Latest news for Scrypt (OTC:SYPT) Stock

Scrypt Inc builds productivity tools that assist customers in regulated industries. The company assists in protecting sensitive and business-critical information. It caters mainly to the healthcare industry. The company offers Sfax that enables users to cloud fax without printing a physical document. Its Stak product lets users transform their workflow by storing, exchanging and collaborating on documents in a cloud-based. The XDOC product is an electronic document management platform utilized to simplify the mortgage lending process. Its FaxAgent provides enterprise fax technology for telecommunication carriers and DocbookMD offers secure mobile messaging services.

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BrightView Sees Q3 2024 Free Cash Flow $65M-$80M Vs $55M-$75M Prior

Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) shares are trading lower after the company reported its first-quarter financial results Wednesday. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/07/b40080645/arm-holdings-plc-reports-results-for-the-first-quarter-of-the-financial-year-ended-2025">details from the report.</a> 
The Details: Arm reported quarterly earnings of 40 cents per share, which beat the analyst consensus estimate of 34 cents by 17.65%. Quarterly sales clocked in at $939 million, which beat the analyst consensus estimate of $902.691 million by 4.02% with record license revenue and strong growth in royalty revenue.
The company reported license and other revenue of $472 million, up 72% year-over-year, due to the signing of multiple high-value license agreements. Royalty revenue came in at $467 million, up 17% year-over-year, driven by the rapidly increasing penetration of Armv9-based chips and strong growth in premium smartphones.
Arm said it saw strong non-GAAP operating income growth to $448 million resulting in a 47.7% non-GAAP operating margin.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/07/40076709/whats-going-on-with-sofi-stock-after-earnings">What&#8217;s Going On With SoFi Stock After Earnings?</a> 
&#8220;AI demand and rising CSS adoption across major market segments drove record revenue,&#8221; said Rene Haas, CEO of Arm Holdings. &#8220;As the energy needs of AI continue to escalate, so does the demand for the high-performance, power-efficient Arm compute platform.&#8221;
Outlook: Arm Holdings sees second-quarter revenue in a range of $780 million to $830 million, versus the $804.08 million estimate, and earnings of between 23 cents and 27 cents, versus the 27-cent estimate.
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<iframe loading="lazy" title="&#x1f534;WATCH LIVE: ARM Q1 2024 Earnings Call &#x7C; $ARM" width="500" height="281" src="https://www.youtube.com/embed/DpVCmvwEbw0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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ARM Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Arm Holdings shares are down 9.41% after-hours at $130.60 after gaining more than 8% in regular trading Wednesday. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40022763/lattice-semiconductor-stock-falls-on-worse-than-expected-q2-results">Lattice Semiconductor Stock Falls On Worse-Than-Expected Q2 Results</a></li>
</ul>
Image: Courtesy of Arm Holdings Plc

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Arm Holdings Stock Falls After Q1 Results, Weak Q2 Guidance: Details

Perdoceo Education (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRDO#NASDAQ">PRDO</a>) reported quarterly earnings of $0.60 per share which beat the analyst consensus estimate of $0.58 by 3.45 percent. The company reported quarterly sales of $166.740 million which beat the analyst consensus estimate of $160.911 million by 3.62 percent. This is a 10.63 percent decrease over sales of $186.564 million the same period last year.

Earnings Beats

PRDO

Perdoceo Education Q2 2024 Adj. EPS $0.60 Beats $0.58 Estimate, Sales $166.740M Beat $160.911M Estimate

BrightView Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BV#NYSE">BV</a>) reported quarterly earnings of $0.32 per share which met the analyst consensus estimate. The company reported quarterly sales of $738.80 million which missed the analyst consensus estimate of $741.00 million by 0.30 percent. This is a 3.55 percent decrease over sales of $766.00 million the same period last year.

