EPIX DEADLINE ALERT: ROSEN, A LEADING NATIONAL FIRM, Encourages ESSA Pharma Inc. Investors to Secure Counsel Before Important March 25 Deadline in Securities Class Action
SO WHAT: If you purchased ESSA Pharma Inc. securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the ESSA Pharma Inc. class action, go to https://rosenlegal.com/submit-form/?case_id=34133 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 25, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants, throughout the Class Period, failed to disclose to investors that: (1) masofaniten in combination with enzalutamide had no clear efficacy benefit over enzalutamide alone; (2) accordingly, masofaniten in combination with enzalutamide was less effective in treating prostate cancer than defendants had led investors to believe; (3) the M-E Combination Study was unlikely to meet its prespecified Phase 2 primary endpoint; (4) accordingly, defendants had overstated masofaniten's clinical, regulatory, and commercial prospects; and (5) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the ESSA Pharma Inc. class action, go to https://rosenlegal.com/submit-form/?case_id=34133 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
-------------------------------
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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Stock market today: Dow jumps 450 points as S&P 500, Nasdaq log back-to-back records on surging Fed rate cut bets
US stocks climbed on Wednesday with the benchmark S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) notching back-to-back record highs as investors bet almost unanimously on a Federal Reserve rate cut at its next meeting following the latest inflation data. The Dow Jones Industrial Average (^DJI) led the major gauges, closing up above 1%, or more than 450 points. The benchmark S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) pared earlier gains but still rose around 0.3% and 0.1%, respectively. The Dow is once again within striking distance of an all-time high last reached in December. The gains followed a big upswing in stocks on Tuesday after the release of the July Consumer Price Index (CPI) report, with the S&P 500 and Nasdaq both touching new records. Though the data showed inflation had ticked up, it increased less than expected. Treasury Secretary Scott Bessent also on Wednesday called on the Fed to lower rates by 150 to 175 basis points. "I think we could go into a series of rate cuts here, starting with a 50 basis point rate cut in September," he told Bloomberg. The result has been a surge in bets that the Fed would cut interest rates at its September policy meeting, especially in light of recent warning signs the labor market is weakening. By Wednesday afternoon, traders had fully priced in a September cut, according to the CME Group, with bets also rising on a potential "jumbo" cut of 50 basis points. Later this week, investors will get two more snapshots on the state of the economy with the release of the Producer Price Index on Thursday and retail sales data on Friday. In corporate news, Circle (CRCL) fell on Wednesday after the company announced it would sell 10 million shares on the heels of its first earnings report since its explosive public debut. Cava (CAVA) shares also dove after the company issued its first annual sales growth target cut. CoreWeave (CRWV) stock plummeted as the company's operating income guidance fell below expectations and as its cost of debt mounts, despite beating revenue estimates on strong demand for AI. S&P 500, Nasdaq secure more records Wall Street rallied Wednesday, with the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) locking in a second straight day of record closes as traders all but priced in a Federal Reserve rate cut at its next meeting after fresh inflation figures. The Dow Jones Industrial Average (^DJI) led the charge, climbing over 450 points, or above 1%, to close back near record territory. And whhile the S&P 500 and Nasdaq pared earlier gains, they still ended the day up about 0.3% and 0.1%, respectively, extending their record-breaking run. Paramount Skydance surges as much as 60% after UFC deal Paramount Skydance Corporation PSKY (PSKY) surged as much as 60% on Wednesday as traders piled into the newly merged media powerhouse — less than a week after the two companies officially tied the knot. In the few days since its merger, CEO David Ellison has wasted no time capturing investor attention, most notably by striking a seven-year, $7.7 billion deal to make Paramount Skydance the exclusive US home for all UFC events. The deal, announced on Monday, marks a major payday for TKO Group Holdings (TKO), the UFC's parent company, far surpassing its previous agreement with Disney's (DIS) ESPN, which was worth roughly $550 million annually. "With lower leverage following the Paramount/Skydance transactions and Ellison-backed $1.5B primary issuance, PSKY is immediately making use of the improved balance sheet," Ric Prentiss, analyst at Raymond James, wrote in reaction to the report. "This deal is a significant move in and of itself for Paramount+, as the consistent live event schedule should help the service drive greater scale of subscribers and less churn, albeit coming with very substantial annual cost," the analyst added. Apple shares jump on report of AI comeback plans Apple (AAPL) shares spiked to session highs on Wednesday after Bloomberg reported the company is planning its artificial intelligence comeback, anchored by an ambitious lineup of new products that include household robots, a lifelike Siri, a smart speaker with a display, and home-security cameras. The stock later pared gains, trading about 1% higher in the late afternoon. Apple's AI ambitions have stumbled this year, with shares down about 7% even as most of its "Magnificent Seven" peers, aside from Tesla (TSLA), have surged. Analysts cite the company's lack of a clear AI strategy as the biggest disappointment. Ahead of Wednesday's report, Apple CEO Tim Cook hinted at the upcoming devices in an all-hands meeting earlier this month, telling employees, "The product pipeline — which I can't talk about — it's amazing, guys. It's amazing,' he said. 