Dafinchi AI

Privia Health Group, Inc.

PRVA

Healthcare

1w

Financial Performance Summary

For the first half of 2025, Practice Collections grew 15.7% to $1.66 billion, Care Margin increased 13.2%, and Adjusted EBITDA grew 33.3% to $55.9 million.
Implemented Providers grew 13.8% year-over-year to 5,125, and value-based lives attribution increased 15.2%.
Medicaid attributed lives grew over 31% year-over-year, with no downside risk taken on these contracts, focusing on upside shared savings.
Privia Health reported strong financial results for Q2 2025, with Practice Collections increasing 18.5% year-over-year to $862.9 million and Adjusted EBITDA rising 31.6% to $29 million, representing 25.2% of Care Margin, a 310 basis point improvement.
The company ended Q2 with over $390 million in cash and no debt, after deploying $95 million for the IMS acquisition in Arizona.

Haemonetics Corporation

HAE

Healthcare

1w

Financial Performance Summary

Adjusted EPS grew 8% to $1.10 driven by strong base business growth, margin expansion, and share buybacks.
Adjusted gross margin expanded 550 basis points year-over-year to 60.8%, aided by Persona technology, price initiatives, product mix, and a one-time 210 basis point benefit from a plasma software license fee.
Adjusted operating income increased 9% to $78 million or 24.1% of revenue, up 300 basis points year-over-year.
Haemonetics reported Q1 fiscal 2026 revenue of $321 million, down 4% reported due to $52 million portfolio transitions but up 13% organically excluding CSL.
Net leverage was 2.53x EBITDA with $293 million cash on hand and strong liquidity including a $750 million revolving credit facility.
Operating cash flow was $17 million and free cash flow was $2.5 million, a significant improvement from a $17 million outflow last year.

Schrödinger, Inc.

SDGR

Healthcare

1w

Financial Performance Summary

Cash and equivalents stood at $462 million as of June 30, 2025.
Drug discovery revenue increased 19% year-over-year to $14.2 million, reflecting recognition of a $150 million upfront payment from the Novartis collaboration.
Net loss narrowed to $43 million ($0.59 per share) from $54 million ($0.74 per share) in Q2 2024.
R&D expenses decreased over 15% to $43.1 million, driven by expense shifts and cost reduction initiatives.
Sales and marketing expenses increased 11% to $10.7 million, while G&A expenses rose 7% to $25.2 million.
Software gross margin declined to 68% from 80% in Q2 2024 due to revenue mix changes and investments in the predictive toxicology initiative.
Software revenue grew 15% year-over-year to $40.5 million, driven by hosted contracts and Gates Foundation grant contributions.
Total operating expenses decreased 6% to $79 million compared to Q2 2024.
Total revenue for Q2 2025 was $54.8 million, a 16% increase year-over-year.

Guardant Health, Inc.

GH

Healthcare

2w

Financial Performance Summary

Adjusted EBITDA loss improved by $10 million to a loss of $51.9 million in Q2 2025.
Biopharma business delivered record revenue of $56 million, up 28% year-over-year.
Cash, cash equivalents and restricted cash totaled approximately $735 million at quarter end.
Free cash flow burn reduced to $65.9 million from $99.1 million in the prior year period.
Guardant360 Liquid volume growth accelerated for the fourth consecutive quarter, exceeding 20% growth in Q2.
Guardant360 Tissue ASP reached approximately $2,000 in Q2, achieving the 2028 target three years early.
Non-GAAP gross profit increased 44% year-over-year to $153.8 million with a gross margin of 66%, up from 60% in Q2 2024.
Non-GAAP operating expenses increased 20% to $215.3 million, with sales and marketing expenses up 45% due to screening commercial build-out.
Oncology revenue increased 22% to $159 million with oncology volumes up 30% year-over-year to approximately 64,000 tests.
Q2 revenue grew 31% year-over-year to $232 million with strong performance across oncology, screening, biopharma and data businesses.
Shield testing revenue was $14.8 million in Q2 from approximately 16,000 tests with non-GAAP gross margin improving to 48%.

Repligen Corporation

RGEN

Healthcare

3w

Financial Performance Summary

Acquisitions and foreign currency each contributed approximately 2 points to reported growth.
Adjusted EBITDA margin was 17.6%, flat year-over-year; adjusted net income was $21 million, down $1 million year-over-year.
Adjusted fully diluted EPS was $0.37, down 6% year-over-year, impacted by last year's high-margin COVID business.
Adjusted income from operations was $22 million, up 8% year-over-year, with adjusted operating margin at 12%, down 80 basis points due to COVID and mix headwinds.
Cash position at quarter end was $709 million, up $12 million sequentially, driven by cash flow from operations.
Geographically, North America represented 49% of revenue, Europe 38%, and Asia Pacific and rest of world 13%, with all regions growing mid-teens.
Gross margin was 51.1%, flat year-over-year, with a 3-point mix headwind due to higher resin procurement for OPUS columns.
Repligen reported Q2 2025 revenue of $182 million, a 15% reported increase, 11% organic growth, and 17% organic non-COVID growth.

