Steelcase (SCS) Q4 2025 Earnings Call March 27, 2025 05:30 PM ET Company Participants Mike O'Meara - Director of Investor Relations & Financial Planning and AnalysisSara Armbruster - President and Chief Executive OfficerDavid Sylvester - Senior VP & CFO Conference Call Participants Gregory Burns - AnalystJoe Gomes - Senior Research AnalystSteven Ramsey - Senior Equity AnalystReuben Garner - Equity Research Analyst Operator Good morning. My name is Rob, and I will be your conference operator today. At this t ...

Stardust Power Inc. (SDST) Q4 2024 Earnings Conference Call March 27, 2025 05:30 PM ET Company Participants Operator - Conference Call OperatorJoanna Gonzalez - Director of Investor RelationsRoshan Pajari - CEOUday Devaswar - Chief Financial OfficerUnknown Speaker 08 - ParticipantUnknown Speaker 09 - Participant Conference Call Participants Henry Hurl - Analyst (asking on behalf of Nick Giles, B. Riley Securities)Jake Sikelski - Analyst (Alliance Global Partners)Greg Messneff - Analyst (Kingswood Capital Pa ...

Financial Data and Key Metrics Changes - The company reported a revenue decline of 11% to $6.9 million in 2024, primarily due to the exit from a low-margin service agreement [10][25] - High-margin software license fee revenue increased by 20% to $5.2 million in 2024, contributing to an adjusted gross margin of 78%, up from 64% in 2023 [10][30] - Operating expenses were reduced by 6% to $9.7 million in 2024, leading to a net loss improvement to $4.3 million or $2.85 per share, compared to a net loss of $8.5 million or $21.21 per share in 2023 [11][30] Business Line Data and Key Metrics Changes - License fee revenue in Q4 2024 increased by 77% to $1 million, while lower-margin services revenue decreased by 28% to $344,000 [27] - Hardware revenue declined significantly by 88% to $94,000 in Q4 2024, reflecting a lack of large expansion orders compared to the previous year [27][30] Market Data and Key Metrics Changes - The company is seeing increased demand for its passwordless, phoneless, and tokenless authentication solutions, particularly in the Middle East and Asia [14][20] - A notable contract was secured with a foreign financial services client worth $910,000, enhancing the company's presence in the financial sector [15] Company Strategy and Development Direction - The company has exited low-margin software and services relationships to focus on core solutions like PortalGuard IAM and identity-bound biometrics, which offer higher gross margins [9][10] - There is a strategic focus on expanding into emerging markets, including IoT solutions and partnerships with innovative technology developers [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, citing encouraging order activity and customer interest in their solutions [12][20] - The company anticipates a return to growth and improved profitability in 2025, with a focus on managing operating costs and investing in R&D [23][49] Other Important Information - The company reduced its outstanding debt to approximately $730,000 from $1.5 million at the end of 2024, strengthening its financial position [7] - The company launched PortalGuard IDAS on the AWS marketplace, enhancing its subscription-based business model [22] Q&A Session Summary Question: Clarification on 10-K filing and restatements - The company confirmed that the 10-K is expected to be filed on Monday and that there are no new restatements beyond those previously disclosed [34][35] Question: Changes in revenue expectations for 2024 - Management explained that the exit from the Swivel Secure business resulted in a revenue delta of about $800,000 to $900,000 for the full fiscal year, impacting overall revenue expectations [39][41] Question: Outlook for hardware and services revenue - Management indicated that growth is expected in both hardware and services revenue in 2025, with hardware sales becoming more integrated into contracts [55] Question: Details on the $910,000 contract - A significant portion of the $910,000 contract will be recognized in Q1 2025, with about $250,000 recognized in Q4 2024 [57] Question: Update on Nigerian ID plans - Management noted ongoing discussions with the World Bank regarding ID plans in Nigeria, with potential for future sales of hardware [68][72]