Earnings Misses

BrightView Hldgs Q3 2024 Adj. EPS $0.32, Inline, Sales $738.80M Miss $741.00M Estimate

Kyndryl Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KD#NYSE">KD</a>) reported quarterly earnings of $0.05 per share which missed the analyst consensus estimate of $0.10 by 50 percent. The company reported quarterly sales of $3.740 billion which missed the analyst consensus estimate of $3.790 billion by 1.32 percent. This is a 10.80 percent decrease over sales of $4.193 billion the same period last year.

Kyndryl Hldgs Q1 2025 GAAP EPS $0.05 Misses $0.10 Estimate, Sales $3.740B Miss $3.790B Estimate

FINANCIAL GUIDANCE
<ul>
<li>Based upon the Company's current operating plan, Sage anticipates that its existing cash, cash equivalents and marketable securities, anticipated funding from ongoing collaborations, and estimated revenues, will support its operations into 2026.​</li>
<li>The Company does not anticipate receipt of any milestone payments from collaborations in the remainder of 2024.</li>
<li>The Company anticipates operating expenses will decrease in 2024 relative to 2023.​
<ul>
<li>With the availability of ZURZUVAE as an additional treatment for women with PPD, the Company anticipates ZULRESSO revenues will continue to decrease over time.</li>
</ul>
</li>
</ul>

SAGE

Sage Anticipates That Its Existing Cash, Cash Equivalents And Marketable Securities, Anticipated Funding From Ongoing Collaborations, And Estimated Revenues, Will Support Its Operations Into 2026

Cheesecake Factory (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAKE#NASDAQ">CAKE</a>) reported quarterly earnings of $1.09 per share which beat the analyst consensus estimate of $1.00 by 9 percent. The company reported quarterly sales of $904.000 million which missed the analyst consensus estimate of $908.662 million by 0.51 percent. This is a 4.37 percent increase over sales of $866.170 million the same period last year.

CAKE

Cheesecake Factory Q2 2024 Adj. EPS $1.09 Beats $1.00 Estimate, Sales $904.000M Miss $908.662M Estimate

Regal Rexnord Updates 2024 Guidance: Lowers GAAP Diluted EPS to $3.70-$4.10 From $3.97-$4.77, Adjusted Diluted EPS to $9.40-$9.80 From $9.60-$10.40 Due to Softer Automation & Motion Control Segment and Higher Interest Costs

GFL Environmental  Q2 2024 EPS CAD$(1.31)

TENB

Tenable Sees Q3 2024 Revenue $222M-$224M Vs $218M Estimate; Sees Adj. EPS $0.28-$0.30 Vs $0.24 Estimate

Antero Resources Q2 EPS $(0.21) Up From $(0.28) YoY; Revenue $978.654M Up From $953.305M YoY

As part of the initial review to optimize its network,&nbsp;Albemarle&nbsp;today announced changes to the operating footprint at its Kemerton lithium hydroxide conversion site in Australia. The company will: &nbsp;
<ul>
<li>Stop construction activities at Train 3</li>
<li>Idle production at Train 2 and place the unit in care and maintenance</li>
<li>Focus manufacturing efforts on the continued ramp and qualification of Train 1</li>
</ul>