HealthStream, Inc.

HSTM

Healthcare

2w

Financial Performance Summary

Adjusted EBITDA grew 11.3% to $17.6 million with a margin improvement to 23.7% from 22.1% last year.
Gross margin declined to 64.6% from 66.8% due to increased cloud hosting costs and higher royalty expenses.
HealthStream reported record quarterly revenue of $74.4 million, up 4% year-over-year.
Legacy product declines offset some growth, with a $1.8 million decrease in legacy credentialing and scheduling products.
Operating expenses excluding cost of revenues declined by 2.9%, with notable decreases in general and administrative expenses.
Operating income increased by 33.4% to $5.9 million, and net income rose 29.3% to $5.4 million.
Remaining performance obligations increased to $618 million from $538 million last year, with 39% expected to convert to revenue in the next 12 months.
Subscription revenues increased by 4.2%, driven by strong growth in CredentialStream (26%), ShiftWizard (21%), and Competency Suite (18%).

Universal Health Services, Inc.

UHS

Healthcare

2w

Financial Performance Summary

Acquired 1.9 million shares at a cost of approximately $332 million in the first half of 2025, repurchasing about 34% of outstanding shares since 2019.
Available borrowing capacity was approximately $1 billion under a $1.3 billion revolving credit facility as of June 30, 2025.
Behavioral health hospitals' same-facility net revenues increased 5.4% excluding Tennessee Medicaid directed payment program, driven by 4.2% revenue per adjusted day increase and 1.2% adjusted patient days growth.
Capital expenditures were $505 million in the first half of 2025, with 25% related to two new/replacement facilities opening in spring 2026.
Cash generated from operating activities decreased by $167 million to $909 million in the first half of 2025 compared to the same period in 2024.
Net income attributable to UHS per diluted share was $5.43 for Q2 2025, with adjusted net income per diluted share at $5.35 after adjustments.
Operating expenses on a same-facility basis increased 3.1% excluding insurance subsidiary impact.
Same-facility adjusted admissions to acute care hospitals increased 2.0% year-over-year, while surgical volumes declined slightly.
Same-facility EBITDA in acute care hospitals increased by 10% due to solid revenues and expense controls.
Same-facility net revenues in acute care hospitals increased 5.7% excluding insurance subsidiary impact.

Incyte Corporation

INCY

Healthcare

3w

Financial Performance Summary

In Q2 2025, Incyte delivered total product revenues of $1.06 billion, a 17% year-over-year increase driven by Jakafi, Opzelura, and Niktimvo.
Jakafi net product revenue was $764 million, up 8% year-over-year, with strong demand across all indications.
Niktimvo net product revenues were $36 million, reflecting strong commercial execution and rapid adoption.
Operating expenses grew 13% year-over-year, slower than the 16% revenue growth, improving operating leverage and margins.
Operating expenses included a $242 million benefit from a contract dispute settlement with Novartis, reducing COGS guidance to 8%-9% of net product revenues.
Opzelura net product revenue was $164 million, a 35% increase year-over-year, with $132 million from the U.S. and $32 million ex-U.S.
Other hematology/oncology products generated $131 million, a 66% increase year-over-year, driven by Niktimvo and Zynyz.
R&D expenses increased 8% year-over-year to $495 million, driven by late-stage development investments and new collaborations.
SG&A expenses increased 16% year-over-year to $331 million, mainly due to legal costs and marketing timing.
Total revenues were $1.22 billion, up 16% year-over-year.

MXCT

Healthcare

1w

Financial Performance Summary

Cash, equivalents, and investments totaled $165.2 million with no debt at quarter-end.
Core revenue grew 8% year-over-year to $8.2 million, driven by a 22% increase in instrument revenue to $2.1 million, flat license revenue at $2.6 million, and a 5% increase in processing assembly (PA) revenue to $3.1 million.
Gross margin was 82% in Q2 2025 compared to 86% in Q2 2024; non-GAAP adjusted gross margin was 83% versus 82% last year.
Operating expenses were $21.2 million, slightly higher than $20.9 million in Q2 2024, but decreased modestly year-to-date despite absorbing SeQure Dx costs.
Total revenue for Q2 2025 was $8.5 million, down 18% from $10.4 million in Q2 2024, primarily due to lower SPL program-related revenue.

Mersana Therapeutics, Inc.

MRSN

Healthcare

6d

Financial Performance Summary

Collaboration revenue increased to $3.1 million from $2.3 million year-over-year, driven by J&J and Merck KGaA agreements.
Ended Q2 2025 with $77 million in cash and cash equivalents.
General and administrative expenses declined to $7.4 million from $10.5 million, due to lower headcount and reduced consulting fees.
Incurred $3.9 million in restructuring charges related to severance and related expenses.
Net cash used in operating activities was $22.6 million, including $2.4 million in severance payments.
Net loss remained flat at $24.3 million compared to Q2 2024.
Paid off $17.9 million debt facility in July 2025.
R&D expenses decreased to $16.2 million from $17.2 million, reflecting lower headcount but increased clinical and manufacturing costs.