0.4 million, or $0.01 per diluted share. In the prior-year quarter, restructuring and impairment charges reduced net income by $2.1 million, or $0.08 per diluted share. Fiscal Year Results For the fiscal year ended June 30, 2025, net sales increased 2.0% to $1.91 billion compared to $1.87 billion a year ago. Net income for the fiscal year totaled $167.3 million, or $6.07 per diluted share, versus the prior-year amount of $158.6 million, or $5.76 per diluted share. The fiscal 2025 results include a noncash settlement charge attributed to the termination of the company's legacy pension plans that reduced net income by $10.8 million, or $0.39 per diluted share. In addition, the fiscal 2025 results account for restructuring and impairment charges that reduced net income by $4.0 million, or $0.15 per diluted share, and incremental SG&A expenditures attributed to our acquisition of the Atlanta-based sauce and dressing production facility that reduced net income by $2.9 million, or $0.11 per diluted share. In fiscal 2024, restructuring and impairment charges reduced net income by $11.4 million, or $0.42 per diluted share. Fiscal 2026 Outlook Mr. Ciesinski commented, 'Looking ahead to fiscal 2026, we anticipate Retail segment sales will continue to benefit from volume growth, with contributions from both our licensing program and our Marzetti ®, New York Bakery TM, and Sister Schubert's ® brands. In the Foodservice segment, we expect sales to be supported by select quick-service restaurant customers in our mix of national chain restaurant accounts, while external factors, including U.S. economic performance and consumer behavior, may impact demand. With respect to our input costs, in aggregate we anticipate a modest level of inflation in fiscal 2026 that we plan to offset through contractual pricing and our cost savings programs as we remain focused on continued margin improvement in the year ahead.' Conference Call on the Web The company's fourth quarter and fiscal year-end conference call is scheduled for this morning, August 21, at 10:00 a.m. ET. Access to a live webcast and subsequent replay of the call is available through a link on the company's website at About the Company The Marzetti Company is a manufacturer and marketer of specialty food products for the retail and foodservice channels. Forward-Looking Statements We desire to take advantage of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 (the 'PSLRA'). This news release contains various 'forward-looking statements' within the meaning of the PSLRA and other applicable securities laws. Such statements can be identified by the use of the forward-looking words 'anticipate,' 'estimate,' 'project,' 'believe,' 'intend,' 'plan,' 'expect,' 'hope' or similar words. These statements discuss future expectations; contain projections regarding future developments, operations or financial conditions; or state other forward-looking information. Such statements are based upon assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, expected future developments; and other factors we believe to be appropriate. These forward-looking statements involve various important risks, uncertainties and other factors, many of which are beyond our control, which could cause our actual results to differ materially from those expressed in the forward-looking statements. Some of the key factors that could cause actual results to differ materially from those expressed in the forward-looking statements include: efficiencies in plant operations and our overall supply chain network; price and product competition; the success and cost of new product development efforts; the lack of market acceptance of new products; changes in demand for our products, which may result from changes in consumer behavior or loss of brand reputation or customer goodwill; the impact of customer store brands on our branded retail volumes; the impact of any laws and regulatory matters affecting our food business, including any additional requirements imposed by the FDA or any state or local government; the extent to which good-fitting business acquisitions are identified, acceptably integrated, and achieve operational and financial performance objectives; inflationary pressures resulting in higher input costs; fluctuations in the cost and availability of ingredients