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    Jon Hickman • Ladenburg Thalmann & Co. Inc.

    Jon Hickman's questions to CleanSpark Inc (CLSK) leadership

    Jon Hickman's questions to CleanSpark Inc (CLSK) leadership • Q3 2025

    Question

    Jon Hickman from Ladenburg Thalmann asked about the current trend in Bitcoin transaction fees as a percentage of the block reward and inquired about the secondary market for older miners as the company upgrades its fleet.

    Answer

    CFO Gary Vecchiarelli noted that transaction fees have been relatively low, around 1-3% of the block reward, but represent pure upside with no incremental cost. President and CEO Zachary Bradford described the secondary market for older miners as 'very robust,' partly due to tariffs making domestically sourced machines more attractive, and confirmed they consistently extract value from retired assets.

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    Jon Hickman's questions to Byrna Technologies Inc (BYRN) leadership

    Jon Hickman's questions to Byrna Technologies Inc (BYRN) leadership • Q2 2025

    Question

    Jon Hickman requested elaboration on the new recurring revenue model for the CL, asking if it was an insurance-like program. He also asked about the impact of non-recurring CL launch costs on future operating expenses and questioned why the Scottsdale retail store was performing so exceptionally well.

    Answer

    CFO Lauri Kearnes confirmed the initial 'Byrna Care' offering is an insurance-style protection plan. CEO Bryan Ganz added that a more significant, future recurring revenue stream will be a SaaS model based on a chipset in the launcher for smart features. Kearnes stated that while there were one-time launch costs, Q3 OpEx would likely remain steady due to increased marketing spend. Ganz attributed the Scottsdale store's success to its high-traffic location, favorable demographics, and strong sales team, which validates the retail model's potential.

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    Jon Hickman's questions to Byrna Technologies Inc (BYRN) leadership • Q1 2025

    Question

    Jon Hickman asked about the MSRP for the new CL launcher compared to existing products, the margin profile of the new 61-caliber ammunition, the available colors for the new launcher, and whether it uses the same CO2 cartridge.

    Answer

    CFO Lauri Kearnes provided the MSRPs: $549.99 for the new CL, versus $479.99 for the LE and $379.99 for the SD. Executive Bryan Ganz explained that while ammo production costs are similar, Byrna will capture 100% of the 61-caliber ammo sales for the foreseeable future, as it is a proprietary size. He also confirmed the CL will launch in orange and black, with more customizable colors to come, and that it uses the same 8-gram CO2 cartridge as the SD model.

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    Jon Hickman's questions to Byrna Technologies Inc (BYRN) leadership • Q4 2024

    Question

    Jon Hickman questioned the operational details of the Sportsman's Warehouse partnership, asking if the store-within-a-store locations would be staffed by Byrna or Sportsman's employees, the build-out cost for these locations, and the range of products they would carry.

    Answer

    Executive Bryan Ganz clarified that the locations will be staffed by Sportsman's Warehouse employees who receive extensive training from Byrna, which he described as a key benefit of the partnership. He confirmed Byrna will support the locations with personnel for demo days. CFO Lauri Kearnes specified that the build-out cost is minimal for Byrna, at only $7,500 per store, as they are splitting an estimated $15,000 total cost with Sportsman's. Bryan Ganz added that the stores are expected to carry a full representative range of Byrna's products as they will anchor Sportsman's new personal self-defense division.

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    Jon Hickman's questions to Blade Air Mobility Inc (BLDE) leadership

    Jon Hickman's questions to Blade Air Mobility Inc (BLDE) leadership • Q1 2025

    Question

    Jon Hickman asked for an update on the timing for eVTOL aircraft deployment, its impact on route expansion, and the operational status of the Newport, New Jersey heliport.

    Answer

    CEO Robert Wiesenthal stated that while the timeline is a moving target, he expects eVTOL deployment in late 2025 or early 2026. He emphasized that their quiet, emission-free nature is the key to unlocking new landing zones and routes. Regarding the Newport heliport, he described it as a strategic, low-cost asset held for future optionality, primarily used for charter flights currently, as part of a broader infrastructure strategy.

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    Jon Hickman's questions to Blade Air Mobility Inc (BLDE) leadership • Q3 2024

    Question

    Jon Hickman asked for a reiteration of the company's Q4 revenue guidance for the passenger segment.

    Answer

    CEO Rob Wiesenthal repeated the Q4 passenger revenue guidance, stating the company expects approximately $13 million. This figure reflects the discontinuation of the Canadian business, roughly flat year-over-year revenue for 'Jet and Other,' and continued single-digit year-over-year growth in the short-distance business.

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