Financial Data and Key Metrics Changes - The company completed the sale of its CloudFirst subsidiary for $40 million, which was projected to generate approximately $25 million in annual revenue and $5.5 million in EBITDA with no debt [6][10] - Sales from continuing operations, specifically from the Nexus subsidiary, were $417,000 for Q3 2025, an increase of $92,000 or 28.2% from $325,000 in Q3 2024 [6][10] - Net income attributable to common shareholders for Q3 2025 was $16.8 million compared to $122,000 for Q3 2024, driven primarily by the gain recognized on discontinued operations [10][11] - The company ended the quarter with cash, cash equivalents, and marketable securities of approximately $45.8 million, up from $12.3 million at the end of 2024 [10] Business Line Data and Key Metrics Changes - Sales from continuing operations for the nine months ended September 30, 2025, were $1.1 million, an increase of approximately $159,000 or 17.6% from $900,000 in the same period last year, driven by an expanding customer base in Nexus voice and data solutions [7][10] - Selling, general, and administrative expenses for Q3 2025 increased by $313,000 or 31.8% to $1.3 million from $984,000 in Q3 2024, primarily due to increased non-cash stock-based compensation [8][9] Market Data and Key Metrics Changes - The company is exploring strategic acquisitions in high-value markets such as GPU-based computing, AI-enabled infrastructure, and cybersecurity, indicating a focus on emerging technology sectors [11][12] Company Strategy and Development Direction - The company is transitioning to a new phase termed DSC 2.0, focusing on disciplined growth and shareholder value creation following the sale of CloudFirst [4][11] - A special advisory group is being formed to identify and evaluate strategic opportunities that align with long-term growth objectives [12] - The company plans to complete a tender offer and share buyback process, which will influence its final cash position and capital allocation plans [11][12] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of disciplined execution, prudent capital allocation, and operational efficiency in the current market environment [11][12] - The company is actively engaging strategic consultants to ensure that potential investments support long-term profitability and sustainable growth [12] Other Important Information - The company is launching a new corporate website to reflect its streamlined profile and future direction [5][12] Q&A Session Summary Question: What are the possible outcomes of the tender offer for your cash position? - Management estimated that if everything is tendered, the cash position could range from approximately $5 million to between $10 million and $15 million [15][17] Question: Were there any non-recurring charges in Q3 2025 SG&A? - Management confirmed that there were no non-recurring charges in Q3 2025, and the current SG&A number is a good run rate for the future [18][19] Question: Is there a scenario where the company pushes harder exclusively into Nexus? - Management indicated that there are opportunities to acquire smaller VoIP companies to bolster Nexus, which could lead to significant revenue growth [20][22]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 increased to $1.7 million from $100,000 in Q3 2024, primarily due to the acquisition of SMCB Solutions Private Limited [7] - Annualized revenue run rate for Semicab has tripled to over $7 million since January 2025, with expectations to generate around $2 million in Q4 2025 [8] - Gross loss for Q3 2025 increased to $351,000 from $32,000 in Q3 2024, with gross margin percentage improving to -20% from -25% [8][9] - Net loss for Q3 2025 decreased to $1.8 million from $2.1 million in Q3 2024, attributed to cost reduction measures [11] Business Line Data and Key Metrics Changes - Semicab's operations in India contributed $1.7 million in revenue during Q3 2025, while the legacy U.S. business generated $100,000 in Q3 2024 [7] - The company added four new Fortune 500 clients in India and converted five pilot programs into multi-million dollar contract expansions [4] Market Data and Key Metrics Changes - The global truckload transportation market is approximately $3 trillion per year, with significant inefficiencies leading to over $1 trillion in costs due to empty miles [3] - In India, truck utilization rates improved to approximately 85%, outperforming the industry average by more than 20 percentage points [4] Company Strategy and Development Direction - The company is focused on disrupting freight logistics through AI and network optimization, with a new SaaS platform, Semicab APEX, aimed at enhancing scalability and profitability [13][14] - APEX is designed to integrate easily with existing transportation management systems, allowing for rapid deployment and global adaptability [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the U.S. market for APEX due to higher gross margins and scalability compared to operations in India, which require more operational resources [28] - The company anticipates substantial revenue growth over the next 12 months, with an expected annualized revenue run rate of $15 million to $20 million by the end of next year [8] Other Important Information - The company completed the sale of its legacy Singing Machine business, resulting in a clean financial presentation focused solely on core operations [2][6] - Operating expenses for Q3 2025 decreased to $1.2 million from $1.8 million in Q3 2024 due to cost reduction measures [10] Q&A Session Summary Question: Can you explain the go-to-market strategy for APEX? - Management identified three verticals for APEX: enterprise shippers, 3PL warehousing customers, and carriers, emphasizing the ease of integration with existing systems [18][19][20] Question: Is the U.S. market a better immediate target than India? - Management highlighted the higher gross margins and scalability of the U.S. market for APEX, while acknowledging significant growth opportunities in India that require more operational resources [28]

Financial Data and Key Metrics Changes - The company experienced a favorable pricing environment for lithium, with realized average prices increasing compared to the previous period [4] - The total capital expenditure (CAPEX) for 2025-2027 is estimated at $2.7 billion, reflecting a focus on increasing production capacity and maintaining low costs [7][45] Business Line Data and Key Metrics Changes - Lithium sales volumes reached the highest in SQM history, supported by low costs and strong efficiencies at Atacama operations [4] - Iodine prices averaged close to $73 per kilogram, with revenues increasing by 5% year-on-year [6] - The specialty plant nutrition business showed sustainable growth in both volumes and revenues [5] Market Data and Key Metrics Changes - Global lithium demand is expected to exceed 1.5 million metric tons in 2025, representing over 25% growth, with strong demand from electric vehicles and energy storage systems [11][52] - China is projected to maintain a significant lead in EV markets, with a year-on-year growth of 30% [11] Company Strategy and Development Direction - The company is focused on high-quality production, being a reliable supplier, and advancing cost reduction initiatives [4] - The construction of a seawater pipeline is over 80% complete, which will enhance iodine production capacity [5] - The company is expanding its iodine production capacity through a new operation in MarÃa Elena, adding 1,500 tons of iodine capacity [5] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the lithium market, despite its volatility, and expects the positive pricing trend to continue [4] - The company anticipates robust commercial activity in the fourth quarter [5] - Management remains conservative regarding demand growth expectations for 2026, projecting over 1.7 million metric tons of lithium demand [32] Other Important Information - The joint venture with Codelco received approval from China's Antitrust Authority, and the company looks forward to advancing this partnership [8] - The company expects to produce approximately 230,000 tons of lithium from the Salar de Atacama this year [14] Q&A Session Summary Question: Insights on lithium demand, particularly in China - Management noted improved demand expectations driven by stronger-than-expected EV sales, particularly in Europe, and significant growth in battery storage shipments [11] Question: Production expectations for lithium in Chile and Australia - The company expects to produce around 230,000 tons of lithium from Atacama and increase spodumene concentrate production to 23,000-24,000 tons [14][16] Question: Impact of Kwinana Hydroxide Conversion Plant on pricing - Management indicated that as Kwinana ramps up, the realized price on an LCE basis is expected to rise closer to the Chilean price [18] Question: Update on production capacity in China - The company expects to produce around 100,000 metric tons of lithium sulfate in China, equivalent to 50,000 tons of lithium carbonate hydroxide [26] Question: CapEx reduction implications - The company clarified that the reduced CapEx will not impact capacity or projects, with a focus on maintaining strong financial health [30][43] Question: Expectations for iodine market conditions - Management indicated that supply and demand for iodine are tight, with prices expected to remain above $70 per kilogram due to limited supply growth [58]