and packaging; adverse changes in freight, energy or other costs of producing, distributing or transporting our products; the reaction of customers or consumers to pricing actions we take to offset inflationary costs; adverse changes in trade policies, including increased tariffs, retaliatory trade measures, or other trade restrictions; dependence on key personnel and changes in key personnel; adequate supply of labor for our manufacturing facilities; stability of labor relations; geopolitical events that could create unforeseen business disruptions and impact the cost or availability of raw materials and energy; dependence on a wide array of critical third parties to support our operations, including contract manufacturers, distributors, logistics providers and IT vendors; cyber-security incidents, information technology disruptions, and data breaches; the potential for loss of larger programs or key customer relationships; capacity constraints that may affect our ability to meet demand or may increase our costs; failure to maintain or renew license agreements; the possible occurrence of product recalls or other defective or mislabeled product costs; the effect of consolidation of customers within key market channels; maintenance of competitive position with respect to other manufacturers; the outcome of any litigation or arbitration; significant shifts in consumer demand and disruptions to our employees, communities, customers, supply chains, production planning, operations, and production processes resulting from the impacts of epidemics, pandemics or similar widespread public health concerns and disease outbreaks; changes in estimates in critical accounting judgments; and risks related to other factors described under 'Risk Factors' in other reports and statements filed by us with the Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (available at Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update such forward-looking statements, except as required by law. Management believes these forward-looking statements to be reasonable; however, you should not place undue reliance on statements that are based on current expectations. Expand THE MARZETTI COMPANY (In thousands) June 30, 2024 ASSETS Current assets: Cash and equivalents $ 161,476 $ 163,443 Receivables 95,817 95,560 Inventories 169,301 173,252 Other current assets 17,037 11,738 Total current assets 443,631 443,993 Net property, plant and equipment 534,543 477,696 Other assets 296,550 285,242 Total assets $ 1,274,724 $ 1,206,931 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 117,962 $ 118,811 Accrued liabilities 68,332 65,158 Total current liabilities 186,294 183,969 Noncurrent liabilities and deferred income taxes 89,935 97,190 Shareholders' equity 998,495 925,772 Total liabilities and shareholders' equity $ 1,274,724 $ 1,206,931 Expand
Business Wire
3 minutes ago
- Business Wire
SelectQuote, Inc. Reports Fourth Quarter of Fiscal Year 2025 Results
OVERLAND PARK, Kan.--(BUSINESS WIRE)--SelectQuote, Inc. (NYSE: SLQT) reported consolidated revenue for the fourth quarter of fiscal year 2025 of $345.1 million compared to consolidated revenue for the fourth quarter of fiscal year 2024 of $307.2 million. Consolidated net income for the fourth quarter of fiscal year 2025 was $12.9 million compared to consolidated net loss for the fourth quarter of fiscal year 2024 of $31.0 million. Finally, consolidated Adjusted EBITDA* for the fourth quarter of fiscal year 2025 was $2.7 million compared to consolidated Adjusted EBITDA* for the fourth quarter of fiscal year 2024 of $14.4 million. Tim Danker, SelectQuote Chief Executive Officer, commented 'The strength of our holistic healthcare services model was broadly exhibited in fiscal 2025, and we firmly believe the years ahead will increasingly drive substantial value for each of our stakeholders. Policyholders and patients will continue to benefit from our information advantage through tailored advice and healthcare solutions, which ultimately result in better health outcomes. Our insurance and healthcare service partners benefit from better treatment fit and adherence, which eliminates waste and serves to ease the historical trend of rising healthcare costs for Americans. Additionally, we believe our shareholders will benefit as SelectQuote's diverse