Financial Data and Key Metrics Changes - IDEXX reported a 14% increase in revenue for Q4 2025, with 12% organic growth, driven by a 10% organic growth in CAG Diagnostics' recurring revenues [4][5] - Full-year EPS reached $13.08, up 14% year-over-year on a comparable basis, with Q4 EPS at $3.08, reflecting a 17% increase [5][12] - Operating margins for the full year were 31.6%, an increase of 90 basis points on a comparable basis [5][11] Business Line Data and Key Metrics Changes - CAG Diagnostics' recurring revenue grew 10% organically in Q4, with 13% organic growth in CAG and 10% in water [6][10] - IDEXX VetLab consumable revenues increased 15% organically in Q4, supported by a 12% increase in the global premium instrument install base [8][10] - Rapid Assay revenues declined 3% on an organic basis in Q4, while Global Reference Lab revenues expanded 9% organically [9][10] Market Data and Key Metrics Changes - U.S. CAG Diagnostics' recurring revenues increased 9% organically in Q4, with approximately 4% net price improvement and 5% volume growth [6][10] - International organic CAG Diagnostics recurring revenue growth was 12% in Q4, reflecting strong demand and new business expansion [7][10] - U.S. same-store clinical visit declines were approximately 1.7% in Q4 and 1.9% for the full year 2025, with wellness visits down 3.6% in Q4 [7][10] Company Strategy and Development Direction - IDEXX aims to deliver solid organic revenue growth and profit gains in 2026, with initial revenue guidance of $4.632 billion to $4.72 billion, reflecting a 7.6%-9.6% increase [14][15] - The company plans to expand its premium instrument install base, targeting 5,500 inVue Dx instruments in 2026 [16][19] - IDEXX is focused on enhancing its commercial capabilities in key international markets to drive diagnostics adoption and utilization [25][26] Management's Comments on Operating Environment and Future Outlook - Management noted that the human-animal bond continues to deepen, with pet owners prioritizing high standards of care despite economic challenges [24][38] - The company anticipates continued pressure on clinical visits but sees potential for growth in diagnostics frequency and utilization [24][41] - Management expressed confidence in the company's strategy and the opportunities ahead, emphasizing the importance of innovation and customer partnerships [38][39] Other Important Information - Full-year free cash flow was $1.1 billion for 2025, representing 100% of net income, with capital spending of $125 million [13] - The company plans for a consistent year-to-year tax rate, excluding share-based compensation effects, and expects a foreign exchange benefit of approximately $0.22 year-over-year [18][19] Q&A Session Summary Question: Insights on vet visit dynamics and pricing - Management observed headwinds primarily in wellness visits, attributing it to macroeconomic pressures, while non-wellness visits showed growth [41][43] - There is a recognition among corporate practices of the need to moderate pricing to drive demand and patient traffic [43][44] Question: Drivers of consumables growth - The growth in consumables is driven by an expanding installed base of premium instruments and increased utilization through innovation [49][51] - Management highlighted the importance of quality placements and the integration of new technologies in driving consumables growth [50][52] Question: Reference lab market share gains - Management indicated strong global performance in reference lab growth, supported by investments in infrastructure and innovation [54][56] - The company is seeing increased customer focus on patient care, leading to higher competitive submissions [56] Question: Innovation contributions to revenue - Management noted that while direct contributions from innovations like Cancer Dx are modest, the overall impact on the portfolio is significant [58][62] - The potential for expanding the Cancer Dx panel is estimated at $1.1 billion over time, indicating a large market opportunity [63]