'Some of it you'll see soon. Some of it will come later. But there's a lot to see." Oil prices fall: Here's what's behind the declines Oil prices slipped on Wednesday as investors perceived the risk of an industry prices slipped on Wednesday as investors perceived the risk of an industry glut. Read more here. Ethereum surges to near record as investors bet on 'biggest macro trade' of the next decade Yahoo Finance's Ines Ferré reports: Read more here. Trump's search to replace Fed Chair Powell continues as new report says up to 11 names under consideration The Trump administration is broadening its search for the next Federal Reserve chair, with reports suggesting as many as 11 candidates may be in the running to replace Jerome Powell when his term expires in May, Yahoo Finance's Jennifer Schonberger reports. Schonberger writes: Read the full story here. CoreWeave stock plummets as AI cloud company reports 'deteriorating' operating income outlook CoreWeave (CRWV) stock plummeted 18% Wednesday after the AI data center company reported a disappointing quarterly outlook for its operating income. The company said the previous day that it expects its third quarter operating income to fall between $160 million and $190 million, below the $192 million expected by Wall Street analysts tracked by Bloomberg. At the same time, the company expects interest expense of $350 million to $390 million during that period. DA Davidson analyst Gil Luria told Yahoo Finance in an email Wednesday that "deteriorating operating income guidance highlights the main issue for CoreWeave - their interest expense is higher than their operating income which means they aren't generating enough profit to pay their debt holders." CoreWeave is one of the largest holders of Nvidia's (NVDA) AI chips and rents its data center capacity to Big Tech firms such as Microsoft (MSFT), Meta (META), and Google (GOOG) as they scramble to power their AI ambitions. CoreWeave stock's performance is closely watched as a metric of AI demand. Instacart, Kroger stocks under pressure after Amazon launches same-day grocery delivery Grocery stocks are under pressure, including Instacart (CART), Kroger (KR), Albertsons (ACI), and Sprouts Farmers Market (SFM), after Amazon (AMZN) announced same-day delivery for groceries. On Wednesday, the e-commerce giant said it would start offering same-day perishable grocery delivery in over 1,000 cities. Amazon plans to reach over 2,300 areas across the US by the end of 2025. The service is available for Prime members for free, only on orders over $25. It will cost $12.99 without the membership. In comparison, Instacart has additional service fees but a lower threshold of $10 or more per delivery order. Amazon stock is roughly flat, compared to the nearly 11% decline in Instacart shares and roughly 4% decline for Kroger, Albertsons, and Sprouts. Crypto exchange Bullish prices IPO at $37 per share, valuing company at $5 billion Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer. Yahoo Finance's Jake Conley reports: Read the full story here. Stocks rise at the open US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7%, while the Technology Sector (XLK) climbed more than 0.6%. Treasury yields fall after Bessent urges Fed to lower rates US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. Tencent earnings, trade truce lift China tech stocks As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. VIX fear gauge sinks to lowest level since December The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Bitcoin isn't the reason for crypto's breakout summer The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: Japan's Nikkei hits all-time high The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. China's $11 trillion stock market stages steady resurgence Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. The best points I have heard this morning on CoreWeave CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: Cava crashing Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! S&P 500, Nasdaq secure more records Wall Street rallied Wednesday, with the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) locking in a second straight day of record closes as traders all but priced in a Federal Reserve rate cut at its next meeting after fresh inflation figures. The Dow Jones Industrial Average (^DJI) led the charge, climbing over 450 points, or above 1%, to close back near record territory. And whhile the S&P 500 and Nasdaq pared earlier gains, they still ended the day up about 0.3% and 0.1%, respectively, extending their record-breaking run. Wall Street rallied Wednesday, with the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) locking in a second straight day of record closes as traders all but priced in a Federal Reserve rate cut at its next meeting after fresh inflation figures. The Dow Jones Industrial Average (^DJI) led the charge, climbing over 450 points, or above 1%, to close back near record territory. And whhile the S&P 500 and Nasdaq pared earlier gains, they still ended the day up about 0.3% and 0.1%, respectively, extending their record-breaking run. Paramount Skydance surges as much as 60% after UFC deal Paramount Skydance Corporation PSKY (PSKY) surged as much as 60% on Wednesday as traders piled into the newly merged media powerhouse — less than a week after the two companies officially tied the knot. In the few days since its merger, CEO David Ellison has wasted no time capturing investor attention, most notably by striking a seven-year, $7.7 billion deal to make Paramount Skydance the exclusive US home for all UFC events. The deal, announced on Monday, marks a major payday for TKO Group Holdings (TKO), the UFC's parent company, far surpassing its previous agreement with Disney's (DIS) ESPN, which was worth roughly $550 million annually. "With lower leverage following the Paramount/Skydance transactions and Ellison-backed $1.5B primary issuance, PSKY is immediately making use of the improved balance sheet," Ric Prentiss, analyst at Raymond James, wrote in reaction to the report. "This deal is a significant move in and of itself for Paramount+, as the consistent live event schedule should help the service drive greater scale of subscribers and less churn, albeit coming with very substantial annual cost," the analyst added. Paramount Skydance Corporation PSKY (PSKY) surged as much as 60% on Wednesday as traders piled into the newly merged media powerhouse — less than a week after the two companies officially tied the knot. In the few days since its merger, CEO David Ellison has wasted no time capturing investor attention, most notably by striking a seven-year, $7.7 billion deal to make Paramount Skydance the exclusive US home for all UFC events. The deal, announced on Monday, marks a major payday for TKO Group Holdings (TKO), the UFC's parent company, far surpassing its previous agreement with Disney's (DIS) ESPN, which was worth roughly $550 million annually. "With lower leverage following the Paramount/Skydance transactions and Ellison-backed $1.5B primary issuance, PSKY is immediately making use of the improved balance sheet," Ric Prentiss, analyst at Raymond James, wrote in reaction to the report. "This deal is a significant move in and of itself for Paramount+, as the consistent live event schedule should help the service drive greater scale of subscribers and less churn, albeit coming with very substantial annual cost," the analyst added. Apple shares jump on report of AI comeback plans Apple (AAPL) shares spiked to session highs on Wednesday after Bloomberg reported the company is planning its artificial intelligence comeback, anchored by an ambitious lineup of new products that include household robots, a lifelike Siri, a smart speaker with a display, and home-security cameras. The stock later pared gains, trading about 1% higher in the late afternoon. Apple's AI ambitions have stumbled this year, with shares down about 7% even as most of its "Magnificent Seven" peers, aside from Tesla (TSLA), have surged. Analysts cite the company's lack of a clear AI strategy as the biggest disappointment. Ahead of Wednesday's report, Apple CEO Tim Cook hinted at the upcoming devices in an all-hands meeting earlier this month, telling employees, "The product pipeline — which I can't talk about — it's amazing, guys. It's amazing,' he said. 