Nordson (NasdaqGS:NDSN) Q1 2026 Earnings call February 19, 2026 08:30 AM ET Speaker9Hello, everyone. Thank you for joining us, and welcome to the Nordson Corporation First Quarter Fiscal Year 2026 conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. To withdraw your question, press star one again. I will now hand the call over to Lara Mahoney. Please go ahead.Speaker6Thank you. Good m ...

Financial Data and Key Metrics Changes - In Q4 2025, Appian's cloud subscriptions revenue grew 18% to $117.0 million, while total revenue increased 22% to $202.9 million [3][22] - For the full year 2025, cloud subscriptions revenue grew 19% to $437.4 million, and total revenue grew 18% to $726.9 million [3][22] - Adjusted EBITDA for Q4 was $19.7 million, and for the full year, it was $76.8 million, reflecting a significant improvement in operational efficiency [3][25] Business Line Data and Key Metrics Changes - Professional services revenue in Q4 was $40.6 million, up 36% compared to Q4 2024 [23] - The number of customers purchasing over $1 million of software grew 50% in 2025, indicating strong demand for high-value transactions [4] Market Data and Key Metrics Changes - Appian's Cloud Net ARR Expansion was 114% in Q4, up from 113% a year ago, driven by strong upsells to existing customers [24] - The commercial North America theater showed the fastest new business growth in over three years, with cloud net new ACV bookings comprising approximately 76% of total net new software bookings in Q4 [21] Company Strategy and Development Direction - Appian's strategy focuses on leveraging AI within its process framework, emphasizing that AI needs a deterministic process to add value [8][9] - The company aims to capitalize on its strong position in the U.S. public sector, highlighted by a significant enterprise agreement with the U.S. Army worth $500 million over 10 years [5][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory for 2026, expecting cloud subscription revenue to grow by 20% in Q1 and 16% for the full year [27][28] - The company plans to invest in sales and engineering capacity while maintaining a focus on operational efficiency and margin expansion [30] Other Important Information - Appian announced a $50 million stock buyback program, marking the beginning of a consistent capital return policy for shareholders [31] - Changes in financial reporting include the introduction of a new metric, Cloud Net ARR Expansion, to provide better insights into financial performance [19][20] Q&A Session Summary Question: Insights on Q1 guidance acceleration - Management noted that Q1 guidance benefits from strong new business in Q4 and a favorable FX tailwind [35] Question: Appian's position in AI and process orchestration - Management highlighted that Appian has been a leader in embedding AI within processes for over a decade, providing a unique governance layer for AI [41] Question: Professional services growth and future expectations - Management indicated that demand for professional services is driven by AI implementation needs and federal sector success, expecting continued growth [66] Question: AI's impact on customer budgets and purchase decisions - Management stated that AI has positively influenced customer relationships, leading to higher-level conversations and increased win rates [49] Question: Army enterprise agreement and future use cases - Management emphasized the significance of the $500 million agreement with the Army, which enhances credibility and opens doors for further government contracts [55]

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Group 1 - Amazon has officially surpassed Walmart to become the world's highest-grossing company for the year, with a revenue of $717 billion compared to Walmart's $713.2 billion, marking a difference of $3.8 billion [1] - Walmart has held the title of global revenue leader for over a decade, primarily driven by its extensive physical store network and "Everyday Low Prices" strategy [1] - Walmart's e-commerce business has recently become profitable as an independent segment, with global e-commerce sales maintaining double-digit growth [1] Group 2 - Amazon's revenue growth is attributed to its diversified business structure, including significant contributions from its cloud computing division AWS, which saw a 20% year-over-year increase in sales, reaching $128.7 billion [1] - The competition between the two giants is evolving, with Walmart partnering with Google to integrate AI into its shopping process and increasing investments in supply chain automation and store renovations [2] - Amazon plans to invest approximately $200 billion in capital expenditures by 2026, focusing on expanding AI infrastructure and data centers [2]

