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  • Viemed Healthcare Announces Second Quarter 2025 Financial Results

    Viemed Healthcare Announces Second Quarter 2025 Financial Results

    LAFAYETTE, LA / ACCESS Newswire / August 6, 2025 / Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD), an in-home clinical care provider of post-acute respiratory healthcare equipment and services in the United States, announced today that it has reported its financial results for the three and six months ended June 30, 2025.

    Operational highlights (all dollar amounts are USD; comparisons are to the period ended June 30, 2024 unless otherwise noted):

    • Net revenues for the quarter ended June 30, 2025 were $63.1 million, setting another Company record, representing an increase of $8.1 million, or 14.7%, over net revenues reported for the comparable quarter ended June 30, 2024.

    • Net income attributable to Viemed for the quarter ended June 30, 2025 totaled $3.2 million, or $0.08per diluted share, an increase of 115.1% over net income attributable to Viemed of $1.5 million, or $0.04 per diluted share, for the quarter ended June 30, 2024.

    • Adjusted EBITDA for the quarter ended June 30, 2025 totaled $14.3 million, an 11.5% increase as compared to the quarter ended June 30, 2024. A reconciliation of reported non-GAAP financial measures to their most directly comparable U.S. GAAP financial measures can be found in the tables accompanying this press release.

    • During the second quarter of 2025, the Company repurchased and cancelled 270,061 common shares under its share repurchase program at a cost of $1.8 million, representing an average buyback price of $6.79 per share.

    • The Company increased its ventilator patient count to 12,152 as of June 30, 2025, an increase of 11.4% over June 30, 2024, and a 2.9% sequential increase from March 31,2025.

    • The Company increased its PAP therapy patient count to 26,260 as of June 30, 2025, an increase of 51.4% over June 30, 2024, and a 14.7% sequential increase from March 31,2025. The Company’s sleep resupply patient count was 25,246 as of June 30, 2025, an increase of 25.1% over June 30, 2024, and a 10.0% sequential increase from March 31,2025.

    • As of June 30, 2025, the Company maintains a strong cash balance of $20.0 million and an overall working capital balance of $18.0 million. Long term debt as of June 30, 2025 amounted to $3.5 million and the Company has $55 million available under existing credit facilities.

    • On July 1, 2025, Viemed closed on the previously announced acquisition of Lehan’s Medical Equipment (“Lehan”) for a base purchase price of $26 million, subject to customary adjustments, plus estimated contingent payments of $2.2 million. Financial results for Lehan will be included in the Company’s results beginning with the third quarter of 2025.

    Updated Full Year 2025 Guidance (all dollar amounts are USD):

    • Net revenue for the year ending December 31, 2025 is expected to be in the range of $271 million to $277 million, increased from the prior range of $256 million to $265 million. The increase in the range is primarily related to the inclusion of Lehan’s anticipated results for the second half of 2025.

    • Adjusted EBITDA for the year ending December 31, 2025 is expected to be in the range of $59 million to $62 million, increased from the prior range of $55 million to $58 million. The increase in the range is primarily related to the inclusion of Lehan’s anticipated results for the second half of 2025. See “Forward-Looking Statements” below for further information on this non-GAAP financial guidance.

    Casey Hoyt, Viemed’s CEO, noted, “Viemed’s focus as a company is on improving the quality of life for patients with compassionate care in the home. We are at the forefront of delivering greater patient satisfaction with better outcomes at a lower total cost of care, including in complex respiratory care and now women’s health driven by our acquisition of Lehan’s. During the past two years, we have significantly increased the patient populations we can address and invested in a technology-enabled clinical approach that extends the capabilities and impact of our certified Respiratory Therapists. Our model of care is rare in the industry, and we believe it will continue to serve us well in today’s rapidly evolving regulatory environment.

    “The solid execution of our vent and sleep businesses – together with continued leveraging of expenses – produced second quarter results that met our expectations and kept us on track for our organic growth targets in 2025. The addition of Lehan’s enabled us to increase our full year revenue and Adjusted EBITDA guidance, and the early progress from our integration plans reinforces the confidence we have in accelerating their growth. The strong operating cash flow during the quarter continues to contribute to our rock-solid balance sheet. We have successfully deployed that capital into share repurchases and have remained active to date with that program in the third quarter.”

    Conference Call Details

    The Company will host a conference call to discuss second quarter results on Thursday, August 7, 2025, at 11:00 a.m. EDT.

    Interested parties may participate in the call by dialing:

    877-407-6176 (US Toll-Free)
    +1 201-689-8451 (International)
    Live Audio Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=4jnXGdPH

    Following the conclusion of the call, an audio recording and transcript of the call can be accessed on the Company’s website.

    ABOUT VIEMED HEALTHCARE, INC.

    Viemed is an in-home clinical care provider of post-acute respiratory healthcare equipment and services in the United States, including non-invasive ventilators (NIV), sleep therapy, staffing, and other complementary products and services. Viemed focuses on efficient and effective in-home treatment with clinical practitioners providing therapy, education and counseling to patients in their homes using high-touch and high-tech services. Visit our website at www.viemed.com.

    For further information, please contact:

    Investor Relations
    ir@viemed.com

    SCR Partners, LLC
    Tripp Sullivan or Lisa Kampf

    Viemed Healthcare, Inc.
    Trae Fitzgerald
    Chief Financial Officer

    Forward-Looking Statements

    Certain statements contained in this press release may constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or “forward-looking information” as such term is defined in applicable Canadian securities legislation (collectively, “forward-looking statements”). Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “potential”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “projects”, or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “will”, “should”, “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. All statements other than statements of historical fact, including those that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance, including the Company’s net revenue and Adjusted EBITDA guidance for 2025, and the anticipated synergies and other benefits of the acquisition of Lehan’s Medical Equipment, are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: the general business, market and economic conditions in the regions in which the we operate; significant capital requirements and operating risks that we may be subject to; our ability to implement business strategies and pursue business opportunities; volatility in the market price of our common shares; the state of the capital markets; the availability of funds and resources to pursue operations; inflation; reductions in reimbursement rates and audits of reimbursement claims by various governmental and private payor entities; dependence on few payors; possible new drug discoveries; dependence on key suppliers; granting of permits and licenses in a highly regulated business; competition; disruptions in or attacks (including cyber-attacks) on our information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which we are exposed; difficulty integrating newly acquired businesses; the impact of new and changes to, or application of, current laws and regulations; the overall difficult litigation and regulatory environment; increased competition; increased funding costs and market volatility due to market illiquidity and competition for funding; critical accounting estimates and changes to accounting standards, policies, and methods used by us; and the occurrence of natural and unnatural catastrophic events or health epidemics or concerns, and claims resulting from such events or concerns, as well as other general economic, market and business conditions; and other factors beyond our control; as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and with the securities regulatory authorities in certain provinces of Canada available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

    This press release contains non-GAAP financial guidance. There is no reliable or reasonably estimable comparable GAAP measure for the Company’s non-GAAP financial guidance because the Company is not able to reliably predict the impact of certain items that typically have one or more of the following characteristics: highly variable, difficult to project, unusual in nature, significant to the results of a particular period or not indicative of future operating results. Similar charges or gains were recognized in prior periods and will likely reoccur in future periods. As a result, reconciliation of the non-GAAP financial guidance to the most directly comparable GAAP measure is not available without unreasonable effort. In addition, the Company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. The variability of the specified items may have a significant and unpredictable impact on the Company’s future GAAP results.

    The Company’s financial guidance in this press release excludes the impact of potential future strategic acquisitions and any items that have not yet been identified or quantified. This guidance is subject to risks and uncertainties inherent in all forward-looking statements, as outlined above.

    VIEMED HEALTHCARE, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Expressed in thousands of U.S. Dollars, except share amounts)
    (Unaudited)

    At
    June 30, 2025
    At
    December 31, 2024
    ASSETS
    Current assets
    Cash and cash equivalents

    $

    20,016

    $

    17,540
    Accounts receivable, net

    26,549

    24,911
    Inventory

    4,324

    4,320
    Prepaid expenses and other assets

    4,402

    6,109
    Total current assets

    $

    55,291

    $

    52,880
    Long-term assets
    Property and equipment, net

    79,735

    76,279
    Finance lease right-of-use assets

    13

    50
    Operating lease right-of-use assets

    2,639

    2,831
    Equity investments

    2,794

    2,794
    Deferred tax asset

    10,359

    8,398
    Identifiable intangibles, net

    783

    848
    Goodwill

    32,989

    32,989
    Total long-term assets

    $

    129,312

    $

    124,189
    TOTAL ASSETS

    $

    184,603

    $

    177,069
    LIABILITIES
    Current liabilities
    Trade payables

    $

    8,253

    $

    5,322
    Deferred revenue

    7,193

    6,694
    Income taxes payable

    1,450

    3,883
    Accrued liabilities

    18,644

    20,157
    Finance lease liabilities, current portion

    15

    50
    Operating lease liabilities, current portion

    895

    811
    Current portion of long-term debt

    820

    409
    Total current liabilities

    $

    37,270

    $

    37,326
    Long-term liabilities
    Accrued liabilities

    549

    846
    Operating lease liabilities, less current portion

    1,695

    2,007
    Long-term debt

    3,465

    3,589
    Total long-term liabilities

    $

    5,709

    $

    6,442
    TOTAL LIABILITIES

    $

    42,979

    $

    43,768
    Commitments and Contingencies

    –

    –
    SHAREHOLDERS’ EQUITY
    Common stock – No par value: unlimited authorized; 39,605,005 and 39,132,897 issued and outstanding as of June 30, 2025 and December 31, 2024, respectively

    27,787

    23,365
    Additional paid-in capital

    18,102

    18,337
    Retained earnings

    93,842

    89,691
    TOTAL VIEMED HEALTHCARE, INC.’S SHAREHOLDERS’ EQUITY

    $

    139,731

    $

    131,393
    Noncontrolling interest in subsidiary

    1,893

    1,908
    TOTAL SHAREHOLDERS’ EQUITY

    141,624

    133,301
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

    $

    184,603

    $

    177,069

    VIEMED HEALTHCARE, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Expressed in thousands of U.S. Dollars, except outstanding shares and per share amounts)
    (Unaudited)

    Three Months Ended June 30,

    Six Months Ended June 30,

    2025

    2024

    2025

    2024
    Revenue

    $

    63,056

    $

    54,965

    $

    122,185

    $

    105,558
    Cost of revenue

    26,325

    22,073

    52,175

    42,864
    Gross profit

    $

    36,731

    $

    32,892

    $

    70,010

    $

    62,694
    Operating expenses
    Selling, general and administrative

    28,803

    26,503

    57,228

    51,317
    Research and development

    847

    758

    1,644

    1,508
    Stock-based compensation

    2,341

    1,620

    4,652

    3,052
    Depreciation and amortization

    353

    377

    701

    792
    Gain on disposal of property and equipment

    (636

    )

    (545

    )

    (3,004

    )

    (332

    )
    Other expense (income), net

    (72

    )

    563

    (147

    )

    537
    Income from operations

    $

    5,095

    $

    3,616

    $

    8,936

    $

    5,820
    Non-operating income and expenses
    Loss on investments

    –

    (1,117

    )

    –

    (1,050

    )
    Interest expense, net

    (132

    )

    (254

    )

    (311

    )

    (404

    )
    Net income before taxes

    4,963

    2,245

    8,625

    4,366
    Provision for income taxes

    1,713

    768

    2,665

    1,286
    Net income

    $

    3,250

    $

    1,477

    $

    5,960

    $

    3,080
    Net income attributable to noncontrolling interest

    93

    9

    178

    9
    Net income attributable to Viemed Healthcare, Inc.

    $

    3,157

    $

    1,468

    $

    5,782

    $

    3,071
    Net income per share
    Basic

    $

    0.08

    $

    0.04

    $

    0.15

    $

    0.08
    Diluted

    $

    0.08

    $

    0.04

    $

    0.14

    $

    0.08
    Weighted average number of common shares outstanding:
    Basic

    39,515,247

    38,822,980

    39,471,244

    38,558,479
    Diluted

    41,083,760

    40,553,449

    41,393,523

    40,313,042

    VIEMED HEALTHCARE, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Expressed in thousands of U.S. Dollars)
    (Unaudited)

    Six Months Ended June 30,

    2025

    2024
    Cash flows from operating activities
    Net income

    $

    5,960

    $

    3,080
    Adjustments for:
    Depreciation and amortization

    13,504

    12,594
    Stock-based compensation expense

    4,652

    3,052
    Distributions of earnings received from equity method investments

    –

    147
    Income from equity method investments

    –

    (261

    )
    Loss from debt investment

    –

    1,219
    Gain on disposal of property and equipment

    (3,004

    )