'Some of it you'll see soon. Some of it will come later. But there's a lot to see." Apple (AAPL) shares spiked to session highs on Wednesday after Bloomberg reported the company is planning its artificial intelligence comeback, anchored by an ambitious lineup of new products that include household robots, a lifelike Siri, a smart speaker with a display, and home-security cameras. The stock later pared gains, trading about 1% higher in the late afternoon. Apple's AI ambitions have stumbled this year, with shares down about 7% even as most of its "Magnificent Seven" peers, aside from Tesla (TSLA), have surged. Analysts cite the company's lack of a clear AI strategy as the biggest disappointment. Ahead of Wednesday's report, Apple CEO Tim Cook hinted at the upcoming devices in an all-hands meeting earlier this month, telling employees, "The product pipeline — which I can't talk about — it's amazing, guys. It's amazing,' he said. 'Some of it you'll see soon. Some of it will come later. But there's a lot to see." Oil prices fall: Here's what's behind the declines Oil prices slipped on Wednesday as investors perceived the risk of an industry prices slipped on Wednesday as investors perceived the risk of an industry glut. Read more here. Oil prices slipped on Wednesday as investors perceived the risk of an industry prices slipped on Wednesday as investors perceived the risk of an industry glut. Read more here. Ethereum surges to near record as investors bet on 'biggest macro trade' of the next decade Yahoo Finance's Ines Ferré reports: Read more here. Yahoo Finance's Ines Ferré reports: Read more here. Trump's search to replace Fed Chair Powell continues as new report says up to 11 names under consideration The Trump administration is broadening its search for the next Federal Reserve chair, with reports suggesting as many as 11 candidates may be in the running to replace Jerome Powell when his term expires in May, Yahoo Finance's Jennifer Schonberger reports. Schonberger writes: Read the full story here. The Trump administration is broadening its search for the next Federal Reserve chair, with reports suggesting as many as 11 candidates may be in the running to replace Jerome Powell when his term expires in May, Yahoo Finance's Jennifer Schonberger reports. Schonberger writes: Read the full story here. CoreWeave stock plummets as AI cloud company reports 'deteriorating' operating income outlook CoreWeave (CRWV) stock plummeted 18% Wednesday after the AI data center company reported a disappointing quarterly outlook for its operating income. The company said the previous day that it expects its third quarter operating income to fall between $160 million and $190 million, below the $192 million expected by Wall Street analysts tracked by Bloomberg. At the same time, the company expects interest expense of $350 million to $390 million during that period. DA Davidson analyst Gil Luria told Yahoo Finance in an email Wednesday that "deteriorating operating income guidance highlights the main issue for CoreWeave - their interest expense is higher than their operating income which means they aren't generating enough profit to pay their debt holders." CoreWeave is one of the largest holders of Nvidia's (NVDA) AI chips and rents its data center capacity to Big Tech firms such as Microsoft (MSFT), Meta (META), and Google (GOOG) as they scramble to power their AI ambitions. CoreWeave stock's performance is closely watched as a metric of AI demand. CoreWeave (CRWV) stock plummeted 18% Wednesday after the AI data center company reported a disappointing quarterly outlook for its operating income. The company said the previous day that it expects its third quarter operating income to fall between $160 million and $190 million, below the $192 million expected by Wall Street analysts tracked by Bloomberg. At the same time, the company expects interest expense of $350 million to $390 million during that period. DA Davidson analyst Gil Luria told Yahoo Finance in an email Wednesday that "deteriorating operating income guidance highlights the main issue for CoreWeave - their interest expense is higher than their operating income which means they aren't generating enough profit to pay their debt holders." CoreWeave is one of the largest holders of Nvidia's (NVDA) AI chips and rents its data center capacity to Big Tech firms such as Microsoft (MSFT), Meta (META), and Google (GOOG) as they scramble to power their AI ambitions. CoreWeave stock's performance is closely watched as a metric of AI demand. Instacart, Kroger stocks under pressure after Amazon launches same-day grocery delivery Grocery stocks are under pressure, including Instacart (CART), Kroger (KR), Albertsons (ACI), and Sprouts Farmers Market (SFM), after Amazon (AMZN) announced same-day delivery for groceries. On Wednesday, the e-commerce giant said it would start offering same-day perishable grocery delivery in over 1,000 cities. Amazon plans to reach over 2,300 areas across the US by the end of 2025. The service is available for Prime members for free, only on orders over $25. It will cost $12.99 without the membership. In comparison, Instacart has additional service fees but a lower threshold of $10 or more per delivery order. Amazon stock is roughly flat, compared to the nearly 11% decline in Instacart shares and roughly 4% decline for Kroger, Albertsons, and Sprouts. Grocery stocks are under pressure, including Instacart (CART), Kroger (KR), Albertsons (ACI), and Sprouts Farmers Market (SFM), after Amazon (AMZN) announced same-day delivery for groceries. On Wednesday, the e-commerce giant said it would start offering same-day perishable grocery delivery in over 1,000 cities. Amazon plans to reach over 2,300 areas across the US by the end of 2025. The service is available for Prime members for free, only on orders over $25. It will cost $12.99 without the membership. In comparison, Instacart has additional service fees but a lower threshold of $10 or more per delivery order. Amazon stock is roughly flat, compared to the nearly 11% decline in Instacart shares and roughly 4% decline for Kroger, Albertsons, and Sprouts. Crypto exchange Bullish prices IPO at $37 per share, valuing company at $5 billion Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer. Yahoo Finance's Jake Conley reports: Read the full story here. Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer. Yahoo Finance's Jake Conley reports: Read the full story here. Stocks rise at the open US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7%, while the Technology Sector (XLK) climbed more than 0.6%. US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7%, while the Technology Sector (XLK) climbed more than 0.6%. Treasury yields fall after Bessent urges Fed to lower rates US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. Tencent earnings, trade truce lift China tech stocks As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. VIX fear gauge sinks to lowest level since December The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Bitcoin isn't the reason for crypto's breakout summer The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: Japan's Nikkei hits all-time high The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. China's $11 trillion stock market stages steady resurgence Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. The best points I have heard this morning on CoreWeave CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: Cava crashing Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! 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Yahoo
