Tonix is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics and diagnostics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio is composed of immunology, rare disease, infectious disease, and central nervous system (CNS) product candidates. Tonix’s immunology portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-15001 which is a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. A Phase 1 study of TNX-1500 is expected to be initiated in the second half of 2022. Tonix’s rare disease portfolio includes TNX-29002 for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the FDA. Tonix’s infectious disease pipeline includes a vaccine in development to prevent smallpox and monkeypox called TNX-8013, next-generation vaccines to prevent COVID-19, and an antiviral to treat COVID-19. Tonix’s lead vaccine candidates for COVID-19 are TNX-1840 and TNX-18504, which are live virus vaccines based on Tonix’s recombinant pox vaccine (RPV) platform. TNX-35005 (sangivamycin, i.v. solution) is a small molecule antiviral drug to treat acute COVID-19 and is in the pre-IND stage of development. TNX-102 SL6, (cyclobenzaprine HCl sublingual tablets), is a small molecule drug being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix expects to initiate a Phase 2 study in Long COVID in the second quarter of 2022. The Company’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL, is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022. Finally, TNX-13007 is a biologic designed to treat cocaine intoxication that is expected to start a Phase 2 trial in the second quarter of 2022. TNX-1300 has been granted Breakthrough Therapy Designation by the FDA.
Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
1Q25 Reported With Product Updates. Tonix reported a 1Q25 loss of $16.8 million or $(2.84) per share, a smaller loss than we had estimated. Product sales were $2.4 million, slightly lower than the $2.6 million in 4Q24. Gross margins were 61%, an improvement over the 54% seen in 4Q24. TNX-102 SL has a PDUFA date of August 15, and preparations continue for launch in 4Q25. Cash on hand on March 31 was $131.7 million.
Anticipation Builds For TNX-102 SL PDUFA Date. We believe the two Phase 3 trials support product approval for TNX-102 SL in its fibromyalgia indication. As we have described in previous Research Notes, fibromyalgia is currently treated with a combination of pain relievers (opioid and neurological), antidepressants, and insomnia drugs. TNX-102 SL could become the first drug to relieve all major symptoms without side effects from each class of drug.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit ir.luckystrikeent.com.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
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Lackluster Q3 Results. The company reported Q3 revenue of $339.9 million and adj. EBITDA of $117.3 million, both of which were lower than our estimates of $360.0 million and $130 million, respectively. Notably, the soft results were largely driven by a decrease in corporate events in California and Seattle and partially offset by a high single-digit increase in food sales and stable retail and league business. While Q3 results were lackluster, we believe the company will gain momentum heading into the summer.
Pulls guidance. While the company did not provide guidance due to economic uncertainty, we believe that the company will demonstrate solid results in the coming quarters, supported by recent acquisitions, new centers, and strong sales in its Summer Season Pass program. Importantly, management highlighted its focus on expense management, with capital expenditures down 20% year to date, which is expected to continue into next year.
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Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q1 results. The company reported Q1 revenue of $221.0 million and adj. EBITDA of $42.1 million. The results were below our estimates of $235.0 million in revenue and $49.3 million in adj. EBITDA. Notably, the results did align with management’s previous commentary that the company would execute favorable year-over-year revenue growth in the quarter (revenue was up 19% and adj. was up 56%).
Testing final expense offering. The company recently launched GoHealth Protect, which is its guaranteed acceptance life insurance (final expense) offering. For now, the company is testing out which products fit best with consumers and what the demand function looks like across the Medicare eligible population. Importantly, as the final expense business scales, we believe it could help to balance out the company’s quarterly revenue profile, which is currently concentrated around Q4 and Q1.
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DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Refined Model. We had an opportunity to dig deep into our model with DLH management. As a result of our discussion, we revised our model. While minor, the changes do impact quarterly EPS, so we believe a model revision is instructional for investors.
