Financial Data and Key Metrics Changes - Total revenue for Q4 2025 was $544 million, representing a 10% increase year-over-year, while full-year revenue reached $2.05 billion, exceeding initial expectations with a 10% growth in recurring and other revenue to $1.94 billion [9][10] - Adjusted EBITDA margin for Q4 was 43.4%, with full-year adjusted EBITDA growing 14% year-over-year to $882 million, reflecting a 180 basis point margin expansion to 43% [10][11] - GAAP net income for Q4 was $114 million, or $2.07 per diluted share, while full-year GAAP net income was $453 million, or $8.08 per diluted share [10][11] - Operating cash flow increased by 27% year-over-year to $679 million, with a free cash flow of $404 million, up 20% year-over-year [11][12] Business Line Data and Key Metrics Changes - The company achieved a record revenue retention rate of 91% in 2025, up from 90% in 2024, attributed to investments in automation and service quality [16] - The client count grew to approximately 39,200, a 4% increase compared to 2024, with significant success in acquiring larger clients [15][16] Market Data and Key Metrics Changes - The average daily balance on funds held for clients was approximately $2.8 billion in Q4 2025, up 11% year-over-year [14] - The company continues to capture opportunities in the market, holding less than 5% of the total addressable market, indicating substantial growth potential [5][17] Company Strategy and Development Direction - The company is focused on full solution automation, enhancing client ROI, and providing world-class service, which has led to strong revenue retention and client satisfaction [4][5] - Future strategies include extending technological leadership and targeting the remaining 95% of the addressable market, with a commitment to innovation and automation [9][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory despite a conservative revenue guidance for 2026, expecting total revenue growth of 6% to 7% [16][17] - The company is not seeing any reluctance from clients to purchase products, indicating a stable demand environment [34] Other Important Information - The company repurchased over 1.7 million shares in 2025, totaling $370 million, and has approximately $1.1 billion remaining under its buyback authorization [12][13] - The board approved a quarterly dividend of $0.375 per share, payable in mid-March [13] Q&A Session Summary Question: How to reconcile positive product developments with guidance suggesting a slowdown? - Management acknowledged the positive client retention and product automation but noted that sales opportunities remain a focus for improvement [19][20] Question: Will changes in sales leadership lead to significant go-to-market changes? - Management indicated that the focus is on enhancing the value proposition and training sales staff on new product enhancements [22][24] Question: What are the expectations for recurring revenue growth and guidance methodology? - Management clarified that the guidance reflects current visibility and is consistent with previous years, with a focus on new client acquisitions [26][28] Question: Are there any changes in client behavior or decision-making processes? - Management reported no changes in client willingness to buy, emphasizing ongoing training and product automation [34] Question: How is AI impacting internal productivity and efficiencies? - Management highlighted that AI is enhancing processing speed and overall productivity, allowing for rapid development and integration of new features [48][50] Question: What is the strategy for improving retention rates? - Management emphasized the importance of delivering world-class service and ensuring clients achieve full value from the product [44][45] Question: How is the competitive landscape affecting win rates and pricing? - Management remains optimistic about win rates, citing product differentiation and improved sales processes [86][87]

Applovin (NasdaqGS:APP) Q4 2025 Earnings call February 11, 2026 05:00 PM ET Speaker6Welcome to AppLovin's earnings call for the fourth quarter and year ended December 31, 2025. I'm David Hsiao, Head of Investor Relations. Joining me today to discuss our results are Adam Foroughi, our Co-founder, CEO, and Chairperson, and Matt Stumpf, our CFO. Please note, our SEC filings to date, as well as our financial update and press release discussing our fourth quarter and annual performance, are available at investor ...