Financial Data and Key Metrics Changes - The company reported record fourth-quarter revenue of $5.2 billion, an increase of 3% year-over-year on an adjusted basis [6][17] - Adjusted Operating Income totaled $607 million, with earnings per share at $1.86, reflecting a 6% increase from the prior year [7][18] - Operating cash flow was $818 million, with over half allocated to share repurchases and debt reduction [7][21] Business Line Data and Key Metrics Changes - Intelligent Systems segment revenue was $1.4 billion, a 2% increase year-over-year, but operating income declined by 17% due to investments and unfavorable FX [19][20] - Engineered Components segment revenue increased by 1% to $1.6 billion, with operating income up 8% and margin expanding by 60 basis points [20] - Electrical Distribution Systems (EDS) segment revenue grew by 5% to $2.3 billion, although operating income declined by 2% due to FX and commodities headwinds [20] Market Data and Key Metrics Changes - North America saw an 8% revenue growth, with double-digit growth in both Intelligent Systems and EDS [18] - European revenue decreased by 1%, while China revenue fell by 5%, reflecting unfavorable mix impacts [19] - Approximately 80% of new business awards in China were from local OEMs, indicating a shift in customer dynamics [19] Company Strategy and Development Direction - The company is focusing on penetrating non-automotive markets, leveraging trends in automation, electrification, and digitalization [4][5] - A significant emphasis is placed on enhancing the product portfolio and operational capabilities, including the launch of new innovations and partnerships in robotics [8][12] - The upcoming spin-off of the EDS business into VersaGen is expected to unlock value and enhance focus on core operations [5][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating a dynamic macro environment and highlighted the importance of operational efficiencies [4][30] - The outlook for 2026 includes expectations of revenue growth for both new Aptiv and VersaGen, with a focus on capturing higher-margin opportunities [23][26] - The company anticipates challenges from FX and commodity prices but remains optimistic about margin expansion in the long term [25][49] Other Important Information - The company finalized a leadership team for the EDS business, which is set to spin out as VersaGen on April 1 [5] - Full-year new business awards reached $27 billion, with expectations for 2026 bookings to exceed $30 billion [10][26] Q&A Session Summary Question: Insights on memory exposure and contract resets - The purchase value for memory is approximately $175 million, with expected low double-digit price increases in 2026 [35] Question: Guidance for new Aptiv into 2026 - The adjusted growth forecast for new Aptiv is 4%, with expectations for non-auto revenues to grow strongly [38][41] Question: EBITDA outlook for 2026 - EBITDA margins are expected to remain stable, with various factors impacting the outlook including commodity prices and investments [45][46] Question: Regional revenue performance expectations - North America is expected to lead revenue growth, while Europe may remain flat and China is anticipated to improve in the second half of the year [56] Question: Impact of EV volumes on VersaGen growth - The company expects EV growth of approximately 15% year-over-year, primarily driven by China [79]

Aptiv (NYSE:APTV) Q4 2025 Earnings call February 02, 2026 08:00 AM ET Company ParticipantsBetsy Frank - VP of Investor RelationsEmmanuel Rosner - Managing DirectorJames Picariello - DirectorJoe Liotine - CEO of VersigentJoseph Spark - Managing DirectorKevin Clark - CEOMark Delaney - Managing DirectorVarun Laroyia - CFOConference Call ParticipantsColin Langan - Senior Equity AnalystDan Levy - Senior Equity Research AnalystItay Michaeli - Equity Research AnalystOperatorGood day and Welcome to the Aptiv Q4 202 ...

Ermenegildo Zegna (NYSE:ZGN) Q4 2025 Earnings call February 02, 2026 08:00 AM ET Company ParticipantsGianluca Ambrogio Tagliabue - COOGildo Zegna - Executive ChairmanPaola Durante - Chief of External RelationsConference Call ParticipantsAdrian Duverger - AnalystAnthony Charchafji - AnalystBunmi Kanabar - AnalystChiara Battistini - AnalystChris Huang - AnalystDaria Nasledysheva - AnalystMaria Meita - AnalystNatasha Bonnet - AnalystOliver Chen - AnalystPaola DuranteHello everyone, and thank you for standing b ...

Financial Data and Key Metrics Changes - Revenue for Q1 increased to $103.7 million, representing a growth of 17% year-over-year and approximately 5% sequentially [21] - Gross margin improved to 52.0%, an increase of approximately four margin points compared to Q1 of Fiscal 2025 [21][25] - Adjusted EBITDA loss was approximately $13.4 million, an improvement of about $2.8 million versus Q1 of Fiscal 2025 [25] Business Line Data and Key Metrics Changes - DNA synthesis and protein solutions revenue rose to $51.1 million, a growth of 27% year-over-year, driven by demand from customers pursuing AI-enabled discovery [21] - NGS applications revenue grew to approximately $52.6 million, with an 18% year-over-year growth when excluding one large customer [21] - Revenue from therapeutics increased to approximately $37.2 million, reflecting a 39% increase year-over-year [22] Market Data and Key Metrics Changes - Americas revenue increased to approximately $58.4 million, a growth of 9% year-over-year [22] - AMEA revenue rose to approximately $38.4 million, a growth of 36% year-over-year [22] - Global supply partner revenue increased by 50% to $12.8 million, driven by new partnerships and growth in diagnostics OEM partners [24] Company Strategy and Development Direction - The company aims to leverage its semiconductor-based DNA synthesis platform to enhance speed, scale, quality, and affordability for customers [6] - The estimated serviceable market has expanded from approximately $2 billion in 2020 to roughly $7 billion today, with expectations to exceed $12 billion by 2030 [8] - The company is focused on disciplined product innovation and expanding its addressable markets while maintaining margin discipline and capital efficiency [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in reaching Adjusted EBITDA break-even by Q4 of Fiscal 2026, supported by consistent revenue growth and disciplined investment in operating expenses [29][30] - The company is well-positioned to capitalize on the growing demand for AI-enabled drug discovery and precision diagnostics [30] - Management noted that the growth is driven by a repeatable model and operational execution that scales efficiently [28] Other Important Information - The company plans to host an investor day in May to provide deeper insights into its strategy, product roadmap, and market expansion opportunities [30] - The company has made targeted investments in commercial teams and digital infrastructure to support growth [11][52] Q&A Session Summary Question: Demand for AI-driven discovery and its duration - Management noted that demand is expected to be durable, with customers returning for larger orders and the potential for AI to become the first pass in drug discovery [34] Question: Increased guidance confidence for DNA synthesis and NGS - Management indicated that confidence comes from overall strong performance across the board, with a specific customer dynamic in NGS applications having improved [39] Question: Gross margin expectations for Q2 and beyond - Management expects continued improvements in gross margin throughout the year, but at a moderated pace due to ongoing investments in capacity and automation [48] Question: Strategic investments made in the quarter - Investments were made in hiring sales and commercial personnel, as well as transient investments in digital infrastructure to enhance e-commerce capabilities [52] Question: New partnerships in the diagnostic space - Management is actively working on securing new partnerships for sustained growth in 2027 and beyond, while current growth in 2026 will primarily come from existing partners [58]

