The Trump Administration could face an energy dilemma ahead of the midterm elections. The U.S. energy dominance agenda and booming LNG exports – pillars of the Administration’s policy – are boosting domestic natural gas demand and raising American energy bills. U.S. LNG exports are hitting record highs, and are set to continue setting records in the coming months and years as new plants are being commissioned, built, and approved, with the strong backing of the Trump Administration. However, soaring de ...

Financial Data and Key Metrics Changes - In Q4 2025, revenue was $636 million, a decline of 110 basis points year-over-year, but increased 40 basis points when excluding FormSwift, which was a 150 basis point headwind [23] - Total ARR was $2.526 billion, down 190 basis points year-over-year, and down 30 basis points when excluding FormSwift [24] - Average revenue per paying user (ARPU) increased to $139.68 from $139.07 in the prior quarter, primarily due to FX tailwinds and a shift from annual to monthly plans [24] - Gross margin was 80.8%, down 230 basis points year-over-year, while operating margin was 38.2%, up 130 basis points from the year-ago period [25][26] - Unlevered free cash flow was $251 million, or $0.99 per share, up 44% year-over-year [27] Business Line Data and Key Metrics Changes - The core FSS business showed steady growth across 2025, with improvements in funnel quality, pricing, and retention drivers [6] - The individuals business demonstrated growth, indicating that focused innovation can lead to better retention and growth [6] - The introduction of Dash capabilities within Teams plans has shown promising early engagement, with over half of active users returning multiple days per week [9] Market Data and Key Metrics Changes - The company exited Q4 with 18.08 million paying users, a sequential increase of approximately 10,000 users, driven by momentum in the simple plan [24] - The company expects modestly negative net new paying users in Q1 2026, largely due to seasonality and FormSwift headwinds, with flat growth anticipated for the remainder of the year [32] Company Strategy and Development Direction - The company aims to restore revenue growth while focusing on efficiency and improving the core business [4][15] - The strategy includes scaling Dash as a standalone product and integrating AI capabilities into the core FSS offering [10][19] - M&A is viewed as a potential growth lever, with a focus on strategic acquisitions that can expand the product portfolio and contribute to incremental ARR [19][82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the direction of the company, emphasizing the importance of execution and scaling successful initiatives [13][22] - The leadership changes made in late 2024 and early 2025 are expected to drive sustained improvements in retention and growth [17][70] - The company acknowledges the competitive nature of the FSS market but believes there are opportunities for growth through innovation and improved customer experiences [15][17] Other Important Information - The company repurchased approximately 14 million shares in Q4, spending about $415 million, with $1.17 billion remaining under the share repurchase authorization [29] - The company executed subleases in its real estate portfolio, expecting to generate approximately $97 million in total future cash payments [28] Q&A Session Questions and Answers Question: Can you provide quantitative metrics around Dash? - The company is focused on product quality and engagement before scaling up adoption and monetization, with specific metrics to be shared in the future as progress is made [39][41] Question: What metrics can you provide around engagement with Dash? - Early results show good adoption and engagement from core users, with plans to accelerate the rollout of Dash to more users this year [51][52] Question: What drove improvements in retention? - Improvements in retention are attributed to new leadership and enhancements across the customer journey, including better communication of value and product experience [70][71] Question: What are the assumptions for paying user growth in the guidance? - The company expects some seasonality in Q1, with a flat year-over-year growth in net new paying users for the full year, reflecting improvements in retention and customer journey [79]

The trucking and logistics sector hit hard last week on AI disruption fears. Names like RXO, JB Hunt, CH Robinson, and Expediters, all sinking after a new AI platform promised to cut freight inefficiencies and scale without adding staff. So, is this really a technology a threat to the traditional model or a market overreaction.Joining me now is Drew Wilkerson. He is chairman and CEO of RXO. RXO dropped more than 20% last week.The stock has since recovered some ground, but it remains below those pre-elloff l ...

