Alpha Teknova (NasdaqGM:TKNO) Q4 2025 Earnings call February 26, 2026 05:30 PM ET Speaker2Good day, and welcome to Teknova's fourth quarter and full year 2025 financial results call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star one one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, pres ...

Group 1: AI Arms Race and Hyperscalers - The AI arms race is significantly influenced by hyperscalers, which are large cloud operators like Amazon, Microsoft, Google, Meta, and Oracle, controlling 70% of the AI market [2][8][10] - Hyperscalers are expected to spend $700 billion on capital expenditures (capex) this year, a 70% increase year-over-year, raising concerns about the sustainability of this spending [5][11] - The return on investment (ROI) for hyperscalers remains a critical concern, with ongoing questions about their monetization strategies and the gap between investment levels and revenue generation [10][12][19] Group 2: Semiconductor Industry Insights - The semiconductor sector is currently facing tricky sentiment, with concerns about AI's disruptive impact on hardware demand [5][6] - Nvidia is highlighted as a leading player in the AI chip market, boasting a gross margin in the mid-70% range, which is significantly higher than the semiconductor industry average of around 50% [24][26] - The importance of gross margin is emphasized as a key indicator of a company's pricing power and product mix, with Nvidia's strong performance attributed to its early engagement with AI developers [20][30] Group 3: Future of AR Glasses and Wearables - The demand for augmented reality (AR) glasses is projected to grow by 53% this year, with companies like Apple planning to develop AI-focused wearables [32][35] - The technology for AR glasses is now on the cusp of adoption, with advancements in form factor and features making them more appealing to consumers [36][37] - The market for wearables is expected to evolve, with major players like Apple and Meta focusing on AR glasses rather than smaller accessory gadgets [39][40] Group 4: Robotics and AI Integration - Robotics technology is also on the verge of significant adoption, particularly in B2B applications, with humanoid robots being developed for various industrial uses [41][42] - The semiconductor industry is poised to benefit from the robotics sector, as humanoid robots require substantial semiconductor components, estimated at around $500 worth of semiconductors per robot [46] - AI is accelerating the chip design process, potentially reducing product development cycles from 18 months to 2 years to a much shorter timeframe [55][56]

PoolCorp (NasdaqGS:POOL) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsDavid MacGregor - CEO, President and Director of ResearchEthan Roberts - Research AssociateGarik Shmois - Managing DirectorMelanie Hart - CFOPete Arvan - CEORyan Merkel - Co-Group Head–IndustrialsConference Call ParticipantsDaniel Hultberg - Associate AnalystDavid Manthey - Senior Research AnalystSusan Maklari - Senior Equity Research AnalystOperatorGood day, and welcome to the Pool Corporation Fourth Quarter 20 ...

PoolCorp (NasdaqGS:POOL) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Speaker6Good day, and welcome to the Pool Corporation Fourth Quarter 2025 conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star ...

Core Insights - Exact Sciences Corporation (EXAS) reported a net loss of 21 cents per share in Q4 2025, which is higher than the loss of 6 cents in the same quarter last year, aligning with the Zacks Consensus Estimate [1] - For the full year 2025, earnings per share were 7 cents, a significant improvement from the loss of 23 cents in the previous year [1] EXAS Revenues - Q4 consolidated revenues reached $878.4 million, reflecting a 23.1% increase on a reported basis and 23% on a core revenue basis, surpassing the Zacks Consensus Estimate by 2.1% [2] - Full-year 2025 consolidated revenues totaled $3.25 billion, marking a 17.7% increase on a reported basis and 18% on a core revenue basis [2] - Following the earnings announcement, EXAS shares saw a slight increase of 0.07% [2] EXAS Q4 Segments in Detail - Screening revenues, which include laboratory service revenues from Cologuard and PreventionGenetics, amounted to $695.1 million, up 26% year over year [3] - Precision Oncology revenues, including laboratory service revenues from global Oncotype products and therapy selection products, were $183.2 million, reflecting a 14% year-over-year increase and 12% on a core basis [3] EXAS' Margins - Gross profit increased by 25% year over year to $615.8 million, with gross margin expanding by 106 basis points to 70.1% [4] - Research and development expenses rose by 96% year over year to $191.5 million, while sales and marketing expenses increased by 18% to $288.5 million [4] - General and administrative expenses grew by 14.1% year over year to $218 million [4] EXAS' Financial Update - At the end of Q4 2025, Exact Sciences had cash and cash equivalents and marketable securities totaling $964.7 million, down from $1.04 billion at the end of Q4 2024 [6] - Cumulative net cash provided by operating activities was $491.4 million, compared to $210.5 million in the previous year [6] Notable Developments - In Q4, Exact Sciences announced the first clinical study results from its Oncodetect molecular residual disease test in breast cancer, which showed favorable outcomes [10] - The company also reported pivotal clinical validation results from the ALTUS study during the quarter [10] - On November 19, 2025, Exact Sciences entered into a merger agreement with Abbott Laboratories, aiming for a close in Q2 2026, pending regulatory approvals [11]