    (332

    )
    Amortization of deferred financing costs

    64

    85
    Deferred income tax benefit

    (1,961

    )

    –
    Changes in working capital:
    Accounts receivable, net

    (1,638

    )

    (8,225

    )
    Inventory

    (4

    )

    470
    Prepaid expenses and other assets

    (150

    )

    1,523
    Trade payables

    1,598

    1,114
    Deferred revenue

    499

    394
    Accrued liabilities

    (1,979

    )

    (904

    )
    Income tax payable/receivable

    (2,433

    )

    (2,599

    )
    Net cash provided by operating activities

    $

    15,108

    $

    11,357
    Cash flows from investing activities
    Purchase of property and equipment

    (23,612

    )

    (14,940

    )
    Cash paid for acquisitions, net of cash acquired

    –

    (2,999

    )
    Proceeds from sale of property and equipment

    13,355

    1,407
    Net cash used in investing activities

    $

    (10,257

    )

    $

    (16,532

    )
    Cash flows from financing activities
    Proceeds from exercise of options

    1,368

    325
    Principal payments on term notes

    (220

    )

    (810

    )
    Proceeds from revolving credit facilities

    –

    3,000
    Payments for debt issuance costs

    –

    (151

    )
    Shares redeemed to pay income tax

    (1,631

    )

    (972

    )
    Shares repurchased under the share repurchase program

    (1,664

    )

    –
    Repayments of finance lease liabilities

    (35

    )

    (249

    )
    Distributions to non-controlling interest

    (193

    )

    –
    Net cash provided by (used in) financing activities

    $

    (2,375

    )

    $

    1,143
    Net increase (decrease) in cash and cash equivalents

    2,476

    (4,032

    )
    Cash and cash equivalents at beginning of year

    17,540

    12,839
    Cash and cash equivalents at end of period

    $

    20,016

    $

    8,807
    Supplemental disclosures of cash flow information
    Cash paid during the period for interest

    $

    212

    $

    515
    Cash paid during the period for income taxes, net of refunds

    $

    7,059

    $

    3,841
    Supplemental disclosures of non-cash transactions
    Equipment and other fixed asset purchases payable at end of period

    $

    3,955

    $

    2,725
    Equipment sales receivable at end of period

    $

    986

    $

    2,187
    Repurchases of shares not yet settled

    $

    169

    $

    –

    Non-GAAP Financial Measures

    This press release refers to “Adjusted EBITDA”, which is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Adjusted EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP. Management believes Adjusted EBITDA provides helpful information with respect to the Company’s operating performance as viewed by management, including a view of the Company’s business that is not dependent on the impact of the Company’s capitalization structure and items that are not part of the Company’s day-to-day operations. Management uses Adjusted EBITDA (i) to compare the Company’s operating performance on a consistent basis, (ii) to calculate incentive compensation for the Company’s employees, (iii) for planning purposes, including the preparation of the Company’s internal annual operating budget, and (iv) to evaluate the performance and effectiveness of the Company’s operational strategies. Accordingly, management believes that Adjusted EBITDA provides useful information in understanding and evaluating the Company’s operating performance in the same manner as management. Adjusted EBITDA is not a measurement of the Company’s financial performance under U.S. GAAP and should not be considered as an alternative to revenue or net income, as applicable, or any other performance measures derived in accordance with U.S. GAAP. Adjusted EBITDA has limitations as an analytical tool and you should not consider it in isolation or as a substitute for analysis of the Company’s operating results as reported under U.S. GAAP. Adjusted EBITDA does not reflect the impact of certain cash charges resulting from matters the Company considers not to be indicative of ongoing operations; and other companies in the Company’s industry may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure. In calculating Adjusted EBITDA, certain items (mostly non-cash) are excluded from net income attributable to Viemed Healthcare, Inc., including depreciation and amortization of capitalized assets, net interest expense, stock based compensation, transaction costs, impairment of assets, and taxes.

    The following table is a reconciliation of net income attributable to Viemed Healthcare, Inc., the most directly comparable U.S. GAAP measure, to Adjusted EBITDA, on a historical basis for the periods indicated:

    VIEMED HEALTHCARE, INC.
    Reconciliation of Net Income to Non-GAAP Adjusted EBITDA
    (Expressed in thousands of U.S. Dollars)
    (Unaudited)

    For the quarter ended

    June 30, 2025

    March 31, 2025

    December 31, 2024

    September 30, 2024

    June 30, 2024

    March 31, 2024

    December 31, 2023

    September 30, 2023
    Net income attributable to Viemed Healthcare, Inc.

    $

    3,157

    $

    2,625

    $

    4,316

    $

    3,878

    $

    1,468

    $

    1,603

    $

    3,477

    $

    2,919
    Add back:
    Depreciation & amortization

    6,891

    6,613

    6,366

    6,408

    6,309

    6,285

    5,918

    5,975
    Interest expense, net

    132

    179

    147

    225

    254

    150

    256

    237
    Stock-based compensation(a)

    2,341

    2,311

    1,521

    1,712

    1,620

    1,432

    1,534

    1,453
    Transaction costs(b)

    53

    85

    11

    12

    221

    110

    61

    177
    Impairment of assets(c)

    –

    –

    –

    125

    2,173

    –

    –

    –
    Income tax expense

    1,713

    952

    1,881

    1,594

    768

    518

    1,599

    1,320
    Adjusted EBITDA

    $

    14,287

    $

    12,765

    $

    14,242

    $

    13,954

    $

    12,813

    $

    10,098

    $

    12,845

    $

    12,081

    (a) Represents non-cash, equity-based compensation expense associated with option and RSU awards.

    (b) Represents transaction costs and expenses related to acquisition and integration efforts associated with recently announced or completed acquisitions.

    (c) Represents impairments of the fair value of investment and litigation-related assets.

    VIEMED HEALTHCARE, INC.
    Key Financial and Operational Information
    (Expressed in thousands of U.S. Dollars, except vent patients)
    (Unaudited)

    For the quarter ended

    June 30, 2025

    March 31, 2025

    December 31, 2024

    September 30, 2024

    June 30, 2024

    March 31, 2024

    December 31, 2023

    September 30, 2023

    Financial Information:
    Revenue

    $

    63,056

    $

    59,129

    $

    60,695

    $

    58,004

    $

    54,965

    $

    50,593

    $

    50,739

    $

    49,402
    Gross Profit

    $

    36,731

    $

    33,279

    $

    36,138

    $

    34,371

    $

    32,892

    $

    29,802

    $

    32,111

    $

    30,562
    Gross Profit %

    58

    %

    56

    %

    60

    %

    59

    %

    60

    %

    59

    %

    63

    %

    62

    %
    Net Income attributable to Viemed Healthcare, Inc.

    $

    3,157

    $

    2,625

    $

    4,316

    $

    3,878

    $

    1,468

    $

    1,603

    $

    3,477

    $

    2,919
    Cash and Cash Equivalents (As of)

    $

    20,016

    $

    10,160

    $

    17,540

    $

    11,347

    $

    8,807

    $

    7,309

    $

    12,839

    $

    10,078
    Total Assets (As of)

    $

    184,603

    $

    178,079

    $

    177,069

    $

    169,526

    $

    163,947

    $

    154,875

    $

    154,895

    $

    149,400
    Adjusted EBITDA(1)

    $

    14,287

    $

    12,765

    $

    14,242

    $

    13,954

    $

    12,813

    $

    10,098

    $

    12,845

    $

    12,081

    Operational Information:
    Vent Patients(2)

    12,152

    11,809

    11,795

    11,374

    10,905

    10,450

    10,327

    10,244
    PAP Therapy Patients(3)

    26,260

    22,899

    21,338

    19,478

    17,349

    15,726

    14,900

    14,788
    Sleep Resupply Patients(4)

    25,246

    22,941

    24,478

    22,143

    20,185

    18,904

    18,902

    18,544

    (1) Refer to “Non-GAAP Financial Measures” section above for definition of Adjusted EBITDA.

    (2) Vent Patients represents the number of active ventilator patients on recurring billing service at the end of each calendar quarter.

    (3) PAP Therapy Patients represents the number of distinct patients billed for PAP therapy services during each calendar quarter.

    (4) Sleep Resupply Patients represents the number of distinct patients who received supplies through our sleep resupply program during each calendar quarter.

    SOURCE: Viemed Healthcare, Inc.

    View the original press release on ACCESS Newswire

    The post Viemed Healthcare Announces Second Quarter 2025 Financial Results appeared first on DA80 Hub.

  • FRP Holdings, Inc. Reports Fiscal 2025 Second Quarter Results

    FRP Holdings, Inc. Reports Fiscal 2025 Second Quarter Results

    JACKSONVILLE, FL / ACCESS Newswire / August 6, 2025 / FRP Holdings, Inc. (NASDAQ:FRPH), a full-service real estate investment and development company with four distinct business segments including Multifamily, Industrial and Commercial Development, Mining and Royalty Lands, today reported financial results for the quarter ended June 30, 2025.

    Second Quarter Highlights and Recent Developments

    • 72% decrease in Net Income ($0.6 million vs $2.0 million) due largely to legal expenses related to due diligence for a potential investment the company is evaluating, as well as lower Net Interest Income offset by higher mining royalties and improved results in Equity in Loss of Joint Ventures

    • 5% increase in pro rata NOI ($9.7 million vs $9.2 million)

    • 1% increase in the Multifamily segment’s pro rata NOI primarily due to improved occupancy of The Verge and Dock 79. This comparison includes the results for The Verge from the same period last year (when the Verge was still in our Development segment).

    • 15% decrease in Industrial and Commercial segment NOI primarily due to an eviction of one tenant and lease expirations.

    • 21% increase in NOI for Mining Royalty Lands segment

    • Effective July 21, 2025, the Company entered into a 2025 Amended and Restated Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, N.A. The Credit Agreement modifies the Company’s prior Credit Agreement with Wells Fargo dated December 22, 2023. The Credit Agreement establishes a five-year revolving credit facility with a maximum facility amount of $50 million. The interest rate under the Credit Agreement will be 2.25% over the Daily Simple SOFR in effect. A commitment fee of 0.35% per annum is payable quarterly on the unused portion of the commitment.

    • On July 23, 2025, subsequent to quarters end, we entered into a joint venture agreement with Strategic Real Estate Partners (“SREP”), a private real estate development firm which specializes in industrial real estate development, to develop 377,892 square feet in two warehouses in Lake County, Florida near Orlando, with options for investment in additional industrial warehouses on adjacent properties in the future.

    Executive Summary and Analysis

    Results this quarter and for the first six months are consistent with both our expectations as well as what we cautioned investors to expect for the last two quarters. As stated previously, our primary aim for 2025 is to set the stage for future growth. We will accomplish this first by leasing up our current vacancies, but mostly by putting money to work in new projects. We have started construction on both our JVs with Altman Logistics in Lakeland and Broward County, FL which will add 384,193 square feet of class A industrial space to our portfolio. We expect substantial completion on these projects in the second quarter of 2026. Work continues on the entitlements for our industrial pipeline in Maryland in order to be shovel ready in 2026. Finally, as mentioned in our highlights, subsequent to the end of the quarter, the Company entered into a joint venture agreement to develop 377,892 square feet in two warehouses in Lake County, FL. The site is located off the Florida Turnpike, in the City of Minneola, outside of Orlando. The lack of available land in the broader Orlando market has driven industrial users to expand into the Lake County submarket, attracting both institutional owners and users. Notably, there remains a meaningful shortage of shallow bay industrial buildings in the size range of the buildings we are developing for this market. We expect to begin construction on this project this month and FRP will have a 95% interest in this joint venture, with options for future development of just under 1 million SF of industrial product on adjacent property. This agreement supports our shift in focus and investment toward our industrial business segment and the Company remains on track to deliver three new industrial assets every two years with the goal of doubling the size of our industrial segment by 2030.