breadth of revenues drive increasing cash flow, which will accelerate and compound with new growth initiatives in the future.' Mr. Danker continued, 'We are proud to have delivered financial results well in excess of our initial expectations for the 3rd consecutive year. Over that period, our Adjusted EBITDA results have outperformed our forecasts by more than 20% each year. Our leadership and workforce have accomplished these results through significant change in Medicare Advantage in each year. We credit the talent and hard work of our people and are exceedingly proud of the track record SelectQuote has built as an agile, innovative and reliable source of value for Americans seeking healthcare that best fits their needs.' * See 'Non-GAAP Financial Measures' below. Segment Results We currently have three reportable segments: 1) Senior, 2) Healthcare Services and 3) Life. The performance measures of the segments include total revenue and Adjusted EBITDA.* Costs of commissions and other services revenue, cost of goods sold-pharmacy revenue, marketing and advertising, selling, general, and administrative, and technical development operating expenses that are directly attributable to a segment are reported within the applicable segment. Indirect costs of revenue, marketing and advertising, selling, general, and administrative, and technical development operating expenses are allocated to each segment based on varying metrics such as headcount. Adjusted EBITDA is our segment profit measure to evaluate the operating performance of our business. We define Adjusted EBITDA as income (loss) before income tax expense (benefit) plus: (i) interest expense, net; (ii) depreciation and amortization; (iii) share-based compensation; (iv) goodwill, long-lived asset, and intangible assets impairments; (v) transaction costs; (vi) loss on disposal of property, equipment and software, net; (vii) other non-recurring expenses and income; (viii) changes in fair value of warrant liabilities. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by revenue. Senior Financial Results The following table provides the financial results for the Senior segment for the periods presented: Operating Metrics Submitted Policies Submitted policies are counted when an individual completes an application with our licensed agent and provides authorization to the agent to submit the application to the insurance carrier partner. The applicant may have additional actions to take before the application will be reviewed by the insurance carrier. The following table shows the number of submitted policies for the periods presented: * See 'Non-GAAP Financial Measures' below. Approved Policies Approved policies represents the number of submitted policies that were approved by our insurance carrier partners for the identified product during the indicated period. Not all approved policies will go in force. The following table shows the number of approved policies for the periods presented: Lifetime Value of Commissions per Approved Policy Lifetime value of commissions per approved policy represents commissions estimated to be collected over the estimated life of an approved policy based on multiple factors, including but not limited to, contracted commission rates, carrier mix and expected policy persistency with applied constraints. The lifetime value of commissions per approved policy is equal to the sum of the commission revenue due upon the initial sale of a policy, and when applicable, an estimate of future renewal commissions. The following table shows the lifetime value of commissions per approved policy for the periods presented: Healthcare Services Financial Results The following table provides the financial results for the Healthcare Services segment for the periods presented: Three Months Ended June 30, Year Ended June 30, (in thousands) 2025 2024 % Change 2025 2024 % Change Revenue $ 214,028 $ 145,223 47 % $ 742,705 $ 478,508 55 % Adjusted EBITDA* 11,853 909 1,204 % 25,387 7,821 225 % Adjusted EBITDA Margin* 6 % 1 % 3 % 2 % Expand Operating Metrics Members The total number of SelectRx members represents the amount of active customers to which an order has been shipped and the prescriptions per day represents the total average prescriptions shipped per business day. These two metrics are the primary drivers