Dafinchi AI

Tandem Diabetes Care, Inc.

TNDM

Healthcare

1w

Financial Performance Summary

Gross margin expanded to 52% in Q2, up year-over-year and sequentially, driven primarily by pricing and partially offset by product mix and non-manufacturing costs.
International sales performance exceeded expectations despite a $10 million headwind from distributor inventory adjustments ahead of a 2026 direct sales transition.
Operating expenses grew 10% year-over-year due to SG&A investments, while R&D expenses remained flat.
Tandem Diabetes Care achieved record second quarter 2025 sales of $241 million worldwide, with $170 million in the U.S. and $70 million internationally.
The company ended Q2 with $315 million in cash and investments, having settled $41 million in convertible notes and paid $8 million towards a $36 million patent settlement.
Year-to-date worldwide sales reached $475 million, representing 15% growth driven by pump and supply volumes and a 4% pricing improvement year-over-year.

CDNA

Healthcare

1w

Financial Performance Summary

Adjusted EBITDA improved to $9.1 million from a loss of $0.3 million in Q2 2024.
Adjusted revenue for Q2 2025 was $90.5 million, up 14% year-over-year excluding prior period test revenue adjustments.
Cash from operations was $10 million, ending the quarter with $186 million in cash and no debt after a $50 million share repurchase.
Non-GAAP gross margin improved by 340 basis points to 70.4%, with Testing Services margin at 77.6%, Patient & Digital Solutions at 39.5%, and Lab Products at 63.9%.
Operating expenses increased 3% year-over-year to $56.7 million, well below revenue growth, reflecting operational leverage.
Patient & Digital Solutions revenue grew 19% to $12.8 million, and Lab Products revenue increased 12% to $11.8 million.
Reported revenue was $86.7 million, including a $3.8 million write-off related to prior period tests, down 6% year-over-year.
Testing Services revenue was $66 million adjusted, up 14% year-over-year with approximately 49,500 tests delivered, marking the eighth consecutive quarter of volume growth.

Arcturus Therapeutics Holdings Inc.

ARCT

Healthcare

1w

Financial Performance Summary

Cash, cash equivalents, and restricted cash totaled $253.4 million as of June 30, 2025, with a cash runway extended into 2028.
General and administrative expenses decreased to $10.3 million in Q2 2025 from $12.3 million in Q2 2024, due to reduced share-based compensation and headcount.
Net loss for Q2 2025 was approximately $9.2 million or $0.34 per diluted share, improved from a net loss of $17.2 million or $0.64 per diluted share in Q2 2024.
Research and development expenses decreased to $29.6 million in Q2 2025 from $58.7 million in Q2 2024, reflecting lower manufacturing and clinical costs for COVID, flu, and OTC programs, partially offset by higher clinical costs for cystic fibrosis.
Revenue for Q2 2025 was $28 million, down $22 million year-over-year, primarily due to lower revenues from the CSL collaboration and amortization of upfront payments as CoStave progresses toward commercialization.
Total operating expenses for Q2 2025 were $40 million, down from $71 million in Q2 2024, driven by reduced manufacturing costs, clinical trial expenses, payroll, and employee benefits.

Senseonics Holdings, Inc.

SENS

Healthcare

1w

Financial Performance Summary

Cash and equivalents totaled $126.7 million with debt and accrued interest at $35.3 million as of June 30, 2025.
Gross profit increased by $2.8 million to $3.1 million, aided by improved margins on the 365-day product and a one-time VAT recovery of $0.7 million.
Net loss improved to $14.5 million or $0.02 per share from $20.3 million or $0.03 per share in the prior year period.
Net revenue grew 37% to $6.6 million in Q2 2025 compared to $4.9 million in Q2 2024, driven by new Eversense 365 insertions.
Research and development expenses decreased by $3.1 million to $7.7 million due to completion of clinical trials.
Selling, general and administrative expenses increased slightly to $9.7 million, mainly due to sales commissions related to the consignment program.
U.S. revenue was $4.9 million and international revenue was $1.7 million in the quarter.

Kymera Therapeutics, Inc.

KYMR

Healthcare

1w

Financial Performance Summary

Adjusted operating expenses were slightly down from the prior quarter.
Cash balance was $963 million at the end of June, increasing to approximately $1 billion by end of July after follow-on offering proceeds and Gilead upfront payment.
Cash runway extended into the second half of 2028.
G&A expenses were $17.6 million, with $7.4 million non-cash stock-based compensation; adjusted cash G&A increased 6% sequentially.
Kymera reported Q2 2025 revenue of $11.5 million, all from the Sanofi collaboration.
R&D expenses were $78.4 million, including $8 million of non-cash stock-based compensation, reflecting a 3% decrease in adjusted cash R&D spend from Q1 2025.

Oscar Health, Inc.

OSCR

Healthcare

1w

Financial Performance Summary

Capital position remains strong with $5.4 billion in cash and investments and $579 million in excess capital at insurance subsidiaries.
Loss from operations was $230 million in Q2, a $298 million decrease year-over-year; adjusted EBITDA loss was $199 million, a $304 million decrease year-over-year.
Membership grew 28% year-over-year to over 2 million members, supported by strong retention and SEP additions.
Oscar Health reported Q2 2025 total revenue of $2.9 billion, a 29% year-over-year increase driven by higher membership.
SG&A expense ratio improved by 90 basis points year-over-year to 18.7%, driven by lower exchange fee rates and fixed cost leverage.
The medical loss ratio (MLR) increased 12 points year-over-year to 91.1%, impacted by a $316 million increase in risk adjustment payable due to higher market morbidity.