    Comparative Results of Operations for the three months ended June 30, 2025 and 2024

    Consolidated Results

    (dollars in thousands)

    Three Months Ended June 30,

    2025

    2024

    Change

    %
    Revenues:
    Lease revenue

    $

    7,241

    7,246

    $

    (5

    )

    -.1

    %
    Mining royalty and rents

    3,609

    3,231

    378

    11.7

    %
    Total revenues

    10,850

    10,477

    373

    3.6

    %
    Cost of operations:
    Depreciation, depletion and amortization

    2,726

    2,543

    183

    7.2

    %
    Operating expenses

    2,580

    1,702

    878

    51.6

    %
    Property taxes

    1,002

    860

    142

    16.5

    %
    General and administrative

    2,885

    2,552

    333

    13.0

    %
    Total cost of operations

    9,193

    7,657

    1,536

    20.1

    %
    Total operating profit

    1,657

    2,820

    (1,163

    )

    -41.2

    %
    Net investment income

    2,348

    3,708

    (1,360

    )

    -36.7

    %
    Interest expense

    (824

    )

    (829

    )

    5

    -.6

    %
    Equity in loss of joint ventures

    (2,379

    )

    (2,724

    )

    345

    -12.7

    %
    Income before income taxes

    802

    2,975

    (2,173

    )

    -73.0

    %
    Provision for income taxes

    178

    916

    (738

    )

    -80.6

    %
    Net income

    624

    2,059

    (1,435

    )

    -69.7

    %
    Income (loss) attributable to noncontrolling interest

    46

    15

    31

    206.7

    %
    Net income attributable to the Company

    $

    578

    2,044

    $

    (1,466

    )

    -71.7

    %

    Net income for the second quarter of 2025 was $578,000 or $.03 per share versus $2,044,000 or $.11 per share in the same period last year. Pro rata NOI for the second quarter of 2025 was $9,688,000 versus $9,230,000 in the same period last year. The second quarter of 2025 was impacted by the following items:

    • Operating profit decreased $1,163,000 primarily as a result of higher Development segment professional fees ($831,000) and higher General and administrative expense ($333,000). Development segment professional fees included $712,000 of legal expenses related to due diligence for a potential investment the company is evaluating along with other expensed acquisition and development costs. General and administrative expense increased primarily because of overlapping compensation as a result of the implementation of our executive succession and transition plan that commenced in June, 2024. Industrial and commercial segment operating profit declined $387,000 due to $211,000 higher depreciation from completion of our new Chelsea warehouse along with lower occupancy due to a tenant default and non-renewing leases. Mining Royalty Land’s segment operating profit increased $355,000 primarily due to the prior year including a $277,000 overpayment deduction.

    • Net investment income decreased $1,360,000 because of reduced earnings on cash equivalents ($456,000) primarily due to lower interest rates and lower income from our lending ventures ($904,000) primarily due to 27 residential lots sold compared to 54 residential lots sold in the same quarter last year.

    • Equity in loss of Joint Ventures improved $345,000 due to improved results of our unconsolidated joint ventures. Results improved at The Verge ($90,000) due to improved occupancy and at Bryant Street ($212,000) and BC Realty ($115,000) both due to higher revenues and lower variable rate interest expense.

    Multifamily Segment (Pro rata consolidated and pro rata unconsolidated)

    For ease of comparison all the figures in the tables below include the results for The Verge from the same period last year (when this project was still in our Development segment).

    Three months ended June 30
    (dollars in thousands)

    2025

    %

    2024

    %

    Change

    %
    Lease revenue

    $

    8,467

    100.0

    %

    8,113

    100.0

    %

    354

    4.4

    %
    Depreciation and amortization

    3,386

    40.0

    %

    3,384

    41.7

    %

    2

    .1

    %
    Operating expenses

    2,691

    31.8

    %

    2,553

    31.5

    %

    138

    5.4

    %
    Property taxes

    1,008

    11.9

    %

    912

    11.2

    %

    96

    10.5

    %
    Cost of operations

    7,085

    83.7

    %

    6,849

    84.4

    %

    236

    3.4

    %
    Operating profit before G&A

    $

    1,382

    16.3

    %

    1,264

    15.6

    %

    118

    9.3

    %
    Depreciation and amortization

    3,386

    3,384

    2
    Unrealized rents & other

    (31

    )

    32

    (63

    )
    Net operating income

    $

    4,737

    55.9

    %

    4,680

    57.7

    %

    57

    1.2

    %

    The combined consolidated and unconsolidated pro rata net operating income this quarter for this segment was $4,737,000, up $57,000 or 1% compared to $4,680,000 in the same quarter last year. Most of this increase was from the improved occupancy of The Verge. This project contributed $733,000 of pro rata NOI to this segment compared to $710,000 in the Development segment in the same quarter last year, an increase of $23,000. Same store NOI increased $34,000 as favorable revenues at Dock 79 were partially offset by lower revenues at the Maren and higher property taxes.

    Apartment Building

    Units
    Pro rata NOI
    Q2 2025
    Pro rata NOI
    Q2 2024

    Avg.
    Occupancy Q2 2025

    Avg.
    Occupancy Q2 2024

    Renewal
    Success
    Rate Q2
    2025

    Renewal % increase Q2 2025
    Dock 79 Anacostia DC

    305

    $

    995,000

    $

    932,000

    95.5

    %

    93.6

    %

    74.6

    %

    5.9

    %
    Maren Anacostia DC

    264

    $

    890,000

    $

    923,000

    93.6

    %

    94.8

    %

    55.3

    %

    3.2

    %
    Riverside Greenville

    200

    $

    215,000

    $

    215,000

    92.9

    %

    93.0

    %

    65.8

    %

    6.3

    %
    Bryant Street DC

    487

    $

    1,542,000

    $

    1,555,000

    94.6

    %

    91.2

    %

    56.3

    %

    2.1

    %
    .408 Jackson Greenville

    227

    $

    362,000

    $

    345,000

    94.3

    %

    96.2

    %

    52.2

    %

    4.7

    %
    Verge Anacostia DC

    344

    $

    733,000

    $

    710,000

    93.3

    %

    91.3

    %

    63.3

    %

    2.0

    %
    Multifamily Segment

    1,827

    $

    4,737,000

    $

    4,680,000

    94.1

    %

    93.0

    %

    Multifamily Segment (Consolidated – Dock 79 & The Maren)

    Three months ended June 30
    (dollars in thousands)

    2025

    %

    2024

    %

    Change

    %
    Lease revenue

    $

    5,567

    100.0

    %

    5,496

    100.0

    %

    71

    1.3

    %
    Depreciation and amortization

    1,935

    34.8

    %

    1,981

    36.1

    %

    (46

    )

    -2.3

    %
    Operating expenses

    1,527

    27.4

    %

    1,519

    27.6

    %

    8

    .5

    %
    Property taxes

    648

    11.6

    %

    576

    10.5

    %

    72

    12.5

    %
    Cost of operations

    4,110

    73.8

    %

    4,076

    74.2

    %

    34

    .8

    %
    Operating profit before G&A

    $

    1,457

    26.2

    %

    1,420

    25.8

    %

    37

    2.6

    %

    Total revenues for our two consolidated joint ventures were $5,567,000, an increase of $71,000 versus $5,496,000 in the same period last year. Total operating profit before G&A for the consolidated joint ventures was $1,457,000, an increase of $37,000, or 3% versus $1,420,000 in the same period last year primarily due to lower depreciation.

    Multifamily Segment (Pro rata unconsolidated)

    Our Multifamily Segment has four unconsolidated joint ventures (Bryant Street, The Verge, Riverside, and .408 Jackson). Riverside was moved from the Development segment to the Multifamily segment in 2022, Bryant Street and .408 Jackson moved as of the beginning of 2024 and The Verge moved effective July 1, 2024, each upon reaching lease up stabilization.

    Three months ended June 30
    (dollars in thousands)

    2025

    %

    2024

    %

    Change

    %
    Lease revenue

    $

    5,436

    100.0

    %

    5,118

    100.0

    %

    318

    6.2

    %
    Depreciation and amortization

    2,325

    42.8

    %

    2,299

    44.9

    %

    26

    1.1

    %
    Operating expenses

    1,886

    34.7

    %

    1,724

    33.7

    %

    162

    9.4

    %
    Property taxes

    654

    12.0

    %

    599

    11.7

    %

    55

    9.2

    %
    Cost of operations

    4,865

    89.5

    %

    4,622

    90.3

    %

    243

    5.3

    %
    Operating profit before G&A

    $

    571

    10.5

    %

    496

    9.7

    %

    75

    15.1

    %

    For our four unconsolidated joint ventures, pro rata revenues were $5,436,000, an increase of $318,000 or 6% compared to $5,118,000 in the same period last year. Pro rata operating profit before G&A was $571,000, an increase of $75,000 or 15% versus $496,000 in the same period last year. The increase was due to improved occupancy at The Verge and Bryant Street and higher revenues at .408 Jackson.

    Industrial and Commercial Segment

    Three months ended June 30
    (dollars in thousands)

    2025

    %

    2024

    %

    Change

    %
    Lease revenue

    $

    1,374

    100.0

    %

    1,445

    100.0

    %

    (71

    )

    (4.9

    %)
    Depreciation and amortization

    571

    41.6

    %

    360

    25.0

    %

    211

    58.6

    %
    Operating expenses

    230

    16.7

    %

    191

    13.2

    %

    39

    20.4

    %
    Property taxes

    130

    9.5

    %

    64

    4.4

    %

    66

    103.1

    %
    Cost of operations

    931

    67.8

    %

    615

    42.6

    %

    316

    51.4

    %
    Operating profit before G&A

    $

    443

    32.2

    %

    830

    57.4

    %

    (387

    )

    (46.6

    %)
    Depreciation and amortization

    571

    360

    211
    Unrealized revenues

    (4

    )

    (3

    )

    (1

    )
    Net operating income

    $

    1,010

    73.5

    %

    $

    1,187

    82.1

    %

    $

    (177

    )

    (14.9

    %)

    Shell construction on our 258,279 square foot spec warehouse project in Aberdeen, MD on Chelsea Road was completed effective April 1, 2025 and is in the lease-up phase. We have ten buildings in service at four different locations totaling 773,356 square feet of industrial and 33,708 square feet of office of which 50.3% was leased and occupied at June 30, 2025. Excluding Chelsea these assets were 74.0% leased and occupied during the quarter compared to 95.6% leased and occupied during the same quarter last year primarily due to an eviction for failure to pay rent by one tenant and lease expirations. Total revenues in this segment were $1,374,000, down $71,000 or 5%, over the same period last year. Operating profit before G&A was $443,000, down $387,000 or 47% over the same quarter last year due to $216,000 of depreciation and $30,000 of operating costs at Chelsea along with the lower occupancy. Net operating income in this segment was $1,010,000, down $177,000 or 15% compared to the same quarter last year.

    Mining Royalty Lands Segment Results

    Three months ended June 30
    (dollars in thousands)

    2025

    %

    2024

    %

    Change

    %
    Mining royalty and rent revenue

    $

    3,609

    100.0

    %

    3,231

    100.0

    %

    378

    11.7

    %
    Depreciation, depletion and amortization

    177

    5.0

    %

    159

    4.9

    %

    18

    11.3

    %
    Operating expenses

    16

    0.4

    %

    16

    0.5

    %

    –

    –

    %
    Property taxes

    76

    2.1

    %

    71

    2.2

    %

    5

    7.0

    %
    Cost of operations

    269

    7.5

    %

    246

    7.6

    %

    23

    9.3

    %
    Operating profit before G&A

    $

    3,340

    92.5

    %

    2,985

    92.4

    %

    355

    11.9

    %
    Depreciation and amortization

    177

    159

    18
    Unrealized revenues

    148

    (116

    )

    264
    Net operating income

    $

    3,665

    101.6

    %

    $

    3,028

    93.7

    %

    $

    637

    21.0

    %

    Total revenues in this segment were $3,609,000, an increase of $378,000 or 12% versus $3,231,000 in the same period last year. Royalty revenues in the prior year were impacted by the deduction of $277,000 of royalties to resolve an overpayment which we referenced previously. Royalty tons were down 3% primarily due to a decrease at one location that experienced a project specific spike in demand in the prior year. Royalty revenue per ton increased 7% over the same period last year excluding the prior year overpayment deduction. Total operating profit before G&A in this segment was $3,340,000, an increase of $355,000 versus $2,985,000 in the same period last year. Net operating income was $3,665,000, up $637,000 or 21% compared to the same quarter last year due to the higher revenues and a $264,000 decrease in unrealized revenues. The unrealized revenue decrease is due to the temporarily higher minimum royalty payments we are currently receiving at one location which are straight-lined across the life of the lease for GAAP revenue purposes.

    Development Segment Results

    Three months ended June 30
    (dollars in thousands)

    2025

    2024

    Change
    Lease revenue

    $

    300

    305

    (5

    )
    Depreciation, depletion and amortization

    43

    43

    –
    Operating expenses

    807

    (24

    )

    831
    Property taxes

    148

    149

    (1

    )
    Cost of operations

    998

    168

    830
    Operating profit before G&A

    $

    (698

    )

    137

    (835

    )

    With respect to ongoing Development Segment projects:

    • We are the principal capital source to develop 344 residential lots on 110 acres in Harford County, MD. We have funded $27.0 million of our $31.1 million total commitment. A national homebuilder is under contract to purchase all 222 townhome lots and 122 single family lots. At quarter-end, 160 lots have been sold and $22.2 million has been returned to the company of which $5.5 million was booked as profit to the Company.

