Financial Data and Key Metrics Changes - Overall Total Payment Volume (TPV) grew by 3%, but growth was inconsistent across brands and regions [3][4] - Underlying Profit Before Tax (PBT) fell to just under $290 million, with significant impacts in Q1 and Q4 due to macro conditions [3][4] - The company aims to hold underlying costs flat compared to FY 2025, despite a 3% increase in costs over the last twelve months [5][6] Business Line Data and Key Metrics Changes - Corporate division saw top line growth to $12.3 billion, with a 6% PBT growth excluding Asia [7][8] - Leisure division experienced TPV growth year on year, primarily from lower margin brands, with profit falling due to soft trading conditions [8][9] - Other segments remained flat year on year, with increased profit contributions from operating businesses [9] Market Data and Key Metrics Changes - ANZ and The Americas reported solid profit growth, while EMEA and Asia experienced reductions [3][4] - The UK corporate travel brand underperformed, and Asia faced operational challenges leading to additional provisions [4][5] - The company expects EMEA and Asia to return to more appropriate levels by 2026 [4] Company Strategy and Development Direction - The company is focusing on productivity gains, cost reduction, and targeted investments in technology and AI [5][6][20] - A new Global Business Services division aims to support frontline teams and improve operational efficiency [5][6] - The company is exploring M&A opportunities to expedite growth in specialist businesses [15][16] Management's Comments on Operating Environment and Future Outlook - Management acknowledges a challenging operating environment due to geopolitical tensions and macroeconomic conditions but remains optimistic about medium to long-term growth [2][3] - There are promising signs emerging in key markets, and the company is prepared for a market rebound [23][24] - Management expects a challenging first half of FY 2026 but anticipates a stronger second half [43][44] Other Important Information - The company has undertaken $450 million in capital management initiatives, including debt repayment and share buybacks [9] - Investment in TP Connect increased by $7 million to enhance airline content and new revenue streams [8] - The company is launching a travel retail loyalty program to enhance customer engagement and drive growth [35][36] Q&A Session Summary Question: Can you provide details on the impact of lower overrides in FY 2025 and potential upside for 2026? - Management indicated that lower overrides significantly impacted the leisure business, particularly in the last quarter, and emphasized the importance of growth to achieve higher override tiers [48][52] Question: What are the potential impacts of changes to payment surcharges in Australia? - Management has evaluated the potential impacts and is prepared with various options to mitigate any negative effects [54][57] Question: Can you clarify the outlook for the first half of FY 2026? - Management expects a like-for-like comparison to be relatively flat year on year, with improvements anticipated in Asia [60][62] Question: What should be expected for the other segment's loss in FY 2026? - Management expects the loss to decrease to around $70 million, with improvements anticipated from operating businesses [68][70] Question: How is Corporate Traveler positioned in the UK and Europe? - Management expressed confidence in the UK market, highlighting recent management changes and improvements to the product offering [90][92]

Marc Washbourne – Co-Founder & CEO Nimesh Shah – Chief Financial Officer FY25 Full Year Results Investor Presentation ASX:RDY 27 August 2025 | of a resident | | | | | --- | --- | --- | --- | | 1 | | | 0 | | 1 | 电 | | | | No. of Acres | 小 | 电 | ● | | 1 | ！ | 中 | . | NZ Ministry of Justice // Jan 2025 1 For personal use only Next generation, mission- critical software crafted to closely meet customer needs across human led sectors Customers across Australia, NZ, UK & Europe 5,000+ Global team of 500+ mission- ...

