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Patterson-UTI Energy (PTEN) posted a sharp swing to loss in Q2 25. Revenue fell 10% YoY to $1.22 bn, driven by softer activity in Drilling (-8%) and Completion Services (-11%). Operating results turned from a $45 m profit to a $29 m loss as lower volumes, cost pressure and a $27.8 m impairment on Latin-American drilling assets weighed on margins. Net loss attributable to shareholders was $49.1 m (-$0.13/sh) versus $11.1 m (+$0.03) a year ago.

For 1H 25, revenue declined 13% to $2.50 bn and the company recorded a $47.4 m net loss. Cash flow from operations dropped to $347.9 m (-38%), while capex remained high at $306 m, cutting cash on hand to $185.9 m (31 Dec 24: $241.3 m). Liquidity is supported by an undrawn $500 m unsecured revolver (available $498 m) and no near-term debt maturities after retiring $6.4 m of equipment loans.

Balance-sheet equity slipped 4% to $3.35 bn, largely from losses and $35.8 m of share repurchases (4.28 m shares). PTEN maintained its quarterly dividend at $0.08/sh (payout $30.7 m) and still has $728 m remaining on its $1 bn buyback authorisation.

Segment view: Drilling Services stayed profitable ($40.6 m) but Completion Services swung to a $29.2 m loss; Drilling Products earned $6.8 m. Contract drilling backlog stands at $312 m, with 9% extending beyond 12 months.

Outlook concerns: lower U.S. rig counts, OPEC+ supply increases and macro uncertainty pressured activity; management warns further weakness could trigger additional impairments.

Live Oak Bancshares (NYSE: LOB) filed a preliminary 424(b)(5) prospectus to issue an unspecified number of depositary shares, each representing 1/40th of a new Series A Fixed-Rate Non-Cumulative Perpetual Preferred share (liquidation value $25 per depositary share, $1,000 per preferred share). Dividends are discretionary, non-cumulative and paid quarterly beginning 15 Sep 2025; the preferred becomes callable on any dividend date from 15 Sep 2030, or sooner upon a regulatory-capital event, at $25 plus declared dividends. The preferred ranks senior to common stock, has no voting rights except for customary protective provisions, and is expected to list on NYSE as 鈥淟OB PR A.鈥� Net proceeds (鈮坓ross less underwriting discount/expenses) will strengthen regulatory capital and support balance-sheet growth; underwriters hold a 30-day over-allotment option.

Management released unaudited 2Q 25 highlights: revenue $143.7 m (+14% QoQ), net income $23.4 m (+141% QoQ), EPS $0.51, provision expense down 20% to $23.3 m, and non-interest expense up 6% to $89.3 m. Loans originated rose 9% to $1.53 bn; total assets reached $13.83 bn and deposits $12.59 bn. Regulatory capital at 31 Mar 25 stood at CET1/Tier 1 10.67% and leverage 8.03%; the offering will boost Tier 1 capital classification (Additional Tier 1) subject to Federal Reserve approval.

ALT5 Sigma Corporation (NASDAQ: ALTS) filed an 8-K announcing the May 9 2025 acquisition of 鈥淢swipe,鈥� a Canada-based provider of multi-currency, fiat- and crypto-enabled payment card solutions available on Visa and Mastercard networks.

• Strategic rationale: Mswipe鈥檚 B2B platform extends ALT5鈥檚 existing digital-asset settlement offering by adding globally usable physical & virtual cards, real-time FX/crypto conversion and robust compliance.
• Consideration: (i) 1 million restricted ALTS shares valued at $6.10 each (~$6.1 M); (ii) 500 k four-year warrants exercisable at $5.50; (iii) $4.8 M in shares of spin-off Alyea Therapeutics; (iv) two 14-month promissory notes totalling ~$1 M at 3.99% interest; and (v) assumption/reset of an existing $5.1 M target-level note.
• Contingent payout: Sellers may receive a one-time earn-out of up to $20 M (cash or stock) if the operating subsidiaries reach 鈮�$15 M annualised or actual revenue.
• Audited FY25/FY24 Mswipe financials (Ex. 99.1) and unaudited pro-forma combined statements (Ex. 99.2) were filed; a press release (Ex. 99.3) was issued on May 13 2025.

No immediate revenue or EPS guidance was provided. The transaction is expected to close seamlessly as ALT5 integrates card issuance, aiming to bridge digital assets with traditional payment rails.

Form 144 highlights for Twilio Inc. (TWLO):

• An affiliated holder, identified as Khozema Shipchandler, has filed to sell 7,000 common shares through Charles Schwab & Co. on or about 30 June 2025.
• The proposed sale represents a market value of $872,011 versus 152.7 million shares outstanding, or roughly 0.005% of shares outstanding.
• The shares were acquired via equity-compensation restricted-stock lapses on 5 June 2020 (1,956 shares) and 31 Dec 2023 (5,044 shares).
• Recent insider activity: the same seller disposed of 12,056 shares on 31 Mar 2025 for $1.16 million and 14,545 shares on 3 Apr 2025 for $1.33 million.
• No adverse information about Twilio鈥檚 operations is disclosed; the filer attests to possessing no non-public material adverse data.

The filing is a compliance notice rather than a corporate action and does not change Twilio鈥檚 fundamentals, but sustained insider selling can influence investor sentiment.