    • We entered into two new joint venture agreements in early 2024 with Altman Logistics. The first joint venture is a 201,420 square-foot warehouse development project in Lakeland, FL, and the second joint venture is a two building 183,215 square-foot warehouse redevelopment project in Broward County, FL. We closed on both construction loans in March, 2025 and construction commenced in the second quarter of 2025.

    • On May 30, 2025, we secured construction financing for our multifamily joint venture with Woodfield Development, known as Woven. This is our third multifamily project in Greenville, SC. This is an $87.8M project with 214 units and 13,500 square feet of ground floor retail that is eligible to receive South Carolina Textile Rehabilitation Credits upon substantial completion and received Special Source Credits equal to 50% of the real estate taxes for a period of 20 years.

    • On June 16, 2025, our BC Realty partnership refinanced our FRP provided floating rate construction loans on our two (2) office buildings with Symetra Life Insurance Company. This is a 10-year, fully amortizing $10.5M permanent loan, at a fixed interest rate of 6.40%.

    Six Month Highlights

    • 32% decrease in Net Income ($2.3 million vs $3.3 million)

    • 7% increase in pro rata NOI ($19.1 million vs $17.8 million)

    • 2% increase in the Multifamily segment’s pro rata NOI primarily due to lease up of The Verge. This comparison includes the results for this project from the same period last year (when this project was still in our Development segment).

    • 6% decrease in Industrial and Commercial revenue and 8% decrease in that segment’s NOI

    • 20.1% increase in the Mining Royalty Lands’ segment’s NOI

    Comparative Results of Operations for the Six months ended June 30, 2025 and 2024

    Consolidated Results

    (dollars in thousands)

    Six Months Ended June 30,

    2025

    2024

    Change

    %
    Revenues:
    Lease revenue

    $

    14,313

    14,416

    $

    (103

    )

    -.7

    %
    Mining royalty and rents

    6,843

    6,194

    649

    10.5

    %
    Total revenues

    21,156

    20,610

    546

    2.6

    %
    Cost of operations:
    Depreciation/depletion/amortization

    5,333

    5,078

    255

    5.0

    %
    Operating expenses

    4,439

    3,569

    870

    24.4

    %
    Property taxes

    1,940

    1,667

    273

    16.4

    %
    General and administrative

    5,462

    4,594

    868

    18.9

    %
    Total cost of operations

    17,174

    14,908

    2,266

    15.2

    %
    Total operating profit

    3,982

    5,702

    (1,720

    )

    -30.2

    %
    Net investment income

    4,909

    6,491

    (1,582

    )

    -24.4

    %
    Interest expense

    (1,519

    )

    (1,740

    )

    221

    -12.7

    %
    Equity in loss of joint ventures

    (4,410

    )

    (5,743

    )

    1,333

    -23.2

    %
    Income before income taxes

    2,962

    4,710

    (1,748

    )

    -37.1

    %
    Provision for income taxes

    704

    1,316

    (612

    )

    -46.5

    %
    Net income

    2,258

    3,394

    (1,136

    )

    -33.5

    %
    Income (loss) attributable to noncontrolling interest

    (30

    )

    49

    (79

    )

    -161.2

    %
    Net income attributable to the Company

    $

    2,288

    $

    3,345

    $

    (1,057

    )

    -31.6

    %

    Net income for the first six months of 2025 was $2,288,000 or $.12 per share versus $3,345,000 or $.18 per share in the same period last year. Pro rata NOI for the first six months of 2025 was $19,052,000 versus $17,764,000 in the same period last year. The first six months of 2025 were impacted by the following items:

    • Operating profit decreased $1,720,000 primarily due to higher Development segment professional fees ($682,000) and higher General and administrative expense ($868,000). Development segment professional fees included $712,000 of legal expenses related to due diligence for a potential investment the company is evaluating. General and administrative expense increased primarily due to overlapping compensation as a result of the implementation of our executive succession and transition plan that commenced in June, 2024. Industrial and commercial segment operating profit declined $556,000 because of a $211,000 increase in depreciation expense from completion of our new Chelsea warehouse, as well as lower occupancy due to a tenant default and non-renewing leases. Mining Royalty Land’s segment operating profit increased $596,000 primarily because of the prior year’s overpayment deduction of $566,000.

    • Net investment income decreased $1,582,000 from reduced earnings on cash equivalents ($904,000) and reduced income from our lending ventures ($678,000) primarily due to fewer residential lot sales.

    • Interest expense decreased $221,000 compared to the same period last year as we capitalized $209,000 more interest. More interest was capitalized due to increased in-house and joint venture projects under development this quarter compared to last year.

    • Equity in loss of Joint Ventures improved $1,333,000 because of improved results at our unconsolidated joint ventures. Results improved at The Verge ($499,000) due to lease up, and also at Bryant Street ($656,000) and BC Realty ($222,000) because of higher revenues and lower variable rate interest expense.

    Multifamily Segment (Pro rata consolidated and pro rata unconsolidated)

    For ease of comparison all the figures in the tables below include the results for The Verge from prior periods (when this project was still in our Development segment).

    Six months ended June 30
    (dollars in thousands)

    2025

    %

    2024

    %

    Change

    %
    Lease revenue

    $

    16,772

    100.0

    %

    15,996

    100.0

    %

    776

    4.9

    %
    Depreciation and amortization

    6,673

    39.8

    %

    6,689

    41.8

    %

    (16

    )

    -.2

    %
    Operating expenses

    5,316

    31.7

    %

    5,072

    31.7

    %

    244

    4.8

    %
    Property taxes

    1,978

    11.8

    %

    1,801

    11.3

    %

    177

    9.8

    %
    Cost of operations

    13,967

    83.3

    %

    13,562

    84.8

    %

    405

    3.0

    %
    Operating profit before G&A

    $

    2,805

    16.7

    %

    2,434

    15.2

    %

    371

    15.2

    %
    Depreciation and amortization

    6,673

    6,689

    (16

    )
    Unrealized rents & other

    (111

    )

    46

    (157

    )
    Net operating income

    $

    9,367

    55.8

    %

    9,169

    57.3

    %

    198

    2.2

    %

    The combined consolidated and unconsolidated pro rata net operating income this quarter for this segment was $9,367,000, up $198,000 or 2% compared to $9,169,000 in the same period last year. Most of this increase was from the lease up of The Verge which contributed $1,486,000 of pro rata NOI to this segment compared to $1,316,000 in the Development segment in the same period last year, an increase of $170,000. Same store NOI increased $28,000.

    Apartment Building

    Units
    Pro rata NOI
    YTD 2025
    Pro rata NOI
    YTD 2024

    Avg.
    Occupancy
    YTD 2025

    Avg.
    Occupancy
    YTD 2024

    Renewal
    Success
    Rate YTD
    2025

    Renewal % increase
    YTD 2025
    Dock 79 Anacostia DC

    305

    $

    1,900,000

    $

    1,878,000

    95.6

    %

    94.2

    %

    70.4

    %

    4.8

    %
    Maren Anacostia DC

    264

    $

    1,745,000

    $

    1,847,000

    93.7

    %

    94.3

    %

    54.0

    %

    4.9

    %
    Riverside Greenville

    200

    $

    437,000

    $

    439,000

    92.9

    %

    93.3

    %

    56.8

    %

    5.0

    %
    Bryant Street DC

    487

    $

    3,081,000

    $

    3,051,000

    93.5

    %

    92.0

    %

    51.8

    %

    2.1

    %
    .408 Jackson Greenville

    227

    $

    718,000

    $

    638,000

    96.1

    %

    94.6

    %

    58.8

    %

    4.6

    %
    Verge Anacostia DC

    344

    $

    1,486,000

    $

    1,316,000

    93.4

    %

    89.5

    %

    69.1

    %

    2.8

    %
    Multifamily Segment

    1,827

    $

    9,367,000

    $

    9,169,000

    94.1

    %

    92.7

    %

    Multifamily Segment (Consolidated – Dock 79 and The Maren)

    Six months ended June 30
    (dollars in thousands)

    2025

    %

    2024

    %

    Change

    %
    Lease revenue

    $

    10,991

    100.0

    %

    10,910

    100.0

    %

    81

    .7

    %
    Depreciation and amortization

    3,930

    35.7

    %

    3,962

    36.3

    %

    (32

    )

    -.8

    %
    Operating expenses

    3,112

    28.3

    %

    2,980

    27.3

    %

    132

    4.4

    %
    Property taxes

    1,283

    11.7

    %

    1,100

    10.1

    %

    183

    16.6

    %
    Cost of operations

    8,325

    75.7

    %

    8,042

    73.7

    %

    283

    3.5

    %
    Operating profit before G&A

    $

    2,666

    24.3

    %

    2,868

    26.3

    %

    (202

    )

    -7.0

    %

    Total revenues for our two consolidated joint ventures were $10,991,000, an increase of $81,000 versus $10,910,000 in the same period last year. Total operating profit before G&A for the consolidated joint ventures was $2,666,000, a decrease of $202,000, or 7% versus $2,868,000 in the same period last year primarily due to higher operating expenses ($132,000) and property taxes ($183,000).

    Multifamily Segment (Pro rata unconsolidated)

    Our Multifamily Segment has four unconsolidated joint ventures (Bryant Street, The Verge, Riverside, and .408 Jackson). Riverside was moved from the Development segment to the Multifamily segment in 2022, Bryant Street and .408 Jackson moved as of the beginning of 2024 and The Verge moved effective July 1, 2024, each upon reaching lease up stabilization.

    Six months ended June 30
    (dollars in thousands)

    2025

    %

    2024

    %

    Change

    %
    Lease revenue

    $

    10,785

    100.0

    %

    10,051

    100.0

    %

    734

    7.3

    %
    Depreciation and amortization

    4,518

    41.9

    %

    4,518

    45.0

    %

    –

    –

    %
    Operating expenses

    3,666

    34.0

    %

    3,452

    34.3

    %

    214

    6.2

    %
    Property taxes

    1,279

    11.9

    %

    1,204

    12.0

    %

    75

    6.2

    %
    Cost of operations

    9,463

    87.7

    %

    9,174

    91.3

    %

    289

    3.2

    %
    Operating profit

    $

    1,322

    12.3

    %

    877

    8.7

    %

    445

    50.7

    %

    For our four unconsolidated joint ventures, pro rata revenues were $10,785,000, an increase of $734,000 or 7% compared to $10,051,000 in the same period last year. Pro rata operating profit before G&A was $1,322,000, an increase of $445,000, or 51% versus $877,000 in the same period last year. The increase was due to lease up at The Verge and higher revenues at Bryant Street and .408 Jackson.

    Industrial and Commercial Segment

    Six months ended June 30
    (dollars in thousands)

    2025

    %

    2024

    %

    Change

    %
    Lease revenue

    $

    2,721

    100.0

    %

    2,898

    100.0

    %

    (177

    )

    (6.1

    %)
    Depreciation and amortization

    962

    35.4

    %

    723

    24.9

    %

    239

    33.1

    %
    Operating expenses

    463

    17.0

    %

    406

    14.0

    %

    57

    14.0

    %
    Property taxes

    210

    7.7

    %

    127

    4.4

    %

    83

    65.4

    %
    Cost of operations

    1,635

    60.1

    %

    1,256

    43.3

    %

    379

    30.2

    %
    Operating profit before G&A

    $

    1,086

    39.9

    %

    1,642

    56.7

    %

    (556

    )

    (33.9

    %)
    Depreciation and amortization

    962

    723

    239
    Unrealized revenues

    101

    (19

    )

    120
    Net operating income

    $

    2,149

    79.0

    %

    $

    2,346

    81.0

    %

    $

    (197

    )

    (8.4

    %)

    Total revenues in this segment were $2,721,000, down $177,000 or 6%, over the same period last year. Operating profit before G&A was $1,086,000, down $556,000 or 34% from $1,642,000 in the same period last year due to $216,000 of depreciation and $30,000 of operating costs at our spec Chelsea warehouse placed in service in April, a write-off of $118,000 unrealized rent receivable and $34,000 deferred leasing commission related to a tenant that defaulted, and the related lower occupancy. Net operating income in this segment was $2,149,000, down $197,000 or 8% compared to the same period last year.

