Tyler Technologies (NYSE:TYL) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsBrian K. Miller - CFOHala Elsherbini - Senior Director of Investor RelationsLynn Moore - President and CEOConference Call ParticipantsAdam Hotchkiss - Equity Research AnalystAlex Zukin - Equity Research AnalystAlexei Gogolev - Equity Research AnalystAndrew Sherman - Equity Research AnalystCharlie Strauzer - Equity Research AnalystClarke Jeffries - Equity Research AnalystJonathan Ho - Equity Research Analyst ...

Financial Data and Key Metrics Changes - For the fiscal first quarter ended December 31, 2025, the company generated $12 million in revenue, down from $15.7 million in the same period last year [34] - Product revenue decreased to $6.7 million from $11 million, primarily due to the absence of one-time transactions totaling approximately $4.5 million from the previous year [34] - Service revenue increased by 14.6% to $5.3 million from $4.7 million year-over-year [34] - Gross profit for the quarter was $4.7 million, slightly up from $4.6 million, with gross profit margins increasing to 39.3% from 29.1% [35] - Net income for the first quarter was $91,000 compared to $42,000 in the prior year, with diluted earnings per share at $0.01, down from $0.05 [36] Business Line Data and Key Metrics Changes - The technology solutions business continues to lead progress, with strong performance in managed cloud and managed service practices [6][28] - The managed service practice signed new customers expected to generate nearly $100,000 in monthly revenue starting this quarter [7][29] - The AZT Protect product suite achieved year-over-year revenue growth, serving 46 unique customers, with potential for multi-site installations [30] Market Data and Key Metrics Changes - The company is benefiting from the trend of organizational migration to the cloud, with increasing demand for operational support services post-migration [7][28] - The market for cybersecurity solutions is expanding, with the company positioned as a resource for enterprises facing operational technology cybersecurity challenges [31] Company Strategy and Development Direction - The strategic focus is on expanding service revenue and growing the monthly recurring revenue (MRR) base [5] - The company aims to leverage partnerships, particularly with Microsoft Azure, to enhance its managed service offerings [7][28] - Investments in the managed service practice are expected to yield returns through new customer acquisitions [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that fiscal 2026 will be a growth year, supported by infrastructure investments and a strong service segment [6][34] - The company anticipates generating substantial operating leverage as revenue grows, with a focus on maintaining high customer retention rates [8][34] Other Important Information - The company plans to pay a dividend of $0.03 per share on March 12, 2026, to shareholders of record as of February 26, 2026 [37] Q&A Session Summary Question: Clarification on service revenue categories - Management confirmed that service revenue includes multiple categories, with managed services being a significant portion [41][46] Question: Revenue predictability from Acronis integration - Management indicated that it is too early to quantify revenue from the integration with Acronis, as the APIs are still being built [67][68] Question: Share repurchase plans - Management confirmed plans to repurchase shares now that the blackout period has ended, indicating confidence in the company's stock [70][71] Question: Financing and customer repayment structure - Management clarified that the company continues to engage in financing roles with customers, which helps maintain strong relationships [87][88] Question: Multi-site customer approvals - Management provided insights into the timing of approvals for multi-site installations, indicating a growing frequency of such occurrences [90][92]

Financial Data and Key Metrics Changes - STAG Industrial reported a 4.3% growth in same-store cash NOI and a 6.3% increase in core FFO per share for 2025, outperforming budgeted metrics [5][12] - Core FFO per share for Q4 was $0.66, and for the year it was $2.55, reflecting a 6.3% increase compared to 2024 [11] - The company incurred a cash credit loss of 22 basis points in 2025, with a retention rate of 75.8% for the quarter and 77.2% for the year [12] Business Line Data and Key Metrics Changes - In Q4, STAG commenced 31 leases totaling 3 million sq ft, achieving cash and straight-line leasing spreads of 16.3% and 27.4%, respectively [11] - The company expects cash leasing spreads of 18%-20% for 2026, with 69% of the operating portfolio square feet already addressed for leasing [7][13] Market Data and Key Metrics Changes - The industrial supply backdrop improved, with deliveries down almost 35% compared to 2024, and STAG anticipates 180 million sq ft of deliveries in 2026 [5][6] - National vacancy rates are expected to peak in the first half of 2026, with an inflection point anticipated in the latter half of the year [6][21] Company Strategy and Development Direction - STAG plans to continue its focus on leasing and acquisitions, with a guidance range for acquisition volume set between $350 million and $650 million for 2026 [13][14] - The company raised its dividend by 4%, the largest increase since 2014, and modified the payment cadence from monthly to quarterly [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about economic growth and increased tenant activity, indicating a healthy demand across most markets [6][29] - The company is preparing for a record amount of square footage expiring in 2026, which is expected to drive leasing activity [7][21] Other Important Information - STAG's development platform includes 3.5 million sq ft of development activity, with 59% of this being completed developments [8] - The company has a strong pipeline of $3.6 billion in potential transactions, indicating healthy market conditions [22] Q&A Session Summary Question: Inquiry on leasing environment and occupancy expectations - Management acknowledged the potential for upside in leasing activity if current momentum continues, despite budgeting for a 100 basis points occupancy decline [18][20] Question: Discussion on acquisition visibility and timing - Management indicated that while the first quarter is typically slower, they are underwriting more transactions than in the previous year, with a strong pipeline [22][23] Question: Clarification on tenant activity and demand - Management confirmed that the current tenant activity reflects real demand, with increased interest from various sectors, including data centers [29][31] Question: Insights on market rent growth and concessions - Management noted that while market rent growth is expected to be modest, stronger markets may see slightly higher growth, with concessions remaining stable [71][60] Question: Update on development leasing guidance for 2026 - Management provided guidance for 957,000 sq ft of leasing in 2026, including a build-to-suit project [63]