Financial Data and Key Metrics Changes - Telesat reported revenues of $571 million for the full year 2024, with adjusted EBITDA of $384 million and cash from operations of $62 million, outperforming guidance [21] - In Q4 2024, revenues were $128 million and adjusted EBITDA was $73 million, down $38 million and $50 million respectively from Q4 2023 [22] - The adjusted EBITDA margin decreased to 57.4% in Q4 2024 from 74.3% in Q4 2023, with the GEO segment adjusted EBITDA margin at 78% compared to 82.2% in the same period [22][23] - A net loss of $447 million was recorded in Q4 2024, compared to a net income of $39 million in Q4 2023, primarily due to foreign exchange impacts [25] Business Line Data and Key Metrics Changes - The GEO business is expected to face continued revenue pressure in 2025, with a forecasted decline of approximately $155 million, largely due to lower rates from the DTH business and the end of service contracts [9][10] - The enterprise and consulting activities are also expected to contribute to revenue decline, particularly from maritime and aero markets due to competition from Starlink [10][11] - Operating expenses for Lightspeed are anticipated to increase by approximately $40 million in 2025, driven by investments in engineering and operations [11] Market Data and Key Metrics Changes - The enterprise business has seen significant revenue declines, with a drop of $93 million in 2024, attributed to competition from Starlink and the sale of the Infosat business [72][80] - The company expects continued headwinds in the enterprise space in 2025, with a shift from GEO to LEO impacting revenues [80] Company Strategy and Development Direction - Telesat is focused on disciplined execution in both GEO and LEO markets, with a strong emphasis on building out and commercializing the Lightspeed constellation [12][15] - The company has secured funding from the governments of Canada and Quebec for Lightspeed, investing over $1 billion in development and deployment in 2024 [7][21] - Telesat is optimistic about the market for commercial services, particularly in light of geopolitical shifts increasing demand for sovereign national security requirements [14][15] Management's Comments on Operating Environment and Future Outlook - Management anticipates a challenging operating environment for the GEO business to persist in 2025, with a focus on mitigating market pressures [8][12] - The company is optimistic about the potential for Lightspeed, expecting to launch the first batch of satellites in late 2025 and seeing strong traction with prospective customers [13][14] - Management highlighted the importance of refinancing restricted group debt as a priority for the year [15][58] Other Important Information - Telesat ended 2024 with $552 million in cash on the balance sheet and a total leverage ratio of 6.68 times [21][31] - The company repurchased $262 million in debt during 2024, resulting in annual interest savings of approximately $54 million [27] Q&A Session Summary Question: Can you provide insight on the geopolitical shifts affecting discussions? - Management noted that discussions have accelerated due to a greater focus on sovereign customers needing access to advanced LEO networks, particularly in Canada [36][42] Question: What is the current backlog for Lightspeed? - Management indicated that the LEO backlog is around $600 million, including a significant agreement with the government of Canada, and expects it to grow significantly by the end of the year [44][50] Question: What is the update on debt restructuring? - Management confirmed that refinancing restricted group debt is a priority and is expected to be tackled sooner rather than later [56][58] Question: How does the GEO revenue decline look for 2026? - Management has not projected far into 2026 but noted that the GEO business is predictable, with visibility on major contract renewals [60][62] Question: What is the state of the enterprise business? - Management acknowledged challenges in the enterprise segment due to competition and the aging satellite fleet, but remains optimistic about future opportunities with Lightspeed [80][112]

Spectral AI (MDAI) Q4 2024 Earnings Call March 27, 2025 05:00 PM ET Company Participants Sara Prendergast - Assistant General CounselMichael DiMaio - Chairman of BoardVince Capone - CFO & General CounselCarl Byrnes - Managing DirectorJihang Wang - Director of Data ScienceJeffrey Carter - Chief Medical Consultant Conference Call Participants Ryan Zimmerman - Managing Director & Medical Technology AnalystJohn Vandermosten - Senior AnalystSwayampakula Ramakanth - Managing Director & Senior Equity Analyst Opera ...