    Mining Royalty Lands Segment Results

    Six months ended June 30
    (dollars in thousands)

    2025

    %

    2024

    %

    Change

    %
    Mining royalty and rent revenue

    $

    6,843

    100.0

    %

    6,194

    100.0

    %

    649

    10.5

    %
    Depreciation, depletion and amortization

    355

    5.2

    %

    308

    5.0

    %

    47

    15.3

    %
    Operating expenses

    32

    0.5

    %

    33

    0.5

    %

    (1

    )

    -3.0
    Property taxes

    151

    2.2

    %

    144

    2.3

    %

    7

    4.9

    %
    Cost of operations

    538

    7.9

    %

    485

    7.8

    %

    53

    10.9

    %
    Operating profit before G&A

    $

    6,305

    92.1

    %

    5,709

    92.2

    %

    596

    10.4

    %
    Depreciation and amortization

    355

    308

    47
    Unrealized revenues

    289

    (229

    )

    518
    Net operating income

    $

    6,949

    101.5

    %

    $

    5,788

    93.4

    %

    $

    1,161

    20.1

    %

    Total revenues in this segment were $6,843,000, an increase of $649,000 or 10% versus $6,194,000 in the same period last year. Royalty revenues in the prior year were impacted by the deduction of royalties to resolve an $842,000 overpayment which we referenced previously. Through the six months of last year, the tenant withheld $566,000 in royalties otherwise due to the Company. Royalty tons were down 7% primarily due to a decrease at one location that had one-time project specific rail shipments in the prior year. The revenue reduction from the decreased volume was more than offset by increased royalties per ton (up 8.5% excluding the prior year payment deduction) along with the overpayment reduction in the prior year. Total operating profit before G&A in this segment was $6,305,000, an increase of $596,000 versus $5,709,000 in the same period last year. Net operating income in this segment was $6,949,000, up $1,161,000 or 20% compared to the same period last year due to higher revenues and a $518,000 increase in unrealized revenues due to temporarily higher minimum royalty payments at one location which are straight-lined across the life of the lease for GAAP revenue purposes.

    Development Segment Results

    Six months ended June 30
    (dollars in thousands)

    2025

    2024

    Change
    Lease revenue

    $

    601

    608

    (7

    )
    Depreciation, depletion and amortization

    86

    85

    1
    Operating expenses

    832

    150

    682
    Property taxes

    296

    296

    –
    Cost of operations

    1,214

    531

    683
    Operating profit before G&A

    $

    (613

    )

    77

    (690

    )

    FRP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (In thousands, except share data)

    Assets:

    June 30
    2025

    December 31
    2024
    Real estate investments at cost:
    Land

    $

    168,927

    168,943
    Buildings and improvements

    308,561

    283,421
    Projects under construction

    16,167

    32,770
    Total investments in properties

    493,655

    485,134
    Less accumulated depreciation and depletion

    82,916

    77,695
    Net investments in properties

    410,739

    407,439
    Real estate held for investment, at cost

    12,312

    11,722
    Investments in joint ventures

    139,098

    153,899
    Net real estate investments

    562,149

    573,060
    Cash and cash equivalents

    153,167

    148,620
    Cash held in escrow

    1,266

    1,315
    Accounts receivable, net

    1,586

    1,352
    Federal and state income taxes receivable

    778

    –
    Unrealized rents

    1,264

    1,380
    Deferred costs

    1,942

    2,136
    Other assets

    630

    622
    Total assets

    $

    722,782

    728,485
    Liabilities:
    Secured notes payable

    $

    180,371

    178,853
    Accounts payable and accrued liabilities

    6,739

    6,026
    Other liabilities

    1,487

    1,487
    Federal and state income taxes payable

    –

    611
    Deferred revenue

    2,842

    2,437
    Deferred income taxes

    67,655

    67,688
    Deferred compensation

    1,494

    1,465
    Tenant security deposits

    780

    805
    Total liabilities

    261,368

    259,372
    Commitments and contingencies
    Equity:
    Common stock, $.10 par value 25,000,000 shares authorized, 19,109,234 and 19,046,894 shares issued and outstanding, respectively

    1,911

    1,905
    Capital in excess of par value

    70,196

    68,876
    Retained earnings

    354,555

    352,267
    Accumulated other comprehensive income, net

    40

    55
    Total shareholders’ equity

    426,702

    423,103
    Noncontrolling interests

    34,712

    46,010
    Total equity

    461,414

    469,113
    Total liabilities and equity

    $

    722,782

    728,485

    Non-GAAP Financial Measures.

    To supplement the financial results presented in accordance with GAAP, FRP presents certain non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. We believe these non-GAAP measures provide useful information to our Board of Directors, management and investors regarding certain trends relating to our financial condition and results of operations. Our management uses these non-GAAP measures to compare our performance to that of prior periods for trend analyses, purposes of determining management incentive compensation and budgeting, forecasting and planning purposes. We provide Pro rata net operating income (NOI) because we believe it assists investors and analysts in estimating our economic interest in our consolidated and unconsolidated partnerships, when read in conjunction with our reported results under GAAP. This measure is not, and should not be viewed as, a substitute for GAAP financial measures. For ease of comparison all the figures in the tables below include the results for The Verge in the Multifamily segment for all periods shown.

    Pro rata Net Operating Income Reconciliation
    Six months ending 6/30/25 (in thousands)
    Industrial and
    Commercial
    Segment
    Development
    Segment
    Multifamily
    Segment
    Mining
    Royalties
    Segment
    Unallocated
    Corporate
    Expenses
    FRP
    Holdings
    Totals
    Net income (loss)

    $

    831

    1,086

    (2,531

    )

    4,806

    (1,934

    )

    2,258
    Income tax allocation

    255

    333

    (788

    )

    1,476

    (572

    )

    704
    Income (loss) before income taxes

    1,086

    1,419

    (3,319

    )

    6,282

    (2,506

    )

    2,962
    Less:
    Unrealized rents

    –

    –

    –

    –
    Interest income

    1,876

    1

    3,032

    4,909
    Plus:
    Unrealized rents

    101

    –

    14

    289

    –

    404
    Professional fees

    734

    87

    821
    Equity in loss of joint ventures

    –

    (156

    )

    4,543

    23

    4,410
    Interest expense

    –

    –

    1,443

    –

    76

    1,519
    Depreciation/amortization

    962

    86

    3,930

    355

    5,333
    General and administrative

    –

    –

    –

    –

    5,462

    5,462
    Net operating income (loss)

    2,149

    207

    6,697

    6,949

    –

    16,002
    NOI of noncontrolling interest

    (3,052

    )

    (3,052

    )
    Pro rata NOI from unconsolidated joint ventures

    380

    5,722

    6,102
    Pro rata net operating income

    $

    2,149

    587

    9,367

    6,949

    –

    19,052

    Pro-rata Net Operating Income Reconciliation
    Six months ended 06/30/24 (in thousands)
    Industrial and
    Commercial
    Segment
    Development
    Segment
    Multifamily
    Segment
    Mining
    Royalties
    Segment
    Unallocated
    Corporate
    Expenses
    FRP
    Holdings
    Totals
    Net income (loss)

    $

    805

    (1,115

    )

    (2,477

    )

    3,876

    2,305

    3,394
    Income tax allocation

    247

    (343

    )

    (772

    )

    1,191

    993

    1,316
    Income (loss) before income taxes

    1,052

    (1,458

    )

    (3,249

    )

    5,067

    3,298

    4,710
    Less:
    Unrealized rents

    19

    9

    229

    257
    Interest income

    2,554

    3,937

    6,491
    Plus:

    –
    Professional fees

    15

    15
    Equity in loss of joint ventures

    –

    1,782

    3,939

    22

    5,743
    Interest expense

    –

    –

    1,652

    –

    88

    1,740
    Depreciation/amortization

    723

    85

    3,962

    308

    5,078
    General and administrative

    590

    2,307

    526

    620

    551

    4,594

    –
    Net operating income (loss)

    2,346

    162

    6,836

    5,788

    –

    15,132
    NOI of noncontrolling interest

    (3,111

    )

    (3,111

    )
    Pro-rata NOI from unconsolidated joint ventures

    299

    5,444

    5,743
    Pro-rata net operating income

    $

    2,346

    461

    9,169

    5,788

    –

    17,764

    Conference Call

    The Company will host a conference call on Thursday, August 7, 2025 at 9:00 a.m. (EDT). Analysts, stockholders and other interested parties may access the teleconference live by calling 1-800-343-4849 (passcode 83364) within the United States. International callers may dial 1-203-518-9848 (passcode 83364). Audio replay will be available until August 21, 2025 by dialing 1-800-839-2385 within the United States. International callers may dial 1-402-220-7203. No passcode needed. An audio replay will also be available on the Company’s website under investors, financials, quarterly results (https://investors.frpdev.com/quarterly-reports) following the call.

    Additional Information

    Our investor relations website is https://investors.frpdev.com and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, press releases, quarterly earnings presentations, investor presentations, and corporate governance information, which may contain material information about us, and you may subscribe to Email Alerts to be notified of new information posted to this site.

    Investors are cautioned that any statements in this press release which relate to the future are, by their nature, subject to risks and uncertainties that could cause actual results and events to differ materially from those indicated in such forward-looking statements. These include, but are not limited to: the possibility that we may be unable to find appropriate investment opportunities; levels of construction activity in the markets served by our mining properties; demand for flexible warehouse/office facilities in the MidAtlantic and Florida; multifamily demand in Washington D.C. and Greenville, South Carolina; our ability to obtain zoning and entitlements necessary for property development; the impact of lending and capital market conditions on our liquidity; our ability to finance projects or repay our debt; general real estate investment and development risks; vacancies in our properties; risks associated with developing and managing properties in partnership with others; competition; our ability to renew leases or re-lease spaces as leases expire; illiquidity of real estate investments; bankruptcy or defaults of tenants; the impact of restrictions imposed by our credit facility; the level and volatility of interest rates; environmental liabilities; inflation risks; cybersecurity risks; as the impact of tariffs on our industrial tenants and construction costs; well as other risks listed from time to time in our SEC filings; including but not limited to; our annual and quarterly reports. We have no obligation to revise or update any forward-looking statements, other than as imposed by law, as a result of future events or new information. Readers are cautioned not to place undue reliance on such forward-looking statements.

    FRP Holdings, Inc. is a holding company engaged in the real estate business, namely (i) leasing and management of commercial properties owned by the Company, (ii) leasing and management of mining royalty land owned by the Company, (iii) real property acquisition, entitlement, development and construction primarily for apartment, retail, warehouse, and office, and (iv) leasing and management of residential apartment buildings.

    Contact:

    Matthew C. McNulty
    Chief Financial Officer
    (904) 858-9100

    SOURCE: FRP Holdings, Inc.

    View the original press release on ACCESS Newswire

    The post FRP Holdings, Inc. Reports Fiscal 2025 Second Quarter Results appeared first on DA80 Hub.

  • Protagonist Reports Second Quarter 2025 Financial Results and Provides Corporate Update

    Protagonist Reports Second Quarter 2025 Financial Results and Provides Corporate Update

    NDA for icotrokinra for the treatment of adults and adolescents 12 years of age and older with moderate to severe plaque psoriasis (PsO) submitted to U.S. FDA in July

    ANTHEM Phase 2b trial data of icotrokinra in ulcerative colitis scheduled for an oral presentation at the 33rd United European Gastroenterology Week (UEGW) on October 7th

    Phase 3 VERIFY trial data set of rusfertide in polycythemia vera (PV) presented during plenary session at ASCO; U.S. NDA filing on track for Q4

    Cash, cash equivalents and marketable securities of $673.0 million as of June 30, 2025, anticipated to provide cash runway through at least end of 2028

    NEWARK, CA / ACCESS Newswire / August 6, 2025 / Protagonist Therapeutics (Nasdaq:PTGX) (“Protagonist” or “the Company”) today reported financial results for the second quarter ended June 30, 2025, and provided a corporate update.

    “Thus far, 2025 has been a year of breakthrough accomplishments for Protagonist, as we saw rusfertide the topic of the prestigious ASCO Plenary Session in May, the announcement of an oral and injectable triple agonist anti-obesity peptide development candidate in June, and most recently the first ever NDA filing of icotrokinra for psoriasis last month,” said Dinesh V. Patel, Ph.D., the Company’s President and CEO. “Over the coming months, we look forward to the NDA filing of rusfertide for polycythemia vera, and advancing our wholly owned early-stage assets PN-881 and PN-477 into clinical and IND-enabling studies respectively.”

    Second Quarter 2025 Recent Developments and Upcoming Milestones

    Rusfertide: Subcutaneous Injectable Hepcidin Mimetic for Polycythemia Vera (PV) and Other Blood Disorders

    • The full data set from the positive Phase 3 VERIFY trial of rusfertide in PV was presented during the prestigious plenary session at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting on Sunday, June 1st.

    • The Company hosted an investor conference call on Monday, June 2nd discussing data shared during the plenary presentation. A replay of the call and accompanying presentation is available on the Company’s Investor Relations Events and Presentations webpage here.

    • Rusfertide U.S. NDA filing for treatment of patients with PV, by partner Takeda Pharmaceuticals, expected in Q4 of this year.