Albemarle Launches Comprehensive Review Of Its Cost And Operating Structure

Inari Medical, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nari#NASDAQ">NARI</a>) reported an adjusted loss per share of 41 cents in the second quarter of 2024 compared with the year-ago period&#39;s loss of 4 cents per share. The Zacks Consensus Estimate for loss per share was pegged at 16 cents. On a GAAP basis, the company recorded a loss per share of 54 cents. There was no adjustment in the prior-year period.
<h3>Revenues in Detail</h3>
Inari Medical registered revenues of $145.8 million in the second quarter, up 22.5% year over year. The figure beat the Zacks Consensus Estimate by 1.3%.
<h3>Q2 Highlights</h3>
According to management, Inari Medical saw record cases and revenue generation outside of the United States in the second quarter. Increased adoption of Inari Medical&#39;s products in Western Europe was the main factor driving its performance and excellent case growth in early-stage markets in Latin America, Canada, and the Asia-Pacific region.
The company is expecting to start treating patients in China and Japan in 2024, and it is currently making good progress in both regions. Management expects its international business to represent more than 20% of total revenues in the future on the back of unmet needs.
During the reported quarter, NARI witnessed growth in revenues from its global VTE business on the back of commercial expansion and market development. The global VTE revenues were 138 million, up 21% year over year.
Emerging therapies business saw robust growth as well. The company recorded $8 million during the quarter, reflecting 66% year-over-year growth and 36% sequentially. Per the second-quarter earnings call, Inari Medical received PMA approval from the FDA for its second-generation stent delivery system, which is likely to improve a key component of the LimFlow System.
The company is currently progressing well with the limited market release of the LimFlow system in the United States. It has already signed several reimbursement deals for the system. NARI expects to start the full commercial release of the system in the fourth quarter of 2024.
During the second quarter of 2024, Inari Medical commenced the full commercial launch of VenaCore, its latest purpose-built device within the CBD toolkit for the treatment of acute and chronic venous diseases.
Inari Medical expects to showcase its PEERLESS data, which is one of the three randomized controlled trials (RCTs), in the fourth quarter of 2024. PEERLESS study evaluates patient outcomes using the FlowTriever device. The company is progressing well with the other two RCTs as well.
<h3>Margin Trend</h3>
In the quarter under review, Inari Medical&#39;s gross profit improved 19.7% to $125.8 million. The gross margin contracted 210 basis points (bps) to 86.3%.
Selling, general and administrative expenses rose 33.4% to $114.2 million. Research and development expenses increased 18.1% year over year to $24.9 million. The operating expenses of $148.3 million increased 38.9% year over year.
The operating loss totaled $22.4 million compared with $1.5 million in the year-ago period. Excluding acquisition-related costs of $1 million, acquired intangible asset amortization of $2.4 million, and change in fair value of contingent consideration liability of $5.7 million, adjusted operating loss in the second quarter was $13.3 million.
<h3>Financial Position</h3>
Inari Medical exited second-quarter 2024 with cash and cash equivalents and short-term investments of $109.7 million compared with $101.8 million at the first quarter of 2024-end.
Cumulative net cash used in operating activities at the end of second-quarter 2024 was $0.8 million compared to cumulative net cash provided by operating activities of approximately $7.7 million in the year-ago quarter.
<h3>Guidance</h3>
Inari Medical has raised its financial outlook for 2024.
For 2024, the company now expects revenues in the range of $594.5-$604.5 million (reflecting growth of 20.5%-22.5% from 2023) compared with the previous guidance of $592.5-$602.5 million. The Zacks Consensus Estimate is pegged at $599.1 million.
<h3>Our Take</h3>
Inari Medical exited the second quarter of 2024 with an improvement in overall revenues. However, earnings missed the Zacks Consensus Estimate. The business&#39;s product portfolio witnessed consistent improvement, which led to robust product adoption by its customers. The geographical performances were equally remarkable.
However, Inari Medical&#39;s lower gross margin and dismal bottom-line performances were disappointing. The company incurred an operating loss during the quarter, which raised our apprehension.
<div class="chart_embed">
<h3>Inari Medical, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Inari Medical, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/7b/1722436491.png" style="height:265px; width:580px" title="" />
Inari Medical, Inc. price-consensus-eps-surprise-chart | Inari Medical, Inc. Quote
</div>
<h3>Zacks Rank and Key Picks</h3>
Inari Medical currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space that have announced quarterly results are&nbsp;Boston Scientific Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>),&nbsp;Hologic (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holx#NASDAQ">HOLX</a>) and&nbsp;Universal Health Services&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uhs#NYSE">UHS</a>).
Boston Scientific reported second-quarter 2024 adjusted EPS of 62 cents, which beat the Zacks Consensus Estimate by 6.9%. Revenues of $4.12 billion surpassed the Zacks Consensus Estimate by 2.5%. It currently carries a Zacks Rank of 2 (Buy).
Boston Scientific has a long-term growth rate of 12.5%. BSX&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.18%.
Hologic, carrying a Zacks Rank of 2 at present, has a long-term growth rate of 7.4%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 4.50%.
Hologic reported second-quarter 2024 adjusted EPS of $1.06, which beat the Zacks Consensus Estimate by 3.9%. Revenues of $1 billion surpassed the Zacks Consensus Estimate by 1.1%.
Universal Health Services reported second-quarter 2024 adjusted EPS of $4.31, which beat the Zacks Consensus Estimate by 27.9%. Revenues of $3.9 billion surpassed the Zacks Consensus Estimate by 1.5%. It currently carries a Zacks Rank of 1.
Universal Health Services has a long-term growth rate of 18%. UHS&#39; earnings surpassed estimates in each of the trailing four quarters, the average surprise being 14.58%.
<a href="https://www.zacks.com/stock/news/2313344/inari-medical-nari-q2-earnings-miss-revenues-increase-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2313344">To read this article on Zacks.com click here.</a>