Financial Data and Key Metrics Changes - Total revenues for the second quarter were $148.8 million, up 12% year over year [13] - Subscription revenues were $130.8 million, reflecting a 15% year-over-year increase on a reported basis and 10% organically [13] - Non-GAAP operating income was $30 million, representing 20% of total revenues [16] - The company ended the quarter with $123.2 million in cash and $203.5 million outstanding on its line of credit [17] Business Line Data and Key Metrics Changes - The U.S. Mortgage business saw subscription revenues of $20.9 million, up 22% year over year [14] - Professional services revenues decreased by 2% year over year to $18.1 million [14] - The credit union segment added six new logos and 35 cross-sells in the second quarter [6] Market Data and Key Metrics Changes - Non-U.S. total revenues were $33.5 million, up 22% or 19% in constant currency [15] - Non-U.S. subscription revenues were $27.4 million, up 30% or 27% in constant currency [16] Company Strategy and Development Direction - The company is focused on expanding its presence in EMEA and activating the credit union market [5] - nCino aims to leverage AI and data analytics across its platform to enhance customer experiences and operational efficiency [9] - The transition to platform pricing is proceeding as expected, with approximately 21% of ACV converted to this model [17] Management's Comments on Operating Environment and Future Outlook - Management noted that macroeconomic conditions have improved, leading to increased deal activity and sales opportunities [29] - The company expects total revenues for fiscal 2026 to be between $585 million and $589 million, representing growth of approximately 9% at the midpoint [23] - Management expressed confidence in meeting or exceeding the ACV outlook for the year, supported by strong pipeline activity [58] Other Important Information - The company repurchased approximately 750,000 shares at an average price of $26.89 per share during the quarter [17] - The AI strategy, particularly the Banking Advisor, is expected to be transformative for financial services, with over 80 customers already purchasing this technology [9] Q&A Session Summary Question: What are the drivers behind the revenue strength and sustainability? - Management attributed the revenue strength to solid execution and a supportive macro environment, noting increased deal activity [28][29] Question: How is the AI strategy performing, particularly with Banking Advisor? - The AI strategy is resonating well with customers, contributing to wins, and the rollout of agentic workflows is anticipated to enhance this momentum [31][34] Question: What is the status of platform pricing and its impact? - The transition to platform pricing is on track, with expected price uplifts around 10% for renewals, and the largest cohort of migrations will occur in the fourth quarter [40][41] Question: How is the credit union market performing? - The company has seen strong performance in the credit union segment, validating the investment in this area, with opportunities for cross-selling [48][50] Question: What is the outlook for mortgage revenues? - The company expects mortgage subscription revenues to grow approximately 5% for fiscal 2026, up from prior guidance of flat year-over-year [19] Question: How is the international pipeline developing? - There are signs of reacceleration in the international pipeline, particularly in Continental Europe, with strong activity and deal sizes being tracked closely [92][94]

Company Overview - DeFi Development Corp. (Nasdaq: DFDV) has a treasury policy that allocates its principal holding to Solana (SOL), providing investors with direct economic exposure to SOL while participating in the growth of the Solana ecosystem [3] - The company operates its own validator infrastructure, generating staking rewards and fees from delegated stake, and is engaged in decentralized finance (DeFi) opportunities [3] - DeFi Development Corp. serves over one million web users annually, including property owners, developers, and various lenders, applying for billions of dollars in debt financing each year [5] Recent Developments - The company announced a live X Spaces event scheduled for August 27, 2025, at 4:30 PM ET, featuring insights into a recently announced $125 million equity raise [1][7] - The event will cover the structure of the equity raise, the rationale behind it, intended use of proceeds, and the company's role in expanding Solana adoption [7] Business Model - The company's data and software offerings are primarily provided on a subscription basis as software as a service (SaaS), catering to the commercial real estate industry [4][5] - DeFi Development Corp. connects stakeholders in the commercial real estate ecosystem, providing data and software subscriptions along with value-added services [4]

Core Insights - Centric PLM™ has been recognized in Gartner's 2025 Market Guide for PLM in the Food and Beverage sector, highlighting its relevance and effectiveness in addressing industry-specific challenges [2][9] - The food and beverage industry faces increasing pressures related to management complexity, compliance, and supply chain stability, necessitating specialized PLM solutions [3][4] - Traditional PLM systems are inadequate for the unique demands of the fast-moving consumer goods sector, which requires agility, shorter time-to-market, and robust compliance tracking [9] Industry Challenges - Food manufacturers are under pressure to manage complex product data and ensure compliance with evolving regulations, which can lead to product recalls if not handled properly [4][11] - Many manufacturers still rely on disparate software applications to manage different aspects of the PLM value chain, leading to inefficiencies and increased error rates [9] Centric PLM Features - Centric PLM integrates and simplifies product data management, reducing errors and accelerating time-to-market for compliant products [5][11] - Key functionalities include specifications and formula management, version control, lifecycle workflow management, ingredient data management, and real-time supplier collaboration [10] - Advanced features such as AI-driven formula matching and seamless integration with ERP, LIMS, and MES systems enhance operational efficiency [10] Strategic Importance - The solution enables brands and manufacturers to create a unified digital platform for centralized product data management, facilitating cross-team collaboration and real-time visibility [11] - Centric Software's CEO emphasizes the importance of Centric PLM in helping companies navigate product complexity and regulatory challenges through digital transformation and innovation [11]

Investor Presentation Second Quarter 2025 Safe Harbor Statement The Company's consolidated operating results are affected by a wide variety of factors that could materially and adversely affect revenues and profitability, including the risk factors described in Item 1A of our 2024 Annual Report on Form 10-K. As a result of these and other factors, the Company may experience material fluctuations in future operating results on a quarterly or annual basis, which could materially and adversely affect its busin ...