Welcome back to Market on Close. I'm Marley Caden in Chicago alongside Sambatis at the New York Stock Exchange. Some final thoughts on today's session.For me, the US trade deficit came out totaling $91.5% billion for 2025. That was only slightly narrower than the 93.5% billion the year before. Despite our ongoing tariffs, exports rose 6.2% to 3.43% trillion, but imports climbed to 4.33% trillion, pushing the goods deficit.That's the piece that's most impacted by tariff policy to a record $1.24% trillion. De ...

Financial Data and Key Metrics Changes - The company reported record revenue of $267 million for Q4 2025, representing a 22% increase from Q3 [12] - Gross margin improved by about 50 basis points to 54.6% from Q3, while operating margins increased to 25.2%, up 410 basis points from the previous quarter [12] - For the full year, revenue reached $1,005 million, also a record for the company [12] Business Line Data and Key Metrics Changes - Advanced packaging and specialty devices generated approximately $145 million in Q4, accounting for slightly more than half of total revenue, with sales from the 2.5D packaging business doubling compared to Q3 [13] - Advanced nodes revenue more than doubled in 2025 to $308 million, driven by growth in both DRAM and logic, which together represent about 75% of the total [14] - Advanced packaging revenue is expected to grow over 30% in 2026, while advanced nodes are projected to grow in the range of 10%-20% [8][10] Market Data and Key Metrics Changes - The semiconductor capital equipment spending is projected to experience a powerful upcycle driven by AI investments, with NVIDIA forecasting a 40% CAGR for global AI infrastructure over the next five years [3] - Analysts project strong wafer fab equipment (WFE) growth in the range of 10%-20% in 2026, contingent on the availability of new clean room space [4] - The company has a backlog that has nearly doubled over the last three months, supporting strong growth expectations [10] Company Strategy and Development Direction - The company is focused on expanding its technology portfolio to meet the insatiable demand for AI, with a volume purchase agreement valued at over $240 million covering metrology demand through 2027 [4][5] - The company is ramping up extended factories to support a $2 billion run rate, indicating confidence in capacity to meet demand [24] - The integration of Semilab is expected to enhance operational discipline and improve scalability and profitability [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong momentum in advanced packaging and advanced nodes, with expectations for revenue in Q1 2026 to be in the range of $275 million-285 million [10][15] - The company anticipates continued margin expansion each quarter in 2026, with gross margin expected to improve by approximately 50 basis points from Q4 levels [16] - Management noted that customer discussions are increasingly constructive, with several extending forecasts into 2027 [4] Other Important Information - The company completed the acquisition of Semilab for $445 million in cash and stock, which is expected to contribute to revenue growth in 2026 [15] - The adoption of the One Big Beautiful Bill Tax Act resulted in cash tax savings of $19 million in 2025 and an estimated $14 million in 2026 [14] Q&A Session Summary Question: Market outlook for the year - Management expects advanced packaging to grow over 30% this year, with broad-based demand across various manufacturers [21] Question: Backlog and capacity for growth - The company is set up to serve a $2 billion run rate, with no significant capacity issues anticipated, though supply chain constraints are being managed [24][25] Question: Expectations for advanced packaging growth - Advanced packaging revenue is expected to be stable throughout the year, with potential upside from the adoption of G5 technology [30] Question: Visibility in advanced nodes growth - Advanced nodes are expected to grow in the range of 10%-20%, with ongoing discussions around volume purchase agreements providing better insight [33] Question: Contribution of Semilab to revenue - Semilab is expected to contribute low hundreds to $110 million in revenue for 2026, with challenges anticipated in the power semiconductor segment [59] Question: Growth rates for CoWoS and HBM inspection businesses - Growth rates for both segments are expected to be relatively similar, with demand for memory expanding [50]

Five9 (NasdaqGM:FIVN) Q4 2025 Earnings call February 19, 2026 04:30 PM ET Company ParticipantsAmit Mathradas - CEOAndy Dignan - PresidentArjun Bhatia - Co-Group Head of Technology, Media, and CommunicationsBryan Lee - CFOClark Wright - Senior Research AssociateMike Burkland - ChairmanPeter Levine - Managing DirectorSamad Samana - Managing DirectorYanni Samoilis - Equity Research AssociateNone - Company RepresentativeConference Call ParticipantsCatharine Trebnick - Senior Research Analyst for Cloud Communica ...

