AG˹ٷ

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[8-K] Sana Biotechnology, Inc. Reports Material Event

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

8x8, Inc. (EGHT) Q1 FY26 10-Q highlights (quarter ended 30 Jun 2025):

  • Revenue: $181.4 M (+1.8% YoY). Service revenue rose 2.0% to $176.3 M; usage growth offset modest subscription attrition.
  • Profitability: GAAP gross margin 66.4% (-150 bp YoY). Operating result swung to a $0.6 M profit from a $1.4 M loss. Net loss narrowed to $4.3 M (-0.03 EPS) vs. $10.3 M (-0.08 EPS).
  • Cost discipline: R&D down 11.7%; G&A flat; sales & marketing held to +1.6%. Interest expense fell 60% after refinancing the 2022 term loan with a lower-cost 2024 facility.
  • Cash & liquidity: Cash and cash equivalents $81.3 M (-$6.7 M Q-to-Q). OCF positive at $11.9 M; $15 M of term-loan principal prepaid and $1.8 M of stock repurchased.
  • Balance sheet: Total assets $684.3 M; stockholders� equity improved to $128.2 M (from $122.2 M at 31 Mar 25). Net debt (cash minus term loan & convertibles) roughly $384 M.
  • Geography: U.S. revenue fell 8% YoY to $113.1 M; U.K. +5%; Other International +44% on CPaaS strength.
  • Outlook & risks: Management cites macro uncertainty, customer churn, and leverage (term loan + $202 M converts) as key headwinds; 83% of $755 M RPO expected to convert to revenue within 24 months.

The quarter shows early traction in cost control and debt refinancing, but topline growth remains modest and margin compression in service delivery warrants monitoring.

8x8, Inc. (EGHT) evidenze del 10-Q Q1 FY26 (trimestre terminato il 30 giugno 2025):

  • Ricavi: 181,4 milioni di dollari (+1,8% su base annua). I ricavi da servizi sono aumentati del 2,0% a 176,3 milioni; la crescita dell’utilizzo ha compensato una leggera perdita di abbonati.
  • 徱پà: Margine lordo GAAP al 66,4% (-150 punti base su base annua). Il risultato operativo è passato a un utile di 0,6 milioni di dollari da una perdita di 1,4 milioni. La perdita netta si è ridotta a 4,3 milioni di dollari (-0,03 EPS) rispetto a 10,3 milioni (-0,08 EPS).
  • Disciplina dei costi: R&S in calo dell�11,7%; G&A stabile; vendite e marketing contenuti a +1,6%. Le spese per interessi sono diminuite del 60% dopo il rifinanziamento del prestito a termine 2022 con una struttura a costo inferiore nel 2024.
  • ܾ徱à: ܾ徱à e equivalenti di cassa a 81,3 milioni (-6,7 milioni trimestre su trimestre). Flusso di cassa operativo positivo a 11,9 milioni; 15 milioni di rimborso anticipato del prestito a termine e 1,8 milioni di riacquisto azionario.
  • Bilancio: Attività totali pari a 684,3 milioni; patrimonio netto migliorato a 128,2 milioni (da 122,2 milioni al 31 marzo 2025). Debito netto (cassa meno prestito a termine e convertibili) circa 384 milioni.
  • Geografia: Ricavi USA in calo dell�8% su base annua a 113,1 milioni; Regno Unito +5%; Altri mercati internazionali +44% grazie alla forza di CPaaS.
  • Prospettive e rischi: La direzione segnala incertezze macroeconomiche, abbandono clienti e leva finanziaria (prestito a termine + 202 milioni in convertibili) come principali sfide; si prevede che l�83% dei 755 milioni di RPO si convertirà in ricavi entro 24 mesi.

Il trimestre evidenzia i primi segnali di controllo dei costi e rifinanziamento del debito, ma la crescita dei ricavi rimane contenuta e la compressione dei margini nel servizio richiede attenzione.

