Krafton Extends ‘Subnautica 2' Bonus Period, Is Sued by Founders
About 40 employees at Unknown Worlds were eligible to share a $25 million bonus, contingent upon the studio hitting certain revenue targets by the end of 2025, with a possible short-term extension. When Krafton said earlier this month that it planned to push back the game's release, employees feared that it wouldn't be possible to hit those targets and that their potential earnings would disappear.
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Yahoo
8 minutes ago
- Yahoo
Hexagon Purus ASA: Results for the second quarter 2025
Key developments in Q2 2025 and after balance sheet date: • Quarterly revenue of NOK 193 million in the second quarter of 2025, 63% lower compared to same quarter last year;• EBITDA of NOK -161 million in the second quarter of 2025, compared to NOK -97 million in the same period last year;• Signed new supply agreement with Hino Trucks for supply of class 6 & 7 battery electric trucks to the U.S. market and initiated process to explore options for the BVI segment;• Exited the quarter with order backlog consisting of firm purchase orders of close to NOK 1.1 billion. 'We have had a tough second quarter with revenue ending at NOK 193 million, which is down 63% year-over-year due to significantly lower activity in hydrogen infrastructure and hydrogen heavy-duty mobility. On the positive side, we had high order intake in the quarter and expect a notable activity increase in the second half of 2025', says Morten Holum, CEO of Hexagon Purus. 'Despite the improved order intake, we continue to adapt our cost base by increasing the annualized cost reduction from NOK 200 million to up to NOK 350 million to enable profitability at lower volumes. The anticipated revenue increase, lower capex and working capital release we expect will meaningfully reduce cash outflow in the second half of 2025. With the additional cost cuts in combination with the ongoing portfolio review, we retain the aim to make our current cash balance last until the Company reaches EBITDA and cash break even'. Hexagon Purus Q2 2025 consolidated financials In the second quarter of 2025, Hexagon Purus ('the Company' or 'the Group') generated revenue of NOK 193 million, down 63% compared to the corresponding period in 2024. The main reason for the revenue decline was significantly lower activity in the hydrogen infrastructure and hydrogen heavy-duty mobility application areas, partly offset by higher revenue from aerospace applications and battery electric mobility. Total operating expenses in the second quarter of 2025 ended at NOK 355 (625) million, leading to an operating profit before depreciation (EBITDA) of NOK -161 (-97) million. Total assets at the end of the second quarter of 2025 amounted to NOK 4,266 (4,619) million. Inventory amounted to NOK 714 (611) million as of the end of the second quarter of 2025, and the majority of inventory consists of raw materials and work-in-progress. Trade receivables decreased sequentially by NOK 32 million in the second quarter of 2025 to NOK 244 (401) million. Total equity was NOK 1,418 (1,847) million as per the second quarter of 2025, equal to an equity ratio of 33% (40%). The increase in non-current liabilities to NOK 2,222 (2,021) million is mainly driven by non-cash interest added to the principal of the two outstanding convertible bonds, partly offset by a reduction in lease liabilities to NOK 503 (524) million. Total current liabilities stood at 626 (751) million at the end of the second quarter of 2025, of which trade payables made up NOK 148 (250) million and which was sequentially down compared to the first quarter of 2025. Net cash flow from operating activities in the second quarter of 2025 was NOK -197 (-232) million. Working capital increased by NOK 41 million in the quarter (NOK 120 million in Q2 2024), primarily due to higher inventory levels in preparation for increased activity in the second half of the year and a decline in trade payables. This was only partly offset by a reduction in trade receivables. Net cash flow from investing activities was NOK -62 (-180) million in the second quarter of 2025, of which NOK 37 (133) million relates to investments in production equipment and facilities and is mainly spill-over items from 2024 related to the Company's capacity expansion program. Net cash flow from financing in the second quarter of 2025 was NOK -3 (-5) million. Cash and cash equivalents ended at NOK 527 (543) million as of the second quarter of 2025. Hydrogen Mobility and Infrastructure (HMI)Revenue for the HMI segment in the second quarter of 2025 was NOK 164 million, down 69% compared to the corresponding period last year. The decline in revenue is primarily owed to lower activity within hydrogen infrastructure and heavy-duty hydrogen mobility, which is only partially offset by higher year-over-year revenue from aerospace applications. EBITDA for the HMI segment in the second quarter of 2025 ended at NOK -76 (17) million, equivalent to an EBITDA margin of -47% (3%) as the sharp decline in revenue reduced the segment's ability to absorb its fixed costs combined with a less profitable product mix. Historical segment financials are made available on together with Q2 2025 report and presentation. Battery Systems and Vehicle Integration (BVI)Revenue for the BVI segment in the second quarter of 2025 was NOK 25 (2) million. The year-over-year revenue growth was mainly driven by vehicle deliveries of the Tern RC8 to Hino Trucks as well as deliveries of battery systems to Toyota Motors North America. EBITDA for the BVI segment ended at NOK -31 (-60) million in the second quarter of 2025. Historical segment financials are made available on together with Q2 2025 report and presentation. OutlookCommercial momentum and revenue contribution remain solid within hydrogen transit buses in