Summary of Cummins Conference Call Company Overview - **Company**: Cummins - **Event**: Barclays Industrial Select Conference Key Industry Insights - **AI Boom and Data Center Demand**: Cummins views itself as a low-risk way to capitalize on the AI boom, particularly in data center-driven demand. There is strong ongoing visibility of demand through the decade, with no signals of a slowdown in the next five years [4][5][6] - **Power Generation Capacity**: Cummins has doubled its power generation capacity in recent years and plans to continue evaluating investments in capacity and product offerings while being cautious about overbuilding [7][8] Financial and Operational Strategies - **Pricing and Margin Protection**: Cummins employs inflation and pricing adjusters in contracts to protect margins on backlog orders, which are subject to various market conditions [9][10] - **Customer Concentration**: The backlog is concentrated among large hyperscalers, but Cummins serves a diverse range of customers beyond just a few major players [11][13] Competitive Landscape - **Market Competition**: The diesel standby genset market is seeing new entrants, but Cummins has not experienced significant market share shifts. The company believes its established capabilities and investments in supply chain give it a competitive edge [19][21][22] Product Development and Innovation - **Battery Backup Systems**: While battery energy storage systems (BESS) are being evaluated, diesel standby gensets remain a preferred solution for data centers due to their effectiveness and cost [28][29] - **New Product Launches**: The launch of new platforms like X10 and HELM will initially compress margins due to higher costs and warranty accruals, but long-term margins are expected to stabilize [35][38] Regulatory Environment - **EPA Regulations**: Cummins anticipates regulations targeting 35 mg NOx emissions, with a focus on maintaining a competitive warranty structure. The company is preparing for potential regulatory changes that could impact product development and market dynamics [46][48][50] Market Demand and Trends - **Heavy-Duty Truck Cycle**: The company is seeing early signs of recovery in the heavy-duty truck market, with expectations of reaching replacement demand levels of 220-240 thousand units annually. However, pre-buy activity ahead of regulatory changes is expected to be modest [57][60][61] Accelera Business Unit - **Zero-Emissions Portfolio**: Cummins is resizing its Accelera business, focusing on hydrogen and e-mobility. The company is adjusting its strategy in hydrogen due to lower-than-expected demand while maintaining a strong position in battery technologies [63][64][65] Investment Strategy - **Organic vs. Inorganic Investments**: Cummins emphasizes a disciplined approach to balancing organic and M&A investments, focusing on long-term profitable growth and credible investment theses [80][81][85] Audience Sentiment - **Stock Sentiment**: Audience responses indicated a positive bias towards Cummins stock, with a significant portion favoring share repurchases as a use of excess cash [68][74] This summary encapsulates the key points discussed during the conference call, highlighting Cummins' strategic positioning, market dynamics, and future outlook.

Financial Data and Key Metrics Changes - In Q4 2025, total revenue increased by 12% year-over-year on an organic basis, excluding cyclical revenue from political campaign messaging [15][16] - For the full year 2025, total revenue reached $754 million, up 10% organically year-over-year, with a non-GAAP gross margin of 58% and adjusted EBITDA of $93 million [16][19] - Free cash flow for 2025 was $57 million, significantly exceeding the cumulative target of $125 million set for 2026 [7][19] Business Line Data and Key Metrics Changes - Voice segment achieved 11% year-over-year growth driven by increased usage and adoption of voice-based AI applications [15][16] - Messaging segment saw an organic growth of 12% year-over-year, primarily due to robust holiday messaging demand [15][16] - The enterprise voice customer category grew by 21% in 2025, supported by a record number of million-dollar-plus deals [16][17] Market Data and Key Metrics Changes - The company noted strong demand across both voice and messaging markets, with healthy execution contributing to confidence in future growth [8][18] - The political campaign contribution to revenue is expected to be approximately 2.5% of cloud communications revenue for 2026, with monitoring ongoing [32][34] Company Strategy and Development Direction - The company is focused on high-margin innovation, particularly in AI voice tools and orchestration software, which are seen as critical for future growth [6][9] - A share repurchase program of up to $80 million was authorized, reflecting confidence in the business model and cash generation capabilities [8][24] - The company aims for a 15%-20% revenue compound annual growth rate through 2026, with specific targets for gross margin, EBITDA margin, and free cash flow [7][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the upward trajectory of the business, despite market dynamics potentially impacting revenue growth [6][7] - The company anticipates continued growth in voice driven by AI applications and large deal activity, projecting a total revenue growth of approximately 16% year-over-year for 2026 [18][19] - Management highlighted the importance of customer relationships and the durability of the business model, with a customer retention rate above 99% [20][21] Other Important Information - The number of third-party conversational AI developers building on the company's platform has quadrupled over the past six months, indicating strong momentum [13] - The company is positioned at the intersection of enterprise communications and AI, with a robust infrastructure to support future innovations [14][26] Q&A Session Summary Question: Insights on Enterprise Voice segment growth - Management acknowledged a slight tick down in Q4 growth rates but expressed optimism for continued healthy growth in 2026 driven by large deals [30] Question: Political contribution to revenue - Management indicated that political campaign contributions are expected to be around 2.5% of cloud communications revenue for 2026, with ongoing monitoring [32][34] Question: Dynamics between cloud communication growth and total revenue growth - Management explained the difference is due to carrier messaging surcharges, which are expected to increase due to recent price hikes from carriers [38][43] Question: Competitive landscape with Twilio - Management noted that recent customer wins were not influenced by Twilio, highlighting competitive advantages over other carriers [46][47] Question: Details on the insurance example and Google AI integration - Management elaborated on the integration of Google AI within a complex Cisco environment, emphasizing the value of their orchestration platform [51] Question: AI's impact on the business and competitive moats - Management described AI as a significant tailwind for the business, with strong infrastructure and customer relationships serving as competitive advantages [53][54] Question: Pipeline for voice AI and its revenue impact - Management indicated that 2026 is expected to be a pivotal year for AI adoption in voice, with significant revenue implications [58][59] Question: Composition of million-dollar-plus deals - Management confirmed that the number of million-dollar-plus deals in 2025 exceeded previous years, driven by an expanded product portfolio and customer demand for AI integration [60][61]

