{"type":"video","version":"1.0","html":"<iframe src=\"https://www.loom.com/embed/174069cad9314b1e92a6ffbad2b9fa56\" frameborder=\"0\" width=\"946\" height=\"709\" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>","height":709,"width":946,"provider_name":"Loom","provider_url":"https://www.loom.com","thumbnail_height":709,"thumbnail_width":946,"thumbnail_url":"https://cdn.loom.com/sessions/thumbnails/174069cad9314b1e92a6ffbad2b9fa56-b07f556c25df691f.gif","duration":159.674,"title":"Gattaca's positive H1 results. Quietly optimistic.","description":"In this video, I discuss Gattaca's results for the first six months of 2025, highlighting improvements in productivity, costs and the conversion ratio. A 71% exposure to contract fees helped mitigate a slight decline in NFI. While the unchanged guidance for 2025 is positive continuing, low levels of confidence cause us to reduce our growth expectations for 2026. Nevertheless, the capitalisation amounts to 64% cash and a low value for the operating business."}