Europe and aerospace in North America. However, the ramp-up of the BVI business unit remains delayed relative to prior expectations. Revenue from the hydrogen infrastructure segment is significantly down year-over-year, although the current order backlog indicates a notable increase in activity in the second half of 2025, which should improve Group revenue and profitability. The anticipated revenue increase should also support a more favorable working capital development especially towards the end of the year, and capital expenditure is expected to decline as investments from 2024 related to the capacity expansion program near completion. Together, these factors are expected to meaningfully reduce cash outflow over the remainder of the year. The Company remains focused on cost reductions to support profitability at lower volume, while concurrently reviewing its business portfolio. Including the measures announced in this report, the total expected reduction in annualized operating costs from 2026—compared to 2024 levels—is estimated to be up to NOK 350 million, assuming all else is equal, exceeding the NOK 200m cost reduction target announced in February by NOK 150m. Together, the ongoing portfolio review and cost-cutting initiatives are aimed at making the current cash balance last until the Company reaches EBITDA and cash break-even. Presentation of the resultsHexagon Purus will present the Q2 2025 results today, 17 July, at 08:30 CEST and the presentation will be broadcast live via The presentation will be held in English and will be virtual. A recording of the presentation will be made available on For more information: Mathias Meidell, IR Director, Hexagon Purus ASATelephone: +47 909 82 242 | Salman Alam, CFO, Hexagon Purus ASA Telephone: +47 476 12 713 | About Hexagon Purus ASA Hexagon Purus enables zero emission mobility for a cleaner energy future. The company is a world leading provider of hydrogen Type 4 high-pressure cylinders and systems, battery systems and vehicle integration solutions for fuel cell electric and battery electric vehicles. Hexagon Purus' products are used in a variety of applications including light, medium and heavy-duty vehicles, buses, ground storage, distribution, refueling, maritime, rail and aerospace. Learn more at and follow @HexagonPurus on X and LinkedIn. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachments HPUR Q2 2025 Report HPUR Q2 2025 PresentationError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 minutes ago
- Yahoo
Simulations Plus Sees Weaker Demand Persist, Outlook Softens
Simulations Plus Inc. (NASDAQ:SLP) shares declined on Tuesday following the release of its third-quarter 2025 earnings report. The company reported sales of $20.4 million, representing a 10% year-over-year increase, but this fell short of the consensus estimate of $20.9 million. This miss followed preliminary third-quarter sales figures released in June, which were already lower than expectations at $19 million to $20 million, compared to a consensus of $22.78 the revenue miss, Simulations Plus reported adjusted earnings of 45 cents per share, compared to 27 cents a year ago. Revenue breakdown showed a 6% increase in software revenue to $12.6 million and a 17% increase in services revenue to $7.7 million. The company's gross profit stood at $13.0 million, achieving a 64% margin. However, the quarter saw a substantial net loss of $67.3 million, resulting in a loss per share of $3.35. This was primarily due to a non-cash impairment charge of $77.2 million, contrasting sharply with a net income of $3.1 million and diluted EPS of $0.15 in the prior year. Adjusted EBITDA was $7.4 million, representing 37% of total revenue, up from $5.6 million (30% of total revenue) in the same period last year. Looking ahead, Simulations Plus revised its fiscal 2025 adjusted earnings guidance to $0.93 to $1.06, down from the previous guidance of $1.07 to $1.20. View more earnings on SLP Similarly, the company's fiscal 2025 sales forecast was adjusted in June to $76 million to $80 million, a reduction from the prior guidance of $90 million to $93 million and below the consensus of $82.9 million. The anticipated adjusted EBITDA margin for fiscal 2025 also saw a downward revision, now expected to be between 23% and 27%, compared to the earlier guidance of 31% to 33%. In June, Simulations Plus initiated a restructuring of its operations, including workforce reductions and cost-cutting measures, aimed at improving operational efficiency and reducing expenses. William Blair analysts noted that the company's outlook remains unchanged since June. They attribute the ongoing cautious spending by biopharma clients to uncertainties surrounding future funding, drug pricing, and potential tariffs, leading to budget cuts, project cancellations, and work postponements. Analyst Max Smock highlighted, 'While the software business remains somewhat resilient (expectation for 5% to 9% organic segment growth in fiscal 2025), we have begun to see some signs of potential softening as we head into fiscal 2026...' In response to the challenging market, KeyBanc downgraded Simulations Plus from Overweight to Sector Weight. Analyst Scott Schoenhaus commented, 'While we believe these challenges affect SLP more sharply given its customer concentration and biotech exposure, we also thought there would be opportunities with the most recent Proficiency acquisition that gave us hope that organic revenue growth could re-accelerate toward high-single digits next year (FY26) off easier comps.' KeyBanc anticipates continued weak customer demand in the near to mid-term, with no clear signs of a biotech market rebound. This makes predicting a recovery difficult and a higher valuation hard to justify, prompting the firm to significantly cut its estimates and lower its valuation target to account for these risks and uncertainties. Price Action: SLP stock is trading lower by 25% to $13.10 at last check Tuesday. Read Next:Latest Ratings for SLP Date Firm Action From To Oct 2021 Craig-Hallum Upgrades Hold Buy Jul 2021 Raymond James Maintains Outperform Jan 2021 Craig-Hallum Downgrades Buy Hold View More Analyst Ratings for SLP View the Latest Analyst Ratings Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? SIMULATIONS PLUS (SLP): Free Stock Analysis Report This article Simulations Plus Sees Weaker Demand Persist, Outlook Softens originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Associated Press