Financial Data and Key Metrics Changes - For Q4 2025, adjusted net investment income (NII) per share was $0.39, with an adjusted NII return on equity (ROE) of 10.4% [4] - Adjusted net income per share was $0.36, resulting in an adjusted ROE of 9.6% [4] - Cumulative distributions for fiscal year 2025 totaled $1.65 per share, representing 10.9% of end-of-year net asset value per share [4] - The net asset value (NAV) per share at the end of fiscal year 2025 was $14.97, which is 34 cents above the IPO NAV in 2010 [5] Business Line Data and Key Metrics Changes - Approximately 90% of GBDC's investment portfolio remains in the highest-performing internal rating categories [11] - The investment income yield was 10.4%, a sequential decline of 20 basis points [12] - The weighted average rate on new investments was 8.9%, a decline of 30 basis points from the prior quarter [18] - The investment portfolio decreased to just under $8.8 billion at fair value, with $371 million in repayments and exits [13] Market Data and Key Metrics Changes - The private credit direct lending market is facing headwinds, including narrowed spreads and a credit cycle with elevated defaults [6][26] - The default rate in the broadly syndicated market is currently about two and a half times historical average levels [26] - GBDC's effective borrowing costs decreased to 5.6% annualized, which is considered industry-leading [13] Company Strategy and Development Direction - GBDC's investment strategy focuses on providing first-lien senior-secured loans to middle-market companies backed by strong private equity sponsors [3] - The company aims to maintain a stable NAV per share, minimize excise taxes, and adjust its base distribution level infrequently [9] - GBDC plans to revisit its dividend policy early next year based on the outlook for rates and asset spreads [8] Management's Comments on Operating Environment and Future Outlook - The U.S. economy shows resilience, but there are signs of weakness, particularly among lower-end consumers [25] - Elevated credit stress is expected to persist, impacting different BDCs in varying ways [26] - The company believes that the current environment may allow private credit specialists to outperform [10] Other Important Information - GBDC's liquidity position remains strong, ending the quarter with approximately $1.2 billion in liquidity [24] - The company repurchased 368,000 shares during the quarter, totaling 2.9 million shares for the fiscal year [16] Q&A Session Summary Question: Availability of co-invest - GBDC has not seen any meaningful change in the availability or quality of equity co-invest opportunities over the past years [31][32] Question: Themes in the economy - There is optimism regarding capital spending due to tax provisions, but concerns exist about the subprime consumer facing stress [39] Question: Spread compression risks - The compression of spreads is widespread across various debt categories, and a change in investor sentiment would be necessary for spreads to move higher [40][41]

Financial Data and Key Metrics Changes - The company reported record revenue of $1.45 billion for Q3 FY 2026, a 14.1% increase compared to Q3 FY 2025 [4][21] - Adjusted EBITDA reached $219 million, marking a 28.5% increase year-over-year, with an adjusted EBITDA margin of 15.1%, up 169 basis points from the previous year [5][21] - Net income was $106.4 million, resulting in diluted EPS of $3.63, exceeding expectations [22] - The backlog increased to an all-time high of $8.2 billion, with $4.99 billion expected to be completed in the next 12 months [6][22] Business Line Data and Key Metrics Changes - Organic revenue growth was reported at 7.2%, driven by fiber-to-the-home programs, wireless activity, and maintenance services [21] - The company secured over $500 million in verbal awards related to BEAD deployments, which will be reflected in the next quarter's backlog [9][23] Market Data and Key Metrics Changes - The company anticipates a $20 billion addressable market for outside plant data center network construction over the next five years, driven by increasing demand for fiber infrastructure [7][11] - The NTIA approved final BEAD deployment plans for 15 states, with $29.5 billion in total spending expected from states and territories [8][9] Company Strategy and Development Direction - The acquisition of Power Solutions for $1.95 billion is expected to enhance the company's capabilities in the digital infrastructure market and is projected to be immediately accretive to financial performance [12][13] - The company aims to leverage Power Solutions' expertise in electrical infrastructure to capitalize on the growing demand for data centers and digital infrastructure services [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for telecommunications infrastructure, particularly in fiber-to-home builds and data center growth [6][19] - The company is positioned to benefit from the ongoing AI-driven demand for infrastructure, with expectations of significant growth in the data center sector [17][19] Other Important