Amplitude (NasdaqCM:AMPL) Q4 2025 Earnings call February 18, 2026 05:00 PM ET Speaker6Good afternoon, everyone, and welcome to Amplitude's fourth quarter and full year 2025 earnings call. I'm John Streppa, Head of Investor Relations, and joining me today are Spenser Skates, CEO and Co-founder of Amplitude, and Andrew Casey, Chief Financial Officer. During today's call, management will make forward-looking statements, including statements regarding our financial outlook for the first quarter and full year 20 ...

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Financial Data and Key Metrics Changes - For Q4, the company reported sales of nearly $1.5 billion, a 10.6% increase year-over-year, or 2.5% on an organic basis [6][10] - Adjusted EBITDA margin was 22.1%, and non-GAAP diluted earnings per share were $4.33, an 8% increase from the prior year [6][11] - For the full year, sales growth exceeded 6%, aligning with long-term expectations, and non-GAAP diluted earnings per share grew by 17% [8][10] Business Line Data and Key Metrics Changes - The connected frontline segment grew by 3.6%, driven by mobile computing, while the asset visibility and automation segment grew by 1.3%, led by printing and supplies [10] - Strong performance was noted in healthcare, manufacturing, and retail/e-commerce markets, while transportation and logistics faced tough comparisons in North America [7][10] Market Data and Key Metrics Changes - Asia Pacific sales increased by 13%, with Japan and India leading the growth, while Latin America saw an 8% increase, particularly in Mexico [10] - EMEA sales grew by 4%, with notable growth in Northern Europe and Germany, while North America experienced a 1% decline due to prior year large order activity [10] Company Strategy and Development Direction - The company is focusing on advancing intelligent operations through acquisitions and enhancing its portfolio in RFID, machine vision, and AI-powered solutions [5][16] - The acquisition of Elo Touch is expected to enhance the modern store experience and expand business opportunities across various sectors [19][20] - The company aims to capitalize on a $35 billion served market, emphasizing the importance of digital connectivity in improving efficiency and customer experience [16][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence entering 2026, supported by a solid backlog and pipeline, with Q1 sales growth guidance of 11%-15% [13][14] - The company anticipates facing industry-wide price increases for memory components starting in Q2 but expects to fully mitigate this headwind [14][15] - Management highlighted ongoing investments in AI solutions and the importance of adapting to customer needs in a rapidly changing environment [17][18] Other Important Information - The company generated over $800 million in free cash flow for the year and repurchased more than $300 million in Q4, with an additional $1 billion share repurchase authorization [8][12] - Adjusted gross margin declined by 50 basis points to 48.2%, primarily due to lower service and software margins, but operational expense leverage improved [11][12] Q&A Session Summary Question: Can you elaborate on the anticipated 2-point headwind from memory costs? - Management confirmed a 2-point gross margin headwind due to memory chip demand and pricing increases, with multiple mitigation strategies in place [30][32] Question: What factors are contributing to the Q1 revenue guidance being above Q4? - Management attributed this to a strong finish in Q4, the addition of Elo, and a general reacceleration of growth across various segments [39][40] Question: How does the company view the impact of pricing on customer behavior? - Management noted that customers are increasingly accepting price increases due to external factors like tariffs and memory costs, while also recognizing the added value in technology [50][51] Question: What is the company's confidence regarding product availability in the second half of the year? - Management expressed confidence in securing product availability through strong supplier relationships and proactive demand shaping [66][69] Question: Can you discuss the performance of the software margins? - Management indicated that service portfolio costs have impacted margins, but improvements are expected as the platform unification efforts conclude [88][90]