of revenue for Healthcare Services. * See 'Non-GAAP Financial Measures' below. The following table shows the total number of SelectRx members as of the periods presented: The total number of SelectRx members increased by 31% as of June 30, 2025, compared to June 30, 2024, due to our strategy to grow SelectRx membership. The following table shows the average prescriptions shipped per day for the periods presented: Combined Senior and Healthcare Services - Consumer Per Unit Economics Combined Senior and Healthcare Services consumer per unit economics represents total MA and MS commissions; other product commissions; other revenues, including revenues from Healthcare Services; and operating expenses associated with Senior and Healthcare Services, each shown per number of approved MA and MS policies over a given time period. Management assesses the business on a per-unit basis to help ensure that the revenue opportunity associated with a successful policy sale is attractive relative to the marketing acquisition cost. Because not all acquired leads result in a successful policy sale, all per-policy metrics are based on approved policies, which is the measure that triggers revenue recognition. The MA and MS commission per MA/MS policy represents the LTV for policies sold in the period. Other commission per MA/MS policy represents the LTV for other products sold in the period, including DVH prescription drug plan, and other products, which management views as additional commission revenue on our agents' core function of MA/MS policy sales. Pharmacy revenue per MA/MS policy represents revenue from SelectRx, and other revenue per MA/MS policy represents revenue from Population Health, production bonuses, marketing development funds, lead generation revenue, and adjustments from the Company's reassessment of its cohorts' transaction prices. Total operating expenses per MA/MS policy represents all of the operating expenses within Senior and Healthcare Services. The revenue to customer acquisition cost ('CAC') multiple represents total revenue as a multiple of total marketing acquisition cost, which represents the direct costs of acquiring leads. These costs are included in marketing and advertising expense within the total operating expenses per MA/MS policy. The following table shows combined Senior and Healthcare Services consumer per unit economics for the periods presented. Based on the seasonality of Senior and the fluctuations between quarters, we believe that the most relevant view of per unit economics is on a rolling 12-month basis. All per MA/MS policy metrics below are based on the sum of approved MA/MS policies, as both products have similar commission profiles. Total revenue per MA/MS policy increased 22% for the twelve months ended June 30, 2025, compared to the twelve months ended June 30, 2024, primarily due to the increase in pharmacy revenue. Total operating expenses per MA/MS policy increased 27% for the twelve months ended June 30, 2025, compared to the twelve months ended June 30, 2024, driven by an increase in cost of goods sold-pharmacy revenue for Healthcare Services due to the growth of the business. Life Financial Results The following table provides the financial results for the Life segment for the periods presented: Operating Metrics Life premium represents the total premium value for all policies that were approved by the relevant insurance carrier partner and for which the policy document was sent to the policyholder and payment information was received by the relevant insurance carrier partner during the indicated period. Because our commissions are earned based on a percentage of total premium, total premium volume for a given period is the key driver of revenue for our Life segment. The following table shows term and final expense premiums for the periods presented: * See 'Non-GAAP Financial Measures' below. Earnings Conference Call SelectQuote, Inc. will host a conference call with the investment community on August 21, 2025, beginning at 8:30 a.m. ET. To register for this conference call, please use this link: After registering, a confirmation will be sent via email, including dial-in details and unique conference call codes for entry. Registration is open through the live call, but to ensure you are connected for the full call we suggest