Solaris Energy Infrastructure (NYSE:SEI) Q4 2025 Earnings call February 25, 2026 09:00 AM ET Company ParticipantsAmanda Brock - Co‑CEODavid Arcaro - Executive Director, Equity ResearchDerrick Whitfield - Managing Director & Head of Energy Equity ResearchKyle Ramachandran - PresidentStephen Gengaro - Managing DirectorStephen M. Tompsett - Chief Financial OfficerWilliam A. Zartler - Chairman & Co-CEOYvonne Fletcher - SVP, Finance & Investor RelationsConference Call ParticipantsDerek Podhaizer - Director and S ...

Atlas Energy Solutions (NYSE:AESI) Q4 2025 Earnings call February 24, 2026 10:00 AM ET Speaker11Welcome to Atlas Energy Solutions, Inc. fourth quarter and year-end 2025 earnings conference call. At this time, all participants are on a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone requires operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introd ...

Core Insights - AZIO AI and Envirotech Vehicles, Inc. are executing a scalable AI infrastructure program aimed at supporting real-world compute workloads with purpose-built cooling systems and self-owned power [1][2] - The global market for AI infrastructure is rapidly expanding, measured in tens of billions of dollars annually, driven by the adoption of AI technologies and increasing energy efficiency demands [14][15] Infrastructure Design - AZIO AI's infrastructure is specifically engineered for high-density AI computing, optimizing thermal performance, power efficiency, and operational reliability from inception [3][4] - The integration of cooling and power at the infrastructure level aims to enhance performance predictability and reduce reliance on third-party utilities [4] Power Strategy - The infrastructure employs on-site, behind-the-meter power generation, allowing AZIO AI greater control over costs, uptime, and expansion timelines [5][6] - This power strategy is designed to be repeatable across future sites, facilitating faster deployment as demand increases [6] Deployment and Operations - The initial deployment in Texas utilizes natural gas from oil field sites for continuous power generation, serving as a reference environment for evaluating system performance [7][8] - Insights gained from this deployment will inform future infrastructure designs and operations in various international markets facing similar energy constraints [9][10] Performance Measurement - The system is built to handle sustained computing demands, enabling real-time performance measurement across various operational metrics [11][12] - Data collected from live operations will be used to refine infrastructure design and improve cost efficiency for larger-scale facilities [12] Modular Architecture - AZIO AI's modular design allows for incremental expansion of compute and power capacity while maintaining performance standards [13] - Initial configurations can support approximately 500 kilowatts of compute load, with pathways for scaling to multiple megawatts [13] Market Context - The demand for AI compute and supporting infrastructure is accelerating due to the rise of large language models and enterprise AI initiatives, with significant growth expected in the coming years [14][15] - AZIO AI's integrated approach positions the company to capitalize on this expanding market as deployments scale [15]

Financial Data and Key Metrics Changes - For Q3 2025, the company reported a GAAP net loss of $346.8 million, or $0.84 per basic and diluted share, primarily reflecting early-stage corporate expenses and non-cash items [16][17] - General and administrative expenses totaled $37.8 million, including $24.8 million in share-based compensation [16] - The company ended the quarter with $183 million in cash and cash equivalents, including $99.3 million of restricted cash tied to project financing [18] Business Line Data and Key Metrics Changes - The company remains pre-revenue while advancing Project Matador, expecting to begin generating revenue in 2026 [16] - The first gigawatt of power is expected to generate approximately $1.5 billion of annualized revenue and about $1 billion of net operating income [14][15] Market Data and Key Metrics Changes - The company has secured or placed under letter of intent approximately 2.2 GW of gas-fired generation, including nine industrial turbines [12] - The demand for power is anticipated to increase, with the company expecting to negotiate better terms as time progresses [38] Company Strategy and Development Direction - The company aims to build a hypergrid campus integrating nuclear, natural gas, solar, and storage to serve high-density AI compute loads [12] - The focus is on delivering electrons for artificial intelligence, with a commitment to safety and project management [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the supply chain and labor availability for construction, emphasizing the importance of securing long lead-time items [54][55] - The company is optimistic about its position in the nuclear sector, with strong relationships with key partners like Doosan and Hyundai [79][81] Other Important Information - The company completed its IPO, raising approximately $785 million in gross proceeds, which will fund phase one of Project Matador [19][20] - The company has a 99-year lease with Texas Tech University System, enabling significant site development [10] Q&A Session Summary Question: Clarification on the $150 million advance - Management confirmed that the $150 million advance is a sign of good faith and commitment from the first tenant, indicating serious negotiations [31][34] Question: Next steps with tenant one and other tenants - The next step is to finalize the lease agreement with tenant one, with ongoing discussions with several other potential tenants [35][36] Question: Visibility into the supply chain and labor for 2026 - Management expressed confidence in the supply chain and labor availability, stating that they are actively managing procurement and logistics [45][54] Question: Financing for solar and BESS - The financing for the battery energy storage system (BESS) will be part of the project finance, with ongoing negotiations with tenant one [61] Question: Timeline for nuclear execution and Doosan agreement - Management indicated that they are aggressively procuring long lead-time items and are positioned to be first in the nuclear renaissance in the U.S. [79][82]