6 minutes ago
- Yahoo
dLocal Reports 2025 Second Quarter Financial Results
TPV at record high of US$9.2 billion, growing more than 50% YoY for the third consecutive and Mexico posted solid results, while growth remains fastest in the rest of our geographies, leading to increased operational leverage with Adjusted EBITDA over Gross Profit increasing for the fifth straight quarter (71% for the second quarter of 2025).Continued strong cash flow generation with US$48 million of FCF (free cash flow).Upward adjustment on our full-year 2025 guidance for TPV, Revenue, Gross Profit and Adjusted EBITDA. MONTEVIDEO, Uruguay, Aug. 13, 2025 (GLOBE NEWSWIRE) -- DLocal Limited ('dLocal', 'we', 'us', and 'our') (NASDAQ:DLO), a technology - first payments platform, today announced its financial results for the second quarter ended June 30, 2025. dLocal's management team will host a conference call and audio webcast on August 13, 2025 at 5:00 p.m. Eastern Time. Please click here to pre-register for the conference call and obtain your dial in number and passcode. The live conference call can be accessed via audio webcast at the investor relations section of dLocal's website, at An archive of the webcast will be available for a year following the conclusion of the conference call. The investor presentation will also be filed on EDGAR at 'We are pleased to report another quarter of solid growth and disciplined execution, with significant acceleration across our key financial metrics. These results are a testament to our high-growth, expanding margin, and healthy free cash flow business model, and they demonstrate the substantial value we provide to our merchants,' said Pedro Arnt, CEO of dLocal. Governance changes Board of Directors structure change: we are committed to transitioning to a majority independent Board. We have begun the search for additional independent directors, and we are also constituting Nominating & Corporate Governance and Compensation Committees. Cancellation of treasury shares: we will cancel the treasury shares currently held on our balance sheet, underscoring our ability to deliver strong growth while returning excess capital to shareholders. 2025 guidance update (year-over-year growth rates versus 2024): TPV: 40%-50% YoY Revenue: 30%-40% YoY Gross profit: 27.5%-37.5% YoY Adjusted EBITDA: 40%-50% YoY Our updated guidance reflects the strong performance in the first half of the year and the sustained momentum anticipated across our business. While we remain optimistic, we encourage careful consideration of the outlined risks: The evolving macroeconomic, currency and trade landscape globally and its potential impact on emerging markets. The recent increase in tariffs in Mexico, along with potential trade barriers in other markets. Shifting fiscal regimes in Brazil. The potential for currency devaluations and/or changes in FX regimes in Argentina and Egypt. Second quarter 2025 financial highlights dLocal reports in US dollars and in accordance with IFRS as issued by the IASB Total Payment Volume ('TPV') reached a record US$9.2 billion in the second quarter, up 53% year-over-year compared to US$6.0 billion in the second quarter of 2024 and up 14% compared to US$8.1 billion in the first quarter of 2025. In constant currency, TPV growth for the period would have been 65% year-over-year. Revenues amounted to US$256.5 million, up 50% year-over-year compared to US$171.3 million in the second quarter of 2024 and up 18% compared to US$216.8 million in the first quarter of 2025. The quarter-over-quarter increase, exceeding TPV growth, was driven by a higher share of pay-ins. This positive result was partly offset by Egypt, where we experienced a partial volume loss due to a large merchant implementing redundancies in the market in addition to lower FX spreads as a result of the currency devaluation. In constant currency, revenue growth for the period would have been 63% year-over-year. Gross profit was US$98.9 million in the second quarter of 2025, up 42% compared to US$69.8 million in the second quarter of 2024 and up 17% compared to US$84.9 million in the first quarter of 2025. The quarter-over-quarter comparison was primarily due to (i) performance in Brazil, given a higher share of installment payments and the recovery of one-off processing costs from the previous quarter; (ii) Argentina's strong performance, driven by higher volumes and increase in advancements, fully offsetting the impact of lower FX spreads; and (iii) performance in other Africa & Asia markets, particularly in South Africa, due to volume growth and lower processing costs. This positive result was offset by Egypt, as mentioned previously, and Other LatAm markets, that despite volume growth across various countries, were adversely affected by retry costs invoiced during this quarter in Chile and Colombia. Excluding Chile and Colombia, these markets grew 9%. In constant currency, gross profit growth for the period would have been 55% year-over-year. As a result, gross profit margin was 39% in this quarter, compared to 41% in the second quarter of 2024 and 39% in the first quarter of 2025. Gross profit over TPV was at 1.07% decreasing from 1.16% in the second quarter of 2024 and increasing from 1.05% compared to the first quarter of 2025. Operating profit was US$55.8 million, up 85% compared to US$30.2 million in the second quarter of 2024 and up 22% compared to US$45.8 million in the first quarter of 2025. Operating expenses grew by 9% year-over-year, as we continue to invest in our capabilities. On the sequential comparison, operating expenses increased by 10% quarter-over-quarter, primarily linked to increase in headcount, especially in tech, and higher third party services. As a result, Adjusted EBITDA was US$70.1 million, up 64% compared to US$42.7 million in the second quarter of 2024 and up 21% compared to US$57.9 million in the first quarter of 2025. Adjusted EBITDA margin was 27%, compared to the 25% recorded in the second quarter of 2024 and 27% in the first quarter of 2025. Adjusted EBITDA over gross profit of 71% increased compared to 61% in the second quarter of 2024 and 68% in the first quarter of 2025, marking the fifth consecutive quarter of improvement. EBITDA was US$61.3 million, up 79% compared to US$34.3 million in the second quarter of 2024 and up 20% compared to US$50.9 million in the first quarter of 2025. Net financial result was US$3.8 million loss, compared to a net finance gain of US$28.0 million in the second quarter of 2024 and a net finance gain of US$7.0 million in the first quarter of 2025, as explained in the Net Income section. Our effective income tax rate increased to 16% from 10% last quarter, as a result of higher local-to-local share of pre-tax income. As mentioned in the previous quarter, the effective tax rate in the first quarter of 2025 was favorably impacted by a one-off cost in