registering at least 10 minutes before the start of the call. The event will also be webcasted live via our investor relations website Non-GAAP Financial Measures This release includes certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. To supplement our financial statements presented in accordance with GAAP and to provide investors with additional information regarding our GAAP financial results, we have presented in this release Adjusted EBITDA, which is a non-GAAP financial measure. This non-GAAP financial measure is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to any similarly titled measure presented by other companies. We define Adjusted EBITDA as net income (loss) before income tax expense (benefit), plus interest expense, depreciation and amortization, changes in fair value of warrant liabilities, and certain add-backs for non-cash or non-recurring expenses, including restructuring and share-based compensation expenses. The most directly comparable GAAP measure is net income (loss) before income tax expense (benefit). We monitor and have presented in this release Adjusted EBITDA because it is a key measure used by our management and Board of Directors to understand and evaluate our operating performance, establish budgets, and develop operational goals for managing our business. In particular, we believe that excluding the impact of these expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core operating performance. Reconciliations of net income (loss) before income tax expense (benefit) to Adjusted EBITDA are presented below beginning on page 12. The Company is unable to provide a quantitative reconciliation of forward-looking Adjusted EBITDA to its most directly comparable GAAP measure without unreasonable effort because it is not possible to predict certain information included in the calculation of such GAAP measure, including the fair value of outstanding warrants to purchase shares of the Company's common stock. The unavailable information could have a significant impact on the Company's GAAP financial results. Forward Looking Statements This release contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as 'may,' 'should,' 'could,' 'predict,' 'potential,' 'believe,' 'will likely result,' 'expect,' 'continue,' 'will,' 'anticipate,' 'seek,' 'estimate,' 'intend,' 'plan,' 'projection,' 'would' and 'outlook,' or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: our reliance on a limited number of insurance carrier partners and any potential termination of those relationships or failure to develop new relationships; existing and future laws and regulations affecting the health insurance market; changes in health insurance products offered by our insurance carrier partners and the health insurance market generally; insurance carriers offering products and services directly to consumers; changes to commissions paid by insurance carriers and underwriting practices; competition with brokers, exclusively online brokers and carriers who opt to sell policies directly to consumers; competition from government-run health insurance exchanges; developments in the U.S. health insurance system; our dependence on revenue from carriers in our senior segment and downturns in the senior health as well as life, automotive and home insurance industries; our ability to develop new offerings and penetrate new vertical markets; risks from third-party products; failure to enroll individuals during the Medicare annual enrollment period; our ability to attract, integrate and retain qualified personnel; our dependence on lead providers and ability to compete for leads; failure to obtain and/or convert sales leads to actual sales of insurance policies; access to data from consumers and insurance carriers; accuracy of information provided from and to consumers during the insurance shopping process; cost-effective advertisement through internet search engines; ability to contact consumers and market products by telephone; global economic conditions, including inflation and tariffs; disruption to operations as a result of future acquisitions; significant estimates and assumptions in the preparation of our financial statements; impairment of goodwill; existing or potential litigation and other legal proceedings or inquiries, including the Department of