Information - The company is implementing a comprehensive ERP system to enhance operational efficiencies, with the first phase completed during Q3 [23] - The acquisition is expected to improve free cash flow and provide a clear path to deleveraging to two times net leverage within 12 to 18 months [28][29] Q&A Session Summary Question: Improvement in DSOs and future expansion of Power Solutions - Management noted that the 14-day improvement in DSOs reflects strong cash management efforts and expressed optimism about future expansion opportunities for Power Solutions in Texas and other areas [34][36] Question: Customer relationships and opportunities with Power Solutions - Management indicated that Power Solutions primarily works with general contractors, but there is significant overlap with hyperscaler end users, providing opportunities for new builds and retrofits [40][42] Question: Fourth quarter guidance and backlog context - The wider revenue range for Q4 is attributed to seasonal factors and the ongoing growth in fiber-to-the-home programs, with confidence in achieving strong backlog performance [57][59] Question: Data center market expansion and new markets - Management emphasized a cautious approach to expanding into new markets, focusing on leveraging existing strengths in the DMV region while exploring M&A opportunities [61][64] Question: Service and maintenance agreements context - The $500 million in service and maintenance agreements reflects the company's scale and ability to meet customer needs, setting up a strong backlog for Q4 [72][75]

Financial Data and Key Metrics Changes - Third quarter sales reached $20.8 billion, with comparable sales increasing by 0.4% year-over-year, despite a 100 basis point headwind from hurricanes [5][32] - Adjusted diluted earnings per share were $3.06, reflecting a 6% increase compared to the previous year [5][31] - Adjusted operating margin expanded by approximately 10 basis points, resulting in an adjusted operating margin rate of 12.4% [5][33] - Gross margin improved to 34.2%, up 50 basis points from the prior year [33] Business Line Data and Key Metrics Changes - Positive comparable sales were reported in 10 of 14 merchandise divisions, with notable strength in home decor, appliances, flooring, and paint [17][32] - Online sales grew by 11.4% during the quarter, driven by increased traffic and strong conversion rates [7] - Home services experienced double-digit growth, contributing to the overall positive performance [27] Market Data and Key Metrics Changes - The U.S. homeowner market remains healthy, with strong balance sheets and continued consumer spending, although affordability issues persist [14][15] - Home equity levels are high, averaging around $400,000, which may encourage homeowners to invest in their existing properties rather than moving [15][16] Company Strategy and Development Direction - The company is focused on its 2025 Total Home Strategy, which includes enhancing pro offerings, accelerating online sales, and leveraging loyalty programs [6][8] - The acquisition of Foundation Building Materials (FBM) aims to expand product offerings and enhance fulfillment capabilities, particularly in urban markets [12][13] - Investments in AI are expected to improve customer engagement and operational efficiency, with virtual assistants driving sales and customer satisfaction [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the macro environment, noting that lower interest rates could spur demand in the home improvement sector [15][16] - The company anticipates flat comparable sales for the year, with expectations of approximately $86 billion in total sales, including FBM [37] - Management highlighted the importance of operational discipline and strategic investments in positioning the company for long-term growth [38] Other Important Information - The company is on track to achieve a multi-year goal of reducing in-store SKU count by 15% by the end of 2025 [24] - The marketplace initiative is showing early promise, exceeding expectations in seller onboarding and customer adoption [78][80] Q&A Session Summary Question: How is the company thinking about the trend in the business in light of recent performance? - Management noted positive comp performance to start the quarter and improvements in top-line results since exiting October, indicating that key elements of the Total Home Strategy are working [41][42] Question: What has changed in the kitchen and bath category? - Management believes the company is taking market share in this space, supported by improved technology and a better go-to-market strategy [48][49] Question: Can you elaborate on the improving pro survey sentiment? - Management reported that 75% of small to medium pros feel confident in their job prospects, with ongoing investments in loyalty programs and fulfillment driving growth [55][57] Question: What is the company's strategy for the medium to larger pro market? - The strategy focuses on leveraging the MyLowe's Pro Rewards platform and enhancing product offerings to capture market share in the small to medium pro segment [70][71] Question: What is the initial performance of the marketplace? - Management expressed excitement about the marketplace launch, noting it is exceeding expectations in financial performance and seller quality [77][78]