Financial Data and Key Metrics Changes - Revenue for Q2 fiscal 2026 increased 120% to $16.4 million compared to $7.4 million in the same year-ago quarter [24] - Gross profit increased 212% to $6 million, representing 37% of total revenues, up from 26% in the prior year [24] - Net loss for Q2 fiscal 2026 totaled $9.4 million or $0.20 per share, compared to a net loss of $2.6 million or $0.07 per share in the same year-ago quarter [26] Business Line Data and Key Metrics Changes - Revenue from infrared components was $5 million (31%), visible components $3.4 million (21%), assemblies and modules $7.2 million (44%), and engineering services $0.7 million (4%) [24] - G5 Infrared contributed significantly to revenue growth, with over $80 million in new orders since acquisition, compared to $15 million in the prior year [5] Market Data and Key Metrics Changes - The company is positioned to benefit from increased NATO spending in Europe, particularly in defense [33] - The U.S. government is expected to launch numerous satellites for missile tracking, creating significant opportunities for the company [11][12] Company Strategy and Development Direction - The company has transitioned to a vertically integrated provider of high-value infrared optics and camera systems, focusing on higher revenue and gross margins [3] - The acquisition of Amorphous Materials is expected to enhance production capabilities and capacity, allowing for larger optics production [9][14] - The company aims to capture significant market share within a 3-4 year window, leveraging unique technologies and strategic investments [16][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet NDAA compliance and capitalize on domestic manufacturing opportunities [19] - The company anticipates gradual financial improvement and has set internal targets for gross margin and EBITDA positivity [28][29] - Management highlighted the importance of executing on existing contracts and converting backlog into revenue [31] Other Important Information - The company completed a secondary capital raise of $60 million to support growth initiatives [15] - Backlog totaled $97.8 million, with a significant portion being higher-margin systems and subsystems [28] Q&A Session Summary Question: Was the increase in sales to Europe due to a specific customer or NATO spending? - The increase was attributed to NATO spending in defense in Europe and Israel, with some G5 shipments included [33] Question: Are there plans for building lenses for optical intersatellite links? - The company already has a strong position in free space optical communication between satellites and is in discussions to increase capacity [34] Question: Can you elaborate on the three-year window for capturing market share? - The company has a unique opportunity to capture market share while competitors struggle with germanium supply, with a focus on long-term relationships in defense [37] Question: What are the main constraints in terms of capacity and product development? - The primary constraints are in glass production capacity and product development, with ongoing efforts to address these through acquisitions and investments [38] Question: What is the timeline for converting cameras to Black Diamond? - The goal is to complete the conversion of all relevant cameras to Black Diamond by autumn of this year [39] Question: What is the cost difference for customers between different lens sizes? - The cost difference is influenced by material costs and the number of lenses that can fit in a coating chamber, affecting overall production costs [42]

Cisco Systems (NasdaqGS:CSCO) Q2 2026 Earnings call February 11, 2026 04:30 PM ET Company ParticipantsAaron Rakers - Managing DirectorAmit Daryanani - Senior Managing DirectorBen Reitzes - Managing Director and Head of Technology ResearchChuck Robbins - Chairman and CEOJames Fish - Managing DirectorKarl Ackerman - Managing DirectorMark Patterson - CFOMeta Marshall - Managing DirectorMichael Ng - Managing DirectorSami Badri - Head of Investor RelationsSamik Chatterjee - Managing DirectorConference Call Parti ...