Changes. We increased our D&A expense in both the third and fourth quarters to $4.25 million from our prior $4 million. In addition, we increased our fourth quarter interest expense to $3.75 million from a prior $3.5 million. We kept our tax rate at 30%. As a result of the changes, our third quarter net income and EPS declined to $350,000 and $0.02, compared to $525,000 and $0.04, respectively, and our fourth quarter declines to $350,000 and $0.02 from $700,000 and $0.05, respectively. For the full year, EPS is now $0.19 versus a prior $0.22.
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In a major geopolitical and economic announcement, the White House on Tuesday revealed that Saudi Arabia has pledged to invest $600 billion in a series of U.S.-based initiatives and partnerships, following President Donald Trump’s high-profile visit to Riyadh. The commitment, announced during a U.S.-Saudi investment forum, marks one of the largest foreign investment packages ever pledged to the United States and comes as part of renewed diplomatic and economic ties between the two nations.
During his speech at the forum, President Trump praised the Saudi leadership and emphasized a deepening strategic alliance. “This historic investment is not just a sign of trust in the American economy — it’s a cornerstone of a new era of collaboration that spans defense, technology, and economic innovation,” Trump said.
The centerpiece of the announcement is a nearly $142 billion defense agreement that includes the transfer of advanced military equipment and services from more than a dozen U.S. defense firms to the Saudi kingdom. The figure is nearly double Saudi Arabia’s 2025 defense budget, highlighting the scale of the partnership. The White House did not specify when the deal would be completed, but it’s expected to unfold over several years.
In a notable and controversial move, Trump also announced that he will order the removal of all remaining U.S. sanctions on Syria, claiming the decision aims to “give them a chance at greatness.” The statement drew mixed reactions in Washington and abroad, as it represents a major shift in U.S. foreign policy.
Beyond defense, the agreement includes significant investment in technology and infrastructure. DataVolt, a Saudi digital infrastructure firm, is committing $20 billion to build AI-focused data centers across the U.S., positioning itself as a key player in the growing artificial intelligence arms race.
Additional commitments total $80 billion in joint investments between U.S. tech giants such as Google, Oracle, Salesforce, AMD, and Uber, and Saudi firms. These funds will support a mix of projects both in the U.S. and Saudi Arabia, aligning with Riyadh’s Vision 2030 strategy to diversify its economy and reduce its dependence on oil.
Crown Prince Mohammed bin Salman said the goal is to eventually raise total bilateral cooperation to $1 trillion. However, economists caution that executing such an ambitious investment plan may prove difficult, especially as Saudi Arabia grapples with its own budgetary constraints, fueled by fluctuating oil prices and expansive domestic spending.
Still, the symbolic and political significance of this deal cannot be understated. It signals a renewed U.S.-Saudi partnership that is likely to influence regional dynamics and global investment flows in the years ahead.
CHICAGO, May 13, 2025 (GLOBE NEWSWIRE) — GoHealth, Inc. (NASDAQ: GOCO) (“GoHealth” or the “Company”), a leading health insurance marketplace and Medicare-focused digital health company, today announced financial results for the three months ended March 31, 2025.
First Quarter Highlights
First quarter 2025 net revenues of $221.0 million, a 19.1% increase compared to $185.6 million in the prior year period.
First quarter 2025 net loss of $9.8 million, a 54.2% improvement compared to a net loss of $21.3 million in the prior year period.
First quarter 2025 Adjusted EBITDA1 of $42.1 million, a 56.4% increase compared to $26.9 million in the prior year period.
First quarter 2025 Submissions2 were 303,026, a 40.2% increase compared to 216,148 Submissions in the prior year period, primarily driven by strong contributions from GoHealth’s internal captive agents.
First quarter 2025 Direct Operating Cost per Submission3 was $522, an 18.4% improvement compared to $640 in the prior year period.
Launched GoHealth Protect, a suite of products offered to cover unexpected life events, with the expansion into guaranteed acceptance life insurance as the inaugural product.