Brazil. Net income for the second quarter of 2025 was US$42.8 million, or US$0.14 per diluted share, down 7% compared to a profit of US$46.2 million, or US$0.15 per diluted share, for the second quarter of 2024 and down 8% compared to a profit of US$46.7 million, or US$0.15 per diluted share for the first quarter of 2025. During the current period, net income was negatively impacted by the Argentine peso's devaluation on our bond portfolio. Given the shifting market dynamics, we took the opportunity to expatriate funds from Argentina more efficiently, reducing our position by over 80% and reallocating to US treasuries. Free cash flow for the second quarter of 2025 amounted to US$48.4 million, up 156% year-over-year compared to US$19.0 million in the second quarter of 2024 and up 22% compared to US$39.7 million in the first quarter of 2025. The variation quarter-over-quarter is primarily explained by improved operational results, partially offset by higher income tax paid. As of June 30, 2025, dLocal had US$476.9 million in cash and cash equivalents, which includes US$253.8 million of Corporate cash and cash equivalents. The Corporate cash and cash equivalents increased by US$1.1 million from US$252.7 million as of June 30, 2024. When compared to the US$355.9 million Corporate cash and cash equivalents position as of March 31, 2025, it decreased by US$102.1 million quarter-over-quarter, explained by the payment of US$150.0 million in dividends in June 2025. The following table summarizes our key performance metrics: Three months ended June 30 Six months ended June 30 2025 2024 % change 2025 2024 % change Key Performance metrics (In millions of US$ except for %) TPV 9,212 6,035 53 % 17,319 11,346 53 % Revenue 256.5 171.3 50 % 473.2 355.7 33 % Gross Profit 98.9 69.8 42 % 183.8 132.8 38 % Gross Profit margin 39 % 41 % -2p.p 39 % 37 % 2p.p Adjusted EBITDA 70.1 42.7 64 % 128.0 79.5 61 % Adjusted EBITDA margin 27 % 25 % 2p.p 27 % 22 % 5p.p Adjusted EBITDA/Gross Profit 71 % 61 % 10p.p 70 % 60 % 10p.p Profit 42.8 46.2 -7 % 89.5 64.0 40 % Profit margin 17 % 27 % -10p.p 19 % 18 % 1p.p Special note regarding Adjusted EBITDA and Adjusted EBITDA Margin dLocal has only one operating segment. dLocal measures its operating segment's performance by Revenues, Adjusted EBITDA and Adjusted EBITDA Margin, and uses these metrics to make decisions about allocating resources. Adjusted EBITDA as used by dLocal is defined as the profit from operations before financing and taxation for the year or period, as applicable, before depreciation of property, plant and equipment, amortization of right-of-use assets and intangible assets, and further excluding the finance income and costs, impairment gains/(losses) on financial assets, transaction costs, share-based payment non-cash charges,other operating gain/loss,other non-recurring costs, and inflation adjustment. dLocal defines Adjusted EBITDA Margin as the Adjusted EBITDA divided by consolidated revenues. dLocal defines Adjusted EBITDA to Gross Profit Ratio as Adjusted EBITDA divided by Gross Profit. Although Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted EBITDA to Gross Profit Ratio may be commonly viewed as non-IFRS measures in other contexts, pursuant to IFRS 8, ('Operating Segments'), Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted EBITDA to Gross Profit Ratio are treated by dLocal as IFRS measures based on the manner in which dLocal utilizes these measures. Nevertheless, dLocal's Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted EBITDA to Gross Profit Ratio metrics should not be viewed in isolation or as a substitute for net income for the periods presented under IFRS. dLocal also believes that its Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted EBITDA to Gross Profit Ratio metrics are useful metrics used by analysts and investors, although these measures are not explicitly defined under IFRS. Additionally, the way dLocal calculates operating segment's performance measures may be different from the calculations used by other entities, including competitors, and therefore, dLocal's performance measures may not be comparable to those of other entities. Finally, dLocal is unable to present a quantitative reconciliation of forward-looking guidance for Adjusted EBITDA because dLocal cannot reliably predict certain of their necessary components, such as impairment gains/(losses) on financial assets, transaction costs, and inflation adjustment. The table below presents a reconciliation of dLocal's Adjusted EBITDA to net income: $ in thousands Three months ended June 30 Six months ended June 30 2025 2024 2025 2024 Profit for the period 42,808 46,239 89,475 63,957 Income tax expense 8,188 10,060 13,450 17,174 Depreciation and amortization 5,540 4,089 10,602 7,851 Finance income and costs, net 3,785 (28,045) (3,184) (28,344) Share-based payment non-cash charges 4,911 6,776 10,931 11,237 Other operating loss¹ 2,480 1,553 2,902 3,372 Impairment loss / (gain) on financial assets² 1,415 76 1,801 (101) Inflation adjustment 984 1,941 1,869 4,309 Other non-recurring costs - - 123 - Adjusted EBITDA 70,111 42,689 127,969 79,455 Note: 1 The company wrote-off certain amounts mainly related to merchants/processors off-boarded by dLocal. 2 Refer to Note 17 - Trade and Other Receivables in the Financial Statements dated June 30, 2025, for detailed information. dLocal Limited Certain financial information Consolidated Statements of Comprehensive Income for the three-month and six-month periods ended June 30, 2025 and 2024 (All amounts in thousands of U.S. Dollars except share data or as otherwise indicated) Three months ended June 30 Six months ended June 30 2025 2024 2025 2024 Continuing operations Revenues 256,458 171,279 473,217 355,709 Cost of services (157,573) (101,468) (289,453) (222,927) Gross profit 98,885 69,811 183,764 132,782 Technology and development expenses (7,380) (6,408) (14,147) (11,873) Sales and marketing expenses (4,842) (4,505) (11,977) (9,136) General and administrative expenses (27,003) (27,074) (51,327) (51,406) Impairment (loss)/gain on financial assets (1,415) (76) (1,801) 101 Other operating loss (2,480) (1,553) (2,902) (3,372) Operating profit 55,765 30,195 101,610 57,096 Finance income 11,110 29,247 23,338 47,504 Finance costs (14,895) (1,202) (20,154) (19,160) Inflation adjustment (984) (1,941) (1,869) (4,309) Other results (4,769) 26,104 1,315 24,035 Profit before income tax 50,996 56,299 102,925 81,131 Income tax expense (8,188) (10,060) (13,450) (17,174) Profit for the period 42,808 46,239 89,475 63,957 Profit attributable to: Owners of the Group 42,810 46,244 89,440 63,952 Non-controlling interest (2) (5) 35 5 Profit for the period 42,808 46,239 89,475 63,957 Earnings per share (in USD) Basic Earnings per share 0.15 0.16 0.31 0.22 Diluted Earnings per share 0.14 0.15 0.30 0.21 Other comprehensive Income Items that are or may be reclassified to profit or loss: Exchange difference on translation on foreign operations 4,303 (5,604) 7,829 (6,273) Other comprehensive income for the period, net of tax 4,303 (5,604) 7,829 (6,273) Total comprehensive income for the period 47,111 40,635 97,304 57,684 Total comprehensive income for the period is attributable to: Owners of the Group 47,010 40,642 97,184 57,678 