    Icotrokinra (JNJ-2113): Oral IL-23 Receptor Antagonist

    • On July 21st, the Company and its partner Johnson and Johnson announced the first icotrokinra NDA filing for the treatment of adults and adolescents 12 years of age and older with moderate to severe plaque psoriasis (PsO). The application included data from four pivotal Phase 3 studies conducted as part of the ICONIC clinical development program, including ICONIC-LEAD, ICONIC-TOTAL and ICONIC-ADVANCE 1 & ICONIC-ADVANCE 2.

    • On May 9th, data from the Phase 3 ICONIC-TOTAL study in difficult-to-treat scalp and genital psoriasis was presented at the Society for Investigative Dermatology Annual Meeting held in San Diego from May 7-10th.

      • On April 10th, data from the adolescent cohort of the Phase 3 ICONIC-LEAD study in moderate-to-severe plaque psoriasis was presented as a late-breaking abstract at the 2025 World Congress of Pediatric Dermatology (WCPD).

    • On March 10th, positive top line results from the Phase 2b ANTHEM trial in moderately to severely active ulcerative colitis (UC) were announced. The full data set is scheduled for an oral presentation at the 33rd United European Gastroenterology Week (UEGW) on October 7th.

    Development Pipeline:First-in-Class Oral IL-17 Peptide Antagonist (PN-881) & GLP-1, GIP, & GCG Triple Agonist (PN-477)

    • On June 30th, the Company hosted an investor call announcing the selection of PN-477, a potential best-in-class GLP-1, GIP, GCG receptor triple agonist peptide with oral and subcutaneous routes of administration, as a development candidate for the treatment of obesity. A replay of the call and accompanying presentation is available on the Company’s Investor Relations Events and Presentations webpage here.

    • On May 9th, preclinical data on PN-881 was presented at the Society for Investigative Dermatology (SID) Annual Meeting held in San Diego from May 7-10th. Key takeaways from the pre-clinical characterization of the IL-17 oral peptide antagonist PN-881:

      • Potently and selectively binds IL-17A and -17F, blocking the three dimeric forms of the cytokine.

      • Nanomolar to picomolar in vitro potency comparable to bimekizumab and superior (70-fold) to secukinumab.

      • Metabolic stability in several matrices across several species, making it a suitable candidate for oral delivery.

      • Pharmocodynamic-based target engagement in a mouse IL-17 challenge model after oral dosing.

      • Dose-dependent efficacy with significant reduction in skin thickness in a 5-day rat IL-23 induced skin inflammation model after oral dosing.

    Second Quarter 2025 Financial Results

    • Cash, Cash Equivalents and Marketable Securities: Cash, cash equivalents and marketable securities as of June 30, 2025, were $673.0 million as compared to $559.2 million as of December 31, 2024.

    Three Months Ended

    Six Months Ended

    June 30,

    June 30,
    (in thousands, except per share amounts)

    2025

    2024

    2025

    2024

    (Unaudited)
    License and collaboration revenue

    $

    5,546

    $

    4,167

    $

    33,867

    $

    259,120
    Research and development expense

    $

    37,036

    $

    33,520

    $

    72,929

    $

    67,254
    General and administrative expense

    $

    10,551

    $

    9,440

    $

    22,289

    $

    24,350
    Net (loss) income

    $

    (34,771

    )

    $

    (30,616

    )

    $

    (46,426

    )

    $

    176,724
    Basic (loss) earnings per share

    $

    (0.55)

    $

    (0.50)

    $

    (0.73)

    $

    2.89
    Diluted (loss) earnings per share

    $

    (0.55)

    $

    (0.50)

    $

    (0.73)

    $

    2.77

    • License and Collaboration Revenue:

      • License and collaboration revenue of $5.5 million and $4.2 million for the second quarter of 2025 and 2024, respectively, was comprised of development services we provided under the Takeda collaboration agreement.

      • License and collaboration revenue of $33.9 million for the six months ended June 30, 2025 was comprised of (i) proportional recognition of a $25 million milestone earned from Takeda in Q1 25, and (ii) development services we provided during the period. License and collaboration revenue of $259.1 million for the six months ended June 30, 2024 included (i) $254.1 million of the $300.0 million initial transaction price for the Takeda collaboration agreement allocated to the rusfertide license upon effectiveness of the agreement, and (ii) development services we provided during the period.

    • Research and Development (“R&D”) Expense: The increases in R&D expense from the prior year periods were primarily due to increases in pre-clinical and drug discovery research expenses, including costs related to our new product candidates, IL-17 oral peptide antagonist PN-881 and obesity triple agonist peptide PN-477, partially offset by decreases in rusfertide expenses related to the Phase 3 VERIFY clinical trial.

    • General and Administrative (“G&A”) Expense: The increase in G&A expense for the second quarter of 2025 from the prior year period was primarily due to increases in stock-based compensation and other personnel-related expenses. The decrease in G&A expense for the six months ended June 30, 2025 from the prior year period was primarily due to $4.6 million in advisory and legal fees recognized in 2024 related to the Takeda collaboration, partially offset by increases in stock-based compensation expense and other personnel-related expenses.

    • Net (Loss) Income: Net loss was $34.8 million, or $0.55 per basic and diluted share, for the second quarter of 2025 as compared to net loss of $30.6 million, or $0.50 per basic and diluted share, for the second quarter of 2024. Net loss was $46.4 million, or $0.73 per basic and diluted share, for the six months ended June 30, 2025 as compared to net income of $176.7 million, or $2.89 per basic share and $2.77 per diluted share, for the six months ended June 30, 2024, which included recognition of $259.1 million revenue related to the Takeda collaboration agreement upfront payment of $300.0 million.

    About Protagonist

    Protagonist Therapeutics is a discovery through late-stage development biopharmaceutical company. Two novel peptides derived from Protagonist’s proprietary discovery platform are currently in advanced Phase 3 clinical development, with a New Drug Application (NDA) for icotrokinra submitted to the FDA in July and an NDA submission for rusfertide expected by end of 2025. Icotrokinra (formerly, JNJ-2113), a first-in-class investigational targeted oral peptide that selectively blocks the Interleukin-23 receptor (“IL-23R”) is licensed to J&J Innovative Medicines (“JNJ”), formerly Janssen Biotech, Inc. Following icotrokinra’s joint discovery by Protagonist and JNJ scientists pursuant to the companies’ IL-23R collaboration, Protagonist was primarily responsible for development of icotrokinra through Phase 1, with JNJ assuming responsibility for development in Phase 2 and beyond. Rusfertide, a mimetic of the natural hormone hepcidin, is currently in Phase 3 development for the rare blood disorder polycythemia vera (PV). Rusfertide is being co-developed and will be co-commercialized with Takeda Pharmaceuticals pursuant to a worldwide collaboration and license agreement entered in 2024 under which the Company remains primarily responsible for development through NDA filing. The Company also has a number of pre-clinical stage drug discovery programs addressing biologically and commercially validated targets, including IL-17 oral peptide antagonist PN-881, obesity triple agonist peptide PN-477, and the oral hepcidin program.

    More information on Protagonist, its pipeline drug candidates and clinical studies can be found on the Company’s website at https://www.protagonist-inc.com/.

    Cautionary Note on Forward-Looking Statements

    This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the potential benefits of icotrokinra and rusfertide, the timing of icotrokinra and rusfertide clinical trials, and timing of developments and announcements in our discovery programs. In some cases, you can identify these statements by forward-looking words such as “anticipate,” “believe,” “may,” “will,” “expect,” or the negative or plural of these words or similar expressions. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, our ability to develop and commercialize our product candidates, our ability to earn milestone payments under our collaboration agreements with Janssen and Takeda, our ability to use and expand our programs to build a pipeline of product candidates, our ability to obtain and maintain regulatory approval of our product candidates, our ability to operate in a competitive industry and compete successfully against competitors that have greater resources than we do, and our ability to obtain and adequately protect intellectual property rights for our product candidates. Additional information concerning these and other risk factors affecting our business can be found in our periodic filings with the Securities and Exchange Commission, including under the heading “Risk Factors” contained in our most recently filed periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.

    Investor Relations Contact

    Corey Davis, Ph.D.
    LifeSci Advisors
    cdavis@lifesciadvisors.com
    +1 212 915 2577

    Media Relations Contact

    Virginia Amann
    ENTENTE Network of Companies
    virginiaamann@ententeinc.com
    +1 833 500 0061 ext 1

    PROTAGONIST THERAPEUTICS, INC.
    Condensed Consolidated Statements of Operations
    (Unaudited)
    (Amounts in thousands except share and per share data)

    Three Months Ended

    Six Months Ended

    June 30,

    June 30,

    2025

    2024

    2025

    2024
    License and collaboration revenue

    $

    5,546

    $

    4,167

    $

    33,867

    $

    259,120
    Operating expense:
    Research and development (1)

    37,036

    33,520

    72,929

    67,254
    General and administrative (1)

    10,551

    9,440

    22,289

    24,350
    Total operating expense

    47,587

    42,960

    95,218

    91,604
    (Loss) income from operations

    (42,041

    )

    (38,793

    )

    (61,351

    )

    167,516
    Interest income

    7,406

    7,404

    14,979

    11,780
    Other income, net

    36

    97

    118

    78
    (Loss) income before income tax expense (benefit)

    (34,599

    )

    (31,292

    )

    (46,254

    )

    179,374
    Income tax expense (benefit)

    172

    (676

    )

    172

    2,650
    Net (loss) income

    $

    (34,771

    )

    $

    (30,616

    )

    $

    (46,426

    )

    $

    176,724
    Net (loss) income per share, basic

    $

    (0.55

    )

    $

    (0.50

    )

    $

    (0.73

    )

    $

    2.89
    Net (loss) income per share, diluted

    $

    (0.55

    )

    $

    (0.50

    )

    $

    (0.73

    )

    $

    2.77
    Weighted-average shares used to compute net (loss) income per share, basic

    63,510,537

    61,305,289

    63,238,682

    61,080,489
    Weighted-average shares used to compute net (loss) income per share, diluted

    63,510,537

    61,305,289

    63,238,682

    63,909,633

    (1) Amount includes non-cash stock-based compensation expense.

    Stock-based Compensation
    (Unaudited, in thousands)

    Three Months Ended

    Six Months Ended

    June 30,

    June 30,

    2025

    2024

    2025

    2024
    Research and development

    $

    6,291

    $

    5,097

    $

    14,282

    $

    10,385
    General and administrative

    4,621

    3,847

    10,432

    7,911
    Total stock-based compensation expense

    $

    10,912

    $

    8,944

    $

    24,714

    $

    18,296

    PROTAGONIST THERAPEUTICS, INC.
    Selected Condensed Consolidated Balance Sheet Data
    (Unaudited, In thousands)

    June 30,

    December 31,

    2025

    2024
    Cash, cash equivalents and marketable securities$

    672,958

    $

    559,165
    Working capital

    567,019

    544,243
    Total assets

    718,006

    744,725
    Deferred revenue

    20,063

    30,567
    Accumulated deficit

    (386,948

    )

    (340,522

    )
    Total stockholders’ equity

    668,018

    675,295

    SOURCE: Protagonist Therapeutics

    View the original press release on ACCESS Newswire

    The post Protagonist Reports Second Quarter 2025 Financial Results and Provides Corporate Update appeared first on DA80 Hub.

  • Avel eCare Hosts National Emergency Airway Course to Sharpen Life-Saving Intubation Skills

    Avel eCare Hosts National Emergency Airway Course to Sharpen Life-Saving Intubation Skills

    90+ medical professionals gather in Sioux Falls for hands-on training, real-time telemedicine support, and continuing education through AVELearn

    SIOUX FALLS, SD / ACCESS Newswire / August 6, 2025 / Over 90 medical professionals from across the country gathered in Sioux Falls for the 2025 Avel eCare Emergency Airway Training Program, powered by The Difficult Airway Course™. This immersive, two-day program combined classroom instruction with high-impact, hands-on practice to help clinicians build confidence and precision in one of the most critical emergency procedures-intubation.

    A standout feature of the course was the use of over 100 porcine tracheas, allowing participants to practice surgical and video-guided airway techniques on a wide variety of anatomies. These real tracheas replicate the diverse challenges clinicians face in real-world airway emergencies, helping providers build muscle memory and quick-response capability.

    “Every airway is different, and every second matters,” said Dr. Kelly Rhone, Chief Medical Officer at Avel eCare. “This course gives physicians the repetition and exposure they need to act decisively and safely when it counts.”

    The training also highlighted Avel’s real-time telemedicine support, including the use of video laryngoscopes-specialized tools with mounted cameras. These allow remote Avel physicians to see exactly what on-site providers see during a live intubation and verbally guide them step-by-step.

    “It’s not just about teaching intubation,” added Dr. Rhone. “It’s about being there-virtually-during the most critical seconds, helping physicians feel confident, supported, and prepared.”