Financial Data and Key Metrics Changes - In Q4, the company reported sales of nearly $1.5 billion, a 10.6% increase year-over-year, or 2.5% on an organic basis [6][10] - Adjusted EBITDA margin was 22.1%, and non-GAAP diluted earnings per share were $4.33, an 8% increase from the prior year [6][11] - For the full year, sales growth exceeded 6%, aligning with long-term expectations, and non-GAAP diluted earnings per share grew by 17% [8] Business Line Data and Key Metrics Changes - The connected frontline segment grew 3.6%, driven by mobile computing, while the asset visibility and automation segment grew 1.3%, led by printing and supplies [10] - Strong performance was noted in healthcare, manufacturing, and retail and e-commerce markets, while transportation and logistics faced tough comparisons in North America [7] Market Data and Key Metrics Changes - Asia Pacific sales increased by 13%, with Japan and India leading the growth, while Latin America saw an 8% increase, particularly in Mexico [10] - EMEA sales grew by 4%, with notable growth in Northern Europe and Germany, whereas North America experienced a 1% decline due to prior year large order activity [10] Company Strategy and Development Direction - The company is focusing on advancing intelligent operations through acquisitions and enhancing its portfolio in RFID, machine vision, and AI-powered solutions [5][16] - The acquisition of Elo Touch is expected to enhance the modern store experience and expand business opportunities across various sectors [19] - The company aims to capitalize on a $35 billion served market by improving efficiency and customer experience through its innovative solutions [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence entering 2026, citing a solid backlog and pipeline supporting Q1 sales growth guidance of 11%-15% [13] - The company anticipates facing industry-wide price increases for memory components starting in Q2 but expects to fully mitigate this headwind [14] - Management highlighted ongoing investments in AI solutions and a strong demand environment across various sectors [78] Other Important Information - The company generated over $800 million in free cash flow for the year and repurchased more than $300 million in Q4, with an additional $1 billion share repurchase authorization [8][12] - Adjusted gross margin declined by 50 basis points to 48.2%, primarily due to lower service and software margins [11][89] Q&A Session Summary Question: Can you elaborate on the anticipated 2-point headwind from memory costs? - Management confirmed a 2-point gross margin headwind due to memory chip demand and price increases, with multiple mitigation strategies in place [30][32] Question: What is the visibility on the pipeline and revenue guidance for Q1? - Management noted that the strong finish to the previous year and the acquisition of Elo contributed to improved visibility and revenue guidance for Q1 [39][40] Question: How does the company plan to address potential product shortages in the second half of the year? - Management emphasized strong supplier relationships and proactive demand shaping to ensure product availability [66][69] Question: What are customers saying about their spending plans for 2026? - Customers are focused on investing in technology and improving efficiencies, with a solid backlog and pipeline supporting growth [78][79] Question: How is the company addressing the decline in software margins? - Management indicated that higher repair costs are impacting service margins, but improvements are expected as the unified platform transitions are completed [89][90]

Economic Overview - The U.S. economy added 130,000 jobs in January, with the unemployment rate decreasing to 4.3% and average hourly earnings rising by 0.4% month-over-month and 3.7% year-over-year [1][2] - However, a significant revision revealed that the U.S. had nearly 900,000 fewer payroll jobs in the previous year than initially reported, leading to a downward revision of total job growth in 2025 from +584,000 to +181,000 [3] Labor Market Dynamics - Despite the positive job growth, employers announced 108,435 job cuts in January, marking a 118% increase from the previous year and the highest January total since 2009 [4] - Hiring plans were also at a low, with only 5,306 plans announced, down 13% from the same month last year and 49% from December 2025 [4][5] Consumer Sentiment and Spending - Retail sales were flat in December, with a decline in the control group that directly impacts GDP, indicating a mixed consumer picture [6] - Consumer sentiment, as measured by the University of Michigan, fell to 57.3, significantly lower than the previous year's 64.7, highlighting a K-shaped recovery where asset owners benefit while lower-income households struggle [7][8] Structural Changes in the Economy - The labor market is experiencing structural changes, with companies increasingly relying on automation and AI to enhance productivity without necessarily increasing headcount [9][10] - This shift suggests that while job growth appears stable, the nature of work is evolving, potentially leading to fewer human jobs in the future as productivity gains come from technology rather than labor [11][12] Investment Implications - Companies are investing heavily in AI infrastructure, which is reshaping work dynamics and may lead to improved margins and earnings despite subdued hiring [14][17] - The transition towards an AI-driven economy raises concerns about long-term wage growth and consumer demand, as fewer stable incomes could constrain consumption [15][19]