Core Insights - Baxter International Inc. reported fourth-quarter 2025 adjusted earnings per share (EPS) of 44 cents, missing the Zacks Consensus Estimate of 53 cents by 17% and declining 24% from the previous year [1][7] - On a GAAP basis, the company reported a loss per share of $2.19 compared to a loss of 95 cents in the prior-year quarter [1] Revenue Performance - Revenues from continuing operations totaled $2.97 billion, reflecting an 8% increase on a reported basis and a 3% increase on an operational basis, surpassing the Zacks Consensus Estimate by 6.5% [3] - U.S. sales from continuing operations were $1.55 billion, up 3% on a reported basis but down 1% on an operational basis [3] - International sales from continuing operations reached $1.42 billion, showing a 14% increase on a reported basis and an 8% increase on an operational basis [3] Segment Analysis - Medical Products & Therapies segment sales totaled $1.39 billion, up 6% reported and 4% operationally, driven by strong demand in Infusion Therapies & Technologies and Advanced Surgery products [5] - Infusion Therapies and Technologies sales were $1.06 billion, up 4% year over year reported and 1% operationally [8] - Healthcare Systems and Technologies segment sales were $827 million, up 5% year over year reported and 4% operationally [9] - Pharmaceuticals segment sales were $668 million, up 4% year over year reported and 2% operationally, with growth driven by Drug Compounding [10] Margin and Expense Analysis - Adjusted gross profit was $1.06 billion, down 13.9% year over year, with adjusted gross margin contracting 900 basis points to 35.5% [11] - Adjusted operating income from continuing operations totaled $352 million, down 16% year over year, with adjusted operating margin contracting 340 basis points to 11.8% [12] 2026 Guidance - Baxter expects 2026 sales to be flat to up 1% on a reported basis, with adjusted EPS projected in the range of $1.85-$2.05, below the Zacks Consensus Estimate of $2.33 [13]

Core Insights - CVS Health Corporation reported fourth-quarter 2025 adjusted earnings per share (EPS) of $1.09, an 8.4% decline year over year, but exceeded the Zacks Consensus Estimate by 10.1% [1][9] - The company's total revenues for the fourth quarter rose 8.2% year over year to $105.69 billion, surpassing the Zacks Consensus Estimate by 2.2% [3][9] - CVS Health's full-year adjusted EPS was $6.75, a 24.5% increase from 2024, beating the Zacks Consensus Estimate by 1.5% [2] Revenue Performance - Health Services revenues increased 9% year over year to $51.24 billion, driven by pharmacy drug mix and brand inflation, despite a 7.5% decline in total pharmacy claims processed [4] - Revenues in the Pharmacy & Consumer Wellness segment rose 12.4% year over year to $37.66 billion, primarily due to increased prescription volume and acquisitions, offset by reimbursement pressure [5] - The Health Care Benefits segment reported revenues of $36.29 billion, up 10.1% year over year, largely due to the Government business and the Inflation Reduction Act's impact on Medicare Part D [6] Margin Analysis - The combined cost of products sold and healthcare costs rose 8.6% to $92.13 billion, while gross profit increased 5.2% to $13.57 billion, leading to a gross margin contraction of 37 basis points to 12.8% [7] - Adjusted operating margin contracted 44 basis points to 1.9%, despite an 8.9% rise in total operating expenses to $11.46 billion [7] Liquidity Position - CVS Health ended 2025 with cash and cash equivalents of $8.45 billion, a slight decrease from $8.59 billion at the end of 2024, while long-term debt increased to $64.57 billion from $64.15 billion [8] Future Guidance - CVS Health provided 2026 adjusted EPS guidance in the range of $7.00-$7.20, with the Zacks Consensus Estimate currently at $7.15 [11] Overall Assessment - CVS Health's fourth-quarter earnings and revenues exceeded estimates, with year-over-year revenue growth across all segments. However, higher costs and expenses led to margin contraction and bottom-line pressure [12]