    For some, the impact of the course has already been felt in the field.

    “I had to perform a surgical cricothyrotomy for the first time in the ER. I definitely would not have felt comfortable even attempting it before I had taken this course,” said Bryon Bellinger, ARNP, of Guttenberg Municipal Hospital. “I was also fortunate to have an Avel physician on camera helping me with it as well. I recommend [the course] to everyone.”

    Course highlights included:

    • Pediatric Airway Case Discussions

    • Surgical Airway Techniques

    • Bag-Valve Mask and Laryngoscopy Workshops

    • Code Airway Simulations

    • Video Laryngoscopy Skill Stations

    But training doesn’t stop at the end of the workshop. Avel eCare is committed to continuing education through its AVELearn platform, which provides ongoing access to clinical webinars, simulated learning, and accredited courses.

    “Beyond airway training, Avel eCare’s AVELearn platform provides a wide range of education opportunities tailored to the unique needs of our partners. Whether it’s accessing credit hours online, participating in live webinars, or engaging in simulated education, Avel eCare ensures that continuing education is accessible, practical, and integrated into our partnership” said Dr. Luke Van Oeveren, Avel eEmergency Physician.

    For Avel, this event reflects a broader mission: to empower clinicians with the tools, training, and telemedicine technology they need-whether they’re in a metro trauma center or a rural ER.

    About Avel eCare
    Avel eCare is one of the nation’s leading telemedicine providers, delivering 24/7 virtual clinical support across emergency care, ICU, behavioral health, pharmacy, hospitalist, and specialty services. Through innovative programs like AVELearn, Avel supports continuous education and skill development for healthcare teams, helping them deliver consistent, high-quality care-anytime, anywhere. Learn more at avelecare.com/education.

    Media Contact:
    Jessica Gaikowski
    Avel eCare
    media@avelecare.com

    SOURCE: Avel eCare

    View the original press release on ACCESS Newswire

    The post Avel eCare Hosts National Emergency Airway Course to Sharpen Life-Saving Intubation Skills appeared first on DA80 Hub.

  • Arrive AI: Autonomous Delivery Set to Skyrocket as FAA Clears Flight Path for Drone Delivery

    Arrive AI: Autonomous Delivery Set to Skyrocket as FAA Clears Flight Path for Drone Delivery

    Indiana company says new drone regulations will speed improvements to package delivery security for Americans

    INDIANAPOLIS, IN / ACCESS Newswire / August 6, 2025 / Arrive AI (NASDAQ:ARAI), an autonomous delivery network anchored by patented AI-powered Arrive Points™, celebrated the Trump administration’s proposed new rule regarding drones flying Beyond Visual Line of Sight (BVLOS), that it said would unleash American innovation and safely integrate unmanned aircraft systems (UAS) into the national airspace system.

    The proposed rule would eliminate individual flight waivers and introduce key safety roles like Operations Supervisor and Flight Coordinator, helping commercial drone flights take off nationwide. U.S. Transportation Secretary Sean P. Duffy said the move would “unleash American drone dominance.”

    The announcement, made late yesterday, comes as Arrive AI is poised to roll out its solution for longstanding issues of security within the package delivery industry, a $191 billion market in the U.S. alone. Arrive AI’s patented Arrive Points anchor the company’s connected delivery network and proprietary technology, which enables secure, verifiable, and contactless delivery for drone, ground robot, or traditional human driver. The platform provides a secure chain-of-custody, ensuring every delivery is tracked and authenticated from the moment it enters an Arrive Point until it is retrieved.

    “This is a watershed moment,” said Dan O’Toole, founder and CEO of Arrive AI. “The proposed BVLOS rule brings us significantly closer to a future where drones, robots and AI-powered, smart delivery points work together to move goods securely, efficiently, and autonomously, particularly in healthcare, public safety, and rural last-mile logistics.”

    Arrive AI officials have long sought to loosen federal restrictions in the industry. “Other countries are ahead of us in using drones for delivery, and in the few cases in the U.S. where it’s been allowed, consumers love it,” O’Toole said.

    Arrive AI is already working with Skye Air Mobility, India’s dominant and rapidly expanding hyperlocal drone delivery platform. Skye Air currently makes about 6,000 deliveries per day in suburban New Delhi. The companies expect to have 500 Arrive Points across Skye Air’s service areas in the future, serving a population exceeding 33 million.

    FAA Administrator Bryan Bedford said normalizing drone flights “is key to realizing drones’ societal and economic benefits” for package delivery” and other uses.

    O’Toole said he is eager to see the rule approved and for Americans to have the same fast, convenient, more sustainable form of delivery.

    “This is the way of the future,” he said. “Arrive AI will make that last inch of the delivery process so much better for the delivery industry as well as users, who’ll be able to receive and return items with the touch of a button. They’re ready for this, and so are we.”

    -30-

    About Arrive AI

    Arrive AI’s patented Autonomous Last Mile (ALM) platform enables secure, efficient delivery to and from a smart, AI-powered mailbox, whether by drone, ground robot or human courier. The platform provides real-time tracking, smart logistics alerts and advanced chain of custody controls to support shippers, delivery services and autonomous networks. By combining artificial intelligence with autonomous technology, Arrive AI makes the exchange of goods between people, robots and drones frictionless and convenient. Its system integrates with smart home devices such as doorbells, lighting and security systems to streamline the entire last-mile delivery experience. Learn more at www.arriveai.com and via the company’s press kit.

    Media contact: Cheryl Reed at media@arriveai.com

    Investor Relations media@arriveai.com

    Contact: Alliance Advisors IR at ARAI.IR@allianceadvisors.com

    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of Arrive AI’s management in connection with this news release or related events contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements (including statements related to the closing, and the anticipated benefits to the Company, of the private placement described herein) related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would”, “optimistic” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors which may be beyond our control. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Potential investors should review Arrive AI’s Registration Statement for more complete information, including the risk factors that may affect future results, which are available for review at www.sec.gov. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    SOURCE: Arrive AI Inc.

    View the original press release on ACCESS Newswire

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  • Announcing the 2025 Halton Region Consumer Choice Award Winners

    Announcing the 2025 Halton Region Consumer Choice Award Winners

    OAKVILLE, ONTARIO / ACCESS Newswire / August 6, 2025 / Consumer Choice Award is pleased to announce the 2025 award recipients in the Halton Region. These businesses have been meticulously selected through independent market research, reflecting their commitment to excellence and unparalleled service in their city. Consumer Choice Award celebrates those who have consistently set the benchmark for quality and customer satisfaction. Congratulations to the 2025 Halton Region Consumer Choice Award Winners.

    HALTON REGION AWARD RECIPIENTS

    Academy for Mathematics & English
    Tutoring
    www.tutoringacademy.ca/burlington
    www.tutoringacademy.ca/glenabbey

    Bullard Brothers Painting
    Painting Contractor
    www.oakvillepainting.ca

    Global Citizen Uniforms and Promotional Products
    Promotional Products
    www.globalcitizen.ca/en

    Instaboothgta
    Photo Booth Rentals
    www.instaboothgta.ca

    JSN Appliances Repair Inc
    Home Appliance Service
    www.jsnappliances.ca

    MinMaxx Realty Inc., Brokerage
    Real Estate – Residential
    www.minmaxx.com

    National Wines
    Wine Agency
    www.nationalwines.ca

    Oakville Academy For The Arts
    School – Dance/ Music
    www.oakvilleacademy.com

    Safe n Sound Environmental Services Ltd.
    Asbestos Removal
    www.safensoundenvironmentalservices.ca

    Smart Repair Centre
    Automobile Body Shop
    www.smartrepaircentre.ca

    VIP Hairlines
    Hair Restoration
    www.viphairlines.com

    Work-Fit Total Therapy Centre
    Pain & Rehabilitation Therapy
    www.workfitphysiotherapy.ca

    Learn more about 2025 Halton Region Consumer Choice Award Winners HERE.

    About Consumer Choice Award:
    Consumer Choice Award has been recognizing and promoting business excellence in North America since 1987. Its rigorous selection process ensures that only the most outstanding service providers in each category earn this prestigious recognition. Visit www.ccaward.com to learn more.

    Contact Information:
    Sumi Saleh
    Communications Manager
    ssaleh@ccaward.com

    SOURCE: Consumer Choice Award

    View the original press release on ACCESS Newswire

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  • Nexscient Signs Letter of Intent to Acquire Flipside AI

    Nexscient Signs Letter of Intent to Acquire Flipside AI

    Expanding Nexscient’s Global Portfolio of AI-Powered Platforms and Services

    LOS ANGELES, CA / ACCESS Newswire / August 6, 2025 / Nexscient, Inc. (OTCQB:NXNT), a leading innovator in artificial intelligence (“AI”) applications and intelligent enterprise solutions, announced today that it has executed a non-binding Letter of Intent (LOI) to acquire substantially all of the assets of Flipside Digital Content Company, Inc., a Philippines-based provider of high-quality data labeling, annotation, and digital transformation services (“Flipside AI”). This acquisition marks a significant step in Nexscient’s strategy to build a global portfolio of AI-powered platforms and services.

    Under the terms of the LOI, Nexscient will acquire substantially all of Flipside AI’s operating assets for a total consideration of approximately $5.94 million, consisting of a combination of cash, a convertible debenture, and Nexscient restricted common stock. In addition to assuming key operating liabilities, Nexscient will also make a capital investment over subsequent years to support Flipside AI’s continued growth and expansion. As part of the transaction, Flipside President and CEO Anthony De Luna will enter into a five-year executive employment agreement and continue leading the newly formed subsidiary. He will also be appointed to the Board of Directors of Nexscient, Inc.

    “We are thrilled to welcome Flipside AI into the Nexscient family,” said Fred E. Tannous, President and CEO of Nexscient, Inc. “This acquisition enhances our capabilities in data labeling and annotation – key components of the AI data training pipeline. Generating over $9.2 million in revenues over the last four years from clients all around the world, Flipside AI’s proven expertise and scalable operations in Southeast Asia will accelerate our global expansion while deepening our commitment to supporting enterprise AI across industries including healthcare, agriculture, automotive, and robotics.”

    “Joining Nexscient represents an exciting new chapter for Flipside,” added Anthony De Luna, President and CEO of Flipside AI. “This partnership provides the strategic capital, international platform, and executive leadership to take our AI data services business to new heights. Together, we aim to become a global force in providing transformative data solutions.”

    The global AI data training market is projected to grow substantially, rising from an estimated $12.7 billion in 2024 to $92.4 billion by 2034, reflecting a compound annual growth rate (CAGR) of 22%1. This surge closely mirrors the anticipated increase in AI system spending worldwide, which is expected to reach $632 billion by 2028, representing a 29% CAGR over the 2024-2028 forecast period2. In parallel, the global data annotation tools market, valued at $2.02 billion in 2023, is forecasted to expand at a CAGR of 31.1%, reaching $23.11 billion by 20323. These trends underscore the critical role of high-quality data in scaling AI capabilities across industries.

    1 Data Labeling Solution and Services Market, FactMR (Apr. 2024)

    2 Worldwide Artificial Intelligence Systems Spending Guide, IDC (Aug. 2024)

    3 Data Annotation Tools Market, Astute Analytica, (Nov. 2024)

    About Nexscient, Inc.

    Nexscient [OTCQB: NXNT] is an emerging-growth company that’s building a global collaborative network of intelligent enterprise applications and technologies through internal development, synergistic acquisitions, and capital investments in companies involved in machine learning, artificial intelligence, and the Industrial Internet of Things technologies. As part of our growth strategy, we also seek to acquire and integrate synergistic AI and machine learning companies and technologies into our collaborative network, further expanding our service offerings while enhancing shareholder value. For more information, please visit https://nexscient.ai.

    About Flipside Digital Content Company, Inc.

    Flipside AI is a premier data engineering company that blends top-tier human expertise with advanced technologies to deliver high-quality data annotation and transformation services. We empower global enterprises across diverse industries to unlock the full potential of their data, enabling them to develop fast, accurate, and scalable AI applications. For more information, please contact us at flipside@nexscient.com

    Forward-Looking Statements

    This release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Nexscient, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy; and (iv) performance of our products and services. You can identify these statements by the use of the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Nexscient’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. These risks and uncertainties also include such additional risk factors as are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, Forms 10-Q and 8-K, and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the SEC Filings section of the Investor Relations section of our website at https://nexscient.ai. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.

    #######

    COMPANY CONTACT:

    Nexscient, Inc.
    Fred E. Tannous, President & CEO
    Email: press@nexscient.com
    Phone: +1 (310) 494-6620
    Web: www.nexscient.com

    SOURCE: Nexscient, Inc.