Sylvamo (NYSE:SLVM) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsDon Devlin - Senior Vice President and CFOHans Bjorkman - Vice President of Investor RelationsJohn Sims - SVP and CFOConference Call ParticipantsDaniel Harriman - Equity Research AnalystGeorge Staphos - Equity Research AnalystMatthew McKellar - Equity Research AnalystOperatorGood morning. Thank you for standing by. Welcome to Sylvamo's fourth quarter 2025 earnings call. All lines have been placed on mute to prevent a ...

Lincoln Electric (NasdaqGS:LECO) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsAmanda Butler - VP of Investor Relations and CommunicationsAngel Castillo - Head Executive Director of US Machinery and Construction Equity ResearchGabriel Bruno - CFOSteven Hedlund - Chairman and CEOConference Call ParticipantsChris Dankert - SVP and Senior Equity AnalystMig Dobre - Managing Director, Senior Research Analyst, and Associate Director of ResearchNathan Jones - Managing Director and Senior ...

Financial Data and Key Metrics Changes - BGC Group reported record-breaking revenues for both the fourth quarter and full year 2025, with increases of 32% and 30% respectively, approaching $3 billion in total revenues [4] - Adjusted EPS grew by 24% under GAAP and 19% for adjusted earnings, with adjusted EPS rising by 71% to $1.18 per share since 2022 [4][7] - Pre-tax adjusted earnings grew by 24.5% to $161.3 million, representing a pre-tax margin of 21.3% [18] - Post-tax adjusted earnings increased by 21.1% to $149.6 million, resulting in a post-tax adjusted earnings per share of $0.31 [18] Business Line Data and Key Metrics Changes - Total brokerage revenues grew by 34.6% to $694.6 million, with ECS revenues increasing by 92% to $257.5 million, driven by the acquisition of OTC and strong organic growth [9] - Rates revenues increased by 16.4% to $197.4 million, while foreign exchange revenues rose by 9.8% to $102.8 million [10] - Fenics revenues increased by 15.4% to a record $163.9 million, driven by higher electronic volumes across rates products [11] - FMX UST generated record fourth quarter average daily volume of $58.7 billion, increasing market share to a record 39% [12] Market Data and Key Metrics Changes - EMEA revenue increased by 39.2%, Americas revenues increased by 25.7%, and Asia Pacific revenues increased by 24.2% [16] - FMX Futures Exchange saw record volumes in open interest, with ADV and open interest increasing 82% and 97% respectively compared to the previous quarter [12] Company Strategy and Development Direction - The company completed the first phase of its cost reduction program, expected to realize $25 million of annualized savings in 2026 [5][17] - BGC aims to focus on higher growth areas within its portfolio, having sold lower growth businesses to enhance shareholder value [28] - The company is positioned for continued success in 2026, with guidance indicating a revenue growth expectation of approximately 34% for the first quarter [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, citing strong market share gains and a favorable trading environment [25] - The outlook assumes no material acquisitions or dispositions, with expectations subject to change based on macroeconomic factors [3] - Management highlighted the importance of volatility in driving business growth, particularly in the energy sector [39] Other Important Information - The company anticipates pre-tax adjusted earnings for the first quarter of 2026 to be in the range of $202 million to $222 million, representing over 32% earnings growth [20] - Liquidity as of December 31 was $979.1 million, compared to $897.8 million at year-end 2024 [19] Q&A Session Summary Question: Inquiry about first quarter guidance and organic revenue growth - Management noted that core revenue growth has been consistent, driven by market share gains and a favorable trading environment [25] Question: Discussion on the sale of KACE and future divestitures - Management indicated that the sale was driven by shareholder value considerations and that they remain open to future divestitures if they do not meet growth expectations [28] Question: Inquiry about new client growth in the energy segment - Management confirmed an increase in new players entering the energy market, contributing to growth in the ECS business [34] Question: Question regarding FMX futures revenue recognition and treasury futures - Management stated that changes in fee structures for FMX futures will occur in the summer, and treasury futures will follow the success of SOFR [42][43] Question: Inquiry about additional fixed income products within Lucera - Management indicated that Lucera is expanding into credit markets, which could significantly contribute to future revenue growth [48]