Core Insights - QIAGEN N.V. reported fourth-quarter 2025 adjusted earnings per share (EPS) of 62 cents, consistent with the constant exchange rate (CER), and a year-over-year increase of 1.6% [1][8] - The company's net sales for the fourth quarter reached $540.4 million, reflecting a 3.7% year-over-year growth, and exceeded the Zacks Consensus Estimate by 2.36% [3][8] - For the full year, adjusted EPS was $2.38, marking a 9.2% increase from the previous year [2] Revenue Performance - QIAGEN's total revenues for 2025 amounted to $2.09 billion, up 5.7% from the prior year [3] - Revenue breakdown for Q4 included: - Sample technologies: $175 million, up 8% (5% at CER) [4] - Diagnostic solutions: $201 million, up 3% (1% at CER) [5] - PCR / Nucleic acid amplification: $78 million, down 6% (9% at CER) [5] - Genomics / NGS: $69 million, up 4% (2% at CER) [6] - Other revenues: $18 million, up 20% (19% at CER) [6] Operational Update - Total cost of sales in Q4 increased by 14.8%, leading to an adjusted gross profit decline of 1.9% to $340.2 million [7] - Adjusted gross margin contracted by 359 basis points to 62.9% [7] - Sales and marketing expenses rose by 6.1% to $120.7 million, while R&D expenses decreased by 2.8% to $47.2 million [7] Margin and Income Analysis - Adjusted operating income fell by 11.1% year-over-year to $139.1 million, with the adjusted operating margin contracting by 429 basis points to 25.7% [9] - The company experienced margin pressure due to higher costs, impacting overall profitability [8] Financial Position - QIAGEN ended Q4 2025 with cash, cash equivalents, and short-term investments totaling $1.10 billion, a slight decrease from $1.15 billion at the end of 2024 [10] - Cumulative net cash from operating activities was $654.3 million, down from $673.6 million in the previous year [10] Future Outlook - For 2026, QIAGEN anticipates net sales growth of approximately 5% at CER, with a Zacks Consensus Estimate for revenues at $2.21 billion [11] - Adjusted EPS is projected to be at least $2.50 at CER, with the Zacks Consensus Estimate at $2.62 [11] - For Q1 2026, net sales are expected to rise about 1% at CER from $483 million in the prior year, with an adjusted EPS forecast of at least 54 cents [12]