8x8, Inc. (EGHT) aspectos destacados del 10-Q del Q1 FY26 (trimestre finalizado el 30 de junio de 2025):

  • Ingresos: 181,4 millones de dólares (+1,8% interanual). Los ingresos por servicios aumentaron un 2,0% hasta 176,3 millones; el crecimiento en uso compensó una ligera pérdida de suscripciones.
  • Rentabilidad: Margen bruto GAAP del 66,4% (-150 puntos básicos interanual). El resultado operativo pasó a un beneficio de 0,6 millones de dólares desde una pérdida de 1,4 millones. La pérdida neta se redujo a 4,3 millones (-0,03 EPS) frente a 10,3 millones (-0,08 EPS).
  • Disciplina de costes: I+D bajó un 11,7%; G&A estable; ventas y marketing controlados con un aumento del 1,6%. Los gastos por intereses cayeron un 60% tras refinanciar el préstamo a plazo de 2022 con una facilidad más económica en 2024.
  • Liquidez: Efectivo y equivalentes de efectivo 81,3 millones (-6,7 millones trimestre a trimestre). Flujo de caja operativo positivo de 11,9 millones; 15 millones de principal del préstamo a plazo prepagados y 1,8 millones en recompra de acciones.
  • Balance: Activos totales de 684,3 millones; patrimonio neto mejorado a 128,2 millones (desde 122,2 millones al 31 de marzo de 2025). Deuda neta (efectivo menos préstamo a plazo y convertibles) aproximadamente 384 millones.
  • ұDzí: Ingresos en EE.UU. cayeron un 8% interanual a 113,1 millones; Reino Unido +5%; Otros internacionales +44% por fortaleza en CPaaS.
  • Perspectivas y riesgos: La dirección menciona incertidumbre macro, pérdida de clientes y apalancamiento (préstamo a plazo + 202 millones en convertibles) como principales obstáculos; se espera que el 83% de los 755 millones de RPO se conviertan en ingresos en 24 meses.

El trimestre muestra señales iniciales de control de costes y refinanciación de deuda, pero el crecimiento de ingresos sigue siendo modesto y la compresión de márgenes en la prestación del servicio merece seguimiento.

8x8, Inc. (EGHT) 2026 회계연도 1분기 10-Q 주요 내용 (2025� 6� 30� 종료 분기):

  • 매출: 1� 8,140� 달러 (전년 대� +1.8%). 서비� 매출은 1� 7,630� 달러� 2.0% 증가; 사용� 증가가 구독 감소� 상쇄�.
  • 수익�: GAAP 총이익률 66.4% (전년 대� -150bp). 영업이익은 140� 달러 적자에서 60� 달러 흑자� 전환. 순손실은 430� 달러(-0.03 EPS)� 축소, 전년 1,030� 달러(-0.08 EPS) 대� 개선.
  • 비용 관�: 연구개발� 11.7% 감소; 일반관리비� 변� 없음; 영업 � 마케� 비용은 1.6% 증가� 제한. 2022� 만기 대출을 2024� 저비용 대출로 재융� � 이자 비용 60% 감소.
  • 현금 � 유동�: 현금 � 현금� 자산 8,130� 달러 (분기 대� -670� 달러). 영업활동 현금흐름은 1,190� 달러 흑자; 만기 대� 원금 1,500� 달러 선지� � 자사� 180� 달러 매입.
  • 재무�: 총자� 6� 8,430� 달러; 주주자본은 1� 2,820� 달러� 증가 (2025� 3� 31� 1� 2,220� 달러 대�). 순부�(현금 차감 � 만기 대� � 전환사채 포함) � 3� 8,400� 달러.
  • 지역별 매출: 미국 매출은 전년 대� 8% 감소� 1� 1,310� 달러; 영국 +5%; 기타 국제 시장은 CPaaS 강세� 44% 증가.
  • 전망 � 위험: 경영진은 거시경제 불확실성, 고객 이탈, 그리� 레버리지(만기 대� + 2� 200� 달러 전환사채)� 주요 리스크로 지�; 7� 5,500� 달러� RPO � 83%가 24개월 � 매출� 전환� 것으� 예상.