Financial Data and Key Metrics Changes - In-force premium grew to $1.24 billion, up 31% year-over-year, marking nine consecutive quarters of accelerating growth [5][12] - Revenue increased by 53% to $228 million, significantly outpacing in-force premium growth [13] - Gross profit rose 73% year-over-year to a record $111 million, with adjusted gross profit increasing 69% to $112 million [6][13] - Adjusted EBITDA loss narrowed to $5 million, a $19 million improvement year-over-year [6][18] - Positive adjusted free cash flow of $37 million was generated in Q4, marking the second consecutive year of cash reserve growth [6][12] Business Line Data and Key Metrics Changes - Customer growth was 23%, with approximately 550,000 new customers added in 2025, a 35% increase from the prior year [12] - Gross loss ratio reported at 52%, with a favorable prior period development of 9% driven by home and car products [12][13] - Annual dollar retention remained stable at 85% [14] Market Data and Key Metrics Changes - Pet and car insurance segments are experiencing hypergrowth, with in-force premium growth in the 50s and Europe in triple digits [7][21] - The autonomous car insurance product is expected to significantly impact future growth, with pricing based on real-time data from vehicles [10][11] Company Strategy and Development Direction - The company is focused on leveraging AI technologies to enhance go-to-market operations, pricing, and cross-selling capabilities [8][9] - The autonomous insurance initiative, particularly for Lemonade Autonomous Car, is seen as a key growth driver [10] - The company aims to maintain a competitive advantage through its AI-first culture and technology-driven approach [23][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving EBITDA profitability in Q4 2026 and for the full year of 2027 [6][41] - The company is committed to investing in R&D and enhancing its technology infrastructure to support future growth [35][36] - Management highlighted the importance of maintaining a strong LTV to CAC ratio while increasing growth spend [30][32] Other Important Information - The company ended the quarter with approximately $1.1 billion in cash and investments, with $250 million required as regulatory surplus [14] - Operating expenses increased by 24% year-over-year, primarily due to growth spending [14][15] Q&A Session Summary Question: Improvement in marketing efficiency and EBITDA guidance - Management indicated that the guidance reflects a strong track record and that they are optimistic about growth in 2026, with plans to reinvest marketing efficiency into growth initiatives [28][30][32] Question: Adjusted EBITDA profitability target and premium to surplus - Management confirmed expectations for positive EBITDA in Q4 2026 and the full year of 2027, with ample surplus to support ambitious growth rates [38][41][42] Question: Integration of AI tools like ChatGPT - Management stated that while they currently use their own AI for customer interactions, they are open to exploring other AI tools in the future [45][49] Question: Autonomous vehicle insurance product and pricing models - Management confirmed that they offer both pay-per-mile and fixed pricing models, emphasizing the precision of their pricing based on real-time data [50][52] Question: Strategic initiatives and cross-selling - Management highlighted the importance of cross-selling and the potential for multiple policies to drive growth, while also focusing on enhancing underwriting capabilities [55][57]

Core Insights - Broadcom Inc. has launched BroadPeak™, a highly integrated radio digital front-end (DFE) SoC device aimed at enhancing 5G massive MIMO and remote radio head (RRH) applications, setting the stage for next-generation 5G Advanced and 6G wireless infrastructure [1][2] Product Features - BroadPeak features a 5nm CMOS DFE and ADC/DAC blocks on a single chip, achieving up to 40% power reduction compared to existing solutions for massive MIMO and RRHs [1] - The device operates across a frequency range from 400 MHz to 8.5 GHz, making it the first product to meet the technical requirements for both 5G Advanced and 6G standards [2][4] - It supports advanced functionalities such as digital predistortion, carrier aggregation, and gain control, with ADC/DAC sampling rates up to 19.6 GS/s [6] Industry Context - Massive MIMO technology is crucial for enhancing mobile network coverage, capacity, and user throughput, especially as data consumption rises due to AI-driven applications [2] - The introduction of BroadPeak allows mobile operators and OEMs to design high-capacity networks that can support the demands of AI-driven applications and personalized digital experiences [2] Collaboration and Development - Broadcom is collaborating with Altera to ensure interoperability between BroadPeak SoCs and Altera Agilex™ 7 FPGAs, which is essential for the development of next-generation radio platforms [4] - Hitachi GlobalLogic is co-developing the BroadPeak SDK with Broadcom to simplify hardware complexity and ensure that next-gen mMIMO and RRH architectures are ready for deployment at scale [4] Availability - Broadcom has commenced shipping samples of the BroadPeak BCM85021 to early access customers and partners [5]

Bandwidth (NasdaqGS:BAND) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Speaker6Good day, and welcome to the Bandwidth Inc. fourth quarter and full year 2025 earnings 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 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your telephone keypad, and to withdraw your que ...