Summary of ASML Holding (ASML.AS) Conference Call Company Overview - **Company**: ASML Holding (ASML.AS) - **Industry**: European Semiconductors, Hardware and Gaming Tech Key Takeaways 1. **AI as a Growth Driver**: AI is expected to remain a strong driver for the semiconductor industry, necessitating more advanced semiconductors. This includes a demand for greater processing density and improvements in energy efficiency, with AI projected to be a significant positive driver by 2026 [3][4][5] 2. **Positive Industry Developments**: Despite macroeconomic uncertainties, developments post-2Q results could be favorable. Notably, Samsung's substantial deal to sell semiconductors to Tesla may boost lithography demand and mitigate risks associated with AI chip production concentration at TSMC. Additionally, the US government's approval of H20 chip shipments to China could further support demand [3][4][5] 3. **Strong Demand from China**: ASML's revenue exposure to China is above 25%, exceeding its long-term average of 20%. Demand remains robust, particularly in domestic production sectors like automotive. Any normalization in demand is expected to be gradual, with memory products potentially driving growth in this region [3][4][5] 4. **Lithography Intensity Confidence**: ASML expresses confidence in increasing lithography layer growth, especially following the transition to 2nm technology. The company anticipates an inflection in litho intensity as technology transition risks diminish [4][5] 5. **Chinese EUV Alternatives**: The latest Chinese alternative to EUV technology, which utilizes laser-induced discharge plasma, is deemed unscalable and unlikely to compete effectively with ASML's offerings. ASML maintains a multi-decade leadership position in EUV technology, supported by its expertise in wafer stages and optical know-how [4][5] Financial Outlook - **Rating**: Buy - **12-Month Price Target**: €935, representing a 47.4% upside from the current price of €634.50 [5][6] - **Market Capitalization**: €246.4 billion / $286.2 billion - **Revenue Forecasts**: Expected revenues for 2026 are projected at €39.93 billion [6] Key Risks - Potential risks include delays in EUV technology, cyclicality in capital expenditures, and unfavorable shifts in market share [5][6]

Core Insights - Amazon's cloud business, AWS, is losing market share to Microsoft Azure and Google Cloud, which are growing at faster rates [3][6][14] - AWS revenue growth was 17% year-over-year in Q2, significantly slower than Microsoft Azure's 39% and Google Cloud's 32% [6][18] - Despite AWS's slowing growth, Amazon's overall revenue and market cap remain strong, with a total revenue of $670 billion and a market cap of $2.4 trillion [4][10] AWS and E-commerce Synergy - AWS generates most of Amazon's profit, supporting its e-commerce business through AI capabilities [2][15] - The integration of AWS with Amazon's other ventures, such as Project Kuiper, enhances its competitive position [17] Competitive Landscape - Microsoft leverages its established software products to drive Azure growth, while Google is capitalizing on its advanced AI capabilities [8][9] - Amazon's revenue advantage allows for significant R&D spending, which is crucial for attracting top talent in AI [12][19] Long-term Growth Potential - Amazon's non-retail businesses, which have high margins, have contributed to a 31% year-over-year growth in total operating profit [18] - The company's substantial R&D investment, nearly $100 billion annually, positions it for potential upside surprises in the long term [19]