Ermenegildo Zegna (NYSE:ZGN) Q4 2025 Earnings call February 02, 2026 08:00 AM ET Company ParticipantsGianluca Ambrogio Tagliabue - COOGildo Zegna - Executive ChairmanPaola Durante - Chief of External RelationsConference Call ParticipantsAdrian Diverger - AnalystAnthony Charchafji - AnalystBunmi Kanabar - AnalystChiara Battistini - AnalystChris Huang - AnalystDaria Nasledysheva - AnalystMaria Meta - AnalystNatasha Bonnet - AnalystOliver Chen - AnalystPaola DuranteHello everyone, and thank you for standing by ...

Financial Data and Key Metrics Changes - The company reported fourth quarter revenue of $772 million, resulting in 4% organic growth, with a full year revenue of $2.86 billion, reflecting 3% organic growth [22][24] - Adjusted EPS for the fourth quarter was $1.70, exceeding the high end of expectations, while the full year adjusted EPS was $5.06, representing 3% growth year-over-year [10][24] - Adjusted operating margins for the fourth quarter were 29.7%, down 60 basis points year-over-year, while full year adjusted operating margins were 27.1%, down 120 basis points year-over-year [23][24] Business Line Data and Key Metrics Changes - The diagnostics segment generated $390 million in revenue for the fourth quarter, up 10% on a reported basis and 7% on an organic basis, with full year organic growth of 4% [28] - The life sciences segment reported revenue of $382 million in the fourth quarter, flat on an organic basis, with full year organic growth also at 2% [26][27] - The immunodiagnostics business grew in the high single digits organically in the fourth quarter, while the reproductive health business grew mid-single digits [28][30] Market Data and Key Metrics Changes - Geographically, the company experienced flat performance in both the Americas and APAC, while Europe saw double-digit growth [26] - For the full year, the Americas grew low single digits, Europe grew high single digits, and APAC declined in the low single digits [26] Company Strategy and Development Direction - The company plans to continue its focus on capital deployment, including share repurchases and potential acquisitions, while maintaining a disciplined approach [11][20] - The introduction of the AI models-as-a-service platform, Signals Synthetica, is expected to enhance the company's position in the market [15][16] - The company anticipates organic growth of 2%-3% for 2026, with potential upside if market conditions improve [12][31] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the recovery of end markets, particularly in pharma and biotech, while acknowledging ongoing uncertainties [11][12] - The company noted improvements in customer sentiment and funding in the biotech sector, contributing to a more favorable outlook [52] - Management emphasized the importance of maintaining a prudent approach in light of recent market trends and uncertainties [12][31] Other Important Information - The company repurchased over $800 million worth of shares in 2025, reducing the share count by 8.5 million shares [10][11] - The acquisition of ACD/Labs is expected to contribute over $20 million in revenue for the year, adding approximately 75 basis points to overall revenue growth [13][31] Q&A Session Summary Question: Can you provide more color on the 2%-3% organic growth guidance? - Management acknowledged positive signs in end markets since September but maintained the conservative guidance to allow for potential upside as the year unfolds [39][40] Question: What is driving the strength in instruments and reagents within life sciences? - Management indicated that continued momentum in the end market and share gains in the preclinical market are contributing factors [45] Question: Can you elaborate on the timing and trajectory of new software products? - Management highlighted that the Signals business is in a significant new product introduction phase, with expectations for growth to accelerate in the coming years [48][49] Question: How is the company approaching M&A opportunities? - Management stated that any potential M&A must provide a strong strategic addition and meet financial return criteria [56] Question: What are the expectations for the diagnostics business going into 2026? - Management expressed a more prudent assumption for newborn screening and immunodiagnostics in China, while still anticipating potential upside [64][70]