“Our achievements in the first quarter demonstrate substantial progress in key financial metrics, including revenue, Adjusted EBITDA, margin enhancement, and capital efficiency,” said Vijay Kotte, CEO of GoHealth. “We are continuously refining our platform, tools, product offerings and technology to provide consumers with a more personalized and higher-quality experience as they navigate complex coverage options. We believe these investments are not only elevating the consumer journey but also driving better outcomes across our business. With the recent launch of GoHealth Protect, we are diversifying our product offerings with a curated marketplace of coverage options. By expanding into guaranteed acceptance life insurance, we seek to extend the value of customer relationships, bolster unit economics, and further our mission of delivering peace of mind to consumers.”
“We delivered strong year-over-year growth, reduced customer acquisition costs, and improved operating leverage. At the same time, we continued to invest selectively in high-return initiatives, including the launch of our GoHealth Protect life insurance,” said Brendan Shanahan, CFO of GoHealth. “As this new offering scales, we expect it to enhance our ability to generate cash flow throughout the year while driving down acquisition costs across the business. A combination of disciplined execution and smart investment will position us well for continued momentum in the quarters ahead.”
(1)
Adjusted EBITDA is a non-GAAP measure. For a definition of Adjusted EBITDA and a reconciliation to the most comparable GAAP measure, please see below.
(2)
Number of Submissions is an operating metric. For a definition of Submissions, please see below.
(3)
Direct Operating Cost per Submission is an operating metric. For a definition of Direct Operating Cost per Submission and an explanation of its calculation, please see below.
Conference Call Details
The Company will host a conference call today, Tuesday, May 13, 2025 at 8:00 a.m. (ET) to discuss its financial results. A live audio webcast of the conference call will be available via GoHealth’s Investor Relations website, https://investors.gohealth.com/. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call.
About GoHealth, Inc.
GoHealth is a leading health insurance marketplace and Medicare-focused digital health company whose purpose is to compassionately ensure consumers’ peace of mind when making healthcare decisions so they can focus on living life. For many of these consumers, enrolling in a health insurance plan is confusing and difficult, and seemingly small differences between health plans may lead to significant out-of-pocket costs or lack of access to critical providers and medicines. GoHealth’s proprietary technology platform leverages modern machine-learning algorithms, powered by over two decades of insurance purchasing behavior, to reimagine the process of matching a health plan to a consumer’s specific needs. Its unbiased, technology-driven marketplace coupled with highly skilled licensed agents has facilitated the enrollment of millions of consumers in Medicare plans since GoHealth’s inception. For more information, visit https://www.gohealth.com.
Investor Relations:
John Shave
JShave@gohealth.com
Media Relations:
Pressinquiries@gohealth.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements are made in reliance upon the safe harbor provision of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, including, among others, statements regarding our expected growth, future capital expenditures, debt service obligations, adoption and use of artificial intelligence technologies, the impact on our business from regulatory changes, the impact on our business from the acquisition of e-TeleQuote Insurance, Inc. (“e-TeleQuote”) and our ability to successfully integrate e-TeleQuote’s operations, technologies and employees into our business, are forward-looking statements.
In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “aims,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “likely,” “future” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions, projections and other statements about future events that are based on current expectations and assumptions. 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.
These forward-looking statements speak only as of the date of this press release and are subject to a number of important factors that could cause actual results to differ materially from those in the forward-looking statements, including the factors described in the sections titled “Summary Risk Factors,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (“2024 Annual Report on Form 10-K”), our forthcoming Quarterly Report on Form 10-Q for the first quarter ended March 31, 2025 (“Q1 2025 Quarterly Report on Form 10-Q”) and in our other filings with the Securities and Exchange Commission. The factors described in our 2024 Annual Report on Form 10-K and our forthcoming Q1 2025 Quarterly Report on Form 10-Q should not be construed as exhaustive and should be read together with the other cautionary statements included in this press release, as well as the cautionary statements and other risk factors set forth in our other filings with the Securities and Exchange Commission.