Core Viewpoint - Circle's market team has announced that Moltbook now hosts over 250 AI Agents, indicating a growing ecosystem for AI-driven interactions [1] Group 1: Company Developments - The Coinbase Developer Platform team has expressed commitment to enabling over 2.5 million AI Agents to use USDC for transaction fees through x402 [1] - Moltbook is designed specifically for AI Agents, prohibiting human participation in discussions, which highlights a unique approach to AI interaction [1] Group 2: Industry Trends - Some AI Agents on Moltbook are launching tokens via the Clanker front-end component Clawnch on the Base network, showcasing innovation in the integration of AI and blockchain technology [1]

Core Insights - The company reported a net income of $55.0 million in Q4, down from $57.3 million year-over-year, with a full-year net income of $233.6 million, an increase from $183.3 million in fiscal 2024 [1][7] - Revenue for Q4 was $334 million, reflecting a 25% year-over-year increase, while full-year revenue reached $1.232 billion, up 27% [3][7] - The company is focusing on upmarket expansion, with customers generating over $50K in ARR now representing 41% of total ARR, and those over $500K in ARR growing 74% year-over-year [6][9] Financial Performance - Operating income for Q4 was $41.9 million, with a 13% operating margin, impacted by a 180-basis-point negative foreign exchange effect [2] - Full-year operating income was $175.3 million, representing a 14% operating margin, with a 110-basis-point FX impact [2] - Diluted EPS for Q4 was $1.04, and for the full year, it was $4.40 [1] AI Strategy and Product Development - The company is re-architecting its platform around AI, introducing features like AI Agents, Monday Vibe, and AI Sidekick, with Sidekick monetized as an add-on for most tiers [5][12] - Early usage metrics indicate over 77 million actions powered by Monday Blocks and more than 500,000 user messages processed by Sidekick [12] - Vibe is noted as the fastest product in company history to surpass $1 million in ARR [18] Guidance and Market Outlook - For Q1 fiscal 2026, the company expects revenue between $338 million and $340 million, indicating about 20% year-over-year growth [16] - Full-year 2026 revenue guidance is set at $1.452 billion to $1.462 billion, reflecting 18% to 19% growth, with a non-GAAP operating income forecast of $165 million to $175 million [19] - The company has adopted a cautious outlook for 2026, focusing on execution and acknowledging FX headwinds and choppy demand in no-touch channels [15][16] Cash Flow and Capital Management - The company ended the quarter with $1.5 billion in cash, down from $1.53 billion, reflecting $135 million in share repurchases [23] - Expected free cash flow for 2026 is projected between $275 million and $290 million, with margins impacted by FX headwinds and increased investments [19][22] - The company anticipates a headcount growth in the mid-teens percentage range for fiscal 2026, primarily directed towards sales and R&D [23]

monday.com (NasdaqGS:MNDY) Q4 2025 Earnings call February 09, 2026 08:30 AM ET Company ParticipantsByron Stephen - VP of Investor RelationsCasey George - CROEliran Glazer - CFOEran Zinman - Co-Founder and Co-CEOMark Murphy - Head of Software ResearchRoy Mann - Co-Founder and Co-CEOConference Call ParticipantsAlex Zukin - Managing Director and Senior AnalystAllan Verkhovski - Director and Application Software AnalystArjun Bhatia - Partner and Equity Research AnalystBilly Fitzsimmons - Senior Research Analyst ...