    View the original press release on ACCESS Newswire

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  • Announcing the 2025 Peel Region Consumer Choice Award Winners

    Announcing the 2025 Peel Region Consumer Choice Award Winners

    MISSISSAUGA, ONTARIO / ACCESS Newswire / August 6, 2025 / Consumer Choice Award is pleased to announce the 2025 award recipients in the Peel Region. These businesses have been meticulously selected through independent market research, reflecting their commitment to excellence and unparalleled service in their city. Consumer Choice Award celebrates those who have consistently set the benchmark for quality and customer satisfaction. Congratulations to the 2025 Peel Region Consumer Choice Award Winners.

    PEEL REGION AWARD RECIPIENTS

    A R Business Brokers Inc., Brokerage.
    Business Brokers
    www.aldrin.ca

    Altima Kitchens and Closets
    Kitchen and Bathroom Renovator
    www.altimakitchensandclosets.com

    Astra Medicare
    Cosmetic Procedure
    www.astramedicare.ca

    Atlas Auto Collision Center Brampton
    Automobile Body Shop
    www.atlasautocollision.com

    Bella Turf
    Artificial Grass
    www.bellaturf.ca

    Blackstone Steakhouse & Grill
    Restaurants/ Steakhouse
    www.blackstonesteakhouse.ca

    City Gate Suites Short Term Rentals
    Executive Suites
    www.citygatesuites.com

    Epic Baskets
    Gift Baskets
    www.epicbaskets.com

    Forever Green Lawn & Landscape
    Landscape Contractor
    www.forevergreeninc.ca

    Gold Cherry Bakery
    Cake Shop
    www.goldcherrybakery.ca

    Gord’s Basement Waterproofing Ltd
    Waterproofing and Foundation Repair
    www.gordsbasementwaterproofing.ca

    Greater Toronto Accessibility
    Accessibility Contractors
    www.greatertorontoaccessibility.com

    Guru Lukshmi
    Restaurants – Indian Cuisine
    www.gurulukshmi.com

    Hair Transplant Medical Centre | Hair Loss Treatment Mississauga
    Hair Restoration
    www.hair-transplant.ca

    Heartland International English School
    Schools – Languages
    www.heartlandenglish.com

    iTechSkills Academy
    Computer Training
    www.itechskills.ca

    John The Plumber
    Plumbing Contractor
    www.johntheplumber.ca

    JSN Appliances Repair Inc
    Home Appliance Service
    www.jsnappliances.ca

    Little Galaxy Childcare & Montessori
    Daycare
    www.littlegalaxycc.com

    MNP Ltd.
    Licensed Insolvency Trustee
    www.mnpdebt.ca/en/offices/brampton-mount-pleasant

    Mobile Pet S’Paw
    Pet Grooming
    www.mobilepetspaw.ca

    MPR Landscapes
    Landscape Design
    www.mprlandscapes.com

    MyFire Protection Inc.
    Fire & Sprinkler Safety Systems
    www.myfireprotection.ca

    Nails R Us Supply
    Cosmetology Nails & Beauty Supplies
    www.nailsrus.ca

    Perera Law – Real Estate Lawyer
    Real Estate Law
    www.pereralaw.ca

    Powerflow Chiropractic
    Chiropractors
    www.drbhasin.com

    Puppy Academy
    Pet Training
    www.puppyacademy.ca

    Real Blue Roofing Services Inc. Brampton
    Roofing Repair
    www.realblueroofing.ca

    Rejuva Medi Spa
    Medical Spa
    www.rejuvamedispa.com

    Resolution Fitness
    Fitness Equipment Sales and Service
    www.resolutionfitness.ca

    Richards Upholstery
    Upholsterers
    www.richardsupholstery.com

    Ridgeline Services Inc.
    Roofing
    www.ridgelineservices.ca

    S.A. Signs & Wraps in Mississauga
    Signs
    www.sasigns.ca

    Save Tax Solutions
    Accountant – Small Business
    www.savetaxsolutions.com

    The Fang and Flower Tattoo and Piercing Studio
    Tattoo Parlour
    www.thefangandflower.com

    The Notary Guy
    Notary Services
    www.thenotaryguy.ca

    The Place – Elmacan
    Wedding Venues
    www.elmacan.com

    Tire World
    Automobile Tires
    www.tireworldbrampton.com

    Tropical Orthodontics
    Orthodontists
    www.tropicalorthodontics.com

    Vitalize Pilates Studio
    Pilates Studio
    www.vitalizepilatesstudio.com

    Learn more about 2025 Peel Region Consumer Choice Award Winners HERE.

    About Consumer Choice Award:

    Consumer Choice Award has been recognizing and promoting business excellence in North America since 1987. Its rigorous selection process ensures that only the most outstanding service providers in each category earn this prestigious recognition. Visit www.ccaward.com to learn more.

    Contact Information:

    Sumi Saleh
    Communications Manager
    ssaleh@ccaward.com

    SOURCE: Consumer Choice Award

    View the original press release on ACCESS Newswire

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  • DealFlow Events Launches the DealFlow Discovery Conference – A Rebrand of the Microcap Conference

    DealFlow Events Launches the DealFlow Discovery Conference – A Rebrand of the Microcap Conference

    What’s New for 2026?

    ATLANTIC CITY, NJ / ACCESS Newswire / August 6, 2025 / DealFlow Events today announced the launch of the DealFlow Discovery Conference, an expanded version of its flagship event formerly known as The Microcap Conference. Set to take place at the Borgata Hotel & Casino in Atlantic City, January 28-29, 2026, the newly branded conference reflects a broader focus on capital formation – now welcoming both public and private high-growth companies to connect with investors, strategic partners, and capital markets professionals.

    While the name has changed, the mission remains the same: to connect emerging companies with institutional and retail investors in an investment-focused environment. The 2026 event will be the largest yet, offering unlimited one-on-one meetings, expert-led discussions, and unmatched networking.

    “The DealFlow Discovery Conference is where high-growth companies come to be discovered,” said Steven Dresner, Founder of DealFlow Events. “This evolution of the Microcap Conference was driven by what investors want – more access to pre-IPO and late-stage private companies.”

    What’s New for 2026

    This conference opens the door to a wider range of investment opportunities, expanding beyond public microcap companies to feature:

    • Venture-Backed Companies – early-stage innovators raising capital and seeking strategic relationships

    • Private Equity-Backed (Pre-IPO) Companies – growth-stage businesses preparing for the public markets

    • Public Companies – U.S.-listed issuers focused on investor engagement and capital raising

    • Foreign Companies – international firms seeking U.S.-based capital and exposure

    This expansion responds to a growing trend: institutional interest in private market opportunities. By including private and pre-IPO companies, the DealFlow Discovery Conference is now even more valuable for investors – and for companies looking to raise capital.

    Attendees can still expect the high standards, streamlined format, and energy that have defined the event since its inception. For those who’ve attended in the past, it’s a bigger, broader version of the conference they already trust. For new participants – especially private companies – it’s a chance to connect directly with serious investors in a format built for fundraising.

    For more information and to apply to attend or present, visit www.DealFlowDiscoveryConference.com.

    Media Contact:

    Phillip LoFaso
    phillip@dealflowevents.com
    (516) 876-8006

    SOURCE: DealFlow Events

    View the original press release on ACCESS Newswire

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  • BluWave-ai Accelerates Global Energy Transition and Data Leadership with Expanded Patent Portfolio to 43 Filings and 11 Granted

    BluWave-ai Accelerates Global Energy Transition and Data Leadership with Expanded Patent Portfolio to 43 Filings and 11 Granted

    Expands AI-ready Atlas Data Vault to >20B Global Electricity, Transport and Weather Records

    OTTAWA, ON / ACCESS Newswire / August 6, 2025 / BluWave-ai announced significant milestones in the company’s intellectual property and data capabilities. The Ottawa-based company is a leading provider of artificial intelligence (AI) software for renewable energy and transport electrification at the forefront of the global energy transition. BluWave-ai has expanded its patent portfolio to 11 patents granted and 43 patent applications filed in various countries, alongside growing the proprietary BluWave-ai Atlas data platform to over 20 billion AI pre-processed records.

    These achievements underscore the company’s innovation in developing the software systems critical for the future of renewable energy and electric transport. The expanded patent portfolio protects the company’s cutting-edge technologies using AI to optimize energy grids, manage electric vehicle (EV) charging, and enhance energy storage. This patent portfolio serves as a foundational strategy to manage the fluctuating grid-level electricity load and renewable generation with batteries and EVs, a capability that will be increasingly required by system operators globally as EV and renewable deployment continues around the world.

    As of the end of 2024, the global EV fleet had reached almost 58 million vehicles, a number projected to surpass 250 million vehicles by 2030 (Source: Neklar, July 2025). This growth will be complemented by significant expansion in renewable energy infrastructure, with global wind power capacity projected to reach around 2,100 GW by 2030 (Source: Ember, August 2024, citing IEA, BNEF, and GWEC forecasts) and solar power capacity expected to exceed 7,000 GW by 2030 (Source: SolarPower Europe, May 2025).

    The massive scale of the BluWave-ai Atlas data platform complements the company’s innovative technologies by providing an unparalleled foundation for training and deploying highly accurate AI models. This powerful combination of cutting-edge AI and a robust data infrastructure ensures the solutions from BluWave-ai are not only groundbreaking, but also highly effective and scalable, enabling superior performance and faster deployment, delivering significant value to clients from day one worldwide.

    “Our continued growth in both patent protection and data scale reflects our unwavering commitment to empowering the global energy transition,” said Devashish Paul, CEO of BluWave-ai. “By securing our innovations and building an immense, AI-ready data foundation, we are accelerating the development and deployment of solutions that make renewable energy more reliable and electric transportation more efficient. This positions us as the foundational tech provider to the electricity and electrified transport industry for managing energy in real time.”

    “BluWave-ai’s innovative technologies are empowering the global evolution of traditional electrical grids toward more sustainable, efficient, and resilient software-defined smart grids in the face of growing energy demands and climate changes,” said Thomas Triplet, VP of Technology at BluWave-ai, “Our portfolio covers foundational inventions of AI driven systems management for our utility and transport customers.”

    Adding to this sentiment, Mike McLean, CEO of Innovation Asset Collective, stated, “At IAC, we know that when innovators own their ideas, they unlock real growth. This equips Canadian businesses with the funding, tools, and knowledge to prioritize IP ownership, and compete on the global stage.”

    “BLG is proud to work with this exciting, dynamic Canadian success story, assisting BluWave-ai to build a robust and diverse IP portfolio, to mine and protect their multiple innovations, to increase their shareholder value, and to open up new opportunities nationally and overseas,” said Jeff Coghlan, lawyer and partner at the Canadian law firm BLG, “BluWave’s strong and growing patent portfolio is a validation of its cutting-edge technology. We look forward to expanding our collaboration with BluWave-ai, as the company ushers in a new era of energy transition and transportation electrification.”

    The patent portfolio is embedded in the advanced AI-powered software platform of BluWave-ai which is designed to address key real time challenges in the electricity sector, supporting its product initiatives in:

    • Smart Grid Optimization: This AI platform revolutionizes energy grid management, allowing utilities, independent power producers, and system operators to optimize renewable energy assets, predict energy demand, and make data-driven decisions in real-time. This leads to reduced operational costs, lower carbon footprints, and enhanced grid stability.

    • EV Everywhere: Empowers EV drivers with intelligent control over their charging, optimizing energy consumption for cost savings and reduced carbon emissions. It intelligently shifts charging to align with lower electricity rates and cleaner energy sources, while also supporting grid stability through demand response capabilities.

    • EV Fleet Orchestrator: Designed for electrifying fleet operations, this product intelligently manages EV fleet charging and dispatch. By integrating factors like energy price, peak demand constraints, and local generation from solar and battery energy storage and vehicle schedules, it optimizes energy use across mixed fleets, significantly reducing operating costs and emissions.

    • Energy Storage Autopilot: This AI-driven platform provides automated, real-time optimization for battery energy storage systems (BESS). It is grid-aware, enabling BESS to participate effectively in energy markets, manage peak demands, and seamlessly integrate fluctuating renewable energy sources, maximizing the value and lifespan of energy storage assets.

    With a growing global footprint globally deployed in Japan, the Middle East, India, Europe, and throughout North America, BluWave-ai is poised to continue its leadership in building the intelligent software foundation essential for a sustainable, electrified future.

    Customers can access the company’s extensive patent portfolio and the BluWave-ai Atlas data platform through product purchases, or directly via an IP usage license for specific applications.

    Additionally, customers may acquire direct licenses to use the BluWave-ai Atlas data platform via a SaaS subscription model.

    Contact:

    Brandon Paul
    Senior Corporate Marketing Manager
    Email: info@bluwave-ai.com

    SOURCE: BluWave-ai

    View the original press release on ACCESS Newswire

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