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The Westaim Corporation (WED) investor relations material
The Westaim Corporation Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Completed Strategic Transaction with CC Capital on April 3, 2025, transforming from an investment entity to an operating entity with Asset Management and Insurance segments under IFRS reporting standards.
Ceres Life received regulatory approvals in 43 states and DC, planning to launch its MYGA product in September 2025.
Arena added $1.2 billion in new AUM and Programmatic Capital in Q2, with total AUM rising to $4.6 billion at June 30, 2025.
Q2 2025 saw a diluted loss per share of $0.01 and net loss attributable to controlling interests of $0.2 million, both improved from Q2 2024.
Shareholders' equity attributable to controlling interests rose to $686.5 million at Q2 2025 from $497.4 million at Q4 2024.
Financial highlights
Q2 2025 total revenues were $35.2 million, up from $30.4 million in Q2 2024.
Net expenses for Q2 2025 were $37.6 million, compared to $18.2 million in Q2 2024.
Book value per fully diluted share was $20.46 at June 30, 2025, down from $22.88 at December 31, 2024.
Severance expenses of $4.5 million incurred, with expected annualized run-rate savings of $4.0 million.
Cash position at June 30, 2025, was $516.9 million, with $209.9 million in investments.
Outlook and guidance
Asset Management expects incremental revenues as insurance mandates grow and scales.
Identified $5.0 million in annualized run rate savings, targeting $9.0 million total per annum.
Insurance segment not expected to generate material earnings until annuity business scales.
Technology and processes are expected to provide operating leverage as business scales.
Arena realigning global offices and product offerings to support strategic focus.
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