Financial Data and Key Metrics Changes - Third quarter sales reached $20.8 billion, with comparable sales increasing by 0.4% year over year, despite a 100 basis point headwind from hurricanes [5][32] - Adjusted diluted earnings per share were $3.06, reflecting a 6% increase compared to the previous year [5][31] - Adjusted operating margin expanded by approximately 10 basis points, resulting in an adjusted operating margin rate of 12.4% [5][33] Business Line Data and Key Metrics Changes - Positive comparable sales were reported in 10 of 14 merchandise divisions, with notable strength in appliances, flooring, paint, and kitchens and bath [17][32] - Online sales grew by 11.4% during the quarter, driven by increased traffic and strong conversion rates [7] - Home services experienced double-digit comparable sales growth, indicating strong performance in this key initiative [27] Market Data and Key Metrics Changes - Monthly comparable sales were up 2.5% in August, 0.9% in September, and down 2.6% in October, reflecting storm-related demand impacts [32] - Inventory at the end of Q3 was $17.2 billion, down approximately $400 million year over year, aided by inventory productivity initiatives [33] Company Strategy and Development Direction - The company is focused on its 2025 Total Home Strategy, which includes enhancing pro offerings, accelerating online sales, and leveraging loyalty programs [6][8] - The acquisition of Foundation Building Materials (FBM) aims to expand product offerings and enhance fulfillment capabilities, particularly in urban markets [12][13] - Investments in AI capabilities are expected to improve customer engagement and operational efficiency [10][11] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in the long-term health of the home improvement sector, despite current consumer anxiety and economic uncertainty [15][16] - The potential for lower interest rates and strong homeowner equity could spur demand for home improvement projects [15][66] - The company anticipates flat comparable sales for the year, with expectations of approximately $86 billion in total sales, including FBM [37] Other Important Information - The company has been recognized for its AI adoption, achieving a milestone award from OpenAI [11] - The company is committed to supporting veterans through community initiatives, including the Freedom Hill project [29] Q&A Session Summary Question: Thoughts on business trends and performance outlook for 2026 - Management noted positive comp performance to start the quarter and improvements in top-line performance since exiting October, indicating that key elements of the Total Home Strategy are working [41][42] Question: Changes in kitchen and bath performance - Management believes Lowe's is gaining market share in the kitchen and bath space due to improved technology and a better go-to-market strategy [48][49] Question: Improving pro survey sentiment and its implications - Management reported that 75% of pros feel confident in their job prospects, with ongoing investments in loyalty programs and fulfillment driving growth [55][57] Question: Macro environment and housing market outlook - Management acknowledged elevated mortgage rates but highlighted strong homeowner equity as a potential driver for future discretionary spending [65][66] Question: Strategy for medium to larger pro customers - Management emphasized the importance of the Milo's Pro Rewards loyalty platform and the integration of FBM to enhance service offerings for pro customers [70][71]

Financial Data and Key Metrics Changes - System-wide store sales increased by 10% to $3.5 billion, marking the 19th consecutive year of same-store sales growth [4][6] - Adjusted EBITDA grew by double digits, reflecting the impacts of refranchising and technology investments [4][6] - For Q4, net sales reached $454 million, a 4% increase on a reported basis and a 10% increase when adjusted for refranchising [14][15] - Adjusted EPS was $1.59 per share, at the low end of the guidance range [7][14] Business Line Data and Key Metrics Changes - The company added 170 new system-wide stores, bringing the total to 2,180 across the U.S. and Canada [4][10] - Same-store sales growth for the fiscal year was 6.1%, with transaction growth accounting for over one-third of the comp [14][15] - The gross margin rate remained flat at 39.1%, with