The Beachbody Company (BODI) Q4 2024 Earnings Call March 27, 2025 05:00 PM ET Company Participants Bruce Williams - Managing DirectorMark Goldston - Executive ChairmanCarl Daikeler - Co-Founder, Chairman & Chief Executive OfficerBrad Ramberg - Interim Chief Financial OfficerJohn-Paul Wollam - Equity Research Associate Conference Call Participants Susan Anderson - Managing Director & Senior AnalystGowshihan Sriharan - Analyst Operator I would now like to pass the conference over to your host, Bruce Williams, ...

Financial Data and Key Metrics Changes - For Q4 2024, total revenue increased by 40% year-over-year to $33.2 million, with adjusted net income growing by 126% to $13.4 million and adjusted EBITDA rising by 51% to $16.6 million [10][28][29] - For the full year 2024, total revenue rose by 69% to $111.9 million, adjusted net income increased by 58% to $46.5 million, and adjusted EBITDA grew by 57% to $61.6 million [11][26][29] Business Line Data and Key Metrics Changes - Policy originations increased by 63% to 1,034 in 2024, with capital deployed exceeding $344 million [12] - Active management revenue was a significant driver of revenue growth, attributed to increased capital deployment and more policies sold directly to third parties [26][27] Market Data and Key Metrics Changes - The company successfully completed acquisitions that added approximately $2.6 billion in assets under management, enhancing its market reach and capabilities [14][15] - The company reported a strong liquidity position with cash and cash equivalents of $128.8 million as of December 31, 2024 [31] Company Strategy and Development Direction - The company aims to revolutionize financial services through expert asset management and advanced technology, focusing on providing tailored financial solutions [18][17] - The rebranding to Abacus Global Management reflects the company's evolution and global market presence, with a commitment to maintaining momentum in the alternative asset management space [17][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a full-year 2025 adjusted net income between $70 million and $78 million, indicating growth of 51% to 68% compared to 2024 [13][32] - The management highlighted the positive impact of market volatility on origination interest, as individuals seek liquidity and investors look for unique assets [68][71] Other Important Information - The company announced management fee reductions across all ETFs and an 18-month fee waiver on four ETFs to enhance competitiveness [17] - The company has initiated a strategy to simplify its capital structure, including private warrant exchange agreements [22] Q&A Session Summary Question: Key swing factors and assumptions for guidance range - Management clarified that the guidance range does not depend on the full draw of the $50 million revolver, emphasizing strong origination as a key driver [38] Question: Update on direct channel metrics post-advertising adjustments - Management confirmed that advertising was not paused but targeted to non-swing states, resulting in positive impacts on policy origination [42][43] Question: Deployment of capital from recent equity and debt offerings - Management indicated that a significant amount of capital was deployed successfully, with a strong cash position remaining at year-end [48] Question: Strategy for holding policies on the balance sheet - Management stated that policies on the balance sheet are expected to hover around $370 million to $450 million as policies are bought and sold [56] Question: Update on the carrier buyback program - Management reported continued expansion of the carrier buyback program, anticipating growth in 2025 [62] Question: Changes in behavior of individuals life-settling policies - Management noted that market volatility tends to increase interest in liquidity options, positively impacting origination [68][71] Question: Year-end AUM at Carlisle and FCF - Management expressed optimism about the growth of AUM from the acquisitions, with significant interest in new offerings [76][78]