You should read this press release and the documents that we reference in this press release completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
RESTON, Va., May 13, 2025 /PRNewswire/ — V2X Inc. (NYSE: VVX) has been selected as an awardee on the U.S. Army’s Live Training, Ranges, and Combat Training Centers (LTRaC) Indefinite Delivery, Indefinite Quantity (IDIQ) Multiple Award Contract 3. This strategic contract, supporting the U.S. Army Program Executive Office for Simulation, Training and Instrumentation (PEO STRI), delivers life-cycle product line management, engineering, and manufacturing for both existing and new training instrumentation systems.
LTRaC is expected to modernize and enhance major range and Combat Training Center (CTC) instrumentation systems. Under this contract, V2X will provide support for live fire ranges, CTC’s, home station training environments, and potentially U.S. Marine Corps live training systems.
“With the addition of LTRaC, V2X completes the trifecta of premier Army training contracts, joining our work of BEST MAC and W-TRS,” said Jeremy C. Wensinger, President and Chief Executive Officer of V2X. “From daily operations to modernization and advanced instrumentation, V2X supports every stage of the warfighter’s training journey, delivering readiness at scale.”
The scope of LTRaC includes continuous technology refresh efforts, modernization initiatives, research and development, and new system delivery for live training systems. “From every soldier and every weapon system, to every major training installation, V2X delivers integrated support across training aids, devices, simulators, and simulations,” said Ken Shreves, Senior Vice President of Mission Support at V2X.
The LTRaC IDIQ contract has a ceiling value of $379 million over an eight-year period of performance, including a five-year base and a three-year option period.
About V2X V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.
Investor Contact Mike Smith, CFA Vice President, Treasury, Corporate Development and Investor Relations IR@goV2X.com 719-637-5773
Media Contact Angelica Spanos Deoudes Senior Director, Marketing and Communications Angelica.Deoudes@goV2X.com 571-338-5195
MIAMI, May 13, 2025 (GLOBE NEWSWIRE) — SKYX (NASDAQ: SKYX) (d/b/a “SKYX Technologies”), a highly disruptive advanced and smart home platform technology company for homes and buildings, with more than 97 issued and pending patents globally and a portfolio of over 60 lighting and home décor websites, announced today that it has secured approximately $4 million in recent funding from strategic investors through the purchase of preferred stock representing $2.00 per share. This investment is part of a broader financing round totaling approximately $15 million to date, led by The Shaner Group, owner and developer of more than 70 hotels worldwide.
The $15 million broader funding round also included substantial participation from company insiders, including SKYX President Steve Schmidt and Co-CEOs Lenny Sokolow and John Campi, underscoring their continued confidence in SKYX’s strategic vision and growth trajectory.
Proceeds from the financing will be used for general working capital and corporate purposes.
About SKYX Platforms Corp. As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.
Forward-Looking Statements Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
New Repurchase Program. Yesterday, V2X announced that its Board of Directors approved a share repurchase program under which the Company may purchase, from time to time, up to $100 million of the Company’s common stock for a three-year term ending on May 12, 2028.
Why? According to management, the share repurchase program reflects the strength of the business and management’s commitment to enhancing shareholder returns through a disciplined capital allocation strategy. As of yesterday’s close, the $100 million represents approximately 6.1% of the outstanding shares. To remind investors, private equity firm AIP owns about 45% of the outstanding shares.
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Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
1Q25 Reported With Product Launch and Clinical Trial Updates. Gyre reported Net Income of $3.7 million with Net Income Attributable to Common Shareholders of $2.7 million or $(0.03) per share. Data analysis for the Phase 3 Hydronidone trial in CHB-ALF (chronic hepatitis B-associated liver fibrosis) is ongoing, with a data announcement expected during 2Q25. The company also launched avatrombopag in China and plans to launch nintedanib during 2Q25. The cash balance on March 31, 2025 was $51.3 million.
Product Sales Declined But Gross Margin Was As Expected. Product sales were $22.1 million, a decline from $27.8 million in 4Q24. The decline in sales of Etuary, its drug for ITP, was attributed to the economic conditions in China and the shift in marketing resources away from Etuary and toward the new products, nintedanib and avatrombopag. Gross Margin of 96% was as we expected despite lower product volume.