labor leverage offsetting increased product costs [15][16] Market Data and Key Metrics Changes - The company refranchised three markets: Denver, Las Vegas, and West Texas, leading to a 150% increase in new store additions in these markets compared to the prior year [10][11] - The fleet business continues to grow faster than the consumer business, indicating strong demand for quick and convenient service [12] Company Strategy and Development Direction - The strategic priorities include driving the full potential of the core business, delivering sustainable network growth, and innovating to meet customer needs [7][8] - The company plans to close the Breeze AutoCare acquisition, which will add 162 stores to its network, enhancing its market position [11][18] - The focus remains on leveraging technology and operational efficiencies to improve store-level performance and customer experience [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the core business's performance for fiscal 2026, expecting same-store sales growth of 4%-6% [35][36] - The company anticipates continued investment in growth while moderating SG&A growth [16][21] - Management noted that the competitive environment remains fragmented, with significant opportunities for market share capture [39][40] Other Important Information - The company ended fiscal 2025 with a leverage ratio of 3.4 times and plans to increase it to approximately 4.2 times post-acquisition [17][18] - Capital expenditures for the year were $259 million, with 70% allocated to new store additions [17] Q&A Session Summary Question: Revenue and EBITDA contribution from Breeze acquisition - Management indicated that the core business is expected to perform well, but specifics on Breeze's contribution are still being assessed [23][24] Question: Same-store sales guidance and its components - Management confirmed that the same-store sales guidance reflects a balance between transaction and ticket growth, with expectations for consistency across quarters [52][53] Question: Margin outlook for 2026 - Management noted that while new acquisitions typically have lower margins initially, they expect margin improvement as the new stores are integrated [44][46] Question: Impact of higher product costs - Management explained that product costs are influenced by crude oil pricing and supply chain inflation, with expectations for continued headwinds in fiscal 2026 [64][66] Question: Interest expense increase and its impact on EPS - Management acknowledged that higher depreciation and an increased effective tax rate contributed to the lower-than-expected EPS [69][70]

Financial Data and Key Metrics Changes - System-wide store sales increased by 10% to $3.5 billion, marking the 19th consecutive year of same-store sales growth [4][6] - Adjusted EBITDA grew by double digits, reflecting the impacts of refranchising and technology investments [4][6] - For Q4, net sales reached $454 million, a 4% increase on a reported basis and a 10% increase when adjusted for refranchising [14][15] - Adjusted EPS was $1.59 per share, at the low end of the guidance range [7][14] Business Line Data and Key Metrics Changes - The company added 170 new system-wide stores, bringing the total to 2,180 across the U.S. and Canada [4][10] - Same-store sales growth for the fiscal year was 6.1%, with transaction growth accounting for over one-third of the comp [14][15] - The gross margin rate remained flat at 39.1%, with labor leverage contributing to a 120 basis point improvement [15][16] Market Data and Key Metrics Changes - The company refranchised three markets: Denver, Las Vegas, and West Texas, leading to a 150% increase in new store additions in these markets compared to the previous year [10][11] - Fleet growth outpaced consumer business growth, indicating a strong demand for speed and convenience in service [12] Company Strategy and Development Direction - The company aims to drive the full potential of its core business, focusing on transaction and ticket growth through increased store-level efficiency [7][8] - Plans to continue sustainable network growth and innovate to meet evolving customer needs [8][10] - The Breeze AutoCare acquisition is expected to close on December 1, adding 162 stores to the network and enhancing growth opportunities [11][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the core business's performance for fiscal 2026, expecting same-store sales growth of 4%-6% [18][35] - The company anticipates continued investments in growth while moderating SG&A growth [16][21] - Management noted that the competitive environment remains fragmented, with significant market share still available for capture [39][40] Other Important Information - The company ended fiscal 2025 with a leverage ratio of 3.4 times and plans to increase it to approximately 4.2 times due to the Breeze