이번 분기� 비용 통제와 부� 재융자에� 초기 성과� 보였으나, 매출 성장률은 여전� 완만하며 서비� 제공 마진 압박은 지속적으로 주시� 필요가 있다.

8x8, Inc. (EGHT) points clés du 10-Q T1 FY26 (trimestre clos au 30 juin 2025) :

  • Chiffre d'affaires : 181,4 M$ (+1,8 % en glissement annuel). Les revenus de services ont augmenté de 2,0 % à 176,3 M$ ; la croissance de l'utilisation a compensé une légère attrition des abonnements.
  • Գٲé : Marge brute GAAP de 66,4 % (-150 points de base en glissement annuel). Le résultat opérationnel est passé d'une perte de 1,4 M$ à un profit de 0,6 M$. La perte nette s'est réduite à 4,3 M$ (-0,03 BPA) contre 10,3 M$ (-0,08 BPA).
  • Maîtrise des coûts : R&D en baisse de 11,7 % ; frais G&A stables ; ventes et marketing limités à +1,6 %. Les charges d’intérêts ont chuté de 60 % après le refinancement du prêt à terme 2022 avec une facilité moins coûteuse en 2024.
  • Trésorerie et liquidités : Trésorerie et équivalents de trésorerie à 81,3 M$ (-6,7 M$ trimestre à trimestre). Flux de trésorerie opérationnel positif de 11,9 M$ ; 15 M$ de principal de prêt à terme remboursés par anticipation et 1,8 M$ d’actions rachetées.
  • Bilan : Actifs totaux de 684,3 M$ ; capitaux propres améliorés à 128,2 M$ (contre 122,2 M$ au 31 mars 2025). Dette nette (trésorerie moins prêt à terme et convertibles) d’environ 384 M$.
  • éDz󾱱 : Les revenus aux États-Unis ont chuté de 8 % en glissement annuel à 113,1 M$ ; Royaume-Uni +5 % ; autres marchés internationaux +44 % grâce à la vigueur du CPaaS.
  • Perspectives et risques : La direction cite l’incertitude macroéconomique, la perte de clients et l’effet de levier (prêt à terme + 202 M$ de convertibles) comme principaux freins ; 83 % des 755 M$ de RPO devraient se convertir en revenus dans les 24 mois.

Le trimestre montre des premiers signes de maîtrise des coûts et de refinancement de la dette, mais la croissance du chiffre d'affaires reste modérée et la compression des marges dans la prestation de services mérite une surveillance continue.

8x8, Inc. (EGHT) Q1 FY26 10-Q Highlights (Quartal zum 30. Juni 2025):

  • Umsatz: 181,4 Mio. USD (+1,8% gegenüber Vorjahr). Serviceumsatz stieg um 2,0 % auf 176,3 Mio. USD; Nutzungswachstum kompensierte moderaten Abo-Rückgang.
  • ʰǴھٲä: GAAP-Bruttomarge 66,4 % (-150 Basispunkte gegenüber Vorjahr). Betriebsergebnis drehte von einem Verlust von 1,4 Mio. USD zu einem Gewinn von 0,6 Mio. USD. Nettoverlust verringerte sich auf 4,3 Mio. USD (-0,03 EPS) gegenüber 10,3 Mio. (-0,08 EPS).
  • Kostendisziplin: F&E um 11,7 % gesenkt; Verwaltung unverändert; Vertrieb & Marketing auf +1,6 % begrenzt. Zinsaufwand sank um 60 % nach Refinanzierung des 2022er Terminkredits mit günstigerem 2024er Kredit.
  • Barmittel & Liquidität: Zahlungsmittel und Zahlungsmitteläquivalente 81,3 Mio. USD (-6,7 Mio. Q-o-Q). Operativer Cashflow positiv mit 11,9 Mio.; 15 Mio. Tilgung des Terminkredits vorzeitig und 1,8 Mio. Aktienrückkäufe.
  • Bilanz: Gesamtvermögen 684,3 Mio.; Eigenkapital verbesserte sich auf 128,2 Mio. (von 122,2 Mio. zum 31. März 2025). Nettoverschuldung (Barmittel minus Terminkredit & Wandelanleihen) ca. 384 Mio.
  • Geographie: US-Umsatz fiel um 8 % auf 113,1 Mio.; UK +5 %; Sonstige International +44 % dank Stärke im CPaaS-Bereich.
  • Ausblick & Risiken: Management nennt makroökonomische Unsicherheiten, Kundenabwanderung und Verschuldung (Terminkredit + 202 Mio. Wandelanleihen) als wesentliche Herausforderungen; 83 % der 755 Mio. RPO sollen innerhalb von 24 Monaten in Umsatz umgewandelt werden.