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HOLX

NARI

Inari Medical Q2 Earnings Miss, Revenues Increase Y/Y

Credit Acceptance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CACC#NASDAQ">CACC</a>) reported quarterly earnings of $10.29 per share which beat the analyst consensus estimate of $8.91 by 15.49 percent. This is a 3.74 percent decrease over earnings of $10.69 per share from the same period last year. The company reported quarterly sales of $538.200 million which beat the analyst consensus estimate of $479.028 million by 12.35 percent. This is a 12.62 percent increase over sales of $477.900 million the same period last year.

CACC

Credit Acceptance Q2 2024 Adj. EPS $10.29 Beats $8.91 Estimate, Sales $538.200M Beat $479.028M Estimate

Regal Rexnord (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRX#NYSE">RRX</a>) reported quarterly earnings of $2.29 per share which beat the analyst consensus estimate of $2.13 by 7.51 percent. The company reported quarterly sales of $1.55 billion which beat the analyst consensus estimate of $1.53 billion by 1.40 percent. This is a 12.49 percent decrease over sales of $1.77 billion the same period last year.

Regal Rexnord Q2 2024 Adj EPS $2.29 Beats $2.13 Estimate, Sales $1.55B Beat $1.53B Estimate

Tenable Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENB#NASDAQ">TENB</a>) reported quarterly earnings of $0.31 per share which beat the analyst consensus estimate of $0.24 by 29.17 percent. The company reported quarterly sales of $221.20 million which beat the analyst consensus estimate of $218.51 million by 1.23 percent. This is a 13.41 percent increase over sales of $195.04 million the same period last year.

Tenable Holdings Q2 2024 Adj EPS $0.31 Beats $0.24 Estimate, Sales $221.20M Beat $218.51M Estimate

GFL Environmental (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFL#NYSE">GFL</a>) reported quarterly sales of $2.06 billion which met the analyst consensus estimate. This is a 42.36 percent increase over sales of $1.45 billion the same period last year.

GFL Environmental Q2 Sales CAD$2.06B Inline

Sunnova Energy Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) reported quarterly losses of $(0.27) per share which beat the analyst consensus estimate of $(0.63) by 57.14 percent. The company reported quarterly sales of $219.60 million which beat the analyst consensus estimate of $216.78 million by 1.30 percent. This is a 31.99 percent increase over sales of $166.38 million the same period last year.

