Vertex (VERX) FY Conference Summary Company Overview - Vertex has been operating for 47 years, initially focusing on sales and use tax in the US and evolving to handle all indirect taxes globally, including VAT [3][4] - The company serves approximately 60% of the Fortune 500 and has over 4,000 customers worldwide, addressing challenges in indirect tax compliance as companies expand into new geographies [4] Core Business Insights - **Pricing Model**: Vertex raises prices annually, typically realizing a 4% to 5% increase. Customers on three-year contracts may see larger increases upon renewal [6][7][8] - **Market Exposure**: Vertex operates across various sectors, including manufacturing, retail, technology, and oil and gas, providing a diversified revenue stream that mitigates risks from market anomalies [12] - **Product Mix**: The largest revenue source is sales and use tax determination, followed by VAT and compliance services. The company employs a "land and expand" strategy to increase wallet share over time [15][19] E-Invoicing Market Development - E-invoicing has become a regulatory requirement in many jurisdictions, initially gaining traction in Latin America and now expanding into Europe. Governments are adopting e-invoicing to close the VAT gap [27][30] - Vertex aims to be a global provider for e-invoicing, addressing the needs of multinationals that currently use multiple point solutions [30][31] - The company anticipates significant growth opportunities as more countries adopt e-invoicing regulations, with a focus on providing comprehensive solutions that integrate with existing systems [32][33] AI Integration and Opportunities - Vertex views AI as a tool to enhance its offerings but does not see it as a threat to its value proposition due to the unique manual processes involved in tax compliance [42][47] - The company has launched AI-driven features like SmartCat to improve product categorization, which is crucial for accurate tax determination [48][49] Financial Performance and Growth Drivers - Vertex targets over 20% growth in software subscriptions and aims for high EBITDA margins, with a focus on leveraging investments made in recent years [83][84] - Key growth drivers include the ongoing migration to cloud-based ERP systems and the expansion of e-invoicing capabilities [86][88] - The company expects to see improved EBITDA margins as it moves past its current investment phase, with projections of around 21% for 2025 [93] Competitive Landscape - Vertex differentiates itself through its extensive tax content library, strong relationships with major accounting firms, and the ability to integrate multiple systems into a cohesive tax solution [78][81] - The company emphasizes the importance of referenceability and the ability to customize solutions for complex enterprise needs [81][82] Conclusion - Vertex is well-positioned for growth in the evolving landscape of tax compliance, particularly with the increasing regulatory focus on e-invoicing and the migration to cloud-based solutions. The company's strategic investments and diversified product offerings are expected to drive future performance and profitability [98][99]

合作伙伴征集：2025全球手术机器人大会 报名：首届全球眼科大会 | 名额有限 报名：首届全球心血管大会 | 奖项申报 报名：首届全球骨科大会 | 奖项评选 2025年3月21日，国家药品监督管理局批准了 北京唯迈医疗科技股份有限公司 的" 冠状动脉介入手术控制系统 "（国械注准20253010587）创新产品注册申请。 该产品由 控制机柜、液晶显示器、触摸屏、控制盒、导丝与导管执行机构 组成，适用于经皮冠状动脉介入手术期间对导管和导丝的输送与操作。 该产品属于支架递送型机器人，采用隔室控制介入机器人手术系统、基于仿生学的导丝控制技术和柔性导丝阻力检测技术。隔室控制介入机器人手术系统采用主从 架构设计，具有低延时、高安全操作特点；基于仿生学的导丝控制技术模拟医生手指导丝运动，具有小体积、高精度控制特点；柔性导丝阻力检测技术实时获取动 态变化的受力信号，具有高灵敏、高稳定信息传输特点。 # 关于ETcath ® 介入手术辅助系统 此次获批的ETcath ® 介入手术辅助系统是一款高端介入手术机器人设备，通过集成先进的影像技术、精准操作控制系统以及人工智能分析平台，实现了介入手术 的全流程智能化辅助。 ETcat ...

Financial Data and Key Metrics Changes - For fiscal year 2024, the company reported gross bookings of $65.8 million, reflecting a 13% increase from 2023, and revenue of $59.7 million, representing a 10% increase from 2023 [8][31] - Non-GAAP gross margin improved to 86% from 83% in 2023, while non-GAAP operating income increased to $5.5 million from $4.4 million in 2023 [8][31] - Non-GAAP net income per share rose to $0.25 from $0.17 in 2023, with shares used in the calculation increasing to 26.8 million from 20 million [8][31] Business Line Data and Key Metrics Changes - In Q4 2024, TCAD bookings reached $14.3 million, up 68% year over year, while EDA bookings were $5.5 million, up 31% year over year [27][30] - For the full year 2024, TCAD bookings totaled $46.9 million, a 32% increase, while EDA bookings were $15.4 million [34] Market Data and Key Metrics Changes - In Q4 2024, Asia Pacific revenues were $9.2 million, accounting for 52% of total sales, while the Americas contributed just over $7 million, or 40% of sales [35] - For the full year, Asia Pacific revenues were $31.6 million, representing 53% of sales, with the Americas at $22.5 million, or 38% of sales [35] Company Strategy and Development Direction - The company aims to drive innovation through AI-based semiconductor design, focusing on advanced CMOS geometries and power semiconductors [9][25] - The recent acquisition of Cadence's OPC product line is expected to enhance the company's capabilities in advanced memory manufacturing and foundry operations [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the acquisition of the OPC product line, indicating it will contribute to mid-single-digit revenue by 2026 [18][38] - The company expects gross bookings for 2025 to range between $72 million and $79 million, with revenue projected between $66 million and $72 million [38] Other Important Information - The company added 46 new customers in 2024, with a focus on expanding in power and memory markets [11][92] - The company has a strong cash position, ending December with $87.5 million in cash, cash equivalents, and marketable securities [29] Q&A Session Summary Question: Clarification on the contribution of the acquisition of the Cadence OPC product line - Management indicated that the contribution is expected to be modest for 2025, with more details to be provided in future calls [41][44] Question: Guidance for operating profits and OpEx increase - Management confirmed that the increase in operating expenses is due to both the acquisition and planned growth in R&D and sales [46][47] Question: Customer acquisition and integration with existing products - Management stated that the OPC product will initially be sold as a standalone product but will be integrated into the FTCO platform over the next six to nine months [54][56] Question: Current exposure to China and revenue contribution - Management expects revenue contribution from China to remain flat, around 15% to 20% for 2025 [73] Question: Gross margin guidance and long-term targets - Management explained that gross margin fluctuations are sensitive to revenue changes and that they expect margins to improve as revenue scales [80] Question: Customer acquisition pace and quality - Management anticipates maintaining the pace of customer acquisition but emphasizes that the quality of new customers will be more significant moving forward [88][89]

Moody’s Corporation (NYSE:MCO) Q4 2024 Earnings Conference Call February 13, 2025 11:30 AM ET Company Participants Shivani Kak – Head-Investor Relations Rob Fauber – President and Chief Executive Officer Noémie Heuland – Chief Financial Officer Steve Tulenko – President-Moody’s Analytics Mike West – President-Moody’s Investors Service Conference Call Participants Manav Patnaik – Barclays Ashish Sabadra – RBC Capital Markets Toni Kaplan – Morgan Stanley Alex Kramm – UBS Scott Wurtzel – Wolfe Research Owen La ...