Das Quartal zeigt erste Fortschritte bei Kostenkontrolle und Schuldenrefinanzierung, aber das Umsatzwachstum bleibt moderat, und die Margenkompression bei der Serviceerbringung sollte weiterhin beobachtet werden.

Positive
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Negative
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Insights

TL;DR: EGHT turned marginally profitable on operations and cut interest costs, but growth remains muted and cash fell.

Operationally, the company executed well on cost controls; opex shrank 2% YoY, flipping to a $0.6 M operating profit. Interest savings from the 2024 SOFR-based term loan drove a 60% YoY drop in interest expense, materially narrowing net loss. However, service revenue growth of 2% trails UCaaS/CCaaS peers (mid-single digits), and U.S. revenue contraction shows competitive pressure. Gross margin dipped to 66.4% as network and cloud-hosting costs outpaced revenue. Cash burn after financing activities (-$17.3 M) cut the cash cushion to $81 M; with $336 M of debt, leverage remains elevated (�3.3× annualised EBITDA). Overall impact: mildly positive for sentiment given profitability inflection, yet valuation upside hinges on reigniting growth.

TL;DR: Refinancing lowers interest burden; leverage profile stable but still high, liquidity adequate.

Debt stands at $335 M (term loan $136 M, 4% converts $199 M). The new 2024 term loan carries SOFR+3% versus SOFR+6.5% previously, reducing annual cash interest by roughly $17 M. Scheduled amortisation is modest ($6.6 M current), and management prepaid $15 M this quarter and another $10 M in July, signalling deleveraging intent. Interest-coverage covenant appears comfortable with TTM EBITDAR � covenant threshold. Cash of $82 M plus positive OCF provides near-term flexibility, though share buybacks consumed $1.8 M. Key watch items: continued cash generation, gross margin pressure, and execution on revenue growth; any miss could strain capacity to refinance the 2028 converts.

8x8, Inc. (EGHT) evidenze del 10-Q Q1 FY26 (trimestre terminato il 30 giugno 2025):

  • Ricavi: 181,4 milioni di dollari (+1,8% su base annua). I ricavi da servizi sono aumentati del 2,0% a 176,3 milioni; la crescita dell’utilizzo ha compensato una leggera perdita di abbonati.
  • 徱پà: Margine lordo GAAP al 66,4% (-150 punti base su base annua). Il risultato operativo è passato a un utile di 0,6 milioni di dollari da una perdita di 1,4 milioni. La perdita netta si è ridotta a 4,3 milioni di dollari (-0,03 EPS) rispetto a 10,3 milioni (-0,08 EPS).
  • Disciplina dei costi: R&S in calo dell�11,7%; G&A stabile; vendite e marketing contenuti a +1,6%. Le spese per interessi sono diminuite del 60% dopo il rifinanziamento del prestito a termine 2022 con una struttura a costo inferiore nel 2024.
  • ܾ徱à: ܾ徱à e equivalenti di cassa a 81,3 milioni (-6,7 milioni trimestre su trimestre). Flusso di cassa operativo positivo a 11,9 milioni; 15 milioni di rimborso anticipato del prestito a termine e 1,8 milioni di riacquisto azionario.
  • Bilancio: Attività totali pari a 684,3 milioni; patrimonio netto migliorato a 128,2 milioni (da 122,2 milioni al 31 marzo 2025). Debito netto (cassa meno prestito a termine e convertibili) circa 384 milioni.
  • Geografia: Ricavi USA in calo dell�8% su base annua a 113,1 milioni; Regno Unito +5%; Altri mercati internazionali +44% grazie alla forza di CPaaS.
  • Prospettive e rischi: La direzione segnala incertezze macroeconomiche, abbandono clienti e leva finanziaria (prestito a termine + 202 milioni in convertibili) come principali sfide; si prevede che l�83% dei 755 milioni di RPO si convertirà in ricavi entro 24 mesi.

