Levi Strauss & Co (NYSE:LEVI) Q4 2025 Earnings call January 28, 2026 05:00 PM ET Company ParticipantsAida Orphan - VP of Investor RelationsBrooke Roach - Managing DirectorGabriella Garr - Equity Research AssociateHarmit Singh - EVP and Chief Financial and Growth OfficerJay Sole - Managing DirectorLaurent Vasilescu - Managing DirectorMichelle Gass - CEOPaul Lejuez - Managing DirectorRick Patel - Managing DirectorConference Call ParticipantsBob Drbul - Managing Director and Consumer Retail AnalystMatthew Boss ...

Financial Data and Key Metrics Changes - Total revenue for 2025 was $2.133 billion, a 0.5% increase compared to 2024, and a 1.1% increase on a comparable adjusted basis [18] - GAAP net income improved to $85.3 million, or $1.87 per share, up from $52.9 million, or $1.18 per share in 2024 [18] - Comparable adjusted EBITDA was $431.5 million, a 6.2% increase from the previous year, with adjusted EBITDA margins expanding by 90 basis points to 20.2% [18][19] - Comparable adjusted EPS grew by 12.6% to $3.67 from $3.26 in 2024 [19] Business Line Data and Key Metrics Changes - Merchant services revenue for 2025 was $398.6 million, growing by 3.8% compared to 2024, with adjusted EBITDA at $85.9 million, a 9.4% increase [19][20] - B2B payment segment revenue finished at $290.5 million, reflecting a 0.9% growth, with adjusted EBITDA at $64.4 million, a 12.8% increase [22][23] - Data-driven marketing business revenue reached $307.3 million, a 31.3% increase year-over-year, with adjusted EBITDA at $86.4 million, reflecting a 28.1% margin rate [25][26] - Print business revenue was $1.14 billion, a decline of 5.7% compared to the previous year, with adjusted EBITDA at $366.9 million, a 2.6% decline [28][29] Market Data and Key Metrics Changes - Payments and data now account for 47% of total revenue, up from 43% a year ago, with expectations to achieve revenue parity with print businesses later in 2026 [5][7] - The data segment expanded its revenue by over 30% year-over-year, indicating strong demand across market verticals [8] - The print segment continues to experience secular decline, with legacy check revenue declining by 1.8% [28] Company Strategy and Development Direction - The company is focused on shifting its revenue mix towards payments and data, aiming for ongoing profitable growth [6][7] - There is a strong emphasis on driving operational efficiencies and improving margins across all business segments [13][14] - The company aims to increase cash flow generation to lower net debt and improve leverage ratios, with a target of achieving a leverage ratio of 3 times or lower [15][32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating environment, noting traditional consumer behavior patterns stabilizing [46] - The company anticipates continued growth in the data segment, with expectations for double-digit growth in the first half of 2026 [49] - Management highlighted the importance of executing their strategic priorities to achieve a strong trajectory heading into 2026 [39] Other Important Information - The company generated $175 million of free cash flow in 2025, achieving its 2026 goal a year early [5] - The board approved a regular quarterly dividend of $0.30 per share, payable on February 23, 2026 [34] Q&A Session Summary Question: How is Deluxe positioned to respond to trends in AI and agentic commerce? - Management stated that Deluxe is well-positioned, having applied AI technology across multiple business areas, leading to improved performance and significant revenue growth in the data-driven marketing business [42][44] Question: What are the primary objectives for the business in 2026? - The main objectives include shifting the revenue mix towards payments and data, driving operational efficiency, and generating cash flow to lower debt [55][56] Question: What does the pipeline look like for 2026 in terms of distribution growth? - Management indicated a robust pipeline for the ISV distribution channel, with ongoing investments in improving API suites and reporting tools [57][58] Question: What are the opportunities for build versus buy decisions in investments? - Management emphasized a balanced approach, making responsible acquisitions while also focusing on internal capability development to enhance business growth [65][66]