Financial Data and Key Metrics Changes - Neurocrine's total product sales grew to over $2.8 billion, representing a 22% year-over-year growth, driven by INGREZZA and the successful launch of CRENESSITY [11][12] - INGREZZA generated just over $2.5 billion in revenue, up 9% year-over-year, with expectations of sales in the range of $2.7 billion to $2.8 billion in 2026, indicating approximately 10% growth [11][12] - The company's cash position increased by approximately $700 million, from $1.8 billion at the end of 2024 to $2.5 billion at the end of 2025, reflecting strong operating performance [14] Business Line Data and Key Metrics Changes - INGREZZA's performance continues to impress, with record levels of new and total prescriptions, supported by strategic investments in access and sales force expansion [5][11] - CRENESSITY achieved over $300 million in net product sales in its first full year, with prescriptions covering over 10% of the classic congenital adrenal hyperplasia patient population [12][13] - The company expects double-digit volume-driven growth for INGREZZA, supported by continued demand from patients not currently taking a VMAT2 inhibitor [6][11] Market Data and Key Metrics Changes - Approximately 10% of the classic CAH population in the U.S. has been prescribed CRENESSITY, with the potential for further growth as the company expands its reach beyond endocrinologists [22][82] - The market for VMAT2 inhibitors, including INGREZZA, remains underpenetrated, with only about 10% of the prevalent TD population currently taking a VMAT2 inhibitor [23] Company Strategy and Development Direction - Neurocrine aims to lead the VMAT2 category by leveraging its experience with INGREZZA to advance next-generation VMAT2 inhibitors [8] - The company is focused on expanding its pipeline, with late-stage programs in neuropsychiatry and ongoing investments in R&D to support future growth [9][27] - The strategy includes expanding the CRENESSITY sales force and leveraging technology to identify and engage potential prescribers [21][83] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong foundation and momentum entering 2026, with expectations for continued growth and successful execution of its strategies [10][16] - The management team highlighted the importance of ongoing education for prescribers and patients regarding the benefits of CRENESSITY and the limitations of existing treatments [88] Other Important Information - The company achieved its phase I through phase III objectives for the first time in 2025, marking it as the most productive clinical year in its history [9] - Neurocrine's R&D expenses are expected to increase in 2026 due to investments in phase III programs, with a focus on delivering one new medicine every two years at steady state [15][47] Q&A Session Summary Question: Insights on CRENESSITY's early performance and patient dynamics - Management noted that while they are not providing specific guidance for CRENESSITY, they anticipate steady new patient additions and a strong growth year based on positive feedback and demand dynamics [34][51] Question: Impact of receptor occupancy data on future VMAT2 inhibitors - The management highlighted that INGREZZA demonstrated nearly double the VMAT2 target occupancy compared to Austedo XR, indicating superior efficacy, which will inform the development of next-generation VMAT2 inhibitors [38] Question: Barriers to further adoption of CRENESSITY - Management identified lack of knowledge among endocrinologists as a barrier and emphasized the importance of educational efforts to inform prescribers about the benefits of CRENESSITY over traditional glucocorticoid treatments [86]

Optex Systems (NasdaqCM:OPXS) Q1 2026 Earnings call February 11, 2026 04:30 PM ET Company ParticipantsChad George - CEOKaren Hawkins - CFOOperatorGood afternoon, everyone, and welcome to today's Optex Systems Holdings first-quarter earnings conference call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. To register to ask a question at any time, please press star 1 on your telephone. Please note this cal ...

Ascendis Pharma (NasdaqGS:ASND) Q4 2025 Earnings call February 11, 2026 04:30 PM ET Company ParticipantsAlex Thompson - Managing DirectorChad Fugere - VP of Investor RelationsDerek Archila - Managing Director and Co-Head of Therapeutics ResearchHeidi Jacobson - Equity Research AssociateJan Møller Mikkelsen - President and CEOJay Wu - EVP and President of US MarketLeland Gershell - Managing DirectorMaxwell Skor - VP in Biotech Equity ResearchScott Smith - CFOConference Call ParticipantsDaniel Brander - Equit ...

Financial Data and Key Metrics Changes - In Q4 2025, revenue reached $119.5 million, a 5% increase from 2024, setting the stage for anticipated stronger growth in 2026 [5][16] - Non-GAAP gross margin for the year increased by 400 basis points to 39.6%, with expectations to reach the low-to-mid 40% range in 2026 [16][17] - Non-GAAP operating loss decreased by 14% to $13.3 million compared to Q4 2024, and the net loss was 22% lower at $15 million [15][17] Business Line Data and Key Metrics Changes - Product revenue for Q4 was $19.9 million, down from $21 million in the previous year, with console sales growing 11% to $6.4 million [11][16] - Service and other revenue grew 6% to $9 million, while recurring revenue from consumables and services was $22.5 million, showing sequential growth [12][16] Market Data and Key Metrics Changes - Tablo is now utilized in approximately 1,000 acute care sites across the U.S., with significant customer satisfaction scores above 95% [4][6] - The company has expanded its partnerships with acute and post-acute care providers, leading to improved clinical outcomes and operational benefits [6][7] Company Strategy and Development Direction - The company aims to enhance its technology and service leadership while reducing costs, as evidenced by the recent FDA clearance of the next-generation Tablo platform [3][9] - The focus on cybersecurity as a critical patient safety issue is expected to provide a competitive advantage and drive interest among potential customers [9][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2026, expecting revenue growth between 5% and 9%, with a focus on maintaining operating leverage and reducing cash burn [17][18] - The company is committed to innovation and customer-centric improvements, with plans for further enhancements to the Tablo platform [19][62] Other Important Information - The company ended Q4 2025 with $173 million in cash and equivalents, indicating sufficient resources to reach profitability [15][52] - The next-generation Tablo platform is expected to launch in Q2 2026, with potential impacts on gross margins and sales cycles [9][66] Q&A Session Summary Question: Can you elaborate on the advantages of the Next-Gen Tablo and its market impact? - Management highlighted that the new system meets FDA cybersecurity standards, which is a significant concern for hospitals, potentially attracting more customers [24][25] Question: What is the current state of the sales force and deal pipeline? - The sales leadership team remains stable, and the pipeline has shown growth across key metrics, with a focus on both new and existing customers [27][30] Question: How does the company view capital budgets and backlog? - There have been no significant changes in capital spending among customers, and the backlog remains an important lever for growth [53][54] Question: What are the expectations for gross margins with the new Tablo? - Management anticipates that the new product will provide a tailwind for revenue and gross margins, with a mild impact expected during the transition [67][68]

