Financial Data and Key Metrics Changes - Gilead reported total product sales of $28.9 billion for 2025, a 1% increase from 2024, exceeding guidance due to strong HIV sales growth despite a $1.1 billion headwind from Medicare Part D redesign and a $900 million decline in Veklury revenue [33][34] - The base business revenue, excluding Veklury, was $28 billion, up 4% from 2024, also surpassing guidance [33] - Non-GAAP diluted EPS for 2025 was $8.15, in line with guidance, reflecting lower R&D expenses and higher revenues [36] Business Line Data and Key Metrics Changes - The HIV business grew 6% year-over-year to $20.8 billion, driven by strong demand for Biktarvy and Descovy, with Biktarvy sales reaching $14.3 billion, up 7% [34][11] - The liver business also grew 6% to $3.2 billion, primarily due to the strong performance of Livdelzi [34][17] - Oncology product Trodelvy saw a 6% increase in sales to $1.4 billion, driven by demand in metastatic breast cancer treatment [34][18] - Cell therapy sales declined 7% year-over-year to $1.8 billion, reflecting competitive pressures [34][20] Market Data and Key Metrics Changes - The HIV prevention portfolio, including Yes2Go, grew significantly, with fourth-quarter sales of Yes2Go at $96 million and full-year sales at $150 million [13][15] - The U.S. market for HIV prevention is expanding, with Descovy achieving over 45% market share [13] - Livdelzi's market share in the U.S. for second-line primary biliary cholangitis exceeded 50% [17] Company Strategy and Development Direction - Gilead is targeting four commercial launches in 2026, including Trodelvy for first-line metastatic triple-negative breast cancer and a new daily oral combination for HIV treatment [6][22] - The company aims to maintain expense discipline while investing in new product launches and expanding its pipeline, with up to 10 ongoing and potential new launches through 2027 [7][8] - Gilead's strategy focuses on diversifying its portfolio and enhancing its clinical pipeline, which is considered the strongest in its history [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering 2026 with a strong position, citing no major product losses expected until 2036 and a commitment to returning capital to shareholders [8][43] - The company anticipates a 2% headwind to growth in 2026 due to drug pricing agreements and changes to the Affordable Care Act, but expects underlying growth of 6% absent these factors [41][42] - Management highlighted the importance of ongoing clinical trials and product launches in driving future growth [24][32] Other Important Information - Gilead returned $5.9 billion to shareholders in 2025, including $1.9 billion in share repurchases [42] - The company plans to invest approximately $1 billion annually in early-stage pipeline development and partnerships [43] Q&A Session Summary Question: Can you elaborate on the assumptions driving the $800 million guidance for Yes2Go? - Management highlighted strong access with 90% payer coverage and ongoing direct-to-consumer campaigns to increase awareness and drive growth [45][48] Question: What type of share gains do you expect for Anito-cel in the fourth-line setting? - Management expects modest contributions in 2026 post-launch, with a goal to become the market leader over time due to its efficacy and safety profile [52][56] Question: Are you expecting cannibalization of Descovy PrEP sales by Yes2Go? - Management anticipates that while Yes2Go will grow, Descovy will also continue to perform well in 2026, with both products benefiting from increased awareness in HIV prevention [58][60] Question: Can you discuss the profile of the long-acting 6-month treatment drug GS-3242? - Management expressed excitement about GS-3242's potential, emphasizing its differentiated profile and the importance of its combination with lenacapavir [63][66] Question: What do you need to show in the PURPOSE 365 study for lenacapavir for PrEP? - The study aims to demonstrate effective prevention through pharmacokinetics and safety, with potential market expansion opportunities if successful [69][73]