Il trimestre evidenzia i primi segnali di controllo dei costi e rifinanziamento del debito, ma la crescita dei ricavi rimane contenuta e la compressione dei margini nel servizio richiede attenzione.

8x8, Inc. (EGHT) aspectos destacados del 10-Q del Q1 FY26 (trimestre finalizado el 30 de junio de 2025):

  • Ingresos: 181,4 millones de dólares (+1,8% interanual). Los ingresos por servicios aumentaron un 2,0% hasta 176,3 millones; el crecimiento en uso compensó una ligera pérdida de suscripciones.
  • Rentabilidad: Margen bruto GAAP del 66,4% (-150 puntos básicos interanual). El resultado operativo pasó a un beneficio de 0,6 millones de dólares desde una pérdida de 1,4 millones. La pérdida neta se redujo a 4,3 millones (-0,03 EPS) frente a 10,3 millones (-0,08 EPS).
  • Disciplina de costes: I+D bajó un 11,7%; G&A estable; ventas y marketing controlados con un aumento del 1,6%. Los gastos por intereses cayeron un 60% tras refinanciar el préstamo a plazo de 2022 con una facilidad más económica en 2024.
  • Liquidez: Efectivo y equivalentes de efectivo 81,3 millones (-6,7 millones trimestre a trimestre). Flujo de caja operativo positivo de 11,9 millones; 15 millones de principal del préstamo a plazo prepagados y 1,8 millones en recompra de acciones.
  • Balance: Activos totales de 684,3 millones; patrimonio neto mejorado a 128,2 millones (desde 122,2 millones al 31 de marzo de 2025). Deuda neta (efectivo menos préstamo a plazo y convertibles) aproximadamente 384 millones.
  • ұDzí: Ingresos en EE.UU. cayeron un 8% interanual a 113,1 millones; Reino Unido +5%; Otros internacionales +44% por fortaleza en CPaaS.
  • Perspectivas y riesgos: La dirección menciona incertidumbre macro, pérdida de clientes y apalancamiento (préstamo a plazo + 202 millones en convertibles) como principales obstáculos; se espera que el 83% de los 755 millones de RPO se conviertan en ingresos en 24 meses.

El trimestre muestra señales iniciales de control de costes y refinanciación de deuda, pero el crecimiento de ingresos sigue siendo modesto y la compresión de márgenes en la prestación del servicio merece seguimiento.

8x8, Inc. (EGHT) 2026 회계연도 1분기 10-Q 주요 내용 (2025� 6� 30� 종료 분기):

  • 매출: 1� 8,140� 달러 (전년 대� +1.8%). 서비� 매출은 1� 7,630� 달러� 2.0% 증가; 사용� 증가가 구독 감소� 상쇄�.
  • 수익�: GAAP 총이익률 66.4% (전년 대� -150bp). 영업이익은 140� 달러 적자에서 60� 달러 흑자� 전환. 순손실은 430� 달러(-0.03 EPS)� 축소, 전년 1,030� 달러(-0.08 EPS) 대� 개선.
  • 비용 관�: 연구개발� 11.7% 감소; 일반관리비� 변� 없음; 영업 � 마케� 비용은 1.6% 증가� 제한. 2022� 만기 대출을 2024� 저비용 대출로 재융� � 이자 비용 60% 감소.
  • 현금 � 유동�: 현금 � 현금� 자산 8,130� 달러 (분기 대� -670� 달러). 영업활동 현금흐름은 1,190� 달러 흑자; 만기 대� 원금 1,500� 달러 선지� � 자사� 180� 달러 매입.
  • 재무�: 총자� 6� 8,430� 달러; 주주자본은 1� 2,820� 달러� 증가 (2025� 3� 31� 1� 2,220� 달러 대�). 순부�(현금 차감 � 만기 대� � 전환사채 포함) � 3� 8,400� 달러.
  • 지역별 매출: 미국 매출은 전년 대� 8% 감소� 1� 1,310� 달러; 영국 +5%; 기타 국제 시장은 CPaaS 강세� 44% 증가.
  • 전망 � 위험: 경영진은 거시경제 불확실성, 고객 이탈, 그리� 레버리지(만기 대� + 2� 200� 달러 전환사채)� 주요 리스크로 지�; 7� 5,500� 달러� RPO � 83%가 24개월 � 매출� 전환� 것으� 예상.

