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    Anderson Schock • B. Riley Financial

    Anderson Schock's questions to Inogen Inc (INGN) leadership

    Anderson Schock's questions to Inogen Inc (INGN) leadership • Q2 2025

    Question

    Anderson Schock of B. Riley Financial inquired about the initial market demand for the new VOXIe 5 stationary oxygen concentrator (SOC), its expected revenue contribution for the second half of the year, and the status of reimbursement efforts for the Cemiox airway clearance device.

    Answer

    CEO Kevin Smith explained that VOXIe 5's impact is factored into the yearly guidance, with a more significant contribution expected in Q4. He highlighted that since nearly all long-term oxygen therapy patients use an SOC, the product significantly expands Inogen's addressable market. Regarding Cemiox, Smith confirmed that clinical trials are in progress globally to generate the necessary health economic data to support reimbursement, but he did not provide a specific timeline for completion or commercial launch.

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    Anderson Schock's questions to LifeMD Inc (LFMD) leadership

    Anderson Schock's questions to LifeMD Inc (LFMD) leadership • Q2 2025

    Question

    Anderson Schock from B. Riley Securities asked about the insurance approval rate for GLP-1 patients, the initial progress of the behavioral health launch, and the status of the Medicare fee-for-service initiative.

    Answer

    CEO Justin Schreiber did not provide a specific GLP-1 approval rate but expressed confidence that by year-end, 75% of new patients would be on an insured or affordable self-pay option. He reported the behavioral health offering is live in 50 states and will begin scaling in the next 30-60 days. The Medicare program, while delayed by structural work, is expected to begin scaling in the second half of the year.

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    Anderson Schock's questions to LifeMD Inc (LFMD) leadership • Q4 2024

    Question

    Anderson Schock asked for the current insurance approval rate for branded GLP-1 therapies for new patients and whether existing patients on compounded drugs are successfully switching to branded options. He also questioned LifeMD's plans for compounded GLP-1s given the anticipated FDA crackdown.

    Answer

    Executive Justin Schreiber provided specific metrics on insurance approvals: about 10% of patients get immediate coverage, and for those requiring a prior authorization, the success rate for Zepbound is approximately 60%. He confirmed that the company actively reruns benefits for patients on compounded therapies and is seeing some successfully switch to branded drugs. Regarding the FDA, Schreiber reiterated that LifeMD will follow all legal and regulatory guidance while remaining committed to ensuring patients have an affordable pathway to these medications, which could include personalized compounded drugs that do not violate IP.

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    Anderson Schock's questions to LifeMD Inc (LFMD) leadership • Q1 2024

    Question

    Anderson Schock pointed out that the raised telehealth guidance implies roughly flat sequential revenue and asked if this was due to conservatism or anticipated headwinds. He also asked for an explanation for the 5% decline in WorkSimpli subscribers and the outlook for that business.

    Answer

    CFO Marc Benathen (incorrectly attributed to Justin Schreiber in the transcript) explained the guidance reflects some conservatism and typical seasonality in the RexMD business, which is historically softer in Q2 than Q1, rather than any specific headwinds. Regarding WorkSimpli, he stated there were no challenges; the business is being managed to maximize cash flow, not top-line growth. The subscriber decline is a result of shifting focus to higher-value customers with longer LTVs, which has improved profitability.

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    Anderson Schock's questions to Anika Therapeutics Inc (ANIK) leadership

    Anderson Schock's questions to Anika Therapeutics Inc (ANIK) leadership • Q2 2025

    Question

    Anderson Schock of B. Riley Financial inquired about the drivers for the guided gross margin improvement in the second half of 2025, progress on new OEM partnerships, the expanded market opportunity for Integrity with its new configurations, and the company's confidence in securing FDA approval for HYALOFAST despite missing its primary endpoints.

    Answer

    EVP, CFO & COO Steve Griffin clarified that second-half gross margins are expected to be 58-59%, with confidence stemming from the one-time nature of Q2's manufacturing charges. President & CEO Dr. Cheryl Blanchard stated there was nothing new to report on OEM partnerships but noted CINGAL could fit that channel. She added that new Integrity sizes will better serve an existing $40 million addressable market. Regarding HYALOFAST, she expressed confidence due to its Breakthrough Device designation, statistically significant secondary endpoints that were used for prior FDA approvals, and a robust body of international clinical data.

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    Anderson Schock's questions to Anika Therapeutics Inc (ANIK) leadership • Q1 2025

    Question

    Anderson Schock of Sidoti & Company inquired about the timeline and investment for the Cingal bioequivalence study, the expected OEM revenue trajectory for the year, and the rationale for maintaining commercial revenue guidance despite strong performance.

    Answer

    CEO Dr. Cheryl Blanchard stated the Cingal study is expected to begin by year-end, with further timeline updates to come. CFO Steve Griffin noted the Cingal study costs would impact 2025 EBITDA by about 0.5 points. Griffin explained that the OEM segment's expected sequential improvement is driven by a modest price rebound in Q2, though full-year pricing will be lower. Blanchard added that while Integrity is outperforming, tougher Q2 comps for international OA Pain led them to maintain the full-year commercial guidance.

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    Anderson Schock's questions to Electromed Inc (ELMD) leadership

    Anderson Schock's questions to Electromed Inc (ELMD) leadership • Q3 2025

    Question

    Anderson Schock of B. Riley Securities asked for an update on the implementation progress of the new CRM system and inquired about the measurable impacts of the 'Triple Down on Bronchiectasis' marketing campaign on prescription growth.

    Answer

    President and CEO James Cunniff reported that the new CRM system is on track for a launch in the first quarter of fiscal year 2026, with the sales team eagerly anticipating its deployment. Regarding the marketing campaign, Mr. Cunniff highlighted that the 'Triple Down on Bronchiectasis' landing page has received over 27,000 views. While he noted it's difficult to draw a direct correlation to new prescriptions, he believes the company's strong revenue and referral growth reflect the success of its overall market awareness initiatives.

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