Financial Data and Key Metrics Changes - Total ARR grew by 3% on a reported basis and 1% in constant currency, marking a stabilization milestone for the business [15][16] - Fourth quarter total revenue was $421 million, up 3% year-over-year as reported and 1% in constant currency, exceeding expectations [16][17] - Free cash flow for the full year reached $285 million, surpassing the high end of the outlook [15][19] - Non-GAAP diluted earnings per share were $0.74, exceeding the top end of the outlook range by $0.17 [18] Business Line Data and Key Metrics Changes - Cloud ARR grew by 15% as reported and 13% in constant currency, now representing 46% of total ARR [16] - Consulting services revenue for the fourth quarter was $53 million, down 4% year-over-year as reported and down 6% in constant currency [17] Market Data and Key Metrics Changes - Customer engagement across all regions and industries shifted towards AI and Elastic Compute, indicating a growing interest in AI solutions [6][12] - The company saw a resurgence of interest in its hybrid model, with customers leveraging both on-prem and cloud deployment options [5][21] Company Strategy and Development Direction - The company is focused on harnessing Agentic AI systems to enable autonomous decision-making at enterprise scale [5] - A strong emphasis is placed on product development and innovation, with plans to invest more resources in this area to fuel future growth [15][26] - The company aims to maintain a hybrid deployment strategy to meet diverse customer needs driven by data sovereignty and regulatory environments [5][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering 2026 on solid footing, with expectations for continued growth in total ARR, operating margin, and free cash flow [15][23] - The company anticipates typical seasonality in ARR, with Q1 expected to be the largest renewal and highest erosion quarter [20][23] Other Important Information - The company announced a board refreshment initiative, with plans to add new independent directors to enhance governance [27] - A new partnership with Unstructured.io was established to automate the ingestion of unstructured content into analysis-ready data [10] Q&A Session Summary Question: On-premise AI materiality and customer investment - Management sees on-premise AI as a key growth driver, with increased POC activity leading to production deployments [30] Question: Free cash flow growth versus EPS guidance - The difference in guidance is attributed to a one-time tax benefit in Q4, affecting EPS but not free cash flow [32][33] Question: Drivers behind growth inflection - The AI marketplace is opening new opportunities, with improved retention rates and product announcements contributing to growth [36][38] Question: Visibility on migration versus expansion - Migration deals are complex and timing is hard to gauge, while expansions provide more consistent revenue growth [40][41] Question: Impact of new AI-related solutions on revenue - New product capabilities are expected to contribute to growth, but not heavily factored into current financial outlook [62] Question: Investments in headcount and sales hiring - The company plans to invest in forward-deployed engineering and product development to enhance AI solutions [68][70] Question: Seasonality and revenue growth expectations - Typical seasonality is expected, with Q1 showing erosion followed by growth in subsequent quarters [73][75] Question: Board refreshment and governance changes - The board refreshment process is ongoing, with a focus on enhancing skill mix and governance [77] Question: Characteristics of successful software companies in AI transition - The company emphasizes its role as a data layer for AI, positioning itself for growth in the autonomous AI space [81][82] Question: Operating margin expansion drivers - Expansion will be driven by gross margin improvements and efficiencies in operating expenses [84]

Astera Labs (NasdaqGS:ALAB) Q4 2025 Earnings call February 10, 2026 04:30 PM ET Speaker5Good afternoon. My name is Carly, and I will be your conference operator today. At this time, I would like to welcome everyone to the Astera Labs Q4 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After management's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press * followed by the number 1 on your t ...

Klaviyo (NYSE:KVYO) Q4 2025 Earnings call February 10, 2026 04:30 PM ET Speaker6Ladies and gentlemen, thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome you to the Klaviyo's fourth quarter and full-year 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question at that time, simply ...

Red Rock Resorts (NasdaqGS:RRR) Q4 2025 Earnings call February 10, 2026 04:30 PM ET Speaker0Good afternoon and welcome to Red Rock Resorts' fourth quarter and full year 2025 conference call. All participants will be in listen-only mode. Please note this conference is being recorded. I would now like to turn the conference over to Stephen Cootey, Executive Vice President, Chief Financial Officer, and Treasurer of Red Rock Resorts. Please go ahead.Speaker1Thank you, Operator, and good afternoon, everyone. Tha ...

Financial Data and Key Metrics Changes - Genasys reported record quarterly revenue of $17.1 million, representing a 146% year-over-year increase [4][11] - Gross profit margins improved by 48%, or 220 basis points, from the year-ago period, with expectations of annualized gross margins reaching approximately 50% [11][12] - Operating expenses decreased by 6% to $8.1 million compared to the first quarter of 2025 [12] - The GAAP net loss narrowed to $0.8 million from a loss of $4.1 million in the prior year [12] Business Line Data and Key Metrics Changes - Hardware revenues surged approximately 220% year-over-year, including $9.6 million from the Puerto Rico project [11][12] - Software revenue remained flat at $2.3 million year-over-year but increased sequentially by 5% [11][12] Market Data and Key Metrics Changes - The company experienced growing demand for its LRAD systems both domestically and internationally, particularly in the Middle Eastern and Asian markets [5][6] - The backlog at the end of fiscal Q1 was reported at $58 million, indicating strong future revenue potential [10] Company Strategy and Development Direction - Genasys aims to enhance operational efficiency and maintain disciplined cost management while scaling revenues [14] - The company is focused on driving brand awareness and expanding market presence, particularly in public safety and emergency communication sectors [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving meaningful year-over-year revenue growth and profitability for both operating income and GAAP net income in fiscal 2026 [15] - The company noted that while government budget cycles have created near-term challenges, they expect these constraints to resolve, leading to accelerated momentum [8][14] Other Important Information - The company fully repaid a $4 million term loan, maintaining a strong cash position of $10.3 million at the end of the quarter [5][13] - Genasys is actively pursuing several large-scale projects and remains engaged in the bidding process for contracts [10] Q&A Session Summary Question: Visibility in the immediate quarter and impact of government slowdown - Management indicated that the $58 million backlog insulates the company from federal budget uncertainties, though FY 2026 CROWS awards may not occur within the current fiscal year [18] Question: Updates on larger deals in Latin America and European naval opportunities - Management confirmed ongoing pursuits in Europe with several naval programs and expected significant orders from the Middle East [20][22] Question: Status of delayed software contracts and larger federal opportunities - Management reported progress in contracting with five counties and two federal agencies, moving from uncertainty to active closure [24] Question: Changes in sales cycle and pipeline growth - The sales cycle had lengthened due to frozen federal grants but is beginning to improve, contributing to pipeline growth [28] Question: Long-term gross margin goals - Management confirmed a target of 50% gross margins for the full fiscal year, with expectations of achieving this despite variability in deployment phases [29][35]