acquisition [17][18] - Capital expenditures for the year were $259 million, with 70% allocated to new store additions [17] Q&A Session Summary Question: Revenue and EBITDA contribution from Breeze - Management indicated that the core business is expected to perform well, but specifics on Breeze's contribution are still being assessed [23][24] Question: Same-store sales guidance and its drivers - Management confirmed that the same-store sales guidance reflects a balance between transaction and ticket growth, with expectations for continued performance [32][35] Question: Margin outlook for 2026 - Management noted that while SG&A growth is expected to moderate, the inclusion of the Breeze acquisition may complicate margin analysis [43][44] Question: Impact of higher product costs - Management acknowledged that higher product costs have been a drag, but they expect potential benefits from declining base oil prices in the future [64][66] Question: Interest expense increase and its impact on EPS - Management explained that higher depreciation and an increased effective tax rate contributed to the lower-than-expected EPS [67][69]

Financial Data and Key Metrics Changes - The company reported record revenue of $1.45 billion for Q3 FY 2026, a 14.1% increase compared to Q3 FY 2025 [4][21] - Adjusted EBITDA reached $219 million, marking a 28.5% increase year-over-year, with an adjusted EBITDA margin of 15.1%, up 169 basis points from the previous year [5][22] - The company’s backlog hit an all-time high of $8.2 billion, with $4.99 billion expected to be completed in the next 12 months [6][22] Business Line Data and Key Metrics Changes - Organic revenue growth was reported at 7.2%, driven by fiber-to-the-home programs, wireless activity, and maintenance services [21] - Major customers included AT&T with $361.9 million and Lumen with $170.3 million, each exceeding 10% of total revenues for the quarter [22] Market Data and Key Metrics Changes - The company anticipates a $20 billion addressable market for outside plant data center network construction over the next five years, driven by increasing demand for digital infrastructure [7][11] - The NTIA approved final BEAD deployment plans for 15 states, with $29.5 billion in total spending expected, creating a significant addressable market for fiber and HFC infrastructure [8][9] Company Strategy and Development Direction - The acquisition of Power Solutions is expected to enhance the company’s capabilities in the rapidly growing digital infrastructure market, particularly in the data center sector [12][29] - The company aims to leverage its scale and expertise to capitalize on the growing demand for fiber infrastructure and data center construction [7][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for telecommunications infrastructure, particularly fiber-to-home builds and data center growth [6][19] - The company is optimistic about the future, projecting revenue growth of 13.8% to 15.4% for the full fiscal year, excluding the impact of the pending acquisition [6][24] Other Important Information - The total purchase price for Power Solutions is $1.95 billion, expected to be immediately accretive to adjusted EBITDA margin and diluted EPS [13][29] - The company has secured over $500 million in verbal awards related to BEAD deployments, which will not be reflected in the backlog until the next quarter [9][23] Q&A Session Summary Question: Improvement in DSOs and Power Solutions Expansion - Management noted a 14-day improvement in DSOs, attributing it to strong cash management practices and expressed confidence in maintaining this improvement going forward [35] - Regarding Power Solutions, management highlighted the addition of skilled workforce and the alignment with hyperscaler demands as key growth drivers [36] Question: Customer Relationships and Opportunities - Management indicated that Power Solutions primarily works with general contractors, but there is significant overlap with hyperscaler end users, providing opportunities for diversification [40][42] Question: Fourth Quarter Guidance and Backlog - The wider revenue range for Q4 reflects seasonal factors and the ongoing growth in fiber-to-home programs, with expectations for continued strong performance [57] - Power Solutions has a backlog of over $1 billion, with contracts typically spanning 6 to 12 months, indicating a robust pipeline of work [59] Question: New Market Expansion and Long-Term Strategy - Management emphasized a cautious approach to expanding into new markets, focusing on long-term shareholder returns and leveraging existing strengths in the DMV region [64] Question: Service and Maintenance Agreements - The $500 million in service and maintenance agreements post-quarter reflects the company's ability to secure ongoing work and indicates strong momentum heading into Q4 [72][75]