Non-controlling interest 101 (7) 120 6 Total comprehensive income for the period 47,111 40,635 97,304 57,684dLocal Limited Certain financial information Consolidated Condensed Interim Statements of Financial Position as of June 30, 2025 and March 31, 2025 (All amounts in thousands of U.S. dollars) Three months ended June 30 June 30, 2025 March 31, 2025 ASSETS Current Assets Cash and cash equivalents 476,939 511,506 Financial assets at fair value through profit or loss 125,526 125,487 Trade and other receivables 487,320 477,349 Derivative financial instruments 691 463 Other assets 29,888 28,001 Total Current Assets 1,120,364 1,142,806 Non-Current Assets Trade and other receivables 14,698 15,518 Deferred tax assets 5,961 5,468 Property, plant and equipment 4,208 4,007 Right-of-use assets 4,124 3,852 Intangible assets 68,165 65,301 Other assets 3,792 4,695 Total Non-Current Assets 100,948 98,841 TOTAL ASSETS 1,221,312 1,241,647 LIABILITIES Current Liabilities Trade and other payables 691,081 614,133 Lease liabilities 1,201 1,107 Tax liabilities 14,330 20,631 Derivative financial instruments 2,555 1,098 Financial liabilities 56,806 54,248 Provisions 544 543 Total Current Liabilities 766,517 691,760 Non-Current Liabilities Deferred tax liabilities 3,918 1,862 Lease liabilities 2,697 2,825 Total Non-Current Liabilities 6,615 4,687 TOTAL LIABILITIES 773,132 696,447 EQUITY Share Capital 587 570 Share Premium 192,820 187,671 Treasury Shares (200,980) (200,980) Capital Reserve 39,241 38,556 Other Reserves (13,190) (17,390) Retained earnings 429,482 536,654 Total Equity Attributable to owners of the Group 447,960 545,081 Non-controlling interest 220 119 TOTAL EQUITY 448,180 545,200 TOTAL EQUITY AND LIABILITIES 1,221,312 1,241,647dLocal Limited Certain interim financial information. Consolidated Statements of Cash flows for the three-month and six-month periods ended June 30, 2025 and 2024 (All amounts in thousands of U.S. dollars) Three months ended June 30 Six months ended June 30 2025 2024 2025 2024 Cash flows from operating activities Profit before income tax 50,996 56,299 102,925 81,131 Adjustments: Interest Income from financial instruments (5,976) (6,473) (11,083) (13,915) Interest charges for lease liabilities 41 44 82 87 Other interests charges 1,568 1,673 2,452 1,800 Finance expense related to derivative financial instruments 3,177 2,446 3,591 12,324 Net exchange differences 9,765 (1,469) 13,908 6,168 Fair value loss/(gain) on financial assets at FVPL (4,791) (22,774) (12,134) (33,589) Amortization of Intangible assets 5,055 3,690 9,639 7,114 Depreciation and disposals of PP&E and right-of-use 485 348 1,188 748 Share-based payment expense, net of forfeitures 4,911 6,776 10,931 11,237 Other operating gain 2,480 1,553 2,902 3,372 Net Impairment loss/(gain) on financial assets 1,415 76 1,801 (101) Inflation adjustment and other financial results 3,180 (5,982) 9,265 (11,874) 72,306 36,207 135,467 64,502 Changes in working capital Increase in Trade and other receivables (13,046) (69,322) 8,036 (102,158) Decrease / (Increase) in Other assets 1,176 (716) 2,200 2,503 Increase / (Decrease) in Trade and Other payables 76,948 67,268 93,294 113,232 Increase / (Decrease) in Tax Liabilities (2,928) 8,870 (1,963) 7,750 Increase / (Decrease) in Provisions 1 (90) 44 (86) Cash (used) / generated from operating activities 134,457 42,218 237,078 85,743 Income tax paid (9,998) (13,409) (17,206) (16,967) Net cash (used) / generated from operating activities 124,459 28,808 219,872 68,776 Cash flows from investing activities Acquisitions of Property, plant and equipment (515) (440) (1,460) (1,226) Additions of Intangible assets (7,919) (4,842) (14,486) (9,864) Acquisition of financial assets at FVPL (92,090) (96,841) (133,464) (96,841) Collections of financial assets at FVPL 86,555 98,544 133,970 98,301 Interest collected from financial instruments 5,976 6,473 11,083 13,915 Payments for investments in other assets at FVPL (2,500) - (12,500) - Net cash (used in) / generated investing activities (10,493) 2,894 (16,857) 4,285 Cash flows from financing activities Repurchase of shares - (81,751) - (81,751) Share-options exercise paid 940 92 940 92 Dividends paid (149,982) - (149,982) - Interest payments on lease liability (41) (44) (82) (87) Principal payments on lease liability (478) 26 (1,141) (69) Finance expense paid related to derivative financial instruments (1,948) (888) (5,080) (11,039) Net proceeds from financial liabilities 6,223 - 12,014 - Interest payments on financial liabilities (3,835) - (6,001) - Other finance expense paid (1,399) (272) (2,113) (399) Net cash used in by financing activities (150,520) (82,837) (151,445) (93,253) Net increase in cash flow (36,554) (51,135) 51,570 (20,192) Cash and cash equivalents at the beginning of the period 511,506 572,357 425,172 536,160 Net (decrease)/increase in cash flow (36,554) (51,135) 51,570 (20,192) Effects of exchange rate changes on inflation and cash and cash equivalents 1,987 10,398 197 15,652 Cash and cash equivalents at the end of the period 476,939 531,620 476,939 531,620 About dLocal dLocal powers local payments in emerging markets, connecting global enterprise merchants with billions of emerging market consumers in more than 40 countries across Africa, Asia, and Latin America. Through the 'One dLocal' platform (one direct API, one platform, and one contract), global companies can accept payments, send pay-outs and settle funds globally without the need to manage separate pay-in and pay-out processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market. Forward-looking statements This press release contains certain forward-looking statements. These forward-looking statements convey dLocal's current expectations or forecasts of future events, including guidance in respect of total payment volume, revenue, gross profit and Adjusted EBITDA. Forward-looking statements regarding dLocal and amounts stated as guidance are based on current management expectations and involve known and unknown risks, uncertainties and other factors that may cause dLocal's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the 'Risk Factors,' 'Forward-Looking Statements' and 'Cautionary Statement Regarding Forward-Looking Statements' sections of dLocal's filings with the U.S. Securities and Exchange Commission. Unless required by law, dLocal undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof. In addition, dLocal is unable to present a quantitative reconciliation of forward-looking guidance for Adjusted EBITDA, because dLocal cannot reliably predict certain of their necessary components, such as impairment gains/(losses) on financial assets, transaction costs, and inflation adjustment. Investor Relations Contact: investor@ Media Contact: media@ 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
6 minutes ago
- Yahoo
AirJoule Technologies Announces Second Quarter 2025 Results