Revvity (NYSE:RVTY) Q4 2025 Earnings call February 02, 2026 08:00 AM ET Company ParticipantsBrandon Couillard - Managing DirectorDan Arias - Managing DirectorDan Leonard - Managing DirectorLuke Sergott - Director for Healthcare Equity ResearchMax Krakowiak - SVP and CFOPrahlad Singh - President and CEOSteve Willoughby - SVP of Investor RelationsTycho Peterson - Managing DirectorVijay Kumar - Senior Managing DirectorConference Call ParticipantsAndrew Cooper - Equity Research AnalystCatherine Schulte - Senior ...

Twist Bioscience (NasdaqGS:TWST) Q1 2026 Earnings call February 02, 2026 08:00 AM ET Company ParticipantsAdam Laponis - CFOAngela Bitting - SVP of Corporate AffairsDoug Schenkel - Managing DirectorEmily Leproust - CEO and Co-FounderMac Etoch - Research AssociateMatt Larew - PartnerPatrick Finn - President and COOSubbu Nambi - Managing DirectorConference Call ParticipantsBrendan Smith - Health Care AnalystNone - AnalystNone - AnalystOperatorLadies and gentlemen, thank you for standing by. Welcome to Twist Bi ...

Financial Data and Key Metrics Changes - The company reported fourth quarter revenue of $772 million, resulting in 4% organic growth, with a full year revenue of $2.86 billion, reflecting 3% organic growth [20][21] - Adjusted EPS for the fourth quarter was $1.70, exceeding guidance, while full year adjusted EPS was $5.06, representing a 3% year-over-year growth [9][23] - Adjusted operating margins for the fourth quarter were 29.7%, down 60 basis points year-over-year, while full year adjusted operating margins were 27.1%, down 120 basis points year-over-year [21][24] Business Line Data and Key Metrics Changes - The diagnostics segment achieved 7% organic growth in the fourth quarter, with full year organic growth of 4%, driven by strong performance in immunodiagnostics and reproductive health [6][27] - The life sciences segment remained flat year-over-year in organic growth for the fourth quarter, with full year organic growth also at 2%, impacted by low single-digit declines in academic and government sales [6][26] - Signals software business grew in the high teens organically for the full year, with a nearly 40% ARR growth compared to last year [26] Market Data and Key Metrics Changes - Geographically, the company experienced flat performance in both the Americas and APAC, while Europe saw double-digit growth [25] - For the full year, the Americas grew low single digits, Europe grew high single digits, and APAC declined in the low single digits [25] Company Strategy and Development Direction - The company plans to reinvest a portion of operational upside back into the business, focusing on employee support and capital deployment opportunities [10][19] - The acquisition of ACD/Labs is expected to contribute over $20 million in total revenue, adding approximately 75 basis points to overall revenue growth [12][30] - The introduction of the AI models-as-a-service platform, Signals Synthetica, is aimed at enhancing drug development processes [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the recovery of end markets, reiterating a 2%-3% organic growth outlook for 2026 [11][29] - The company acknowledged recent positive trends in pharma and biotech funding, but remains prudent in its initial outlook due to ongoing market uncertainties [10][20] - Management highlighted the importance of maintaining a disciplined approach to capital deployment while navigating a fluid end market and policy environment [10][19] Other Important Information - The company repurchased over $800 million worth of shares in 2025, reducing the share count by 8.5 million shares [9][10] - Free cash flow for the fourth quarter was $162 million, resulting in 84% conversion of adjusted net income, with full year free cash flow at $515 million [24] Q&A Session Summary Question: Insights on the 2%-3% organic growth guidance - Management acknowledged positive signs in end markets since September but maintained the conservative guidance to allow for potential upside as the year unfolds [39][40] Question: Factors driving strength in life sciences instruments and reagents - Management indicated that improvements in preclinical spending and ongoing demand development are key drivers, with a focus on maintaining market share [45][46] Question: Timing and trajectory of new software product launches - Management confirmed that the Signals business is in a significant new product introduction phase, with expectations for growth rates to accelerate over the coming years [49][50] Question: Performance within pharma biotech and order trends - Management noted cautious optimism in order trends, with improvements attributed to greater clarity in the policy and regulatory environment [61][62] Question: Outlook for diagnostics business and potential upside - Management highlighted strong performance in newborn screening and immunodiagnostics, suggesting potential for upside in diagnostics for 2026 [65][66]