이번 분기� 비용 통제와 부� 재융자에� 초기 성과� 보였으나, 매출 성장률은 여전� 완만하며 서비� 제공 마진 압박은 지속적으로 주시� 필요가 있다.

8x8, Inc. (EGHT) points clés du 10-Q T1 FY26 (trimestre clos au 30 juin 2025) :

  • Chiffre d'affaires : 181,4 M$ (+1,8 % en glissement annuel). Les revenus de services ont augmenté de 2,0 % à 176,3 M$ ; la croissance de l'utilisation a compensé une légère attrition des abonnements.
  • Գٲé : Marge brute GAAP de 66,4 % (-150 points de base en glissement annuel). Le résultat opérationnel est passé d'une perte de 1,4 M$ à un profit de 0,6 M$. La perte nette s'est réduite à 4,3 M$ (-0,03 BPA) contre 10,3 M$ (-0,08 BPA).
  • Maîtrise des coûts : R&D en baisse de 11,7 % ; frais G&A stables ; ventes et marketing limités à +1,6 %. Les charges d’intérêts ont chuté de 60 % après le refinancement du prêt à terme 2022 avec une facilité moins coûteuse en 2024.
  • Trésorerie et liquidités : Trésorerie et équivalents de trésorerie à 81,3 M$ (-6,7 M$ trimestre à trimestre). Flux de trésorerie opérationnel positif de 11,9 M$ ; 15 M$ de principal de prêt à terme remboursés par anticipation et 1,8 M$ d’actions rachetées.
  • Bilan : Actifs totaux de 684,3 M$ ; capitaux propres améliorés à 128,2 M$ (contre 122,2 M$ au 31 mars 2025). Dette nette (trésorerie moins prêt à terme et convertibles) d’environ 384 M$.
  • éDz󾱱 : Les revenus aux États-Unis ont chuté de 8 % en glissement annuel à 113,1 M$ ; Royaume-Uni +5 % ; autres marchés internationaux +44 % grâce à la vigueur du CPaaS.
  • Perspectives et risques : La direction cite l’incertitude macroéconomique, la perte de clients et l’effet de levier (prêt à terme + 202 M$ de convertibles) comme principaux freins ; 83 % des 755 M$ de RPO devraient se convertir en revenus dans les 24 mois.

Le trimestre montre des premiers signes de maîtrise des coûts et de refinancement de la dette, mais la croissance du chiffre d'affaires reste modérée et la compression des marges dans la prestation de services mérite une surveillance continue.

8x8, Inc. (EGHT) Q1 FY26 10-Q Highlights (Quartal zum 30. Juni 2025):

