Leadership Changes - AGF Management Limited has announced changes to its senior leadership team to enhance its multi-year growth strategy [1][2] - Judy Goldring, CEO, emphasized the importance of succession planning and talent development within the firm [2][6] New Appointments - Chris Jackson has been appointed as President & Chief Operating Officer, effective immediately, overseeing strategic plans and business priorities [2][3] - David Stonehouse has been appointed interim Chief Investment Officer, leading the investment management team during the search for a new CIO [4] - Ash Lawrence will serve as the Executive Management Team sponsor for AGF Investments' OCIO, providing counsel on corporate strategic planning [5] Company Background - AGF Management Limited, founded in 1957, is an independent asset management firm with a focus on public and private markets [7] - The firm manages $55 billion in total assets and serves over 815,000 investors [9]

Core Insights - TriNet has launched the "TriNet Ascend" program aimed at developing aspiring sales professionals through comprehensive training and real-world experience [1][2][3] - The program is designed to provide structured onboarding, expert mentorship, and hands-on selling experience, focusing on small and medium-sized business (SMB) challenges [2][3] - Applications for the inaugural cohort based in Atlanta are now open, targeting college graduates from diverse academic backgrounds [3] Company Overview - TriNet is a leading provider of human resources solutions for small and medium-sized businesses, offering services such as employee benefits, payroll administration, and compliance consulting [4] - The company's long-term goal is to become the premier provider of HR services for a wide range of SMBs through industry-leading benefits and service delivery [4]

Core Insights - Spectrum has awarded $1.8 million in scholarships through the Spectrum Scholars program since its inception in 2020, supporting 90 students [1][8] - The fifth class of Spectrum Scholars consists of 15 college juniors, each receiving a $20,000 scholarship and participating in a two-year professional development program [1][8] Financial Support and Development - Spectrum Scholars combines financial assistance with mentorship from experienced professionals, networking events, leadership development, and a paid 10-week internship at various corporate offices [2][8] - The program aims to help students build skills, confidence, and connections necessary for launching meaningful careers, many of which are expected to be at Spectrum [3][5] Career Outcomes - A notable success story includes Paola "Lola" Beber Sanches, who transitioned from a Spectrum Scholar to a full-time Brand Marketing Specialist within three years of joining the program [4][5] - The program emphasizes real-world experience and mentorship, which significantly impacts students' career trajectories [5] Commitment to Employee Development - Spectrum offers competitive starting wages, educational benefits, comprehensive health coverage, a robust retirement plan, and an Employee Stock Purchase Plan, reflecting its commitment to developing talent [5][6] - The company maintains a 100% U.S.-based workforce, reinforcing its dedication to local talent development [6]

Core Insights - Leidos is significantly expanding its summer internship program, with nearly 900 interns from 290 colleges and universities participating in 2025 [1][2] - The company has tripled its intern class size since 2016, emphasizing the importance of attracting and retaining top talent for growth [2] - A high percentage of interns, 90%, either receive job offers or return for additional internships, indicating the program's effectiveness [2] Company Overview - Leidos is a leader in the industry and technology sector, serving both government and commercial clients with innovative digital solutions [4] - The company is headquartered in Reston, Virginia, and employs approximately 48,000 people globally [4] - For the fiscal year ending January 3, 2025, Leidos reported annual revenues of around $16.7 billion [4] Internship Program Details - The 2025 intern class includes students from 38 different college majors across 34 states, the U.K., and Australia [3] - The CEO of Leidos, Tom Bell, highlighted the internship program as a crucial investment for the company's future, providing interns with valuable experience and insights into the industry [3] - Interns contribute fresh ideas and energy to existing teams, enhancing the company's operational capabilities [3]

Earnings Supplement Q1 FY2026 June 9, 2025 1 Cautionary Notes Regarding Forward Looking Statements This document includes statements that are, or may be deemed to be, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For all such statements, we claim the protection of the safe harbor for forward-looking statements provided by such sections and the Private Securities Litigation Reform A ...

Financial Data and Key Metrics Changes - Revenue for the fourth quarter was $133.8 million, down approximately 2.8% year-over-year, while total revenue for the full year was $531 million, down approximately 4% year-over-year [35][51] - Adjusted EBITDA for the fourth quarter was $29.9 million, representing 22% of revenue, up from $28.3 million or 21% of revenue one year ago [41] - The company reported a gap net loss of $31.1 million in the fourth quarter, compared to a gap net loss of $245.3 million in the prior year [42] Business Line Data and Key Metrics Changes - Talent Development Solutions (TDS) revenue was $102.8 million in the fourth quarter, up 1% year-over-year, and $405.5 million for the full year, essentially flat to FY24 [31] - Global Knowledge revenue was $30.9 million in the fourth quarter, down approximately 13% year-over-year, with full-year revenue of $125.4 million, down approximately 15% year-over-year [34] Market Data and Key Metrics Changes - The company reported a dollar retention rate (DRR) of 105% for the fourth quarter, bringing the last 12 months DRR to 100% [8][33] - The market served by the company is estimated to be over $400 billion, with a focus on the talent development lifecycle within the enterprise market segment [12][13] Company Strategy and Development Direction - The transformation strategy focuses on two key objectives: fixing the basics and investing to grow, with a targeted shift of up to 20% of resources into the enterprise market segment [10][11] - The company aims to return to growth in FY26 while generating positive free cash flow [16][52] Management's Comments on Operating Environment and Future Outlook - Management is closely monitoring the macroeconomic environment and potential impacts of evolving government policies [7] - The company remains committed to its targets of returning to top-line growth and margin expansion in FY26 [16][52] Other Important Information - The company achieved $45 million in annualized expense reduction in FY25, with 40% to 50% of these savings reinvested back into the business [15][16] - The company generated $17.7 million in cash flow from operations in Q4, resulting in free cash flow of $13.2 million, compared to $5.4 million in the prior year [46] Q&A Session Summary Question: Impact of recent tariff news on customer base - Management noted no material impact from recent tariff news, as they are well-prepared and have been working closely with federal agencies [62][63] Question: Growth outlook for FY26 - The outlook reflects current business operations, acknowledging a fluid environment that may impact future performance [71][72] Question: Margin improvement in EBITDA guidance - Management indicated that while revenue is expected to grow, margin improvement will be modest, with a focus on leveraging earnings growth [74][76] Question: Go-to-market transformation progress - Management reported positive feedback from large deals and ongoing adjustments in sales strategy, with a focus on deploying resources effectively [88][91] Question: Engagement with AI-driven tools - Early indicators show strong customer engagement with AI-driven tools, with a notable percentage hiring professional services for implementation [99][100] Question: Global Knowledge margin contribution decline - Management attributed margin decline to a mix issue and expects improvements as the business stabilizes and product offerings expand [110][112] Question: Durability of dollar retention rate improvements - Management expressed confidence in the durability of the DRR improvements, supported by long-term contracts and ongoing resource shifts [116][121] Question: Seasonality of business and future guidance - Management confirmed that Q1 is typically the smallest quarter, and seasonality patterns are expected to continue into FY26 [124][126]