NOVA

Sunnova Energy Intl Q2 2024 Adj EPS $(0.27) Beats $(0.63) Estimate, Sales $219.60M Beat $216.78M Estimate

NMI Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmih#NASDAQ">NMIH</a>) reported second-quarter 2024 operating net income per share of $1.20, which beat the Zacks Consensus Estimate by 15.4%. The bottom line increased 26.3% year over year. The quarterly results reflected higher premiums and net investment income, and increased persistency, which drove growth in the company&#39;s high-quality insured portfolio.
<h3>Operational Update</h3>
NMI Holdings&#39; total operating revenues of $162 million increased 13.3% year over year on higher net premiums earned (up 12%) and net investment income (up 25%). Revenues beat the Zacks Consensus Estimate by 2.1%.
Primary insurance in force increased 6.4% to $203.5 billion. Annual persistency was 85.4%, down 60 basis points (bps) year over year. New insurance written was $12.5 billion, up 9% year over year.
<div class="chart_embed">
<h3>NMI Holdings Inc Price, Consensus and EPS Surprise</h3>
<img alt="NMI Holdings Inc Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/99/1722441175.png" style="height:265px; width:574px" title="" />
NMI Holdings Inc price-consensus-eps-surprise-chart | NMI Holdings Inc Quote
Underwriting and operating expenses totaled $28.3 million, up 3.2% year over year. Insurance claims and claim expenses were $0.3 million, reflecting a drop of 90.4% year over year. The loss ratio was 0.2, which improved 210 bps year over year.
The adjusted expense ratio of 20.1 improved 160 bps year over year, while the adjusted combined ratio of 20.3 improved 80 bps year over year.
</div>
<h3>Financial Update</h3>
Book value per share, a measure of net worth, was up 17% year over year to $27.54 as of Jun 30, 2024.
NMI Holdings had $62.6 million in cash and cash equivalents, which decreased 35.2% from 2023 end. The debt balance of $414.2 million increased 4.2% from the end of 2023.
The annualized adjusted return on equity was 18.3%, which contracted 30 bps year over year.
Total PMIERs available assets were $2.8 billion. Net risk-based required assets totaled $1.7 billion at the end of second-quarter 2024.
<h3>Zacks Rank</h3>
NMIH currently carries a Zacks Rank #3 (Hold).
<h3>Performance of Other Insurers</h3>
The Travelers Companies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trv#NYSE">TRV</a>) reported second-quarter 2024 core income of $2.51 per share, which beat the Zacks Consensus Estimate by 25.5%.&nbsp; The bottom line skyrocketed from 6 cents earned in the year-ago quarter, driven by solid underlying results, net favorable prior year reserve development and higher net investment income, partially offset by higher catastrophe losses. Travelers&#39; total revenues increased 12.4% from the year-ago quarter to $11.3 billion, primarily driven by higher premiums. The top-line figure, however, missed the Zacks Consensus Estimate by 1%.
The Progressive Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgr#NYSE">PGR</a>) second-quarter 2024 earnings per share of $2.65 beat the Zacks Consensus Estimate of $1.99. The bottom line improved more than five times year over year. Operating revenues of $18.3 billion beat the Zacks Consensus Estimate by 1.4% and increased 18.9% year over year.
Progressive&#39;s net premiums earned grew 19% to $17.2 billion and beat our estimate of $16.7 billion. Combined ratio improved 850 bps from the prior-year quarter&#39;s level to 91.9.
Selective Insurance Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sigi#NASDAQ">SIGI</a>) reported second-quarter 2024 operating loss of $1.10 per share against the Zacks Consensus Estimate of earnings of $1.56. The company had reported an operating income of 99 cents per share in the prior year quarter. The quarterly results reflected poor underwriting performance, unfavorable prior-year casualty reserve development and escalating costs, offset by higher premiums and net investment income.
Selective Insurance&#39;s total revenues of $1.2 billion increased 15% from the year-ago quarter&#39;s figure, primarily due to higher premiums earned, net investment income and net premiums written. The top line missed the Zacks Consensus Estimate by 1.3%.
<a href="https://www.zacks.com/stock/news/2313392/nmi-holdings-nmih-q2-earnings-and-revenues-beat-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2313392">To read this article on Zacks.com click here.</a>

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