Financial Data and Key Metrics Changes - The company reported record quarterly earnings of $7.4 million or $0.52 per diluted share, an increase of $3.1 million compared to the prior quarter earnings of $4.3 million [43] - The net interest margin was 4.33% for 2025, compared to an industry average of approximately 3.7% [44] - The GAAP gain on sale increased from 3.24% to 3.98% in the fourth quarter, with expectations to trend above 4% in 2026 [45] Business Line Data and Key Metrics Changes - The credit card program experienced a transaction volume of approximately $99 million in the fourth quarter, down from $130 million in previous quarters due to fraud prevention measures [7][11] - The SBA division had a record year for production, with a significant increase in loan production and a healthy pipeline going into the new year [45] - The company implemented changes to incentivize higher spreads in loan sales, resulting in improved gain on sale income [31][32] Market Data and Key Metrics Changes - The company noted that credit cards account for about 30% of all payments in the U.S., which amounts to approximately $6 trillion annually [15] - The company is targeting a significant market share in the gaming fintech sector, with plans to onboard more gaming operators and slot machines [29][75] Company Strategy and Development Direction - The company is focusing on enhancing its gaming fintech operations, particularly through the Bold Bets product, which is expected to significantly grow non-interest-bearing deposits [44][20] - The company is also working on improving its credit card systems and fraud prevention measures to facilitate growth in transaction volumes [11][46] - The company aims to replace $400 million in costly deposits with more efficient SBA originations and guaranteed loan sales [39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the credit card program, projecting a possible increase in originations from $400 million to $800 million within a year [58] - The management acknowledged challenges in the market, including competition from major platforms like FanDuel and DraftKings, but remains optimistic about capturing market share [59] - The company is adapting to recent interest rate changes and is focused on maintaining strong credit quality and liquidity [49][47] Other Important Information - The company has reorganized its credit card operations and engaged new leadership to enhance its technology capabilities [41][42] - The company sold off about $52 million in investment securities during the quarter to better protect against interest rate fluctuations [48] Q&A Session Summary Question: Can you provide insight into the credit card program's potential for interchange volumes this year? - Management indicated that despite previous challenges, they expect significant growth in credit card originations, potentially doubling from $400 million to $800 million [58][59] Question: What are the expectations for SBA loan volumes and gain on sale margins moving forward? - Management expressed confidence in continued growth for the SBA platform, supported by a strong broker network and incentivization strategies [60][62] Question: Was there any change in provisioning for the fourth quarter related to non-guaranteed NPAs? - Management confirmed adjustments to the Q factors for SBA loans, resulting in a reduction of reserves based on historical performance analysis [64][66]

Financial Data and Key Metrics Changes - SEI reported earnings per share (EPS) of $1.38 for Q4 2025, marking the highest quarterly earnings performance in the company's history, with a 16% year-over-year increase and a 6% sequential increase [3][12] - The company achieved double-digit earnings growth for the year and over a full percentage point of operating margin expansion [13][21] - Consolidated operating margins were impacted by severance and M&A costs but showed significant improvement when excluding these costs [15][21] Business Line Data and Key Metrics Changes - Private Banking segment reported $28 million in net sales events, driven by strong performance and new professional services wins [4][16] - Investment Manager Services (IMS) segment benefited from a $3 million revenue accrual true-up, with overall revenue and margins increasing significantly [13][14] - Asset Management segments experienced sequential growth due to market appreciation and healthy flows, despite some client losses in the institutional segment [14][18] Market Data and Key Metrics Changes - Assets Under Management (AUM) grew by 2% and Assets Under Administration (AUA) grew by 3%, supported by strong win momentum and market appreciation [18] - The integrated cash program contributed $21 billion to revenue, matching levels from the prior year and quarter [14] Company Strategy and Development Direction - SEI is focusing on expanding its investment management product launches, particularly in ETFs, SMAs, and select alternative products, with over $1 billion of net inflows into ETFs this year [8] - The company is leveraging automation and AI to lower unit costs and expand access to solutions, supporting entry into underserved segments [9] - SEI aims to double down on successful strategies and continue to build on its integrated approach to capture new flows and deliver greater client value [8][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sales momentum and expects positive developments in the IMS business by the next earnings call [5][25] - The company is committed to returning 90%-100% of free cash flow to shareholders through dividends and share repurchases, ending the year with $400 million in cash and no debt [19][21] - Management highlighted the importance of maintaining a disciplined approach to investments and cost efficiency while pursuing long-term double-digit earnings growth [21] Other Important Information - SEI completed a significant share repurchase of $101 million in Q4, totaling $616 million for the year, representing nearly 6% of total shares outstanding [19] - The company achieved a major milestone with the first close of its Stratos partnership, enhancing its capabilities in the advisor channel [6][7] Q&A Session Summary Question: Can you provide more color on the sales events from ALTs? - Management indicated that the sales events were a mix of new business and expanding relationships with current clients, with strong pipeline momentum expected to continue into 2026 [25][27] Question: What drives the gap between net recurring and non-recurring sales? - The gap is primarily driven by the growth of the professional services strategy, with many engagements being characterized as one-time professional services [29][30] Question: How should we think about the margin in the private banking segment? - Management expects margins to remain in the high teens range, influenced by the mix of professional services and platform revenues [36][37] Question: What is the impact of workforce reductions on expenses? - The reduction in compensation from workforce reductions is expected to offset annual compensation increases, resulting in a flattish impact on overall expenses [45][46] Question: How significant is the UK market for the institutional business? - The UK market is considered important but is a fraction of the overall institutional business, with ongoing efforts to grow this segment [59][60]