Akamai Technologies (NasdaqGS:AKAM) Q4 2025 Earnings call February 19, 2026 04:30 PM ET Company ParticipantsAidan Daniels - Equity Research AssociateArti Vula - Equity Research AssociateEd McGowan - CFOFatima Boolani - Co-Head of US Software Equity Research and Managing DirectorMark Stoutenberg - Head of Investor RelationsRishi Jaluria - Managing Director of Software Equity ResearchRoger Boyd - Executive DirectorSanjit Singh - Executive DirectorTom Leighton - CEOVijay Homan - Equity Research AssociateConfer ...

A10 Networks Investor Day Summary Company Overview - A10 Networks (NYSE: ATEN) is a provider of secure, high-performance networking solutions for critical infrastructure needs, founded in 2004 and went public in 2014. [5][6] - The company reported full-year 2025 revenue of $290.6 million, adjusted EBITDA of 29.6%, and adjusted GAAP EPS of $0.90. [5][6] Strategic Goals and Performance - A10 aims to align with durable and secular catalysts, focusing on disciplined execution to drive consistent performance. [2] - The company set a "Rule of Forty" framework, targeting a combined growth plus EBITDA percentage of 40, achieving 40.6 in 2025. [7][10] - Revenue growth target was set at 10%-12%, with actual growth of 11% overall and 20% in product revenue. [10] - Security-led revenue reached 72% of total revenue, exceeding the goal of 65%. [10] - Non-GAAP adjusted EBITDA margin was achieved at 29.6%. [10] Industry Dynamics and AI Impact - The data center landscape is evolving with AI, changing traffic patterns, infrastructure requirements, and security considerations. [3][12] - AI workloads are driving exponential increases in east-west traffic, necessitating new infrastructure capabilities. [12][19] - The convergence of performance and security is critical as AI workloads scale, with security becoming inseparable from traffic delivery. [25][36] Infrastructure Challenges - Power consumption is a significant challenge, with AI servers consuming significantly more power than traditional servers, leading to a shift towards liquid-cooled data centers. [41][42] - Security challenges are increasing due to the complexity and scale of AI-driven architectures, requiring advanced monitoring and control mechanisms. [45][46] Customer Solutions and Offerings - A10's solutions are categorized into three core areas: legacy networking, next-generation networking, and security solutions, all unified by a shared architecture. [21][26] - The company is extending its capabilities with AI-driven solutions for predictive performance, traffic management, and security embedded in the data path. [24][25][31] Market Trends and Future Outlook - AI infrastructure is not solely driven by large hyperscalers; there is a growing trend towards sovereign AI and investments in various global markets, including Japan and the Middle East. [91][93] - The demand for low latency and high throughput is critical as AI workloads scale, with organizations actively investing to reduce latency. [34][35] - The attack surface is expanding with AI, necessitating robust security measures to protect against new threats. [35][36] Conclusion - A10 Networks is positioned to capitalize on the evolving data center landscape driven by AI, with a focus on delivering integrated solutions that meet the performance, security, and scalability demands of modern infrastructure. [19][20][28]

All forward-looking statements are made as of February 19, 2026, and reflect our current expectations only. We undertake no obligation to update or revise these statements to conform to actual results or revised expectations, except as required by law. By reviewing this presentation, you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential ...

Core Insights - Amazon.com, Inc. (AMZN) is recognized as a leading consumer marketplace and cloud provider in the current market landscape [1] Group 1 - The focus is on uncovering high-yield investment opportunities for individual investors [1] - The goal is to simplify complex concepts into actionable insights to enhance investment returns [1]