41 minutes ago
- Associated Press
Astellas Announces a Partnership with the "Korea Institute of Startup and Entrepreneurship Development", an Umbrella Organization of the "Ministry of SMEs and Startups", a Korean Government Agency, for the Operation of the "Partnership with Global Companies Program"
- Supporting Korean Startups' Drug Discovery Research and Global Expansion - - First Pharmaceutical Company from Japan to Actively Support the Operation of the Program - TOKYO, July 17, 2025 /PRNewswire/ -- Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, 'Astellas') today announced that it has agreed on a memorandum of understanding ('MoU') with the Korea Institute of Startup and Entrepreneurship Development (President: Jong-pil Yoo, 'KISED'), an umbrella organization of the Ministry of SMEs and Startups, a Korean Government Agency, for the operation of the Partnership with Global Companies Program, which aims to identify Korean drug-discovery startups and support their business growth and global expansion. Under the terms of the MoU, KISED will provide overall management and research funding for the Partnership with Global Companies Program. Astellas will provide Korean drug-discovery startups, which are selected together, with KISED with access to laboratory and office space at SakuLabTM-Tsukuba, located on the premises of the Astellas Tsukuba Research Center. Startups residing in SakuLabTM-Tsukuba will not only receive support through consultations with Astellas experts in various fields, but will also be able to accelerate their drug discovery research by leveraging networks with fellow residents and Astellas researchers. Through this program, two Korean pharmaceutical and biotech startups—TCUBEiT Inc. (a next-generation T-cell-based immunotherapy developer) and AAVATAR Therapeutics (specializing in AAV viral vector engineering technology)—have been selected. They will begin full-scale collaboration by moving into SakuLab™-Tsukuba. Tadaaki Taniguchi, M.D., Ph.D., Chief Research & Development Officer (CRDO) of Astellas 'We are very pleased to agree on a MoU with KISED for the Operation of the Partnership with Global Companies Program. In today's world, where new drug discovery ideas and technologies are emerging one after another, Diverse perspectives, expertise and experiences are essential to turning innovative ideas and technologies into VALUE for patients. Astellas is committed to fostering innovation in collaboration with startups by providing knowledge and expertise we have gained through our research and global network. We expect that the signing of this MoU will further strengthen and accelerate drug discovery research together with Korean startups, ultimately contributing to the creation of innovative medical solutions.' Jong-pil Yoo, President of KISED 'This agreement will serve as a significant opportunity to accelerate the global expansion of promising Korean startups in the bio and pharmaceutical sectors through strategic collaboration with Astellas, a global pharmaceutical company. In particular, as new drug development requires a high level of expertise and infrastructure, this program—enabling startups to leverage Astellas' research assets and global network directly—is expected to provide substantial support for their growth. KISED will continue to strengthen its partnerships with global corporations to ensure that Korean startups can enhance their competitiveness in the global market.' The impact of this partnership on Astellas' financial results for the fiscal year ending March 31, 2026, is expected to be minor. About Astellas Astellas is a global life sciences company committed to turning innovative science into VALUE for patients. We provide transformative therapies in disease areas that include oncology, ophthalmology, urology, immunology and women's health. Through our research and development programs, we are pioneering new healthcare solutions for diseases with high unmet medical need. Learn more at About Ministry of SMEs and Startups The Ministry of SMEs and Startups is a central government agency in South Korea, dedicated to enhancing the competitiveness and fostering innovation among small and medium-sized enterprises (SMEs) and venture businesses. Initially established in 1996 as the Ministry of SMEs, it was rebranded in 2017 as the Ministry of SMEs and Startups to more accurately reflect its expanded focus and objectives. MSS is committed to developing and implementing policies that support startup growth, promote corporate development, and strengthen the competitiveness of small businesses within the national and global markets. Learn more at About KISED KISED carries out strategic initiatives aimed at advancing the startup ecosystem, enabling tailored and successful startups, securing sustainable future growth engines, and realizing creative and innovative smart management. Learn more at Cautionary Notes (Astellas) In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. These statements are based on management's current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas' intellectual property rights by third parties. Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement or medical advice. View original content to download multimedia: SOURCE Astellas Pharma Inc.