Summary of Eledon Pharmaceuticals Conference Call Company Overview - **Company**: Eledon Pharmaceuticals (NasdaqCM:ELDN) - **Focus**: Development of immunosuppressive therapies for organ transplantation, particularly kidney and islet cell transplants Key Points from the Conference Call Phase 2 BESTOW Study Results - The Phase 2 BESTOW study showed promising outcomes, achieving a non-inferiority margin for a composite endpoint, which is crucial for Phase 3 approval [1] - Although the primary endpoint of kidney function was not met, the data indicated that the treatment outperformed standard care in various aspects [1][2] - Safety profile was significantly better, with a ninefold reduction in tremors and a sevenfold reduction in infection rates compared to standard care [3] Market Perception and Data Interpretation - The market may have underestimated the implications of missing the kidney function endpoint, as the approvable endpoint for kidney transplant studies is a composite endpoint unrelated to kidney function [4] - Acute rejection rates were higher in the tegoprubart arm (20%) compared to the tacrolimus arm (14%), but all rejections in the tegoprubart group occurred within the first six months [5] Phase 3 Study Planning - Eledon plans to request an end-of-phase 2 meeting with the FDA in late Q1 or early Q2 2026 to discuss the Phase 3 study design [10] - The primary endpoint for the Phase 3 study will focus on patient and graft survival, with a non-inferiority design [15][17] Long-term Data and Quality of Life Measures - Long-term follow-up data from a Phase 1b study showed no acute rejections and 100% survival, indicating potential for better long-term outcomes compared to standard care [7][8] - The Phase 3 study will include patient-reported outcomes to assess quality of life and toxicities associated with standard care [21] Commercial Opportunity - Eledon believes tegoprubart could become the new standard of care in transplantation, with potential applications in both allotransplant and xenotransplant settings [28] - The company aims to address the limitations of current therapies and believes that the infrastructure for drug administration has improved since previous launches [27] Islet Cell Program - The islet cell transplant program has shown promising results, with several patients achieving independence from insulin [31][32] - Eledon plans to transition this program into a sponsored study, with an IND filing expected by the end of 2026 [33][35] Xenotransplantation Developments - Eledon is collaborating on xenotransplantation studies, showing significant progress with genetically modified pig organs [41][42] - The company plans to supply tegoprubart as part of the immunosuppressive regimen for xenotransplantation, leveraging safety and efficacy data from ongoing studies [43] Financial Position and Future Milestones - Eledon has sufficient cash to fund operations through Q2 2027, with key milestones including the opening of INDs for kidney and islet cell transplant studies [50][51] - The company is committed to supporting ongoing research in xenotransplantation and other transplant-related studies [52] Additional Insights - The discussion highlighted the importance of managing immunosuppression protocols in clinical trials to ensure balanced treatment across study arms [23][24] - The potential for xenotransplantation to alleviate organ shortages presents a significant commercial opportunity, as many patients remain on waiting lists without receiving transplants [44]

Crane NXT (NYSE:CXT) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsAaron Saak - CEOChristina Cristiano - CFOMatt Roache - VP of Investor RelationsConference Call ParticipantsBobby Brooks - Equity Research AnalystIan Zaffino - Equity Research AnalystMatt Summerville - Equity Research AnalystMichael Halloran - Equity Research AnalystRobert Labick - Equity Research AnalystOperatorGood day, everyone, and welcome to Crane NXT fourth quarter and full year 2025 earnings call. At this time ...

Ameren (NYSE:AEE) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsAndrew Kirk - Senior Director of Investor Relations and Corporate ModelingLeonard Singh - EVP and CFOMarty Lyons - Chairman, President and CEOMichael Moehn - Group President, Ameren UtilitiesConference Call ParticipantsCarly S. Davenport - Equity Research AnalystDiana Niles - AnalystJulian Dumoulin-Smith - AnalystShahriar Pourreza - AnalystSophie Karp - Equity Research AnalystWilliam Apicelli - AnalystOperatorGood day, ...

Core Natural Resources (NYSE:CEIX) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsBob Braithwaite - Senior Vice President of Marketing and SalesDeck Slone - Senior Vice President of Strategy and Public PolicyJimmy Brock - Chairman and CEOMitesh Thakkar - President and CFOPaul Lang - Chief Operating OfficerConference Call ParticipantsChris LaFemina - Equity Research AnalystGeorge Eadie - Mining AnalystNathan Martin - Senior Equity Research AnalystNick Giles - Sebior Research AnalystO ...