Core Viewpoint - Market concerns regarding artificial intelligence (AI) as a threat to Workday's business model have negatively impacted its stock price, despite the company reporting better-than-expected fiscal results [1][2] Company Performance - Workday's Q2 revenue increased nearly 13% year over year to $2.35 billion, with subscription revenue climbing 14% to $2.17 billion, and adjusted earnings per share (EPS) rising 26% to $2.21, surpassing analyst expectations [8] - The company's 12-month subscription revenue backlog grew by 16% to $7.91 billion, while total subscription revenue backlog rose nearly 18% to $25.37 billion [8] - Workday ended the quarter with $8.19 billion in cash and marketable securities, $3 billion in debt, and generated operating cash flow of $616 million and free cash flow of $588 million [10] AI Integration - Over 75% of sales to new customers included an AI solution, and 30% of sales to existing customers did, leading to a more than doubling of new net annual contract value from AI products year over year [5] - Workday's primary AI platform, Workday Illuminate, is designed to provide customers with a comprehensive human resource and finance database, along with AI agents for various tasks [6] Strategic Moves - Workday announced its agreement to acquire Paradox, an AI company aimed at simplifying the hiring process, as part of its strategy to enhance its AI capabilities [7] Market Outlook - Management raised its fiscal 2026 guidance slightly, expecting revenue growth of 13% to approximately $9.515 billion and subscription revenue growth of about 14% to $8.815 billion, with the new figures reflecting contributions from the Paradox acquisition [11] - CEO Carl Eschenbach characterized market fears about AI disrupting seat-based SaaS models as "completely overblown," attributing slower customer headcount growth to previous over-hiring rather than AI's impact [12] Valuation - Workday's stock trades at a forward price-to-sales (P/S) ratio of 6.2 and a forward price-to-earnings (P/E) ratio of 25, which is considered attractive given projected mid-teens percentage revenue growth and strong earnings growth [15]

Financial Data and Key Metrics Changes - Revenue increased by 21% to $49.4 million, exceeding guidance of 15-20% [6][8] - Underlying EBITDA margin decreased slightly to 24% from 25% in the previous year, while underlying EBITDA rose by 17% [8][25] - Reported EBITDA surged by 39% to $10.6 million, and reported EPS increased by 37% to $1.87 per share [8][20] - Net profit after tax and amortization grew by 42% to $5.9 million, with net profit after tax up 59% [8][20] - Total dividends for the year increased by 4% to $1.66 per share, with a final dividend up 5% to $0.89 per share [9][29] Business Line Data and Key Metrics Changes - Wealth segment revenue grew by 38%, while business segment revenue increased by 7% [20][22] - Self-Managed Superannuation Fund (SMSF) revenue rose by 19%, recovering from a decline in the previous year [22] - Accounting division revenue increased by 11%, while capital revenue remained flat [22] Market Data and Key Metrics Changes - Funds under management increased by 58%, partly due to the Lincoln acquisition, adding $600 million [9][10] - The number of high net worth investors grew by 3,300, significantly expanding the client base [10][16] Company Strategy and Development Direction - The company aims to achieve $100 million in revenue by FY 2028 to FY 2030, with a focus on both organic and acquisition-driven growth [34][63] - Emphasis on technology integration, including a full technology review and implementation of a group-wide CRM system [14][60] - The strategy includes deep integration of acquired businesses to enhance service offerings and client engagement [64][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving growth targets, citing a strong pipeline of acquisition opportunities and a favorable operating environment [34][47] - The company is focused on addressing working capital issues, with a goal to reduce excess tied-up capital [28][72] - Management highlighted the importance of a balanced approach to capital allocation, ensuring continued dividend payments while pursuing growth [57][72] Other Important Information - The company has maintained a modest debt level at 1.3 times underlying EBITDA, indicating strong financial health [8][27] - A significant focus on intergenerational wealth transfer and alternative asset management as key growth areas [17][18] Q&A Session Summary Question: How confident is the company in achieving the $100 million revenue target? - Management expressed strong confidence based on past performance and current growth trajectory, with organic growth settling between 6-10% and two-thirds of growth expected from acquisitions [34][36] Question: Can you provide a breakdown of organic and inorganic growth? - Revenue growth was 21%, with approximately 7% from organic growth and 14% from acquisitions, including a two-month contribution from Lincoln indicators [37][39] Question: What were the key drivers behind the reported EBITDA increase? - The reduction in non-recurring items significantly contributed to the improvement, with non-recurring costs halving compared to the previous year [41][44] Question: How are the recent acquisitions performing? - Acquisitions are performing well, with strong integration and cross-referrals contributing to overall business growth [45][46] Question: What is the outlook for FY '26? - Guidance will be provided at the AGM, but management anticipates continued growth and opportunities in the market [47][48] Question: How does the company plan to fund future acquisitions? - The company has a Westpac facility in place and typically issues 20-50% of acquisition consideration in shares, maintaining a business owner mindset [54][55] Question: How does the company view AI's impact on revenue streams? - AI is seen as both an opportunity and a challenge, with a focus on enhancing client service through technology while maintaining a human touch [59][61]