  • Umsatz: 181,4 Mio. USD (+1,8% gegenüber Vorjahr). Serviceumsatz stieg um 2,0 % auf 176,3 Mio. USD; Nutzungswachstum kompensierte moderaten Abo-Rückgang.
  • ʰǴھٲä: GAAP-Bruttomarge 66,4 % (-150 Basispunkte gegenüber Vorjahr). Betriebsergebnis drehte von einem Verlust von 1,4 Mio. USD zu einem Gewinn von 0,6 Mio. USD. Nettoverlust verringerte sich auf 4,3 Mio. USD (-0,03 EPS) gegenüber 10,3 Mio. (-0,08 EPS).
  • Kostendisziplin: F&E um 11,7 % gesenkt; Verwaltung unverändert; Vertrieb & Marketing auf +1,6 % begrenzt. Zinsaufwand sank um 60 % nach Refinanzierung des 2022er Terminkredits mit günstigerem 2024er Kredit.
  • Barmittel & Liquidität: Zahlungsmittel und Zahlungsmitteläquivalente 81,3 Mio. USD (-6,7 Mio. Q-o-Q). Operativer Cashflow positiv mit 11,9 Mio.; 15 Mio. Tilgung des Terminkredits vorzeitig und 1,8 Mio. Aktienrückkäufe.
  • Bilanz: Gesamtvermögen 684,3 Mio.; Eigenkapital verbesserte sich auf 128,2 Mio. (von 122,2 Mio. zum 31. März 2025). Nettoverschuldung (Barmittel minus Terminkredit & Wandelanleihen) ca. 384 Mio.
  • Geographie: US-Umsatz fiel um 8 % auf 113,1 Mio.; UK +5 %; Sonstige International +44 % dank Stärke im CPaaS-Bereich.
  • Ausblick & Risiken: Management nennt makroökonomische Unsicherheiten, Kundenabwanderung und Verschuldung (Terminkredit + 202 Mio. Wandelanleihen) als wesentliche Herausforderungen; 83 % der 755 Mio. RPO sollen innerhalb von 24 Monaten in Umsatz umgewandelt werden.

Das Quartal zeigt erste Fortschritte bei Kostenkontrolle und Schuldenrefinanzierung, aber das Umsatzwachstum bleibt moderat, und die Margenkompression bei der Serviceerbringung sollte weiterhin beobachtet werden.

false 0001770121 0001770121 2025-08-06 2025-08-06
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 6, 2025

 

 

SANA BIOTECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-39941   83-1381173

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification Number)

188 East Blaine Street, Suite 400

Seattle, Washington 98102

(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code: (206) 701-7914

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange
on which registered

Common Stock, $0.0001 par value per share   SANA   The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

 
 


Item 2.02

Results of Operations and Financial Condition.

The information set forth in Item 8.01 under the caption “Certain Preliminary Financial Information (Unaudited)” is incorporated into this Item 2.02 by reference.

 

Item 8.01

Other Events.

Certain Preliminary Financial Information (Unaudited)

Sana Biotechnology, Inc. (the “Company”) reports that it estimates its cash, cash equivalents, and marketable securities as of July 31, 2025 were approximately $90.1 million.

Additionally, as a result of changes in the Company’s business plans and intention to pursue potential subleases for the Company’s Bothell, Washington and Seattle, Washington facilities, as well as the Company’s decision to suspend further build-out of internal manufacturing capabilities in the near-term at the facility in Bothell due to increased availability of manufacturing capacity at third-party contract development and manufacturing organizations for cell and gene therapy products, as well as progress in understanding the Company’s near-term manufacturing needs, and other factors, the Company determined that a triggering event occurred and performed an impairment analysis in the second quarter of 2025. As of March 31, 2025, leasehold improvements, construction in progress, and operating lease right-of-use assets were $33.3 million, $40.4 million, and $54.8 million, respectively. Based upon preliminary estimates and information available to the Company as of the date of this Current Report on Form 8-K (this “Report”), the Company expects to recognize non-cash impairment losses of approximately $40.0 million to $45.0 million related to the Bothell and Seattle facilities in the month ended May 31, 2025.

These estimates of the Company’s cash, cash equivalents, and marketable securities as of July 31, 2025 and the non-cash impairment losses for the month ended May 31, 2025 are preliminary, have not been audited, are based on information available to the Company as of the filing of this Report, and are subject to change. Additional information and disclosure would be required for a more complete understanding of the Company’s financial position as of July 31, 2025 and for the month ended May 31, 2025. The Company’s independent registered public accounting firm has not audited, reviewed, or performed any procedures with respect to this preliminary information and, accordingly, does not express an opinion or any other form of assurance about it.