monday.com (NasdaqGS:MNDY) Q4 2025 Earnings call February 09, 2026 08:30 AM ET Company ParticipantsByron Stephen - VP of Investor RelationsCasey George - CROEliran Glazer - CFOEran Zinman - Co-Founder and Co-CEOMark Murphy - Head of Software ResearchRoy Mann - Co-Founder and Co-CEOConference Call ParticipantsAlex Zukin - Managing Director and Senior AnalystAllan Verkhovski - Director and Application Software AnalystArjun Bhatia - Partner and Equity Research AnalystBilly Fitzsimmons - Senior Research Analyst ...

Financial Data and Key Metrics Changes - Revenue grew by 27% year-over-year, reaching $1.232 billion for fiscal year 2025, with Q4 revenue at $334 million, up 25% from the previous year [4][11] - Operating margin for fiscal year 2025 was 14%, with Q4 operating margin at 13% [4][12] - Net income for Q4 was $55 million, down from $57.3 million in Q4 2024, while fiscal year 2025 net income increased to $233.6 million from $183.3 million in fiscal year 2024 [13][14] - Adjusted free cash flow for Q4 was $56.7 million, with a margin of 17%, and for fiscal year 2025, it was $322.7 million, with a margin of 26% [14][15] Business Line Data and Key Metrics Changes - Customers with more than $50,000 in ARR now represent 41% of total ARR, indicating strong expansion within existing accounts [4] - Customers with over 500K in ARR grew by 74% year-over-year, highlighting success in enterprise-scale deployments [5] - The no-touch channels faced challenges in demand, particularly among smaller customers, affecting customer acquisition costs [5] Market Data and Key Metrics Changes - The company noted a choppy demand environment in no-touch channels, particularly impacting smaller customers, which is expected to persist into 2026 [5][20] - The overall net dollar retention (NDR) was stable at 110% for Q4 and is expected to remain flat for fiscal year 2026 [11][20] Company Strategy and Development Direction - The company is transitioning to an AI-powered work execution platform, focusing on AI Agents, AI Workflows, and Monday Vibe to enhance customer engagement and productivity [7][9] - The strategy includes shifting investments towards higher ROI opportunities that drive demand for larger customers [5] - The company aims to lead in the AI landscape, leveraging its platform to embed intelligence deeply across workflows [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's fundamentals despite a challenging macroeconomic environment, emphasizing a disciplined approach to execution [16][20] - The guidance for fiscal year 2026 reflects expected revenue growth of 18%-19%, with operating margins projected at 11%-12% [17] - Management acknowledged the impact of the Israeli shekel's appreciation on margins, contributing to a negative FX impact of 100-200 basis points [12][31] Other Important Information - The company ended Q4 with $1.5 billion in cash and cash equivalents, reflecting a share repurchase of $135 million during the quarter [14] - Employee headcount increased to 3,155, with expectations for mid-teens percentage growth in fiscal year 2026, focusing on sales and R&D investments [14] Q&A Session Summary Question: Growth outlook for 2026 - Management indicated that guidance reflects current conditions without assuming a rebound in performance marketing, focusing on upmarket and enterprise customer expansion [19][20] Question: Sidekick monetization strategy - Sidekick is offered as a paid add-on for pro and below packages, with plans for further monetization as it provides significant value to customers [23] Question: Impact of customer acquisition costs - Management noted that the headwind in performance marketing affects smaller customers, while larger customers continue to show strong momentum [26][28] Question: Guidance for operating margins - The guidance reflects achievable numbers given the current macro environment, with a focus on disciplined investment and efficiency improvements [29][31] Question: Dynamics of the no-touch business - Management acknowledged ongoing choppiness in the no-touch segment, impacting overall performance, particularly among smaller customers [51][56] Question: Customer retention and churn - Gross retention for the $50K+ cohort is at 91%, with management confident in maintaining and improving this figure through product offerings [82]