Dafinchi AI

Agios Pharmaceuticals, Inc.

AGIO

Healthcare

2w

Financial Performance Summary

Agios ended Q2 with approximately $1.3 billion in cash, cash equivalents, and marketable securities.
Cost of sales for the quarter was $1.7 million.
In Q2 2025, Agios reported net revenue of $12.5 million, a 45% increase compared to $8.6 million in Q2 2024 and a 44% increase compared to Q1 2025.
R&D expenses were $91.9 million, up $14.5 million from Q2 2024, primarily due to a $10 million milestone payment to Alnylam related to AG-236 development.
SG&A expenses were $45.9 million, an increase of $10.4 million year-over-year, driven by investments ahead of the potential PYRUKYND thalassemia launch.
The company expects modest full-year 2025 net revenue growth compared to 2024, with quarter-on-quarter variability due to ordering patterns and a sales force transition to thalassemia.

Adaptive Biotechnologies Corporation

ADPT

Healthcare

1w

Financial Performance Summary

Cash burn for the quarter was approximately $11 million, a 36% improvement over the same period last year, ending with a cash position of $222 million.
ClonoSEQ test volumes increased 37% year-over-year to 25,321 tests delivered.
MRD business achieved positive adjusted EBITDA of $1.9 million, a significant improvement from a $11.3 million deficit a year ago.
MRD business revenue grew 42% year-over-year to $49.9 million, with clinical and pharma contributions of 65% and 35%, respectively.
Net loss for the quarter was $25.6 million.
Sequencing gross margin improved by 14 percentage points year-over-year to 64%.
Total company adjusted EBITDA loss improved to $7.2 million from a $21.4 million loss in the prior year.
Total revenue for Q2 2025 was $58.9 million, a 36% increase year-over-year.

Encompass Health Corporation

EHC

Healthcare

1w

Financial Performance Summary

Adjusted EBITDA rose 17.2% to $308.6 million, reflecting operational efficiencies and favorable payer mix.
Adjusted free cash flow increased 30.5% to approximately $186 million in Q2, with year-to-date free cash flow up 31.7% to $408 million.
Bad debt expense decreased by 90 basis points to 2%, benefiting net revenue per discharge.
Benefit expense per FTE increased 18%, driven by higher frequency of high-dollar medical claims.
Net leverage at quarter end was 2x, with $100 million in unrestricted cash and over $950 million available on revolving credit.
Net preopening and ramp-up costs were $4 million in Q2, with full-year expected costs between $18 million and $22 million.
Quarterly dividend increased to $0.19 per share, payable in October.
Revenue for Q2 2025 increased 12% to $1.46 billion, driven by 7.2% discharge growth and a 4.2% increase in net revenue per discharge.
Salaries and wages per FTE increased 3.4%, while contract labor and sign-on bonuses declined by 15.1%.
Share repurchases totaled approximately 232,000 shares for $24.7 million in Q2.

NTRA

Healthcare

1w

Financial Performance Summary

Cash from operations increased by approximately $47 million in the first half of 2025, with a clean balance sheet and strong cash conversion dynamics.
Gross margin improved to 63.4% in Q2 2025 compared to approximately 59% in Q2 2024, with steady sequential margins excluding true-ups despite increased exome volumes.
Natera reported $547 million in revenue for Q2 2025, representing 32% growth year-over-year and 34% growth excluding revenue true-ups.
Non-cash stock-based compensation and legal accruals of about $30 million impacted EPS, with adjusted EPS loss estimated at $0.53 versus reported $0.74.
Operating expenses are expected to remain flat for 2025 despite increased investments, reflecting scale in the business.