Between April 1, 2025 and the date of this Report, the Company sold an aggregate of 7,441,376 shares of its common stock pursuant to its sales agreement dated May 8, 2025 with TD Securities (USA) LLC, as sales agent, in “at-the-market” offerings, for net proceeds of $29.1 million.

Clinical Updates

In June 2025, the Company announced positive six-month results from the UP421 investigator-sponsored trial demonstrating that all primary and secondary endpoints were met. Results of the study through six months after cell transplantation demonstrate the survival and function of pancreatic beta cells as measured by the presence of circulating C-peptide, a biomarker indicating that transplanted beta cells are producing insulin. C-peptide levels also increase with a mixed meal tolerance test during testing at these timepoints, consistent with insulin secretion in response to a meal. 12-week PET-MRI scanning also demonstrated islet cells at the transplant site, a forearm muscle. The study identified no safety issues, and the hypoimmune platform technology (HIP)-modified islet cells evaded immune detection. The trial continues to evaluate safety, persistence, and function of the transplanted cells. On August 4, 2025, the New England Journal of Medicine published a journal article titled “Survival of Transplanted Allogeneic Beta Cells with No Immunosuppression,” which discusses the 12-week results of the trial. In June 2025, the six-month results of the trial were presented at the 85th Annual American Diabetes Association (ADA) Scientific Sessions. The Company and its collaborators at Uppsala University Hospital expect to report additional data from the study, including longer-term follow-up, as the year progresses. In addition, the Company is continuing pre-clinical development of SC451, and a recent FDA INTERACT meeting increases the Company’s confidence in moving forward with its HIP-edited master cell bank for good manufacturing practices (GMP) manufacturing and its non-clinical testing plan.

Personnel Update

Sonja Schrepfer, MD, PhD, the Company’s Senior Vice President and Head of the Hypoimmune Platform, has resigned as an employee to pursue other opportunities.


Cautionary Note Regarding Forward-Looking Statements

This Report contains forward-looking statements, including statements about the Company’s preliminary estimates of cash, cash equivalents, and marketable securities as of July 31, 2025 and non-cash impairment losses for the month ended May 31, 2025, the Company’s intention to pursue potential subleases for the Bothell, Washington and Seattle, Washington facilities, the Company’s beliefs relating to its observations of data from the UP421 investigator-sponsored trial as well as expectations regarding the availability and timing of additional clinical data to be generated and reported by the Company, and the impact of the FDA INTERACT meeting and feedback and the ability to move forward with the Company’s HIP-edited master cell bank for GMP manufacturing and non-clinical testing plan for SC451. These forward-looking statements reflect the Company’s views regarding current expectations and projections about future events and conditions and are based on currently available information. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict, including risks related to preliminary financial results, such as the risks that the preliminary financial information reflects information available to the Company only at this time and may differ from actual results, risks and uncertainties associated with discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics and operating as a clinical stage company, including the potential for the Company’s product candidates to cause serious adverse events, the timing, progress and results of the Company’s clinical trials, the potential for any clinical trial results to differ from preclinical, interim, preliminary, topline or expected results, regulatory risks, and the Risk Factors identified in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on 10-K for the year ended December 31, 2024 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025; therefore, the Company’s actual results could differ materially from those expressed, implied or forecast in any such forward-looking statements. Expressions of future goals and expectations and similar expressions, including “may,” “will,” “should,” “could,” “aims,” “seeks,” “expects,” “plans,” “anticipates,” “intends,” “believes,” “estimates,” “predicts,” “potential,” “targets,” and “continue,” reflecting something other than historical fact are intended to identify forward-looking statements. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. However, readers should carefully review the reports and documents the Company files or furnishes from time to time with the SEC, particularly its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    Sana Biotechnology, Inc.
Date: August 6, 2025     By:  

/s/ Bernard J. Cassidy

            Bernard J. Cassidy
            Executive Vice President and General Counsel
Sana Biotechnology, Inc.

NASDAQ:SANA

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960.87M
205.59M
8.47%
87.05%
15.46%
Biotechnology
Biological Products, (no Disgnostic Substances)
United States
SEATTLE