Fair Isaac (NYSE:FICO) Q1 2026 Earnings call January 28, 2026 05:00 PM ET Company ParticipantsAlexander Hess - VP of Equity ResearchDave Singleton - VP of Investor RelationsFaiza Alwy - Managing DirectorKevin McVeigh - Managing DirectorKyle Peterson - Managing Director and Equity ResearchOwen Lau - Managing DirectorRayna Kumar - Managing DirectorRyan Griffin - VP of Equity ResearchSammy Zhang - Equity ResearchScott Wurtzel - Director of Equity ResearchSteve Weber - CFOWill Lansing - CEOConference Call Parti ...

Financial Data and Key Metrics Changes - The company reported record quarterly earnings of $7.4 million or $0.52 per diluted share, an increase of $3.1 million compared to the prior quarter earnings of $4.3 million [39] - The net interest margin was 4.33% for 2025, compared to an industry average of approximately 3.7% [40] - The GAAP gain on sale increased from 3.24% to 3.98% in the fourth quarter, with expectations to trend above 4% in 2026 [41] Business Line Data and Key Metrics Changes - The credit card program saw a transaction volume of approximately $99 million in the fourth quarter, down from $130 million in the previous quarters due to fraud prevention measures [6][10] - The SBA had a record year for production, with a significant increase in loan production and a healthy pipeline going into the new year [41] - The company implemented changes to incentivize higher spreads in loan sales, resulting in improved gain on sale income [28][41] Market Data and Key Metrics Changes - The company noted that credit cards account for about 30% of all payments in the U.S., which is approximately $6 trillion annually [13] - The company is targeting a significant market share in the gaming sector, with 150,000 slot machines in Nevada and 800,000 across the country [25][26] Company Strategy and Development Direction - The company is focusing on enhancing its Gaming FinTech operations, particularly through the BoltBetz product, which is expected to significantly grow non-interest-bearing deposits [40][24] - The company is also working on improving its credit card systems and fraud prevention measures to support future growth [10][42] - The company aims to replace $400 million in costly deposits with more SBA originations and guaranteed loan sales [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the credit card program, projecting a possible increase in originations from $400 million to $800 million within a year [54] - The management highlighted the importance of fraud prevention measures and the positive contribution of the credit card program to the bank's bottom line despite recent challenges [42] - The company is optimistic about the future of its SBA loans, citing strong collateral and a low default rate [33] Other Important Information - The company has reorganized its credit card operations and engaged new leadership to enhance its technology capabilities [37][38] - The company sold off about $52 million in investment securities during the quarter to better protect against interest rate changes [44] Q&A Session Summary Question: Can you provide insight into the potential for interchange volumes this year? - Management indicated that while they are not providing specific guidance, they expect significant growth in credit card originations, potentially doubling from $400 million to $800 million [54][55] Question: Should we expect continued improvement in gain on sale margins for the SBA platform? - Management confirmed that they expect growth in SBA volumes and have incentivized their team to achieve higher GAAP gain on sale margins [58][59] Question: Was there any change in the Q factor for the ACL that drove the negative provision? - Management noted adjustments in the Q factors based on historical analysis of the SBA loans, leading to a reduction in reserves [60][61]

Financial Data and Key Metrics Changes - Revenue in Q2 increased by 12.4% to $503.4 million, driven by all three segments, with Walden contributing significantly due to a one-week academic calendar shift [17][26] - Adjusted EBITDA grew to $154.9 million, up 23.9% year-over-year, with an adjusted EBITDA margin of 30.8%, expanding 290 basis points from last year [18][25] - Adjusted net income for the quarter was $87.9 million, a 26.7% increase compared to last year, with adjusted earnings per share rising to $2.43, a 34.3% increase [19][20] Business Line Data and Key Metrics Changes - Chamberlain reported revenue of $183.8 million, a 1.6% increase, but total student enrollment declined by 1% [22] - Walden's revenue reached $217.6 million, a 27% increase, with total student enrollment up 13% [23] - The Medical and Veterinary segment generated $102 million in revenue, a 6.9% increase, with adjusted EBITDA increasing by 17.6% [24][25] Market Data and Key Metrics Changes - Total enrollment across the company grew over 6% to 97,000 students, with Walden achieving record total enrollments of 52,400 students [7][11] - Chamberlain's pre-licensure BSN programs have grown for 14 consecutive quarters, while post-licensure programs faced declines [22][10] Company Strategy and Development Direction - The company is focused on addressing the healthcare workforce crisis by expanding capacity and creating new revenue streams [6][7] - A disciplined, returns-focused approach to capital allocation is being maintained, with $165 million deployed to share repurchases [4][20] - The upcoming Investor Day will outline a multi-year growth framework and capacity expansion plans [7][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year revenue guidance of 6%-8.5% growth and raised adjusted EPS guidance to 17%-20% growth [4][27] - The healthcare workforce crisis is intensifying, creating opportunities for the company to expand its role in healthcare education [6][7] - Management noted that application volumes for nursing programs are up, indicating potential future enrollment growth [10][39] Other Important Information - The company repurchased 1.7 million shares at an average price of $95, completing a prior $150 million authorization and announcing a new $750 million authorization [20] - The trailing twelve months operating cash flow generation reached $428 million, up $146 million year-over-year [20] Q&A Session Summary Question: Update on Walden's growth and market share - Management noted balanced growth across programs, particularly in behavioral sciences and nursing, indicating potential market share gains [32] Question: Regulatory changes and partnership with Sallie Mae - Management confirmed ongoing work with Sallie Mae on documentation for a partnership to provide loan dollars, particularly for the medical and veterinary segment [33] Question: Chamberlain's enrollment and marketing effectiveness - Management discussed improvements in application volumes and marketing effectiveness, expressing confidence in a positive enrollment trajectory for the fall cycle [39][40]