RONAN, Mont., Aug. 13, 2025 (GLOBE NEWSWIRE) -- AirJoule Technologies Corporation (NASDAQ: AIRJ) ('AirJoule Technologies' or the 'Company'), a leading technology platform that unleashes the power of water from air, today announced its second quarter 2025 results. Second Quarter 2025 & Recent Highlights Key Milestones A250™ Product Expands AirJoule® Technology Platform: The A250™ system will be commercialized for the industrial dehumidification market, which is largely serviced by inefficient legacy technologies. The A250™ uses AirJoule®'s technology platform to produce dehumidified air with up to 80% energy savings and up to 60% lower total cost of ownership compared to incumbent dehumidification systems. The AirJoule® technology is a platform that supports differentiated water generation and dehumidification products. The Company is also commercializing the A1000™ water generator, which is designed for on-site production of industrial-scale quantities of distilled water using low-grade waste heat to achieve unprecedented efficiency. Strategic Collaborations to Advance AirJoule® Commercialization: Signed Memorandum of Understanding with a developer of hyperscale data centers to collaborate on the use of AirJoule® to generate pure distilled water from ambient air using low-grade waste heat generated by data center operations. Commenced a strategic project with GE Vernova to explore the integration of AirJoule® technology into GE Vernova products with a focus on the utilization of low-grade waste heat to produce water. Continued Progress on Initial Projects: Announced a project with the City of Hubbard, Texas to recover heat from a geothermal water well and use it to produce pure, distilled water from air. The Company expects to deploy an A250™ system in Q4 2025, which will be the first field deployment demonstrating AirJoule®'s ability to utilize low-grade waste heat to drive its proprietary water separation process. Expect to deliver an A250™ system to Arizona State University ('ASU') in Fall 2025, where it will be used for research and evaluation purposes. ASU operates atmospheric water harvesting test sites in the Phoenix area and will independently evaluate AirJoule®'s performance across a range of real-world conditions, including arid climates and variable humidity levels. Ongoing field deployment of the AirJoule® platform at a government research facility in Dubai. Coordinated through the Company's UAE-based partner TenX Investment, the field deployment is showcasing AirJoule®'s capabilities to potential public and private sector customers in the Middle East region. Appointed Two Board Directors with Expertise in Data Centers and Financial Oversight: Denise Sterling most recently served as Chief Financial Officer of Core Scientific, Inc., a leading data center developer and operator, from 2022 to 2025. Prior to joining Core Scientific in 2021, she held the position of Senior Vice President of FP&A and Finance at Oportun, a financial services company focused on consumer credit, from 2018 to 2021. Ms. Sterling previously served in various tax and finance roles for Visa from 1995 to 2018, including as Senior Vice President of the Global Risk Management team from 2016 to 2018. Thomas Murphy, who will chair the Company's Audit Committee, previously held leadership roles as a Partner in the Audit and Advisory practices at Crowe LLP until his retirement in 2020. During his time at Crowe LLP, Mr. Murphy served as the Partner in Charge of the SEC Commercial Audit Practice, as well as Lead Partner for several prominent private equity clients. He also played a key role in launching the Advisory group's data analytics practice. Prior to joining Crowe in 1993, he served as a Senior Manager at EY. Expanding Operations in Newark, DE: Expanded the manufacturing facility in Newark, DE to enable increased capacity for manufacturing and environmental testing of AirJoule® systems. The Company held a formal ribbon-cutting ceremony to unveil the facility on July 30, 2025. The event was attended by several Delaware elected officials and representatives from GE Vernova, Carrier, and TenX Investment. Attendees were invited to tour the facility and view AirJoule® technology demonstrations. Balance Sheet and Liquidity Private Placement Financing: On April 25, 2025, the Company completed a previously announced $15 million private placement financing (the 'PIPE') led by GE Vernova, which also included new and existing investors. GE Vernova's participation in the PIPE followed its initial investment in AirJoule Technologies of $5 million made in March 2024 in connection with the formation of a 50/50 joint venture with AirJoule Technologies. Net proceeds from the PIPE are being used to accelerate the commercialization of the AirJoule® A250™ and A1000™ systems to meet strong customer interest. Strong Cash Position: Ended the quarter with $30.5 million of cash and cash equivalents with sufficient runway to support the Company's operations through commercialization. Executive Commentary 'In the second quarter we made meaningful progress toward demonstrating the AirJoule® platform's ability to use low-grade waste heat to produce pure, distilled water,' said Matt Jore, Chief Executive Officer of AirJoule Technologies. 'This is an application that we expect to be a significant driver of our future commercial sales. We also cut the ribbon on our state-of-the-art manufacturing facility, which is ready to begin assembling units for the industrial dehumidification market. Throughout 2025, we've laid the groundwork to successfully productize AirJoule®, and I'm proud to report that we have the team, the technology and the capitalization to execute on a successful commercial launch in 2026 and unleash the power of water from air.' Quarterly Report on Form 10-Q AirJoule Technologies' condensed consolidated financial statements and related footnotes are available in its Quarterly Report on Form 10-Q for the period ended June 30, 2025, which is expected to be filed with the Securities and Exchange Commission ('SEC') on August 14, 2025. Earnings Call Webcast AirJoule Technologies will host a conference call to discuss second quarter 2025 results at 8:30 AM ET on Thursday, August 14, 2025. To access the live audio webcast of the conference call, please visit the AirJoule Technologies investor relations website at To participate by phone, dial 877-407-6184 (domestic) or +1-201-389-0877 (international). An archived webcast will be available following the call. About AirJoule Technologies Corporation AirJoule Technologies Corporation (NASDAQ: AIRJ) is a leading technology platform that unleashes the power of water from air. Through its joint venture with GE Vernova and in partnership with Carrier Global Corporation, the Company's purpose is freeing the world of its water and energy constraints by delivering groundbreaking sorption technologies. For more information, visit Forward-Looking Statements The information in this press release includes 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding AirJoule Technologies and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words 'could,' 'may,' 'will,' 'should,' 'anticipate,' 'believe,' 'intend,' 'estimate,' 'expect,' 'project,' the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, AirJoule Technologies expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. AirJoule Technologies cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond AirJoule Technologies' control. These risks include, but are not limited to, our status as an early stage Company with limited operating history, which may make it difficult