Victory Capital (VCTR) Q1 2025 Earnings Call May 09, 2025 08:00 AM ET Speaker0 Good morning, and welcome to the Victory Capital First Quarter twenty twenty five Earnings Conference Call. All callers are on a listen only mode. Following the company's prepared remarks, there will be a question and answer session. I will now turn the call over to Mr. Matthew Dennis, Chief of Staff and Director of Investor Relations. Please go ahead, Mr. Dennis. Speaker1 Thank you. Before I turn the call over to David Brown, I ...

Financial Data and Key Metrics Changes - The company reported a consolidated GAAP net loss of $62 million or a negative $1.28 per share for Q1 2025, compared to a net loss of $86 million or a negative $1.84 per share for Q1 2024, indicating an improvement in financial performance [9][10] - The adjusted net loss for Q1 2025 was $8 million or a negative $0.16 per share, compared to an adjusted net loss of $24 million or a negative $0.52 per share for Q1 2024, reflecting a favorable change primarily due to lower losses in LAE [12][13] - The book value per share decreased by $1.23 to a negative $42.22 as of March 31, 2025, from a negative $40.99 as of December 31, 2024, primarily due to the consolidated net loss [13] Business Line Data and Key Metrics Changes - National reported statutory net income of $4 million for Q1 2025, compared to a statutory net loss of $11 million for Q1 2024, driven by lower losses in LAE related to PREPA exposure [15][16] - MBIA Insurance Corp reported statutory net income of $2 million for Q1 2025, compared to a statutory net loss of $35 million for Q1 2024, also due to lower losses in LAE [16][17] - The gross par amount outstanding for National's insured portfolio declined by approximately $500 million from year-end 2024 to about $25 billion as of March 31, 2025 [7] Market Data and Key Metrics Changes - National's leverage ratio of gross par to statutory capital was 27 to 1 at the end of Q1 2025, with total claims paying resources of $1.5 billion and statutory capital surplus exceeding $900 million [8] Company Strategy and Development Direction - The company continues to prioritize resolving National's PREPA exposure, which remains uncertain, and believes that reducing uncertainty regarding PREPA is essential for maximizing shareholder value [7] - The management expressed optimism about the potential resolution of the PREPA situation, indicating that the focus is shifting towards addressing key litigation issues [24] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the complexity of the PREPA situation and emphasized ongoing discussions in Washington, D.C., while expressing cautious optimism about moving into a different phase regarding the resolution [22][24] - The overall portfolio performance is consistent with expectations, with no significant concerns regarding other credits [25] Other Important Information - The corporate segment had total assets of approximately $685 million as of March 31, 2025, including unencumbered cash and liquid assets totaling $378 million [14] Q&A Session Summary Question: What is being done politically to resolve the PREPA situation? - Management highlighted that fixing PREPA is a top priority for Governor Gonzalez and that there are ongoing conversations in D.C. to facilitate resolution, with optimism about moving into a different phase [22][24] Question: Are there concerns about further write-offs in the National portfolio? - Management confirmed that the portfolio is performing within expectations and that PREPA is the primary focus, with no significant concerns about other credits [25]

Assured Guaranty (AGO) Q1 2025 Earnings Call May 09, 2025 08:00 AM ET Speaker0 Good morning, and welcome to the Assured Guaranty Limited First Quarter twenty twenty five Earnings Conference Call. My name is Ezra, and I will be the operator for today's call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask questions. Please note that this event is being recorded. I would now like to turn the conference over to our host, Robert Tucker, Senior Managi ...

FTAI Infrastructure (FIP) Q1 2025 Earnings Call May 09, 2025 08:00 AM ET Speaker0 Good day, and welcome to the First Quarter twenty twenty five FTAI Infrastructure Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. Instructions will be given at that time. As a reminder, this call is being recorded. I would now like to turn the call over to Alan Andrini, Investor Relations. Please go ahead. Speaker ...

1Stdibs.Com (DIBS) Q1 2025 Earnings Call May 09, 2025 08:00 AM ET Speaker0 Thank you for standing by, and welcome to the First Dibs First Quarter twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After today's presentation, there will be an opportunity to ask questions. It is my pleasure to introduce your host, Kevin Laboz, Head of Investor Relations and Corporate Development. Sir, you may begin. Speaker1 Good morning, and welcome to First Dib's ...

Super Group (SGHC) Q1 2025 Earnings Call May 09, 2025 07:45 AM ET Company Participants Nkem Ojougboh - Head of IRNeal Menashe - CEO & Board of DirectorJed Kelly - Managing Director - Equity ResearchNeal Menashe - Chief Executive OfficerClark Lampen - Managing DirectorAlinda Van Wyk - CFO & Director Conference Call Participants Jason Tilchen - Director & Senior Equity research AnalystBernie Mcternan - Senior Research AnalystMike Hickey - Equity Research Analyst Operator Hello, everyone, and thank you for joi ...