Financial Data and Key Metrics Changes - The company delivered 3,435 residential units in Q4 2025, exceeding guidance, with a total of 10,792 units delivered for the full year [4] - Net income for Q4 was $36 million, or $1.21 per diluted share, with adjusted net income at $47 million, or $1.59 per diluted share [19] - Home sales revenues for Q4 reached $1.1 billion, up 16% sequentially, while average sales price decreased by 5% to $367,000 [19] Business Line Data and Key Metrics Changes - The Century Living segment contributed to revenues with the sale of a 300-unit multifamily community for $97 million [20] - The company repurchased over 7% of its shares outstanding at the beginning of the year, totaling 2.3 million shares for $178 million [5][25] Market Data and Key Metrics Changes - The average community count increased by 13% to 318 communities in 2025, with expectations for low- to mid-single-digit percentage growth in 2026 [12][14] - The mortgage capture rate was 84% for both Q4 2025 and the full year, representing records for the company [23] Company Strategy and Development Direction - The company plans to maintain a disciplined approach to growth, focusing on existing lot counts and not expanding for the sake of growth alone [7] - The land acquisition and development expense is expected to remain flat in 2026, with the ability to adjust based on market conditions [15][16] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the spring selling season, noting improved order activity and potential consumer interest [29][31] - The company anticipates that any interest rate relief or governmental support for homebuyers could unlock buyer demand [7] Other Important Information - The company maintained a quarterly cash dividend of $0.29 per share and ended the year with $2.6 billion in stockholders' equity [24] - The company achieved a record book value per share of $89 at the end of Q4 2025 [5][25] Q&A Session Summary Question: Insights on the spring selling season - Management noted that while January sales pace has been slower compared to the previous year, order activity has improved sequentially, and they are hopeful for a better spring selling season [29][30] Question: Expectations for gross margin - Management indicated that gross margins may see a slight pullback due to incentives but expect to revert to a more balanced approach in the future [41][42] Question: Community count growth - Management expects community count to grow steadily throughout the year, particularly in the middle and back half of the year [33] Question: Stock repurchase authorization - Approximately 1.5 million shares remain under the stock repurchase program [45] Question: SG&A as a percentage of sales - SG&A is expected to be 14.5% in Q1 2026, higher than previous levels due to typical seasonal trends [51][52]

ServiceNow (NYSE:NOW) Q4 2025 Earnings call January 28, 2026 05:00 PM ET Company ParticipantsAmit Zavery - President, Chief Product Officer, and COOBill McDermott - Chairman and CEODarren Yip - SVP of Investor Relations and Market InsightsGina Mastantuono - President and CFOKeith Weiss - Managing DirectorPatrick Walravens - Managing DirectorSamad Samana - Managing DirectorConference Call ParticipantsAlex Zukin - Managing Director and Senior AnalystBrian Schwartz - Managing Director and Senior AnalystGabriel ...

LendingClub (NYSE:LC) Q4 2025 Earnings call January 28, 2026 05:00 PM ET Company ParticipantsArtem Nalivayko - VP, Head of FPandA, and Investor RelationsDavid Scharf - Managing DirectorDrew LaBenne - CFOGiuliano Bologna - Managing DirectorJohn Hecht - Managing DirectorKyle Joseph - Managing Director and Senior Equity ResearchScott Sanborn - CEOVincent Caintic - Managing DirectorConference Call ParticipantsTimothy Switzer - VP and Senior Equity Research AnalystOperatorLadies and gentlemen, thank you for join ...