Justice action alleging violations of the federal False Claims Act; our existing and future indebtedness; our ability to maintain compliance with our debt covenants; access to additional capital; failure to protect our intellectual property and our brand; fluctuations in our financial results caused by seasonality; accuracy and timeliness of commissions reports from insurance carriers; timing of insurance carriers' approval and payment practices; factors that impact our estimate of the constrained lifetime value of commissions per policyholder; changes in accounting rules, tax legislation and other legislation; disruptions or failures of our technological infrastructure and platform; failure to maintain relationships with third-party service providers; cybersecurity breaches or other attacks involving our systems or those of our insurance carrier partners or third-party service providers; our ability to protect consumer information and other data; failure to market and sell Medicare plans effectively or in compliance with laws; and other factors related to our pharmacy business, including manufacturing or supply chain disruptions, access to and demand for prescription drugs, contractual reimbursement rates, and regulatory changes or other industry developments that may affect our pharmacy operations. For a further discussion of these and other risk factors that could impact our future results and performance, see the section entitled 'Risk Factors' in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025 (the 'Annual Report') and subsequent periodic reports filed by us with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.. About SelectQuote: Founded in 1985, SelectQuote (NYSE: SLQT) pioneered the model of providing unbiased comparisons from multiple, highly-rated insurance companies, allowing consumers to choose the policy and terms that best meet their unique needs. Two foundational pillars underpin SelectQuote's success: a strong force of highly-trained and skilled agents who provide a consultative needs analysis for every consumer, and proprietary technology that sources and routes high-quality leads. Today, the Company operates an ecosystem offering high touchpoints for consumers across insurance, pharmacy, and virtual care. With an ecosystem offering engagement points for consumers across insurance, Medicare, pharmacy, and value-based care, the company now has three core business lines: SelectQuote Senior, SelectQuote Healthcare Services, and SelectQuote Life. SelectQuote Senior serves the needs of a demographic that sees around 10,000 people turn 65 each day with a range of Medicare Advantage and Medicare Supplement plans. SelectQuote Healthcare Services is comprised of the SelectRx Pharmacy, a Patient-Centered Pharmacy Home™ (PCPH) accredited pharmacy, SelectPatient Management, a provider of chronic care management services, and Healthcare Select which proactively connects consumers with a wide breadth of healthcare services supporting their needs. Source: SelectQuote, Inc. June 30, 2024 ASSETS CURRENT ASSETS: Cash, cash equivalents, and restricted cash $ 35,733 $ 42,690 Accounts receivable, net of allowances of $11.8 million and $8.2 million, respectively 151,388 150,035 Commissions receivable-current 132,077 119,871 Other current assets 21,844 20,327 Total current assets 341,042 332,923 COMMISSIONS RECEIVABLE—Net 818,751 761,446 PROPERTY AND EQUIPMENT—Net 14,577 18,973 SOFTWARE—Net 15,060 13,978 OPERATING LEASE RIGHT-OF-USE ASSETS 24,635 23,437 INTANGIBLE ASSETS—Net 1,973 10,194 GOODWILL 29,438 29,438 OTHER ASSETS 3,880 3,519 TOTAL ASSETS $ 1,249,356 $ 1,193,908 LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 59,205 $ 36,587 Accrued expenses 13,856 16,904 Accrued compensation and benefits 58,788 57,594 Operating lease liabilities—current 4,820 4,709 Current portion of long-term debt 68,523 45,854 Contract liabilities 698 8,066 Other current liabilities 7,020 4,873 Total current liabilities 212,910 174,587 LONG-TERM DEBT, NET—less current portion 316,589 637,480 DEFERRED INCOME TAXES 37,872 37,478 OPERATING LEASE LIABILITIES 25,982 25,685 OTHER LIABILITIES 80,485 1,877 Total liabilities 673,838 877,107 COMMITMENTS AND CONTINGENCIES PREFERRED STOCK: Senior Non-Convertible Preferred Stock, $0.01 par value, 350,000 shares and no shares issued and