McDonald’s (NYSE:MCD) Q4 2025 Earnings call February 11, 2026 04:30 PM ET Company ParticipantsChris Kempczinski - Chairman and CEODave Palmer - Senior Managing Director and the Head of the Consumer Research TeamDexter Congbalay - VP of Investor RelationsIan Borden - CFOJill McDonald - Executive Vice President and President of International Operated MarketsConference Call ParticipantsAndrew Barish - Equity Research AnalystBrian Harbour - Equity Research AnalystDavid Tarantino - Equity Research AnalystDennis ...

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $119.5 million, representing a 5% increase over 2024 [5][15] - Non-GAAP gross margin for the year increased by 400 basis points to 39.6%, with a target of reaching 50% in the future [16][17] - Non-GAAP operating loss decreased by 14% to $13.3 million compared to the previous year [15] Business Line Data and Key Metrics Changes - Product revenue for Q4 was $19.9 million, down from $21 million in the same quarter last year, with console sales growing 11% to $6.4 million [11][12] - Service and other revenue grew by 6% to $9 million, while recurring revenue from consumables and services was $22.5 million [12][16] - Product gross margin exceeded 50% for the first time, reaching 50.7% [14] Market Data and Key Metrics Changes - Tablo is now utilized in approximately 1,000 acute care sites across the U.S., with significant customer satisfaction scores above 95% [4][6] - The company has expanded its partnerships with acute and post-acute care providers, leading to improved clinical outcomes and operational benefits [6][7] Company Strategy and Development Direction - The company aims to enhance its technology and service leadership while reducing costs, as evidenced by the recent FDA clearance of the next-generation Tablo platform [3][9] - The focus is on insourcing dialysis services, which has shown to improve clinical outcomes and operational efficiencies for healthcare providers [6][19] - The company plans to launch the next-generation Tablo platform in Q2 2026, which is expected to provide a competitive advantage due to its compliance with stringent cybersecurity standards [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2026, anticipating revenue growth between $125 million and $130 million, a 5%-9% increase over 2025 [17][18] - The company expects to continue reducing cash usage and improving operating leverage, with operating expense growth anticipated to be half the rate of revenue growth [18][52] - Management highlighted the importance of cybersecurity in healthcare and how the new Tablo platform addresses these concerns, potentially attracting more customers [24][25] Other Important Information - The company ended Q4 with $173 million in cash and equivalents, indicating sufficient liquidity to reach profitability [15][52] - The company has made significant investments in innovation and talent acquisition to strengthen its leadership team [3][4] Q&A Session Summary Question: What advantages will the next-gen Tablo offer and how will it affect market opportunities? - Management indicated that the next-gen Tablo will enhance cybersecurity, which is a growing concern for hospitals, potentially attracting more customers [23][24] Question: What is the current state of the sales force and deal pipeline? - Management reported stability in the sales force and a healthy pipeline, with diversification across new and existing customers [26][30] Question: Can you quantify pipeline growth entering 2025 versus 2026? - Management noted similar growth rates in the pipeline between 2024 and 2025, indicating strong demand for their services [42] Question: What is the timeline for achieving 50% gross margin? - Management confirmed that reaching 50% gross margin is within their planning horizon, but did not specify a formal timeline [51] Question: How is the hospital capital budget environment currently? - Management stated that there have been no material changes in capital spending among their customers for 2026 [53]