Operator

Good afternoon, and welcome to Stardust Power Inc.’s Q2 2026 Earnings Call. My name is Tawanda, and I’ll be your operator today. Before this call, Stardust Power issued its financial results for the quarter ended June 30, 2026.

Joining us on today’s call are Stardust Power’s Founder and CEO, Roshan Pujari; and CFO, Uday Devasper. Following their remarks, we will open the call for questions.

Before we begin, Johanna Gonzalez, Stardust Power’s Director of Investor Relations and Communications, will make a brief introductory statement. Ms. Gonzalez, please proceed.

Johanna Gonzalez
Director of Investor Relations & Communications

Thank you, operator, and good afternoon, everyone. Before management begins their formal remarks today, we would like to remind everyone that some statements we’re making today may be considered forward-looking statements under securities laws and involve a number of risks and uncertainties. As a result, we caution you that there are a number of factors, many of which are beyond our control, which could cause actual results, outcomes, and events, and the timings of such results, outcomes, and events, to differ materially from those described in the forward-looking statements.

For more detailed risks, uncertainties, and assumptions related to our forward-looking statements, please see the disclosures in our earnings release and public filings made with the SEC. We disclaim any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

We refer you to our filings with the SEC for detailed disclosures and descriptions of our business, as well as

More than 200,000 magnetic building toys were recalled over an ingestion hazard after two children who swallowed magnets required surgery, according to federal regulators.

About 213,500 Goody King Magnetic Building Cubes and Blocks sets are affected by the recall, the U.S. Consumer Product Safety Commission announced on Thursday.

The building cubes can break or open, allowing the magnets inside to become loose, posing an ingestion hazard for children that could even lead to death.

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“When high-powered magnets are swallowed, the ingested magnets can attract each other, or other metal objects, and become lodged in the digestive system. This can result in perforations, twisting, and/or blockage of the intestines, blood poisoning and death,” the commission said.

Importer Yi Suen Commerce is aware of two children who have ingested magnets from the cubes and needed surgery to remove them.

The company also knows of at least 27 reports of the cubes breaking or opening, causing the magnets to become loose and accessible to children.

Consumers are urged to stop using the recalled magnetic building cubes immediately and to contact Yi Suen Commerce for a full refund.

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The cubes contain small, powerful magnets that allow the cubes to stick together and create 3D designs. The toy sets are available in various themed designs and colors, including forests, dinosaurs and unicorns.

The toy sets are sold online at Amazon from January 2024 through July 2026 for between $17 and $50 in sets of 45, 56, 100, 120, 150 and 300.

Mumbai: General Insurance Corporation of India (GIC Re) has reported a 9.7% year-on-year increase in quarterly profit after tax, helped by an improvement in claims and underwriting performance. For the June quarter, the company on Thursday said profit after tax increased to Rs 1,922 crore compared with Rs 1,752 crore a year earlier.

Gross premium income rose 8.8% to Rs 13,475 crore from Rs 12,388 crore in the year-ago quarter. The incurred claims ratio improved to 85.04% from 90.42%, while underwriting loss narrowed by 20.3% to Rs 724 crore from Rs 908 crore a year earlier.

GIC Re’s combined ratio, which measures claims and expenses against premiums, improved to 104.88% from 106.94%. A ratio above 100% indicates an underwriting loss.

Operator

Hello, everyone. Thank you for joining us, and welcome to CapsoVision’s Second Quarter 2026 Earnings Conference Call. [Operator Instructions]

I will now hand the conference over to Leigh Salvo, Investor Relations. Please go ahead.

Leigh Salvo

Thank you, operator. Good afternoon, everyone, and thank you for joining us for CapsoVision’s Second Quarter 2026 Earnings Call. Joining me today are Johnny Wang, President and Chief Executive Officer; and Senior Vice President of Finance, David Garcia; as well as Doug Atkinson, Senior Vice President of Sales.

Before we begin, please remember that today’s remarks include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in the most recent Form 10-Q filed by us with the SEC. These forward-looking statements speak only as of the date of this call, and we expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Our call today will cover the following agenda. Johnny will begin with an update on CapsoVision’s business, target markets and recent highlights from our pipeline development. Then Dave will walk through a commercial update and recent financial results. After our prepared remarks, we’ll open the call for Johnny, David and

Young people have said a lack of career opportunities are forcing them to think about leaving home.

In a survey by Dr Nicola Brink – Guernsey’s Medical Officer of Health and Director of Public Health – housing, cost of living and transport were big headaches for the future.

Only 27% of the young people Brink heard from said they were confident in staying on the island.

Amber Thomson told BBC Guernsey: “I think that a lot of people kind of tend to go to uni[versity] and then they think, well there’s not that much opportunity for me if I come back.”

The 21-year-old studied environmental science and said she planned to move away for more career opportunities and to “see what else is out there in the world”.

She said: “Guernsey is a really, really tiny place and when you start to look at the world as a whole you realise just how small it is and how little you have seen in life.”

She valued the safety of island life but added: “I think that there’s a real gap between the young people of Guernsey and then the older generations.

“I think that it’s a real shame that we don’t have any sense of community between the two groups at all” and said it would be good to bridge that gap.

Mortgage rates fell for the first time in six weeks, mortgage buyer Freddie Mac said Thursday.

Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage fell to 6.67% from last week’s reading of 6.69%. 

The average rate on a 30-year loan was 6.58% a year ago.

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“Housing affordability has improved from a year ago, and recent increases in purchase and refinance applications suggest that borrowers continue to respond to even modest changes in mortgage rates,” said Sam Khater, Freddie Mac’s chief economist.

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The average rate on a 15-year fixed mortgage fell to 5.96% from last week’s reading of 6.01%.

Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Though mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield hovered around 4.64% as of Thursday afternoon.

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“The 10-year Treasury yield increased only slightly this week as the conflict in Iran has drawn on, putting pressure on oil prices and thereby expectations of future inflation,” said Realtor.com senior economist Joel Berner. “Yesterday’s CPI print came in right in line with expectations, having little impact on the markets. While it’s certainly good news that inflation did not surprise us by coming in hotter than expected, a cooler readout could have given the Federal Reserve more pause on what looks like an upcoming rate hike before the end of 2026 after holding rates late last month.”

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The current conflict in the Middle East has also affected borrowing rates.

“All told, there is little downward pressure on mortgage rates between a Middle East conflict that’s keeping inflation high and a Federal Reserve that’s laser-focused on driving that inflation lower,” Berner said. “Current mortgage rate levels may become quite familiar in the months ahead.”

Company Participants

Charles Beck – Executive VP, CFO, Secretary & Treasurer
Paul Carreiro – CEO, President & Director

Conference Call Participants

Joshua Reilly – Needham & Company, LLC, Research Division
Vijay Homan – Craig-Hallum Capital Group LLC, Research Division
Jeffrey Milton Bernstein – Silverberg Bernstein Capital Management LLC

Presentation