outstanding as of June 30, 2025 and June 30, 2024, respectively, current liquidation preference of $367.1 million and $0.0 million as of June 30, 2025 and June 30, 2024, respectively 224,374 — SHAREHOLDERS' EQUITY: Common stock, $0.01 par value 1,728 1,694 Additional paid-in capital 571,605 580,764 Accumulated deficit (222,189 ) (269,769 ) Accumulated other comprehensive income — 4,112 Total shareholders' equity 351,144 316,801 TOTAL LIABILITIES, PREFERRED STOCK, AND SHAREHOLDERS' EQUITY $ 1,249,356 $ 1,193,908 Expand SELECTQUOTE, INC. AND SUBSIDIARIES (Unaudited) (In thousands) Three Months Ended June 30, Year Ended June 30, 2025 2024 2025 2024 REVENUE: Commissions and other services $ 134,503 $ 165,656 $ 797,841 $ 856,923 Pharmacy 210,599 141,552 728,753 464,853 Total revenue 345,102 307,208 1,526,594 1,321,776 OPERATING COSTS AND EXPENSES: Cost of commissions and other services revenue 58,844 64,548 305,127 318,798 Cost of goods sold—pharmacy revenue 182,312 120,644 630,340 405,004 Marketing and advertising 65,283 70,181 319,505 358,858 Selling, general, and administrative 9,594 43,993 164,442 141,042 Technical development 41,591 9,233 38,681 33,524 Total operating costs and expenses 357,624 308,599 1,458,095 1,257,226 INCOME (LOSS) FROM OPERATIONS (12,522 ) (1,391 ) 68,499 64,550 INTEREST EXPENSE, NET (12,226 ) (23,409 ) (79,385 ) (93,551 ) CHANGE IN FAIR VALUE OF WARRANTS 34,181 — 59,525 — OTHER EXPENSE, NET (58 ) (15 ) (128 ) (65 ) INCOME (LOSS) BEFORE INCOME TAX EXPENSE (BENEFIT) 9,375 (24,815 ) 48,511 (29,066 ) INCOME TAX EXPENSE (BENEFIT) (3,493 ) 6,202 931 5,059 NET INCOME (LOSS) $ 12,868 $ (31,017 ) $ 47,580 $ (34,125 ) Senior Non-Convertible Preferred Stock accumulated dividends and accretion $ (16,762 ) $ — $ (22,548 ) $ — NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS PER SHARE: Basic $ (0.02 ) $ (0.18 ) $ 0.14 $ (0.20 ) Diluted $ (0.02 ) $ (0.18 ) $ 0.01 $ (0.20 ) WEIGHTED-AVERAGE COMMON STOCK OUTSTANDING USED IN PER SHARE AMOUNTS: Basic 184,201 169,204 176,148 168,519 OTHER COMPREHENSIVE LOSS NET OF TAX: Change in cash flow hedge — (2,364 ) (4,112 ) (9,567 ) OTHER COMPREHENSIVE LOSS — (2,364 ) (4,112 ) (9,567 ) COMPREHENSIVE INCOME (LOSS) $ 12,868 $ (33,381 ) $ 43,468 $ (43,692 ) Expand SELECTQUOTE, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands) Three Months Ended June 30, Year Ended June 30, 2025 2024 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 12,868 $ (31,017 ) $ 47,580 $ (34,125 ) Adjustments to reconcile net income (loss) to net cash, cash equivalents, and restricted cash used in operating activities: Depreciation and amortization 4,876 6,407 20,460 24,998 Loss on disposal of property, equipment, and software 80 523 240 536 Impairment of long-lived assets 4,209 — 4,209 — Share-based compensation expense 4,852 3,304 18,357 13,816 Deferred income taxes (2,576 ) 3,314 1,849 1,163 Amortization of debt issuance costs and debt discount 1,367 1,279 5,247 6,142 Write-off of debt issuance costs — — 93 293 Accrued interest payable in kind 713 5,254 14,013 19,577 Change in fair value of warrants (34,181 ) — (59,525 ) — Non-cash lease expense 1,072 404 3,922 2,349 Bad debt expense — — 4,203 — Changes in operating assets and liabilities: Accounts receivable, net 33,491 103,722 (5,555 ) 5,203 Commissions receivable (35,745 ) (48,194 ) (69,510 ) (40,819 ) Other assets (5,938 ) 653 (6,282 ) (1,967 ) Accounts payable and accrued expenses (21,936 ) (28,726 ) 19,226 7,347 Operating lease liabilities (1,137 ) (1,095 ) (4,711 ) (4,897 ) Other liabilities 503 4,167 (5,482 ) 15,620 Net cash provided by (used in) operating activities (37,482 ) 19,995 (11,666 ) 15,236 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (501 ) (268 ) (2,191 ) (3,382 ) Proceeds from sales of property and equipment — — — 253 Purchases of software and capitalized software development costs (2,610 ) (2,219 ) (9,123 ) (8,284 ) Acquisition of business — (3,433 ) — (3,433 ) Net cash used in investing activities (3,111 ) (5,920 ) (11,314 ) (14,846 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from revolving line of credit — — 166,900 — Payments on revolving line of credit — — (166,900 ) — Payments on Term Loans (3,573 ) (8,471 ) (388,216 ) (38,883 ) Proceeds from ABS Notes — — 99,095 — Payments on ABS Notes (4,855 ) — (16,577 ) — Payments on other debt (108 ) (37 ) (312 ) (149 ) Proceeds from common stock options exercised and employee stock purchase plan (14 ) 74 98 81 Proceeds from issuance of Senior Non-Convertible Preferred Stock — — 337,855 — Senior Non-Convertible Preferred Stock issuance costs — — (7,076 ) — Payments of tax withholdings related to net share settlement of equity awards (13 ) (1 ) (5,032 ) (374 ) Payments of debt issuance costs — (758 ) (2,479 ) (1,531 ) Net cash provided by (used in) financing activities (8,563 ) (9,193 ) 17,356 (40,856 ) (49,156 ) 4,882 (5,624 ) (40,466 ) CASH, CASH EQUIVALENTS AND RESTRICTED CASH —Beginning of period 86,222 37,808 42,690 83,156 CASH, CASH EQUIVALENTS AND RESTRICTED CASH —End of period $ 37,066 $ 42,690 $ 37,066 $ 42,690 Expand Three Months Ended June 30, 2025 (in thousands) Senior Healthcare Services Life Total Less: Cost of commissions and other services revenue (32,391 ) (5,536 ) (18,020 ) Cost of goods sold - pharmacy revenue — (180,988 ) — Marketing expense (41,752 ) (1,950 ) (22,813 ) Technical development — (495 ) — Selling, general, and administrative (599 ) (13,206 ) (229 ) Adjusted Segment EBITDA 7,722 11,853 6,922 26,497 Reconciliation of total segment Adjusted EBITDA All other Adjusted EBITDA 950 Corporate (24,753 ) Share-based compensation expense (4,852 ) Transaction costs (1,257 ) Depreciation and amortization (4,876 ) Loss on disposal of property, equipment, and software, net (80 ) Impairment of long-lived assets (4,209 ) Change in fair value of warrants 34,181 Interest expense, net (12,226 ) Income before income tax expense (benefit) $ 9,375 Expand Three Months Ended June 30, 2024 (in thousands) Senior Healthcare Services Life Total Total revenue from reportable segments $ 114,143 $ 145,223 $ 42,074 $ 301,440 Less: Cost of commissions and other services revenue (37,534 ) (5,025 ) (15,287 ) Cost of goods sold - pharmacy revenue — (119,520 ) — Marketing expense (48,138 ) (1,700 ) (19,279 ) Technical development — (835 ) — Selling, general, and administrative (599 ) (17,234 ) (291 ) Adjusted Segment EBITDA 27,872 909 7,217 35,998 Reconciliation of total segment Adjusted EBITDA All other Adjusted EBITDA 2,474 Corporate (24,115 ) Share-based compensation expense (3,304 ) Transaction costs (5,529 ) Depreciation and amortization (6,407 ) Loss on disposal of property, equipment, and software, net (523 ) Interest expense, net (23,409 ) Loss before income tax expense (benefit) $ (24,815 ) Expand SELECTQUOTE, INC. AND SUBSIDIARIES Adjusted EBITDA to Income (Loss) before income tax expense (benefit) Reconciliation (Unaudited) Year Ended June 30, 2025 Total revenue from reportable segments $ 600,393 $ 742,705 $ 172,978 $ 1,516,076 Less: Cost of commissions and other services revenue (201,933 ) (25,163 ) (65,047 ) Cost of goods sold - pharmacy revenue — (625,389 ) — Marketing expense (234,335 ) (8,038 ) (80,269 ) Technical development — (2,187 ) — Selling, general, and administrative (2,454 ) (56,541 ) (993 ) Adjusted Segment EBITDA 161,671 25,387 26,669 213,727 Reconciliation of total segment Adjusted EBITDA All other Adjusted EBITDA 10,597 Corporate (98,070 ) Share-based compensation expense (18,357 ) Transaction costs (14,617 ) Depreciation and amortization (20,460 ) Loss on disposal of property, equipment, and software, net (240 ) Impairment of long-lived assets (4,209 ) Change in fair value of warrants 59,525 Interest expense, net (79,385 ) Income before income tax expense (benefit) $ 48,511 Expand Year Ended June 30, 2024 (in thousands) Senior Healthcare Services Life Total Total revenue from reportable segments $ 655,849 $ 478,508 $ 157,930 $ 1,292,287 Less: Cost of commissions and other services revenue (216,348 ) (17,438 ) (60,017 ) Cost of goods sold - pharmacy revenue — (400,821 ) — Marketing expense (269,867 ) (6,260 ) (76,513 ) Technical development — (915 ) — Selling, general, and administrative (2,890 ) (45,253 ) (1,236 ) Adjusted Segment EBITDA 166,744 7,821 20,164 194,729 Reconciliation of total segment Adjusted EBITDA All other Adjusted EBITDA 14,127 Corporate (91,863 ) Share-based compensation expense (13,816 ) Transaction costs (13,158 ) Depreciation and amortization (24,998 ) Loss on disposal of property, equipment, and software, net (536 ) Interest expense, net (93,551 ) Loss before income tax expense (benefit) $ (29,066 ) Expand