Super Group (SGHC) Q1 2025 Earnings Call May 09, 2025 07:45 AM ET Speaker0 Hello, everyone, and thank you for joining the Super Group First Quarter twenty twenty five Earnings Webcast and Conference Call. My name is Lucy, and I will be coordinating your call today. During the presentation, you can register a question by pressing star followed by one on your telephone keypad. I will now hand over to your host, Inkem Ojibow, Head of Investor Relations to begin. Please go ahead. Speaker1 Good morning, everyone ...

Twin Hospitality Group (TWNP) Q1 2025 Earnings Call May 08, 2025 06:00 PM ET Speaker0 Greetings, welcome to Twin Hospitality Group Incorporated First Quarter twenty twenty five Conference Call hosted by Interim Chief Executive Officer and Chief Financial Officer Ken Kulik. At this time, all participants have been placed in a listen only mode. Please note that this conference call is being recorded today, 05/08/2025. After the market closed, Twin Hospitality issued its quarterly financial results via press r ...

Financial Data and Key Metrics Changes - Coinbase reported Q1 2025 revenue of $2 billion, with adjusted EBITDA of $930 million, indicating resilience in a challenging macro environment [5][27] - Transaction revenue was $1.3 billion, down 19% quarter over quarter, while subscription and services revenue grew 9% to an all-time high of $698 million [23][26] - Adjusted net income for Q1 was $527 million, with net income reported at $66 million [27] Business Line Data and Key Metrics Changes - Global derivatives trading volume reached over $800 billion, with a significant market share increase driven by the international exchange [11] - Consumer trading volume decreased to $78 billion, down 17%, while institutional trading volume was $315 billion, down 9% [24] - Stablecoin revenue grew 32% quarter over quarter to $298 million, with USDC market cap hitting an all-time high of $60 billion [13][26] Market Data and Key Metrics Changes - Coinbase secured new licenses in Argentina and India, enhancing its international expansion strategy [14] - The average USDC held in Coinbase products increased by 49% quarter over quarter to $12 billion [13] Company Strategy and Development Direction - Coinbase aims to be the leading financial services platform globally, focusing on multiple customer groups including retail, institutions, and developers [9][21] - The acquisition of Derabit positions Coinbase as the number one crypto derivatives platform globally, enhancing its international trading capabilities [12][32] - The company is focused on building better financial infrastructure to enable economic freedom through cryptocurrency [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and maintaining a long-term product roadmap [28][116] - The dismissal of the SEC lawsuit against Coinbase was highlighted as a significant milestone for the industry [20] - Management anticipates softer crypto trading markets in Q2 due to macro uncertainties but remains committed to growth [28] Other Important Information - Coinbase's total operating expenses were $1.3 billion, up 7%, primarily due to higher variable expenses [27] - The company is exploring further M&A opportunities to solidify its market leadership [110] Q&A Session Summary Question: Any plans on share buybacks? - The board authorized a $1 billion share repurchase program, but the focus is on opportunistic capital deployment [33][34] Question: What are Coinbase's future plans regarding crypto reserve assets? - Coinbase allocates a percentage of net income to strategic investments in crypto assets, with $150 million invested in Q1 [36][37] Question: What opportunities do you see from a growing TAM perspective? - Increased regulatory clarity is expected to benefit Coinbase, allowing it to capture more market share and partner with new entrants [38][44] Question: Can you talk about the Derabit acquisition and its impact? - The acquisition strengthens Coinbase's position in the options market and is expected to enhance profitability [47][49] Question: How does Coinbase view traditional banks entering the crypto space? - Coinbase sees potential partnerships with traditional banks and aims to provide infrastructure solutions for them [62][67] Question: What is Coinbase's long-term vision? - Coinbase aspires to be the number one financial services app globally, focusing on on-chain asset classes [71][73] Question: How does Coinbase plan to navigate different market environments? - The strategy remains consistent regardless of market conditions, with a focus on long-term growth and investment [115][116]

Astrana Health (ASTH) Q1 2025 Earnings Call May 08, 2025 05:30 PM ET Speaker0 Good day, everyone, and welcome to today's Astrana Health First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. Later, you will have an opportunity to ask questions during the question and answer session and instructions will be provided at that time. Today's speakers will be Brandon Sim, President and Chief Executive Officer of Astrana Health and Chand Basho, Chief Operating and ...