Financial Data and Key Metrics Changes - In Q4, consolidated revenues increased by 13% sequentially over Q3, with full-year revenues doubling compared to 2023 [8] - Operating expenses in Q4 rose due to hiring for new campuses and non-cash accruals for ground lease expenses, which amounted to over $1.4 million [9][11] - The company expects to reach cash flow break-even on a consolidated basis in Q4 of this year [12] Business Line Data and Key Metrics Changes - The wholly-owned Scarborough Capital subsidiary's revenues were flat from Q3 to Q4, but a significant increase in revenues is expected in Q2, Q3, and Q4 of this year as new campuses ramp up [15] - Adjusted EBITDA is now being reported as a key business metric, providing insights into operating performance and debt service capabilities [19][20] Market Data and Key Metrics Changes - The company reported strong liquidity with approximately $127 million in cash and U.S. Treasury bills, excluding $32 million used for acquisitions [27] - The long bond trading has shown positive trends, with ongoing interest from bondholders [28] Company Strategy and Development Direction - The company aims to secure investment-grade ratings for existing bonds and expects future debt service coverage ratios to exceed previous forecasts [29] - The focus for 2025 is on acquiring the best revenue-producing airfields in the country, with a strong emphasis on quality and speed in construction [62][64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential for significant acceleration in ground lease signings, with the pace of site acquisitions growing exponentially [70] - The company is not rushing to implement additional revenue streams, focusing instead on securing marquee airport sites and optimizing offerings for residents [74] Other Important Information - The company has begun the process of seeking investment-grade ratings for its existing bonds, which is expected to positively impact future financing [29][92] - The introduction of RapidBuilt is aimed at increasing the quality and speed of development, with potential opportunities to expand to clients outside of Sky Harbor in the future [95][96] Q&A Session Summary Question: Potential for 50 campuses in three to five years - Management indicated that if guidance is met, they would be halfway to this goal by the end of the year, with an exponential growth in site acquisition wins [70] Question: Expectations on price per square foot for new locations - Most new locations are expected to be greenfields, with additional revenue streams not prioritized at this time [75] Question: Campus development progress in 2026 - Management anticipates continuing at least the same pace as 2025, with a potential range of six or more airports [78] Question: Step-up in rents and existing tenant leases - Management noted that the step-up from the second lease to the third is expected to be less dramatic, with inflation being a guiding factor for future leases [80][82] Question: Funding gap for square footage in development - The company is deliberate in its capital raising plan, aiming to maintain a 12 to 18-month capital cushion ahead of deployment [86] Question: Update on raising $150 million - The company is in the process of a feasibility study and has received interest from institutional investors regarding potential debt financing [92] Question: Interest rate expectations for upcoming bond issuance - Current market conditions suggest new issuances may come at a slightly higher yield than existing bonds, with efforts to secure investment-grade ratings expected to positively influence this [102] Question: Impact of tariffs on procurement - Management confirmed that while there have been increases in steel prices due to tariffs, they had preemptively placed large orders to mitigate impacts [120]

PLUS THERAPEUTICS, Inc. (PSTV) Q4 2024 Earnings Conference Call March 27, 2025 05:00 PM ET Company Participants Sherry - Conference Call ModeratorDr. Mark Hedrick - President and Chief Executive OfficerAndrew Sims - Chief Financial OfficerEdward Wu - Accedient Capital (Caller)Jason Colbert - Deep World Capital (Caller - via Lindsay)Sean Lee - HC Wainwright (Caller) Dr. Mark Hedrick Final remarks, so after Q&A, just turn it back to me for a few seconds, please. Sherry Good afternoon, ladies and gentlemen. We ...

The Beachbody Company, Inc. (BODY) Q4 2024 Earnings Conference Call March 27, 2025 05:00 PM ET Company Participants Tania - ModeratorBruce Williams - Managing Director, ICRMark Goldston - Executive Chairman, The Beachbody CompanyCarl Deichler - Co-Founder and Chief Executive Officer, The Beachbody CompanyBrad Ramberg - Interim Chief Financial Officer, The Beachbody Company Conference Call Participants Susan Anderson - Analyst, Canaccord GenuityJP Wallum - Analyst, Roth Capital PartnersNgochi Sri - Analyst, ...