Allogene Therapeutics, Inc.

ALLO

Healthcare

5d

Financial Performance Summary

2025 cash burn is expected to be approximately $150 million with full-year GAAP operating expenses around $230 million.
Cash, cash equivalents, and investments totaled $302.6 million as of June 30, 2025.
Cash runway extends into the second half of 2027, supporting ongoing operations and clinical trials.
Financial guidance excludes any impact from potential business development activities.
G&A expenses for Q2 2025 were $14.3 million, including $6.1 million in noncash stock-based compensation.
Net loss for Q2 2025 was $50.9 million or $0.23 per share, including $8.7 million noncash stock-based compensation and $2.4 million impairment charges.
R&D expenses for Q2 2025 were $40.2 million, including $2.6 million in noncash stock-based compensation.

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.

BioMarin Pharmaceutical Inc.

BMRN

Healthcare

2w

Financial Performance Summary

BioMarin achieved double-digit year-over-year revenue growth with total revenues growing 16% in Q2 2025 and 15% in the first half of 2025 compared to 2024.
Enzyme Therapies revenue rose 15% year-over-year to $555 million, with PALYNZIQ and VIMIZIM showing strong growth of 20% and 21% respectively.
Non-GAAP diluted EPS was $1.44 in Q2, increasing more than 3x the rate of revenue growth, with full year guidance raised to $4.40-$4.55.
Non-GAAP operating margin expanded significantly in Q2 and full year 2025 guidance for operating margin was raised to 33%-34%.
Non-GAAP R&D expenses decreased compared to Q2 2024 due to focused investment in prioritized assets.
Non-GAAP SG&A expenses increased due to ERP system implementation and strategic initiatives.
Operating cash flow reached $185 million in Q2, a 55% increase versus Q2 2024.
ROCTAVIAN revenue was $9 million in Q2, led by the U.S. and Italy.
VOXZOGO revenue increased 20% year-over-year to $221 million in Q2, driven by global expansion and new patient starts.

Cigna Corporation

CI

Healthcare

2w

Financial Performance Summary

Cigna Healthcare revenues were $10.8 billion with pretax adjusted earnings of $1.1 billion and a medical care ratio of 83.2%, broadly in line with expectations despite elevated medical costs.
Evernorth contributed over 60% of enterprise earnings with revenues of $57.8 billion and pretax adjusted earnings of $1.7 billion, slightly ahead of expectations.
In Q2 2025, The Cigna Group reported total revenue of $67.2 billion and adjusted earnings per share of $7.20.
Operating cash flow was impacted by working capital timing within Evernorth but expected to reverse in the second half of the year.
Pharmacy Benefit Services pretax adjusted earnings increased to $833 million driven by client retention and innovative product offerings.
Specialty and Care Services revenue grew 13% to $25.9 billion with pretax adjusted earnings increasing 12% year-over-year when normalized for the absence of the VillageMD dividend.
Stop-loss premiums grew 13% in Q2 with ongoing efforts to improve margin profile over the next two renewal cycles.
The individual exchange business experienced higher utilization and medical costs but remained manageable due to strategic repositioning and disciplined pricing.

Bristol-Myers Squibb Company

BMY

Healthcare

2w

Financial Performance Summary

Breyanzi revenues were $344 million, growing 122% globally, with U.S. sales more than doubling to $255 million.
Camzyos global sales were $260 million, growing 86%, driven by new patient starts and inventory build.
Cash, cash equivalents, and marketable securities totaled roughly $13.9 billion as of June 30.
Cash flow from operations was about $3.9 billion in the second quarter.
Cobenfy sales were $35 million in the quarter and $62 million year-to-date, tracking as expected with steady weekly prescription growth.
Diluted earnings per share was $1.46, including a $1.5 billion or $0.57 per share charge related to the BioNTech partnership.
Eliquis global sales were $3.7 billion, growing 6%, with U.S. sales up 4% and ex-U.S. sales up 12%.
Gross margin was approximately 73%, primarily due to product mix.
Growth portfolio sales increased approximately 17% year-over-year, driven primarily by demand for the IO portfolio, Breyanzi, Reblozyl, and Camzyos.
Opdivo global sales were approximately $2.6 billion, up 7%, with strong U.S. launch in MSI-high colorectal cancer and growth in first-line non-small cell lung cancer.
Operating expenses were approximately $260 million lower than the prior year, reflecting strategic productivity initiatives.
Qvantig sales were approximately $30 million, with a successful U.S. launch and permanent J-Code received on July 1.
Reblozyl global sales were $568 million in the quarter, with 30% growth in the U.S. and 46% growth outside the U.S.
Sotyktu sales grew 29% globally, with 5% growth in the U.S. despite higher rebates.
The company is on track to pay down $10 billion of debt by the first half of 2026.
Total company revenues were approximately $12.3 billion in Q2 2025, reflecting strong demand across the business.