Upstart (NasdaqGS:UPST) Q4 2025 Earnings call February 10, 2026 04:30 PM ET Speaker6Good afternoon and welcome to the Upstart fourth quarter and full year 2025 earnings call. At this time, all participants are in a listen-only mode to prevent any background noise. Later, we will conduct a question-and-answer session, and instructions will be given at that time. As a reminder, this conference call is being recorded. I'd now like to turn the call over to Chelsea Williams, Investor Relations. Chelsea, please g ...

Financial Data and Key Metrics Changes - The company reported a fourth quarter revenue growth of 36% year-over-year, with full year revenue also increasing by 36% [3][13] - Fourth quarter gross margins improved to 82%, up 530 basis points, while full year gross margins increased to 77%, up 560 basis points year-over-year [15][18] - Adjusted EBITDA for the fourth quarter was $28.1 million, up from $20.7 million in Q4 of 2024, reflecting a 36% increase [18] - The company achieved positive net income of $34.5 million for the fourth quarter, with a GAAP EPS of $0.47, while reporting a net loss of $6.4 million for the full year [17][18] Business Line Data and Key Metrics Changes - The number of active PTV customers reached 3,632, representing a year-over-year growth of 63% [15] - The company has made significant inroads into the SMB market, indicating a strong applicability of its platform across various company sizes [16] Market Data and Key Metrics Changes - MNTN campaigns generated over $18 billion in revenue for customers in 2025, showcasing the effectiveness of its advertising platform [5] - The company is focused on performance marketing, targeting small and mid-sized businesses, particularly in e-commerce and travel [27] Company Strategy and Development Direction - MNTN aims to democratize television advertising by focusing on performance marketing rather than traditional brand advertising [3][4] - The company is leveraging AI technology to enhance customer targeting and campaign management, with initiatives like QuickFrame AI to streamline the ad creation process [6][24] - MNTN is committed to expanding its market share in the performance television sector while continuing to innovate and improve its platform [11][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's momentum and the underlying health of the business, anticipating continued growth and profitability [19][21] - The company expects Q1 2026 revenue in the range of $71.3 million to $73.3 million, representing a 22.3% year-over-year growth [20] Other Important Information - The company ended the quarter with $210 million in cash and cash equivalents, with no borrowings outstanding [19] - MNTN is focused on maintaining a strong balance sheet while investing strategically in sales, marketing, and technology [19][46] Q&A Session Summary Question: How does the company plan to continue driving growth? - Management highlighted the focus on the Performance TV market, sales, marketing, and product initiatives as key drivers for future growth [23] Question: Can you provide insights on new customers? - The company is focusing on small and mid-sized businesses, predominantly in e-commerce and travel, with a growing segment of performance agencies [27] Question: What improvements have been seen with QuickFrame AI? - QuickFrame AI has enabled faster ad creation and increased adoption among new and existing customers, enhancing the overall customer experience [35] Question: What is the focus of the new sales and marketing hires? - The new hires are primarily focused on the SMB market, aiming to drive demos and revenue growth [38] Question: How does the company measure attribution in CTV? - MNTN utilizes Verified Visits and an Identity Graph to provide comprehensive attribution measurement, connecting various devices to track ad effectiveness [59] Question: What are the expectations for gross margins moving forward? - The long-term target for gross margins is set at 75%-80%, with expectations for continued revenue growth to support margin expansion [74]

MasterBrand (NYSE:MBC) Q4 2025 Earnings call February 10, 2026 04:30 PM ET Speaker0Good afternoon and welcome to MasterBrand's fourth quarter and full year 2025 earnings conference call. During the company's prepared remarks, all participants will be in a listen-only mode. Following management's closing remarks, callers are invited to participate in a question-and-answer session. Please note that this conference call is being recorded. I would now like to turn the call over to Henry Harrison, Senior Directo ...

Rapid7 (NasdaqGM:RPD) Q4 2025 Earnings call February 10, 2026 04:30 PM ET Speaker2Good day, everyone. My name is Kahe Lonnie, and I will be your conference operator today. At this time, I would like to welcome you to the Q4 2025 Rapid7 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, and if you have joined via the webinar, please use the raise hand ...