to evaluate the prospects for our future viability; our initial dependence on revenue generated from a single product; significant barriers we face to deploy our technology; the dependence of our commercialization strategy on our relationships with BASF, Carrier, GE Vernova, and other third parties history of losses, and the other risks and uncertainties described in our SEC filings including the 'Risk Factors' section of our most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. AirJoule Technologies' SEC Filings are available publicly on the SEC's website at and readers are urged to carefully review and consider the various disclosures made in such filings. AIRJOULE TECHNOLOGIES CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2025 2024 (unaudited) Assets Current assets Cash, cash equivalents and restricted cash $ 30,502,711 $ 28,021,748 Due from related party 545,013 2,820,129 Prepaid expenses and other current assets 968,892 613,754 Total current assets 32,016,616 31,455,631 Operating lease right-of-use asset 131,235 147,001 Property and equipment, net 23,872 16,373 Investment in AirJoule, LLC 343,858,688 338,178,633 Other assets 54,482 54,482 Total assets $ 376,084,893 $ 369,852,120 Liabilities and stockholders' equity Current liabilities Accounts payable $ 296,587 $ 79,202 Other accrued expenses 2,197,206 1,720,318 Operating lease liability, current 32,886 30,227 True Up Shares liability — 2,189,000 Total current liabilities 2,526,679 4,018,747 Earnout Shares liability 5,416,000 24,524,000 Subject Vesting Shares liability 1,411,000 7,819,000 Operating lease liability, non-current 107,113 124,002 Deferred tax liability 78,054,508 81,256,047 Total liabilities 87,515,300 117,741,796 Commitments and contingencies (Note 12) Stockholders' equity Preferred stock, $0.0001 par value; 25,000,000 authorized shares and 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024 $ — $ — Class A common stock, $0.0001 par value; 600,000,000 authorized shares and 60,439,593 and 55,928,661 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 6,044 5,593 Additional paid-in capital 72,644,217 53,577,270 Retained earnings 215,919,332 198,527,461 Total stockholders' equity 288,569,593 252,110,324 Total liabilities and stockholders' equity $ 376,084,893 $ 369,852,120 AIRJOULE TECHNOLOGIES CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months EndedJune 30, Six Months EndedJune 30, 2025 2024 2025 2024 Cost and expenses: General and administrative $ 3,751,211 $ 3,211,205 $ 6,537,695 $ 4,024,444 Research and development 401,623 1,050,804 789,542 1,896,961 Sales and marketing 7,794 74,841 22,003 112,566 Transaction costs incurred in connection with business combination — — — 54,693,103 Depreciation and amortization 2,289 1,216 3,877 2,301 Loss from operations (4,162,917 ) (4,338,066 ) (7,353,117 ) (60,729,375 ) Other income (expense): Interest income 283,733 216,480 526,758 242,626 Gain on contribution to AirJoule, LLC — — — 333,500,000 Equity loss from investment in AirJoule, LLC (2,089,667 ) (580,788 ) (4,319,945 ) (607,170 ) Change in fair value of Earnout Shares liability 6,276,000 13,064,000 19,108,000 5,392,000 Change in fair value of True Up Shares liability — (136,000 ) 106,106 133,000 Change in fair value of Subject Vesting Shares liability 934,000 1,759,000 6,408,000 (666,000 ) Gain on settlement of legal fees — 2,207,445 — 2,207,445 Other expense, net (286,818 ) — (285,470 ) — Total other income, net 5,117,248 16,530,137 21,543,449 340,201,901 Income before income taxes 954,331 12,192,071 14,190,332 279,472,526 Income tax benefit (expense) 1,558,882 1,237,824 3,201,539 (84,487,339 ) Net income $ 2,513,213 $ 13,429,895 $ 17,391,871 $ 194,985,187 Weighted average Class A common stock outstanding, basic 59,247,717 49,560,529 57,656,530 43,357,928 Basic net income per share, Class A common stock $ 0.04 $ 0.25 $ 0.30 $ 4.05 Weighted average Class A common stock outstanding, diluted 60,179,241 51,358,716 58,727,169 44,995,234 Diluted net income, per share, Class A common stock $ 0.04 $ 0.24 $ 0.30 $ 3.92 Weighted average Class B common stock outstanding, basic and diluted — 4,759,642 — 4,759,642 Basic net income per share, Class B common stock $ — $ 0.25 $ — $ 4.05 Diluted net income per share, Class B common stock $ — $ 0.24 $ — $ 3.92 AIRJOULE TECHNOLOGIES CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Six Months Ended June 30, 2025 2024 Cash flows from operating activities Net income $ 17,391,871 $ 194,985,187 Adjustment to reconcile net income to cash used in operating activities: Depreciation and amortization 3,877 2,301 Deferred tax expense (benefit) (3,201,539 ) 84,487,339 Amortization of operating lease right-of-use assets 15,766 59,709 Change in fair value of Earnout Shares liability (19,108,000 ) (5,392,000 ) Change in fair value of True Up Shares liability (106,106 ) (133,000 ) Change in fair value of Subject Vesting Shares liability (6,408,000 ) 666,000 Change in fair value of Equity Line Obligation liability 286,819 — Gain on contribution to AirJoule, LLC — (333,500,000 ) Equity loss from investment in AirJoule, LLC 4,319,945 607,170 Non-cash transaction costs in connection with business combination — 53,721,000 Gain on settlement of legal fees — (2,207,445 ) Share-based compensation 2,419,596 150,519 Changes in operating assets and liabilities: Due from related party 2,496,577 — Due to related party — (1,440,000 ) Prepaid expenses and other current assets (355,138 ) (806,153 ) Operating lease liabilities (14,230 ) (56,818 ) Accounts payable 217,385 (3,157,317 ) Accrued expenses, accrued transaction costs and other liabilities (122,308 ) (5,563,053 ) Net cash used in operating activities (2,163,485 ) (17,576,561 ) Cash flows from investing activities Purchases of fixed assets (11,376 ) (6,554 ) Investment in AirJoule, LLC (10,000,000 ) (10,000,000 ) Net cash used in investing activities (10,011,376 ) (10,006,554 ) Cash flows from financing activities Proceeds from the exercise of warrants — 45,760 Proceeds from the exercise of options 99,718 60,170 Proceeds from the PIPE offering, net 14,556,106 — Proceeds from the issuance of common stock pursuant to subscription agreements — 61,750,000 Net cash provided by financing activities 14,655,824 61,855,930 Net increase in cash, cash equivalents and restricted cash 2,480,963 34,272,815 Cash, cash equivalents and restricted cash, beginning of period 28,021,748 375,796 Cash, cash equivalents and restricted cash, end of the period $ 30,502,711 $ 34,648,611 Supplemental non-cash investing and financing activities: Issuance of True Up Shares $ 2,082,894 $ — Deferred offering costs included in accrued expenses and other current liabilities $ 312,375 $ — Initial recognition of True Up Shares liability $ — $ 555,000 Initial recognition of Subject Vesting Shares liability $ — $ 11,792,000 Initial recognition of ROU asset and operating lease liability $ — $ 172,649 Liabilities combined in recapitalization, net $ — $ 8,680,477 Contribution to AirJoule, LLC of license to technology $ — $ 333,500,000 Supplemental cash flow information: Taxes paid $ — $ — Contacts Investor Relations & Media:Tom Divine – Vice President, Investor Relations and Financeinvestors@ 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