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Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
FY Q3 results. The company reported fiscal Q3 revenue of $408.2 million, largely in line with our estimate of $417.0 million. Adj. EBITDA of $37.7 million was 10% lower than our estimate of $41.8 million, the variance largely due to higher cost of revenue.
Focusing on Pharmacy efficiency. In April, the company opened its new fulfillment center in Kansas, which is expected to drive higher profitability in the Healthcare Services segment over the long-term through newer technology and machinery. We expect the new facility to be a drag on profitability over the next quarter or so, however, due to the investments the company is making in the facility. The launch of the new facility aligns with the company’s goal to focus more on Healthcare Service profitability, given the scale that the segment has already achieved (approx. 106k SelectRx members).
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Seanergy Maritime Holdings Corp. is a prominent pure-play Capesize shipping company listed in the U.S. capital markets. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 18 vessels (1 Newcastlemax and 17 Capesize) with an average age of approximately 13.4 years and an aggregate cargo carrying capacity of approximately 3,236,212 dwt. Upon completion of the delivery of the previously announced Capesize vessel acquisition, the Company’s operating fleet will consist of 19 vessels (1 Newcastlemax and 18 Capesize) with an aggregate cargo carrying capacity of approximately 3,417,608 dwt. The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Updating first quarter estimates. We are revising our first quarter 2025 adjusted EBITDA and EPS estimates to $6.1 million and a loss of $0.38, respectively, from $6.0 million and a loss of $0.39. The revisions are driven by fewer dry-docking days during the quarter and an increase in operating days to 1,716 from 1,691. We also expect lower general and administrative costs, though this benefit is partially offset by higher vessel expenses tied to an increase in estimated ownership days.
Full year 2025 estimates. We are lowering our adjusted EBITDA and EPS estimates to $68.1 million and $0.59, down from $79.6 million and $1.17, respectively. The downward revisions reflect lower time charter rates and fewer operating days of 7,241 compared to our previous estimate of 7,391 due to an increase in the number of dry-docking days during the year. We have lowered our total revenue forecast to $142.5 million from $154.9 million. We modestly lowered our operating expense estimate to $111.7 million from $113.2 million, driven by expectations for lower general and administrative costs.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Saga Communications, Inc. is a broadcast company whose business is primarily devoted to acquiring, developing and operating radio stations. Saga currently owns or operates broadcast properties in 27 markets, including 79 FM and 33 AM radio stations. Saga’s strategy is to operate top billing radio stations in mid sized markets, defined as markets ranked (by market revenues) from 20 to 200. Saga’s radio stations employ a myriad of programming formats, including Active Rock, Adult Album Alternative, Adult Contemporary, Country, Classic Country, Classic Hits, Classic Rock, Contemporary Hits Radio, News/Talk, Oldies and Urban Contemporary. In operating its stations, Saga concentrates on the development of strong decentralized local management, which is responsible for the day-to-day operations of the stations in their market area and is compensated based on their financial performance as well as other performance factors that are deemed to effect the long-term ability of the stations to achieve financial objectives. Saga began operations in 1986 and became a publicly traded company in December 1992. The stock trades on NASDAQ under the ticker symbol “SGA”.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Favorable Digital growth outlook. Digital revenues are expected to accelerate to 18% revenue growth in Q2 versus 13.5% in Q1. Year to date, the company generated $5.5 million in digital revenue, surpassing the $5.0 million generated for full year 2024. We believe that the company’s Digital businesses should grow faster than industry averages.
Q1 Overview. The company reported Q1 revenue of $24.2 million and an adj. EBITDA loss of $0.5 million, both of which declined over the prior year period, but were modestly better than our estimates of $23.0 million and a loss of $1.1 million. Notably, the company is focused on its blended digital growth strategy and improving profitability. We believe the company’s strategic actions are a step in the right direction for returning toward revenue and adj. EBITDA growth.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
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