Financial Data and Key Metrics Changes - Third quarter net sales were $461 million, a 17% increase year-over-year [4] - Consolidated gross margin for the quarter was 44.3%, with an adjusted gross margin of 45.1% [4][13] - Adjusted diluted EPS was $3.04, representing a 30% improvement from $2.34 a year ago [4] - EBITDA increased to $149.6 million, up 22% from $122.6 million last year [4][16] - Free cash flow for the period was $99.1 million, with a conversion rate of 147% [16] Business Line Data and Key Metrics Changes - Aerospace & Defense (A&D) sales increased by 41.5% year-over-year, with commercial aerospace expanding by 21.5% and defense by 86.2% [5][13] - Industrial business grew by 3.1%, with industrial distribution up 1.5% and OEM sector up 7% [10][11] - A&D gross margins were 40.1%, or 42.2% on an adjusted basis, while industrial margins were 47.5% [14] Market Data and Key Metrics Changes - 56% of revenues were from industrial sectors, while 44% came from A&D [5] - The company has exceeded a $2 billion backlog, indicating strong demand across A&D sectors [5] - The semiconductor industry showed significant demand growth, contributing positively to order trends [11] Company Strategy and Development Direction - The company is focused on expanding its A&D revenues by adding machinery and staff to support growth [10] - A five-year plan is in place to enhance production capabilities across existing sites [10] - The company aims to maintain a capital allocation strategy focused on deleveraging and paying off debt [16] Management's Comments on Operating Environment and Future Outlook - Management described the A&D sector's outlook as extremely robust, driven by national defense priorities and commercial aircraft build rates [6][10] - The company expects continued margin improvement in A&D due to increased efficiencies and better pricing on contracts [14] - For the fourth quarter, revenue guidance is set at $495 million to $505 million, representing year-over-year growth of 13.1% to 15.4% [17] Other Important Information - The company paid down an additional $81 million of debt during the third quarter [5][16] - Interest expense decreased by 8.5% year-over-year, reflecting improved leverage and lower interest rates [15] Q&A Session Summary Question: Can you provide details on the industrial business outlook for Q4 and 2027 growth? - Management expects Q4 growth to be similar to Q3, with positive PMI trends indicating a bullish sign for the business [20] Question: What is the composition of the backlog and its relationship with revenue? - Over 90% of the backlog is from the A&D market, with some contracts extending beyond 12-24 months [28] Question: How do you view the growth potential for the missile business relative to commercial aerospace? - Management indicated that while missile business growth is significant, it is not expected to surpass the commercial aircraft business [48] Question: Can you clarify the production rates for Boeing and Airbus programs? - Boeing is increasing production rates, with the 737 aiming for 60 units per month in the near future [57] Question: What is the expected capital expenditure for the upcoming periods? - Capital expenditures are expected to remain around 3.5% of revenue, with modest investments to meet demand [75]

Core Viewpoint - AngioDynamics reported a breakeven adjusted earnings per share for Q2 fiscal 2026, showing improvement from a loss in the previous year, but the stock has underperformed the S&P 500 recently, raising questions about its future performance leading up to the next earnings release [2][1]. Financial Performance - The company achieved pro-forma revenues of $79.4 million in Q2, an 8.8% increase year over year, surpassing the Zacks Consensus Estimate by 4.5% [4]. - U.S. net revenues were $67.6 million, reflecting a 7.8% year-over-year increase, exceeding the estimate of $62.3 million [5]. - Pro-forma international revenues reached $11.8 million, up 8.8% from the previous year, also surpassing projections [5]. Segment Analysis - The Med Tech segment reported pro-forma net sales of $35.7 million, a 13% increase year over year, exceeding the estimate of $32.7 million [6]. - Key drivers included Auryon sales of $16.3 million (up 18.6% year over year) and Mechanical Thrombectomy revenues of $11 million (up 3.9% year over year) [7]. - Pro-forma Med Device revenues totaled $43.8 million, a 5.6% increase from the prior year, also above projections [8]. Margin and Expenses - Pro-forma gross profit increased by 14% to $44.8 million, with gross margin expanding by 170 basis points to 56.4%, surpassing the projected margin of 54.2% [9]. - Sales and marketing expenses rose 4.4% to $26.7 million, while R&D expenses increased by 20.7% to $7.8 million [10]. Cash Position - At the end of Q2 fiscal 2026, AngioDynamics had cash and cash equivalents of $41.6 million, up from $38.8 million at the end of Q1, with no debt on the balance sheet [11]. Guidance and Outlook - The company updated its fiscal 2026 guidance, expecting net sales between $312 million and $314 million, an increase from previous guidance [12]. - Med Tech revenue growth is projected at 14-16%, while Med Device growth is expected to be flat to 1% [13]. - The adjusted loss per share is anticipated to be between 33 cents and 23 cents, with the consensus estimate at a loss of 28 cents [14]. - Estimates have trended downward recently, with a significant revision of -31.25% [15].